HomeMy WebLinkAboutA015 - Agreement for Public Improvements dated March 13, 2000 AGREEMENT FOR PUBLIC IMPROVEMENTS
Fourth Addition,Dauntless Subdivision,Ames,Iowa
THIS IS AN AGREEMENT made by and between City and Developer upon the following terms
and conditions:
1. DEFINITIONS. When used in this Agreement,unless otherwise required by the context:
1.1. "City"means the City of Ames,Iowa,a municipal corporation existing under the laws of
the State of Iowa and located in Story County,Iowa,with a mailing address of 515 Clark
Avenue,Ames,Iowa 50010.
1.2. "Developer" means Terra Firma,L.P., and Iowa Limited Partnership, Jensen Develop-
ment Corporation,LTD., an Iowa Corporation, and Erben A. Hunziker as trustee of
the Erben A. Hunziker Revocable Trust dated July 28, 1992, all having principal of-
fices located in Story County,Iowa.
1.3. "Agreement"means this instrument as signed by the parties.
1.4. "Subdivision"means Fourth Addition,Dauntless Subdivision,Ames,Iowa.
1.5. "Construction Plans" means the construction drawings and detailed specifications pre-
pared by Kirkham Michael and Associates under date of March 1 D , 2000, and ap-
proved by the City on March 2,197 , 2000,for public improvements to be constructed and
installed within the Subdivision.
1.6. "Development Agreement' under date of August 26, 1997, and filed in the office of the
Recorder of Story County, Iowa, on September 9, 1997, and recorded as Instrument N°
97-09691 establishing the parties' respective responsibilities for installation of certain
public improvements.
2. CIRCUMSTANCES. Pursuant to section 23.304 of the Ames Municipal Code, City requires that
Developer,as the owner of Subdivision,install and construct within Subdivision for the benefit of
City certain public improvements as a condition for approving the final plat of Subdivision.
3. PUBLIC IMPROVEMENTS REQUIRED. Developer shall construct and install within the Subdivision
on their respective lands at their respective expense,.in accordance with the Construction Plans,
the Development Agreement, and the subdivision ordinance of the City, the following public im-
provements:streets,storm sewer systems,and street lights.
4. MORTENSEN ROAD. The parties' responsibilities with respect to Mortensen Road are set out in
the Development Agreement at Article I, Part B,Paragraph 10, which is reaffirmed, to wit: "The
Developer shall pay to the City one-half of the cost of construction of Mortensen Road as con-
structed under a City contract awarded by the City. The Developer shall pay an amount equal to
their share of the project cost for Mortensen Road after the bids have been received, but prior to
the award of contract. The Developer's share shall be maintained by the city in a money market
account at a local bank in Ames, Iowa. Said account shall be in the name of the Developer and
bear the Developer's tax identification number. Any funds in the said account that are in excess of
what is required for payments under said contracts,including accrued interest, shall be payable by
the City to Developer thirty days after acceptance of the work by the City as aforesaid."
5. ELECTRIC. The parties' responsibilities with respect.to Mortensen Road are set out in the Devel-
opment Agreement at Article I,Part A,Paragraph 4,which is reaffirmed,to wit: "The Ames Mu-
nicipal Electric Utility provides electric services to the Site. The City shall install street lights and
the Developer shall pay all the City's costs of said installation. Thereafter, the costs of operation
and maintenance of the street lights shall be paid by the City."
FJF 200003211624 SHARP,JAHN,FEILMEYER&FEILMEYER,plc
Attomeys at Law•Ames,Iowa
PUBLICIMPROVEMENTS CONTRACT—FOURTHADDITION,DAUNTLESS SUBDIVISION Page 2
7. TIME OF COMPLETION. Developer shall complete the construction and installation of all public
improvements specified in the Construction Plans before the expiration of two years from the date
of the approval of the plat.
8. ENGINEERING SERVICES. The City's engineer shall review and approve all construction plans
and specifications for public improvements to be installed under this Agreement and shall inspect
all work performed by Developer under this Agreement.
9. SECURITY FOR COMPLETION. Developer shall deliver to the City prior to the City's approval of
the final plat of the Subdivision a bond, letter of credit, or certified check in favor of the City in
the amount of$ 689,300.00 (the"Security").
10. FAILURE TO COMPLETE. The City may construct said improvements and the utilities in the event
Developer fails to do so and to cover the costs thereof with the Security.
11. RELEASE OF SECURITY. Upon satisfactory completion of said improvements and utilities, in-
cluding the paying of reasonable engineering and inspection fees therefor, Security shall be re-
leased
12. NOTICES. Unless otherwise required by law, any notice or demand required or permitted by the
terms of this Agreement shall be sufficient and deemed complete when expressed in writing and
either(a) personally delivered to the person entitled thereto, or (b) deposited at any office of the
United States Postal Service in the form of certified mail addressed to the last known mailing ad-
dress of the person entitled thereto, or(c) served on the person entitled thereto in the manner of an
original notice under the Iowa Rules of Civil Procedure.
13. INTERPRETATION. Words and phrases used in this agreement shall be construed as in the single or
plural number, and as masculine,feminine or neuter gender, according to the context. This agree-
ment shall be governed exclusively by and construed in accordance with the laws of the State of
Iowa. The paragraph headings in this agreement are for convenience only and in no way define or
limit the scope or intent of any provisions of this agreement. This Agreement may be executed in
any number of counterparts, each of which shall be regarded as an original and all of which shall
constitute but one and the same instrument. This Agreement shall be binding upon and inure to
the benefit of the respective successors and assigns of all parties executing this Agreement.
IN WITNESS WHEREOF the undersigned has executed this instrument on March�,�2000.
TERRA FIRMA,L.P,
BY: EV COCBRANE&ASSOCIATES,INC., General Partner
Everett W. Cochrane,President
IN WITNESS WHEREOF the undersigned has executed this instrument on March J,? ,2000.
JENSEN DEVELOPMENT CORPORATION,LTD.
BY
EfAson D.Jensen,Pre ' ent
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Attomeys at Law-Ames,Iowa
cc °
PUBLICIMPROVEMENTS CONTRACT—FOURTHADDITION,DAUNTLESS SUBDIVISION Page 3
IN WITNESS WHEREOF the undersigned has executed this instrument on March 13 , 2000.
E HUNZHCER as Trustee of e
ERBEN A.HUNZII(ER REVOCABLE TRUST
dated July 28, 1992
—DEVELOPER—
IN WITNESS WHEREOF the undersigned has executed this instrument on March 2000.
CITY OF AMES,IOWA
e
BY
Paul Wiegand,Director of Vblic Works
—CITY—
FJF ✓200003101B39 SHARP,JAHN,FEILMEYER&FEILMEYER,plc
Attorneys at Law•Ames,Iowa