HomeMy WebLinkAboutA012 - Covenant for Assessment of Costs of Improvements dated May 22, 2001 (Lot1) 01 - 06539
RETURN T0: INST.NO.
STORY COUNTY,IOWA,
FILED FOR RECORD
AMES CITY CLERK
Bog 811 o MAY 2 9 2001 Phi
AMES IOWA 50010
(ENV) SUSAN L.VANDE KAMP,Recorders
REC.FEE$31.BAUD.FEE$
DO NOT WRITE IN THE SPACE ABOVE THIS LINE,RESERVED FOR RECORDER
Prepared by: John R.Klaus,City of Ames Legal Department,515 Clark,Ames,Iowa 50010(Phone: 515-239-5146)
LOT 1 IN GRAND ASPEN SUBDIVISION
COVENANT FOR ASSESSMENT OF
COSTS OF IMPROVEMENTS
THIS COVENANT AND AGREEMENT is made effective theZrl day of 2001,
by and between Scott E.Randall,his mortgagees,lienholders,heirs,successors and assigns(-hereinafter
called"Developer"), and the CITY OF AMES,IOWA, (hereinafter called"City"),
WITNESSETH THAT :
The parties hereto have agreed and do agree as follows:
1. This agreement is made for the purpose of meeting the subdivision regulations and plat
approval requirements of the City with respect to Lot 1 in Grand Aspen Subdivision.
2. In anticipation of the possibility that the City may at some time deem it to be in the
public interest to cause construction of certain public improvements specified on Exhibit A attached
hereto,the costs thereof to be paid by a special assessment to be levied against Lot 1 in Grand Aspen
Subdivision,Developer does hereby covenant and agree that by execution of this instrument Developer,
its successors and assigns,including purchasers of Lot 1 in Grand Aspen Subdivision,and each of them,
shall pay and are bound to pay to the City the total costs of the aforesaid improvements as stated on
Exhibit A and assessed to Lot 1 in"Grand Aspen Subdivision, Ames, Iowa,by action of the governing
body of the City. Additionally,Developer,its successors and assigns,including purchasers of Lot 1 in
Grand Aspen Subdivision, and each of them,with respect to the said assessment:
A. Waive notice to property owners by publication and mailing as provided by
Section 384.50 Code of Iowa.
B. Waive the right to a hearing on the making of the improvement,the boundaries
of the special assessment district, the costs of the project, the assessments against any lot or the final
adoption of the resolution of necessity as provided for in Section 384.51 Code of Iowa.
C. Consent to the adoption of a preliminary resolution, a plat, schedule of
assessments, and costs estimate, and resolution of necessity by the City for the project.
D. Waive any objections to the project, the boundaries of the district,the costs of
the project,the valuation of any lot,the assessment against any lot,or the final adoption of the resolution
of necessity.
E. Agree that the amount and proportion of the costs of the construction or repair
of the above-described improvement,including engineering,inspection,and financing costs,to be paid
by the property owners,as ascertained and determined by the Council of the City,upon the completion
and acceptance of the work,spread over a period of twelve(12)years then determined by the said City
Council,at lawful and usual interest,shall constitute assessments against the aforesaid property,and that
said assessments shall be paid by the undersigned Developer, its successors and assigns, including
purchasers of Lot 1 within Grand Aspen Subdivision,within the time provided by law for the payment
of special assessments for such improvement.
F. Waive the limitation provided in Section-384.62 -Code of Iowa, that an
assessment may not exceed twenty-five (25) percent of the value of his lot as defined in Section
384.37(5) Code of Iowa.
G. Waive notice to property owners by publication and mailing as provided by
Section 384.60 Code of Iowa(relating to notice of certification of County Auditor of final schedule of
assessments).
H. The Developer warrants that the aforesaid real estate is free and clear of all liens
and encumbrances,except for such liens as are held by the mortgagees and lienholders hereinafter listed
and designated as signatories of this Agreement.
I. The Developer agrees to subordinate any sale or mortgaging subsequent to the
date hereof of any part of the property listed below to the terms of this Agreement.
J. Agree that if the project of this Agreement, or the assessment, is declared in
whole or in part invalid or beyond the City's authority, that Developer, its successors and assigns,
including purchasers of Lot 1 within Grand Aspen Subdivision shall nevertheless pay the assessed
amounts.
K. Lienb.olders_and Mortgagees who become.such subsequent to the date hereof,
shall be junior and inferior to the lien of any assessments levied pursuant to this covenant and
agreement,but current lienholders and mortgagees agree that if by foreclosure of thier lien or mortgage
they acquire title to the land assessed as aforesaid,they shall be bound to pay said assessment;and,that
this agreement shall remain in full force and effect after such foreclosure of lien or mortgage.
L. Waive the right to request deferment for agricultural land.
The foregoing provisions encumber the land that is platted as Lot 1, Grand Aspen Subdivision,Ames,
Iowa,as described and shown on the plat attached hereto as Exhibit B and by this reference made a part
hereof.
2
3. The Developer,its successors,and assigns,including purchasers of lots,may at any time
procure a release from the assessment obligations of this covenant and agreement with respect to the said
Grand Aspen Subdivision by paying to the City that amount that is the unpaid balance of the amount
assessed plus the interest then accrued.
4. This covenant and agreement shall be filed for record in the office of the Story County
Recorder and all covenants,agreements,promises and representations herein stated shall be deemed to
be covenants running with the land and shall endure and be binding on the parties hereto, their
mortgagees, lienholders, heirs, successors and assigns, for a period of twenty-one (21)years from the
date of the recording of these covenants,unless claims to continue any interest in the covenants are filed
as provided by law. The City shall have the right to file a claim to continue its interest in these
covenants.
5. Invalidation.of any of these co tenants-by judgment or court order shall in no way affect
any of the other provisions,which shall remain in full force and effect.
Executed by the respective signatories on the date set above their respective signatures.
Dated at Ames, Story County, Iowa, Dated at Qmes, Story County, Iowa,
this /5 day of �'1 , 2001. this as day of M , 2001.
SCOTT E.RANDALL CITY OF AMES OWA
By: ( By: `
Scott E. Randall Ted Tedesco, Mayor u .:
By:
Diane R. Voss, Cty101erk � ��^y
�}�7 4,,•ll�rr�r,fir 1 '�' i •
be�'Mr-
> �y� i,
STATE OF IOWA,STORY COUNTY ss: STATE OFr�IIO�W.1,STORY COUNTY ss:
On this k .day of_� __,2001,before me,a On?hir e day of ,2001,before me,a Notary
Notary Public in and for Story County, personally appeared Public in and for the State of Iowa, personally appeared Ted
Scott E.Randall,to me known to be the person named in and who Tedesco and Diane R.Voss,to me personally known,and,who,
executed the foregoing instrument, and acknowledged that he being by me duly sworn,did say that they are the Mayor and City
executed the same as his voluntary act and deed. Clerk, respectively, of the City of Ames, Iowa; that the seal
affixed to the foregoing instrument is the corporate seal of the
corporation, and that the instrument was signed and sealed on
behalf of the corporation, by authority of its City Council, as
otary Publlcrk and for Story County,Iowa contained in Resolutiqn No. 0 b—o�ot� adopted th Cf1clity
Council on the`l�:P day of M� ��,and
that Ted Tedesco and Diane R.Voss acknowledged the execution
WNPATTI BOON of the instrument to be their voluntary act and deed and the
M COMMISSION EXPIRES
_ voluntary act a dt _dEed_of the M9Ag1f1pRj), 't voluntarily
executed. o�arw�a� KAREN C.THOMPSON )
T��w MY CO MISS(ON'EXPIRES
o� / a3 -
Notary Public in and for Story County,rowa
3
01 - 06539
MORTGAGE SUBORDINATION
The mortgage to the First National Bank dated January 22, 1999 and filed January 22,
1999, as Instrument No n--the office of the Story County Recorder, is hereby
subordinated to the foregoing Lot 1 in Grand Aspen Subdivision Covenant for Assessment of
Costs of Improvements.
FIRST NATIONAL BANK,AMES,IOWA
By:
Thomas Pohlman, President
STATE OF IOWA,COUNTY OF STORY,ss:
On this 15 day of�'� ,2001,
before me, a Notary Public in and for Story County, Iowa,
personally appeared Thomas Pohlman, to me personally known,
who being by me duly sworn,did say that that person is President
of said corporation,that the seal affixed to said instrument is the
seal of said corporation,or no seal has been procured by the said
corporation, and that said instrument was signed and sealed on
behalf of said corporation by authority of its board of directors
and the said Thomas Pohlman acknowledged the execution of
said instrument to be the voluntary act and deed of said
corporation by it voluntarily executed.
Notary Public in airdfor Story County,Iowa
e.C,0 % O �D
(� Jl
tr Y> Grand Aspen�Siibdrv�sron-Covenant-for Assessment-051001
F
reu 051401,E
4
01 - 06539
J i
EXHIBIT A
The public improvements that may be constructed, with costs thereof assessed to Lot 1 in Grand
Aspen Subdivision, are:
Improvement Estimated Cost
South 16th Street Widening $28 500.00
Bicycle Path 7,200.00
Bus Stop Pad 1,000.00
Costs of engineering and administrative expense pertaining to the-above improvements may also be
assessed to Lot 1 in Grand Aspen Subdivision.
The amounts stated above are estimates only. The actual costs assessed may be more or less than
the stated estimates.
Grand Aspen Covenant for Assessment,Exhibit A-051101
rev.051401
01 - 06539 ��
FINAL PLAT
�'k 7-011 GRAND ASPEN SUBDIVISION
in the Southeast Quarter of the
Southeast Quarter of
Section 10-83-24.
City of Ames. Iowa
is c
Z. 15 h-
z
0 1.
rn
MIN
.4 ;q., .
U—
co >
a 17 2,R;---.-inr-r-.0-6 �--r c---------------------- 61 WIN.,.,;I.-
------------------- 0Ill N
9Q
U)
N.,
Z
Ic {II W
ch ryi
le -I I
Z
0 d c,
—— 77----—————————————
IIJ
Rb W
2z V.
X...11
ai
SUBDIVISION BOUNDARY 4t*
LOT LINE
SECTION LINE STPEET CENTERLINE
RIGHT OF WAY LINE
1—T11 21: v,
GUIL ING SETBACK LINE . ... .......4,
EASE HT LINE
0 SECTION CORNEA
IRON PIN OR PIPE FOUND 0 REBAR W1 YELLOW CAP#6586 SET 0
O
co
LO
co
CD