HomeMy WebLinkAboutA003 - Agreement for Public Improvements dated August 17, 2006 Instrument Prepared By and Return to: Deborah S.Krauth, 1416 Buckeye,Ste.200,Ames,IA 50010;515-232-3921
AGREEMENT FOR PUBLIC IMPROVEMENTS
The parties to this Agreement are HUNZIKER LAND DEVELOPMENT COMPANY,
L.L.C., hereinafter referred to as "Developers" and the CITY OF AMES, IOWA, hereinafter
referred to as "City."
WHEREAS,the Developers are in the process of platting real estate to be known as Sunset
Ridge Subdivision Second Addition,Ames, Story County, Iowa; and
WHEREAS, the Developers are required to construct certain improvements and utilities
within the real estate, to wit: paving, public utilities and street lights, all as part of the platting
procedure to the City;
NOW, THEREFORE, in consideration of the premises, it is hereby agreed that the
Developers shall deposit with the City a surety bond,letter of credit or certified check in the amount
of$741,008.00 conditioned upon the completion of the improvements and utilities as required by the
City for said subdivision on or before July 19, 2007.
IT IS FURTHER AGREED that City reserves the right to construct said improvements and
utilities in the event Developers fail to do so herein agreed, and to cover the costs thereof with the
surety bond, letter of credit or 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 therefor,the bond shall
be released and the bondsman exonerated,the letter of credit released or the certified check shall be
returned to Developers, as the case may be.
Dated this l day of P , 2006.
DEVELOPERS
HUNZIKER LAND DEVELOPMENT
COMPANY, L.
By:
VC
unziker, nager
By: 9
Uaitz—
Charles E. Winkleblack, Manager
STATE OF IOWA, STORY COUNTY, ss:
On this / day ofA(1&J , 2006, before me, the undersigned, a Notary
Public in and for the State of I a, personally appeared Dean E. Hunziker and Charles E.
Winkleblack, to me personally known, who being by me duly sworn did say that these persons are
Managers of said limited liability company and that said instrument was signed on behalf of the said
limited liability company by authority of its managers and the said Dean E.Hunziker and Charles E.
Winkleblack acknowledged the execution of said instrument to be the voluntary act and deed of said
limited liability company by it voluntarily executed.
ANY OREKKE -C— JMA XC(&
Ce L m imn Numbw 731273 Notary Pu is in and for the State of Iowa
MY
CITY OF AMES IOWA
By C-
/ncirector
hn Joiner
of Public Works
XAClient_H\Hwuiker_Eutities\IiI iker_Land_Development_Cotnpany_LLC\Sunset_Ridge_Subdivision\,Secoud_AdditionWgrmt--public impmvements.doc