HomeMy WebLinkAboutA012 - Agreement for Installation of Required Public Improvements dated May 10, 1988 (/ II
` AGREBENr FOR INSTALLATION OF REQUIRED PUBLIC IMPROUSIEM
THIS AGREMENT is made this loth day of May 1988 ,
1by and between ,the City of Agnes, Iowa, party of the first part; and Stone
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Brooke Partnership, party of the second part, WI7NESSM:
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WHEREAS, the party of the second part is the developer of the real
estate described as follows, , to-rwit:
SEE SCHEDULE "A" ATTACHED HERETO AND MADE A PART HEREOF
I OONTAINING THE CQRREC'r LBSAL DESCRIPTION, and
WHEREAS, the part of the second part is in the process of platting
said real estate described as Second Addition, Stone Brooke Subdivision, in the
City of 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 the Second Addition,
Stone Brooke Subdivision, in the City of Ames, Iowa:
Streets $35,000.00
Street Lights 2,700.00
Walkways 7,000.00
Total $44,700.00
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 $44,700.00, and
WHEREAS, Second Addition, Stone Brooke Subdivision, in the City of
lames, Iowa, does not include the proposed storm water detention basin ;
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therefore, it will be necessary to construct a silt basin, at the outlet of the
storm sewer to serve as an interim measure until the next addition to Stone
„Brooke Subdivision is developed and the storm water detention basin is built.
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NQffl, THEREFORE, IT Is AGREED BY AND BEZWEEN THE PARTIES AS FOLLOWS:
1 . That the party of the second part has executed a bond
agreeing to complete the above described improvements
pursuant to said bond agreement.
2 . That said bond agreement is attached hereto and made a
�I part hereof.
3 . That upon the completion of all of . the said
Ij improvements to the satisfaction of the party of the first
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party, said bond shall be released, surrendered and
i; exonerated.
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4. That all of said improvements with the exception of the
I( walkways, shall be completed by the party of the second
part within twelve (12 ) months of the date of this
agreement. 'Ihe walkways shall be completed within twenty-
four (24) months of the date of this agreement . In the
event of the failure of the part of the second part to
j complete all of the said work as herein agreed, the party
of the first part may perform said work and recover the
cost thereof.
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5. 'Ihat the party of the first part agrees to maintain the
silt basin constructed at the outlet of the storm sewer and
that the party of the second part agrees to reimburse the
party of the first part on an annual basis for their
expense in maintaining said basin.
IN WITNESS WHEREDF, this agreement is signed the day and year first
written above by the City Manager on behalf of the City of Ames, Iowa, and by
the party of the second part.
CI'IY OF AMES IOWA`-
Mayor.
SIONE HIOOIE PARINMSHIP
By
Z,
E nziker - General Partner .
By ��-
Frank W. Allen General Partner
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SCHEDULE A
DESCRIPTION '
Second Addition
Stone Brooke Subdivision,
In The City .Of. Ames, Iowa'
A part of the East—half (EJ) of the Northwest --Quarter (NWJ)
of Section 27 — T84N — R24W of the 5th P.M. , in the: Cit;v of Ames ,
Story County, Iowa; described as follows : .
"Commencing at the Southeast (S..E. ) corner of -,the "o.rthwest- .
Quarter (NWJ) of Section 27 — T84N — R24W of the 5th P.M. , in' the
City of Ames , Story County, Iowa; thence N 00° 24' 20" E, 660.00
feet along the east line of the NWJ of said Section 27, to the
Point of Beginning; thence c.ontinuing N 00° 24" 2011 'E, 602.35
feet along the east line of the NWJ ; thence S 880 .14' 01 " W,
150. 12 feet; thence S W - 30! 34" W, - 69.63 feet; thence
N 740 39 ' 03" W, 120. 11: feet; thence N 79° 513 ' 17" W, .303 . 29
feet ; (the following calls are along the northeasterly lines. of
the First Addition of Stone Brooke Subdivision) thence
S 130 111. 40" E, . 318,83 feet; thence S "11 ° 20 ' 44" E, 60. 03 feet;
thence S 150 22 ' 10" E, 121 . 17 feet; thence N 74° 37' 5011 E,
120. 00 feet; thence S 160 34' 24" E, 212.70 feet; thence
N 89° 04' 00" E, 330.00 feet along a line parallel with the south. .
line of the NWJ , .to the Point of Beginning. "
Subdivision contains : 306, 697 square feet, or 7,. 041�8 Acres.
The call of N 000 24' 20" E in this description is. intended
to match the calls of .North — South in the descriptions
of record for the exception in the Ei—NWf.
This Second Addition is NOT located entirely .within the
South 1320 feet of .the Ej-NWJ-Section 27-84-24.