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0 <br />'Y' <br />C j 1 1 ­1� t 1, 'Il ii Y QInn, "1�4 i -(z <br />t J.T1 F171 -t ---t-1, <br />V1 I E RE P.. i C-tu, t. tl.'m t 1-t f iiiiu ni r-1; 1- t'Y dlt.poa i Il- s a ra F. ii d a <br />i r t h a f o v i -n c �; : i ull i (,I r u 'I I i c r f i ; I y I u ,; -P- I ' ; 111,- 1 v iriiitrumajits I a nd <br />WHEREAP, I the counc4l ai2knnw1edqv.q thal- !:uLh veourity deposits <br />ary Submitted hy in onod falt!-, t.c. aLisuvv th(_-iv t-omplibnee- <br />wjt�j thm- termn rJ thoir roFapf-f-tiva Develf-irtrivant A-1rur-ments, and <br />MIEPWAS, Ow Counril lovii-on to prn%'iclu ac'aquiita safokeelling <br />o-1 propur nccnlinfln�j r" uuWh dopu-Its anti to ocurur. irt77r­ <br />Lheraun, and <br />W111-:11CAS, tho cnuncil noknowledgus that such dupomita mAy be <br />reclaim -ad by A develn"or After faithful completion of the respartiva <br />NOV, TJILRR�FiGM, HE RESOLVED th-At thd C"T"eil O&e t <br />Y <br />of Mound;, Vivw duou horuby ofitablibh the Development Eficrow ru d <br />fnr thi purpose of safakamping and protpqrly Accounting for all <br />4opoqits that are submitted tr avotro Devislopment Agreements. <br />Tht Cauncil authorizes the Firmt State Bank of Now Brighton to <br />upo a savings accuunt In th-ft nama of this Ptr*40 and her*Lv <br />4ppropriates one do]-laL (61-00) -to inalhLain said account. <br />All Developmout Aqrei-fflont -.1&qOtiAb1FA scuurity depos4.ts shvil <br />be dapavited by thc' Clerk in 3aid 'ja <br />tiarned-on the -account in necordance with normal cavings account <br />procedurox of the Pank. All interert cnrnCd r'all be dintributed <br />nucurdiny Lu and in ih- 11ome proportloti de, in the princip4e amount <br />of each Development Agreement, oecarity doposited t'hervih. Any <br />interest earned and pavable to a &t_­vL-1opGr shall be paid after the <br />last quarter in which the Dawt. credits interest on the depcsit.) <br />Upon natinfactory ft.1fillmunt of the torma of the Developmert, <br />Atmatowant, ins cluturniinod by t1V3 Council, the Council shall a%ithOtize* <br />remittance Lu vilu -1 tho dopossited security. The <br />Cl�ilh Ij-,all r1r 4.,-trrr.,!t -irrrnnA thrronn. -ind <br />L <br />be Outhori7ed to ni-��ikv thr nppropriato withdrawaln fro -In the anvings <br />account and suhPot to tho Council for pa,, mant. <br />-1 djy of Novu;nbcr, 19'.'6. <br />, Oe <br />4 <br />_L _� Z: <br />a Y n <br />