HomeMy WebLinkAboutA004 - Agreement for Public Improvements dated August 21, 2001 Instrument Prepared By:
Deborah S. Krauth, 1416 Buckeye, Ste. 200, Ames, IA 50010; 515-232-3921
AGREEMENT FOR PUBLIC IMPROVEMENTS
The parties to this Agreement are H&F BUILDERS PARTNERSHIP,L.L. C.,hereinafter
referred to as "Owner," and the CITY OF AMES, IOWA, hereinafter referred to as "City."
WHEREAS,the Owners are in the process of platting real estate to be known as Bentwood
Subdivision Fifth Addition, Ames, Story County, Iowa; and
WHEREAS,the Owners are required to construct certain improvements and utilities within
the real estate, to wit: curb and gutter, street construction and street lights, and to pay reasonable
engineering and inspection fees therefor, all as part of the platting procedure to the City.
NOW, THEREFORE, in consideration of the premises, it is hereby agreed that the Owners
shall deposit with the City a surety bond, letter of credit or certified check in the amount of
$52,775.00 conditioned upon the completion of the improvements and utilities as required by the
City for said subdivision on or before August 1, 2002.
IT IS FURTHER AGREED that City reserves the right to construct said improvements and
utilities in the event Owners fail to do so herein agreed,and to cover the costs thereof with the surety
bond , letter of credit or 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 engineering and inspection fees therefor,the bond shall
be released and the bondsman exonerated,the letter of credit released or the certified check shall be
returned to Owners, as the case may be.
ry �.1 .
Dated this 7-1 day of �' — , 2001.
OWNERS
H & F 4LI1,LDERS PA TNERSH L.L.C.
By:
Gary J. n�i anager
By: ZA11111
G�
Donald M. Furman, Manager
CITY OF AMES, IOWA
By: <qa'k Q
Paul Wiegand
Director of Public Works
P\DSKrauth\I3entwood\Fifth Addition\agmm--public improvements.doc
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