94-02 ESCROW AGRMNT�
0
�l�� L• � N[wr�� • �
♦^D��E•S �. �� I
•T� . .��f ^ �.I��� � ( �
•. c_�, ••..�sc-. sa.a� �
ESCRO�: AIv'D I2v'�L*'��II'ICATIO`� AGFE�*SEE2rT
THIS AGRE� :? is made this � da}• of � .� .�
betveen the City of Fridle} (vhich shall be called the "Escrov
Agent") and �j�n �d!/�cC_ � �-��Glj�� of �/yO.lft� f���'/��D/'"�/�ridle�•,
Y,innesota (vho shall be called the "ovner").
BECAL'SE the ati�nez has contracted uith HbS Asphalt, Inc. foz
the construction of a paved dziveva�• at their above address,
BE.CAL'SL. H6S Asphalt Inc. is requiring ad�ance i'a:�'�"�' ;'1 ,' :.
co--�,e-�cinE the con�'ru:tic�-� �f this dzi��ewa�•. and
BECAL'SE the ��Escrov Agent'� believes it is in the best intezest
of the public to encourage the paving of un�aved dzi��e�:a�•s,
IT IS AGREi.D B�' T}i:. PARTIES AS FOLL0::5:
1. That upon the signing of this agreeWe^t thc• o�-ner s��311
i s"
pa�• te the Escro�: Age^t the s� o: S�J�/ `.�:},ic}�
su� is the anount requized to pa�• in ful] for the dri��c•-
�:a�• pa�•ing to bt perforr�ed b� ��HbS". This sur shall bc
held bt• the Escrow Agent in trust until the constructi�n
of the drive�.�a�• is co�pleted. Further this a^our.: s�,�l ]
not earn ar.�• interest.
2, t'pon the "Escro�: A�ent" receirins �:rittea conser.t fro-
the "oti-nez" that the paving of the drive�:a� is co�,�lete�
then the "�scrav Agen�" shall releas� to °�N6S" the a^our.t
referred to in paragraph 1 above. The oL-ner shall nct
unreasonablS• vithhold the gi��ing of this written cor.se^t.
3. In the event that the Escrov Agent receives vritter
natice fzo� either the ovnez oz "HbS" that they car.nc:
agree as to vhether che funds shall be rEleased to "HLS",
then the Escro�: Agent may deposit all r�air.ing fun�s ir,
�
i
�
w[�� C• • '�[wr�� I ♦ �
•^:��t•S �• 1w
•T .� .l�1 ^ ���rJ� � f I I
t� �.�' Y \\�51�� ��ii
I
Anoka County District Court, and all costs and expenses
and attozaey's fees of the Escros; Agent ma� be paid or
retained by said Escr w Agent out of this sum.
4. The ovner acknovledges that the Escrov Agent bas not
made any express or implied �arranties to the owner ahout
the qualit} or nature of vork vhich H6S Asphalt, Inc.
agrees to pezform. For this reason� the owner a�rees to
release and hold harmless the City of Fridle} for an�•
injury or da�age vhich the oL� er ma�• sustain as a result
of the vork being done b�• Hb5 ��phalt Inc.
Dated: � -/�
Cit}• of Fridle}•
B}--- -
Its Pu'.;lic 1:orks Uirc�ctor
t�=��., � _ C .✓ �G .
B�' �!� _ ��/�'�� � �
Cr.-n c r
g}.
U,-ner
t
l ��
S�xi�, � ��� �{-�
� l f-- �
♦ r.� , � �+t �
If ,
�
, w
i ..�•
' �' � V
= b
• � 3 �' . °--
�
��
�
�
,
�
�� ��� �_
_ . ���.
.�,;� �� �. << Qo�T�
�
� ., � , ��
� , s . �� �-
. 1
� �`�`r
�j �.� 1 �,:f --�—
�' `� . � _ _
'.
�