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3 y~ 1; _ <br />UNCO~TIONAL GUARANTEE FROM BA~ <br />OR <br />FEDERALLY INSURED SAVINGS ~ LOAN ASSOCIATION <br />OR <br />• OTHER FINANCTAL INSTITUTION APPROVED BY <br />THE CTTY OF LA PORTS <br />DATE: May 8, 1979 <br />The City of La Porte <br />Harris County, Texas <br />Gentlemen:. <br />Southmore Savings Association hereby agrees and promises to <br />pay to the CITY OF LA PORTS, TEXAS, on demand, the sum of <br />Two Hundred Forty Thousand, Six Hundred Ninety-Seven $ No/100 <br />Dollars ($240,697.00)., which sum is to be applied toward the <br />installation and/or completion of the following mentioned site <br />• improvements in GLEN MEADOWS, SECTION TWO, for which full and <br />final completion the developer T.M.C. FUNDING and MAGNOLIA <br />INVESTMENT PROPERTIES, their heirs and assigns, shall be .. <br />responsible under Code of Ordinances number 705, as ammended, <br />of the Code of Ordinances of the City, of La Porte, such <br />improvements being specifically described and scheduled as <br />follows: <br />Glen Meadows, Section Two, Paving, Drainage and <br />Utilities to be completed in accordance with .the <br />Specifications, Rules and Regulations for the <br />City of La Porte. <br />Very txuly yours, <br />SOUTHMORE SAVINGS ASSOCIATION <br />• <br />Wanda Gibson - Vice President <br />