HomeMy WebLinkAboutA006 - Public Improvements Contract dated September 16, 1980 PUBLIC IMPROVEMENTS CONTRACT
THIS AGREEMENT made by and between the City of Ames ,
Iowa, hereinafter referred to as "City, " and Ev Cochrane &
Associates , Inc. , hereinafter referred to as "Developer. "
WHEREAS , Developer is the owner of certain land being
subdivided and platted as Oakwood Second Addition to the
City of Ames , Iowa.
WHEREAS , City requires that Developer install and con-
struct at Developer' s expense for the benefit of City cer-
tain public improvements connected with said platting.
NOW, THEREFORE, it is hereby agreed by and between City
and Developer as follows :
1. Developer shall complete, within twelve months from
the date of this contract , the installation and construction
of the following public improvements serving the aforesaid
subdivision to-wit : Street lights at an estimated cost of
$3 , 000. 00 .
2 . Developer shall deposit with the City Clerk of the
City of Ames , Iowa, a corporate surety bond or a certified
check in the amount of $3 , 000. 00 for the benefit of or pay-
able to the City of Ames , Iowa, conditioned upon the full
performance of this contract by Developer, in which event
such corporate surety bond or certified check shall be re-
leased or returned to Developer. In the event Developer
fails to fully perform this contract , City may complete in-
stallation and construction of all public improvements pro-
vided for by the terms of this contract and recover the cost
thereof from the surety on said bond or from said certified
check, or from Developer directly.
Dated this 16th day of September 1980.
CITY OF PaMES , IOWA ! EV COCHRANE & ASSOCIATES, INC .
B` , '-rig-- � v,-- �L�C B
G: ty Manag rt'' Everett W. Cochrane,
- President
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1 .