HomeMy WebLinkAboutA005 - Public Improvements Contract dated December 2, 1976 PUBLIC IMPROVEMENTS CONTRACT
THIS AGREEMENT made by and between the City of Ames, Iowa,
hereinafter referred to as "City, " and H. L. Munn Lumber Company, an
Iowa corporation, hereinafter referred to as "Developer. "
WHEREAS, Developer is the owner of certain land being platted as
Sunset Rock First Addition to the City of Ames, Iowa; and,
WHEREAS, City requires that Developer install and construct at
Developer's expense for the benefit of City certain 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 twenty-four months from the
date of this contract, the installation and construction of the following pub-
lic improvements serving the land platted as Sunset Rock First Addition to
the City of Ames, Iowa, to-wit:
Improvements Estimated Cost
Streets $20, 00 0
Street Lights 1, 600. 00
Street Signs 100. 00
Sidewalks 5,000. 00
Total --------------------- $2 , 700. 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 the fore-
going estimated costs for the benefit of or payable 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 released or re -_
tur:n-e d to Developer. In the event Developer fails to fully perform this con-
tract, City may complete installation and construction of all public improve-
ments provided for by the terms of this contract and recover the cost there-
of from the surety on said bond or from said certified check.
Dated this 2nd day of December, 1976.
CITY OF AMES, IO)WA H. L. MUNN LUMBER COMPANY
ICI,'
By '� By 6
Terry V. Sp nkel, City Manager Alfred-,H. Munn, President