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HomeMy WebLinkAbout07- Loyal Garden Major Subdivision, Phase 1B J-476 Send Orig al to: City of Bozeman Planning Department P.O.Box 1230 Bozeman,MT 59771 i PL.?TTl�D IIIIIIIIIIIIII 22: 1 f 7 II IIIIIII III III IIIIIIIIIIIIIIII Iilllllll 10J15/200 .7 03.48P Charlotte Mills-Gallatin Co MTMISC 49.00 Loyal Garden Major Subdivision Phase 1B #P-07031 IMPROVEMENTS AGREEMENT FOR LOYAL GARDEN MAJOR SUBDIVISION, PHASE 1B BOZEMAN,MONTANA L THIS AGREEMENT is made and entered into this day of ,2007,by and between Covenant Investments,Inc., P.O. Box 11428,Bozeman,MT 59719 hereinafter called the "Subdividers",and the City of Bozeman,a Municipal Corporation and political subdivision of the State of Montana, with offices at 411 East Main Street, 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 approval of a major subdivision preliminary plat application for Loyal Garden Major Subdivision Phase 1B to divide 35 acres into 106 lots (Planning Application No. P-07031) on property generally located on the southwest comer of Huffine Lane and Cottonwood Road;and WHEREAS,it is the intent of the Subdivider to obtain Final Plat approval;and 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 on the property hereinafter described;and it is the intent of this Agreement,and of the parties hereto,to satisfy the requirements and guarantee improvements for the conditional approval of said major subdivision application. NOW, THEREFORE,in consideration of the mutual covenants and conditions contained herein,it is hereby agreed as follows: Improvements Agreement Page 1 2281624 IIIIIIIIIIII IIIII IIIIIIIIII IIIIIII IIIII IIIIi��I IIIIIIII Page:01512007 03.48P Charlotte Mills-Gallatin Co MTMISC 49.00 Loyal Garden Major Subdivision Phase I #P-07031 1. Property Description This Agreement pertains to and includes those properties which are designated and identified as follows: All lots, streets, public park and private open space platted within Loyal Garden Major Subdivision Phase 1B, located within the NE I/4, Sec. 16, T2S, R5E, City of Bozeman,Montana 2. Improvements This Agreement specifically includes propea pins curb bulb painting street lights sidewalks landscaping and park improvements as illustrated on the plans and specifications contained in the City Engineering Department and Planning Department files. The estimated cost of these improvements is $170,385.20. 3. Financial Guarantee,Time for Completion of Improvements It is the Subdividers intent to file the final subdivision plat prior to the completion of said improvements. Therefore, this Agreement shall be secured by a financial guarantee in the form of a Letter of Credit, No. 06-07 issued by Valley Bank, dated September 25, 2007 with a maturity date of September 28,2008 in the amount of 255 577.80,which is one and one-half times the estimated cost of the installation of all required improvements. The Subdivider hereby agrees that the_propertypins, sidewalks by owner and curb bulb painting shall be completed prior to issuance of a building permit;the street 4hts shall be installed prior to occupancy and the landscaping and park improvements shall be installed by August 13, 2008; and all interior sidewalks adjacent to individual lots shall be installed by August 13, 2010. In any event, all required improvements shall be completed within the time frame provided herein for the completion of the improvements in order to avoid default on the method of security. 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 for this Agreement. If the Subdivider shall default in or fail to fullyperform 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 Improvements Agreement Page 2 l�hllI�IfIIIIIIIII �� 2 3 of 7 IIIII IIII IIII �Page:,1 51 2007 03 48P Charlotte Mills-Gallatin Co MTMISC 49.00 Loyal Garden Major Subdivision Phase 1B #P-0703I 11428,Bozeman,MT 59719,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 Subdivider 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. 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. The 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. Warranty The Subdivider shall warrant against defects in these improvements for a period of two years from the date of their written acceptance by the Governing Body. 8. Governing Law and Venue This Agreement shall be construed under and governed by 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. 9. Attorney's 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 party shall be entitled to reasonable attorney's fees and costs,to include the salary and costs of in-house counsel including City Attorney. improvements Agreement Page 3 IIIIII IIIII IIIII IIIIIII III IIIIIII IIIII III IIIII IIII IIII 2281 f 7 Charlotte Mills-Gallatin Co MTMISC 49.00 Loyal Garden Major Subdivision Phase 1B #P-07031 10. Modifications or Alterations No modifications or amendment of this Agreement shall be valid, unless agreed to in writing 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 of the City. 13. Successors Except as provided in paragraph 12,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. Improvements Agreement Page 4 IIIIII 2 281624 02IIIIIIIIIIIIIIIIIIIIIIIIIlilllillllltIllilll11 , „5, 0 of 7 ©7 Charlotte Mills-Gallatin Co MTMISC 49.00 03.48P Loyal Garden Major Subdivision Phase 1B #P-07031 SUBDIVIDER Dewin Ma A, President Covenant Investments,Inc. STATE OF MONTANA ) :ss County of Gallatin ) On this 1-1 day of , 2007, before me, the undersigned, a Notary Public for the State of Montana, pe nally appeared Dewin Madill, known to me to be the President of Covenant Investments, Inc. the corporation that executed the within instrument, 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. 71. Printed Nam ���'• ~� Notary Public for the State of Montana :r Residing at Bozeman,Montana My Commission Expires l ' (Use 4 digits for expiration year) Improvements Agreement Page 5 11111111111111111111111111111111111111111111111122 6 of 7 10J15J2007 03.48P Charlotte Mills-Gallatin Co MTMISC 49.00 Loyal Garden Mai or Subdivision Phase 1B #P-0703I THE�CITY OF BOZEMAN J- C Andrew C. Epple,Director Department of Planning&Community Development STATE OF MONTANA ) :ss County of Gallatin ) On the day of ,2007,before me,a Notary Public for the State of Montana personally ear Andrew C.E le known p y a pp pp own to me to be the person described in and who executed the foregoing instrument as Director of Planning and Community Development 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 City. IN WITNESS WHEREOF,I have hereunto set my hand and affixed my seal on the day and year first written above. (SEAL) I.) ^ „ ;J Printed Name —a.ii'l � Notary Public for State of Montana Qom, Residing at:Bozeman, Nontana o 0TAR/,q Commission Expires: .' (Use 4 digits for expiratio year) _ _ SEAL .' Improvements Agreement Page 6 IIIII 1111111111111111111111111111111111111111111111112281624 10/15l2007 03.48P Charlotte Mills-Gallatin Co MTMISC 49.00 EST. UNIT DESCRIPTION )UANTIT` UNIT PRICE AMOUNT Street Improvements 5' Sidewalk (by owner) 4,289 SF $2.85 $12,223.65 5' Sidewalk(private) 22,975 SF $2.85 $65,478.75 6'Sidewalk(by owner) 600 SF $3.25 $1,950.00 Signage and Pavement Marking Property Pins LS $4,000.00 Curb Bulb Painting 120 LF $1.94 $232.80 Landscaping Parks Improvements landscaping per Land Design Inc. $64,900.00 Street Lights 12 EA $1,800.00 $21,600.00 Phase 1 B Total $170,385.20 Phase 1 B Total (with 150%) $255,577.80