HomeMy WebLinkAboutA010 - Agreement for Public Improvements dated December 15, 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 PINNACLE PROPERTIES ANTES, L.L.C.,hereinafter
referred to as "Developer" 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 The
Estates-of Nature's Crossing Subdivision,Ames, Story County, Iowa; and
WHEREAS, the Developers are required to construct certain improvements and utilities
within the real estate,to wit: utilities,paving 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$378,414.00 conditioned upon the completion of the improvements and utilities as required by the
City for said subdivision on or before December 15, 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 1S day of 't) El— , 2006.
DEVELOPER
PINNACLE PROPERTIES A L.L.C.
By
Keith D. Arneson, Manager
STATE OF IOWA, STORY COUNTY, ss:
On this_��' day of , 2006, before me, the undersigned, a Notary
Public in and for the State of Iowa,personally appeared Keith D.Arneson,to me personally known,
who being by me duly sworn did say that he is Manager 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 Keith D. Arneson acknowledged the execution of said instrument to be the
voluntary act and deed of said limited liability company b it vol tartly executed.
F\Ac s DEBORAH S. KRAUTH
ZP COMMISSION NO. 129704 No ary Public in and for the State of Iowa
* � MY CO lSSI N EXP ES
OWA r
CITY OF A ,IOWA
By C
J n Joiner
irector of Pub is Works
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