HomeMy WebLinkAbout15- Lakes at Valley West Subdivision Phases 1 and 2 Sidewalk, Park, Open Space, Street, Water and Sewer Improvements J-572
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Cit),of Bozeman ,
City Clerk EE�
121 N Rouse Avenue
Bozeman MT 59715 2527598
Page: 1 of 10 10/14/2015 01:19:39 PM Fee:-$70.00
Charlotte Mills - Gallatin county, MT' "
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IMPROVEMENTS AGREEMENT
FOR
LAKES AT VALLEY WEST SUBDIVISION,PHASES 1 & 2
SIDEWALK, PARK, OPEN SPACE, STREET, WATER,AND SEWER
IMPROVEMENTS
This AGREEMENT is made and entered into this day of
2015, by and between The Lakes at Valley West LLC, 2880
Technology Blvd West, Bozeman MT 59718, hereinafter called the "Subdivider", and the CITY
OF BOZEMAN, a municipal corporation and political subdivision of the State of Montana, with
offices at City Hall, 121 North Rouse Avenue, 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
preliminary plat approval, Planning Application No. P-15005 and Application 15396, for the
Final Plat application of The Lakes at Valley West Subdivision Phases 1 &2, to subdivide
64.89± acres together and create sixty-one (61) single-household residential lots, one (1) public
park, six (6) Open Space parcels, two (2) restricted development lots, and the remaining area as
public streets and alleyways; and
WHEREAS, it is the intent and purpose of the Subdivider to obtain Final Plat approval
for The Lakes at Valley West Subdivision.Phases 1 &2; and
The Lakes at Valley West Subdivision Phases 1 &2 Improvements Agreement 1
WHEREAS, the Final Plat for the The Lakes at Valley West Subdivision Phases 1 &2,
was filed prior to the installation of all required subdivision improvements and an improvements
agreement with financial security was provided; 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 related with 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
Final Plat approval of The Lakes at Valley West Subdivision Pleases 1 &2.
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 being:
Tract 1 of Certificate of Survey No. 1005B and Tracts 2A of Certificate of Survey No.
1005C,NE1/4NW1/4 and the NWl/4NE1/4 of Section 9, Township 2 South Range 5 East,
PMM, City of Bozeman, Gallatin County, Montana
2. Improvements
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This Agreement specifically includes the following improvements: Lot frontage sidewalks;
Phase 1 and 2 water, sewer, stormwater, streets, and woonerfs; Laurel Parkway street and
stormwater improvements; Phase 1 and 2 open space and park improvements; Durston Road;
Durston Road and Cottonwood Road Signalization. The Estimated Cost of said improvements
has been estimated by Morrison-Maierle Engineering, 2880 Technology Blvd W. Bozeman,
MT 59718, at One Million Six Hundred Sixty-Six Thousand, Six Hundred Forty-Seven
The Lakes at Valley West Subdivision Phases 1 &2 Improvements Agreement 2
Dollars and Thirty-Seven cents (1,666,647.37). The estimate is attached and made a part of this
Agreement, as Exhibit "A".
3. Financial Guarantee, Time for Completion of Improvements, Additional
restrictions
It is the Subdivider's intent with this Agreement to file the Final Plat prior to completion
of all required subdivision improvements. Therefore, this Agreement shall be secured by
irrevocable standby Letter of Credit No. for an amount not to exceed
.$2,500,000 from Bank of America N.A. acceptable to the City of Bozeman, which is one hundred
and fifty (150) percent of the Estimated Cost of said improvements. The City may elect to
receive replacement financial instruments as work is completed and the amount to be guaranteed
is reduced.
The Subdivider hereby agrees that the following subdivision related improvements
shall be installed and completed no later than nine (9) months of the filing of the final
subdivision plat for The Lakes at Valley West Subdivision Phases 1 &2 in order to avoid
default on the method of security: All listed improvements except Lot Frontage Sidewalks.
The Subdivider hereby agrees that the following subdivision related improvements
shall be installed and completed no later than three (3) years of the filing of the final
subdivision plat for The Lakes at Valley West Subdivision Phases 1 &2 in order to avoid
default on the method of security: Lot Frontage Sidewalks.
The Subdivider agrees that no delegation of performance required by this agreement shall
relieve the Subdivider of any duty to perform or any liability for the breach of that duty to
complete said subdivision improvements required for The Lakes at Valley West Subdivision
Phases 1 &2.
The Lakes at Valley West Subdivision Phases 1 &2 Improvements Agreement 3
Upon submission of fully documented invoices for the work performed, said work to be
inspected and certified for payment by Subdivider's professional engineers and the City of
Bozeman and or its agents as necessary, the City of Bozeman may release a portion of the letter
of credit for the work completed by the referenced invoices.
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 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 of 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 The
Lakes at Valley West LLC, 2880 Technology Blvd West, Bozeman MT 59718, 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
Developer 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 Subdivider.
B) The City may enforce any other remedy provided by law.
The Lakes at Valley West Subdivision Phases 1 &2 Improvements Agreement 4
6. Indemnification
The Subdivider hereby expressly agrees to indemnify and hold the City harmless for and
against all claims, costs and liability of every kind and nature, for injury or damage received or
sustained by any person or entity in connection with, or on account of the performance of work
at the development site and elsewhere pursuant to this Agreement. Subdivider further agrees to
aid and defend the City in the event that it is named as a defendant in an action concerning the
performance of work pursuant to this Agreement except where such suit is brought by the
Subdivider. The Subdivider is not an agent or employee of the City.
7. Attorney 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.
8. Warranty
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 date of their written acceptance by the governing body. All landscaped areas required by this
Agreement shall be permanently maintained by the Subdivider pursuant to section 38.26.100 of
the Bozeman Municipal Code.
9. Governing Law
This Agreement shall be construed according to 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.
The Lakes at Valley West Subdivision Phases 1 &2 Improvements Agreement 5
10. Modification or Alterations
No modifications or amendment of this Agreement shall be valid, unless evidenced by a
writing signed 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
It is expressly agreed that the Subdivider shall not assign this Agreement in whole, or in
part, without prior written consent to City.
13. Successors
Except as provided in paragraph twelve (12), 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.
14. Filing
The Subdivider shall have this Agreement recorded in the Office of the Gallatin County
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Clerk and Recorder at the within 10 business days of the signature of the Community
Development Director.
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The Lakes at Valley West Subdivision Phases 1 &2 Improvements Agreement 6
7
SUBDIV1,DER � �
4
BY: GREG STIVTTON, AUTHORIZED REPRESENTIVE
THE LAKES AT VALLEY WEST, LLC
STATE OF MONTANA )
:ss
County of Gallatin )
On this day of 6uhmbcr , 2015, before me, the undersigned, a
Notary Public for the State of Montana, personally appeared Greg Stratton, known to me to be a
Member of The Lakes at Valley West, LLC the entity that executed the within instrument, and
acknowledged to me that they executed the same for and on behalf of said Subdivider.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my Notarial Seal the day
and year first above written.
(SEAL) '
` � KATHERINE MAINES (p inted Name Here)
Notary Public tary Public for the State of Montana
i
�`'��•• for the State of Montana
'OC)iAfi1,4 w at:
g ontana Resi I
Residing
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The Lakes at Valley West Subdivision Phases I &2 Improvements Agreement 7 ft
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THE CITY OF BOZEMAN
BY: WENDY THOMAS,
COMMUNITY DEVELOPMENT DIRECTOR
CITY OF BOZEMAN
STATE OF MONTANA )
:ss
County of Gallatin )
On the I A day of , 2015, before me, a Notary Public for the
State of Montana, personally appeared Wendy Thomas, known to me to be the person described
in and who executed the foregoing instrument as Community Development 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.
( �INE MAiNES ,
Notary Public C
for the State of Montana 1
- - = Residing at: (P•inted Name Here)
*,••,SEAL �� Belgrade, Montana
y�of•Mo��??' fvly Commission Expires: No Public for the State of Montana
July 22,2016 Residing at
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The Lakes at Valley West Subdivision Phases 1 &2 Improvements Agreement 8
EXHIBIT "A"
ESTIMATED COST FOR IMPROVEMENTS
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Date: _Z -/t?
Project: The Lakes at Valley West Subdivision Phases 1&2
Developer: The Lakes at Valley West,LLC
---------------------------------------------------------------------------------------------------------------------
Improvement Sq. Ft./Ln. Ft Estimated
See attached exhibit B for details $1,666,647.37
Sub Total $1,666,647.37
150% $2,499,971.06
Approved by City Engineer's Office ' . " ' Date
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The Lakes at Valley West Subdivision Phases 1 &2 Improvements Agreement 9
Exhibit B
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