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HomeMy WebLinkAbout95- Willowbrook Condominiums IMPROVEMENTS AGREEMENT FOR WILLOWBROOK CONDOMINIUMS 2400 WEST DURSTON ROAD THIS AGREEMENT is made and entered into this / CI day of June, 1995, by and between Tom Fellows, 2308 W. Durston, 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 Condominium Subdivision application and a Major Site Plan application to allow the development of 85 residential dwelling units; and WHEREAS, it is the intent of the Developer to obtain Final Site Plan and Plat 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 Major Site Plan and Condominium Subdivision. 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 COS No. 1917, located in the NW 1/4, NE 1/4, Section 11, T2S, R5E, PMM, City of Bozeman, Gallatin County, Montana, and more commonly known as 2400 West Durston Road. 1 2. Improvements This Agreement specifically includes sidewalks 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 dwelling units in each phase is to occur prior to the installation of all required on-site improvements for that phase, 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. If submittal of final plat for each phase is to occur prior to the completion of all of the required infrastructure improvements for that phase,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 eighteen (18) months. In any event, all required improvements shall be completed within twelve (12) months of submission 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 2 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 default is deposited in the United States mail addressed to the developer at 2308 W. Durston, 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 thereafter 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. 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 written acceptance by the City. 3 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 whole, or in part, without prior written consent of the 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. Tom Fellows STATE OF MONTANA ) :ss County of Gallatin ) On this /y/i^ day of June, 1995, before me, a Notary Public for the State of Montana, 4 personally appeared Tom Fellows,known to me to be the person whose name is subscribed to the foregoing instrument and acknowledged to me that he executed the same. 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:— THE CITY OF BOZEMAN —6i4� Phillip J. Forb s Director of Public Service STATE OF MONTANA ) :ss County of Gallatin) On the day of June, 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 fir writtenb ve. Notary Public for State of Montana Residing at Bozeman Commission Expires: 5 EXHIBIT B ESTIMATED COST FOR IMPROVEMENTS DATE: JUNE 15, 1995 PROJECT: WILLOWBROOK CONDOMINIUMS, 2400 WEST DURSTON ROAD, MAJOR SITE PLAN, Z-9452 , PRELIMINARY PLAT, P-9510 DEVELOPER: TOM FELLOWS PUBLIC IMPROVEMENTS EST. COST PER UNIT ESTIMATED COST Sidewalk on Durston, 280 feet and site $12.00 per linear foot& $7,980.00 preparation $1.50 per square foot SUB-TOTAL $7,980.00 TOTAL (1.5 TIMES SUB-TOTAL) $11,970.00