HomeMy WebLinkAboutA006 - Agreement with Lincoln-Bell Investors r � x
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Instrument Prepared By:
Stephen J.Howell,612 Kellogg Ave.,P.O.Box 847,Ames,IA 50010-0847;515-232-1761
AGREEMENT
Whereas Lincoln-Bell Investors, L.L.C., a Delaware limited liability company
("Lincoln-Bell"), is the owner of real property legally described as Lot 1, Hach Subdivision,
Second Addition, Ames, Story County, Iowa("Property");
Whereas, there is located on said real property a Water Detention Pond for the collection
of surface water run-off from surrounding properties; and,
Whereas the City of Ames ("City") has agreed to purchase from Lincoln-Bell, as
Easements, the right to use up to Eight (8) acre feet of storage capacity in the Water Detention
Pond, the right of Surface Water Flow across the Property, the right to a Storm Sewer across the
Property and the right for ingress and egress to exercise their easements.
Now, therefore, the parties agree as follows:
1. The City shall pay to Lincoln-Bell the sum of One Hundred and Fifteen Thousand
Dollars ($115,000.00) for the easements on, over and across the Property.
2. Lincoln-Bell shall prepare to the City's satisfaction and execute a Grant of
Easement conveying easements for storage in the Storm Water Detention Pond, a Surface Water
Flowage easement, a Storm Sewer easement and an ingress and egress easement for use in using
their other easements
3. No grading in the area of the easement shall be allowed unless prior written
approval is granted by the City.
4. No additional storm sewer pipe shall be installed unless prior written approval is
granted by the City.
5. The City shall maintain the shorelines, storm sewer outlets and emergency
spillway for erosion only.
6. The property owner shall not allow trees to grow within the easement area and
shall be responsible for mowing and other landscape maintenance.
Dated this ` day of �1 > , 2003
CITY OF AMES LINCOL - ELL IN STORS, L.L.C.
By- By:
K— Doug e , Member
Its