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HomeMy WebLinkAboutA018 - Covenant for Easements Platting and Improvements dated October 19, 1993 L DAYTON PARK SUBDIVISION COVENANT FOR EASEMENTS PLATTING, AND IMPROVEMENTS This COVENANT AGREEMENT, made and entered into effective the 19th day of October , 1993 by, between and among Dayton Park Ltd. , a limited partnership, Erben A. Hunziker, Dean E. Hunziker, their spouses, heirs, lienholders, mortgagees, successors and assigns, (hereinafter called "Own- ers/Developers") ; and, the City of Ames, Iowa, (hereinafter called "City") , WITNESSETH THAT WHEREAS, the Owners/Developers have, with others, applied to the City for approval of the final plat of a subdivision to be called First Addition, Dayton Park Subdivision, Ames, Iowa; and, WHEREAS, the said plat is only a portion of a larger tract for which the Owners/Developers obtained City approval of a conceptual development plan under Ames City ordinances for subdivision plat approval ; and, WHEREAS, as a condition for approval of said plat the City requires certain easements and public improvements with respect to the said larger tract; and, WHEREAS, the parties hereto desire to make a contract for said easements and improvements to run with the land forming said larger tract; NOW, THEREFORE, the parties hereto have agreed and do agree as follows: 1. With respect to a tract of land described as: "That part of the south 1/2 of the southwest fractional 1/4 of Section 7, Township 83 North, Range 83 west, lying west of Interstate 35, EXCEPT the west 580' and south 280' thereof." the Owners/Developers promise, as inducement for approval of the said subdivision plat, that it shall grant the City such permanent easements for streets, parking, drainage, electric transmission, water mains, sanitary sewers, and storm sewers as the City may reasonably deem neces- sary, said grant of easements to be made at such time as when the Own- ers/Developers cause the platting as required by paragraph 2 below. 2. With respect to the tract described in paragraph 1, the Own- ers/Developers promise, as inducement for approval of the aforesaid subdivision plat, that it shall , 180 days from the date of this agree- ment, take the steps necessary to cause the official platting of that land; and, at such time as when Owners/Developers apply for a building permit or commence construction of improvements on said land, they shall construct to City standards and specification a paved portion of Ford Street and of Southeast 16th Street as such streets are shown on the conceptual development plan approved by City Council Resolution No. 78-411 on October 17, 1978, or as said proposed streets locations may be changed by written agreement of the parties, along with such water mains, sewer mains, sidewalks, parkings and other public improvements as 561 ..� 57 w the City reasonably deems necessary, said construction to commence not later than 30 days after grant of the easements called for under para- graph 1 hereof, and completed to the standards of the city within 120 days thereafter. 3. Furthermore, in anticipation and inducement of the possibility that the City may at some time deem it to be in the public interest to cause construction of the aforesaid public improvements by means of city awarded contracts to be paid in whole by special assessments to be levied against the below listed properties of the Owners/Developers, it being understood and agreed that the costs of such a project may be financed by the issuance and sale of bonds of the city, payment of the principal and interest thereon, and all costs of issuance, interim borrowing, legal fees, engineering, or whatever to be included in and fully abated by the aforesaid assessment, and as an inducement for the city to do so, the Owners/Developers covenant and agree that, by execu- tion of this instrument, they and each of them: a. Waives notice to property owners by publication and mailing as provided by Section 384.50 of the Iowa Code. b. Waives the right to a hearing on the making of the improvement, the boundaries of the special assessment district, the costs of the project, the assessment against any lot or the final adoption of the resolution of necessity as provided for in Section 384.51 of the Iowa Code. C. Consents to the adoption of a preliminary resolution, a plat, schedule of assessments and costs estimate, and resolution of necessity by the city for the project. d. Waives any objections to the project, the boundaries of the dis- trict, the costs of the project, the valuation of any lot, the assessment against any lot, or the final adoption of the resolution of necessity. e. Agrees that the amount and proportion of the costs of the construc- tion or repair of the above-described improvement to be paid by the property owners, as ascertained and determined by the Council of the City, spread over a period of ten years at lawful and usual interest, shall constitute assessments against the properties stated below and that said assessments shall be paid by the under- signed Owners/Developers within the time provided by law for the payment of special assessments for such improvement. f. Waives the limitation provided in Section 384.62 of the Iowa Code that an assessment may not exceed twenty-five (25) percent of the value of his lot as defined in Section 384.37(5) of the Iowa Code. g. Waives notice to property owners by publication and mailing as provided by Section 384.60 of the Iowa Code (relating to notice of certification to County Auditor of final schedule of assessments) . 561 . 58 2 600K___� PML h. Warrants that the real estate described below is free and clear of all liens and encumbrances other than for ordinary taxes, except for such liens as are held by the Lienholders hereinafter listed and designated as signatories of this Agreement. i . Agrees to subordinate the sale or mortgaging of any part of the property listed below to the terms of this Agreement. j . Agrees that if the project of this agreement, or the assessment, is declared in whole or in part invalid or beyond the City's authori- ty, the Owners/Developers shall nevertheless pay the assessed amounts. k. Lienholders, present and future, shall be junior and inferior to the lien of any assessments levied pursuant to their covenant and agreement. 1 . Waives the right to request deferment for agricultural land. all with respect to and encumbering that land described in paragraph 1 above. 4. This covenant and agreement shall be filed for record in the Office of the Story County Recorder and all covenants, agreements, promises and representations herein stated shall be deemed to be covenants running with the land and shall endure and be binding on the parties hereto, their successors and assigns, for a period of twenty-one (21) years from the date of the recording of these covenants, unless claims to continue any interest in the covenants are filed as provided by law. The City shall have the right to file a claim to continue its interest in these covenants. 5. Invalidation of any of these covenants by judgment or court order shall in no way affect any of the other provisions, but shall remain in full force and effect. Lienholders Owners/Developers By: 4- ,t ay�tr Park Ltd. , artne ; By: �'� ^✓lam c ff-t�ervA. Hunziker By: D an E. Hunziker CITY OF AMES IOWA Attest: By: By: La-Kry . C rti s, Mayor andra L. Ryas- City 1 erkNo APPROVED AS TO F RM John R. laus City Attornev 5611 a 59 STATE OF IOWA SS: COUNTY OF STORY On this 15th day of October, 1993, before me, the undersigned, a Notary Public in and for the State of Iowa, personally appeared Erben A. Hunziker, to me personally known, who being by me duly sworn, did say that he is a partner of Dayton Park Ltd. , a partnership, and that the instrument was signed on behalf of the partnership by authority of the partner and the partner acknowledged the execution of the instrument to be the voluntary act and deed of the partnership by it and by the partner voluntarily executed. MJOWN R.KLAUS No y Publ i c i n and for MY COMMISSION EXPIRES Story County, Iowa s-S'- STATE OF IOWA SS: COUNTY OF STORY On this 15th day of October, 1993, before me, a Notary Public in and for Story County, personally appeared Erben A. Hunziker, to me known to be the person named in and who executed the foregoing instrument, and acknowledged that he executed the same as his voluntary act and deed. J s; JOWN R.KLAUS A MY COMMISSION EXPIRES Notar ubl i c in 'and for` 1a . _ �.. _ Story County, Iowa STATE OF IOWA ss: COUNTY OF STORY On this 15th day of October, 1993, before me, a Notary Public in and for Story County, personally appeared Dean E. Hunziker, to me known to be the person named in and who executed the foregoing instrument, and acknowledged that he executed the same as his voluntary act and deed. JOHN R.KLAUS ��. MY COMMISSION EXPIRES Notay9 Public' ib and for Story County, Iowa 4 561 . 60 PAGE_------.- f STATE OF IOWA ss: COUNTY OF STORY On this Qr�-' day of October, 1993, before me, a Notary Public in and for the State of Iowa, personally appeared Larry R. Curtis and Sandra L. Ryan, to me personally known, and, who, being by me duly sworn, did say that they are the Mayor and City Clerk, respectively, of the City of Ames, Iowa; that the seal affixed to the foregoing instrument is the corporate seal of the corporation, and that the instrument was signed and sealed on behalf of the corporation, by authority of its City Council , as contained in Resolution No.11 313adopted by the City Council on the I� day of C)Ciob"_� , 19 and that Larry R. Curtis and Sandra L. Ryan acknowledged the execution of the instrument to be their voluntary act and deed and the volgnta%,act and deed of the corporation, by it voluntarily executed. Notary Public in an t- Story Coun , Iowa' r �.• k L / iPPff2 0;"'Py G 3 t t LAW/Daytonpk.006 5 561 XOK�_______PAS.