1989-1612Q51L
ORDINANCE NO RnZ&l
AN ORDINANCE AUTHORIZING THE MAYOR TO EXECUTE AN AGREEMENT
BETWEEN THE CITY OF DENTON AND THE U S ARMY CORPS OF ENGINEERS
FOR ENGINEERING, DESIGN AND CONSTRUCTION OF NON-COST SHARABLE
RECREATION FACILITIES AT RAY ROBERTS LAKE, AND PROVIDING AN
EFFECTIVE DATE
THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS
SECTION I That the Mayor is authorized to execute an
agreement Tetween the City of Denton and The U S Army Corps of
Engineers for engineering, design, and construction of non-cost
sharable recreation facilities at Ray Roberts Lake under the
terms and conditions contained within said agreement, a copy of
which is attached hereto
SECTION II That this ordinance shall become effective
imme ate y upon its passage and approval
PASSED AND APPROVED this the 7= day of ";j9640AVjj 1989
~h~it4
Y S t2- M OR
ATTEST
JENNIFER WALTERS, CITY SECRETARY
BY
APPROVED AS TO LEGAL FORM
DEBRA ADAMI DRAYOVITCH, CITY ATTORNEY
BY O
AOREr MENI l1LTWFr-N
rHl: t1 ARMY CORPO OF ENGINEER')
DF'f'Artl MENT OF rHE ARMY
UNTIED SIArES OF AMERICA
AND
11-117 CITY Or- DENTON, TEXAS
FOR CNGINELRING, DESIGN AND CONSTKUCTION nF
NON-COST 9HARABLE RECRFATInN FArILTT7E9
AT RAY ROBERTS LAVE
This MFMORANDUM nl AGREEMENT (hereinaftor referred to as thr
"MOA") entered into this _ 7th day of November _ , 1569 by and
between the DEFARTMFNT OF THE ARMY (hereinafter referred io as
the "Government") actxnq by and through the District Engineer,
I-ort Worth District, and the City of Denton (hereinafter referred
to as the "Contributor")
WITNES9ETH, THAT
WHEREAS, the construction of the Ray Roberts Late
project was authorized by the Rivrrs and Harbor Act of October
1965, and
WHFRITA9, the Contributor and the Government have entered
into a Rerrinataon Contract, NO DACW6100-C-0106, for construction
of the recreation facilities at Rdy Roberts Lake pursuant to the
cost-sharing requirements of PL 59-72, and
WHEREAS, the Contributor desires to provide for the
engineering, design and construction of certain roads, utilities
.end facilities in Johnson Branch and Isles duBois Parts
(herr.inafi er called t hr "Project") not covered by Recreation
Contract No DACW63-00-C-0106, and proposes to pay, in combination
with the City of Dallas and without Federal reimbursement, 100/ of
the cost of constructing naxd items (hereinafter referred to as
the "ronti3huted funds"), and to also operate, maintain, repair
and rehabilitate ouch items as provided for in this Agreement at
nn cost to the Government, and
WHEREAS, the City of Dallas shall also enter into a
separate MOA with the 6nvvrnment rnvering it, sharu of payments
Lind rospon%iba1xties for thv engznerring deszr)n, construction,
operation, maintenance, repair acid rehabili.tat3cm of the Project,
and
WHFRrA9, tho Government in authorized pursuant to
ll S 1 7"1(h) in accept Lhr f"ndb contributed for construct7on of
the recreation reads, utilities and faczl3tie~, to by impended in
roan chitin with Federally Approprcaied fnn& for conbirinctxon of
the f ar e t i t a eo c overr d under Recroati on Contract No
DACW65-8v C-0106)
NOW, TFILRLF(lRF, FVIE PART 1Er, OGR F Ai FOLI ME)
1 9ubj ec t to many nt=c essai y apps opri at i on, the= Cun tr 3 b"tor
shall
a Fay 26 percent of the total cost of engineering,
design and consi r uc t3 on of thp Pi nj eci , as detorminod by the
Government Such costs are currently estimated to he $148,36n
This in based upon the Government's current best estimate Such
cost estimate arv subject to adjustments based upon cost actually
incurred and are nttt to be construed as the total financial
responsibilities of the Government and the District
b Provide payment fnr 3tPmh of wnrk shown in Ethibit A,
into an escrow account acceptable to the Government as specifitd
by separate agreement within ;U days after notification by the
Government
? The Government shall not initiate wort on the engineering
design or construction of the Project until the required amounts
from the Contributor and the city of Dallas are provided to the
Government nor obligate any contributed funds before they are
received from the contributor and the City of Dallas The
Government shall use the contributed funds for no purpose other
than the engineering, design and construction of the Project
The povrrnmeni will draw on the escrow account such sums
a- the Government deems necessary to cover contractual and
tin-house Pascal obligations attributable to the Project as they
are incurred, as well as costs incurred Upon completion of the
Project and resolution of all relevant contract claim, and
appeals, the Government shall compute the total Froiect costs and
tender to the Contributor a final accounting of total costs In
the event the total contribution by the Contributor is less than
its rcquirpd share of total Frolent costs, the contributor shall
no later than ninety (9U) calendar days after receipt of written
notece, mate a trash payment to the Government of whatever sum is
required to meet its minimum required ~haro of total Froject
casts In the event the ContribuLor has provided more- than its
required shard of total Project casts, the Government shall, no
lAtpi than ninety (9Q) calendar days after the final accounting is
complete, return said a%cess to the Contributor
4 The bovernmunt ohall provide the Contributor with
quarterly Accoun Liug=, of its e,penditures of contributed funds
for engineerinq, design and construction of the Pro7eLt The
first ouch accounting shall be provided within '_U days, after the
final day of the First complete Government Fiscal year quarter
following receipt of the contributed fund„ and sub~equcnt
arcountinyb shall bey pi nvided within 'u clayn after tht Final d,av
of oach succeeding quarter until the contributed %ndc nru
completely eapendvd Dr the Government c onalaadeas enga nee ra nq
design and cnnstruction wort on the Froipct
I the Govoi nment, using fund> provided by the E nntr i htttor
shall c ppditiou,ly ,advertise, award sand con tract the project
applying FhogP proc odur es fol l awed pursuant to Federal l Aws
policies and procedures rho Government shall
a Develop the final contract plans and speccftratcon~
for the Project, as shown in Crhibit A
b Provide for construction of the Project in its
advertisement for construction of recreation facilities at Ray
Roberts Lake covered by Recreation Contract No DACW6;-80-C-0106
c Provide the Lontributor with the results of the bid
opening, and upon ascertaining the contributors share of they hid
amounts, advise the Contributor of the funds required to be
deposited in the escrow account in accordance with paragraph 1 b,
for the cost of construction of the Fro.ject
6 Neither this agreement nor actions taken as a result of
this agreement shall hind, commit, constitute, or be deemed to
constitute, a representation or obligation to request or support
future Federal appropriations for construction by the Government
of facilities covered by Recreation Contract No DACW63-80-C-0106
7 When the Government determines that the construction of
the Project or functional portions thereof are complete the
Oovernment shall turn the completed or functional portions over
to the titles of Denton and Dallas, Te as, which shall accept the
completed or functional portions and be jointly responsible for
nperiting, repairing, maintaining, replacing, and rehabilitating
the completed or functional portions
8 The Contributor and the city of Dallas, Texas,,
agree to operate, maintain, rehabilitate and repair the roads,
utilities and facilities pursuant to this agreement In addition
the contributor and the City cif Dallas agree to be held jointly
and severally liable for any and all de=bts and obligations arising
under this agreement
9 the Contributor shall hold and save the Oovernment free
from all damages arising from the Lonstruction, nperation and
maintenance of the Project, a cept for damages due to the fault
or negligence of they Government or its contractor=_
10 More any party to this MOA may bring suit in any court
cuneerning an issue= relating to this MOF1, such party must f i i at
suet in good faith to resolve the issue through negotiation at,
othe=r forms of nonbinding alternative dispute reonlution mutually
acceptable to the parties
1i Nn member of at delegate to the Congresn, or resident
e ommissionor, shall he Admitted to any sharr nr part of i hi l
Agreement, or to zany benefit that may arise thereafrom
In The contributor warrants that no per on or selling
~grncy has been employed at retained to solicit or secure this
Agrcv meat upon agreement or eenderatanding for a commission,
Fiereentage, brokerage, or contingent fer, e,ceptinq bona fide
empJoyeeb or hona fa do estabIishod cummercxAl or SPIIing agencies
maintained by the contributor for the purpose of securing
hnn ness For breach or violation of this warranty the
Government shall have the right to annul this Agreement without
lishility, nr, in its discretion, to add to the Agreement or
consideration, or otherwise recover, the full amount of such
commission, percentage, brokerage, or contingent fee
IN WITNESS WHEREOF, the parties have e ecuted this Memorandum of
Agreement was of the day and year first above written
DEPARTMENT or THE ARMY
CIrY OF DENTON, rEXAS
U S ARMY CORPS" OF ENGINEERS
BY
WILLIAM D DROWN
Colonel, Corps of Engineers
District Engineer
kY-MaY o
E HE
Date ttI1,1.(+~~
Date~ 20 17A_L--__--
APPROVED AS TO FORM
CITY OF DALLAS, TEXAG
Richard Knight, Jr , City Manager
lty
Asst nt City ager
DEHRA A DRAYOV1TCH
-
C1ty Attorney
City of Denton Teas
DATE
Approved ~s to fo1m
ANAAss;- NCY C.iy Attorne
6 i
n
Y City Attorn eySubmitte to City Attorn
NON COST SHARABLE FEATURES
TO BE FUNDED BY DALLAS & DENTON
ITEMS
OF WORK
Isle DuBois Park
Johnson Bran
ch Park
Maint
Manager's
Foreman's
Maint
Manager's
Foreman's
Complex
Residence
Residence
Com lex
Residence
Residence
Roads & Parking
X
X
X
X
X
X
X
X
Fencing
X
X
X
X
X
X
X
X
Water Line
X
X
X
X
X
X
Sewer Line
X
X
X
R
X
X
X
Electric Line
X
ESTIMATED
COSTS
Facilities
$174,563
$259,124
Contingencies, 15X+
25,437
38,876
Total, Construction
200,000
298,000
E&D
15,000
21,000
S&A
14,000
21,000
Grand Total
$229,000
$340,000
NOTES
The $36,000 total for Engineering & Design must be paid to the Corps by Dallas
($26,640) and Denton ($9,360) before initiation of design work
Exhibit A
AGREEMENT bE1WCEN
1HC H S ARMY cnRps OF ENGINEER,
DL-fARTMENr OF THE" ARMY
UN11rD STATES OF AMCRICA
AND
w CITY OF DALLAS TEXAS
FOR ENGINEERING, DESIGN AND LON9TRUCTION OF
NON-LOST 9HARABLF RECREATION FACILIrIF_9
At RAY ROBERrS LAIE
This MEMORANDUM OP AGREEMENT (hereinafter referred to as the
"MOA"), entered into this 14th day of -Wegber__ 112 89, by and
between the DEPAhrMENT nF THE-ARMY (hereinafter referred to as
the "Government") acting by and through the District Lngineer
Fort Worth District, and the City of Dallas (hereinafter referred
to as the "Contributor")
W1TNEWSETH, THAT
WHEREAS, the construction of the Ray Roberts Late
project was authorized by the Rivers and Harbor Act of October
1965 and
WHERCAS, the Contributor and the Government have entered
into a Recreation Contract, Nn DALW63-Sv--C-u106, for constructinn
of the recreation facilities at Ray Roberts Late pursuant to the
c_nst -shai ing rerluirements of r°t F39-72 and
WHCRFAS the Lontributor desires to provide for the
engineering, design and construction of certain rnads, util tie,.,
and facilities in Johnson Branch and Isles duBois Farts
(hereinafter called the "Frojoct") not covered by Recreatinn
Contract No DAC'W6Z -SC1-C-0106, and proposes to pay, in combination
with the City of Denton and without Federal reimbursement, ivO/ of
thc+ cost of constructing said items (hereinafter referred to a
the "contributed fluids"), and to also operate, mviniAin, repair
and iehabilitate such items as provided for in this Aqt Bement at
no rust to the Government, and
WHCREAS, the City of Denton shall also enter into a
Sepal Ate MOA with the Government covering its share of payments
and responsibilities, for the, engineering, dobign, construction,
oiler d i on, mai nterionreT, repair and rehabi L i t at i on of the r'rol ect
and
WHERChb, thv Government is authorized, pur unni in
ll C /ol(h), In accept the funds cnntrihLd.vd foi rnn,trurtinn of
the recreation road,, utilities And facilities to be c pendad in
canoe r i inn with FeKa liar AI 1 y appropr i Al cad funds-, for cone i r uc Linn of
tho f is i 1 i tie-, covered under Recreation (ontr ict No
nnrw6, Uri r Uio6,
NUW, mr-roUFORr, IHE FART IFS ACF,EE Ali 1 011 OW,
7 Subject to any necessary appropriaiinn, tho Cnntrahutor
,hall
rt fay /4 percent of the total cost of engineering,
design and construction of the Project, as determine=d by the
Government Such costs are currently estimated to be $420,64()
This is based upon the Government' current best estimate Such
cost estimates are subject to adjustments based upon cost actually
incurred and Are not to be construed as the total financial
responsibklities of the Government and the District
b Provide payment for items of work shown in E,hibit A
into in escrow account acceptable to the Government as specified
by separate agreement within eel days after notification by the
Government
The Government shall not initiate work on the engineering,
design or construction of the Project until the required amounts
from the Contributor and the city of Denton are provided to the
Rovernment nor obligate any contributed funds before they are
received from the contributor and the City of Denton The
Government shall use the contributed funds for no purpose other
than the engineering, design and construction of the Froject
The Government will draw on the escrow account such slims
As the Government deems necessary to cover contractual and
in-house fiscal obligations attributable= to the Fro_7ect as they
are incurred, as well as costs incurred Upon completion of the
Froject and reaoluteon of all rl=levant contract claims and
appeals, the Government shall compute the total Iroject costs, and
tender to the= Contributor a final accounting of total costs In
the event the total contribution by the Contributor is less than
its required share of total Protect costs, the contributor shall„
no later than ninety (90) calendar days after receipt of written
notice, make a cash payment to the Government of whatever sum is
required to meet its minimum required share of total Project
cnot a In the ovont the Contributor has provided more than its,
required share of total Project costs, the Government shall, no
l ter than ninety (90) calendar days after the final accounting is
complete, return said a cess to the Contributor
4 The Grevorumrant =hull provide tho Contributor with
gluartertyaccountings of its a>penditurvs of contributed funds
fnr engineering, dpni gn and construction of the IroJeci the
first such accounting shall be provided within !0 days after the
final day of the O rW complete Government fiscal year quarter
folluwinq receipt of the contributed fundo, and sllb Eao(llent
aeeolntiny, shnJ) be provided within 10 days after the final day
of sarh sulceeding quarter until the contributed fund. aru
completely e, pendr d or the Government r one ludra wrigineei and
design .and eonskruction work un the Prulec t
t. They Goveai nment, using funds provided b, the Contributor
hall ea peditiounly ae.Ive_rtise, Pward and Lonatruet the prujeet,
ipplyanq thnse pros e dues, followed pursuant to r pdel n1 I iws
policies, and proLedules the Government shall
a Develop the final contract plans and SPPLCficataons
for the Project, as shown in E habit R
b Provide for construction of the, Froloet in if,
advertisement for construction of recreation facilities at key
Roberts Labe covered by Recreation Contract No
DACW63-Gu-C-u1U6
c Frovide the Contributor with the results of the bad
opening, and upon ascertaining the contributors share of the bid
amounts, advise the Contributor of the funds required to be
deposited in the escrow account in accordance with paragraph t b,
for the cost of construction of the ProjeLt
6 Neither this agreement nor actions taken an a result of
this agreement shall band, commit, constitute, or be deemed to
constitute, a representation or obligation to request or support
future Federal appropriations for construction by the Government
of facilities covered by RecreAtaon Contract No DACW6:-8U-C-ulu6
7 When the Government determines that the construction of
the Froject or functional portions thereof are complete, the
Government shall turn the completed or functional portions over
to the cities of Denton and Dallas, Teas, which shall accept the
completed or functional portions and be jointly responsible for
operating, repairing, maantaininy, replacing, and rehabilitating
the completed or functional portions
8 the Contributor and the city of Denton, Te as,
agree to operate, maintain, rehabilitate and repair the roads,
utilities and facilities pursuant to this agreement In Addition
the contributor and the Lity of Denton agree to be held loin'ly
and severally liable for any and all debts and obligations arising
under this agreement
9 The Contributor shall hold and save the Government freo
from all damages arising from they construction, operation, and
maintenance of the Froject, except for damages due to the fault
or negligence of the Government or its contractors
lu Before any party to this MOA may bring suit in any Lonl t
concerning an issue rel at i nil to thin MQA, such party must first
eel in good taith to resolve the issue through negotiation or
other forms of nonbinding alternative dispute revolution mulli,ally
acceptable to the parties,
it No member of or delegate to the Congress, or resident
ommionioner, , shat 1 be Admitted to any Vare or part of this
flyreement, nr to any benefit that may ari,p therefrom
t' rho contributor warrants that no poi son or clung
ayency has been employed or retained to solicit or suture tha_,
Ayrcanent Upon agrPomenl or under tandiny Or a commis inn
percentage, brotwrage, or contingent fee, e cept arg bona Vide
employeeo or bona fade Pstablished commei coal ni se=lling ag-nc_re}
maintained by the contributor for the purpose of securing
Vni ness For breach or violation of l-hin warrAnt/ the
bovernment shall have the right to annul thi, Ayieoment without
liability, or, in ais discretion, to add to the Agreement of
consideration, or otherwise recover, the full amount of such
commission, percentagv, hrolerage, or contingent fern
IN WITNESS WHEREOF, the parties have e ecuted this Memorandum of
Agreement an of the day and year first above writ ten
DEPARTMCNI OF rHE ARMY
U S ARMY CORPS OF ENSINE_ERS
BY W
WILLIAM ~D--BROWN Colonel, Corps of Engineers
District Engineer
___tl'2Z(p9___
Date
CITY OF DALLAS, TEXAO
Richard Knight, A , City Manager
BY Assi t p n r
Date__
APPROVED AS 10 FnRM
CCIY OF DE_N1ON TEXAS
DY
Mayor
~eslle Muncy, Clty tto
BY
Assistant City AttOMey Submitted t City Attorney
DATE -'t
e
NON COST SHARABLE FEATURES
TO BE FUNDED BY DALLAS & DENTON
ITEMS
OY" wuKA
Isl
e DuBois Pa
rk
J
ohnson Branch Park
Maint
Manager's
Foreman's
Maint
Manager's
Foreman'a
Complex
Residence
Residence
Com lex
Residence
Residence
Roads & Parking
x
X
X
x
X
x
x
x
Fencing
x
x
X
X
X
g
x
Water Line
x
R
R
X
X
x
Sewer Line
x
x
x
x
x
x
x
Electric Line
ESTIMATED COSTS
Facilities
$174,563
$259,124
876
38
Contingencies, 15X+
25,437
,
Total, Construction
200,000
298,000
000
15
21,000
E&D
,
000
14
21,000
S&A
,
Grand Total
$229,000
$340,000
NOTES
The $36,000 total for Engineering & Design must be paid to the corps by Dallas
($26,640) and Denton ($9,360) before initiation of design work
Exhibit A
20 Jun 89
ESCROW AGREEMENT
BETWEEN
THE U S. ARMY CORPS OF ENGINEERS
DEPARTMENT OF THE ARMY
UNITED STATES OF AMERICA
AND
THE CITY OF DENTON, TEXAS
FOR DESIGN AND CONSTRUCTION OF
NON-COST SHARABLE RECREATION FACILITIES
AT RAY ROBERTS LAKE
This Agreement, made and entered into this 7th day of November ,
1989 , by and between the City of Denton (hereinafter referred to as the
"Local Sponsor"), the Department of the Army (hereinafter referred to as the
"Government"), and the 1st State Bk of , (hereinafter referred to as the
"Bank"), WITNESSETH THAT Denton
WHEREAS, on November 7, 19 the Local Sponsor and the Government
entered into a memorandum of agreement for the construction of non-cost
sharable recreation facilities at Ray Roberts Lake, and,
WHEREAS, pursuant to the memorandum of agreement, the Local Sponsor is
required to contribute, into an escrow account within 30 days after
notification by the Government of the estimated cost for construction of the
non-cost sharable roads and utilities, a cash contribution calculated in
accordance with said agreement, and,
WHEREAS, the Local Sponsor and the Government have agreed that the
required contribution may be deposited into an escrow account and held therein
until the Government withdraws the funds in accordance with the memorandum of
agreement, and,
A
WHEREAS, the Bank has agreed to serve as depository for the escrow account
and to accept appointment as escrow agent,
NOW, THEREFORE, the parties do hereby agree as follows
1 The Bank is hereby appointed as the escrow agent for the Local Sponsor
and is designated the depository for the monies delivered by the Local Sponsor
pursuant to the aforementioned memorandum of agreement The Bank shall
-2-
establish a "Ray Roberts Lake Non-Cost Sharable Project Construction Fund"
(hereinafter referred to as the "Escrow Account") into which shall be
deposited the funds delivered by the Local Sponsor The bank shall notify the
Government in writing upon the establishment of the escrow account
2 In accordance with the method of payment provisions of the memorandum
of agreement, the Local Sponsor shall absolutely and irrevocably deliver to
the Bank the funds required to be provided to the Government during the
construction period
3 The funds held in the Escrow Account shall earn interest at a rate as
the Bank and the Local Sponsor may mutually agree To the extent the Local
Sponsor authorizes the Bank to invest the funds in any instrument other than
an interest-bearing account, savings certificate, or certificate of deposit of
the Bank itself, such investment shall be only in direct obligations of the
Government of the United States of America or in obligations of agencies or
insurers that are guaranteed by the Government of the United States of
America Any instrument must be subject to redemption on or prior to the
dates the funds will be needed by the Government Interest on the funds
deposited shall accrue and belong to the Local Sponsor, and shall be payable
to the Local Sponsor as the Bank and the Local Sponsor may agree
4 The Government, acting pursuant to the terms of the memorandum of
agreement, shall have the sole and unrestricted right to draw upon all or any
part of the funds deposited in the Escrow Account A written demand for
withdrawal shall be made to the Bank by the District Engineer, U S Army
Engineer District, Fort Worth, or his designee, with a copy of said demand
provided to the Local Sponsor Within ten (10) days of receipt of the demand,
the Bank shall pay to the Government the amount requested to the extent such
amount does not exceed the balance available in the Escrow Account All
payments shall be in the form of bank drafts payable to the "Finance and
Accounting Officer, Fort Worth District," and shall be mailed or otherwise
delivered to the Government as specified below in Article 9
5 Upon receipt of signed certification by the Government that no further
demand for payment of money will be made, the Bank shall complete a final
accounting and other obligations required under this Agreement, and pay over
the balance remaining to the Local Sponsor
6 The fee to be paid to the Bank for the services provided hereunder
shall be as the Bank and the Local Sponsor may mutually agree Any fee paid
to the Bank shall be the sole responsibility of the Local Sponsor The Bank
shall have no right to deduct monies from the principal escrow sum to pay for
its services In the event the Local Sponsor fails to make payment to the
Bank for its services, all claims for such payment shall be made directly
against the Local Sponsor The Government shall not be responsible for any
costs attributable to the establishment, maintenance, administration, or any
other aspect of the Escrow Account
-3-
7 Account statements shall be rendered by the Bank to the Local Sponsor
and the Government once monthly, and shall show deposits, disbursements, and
balance, and the dates thereof Upon receipt by the Bank of the certification
specified in paragraph 5 above, the Bank shall prepare a final accounting
showing all transactions relating to the Escrow Account and provide said
accounting to the Local Sponsor and the Government at the addresses shown in
paragraph 9
8 It is understood and agreed that the Bank shall not be liable or
responsible to ascertain the terms or conditions of any provision of the
aforementioned memorandum of agreement between the Local Sponsor and the
Government It is further understood and agreed that if any controversy
arises between the Government and the Local Sponsor, or with any other party
with respect to the subject matter of this Agreement, the Bank is authorized,
unless precluded by order of a court of competent jurisdiction, to disburse
monies to the Government in accordance with the terms of this Agreement
9 All notices, statements, or payments specified in this Agreement shall
be deemed to have been duly given if in writing and delivered personally,
given by prepaid telegram, or mailed by first-class (postage-prepaid),
registered, or certified mail, as follows
If to the Local Sponsor
if to the Government
City of Denton
Municipal Building
Denton, TX 76201
Commander
U S Army Engineer District, Fort Worth
P 0 Box 17300
Fort Worth, TX 76102-0300
if to the Bank First State Bank of Denton
(ADDRESS) 101 So Locust
Denton, Tx 76201
10 Nothing in this Agreement shall be considered as vesting title to the
amount deposited in the Bank except as Trustee for the Local Sponsor and the
Government for the purpose bet forth herein Title to said funds shall not
vest in the Government until payment to the Government is made as provided
herein
11 This Agreement shall take effect upon the initial deposit of funds
into the Escrow Account by the Local Sponsor and shall continue in full force
until the certification specified in paragraph 5 hereof is received by the
Bank and the balance remaining is returned to the Local Sponsor, unless
earlier terminated by the written mutual agreement of the Local Sponsor and
the Government
-4-
12 This agreement may not be amended except by written modification
signed by the parties hereto
IN WITNESS WHEREOF, The Local Sponsor, the Government, and the Bank have
executed this Agreement on the date first above written
ATTEST~~
ATTEST
City of Denton, Texas
BY
The ~De1part ient~of the Army
BY
District Engineer
The Bank
ATTEST !I ~,5YV= 1 t NkSBY
6