HomeMy WebLinkAbout93- IA for First Security Drive In Banking Facility IMPROVEMENTS AGREEMENT
FOR
FIRST SECURITY DRIVE-IN BANKING FACILITY
This AGREEMENT is made and entered into this _ � day of
1993 , by and between James W . Drummond, President ,
First Security Bank of Bozeman , hereinafter called the "Developer" ,
and the City of Bozeman , a municipal corporatioii of the State of
Montana, hereinafter called the "Cite" .
WHEREAS , it is the intent and purpose of the Developer to meet
the conditions of approval for the Conditional Use Permit
application allowing construction of a 3 , 000 square foot drive-in
banking facility on the property in question;
WHEREAS , it is the intent and purpose of the Developer to
obtain Final Site Plan Approval ;
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
on the property her•einaftei• described ; and it is the intent of this
Agreement , and of the parties hereto , to satisfy the improvements
guarantee requirements for the Final Site Plan approval of said
Conditional Use Permit .
NOW , THEREFORE , in consideration of the mutu:ll 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 a Tracts 3A-3 , 3B-1 , 3B-2
and Tract Four, Minor Subdivision No. 28 , and Tract A of Tract Two ,
Certificate of Survey No . 309 , and located in the Southwest One-
Quarter of Section 12 , Township 2 South , Range h East , M . P. 1 . ,
Gallatin County , Montana.
2 . Imp_rovements
This Agreement specifically includes the installation of
pavement , curb, gutter, sidewalk, landscape , landscape irrigation
41r,
system, exterior lighting , signs and other improvements as
illustrated on the plans and specifications hereto attached and
made a part of this Agreement ,
as Exhibit "A" . The estimated cost of said improvements is
attached and made a part of this Agreement , as Exhibit "B" .
3 . Financial Guarantee , Time for Completion of Improvements
If occupancy of any structure is to occur, prior to installa-
tion of the improvements , it must be secured by the financial
guarantee , as may be deemed acceptable by the City , payable to the
City of Bozeman, in an amount equal to one and one-half times the
estimated cost of the installation of any required improvements not
completed at that time .
In any event , all required improvements on the site as
delineated on Exhibit "A" , which is attached and made a part of
this Agreement , shall be completed within nine ( 9 ) months of
occupancy of any structure .
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 ( 5 ) days after
written notice specifying the default is deposited in the United
States mails addressed to the Developer at . e I A0 ,< 9 ( O
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 elect to enforce any of the following specified
remedies :
A ) The City may , at its option , declare the financial
I/
guarantee to be forfeited and secure the complete
construction and inspection of the improvements described
herein .
1 . The City ' s representative , contractors , and
engineers shall have the right to enter upon the
property and perform such wort: and inspection, and
the Developer shall permit and secure any
additional permission required to enable them to do
SO .
B ) The City may enforce any other remedy provided by law.
6 . Warrant-y
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- . all landscaped areas
required by this Agreement shall be permanently maintained by the
Developer pursuant to section 18 . 50 . 100 ( G ) of the Bozeman Area
Zoning Code .
7 . Governing Law
This agreement shall be construed according to the laws of the
State of Montana .
8 . Modification or Alterations
No modifications or amendment of this Agreement shall 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 Assi,. nment
Tt 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
3 � �
binding upon, enure to the benefit of , and be enforceable b� the
parties hereto and their respective heirs , successors and assigns .
DEVELOPER
Ja es W . Drummond , President
Fir -t Security Bank of
o7 man
STATE OF MONTANA 1
: ss
County of Gallatin )
On this /V dad- of ' tilQ- _ , 1993 , before me , a
Notary Public for the State of Nfont,)na , personally appeared James
W . Drummond known to me to be the person whose name is subscribed
to the within instrument and acknowledged to me that they executed
the same .
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my
Notarial Seal the day and year first above written .
No ry Public for the State
of Montana �
lie siding :_ A/
Commission Exl-)fees . Y /l1'5
( Notarial Seal )
THE CITY OF BOZEMAN
Ilt". 1 //2 ;4�, —
Phillip or bes
Director of Public Service
STATE OF MONTANA }
: ss
County of Gallatin )
On the _1 day of / 1 , 1993 , 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
sea] on the day and year First i:r•itten above .
Notar., Public for the `:tai e
of M iLana
Residing : Bozeman , Mo t.ana
Commission expires : 4t�.�M
( Notarial Seal )
-{
"EXHIBIT B"
ESTIMATED COST FOR IMPROVEMENTS
----------------------------- --------------------------------------------------------------------
DATE; May 18 , 1993
PROJECT : First Securit Bank Drive-in Facility - 670 So. 19t A e.
DEVELOPER: First Security Bank of Bozeman ::Tw
-------------------------------------------------------------------------------------------------
Iteiii Sq.Ft . /Ln . Ft . Contractor Est . Cost
Paving:
Asphalt 74, 620 sq. ft. $ 74 , 620 . 00
Concrete
Sidewalks : 2, 005 sq. ft. $ 3 , 808 . 50
Curbing: 2, 400 ln. ft. $ 19, 800 . 00
Landscape : 78, 680 sq. ft. $ 18 , 800 . 00
Landscape Protection : Included in curbing
Garbage Enclosure : (1) $ 3 , 000 . 00
Exterior Lighting : (15) $ 7, 500. 00
Water Improvements :
Sewer Improvements :
Street Improvements :
Total $127, 528. 50
�+ x 1 . 5 = $191 , 292. 75
L
Approved By City Engineering Office : -- Date : $