Subdivision Improvement Agreement - Phase 1A West9
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Return to:
Kalispell City Clerk
P.O. Box 1997
Kalispell, MT 59903
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Fees. $35.00
Debbie Piei-son, Flathead County MT by NC 4l23l2015 1:46 PM
SUBDIVISION IMPROVEMENT AGREEMENT
THIS AGREEMENT, made and entered into this (off day of Y ( ,
20 , by and between the CITY COUNCIL, CITY OF KALISPELL, MONTANA, Party of
the First Part and hereinafter referred to as the CITY, and
KALISPELL NATIONAL INVESTMENT COMPANY, LLC,
(Name of Developer)
a Montana Limited Liability Company
(Individual, Company or Corporation)
located at 124 Swan Ridge Court, Kalispell, MT 59901,
(Street Address/P. O. Box) (City, County, State, Zip)
Party of the Second Part and hereinafter referred to as DEVELOPER.
WITNESSETH:
THAT WHEREAS, the Developer is the owner and developer of a new subdivision known as
Bloomstone Phase 1-A West
(Name of Subdivision)
located at
Assessor's Tract 5C (Assessor's No. 0011734), SW1/4 of Section 36, T29N,
R22W, P.M.,M., Flathead County, Montana
(Location of Subdivision) and,
WHEREAS, the City has conditioned it's approval of the final plat of
Bloomstone, Phase 1-A West, upon the conditions as set forth in the Preliminary Plat of
the Subdivision being completed and all improvements, as cited in "Exhibit A" have not been
completed at this time, and the Developer wishes to bond for the completion of those
improvements set forth in "Exhibit A"; and
WHEREAS, the City's Subdivision Regulations require that a subdivider shall provide a
financial security of 125% of the estimated total cost of construction of said improvements as
evidenced by an estimate prepared by a licensed public engineer included herewith as
"Exhibit B"; and
WHEREAS, the estimated total cost of construction of said improvements is the sum of
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$ 1,130,605.45
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, in the amount of $ 1,413,256.81.
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 $ $ 1,413,256.81 the estimated
cost of completing the required improvements in Bloomstone, Phase 1-A West.
(Name of 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 limited of credit stated in the letter;
2. That said required improvements shall be fully completed by April 20, 2016.
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 two (2) years 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.
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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.
Bloomstone, Phase 1-A West, KALISPELL NATIONAL INVESTMENT
COMPANY, LLC,
(Name of Subdivisio eveloper/Firm)
by
Jim Davis, Manager
STATE OF MONTANA
COUNTY OF FLATHEAD
r AA
On this o�, ' day of , 20 t 5 before me, a Notary Public for
the State of Montana, personally appeared Jim Davis, known to me to be the Manager of
Kalispell National Investment Company, 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 affixed my Notarial Seal this
day and year first above written.
602L CAROL Pf TT
Notary Public for the State of Montana s���"4r NOTARY PUBUC for the
na
Printed Name Cftleot- , Stag K Morn, Mo
Y� TT SEAL Residing at Kalispell. Montana
Residing at i�a,l;MT a Myc,ly";s °zolgp"e'
My Commission Expires .'jjLAu Ili . 2c)1 b
MAYOR, CITY OF KALISPELL
MAYOR
ATTEST:
CITk CLERK 1 892
N.-
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EXHIBIT A
Conditions of approval as fixed to the preliminary plat by the City Council, Kalispell, Montana.
EXHIBIT B ,fie( /��G�C�e� I�S�-►'M �-�-P -
This agreement specifically includes the following improvements, their projected
construction completion date and estimated construction costs.
CHECK CONSTRUCTION ESTIMATED PERCENTAGE
APPROPRIATE COMPLETION CONSTRUCTION COMPLETE
IMPROVEMENTS DATE COSTS
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 Lighting
Street Monuments
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Survey Monument Boxes
Landscaping/
Boulevard trees
Other ( )
CHECK CONSTRUCTION .ESTIMATED PERCENTAGE
APPROPRIATE COMPLETION CONSTRUCTION COMPLETE
IMPROVEMENTS DATE COSTS
SUBTOTAL`' �� 3oi S ' y S
FEES $O "—� ' ' "I 4Cc1 wcc /
�'eC chI�
TOTALS COSTS � 13 0 (a bS, ` _5
TOTAL COLLATERAL (TOTALS COSTS X 125%) J // W 3, 2 56