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Subdivision Improvement Agreement dated 09/05/06 - RECORDEDReturn to: Theresa White Kalispell City Clerk P.O. Box 1997 Kalispell, Montana 59903 Eza� Q L .i i­ A Pv lit Fx_ SSSS a 6 .eL �'i gg-r��.r.:xz vuayz�- 67 g@ .. rc..ti, -.. ..._....::. �__.. .:..�. 9/5-/ lv APPENDIX E SUBDIVISION IMPROVEMENT AGREEMENT THIS AGREEMENT, made and entered into this .�day of 2006, by and between the CITY COUNCIL, CITY OF 0 RALISPELL, MONTANA, Flathead County, Montana, Party of the First Part and hereinafter referred to as the CITY, and BEARGRASS HOLDINGS, LLP, of P.O. Box 7505; Kalispell, Montana , 59904, Party of the Second Part and hereinafter referred to as DEVELOPER. -. WITNESSETH: 0 THAT WHEREAS, the Developer is the owner of a new subdivision known as "CEDAR COMMONS", located in Section 17, T28N, R21W, PM,M, Flathead County (D and, ("6 V) WHEREAS, the city has conditioned it's approval of the final plat of "CEDAR COMMONS", upon the conditions as set forth in the Preliminary Plat of the Subdivision being Pimprovements, com leted and all as cited in "Exhibit A" have not been completed at this time, and the Developer wishes to bond for the 0 completion of those improvements set forth in "Exhibit A"; and WHEREAS, the City s Subdivision Regulations require that a subdivider shall P rovide a financial securityof 125% of the estimated total cost of construction of said improvements as evidenced by an estimate prepared by a licensed public engineer or the contractor included herewith as "Exhibit B", and WHEREAS, the estimated total cost of construction of said improvements is the sum of $227,900.00. NOW THEREFORE, in consideration of the approval of the final plat of said Subdivision by the City, the Developer hereby agrees as follows: . The Developer shall deposit as collateral with the City a Letter of Credit, or other acceptable collateral as determined by the City Council, City of Kalispell, Montana, in the amount of $284,875.00. 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 $284,875.00, the estimated cost of completing the required improvements in "CEDAR COMMONS b. That if the Developer fails to complete the specified improvements within the required period, the creditor will pay 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 JUNE 189 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 ( ) year from the date of acceptance of the completion of those improvements by the City: and 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 have been filed with the City; 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. IN WITNESS WHEREOF, the Parties have hereunto set their hands and seals the day and year herein before written, CEDAR COMMONS BEARGRASS HOLDINGS, LLP B ------------------- STATE OF MONTANA ) SS COUNTY OF Flathead ) On this a1f'" day of AQ � 2 06 befor e, a Notary Public for the State of Montana, personally 0-at _j%�1c�a,�_ and known 1 to me to be a member of BEARGRASS HOLDINGS, LP and whose name is subscribed to the foregoing instrument and acknowledged to me that he executed the same for said LLP. IN WITNESS WHEREOF, I have h Seal the day and year first above wri fi iesiding H. Burton Public for the State of Montana at Kalispell, Montana My Commission Expires 6/18/2007 MAYOR, CITY OF KALISPELL MAYOR o set d and affixed my Notarial EPOTAfiiA�. � SEAI. � 9-- � o F M 010,`Q. ATTEST: -1� ------------- CITY CLERK NO . 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E N m t6 -a ` n :�.�.. -j (o M � U o oa 06 WM cn � �--+ Cl)�- w M: F-- W W D c � .J U) >- -m Q a) � v � o 4-0 0 W lW- ? z U Z z -j L 7 z QQ �2 z Q Q� Q 0QQ 2 � ,� Q V z ❑[.3-° o c v mz Z --- Cn Q WQ �WZ �' ¢ Q Z W Q W � W C) W [j z W Q 5C (n ❑ mQ U) .j o-a — CU 1 Q -"- �W Q❑ W Q !-- V �- W —j_X x 0 Q Z Q Q -i wC] m oLoN o .) co � w jw ❑- w W CI) CL I J -- m HN t- 20OG254/5 430 0 Return to: Theresa White q Kalispell City Clerk P.O. Box 1997 ( � Kalispell, Montana 59903 . T- APPENDIX E SUBDIVISION IMPROVEMENT AGREEMENT THIS AGREEMENT, made and entered into this_- day of 7Z_ 2006, by and between the CITY COUNCIL, CITY OF KALISPELL, MONTANA, Flathead County, Montana, Party of the First Part and hereinafter referred to as the CITY, and BEARGRASS HOLDINGS, LLP, of P.O. Box 7505, Kalispell, Montana , 59904, Party of the Second Part and hereinafter referred to as DEVELOPER. WITNESSETH: THAT WHEREAS, the Developer is the owner of a new subdivision known as "CEDAR COMMONS", located in Section 17, T28N, R21W, PM,M, Flathead County and, WHEREAS, the city has conditioned it's approval of the final plat of "CEDAR COMMONS", 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 00 completion of those improvements set forth in "Exhibit A"; and WHEREAS, the City's Subdivision Regulations require that a subdivider shall co provide a financial security of 125% of the estimated total cost of construction of CP said improvements as evidenced by an estimate prepared by a licensed public engineer or the contractor included herewith as "Exhibit B", and WHEREAS, the estimated total cost of construction of said improvements is the sum of $227,900.00. 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, City of Kalispell, Montana, in the amount of $284,875.00. 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 $284,875.00, the estimated cost of completing the required improvements in "CEDAR COMMONS". b. That if the Developer fails to complete the specified improvements within the required period, the creditor will pay 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 JUNE 18, 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 have 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. IN WITNESS WHEREOF, the Parties have hereunto set their hands and seals the day and year herein before written. CEDAR COMMONS BEARGRASS HOLDINGS, LLP STATE OF MONTANA ) SS COUNTY OF Flathead ) On this a1%-day of _Au w�C _ 2 06 befor e, a Notary Public for the State of Montana, personally �ppeared _[ ��—�� _ and known to me to be a member of BEARGRASS HOLDINGS, LLP and whose name is subscribed to the foregoing instrument and acknowledged to me that he executed the same for said LLP. v� IN WITNESS WHEREOF, I have h to set m-N d and affixed my Notarial Seal the day and year first above wri tee . t OTA IAA SEAL J mes H. Burton otary Public for the State of Montana esiding at Kalispell, Montana OF My Commission Expires 6/18/2007 MAYOR, CITY OF KALISPELL MAYOR ATTEST: CITY CLERK 0 w o C) C) C) O C) O C) C) C) C) O C)O O C) CD C) 0 0 0 0 0 0 I-w 0 O 0 O 6 O 0 O 0 O 0 o 0 O 6 O 0 O 6 o�rl_ Sri LO Z O O O d O O O In O (3) O CO � N N M O Co CO to CO N r- (61t W 2 0 N N Q 61.� 69- 69- 69- Q9� V9, 6� 61.� 61)69-61), 0 ~ W o a_ o 0 0 0 0 0 0 0 0 0 0 U o 0 0 0 0 0 0 0 0 0 Q o 0 0 0 0 0 0 0 0 o C C V c c c C 0 co 0 o UL O N 00 N M O) O CO LO CO N CA N U Z N EA 64 ER Efl Ef} Ef} ffl (� K} Ef} V+ 7T O O c cn a O a) N C Q O O a L Q O C -a M CU E _ E 7o ( 0 rn U) -0 , co _ C O COCW 'a O C MU a NO ca E O Q. -cn O N O) U x � NC cn O Ucu — a co _N vQi a cn ) �(ON VOCc —_cU 0 O_ E a U Cow "a "a O � 04 Z o° C M m co co w� cn a 1 cn n L o m U O C C — Q O c:a-0 Q_ 3 v- -0-0> O Q C cn Q � � c � 3 w- m ° aa) Q C�)� co M � C uiWC� C O C -a O a C� o _ 0 0) Rso4= U N C� N C Q.QN O E O O N N > V (n 0 M 4= ,C_� cn 0 E W w o c U �� s� 06•5 Q >C U m �aQO a) 3 cu v: co U M a)0�Q N ,C « 3 0 0 "'cr,co cn-0 .17 o E QOYaE a)��a) 0cn a� a' a� _0330 co > m— O g Om O-OO t Q c6 � yC a)a .J CL Q in O L (n 4) � a C O C N m > > O> >, O C En Q_ cn a CO x m ..0 N N— L O "- fl a 5 G� U x U cn x 0 U c x ca a Q E �_ L 0 0 rz E 3 cu u Q 2 0) - 3 Y= Qtoo E E N a' 0 a) cn (� cn (n O _cn a) 12 - U v7 U tB N�cO �� 3 ��a)O ,YaQ U �U�ta0�in a)_�a E CL .a C C C N C x :p m a N _ C. 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