Resolutions-2004-45

CITY OF TIFFIN RESOLUTION NO. 2004- 4 5 A RESOLUTION ACCEPTING THE INFRASTRUCTURE OF SONGBIRD ESTATES PARTS - 6, 7, and 8 AND AUTHORIZING THE RELEASE OF THE FUNDS HELD BY THE -CITY PURSUANT TO AN ESCROW AGREEMENT BETWEEN THE CITY AND THE OWNER/ DEVELOPER OF SONGBIRD ESTATES, PARTS 6, 7, AND, 8,- TIFFIN IA WHEREAS, theCity of,Tiffm and the Owner/ Developer of Songbird Estates entered into an Irrevocable Standby Letter of Credit recorded in Book 3216, Page 479 regarding Songbird Estates Parts 6; 7, -and 8, for funds to provide for the costs of any possible future repairs of the infrastructure in Song Birds Part 6, 7, and 8, Tiffin; Johnson County,' Iowa; and said- Agreement expiredJanuary e 12, 2004, and k... WHEREAS, at the expiration of the above Agreement, the City and the. Developer in writing by virtues of an Escrow Agreement, that certain repairs or agreed; . improvements remained to be made .to the covered infrastructure as itemized by a letter dated December 4, 2003, from City Engineer Michael Hart to Developer Tom Lawrence; i and WHEREAS, pursuant to said Escrow Agreement Lawrence and C& L Development, L.L. C. provided a check for $ 11, 200 that was placed into Escrow by the City to cover the cost of the repairs noted in the Hart' s Decembef 4, 2003 letter, in lieu of the City' s right to draw upon the Irrevocable Letter of Credit; and r WHEREAS, no further deficiencies in the infrastructure have been identified and the Owner/ Developer( s) of Songbird Estates Parts 6, 7, and 8 has substantially completed all - public improvements as required under • an Agreement recorded October 22, 1993, in Book..1639, Page "109, records of the kecorder' of Johnson County, Iowa, and including. all itemized repairs and improvements as shown. in the letter dated December 4, 2003 from City Engineer Michael Hart to Developer Tom Lawrence; and therefore, the City Engineer recommends ' acceptance of all streets, " sanitary sewers, stormwater sewers; and` watermains in Songbird Estates Parts 6, 7, and -8. WHEREAS, C& L owes the City for certain amounts due by the Developer for engineering inspection services provided; to ,the City and also for 'street signs and their installation and other miscellaneous charges. . NOW, THEREFORE; BE IT RESOLVED, that the: City of Tiffin City Council hereby accepts the public improvements' in Songbird' Estates, Parts' 6; 7, and 8, specifically, the streets, sanitary sewers;- storms sewers;,`, and kwater' main;, as ' required by the above- mentioned agreements and -hereby -releases .the Owner/Developer from the requirements of the Agreement recorded October 22, 1993, in Book 1639, Page 109, and hereby,. releases the Owner/ Developer - from the Standby Letter 6f Credit recorded in Book 3216, Page 479; and from the above- described Escrow Agreement and authorizes the refund of the escrow amount of $ 11, 200 to the- emitter, " Songbird Estates",, less outstanding y.. rw Page 1 on2 , r 4 C:\ WINDOWS\ Temporary Internet Files\ OL.. K6342\ reso accept iin ruts 6 7 S rel `of escrow fundsII. doc Last printed 6/ 16/ 2004 5: 10 AM kd