The URL can be used to link to this page

Home My WebLink About95- Security Bank IMPROVEMENTS AGREEMENT FOR SECURITY BANK 2901 WEST MAIN STREET THIS AGREEMENT is made and entered into this 7th day of June , 1995, by and between Security Bank, 219 North 26th Street, Billings, MT 59101, 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 Minor Site Plan application to allow the construction of a branch bank facility on the property in question; 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 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 those properties which are designated and identified as Parcel "B-1" of the Main Mall Annexation, being located in the SW4 of Section 11, T2S, RSE, City of Bozeman, Montana, and more commonly known as 2901 West Main Street. 2 . Improvements This Agreement specifically includes landscaping, paving 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" . 1 3. Financial Gue,rantee, Time for Complet_iori_ of IMprovements If occupancy of the structure is to occur, prior to Completion Of all required on-site improvements, this 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 Developer is in corapliance 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 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 219 North 26th Street, Billings, M1' 59101, 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 CiLy's representative, contractors, and 2 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 Governing Body. 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 . 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. 3 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 . SECURITY K BY: Ti a ,e s ivc� T STATE OF MONTANA ) : ss County of ) On th day of , 1995, before me, a Notary P c, for the State of Montana, personally appeared w. , known to me to be the of S curity Bank, the corporation who executed the foregoing Improvements Agreement, and acknowledged to me that he/she 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. 0(0 _ Notary Public r State of o t�a`na Residing at Coimliission Expires : THE CITY OF BOZEMAN AIZ441. "�' 217Z/W'W-- Phil lip J "F `be Director of Public Service STATE OF MONTANA ) : ss County of Gallatin ) On the day of , 1995, before me, a Notary Public for the State of ntana, personally appeared Phillip J. Forbes, known to me to b 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. IN ITNESS WHEREOF, I have hereunto set my hand and affixed my seal o the ay nd year first written above. otary Public for �State of Montana Residing at Bozeman Commission Expires : l 4 "EXHIBIT B" ESTIMATED COST OF IMPROVEMENTS SECURITY BANK 2901 WEST MAIN STREET ----------------------------------------------------------------------------------------- PROJECT: Z-9518 - Minor Site Plan to allow the construction of a branch bank facility on Parcel B-1 of the Main Mall Annexation DEVELOPER: Security Bank ----------------------------------------------------------------------------------------- ITEM SQ.FT./LN.FT. COST/UNIT EST. COST Asphalt parking (per site plan) 22, 790 sq.ft. $ 1 . 25/sq.ft. $28,487 . 50 Walks/Plazas (per site plan) 2,200 sq.ft. $ 2 .50/sq.ft. $ 5, 500 . 00 Curb 1, 380 ln. ft. $10 . 00/ln. ft. $13, 800 . 00 Landscaping (per landscape plan) Paper Birch 2 $220 . 00 ea. $ 440 . 00 Narrowleaf Cottonwood 16 $215 . 00 ea. $ 3,440 . 00 Quaking Aspen 52 $165. 00 ea. $ 8,580 . 00 Little Leaf Linden 11 $295 . 00 ea. $ 3,245 . 00 Colorado Blue Spruce 11 $190. 00 ea. $ 2 , 090 . 00 Redtwig Dogwood 64 $ 12 . 50 ea. $ 800 . 00 Yellowtwig Dogwood 13 $ 12 . 50 ea. $ 162 . 50 Western Chokecherry 2 $ 12 . 50 ea. $ 25 . 00 Squaw Currant 47 $ 11 . 00 ea. $ 517 . 00 Sticky Currant 41 $ 11 . 00 ea. $ 451 . 00 Purple Willow 11 $ 12 . 50 ea. $ 137 . 50 Installation of Trees and shrubs (50% of cost of plants ) $ 9 , 944 . 00 General Landscaping (grading, sod, irrigation) 39, 194 sq.ft. $ 0 . 50 sq. ft. $19,597 . 00 Security lights 4 $125 . 00 ea. $ 500 . 00 Bike Rack 1 $130 . 00 ea. $ 130 . 00 Garbage enclosure (wood) 1 $250 . 00 ea. $ 250 . 00 Signs (directional/disabled) 3 $125 . 00 ea. $ 375 . 00 TOTAL ESTIMATED COST $98,471 . 50 x 1 . 5 = $147 , 707 . 25