SIA dated 05/01/06 (Recorded)T -- "
w .
_ PAGES e," _ swx_
Return to: PAULA POBIN5 N? F1 AT H EA 0 C,tJ;NI'V MO i ANA
Theresa White
Kalispell City Cleric
P.O. Box 1997
Kalispell, MT 59903
t ,
APPENDIX E
SUBDIVISION IMPROVEMENT AGREEMENT
THIS AGREEMENT, made and entered into this 44Mi day of 2006, by and between the CITY
COUNCIL, CITY OF KALISPELL, MONTANA, Party of the First Part and hereinafter referred to as the
CITY, and 100 Financial Drive, LLC, a Limited Liability Company (Individual, Company or
Corporation) located at, 100 Financial Drive, Suite 300, Kalispell, Montana 59901
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 THE
AMENDED PLAT LOT 1 OF THE AMENDED PLAT OF A PORTION OF GATEWAY WEST
ADDITION NO. 34 located at SEl/4, Section 12, T 28N, R 22W, Flathead County, Montana
and,
WHEREAS, the City has conditioned it's approval of the final plat of Lot 1 of Amended Plat of a
portion of Gateway West Addition #34, 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
i "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 $6,750.00.
NOW THEREFORE, in consideration of the approval of the final plat of said Subdivision by the City,
the Developer hereby agrees as follows:
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 $8,437.50. 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 $8,437.50, 125% of the estimated cost of
completing the required improvements in Amended Plat of Lot 1 of the Amended Plat of a
Portion of Gateway West Addition #34 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 April 10, 2007.
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 1Criows 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.
IT IS ! AGREED BY AND BETWEEN THE PARTIES HERETO AS FOLLOWS,
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.
20OG13GD'11-�g 0
STATE OFC--
COUNTY OF
day of I\ I I On this'\Q)®a 2qLLD, N,,,fore me, a Notary Public for the State
-� b--\::�)� —
of mottara, Personally appeared U<—\ — known to me to be the ; dent of
100 'Financial Drive LLC,, whom name is subscribed to the foregoing ins and acknowledged to
me that he/she executed the same.
-
TN WI SS WHEREOF, T have herounto net my handd
.,a"
and year first above written
'0
TARZAL
Notary Public for the State of N
Residing
0 ......
o
My Commission Ex iron:
MAYOR, CrTY OF K ALISPELL ATTESjj
ME=
304toton improvements A gnummi - A memdaplai et( L4/ q(lh a Ym&�jidudplot of a poW(711 e?f6didulay Wal A ddalon #34
sumi,j4pion, Kati.ypaw. mr I'age 4 of 3 411012006
EXHIBIT A
Conditions of approval as fixed
to the preliminary plat by the City Council, Kalispell, Montana.
EXHIBIT B
This agreement specifically includes the following improvements,
their projected construction completion date and
estimated construction costs.
CHECK
CONSTRUCTION
ESTIMATED
PERCENTAGE
APPROPRIATE
COMPLETION
CONSTRUCTION
COMPLETE
IMPROVEMENTS
DATE
COSTS
Mail Box
4/10/2007
$2,000.00
0%
Seeding
4/10/2007
$1,000.00
0%
Trees
4/10/2007
$3,000.00
0%
Signs
4/10/2007
$ 750.00
100%
SUBTOTAL $6,750.00
FEES
TOTALS COSTS$6,750.00
TOTAL COLLATERAL (TOTALS COSTS X 125%)$8,437.50