SIA Phase 1 (Recorded)2006125 C)qol Y'-
Return to:
Theresa White ada00
Kalispell City Clerk
P.O. Box 1997
Kalispell, MT 59903
APPENDIX E
SUBDIVISION IMPROVEMENT AGREEMENT
THIS AGREEMENT, made and entered into this / 5�-- day o 2006, by and between the
CITY COUNCIL, CITY OF KALISPILL, MONTANA, Party i� 'V) f the FV fia—ri and hereinafter referred to
as the CITY, and Hutton Ranch Plaza Associates, LLC., a Com an
(Nairic of Developer) (individual, Company or Corporation)
located at 4 Sunset Plaza, Suite 201, Kalis, - —J1JLLaLh -ggd.. Montana, Party of the Second Part
(Street Address/P. O. Box) (City, County, state, Zip)
and hereinafter referred to as DEVELOPER.
WITNESSETH:
THAT WHEREAS, the Developer is the owner and developer of a new subdivision known as
Hutton Ranch Plaza Phase 1. located at, 135 Hutton Ranch Rd, Kalispell, MT 59901
(Location of Subdi,vision) (Name of Subdivision)
hereinafter known as The Project, and
WHEREAS, the City has conditioned it's approval, of the final plat of Flutton Ranch Plaza Phase 1, upon
(Nanie of Subdivision)
satisfaction of conditions as set forth in the Development Agreement between the City and Developer as
well as improvements in the Project. The Public Improvements have not been completed at this time,
and the Developer wishes to bond for the completion of those improvements set forth in the
Development Agreement between the City and the Developer.
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
13
estimate prepared by licensed public engineer included herewith as "Exhibit A" ; and
WHEREAS, the estimated total cost of construction of said remaining public improvements is tile sum of
$ 1,843,100.00.
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, in the amount of $2,303,875.00. 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 $2,303,875.00 the estimated cost of
completing the required improvements in Hutton Ranch Plaza Phase 1.
(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 May 31., 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 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. seats the day and year herein
before written.
(Name/6f SubAivi
by
4,
(Title)
STATE O � MONTANA
�6UN, or, jE)e-Af)
-"1 7 4-�-)
this -, 20LL6�.,before me, a Notary Public for the State
-t clay of ja f)A:,- �t
of Montana, personally appeared PHf LX_j!jjf' )-ZLES- -jJ___ known to me to be the
P#R FDi- of whose name is subscribed to
the -foregoing instrument and acknowledged to me that he/she executed the same.
IN WITNESS IJER�OF h e hereunto set my hand and affixed my Notarial Seal this day and year
first above w , A - T
AR/,q�
NfotaryTublic for the State of Montana
Residing at lo
My Commission Expires j a Ir—Ici
AYOR, ITY OF KALISPELL
MICHAEL RATZBURG
ATTEST: NOTARY PUBLIC-MONTANA
Residing at Kalispell, Montana
MV Co7n. Expires December 9, 2007
CITY CLERK
EXHIBIT A
This agreement specifically includes the following improvements, their projected construction completion date and
estimated construction costs.
CHECK
CONSTRUCTION
ESTIMATED
PERCENTAGE
APPROPRIATE
COMPLETION
CONSTRUCTION
COMPLETE
IMPORVEMENTS
DATE
COSTS
Street Grading/Paving'
X
Street Base'
X
Sidewalks
X
1-Sep-2006
$277,000.00
0%
Curbs and Gutters'
X
Sanitary Sewers
Mains
X
1-Sep-2006
$235,100.00
24%
Other( )
On -Site Sewage
Facilities
Water Systems
Mains
X
1-Sep-2006
$22,500.00
90%
Fire hydrants
X
On -Site Water Supply
Water Storage Tanks
Storm Sewer or
X
1-Sep-2006
$849,500.00
0%
Drainage Facilities
Street Signs
X
1-Sep-2006
$10,000.00
0%
Street Lighting
X
1-Sep-2006
$97,000.00
0%
Street Monuments
Survey Monument Boxes
Landscaping/ Boulevard
trees`
X
30-Oct-2006
$89,000.00
0%
Other( )
SUBTOTAL $1,580,100.00
FEES $263,000.00
TOTAL COSTS $1,843,100.0(
TOTAL COLLATERAL (TOTALS COSTS X 125%) $2,303,875.0(
` Includes Hutton Ranch Road and Highway 93 Access Improvements