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3 <br />TERMINATION OF CONSTRUCTION ESCROW <br />AGREEMENT <br />The following persons are parties to this agreement: <br />1. The City of Mounds View, Minnesota, hereinafter "City"; <br />2. The Stanley Rybak Estate, by Marcella M. Rybak, Ad- <br />ministratrix, and the heirs of that Estate, e;t such <br />time as the Estate shall be closed by the Probate <br />Court of Ramsey County, Minnesota, hereinafter "Estate"; <br />Certain funds are presently held in escrow with the Escrow <br />Agent listed below, and the terms of that Escrow are essentially <br />as follows: <br />A. A sum of One Thousand ($1,000.00) Dollars is to be held <br />and is being held pursuant to City of Mounds View Development <br />Agreement No. 86-77, Exhibit 2A, in order to provide, consistent <br />with paragraph 8 of that Agreement, ". . . a $1,000.00 security <br />for seven years to guarantee the ponding area and control struct- <br />ure," as set forth in that Agreement. Since the Estate is being <br />Cclosed such sum shall be transferred to an account at the First <br />State Bank of New Brighton, in the names of the four heirs of <br />the Estate, (who shall provide their Social Security Numbers to <br />the Bank for the purpose of designation of interest receipt and <br />tax accounting responsibility);and, further, such sum shall be <br />held until December 30, 1994, and, after provision for such <br />use of the money (principal sum) as may be required by the guar- <br />antee above set• forth, any remaining principal and the accrued <br />interest shall be released to the Estate heirs, or their assigns, <br />on December 31, 1994, and the security required by aforesaid <br />Development Agreement shall then cease. <br />B. The Construction Escrow Agreement had provided for <br />' I theescrowing of the sw.k of One Thousand Five Eiundred ($1,500.00) <br />�C Dollars for the comoletion of a weir structure or drainage <br />