HomeMy WebLinkAboutA009 - Amendment for Installation of Required Public Improvements AGREEMENT FOR INSTALLATION OF
REQUIRED PUBLIC IMPROVEMENTS
I ,
THIS AGREEMENT is made this day of L (`-r rilti -J"- - 199 by and
between the City of Ames, Iowa, party of the first part, and Hunziker Development Co.,
L.C., party of the second part, WITNESSETH:
WHEREAS, the party of the second part is the developer of the real estate
described as follows, to-wit-
Hillside Subdivision, Fourth Addition, being an Official re-plat of Outlot "Z" in
Hillside Subdivision Third Addition, an Official Plat, Ames, Story County,
Iowa, and
WHEREAS, the party of the second part is in the process of platting said real
estate described as Fourth Addition, Hillside Subdivision, in Ames, Iowa, and the plat of
the same together with all supporting instruments, having been submitted to the City
Council of the City of Ames for approval, and
WHEREAS, the party of the second part has not completed the following
operations as described and set forth in the plat of the Fourth Addition, Hillside
Subdivision, in Ames, Iowa-
Street Surface $34,500.00
Sidewalks $15,000.00
Street Lights $ 5,000.00
TOTAL $54,500.00
and it is desired by the parties hereto to make provisions therefore, and
WHEREAS, the party of the second part shall assume the responsibility for making
said improvements, and
WHEREAS, it has been estimated that the cost of completing said improvements
will not exceed the sum of$54,500.00
2
NOW, THEREFORE, IT IS AGREED BY AND BETWEEN THE PARTIES AS
FOLLOWS:
1. That the party of the second part has executed a Letter of Credit for the
street surface, the sidewalks and the street lights in the amount of $54,500.00 to
complete the above described improvements pursuant to said Agreement.
2. That upon the completion of all of the said improvements to the
satisfaction of the party of the first part, said Letter of Credit for $54,500.00 shall
be released.
3. That all of said improvements shall be completed by the party of the
second party within twelve (12) months of the date of this Agreement. In the event
of the failure of the party of the second part to complete all of the said work as
herein agreed, the party of the first part may perform said work and recover the
cost thereof.
IN WITNESS WHEREOF, this Agreement is signed the day and year first written above
by the Public Works Director on behalf of the City of Ames, Iowa, and by the party of the
second part.
CITY OF AM S, IOWA
By
HUNZIKER DEVELOPMENT CO., L.C.
By �-A
Dean E. Hunziker, P sident
1 .
By �t�f
Gary S-IunN , Secretary
J As TO FUHM
John R. Klaus
City Attornev