HomeMy WebLinkAbout18- Addendum to Payment and Repayment Agreement - Flanders Mill, LLC - Westside Construction Project (Megabuild) After reCOrdlll 2627197 return t0: Page: 1 of 3 29/21/2018 030320 PM Fee: $21 00
Bozeman City Clerk Charlotte Mills - Gallatin co.ntr M Misr
P.O.Box 1230 �������������������������Illill IN 111111111111111111111111111111,11111111111111111
Bozeman,MT 59771-1230
ADDENDUM
TO
PAYMENT AND REPAYMENT AGREEMENT FOR
WESTSIDE CONSTRUCTION AGREEMENT
THIS ADDENDUM TO PAYMENT AND REPAYMENT AGREEMENT uQF-
WESTS E CONSTRUCTION AGREEMENT ("Addendum") is entered into as of the I }{ti
day of 2018,by and between FLANDERS MILL LLC("Flanders Mill"),whose
address is 225 Green Hills Ranch Road, Bozeman, MT 59718, and the CITY OF BOZEMAN
("City"),a self-governing municipal corporation,whose address is P.O.Box 1230,Bozeman,MT
59771.Flanders Mill and the City are collectively referred to in this Addendum as the"Parties".
WHEREAS,Flanders Mill and the City executed a Payment and Repayment Agreement
for Westside Construction Project,dated April 18,2017,and recorded April 21,2017 as Document
No.2577827(the"Agreement");
WHEREAS, the Parties desire to modify the Agreement relating to Sections 5(a)(ii) and
5(c)(2)(a)and(b)as to the amount of principal repayment Flanders Mill must make to the City for
Flanders Mill's Local Share of a Segment known as the East Side of Flanders Mill Road from Oak
Street to Baxter Lane adjacent to phases six(6)and seven(7)of the Flanders Mill Subdivision as
the cost of the construction of that Segment was less than the estimate provided in Exhibit H to the
Agreement;
NOW,THEREFORE,based upon the promises and mutual covenants and agreements,the
Parties hereto agree to the following assignment amendments and supplemental terms:
1. The language in Section 5(a)(ii) of the Agreement stating "$558,726.00 (five
hundred fifty eight thousand seven hundred twenty six dollars and zero cents)"is hereby deleted
and replaced with"$472,360.18 (four hundred seventy two thousand three hundred sixty dollars
and eighteen cents)".
2. The language in Section 5(c)(2)(a)of the Agreement stating"$304,759.63(three
hundred four thousand seven hundred fifty nine dollars and sixty three cents)"is hereby deleted
and replaced with"$259,798.10(two hundred fifty nine thousand seven hundred ninety eight
dollars and ten cents".
3. The language in Section 5(c)(2)(b)of the Agreement stating"$253,966.37(two
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Addendum to Payment and Repayment Agreement
for Westside Construction Agreement
I�
hundred fifty three thousand nine hundred sixty six dollars and thirty seven cents)"is hereby
deleted and replaced with"$212,562.08(two hundred twelve thousand five hundred sixty two
dollars and eight cents".
4. This Addendum amends and supplements the Agreement and shall be incorporated
into and a part of the Agreement, Except as specifically amended or supplemented herein,all terms
of the Agreement shall remain in full force and effect. In the event the terms of this Addendum
and the Agreement conflict or are inconsistent,the terms of this Addendum shall control. Unless
specifically defined herein, all capitalized terms shall have the definition given in the Agreement.
This Addendum may be executed in one or more counterparts,which taken together shall constitute
one and the same document.
IN WITNESS WHEREOF, the Parties have executed this Addendum effective as of the
date first written above.
City of Bozeman
By: Date: %( Iq l
Andrea Surratt, anag
ATTEST: 'y.�; K" ?.ctJt •
rf •
By:
1++ '03 ••
STATE OF MONTANA ) yR
ss.
County of Gallatin )
This instrument was acknowledged before me on the (q day of ,
2018 by Andrea Surratt, as City Manager for the City of Bozeman,Atontana.
" "" BRENDA SWEENEY
eo"•SwF.'-,
: Notary Public
m:NOl ARIq�•.c;for jhe to of Montana
lSing at: Notary Public for the State of Isontana
Bozeman, Montana
OF i , My Commissbn Expires:
December 02,201 a
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Addendum to Payment and Repayment Agreement
for Westside Construction Agreement
Homelands Development Co.,LLC,Managing Member
of Flanders Mill,LLC:
000 By: XDated:
Wendy Wilson,Authorized Agent of
Homelands Development Co.,LLC
STATE OF MONTANA )
ss
County of Gallatin )
On this day of 2018,before me,a Notary Public for the
State of Montana,personally appeared Wendy Wilson,known to me to be the person
whose name is subscribed to the above instrument and acknowledged to me that she is an
Authorized Agent of Homelands Development Co., LLC,the Managing Member of
Flanders Mill, LLC and executed the same.
,,���e�wool.
aS of , AL) KRIS DEASON
?a�''�'•'' " '.y` Notary Public Notary Pub 'c for the State of Montana
z for the State of Montana
* SEAL Residing at:
fir==� Bozeman, Montana
P'* MY Commission res:
°'�•,,� �� August 12,2022
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Addendum to Payment and Repayment Agreement
for Westside Construction Agreement