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HomeMy WebLinkAboutA010 - Public Improvements Agreement dated July 14, 2009 RETURN TO: LARRY R. CURTIS BOX 664 0AInstrueent:2009- 00008171 AMES IA 50010-0664 h Date:Jul 16Y2009 08:55:18A D c Fee: 15.00 E-Coe Fee: 3.00 G Re Fee: - .00 Trans Tax: .00 Rec Management Fee: 1.00 tion-Standard Page Fee: .00 Filed for record in Stors Counts, Iowa Susan L. Vande KamPi Counts Recorder PREPARED BY: DOUGLAS R. MAREK, CITY OF AMES LEGAL DEPT, 515 CLARK, AMES IA PUBLIC IMPROVEMENTS AGREEMENT., (239-5146) THIS IS AN AGREEMENT made by and between City and Developer upon the following terms and.conditions: 1. DEFINITIONS. When used in this Agreement, unless otherwise required by the context: 1.1. "City" means the City of Ames, Iowa, a municipal corporation existing under the laws of the State of Iowa and located.in Story County, Iowa, _ with a mailing address of 515 Clark Ave., Ames, IA 50010. 1.2., "Developer" means Scott E. Randall, with a mailing address of 420 S. 17th, Ames, IA 50010. 1.3. "Agreement" means this instrument as signed by the parties'. 1.4. "Subdivision" means Grand Aspen Subdivision, Third Addition, Ames, Iowa. - 1.5. "Construction Plans" means the construction drawings and detailed specifications prepared by Fox Engineering Associates, whose address is 1608 Golden Aspen, Suite 103, Ames, IA 50010. 2. CIRCUMSTANCES. City requires that Developer, as the owner of Subdivision, install and construct at Developer's expense for the benefit of City certain public improvements as a condition for approving the final plat of Subdivision. & PUBLIC IMPROVEMENTS. Developer shall construct and install within the Subdivision, in accordance with the Construction Plans, and the subdivision ordinance of the City, the following public improvements: 3.1. Bike path and Lot 1, Grand Aspen Subdivision, Third Addition, Ames, Iowa, S. 16t" street widening, both pursuant to paragraphs 5 and 6 of a certain Developer's Agreement dated ,rt(A-y e,l P,5,aC0(, and _approved by the Ames City Council on 2-3 ZP 2 3.2. South 16'" lane widening along Outlot B of Grand Aspen Subdivision, Third Addition, Ames, Iowa, and Outlot B of Aspen Ridge Subdivision, First Addition, Ames, Iowa, pursuant to paragraph 7 of a certain Developer's Agreement dated ,and approved by the Ames City Council on ,ice S 2' t 2 4. COMPLETION DATE. Developer shall complete the construction and installation of all public improvements specified in the Construction Plans before (a) September 1, 2009, and (b) June �3f, 2011. 5. ENGINEERING SERVICES. The City's engineer shall review and approve all construction plans and specifications for public improvements to be installed under this Agreement and shall inspect all work performed by Developer under this Agreement. Developer shall be liable to City for the cost of such inspections and shall pay for such services as billed by City. 6. SECURITY FOR COMPLETION. Developer shall deliver to the City prior to the City's approval of the final plat of the Subdivision a letter of credit issued to the City by First American Bank, Ames, in the amount .of $180,670.00, and Community State Bank, N.A., Ankeny, Iowa, for Developer, in the amount of $108,610.00. The letter of credit shall be in the form as shown in the attached Exhibits "A" and "B". In the event Developer fails to perform this Agreement before the Completion Date, unless extended by the City by a separate written amendment hereto, the City may draw on the aforesaid letter of credit and complete public improvements not then completed. City shall accept substituted or amended letters of credit releasing security as public. improvements are certified as completed by City's engineer. 7. NOTICES. Unless otherwise required by law, any notice or demand required or permitted by the terms of this.Agreement shall be sufficient and deemed complete when expressed in writing and either (a) personally delivered to the person entitled thereto, or (b) deposited at any office of the United States Postal Service in the form of certified mail addressed to the last known mailing address of the person entitled thereto, or (c) served on the person entitled thereto in the manner of an original notice under the Iowa Rules of Civil Procedure. 8. INTERPRETATION. Words and phrases used. in this Agreement shall be construed as in the single or plural number, and as masculine, feminine or neuter gender, according to the context. This Agreement shall be governed exclusively by and construed in accordance with the laws of the State of Iowa. The paragraph headings in this Agreement are for convenience. only and in any way define or limit the scope or intent of any provisions of this Agreement. This Agreement may be executed in any number of counterparts, each of which shall be regarded as an original and all of which shall constitute but one and the same instrument. This Agreement shall be binding upon and inure to the benefit of the respective successors and assigns of all parties executing this Agreement. I WITNESS OF.THIS AGREEMENT Developer has executed this instrument on , 2009. 3 SCOTT E. RANDALL, Developer IN WITN SS- OF THIS AGREEMENT City has executed this instrument on , 2009. C OF MES, IOWA Bye Vianletoss, Ann H. Campbell, Mayor -Clerk . s X r 9ti APPR WMERKM BY DOU LAS CITY ATTORNEY