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E'INSON RAT HEAD COUN7 J7AA701X,'U
SUBDIVISION IMPROVEMENT AGREEMENT
THIS AGREEMENT, made and entered into this day of tar , —
20 06, by and between the CITY COUNCIL, CITY OF KALISPELL, MONTANA, Party of the
First Part and hereinafter referred to as the CITY, and
GRANARY RIDGE INC. ,
(Name of Developer)
a INCORPORATED
(Individual, Company or Corporation)
located at 8-1 T STREET E. SUITE 204, KALISPELL, MT. 59901 ,
(Street Address/P. O. Box) (City, County, State, Zip)
Parry 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 GRANARY RIDGE SUBDIVISION
(Name of Subdivision)
located at ASSESSOR'S TRACT 5C, LOCATED IN SOUTHWEST QUARTER
SECTION 32, TOWNSHIP 29 NORTH, RANGE 21 WEST, P.M.M., FLATEHEAD
COUNTY, MONTANA. ,
(Location of Subdivision)
and,
WHEREAS, the City has conditioned it's approval of the final plat of
GRANARY RIDGE SUBDIVISION , 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
$ 98 890.09
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
$ 123,612.62 . Said Letter of Credit or other collateral shall have an expiration
Granary Ridge Subdivision
Subdivision Improvement Agreement
Page 1 of 3
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 $ 123,612.62 ,
the estimated cost of completing the required improvements in
GRANARY RIDGE SUBDIVISION
(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 JULY, 18 ,
20 07
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 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.
Granary Ridge Subdivision
Subdivision Improvement Agreement
Page 2 of 3
200(;058 1 A 0-)0
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.
GRANARY RIDGE SUBDIVISION / GRANARY RIDGE INC ,
(Name of Subdivision/Developer/Finn)
by��o s �kt. -
(Title)
STATE OF MONTANA
COUNTY OF 17/� 4 A eya b
On this day of y_va rL , 20D_(,2 , before me, a Notary Public
for the State of ontana, personally appeared - �o to q S �'C�I r r� own to
\�ranAn ���-QS C_
me to be the �F s �p per, %� of _� /z iDCv& wi �o�,, ose y
name is subscribed to the foregoing instrument and acknow edged to me that he/she executed 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 54ate of Montana
Residing at oC L�
My Commission Expires
AY R, CITY OF KALISPELL
MAYOR
Granary Ridge Subdivision
Subdivision Improvement Agreement
Page 3 of 3
EXHIBIT "B"
GRANARY RIDGE SUBDIVISION
SUBDIVISION ROADS & OVERLOT GRADE
COMPLETED TO DATE
December 16, 2005
Item
No.
Description
Unit
Measure
Estimated
Quantity
Unit Price
Total Price
QUANTITY
COMPLETED
TOTAL COST
COMPLETED
101
Topsoil Removal/Replacement
C.Y.
1685
$ 3.50
$ 5,897.50
843
$2 948.75
102
Excavation / Subgrade Pre lOverlot
C.Y.
3,019
$ 3.50
$ 10 566.50
510
$1 783.25
103
Stabilization Fabric
S.Y.
2,260
$ 1.15
$ 2,599.00
2,260
$2 699.00
104
1 Select Subbase
C.Y.
587
$ 13.00
$ 7,631.00
587
$7 631.00
105
3/4" Crushed Gravel
C.Y.
368
$ 20.00
$ 7,360.00
0
$0.00
106
4" Ash attic Cement
S.Y.
2,132
$ 11.79
$ 25 136.28
0
$0.00
107
Curb & Gutter
L.F.
1,320
$ 10.50
$ 13 860.00
0
$0.00
108
5' x 4" Concrete Sidewalks / Gravel
S.F.
2,105
$ 4.00
$ 8 420.00
0
$0.00
SUBTOTAL ITEMS 101-108
$ 81,470.28
1 $14,962.00
WATER SYSTEM
COMPLETED TO DATE
December 16, 2005
Item
No.
Description
Unit
Measure
Estimated
Quantity
Unit Price
Total Price
QUANTITY
COMPLETED
TOTAL COST
COMPLETED
201
8" Water Main
L.F.
642
$ 22.00
$ 14124.00
642
$14 124.00
202
12" Sleeve & 8" Tapping Valve
EACH
1
$ 2,300.00
$ 2,300.00
1
$2 300.00
203
8" Gate Valves & Boxes
EACH
1
$ 1,236.00
$ 1,236.00
1
$1 236.00
204
8" Ductile Iron Fittings
EACH
5
$ 275.00
$ 1,375.00
5
$1 375.00
205
Fire Hydrants w/ Tee Pie Aux. Valve & Box
EACH
3
$ 3,232.00
$ 9,696.00
3
$9 696.00
206
Water Services
EACH
16
$ 688.50
$ 11016.00
16
$11016.00
207
2" Irrigation Pit/Service
EACH
1
$ 1,481.00
$ 1,481.00
1
$1 481.00
208
Irrigation Sleeves
L.F.
535
$ 3.85
$ 2,059.75
535
$2 059.75
SUBTOTAL ITEMS 201 - 208
1
1 $ 39,747.00
$39,747.00
SEWER SYSTEM
COMPLETED TO DATE
December 16, 2005
Item
No.
Description
Unit
Measure
Estimated
Quantity
Unit Price
Total Price
QUANTITY
COMPLETED
TOTAL COST
I COMPLETED
301
2" Force Main
L.F.
703
$ 20.97
$ 14 741.91
703
$14 741.91
302
4' Diam. Cleanout
EACH
1
$ 1,575.00
$ 1,575.00
1
$1 575.00
303
1 1/4" Sewer Service Lines
EACH
16
$ 934.00
$ 14 944.00
16
$14 944.00
SUBTOTAL ITEMS 301 - 303
1 1
$ 31,260.91
$31,260.91
DRAINAGE & MISCELLANEOUS WORK
COMPLETED TO DATE
December 16, 2005
Item
No.
Description
Unit
Measure
Estimated
Quantity
Unit Price
Total Price
QUANTITY
COMPLETED
TOTAL COST
COMPLETED
401
12" PVC Storm Drain
L.F.
120
$ 25.00
$ 3,000.00
120
$3 000.00
402
8" PVC Storm Drain W/ Outlet Protection
L.F.
180
$ 24.00
$ 4,320.00
180
$4 320.00
403
6" ADS N-12 W/ Outlet Protection
L.F.
132
$ 22.00
$ 2,904.00
132
$2 904.00
404
4" ADS N-12 with fittings
L.F.
430
$ 17.00
$ 7,310.00
430
$7 310.00
405
Catch Basin w/ Inlet
EACH
4
$ 860.00
$ 3,400.00
4
$3 400.00
406
Pond Outlet Structure
EACH
1
$ 2,076.00
$ 2,075.00
1
$2 075.00
407
Silt Fence
LF
560
$ 3.75
$ 2,100.00
560
$2 100.00
408
Detention Swale
LS.
1
$ 1,950.00
$ 1,950.00
0
$0.00
409
Landscaping
LS.
1
$ 21150.00
$ 21150.00
0
$0.00
410
Traffic Control
LS.
1
$ 1,600.00
$ 1,500.00
1
$1 600.00
411
Road Crossing/ Material Replacement (Pavement,
Base, & Subbase)/ Permitting, for 3 Utility
LS.
1
$ 9,282.00
$ 9,282.00
1
$9,282.00
412
Demo Site
LS.
1
$ 600.00
$ 600.00
1
$600.00
413
CBU Mailboxes
EA.
1
$ 1,298.00
$ 1 298.00
0
$0.00
414
OPL Mailboxes
EA.
1
$ 1,298.00
$ 1,298.00
0
$0.00
415
Pedestrian Crosswalk Striping and Si na a
EA.
1
$ 1 000.00
$ 1,000.00
0
$0.00
416
Mobilization
LS.
1
$ 500.00
$ 600.00
0.5
$250.00
417
Construction Surveying
LS.
1
$ 6,600.00
$ 6,600.00
0.61
$3 300.00
SUBTOTAL ITEMS 401 - 416
$ 70,287.00
1
$40,041.00
UTILITIES - TRENCHING, CONDUIT, VAULTS & LIGHTS
COMPLETED TO DATE
December 16, 2005
Item
No.
Description
Unit
Measure
Estimated
QuantitV
Unit Price
Total Price
QUANTITY
COMPLETED
TOTAL COST
COMPLETED
501
Utility Trench w/ Bedding
L.F.
820
$ 2.75
$ 2,255.00
820
$2 265.00
502
2" Conduit w/ Pull Roe
L.F.
1,640
$ 2.10
$ 3,444.00
1,640
$3 444.00
503
3" Conduit w/ Pull Roe
L.F.
820
$ 3.15
$ 2,583.00
820
$2 583.00
504
4" Conduit w/ Pull Roe
L.F.
410
$ 3.75
$ 1,537.50
410
$1 537.50
505
4" and 3" Sweeps
EACH
50
$ 64.00
$ 3,200.00
50
$3 200.00
506
1 Phase Transformer Vault
EACH
4
$ 660.00
$ 2,640.00
4
$2 640.00
507
3 Phase Transformer Vault
EACH
1
$ 935.00
$ 935.00
1
$935.00
508
Secondary Pedestals
EACH
8
$ 75.00
$ 600.00
8
$600.00
509
Street Light Bases
EACH
8
$ 500.00
$ 4,000.00
8
$4 000.00
510
1 1/2" Li ht Base Conduit
L.F.
768.0
$ 2.00
$ 1,636.00
768.0
$1 536.00
1 1/2" Sweeps
EACH
5
$ 64.00
$ 320.00
5
$320.00
E5"
512
Si na a Installation
LUMP SUM
1.0
$ 600.00
$ 600.00
1.0
$600.00
SUBTOTAL ITEMS 501-512
$ 22,730.50
$22,730.50
Total Construction Costs
$ 245,495.69 $ 148,741.41
SERVICE COSTS, FEES, ENGINEERING & SURVEYING
COMPLETED TO DATE
December 16, 2005
Item
No.
Description
Unit
Measure
Estimated
Quantity
Unit Price
Total Price
QUANTITY
COMPLETED
TOTAL COST
COMPLETED
601
Flathead Electric
LUMP SUM
1
$ 9,429.00
$ 9,429.00
1
$9,429.00
602
Northwest Energy
LUMP SUM
1
$ 6,250.00
$ 6,250.00
1
$6 250.00
603
Centurytel
LUMP SUM
1
$ 9 395.75
$ 9,395.75
1
$9 395.75
604
En ineerin Design
LUMP SUM
1
$ 14 729.74
$ 14,7
1
$14 729.74
605
En ineerin Construction
LUMP SUM
1
$ 7 364.87
$ 7 364.87
0.71
$5 229.06
SUBTOTAL ITEMS 601 - 605
47, 6
445,U33.55
TOTAL PROJECT BUDGET
TOTAL ESTIMATED COST OF CONSTRUCTION
AMOUNT COMPLETED PRIOR TO BONDING
AMOUNT OF REMAINING WORK PRIOR TO BONDING
AMOUNT OF BOND (125% OF REMAINING WORK)
AMOUNT OF WORK COMPLETED TO DATE
PERCENTAGE OF WORK COMPLETED TO DATE
AMOUNT OF WORK REMAINING
ORIGINAL BOND AMOUNT
AMOUNT OF BOND TO BE RETAINED (125% OF REMAINING WORK)
BOND AMOUNT TO BE RELEASED
AMOUNT PREVIOUSLY RELEASED
AMOUNT TO BE RELEASED AT THIS TIME
AS PROJECT ENGINEER FOR GRANARY RIDGE SUBDIVISION, I CERTIFY THAT THE
WORK LISTED HEREIN IS CORRECT. IN ADDITION, I CERTIFY THAT THE ASSOCIATED COSTS
ARE REASONABLY ACCURATE ESTIMATES OF THE RESPECTIVE COSTS OF THE WORK. THE
VALUE OF CONSTRUCTION AND OTHER WORK COMPLETED TO DATE IS ESTIMATED TO BE:
THE TOTAL VALUE OF REMAINING WORK, SERVICES AND FEES IS ESTIMATED TO BE:
SECURITY HELD AT 125% OF THE REMAINING COSTS SHOULD BE IN THE AMOUNT OF:
THEREFORE, IT IS IN ACCORDANCE WITH THE SUBDIVISION IMPROVEMENTS AGREEMENT
TO REDUCE THE TOTAL AMOUNT OF THE SECURITY HELD BY:
$ 292,665.05 $ 193,774.96
$ 292,665.06
$ 193,774.96
$ 98,890.09
$ 123,612.62
193,774.96
66
98,890.09
$ 123,612.62
$ 123,612.62
$0.00
$0.00
$0.00
193,774.96
98,890.09
123,612.62
BRETT WALCHECK. P.E. *ALL IMPROVEMENTS SHALL BE COMPLETED BY:
HEARING DATE
DATE
$0.00
7/18/2007
1 /17/2006
9/1612007