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MUNICIPAL ORDER NO. 1 ' '2-
A MUNICIPAL ORDER ACCEPTING AN ESCROW AGREEMENT IN LIEU
OF A BOND FOR EAGLEBROOK SUBDIVISION FOR GENESIS GROUP, INC., FOR THE
SUBDIVISION OF PROPERTY LOCATED ON HOLT ROAD
,i WHEREAS, Genesis Group, Inc., acquired certain real property located in the
City of Paducah, Kentucky; and
WHEREAS, Genesis Group, Inc., 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, storm
drainage systems, 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 Peoples First Corporation of Paducah, Kentucky, 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 Genesis Group, Inc., for the completion of the roadway, sanitary sewer, storm drainage
systems and other matters, in accordance with the proposed subdivision plan and the City's
specifications for the project known as "Eaglebrook Subdivision --Phase P', as approved by the
City's Engineering Department.
SECTION 2. This order shall be in full force and effect from and after the date of
its adoption.
ATTEST:
e a Smith, City Clerk
Adopted by the Board of Commissioners, November 12, 1996
Recorded by Lenita Smith, City Clerk, November 12, 1996
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