SIA dated 04/10/06Return to:
Theresa White
Kalispell City Clerk
P.O. Box 1997
Kalispell, MT 59903
APPENDIX E
SUBDIVISION IMPROVEMENT AGREEMENT
THIS AGREEMENT, made and entered into this loth day of April, 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 SE1/4, 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
"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:
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That the Nveloper shall PrOide for inspoction of all required improvements by a reesterml
professioal engincer before the DevelaW shall he released from the Subdivision Improve rmnt
That if the City dettrmines that any impmvements not constructed in compliance with the
suffloient to m8we such compliance. If the City determines ftt the Nvolopor will not construct any or
all of the Invmvcm.ents in accordance with the specificati(mo, or within the roquircd timc limits, it May
withdraw the collateral azd env-loy such funds as rnay be necessary to cortmuct tho improvement or
improvemmts in accorda-mce with the "cifications. The unused Pordons of the collatral sbaLl be
returned to the Developer or the 4Tadi3ing institution, as is appropriate.
Subdivision Impr6mmenu Agreomw - 4mendOdplat of Lot I elh# Amended plat of a portion of Gateway Ww;Add Ihm #34
Subdivision, Kaftspell, UT POP 3 Of 5 411012006
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 $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 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 fled 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.
STATE OF MONTANA
COUNTY OF r—\,, '
On this day of �'�� , 20 OD , before me, a Notary Public for
the State of Montana, personally appeared ` , known to me to be
the of � ��whose name is subscribed
to the foregoing instrument a d acknowledged to me that he/she executed the same.
IN WITNESS WHEREOF, I have hereunto set my hand and aff "` ofari �,eal this day
and year first above written. ``�
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Notary Public for the State of Montana
Residing at
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MAYOR, CITY OF KALISPELL ATTEST:
MAYOR CITY CLERK