HomeMy WebLinkAboutA009 - Agreement for Installation of Required Public Improvements dated December 9, 1986 IIAGREEMENT FOR INSTALLATION OF REQUIRED PUBLIC IMPROVEMENTS
THIS AGREEMENT is made this 9th day of December , 1986,
by and between the City of Ames, Iowa, party of the first part , and Frank
Schill and Sons,, Inc*., party of the second part, WITNESSETH:
I WHEREAS, the party of the second part is the developer of the real
estate described as follows, to-wit
SEE.MHEDULE "A" ATTACHED HERETO AND MADE A PART HEREOF
CONTAINIW, 'THE CORRECT LEGAL DEMRIPTION, and
WHEREAS, the party of the second part is in the process of platting
said real estate described as Country Gables Seventh Addition to Ames, Iowa,
"and the plat of the same together with all supporting instruments, having been
submitted to the City Council of the City. of Ames for approval, and
i WHEREAS, the party of the second part has not completed the following
i
operations as described and set forth in the plat of the Country Gables Seventh
Addition to Ames, Iowa:
Street Lights $ 3,200.00
Street Signs 200.00-
Finish' Lift ,of Asphalt Street 6,949.00
Total $10,349.00
and it is desired- by the parties hereto to make provisions,therefore, and
WHEREAS, the party of the second part shall assume the responsibility
f or making said improvements, and
WHEREAS, it has been estimated that the cost of completing said
improvements. will not- exceed the sum of $10,349.00.
I NOW, THEREFORE, IT IS AGREED by and between the parties as follows:
i
1. That the party of the second part has executed a bond
agreeing to. complete the above described improvements
pursuant to said bond agreement.
li . . 2. That said bond agreement is attached hereto and made a
it part Hereof..
-3 . That upon the completion of all of the said
L improvements to the sati.sf action of the party. of the f i"rst
j� part, said bond shall be released , surrendered and I
i exonerated. i
4. That all of said improvements shall be completed by the
it party of the second part within twelve (12) months of the
date of this agreement. In the event of the failure of the
party of .the second part to complete all of the said work
as herein agreed, the party of the first part may perform
said work and recover the cost thereof .
j' I
-2-
IN WITNESS. WHEREOF, this agreement is signed the day and year f irst
written above 'by the City Manager on behalf of the City of Ames, Iowa, and by
the party of the second'part.
f CITY OF AMES, IOWA
C
By:
ii City Manager - Steven L. boiainFer
FRANK 9ZHILL AND SONS, IIC .
By.
Frank .A Schi.11 - P7,c
'dent
By: tic, _2
Jan E. Schill - Secretary
. li