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CITY OF LADE ELMO <br />RESOLUTION NO 2002-052 <br />A RESOLUTION APPROVING ESCROW REDUCTION FOR <br />EAGLE POINT BUSINESS PARK PHASE III <br />BE IT RESOLVED, that the Lake Elmo City Council hereby approves the escrow <br />reduction for Eagle Point Business Park Phase III, for the following completed work, based <br />on a favorable recommendation of the City Engineer in his memo dated May 29, 2002. <br />Item <br />Original Escrow <br />Remaining Escrow <br />Sanitary Sewer <br />$ 11,800.00 <br />$ <br />2,000.00 <br />Watermain <br />$ 64,623.00 <br />$ <br />3,000.00 <br />Storm Sewer <br />$ 61,484.00 <br />$ <br />3,000.00 <br />Sub -Total <br />S 137,907.00 <br />$ <br />8,000.00 <br />125% Security <br />$ 172,383.75 <br />$ <br />10,000.00 <br />2% City .Administrative Fee 2,758.14 To be coddected witb sigreed <br />Developers Agreement for Phase <br />171 <br />Adopted by the Lake Eh-no City Council the 4th day of june, 2002. <br />Lee Hunt, Mayor <br />Attest: <br />Mary Kueffner, --ii y�Administrator <br />