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AMENDMENT TO ESCROW AGREEMENT
THIS AGREEMENT, made the 1st day of October, 1987, by and W �►,
between House Craft Builders, Inc. (House Craft), Jerold M. �n
Weisburd individually (Weisburd), Commonland Crescent Development
Corp. (Crescent), and the Town of Ithaca, Tompkins County, New a-
Q
York (the Town).
WHEREAS House Craft, Weisburd and the Town have previously st C
entered a certain Escrow Agreement dated September 6, 1983 and `e-`_^
recorded the same date in the Office of the Tompkins County Clerk y
in Liber 26 of Miscellaneous Records at page 643 (the Agreement)
to assure the completion of certain roads to be dedicated to the
Town in Commonland Community Subdivision and the completion of V 1V)
certain other improvements in connection with said subdivision; v�
and
WHEREAS, pursuant to said Agreement a certain escrow account
was established and funded by House Craft at Norstar Bank under
the control of Peter J. Walsh as escrow agent for the purposes
above -stated; and
WHEREAS there is presently on deposit in said escrow account
the sum of $5,000.00; and ,•p
WHEREAS the Town has previously approved certain amendments
to the said Commonland Subdivision plan so as to provide for the
construction of clustered dwelling units in an adjoining
subdivision now known as Commonland Crescent Subdivision; and 4
WHEREAS the property in said adjoining subdivision was -0 14< M
conveyed by House Craft to Crescent by deed dated June 30, 1987,
recorded July 1, 1987 in the Tompkins County Clerk's Office in v Q
Liber 627 of Deeds at Page 850; and -'JV
WHEREAS, in accordance with the plans for the Commonland 0 o
• Crescent subdivision as approved by the Town Planning Board, o
Crescent has constructed certain sanitary sewer lines within
Commonland Crescent Subdivision, and said sanitary sewer lines
are complete and acceptable to the Town except for the provision �H
and installation of a certain automatic switching control panel; _--�
and
WHEREAS the road known as Penny Lane (North) has not been 4q, o,
completed to Town specifications so that its dedication may not v, fn
presently be accepted by the Town; and
WHEREAS the Town may not issue certificates of compliance or
occupancy unless and until said Penny Lane and said sanitary �o o
sewer lines have been completed and accepted by the Town or 0. y
adequate security given to assure the completion thereof; and �,�
WHEREAS the Town deems the sum of $9,000.00 to be adequate
security for the performance of the said obligations; and .�
WHEREAS Crescent is prepared to place in said existing
escrow account an additional sum of $4,000.00, and is willing to p M a
enter into said escrow agreement as amended herein, and House `_`� -mac 1►
Craft consents to the application of the sums already on deposit J "
in said escrow account to assure the completion of the above-
. mentioned improvements. Z
NOW, THEREFORE, in order to induce the Town to issue
certificates, of compliance or occupancy and further building QC v
permits for the construction of dwellings on the lots located in
• said Commonland Crescent Subdivision, and in consideration of the v� .
premises and the mutual agreements hereinafter set forth, the
said Agreement is hereby amended as follows:
1. The Town will issue certificates of compliance or v a,
occupancy and building permits for construction in Commonland AVn
Crescent Subdivision on application by Crescent, provided that
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31 348
such certificates and permits may lawfully be issued in
compliance with all applicable ordinances, laws, rules and
regulations, and provided that House Craft and Crescent have
furnished a cash escrow in the total amount of $9,000.00, or
other security approved by the Town, and have executed all
documents necessary to convey title to the streets and sanitary
sewer lines to the Town and any easements necessary to the
maintenance and operation of the said sanitary sewer lines, and
has furnished all other title, maps, and other documents required
by the Town and has paid for all title searches, filing and
recording fees and other expenses incurred in this matter. House
Craft and Crescent jointly and severally agree to pay all such
expenses upon demand by the Town.
2. Notwithstanding the foregoing, House Craft and Crescent
agree to complete the streets, sanitary sewer lines and
improvements hereinabove mentioned prior to October 1, 1988.
Said Penny lane must be completed -in accordance with the
specifications established by the Town for completion of Town
highways. Said sewer lines shall be completed in accordance with
the requirements of the Town Engineer, the Tompkins County Health
Department, and the approved subdivision plans. The final
determination as to whether such street and other improvements
have been completed in accordance with the specifications and
approvals of the Town shall be made by the Town Highway
Superintendent and the Town Engineer.
3. If House Craft and Crescent fail to complete the said
Penny Lane and sewer lines as required by this agreement, or
otherwise default in the performance of this agreement, the Town
may .proceed to complete said street and improvements and House
Craft and Crescent agree to pay the Town on demand (i) the cost
of completing said street and improvements, and/or (ii) any other
expense or liability incurred by the Town hereunder, including
reasonable attorney's fees. The aforesaid escrow account, in the
amount of not less than $9,000.00, is pledged as partial security
for the performance of such work and expenses. It is expressly
agreed that on demand by the Town, the escrow agent shall release
to the Town all or such part of the escrow funds as shall be
needed to pay the costs set forth in items (i) and (ii) herein,
such demand to be in' writing, delivered to the business address
of the escrow agent with copy of such notice mailed to House
Craft, Crescent and Weisburd.
4. If House Craft and Crescent believe that the street
improvements and sewer line improvements have been constructed in
accordance with this agreement, they may apply for a reduction of
the security funds. If the Town approves or accepts the
improvements, the security funds shall be reduced by an amount
which will leave a balance of escrowed funds sufficient to
provide for the. completion of the remaining improvements, which
balance shall be determined by the Town in its sole and absolute
discretion. Approval of the improvements by the Town shall be
made jointly by.the Town Engineer and the Town Supervisor.
5. If the Town accepts the construction of any
improvements, it will promptly notify House Craft, Crescent, and
the escrow agent. of.the amount by which the security funds are
reduced, or, if it does not accept the same, the Town shall, not
later than thirty (30) days following the application, give a
written statement of its reasons.
6. If House Craft and Crescent disagree with the decision
of the Town and the parties cannot resolve their differences
within 120 days following the rendition of the Town's reasons in
writing, review of the Town's determination may be had by Article
78 proceeding.
7. To . the extent that the Town is required to expend any
funds for the completion of said street or the sanitary sewer
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lines, or for any other purpose arising out of this agreement,
for which the Town has not been compensated, the Town at its
option may bring an action at law to enforce the collection of
such amount and/or may refuse to issue further building permits,
conditional or final certificates of occupancy or compliance
until such time as such amounts have been paid.
S. Until Penny Lane and the sanitary sewer lines are
completed in accordance with the Town specifications, the Town
assumes no liability resulting from the issuance of a building
permit for construction on a lot fronting on said street, or
arising from the use of said street or the sanitary sewers which
are the subject of this agreement, by any person. Any person
using such street or sewers does so at his or her own risk
insofar as the Town is concerned. Crescent, House Craft and
Weisburd will jointly and severally indemnify, save and hold
harmless the Town, its officers, board members, contractors,
employees and any member of any town board or agency from any and
all suits, actions, claims, expenses (including reasonable
attorney's fees), damages or liabilities they may incur because
of any injury to persons and property occurring prior to final
dedication and acceptance by the Town of any streets, sewers or
other improvements as provided by this agreement. Crescent,
House Craft and Weisburd will furnish a good and sufficient
public liability insurance policy insuring the Town against any
such liability, damages, and so forth, as specified above in such
amounts and with such coverage and companies as the Town, upon
recommendation of the Town's insurance advisor, shall reasonably
require.
9. Crescent, House Craft and Weisburd jointly and
severally agree that all proper measures will be taken to provide
safe access over said street for pedestrian and vehicular
traffic, and all other reasonable anticipated uses of said road
until such time as the work is completed to the satisfaction of
the Town and the Deed is recorded.
10. Crescent and House Craft have executed and delivered
concurrently herewith, a warranty deed conveying the portion of
Penny Lane and a conveyance of the sewer easements which are the
subject of this agreement to the Town for purposes of a public
highway and sanitary sewer. These conveyances are received by
the Town in escrow and will be held by the Town in escrow until
the Town Board accepts the street and sewers when they have been
completed according to Town specifications. Until such time,
said road and sewers will not be public streets and sewers.
11. As an accommodation to provide the best street for the
public, the Town will provide winter maintenance of Penny Lane
(North), provided, however, that the provision of. such
maintenance by the Town shall not be deemed to alter the
indemnification provisions of this agreement.
12. This agreement is contingent upon approval and
authorization of the Town Board of the Town of Ithaca.
13. Except as otherwise set forth herein, determinations by
the Town under this agreement shall be made by the Town
supervisor unless and until the Town Board designates another,
Town agency or person to perform this task.
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31 mm 350
IN WITNESS WHEREOF the parties have hereunto put their hands
and seals the date and year first above written.
.. .
HOUSE CRAFT BUILDERS, INC. `
W .' 1 n�`t�•' i
COMMONLAND CRESCENT DEVELOPMENT CORP:-*'•
L6
Jerold Weisburd individuall
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TOWN OF ITHACA
Peter J. Walsh, as escrow agent, joins in the execution of this
Amendment to Escrow Agreement to evidence his consent to
appointment as escrow agent pursuant to the terms of this
Agreement.
r�
etber J. a sh PETER J. WALSH
Notary Public, State of New York
No 4721245
STATE OF NEW PORK) Commissionied in n Expiresmpkins November 30 19_C
COUNTY OF TOMPKINS) ss.i
On this 21st day of October, 1987, before me personally
appeared Jerold Weisburd, to me known and known to me to be the
same person described in and who executed the within instrument
and he duly acknowledged to me that he executed the same.
No ary Public KRIS MELDRUM
Notary Public, State of New Yal
STATE OF NEW YORK) No. U32113
COUNTY OF TOMPKINS Sao: f?ualifled in Tompkins County O
Commission Expires March 30,
On the 21st day of October, 1987, before me personally came
Claudia Weisburd, to me known, who, being by me duly sworn, did
depose and say, that she resides at Ithaca, New York, that she is
the Secretary of House Craft Builders, Inc., the corporation
described in and which executed the above instrument; that she
knows the seal of said corporation; that the seal affixed to said
instrument is such corporate seal; that it was so affixed by the
order of the Board of Directors of said corporation, and that she
signed her name thereto by like order.
1SrPub c, a
�
tary P b No.4721245
Qualified '
in Tompkins County
Commission Expires November 30,1
4
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• LIER 31 W 351
STATE OF NEW YORK ) so.:
COUNTY OF TOMPKINS)
On the 21st day of October, 1987, before me personally came
Claudia Weisburd, to me known, who, being by me duly sworn, did
depose and say, that she resides at Ithaca, New York, that she is
the Secretary of Commonland Crescent Development Corporation, the
corporation described in and which executed the above instrument;
that she knows. the seal of said corporation; that the seal
affixed to said instrument is such corporate seal; that it was so
affixed by the order of the Board of Directors of said
corporation, and that she signed her ame thereto by like order.
Q-- &j4t�s�
OA
tart' ° uNo.47212a5
dumified in Tompkins County 4d
commission Expires November 30,1900
STATE OF NEW YORK )ss.
COUNTY OF TOMPKINS )
On this 21st day of October, 1987, before me personally came
Noel Desch, the Town Supervisor of the Town of Ithaca, the
municipality described in and which executed the above
instrument; that he knows the seal of the municipality, that the
seal affixed to said instrument is such municipal seal; that it
was so affixed by the order of the Town Council of said
municipality, and that he signed his name thereto by like order.
o blic
JEAN H. SWARTWOOD
Nea Pubk St a e rawrat
STATE OF NEW YORK ) t>fFm
COUNTY OF TOMPKINS) ss'' F•b.2%199p
On this 21st day of October, 1987, before me personally
appeared Peter J. Walsh, to me known and known to me to be the
same person described in and who executed the within instrument
and he duly acknowledged to me that he a ut th same.
Notary Public
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commission Embss Amm 31. 190
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