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SIATHIS AGREEMENT, made and enterecl into this I O'h day of November, 2003, by and between the CITY OF KALISPELL of Flathead County, Montana, Party of the First Part and hereinafter refereed to as th* CITY, and JERRY & LAVERNE SCOTT (Name of Developer) :l (Individual, Company or Corporation) located at 10 SOUTH MERIDIAN KALISPELL, MT 59901 (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 J & L SUBDIVISION (Name of Subdivision) located at 30 & 33 MERIDIAN (Location of Subdivision) and, WHEREAS, the City has conditioned it's approval of the final plat of J & L SUBDIVISION, upon the conditions as set forth (Name of Subdivision) in the Resolution 468 11 'being completed and ail improvements, as cited in EXHIBI TI B have not been completed at this time, and the Developer wishes to bond for the completion of those improvements set forth in EXHIBIT B; 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 i.wi-crovements as evidenced bv an estimate DreDared bv a license Dub -tic engineer incjg�g� herewith as "Exhibit B"; and WHEREAS, the estimated totai cost of construct -ion ot said improvements is the sum of $10,950.00. 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 Kalispell City Council, in the amount ol'$13,687.50. Said Letter oft—redit or other collateral shall hav� an expiration date of at least sixty (60) days following the date set for completion of the improvements, certifying the following: a. That the creditor guarantees funds in the sum of$* 13,687.50 the estimated cost of completing the required improvements in J & L 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 for those improvements up to the limited of credit stated in the letter; 2. That said required improvements shall be fully completed by AUGUST 1, 2004 3. That upon completion of the required improvements, the Developer shall cause to be filed with the City a statement certifying that: - Mm 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 the final plans, profiles, grades and specifications of said improvements, with the certification of the registered professional engineer responsible for !heir preparation that all required improvements have been installed in conformance with said specifications. 1TIS ALSO AGREED BY AND BETWEEN THE PARXIES 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. 2 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 sure 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 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. J & L SUBDIVISION (Name of Subdivision/Developer/Firm) by erry cott, Owner r by �1 — Laverne Scott, Owner STATE OF MONTANA COUNTY OF t -� A e1q On this -4LAt day of e before me, allotary Public for the State of Montana, personally appeared Z:Tege,�,,L L 5,6 -�6 Known to me to be the of Whose name is subscribed to the foregoing instrument and acknowledged to me that he/she executed the same. INWITNESS W 9REOF, I have hereunto set my hand and affixed my Notarial eal this day 'd year first above written. Notary Publij for/ the State of Montana Residing at My Commission Expires 0 finis agreement speciitcaliy includes the following improvements, their projected construction completion date and estimated construction costs. CHECK CONSTRUCTION ESTIMATED APPROPRIATE COMPLETION CONSTRUCTION IMPROVEMENTS BOX DATE COSTS Street GradingRavinR X COMPLETED Street Base X COMPLETED Sidewalks X 08/01/04 $9,2.50,00 Curbs and Gutters X COMPLETED Sanitary Sewers Mains X COMPLETED Other ( } On -Site Sewage Facilities X COMPLETED Water Systems Mains X COMPLETED Other ( } On -Site Water Supply Water Storage Tanks Fire Hydrants X COMPLETED Storm Sewer or Drainage Facilities X COMPLETED Street Signs Street Liphtin¢ Street Monuments Survey Monument Boxes Landscaping $1500.00 Other( X) maii boxes $200.00 SUBTOTAL $10,950.00 FEES TOTAL COSTS TOTAL COLLATERAL (TOTAL COSTS X 125%) $13,687.50 F THE CITY OF KALISPELL m�. ATTEST: _ s: F-sy: City Clerk Conditions of approval as fixed to the preliminary plat by the City of Kalispell. Preliminary Plat Conditions of Approval for Scott Addition 331 as Set Forth in Resolution 4811 That the development of the site will be in substantial conformance with the approved preliminary plat which shall govern the general location of the lots and accesses. 2. That all improvements for the subdivision shall be designed and constructed in compliance with the City of Kalispell's Design and Construction Standards. Certification from an engineer licensed in the state of Montana shall be submitted with the final plat stating that all of the improvements have been constructed accordingly. 3. That approval of the water and sewer facilities for the subdivision shall be obtained from the Montana Department of Environmental Quality. 4. That a letter from the Kalispell Public Works Department shall be obtained which states that the proposed plans and specifications of all improvements including sewer facilities, road paving, curbs, gutters, sidewalks, landscaping and drainage systems have been reviewed and approved in accordance with Kalispell's Design and Construction Standards and have been constructed accordingly. 5. That a common mail facility be located for the subdivision and be approved by the local postmaster. 6. That the fire access and suppression system including the number and location of fire hydrants within the subdivision be reviewed and approved by the City of Kalispell Fire Department for compliance with the Uniform Fire Code. 7. That any areas disturbed during construction be revegetated with a weed -free mix in accordance with a plan approved by the Kalispell Parks and Recreations Department. 8. That the preliminary plat shall be valid for a period of three years from the date of its approval.