HomeMy WebLinkAbout90- IA for Kmart Corporation �z��rta" COrPoration
IMPROVEMENTS AGREEMENT SE P ; 8 1990
FOR a DESIGN PIN-
K mart CORPORATION
THIS AGREEMENT is made and entered into this 18th day of
September , 1990 , by and between K mart Corporation of Troy ,
Michigan , hereinafter called the "Developer" , and the City of
Bozeman , a Municipal Corporation of the State of Montana,
hereinafter called the "City" .
WHEREAS, it is the intent and purpose of the Developer to meet
the conditions of approval for Major Site Plan Application #Z-9007
allowing the construction of a 26 , 000 square foot addition to an
existing retail store at 1126 North 7th Avenue on Lots 1 and 2 of
Block 4 , Westlake ' s 4th Addition , in the City of Bozeman , Montana,
and more commonly known as 1126 North 7th Avenue, Bozeman , Montana;
and
WHEREAS, it is the intent of the Developer to satisfy the
conditions of approval for Major Site Plan Application #Z-9007 ; and
WHEREAS, it is the intent and purpose of both the Developer
and the City to hereby enter into an Agreement which will guarantee
the full and satisfactory completion of the required improvements
associates with the property hereinafter described ; and it is the
further intent of this Agreement, and of the parties hereto, to
satisfy the improvements guarantee requirements for the Major Site
Plan .
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
which are designated and identified as Lots 1 and 2 , Block 4,
Westlake' s Fourth Addition , in the City of Bozeman , Montana, and
more commonly known as 1126 North 7th Avenue , Bozeman , Montana.
2 . Imp_rovements
This Agreement specifically includes the participation in the
cost ( estimated to be about $10, 000 ) for city crews to pave North
5th Avenue from Tamarack to Hemlock with recycled pavement
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millings . The applicant' s level of participation would be
determined through post-paving traffic counts and would be limited
to a maximum of forty percent (40%) of the project costs or Four
Thousand Dollars ($4 ,000 . 00 ) whichever is less.
This Agreement also includes the installation of all required
parking and landscaping improvements , storm detention area, and
other improvements as depicted on the approved Final Landscaping
and Final Site Plans and itemized on the Estimated Cost of
Improvements which is attached and made a part of this Agreement
as "Exhibit B" .
3. Financial Guarantee, Time for Completion of Improvements
The applicant's share of the paving costs as described above
will be assessed and payable after post-paving traffic counts are
determined by the Director of Public Service. In any case, the
applicant' s share of the above-described paving costs will be
payable to the City no later than 90 days after notification of
assessment by the Director of Public Service .
If occupancy is to occur prior to installation of all required
landscaping improvements, the Developer shall submit to the City
an irrevocable letter of credit or bond in the amount of 150
percent of the cost of all uninstalled improvements . Foreclosure
proceedings shall be brought against the letter of credit or bond
if the required improvements have not been completed within twelve
months of the posting of the bond or letter of credit.
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 Developer is in compliance with this Agreement,
and the Developer 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 Developer
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 )
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days after written notice specifying the default is deposited in
the United States mail addressed to the Developer at 3100 West Big
Beaver Road , Troy , Michigan 48084 , or such other address as the
Developer 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 .
A . The City may , at its option , declare that the
conditions of approval of the Major Site Plan
Application have not been satisfied in violation of
Section 18 . 52 of the Bozeman Zoning Code and thereby
nullify said approval ; or
B) The City may enforce any other remedy as provided by
law.
6 . Warranty
The Developer shall warrant against defects in these
improvements for a period of one year from the date of their
written acceptance by the Governing Body.
7 . Governing Law
This Agreement shall be construed according to the laws of the
State of Montana.
8 . Modifications or Alterations
No modifications or amendment of this Agreement shall be
valid , unless evidenced by a writing signed by the parties hereto.
9. 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.
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10 . No Assignment
It is expressly agreed that the Developer shall not assign
this Agreement in whole, or in part, without prior written consent
to City .
11 . Successors
Except as provided in paragraph 10 , this Agreement shall be
binding upon , enure to the benefit of , and be enforceable by the
parties hereto and their respective heirs, successors and assigns.
Mike Skiles , Vice President
K mart Corporation
STATE OF MICHIGAN )
:ss
County of Oakland )
On this 18th day of September 1990 , before me , a Notary
Public for the State of Michigan , personally appeared Mike Skiles,
known to me to be the Vice President of K mart Corporation , and
acknowledged to me that he executed the same for and on behalf of
said Corporation .
IN WITNESS WHEREOF , I have hereunto set my hand and affixed
my Notarial Seal the day and year first above written.
Notary Public for the State of Michigan
Residing at:
Commission Expires :
IRENE F.HAM
( SEAL ) NotWy Public Macomb County Michigan
My commission expires 7124191
Acting in Oakland County THE CITY OF BOZEMAN
Pfiillip J . or es
Director of Public Service
STATE OF MONTANA )
: ss
County of Gallatin )
On the day of 1990 , before me , a Notary
Public for the State of Montana, personally appeared Phillip J .
Forbes , known to me to be the person described in and who executed
the foregoing instrument as Director of Public Service of 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.
Notary Public for State of Montana
Residing at: h`C _
Commission Expire
(SEAL)
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"EXHIBIT B"
ESTIMATED COST FOR IMPROVEMENTS
-..-- -----------------------------------------------------------------------------------------
DATE: R-in_gn
PROJECT: K-Mart Expansion
DEVELOPER: K-Mart Corporation, Troy, Michigan
-------------------------------------------------------------------- ----------------------------
Item- Sq ,Ft . /Ln . Ft . Contractor Est . Cost
Paving:
Asphalt - Cutting, removal, etc. Per ragtnn PnginP_ ar g in F-St $ 4 , 087 . 50
Asphalt - paving, base, etc. " $12, 220 . 00
Concrete - curbs , waterways, etc. " " $17, 540 . 00
Sidewalks :
Curbing: LnFt
Landscape: See Final Approved Landscape Plan - Cashman Nursery $47 , 277
Landscape Protection:
Garbage Enclosure :
Exterior Lighting:
STOW DETENTION-FACILITY Per Gaston Fngi neeri nq F.gt- _ S 5 , 956 . 00
Sewer Improvements :
50% of project
Street Improvements : Paving of N. 5th between Tamarack and Hemlock costs or $5, 000
w is ever is less
Pavement Demolition (included above)
TOTAL: $92, 080 . 50 ,
�•S /39)
Approved By City Engineering Office : Date ; -'?-90