Lone Pine Trails Subdivision Improvement Agreement (Recorded)2006254 15 t/"�O
Return to:
Theresa White
Kalispell City Clerk
P.O. Box 1997
Kalispell, Mt 59903
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?AGES � BY
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APPENDIX E
SUBDIVISION IMPROVEMENT AGREEMENT
THIS AGREEMENT, made and entered into this ;- day of Gap = 2006, by and between the
CITY COUNCIL, City of Kalispell, Party of the First Part and hereinafter referred to as the CITY, and
LONE PINE DEVELOPMENT LLC., whose address 144 EAST SECOND STREET, WHITEFISH,
MT 59937, Party of the Second Part and hereinafter referred to as DEVELOPER.
WITNESSETH:
THAT WHEREAS, the Developer is the owner and developer of a new subdivision known as
Lone Pine Trails, located in ASSESSORS TRACTS 3FE+, 3FED, 3FEB, 3FEC, 3FEA, 3FEF, 3FEE,
3HAA, 3HA IN SECTION 13, TOWNSHIP28 N, RANGE 22 W„ Flathead County, Montana
bo and,
WHEREAS, the City has conditioned its approval of the final plat of Lone Pine Trails
r
00 Subdivision 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 professional engineer included herewith as "Exhibit B"; and
Cli
r WHEREAS, the estimated total cost of construction of said improvements is the sum of
(J' $328,850.00
6
NOW, THEREFORE, in consideration of the approval of the final plat of said Subdivision by
the City, the Developer hereby agrees as follows:
2000254 15 LG 6
1. The Developer shall deposit as collateral with the City a letter of credit and a cashiers check,
in the amount of $411,062.50. Said Certificates of Deposits 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 $411,062.50, 125% of the estimated cost
if completing the required improvements in Lone Pine Trails 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 limit of credit
stated in the letter.
2. That said required improvements shall be fully completed by October 30, 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 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.
20OG25415a aD
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 ensure 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.
200s254 / 15 y �
STATE OF�o7c
COUNTY OFT-\o,�
On this day of ,3 20 O�- , before me, a Notary Public for the
State of Montana, personally appeare , known to me to be thof
LONE PINE DEVELOPMENT LLC, 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
and year first above written.
- otary Public for the State ofe,, cam,
Residing at:
My Commission Expires:
MAYOR, CITY OF KALISPELL
B
ayor
* � NOTARUL,
SEAR
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ATTEST:
By:
Seal this day
2000254 !� `-1 a-o
EXHIBIT A
Conditions of approval as fixed to the preliminary plat by the City Council, Kalispell, Montana.
EXHIBIT B
This agreement specifically includes the following improvements, their projected construction
completion date and estimated construction costs.
CONSTRUCTION ESTIMATED PERCENTAGE
COMPLETION CONSTRUCTION COMPLETE
IMPROVEMENTS DATE COSTS
Street grading
8/23/2006
$52,076.00
0%
52076.00
Street base
10/30/2007
$23,755.00
0%
23,755.00
Sidewalks/Curb
8/30/06
$136,628.23
9 %
125,347.00
Sanitary sewer mains
9/15/06
$342,269.33
99%
3,422.00
Water mains
8/25/06
$293,309.94
100%
Fire hydrants
8/18/06
in water cost
100%
Storm drainage facilities
8/18/06
in sidewalk/curb est
100%
Street Signs (17)
10/30/2007
$4,250.00
0%
4,250.00
Street lighting
8/23/06
$49,618.00
100%
Mail Boxes, Barrier
10/30/2007
$ 6,000.00
0%
6,000.00
Paving
10/30/2007
$114,000.00
0%
114,000.00
Landscaping/boulevard trees
8/30/07
$49,658.00
paid to
city parks dept
other
Subtotal
$ 1,071,156.45
$ 328,850
TOTAL COST
TOTAL COLLATERAL (TOTAL COST x 125%)
MAN
12563PE
$ 328,850
$ 411,062.50