HomeMy WebLinkAboutA016 - Agreement for Public Improvements dated December 15, 2016 Fo rl<-
DO NOT WRITE IN THE SPACE ABOVE THIS LINE,RESERVED FOR RECORDER
Prepared by: Seth D.Dodge,409 Duff Ave.,Ames,1A 50010
AGREEMENT FOR PUBLIC IMPROVEMENTS
The parties to this Agreement, made pursuant to Section 23.304, Ames Municipal Code,
are Pinnacle Properties Ames, LLC, hereinafter referred to as "Owners", and the CITY OF
AMES,IOWA,hereinafter referred to as "City".
WHEREAS, the Owners has platted a number of subdivisions known as South Fork
Subdivision Third, Fourth, Sixth, and Eighth Additions,Ames, Story County,Iowa; and
WHEREAS, the Owners are required to construct certain improvements and utilities
within the real estate, to wit: See page 2, by not later than December 20, 2019 and, to pay
reasonable engineering and inspection fees therefor, all as part of the platting procedure of the
City.
NOW, THEREFORE, in consideration of the premises, it is hereby agreed that the
Owners shall deposit with the City a surety bond, letter of credit or certified check in the amount
of$37,595 conditioned upon the completion of the said improvements and utilities, by the said
date, as required by the City for said Subdivisions, in accordance with plans and specifications
on file with the City,s engineers and by this reference made a part of this agreement.
IT IS FURTHER AGREED that City reserves the right to construct said improvements
and utilities in the event Owners fail to do so as herein agreed, and to cover the costs thereof with
the surety.bond, letter of credit or the certified check, as the case may be.
IT IS FURTHER AGREED that upon satisfactory completion of the said improvements
and utilities, including the paying of reasonable engineering and inspection fees therefor, the
bond shall be released and the bondsman exonerated, the letter of credit released or the certified
check shall be returned to Owners, as the case may be.
DATED this day of =G, (.
OWNERS CITY OF AMES,IOWA
Pinnacle Prope ies Am S,LLC
i
By: " c,lpti By:
Keith Arneson,Manager
,rector of Public Works
Itemized List
CITY OF AMES,IOWA
PINNACLE PROPERTY AMES,LLC.-SOUTH FORK MISCELLANEOUS ITEMS
H:\PINNP\A13112174\3 Design\A Calculations\IOPC-SF WRAP UP-LETTER OFLREDIT.xIs)OPC 13-Dec-16
OPINION OF PROBABLE COST- PARTIAL
ITEM NO., ITEM UNIT TOTAL UNIT PRICE TOTAL
REMAINING ITEMS
1 LOT 10.SF 3RD;FRONT YARD SY 217 $ 34.50 $ 7,486.50
2 LOT 4&S.SF 4TH,SIDE YARD SY 47 $ 34.50 $. 1,621.50
3 LOT 10&11,SF 4TH,SIDE YARD SY 47 $ 34.50 S 1,621.50
4 LOT 7,SF 6TH,SHARED USE TRAIL SY 44 $ 34.50 $ 1,518.00
S —LOTS,SF BTH,SIDE YARD SY 79 $ 34.50 $ 2,72550
6 , LOT 5,SF 8TH,FRONT YARD SY 76 $ 34.50 $ 2,622.00
7 REMAINING STREET TREES&CONTINGENCY LS 1 $ 20,000.00 $ 20,000.00
SUBTOTAL: $37,595.05