HomeMy WebLinkAboutA012 - Agreement for Public Improvements dated August 1, 2012 - Not Recorded r ,
INSTRUMENT PREPARED BY: Brian D.Torresi,2605 Northridge Pkwy.,Ames,IA 50010 515)288-2500
RETURN To: Brian D.Torresi,2605 Northridge Pkwy.,Ames,IA 50010
AGREEMENT FOR PUBLIC IMPROVEMENTS
The parties to this Agreement are HEARTLAND DEVELOPMENT,LLC(the"Owner")and
the CITY OF AMES, IOWA (the"City").
WHEREAS, the Owner is in the process of platting real estate to be known as
RINGGENBERG PARK SUBDIVISION THIRD ADDITION, AMES, STORY COUNTY,
IOWA; and
WHEREAS,the Owner is required to construct certain improvements and utilities within the
real estate, to-wit: erosion control, grading and paving on Cedar Lane, and surface paving and
pedestrian ramps and facilities for Coyote Drive and Red Fox Road.
NOW, THEREFORE, in consideration of the premises, it is hereby agreed that the Owner
shall deposit with the City a surety bond, letter of credit, or certified check in the amount of
$250,000.00 conditioned upon the completion of the improvements and utilities as required by the
City for said subdivision on or before the day of February, 2014.
IT IS FURTHER AGREED that City reserves the right to construct said improvements and
utilities in the event Owner fails to do so as herein agreed, and to cover the costs thereof with the
letter of credit.
v �
IT IS FURTHER AGREED that upon satisfactory completion of the said improvements and
utilities, including the paying of reasonable engineering and inspection fees therefore, the letter of
credit shall be released.
Dated this I day of August, 2012.
HEARTLAND DEVELOPMENT,LLC
By:
rt W. Friedrich,Manager
By:
Ric and J. Jo s , Manager
STATE OF IOWA, STORY COUNTY, SS:
This instrument was acknowledged before me on this day of August,2012,by Kurt W.
Friedrich and Richard J. Johansen, as the Managers of Heartland Development, LLC.
,Pp'°�s/ ELIZA M ®AIGGS
_° Commission Plumber 770187
• 'OW P . My Com oissi 2 o'P�'}s otaryPublic in and r th St e o owa
�j
CITY OF AMES,IOWA
By:
John finer
Director of Public Works