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Home My WebLink AboutA038 - Supplemental Agreement for Shared-Use Path dated April 27, 2010 .1*4 Instrument:2010- 00003917 H Date:flaa 0492010 10:55:49A D i Rec Fee: 20-00 E-Com Fee: 3.00 Aud Fee: .01) Trans Tax: ,00 Rec Management Fee: 1.00 Non-Standard Page Fee: .►0 Filed for record in Stara County► Iowa Susan L. Vande iiampr County Recorder DO NOT WRITE IN THE SPACE ABOVE THIS LINE,RESERVED FOR RECORDER Prepared by:Douglas R Marek,City of Ames Legal Department;515 Clark,Ames,Iowa 50010(Phone: 515-239-5146) RETURId_:rT0::=_ A]NES CITY CLERK — BOX 811 — AMES IOWA 50010 A SUPPLEMENTAL AGREEMENT PERTAINING TO ESTATES AT NATURE'S CROSSING SUBDIVISION AND CONSTRUCTION OF A SHARED USE PATH CONNECTING CHRISTOPHER GARTNER PARK AND AMES MIDDLE SCHOOL THIS AGREEMENT,made and entered into this 5�1 day of April,2010,by and between the CITY OF AMES,IOWA(hereinafter called"City"),and PINNACLE PROPERTIES AMES,L.L.C., and its successors and assigns(hereinafter called"Developer"), WITNESSETH THAT: WHEREAS,the parties hereto previously entered into anAgreement dated December 15,2006, providing for construction ofbike paths and sidewalks as partofthe subdivision platting and development of Estates at Nature's Crossing Subdivision;and, WHEREAS, pursuant to that previous Agreement and conditions of plat approval by City, Developer is responsible for the costs associated with the construction of a shared use path along the north side of College Creek within Estates at Nature's Crossing;and, WHEREAS,the City Council,by resolution on February 9,2010,approved an alternate shared use path alignment from Christopher Gartner Park through Estates ofNature's Crossing Subdivision and South Fork Subdivision and connecting to the Ames Middle School; and, WHEREAS, the City has determined that it is now appropriate and necessary to complete construction of said shared use path with financial assistance from the City in the amount of fourteen thousand dollars($14,000.00); and, WHEREAS, the Developer has opted to pay cash in advance for the balance of the cost of construction,without special assessment; and, WHEREAS,the Developer and the City now desire to specify the manner of payment by the Developer to the City for construction costs so that the Project may proceed in a timely fashion. Page 1 of 4 NOW,THEREFORE,the parties hereto have agreed and do agree as follows: I PURPOSE A. It is the purpose of this Agreement to document, record, and give notice of a certain method of payment by the Developer to the City for the construction of-the shared use path from Gartner Park to Ames Middle School Project("Project"),including Engineering Administration and Construction Inspection fees as provided in the Ames Municipal Code,and to provide for the security of said payment pending completion of the construction. B. This Agreement does not create or vest in any person or organization,other than the City, any rights or cause of action with respect to any performance, obligation,plan,schedule,or undertaking stated in this Agreement,with respect to the Developer. This Agreement does not prevent the City from amending,modifying, or releasing the Developer from some or all of the provisions of this Agreement. No person shall have any cause of action or recourse against the City or Developer by reason of any such amendment,modification,or release. H LOCATION OF ALTERNATE SHARED USE PATH ALIGNMENT The parties agree that the Agreement dated December 15,2006,providing for construction ofbike paths and sidewalks as part of the subdivision platting and development of Estates at Nature's Crossing Subdivision and the City Council resolution of February 9,2010,approving an alternate shared use path alignment from Christopher Gartner Park through Estates of Nature's Crossing Subdivision and South Fork Subdivision and connecting to the Ames Middle School shallbe construed to meanthatthe Developer and the City shall mutually agree to the location of the easement within Lot T, South Fork Subdivision. HI METHOD OF PAYMENT A. Developer shallprovide to the CitybyApril 23,2010,cash or an irrevocable letter of credit or payment bond, in a form acceptable to the City Attorney, in an amount of not less than sixty-four thousand five hundred dollars($64,500.00). B. The City shall make payments to the contractor in accordance with the terms of the construction contract and shall draw down on the cash or letter of credit for payments for work performed under the Project. The City shall provide copies of all invoices and payments for the Project to the Developer at the time that payment is made to the construction contractor for construction work or to the City for Engineering Administration and Construction Inspection fees. C. If,during the progress of construction,change orders are approved that increase the total costs in excess of the amounts secured by cash, letter of credit, or payment bond, the Developer shall immediately provide to the City additional cash,supplemental or replacement letter of credit,or payment bond,to secure the remaining total amount of the contract plus estimated Engineering and Construction Inspection fees. Page 2 of 4 D. Upon final completion,payment,and project closeout ofthe Project,the City shall provide a final project accounting for the Project,including Engineering Administration and Construction Inspection fees, and shall release to the Developer any remaining letter of credit,payment bond,or cash. If,upon completion,payment, and project closeout of the Project,the remaining cash,letter of credit, or payment bond is insufficient to cover outstanding amounts owed by the Developer to the City under the terms of this Agreement,said amounts shall constitute a debt and the Developer immediately shall make full payment in cash for such debt. IV CITY'S REMEDIES Upon the Developer's failure to comply with the terms ofthis Agreement,the City may terminate construction of the Project and pursue debt collection or any other remedies available. V COVENANT WITH THE LAND Jim 4 t This Agreement shall run with the Site and shall be binding uponthe Developer,its successors and�� 4 assigns. h - r r IN WITNESS WHEREOF, the parties hereto have caused this instrumett ta, b, executedi c effective as of the date first above written. 4 X x CITY OF AMES,IOWA By c Attest Ann H. Campbell,Mayor Diane R.Voss, City Clerk' STATE OF IOWA, STORY COUNTY ss: On this�iL day of &�A4 ,20�64 ,before me,a Notary Public in and for the State of Iowa,personally appeared Ann H.Campbell and Diane R.Voss,to me personally known,and,who,being by me duly sworn, did say that they are the Mayor and City Clerk,respectively,of the City ofAmes,Iowa;the seal affixed to the foregoing instrument is the corporate seal of the corporation,and that the instrument was signed and sealed on behalf of the corporation,by authority of its City Council,as contained in Resolution No. d/ /&'- adopted by the City Council on the -day of jq,2!�k�20/O ,and that Ann H.Campbell and Diane R.Voss acknowledged the execution of the instrument to be their voluntary act and deed and the voluntary act and deed of the corporation,by it voluntarily executed. �f Notary Public in and for thej3tate of Iowa JILL L.RIPPERGER Commission Number 146549 _ spy missior'pores Page 3 of 4 r� PINNACLE PROPER 7S,L.L.C. By: -, � Keith D.Arneson,Manager STATE OF IOWA, STORY COUNTY ss: This instrument was aclmowledged before me on the,5 day of 2010,by Keith D. Arneson, as Manager of Pinnacle Properties Ames,L.L.C. Notary Public in and for the State of Iowa o agar,61, CINDY L. * HOLLAR 39 89COMMISSION 1PSO0MY COM ISS10EE /OWA � Page 4 of 4