SIA Phase 14 dated 10/04/04APPENDIX E
SUBDIVISION IMPROVEMENT AGREEMENT
THIS AGREEMENT, made and entered into this day of ,
2004, by and between the CITY COUNCIL, CITY OF KALISPELL, MONTANA, Party of the
First Part and hereinafter referred to as the CITY, and
OWL Co oration
(Name of Developer)
a Co oration
(individual, Company or Corporation)
located at 500 Palmer Drive Kalispell, Montana 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 Glacier Village Greens, Phase 14
(Name of Subdivision)
located at Glacier Village Greens East Niklaus Avenue
(Location of Subdivision)
and,
WHEREAS, the City has conditioned it's approval of the final plat of
Glacier Village Greens, Phase 14 upon the conditions as set forth in the Preliminary Plat
(Name of Subdivision)
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
$_ 25,100
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 $_ 31,375_ , . 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 $. 31,375 .. the estimated cost of
completing the required improvements in Glacier -Village Greens Phase 14
(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 July 31, 2004
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 fled 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.
OWL Corporation
(Name of Subdivision/Developer/Firm)
by /4L/ e Secretary/Treasurer
ark Owens (Title)
STATE OF MONTANA
COUNTY OF FLATHEAD
On this ( day of , 2004, before me, a Notary Public
for the State of Montana, personally appeared Mark Owens known to me to be the
Secretary/Treasurer of OWL Corporation , 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.
,Notary Public for the'Stiaw'of Montana
Residing at qA &
My Commission Expires �
MAYOR, CITY OF KALISPELL
u EW611
ATTEST
FINANCE DIRECTOR
EXI IIB1T B
This agreement specifically includes the following improvements, their projected construction completion
date and estimated construction costs.
ESTIMATED
CONSTRUCTION
COSTS
IMPROVEMENTS
Street Grading/Paving $ 9,985
Sidewalks $ 12980
Natural Gas $ 6,700
Landscaping; $ 2,160
Trees - 14 ( $200 each $ 2,450
Engineering $ 800
SUBTOTAL $ 25,100
FEES $
TOTALS COSTS$ 25,100
TOTAL COLLATERAL (TOTALS COSTS X 1250/.)$ 31,375
Estimated date of completion is July 31, 2004