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Public Works <br /> Engineering <br /> ~ City of Eugene <br /> Februa 7, 2007 244 East Broadway <br /> rY Eugene, Oregon 97401 <br /> (541) 682-5560 <br /> (541)682-8410 Fax <br /> Umpqua Bank (formerly Centennial Bank) <br /> 675 Oak Street <br /> Eugene, Oregon 97401 <br /> Subject: Escrow No., Son Blaze Village PUD; PD99-04, Z99-12; East Ridge PEPI Project #4079, <br /> <br /> ' Contract #2003-0513; Moon Mountain Drive Improvements, PEPI Project #4064, <br /> Contract #2004-0501, Glenwood Drive Improvements, Contract #2007-0015, PEPI <br /> Project #'s 4234 & 4311 <br /> A Cooperative Improvement Agreement was established on or about August 14, 2001, in the name of <br /> East Ridge Development, LLC (formerly Blazer Construction) to set money aside to insure the <br /> com letion of the re uired ublic im rovements for the Son Blaze Villa a PUD. The Cit <br /> p has received <br /> q p p 9 Y <br /> a request from Mr. Greg Daniels to provide concurrence for the release of the Phase 2 funds. <br /> The escrow instructions say that, upon written concurrence from the City Engineer the Phase 2 funds <br /> may be released to East Ridge Development, LLC when any of the following events occur. - <br /> 3.3.2.1 Blazer (now East Ridge Development, LLC) is able to obtain from the City final PUD <br /> approval for the PUD and tentative subdivision approval for any of the East Area residential <br /> phases of the PUD and a bond is in place and approved by the City for the Phase 2 <br /> Improvements in accordance with the ODOT regulations then in effect. <br /> 3.3.2.2 A bond is in place and approved by the City for the Phase 2 Improvements <br /> 3.3.2.3 The Phase 2 Improvements have been completed. <br /> 3.3.2.4 The PUD has been legally determined to have expired and of no further force or <br /> effect. <br /> Per 3.3.2.2, the Developer has deposited funds with the City to allow contract award (and bonding) <br /> of the Phase 2 im rovements. This letter is to authorize the release of $275 000.00 all funds in <br /> P , <br /> the Phase 2 account, payable to East Ridge Development, LLC. <br /> Please call Peggy Keppler at 682-2869 or by a-mail a# Peggy.A.Keppler@ci.eugene.or.us, if you <br /> have any questions. <br /> Respectfully, <br /> IV~~Idrk Schoeni P.E. <br /> City Engine <br /> cc: Gabriel Flock, PDD <br /> _ . <br /> <br />