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Home My Public Portal AboutORD11270 BILL NO. 89-69 SPONSORED BY COUNCILMANSQj� ORDINANCE NO. Z19- '�U AN ORDINANCE OF THE CITY OF JEFFERSON, MISSOURI, AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE AN AGREEMENT WITH PHILLIPS PIPELINE COMPANY FOR WORK IN CONNECTION WITH THE RELOCATION AND REIMBURSEMENT CONNECTED THEREWITH OF THE PIPELINE IN CONJUNCTION WITH THE SEVEN HILLS ROAD PROJECT. BE IT ENACTED BY THE COUNCIL OF THE CITY OF JEFFERSON, MISSOURI, AS FOLLOWS: Section 1. The Mayor and City Clerk are hereby authorized and directed to execute an agreement with Phillips Pipeline Company for work in connection with the relocation and reimbursement connected therewith of the pipeline in conjunction with the Seven Hills Road project. Section 2. The agreement shall be substantially the same in form and content as that agreement attached hereto as Exhibit A. Section 3. This Ordinance shall be in full force and effect . from and ft er the date of its passage and approval. Passed 1 Approved Ile roeoms-TW Officer ATTEST: . City Clerk Exhibit A ESCROW AGREEMENT ,Qu9� c� This Agreement made and entered into on this day of 1989, by and between the City of Jefferson, Missouri, hereinafter "City" and Phillips Pipe Line Company, hereinafter "Company" . 1. RECITAL. a. City and Company have entered into a contract dated July 20, 1989, hereinafter referred to as Relocation Contract, providing for the payment of certain funds and the performance of certain duties in connection with the City's project on Seven Hills Road; and b. Company owns and operates the pipeline which will be required to be partially relocated in conjunction with the project; and C. Company desires to secure City's payments through the form of this agreement as provided in the contract between the parties. 2. AGREEMENT. a. Now, therefore, the parties hereto mutually agree as follows: i. Escrow Funds. Central Trust Bank, hereinafter "Bank", of Jefferson City is hereby appointed escrow agent, and as escrow agent shall hold, in a separate account, the sum of Two Hundred Twenty-three Thousand Dollars ($223,000.00) subject to the terms and conditions hereinafter set forth. ii. Deposit in Escrow. City shall deposit with Bank, the escrow agent herein, the sum of Two Hundred Twenty-three Thousand Dollars ($223,000.00) , which amount is to secure the payment by City to Phillips Pipe Line Incorporated as set out in the Relocation Contract referenced above. 3. SECURITY. Bank shall hold the deposit for the benefit of Company to secure the City's performance pursuant to the Relocation Contract. If City should fail to perform in a manner approved by Company, such escrow funds as necessary shall be paid over by the Bank to Company, provided that Company's approval shall not be unreasonably withheld. The City hereby releases the escrow agent from any and all liability which the escrow agent may incur to City by reason of payment of funds to Company; and City shall look solely to Company for any money due City pursuant to this agreement or to the Relocation Contract. RM 4. QITY f S PERFORMAN CE. If City shall perform any and all obligations as set out in the Relocation Contract then all funds in the escrow account shall be returned to City together with any interest earned on said account. Should funds be expended from the escrow account the balance shall be turned over upon completion of the contractual liabilities to the City. 5. ESCROW GENT'S FEE. Any and all fees charged by escrow agent for performance under this agreement shall be billed directly to City and shall be City's sole responsibility. 6. PAYMENT. Upon satisfactory completion of the performance required hereunder and in the Relocation Contract the escrow agent shall pay over the remaining escrow money to City. The fact of satisfactory completion shall be evidenced by written approval of the City's performance by Company, which approval shall not be unreasonably withheld. Upon delivery of such written approval and payment of funds to City the escrow agent shall be discharged and released of any and all obligations arising by reason of this agreement. AM 7. REQUEST FOR PAYMENTS. Any and all requests for payment pursuant to the Relocation Contract by Company shall be directed to the City Counselor's office of the City for processing. City shall have the right to present Company either a check drawn on City's general account or to have funds transferred from the escrow account. Should City use funds out of its general account for making any and all payments the escrow account shall be appropriately and equally reduced by the amount of the payment. Should Company not receive payment in a timely fashion from City following request it shall be free to request payment directly from the escrow agent and escrow agent shall honor said request subject to the balance in the account. In no event shall the Dotal amount paid to Company exceed the amounts as set forth in the Relocation Contract. S. EQL;U4 OF REQUEST. Attached is an exhibit which is the form to be used for requesting payment which shall be sent to the City Counselor's office. PHILLIPS PIPE LINE COMPANY CITY OF JEFFERSON, MISSOURI gY By � � '14r�'vl'Kv'�''�► y'��• r ATTEST: REQUEST FOR PAYMENT PURSUANT TO CONTRACT BETWEEN PHILLIPS PIPE LINE COMPANY AND CITY OF JEFFERSON REQUEST FOR DRAW FROM ESCROW OR 0 ENE RAL FUND Comes now the undersigned pursuant to the contract entered into by and between City of Jefferson and Phillips Pipe Line Company on the 20th day of July, 1989, and pursuant to said contract requests the payment of Dollars. Draw No. Previously Drawn Amount Requested Balance of Escrow Still Subject for Payment BY Title: _ t: AGREEKENT TO SERVE AS ESCROW AGENT Comes now Central Trust Bank, by and through the undersigned, and agrees to act as escrow agent as per the terms set out in Exhibit A. CENTRAL TRUST BANK B :•s y ATTYrST i Secretary