HomeMy WebLinkAboutA013 - Agreement for Installation of Required Public Improvements dated May 24, 1994 06/26/04 08:18 0616 232 4388
PAYER LAW FIRM 434 H AND F 1J001
1;•
AGREEMENT FOR INSTALLATION OF
REQUIRED PUBLIC IMPROVEMENTS
THIS AGREEMENT is made this 2A- day of 1994 r
by and between the :City of Wipes, Iowa, Rarty of the first part, and
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?3 & F Builders p.artnership Ian Iowa General Partnerships party of
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the second part, WITNESSETH:
wEFREAS, the party of the second part is the developer of the
real estate described as follows, to-wit: 1
SEE. SCHEDULE "A" ATTACHED 'HERETO AND MADE A PART HEREOF
CONTAINING THE CORRECT LEGAL DESCRIPTION, and
WREREAS, the party of the second part is in the process of
platting said real estate described as Twenty First Addition,
Parkview Heights Subdivision, in the City of .Ames, Iowa, and the
plat of the same ,together with all supporting instruments, having
been submitted to the City Council of the City of Ames for
approval, and Of
WHEREAS, the party of the second past has not completed the
following operations as described and set forth in the plat of the
Twenty First Addition, Parkview Heights sub*vision, in the City Of
Ames, Iowa:
Street Construction $190,000.00
Street Lights $ 21.536.00
TOTAL $211,536.00
and it is desired by the parties hereto to make provisions
therefore, and
WHEREAS, the partly of the second part shall assume the
responsibility for making said improvements, and
WHEREAS, it has been estimated that the cost of completing
said improvements -will not exceed the rum of $211,536.00_
Post V brand fax transmittal memo 70 �of pages► ,
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R-92Y� 515 232 4488 05-25-94 08: 19AM P001 #17
05/25/94 08:19 0515 232 4388 PAYER LAW FIRM -*44 H AND F 1@ 002
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NOW, THEREFORE, IT IS AGREED By AND BETWEEN THE PARTIES AS
FOLLOWS:
1. That the party of the second part has executed a
Letter of 'Credit for the street construction and the street
lights in the amount of $211,536.00 to complete the above
described improvements pursuant to said Agreement.
2. That upon the completion of all of the said
improvements to the satisfaction of the party of the first
part, said Letter of Credit for $211 r 536.00 shall be released.
3. That all Of said improvements shall be completed by
the party of the second partly within twelve (12) months of the
date of this Agreement. In the event of the failure of the
party of the second part to complete all of the said work as
herein agreedr the party of the first part may perform said
work and recover the cost thereof.
IN WITNESS wHEREOF, this Agreement is signed the day and year first
written above by the Public Works Director on behalf of the City of
Ames, Yowa, and by the party of the second part.
CITY OF AMES, IOWA
By o —
H & F Build rs Partnership
By
Erben A. Hunziker, Partu
onald M. , Partner
R=96%
515 232 4388 05-25-94 08: 19AM P002 #17