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�_*Instrumant:'N116- OFIAU215
M Date:h! 05,2016 02:36:115P
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Cn 44 Filed For record in Story countyi Iowa
btacie L. Herridse, ColjnUf Recorder
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Prepared by and return to: Alex P.Galyon P.O.Box 1723,Ames,Iowa 50010 515-233-8850_
AGREEMENT FOR PUBLIC IMPROVEMENTS
The parties to this Agreement are GW LAND HOLDINGS, LLC (hereinafter
referred to as the "GW Land Holdings") and the CITY OF AMES, IOWA(hereinafter
referred to as the "City").
WHEREAS, GW Land Holdings, is in the process of platting a subdivision of real
estate to be known as CRANE FARM SUBDIVISION,FIRST ADDITION,AMES,
STORY COUNTY,IOWA (hereinafter referred to as the "Subdivision"); and
WHEREAS, GW Land Holdings will be required to construct improvements and
utilities over certain parcels of land within the real estate, to-wit:
paving, utilities, erosion control, street lights, and storm water management.
NOW, THEREFORE, in consideration of the premises, it is hereby agreed that
GW Land Holdings shall deposit with the City a surety bond, letters of credit or certified
checks totaling $1,642,800.00 conditioned upon the completion of the
improvements and utilities as required by the City for said subdivision on or before June
24, 2016.
IT IS FURTHER AGREED that the City reserves the right to construct
said improvements and utilities in the event GW Land Holdings fails to do so herein, and
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to cover the costs thereof with the surety bond, letters of credit or certified checks.
IT IS FURTHER AGREED that upon satisfactory completion by GW Land
Holdings of the obligations for the said improvements and utilities, including the paying
of reasonable engineering and inspection fees therefor,the surety bond, letters of credit or
certified checks shall be released.
This Agreement shall be filed for record in the office of the Story County
Recorder and all covenants, agreements, promises and representations herein stated shall
be deemed to be covenants running with the land and shall endure and be binding on the
parties hereto, their successors and assigns, for a period of twenty-one (21)years from the
date of the recording of these covenants, unless claims to continue any interest in the
covenants are files as provided by law.
Dated this day of �i�-v�� , 2016.
(Signature Pages Follows)
s
GW Land Holdings, LLC
By: Alex V Galyon, Manager
STATE OF IOWA, COUNTY OF ss:
This record was acknowledged before me on this day of June, by Alex P.
Galyon as Manager of GW Land Holdings, LLC.
SAMUEL ASA ESCH I -'
e Commission Number 795729
My Commission Expires Notary Public in and for sat-to e.
°N1 April 19, 2017
City of Ames, Iowa
John Joiner, Diy ctor of Public Works
STATE OF IOWA, COUNTY OF_SOW , ss:
This record was acknowledged be ore me on this o O day of
2016,by John Joiner as Director of Public Works for the City of Ames, Iowa.
Notary Public in and for said State.
NEW]
16s
APPR VED �T�O�FORM
BY
J K. PARKS
C Y ATTORNEY
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