23-0048 Escrow and Title Services (Maricopa COOP)

This contract is for escrow and title services, including commitments for title insurance, litigation guarantees, condition of title reports, and escrow services. The contract is between the City of Goodyear and Security Title Agency, Inc., with a term of two years and the option to renew for up to four additional years. The contract has a maximum aggregate amount of $450,000. The City of Goodyear is utilizing an existing contract with Maricopa County through a cooperative purchasing agreement. Key aspects of the contract include the provision of escrow and title services, payment terms, and the requirement for the contractor to maintain insurance coverage. • The contract term is from November 16, 2022, to June 30, 2024, with the option to renew. • The maximum aggregate amount is $450,000. • The contractor must provide escrow and title services, including commitments for title insurance and escrow services. • The City of Goodyear will pay the contractor based on the rates set forth in the contract. • The contractor must maintain insurance coverage, including general liability and workers' compensation insurance. • The contract includes provisions for termination, dispute resolution, and changes to the contract terms.