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Home My WebLink About94- Empire Federal Savings and Loan IMPROVEMENTS AGREEMENT Empire Federal Savings and Loan 5 West Mendenhall Street, Bozeman, MT 59715 THIS AGREEMENT is made and entered into this 3 o th day of November, 1994, by and between Empire Federal Savings and Loan, 5 West Mendenhall Street, Bozeman, MT 59715, 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 of the Developer to obtain Final Site Plan approval; 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 on the property hereinafter described; and it is the intent of this Agreement, and of the parties hereto, to satisfy the improvements guarantee requirements for the conditional approval of said Minor Site Plan. 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 property which is designated and identified as Lots 1-8, Block "A", Tracy's Second Addition and is more commonly known as 5 West Mendenhall Street, Bozeman, MT 59715. 2. Improvements This Agreement specifically includes improvements as illustrated on the plans and in the 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 either structure is to occur prior to the installation of all required improvements, the Improvements Agreement must be secured by a 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. Said method of security shall be valid for a period of not less IMPROVEMENTS AGREEMENT Empire Federal Savings and Loan Page -2- than twelve (12) months. In any event, all required improvements shall be completed 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 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 any 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 5 West Mendenhall Street, Bozeman, MT 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 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 work and inspection, and the Developers shall permit and secure any additional permission required to enable to do so. B) The City may enforce any other remedy 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. Any required IMPROVEMENTS AGREEMENT Empire Federal Savings and Loan Page -3- landscaping must be maintained in a healthy, growing condition at all times. Any plant that dies must be replaced with another living plant that complies with the approved plans. 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 this Agreement shall be valid, unless evidenced in 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 sole, or in part, without prior written consent from the City. 11. Successors Except as provided in paragraph 10, this Agreement shall be binding upon, ensure to the benefit of, and be enforceable by the parties hereto and their respective heirs, successors and assigns. (continued) IMPROVEMENTS AGREEMENT Empire Federal Savings and Loan Page 4- EMPIRE FEDERAL SAVINGS AND LOAN BY: Ernest A. Sandberg STATE OF MONTANA ) Executive Vice President :Ss County of JUUtj@tkX ) PARK On this 30 th day of November, 1994, before me, a Notary Public for the State of Montana, personally appeared Ernest A. Sandberg , known to me to be the Exec. vice Presidentof Empire Federal Savings and Loan, the corporation who executed the foregoing Improvements Agreement, 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. otary Pulilic for the State of Montana Residing at*hY_XJDM LIVINGSTON Commission Expires: 1.9 qp CITY OF BOZEMAN STATE OF MONTANA ) By_ :ss phi lli p J. rbes County of Gallatin ) Director of Public Service On this ,�,,i day of Nwmmbsr, 1994, 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. I WITNESS WHEREOF, I have hereunto set my hand and affixed my seal on the day and ear firs��tten above. -.-'--"Notary Public for the State of Montana Residing at Bozeman Commission Expires: "EXHIBIT B" ESTIMATED COST OF IMPROVEMENTS EMPIRE FEDERAL SAVINGS AND LOAN 5 WEST MENDENHALL STREET PROJECT: #Z94106 MINOR SITE PLAN TO ALLOW FOR THE EXPANSION AND RENOVATION OF AN EXISTING BANK FACILITY. DEVELOPER: EMPIRE FEDERAL SAVINGS AND LOAN ITEM SQ.FT./LN.FT./QNTY. COST/UNIT EST COST. Asphalt paving 4,656 sq. ft. $ 1.25/sq.ft. $ 5,820.00 Alley paving 2,200 sq. ft. $ 1.25/sq.ft. $ 2,250.00 Concrete flat work 1,568 sq. ft. $ 2.50/sq.ft. $ 3,920.00 Landscaping: Acer 1 $ 165.00/ea. $ 165.00 Celtis 1 $ 325.00/ea. $ 325.00 Fraxinus 1 $ 325.00/ea. $ 325.00 Gleditsia 1 $ 165.00/ea. $ 165.00 Juniperus h. 5 $ 25.00/ea. $ 125.00 Juniperus s. 5 $ 25.00./ea $ 125.00 Malus 1 $ 165.00/ea. $ 165.00 Malus 1 $ 195.00/ea. $ 195.00 Misc. shrubs 16 $ 25.00/ea. $ 400.00 Tilia a. 1 $ 325.00/ea. $ 325.00 Tilia c. 6 $ 295.00/ea. $ 1,770.00 Syringa 3 $ 165.00/ea. $ 495.00 Robinia 1 $ 325.00/ea. $ 325.00 Installation of trees and shrubs (50% cost of plants) $ 2,452.50 (grading, sod, irrigation) 1,375 sq. ft. $ 0.21/sq. ft. $ 288.75 Signs (Disabled) 1 $ 25.00/ea. $ 25.00 6" Concrete Curb 657 ln. ft. $ 10.00/ft. $ 6,570.00 Garbage Enclosure 1 $ 250.00/ea. $ 250.00 Bike Rack 1 $ 130.00/ea. $ 130.00 TOTAL ESTIMATED COST $ 27,611.00 x 1.5 = $ 41,416.50