HomeMy WebLinkAboutMemorandum for Teutsch Partners October 1, 2013
SUBJECT Memorandum regarding environmental costs—SW Parcel.
The City of Auburn and Teutsch Partners executed a Third Amendment to Purchase and Sale Agreement
on September 12, 2013. As part of that Amendment, the parties agreed that, if environmental
remediation was required on the SE parcel, they would determine the amount to be placed into an
Environmental Escrow Account ("EAA"),The parties further agreed that the SE EAA would be managed
in accordance with the terms of the Third Amendment.
Based on the cost estimate on Attachment A to this memorandum, the parties agree that the sum of
$28,950.00 shall be held in the SE EAA.
CITY OF U6UR TEUISCH,PARTNERS, LLC
By _ By, —
Peter 8 Lewis / ohm Walker
i
Mayor