HomeMy WebLinkAboutA011 - Agreement for Public Improvements dated July 14, 2017 Instrument 0: 2017-07167
o 07/18/2017 03:36:35 PM Total Pages: 4
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�h Recording Fee: 22.00
$ Stacie Herridge, ecorder, Story County Iowa
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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 for Public Improvements are PINNACLE PROPERTIES
AMES, L.L.C. (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 CRANE
FARM SUBDIVISION, FOURTH 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 (COSESCO), sanitary sewer,water main, storm sewer,paving,
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sidewalks, seeding, and street lights (collectively, the "Improvements") (a breakdown of the
estimated cost of completion of each of the Improvements is attached hereto as Exhibit A and
incorporated herein by this reference as if fully set forth).
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 TWO
HUNDRED THIRTEEN THOUSAND TWO HUNDRED THIRTY-FOUR DOLLARS and
27/100($213,234.27)conditioned upon the completion of the Improvements as required by the City
for said subdivision on or before the day of 20F
IT IS FURTHER AGREED that City reserves the right to construct said Improvements in the
event Owner fails to do so as herein agreed, and to cover the costs thereof with the letter of credit.
IT IS FURTHER AGREED that upon satisfactory completion of the said Improvements,
including the paying of reasonable engineering and inspection fees therefore,the letter of credit shall
be released.
Dated this day of June, 2017.
(SIGNATURE PAGE FOLLOWS)
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SIGNATURE PAGE OF
AGREEMENT FOR PUBLIC IMPROVEMENTS
PINNACLE PROPERTI S AMES,L.L.C.
By:
Keith D. Arneson,Manager
STATE OF IOWA, STORY COUNTY, SS:
This record was acknowledged before me on this(_ day of June, 2017, by Keith D.
Arneson, as the Manager of Pinnacle Properties Ames, L.L.C.
Ali � 0LBRIAN TORRESIMMISSION No.742380
COMMIS,
WIRES Notary Public in and for the State of Iowa
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CITY OF AMES,IOWA
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EXHIBIT 'A' —Schedule of Improvements
Water $37,097. 05
Sanitary $18,618.60
Storm $27,696. 17
COSESCO $1,440.00
Street $82,078.95
Electric $14,000.00
Sidewalk $32,303.50
Tota l $213,234.27