HomeMy WebLinkAbout7273RESOLUTION NO. 7273
A RESOLUTION APPROVING THE AMENDMENT TO
THE ESCROW AGREEMENT DATED NOVEMBER 1,
1990, BETWEEN THE CITY OF PUEBLO, THE
COLORADO STATE EMPLOYEES CREDIT UNION,
AND BANK ONE PUEBLO
BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, COLORADO, that:
gprTTnN 1
The amendment to the Escrow Agreement dated November 1, 1990, between
the City of Pueblo, the Colorado State Employees Credit Union, and Bank
One Pueblo, a copy of which is attached, having been approved as to form
by the City Attorney, is hereby approved.
SECTION 2.
The President of the City Council is hereby authorized and directed
to execute said Amendment for and on behalf of the City of Pueblo and the
City Clerk is directed to attest same and affix the seal of the City thereto.
SECTION 3.
This Resolution shall become effective upon final passage and approval.
INTRODUCED December 13 ,1993
ATTEST:
C 1 ty C Trk
By JOHN CALIFANO
Councilperson
APPROVED
Presi nt of the Council
AMENDMENT TO ESCROW AGREEMENT
This agreement is to amend the escrow agreement made on
November 1, 1990, between the City of Pueblo, a Municipal
Corporation (City), Colorado State Employees Credit Union
(Subdivider) and Bank One Pueblo, formerly known as First Colorado
Bank of Pueblo (Escrow Agent).
Paragraph 7 of the parties' agreement of November 1, 1990, is
amended to read as follows:
7. In the event Subdivider fails to install all or any part
of the required public improvements described in Exhibit "B" by
November 1, 1994, Escrow Agent shall upon demand from the City's
Director of Public Works pay the balance remaining in the escrow
account to the City and the City may use the amount so paid to
complete all or any part of such public improvements.
Dated on November 1, 1993.
CITY OF PUEBLO
By: / 7
Pre dent of City Council
Attest:
Ci Clerk
SUBDIVIDER
Subscribed and sworn to before me on /z/0 L/ , 1993.
My commission expires: / ,:� -,5 9
Notary Public
ESCROW AGENT
By:
Pres' ent
Subscribed and sworn to before
My commission expires:
FS M. /1 0 0