Escrow Agreement and InstructionsMarch 4, 1997
TO: ESCROW SERVICES
P.O. Box 294
Kalispell, MT 59903-0294
FROM: Vista Construction, Inc.
38880 Serban Road
Sandy, Oregon 97055
Glenn R. Uskoski
38880 Serban Road
Sandy, Oregon 97055
m
City of Kalispell
P.O. Box 1997
Kalispell, MT 59903-1997
The following documents and items are hereby deposited with
you for disposition in accordance 'with the instructions contained
in this Escrow Agreement and Instructions.
1. Executed original of LONEPINE VIEW ESTATES, SUBDIVISION
IMPROVEMENT AGREEMENT dated the /,3 day of _,
1997, wherein VISTA CONSTRUCTION, INC.; agreed to install
and construct certain infrastructure improvements
associated with the development of LONEPINE VIEW ESTATES
and LONEPINE VIEW ESTATES, PHASE 2, Kalispell, Montana.
2. A certificate of deposit issued by First Interstate Bank,
N.A. drawn by Glenn R. Uskoski, in the name of the City
of Kalispell in the amount of Forty Nine Thousand One
Hundred and Fifteen Dollars ($49,115.00) representing
125t of the cost of the remaining infrastructure
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improvements remaining to be installed or constructed i
connection with the subdivisions. i
WMIvy"As
The City of Kalispell, Vista Construction, Inc. and Glenn R.
Uskoski instruct Escrow Services as follows:
A. Escrow Services shall, during the term of this Agreement
act as trustee for the above referenced items deposited
by Vista Construction, Inc. and Glenn R. Uskoski at the
direction of the City of Kalispell.
B. Unless otherwise notified in writing by the City, Escrow
Services, upon receipt of Notice of Default specifying
work remaining to be performed under the Subdivision
Improvement Agreement, executed by the City of Kalispell,
shall deliver to the City of Kalispell the Certificate of
Deposit issued by First Interstate Bank, N.A. in the
possession of Escrow Services. A Notice of Default shall
not be delivered to Escrow Services prior to December 31,
1999.
C. Upon receipt of A Certificate of Completion, executed by
the City of Kalispell, Escrow Services shall return said
Certificate of Deposit to First Interstate Bank, N.A. for
the benefit of Glenn R. - Uskoski.
D. Upon completion of either of events specified in
paragraphs B or C, above, the responsibility of Escrow
Services shall terminate and the Subdivision improvement
Agreement shall be returned to the City of Kalispell..
E. This Escrow Agreement and Instructions is irrevocable
without mutual consent of Vista Construction, Inc., Glenn
R. Uskoski, and the City of Kalispell and notice to
Escrow Services.
040001
Vista- Construction, Inc., Glenn R. Uskoski, and the City of
Kalispell agree to indemnify and hold harmless Escrow Services for
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any claims, demands, suits, liabilities, damages or expenses in any
manner arising out of or in connection with this Escrow Agreement
and Instructions.
ESCROW RESPONSIBILITIES
Despite anything to the contrary contained in this Agreement,
Escrow Services, Inc. shall have no duty to determine the
performance or non performance of any term or condition of any
contract or agreement between the parties to these instructions,
and the duties and responsibilities of Escrow Services are limited
to those specifically stated in the instructions.
Escrow Services shall not be responsible to notify any of the
parties to this Agreement of any transaction involved in the
performance of these instructions, provided the transaction does
not prevent or otherwise hinder Escrow Services, compliance with
the instructions.
It is specifically agreed and understood that if, in the sole
opinion of Escrow Services, a disagreement exists between the
parties hereto or persons claiming under them, or any of them,
Escrow Services reserves the exclusive right to hold all documents
in its possession and connection with this escrow until a mutual
agreement has been reached between all of said parties or until
delivery is legally authorized by a final judgement or decree of
court. Escrow Services reserves the right to dispose of the
documents and funds held under this agreement by inter -pleader, or
other suitable action in the event of controversy, with venue and
jurisdiction in Flathead County, Montana.
Vista Construction, Inc. shall on demand pay all charges incurred
by Escrow Services, including escrow fees and charges.
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Time, especially time of surrender of documents to the respective
patties under this Escrow Agreement and Instructions, shall be of
the essence.
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Escrow Services shall allow examination of the contents of this
escrow by parties hereto at any reasonable time during regular
business hours. Escrow Services may, at its option, require
written authorization from either party before allowing examination
of the contents of the escrow by anyone other than the parties
hereto. I I
For purposes of notice, the address of the parties are as follows:
City of Kalispell
P.O. Box 1997
Kalispell, MT 59903-1997
Escrow Services
P.O. Box 294
Kalispell, MT 59903-1997
Vista Construction, Inc.
38880 Serban Road
Sandy, Oregon 97055
Glenn R. Uskoski
38880 Serban Road
Sandy, Oregon 97055
Dated this .2Xday..of March, 1997.
City of Kalispell
By:
Its:
Vista Construction, Inc.
By: GL-,SA1A1
Its:
W, I = W, 4 ME - ff-W---3 FZY�ME-
Glenn R. Uskoski
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ACCEPTANCE
Escrow Services acknowledges receipt of the Escrow Agreement and
Instruction, of which the above is a copy, and of the following
items: 1) Lonepine View Estates and Lonepine View Estates, Phase 2,
Subdivision Improvement Agreement and 2) Certificate of Deposit
issued by First Interstate Bank, N.A. in the name of the City of
Kalispell. Escrow Services, Inc. agrees to hold and dispose of the
items in accordance with the terms and conditions in escrow
instructions.
Dated this �-77 day of March, 1997.
ESCROW SERVICES
G
B J Y c
Its:
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