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HomeMy WebLinkAbout20- Improvements Agreement - KS DevCor, Inc. - The Lakes at Valley West Subdivision Phase 5B Public Sidewalks, Infrastructure, Public Landscape and Irrigation Improvements J-665 Send Original City of Bozeman Department of Community Development P.O. Box 1230 Bozeman,MT 59771 PLATTED 2675541 Page: 1 of 7 03/11/2020 10:30:47 AM Fee $49.00 Eric Semerad - Gallatin County, MT IMP I IIIIIII IIIIII III INIIIIIII IIIIII IN1111111111111111111 MIN III IIIII IIIII IIII IIII IMPROVEMENTS AGREEMENT FOR THE LAKES AT VALLEY WEST SUBDIVISION—PHASE 5B (PUBLIC SIDEWALKS, INFRASTRUCTURE, PUBLIC LANDSCAPE AND IRRIGATION IMPROVEMENTS) THIS AGREEMENT is made and entered into this � day of�2020, by and between the KS DevCor, Inc., hereinafter called the "Subdivider", and the CITY OF BOZEMAN, a municipal corporation and political subdivision of the State of Montana, with offices at City Hall, 121 North Rouse Avenue, P.O. Box 1230, Bozeman, MT 59771-1230, hereinafter called the "City". WHEREAS, it is the intent and purpose of the Subdivider to meet the conditions of preliminary plat approval, Planning Application No. 18022, for the Final Plat application of THE LAKES AT VALLEY WEST SUBDIVISION - PHASE SB (19490), to subdivide 1.901 acres together and create twelve (12) residential lots containing twelve (12) single family dwellings with six (6) lots approved for accessory dwelling units, two (2) common open space lots, and the remaining areas as public streets; and WHEREAS, it is the intent and purpose of the Subdivider to obtain Final Plat approval for THE LAKES AT VALLEY WEST SUBDIVISION-PHASE Sb; and WHEREAS, the Final Plat for THE LAKES AT VALLEY WEST SUBDIVISION - PHASE 5b, is to be filed prior to the installation of all required subdivision improvements and an improvements agreement with financial security was provided; and The Lakes at Valley West Subdivision-Phase 5b—Improvements Agreement Page 1 of 7 WHEREAS, it is the intent and purpose of both the Subdivider and the City to hereby enter into an Agreement which will guarantee the full and satisfactory completion of the required improvements related with the property hereinafter described; and it is the intent of this Agreement, and of the parties hereto, to satisfy the improvements guarantee requirements for the Final Plat approval of THE LAKES AT VALLEY WEST SUBDIVISION-PHASE 5b. NOW, THEREFORE, in consideration of the mutual covenants and conditions contained herein, it is hereby agreed as follows: 1. Property Description This Agreement pertains to, and includes, those properties that are designated and identified as being: LEGAL DESCRIPTION THE LAKES AT VALLEY WEST - PHASE 513, SITUATED IN THE NE1/4 NW/14 OF SECTION 9, TOWNSHIP 2 SOUTH, RANGE 5 EAST, PRINCIPAL MERIDIAN, CITY OF BOZEMAN, GALLATIN COUNTY, MONTANA 2. Improvements This Agreement specifically includes the following improvements for THE LAKES AT VALLEY WEST SUBDIVISION-PHASE 5b; PUBLIC SIDEWALKS, INFRASTRUCTURE, PUBLIC LANDSCAPE AND IRRIGATION IMPROVEMENTS. The Estimated Cost of said improvements was estimated by Morrison-Maierlie Engineering, Inc., PO Box 1113 Bozeman, MT 59771, and the estimate has been revised and increased by the City, with the updated estimated cost of improvements being Forty four thousand and twenty dollars and zero cents. The estimate is attached and hereby made a part of this Agreement, as Exhibit "A". 3. Financial Guarantee, Time for Completion of Improvements, Additional Restrictions It is the Subdivider's intent with this Agreement to file the Final Plat prior to completion of all required subdivision improvements. Therefore, this Agreement shall be secured by two The Lakes at Valley West Subdivision-Phase 5b—Improvements Agreement Page 2 of 7 irrevocable standby letters of credit: Letter of Credit No. 68120572 and Letter of Credit No. 68120573 for a total amount not to exceed $500,000 fi•om Bank of America NA acceptable to the City of Bozeman, which is one hundred and fifty (150) percent of the Estimated Cost of said improvements. The Subdivider hereby agrees that the following subdivision related improvements shall be installed and completed not later than one (1) year of the filing of the final subdivision plat for THE LAKES AT VALLEY WEST SUBDIVISION-PHASE Sb in order to avoid default on the method of security: PUBLIC SIDEWALKS, INFRASTRUCTURE, PUBLIC LANDSCAPE AND IRRIGATION IMPROVEMENTS. The Subdivider agrees that no delegation of performance required by this agreement shall relieve the Subdivider of any duty to perform or any liability for the breach of that duty to complete said subdivision improvements required for THE LAKES AT VALLEY WEST SUBDIVISION-PHASE 5b. Upon submission of fully documented invoices for the work perforned, said work to be inspected and certified for payment by Subdivider's professional engineers and the City of Bozeman and or its agents as necessary, the City of Bozeman may release a portion of the letter of credit for the work completed by the referenced invoices. 4. Inspection Representatives of the City shall have the right to enter upon the property at any reasonable time in order to inspect it and to determine if the Subdivider is in compliance with this Agreement, and the Subdivider shall permit the City and its representatives to enter upon and inspect the property at any reasonable time. 5. Default Time is of the essence of this Agreement. If the Subdivider shall default in or fail to fully perform any of its obligations in conformance with the time schedule under this Agreement, and such default or failure shall continue for a period of thirty (30) days after written notice specifying the default is deposited in the United States mail addressed to the Subdivider at KS DevCor, Inc., 2880 Technology Blvd, Suite 273, Bozeman, MT 59718 or such other address as The Lakes at Valley fEest Subdivision-Phase Sb—Improvements Agreement Page 3 of 7 the Subdivider shall provide to the City from time to time, without being completely remedied, satisfied, and discharged, the City may elect to enforce any of the following specified remedies: A) The City may, at its option, declare the financial guarantee to be forfeited and secure the complete construction and inspection of the improvements described herein. The City's representative, contractors, and engineers shall have the right to enter upon the property and perform such work and inspection, and the Developer shall permit and secure any additional permission required to enable them to do so. In the event that any funds remain from the financial guarantee upon completion of all improvements, such funds shall be promptly returned to the Subdivider. B) The City may enforce any other remedy provided by law. 6. Indemnification The Subdivider hereby expressly agrees to indemnify and hold the City harmless for and against all claims, costs and liability of every kind and nature, for injury or damage received or sustained by any person or entity in connection with, or on account of the performance of work at the development site and elsewhere pursuant to this Agreement. Subdivider further agrees to aid and defend the City in the event that it is named as a defendant in an action concerning the performance of work pursuant to this Agreement except where such suit is brought by the Subdivider. The Subdivider is not an agent or employee of the City. 7. Attorney Fees In the event it becomes necessary for either party to this Agreement to retain an attorney to enforce any of the terms or conditions of this Agreement, then the prevailing party shall be entitled to reasonable attorney's fees and costs, including fees, salary, and costs of in-house counsel including City Attorney. 8. Warranty The Subdivider shall warrant against defects of all improvements and that these improvements are made in a good and workman-like manner for a period of two (2) years from the date of their written acceptance by the governing body. The Lakes at Valley TYest Subdivision-Phase Sb—Improvements Agreement Page 4 of 7 9. Governing Law This Agreement shall be construed according to the laws of the State of Montana. In the event of litigation concerning this Agreement, venue is in the Eighteenth Judicial District Court, Gallatin County, State of Montana. 10. Modification or Alterations No modifications or amendment of this Agreement shall be valid, unless evidenced by a writing signed by the parties hereto. 11. Invalid Provision The invalidity or unenforceability of any provision of this Agreement shall not affect the other provisions hereof, and this Agreement shall be construed in all respects as if such invalid or unenforceable provision were omitted. 12. No Assignment It is expressly agreed that the Subdivider shall not assign this Agreement in whole, or in part, without prior written consent to City. 13. Successors Except as provided in paragraph twelve (12), this Agreement shall be binding upon, ensure to the benefit of, and be enforceable by the parties hereto and their respective heirs, successors and assigns. 14. Filing The Subdivider shall have this Agreement recorded in the Office of the Gallatin County Clerk and Recorder within 10 business days of the signature of the Community Development Director. The Lakes at Valley West Subdivision-Phase Sb—Improvements Agreement Page 5 of 7 SUBDIVIDER BY:,4' -p' KS DEVC R, INC. TITLE: el�-- A�&sJde4t� STATE OF VV\u n& ) :ss County of C- ) On this 4 41, day of _ l0(-Lz, 2020, before me, a Notary Public of the State of personally appeared [�,rrz, ri.:Nor. , known to me to be the subdivider that executed the foregoing Improvements Agreement, and acknowledged to me that (s)he executed the foregoing instrument as Jar e P(e";eknk of KS DevCor, Inc., and acknowledged to me that (s)he executed the same for and on behalf of KS DevCor, Inc., IN WITNESS WHEREOF, I have hereunto set my hand and affixed my Notarial Seal the day and year first above written. (SEAL) u✓] _�'1 r� f�Ci�m�rtr' (Prin d Name Here) CYNTHIA M EDGMOND Notary Public for the State of Notary Public I�OYIT�i/IC OTAR/q O Residing at fUJZGly1L�/i YY1�/l ram. �•a:for the State of Montana -�: - Residing at: My Commission Expires:��.�,,,` Zvz'u .SEAL.-*,* Bozeman, Montana (Use 4 digits for expiration year) My Commission Expires: December 08,2020 The Lakes at Valley West Subdivision -Phase 5b—Improvements Agreement Page 6 of 7 THE CITY OF BOZEMAN BY. MART ATSEN, DIRECTOR OF COMMUNITY DEVELOPMENT CITY OF BOZEMAN STATE OF MONTANA ) :ss County of Gallatin ) On this day of lFkjIo "VC KJ� 2020, before me, a Notary Public for the State of Montana, personally appeared Martin Matsen, known to me to be the person described in and who executed the foregoing instrument as Director of Community Development for the City of Bozeman, whose name is subscribed to the within instrument and acknowledged to me that he executed the same for and on behalf of said City. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my seal on the day and year first written above. " ,, SH ,.'(LOOS "Ho' ` =o�LK100S1F9; NatatY Pobiic %W\fto � V��� P��� ��.�ot�R�At?c':for the State of Montana Residing at: (Printed Name Here) _* SFA[, ��;= Bozeman,Montana = ' �` My commission Expires: Notary Public for the State of Montana '9'�oFMo ,' March 17,zo21 Residing at7p=� UMAJI/1l My Commission Expires: ?, 2 p-h` (Use 4 digits for expiration year) The Lakes at Valley ff,est Subdivision-Phase Sb—Improvements Agreement Page 7 of 7