HomeMy WebLinkAboutA012 - Agreement for Public Improvements dated May 4, 2017 I
Instrument N: 2017-05059
05/30/2017 10:15:47 AM Total Pages: 4
00 OTHER
Recording Fee: s 22.00
Stacie Herridge, Recorder, Story County Iowa
1111 K WAN4910U N INUINN 11111
DO NOT WRITE IN THE SPACE ABOVE THIS LWE,RESERVED FOR RECORDER
Prepared by:John A.TiHo,Pasley&Singer law Finn,LLP,323 Sixth St,P.O.Box 664,Ames,IA 50010;515-232-4732
ftu) Return to:City Cleric,City of Ames,515 Clark Ave.,Ames,IA 50010
AGREEMENT FOR PUBLIC IMPROVEMENTS
The parties to this Agreement are Tailwind 1854 Madison, LLC, a Minnesota limited
liability company,hereinafter referred to as "Owner",and the CITY OF AMES,IOWA,
hereinafter referred to as "City".
WHEREAS,the City approved a minor subdivision final plat pursuant to Section 23.303,
Ames Municipal Code which is now known as Aspen Business Park Subdivision,Third Addition,
Ames, Story County, Iowa(the"Real Estate"); and,
WHEREAS,the Owner is the sole,lawful owner in fee simple of the Real Estate;and,
WHEREAS, the Owner consents to the City's request to further clarify the public
improvements to be installed and constructed by Owner on said Real Estate; and,
WHEREAS, the Owner agrees to construct certain improvements and utilities within the
Real Estate, to wit: See "Itemization" on page 2, by not later than April 10, 2018 and, to pay
reasonable engineering and inspection fees therefore, all as part of the platting procedure of the
City; and
WHEREAS,the Owner has deposited with the City an irrevocable standby letter of credit
dated April 10, 2017 in the amount of$595,633.94 conditioned upon the completion of the said
improvements and utilities, by April 10, 2018, as required by the City for said Subdivision, in
accordance with plans and specifications on file with the City's engineers and by this reference
made a part of this agreement.
NOW,THEREFORE, in consideration of the premises, it is hereby agreed that the 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 irrevocable standby letter of credit.
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 and returned to Owner.
DATED this q'6 day of 2017.
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2017-05059 00 05/30/2017 10:15:47 AM Page 2 of 4
In Witness Whereof the Owner executes this instrument on �1 ,
2017.
Tailwind 1854 LLC
By:Micael Sather,Managing Member
STATE OF COUNTY OF eN t4 v+ SS:
This instrument was acknowledged before me this day of May, 2017, by
Michael Sather,Managing Member of Tailwind 1854 Madison,LLC.
(SEAL)
4mwa e. N46q Public in and for the State of K)
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2
2017-05059 00 05/30/2017 10:15:47 AM Page 3 of 4
In Witness Whereof the City executes this instrument on +f
Jo Joiner,
Difector of Public Works }
City of Ames,Iowa
STATE OF Iowa,COUNTY OF Story, SS:
This instrument was acknowledged before me this day of May, 2017, by
John Joiner,Director, City of Ames Public Works.
(SEAL) L IR
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Notary Public in and for t1kState of Iowa
sw Jilt L Ripperger
F C mmissWn Number 146549
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• 2017-05059 00 05/30/2017 10:15:47 AM Page 4 of 4
Itemized List
1. Public Streets—Lot A, S. 17d'Street
2. Sanitary Sewer Line
3. Storm Sewer Line
4. Water Main
5. Street Lighting
6. Street Trees
7. Sidewalks
8. COSESCO
4