Village Council
Kelleys Island
Ohio 43438
Re:Certificate of Deposit (amount)
(Name of Subdivision)
Gentlemen:
At the request of (Name of Developer), we are holding Certificate No. in the amount of
$ .
We understand the purpose of this deposit of $ , is to further assure the Kelleys Island Council that the streets and storm sewers in (the/this phase of) construction for (Name of Subdivision), located in Erie County, Ohio, will be satisfactorily and faithfully performed; also that this method of deposit is being used in lieu of (Name of Developer), and until the (Name of Developer) has faithfully discharged its obligations.
When this subdivision is released, please notify us by letter.
Yours truly,
Signed: (Authorized officer of bank)
(Ord. 537, passed 7-19-90)