Resolutions-2017-064

DocuSignEnvelopeID:C0AB2B92-03E4-4151-9CCA-2F3EDA600EB9 Prepared byandafter: Michael J.Pugh 425EOakdale Boulevard, Suite 201 ( 319) 351-2028 recording return to: Pugh Hagan Prahm PLC Coralville, IA52241 Fax (319) 358-5560 ESCROW AGREEMENT Tiffin Heights East THIS ESCROW AGREEMENT ismade this ____dayofAugust, 2017, byand between theCityofTiffin, Iowa ("City") andThe Boulders, LLC ( SSETH: RECITALS A. Developer has requested that theCity approve itsFinal Plat forTiffin Heights East, B. Asacondition ofFinal Plat approval, theCity hasrequired Developer deposit the sum ofEleven Thousand and00/100Dollars ($11,000.00 obligation tocomplete thefollowing items: (i)finish thefinal approximately 14e1, Avenue; and (iii)install approximately 660square feetofsidewalk tothestorm water retention A TERMS AND CONDITIONS Inconsideration oftheRecitals and themutual covenants setoutbelow, itisagreed as follows: 1. Prior tofinalplat approval, Developer will deposit theEscrow Amount with the Citytobeheldinescrow anddisbursed toDeveloper upon completion oftheEscrow Items in accordance with theapproved construction plans. TheCity shall provide awritten receipt acknowledging receipt oftheEscrow Amount. 2. The Escrow Items shallbeconstructed andinstalled bytheDeveloper according totheplans andspecifications approved bytheCity Engineer oftheCity ofTiffin, whoshall 00215473}