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Home My WebLink AboutA002 - Supplemental Agreement for Public Improvements, Instrument No. 2022-01357 Instrument 4: 2022-01357 02/11/2022 01 :20:31 PM Total Pages: 7 00 OTHER Recording Fee: $ 37.00 Stacie Herridge,, Reclordelr', Story County Iowa Return to: mill �1� � VC1141%rifkY i��1Y�Y�11�M 1u Ames City Clerk � 1 11111 � Box 811 Ames IA 50010 Prepared by and upon recordation retorm to! Robert W. Goodwin 2211 Philadelphia Street Suite 101 Ames Iowa 50010 515-232-7390 SUPPLEMENTAL AGREEMENT FOR PUBLIC IMPROVEMENTS This Supplemental Agreement For Public Improvements is made by and between the City of Ames, Iowa and WW Holdings Corporation. A. DEFINITIONS. The following terms are defined: A.1 "City"means the City of Ames, Iowa. A.2 "WW"means WW Holdings Corporation. B. ATTACHMENTS. The Preliminary Plat Kingsbury's Addition, Ames, Iowa, Exhibit A, consisting of two (2) sheets, is attached hereto and incorporated herein by this reference for the purpose of aiding in the description and understanding of the terms in this Supplement Agreement For Public Improvements. WHEREAS, WW is the Owner of real property in Ames, Story County, Iowa, legally described as follows: Lot One (1) in Kingsbury's Fourth Addition, Ames, Story County, Iowa. WHEREAS, WW Holdings Corporation is in the process of platting and subdividing Lot One (1) Kingsbury's Fourth Addition, Ames, Story County, Iowa into Kingsbury's Fifth Addition to the City of Ames, Story County, Iowa. WHEREAS,there is a Development Agreement Kingsbury's Third Addition(n/k/a Kingsbury's Fourth Addition) dated May 12, 2020 filed in the office of the Story County Recorder as Instrument No. 2020-05055 with DET Land Company, L.C., which owned Lot 1, Lot A and Lot 2 as shown in the attached Exhibit A Sheet 1. Lot A was dedicated to the City of Ames, Iowa pursuant to that Agreement. I WHEREAS, there is an Amendment To Agreement For Public Improvements (hereinafter"Amendment") dated August 24, 2020 filed in the office of the Story County Recorder as Instrument No. 2020-11151 on September 24, 2020. That Agreement recognizes that WW has become the Owner of Lot 1 as shown in Exhibit A Sheet 1. WW is developing Lot 1 into four lots (1-4) as shown in Exhibit A Sheet 2. NOW THEREFORE, the Parties hereto agree as follows: 1. The event that will require paving SE 3`d Street and installing a sidewalk along SE 3`d Street as shown in Exhibit A Sheet 2 is the issuance of a Minor or Major Site Development Plan for Lot 3 of the Fifth Addition owned by WW, or the development of Lot 2 of the 41h Addition, which is owned by DET Land Company, L.C.. As agreed by and between WW and DET Land Company, L.C. in the Amendment To Agreement For Public Improvements dated August 24, 2020, WW shall be responsible to pave SE 3`d Street and install the sidewalk along the north side of SE 3`d Street, both according to City standards. 2. The event that will require installing a sidewalk along the northwest portion of Lot 4 of the Fifth Addition as shown in Exhibit A Sheet 2 is the issuance of a Minor or Major Site Development Plan for said Lot 4. WW shall be responsible for the installation of said sidewalk, according to City standards. 3. Nothing herein shall be construed to release or modify the amount of security deposited with the city required under the Amendment filed September 24, 2020 as Instrument No. 2020-11151. 4. Sidewalks must be installed along Lots 1 and 2 within 36 months if no development occurs before. 5. WW is required to construct certain improvements and utilities (the "Improvements") within the real estate as shown on the attached Exhibit `B' and incorporated herein by reference. WW shall deposit with the City Clerk cash security in the amount of $67,340 to secure the Improvements. The parties agree that the City may construct the Improvements in the event that WW, or its successors and/or assigns, fail to do so as agreed, and to cover the cost with the cash security deposited with the City Clerk. Upon the satisfactory completion of the said Improvements, including paying the reasonable engineering and inspections fees therefor, the Clerk may release the security to the party posting the same. 6. The City acknowledges that WW has provided to the City cash security in the amount of$67,340 to secure the public improvements required in paragraph 5 above. The financial security calculation is attached to and made a part of this document as Exhibit `B'. 7. Upon the approval of this Agreement, it is acknowledged that the City Clerk will release to WW the existing $17,315 line of credit held under the terms of the Amendment for Lot 1 of Kingsbury's Fourth Additiuon, Ames, Iowa. 8. This Agreement shall be binding on all successors and assigns of the parties hereto. 2 WW HOLDINGS CORPORATIO By: Ryan E. is, President and Director STATE OF IOWA, COUNTY OF STORY, SS: This instrument was acknowledged before me on February Z1 , 2022, by Ryan E. Davis, President and Director of WW Holdings Corporation. a"W;-'j �-- JONI C RENTSCHLER No Public in and for the State of Iowa Commission Number 815743 My Co m- ;on W 3 Passed and approved on t�C 6�, , 2022, by Resolution No. adopted by the City Council of the City of Ames, Iowa. Y ;* CITY OF AMES, IOWA A, dk J�� figs $#h L N * x John A. Haila, Mayor P Attest: A�C „ Diane R. Voss, City Clerk STATE OF IOWA, COUNTY OF STORY, SS: � ' 2022, by This instrument was acknowledged before me on John A. Haila and Diane R. Voss, as Mayor and City Clerk, respectively, of the City of Ames, Iowa. 0 titi Notary blic in and for the State of Iowa AMY L.COLWELL � :Commission iWimbvh 812138 = MY !TTnt �i j _ _ on ___ Il a -_ Mill I I1 �- -----�--'— .��,,11 �\` -- ��-,�F-%� ��.<�« ��a�c -T-- -4- I �gw Jti gig I j i i Ji 1 as a—i i I I -tag EM ———--—————— ig � N G Cc D NO, �ox X-. I— Exhibit A Sheet 1 15- !ltt 43 Milt RIM V R ji. 5 g c-0 f 4 PEI Z FIAM 1 rill, fl!l If- lqf 7 —T IF ———————— It IF 41 v 5 Ric—1 1 �orcll ox `4�l m illb so.;a,I 3�M Exhibit A Sheet 2 Kingsbury's Fifth Addition, Ames, Story County, Iowa Exhibit `B' Financial Security Calculation Public huprovements Item/Purpose Unit Quantity Unit Cost Improvement Costs Remainin Hydrant Assembly EA 2 4,500.00 9,000.00 Water Main,8-inch valve&Sleeve EA 1 2,430.00 2,430.00 Water Main,Trenched,PVC 8-inch LF 248 50.00 12,400.00 Sanita Sewer Manhold,SW-301,48-inch Dia. EA 2 7,500.00 15,000.00 Sanitary Sewer,Gravity,Trenched PVC,8-inch LF 198 50.00 9,900.00 Sidewalk Pavement,PCC,4" SY 431 35.00 15,085.00 Sidewalk Pavement,PCC,6"thick(Lot 1,41' SY 5.6 75.00 420.00 Addition Detectable Warning Panels(Lot 1,41 Addition) SF 8 30.00 240.00 COSESCO(erosion control)(Lot 1,41 Addition) AC 5.7 500.00 2,865.00 TOTAL 67,340.00 G City Department of Public Works Approved By: Tracy Peterson, .E., Municipal Engineer