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SIAThe undersigned, as the developer of Gateway Orchard Villa, a subdivision located in Kalispell, Montana, does hereby undertake and agree to be bound to the City of Kalispell, a political subdivision of the State of Montana, to construct the improvements described herein in accordance with the plans and specifications on file with the city, copies of which have been furnished heretofore, and which are, by this reference, incorporated herein. Infrastructure improvements consist of: A. Basic water system improvements to each lot. The estimated cost of installation is $98,345.00. B. Basic sewer system improvements to each lot. The estimated cost of installation is $87,215.00. C. Roadway grading, subbase gravel, base course gravel and paving to each lot. The estimated cost of installation is $137,750.00. D. Basic storm drainage improvements, including ditch grading, storm inlets and piping. The estimated cost of installation is $32,420.00. The total estimated cost of the work covered by this agreement is $355,730.00, as evidenced by the Certified Engineer's Estimates, Exhibit 1. The above estimates will be reduced by work in place or materials on -site at the time this Agreement is executed. Completion of this work is guaranteed by: 1) A Letter of Credit for $444,662.50. The Certificate of Licensed Engineer, attached hereto as Exhibit 1, is incorporated herein and Developer agrees to be bound by the cost estimates set forth therein, Exhibit 2. City of Kalispell 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 notice and 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 the representative of the City to be present at the noticed time or to waive the right to inspect that work. 1 Gateway Orchard Villa shall provide for inspection of all required public improvements by a registered professional engineer. Upon completion of the inspection, the registered professional engineer shall file with the City of Kalispell a statement certifying the public improvements have been completed in accordance with the approved plans or listing the defect in those improvements. The City of Kalispell shall release Gateway Orchard Villa from the Subdivision Improvements Agreement. Should Gateway Orchard Villa fail to meet the requirements of the requirement for inspection and certification by a registered professional engineer, the City of Kalispell shall have the inspections completed and the costs borne by Gateway Orchard Villa. Gateway Orchard Villa does warrant to the City of Kalispell the design, construction materials, and workmanship of the improvements against any failure or defect in design, construction, material, or workmanship which is discovered within one year of the date of notification to the City of the substantial completion of such work or any portion thereon. The obligation of the undersigned 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 such repair or replacement. Should Gateway Orchard Villa fail to fulfill this warranty by a prompt repair or replacement of defective work or material, the City of Kalispell shall have the right to contract for such work to be performed at the expense of Gateway Orchard Villa, and Gateway Orchard Villa agrees to pay the cost thereof on demand. Gateway Orchard Villa has obtained an irrevocable commitment for financing as evidenced by the Ronan State Bank letter attached hereto and by this reference incorporated herein. In the event that Gateway Orchard Villa does not complete the improvements by the completion date for the various items of work shown on Exhibit 3, attached hereto and by this reference incorporated herein, plus any extension granted in writing by the City of Kalispell, the City shall, on demand to the issuer of the financing commitment, be paid the amount of the financing, less the estimated cost for each item listed on the Engineer's Certificate incorporated in the Improvement Agreement that has been completed to the satisfaction of the City. The City shall utilize such funds to complete the work that remains to be done and upon completion shall return any surplus funds to the entity from whom received. If the City of Kalispell determines that any improvements are not constructed in compliance with the specifications, it shall furnish the Subdivider with a list of specific deficiencies and may withhold collateral sufficient to ensure proper completion. If the City of Kalispell determines that the Subdivider will not construct any or all improvements to required specifications, or within the time limits, it may withdraw collateral and use these funds to construct the improvements and correct any deficiencies to meet specifications. Unused portions of these funds shall be returned 2 to the Subdivider or crediting institution. Dated this day of , 1993 GATEWAY ORCHARD VILLA GESN PARTNERSHIP Frank Strickland, General Partner ATTEST: Dated this day of ,e u _, 1993 City of Kalispell Douglas Rauthe, Mayor ATTEST: ecre ary, Assistant 3 CERTIFICATE OF LICENSED ENGINEER The undersigned, acting for Thomas, Dean & Hoskins, Inc., does hereby certify that said firm is duly licensed to practice Civil Engineering in the State of Montana and has performed such services in connection with Gateway Orchard Villa Subdivision in Flathead County, Montana. The undersigned further certifies that the cost estimates attached hereto and by this reference incorporated herein he has prepared. The undersigned further represents that the estimates are comparable to similar work completed in and by the City of Kalispell. Dated this day of , 1993. Ar THOMAS, DE N & HOSKINS, INC. By: Michael W. Fraser 3826 E. 4 EXHIBIT 2 GATEWAY ORCHARD VILLAS CONSTRUCTION COST ESTIMATES SCHEDULE IA 1, ;MAINu--r Estimated Unit Item Description Quan/Unit Price Amount 1. Type II Pipe Bedding 100 C.Y. 5.00 $ 500.00 2. Water Main 8" PVC DR 18 1420 L.F. 9.00 12,780.00 6" PVC DR 18 1595 L.F. 7.00 11,165.00 3. Fire Hydrants with Auxiliary valves 4 EA 1600.00 6,400.00 4. Cast Iron Fittings 1800 LBS. 2.00 3,600.00 5. Connect to Existing 2 EA 600.00 1,200.00 Main 6. Services 88 EA 650.00 57,200.00 7. Asphalt Pavement Replacement By City 0.00 8. Gate Valve 8" 5 EA 600.00 3,000.00 6" 5 EA 500.00 2,500.00 TOTAL $ 98,345.00 SCHEDULE II SEWER IMPROVEMENTS 1. Type II Bedding 100 C.Y. 5.00 $ 500.00 2. Sewer Main 8" PVC SDR 35 2500 L.F. 8.00 20,000.00 4" PVC SDR 35 2640 L.F. 4.00 10,560.00 3. Type A Exc with Type I Backfill 3000 C.Y. 7.00 21,000.00 4. Manhole (48" diameter) 5' Deep 11 EA 2000.00 22,000.00 5. Extra Depth of Manhole 33 V.F. 80.00 2,640.00 6 Estimated Unit Item Description Quan/Unit Price Amount 6. Connect to Existing Sewer 1 EA 1500.00 1,500.00 7. 8" x 4" Service Wye 88 EA 80.00 7,040.00 8. Cleanouts 2 EA 800.00 1,600.00 9. Asphalt Pavement Replacement 25 S.Y. 15.00 375.00 TOTAL $ 87,215.00 SCHEDULE III STREET CONTSTRUCTION 1. Street Excavation (24" deep) 5800 C.Y. 4.50 26,100.00 2. Select Subbase (12" thick) 2900 C.Y. 4.00 11,600.00 3. Select Subbase 7050 S.Y. 4.00 28,200.00 4. Asphalt Cement Pavement (4") 7050 S.Y. 3.00 21,150.00 5. Curb and Gutter 3800 L.F. 6.00 22,800.00 6. Sidewalk 11000 S.F. 1.90 20,900.00 7. Lighting Lump Sum 7,000.00 TOTAL $ 137,750.00 SCHEDULE IV STORM DRAINiAGE IMPROVEMENTTS 1. Storm Sewer 12" PVC 335 L.F. 12.00 4,020.00 2. Type A Exc with Type I Backfill 200 C.Y. 7.00 1,400.00 3. Storm Drain Inlets: Curb 10 EA 1000.00 10,000.00 4. Outlet Structure 5 EA 500.00 2,500.00 TOTAL $ 17,920.00 N. Estimated Unit Item Description Quan/Unit Price STORY[ SEWER DITCH RELOCATION 1. Ditch Excavation 1000 C.Y. 6.00 2. Inlet/Outlet 2 EA 1500.00 3. Seeding Replacement 2200 S.Y. 2.50 TOTAL SUMMARY Water Main Improvements Sewer Main Improvements Street Improvements Storm Drainage Improvements TOTAL PROJECT Amount 6,000.00 3,000.00 5,500.00 $ 14,500.00 $ 98,345.00 87,215.00 137,750.00 32,420.00 7 EXHIBIT 3 COMPLETION SCHEDULE GATEWAY ORCHARD VILLA Start Utility Construction Complete Utility Construction Complete Road Base Course Complete Curb & Gutter Complete Paving May 1, 1993 July 1, 1993 July 15, 1993 July 31, 1993 August 31, 1993 RONAN STATE BANK PABLO COMMUNITY BRANCH IRREVOCABLE STANDBY LETTER OF CREDIT #474 August 16, 1993 TO: City of Kalispell ATTN: Douglas D. Rauthe, Mayor Kalispell, MT 59901 FROM: Ronan State Bank Box B Ronan, MT 59864 RE: Irrevocable Standby Letter of Credit #474 AMOUNT: $121,937.50 EFFECTIVE DATE: August 16, 1993 EXPIRATION: August 16, 1994 Dear Mayor Rauthe: We hereby establish a Standby Irrevocable Letter of Credit in your favor for the sum not exceeding a total of $121,937.50 for the account of GESN, a Montana General Partnership, PO Box 420, Lakeside, MT 59922-0420. Draws on the Letter of Credit shall be made by City of Kalispell upon its written statement signed by a City Commissioner and in the following form: RE: Ronan State Bank Irrevocable Standby Letter of Credit No. 474 Dated 8-16-93 The City of Kalispell hereby draws under said Letter of Credit No. 474 in the amount of $ Said amount is being drawn to pay for the cost of improvements at the Gateway Orchard Villa Subdivision, which were to be completed as set forth in the attached Certificate of Completion Agreement and signed by Michael W. Fraser. The City has given written notice to Gateway Orchard Villas Subdivision of its failure to timely complete said improvements and has set forth the particular improvements not so completed, a copy of which written notice is attached. Phone (406) 676-4600 • Post Office Box B • Ronan, Montana 59864.0069 Such draft and supporting documents shall be presented at the office of Ronan State Bank, Box B, Ronan, MT 59864, ATTN: Commercial Loan Department. This Letter of Credit shall terminate and expire either: (a) upon the delivery to the Bank of the written certificate by The City of Kalispell stating that Gateway orchard Villas Subdivsion has satisfactorily completed the improvements for said Gateway Orchard Villas Subdivision, as above referred to, or (b) August 16, 1994, whichever date is the sooner. This Letter of Credit is subject to the Montana Uniform Commercial Code and the Uniform Custom and Practice for the Documentary Credits (1983 Revision) International Chamber of Commerce Document No. 400. Ronan StaLe ank BY '-"' A.F. Wied&ma'n, III Vice -President ATTEST: t " RE: Gateway Orchard Villas Letter of Credit No. 474 APPROVAL The foregoing Letter of Cre t is hereby approve� and accepted. Dated this 16* day of 1993. CITY OF KALISPELL If-ri --Rauthe, Mayor CERTIFICATE OF COMPLETION GATEWAY ORCHARD VILLAS I, Michael W. Fraser, a Registered Professional Engineer in the State of Montana, do hereby certify that the following listed improvements have been completed in substantial conformance to the approved plans and specifications. The quantities and unit prices are accurate estimates of the cost of construction of the completed improvements. SCHEDULE IA WATER MAIN IMPROVEMENTS - ON SITE Estimated Item Description Quan/Unit 1. Type II Pipe Bedding 2. Water Main 87, PVC DR 18 611 PVC DR 18 3. Fire Hydrants with Auxiliary valves 4. Cast Iron Fittings 5. Connect to Existing Main 6. Services 7. Asphalt Pavement Replacement 8. Gate Valve 811 6" 1411 �Tiii l 100 C.Y. 1420 L.F. 1595 L.F. 4 EA 1800 LBS. 2 EA 1 By City 5 EA 5 EA Unit Price 5.00 1600.00 2.00 600.00 600.00 500.00 Amount $ 500.00 12,780.00 11,165.00 6,400.00 3,600.00 1,200.00 57,200.00 0.00 3,000.00 2,500.00 $ 98,345.00 1 Estimated Unit Item Description Quan/Unit Price Amount SCHEDULE II SEWER IMPROVEMENTS 1. Type II Bedding 100 C.Y. 5.00 $ 500.00 2. Sewer Main 8" PVC SDR 35 2500 L.F. 8.00 20,000.00 4" PVC SDR 35 2640 L.F. 4.00 10,560.00 3. Type A Exc with Type I Backfill 3000 C.Y. 7.00 21,000.00 4. Manhole (48" diameter) 5' Deep 11 EA 2000.00 22,000.00 5. Extra Depth of Manhole 33 V.F. 80.00 2,640.00 6. Connect to Existing Sewer 1 EA 1500.00 1,500.00 7. 8" x 4" Service Wye 88 EA 80.00 7,040.00 8. Cleanouts 2 EA 800.00 1,600.00 9. Asphalt Pavement Replacement 25 S.Y. 15.00 375.00 SUBTOTAL $ 87,215.00 SCHEDULE III STREET CONSTRUCTION 1. Street Excavation (24" deep) 5800 C.Y. 4.50 26,100.00 2. Select Subbase (12" thick) 2900 C.Y. 4.00 10,600.00 3. Select Subbase 7050 S.Y. 4.00 0.00 4. Asphalt Cement Pavement (4") 7050 S.Y. 3.00 0.00 5. Curb and Gutter 3800 L.F. 6.00 0.00 6. Sidewalk 11000 S.F. 1.90 0.00 Estimated Unit Item Description Quan/Unit Price Amount 7. Lighting Lump Sum 3,500.00 SUBTOTAL $ 40,200.00 TOTAL COMPLETED $ 225,760.00 The Letter of Credit amount may be reduced by up to 125% of this amount or $282,200.00. The remaining work to be completed is estimated to cost $97,550.00 or a Letter of Credit of $121,937.50. -A law..Pt MicWael W. Fraser, 3826E 3