SIA Phase 3SUBDIVISION IMPROVEMENT AGREEMENT
STRATFORD VILLAGE, PHASE 3
THIS AGREEMENT, made and entered into this,lIM__ day of
2004, by and between the CITY COUNCIL, CITY OF KALISPELL, MONTANA,
Party of the First Part and hereinafter referred to as the CITY, and NORMAN
SANDERSON, of APEX 1, LLC, located at 10 E. Roanoke Street #8, Seattle,
Washington 98102, Party of the Second Part and hereinafter referred to as
DEVELOPER:
WITNESSETH:
THAT WHEREAS, the Developer is the owner of a the recorded subdivision
known as "STRATFORD VILLAGE, PHASE 3", located in the West Half of Section
19, T28N, R21W, PM,M, Flathead County and,
WHEREAS, the City has approved the final plat of "STRATFORD VILLAGE,
PHASE 3", upon the conditions as set forth in the Preliminary Plat of the Subdivision
being completed and all improvements, as cited in original "Exhibit A" had not been
completed at that time, and the Developer wishes to amend the bond for the
completion of those remaining improvements set forth in original "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 or
the contractor included herewith as new "Exhibit A", and
WHEREAS, the estimated total cost of construction of said improvements is the
sum of $862,798.20.
NOW THEREFORE, in consideration to reduce said bond 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
$408,712.50. 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 $408,712.50, the estimated cost
of completing the required improvements in "STRATFORD VILLAGE, PHASE 3".
b. That if the Developer fails to complete the specified improvements within the
required period, the creditor will pay 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 JANUARY 15,
2005.
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 have 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
s-�the Parties have hereunto set their hands and seals the
day and year herein befor /1r1tten.
t� w44 ___
STRAFORD VIL A E, PHASE 3
NORMAN SANDERSON
APEX 1, LLC
STATE OF MONTANA )
SS
COUNTY OF Flathead
On this _iA day of _ i t��`a_� 1' - )004, before me, a ivotary Pu dic for the
State of Montana, personally appearec�NORMAN SANDERSON and known to me to
be the Administrator for APEX 1, LLC and whose name is subscribed to the foregoing
instrument and acknowledged to me that he executed the same for said APEX 1, LLC..
IN WITNESS WHEREOF, I have hereun s vkmn and affixed my Notarial
Seal the day and year first above written. %
1n_ J .----- 1k� NOTARIAL
Nota y Public for the State of Montana
Residing at Kalispell, Montana
My'Commission Expires 6/18/2007
MA R, CITY OF KALISPELL
ByV__'
p--
yor
M
ATTEST:
EXHIBIT A
4/15/04
ENGINEERS ESTIMATE OF CONSTRUCTION PROGRESS
PHASE 1 (16 Lots), PHASE H (27 Lots), & Phase III (58 Lots)
STRATFORD VILLAGE SUBDIVISION, KALISPELL, MONTANA
PHASE I
PHASE H
PHASE III
ITEM
EST.
TOTAL
COST
PERCENT
COMP
REMAIN
EST.
TOTAL
COST
PERCENT
COMP
REMAIN
EST.
TOTAL
COST
PERCENT
COMP
REMAIN
1. Roads
a. Exc and Grade to Subbase
68,000.00
100%
-0-
b. Base, Crush Rock
22,568.00
100%
-0-
43,509.00
100%
-0-
54,900.00
62%
20,862.00
c.. Paving
34,020.00
100%
-0-
65,589.00
100%
-0-
80,500.00
-0-
80,500.00
d. Sidewalks
19,809.00
100%
-0-
61,245.00
100%
-0-
74,000.00
-0-
74,000.00
e. Site Concrete / Lights
and Bases
6,000.00
100%
-0-
14,534.00
100%
-0-
18,800.00
43%
10,716.00
e. Curbs
11,600.00
100%
-0-
39,832.00
100%
-0-
54,000.00
-0-
54,000.00
2. Alleys
a. Base, Crush
4,346.00
100%
-0-
9,596.00
100%
-0-
7,900.00
20%
6,320.00
b. Paving
3,370.00
0%
-0-
7,370.00
100%
-0-
8,300.00
-0-
8,300.00
3. Sewer
a. Manholes
12,000.00
100%
-0-
Sewer total:
100%
Sewer total:
20,000.00
100%
-0-
b. 10" Sewer Mains
16,290.00
100%
-0-
45,115.00
100%
-0-
6,300.00
100%
-0-
c. 8 "Sewer Mains
6,440.00
100%
-0-
100%
28,300.00
100%
-0-
d. Services
10,800.00
100%
-0-
100%
49,200.00
100%
-0-
e. Lift Station
78,000.00
84%
12,480.00
4. Water
a. 8" Water Mains
18,176.00
100%
-0-
Water total:
100%
Water total:
43,900.00
100%
-0-
b. 8" Valves
5,600.00
100%
-0-
64,274.00
100%
-0-
5,600.00
100%
-0-
c. 6" Hydrants with valves
9,000.00
100%
-0-
100%
20,500.00
100%
-0-
d. Services
12,000.00
100%
-0-
100%
55,000.00
100%
-0-
5. Storm Water
a. 12" Main
6,630.00
100%
-0-
Storm total:
100%
Storm total:
1,600.00
100%
-0-
b. 10" Main
5,612.00
100%
-0-
17,792.00
100%
-0-
7,200.00
100%
-0-
c. 8" Main
10,304.00
100%
-0-
100%
17,300.00
100%
-0-
d. Catch Basins
8,500.00
100%
-0-
100%
12,800.00
100%
-0-
e. Manholes and Tankage
16,800.00
100%
-0-
100%
18,000.00
100%
-0-
f. Retention Basin
58,646.00
100%
-0-
6. Postal Service
a. Mailboxes and
Mounting
2,500.00
100%
-0-
7. Si na e
a. Street Signs
1,200.00
100%
-0-
3,200.00
100%
-0-
4,700.00
-0-
4,700.00
b. Traffic signs
1,800.00
100%
-0-
4,800.00
100%
-0-
6,000.00
-0-
6,000.00
8. Landscape
a. Trees
10,800.00
100%
-0-
11,300.00
100%
-0-
1 18,200.00
-0-
18,2W.00
b. Seeds and Repair
2,100.00
100%
-0-
2,100.00
100%
-0-
24,600.00
-0-
24,600.00
9. Utilities
a. Electric
22,000.00
100%
-0-
37,537.00
100%
-0-
50,287.00
100%
-0-
b. Gas
ll,000.00
100%
-0-
18,538.00
100%
-0-
16,211.25
100%
-0-
c. Telephone
14,000.00
100%
-0-
13,912.00
100%
-0-
18,299.95
100%
-0-
d. Cable
3,000.00
100%
-0-
4,000.00
100%
-0-
6,000.00
100%
-0-
e. Trench,Conduit.,Vaults
40,289.00
100%
-0-
48,400.00
87%
6292.00
Subtotal
310,365.00
100%
-0-
506,632.00
100%
-0-
981,444.20
326,970.00
PHASE I: Security Amount Required
-0-
PHASE II: Security Amount Required
-0-
PHASE III: Security Amount Required(1.25)
326,970.00
408,712.50