HomeMy WebLinkAboutA003 - Agreement RE Grading of Streets, Installation of Sanitary Sewer and Other Utilities or Improvements dated November 21, 1967 A.
AGREEMENT RE GRADING OF STREETS, INSTALLATION OF
SANITARY SEWER AND OTHER UTILITIES OR IMPROVEMENTS.
THIS AGREEMENT made this 21st day of November , 1967,
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 Northeast corner of the Southeast Quarter
(SE 4) of the Northwest Quarter (NW I-) of Section 34, Town-
ship 84 North, Range 24 West of the 5th P. M. , Story County,
Iowa; thence West along the North line of said Southeast Quar-
ter ,of Northwest Quarter of Section 34, .1192. 6 feet; thence
South 270 26' East, along the East right of way line of the
Chicago and Northwestern Railroad, 188. 3 feet to the point
of beginning; thence North 780 151' East, 345. 4 feet; thence
South 50 26' East, 60. 0 feet; thence South 270 26' East,
705. 0 feet; thence South 620 34' West, 120. 0 feet; thence
North 270 26' West, 96. 9 feet; thence South 890 12' West,
67. 12 feet; thence South 620 34' West, 130. 0 feet; thence
North 270 26' West, along the East right of way line of the
Chicago and Northwestern Railroad, 727. 0 feet to the point of
b e ginning,
WHEREAS the parties of the second part are in the process of
platting said real estate, as Allenview Fourth 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 $ 9, 730. 00
Street signs --
Sidewalks Streetlights --
Sanitary sewers completed
Storm sewers completed
Water Main completed
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 $ 9, 730. 00 ;
NOW, THEREFORE, IT IS AGREED BY AND BETWEEN THE
PARTIES AS FOLLOWS:
HIRSCHBURG.REYNOLDS.
GILCHRIST.NUTTY&
SMITH
ATTORNEYS AT LAW
300YZ MAIN STREET
AMES.IOWA
Page Two.
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 $ 9, 730. 00 , conditioned on the satisfactory com-
pletion of said incomplete improvements.
2. That said cashier's check or surety bond of $ 9. 730. 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 $ 9, 730. 00 shall be released, surrendered an
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 re-
cover 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.
CIT O S,
BY
J. R. -ASTMER, City Manager,
Party of the First Part
PHIL COY & SONS
By
Partner
JA' K COY
RICH `RI) COY
iffCIIARD K. BLISS
HIRSCHBURG.REYNOLDS.
GILCHRIST.NUTTY&
SMITH
ATTORNEYS AT LAW
3CO/2 MAIN STREET
AMES.IOWA