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Home My WebLink About95- Comstock Apartment Complex IMPROVEMENTS AGREEMENT FOR COMSTOCK APARTMENT COMPLEX HAGGERTY LANE AND ELLIS STREET THIS AGREEMENT is made and entered into this,.day of&� 1995, by and between Farmhouse Partners-Bozeman LTD., Partnership, 9581 Forest Creek Dr., 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 and purpose of the Developer to meet the conditions of approval of a Conditional Use Permit application to allow the development of a 24 unit apartment complex on property legally described as Lot 1, Minor Subdivision No. . Gallatin County, Montana; and 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 Conditional Use Permit. 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 as Lot 1, Minor Subdivision No. , Gallatin County,Montana, and more commonly known as the southeast corner of Haggerty Lane and Ellis Street. 1 2. Improvements This Agreement specifically includes on-site parking, striping, landscaping, 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 the addition is to occur prior to the installation of all required on-site 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 than twelve(12)months. In any event, all required improvements shall be completed within nine(9)months of occupancy 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 Developers are in compliance with this Agreement, and the Developers 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 2 default is deposited in the United States mail addressed to the developer at 9581 Forest Creek Dr., 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. 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 them 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 City. Any required 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 landscape plan. 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 by a writing signed by the parties hereto. 9. InvaIid Provision The invalidity or unenforceability of any provision of this Agreement shall not affect the other 3 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 whole, or in part, without prior written consent to City. 11. Successors 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. FARMHOUSE PAR ERS- EMAN LTD., PARTNERSHIP BY: GE E A TN STATE OF MONTANA :ss County of Gallatin ) On this day of �. , 1995, before me, a Notary Public for the State of Montana, personally appeared William C. Dabney III, known to me to be the General Partner of Farmhouse Partners-Bozeman LTD., Partnership, the Montana limited partnership that executed the foregoing Improvements Agreement, and acknowledged to me that he executed the same for and on behalf of said limited partnership. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my Notarial Seal the day and year first above written. Notary Public for State of Montana Residing at Bozeman Commission Expires: o?o� 4 THE CITY OF BOZEMAN —jLff't'/'11 /�/ Phillip J. Forb s �/ Director of Public Service STATE OF MONTANA ) :ss County of Gallatin.) On the /-,I /I day of 1995, 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. WITNESS WHEREOF, I have hereunto set my hand and affixed my seal on the day and year written ab¢ve. Notary Public for State of Montana Residing at Bozeman Commission Expires: /✓=�`' 5 EXHIBIT B ESTIMATED COST FOR IMPROVEMENTS DATE: AUGUST 17, 1995 PROJECT: COMSTOCK APARTMENT COMPLEX DEVELOPER: DAB DABNEY ITEM SQ.FT./LN.FT. COST PER UNIT EST. TOTAL COST Paving, Asphalt 29,000 $1.25/SQ.FT. $36,250.00 Paving, Concrete NA $2.50/SQ.FT. Sidewalks 4500 $2.50/SQ.FT. $11 250.00 Curbing 1,200 $10.00/LN.FT. $12,000.00 Landscaping ATTACHED ATTACHED $5,780.00 Landscape Protection NA Garbage Enclosure 1 $250.00 WOOD $250.00 Site Preparation 84,500 $0.75/SQ.FT. $63,375.00 Exterior Lighting 6 $350.00 $3,150.00 Irrigation System 63,375 Is 00.0 $3,500.00 Bike Rack 1 $130.00 $130.00 Sign(s) 3 $25.00 $75.00 SUB-TOTAL $135,760.00 TOTAL (1.5 TIMES SUB-TOTAL) $203,640:0 EXHIBIT B ESTIMATED COST OF LANDSCAPING IMPROVEMENTS DATE: AUGUST 17, 1995 PROJECT: COMSTOCK APARTMENT COMPLEX DEVELOPER: DAB DABNEY ITEM UNITS SIZE COST PER UNIT EST. TOTAL COST TREES Quaking Aspen 9 8-10' $75.00 $675.00 Patmore Ash 9 8-10' $75.00 $675.00 Brooks Poplar 23 8-10' $75.00 $1,725.00 Russian Olive 17 8-10, $75.00 $1,275.00 Scotch Pine 7 6' $100.00 $600.00 SHRUBS Goldfinger Potentilla 9 15-18" $15.00 $135.00 Cotoneaster 3 2-3' $15.00 $45.00 Red Twig Dogwood 20 2-3' $15.00 $300.00 Tam Juniper 14 18-24", 5 gal. $25.00 $350.00 TOTAL $5,780.00