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Page 1 of 13
Maricopa County
Purchase Agreement and Escrow Instructions
Title Company
Security Title Agency
Date
March 20, 2024
Address
4722 N. 24th Street
Phone
602-230-6271
City
Phoenix, Arizona 85016
Fax
602-926-0452
Escrow Officer
Jason Bryant
Email
jbryant@securitytitle.com
Escrow No.
15210642-015-JB6-SW
Grantor:
Bank of America, National Association, a national banking, who acquired title
as Bank of America, N.A., a national banking association
Phone:
310-956-3464
Mailing Address:
100 N. Tryon Street; Mail Code NC1-007-25-50; Property ID: (AZ3-128)
Email
notice@bofa.com
City, State Zip
Charlotte, North Carolina 28255
Grantee
Maricopa County, a political subdivision of the State of Arizona
Mailing Address:
Real Estate Department, 2801 W. Durango Street, Phoenix, Arizona 85009
MARICOPA COUNTY shall pay directly to the Grantor, or
deposit with the Title Company if escrowed, the purchase price
plus all lawful costs incidental to closing as follows:
Sub-
Object
Code
Charges and Disbursements to be paid from Grantor's funds as
follows (check all that apply):
Escrow & Title Fees
Escrow Fees
TBD
Total Acquisition of Grantor's Property: Full release of all
monetary liens and encumbrances, and leases of any kind. Pay in
full all due and delinquent real property taxes and general and
special improvement assessments. Prorate the current year's real
property taxes on closings that occur on or after the 3rd Monday
of August each year. Escrow Agent shall withhold the prorated
amounts from each party and pay the lien of the current year's
taxes in full.
Title Policy Fees
TBD
Title Report
$ 0.00
Title Report Credit
$ 0.00
Total Escrow & Title Fees
TBD
14
Recording Fees:
Release & Reconveyance
TBD
Release of Lease
TBD
Total Recording Fees
TBD
14
Partial Acquisition of Grantor's Property: Partial release of all
monetary liens and encumbrances, and leases of any kind. At the
discretion of Maricopa County, pay due and delinquent property
taxes and general and special improvement assessments,
including full payment of taxes and assessments on individual
assessor parcels within Maricopa County's partial acquisition, and
any Certificate(s) of Purchase.
Other Charges:
Release Fees
TBD
Consent Fees
TBD
S.R.V.W.U.A.
TBD
Taxes -Prorated
TBD
Total Other Charges
TBD
14
Sub Total
Easement: Consent to temporary easement by secured party.
Purchase Costs:
Land*
$ 71,254.00
11
TCE*
$ 25,916.00
12
Improvements*
$ 10,100.00
10
Total Purchase Price $107,270.00
Total Escrow & Title Costs
TBD
14
Total Compensation
$ 107,270.00
TOTAL WARRANT**
TBD
*Escrow and title policy fees based on this amount only.
**Sum of "Total Closing Costs" and "Total Compensation" only.
Project Name:
Northern Parkway 99th Ave-87th Ave
Project
Number:
TT0372
Assessor Parcel No.:
142-55-503
Item No.
D24446
Right of Way Agent:
Luis Alonzo
Telephone #
602-653-5998
Page 2 of 13
This Maricopa County Purchase Agreement and Escrow Instructions (the “Purchase Agreement”) between GRANTOR and GRANTEE sets forth the
terms and conditions upon which GRANTOR will convey to GRANTEE, certain property interests for the Total Purchase Price (“Purchase Price”).
GRANTOR shall transfer fee title by Special Warranty Deed (“Deed”) attached hereto as Exhibit “A-1” and “A-2” and made a part hereof, a certain
portion of GRANTOR’s real property known as APN: 142-55-503, located in Maricopa County, Arizona (the “Property”), as defined and depicted in
Exhibit “A-1” and Exhibit “A-2” attached hereto and made a part hereof (the “Acquisition Parcel”). GRANTOR shall also convey to GRANTEE a
temporary construction easement in the form shown on Exhibit “B-1” attached hereto and made a part hereof, in over and across a portion of the
property (the “Temporary Easement Area”) as defined and depicted in Exhibit “B-1” and “B-2” attached hereto and made a part hereof in connection
(the “TCE”).
1.
Following the execution and delivery of this Purchase Agreement, Deed and TCE to the above Title Company as Escrow Agent, said agent
is directed to deliver said conveyance to MARICOPA COUNTY, title to said Acquisition Parcel to be transferred upon execution of the Deed, TCE
and any other applicable conveyance documents by the MARICOPA COUNTY BOARD OF SUPERVISORS.
2.
Instructions to Escrow Agent: Escrow Agent shall deposit all escrowed funds in escrow account and disburse same as provided herein by
check or wire transfer; pay encumbrances in accordance with this agreement; prorate all agreed items; record such escrowed instruments as are
necessary or proper in the issuance of title insurance; and pay the balance of the escrowed funds to the party or parties entitled thereto. The Escrow
Agent shall first apply the Purchase Price on deposit to satisfy any taxes, Deed of Trusts, leasehold interests, special assessments, and other
encumbrances recorded on the Acquisition Parcel, if necessary to provide sufficient title to GRANTEE, as may be authorized by GRANTOR for
payment, and the balance thereof shall be paid to GRANTOR by check or wire transfer in accordance with the terms herein. It is further understood
and agreed that the Title Company shall not be responsible for any liens or encumbrances not of record at the closing of escrow.
The Right of Way Agent for MARICOPA COUNTY Real Estate Department will be furnished a copy of the GRANTOR’s closing statement with
the following certification signed by an authorized officer: “This is to certify this is a true and correct statement of disbursement of funds collected
from MARICOPA COUNTY.”
The Escrow Agent is to request the GRANTOR acknowledge receipt of the amount shown on the closing statement as due GRANTOR. Either a
copy of this request or a copy of a signed receipt is to be retained in the escrow file.
3.
MARICOPA COUNTY will pay the costs of the owner’s title insurance policy; fees associated with lender releases or loan payoffs, including
endorsements, document preparation, and all other expenses related thereto or otherwise resulting from the Deed or TCE; escrow fees and other charges
by escrow companies’ incidental to the closing of escrow. In the alternative, MARICOPA COUNTY may, at its option, waive escrow and/or title
insurance. Upon such waiver, the references to Title Company, Escrow Agent and title insurance herein are not applicable.
4.
If any element of this transaction is not handled through a title company, this Purchase Agreement will be delivered directly to MARICOPA
COUNTY and payment of the Purchase Price will be made direct from the GRANTEE to the GRANTOR after approval and acceptance by the
MARICOPA COUNTY BOARD OF SUPERVISORS and the final filing and recording of the documents.
5.
It is understood and agreed the consideration expressed herein is accepted by the GRANTOR as full and complete compensation for the
interests being acquired. At GRANTEE’s sole cost and expense, GRANTEE shall be responsible for all necessary actions to complete the subdivision
of the Acquisition Parcel from GRANTOR’s remaining parcel to create two (2) separate legal parcels pursuant to and in accordance with all applicable
laws and any requirements from the applicable jurisdictions Title Company. GRANTEE represents and warrants that, as of the closing date of this
Purchase Agreement, following conveyance of the Acquisition Parcel, GRANTOR’s remaining real property will be a legal parcel without the need
for any further actions on the part of GRANTOR or GRANTEE.
6.
The rights granted herein by GRANTOR are without representation or warranty whatsoever, either express or implied, regarding the
suitability of the Acquisition Parcel or Temporary Easement Area for GRANTEE’s intended use and GRANTEE accepts the Acquisition Parcel and
Temporary Easement Area in their “AS-IS” condition in all respects. Grantee’s access to and use of the Temporary Easement Area would be subject
to the requirements set forth in the 2024 MAG Uniform Standard Specifications and Details for Public Works Construction manual, subject however,
to any additional rights and obligations expressly provided in the Purchase Agreement or TCE.
7.
MARICOPA COUNTY agrees to pay, and the GRANTOR agrees to accept the Purchase Price in full for the property interests described
herein:
• Real property consisting of the Acquisition Parcel in the amount of Seventy-One Thousand Two Hundred Fifty-Four and No/100 Dollars
($71,254.00) described and depicted in Exhibit “A-1” and “A-2”.
• Temporary Construction Easement in the amount of Twenty-Five Thousand Nine Hundred Sixteen and No/100 Dollars ($25,916.00)
described and depicted in Exhibit “B-1” and “B-2”.
• Improvements located within the Acquisition Parcel (as described and depicted in Exhibit “A-1” and “A-2”) in the amount of Ten Thousand
One Hundred and No/100 Dollars ($10,100.00) and broken out as follows in Exhibit “C-1”.
• In the event GRANTEE determines that additional construction time within the TCE Area is needed for completion of the Project, GRANTEE
shall be permitted to extend the term of this TCE Term for one (1) additional period of six (6) months (the “TCE Extension Term”) by
notifying the GRANTORS in writing and issuing a payment for the additional consideration in the amount of $1,080.00 for each additional
month or part thereof for the extension.
8.
MARICOPA COUNTY shall be responsible to the extent that damage occurs out of MARICOPA COUNTY's occupation of the GRANTOR's
property caused by MARICOPA COUNTY's negligence, or by the negligent acts or conduct of its agents, employees, or contractors during the term
of MARICOPA COUNTY's temporary occupancy of the property. MARICOPA COUNTY shall indemnify, defend and hold harmless GRANTOR
from and against any loss, cost or liability (including reasonable attorneys fees) to the extent arising out of the negligence or willful misconduct of
MARICOPA COUNTY, or its agents, contractors, employees or invitees in the exercise of its rights under this Purchase Agreement, the Deed or the
TCE. All claims shall be submitted in accordance with the requirements of ARS 12-821.
Page 3 of 13
9.
GRANTEE is self-insured. Prior to commencement of performance. GRANTEE shall provide a certificate of self-insurance covering
GRANTOR, its officers, directors, employees, agents and tenants.
10.
Default. Upon GRANTEE’s default hereunder, GRANTOR may deliver to GRANTEE a written notice of default, stating with specificity
the nature of GRANTEE’s default. If GRANTEE has not cured the default within a reasonable time (but not less than 30 days for a monetary default
and 60 days for a non-monetary default) after receipt notice of default, GRANTOR may terminate this Purchase Agreement and the TCE effective
immediately upon receipt by GRANTEE of GRANTOR’s written notice of termination.
11.
Notices. Except as otherwise provided in this Purchase Agreement, all notices and demands given by either party to the other hereunder or
pursuant to the TCE shall be in writing and shall be hand delivered, or sent by (a) certified U.S Mail, return receipt requested, or (b) nationally
recognized overnight courier for next business day delivery, or (c) electronic mail to the electronic mail address shown below, which notification by
electronic mail shall be accompanied by written notice sent in accordance with one of the other foregoing methods on the day the electronic mail is
sent, or on the following business day. Any notice delivered by electronic mail shall be deemed delivered (i) upon delivery, if delivered on a business
day prior to 5:00 p.m. Eastern time; or (ii) on the next business day, if delivered after 5:00 p.m. Eastern time or on a non-business day. With respect
to notice delivered by electronic mail, a message received indicating that delivery was unsuccessful or that the recipient is out of office shall not be
deemed to be receipt. Any notice sent by overnight courier shall be deemed delivered on the earlier of actual receipt or the business day on which
delivery is first attempted; and a notice sent by certified mail shall be deemed delivered three (3) business days after deposit thereof in the United States
mail, return receipt requested. For purposes of this Paragraph, “business day” shall mean a day other than Saturday, Sunday, or any federal banking
holiday. All such notices shall be addressed as follows:
GRANTOR:
Via email to: notice@bofa.com using the Subject: Property ID (AZ3-128)
With a hard copy to: Bank of America, National Association
100 N. Tryon Street
Mail Code NC1-007-25-50
Charlotte, North Carolina 28255
Property ID: (AZ3-128)
GRANTEE:
Via email to: MCDOTProjects@maricopa.gov
With a hard copy to: MCDOT Maricopa County Department of Transportation
Public Information Office - Projects
2901 West Durango Street
Phoenix, AZ 85009
12.
Except as otherwise provided for by law or this Purchase Agreement, the rights and remedies of the parties hereto shall not be exclusive
and are in addition to any other rights and remedies provided by law or equity.
13.
Any exhibit attached to this Purchase Agreement shall be deemed to be incorporated by reference with the same force and effect as if fully
set forth herein.
14. This Purchase Agreement may be executed in any number of counterparts with the same force and effect as if all signatures were appended
to one document, each of which shall be deemed an original. Execution and delivery of this Purchase Agreement by portable document format (“PDF”)
copy bearing the PDF signature of any party hereto shall constitute a valid and binding execution and delivery of this Purchase Agreement by such
party. Such PDF copies shall constitute enforceable original documents. The parties agree to accept a digital image of this Purchase Agreement and
the Easements, as executed, as true and correct originals and admissible as best evidence for purposes of State law, Federal Rule of Evidence 1002,
and like statutes and regulations.
15. GRANTEE represents and warrants that it is a political subdivision of the State of Arizona duly organized, validly existing under the laws of
the state of its formation, that it has all the requisite power and authority to execute this agreement through the signature(s) below, and to perform its
obligations hereunder. GRANTOR represents and warrants that it is a corporation duly organized under a charter issued by the United States of America,
that it has all the requisite power and authority to execute this Purchase Agreement through the signature(s) below, and to perform its obligations
hereunder.
This Purchase Agreement is subject to cancelation pursuant to A.R.S. § 38-511.
It is further agreed settlement is being made in lieu of condemnation, and therefore not admissible as evidence of value, nor for any other evidentiary
purpose, in conjunction with any judicial or administrative proceeding.
GRANTOR:
Bank of America. National
Association. a national banking association.
who acquired title as Bank of America. N.A .• a
national banking association
August 26, 2024
Date
For information about how Bank of America
protects your privacy. including California
specific rights that may apply. please visit
www.bankofamerica.com/privacy.
Site ID: AZ3- 12 8
RECOMMENDED FOR APPROVAL:
MARICOPA COUNTY DEPARTMENT
OF TRANSPORTATION
Right of Way Supervisor
Date
Approved as to form within the powers and
authority of the Board of Supervisors
Deputy County Attorney
Date
Page 4 of 13
ACCEPTED AND APPROVED:
MARICOPA COUNTY BOARD OF
SUPERVISORS
Chairman of the Board
Arr EST:
Clerk of the Board of Supervisors
Date
9/12/2024
9/13/2024
Wood, Patel & Associates, Inc.
602.335.8500
www.woodpatel.com
Revised July 5, 2023
May 26, 2023 WP#
215248.80
See Exhibit “A-1"
LEGAL DESCRIPTION
Northern Avenue
Portion of APN 142-55-503
D24446
Public Right-of-Way
A portion of Lot 17, Peoria Crossings Amended, recorded in Book 649, page 14, Maricopa County
Records (MCR), lying within Section 33, Township 3 North, Range 1 East, of the Gila and Salt
River Meridian, Maricopa County, Arizona, more particularly described as follows:
COMMENCING at the south quarter corner of said Section 33, a 3-inch Maricopa County
Department of Transportation (MCDOT) brass cap in handhole, from which the southeast corner
of said section, a 3-inch MCDOT brass cap in handhole, bears North 88°40'27" East (basis of
bearing), a distance of 2661.77 feet;
THENCE along the south line of said section, North 88°40'27" East, a distance of 1326.79 feet;
THENCE leaving said south line, North 01°19'33" West, a distance of 65.00 feet, to the southwest
corner of said Lot 17 and the POINT OF BEGINNING;
THENCE along the west line of said Lot 17, North 00°00'00" East, a distance of 42.87 feet;
THENCE leaving said west line, North 77°09'55" East, a distance of 1.90 feet;
THENCE North 89°56'44" East, a distance of 15.52 feet;
THENCE South 00°00'20" East, a distance of 18.80 feet;
THENCE South 45°37'44" East, a distance of 20.00 feet;
THENCE North 88°47'48" East, a distance of 182.66 feet;
THENCE South 86°58'13" East, a distance of 46.65 feet, to the east line of said Lot 17;
THENCE along said east line, South 00°00'00" East, a distance of 5.85 feet, to the southeast
corner of said Lot 17;
Page 5 of 13
Legal Description
Northern Avenue
Portion of APN 142-55-503
D24446
Public Right-of-Way
Revised July 5, 2023
May 26, 2023
WP# 215248.80
See Exhibit “A-1”
THENCE leaving said east line, along the south line of said Lot 17, South 88°40'27" West, a
distance of 260.94 feet, to the POINT OF BEGINNING.
Containing 3,098 square feet or 0.0711 acres, more or less.
Subject to existing right-of-ways and easements.
This parcel description was prepared without the benefit of survey fieldwork and is based on client
provided information. Any monumentation noted in this parcel description is based on said
information.
07-05-23
Page 6 of 13
SOUTH 1/4 CORNER
SECTION 33, T3N, R1E
3" MARICOPA COUNTY
DEPARTMENT OF
TRANSPORTATION
BRASS CAP IN
HANDHOLE
POC
SOUTHEAST CORNER
SECTION 33, T3N, R1E
3" MARICOPA COUNTY
DEPARTMENT OF
TRANSPORTATION
BRASS CAP IN HANDHOLE
(BASIS OF BEARING)
NORTHERN AVENUE
EX 65'
RW
N88°40'27"E 2661.77'
POB
1326.79'
L1
LOT 15
INLAND WESTERN GLENDALE LLC
APN 142-55-523
LOT 2
TARGET CORPORATION
APN 142-55-488
LOT 17
BANK OF AMERICA NA
APN 142-55-503
L2
L3
L4
L5
L6
N88°47'48"E 182.66'
L7
L8
S88°40'27"W 260.94'
PEORIA CROSSINGS AMENDED
BOOK 649, PAGE 14, MCR
PEORIA CROSSINGS 2ND AMENDED
BOOK 692, PAGE 19, MCR
PEORIA CROSSINGS AMENDED
BOOK 649, PAGE 14, MCR
Z:\2021\215248\Survey\Legal\5248-L60R01.dwg
PORTION OF APN 142-55-503
NOT TO SCALE
PAGE 3 OF 4
WP# 215248.80
REVISED 07/05/2023
PUBLIC RIGHT-OF-WAY
NORTHERN AVENUE
EXHIBIT "A"
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EXPIRES 12-31-23
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LINE TABLE
LINE
L1
L2
L3
L4
BEARING
N01°19'33"W
N00°00'00"E
N77°09'55"E
N89°56'44"E
DISTANCE
65.00'
42.87'
1.90'
15.52'
LINE TABLE
LINE
L5
L6
L7
L8
BEARING
S00°00'20"E
S45°37'44"E
S86°58'13"E
S00°00'00"E
DISTANCE
18.80'
20.00'
46.65'
5.85'
W
Z:\2021\215248\Survey\Legal\5248-L60R01.dwg
PORTION OF APN 142-55-503
NOT TO SCALE
PAGE 4 OF 4
WP# 215248.80
REVISED 07/05/2023
PUBLIC RIGHT-OF-WAY
NORTHERN AVENUE
EXHIBIT "A"
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Wood, Patel & Associates, Inc.
602.335.8500
www.woodpatel.com
Revised July 5, 2023
May 26, 2023
WP# 215248.80 See
Exhibit “B-1”
THENCE North 45°37'44" West, a distance of 20.00 feet;
THENCE North 00°00'20" West, a distance of 18.80 feet;
THENCE South 89°56'44" West, a distance of 15.52 feet;
LEGAL DESCRIPTION
Northern Avenue
Portion of APN 142-55-503
D24446 - TCE
Temporary Construction Easement
A portion of Lot 17, Peoria Crossings Amended, recorded in book 649, page 14, Maricopa County
Records (MCR), lying within Section 33, Township 3 North, Range 1 East, of the Gila and Salt
River Meridian, Maricopa County, Arizona, more particularly described as follows:
COMMENCING at the south quarter corner of said Section 33, a 3-inch Maricopa County
Department of Transportation (MCDOT) brass cap in handhole, from which the southeast corner
of said section, a 3-inch MCDOT brass cap in handhole, bears North 88°40'27" East (basis of
bearing), a distance of 2661.77 feet;
THENCE along the south line of said section, North 88°40'27" East, a distance of 1327.78 feet;
THENCE leaving said south line, North 01°19'33" West, a distance of 107.86 feet, to the west line
of said Lot 17 and the POINT OF BEGINNING;
THENCE along said west line, North 00°00'00" East, a distance of 25.64 feet;
THENCE leaving said west line, North 77°09'55" East, a distance of 35.80 feet;
THENCE South 00°20'15" East, a distance of 43.08 feet;
THENCE North 89°51'21" East, a distance of 225.71 feet, to the east line of said Lot 17;
THENCE along said east line, South 00°00'00" East, a distance of 22.07 feet;
THENCE leaving said east line, North 86°58'13" West, a distance of 46.65 feet;
THENCE South 88°47'48" West, a distance of 182.66 feet;
Page 9 of 13
Legal Description
Northern Avenue
Portion of APN 142-55-503
D24446
Temporary Construction Easement
Revised July 5, 2023
May 26, 2023
WP# 215248.80 See
Exhibit “B-1”
THENCE South 77°09'55" West, a distance of 1.90 feet, to the POINT OF BEGINNING.
Containing 6,260 square feet or 0.1437 acres, more or less.
Subject to existing right-of-ways and easements.
This parcel description was prepared without the benefit of survey fieldwork and is based on client
provided information. Any monumentation noted in this parcel description is based on said
information.
07-05-23
Page 10 of 13
SOUTH 1/4 CORNER
SECTION 33, T3N, R1E
3" MARICOPA COUNTY
DEPARTMENT OF
TRANSPORTATION
BRASS CAP IN
HANDHOLE
POC
SOUTHEAST CORNER
SECTION 33, T3N, R1E
3" MARICOPA COUNTY
DEPARTMENT OF
TRANSPORTATION
BRASS CAP IN HANDHOLE
(BASIS OF BEARING)
NORTHERN AVENUE
EX 65'
RW
N88°40'27"E 2661.77'
POB
1327.78'
L1
LOT 15
INLAND WESTERN GLENDALE LLC
APN 142-55-523
LOT 2
TARGET CORPORATION
APN 142-55-488
LOT 17
BANK OF AMERICA NA
APN 142-55-503
S88°47'48"W 182.66'
L5
L6
L7
L8
L9
L10
L2
L3
L4
N89°51'21"E 225.71'
PEORIA CROSSINGS AMENDED
BOOK 649, PAGE 14, MCR
PEORIA CROSSINGS 2ND AMENDED
BOOK 692, PAGE 19, MCR
PEORIA CROSSINGS AMENDED
BOOK 649, PAGE 14, MCR
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PORTION OF APN 142-55-503
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NORTHERN AVENUE
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B-2"
LINE TABLE
LINE
L1
L2
L3
L4
L5
BEARING
N01°19'33"W
N00°00'00"E
N77°09'55"E
S00°20'15"E
S00°00'00"E
DISTANCE
107.86'
25.64'
35.80'
43.08'
22.07'
LINE TABLE
LINE
L6
L7
L8
L9
L10
BEARING
N86°58'13"W
N45°37'44"W
N00°00'20"W
S89°56'44"W
S77°09'55"W
DISTANCE
46.65'
20.00'
18.80'
15.52'
1.90'
Z:\2021\215248\Survey\Legal\5248-L61R01.dwg
PORTION OF APN 142-55-503
NOT TO SCALE
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WP# 215248.80
REVISED 07/05/2023
TEMPORARY CONSTRUCTION EASEMENT
NORTHERN AVENUE
EXHIBIT "A"
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B-2"
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EXHIBIT "C-1"
Improvements
Parcel No. 142-55-503
Item No. D24446 (LA)
Site Improvements:
18 tons of rock/gravel landscaping @ $120.00 per ton = $ 2,250.00
Rock/Gravel Landscaping Delivery Fee = $ 200.00
30 Sq. Ft. of concrete pavers @ $20.00 per Sq Ft. = $ 600.00
225 Sq. Ft. of concrete sidewalk @ $18.00 per Sq Ft. = $ 4,050.00
9 shrubs @ $250.00 per shrub = $ 2,250.00
Drip Irrigation System = $ 500.00
Tree/Shrub Delivery Fee =
$ 250.00
Site Improvements Total = $ 10,100.00