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T - 7 <br />"IkIMI 14ji 1 OA: C I I !'I <br />J J <br />WH <br />FiREM; I it- Dy i(cur-) I Ut I' 1�' I N­ <br />aml <br />ca f Pni 11 t ( 1 T <br />I n t c r a a I on r i i e. i m u i i le held r4t'7cur1tk <br />devo1opment, ociruemenl-n to duv(1lfj1)v1.�, A)ull 11�1 pf�jotion <br />o <br />after tho end of the f-itlendtir (111al-'ev i T, whi,—, t �-,evrcv ha F1 N, r- n <br />aatiafaotory fulf illtnumt Of UiL tvi-nn L: -F thL <br />Aoreament, an datermined by thu Coul-Wil, <br />NOW, THrRFroRF,nY ii, rrsoi,vi,�D that the Council of 010 <br />City of Mounda View ammonds the last two paractraphs of <br />RelioluLiu,ii No. 777 1(-, ro'-1: <br />All Develaiment Acireement neqotiable seovArity depailits <br />aball be deposited by tho Clerk ill P.Eild account. Tnterest <br />m-arned on the Occount in accordance wihh normal savinqs <br />sha-11 be _a i <br />account procedures ot the Banx. All interest earnea Ohall be <br />distributed accoruing to and in Oie name propnrtion an in the <br />principa) amount of each Development Acireement security depnxited <br />theraiht I ___ <br />upon wiKfactory fulfillment of the termo of '110 14VOLOPMOnt <br />AvToema-nt, an detorminead by the Council, tho Vounc4J shAll <br />a�thnriAe remittance to the developer of tho Uponited iscurity* <br />and - - any . intereat unrned and PaYALPle 0411 bO*PRiu As 800h as <br />�practicvble after the end of tne ' alendar quartur in which such <br />%a tiara tor- fii1fillmont of the 'k%rms of tMA !)vvcjopmerjt Agreement <br />S b= det'e'r"minod by tho Cumnoil and thc ailiarte-* Oter whif-h <br />the bank credits inLuKu-ZL on the deponit, The, TruaLauror shall <br />atibmit an estimate of Interest acclutid tharenn anti be authorized <br />to max* the appropriate withdrawals from the savinivi account <br />And outiMt to thG Council for p,qnrent. <br />Adopted thia <br />ATTESTt <br />J, <br />r VIA 1. r W <br />F <br />