HomeMy WebLinkAboutA005 - Agreement with Dayton Park Ltd and Earl Rusher dated June 8, 1981 A G R E E M E N T
KNOW ALL MEN BY THESE PRESENTS:
THIS AGREEMENT, made and entered into this day of
May, 1981, between DAYTON PARK LTD. , a limited partnership, and
Earl Rusher, single, of Story County, Iowa, hereinafter referred
to as "Owners" , and the City of Ames, Iowa, hereinafter referred
to as "City" , WITNESSETH:
WHEREAS, Owners are in the process of platting real
estate to be known as First Addition, Dayton Park Subdivision,
Ames, Iowa, and
WHEF.EAS, Owners are required to construct certain
improvements and utilities within the real estate, 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 Owners shall deposit with the City
a surety bond, or a certified check, in the amount of
conditional upon the completion of the improvements and utilities
as required by City for said Subdivision.
It is further agreed that, City reserves the right
to construct said improvements and utilities in the event owners
fail 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 the satisfactory
completion of the said improvements and utilities, including
the paying of a reasonable engineering and inspection fee
therefor, the bond shall be released and the bondsman exonerated,
or the certified check shall be returned to Owners, as the case
may be.
Dated this v' day of bfty, 1981.
DAYTON PARK. LTD. , a limited
partnership
d
vl
HEGLAND. NEWSROUGH. By
fpKs
JOHNSTON, BREWER, L' n A. Hunziker, genetal
& MADDUX Uart_ner
AMES. IOWA
By
De n E. Hunziker, §eneral
partner
_ 2 _
Earl Ru er
"OtRNERS"
CITY OF MIES, IOTIA
By_
John Elwell
City Manager
"CITY"
HEGLAND. NEWSROUGH.
JOHNSTON, BREWER.
& MADDUX
AMES, IOWA