SIAWHITEFISH STAGE PROFESSIONAL PARK
SUBDIVISION IMPROVEMENT AGREEMENT
THIS AGREEMENT, made and entered into this ; day of
00 c e 1997, by and between the City of Kalispell,
Montana, Flathead County, Montana, (hereinafter CITY) and Golden
Development Company, Inc., a Montana corporation, (hereinafter
GOLDEN) :
W I T N E S S E T H:
WHEREAS, GOLDEN is the owner of certain tracts of land located
within the CITY known as WHITEFISH STAGE PROFESSIONAL PARK, in
Section 8, T28N, R21W P.M.M., Flathead County, Montana, and
WHEREAS, CITY has conditioned approval of a final plat application
for WHITEFISH STAGE PROFESSIONAL PARK, an office condominium
development, upon the completion of certain items as set forth in
the Preliminary Plat approval of said Subdivision and certain
improvements, as cited in "Exhibit A" having not been completed as
of the date of this Agreement, and
WHEREAS, GOLDEN desires to bond for the completion of said
improvements, and
WHEREAS, the CITY's Subdivision Regulations require that a
subdivider shall provide financial security in the amount of 125%
of the estimated total cost of construction of said improvements as
evidenced by an estimate prepared by a licensed public engineer as
set forth in Exhibit A, and
WHEREAS, the estimated total cost of construction of said
improvements is the sum of $67,345.00.
NOW THEREFORE, in consideration of the approval of the final plat
of said Subdivision by the CITY, GOLDEN hereby agrees as follows:
1. GOLDEN shall deposit a Certificate of Deposit, issued by
Glacier Bank, N.A., in the amount of Eighty Four Thousand
One Hundred and Eighty One Dollars and Twenty Five Cents
($84, 181.25) in the name of the City of Kalispell with
Escrow Services, P.O. Box 294, Kalispell, Montana 59903-
02 94 .
J:wp\sia-wfstage Page 1 of 6
2. Said Certificate of Deposit shall guarantee funds in the
sum of Eighty Four Thousand One Hundred and Eighty One
Dollars and Twenty Five Cents ($84, 181.25), said sum
being 1250 of the estimated cost of completing the
required improvements in WHITEFISH STAGE PROFESSIONAL
PARK, as described in Exhibit A.
3. The initial term of the Certificate of Deposit shall be
for a term of not less than six (6) months and said
Certificate shall be renewed periodically during the term
of this Agreement and shall not expire prior to sixty
(60) days following the date set for completion of the
improvements specified in Exhibit A, unless terminated
sooner at the direction of the City.
4. The completion date for all improvements listed in
Exhibit A shall be December 31, 1999, or at such later
time as approved by the City.
5. In the event GOLDEN does not complete the improvements
listed in Exhibit A by the completion date, plus any
extension granted, in writing by the CITY, Escrow
Services shall, upon demand of the City, deliver unto the
City said Certificate of Deposit and the City shall
utilize the proceeds of said Certificate of Deposit to
complete the work that remains to be done and upon
completion return any surplus funds to GOLDEN.
6. The City shall inspect and approve the installation of
all the improvements set forth in Exhibit A, and shall
upon completion, release Certificate of Deposit to
GOLDEN, and release GOLDEN from this Subdivision
Improvement Agreement.
7. The City will be afforded a reasonable opportunity to
inspect work before it is covered or concealed by other
work as to its agents and employees, request an
opportunity to inspect. In instances where the City
requests an opportunity to inspect particular items of
work, or testing procedures for any work, notice of the
time when said work will be available for inspection or
when such testing will occur will be given to the
requesting official by telephone at least 24 hours in
advance of such time. It shall be the responsibility of
J:wp\sia-wfstage Page 2 of 6
the representative of the CITY to be present at the
noticed time or to waive the right to inspect the work.
8. GOLDEN does warrant to the CITY the design, construction
materials, and workmanship of the improvements against
any failure or defect in design, construction material or
work shown on Exhibit A, attached hereto and thereby made
a part hereof, which is discovered within one year of
date of the notification to the CITY of the substantial
completion of such work or any portion thereon. The
obligation of GOLDEN under this warranty shall be limited
to the repair or replacement of the defective work or
material plus the restoration of any area or improvement
disturbed during the course of repair or replacement of
defective work or material. Upon determination by the
City of the existence of a warranty claim, the CITY shall
notify GOLDEN of such claim and the requirements to
satisfy said claim and allow reasonable time for GOLDEN
to repair or replace the defective work. Should GOLDEN
not perform the work within the reasonable time, the CITY
shall have the right to contract for such work to be
performed at the expense of GOLDEN and GOLDEN agrees to
pay the cost thereof on demand.
9. If the CITY determines that any improvements are not
constructed in compliance with the specifications, it
shall furnish GOLDEN with a list of specific
deficiencies. If such deficiencies are corrected, to
required specifications, within a reasonable time, CITY
may demand surrender of the Certificate of Deposit from
Escrow Services to ensure proper completion. If CITY
determines that GOLDEN will not construct any or all
improvements to required specifications, or within the
time limits, it may demand surrender of the Certificate
of Deposit from Escrow Services and use the proceeds to
construct the improvements and correct the deficiencies
to meet specifications. Unused portions of the funds
shall be returned to GOLDEN.
10. All interest accruing on said Certificate of Deposit
during the term of this Subdivision Improvement Agreement
shall inure to the benefit of GOLDEN.
11. Substitution of a lesser amount of security pledged by
this Agreement shall be allowed upon maturity date of
J:wp\sia-wfstage Page 3 of 6
Certificate of Deposit with certificate from Engineer
documenting that specific work items have been completed.
Dated this day of 1997.
GOLDEN DEVELOPMENT COMPANY, INC.
Its:
4
Attest:
Its:
STATE OF MONTANA )
SS
County of Flathead )
On this day of 1997, before me, the
undersigned, a Notary Public for the State of Montana, personally
appeared D.F. Working, known to me to be the President of Golden
Development Company, Inc., the Corporation whose name is subscribed
to the foregoing instrument and acknowledged to me that such
Corporation executed the same.
IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed
my official seal the day and year last abo witten.
otary P blic, State of
Resides�}`` at: s ��
My Commission Expires:
J:wp\sia-wfstage Page 4 of 6
STATE OF MONTANA )
: SS
County of Flathead )
On this day of r 1997, before me appeared D.F.
Working, to me personally known, who being duly sworn, acknowledged
to me that he executed the within instrument for the purposes
therein stated.
D.F. Working
IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed
my official seal the day and year last above written.
Lary Public, State of Oregon
Residi g at:
My Commission Expires:
CITY OF KALISPELL
By: Its:
'
Attest:
,a, .iL % (Rd fr) c
Debbie Gif#o CMC
Clerk of Council
J:wp\sia-wfstage Page 5 of 6
STATE OF MONTANA )
ss
County of Flathead )
On this day of , 1992, before me, a
Notary Public in and for the State of Montana, personally appeared
Clarence Krepps, known to me to be the City Manager of the City of
Kalispell, a municipality, that executed the within instrument, and
acknowledged that such City Manager subscribed, sealed and
delivered said instrument as the free and voluntary act of said
municipality, for the uses and purposes therein set forth, and that
he was duly authorized to execute the same on behalf of said
municipality.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my
Notarial Seal, the day and year first above written.
Notary Public, State of Montana
Residin at Kalispell, Montana
My Commission expires
J:wp\sia-wfstage Page 6 of 6
EXHIBIT "A"
WHITEFISH STAGE PROSECTION FESSIONAL H
{, COUNTY MONTAN
i _:
Ditched _. installed from .y'
the :fi
':.. t ofthe ;l:::; _ north It south •aapprowlies./1 - W
culvert undcr the south approach have been omsUwted sad the puting
area ,,,the southsite entry i w in front of bldg. ♦ beensf R
dirt grade "with of p(t run gravel ovefty
`yam" wW
b) All curb stops and metem for the 4 bldp. have been purchased and
t Installed i sewa)k in front of t l,{
0 Install &W grade I foot of pit run of on north 213 of the
lot 5W
R-r"g 0 cu. t {i r
Ditch
i#'
c 2 hwh conduit"R:er Whitefish StW Rood to
81)PrOxi matt center of ft ', dewelopmentfor Pacific Power t
TO
cikNe to .,.:. R
.:,{::'
COMPIM r4ising center of parking lot to gmde with dirt to be
excayawd frorn i t s, 2 & 3 base=nm and grade the highway
i... e. 4# Rge of
R et ,.. d♦Wnd betweetjWhitefishStageRoad
i,;and
the t
w i axM- t
w
w
1' f i ;. ..tea+:4 r. . f i. 1
r
0 Excavate and •R'.-. .vl ail. the additional R a.R e:} Wking wa and '!•.:..
d) ConsMict approxinlaWy 650' of frontal sidewalk 5' wide from the
north end of b14 I to the north end of the site (02. 10 sq,
$6.825
Install i. #= raw; sprinkler ,ystem <- f , . ,ge Rp.. the Park's
0 Cost of I reqtnred fire hydrants along the road on ft em edge 0(
the development
{1
g Paint parking stripes on the parking lot
$500
The escrow arncwnt required for guaranteeing the completion of the above work by the
developer is $94,191.25 -`
s}imate Reviewed For Reasonableness By:
erence W. Richmond, P.E.
ORISQN-MAIERLE, INC.
.alispell, Montana
la ted : r•,� 7