HomeMy WebLinkAbout7611RESOLUTION NO. 7611
A RESOLUTION APPROVING AN AMENDMENT TO THE ESCROW
AGREEMENT BETWEEN THE CITY OF PUEBLO AND COLORADO
STATE EMPLOYEES' CREDIT UNION, CONCERNING PUBLIC
IMPROVEMENTS IN THE GATEWAY SUBDIVISION, SECOND
FILING
BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, COLORADO, that:
SECTION 1.
An Amendment to the Escrow Agreement dated March 13, 1995, and attached
hereto, by and between the City of Pueblo, a Municipal Corporation, and the
Colorado State Employees' Credit Union, the original of which was executed on
November 1, 1990, having been approved as to form by the City Attorney, is here-
by approved.
SECTION 2.
The President of the Council is hereby authorized and directed to exe-
cute said Amendment to the Escrow Agreement for and on behalf of the City, and
the City Clerk is hereby directed to attest the same and affix the seal of the
City thereto.
SECTION 3.
After due execution and acknowledgement of this Amendment to the Escrow
Agreement, the City Clerk is directed to record said Amendment in the office of
the Pueblo County Clerk and Recorder.
ATTEST:
City Clerk
INTRODUCED APRIL 24 ,1995
B FAY KAS=C
uncilperson
APPROVE
President of the Council
AMENDMENT TO ESCROW AGREEMENT
This agreement is to amend the escrow agreement made on
November 1, 1990, between the City Pueblo, a Municipal
Corporation (City), Colorado State Employees Credit Union
(Subdivider) and Bank One Pueblo, formerly known as First Colo-
rado 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, 1997, 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 March 13, 1995.
CITY OF PUEBLO
By
resident of ity Council
ATTEST:
SUBDIVIDER
CO I
STA
Subscribed and sworn to before me on March 13 , 1995
My commission expires: 9 -16 -95
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ESCROW AGENT
By
President
Subscribed and sworn to before me on a T�;` p� o ,1995
My commission expires: --V lq'CW
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