HomeMy WebLinkAboutA007 - Agreement dated June 24, 1980 .Y
A G R E E M E N T
KNOW ALL MEN BY THESE PRESENTS :
THIS AGREEMENT, made and entered into this �"l� day of
June, 1980, between Jim Cornwell, Inc. , Robert W. Shirk and
James E. Cornwell, 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 West Court Terrace Addition to Ames , Iowa, a Replat
of Blocks "C" and "F" , including alleys and vacated streets in
Foster' s Addition to New Philadelphia, now included in and forming
a part of the City of Ames, Iowa, and
WHEREAS, Owners are required to construct sidewalks
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 $4 , 500. 00 conditional-
upon the completion of the said improvements as required by City
for said Subdivision, within two (2) years from the date of
acceptance of the Final Plat by the City.
It is further agreed that City reserves the right to
construct said improvements 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 the said improvements, including the paying of a reasonable
engineering and inspection fee therefor, the bond shall be released
HEGLAND, NEWBROUGH
JOHNSTON, BREWER
& MADDUX
AMES. IOWA
At
2 -
and the bondsman exonerated, or the certified check shall be
returned to Owners, as the case may be.
Dated this day of June, 1980 .
JIM (tOTWELL, 17IN�
By
J ""es E. Cornwell J/ s E. Cornwell, President
Robert W. Shirk J nice L. Cornwell, Secretary
CZTY�OF AMES , I OTTA.14
J"'ohn Elwell, City Manager
HEGLAND, NEWBROUGH
JOHNSTON, BREWER
& MADDUX
AMES, 10WA