HomeMy WebLinkAboutA010 - Agreement for Public Improvements Document prepared
by: D. Nelson 666 Walnut St., Suite 2500 Des Moines, IA 50309 515-288-2500
AGREEMENT FOR PUBLIC IMPROVEMENTS
THIS AGREEMENT, made and entered into this 25-rf day of October, 1999, between
William C. Knapp, Trustee of the William C. Knapp Revocable Trust, hereinafter referred to as
"Owner" and the City of Ames, Iowa, hereinafter referred to as "City".
WITNESSETH:
WHEREAS, Owner is in the process of platting real estate to be known as Bloomington
Heights Plat 8, City of Ames, Iowa,; and,
WHEREAS, Owner is required to construct certain improvements and utilities wi said real
estate, to-wit: asphalt ($17,660.00) and street lights ($12,000.00) by not later than I2 31 2ocb, and
to pay reasonable engineering and inspection fees therefor, all as part of the platting procedure of the
City.
NOW, THEREFORE, in consideration of the premises, it is hereby agreed that the Owner
shall deposit with the City a surety bond or certified check in the amount of $29,660.00, conditional
upon the completion of the improvements and utilities as required by the City for said Subdivision.
IT IS FURTHER AGREED that the City reserves the right to construct said improvements
and utilities in the event 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 said improvements and
utilities, including the paying of a reasonable engineering and inspection fees therefor, the bond shall
be released by the City and the bondsman exonerated, or the certified check shall be returned to the
Owner, as the case may be.
k:\ddn\1999\10\ddn29118.99
WILLIAM C. KNAPP REVOCABLE TRUST,
OWNER
By:
illiam C�Kn e
CITY OF AMES, IOWA
By: <a4 a. Lj
Paul D. Wiegand,(J�ublic Works Director