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Home My WebLink AboutA010 - Supplemental Agreement for Sidewalk dated March 17, 2008 Instrument.'?+j►]�- ii00034€� Date:Apr 07e200E 11:53:14A a f v�_ Fee 20.00 E-Goa Fee: 1.00 � Q Aud Fee .00 Trans Tau ,00 U Rec management Fee' 1.00 o plon-Standard Page Fee: .00 Filed for record in story Gountsy Iaaa o Susan L. Vande, Kamp? County Recorder 1 �.r o CID � b'l � Prepared by: William R.Clark,Jr.,666 Walnut St.,Suite 1550,Des Moines,YA 50309 NWhen Recorded,Return to: William R.Clark,Jr.,666 Walnut St.,Suite 1550,Des Moines,IA 50309 N SUPPLEMENTAL AGREEMENT FOR SIDEWALK The parties to this Agreement are Marguerite Sevde as Trustee of the Richard 11. Sevde Residuary Trust and Randy Sevde and Karin Sevde as Co-Trustees of the Marguerite Sevde Irrevocable'Trust Agreement Dated December 4, 1997,their successors and assigns,hereinafter referred to as "Owners", and the CITY OF A,MES,IOWA,hereinafter referred to as "City". WHEREAS,The Owners are the current holders of title to laird described as: A subdivision of Parcel B in Lots 5, 6,and 7, Oakwood Second Addition to the City of Ames, Story County, Iowa being more particularly described as follows: Beginning at the Southwest Corner of said Lot 6;thence N00°02' 55"E, 335.28 feet along the West line of said Lot 6;thence S89°26' 52"E, 290.00 feet; thence N00°02' 55"E, 300.00 feet;thence S89°26' 52"E, 285.28 feet to a point on the East line of said Lot 5;thence S05°34' 46"F, 121.78 feet;thence N90°00'00" W, 5.00 feet to the Northeast Corner of said Lot 7; thence S00°00, 00" W, 506.04 feet to the Southeast Corner of said Lot 7;thence S89°45' 22"W, 582.64 feet to the point of beginning, containing 6.44 acres, to be known as Woodbridge Subdivision, Ames, Story County,Iowa, for the platting of which an agreement and covenant running with the land was made and recorded as Instrument #09-0344Z in the office of the Recorder for Story County,Iowa; and, WHEREAS,the aforesaid agreement binds the Owners to an obligation to construct a sidewalk as required and specified by the City; and FROM PHONE N0. Mar. 16 2008 10:42PM P3 r 2 WHEREAS, it is now desired that a sidewalk required by the City to be constructed by the Owners along Oakwood Road.in Ames,Iowa,abutting the aforesaid lots, be deferred and secured as hereafter provided; NOW,THEREFORE, in consideration of the premises,it is hereby agreed that the Owners shall maintain in effect with the City a cash escrow or letter of credit in the reasonable amount required by the City's engineer conditioned upon the completion of the sidewalk along Oakwood Road as required by the City for said subdivision at such time as sidewalks are installed elsewhere on Oakwood Road. IT IS FURTHER AGREED that the cash escrow or letter of credit, as the case may be, can be substituted with the City by a successor owner; and that the successor owners shall at all times maintain such cash escrow or letter of credit in effect in such amount as shall be reasonably required from time to time by the City's engineer. The cash escrow or letter of credit shall be drawn on by the City to pay the costs of sidewalk construction required by this Agreement if the sidewalk is not constructed by the Owner within sixty (60)days written notice to do so by the City, IT IS FURTHER AGREED that upon satisfactory completion of the said sidewalk by the Owners,the cash escrow or the letter of credit shall be released. IT IS FURTHER AGREED: 1. That because this Agreement is made for the purpose of meeting the subdivision regulations and plat approval requirements of the City with respect to the said Subdivision,,the City may, consistent with this Agreement, order the installation of those sidewalks to meet the standards of the City. The owners of record at such time shall install such sidewalks at their sole expense. The City shall have the right to bring suit for specific performance of that obligation to install sidewalks. Additionally, or ui the alternative,the City may award contracts for the PROM PHONE NO. Mar. 16 2008 10:43PM P4 3 construction of such sidewalks and assess the costs to all or any part of the land described as WOODBI2IDGE SUBDIVISION to the City of Ames, Story County,Iowa. 2. In anticipation of the possibility that the City maY at some time deem it to be in the public interest to cause construction of sidewalks by means of City awarded contracts to be paid by special assessments to be levied against the Iots aforesaid, Owners do hereby covenant and agree that by execution of this instrument Owners, their successors and assigns, including purchasers of said lots, and each of them, shall pay and are bound to pay to the City,the costs of the aforesaid improvements assessed to the said lots by action of the governing body for the City, after notice of hearing as provided by Section 384.50 Code of lowa,the provisions of Section 3 84.3 8 Code of Iowa notwithstanding. 3. Without affecting the foregoing waivers of rights, and other provisions and obligations of this Agreement, it is understood and agreed that if and when the governing body of the City conducts a hearing on a proposed resolution of necessity to assess sidewalk construction costs to land referred to in this Agreement,the owners of such land may then appear before the governing body of the City and be heard. 4. Additionally, Owners, in consideration of the benefits derived from approval of the said plat of subdivision,receipt of which is hereby acknowledged, do covenant with the City that they will never, at any future time, sue the City,or any officer or employee of the City to challenge validity or enforceability of this Agreement; or, to test the regularity of the proceedings or legality of the assessment procedure,to appeal the amount of the assessment, to enjoin, set aside, overturn, or reduce the amount of such assessments levied against the said land by the City. The .foregoing provisions encumber the land that is platted as WOODBRIDGE SUBDIVISION to the City of Ames, Story County,Iowa. FROM •:` PHONE NO. Mar. 16 2008 10:43PM P5 4 Dated this 17th day of March, 2008, OWNERS X O CITY MES,TOVV � r r, f RICHARD H. SEVDE RESIDUARY TRUST By: 0 Mayor Jl( j4k S 1 A 3 4 Margueriee Sevde Trustee Attest b MARGUERIT$ SEV13E OCABf E City Clerk TRUST D D E E 4, 1997 STATE OF IOWA, COUNT STORY, ss: r dy evde, Co-Trustee On this 025 day of March, 2008,before me, a Notary �Z� --`� 1 Public inand for the State of Iowa, rr in Sevde, Co-Trustee personally appeared�1y)]and'��L l/�S , �2`1[ STATE OF IOWA, COUNTY OF STORY, ss: ,to me personally known, and,who, being by me duly On this 1.7 4� day of March, 2008,before me, sworn, did say that they are the a Notary Public in and for the State of Iowa,personally Mayor and City Clerk, respectively, appeared Marguerite Sevde, to me personally known, of the City of Ames,Iowa;that the who being by me duly sworn,did say that she is the seal affixed to the foregoing instru- Trustee of the Richard H. SevdeLidary, st; that went was signed and sealed on the said instrument was signedehalf of behalf of the corporation, by said Trust by the fiduciary by hecuted. authority of its City Council, as contained in Resolution No. bq;, ado ted by the City Council on the JEAN E.SH y' ublz m and for the State of Iowa 7 day of l00-Ve� f �Commission Number ices 20 00o ,and that J- i1 ow �Commission Expires July 17,2010 and LINTY OF STORY, ss: (L. 'LL- 5�;S acknow- ledged the execution of the instru- On this�day of March, 2008, before me, ment to be their voluntary act and a Notary Public in and for the State of Iowa,personally deed and the voluntary act and deed appeared Randy Sevde and Karin Sevde,to me personally of the corporation,by it voluntarily known, who being by me duly sworn, did say that they executed, are the Trustees of the Marguerite Sevde Irrevocable Trust o Under Agreement Dated December , 1 97; that the said instrument was signed an e ed on behalf of Notary Public in d f the said Trust by the fiduciaries b voluntarily executed. State of Iowa �P?.%At S� JILL L. RIPPE-RGER 0 1i in and for the State of Iowa ° '; COMMISSIOU# i�:5549 4� tsF JEAN E. MY COm1bi1SS10PJG"PL46S _ Commisslon Number 197454 My Commission Expires • owA July 17,2010