SIA (undated) (Recorded)2 9 0 4 �3 2 3 11 f 7 r-;
Appendix - Page A-23
THIS AGREEMENT, made and entered into this day of
19, by and between the CITY COUNCIL, CITY OF KALISPELL, MONTANA, Party of the
First __—Part and ® hereinafter referred to as the CITY, and
® (Nam; of Developer)
aN je4 ID I V I
(Individual, Company or Corporatiop)
located at 9ZV
(Street Address/P. O. Box) (City, County, State,
Party of the Second Part and hereinafter referred to as DEVELOPER.
k)
WITNESSETH:
THAT V
r4
known as —77;
(Name of Si
located at jA
(Location of
and,
the Developer is the owner and developer of a new subdivision
vision)
the City has conditioned its
approval of the final plat of
_, 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 13";
and
WHEREAS, the estimated total cost of construction of said improvements is the sum of
$
NOW THEREFORE, in consideration of the approval of the final plat of said Subdivision
by the City, the Developer hereby agrees as follows:
I. 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
$ 199 1 zes-6 . 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:
I
,,,004323
Page A-24 - Appendix
a. That the creditor guarantees funds in the sum of $
the estimated cost of completing the required amp ovements in
(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
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.
2004 3323 11170
Appendix - Page A-25
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.
STATE OF MONT
COUNTY OF
�aa
On this _ day of (_ ,M , before me, a Notary Public
for the State of Montana, personally appeared I I M D THy 2 - /Sl P-1< , 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.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my Notarial Seal this
day and year first above written.
NOTAW Pu81rOMOlf "
ReaWq it Ka%p* MMWAM
Notary Public for the State of Montanaa
Residing at 1�, if l-1 S l' E7� my "=4*w l D -
My Commission Expires tO -d (- - 07
Y , CITY OF KALISPEL ATTEST:
MAYOR FINANCE DIRECTOR (Cv1d�d/c�
20043' r7o 0 N "FA,
W EXHIBr
COLLATERAL CALCULATION FOR THREEMILE SUBDIVISION
This agreement specifically includes the following improvements, their projected
construction completion date and estimated construction costs. 0 PE
CHECK CONSTRUCTION ESTIMATED /01VAL
APPROPRIATE COMPLETION CONSTRUCTION
IMPROVEMENTS BOX DATE COSTS
Street Grading/Paving
$58,94T00
Street Base
COMPLETE
7/4/2004
Sidewalks
$61,965.00
Curbs and Gutters
COMPLETE
8/l/2004
Sanitary Sewers
Mains
COMPLETE
7/4/2004
Other
COMPLETE
7/4/2004
On -Site Sewage
NA
Facilities
Water Systems
Mains
COMPLETE
7/4/2004
Other
COMPLETE
7/4/2004
On -Site Water Supply
NA
Water Storage Tanks
NA
Fire Hydrants
COMPLETE
7/4/2004
Storm Sewer or
Drainage Facilities
COMPLETE
7/4/2004
Street Signs
$650.00
Street Lighting
PAID
Street Monuments
NA
Survey Monument Boxes
COMPLETE
8/4/2004
Landscaping
$24,700,00
Other (BIKE PATH)
$6,032.00
SUBTOTAL $152,294.00
FEES $3,020.00
TOTAL COSTS $155,314.00
TOTAL COLLATERAL (TOTAL COSTS X 125%) $194,14150
Sincerely,,,
J"X'- ;R-47-,'EAD) &5
FLI M �Iq e7l=- Z"IMIRa's a FL-10 Of ACWTANA. Ar
PAIM
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