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MUNICIPAL ORDER NO. � 9 T
A MUNICIPAL ORDER ACCEPTING AN ESCROW AGREEMENT IN
LIEU OF A BOND FOR BROOKS PROPERTIES INC. FOR PROPERTY KNOWN AS
WEST PARK VILLAGE APARTMENTS, PHASE II
WHEREAS, Brooks Properties Inc. acquired certain real
property located in the City of Paducah, Kentucky; and
WHEREAS, Brooks Properties has tendered a subdivision
plat affecting said property for approval by the City; and
WHEREAS, acceptance of the proposed subdivision plat
by the City is subject to adequate assurances being received
for the completion of the roadway, sanitary sewer and other
matters, in accordance with the proposed subdivision plan and
the City's specifications; and
WHEREAS, the parties have reached an agreement to
establish an escrow account with Citizens Bank & Trust Company
to provide the necessary assurances for satisfactory completion
of the above-mentioned improvements.
BE IT ORDERED BY THE CITY OF PADUCAH, KENTUCKY:
SECTION 1. The City of Paducah accepts an Escrow
Agreement in lieu of a bond for Brooks Properties Inc. for the
completion of the roadway, sanitary sewer and other matters, in
accordance with the proposed subdivision plan and the City's
specifications for the project known as "West Park Village
Apartments, Phase II" as approved by the City's Engineering
g
Department. A copy of this Agreement is attached hereto and
incorporated by reference as if fully set out herein.
SECTION 2. This order shall be in full force and
effect from and after the date of its adoption.
ATTEST:
it Clerk
Adopted by the Board of Commissioners7, 1994
Recorded by Lenita Smith, City Clerk, J -u- 7, 1994
mo/escrow