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HomeMy WebLinkAboutA004 - Agreement RE Grading of Streets, Installation of Sanitary Sewer and Other Utilities or Improvements date March 30, 1966 f AGREEMENT RE GRADING OF STREETS, INSTALLATION CF SANITARY SEWER AND OTHER UTILITIES OR IMPROVEMENTS. THIS AGREEMENT made this day of /Az �, 19 6 6 by and between the City of Ames, Iowa, party of the first part, and Phil Coy and Sons, a partnership composed of Jack Coy and Richard Coy; Jack Coy, Richard Coy and Richard K. Bliss, parties of the second part; WITNESSETH : That WHEREAS the parties of the second part are the owners of the real estate described as follows, to-wit: Commencing at the Southeast (SE) corner of the Southwest Quarter (SW 1/4) of the Northeast Quarter (NE 1/4) of Section 34, Township 84 North, Range 24 West of the 5th P. M. , Story County, Iowa; thence North 00 10' East 572. 9 feet to the point of beginning; thence South 890 12' West 290. 0 Feet; thence North 00 10' East 302. 8 feet; thence South 890 30' West 240. 0 feet; thence North 00 10' East, 1200. 0 feet; thence South 890 30' West 25. 0 feet; thence North 0 1,0' East 175. 0 feet; thence North 890 30' East 255. 0 feet; thence North 00 10' East 150. 2 feet to the centerline of 24th Street in Ames, Iowa;thence North 890 31' East 300. 0 feet along the ,centerline of said 24th Street; thence South 00 10' West 746. 5 feet to the point of beginning. WHEREAS the parties of the second part are in the process of plattin said real estate, as Allenview Third Addition to 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, WHEREAS the parties of the second part have not completed the following operations: Streets $ 17, 388. 00 Street signs 50. 00 Sidewalks 419 640. 00 Street lights 1, 062. 00 Sanitary sewers None Storm sewers None Water Main None and it is desired by the parties hereto to make provisions therefor and, WHEREAS, second parties shall assume the responsibility for the making of said improvements; and, WHEREAS, it has been estimated that the cost of completing said improvements will not exceed the sum of$ 23, 140. 00 ; NOW, THEREFORE, IT IS AGREED BY AND BETWEEN THE PARTIES AS FOLLOWS: IIRSCHBURG, REYNOLDS GILCHRIST&NUTTY ATTORNEYS AT LAW 300 MAIN STREET AMES, IOWA e J j Page 2. 1. That the parties of the second part shall deposit with the City Clerk of the City of Ames, Iowa, a certified check or surety bond in the penal sum of $ 23, 140. 00 , conditioned on the satisfactory completion of said incomplete improvements. 2. That said cashier's check or surety bond of $ 23$.140, 00 shall remain so deposited until the parties of the second part shall have completed all of the improvements above mentioned to the satisfaction of the party of the first part:. 3. That upon the completion of all of the said improvements to the satisfaction of the party of the first part said surety bond or cashier's check in the amount of $ 23, 1400 00 shall be released, surrendered and exonerated. 4. That all of said improvements, except sidewalk, shall be com- pleted by the parties of the second part within 12 months of the date of this agreement, and said sidewalk shall be completed by parties of the second part ,within 24 months of the date of this agreement. In the event of the failure of the parties of the second part to complete all of the said work as herein agreed, the party of the first part may perform said work and recover the cost thereof from the certified check or from the sureties on said bond posted pursuant hereto. IN WITNESS WHEREOF, this agreement is signed the day and year first above written by the City Manager on behalf of the City of Ames, Iowa, and by the parties of the second part. CITY OF A S, I A Y CASTN R, City Manager, i� Party of the First Part PHIL COY & SONS BY Partner JA K COY I r � �-- RICHAR COY , ;'r -C L--�--p RICHARD K. BLISS HIRSCHSURG, REYNOLDS GILCHRIST&NUTTY ATTORNEYS AT LAW 300 MAIN STREET AMES, IOWA