SIA Phase 15THIS AGREEMENT, made and entered into this 7 L5 day of OCfb 0 er 20�� by and between the CITY
COUNCIL, CITY OF KALISPELL, MONTANA, Party of the First Part and hereinafter referred to as the CITY and MARK
OWENS OF OWL CO RATION, located at 500PALMERDRWE,KALISPELLMT59901, Party of the Second Part
and hereinafter referred to as DEVELOPER
SSETR:
THAT WHEREAS, the Developer is the owner and developer of a new subdivision known as FLATHEAD
VILLAGE GREENS PHASE 15, located at WEST PALMER and,
WHEREAS, the City has conditioned its approval of the final plat of FILATHEAD VIUAGE GREENS PHASES
14-22 , upon the conditions as set forth 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 B"; and
WHEREAS, the estimated total cost of construction of said improvements is the sum of $ 4800.00
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 of $ 6000.00 . 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 guaranteed funds in the sum of $ 6000.00 the estimated cost of completing the
required improvements in FIATHEAD VILLAGE GREENS PHASE 15
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 AJNE 1 2004
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,
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 to the
best of his knowledge, improvements have been installed in general conformance with said specifications.
rr IS ALSO AGREED BY AND BETWEEN THE PARTTES HERETO AS FOLLOWS,
TO-Wrr:
That the Developer, upon request 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 WffNESS WHEREOF, the Parties have hereunto set their hands and seals the day and year herein before written.
FTATHEAD VH.LAGE GREENS, PHASE 15, MARK OWENS OF OWL CORPORATTON
(Name of subdivision/Developer/Finn)
by: 9
(Title)
The subdivider shall warrant the design, construction materials and workmanship of the improvements against any failure
or defect in design, construction, material or workmanship which is discovered no more than one (1) year from the date of
acceptance ,
day of �74'1z—
On zu --19— me, a � Public for the State of Montana, personally
this '�A'
api Z Xz�,dq known to me to be the a-�Zz--j lwhose name is subscribed to the
foregoing ent and acknowledged to me that he executed the same. /
IN 7SS WHEREOF, have here
Notary(PtMc fb,rfii'e S* of Montana
Residing
My Commission Expires :2
MAYOR, CITY OF KALISPELL
MAYore
®
set my hand and axed Ned my Notary Seal this chr�ft jeft4ik ;p written.
4�-- X0 A,914,4
sNAL.,
OF
ATTEST:
TBERSEA VfiVM
CITY CL�R�,
Page A-26 - Appendix
EXHIBIT A
Conditions of approval as fixed to the preliminary plat by the City Council, Kalispell, Montana.
This agreement specifically includes the following improvements, their projected
construction completion date and estimated construction costs.
CHECK CONSTRUCTION ESTIMATED
APPROPRIATE COMPLETION
CONSTRUCTION
IMPROVEMENTS BOX
Street Grading/Paving
Street Base
Sidewalks
Curbs and Gutters
Sanitary Sewers
Mains
Other ( )
On -Site Sewage
Facilities
Water Systems
Mains
Other { )
On -Site Water Supply
Water Storage Tanks
Fire Hydrants
Storm Sewer or
Drainage Facilities
Street Signs
Street Liehtine
Street Monuments
Survey Monument Boxes
Landscaping
Other ( )
4
TOTAL COLLATERAL (TOTALS COSTS X 125%)
DATE
COSTS