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HomeMy WebLinkAbout07- PT Land PUD Subdivision J-489 Inter-office Orieinal to: City of Bozeman Planning Department P.O.Box 1230 Bozeman,MT 59771-1230 IIIIII IIIII IIIII lllll IIIIII IIIIII IIIII III IIIII IIII IIII 2541929 P Charlotte Mills-Gallatin Co MTMISC 56.00 IMPROVEMENTS AGREEMENT PT LAND PUD SUBDIVISION THIS AGREEMENT is made and entered into this 5`N- day of AfdU&M4.t,2007, by and between PT Land,a Montana general partnership,Jerry Perkins.General Manager,511 North Wallace Street,Bozeman,MT 59715,hereinafter called the"Subdivider",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 PT Land PUD Subdivision to subdivide— 47 acres into — 18 commercial and open space lots, and streets on property located between Baxter Lane,North 11"'Avenue, West Oak Street, and North 150i Avenue, and legally described Tracts 2 and 3 of COS 1215F located in Section 1, T2S,R5E, P.M.M. City of Bozeman Gallatin County Montana; 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 subdivision 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 PT Land PUD Subdivision(Z06230/P06057)Improvements Agreement: Page lof 7 II�IIIIIIIIIIIIIIIIIIIIIIIIIIIl1 l `� 2295f 8 llll IIIII III III,110,IIII 03/27/20 0 02.29P Charlotte Mills-Gallatin Co MTMISC 56.00 as PT Land PUD Subdivision; Tracts 2 and 3 of COS 1215F located in Section 1 T2S R5E P.M.M., City of Bozeman, Gallatin County,Montana. 2. Improvements and Time for Completion of Improvements This Agreement includes all on-site and off-site subdivision improvements as shown in the Preliminary Plat Application,as conditioned in the Preliminary Plat approval,and as required by the Bozeman Municipal Code. Improvements include those below and listed in the attached Exhibit A, which is made part of this agreement. The list and cost of said improvements has been estimated by Morrison-Maierle, Inc., 3011 Palmer Street, Missoula,MT 59808. The Subdivider hereby agrees that the following improvements must be installed within one (1) year of the City Commission final plat approval: water, sewer, stormwater facilities, transportation facilities (streets, street lights, trails, sidewalks adjacent to public lands etc ) parks and common open space facilities and landscaping_The Subdivider hereby agrees that sidewalks adjacent to individual lots must be installed within three(3)years of the City Commission final plat approval, or with Building Permits for individual lots, whichever occurs first. 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 3. Financial Guarantee It is the Subdivider's intent to file the final subdivision plat prior to the completion of subdivision improvements. Therefore, this Agreement shall be secured by a financial guarantee valid for at least eighteen (18) months which is one hundred and fifty (150) percent of the estimated cost of said improvements,including private sidewalks.The financial guarantee is in the form of an irrevocable letter of credit issued by Mountain West Bank, in the amount of $1.350,728,No. 71 dated Novemer 1, 2007; with an expiration date of May 1, 2009. It is the Subdivider's intent to file the final subdivision plat prior to the completion of sidewalks adjacent to individual lots. Prior to expiration of the above described financial Guarantee,this Agreement shall be secured by a financial guarantee valid for at least twenty- four (24) months and not expiring prior to forty-two (42) months from the date of final plat approval which is one hundred and fifty (150) percent of the estimated cost of sidewalks adjacent to individual lots.The financial guarantee is in the form of acash held by the City,in an amount to be approved by the City Engineer. 4. Inspection Representatives of the City shall have the right to enter upon the property at any reasonable PT Land PUD Subdivision(Z06230/P06057)Improvements Agreement: Page 2 of 7 1111111111""'1111IIII 2295419f P Charlotte Mills-Gallatin Co MTMISC 56.00 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 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 Subdivider at PT Land,a Montana general partnership, Jerry Perkins,General Manager, 511 North Wallace Street Bozeman MT 59715, 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 Subdividers shall permit and secure any additional permission required to enable them to do so. In the event that any funds remain from the financial guarantee upon completion of all improvements, such funds shall be promptly returned to the Subdividers. b. The City may enforce any other remedy provided by Iaw. 6. Indemnification The Subdivider shall indemnify,hold harmless,and defend the City of Bozeman against any and all claims,at Subdivider's own expense,arising out of or resulting from the acts or omissions of Subdivider or his/her agents, employees, or contractors, whether negligent or otherwise, in connection with the performance of work described in this agreement.The City shall be responsible for any claims arising from negligence or willful misconduct on the part of the City or its agents or employees,except the Subdivider shall be responsible for those claims of negligence and misconduct arising from the Subdivider, his/her agents, or employees not providing to the Municipality, its agents or employees,information relevant to the subject matter of this agreement.The parties shall cooperate in the defense of Claims and shall furnish records,information,and testimony and attend proceedings, as may be reasonably necessary. 7. NVarranty The Subdivider shall warrant against defects of all improvements and that these improvements are made in a good and workman-like manner for a period of two(2)years from the PT Land PUD Subdhision (Z06230/P06057)Improvements Agreement: Page 3 of 7 11111111111IIIIIIII IIII 2295f 8 Charlotte Mills-Gallatin Co MTMISC 56.00 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, , including fees, salary and costs of in-house counsel including City Attorney. 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 The responsibilities and benefits of this Agreement to the Subdividers may not be assigned without the express written approval of the City. Such approval may not be withheld unreasonably, but any unapproved assignment is void. There is no prohibition on the right of the City to assign its rights under this Agreement.The City shall release the original Subdividers from their liability under this agreement if it accepts and approves a proper assignment from any developer or lender who obtains the property. 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. 14. Filing The Subdivider shall have this Agreement recorded in the Office of the Gallatin County Clerk and Recorder at the same time the Final Plat is filed. PT Land PUD Subdivision (Z06230/P06057) Improvements Agreement: Page 4 of 7 �111111111111$111111 IJljjl 1$Il 11111111 lll:':IlI Jill 2295f419P Charlotte Mills-Gallatin Co MTMISC 56.00 P PERTY'MR PT0,and, ontana general partnership Jerry Perkins,General Manager 511 North Wallace Street,Bozeman,MT 59715 STATE OF Mm(rW4 ) :ss County of 61'4t"r'j ) On this day of N ti v1M L , 2007, before me, the undersigned, a Notary Public for the State of Montana, personally appeared Jerry Perkins, known to me to be the General Manager, of PT Land, a Montana general partnership, the partnership that executed the within instrument,and acknowledged to me that he executed the same for and on behalf of said partnership. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my Notarial Seal the day and year first above written. •� MC" (Signature above) (Printed Name above) Notary Public for State of Montan Residing at: �Z ` Commission Expires: y 3 ML010 ° r (Use 4 digits for expiration year) PT Land PUD Subdivision(Z06230/P06057)Improvements Agreement: Page 5 of 7 (IIIII IIIII IIIII IIIII IIIII IIIIi�IIIII 11111111111,1(III 2295f 8 Charlotte Mills-Gallatin Co MTMISC 56.00 TH ITY OF BOZEM An C. Epple,AICP Planning Director STATE OF MONTANA ) :ss County of Gallatin ) On this day of_ C�f (' V , 2005, before me, a Notary Public for the State of Montana,personally appeared Andrew C. Epple, AICP,known to me to be the person described in and who executed the foregoing instrument as Planning Director 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. \`\ �' (Signature above) t \��\ Lc E y �i cx�r c� ��r (Seal) Q.Q'. • . S'>,!% (Printed Name above) �pTARIi %�O% Notary Public for State of Montana Residing at: iB t\,7 c- • , *= Commission Expires: L ,�^t �'. SFAL .•Q. (Use 4 digfff for expiration year) 1�,F;wq�, PT Land PUD Subdivision (Z06230/P06057)Improvements Agreement: Page 6 of 7 . Cost Estimate 111111111111111111111111111111111111111111111111111111122,95f 6 Exhibit A. Charlotte Mills-Gallatin Co MTMISC 56 ©© EXHIBIT"A" PT LAND SUBDIVISION PHASE 1 IMPROVEMENTS AGREEMENT ESTIMATED COST OF SUBDIVISION IMPROVEMENTS Date 2/5/2008 Project. PT Land Phase 1 Developer:PT Land ITEM IMPROVEMENT DESCRIPTION ESTIMATED COST Construct North 15th Avenue from current existing terminus 1 Street Improvements east to Patrick Street and construct Patrick Street between $ 118,000 North 141h Avenue and North 15th Avenue. 2 Public Pedestrian Facilties Sidewalk adjacent to open space and trail along Oak. $ 29,000 3 Private Pedetrian Facilities Sidewalk adjacent to private lots. $ 5,100 Construct signal at North 15th Avenue and Oak Street 4 Traffic Signal $ 325,000 including striping and pedestrian crossings. 5 Water Main Extension Relocate 1504 lineal feet of water main and a pressure $ 168,100 reducing valve station. Construct 1831 lineal feet of 8 inch sanitary sewer to serve 6 Sewer Main Extension $ 187,600 Phase 1. 7 Storm Water Improvements Construct storm water infrastructure to serve Block 1 and $ 47.685 public street improvements. Install street trees,seed and irrigation as required along public 8 Street Trees and Irrigation s $ 20,000 streets. SUBTOTAL $ 900,485 Amount to be Financially Secured 150%times the cost of the improvements $ 1,350,728 PT Land PUD Subdivision (Z06230/P06057)Improvements Agreement: Page 7 of 7 /X\OUNTA ' N WEST BAN K7 N.A. Illlllllllllllllllll ll 29541 IIIIII IIIIII IIII IIII IIIII IIII IIII o3!27/2008 02.29P November 30, 2007 Charlotte Mills-Gallatin Co MTMISC 56.00 Gallatin County Weed Control District 901 North Black Bozeman, MT 59715 Re: $16,833.00 Irrevocable Standby Letter of Credit for Gallatin County Control Weed District Letter of Credit No. 75. To Whom It May Concern: Mountain West Bank hereby issues its $ 16,833.00 Irrevocable Standby Letter of Credit for Gallatin County Weed Control District, which is available to you by your draft or drafts drawn on us at sight, bearing the following language: "Drawn under Irrevocable Standby Letter of Credit No. 75 dated November 30, 2007." Your draft must also include the following signed statement with documents: Jerry Perkins, managing member of PT Land, has failed to complete the improvements according to the terms specified in the attached Weed Management Improvements Agreement for Tracts 2 and 3 of COS 1215F and the Gallatin County Weed Control District has complied with the notice provision in said Agreement. This Letter of Credit expires on May 1, 2009 at noon. Mountain West Bank hereby agrees to honor each draft drawn under and in accordance with the terms of this Irrevocable Letter of Credit if duly presented at its banking office in Bozeman on or before the expiration date. Except as otherwise stated, this Irrevocable Letter of Credit is subject to the uniform Customs and Practice of Docui-nentary Credits, published by the International Chamber of Commerce and in effect as of the date thereof. Sincerely, Paul Pa ut Vice President and Authorized Signer Attachment A to the Improvements Agreement for PT Land Phase 2 Subdivision (including the PT Land Phase 1 Improvements Update) The final plat application for this subdivision is prior to the completion of all required improvements. The following improvements are to be completed within three (3) years of the date of Completion and Acceptance by the City of Bozeman, which was August 28. 2008. Phase 1 Improvements Original Updated 06109 Street Improvements $118,000 $0 Public Pedestrian Facilities $5.100 Oak St. Asphalt Trail 64 TN @$52/TN $3,328 Private Pedestrian Facilities $29,000 Concrete Sidewalks (4"depth) 9.120 SF @ 4.50/SF $41,040 Traffic Signal $325,000 $0 Water Main Extension $168,100 $0 Sewer Main Extension $187.600 $0 Storm Water Improvements $47,685 $0 Street Trees and Irrigation $20.000 $20,000 Phase 2 Improvements Original Concrete Sidewalks (4"depth) 6,460 SF 0 $4.75/SF $30,685 Street Trees and Irrigation Boulevard Trees 24 Trees 0$200/EA $4.800 Boulevard Irrigation 1 LS Ca)$3,5001LS $3,500 Boulevard Seed/Topsoil 8,400 SF @ $0.50/SF $4,200 Street Lights 3 EA 0$5,225/EA 1 7 Total $123,228 Financial Guarantee @ 150% $184,842.00 A letter of Credit from Mountain West Bank, in the amount of$184.842.00 to cover outstanding improvements is included. All improvements will be completed in accordance with approved plans and specifications. N:13948\0=Design Docs\Plattinglletter of credit-phase 2-attachment A-.doc