HomeMy WebLinkAbout91- IA for Tracy Townhouses IMPROVEMENTS AGREEMENT
FOR
TRACY TOWNHOUSES
THIS AGREEMENT is made and entered into this .7r� day of
.'4 1991 , by and between Doug Hoxsey , authorized
representative for Marguerite Christensen , owner of the property
at 1516 South Tracy Avenue , located in Bozeman , Montana,
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 Minor Site Plan application #Z-9190
allowing the construction of a 3 unit, approximately 5 , 800 square
foot townhouse building and related site improvements on Lot 2 of
Block 1 , Thompson ' s 4th Addition in the City of Bozeman , Montana,
and more commonly known as 1516 South Tracy Avenue .
WHEREAS, it is the intent and purpose of the Developer to
satisfy the conditions of approval for Minor Site Plan application
#Z-9190 ; 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
associated 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 Minor Site
Plan application.
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 Lot 2 of Block 1 , Thompson ' s
4th Addition in the City of Bozeman, Montana, and more commonly
known as 1516 South Tracy Avenue.
2 . Improvements
This Agreement includes the installation of all required
landscaping and site improvements , and other improvements as
depicted on the approved Final Landscaping and Final Site Plans
including landscaping , curbing , sidewalks, and paving.
Additionally , this Agreement includes the itemized Final Cost of
Improvements which is attached and made a part of this Agreement
as "Exhibit B. " .
3 . Financial Guarantee , Time for Completion of Improvements
If occupancy is to occur prior to installation of all required
landscaping and site 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 date of 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 )
days after written notice specifying the default is deposited in
the United States mail addressed to the Developer at 234 East
Babcock , Bozeman , Montana 59715 , 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
2
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 ;
B. The City may , at its option , declare that the conditions
of approval of the Minor Site Plan application have not been
satisfied and are in violation of Section 18. 52 of the Bozeman
Zoning Code and thereby nullify said approval ; or
C. ) 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 the 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 .
10 . No Assignment
It is expressly agreed that the Developer shall not assign
this Agreement in whole , or in part, without prior written consent
from the City .
11 . Sucessors
3
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.
Dou oxsey , orized
repr sentive fo arguerite
Christensen , owner of
1516 South Tracy Avenue,
Bozeman , Montana
STATE OF MONTANA )
: ss
County of Gallatin )
On this 6-,X6- day of 1990 , before me , a Notary
Public for the State of Montana, personally appeared Doug Hoxsey ,
known to me to be the authorized representative for Marguerite
Christensen , owner of the property at 1516 South Tracy Avenue,
Bozeman , Montana, and acknowledged to me that he executed the same
for and on behalf of said establishment.
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 Montana
Residing at:
Commission Expires: 9,2
( SEAL )
THE CITY OF BOZEMAN
IV-.Al-
PhTllip Fo s
Director of P blic Service
STATE OF MONTANA )
: ss
County of Gallatin )
c
On the _ day of GG 1990 , before me , a Notary
Public for the State of Monta a, 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.
6-16
14
Notary ublic fo t e of Montana
Residin at:Commis ion
ion Expires : e 2—
( SEAL )
4
"EXHIBIT B"
ESTIMATED COST FOR IMPROVEMENTS
• -------------------------------------------------------------------------------------------•-•--
DATE: 5 August 1991
PROJECT: Tracy Townhouses; 1516 S. Tracy
DEVELOPER: Doug' Hoxsey
----------------------------------=------------ -----'-------------------------------------------
Item- Sq.Ft , /Ln , Ft . Contractor F-st , Cost
Paving:Asphalt 6, 102 SF 1 . 00/SF $6, 102
�
Concrete
Sidewalks : 223 SF 1. 90/SF 424
Curbing: 259 LF 8 . 25/LF 2, 136
Landscape: 5 , 761�of grass at . 21/SF and 22 quaking aspens/49. 00 each 2, 288
Landscape Protection:
Garbage Enclosure:
Exterior Lighting:
Water Improvements:
Sewer Improvements:
Street Improvements :
TOTAL
X 1 . 5
GRAND TOTAL
Approved By City Engineering Office: Date: