HomeMy WebLinkAboutA017 - Agreement for Public Improvements dated July 22, 2002 M 107 54
D INST.NO.
STORY COUNTY, IOWA
FILED FOR RECORD
WHEN RECORDED RETURN TO: Aff JUL 2 5 2002 PM �( -
BRIAN J E191 KE
NNYEMASTER LAW FIRM SUSAN L VANDE KAMP,Reeeor0or S"X*--
1416 BUCKEYE SUITE 200 pEC,FEE s 1l.W AUD.FEE_,_,�
AMES IOWA 50010
This document was prepared by R. Michael Hayes,Hubbell Realty Company, 904 Walnut Street,
Suite 900 Des Moines Iowa 50309-3574 (515) 280-2051
SPACE ABOVE THIS LINE FOR RECORDER
AGREEMENT FOR PUBLIC IMPROVEMENTS
The parties to this Agreement, made pursuant to Section 23.304, Ames Municipal
Code, are The Reserve, L.C., hereinafter referred to as "Owners", and the City of Ames,
Iowa, hereinafter referred to as "City".
WHEREAS, the Owners are in the process of platting a subdivision of real estate
to be known as The Reserve, Ames, Story County, Iowa; and
WHEREAS, the Owners are required to construct certain improvements and
utilities within the real estate, to wit: public streets, bike paths and street lights, by no
later than June 30, 2003, and, to pay reasonable engineering and inspection fees
therefore, all as part of the platting procedure of 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 $285,500.00 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 Owners fail 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.
IT IS FURTHER AGREED, that upon satisfactory completion of the said
improvements and utilities, including the paying of reasonable engineering and
inspection fees therefore, 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.
Dated this c2cZ day of , 2002.
THE CITY OF AMES,IOWA THE RESERVE, L.C.,
By: Hubbell Realty Company, Manager
B Y: B VlJ Li
-Paul Wiegand James W. Hubbell III
Director of Public Works President
' Y
^r
_ By:
n
R. Michael Hay
Secretary
STATE OF IOWA )
SS.
COUNTY OF STORY)
On this 2A day of , 2002, before me the undersigned, a Notary Public in and
for the State of Iowa, ersona y appeared Paul Wiegand, to me personally known, who, being by
me duly sworn, did say that he is the Director of Public Works, of The City of Ames, Iowa,
executing the within and foregoing instrument; that the instrument was signed on behalf of said
authority; and said Paul Wiegand, acknowledged the execution of the instrument to be the
voluntary act and deed by him voluntarily executed.
D
IVE WILHOHNSON
147MBY COKWSEXPIRES Notary Public in and for sai tate
-/ - U3
STATE OF IOWA )
SS.
COUNTY OF POLK )
On this&a day of , 2002, before me the undersigned, a Notary Public in and
for the State of Iowa, perY6nallyqppeared James W. Hubbell III and R. Michael Hayes, to me
personally known, who, being by me duly sworn, did say that they are the President and
Secretary, respectively, of Hubbell Realty Company, the Manager of The Reserve, L.C., an Iowa
limited liability company, executing the within and foregoing instrument; that said corporate
Manager and said limited liability company have no seal; that the instrument was signed on
behalf of said corporate Manager by authority of its Board of Directors and on behalf of the
limited liability company by authority of the Members; and said James W. Hubbell III and R.
Michael Hayes, as such officers, acknowledged the execution of the instrument to be the
voluntary act and deed of the corporate Manager and the limited liability company, by each
entity and by them voluntarily executed.
APRIL TUFANO
Commission Number 710207
Notary P blic in and for s d State
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