HomeMy WebLinkAboutA003 - Public Improvements Contract PUBLIC IMPROVEMENTS CONTRACT
THIS AGREEMENT made by and between the City of Ames ,
Iowa, hereinafter referred to as "City , " and Dick Coy & Sons ,
a partnership composed of Richard Coy , Ronald Coy and Gregory
Coy, hereinafter referred to as "Developer . "
WHEREAS , Developer is the owner of certain land being
subdivided and platted as Clear Creek Addition II .
WHEREAS , City requires that Developer install and con-
struct at Developer' s expense for the benefit of City certain
public improvements connected with said platting .
NOW, THEREFORE , it is hereby agreed by and between City
and Developer as follows :
1. Developer shall complete , within y months
from the date of this contract , the installation and construc-
tion of the following public improvements serving the afore-
said subdivision, to-wit :
(a) Two (2) street lights . Estimated cost : $1, 000 . 00 .
2 . Developer shall deposit with the City Clerk of the
City of Ames , Iowa, a corporate surety bond or a certified
check in the amount of $1 , 000 . 00 for the benefit of or payable
to the City of Ames , Iowa, conditioned upon the full perform-
ance of this contract by Developer, in which event such cor-
porate surety bond or certified check shall be released or re-
turned to Developer. In the event Developer fails to fully
perform this contract , City may complete installation and con-
struction of all public improvements provided for by the terms
of this contract and recover the cost thereof from the surety
on said bond or from said certified check, or from Developer
directly.
Dated this day of October , 1980 .
CITY OF AMES , IOIJA DICK COY & SONS , a partner-
ship composed of Richard
Coy, Ronald Coy and Gregory
Coy
By t - By
t anag r Ric ard Coy,-Partner