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HomeMy WebLinkAboutA015 - Development Agreement dated October 6, 1998 , recorded October 16, 1998 , Instrument No. 98-14377 INST.NO. A% 1 `� Q STORY F COUNTY, A RECORD FOR R CD City Clerk's Office M o AM OCT 16 1998 74 515 Clark Avenue,P. O.Box 811 Ames,IA 50010 SUBAN L.VAND MP,fl60oldK Phone: 515-239-5105 MDINa FIE p Fax: 515-239-5142 DO NOT WRITE IN THE SPACE ABOVE THIS LINE,RESERVED FOR RECORDER Prepared by: John R.Klaus,City of Ames Legal Department,515 Clark,Ames,Iowa 50010(Phone: 515-239-5146) DEVELOPMENT AGREEMENT EASTGATE SUBDIVISION THIS AGREEMENT, made and entered into effective the 6tb day of October, 1998, by and between the City of Ames, Iowa, (hereinafter called the "City"), and Eastgate Development Inc., its successors and assigns (hereinafter called "Developer"). WITNESSETH THAT : WHEREAS, the Developer holds title to certain land under the jurisdiction of the City described as: Survey description - Eastgate Subdivision, Ames, Story County, Iowa: Part of the southeast quarter of the southeast quarter of Section 36, Township 84 north, Range 24 west of the 5th P.M., Ames, Story County, Iowa, previously described in a warranty deed filed 'in the office of the Recorder of Story County, Iowa, on December 30, 1997, at Inst. No. 97-14065 and more particularly described as follows: commencing at the southeast corner of said Section 36; thence N0011 12' 46" E, 55.00 feet along the east line of the southeast quarter of said Section 36 to the point of beginning; thence continuing N00° 12' 46" E, 1259.29 feet to the northeast corner of the southeast quarter of the southeast quarter of said Section 36; thence N 890 41' 03" W, 1318.28 €eet to the northwest comer of the southeast quarter of the southeast quarter of said Section 36' thence S 000 20' 34" W, 1267.72 feet along the west line of the southeast quarter of the southeast quarter of said Section 36 to the north line of East 13th Street; thence N 890 57' 00" E, 1321.16 feet along said north line to the point of beginning, containing 38.20 acres, which includes 1.16 acres of existing public road right of way. hereinafter called the "site" for which Developer has applied to the City for a plat of subdivision; and, WHEREAS, it is desired that there be an agreement between the Developer and the City with respect to public improvements required by the City as a condition to approval of the subdivision plat pursuant to Section 354.8 of the Code of Iowa; and, WHEREAS, the City recognizes the need to participate in the installation of public improvement in this subdivision, and WHEREAS, this participation is necessary because the public improvements create a benefit for an adjacent property, and NOW THEREFORE, in consideration of the aforesaid, the parties hereto have agreed and do promise and agree as follows: 1. The City of Ames will be responsible for the cost of constructing the sump pump collector line and appurtenances to be located as required in Eastgate Subdivision. 2. The City of Ames will be responsible for the additional material cost for constructing water mains and sanitary sewer mains larger than 8-inches in diameter within Eastgate Subdivision. II. Developer Responsibilities 1. Utilities. Water. Water mains and all services to lots shall comply with a plan approved by the City's Public Works Department. All water mains on the site will be public mains, and they will be located in public streets or utility easements dedicated to the City, and constructed by the Developer at Developer's expense, to meet City specifications. Sanitary Sewer. Appropriately sized mains, as approved by the City's Public Works Department, shall be extended by Developer at Developer's expense through the site to provide sanitary sewer service to each of the buildings in the development. All sanitary sewer service extensions shall be installed to adjacent right-of-way lines prior to the construction of the streets. Storm Water Management. A storm water management plan shall be prepared by Developer for the site, which meets the City's criteria for on-site detention. Footing drain service extensions shall be installed by the Developer at Developer's expense, to adjacent right-of-way lines prior to construction of the street. Electric. There is adequate electric capacity to serve the site, and the electric utility has reviewed the method of serving the site planned by Developer, and has approved that plan. The Developer will be responsible for all costs involved with the relocation of City of Ames Electric distribution and transmission lines within the existing rights-of-way of 13th Street and of Dayton Avenue. 2 ,14377 ( ,I), q 2. Streets: Vehicular and Pedestrian Access a. The Developer shall construct a westbound right turn lane on East 13th Street to facilitate Eastgate Drive, at the time Eastgate Drive is constructed. b. Developer shall reimburse the City for all costs incurred by the City for construction of an eastbound left turn lane on East 13th Street to facilitate Eastgate Drive. Developers shall make that payment of reimbursement, upon certification by the City's engineer that the work is complete and satisfactory, within ten days of receipt of the City's statement of the amount due and payable. The estimated cost of this work is $98,000. C. Developer shall reimburse the City for all costs incurred by the City for widening of East 13th Street from the west line of McCormick Avenue to the east line of Manaus driveway. The estimated cost of this work is $95,000. d. A northbound left turn lane on Dayton Avenue to facilitate Plymouth Drive may be constructed by the City when there is sufficient traffic to warrant that improvement under established standards of traffic engineering. The Developer shall reimburse the City's costs incurred for the said left turn lane on Dayton Avenue. The estimated cost of constructing that improvement at this time is $141,000. Thirty days after the said improvements have been certified complete by the City's engineer and accepted by the City, there shall be a final payment by Developer to the City or the City to Developer to adjust for any difference between the paid estimated costs and the actual cost. e. An additional lane of travel on Dayton Avenue between the north boundary of the above described site and the intersection with East 13th Street may be constructed by the City when there is sufficient traffic to warrant that improvement under'established standards of traffic engineering. The Developer shall reimburse the City's costs incurred for the said additional lane of travel on Dayton Avenue. The estimated cost of constructing that improvement at this time is $143,400. The City shall not proceed with the aforesaid improvements until after the Developer shall have provided to the City as security for the payment of the reimbursement due to the City as aforesaid, an irrevocable letter of credit payable at a bank within fifty miles of the City of Ames in substantially the 3 � g�14377 C� form attached as Exhibit A for an initial amount of $477,400. The amount of the letter of credit provided to the City may be reduced as the reimbursement due for completed improvements is paid by Developer to the City. 3. This agreement shall be a covenant with the above described land binding subsequent purchasers of the same, and shall be recorded, but shall not be an obligation with respect to lots for which a city building permit has been issued, except for the obligation to maintain and renew the letter of credit as specified in paragraph 2 above. 4. All work done by Developer shall be in accord with the Final Plat and Chapter 23 of the Ames Municipal Code, and other applicable local, state and federal laws and regulations. S. The Developer shall pay a watermain tapping fee of $10.00 per front foot where the subdivision abuts on 13th Street and on Dayton Road. The water connection fee shall be due and payable by Developer to the City at the time of the sale of the first platted lot in the subdivision. 6. There shall be no direct access to any lots from East 13th Street, Dayton Avenue, Eastgate Drive, or Plymouth Drive, and Developers shall execute instruments granting access control rights to the City with respect to all lots that abut on said streets as part of the final plat process. 7. There shall be no on-street parking. 8. Sidewalks shall be constructed on both sides of the streets within the subdivision. 9. An 8-foot wide bike path shall be constructed on the north side of East 13th Street and on the west side of Dayton Avenue, at the Developer's sole expense. 10. It shall be noted on the plat that"soil borings are required in areas within the site, which have been identified by the City as having soils that make the construction of buildings difficult". 4 q ---14377 4 IN WITNESS WHEREOF, the parties hereto have caused this agreement to be executed as of the date first above written. CITY OF AMES EASTGATE DEVELOPMENT, INC. B t—L� By: . u� T- � - — Phca t'/'J y. Ted Tedesco, Mayor Attest'~ •x;r ! : y: - ��ia Rip-erger, ity Cl..rk COUNTY ss: On"tfi`is`Yday of a 19gu before me, a Notary Public in and`for the State of Iowa, personally appeared Ted Tedesco and Jill Ripperger, to me personally known, and, who, being by me duly swom, 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 contain in esolution No. 9'.- 5"/0 adopted by the City Council on the /7' day of D and that Ted Tedesco and Jill Ripperger, acknowledged the execution of the instrument to be their,yoluntary act and deed and the voluntary act and deed of the corporation, by it voluntarily executed. Notary Public in and for Story County, Iowa `d� KAREN C.THOMPSON MY CUM SSLU ,FY%PIRES STATE OF I-owe, , COUNTY OF Pry IK SS: © On this 4+1 day of c-to6lC- 199 0 before me, a Notary Public in and for Pa�K County, xc►J L , personally appeared S -coc. T a�.5 , to me personally known, who being by me duly swom,did say that that person is ,—es c,Ga of said corporation, that the seal affixed to said instrument is the seal of said corporation, or no seal has been procured by the said corporation, and that said instrument was si ed and sealed on behalf of said corporation by authority of its board of directors and the said Pre s:c SIT acknowledged the execution of said instrument to be the voluntary act and deed of said corporation by it voluntarily executed. / Notary Public in and for owl, �3 �a/K County, �Oly,4 law\Eastgate.515 rev.7/24/98 k- D AS r0 r,J:-t:•< John _14�377 �P City Attorney xU p,�