SIA dated 11/14/06 (Recorded)20067,Z4a 16�VD
Return to: J
Theresa White
Kalispell City Clerk' P �
P.O. Box 1997
Kalispell, MT 59903 3
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THIS AGREEMENT, made and entered into this 4 h day of � t��� , 200 G , by and
between the CITY COUNCIL, CITY OF KALISPELL, MONTANA, Party of the First Part and hereinafter
referred to as the CITY, and Kent Clausen, KVC Development, located at 8923 East Mission, Suite 135
Spokane, WA 99212, Party of the Second Part and hereinafter referred to as DEVELOPER.
WITNESSETH:
€ THAT WHEREAS, the Developer is the developer of a new subdivision known as Holiday Inn Express
Subdivision, located at in the NE'/4 Section 36, T 28N, R 22W, Flathead County, Montana and,
WHEREAS, the City has conditioned it's approval of the final plat of Holiday Inn Express Subdivision,
upon the conditions as set forth in the Preliminary Plat of the Subdivision being completed and all 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 $148,880.00.
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 $186,100.00. 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 $186,100.00 the estimated cost of completing the required
improvements in Holiday Inn Express.
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;
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2. That said required improvements shall be fully completed by November 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.
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IN WITNESS WHE F, the Parties have hereunto set their hands and seals the day and year
herein b or
Kent C ausen
STATE OF MONTANA )
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County of Flathead
This instrument was acknowledged before me on � .1t , 200 9,
by Kent Clausen.
TRiNA MANOR Printed Name 'Ywvc� ,2
Notary Public, State of Nevada Notary Public for the State of-Men4ana t4e*PA.,
Appohment No. 98371051 Residing at -goo jq.
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0' - , . ". --l"t"111.111,11P11"Ir- My Commission Expires t L. y. Ua
R, CITY OF KALISPELL ATTEST:
I
EXHIBIT A
Conditions of approval as fixed to the preliminary plat by the City
Council, Kalispell, Montana.
EXHIBIT B
This agreement specifically includes the following improvements, their projected construction completion
date and estimated construction costs.
CHECK
CONSTRUCTION
ESTIMATED
PERCENTAGE
APPROPRIATE
COMPLETION
CONSTRUCTION
COMPLETE
IMPROVEMENTS
DATE
COSTS
Street Grading/Paving
November 2007
$62,450.00
-0-
Sidewalks
November 2007
$12,384.00
-0-
Curbs and Gutters
November 2007
$9,876.00
-0-
Sanitary Sewers
November 2007
$27,960.00
-0-
Mains
Water Systems
November 2007
$27,960.00
Mains
Boulevard trees / landscaping
November 2007
$ 8,250.00
-0-
SUBTOTAL
$148,880.00
FEES
TOTALS COSTS
$148,880.00
TOTAL COLLATERAL (TOTALS COSTS X 125%)
$186,100.00
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PITMAN
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