HomeMy WebLinkAboutA019 - Agreement for Public Improvements dated May 11, 2020, Instrument No. 2020-05296 �o
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c eo Recording Fee: 22.00 Iowa
F Stacie Herridge, Recorder,
Story County ecorder, ' 1�
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INSTRUMENT PREPARED BY: Brian D.Torresi,2605 Northridge Pkw .,Ames,IA 50010 515 288-2500
RETURN TO: I Brian D.Torresi, 2605 Northridge Pkw .,Ames,IA 50010
AGREEMENT FOR PUBLIC IMPROVEMENTS
The parties to this Agreement for Public Improvements are DET LAND COMPANY,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
KINGSBURY'S FOURTH ADDITION,AMES, STORY COUNTY,IOWA; and
WHEREAS,the Owner is required to construct certain improvements and utilities within the
real estate (collectively, the "Improvements") (an identification of the Improvements and 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
shal I deposit with the City a surety bond,letter of credit,or certified check in the amount of SIXTY-
FOUR THOUSAND SIX HUNDRED FIFTY-FIVE DOLLARS and 00/100 ($64,655.00)
conditioned upon the completion of the Improvements as required by the City for said subdivision on
or before the 1 Ith day of May, 2020.
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 May, 2020. ;
DET LAND COMPANY,L.C.
By:
Douglas . P y4e,f NA ember
STATE OF IOWA, STORY COUNTY, SS:
This record was acknowledged before me on this day of May,2020,by Douglas G.Pyle,
as a Member of DET Land Company, L.C.
a
JENNIFER KAPAUN Nota lidxpires
nd for e St4te of Iowa
Oommission Number 783051
My Ca _ lesion Expires My commis r Z
CITY OF AMES,IOWA
By:
hn Joiner
irector of Public Works
EXHIBIT A
IMPROVEMENTS
3
Kingsbury's Fourth Addition Financial Security Estimate
Item Quantity Unit Unit Price Totals
Sidewalk Pavement, PCC, 4"thick 431 SY $40.00 $17,240.00
Sidewalk Pavement, PCC, 6" thick 7 SY $75.00 $525.00
Detectable Warning Panels 10 SF $30.00 $300.00
Sanitary Sewer Connection 1 EA $2,000.00 $2,000.00
Sanitary Sewer Manhole, SW-301, 48" 1 EA $5,000.00 $5,000.00
Sanitary Sewer Gravity Main,Trenched, 8" 152 LF $75.00 $11,400.00
Water Main,Trenched, 8" 154 LF $60.00 $9,240.00
Water Valve, 8" 1 EA $2,500.00 $2,500.00
Water Main Connection 1 EA $3,000.00 $3,000.00
Fire Hydrant Assembly 1 EA $5,000.00 $5,000.00
C05ESCO (erosion control) 6.9 AC $500.00 $3,450.00
Street Lighting 1 LS $5,000.00 $5,000.00
TOTAL: $64,655.00