HomeMy WebLinkAbout91- IA for Comfort Inn IMPROVEMENTS AGREEMENT
FOR
COMFORT INN
THIS
"AGREEMENT is made and entered into this 31 day of
0( w , 1991 , by and between Gene Cook , lessee with an option
to purchase the property at 1370 North 7th 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 Major Site Plan application #Z-9154
allowing the construction of a three story, sixty seven unit hotel
and related parking , landscaping , and site improvements on a 2 . 76
acre artificial lot in the northwest 1 /4 of Section 1 , T2S , RSE ,
P. M .M. , Gallatin County , Montana, and more commonly known as 1370
North 7th Avenue.
WHEREAS , it is the intent and purpose of the Developer to
satisfy the conditions of approval for Major Site Plan application
#Z-9154 ; 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 Major 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 the property
which is designated and identified as a 2 . 76 acre artificial lot
located in the northeast 1 /4 of Section 1 , T2S, RSE , P.M. M . in
Gallatin County , Montana, and more commonly known as 1370 North 7th
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 , paving and curbing , garbage enclosure, and
sidewalks . Additionally , this Agreement includes the itemized
Final Cost of Improvements which is attached and made a part of
this Agreement as "Exhibit B" and "Exhibit B-1 " .
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 nine 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 2504 West Main
Street, 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
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.
Gene Cook , lessee of
1370 North 7th Avenue ,
Bozeman , Montana
STATE OF MONTANA )
: ss
County of Gallatin )
On this j_ day of � 1, 1991 , before me , a Notary
Public for the State of Montana, personally appeared Gene Cook ,
known to me to be the lessee of the property at 1370 North 7th
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 Sta e of Montana
Residing
Commission Expi r
( SEAL )
THE CITY OF BOZEMAN
Phillip or es
Direct o Public Service
STATE OF MONTANA )
: ss
County of Gallatin )
On the /-/Ck day of 1991 , 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.
C�
Notary Public for the State of Montana
Residing at: '60'S.G2
Commission Expires : A4, 41,141A
(SEAL)
4
"EXHIBIT B"
ESTIMATED COST FOR IMPROVEMENTS
- ------------------------------------------------------------------------------------------------
DATE: 29 OCT. 91
PROJECT:Comfort Inn Major Site Pfan
DEVELOPER: Gene Cook
------------------------- -------------------------- -- --------------------------------------
Item- Sq,Ft , /Ln . Ft . Cost Per Unit Fst , Cost
- riving: 1 . 00/SF $40 , 747. 00
Asphalt 40 , 747 SF r
Concrete
Sidewalks : 3 , 340 SF 1 . 90/SF 6, 346 . 00
Curbing: 1 , 825 LF 8 . 25/LF 15, 056 . 00
Landscape:
SEE EXHIBIT B-1 14, 200 . 00
Landscape Protection:
Garbage Enclosure : 1 unit 500 . 00 each 500 . 00
r'xterior Lighting: 4 units 350 . 00 each 1, 400 . 00
Water Improvements :
Sewer Improvements :
Street Improvements :
TOTAL COST $ 78 ;249
COST X 1.5 = $117, 370
Approved By City Engineering Office: , ,�. �, Date :
EXHIBIT B-1
COMFORT INN
LANDSCAPING ESTIMATE
Item Quantity Cost/Unit Total
Colorado Spruce 4 $100 .00 $ 400.00
Radiant Crab 3 185 . 00 555.00
Quaking Aspen 28 49 . 00 1 ,373.00
Scotch Pine 12 42 . 00 504.00
Canada Red Choke Cherry 12 46 . 00 552.00
Patmore Green Ash 10 275 . 00 2,750.00
Pfitzer Juniper 18 22 . 00 396.00
Caragana 225 2 . 50 562.50
Peking Cotoneaster 11 12 . 00 132.00
Norway Maple 2 265 . 00 530.00
grass 30 , 693 SF . 21 /SF 6 , 446 . 00
TOTAL $14,200.00