HomeMy WebLinkAboutA008 - Agreement for Public Improvements dated December 7, 2017 o
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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, SIXTH ADDITION,AMES, STORY COUNTY, IOWA; and
WHEREAS,the Owner is required to construct certain improvements and utilities within the
real estate, to-wit: pavement, sidewalks, truncated domes, and street trees (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 FORTY-
FIVE THOUSAND THREE HUNDRED SEVENTY-NINE DOLLARS and 00/100($45,379.00)
conditioned upon the completion of the Improvements as required by the City for said subdivision on
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or before the day of 3yl , 20-.
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 December, 2017.
(SIGNATURE PAGE FOLLOWS)
SIGNATURE PAGE OF
AGREEMENT FOR PUBLIC IMPROVEMENTS
PINNACLE PROPERT S AMES,L.L.C.
By:
Keith D.Arneson,Manager
STATE OF IOWA, STORY COUNTY, SS: JA
This record was acknowledged before me on this 1 f day of Nevembur,2017,by Keith D.
Arneson, as the Manager of Pinnacle Properties Ames,L.L.C.
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Notary Public and for the State of Iowa
My commission expires 3r
CITY OF AMES,IOWA o,P13IA4 S� NA NCV D^CRE�'V
COMA'ISSION WALD
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Jomer
Director of Pubhc,Works
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EXHIBIT A
CITY OF AMES,IOWA
PINNACLE PROPERTY AMES,LLC.-CRANE FARM 6TH ADDITION
20-Nov-17
REMAINING ITEMS
ITEM NO ITEM UNIT TOTAL UNIT PRICE TOTAL
REMAINING ITEMS
1 PAVEMENT,HMA,SURFACE COURSE SY 1752 $ 6.00 $10,512.00
2 SIDEWALK PCC,4-INCH SY 778 $ 35.00 $27,230.00
3 SIDEWALK,PCC,VNCH SY 21 $ 72.00 $ 1,512.00
4 TRUNCATED DOMES SF 40 $ 50.00 $ 2,000.00
5 STREETTREES EA 15 $ 275.00 $ 4,125.00
SUBTOTAL: $45,379.00