HomeMy WebLinkAboutA005 - Agreement dated June 24, 1986 AGREEMENT
THIS AGREEMENT, made and entered into this 24th day of
June , 198'6, between Erben A. Hunziker and Donald M.
Furman, all 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 Patio Homes West Second Addition to Ames,
Iowa, and
WHEREAS, 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 $ 28,250.00 ,
conditional upon the completion of the improvements and utilities
as required by the 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 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 24th day of June
Er en A. Hunzike"r i Donald �M. Furman
"OWNERS"
CITY OF AMES, IOWA
1EGLAND. NEWBROUGH,
JOHNSTON, BREWER
& MADDUX By
AMES. IOWA Steve Shainker
City Manager