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Country Lakes North Phase 7 Escrow Agreement DocuSign Envelope ID:COEBF7D3-6D65-4DAE-A681-479B5E269FCO ('Ill' OI DENTON 401 N. ELM STREET■ DENTO 1( TEXAS■ 76201 ■ 940.349.7716 March 2, 2022 First Am arican Title 4795 Regent Blvd. M ail code 2003 Irving, TX, 75063 Attn: First Am arican Title Subject: Escrow Agreem ait for Sidewalk at Country Lakes North Ph 7—FP17-0029. Dear Kerri Hem tree, With regard to the above-m antioned agreem ait, please note Bloom field H cm es, L.P. has satisfactorily corn Ileted the relevant sidewalk im Irovem ants John Payne Road and Texoma Lane. The City hereby authorizes First Am arican Title to release the escrow funds. If you have any questions or need further assistance in this m Iter, please contact me at Candy.Whitaker(abcityofdenton.com or (940)349-8319. Sincerely Docu Signed by: f�" H 3/10 022z1oazs, Sara Hensley City Manager O UR CO IRE VALUES Integrity • Fiscal Responsibility • Inclusion • Transparency • Outstanding Custom cr Service DocuSign Envelope ID: COEBF7D3-6D65-4DAE-A681-479B5E269FCO Escrow Agreement AUG 062018 For Postponement ......................Of Interior Sidewalk Project: Country Lakes North Ph 7 Project No. FP 17-0029 TYPE: SW Approved by Engineering Development Review, Engineering Services Department, forwarded To Legal Department Sign Date Reviewed by Legal Department, forwarded to I City Manager's Office Sign Date 'Please notify Tracy Beck, Becky Owens and Greg Blackstone by e-mail when agreements are complete S;S�, DocuSign Envelope ID:COEBF7D3-6D65-4DAE-A681-479B5E269FCO Whitaker, Candy Subject: FW:Country Lakes Phase County Lakes Phase 7 EscrowRelease:W hitaker, Candy Sent:Thursday, March 10, 2022 11:11 AM To:Whitaker, Candy<Candy.Whitaker@dtyofdenton.com > Subject• • • '- Today Sidewalks are.... . ..on country Lakes Rob that is great Thank you. 10:46 AM DocuSign Envelope ID:COEBF7D3-6D65-4DAE-A681-479B5E269FCO 40F'. Engineering Development Review Division DENTON 215 W. Hickory St., Denton, TX 76201 • (940) 349-7157 MEMORANDUM DATE: August 3, 2018 TO: Todd Hileman FROM: Becky Owens SUBJECT: Sidewalk Escrow Agreement Summary Bloomfield Homes. L.P. is the Owner/Developer for the development of Country Lakes North Ph 7/ FP17-0029, an 22.988 Acre tract or parcel of land as a 100 single family lot subdivision with 3 HOA lot development located at John Payne Road and Texoma Lane. This agreement is required in order to defer the construction of the interior public sidewalks as a condition to receiving a Letter of Acceptance for the public improvements. It is executed by the Developer,their selected Escrow Agent and the City. Upon proper completion of the Public Improvements in accordance with this agreement,the City agrees to accept the Public Improvements. OUR CORE VALUES Integrity • Fiscal Responsibility • Transparency 9 Outstanding Customer Service DocuSign Envelope ID:COEBF7D3-6D65-4DAE-A681-479B5E269FCO Effective March 3013 PROJECT NO. FP 17-0029 CONTRACT TYPE SW STATE OF TEXAS 8 ESCROW AGREEMENT COUNTY OF DENTON S FOR POSTPONEMENT OF INTERIOR SIDEWALK IMPROVEMENTS WITHIN A RESIDENTIAL SUBDIVISION WHEREAS, Bloomfield Homes, L.P. hereafter referred to as ("Owner"), has undertaken to develop and/or plat a residential subdivision within the City of Denton, Texas ("City") or its extraterritorial jurisdiction, as further described on the attached "Exhibit C" (the "Development");and WHEREAS,Owner has,pursuant to the City ordinances,executed a development contract(if applicable) dated July 10, 2018 to insure that any and all exterior sidewalks, streets, water and sewer lines, drainage facilities or other public improvements which are to be dedicated to the public for a residential subdivision, hereafter referred to as ("Improvements"), are constructed and completed in accordance with the specifications,standards and ordinances of the City;and WHEREAS, in order to file a plat or to receive a Letter of Acceptance,Owner may, in lieu of completing the interior sidewalks, escrow cash money with a bank or title company as escrow agent; and WHEREAS, in order to secure the construction of the Deferred Sidewalk, Owner has entered into this agreement with the City and ��i2,c,?T .��Ti7ZC ("Escrow Agent"), Page 1 of 5 DocuSign Envelope ID:COEBF7D3-6D65-4DAE-A681-479B5E269FCO NOW,THEREFORE,Owner,City and Escrow Agent agree as follows: 1. Amount: Owner, as a condition to receiving a Letter of Acceptance or filing of the Plat, shall deposit the sum of Forty-Seven Thousand Six Hundred Ninety-Three Dollars Seventy-Five Cents($ 47,693.75 ), in cash money, with Escrow Agent, said sum being in an amount, per the attached Cost Analysis (Exhibit "D"), and being approximately 25% of the estimated cost to complete the Deferred Sidewalk (the "Escrow"). 2. Notice of Deposit: A Letter of Acceptance shall not be issued or the Plat filed by City for the Development until Escrow Agent notifies City, in writing, that the Escrow amount has been deposited in an escrow account with Escrow Agent. 3. Release of Funds: Escrow Agent shall not release any or all of the Escrow until the City Engineer authorizes the Escrow Agent, in writing, to release such funds as provided for herein as follows: (a) The City Engineer shall authorize the release of all the Escrow when the Deferred Sidewalk is completed, the determination of which shall be made by the City Engineer whose judgment shall be binding on all parties hereto; (b) The City Engineer may, but is not required to, authorize periodically, the release of specified sums of the Escrow to the Owner if, and as, the Deferred Sidewalk is completed and approved or accepted by the City in stages, so long as the remaining funds not released are sufficient to complete the construction of the remaining portion of the Deferred Sidewalk which has not been, but is required to be,completed and accepted or approved by the City; Page 2 of 5 DocuSign Envelope ID:COEBF7D3-6D65-4DAE-A681-479B5E269FCO (c) Owner shall complete 100% of the Deferred Sidewalk improvements within three years from the date of this agreement. If for any reason the Deferred Sidewalk is not completed within this three year period the City,at its option, may require the Escrow Agent to deliver the Escrow to the City. In such case the City may retain the Escrow until such time as Owner completes the Deferred Sidewalk, or may apply the Escrow toward the completion of the Deferred Sidewalk and recover from Owner any remaining amount needed to complete the Deferred Sidewalk. 4. Notices: Any notice to be sent,required to be sent,or given under this agreement shall be sent to the address or fax no.of the parties hereto,as follows: CITY: OWNER: DRC Engineering Administrator Bloomfield Homes, L.P. 215 W. Hickory Street 1050 E. Hwy 114, Suite 210 Denton,Texas 76209 Southlake, TX. 76092 Fax No. (940)349-7707 Fax No. 817 416 - 1572 ESCROW AGENT: 'N�19 S �Ers,�w,r BL�i n. mt9v'.Goo c ioo s Fax No. (� - 5. Fees: Owner agrees to pay any and all fees or costs charged by the Escrow Agent in connection with this Agreement. 6. Non-Liability of Escrow Agent: The Escrow Agent shall have no responsibility except for the safekeeping and delivery of the amounts deposited in the Escrow Page 3 of 5 i DocuSign Envelope ID:COEBF7D3-6D65-4DAE-A681-479B5E269FCO account in accordance with this agreement. The Escrow Agent shall not be liable for any act done or omitted to be done under this Agreement or in connection with the amounts deposited in the Escrow account except as a result of the Escrow Agent's gross negligence or willful misconduct. If any question,dispute or disagreement arises among anyone or more of the parties hereto and/or any other party with respect to the funds deposited in the Escrow account, the proper interpretation of this Agreement, the duties of the Escrow Agent hereunder or the rights of the parties to this agreement, the Escrow Agent shall not be required to act and shall not be held liable for refusal to act until the question or dispute is settled and the Escrow Agent has the absolute right, at its direction,to do either or both of the following: (a) Withhold and/or stop all further performance under this agreement until the Escrow Agent is satisfied, by receipt of a written document in form and substance satisfactory to the Escrow Agent and executed and binding upon all interested parties hereto (who may include the subscribers), that the question, dispute or disagreement has been resolved;or (b) File a suit in interpleader and obtain by fmal judgment rendered by a court of competent jurisdiction,an order binding all parties interested in the matter. 7. Successors and Assigns: This agreement shall be binding upon the successors and assigns of the parties hereto. 8. Venue: The parties hereto agree that if any legal action is necessary in connection with this agreement,exclusive venue shall lie in Denton County,Texas. Page 4 of 5 DocuSign Envelope ID: COEBF7D3-6D65-4DAE-A681-479B5E269FCO IN WITNESS WHEREOF,the said City,Owner and Escrow Agent have signed this instrument this day o � CITY OF DENTON OWNER OCP611 jr BY: C) ---- BY: Todd Hileman Signature City Manager Donal J.Dykstra,President Bloomfield Properties, Inc. prffitecPNWFanner ATres r: T Y= ESCROW AGENT ^ Ir-n A TO FORA: UTY ATTORNEY CITY OF TON TEXA BY: ' BY: 'm• Si e Printed Name Page 5 of 5 DocuSign Envelope ID:COEBF7D3-6D65-4DAE-A681-479B5E269FCO � Y —1 0 w Q o N Q W LLJ Ln LL- ~ 't d _ J D I 0 gl- _ O Cf) V)d 00 [IfCV Q � � w��� O II c0 �r co W V) CD cn X Z �wN Y J LLJ O O } aoQ Q U o <C� cn O a_IL D� m LUa_ z Q rn z D O U w a�oti w w »as 0 AIR AVA 1wR I°IR " 4 a a x x x 4 _v? 9 ww►s w�W • u - i �3�g9 _ova 0AR!0H 'J01A01 'M 04O1 OLOZ/£l/L '6Mp•;!q!yx3 )110Map!S\*OJDS3 MIOMaP!S\L aSDgd\I!^!o Z09\3NIldIZ)S10 009\c£v9eX£O\494X£0\OlS\:! DocuSign Envelope ID:COEBF7D3-6D65-4DAE-A681-479B5E269FCO EXHIBIT D SIDEWALK ESCROW Project Description PROJECT: COUNTRY LAKES NORTH PHASE 7 LOCATION: INTERSECTION OF ATHENS DRIVE/JOHN PAINE ROAD DENTON,TX Project Estimate DESCRIPTION QTY UNIT UNIT PRICE TOTAL PRICE Sidewalk from Exhibit C S' Wide 4" Thick Concrete Sidewalk 7631 LF $ 2S.00 $ 190,77S.00 25%ESCROW $ 47,693.75 DocuSign Envelope ID:COEBF7D3-6D65-4DAE-A681-479B5E269FCO Receipt/Deposit Summary Report Processing Region. SOCENT-Soup Central Region Office Name 1726-TX HSD DFW SBA New Horne Center Escrow(3256) Office Address. 4795 Regent Blvd,Suite 200,Irving.TX 75063 Office Phone/Fax: (817)918-2326!(866)862.5295 File No.: 2343466-M26 Officer. Kc t / ' Est Settlement Date Buyer. Bloomfield Homes,L.P. Property: Per Escros Apr cnt in Doc Repos Settlement Date- Seller. Denton,TX Disbursement Date i Receipt No.! Dep Status/ Issue Dat e 1 Payor Receipt Ant Representing/ Credit I o! Depotit Institution Status Dep Wit 'I'ramio�t Dr After Hours" Description Remced From Book Code-Account Number Type Processed By-Dan 32661923 71262018 Bloomfield Homes,I S47,693.75 Other Buyer First Arricincan Trust,FSB-Ann: 0 5 50:43 PM Banking Semoes MIS 84 Issued Mum18 Sidessalk Agreemmi Funds Bloomfield Homes,LP 4 03 48 PM Other Kenn Hembree-7126r2018 3:50.44 PM Receipt Issued Total $47,693.75 Net Receipt Adjustments S0.00 Net Receipt Issued S47,693.75 Printed On 12/17=14 Page 1 DocuSign Certificate O fCompletion Envelope Id:COEBF7D36D654DAEA681479B5E269FCO S tatus:Com Meted Subject: Please DocuSign:FP17-0029 Country Lakes North Phase 7 Full Packet.pdf Source Envelope: Docum ant Pages: 12 S ignatures: 1 E nvelope O rginator: Certificate Pages:5 1 nitials:0 C andy Whitaker AutoNav: Enabled 901 B Texas Street Envelopeld Stamping: Enabled Denton,TX 76209 Tim eZone: (UTC-06:00)Central Tim e(US&Canada) Candy.Whitaker@cityofdenton.com I Address: 198.49.140.10 Record Tracking Status:O iiginal Holder:Candy Whitaker Location: DocuSign 3/10/2022 11:51:54 AM Candy.Whitaker@cityofdenton.com Signer Events Signature T im estam p Sara Hensley by Sent:3/10/2022 12:03:59 PM Sara.Hensley@cityofdenton.com EDOCUSig,ld A"A Ht#.4� Viewed:3/10/2022 12:08:49 PM �.aco6�c� City M anager 13424 Signed:3/10/2022 12:08:57 PM City of Denton Security Level: Em al,Account Authentication Signature Adoption: Pre selected Style (None) Using IP Address: 198.49.140.10 Electronic Record and Signature Disclosure: Not O fered via DocuSign In Person Signer Events S ignature T im estam p Editor Delivery Events S tatus T im estam p Agent Delivery Events S tatus T im estam p Intermediary Delivery Events S tatus T im estam p Certified Delivery Events S tatus T im estam p Carbon Copy Events S tatus T im estam p Candy Whitaker COPIED Sent:3/10/2022 12:08:58 PM candy.whitaker@cityofdenton.com Planning Technician I City of Denton Security Level: Email,Account Authentication (None) Electronic Record and Signature Disclosure: Not O fered via DocuSign Rob Plato COPIED Sent:3/10/2022 12:08:58 PM Robert.Plato@cityofdenton.com Public Works Inspection Supervisor Security Level: Ema1,Account Authentication (None) Electronic Record and Signature Disclosure: Accepted:7/27/2021 2:41:30 PM ID:8e4669c9-1133-4059-bd08-1693d4f2ce86 Witness Events S ignature T im estam p Notary Events S ignature T im estam p Envelope Sum m ay Events S tatus T im estam ps Envelope Sent Hashed/Encrypted 3 /10/2022 12:03:59 PM Certified Delivered S ecurity Checked 3 /10/2022 12:08:49 PM Signing Corn Mete S ecurity Checked 3 /10/2022 12:08:57 PM Corn Meted Security Checked 3 /10/2022 12:08:58 PM Payment Events Status T im estam ps Electronic Record and Signature Disclosure Electronic Record and Signature Disclosure created on:7/21/2017 3:59:03 PM Parties agreed to:Rob Plato ELECTRO MC RECO 1RD AND SIG NkTURE DISCLO SLJRE From tim eto tim q, City of Denton (we, us or Com piny) m a'be required by law to provide to you certain written notices or disclosures. 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