HomeMy WebLinkAboutA013 - Floating Future Stormwater Drainage Easement RETURN TO:
BRIAN D. TORRESI
2605 NORTHRIDGE PRWY., STE. 101
AMES, IOWA 50010 lat-4 Instruae �2)1�?-
nt 00014226
11 Date:Nov 2BP2012 01:23:15P
D Rec Fee: 10.00 E-Coo Fee: 1.00
Aud Fee: .00 Trans Tax: .00
Rea Management Fee: 1.00
Non-Standard Page Fee: .00
Filed for record in Story Counts, Iowa
Susan L. Vande Yanv, County Recorder
INSTRUMENT PREPARED BY: Brian D.Torresi,2605 Northridge Pkwy., Ste.101,Ames,IA 50010(515)288-2500
RETURN To: ., ,
FLOATING FUTURE STORMWATER DRAINAGE EASEMENT
1. DEFINITIONS. When used in this agreement,unless otherwise required by the context:
(a) "Grantor" means Deery, Deery and Deery, LLC, and includes Grantor's successors and
assigns, whose mailing address for purposes of this Agreement is: 7404 University Avenue, Cedar Falls,
Iowa 50613.
(b) "Agreement"means this instrument as signed by the Grantor.
(c) "Benefited Property"means the real property described as follows:
Lot Three(3),Deery Subdivision,Ames, Story County,Iowa
(d) "Burdened Property"means the real property described as follows:
Lot Two(2),Deery Subdivision,Ames, Story County,Iowa
(e) "Qfty"means the City of Ames, Iowa.
2. GRANT OF FUTURE EASEMENT RIGHTS. Grantor, for good and valuable consideration,
the receipt and sufficiency of which is hereby acknowledged, hereby grants, sells, and conveys to the
City, the right to require the Grantor to establish an easement upon, over and across any portion of the
Burdened Property, at a future date in accordance with Paragraphs 3 and 4 herein, for the purpose of
stormwater drainage, for the benefit of the Benefited Property, together with all other rights and
appurtenances thereto.
3. PURPOSE. This Agreement: (a) allows the City to require the establishment of a
stormwater drainage easement upon, over and across the Burdened Property for the benefit of the
Benefited Property; (b) does not represent the actual stormwater drainage easement area, but only an
agreement to a future easement to be enacted prior to occupancy of an improvement on the Burdened
Property; and (c) is being established due to the Grantor's desire to phase the site development.
Notwithstanding anything in this Agreement to the contrary, any and all rights or privileges granted or
purportedly granted herein, whether present or future, are all subject to and conditioned upon the
Benefited Property being developed prior to the Burdened Property.
4. TIMING AND REVIEW. The final stormwater drainage easement authorized and
contemplated under this Agreement shall be reviewed and approved by the City prior to being recorded in
the office of the Story County Recorder. The rights granted herein shall terminate upon the earlier to
occur of. (a) the location and establishment by the City of an identifiable stormwater drainage easement
area on the Burdened Property; or(b)the commencement date of construction of an improvement on the
Burdened Property.
5. NONEXCLUSIVE EASEMENT. The rights granted under this Agreement to the City are
not exclusive. This Agreement shall not preclude Grantor from granting similar easement rights to third
parties upon terms and conditions that do not impair or diminish the rights granted under this Agreement
to the City.
6. TITLE WARRANTY. Grantor warrants to the City that Grantor holds the Burdened
Property by title in fee simple; that Grantor has good and lawful authority to grant the easement rights
herein provided for; and that any prior liens or encumbrances on the Burdened Property will either be
released forthwith or will be subordinated to the easement rights granted herein by a duly executed and
recorded subordination agreement.
7. RIGHTS RESERVED. Grantor reserves any and all rights to continue to use and enjoy the
Burdened Property for any and all purposes that do not unreasonably interfere with or interrupt the
enjoyment of the easement rights as referenced herein.
8. OBSTRUCTIONS PROHIBITED. Except as may be provided in this Agreement,unless the
prior written consent of the City is obtained: (a) no buildings, structures or improvements, either
permanent or temporary in nature, may be installed on the Burdened Property; (b)no building permits or
site development plans may be approved for the Burdened Property; (c) no terrain of the Burdened
Property may be altered; and (d) no utilities may be placed in, on, through, over or across the Burdened
Property.
IN WITNESS OF THIS AGREEMENT Grantor has executed this Agreement on thiz�day of
`,2012.
DEERY RY AND DEERY,LLC,Grantor
/ 10" P1ff?AJ'
By:
NAME TITLE
STATE OF IOWAV)Lrnc�,,f—OUNTY, ss:
This instrument as acknowledged before me on this_ day o 2012, by
DJ r- ,th � of Deery,Deery and Deery,LLC.
i PJ ,
�. RANDA WINSKI Notary Public in and for the State of Iowa
t Commission Number 747638
M i n res
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