HomeMy WebLinkAbout20- Improvements Agreement - KS DevCor, Inc. - The Lakes at Valley West Subdivision Phase 6 Public Sidewalks, Street Lights, Infrastructure, Open Space Trails, Landscape, and Irrigation Imrprovements J-673
Send Original to:
City of Bozeman
Department of Community Development
P.O.Box 1230
Bozeman,MT 59771
PLATTED U�
2689012
Page: 1 of 7 07/14/2020 12:00:00 PM Fee: $49.00
Eric Semerad - Gallatin County, MT IMP
IIIIIII IIIIII III IIII IIIIIII IIIIII IIII IIII 111111111111111111111111111111 IIII IIII
IMPROVEMENTS AGREEMENT
FOR
THE LAKES AT VALLEY WEST SUBDIVISION—PHASE 6
(PUBLIC SIDEWALKS, STREET LIGHTS, INFRASTRUCTURE, OPEN SPACE
TRAILS, LANDSCAPE AND IRRIGATION IMPROVEMENTS)
THIS AGREEMENT is made and entered into this kr 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 6 (20095), to subdivide 1.901 acres
together and create seventeen (17) residential lots containing seventeen (17) single family
dwellings with three (3) lots approved for accessory dwelling units, two (2) common open space
lots, one (1) park tract, 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 6; and
WHEREAS, the Final Plat for THE LAKES AT VALLEY WEST SUBDIVISION -
PHASE 6, is to be filed prior to the installation of all required subdivision improvements and an
improvements agreement with financial security was provided; and
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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 6.
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 6, SITUATED 1N THE NEIA 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 6; PUBLIC SIDEWALKS, STREET LIGHTS,
INFRASTRUCTURE, OPEN SPACE TRAILS, 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 ONE HUNDRED
AND EIGHTY THREE THOUSAND SIX HUNDRED AND FOUTY SEVEN 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
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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
irrevocable standby letters of credit: Letter of Credit No. 68120572 and Letter of Credit No.
68120573 for a total amount not to exceed $275,470.50 from 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 6 in order
to avoid default on the method of security: PUBLIC SIDEWALKS, STREET LIGHTS,
INFRASTRUCTURE, OPEN SPACE TRAILS, 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 6.
Upon submission of fully documented invoices for the work performed, 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
The Lakes at Valley West Subdivision-Phase 6—Improvements Agreement Page 3 of 7
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 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 parry shall be
entitled to reasonable attorney's fees and costs, including fees, salary, and costs of in-house
counsel including City Attorney.
The Lakes at Valley West Subdivision-Phase 6—Improvements Agreement Page 4 of 7
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.
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.
The Lakes at Valley West Subdivision-Phase 6—Improvements Agreement Page 5 of 7
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.
SUBDIVIDER
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BY:,
KS DEVCOR,INC.
TITLE: 4!.c ��of cP�✓�
STATE OF )
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County of )
On this `-6 day of 2020, before me, a Notary Public of the State of
w ,personally appe d ' � , known to me to be the subdivider that
ecuted the foregoing Improvements AAreement, and acknowledged to me that (s)he executed
the foregoing instrument as Oice-Reoid-p 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) _/
" sT'"�, CHRISTIE LEE STANDIFORD (�.z <t"
' Notary Public
NOT�R�q'. __for the State of Montana rmted Name He �ti,&sn [E E 5TAN P 1 Fo,eU
„ Residing at: Notary Public for the State of Y)t j',
�;.SEAL P= Belgrade,' MontanaResidingat T?
, yLtT
MY Commission E)pires:
March 26,2023 1M Commission a Tres'
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(Use 4 digits for expiration year)
The Lakes at Valley West Subdivision-Phase 6—Improvements Agreement Page 6 of 7
THE CITY OF BOZEMAN
---wo" ,
BY: ARTIN TSEN,
DIRECTOR OF COMMUNITY DEVELOPMENT
CITY OF BOZEMAN
STATE OF MONTANA )
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County of Gallatin )
On this \3� day of 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.
SHANN N L KLOOSTERHOF
9 ,(SEA4ta y Public `.
y 'No rnR1q lb
for the State of Montana
Residing at:
SEAL.. Bozeman, Montana (Printed Name Here)
Moeo My Commission Expires: J Notary Public for the State of Montana
March 17,2021 Residing at "L�
My Commission Expires:
(Use 4 digits for expiration year)
The Lakes at Valley West Subdivision-Phase 6—Improvements Agreement Page 7 of 7