HomeMy WebLinkAboutA008 - Agreement with William C. Knapp Revocable Trust i
AGREEMENT
KNOW ALL MEN BY THESE PRESENTS:
THIS AGREEMENT, made and entered into this 2/S*r day of
NOvE.+IAZZ , 1995, between William C. Knapp, Trustee of the William
C. Knapp Revocable Trust, Polk County, Iowa, hereinafter referred to as
"Owner" and the City of Ames, Iowa, hereinafter referred to as "City",
WITNESSETH:
WHEREAS, the Owner is in the process of platting real estate
to be known as Bloomington Heights Plat 5, City of Ames, Iowa and
WHEREAS, the Owner is required to construct certain
improvements and utilities within the real estate and to pay reasonable
inspection fees therefor, all as part of the platting procedure of the
City;
NOW, THEREFORE, in consideration of the premises, it is hereby
agreed the Owner shall deposit with the City a surety bond, or certified
check, in the amount of $690,921.70 conditional upon the completion of
the improvements and utilities as required by City for said
Subdivision.
IT IS FURTHER AGREED that the City reserves the right to
construct said improvements and utilities in the event the Owner fails
to do so as herein agreed, and to cover the costs thereof with the
surety bond or the certified check, as the case may be.
IT IS FURTHER AGREED that upon satisfactory completion of the
said improvements and utilities, including the paying of reasonable
-2-
inspection fees therefor, the bond shall be released and the bondsman
exonerated, or the certified check shall be returned to the Owner, as
the case may be.
Dated this -a= day of ors ��,
' , 1995.
WILLIAM C. KNAPP REVOCABLE TRUST
By:
William C. Knapp, Tr e
"OWNER"
CITY OF AMES, IOWA
Paul Wiegand
Public Works Director
"CITY"