HomeMy WebLinkAboutA027 - Agreement for Public Improvements INST.NO. '0 2
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Prepared by: Larry R. Curtis, 323 Sixth Street P.O. Box 664 Ames IA 50010 (515)232-4732
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AGREEMENT FOR PUBLIC IMPROVEMENTS
The parties to this Agreement, made pursuant to Section 23.304, Ames Municipal Code, Z
are TERRA FIRMA, L. P., as "Owner", and the CITY OF AMES, IOWA, hereinafter referred to as
"City".
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WHEREAS, the Owner is in the process of platting a subdivision of real estate to be known Hz
as South Fork Subdivision, First Addition, Ames, Story County, Iowa; and
WHEREAS,the Owner is required to construct certain improvements and utilities within the
real estate, to-wit: underground utilities and street paving, by not later than February 1, 2003, and
to pay reasonable engineering and inspection fees therefor, all as part of the platting procedure of
the City.
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NOW, THEREFORE, in consideration of the premises, it is hereby agreed that the Owner H
Coshall deposit with the City a surety bond, letter of credit or certified check in the amount of
5q�1000, `$ "0 conditioned upon the completion of the said improvements and utilities, by the said �
date, as required by the City for said subdivision, in accordance with plans and specifications on
file with the City's engineers and by this reference made a part of this agreement.
IT IS FURTHER AGREED that City reserves the right to construct said improvements and
utilities in the event Owner fails to do so as herein agreed, and to cover the costs thereof with the
surety bond, letter of credit or the certified check, as the case may be.
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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 checkshall
be returned to Owner, as the case may be. iJ
TERRA FIRMA, L. P. CITY OF AMES, IOWAxme, ka �
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By BY
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Vice President Paul Wiegand
Ev Cochrane & Associates, Inc., Director of Public WorK
General Partner < Y6