SIA dated 1/29/97SUBDIVISION IMPROVEMENT AGREEMENT
THIS AGREEMENT, made and entered into this 99th day of
janua; v. 1 1997, by and between the CITY COUNCIL, CITY OF
KALISPELL, MONTANA, Flathead County, Montana, Party of the First
Part and hereinafter referred to as the CITY, and VISTA
CONSTRUCTION, INC., located at 38880 S.E. Serban Road, Sandy,
Oregon, 97055, Party of the Second Part and hereinafter referred
to as DEVELOPER.
WITNESSETH:
THAT WHEREAS, the Developer is the owner of a new
subdivision known as "LONEPINE VIEW ESTATES AND LONEPINE VIEW
ESTATES, PHASE 2", located in Section 19, T28N, R21W, PM,M,
Flathead County and,
WHEREAS, the city has conditioned it's approval of the final
plat of "LONEPINE VIEW ESTATES AND LONEPINE VIEW ESTATES, PHASE
2", upon the conditions as set forth in the Preliminary Plat of
the Subdivision being completed and all improvements, as cited in
"Exhibit A" have not been completed at this time, and the
Developer wishes to bond for the completion of those improvements
set forth in "Exhibit A"; and
WHEREAS, the City's Subdivision Regulations require that a
subdivider shall provide a financial security of 125% of the
estimated total. cost of construction of said improvements as
evidenced by an estimate prepared by a licensed public engineer
or the contractor included herewith as "Exhibit B", and
WHEREAS, the estimated total cost of construction of said
improvements is the sum of $ 49,115 - 01-
NOW THEREFORE, in consideration of the approval of the final
plat of said Subdivision by the City, the Developer hereby agrees
as follows:
1. The Developer shall deposit as collateral with the City a
Letter of Credit, or other acceptable collateral as determined by
the City Council, City of Kalispell, Montana, in the amount of
$ 49,115 .ol . Said Letter of Credit or other collateral shall
have an expiration date of at least sixty (60) days following the
date set for completion of the improvements, certifying the
following:
a. That the creditor guarantees funds in the sum of
$ 49,115.01 the estimated cost of completing the required
improvements in "LONEPINE VIEW ESTATES AND LONEPINE VIEW ESTATES,
PHASE 2".
b. That if the Developer fails to complete the specified
improvements within the required period, the creditor will pay
the City immediately, and without further action, such funds as
are necessary to finance the completion of those improvements up
to the limited of credit stated in the letter;
2. That said required improvements shall be fully completed
by nPcemhpr '11 , 1999,____.
3. That upon completion of the required improvements, the
Developer shall cause to be filed with the City a statement
certifying that:
a. All,required improvements are complete;
b. That the improvements are in compliance with the minimum
standards specified by the City for their construction and that
the Developer warrants said improvements against any and all
defects for a period of one (1) year from the date of acceptance
of the completion of those improvements by the City:
C. That the Developer knows of no defects in those
improvements;
d. That these improvements are free and clear of any
encumbrances or liens;
e. That a schedule of actual construction costs have been
filed with the City; and
f. All applicable fees and surcharges have been paid.
4. The Developer shall cause to be filed with the City copies
of final plans, profiles, grades and specifications of said
improvements, with the certification of the registered
professional engineer responsible for their preparation that all,
required improvements have been installed in conformance with
said specifications.
IT IS ALSO AGREED BY AND BETWEEN THE PARTIES HERETO AS
FOLLOWS, TO -WIT:
That the Developer shall provide for inspection of all
required improvements by a registered professional engineer
before the Developer shall be released from the Subdivision
Improvement Agreement.
That if the City determines that any improvements are not
constructed in compliance with the specifications, it shall
furnish the Developer with a list of specific deficiencies and
may withhold collateral sufficient to insure such compliance. If
the City determines that the Developer will not construct any or
all of the improvements in accordance with the specifications, or
within the required time limits, it may withdraw the collateral
and employ such funds as may be necessary to construct the
improvement or improvements in accordance with the
specifications. The unused portions of th collateral shall be
returned to the Developer or the crediting institution, as is
appropriate.
IN WITNESS WHEREOF, the Parties have hereunto set their
hands and seals the day and year herein before written,
LONEPINE VIEW ESTATES
LONEPINE VIEW ESTATES, PHASE 2
VISTA CONSTRUCT/ION, INC.
BY 192� , /2G V7-
STATE OF OREGON
County of Clackamas �ss.
On this-1-1— day of January _ , 199 , before me appeared Glenn R. Uskoski
— and both to me personally
known, who being duly sworn, did say that he, the "said Glenn R. Uskoski
is the President, and he, the said
is the Secretary of Vista Construction Inc.
the within named Corporation, and that the seal affixed to said instrument is the corporate seal of said Corporation, and
that the said instrument was signed and sealed in behalf of said Corporation by authority of its Board of Directors, and
Glenn R. Uskoski a-cknowledge
said instrument to be the free act and deed of said Corporation.
IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed my official seal the day and year last above
written.
OFFICIAL SEAL N Public for Oregon.
TIFFANY L. GODINGTQN M / is io expires 1 15 98
NOTARY PUBLIC-OREGON
COMMISSION NO.0=54
MY COMMISSION ExPIRES JAN,15,1998