2022 SIA/Quail Meadows (Howard Mann)110—Appendix F--Subdivision Improvement Agreement
APPENDIX F
SUBDIVISION IMPROVEMENT AGREEMENT
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0148 0066
Debbie Pierson, Flathead County MT by VS 10/i8/2022 12:30
Kalispell City Clerk PM
P.O. Box 1997
Kalispell, MT 59903
SUBDIVISION IMPROVEMENT AGREEMENT
THIS AGREEMENT, made and entered into this 5th day of October , 20 22 ,
by and between the CITY COUNCIL, CITY OF KALISPELL, MONTANA, Party of the First
Part and hereinafter referred to as the CITY, and
Howard Mann as Quail Meadows, LLC ,
(Name of Developer)
a Corporation
(Individual, Company or Corporation)
located at P.O. BOX 206 Lakeside MT 59922 ,
(Street Address/P. O. Box) (City, County, State, Zip)
Party of the Second Part and hereinafter referred to as DEVELOPER.
WITNESSETH:
THAT WHEREAS, the Developer is the owner and developer of a new subdivision known as
Quail Meadows
(Name of Subdivision)
located at
Kalispell MT
(Location of Subdivision) and,
WHEREAS, the City has conditioned it's approval of the final plat of
Quail Meadows , upon the conditions as set
forth (Name of Subdivision) 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 included herewith as "Exhibit
B"; and
WHEREAS, the estimated total cost of construction of said improvements is the sum of
t ..
I I 1 -- Appendix F— Subdivision Improvement Agreement
239, 790.58
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, in the amount of $ 299,738.22
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 $ 299,738.22 the estimated
cost of completing the required improvements in Quail Meadows
(Name of Subdivision)
b. That if the Developer fails to complete the specified improvements within the required
period, the creditor will pay to 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 hp r 1 20 A3 .
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 two (2) years 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 has 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.
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112— Appendix F—Subdivision Improvement Agreement
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 the
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.
eAdawjtl.LC-
(Name of Subdivision/Developer/Firm)
by L 7%r—
(Title)
STATE OF MONTANA
COUNTY OF 'FL�k"C1-4-�A�IJ
On this S day of 0C: rZ > 66 , 20 z2 , before me, a Notary Public for
the State of Montana, personally appeared _14D",497np ?: &A-&ZA4 , known to
me to be the ", ffpjjit5C of V0,414- ` 4FADcKtS, -LL I'., , whose
name is subscribed to the foregoing instrument and acknowledged to me that he/Vw4xecuted the
same.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my Notarial Seal this day
and year first above written.
Notary Public for the tate of Montana
Printed Name VkxJG L AS J i:1�9 LAB
Residing at
My Commission Expires
MAYOR, CITY OF KALISPELL
MAYOR
DOUQlA8 J KAUFFMAN
�T NOTARY PUBLIC for the
State of Montana
SEAL Residing at Kalispell, MT
'NCO My Commission Expires
July 11, 2024.
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IRREVOCABLE STANDBY LETTER Or CREDIT
Issue Date: October 4, 2022
Expiration Date: October 4, 2023
Irrevocable Standby Letter of Credit No. 7090000133 (Backup Note #7040001926)
Account Parry's Name: Quail Meadows, LLC
789 Angel Point Rd
Lakeside, MT 59922
To: City of Kalispell Planning Department
ATTN: PJ Sorenson
P.O. Box 1997
Kalispell, MT 59903
Stockman Bank of Montana ("Issuing Bank") hereby issues this irrevocable standby letter of credit (the
"LOC') in your favor and authorizes you to draw on:
Stockman Bank of Montana
1 S Main St
Kalispell, MT 59901
Up to an aggregate amount of $299,738.22 US Dollars
Original drafts on this LOC shall be manually signed by a duly authorized agent of the Beneficiary,
presented to the Issuing Bank at its office stated above, in a single mailing, by courier or personal delivery,
and to the Attention of the Loan Department and shall state the following:
"This draft, in the amount of $ (the "Draw Amount"), is drawn upon Letter of Credit No.
7090000133 issued by Stockman Bank of Montana. The undersigned, on behalf of the Beneficiary,
certifies that (1) the undersigned is duly authorized to execute and deliver this draft, and (2) the
Draw Amount is due and owing to the Beneficiary."
All drafts drawn under and in compliance with the terms of this LOC will be duly honored on receipt of the
specified documents by the Issuing Bank if actually received on a Business Day and before the Expiration
Date. Partial drawings are permitted provided the aggregate of all draws does not exceed the Stated
Amount. "Business Day" means any calendar day other than a Saturday, Sunday or legal holiday and on
which the Issuing Bank is open for business at the office.
This LOC sets forth in full the Issuing Bank's undertakings and the undertaking shall not be in any way
modified, amended or limited by reference to any other document, instrument or agreement, excepting only
the sight drafts and required drawing statement identified above.
Page 1 0
Member FDIC
This LOC is subject to and governed by the laws of the State of Montana and the Uniform Customs and
Practices for Documentary Credits (2007 Revision), International Chamber of Commerce Publication No.
600 (the "UCP"), and, in the event of any conflict, the laws of the State of Montana will control.
Communications with respect to this LOC shall be in writing and shall be addressed to the Issuing Bank at
the address set forth above. All communications must make reference to the LOC number.
This LOC is non -assignable and non -transferable.
4'Smcly,
--. 4 halk
Commercial Loan Officer
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