What is the Waterville subdivision escrow agreement for?

It sets out escrow funds and disbursement terms to secure subdivision improvements in place of a performance bond, including provisions for city costs and completion approval.

What information does the agreement request?

It requests developer and subdivision details, improvement descriptions, escrow agent and fund information, a completion date, and signatures. It also refers to Exhibit A for the work and cost breakdown.

Do I need a notary for the subdivision escrow agreement?

No. The agreement has no notary block; the developer and escrow agent sign and date it. It references an attached Exhibit A for work and costs.

Waterville, OH · Lucas County

No notary required

Subdivision Escrow Agreement in Lieu of Performance Bond

This agreement lets a developer provide escrow funds instead of a performance bond for subdivision improvements submitted to the City of Waterville.

What this form is

A developer uses this agreement to make escrow funds available to secure completion of subdivision improvements. It identifies the subdivision, improvements, escrow agent, funds, estimated city costs, and completion date, and describes how the escrow funds may be disbursed. The agreement refers to an attached Exhibit A with a detailed breakdown of work and costs.

Who needs it

A developer presenting a subdivision plat and arranging escrow funds for subdivision improvements may use this agreement in place of a performance bond.

How to submit it

Submit it to the city department named on the form; check the city website for current contact details.

About notarization

This document is signed without a notary; the developer and escrow agent sign and date it, and the agreement references an attached Exhibit A for work and costs.

How to submit this form

1
Download The Agreement
Download the Subdivision Escrow Agreement in Lieu of Performance Bond PDF.
2
Complete The Agreement
Fill in the developer, subdivision, improvement, escrow, fund, and completion details requested on the agreement.
3
Gather The Work And Cost Breakdown
Attach Exhibit A with the detailed breakdown of the improvement work and costs referenced in the agreement.
4
Sign And Submit
Have the developer and escrow agent sign and date the agreement, then submit it to the city department named on the form.

Frequently asked questions

What is the Waterville subdivision escrow agreement for?: It sets out escrow funds and disbursement terms to secure subdivision improvements in place of a performance bond, including provisions for city costs and completion approval.
What information does the agreement request?: It requests developer and subdivision details, improvement descriptions, escrow agent and fund information, a completion date, and signatures. It also refers to Exhibit A for the work and cost breakdown.
Do I need a notary for the subdivision escrow agreement?: No. The agreement has no notary block; the developer and escrow agent sign and date it. It references an attached Exhibit A for work and costs.
How do I submit the subdivision escrow agreement?: Submit it to the city department named on the form; check the city website for current contact details.

Need something notarized?

This Subdivision Escrow Agreement in Lieu of Performance Bond doesn’t need a notary — but if you have another Waterville form that does, a commissioned online notary can help.