HomeMy WebLinkAboutA011 - Agreement dated December 5, 1995 AGREEMENT
KNOW ALL MEN BY THESE PRESENTS: Y✓
THIS AGREEMENT, made and entered into this J day of
C1EV�i�fl�F� , 1995, between Stone Brooke Partnership, Story County,
Iowa, hereinafter referred to as "Owner" and the City of Ames, Iowa,
hereinafter referred to as "City" ,
WITNESSETH:
WHEREAS, the Owner is in the process of platting real estate
to be known as Stone Brooke Subdivision Fifth Addition, --City of Ames,
Iowa and
WHEREAS, the Owner is required to construct certain
improvements and utilities within the real estate and to pay reasonable
inspection fees therefor, all as part of the platting procedure of the
City;
NOW, THEREFORE, in consideration of the premises, it is hereby
agreed the Owner shall deposit with the City a surety bond, or certified
check, in the amount of $20,500.00 conditional upon the completion of
the improvements and utilities as required by City for said
Subdivision.
IT IS FURTHER AGREED that the City reserves the right to
construct said improvements and utilities in the event the 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 satisfactory completion of the
said improvements and utilities, including the paying of reasonable
-2-
inspection fees therefor, the bond shall be released and the bondsman
exonerated, or the certified check shall be returned to the Owner, as
the case may be.
Dated this day of �1�'P���n , 1995.
STONE BROOKE PARTN SHIP
By' -
Bill Allen, Partner
"OWNER"
CITY OF AMES, IOWA
By:
1
Paul Wiegand
Public Works Director
"CITY"