HomeMy WebLinkAboutA002 - Agreement with Iowa State University Research Foundation dated November 22, 1978 A G R E E M E N T
KNOW ALL MEN BY THESE PRESENTS :
This Agreement made and entered into this 5t, day
of November, 1978 , between the Iowa State University Research
Foundation, Inc. , an Iowa corporation, hereinafter referred to
as "Owner" , and the City of Ames , Iowa, hereinafter referred to
as "City" , WITNESSETH:
WHEREAS , Owner is in the process of platting real
estate to be known as Gateway Hills , Ames , Story County, Iowa,
and
WHEREAS , Owner is required to construct certain im-
provements 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 Owner 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 Owner
fails 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 com-
pletion 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 Owner , as the case may be.
Dated this a?,� "J' day of November , 1978 .
IOWA STATE UNIVERSITY CITY OF AMES , WA
RESEARCH FOUNDATION, INC . ,7
i
' -' BY �44_
am q7i E. H „' Pres dJ nt Terry Sp enkel ,
CityManager
By / z:'
D- nie1� Gri. n� 'Jr. , Secretary
OWNER CITY
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