HomeMy WebLinkAboutA005 - Public Improvements Contract dated May 18, 1977 PUBLIC IMPROVEMENTS CONTRACT
THIS AGREEMENT made by and between the City of Ames, Iowa,
hereinafter referred to as "City, " and Marjo, Inc. , an Iowa corporation,
hereinafter referred to as "Developer. "
WHEREAS, Developer is the owner of certain land being platted as
The Union Addition, 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 The Union Addition, Ames,
Iowa, to-wit:
Improvements Estimated Cost
Streets $ 71, 300. 00
Sanitary Sewer 34, 800. 00
Storm Sewer 46, 900. 00
Water Main 19, 200. 00
Street Lights 4, 300. 00
Street Signs 100. 00
Sidewalks 14, 000. 00
Total ------------- 190, 600. 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 returned to Developer. In the event Developer fails to fully perform this
contract, City may complete installation and construction of all public im-
provements provided for by the terms of this contract and recover the cost
thereof from the surety on said bond or from said certified check.
Dated this 18th day of May, 1977.
CITY OF AMES, IOWA MARJO, INC.
By r By,
Terry V. VrenkellCity Manager Everett W. Cochrane, President