SIA (Recorded)2005265 10020
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Kalispell City Clerk
PO Box 1997
Kalispell, MT 59903
COUNT"
SUBDIVISION IMPROVEMENT AGREEMENT
THIS AGREEMENT, made and entered into this _ � _ day of
___ ___, 2005, by and between the CITY COUNCIL, CITY OF
ISPELL, MONTANA, Flathead County, Montana, Party of the First Part and
hereinafter referred to as the CITY, and Andrew and Tricia Silvers, located at 2665
Farm to Market Road, Kalispell, Montana, 59901, 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
"COTTONWOOD PARK", located in Section 2, T28N, R22W, PM,M, Flathead
County and,
WHEREAS, the city has conditioned it's approval of the final plat of
"COTTONWOOD PARK", 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 $89,312.00.
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 $111,640.00. 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 $111,640.00, the estimated
cost of completing the required improvements in "COTTONWOOD PARK".
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 DULY 31, 2006.
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 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 ear here*" ore w '
L. SI
STATE OF MONTANA
)SS
COUNTY OF Flathead 1
On this day of._✓_, 2005, before me, a Notary Public for the
State of Montana, personally p�red ANDREW H. and TRICIA L. SILVERS,
husband and wife and known to me to be the persons whose names are subscribed to
the foregoing instrument and acknowledged to me that they executed the same.
IN WITNESS WHEREOF, I have here "se ink hand and affixed my Notarial
Se t day and year first above writte
Jams H. Burton' 1 S
No ary Public for the State of Montan -
Re iding at Kalispell, Montana ,�
My'Commission Expires 6/18/2007 ®�
CITY COUNCIL, CITY OF KALISPELL, MONTANA ATTEST:
u
By'—== —------------- -- Bye
y� _y sex. --
20052s5 IU to
ENGINEERS ESTIMATE OF CONSTRUCTION PROGRESS 911512005
Cottonwood Park Subdivision
Flathead County, Montana
City of Kalispell, Montana
Exhibit A
Exhibit B
ITEM
EST. TOTAL
cosT
% COMP
REMAIN
1. Roads
a. Exc and Grade to Subbase
$
57,000
95%
$
2,850
b. Base, Crush Rock
$
31,500
100%
$
-
c. Paving
$
42,336
45%
$
23,285
d. Site Concrete/Lights and
Bases
$
21,000
100%
$
-
e. Curbs/Gutters
$
33,000
100%
$
-
f. Sidewalks
$
42,600
100%
$
-
2. Bike Path
a. Base & Cushion
$
4,295
0%
$
4,295
b. Paving
$
10,192
0%
$
10,192
3. Sewer
a. Manholes & 8" Sewer
$
51,200
100%
$
-
b. Services
$
17,550
100%
$
-
c. Lift Station & F.M.
$
72,000
91%
$
6,480
4. Water
a. 8" Water Mains
$
38,480
100%
$
-
b. 8" Valves
$
8,800
100%
$
-
c. 6" Hydrants w/Valves
$
15,000
100%
$
-
d. Services
$
19,500
100%
$
-
5. Storm Water
a. 8" Mains
$
6,200
100%
$
-
b. Catch Basins
$
4,500
100%
$
-
c. Manholes & Separators
$
13,200
100%
$
-
d. Retention Basins
6. Postal Service
a. Mailboxes & Mounting
$
2,500
0%
$
2,500
7. Si na e
a. Street Signs
$
2,400
100%
$
-
b. Traffic Signs
$
1,600
100%
$
-
8. Landscape
a. Trees
$
14,490
0%
$
14,490
b. Seed & Topsoil
$
8,700
40%
$
5,220
9. Utilities
a. Electric
$
32,402
100%
$
-
b. Gas
$
9,306
100%
$
-
c. Telephone
$
9,707
100%
$
-
d. Cable
$
-
$
_
e. Trench, Conduit &Vaults
$
29,600
100%
$
-
10. Park Improvements
$
20,000
0%
$
20,000
Subtotal
$
619,058
86%
$
89,312
Based on Combined Total: Remaining to Complete
$
89,312
Based on Combined Total:Security Amount Required x 1.25 1
$
111,640