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HomeMy WebLinkAboutDeveloper's Agreement ;~ -- DEVELOPER'S AGREEMENT THIS AGREEMENT, made and entered into this 12 day of Septem. , 1977, by and between the CITY OF PRIOR LAKE, a municipal corporation organized under the laws of the State of Minnesota (the "City"),.and Daniel Will s.e.~\c.../ ~~s. , (the "Developer"). WI TNES SEW, That: \-\ <::> \ C' Y f "'"" -\. - \ ~ c , WHEREAS, The Developer has made application to the City Comcil for approval of a plat of land within the corporation limits of the City described as follows: Holly Court (the "Subdivision"): and WHEREAS, the City Council by resolution adopted July 18 ,1977" has granted pre- liminary approval to the SUbdivision, on the condition that the Developer enter into this agreement to provide for the installation of street, water, sewer and-other improvements hereinafter described on the terms and conditions hereinafter set forth. NOW THEREFORE, in consideration of the premises and of the mutual promises and ~onditions hereinafter contained, it is hereby agreed as follows: 1. Improvements. In accordance with the policies and ordinances of the City, the following described improvements (hereinafter collectively called the "Improvements") shall be constructed and installed on the terms and conditions hereinafter contained: a) Stre:et grading, graveling and stabilizting, including construction of berm and boulevards (hereinafter called "Street Improvements"): b) Storm sewers, when determined to be necessary by the City Engineer, including all necessary catch basins, inlets and other appurtenances (hereinafter called "Storm Sewer Improvements"); c) Sanitary sewer laterals or extension, including all necessary building services and other appurtenances (hereinafter called ,"Sanitary Sewer Improvements ") : d) Watermain laterals or extensions, including all necessary building services, hydrants, valves and other appurtenances (hereinafter called "Watermain Improvements"): e) Permanent street surfacing (hereinafter called "Permanent Street Improvements") and fj Standard street name signs at all newly opened intersections and such other traffic control signs within the Subdivision determined to be necessary by the City Engineer (here- inafter called "Traffic Signing Improvements"). . 2. Warranty of Developer. The Developer hereby warrants and represents to the City as inducement to the City's entering into this Agreement, that Develop~r's interest in the Subdivision is fee owner (indicate whether fee owner, vendee mder contract. for deed .fromnamed vendor, or other vested interest). 3. Designation of Improvements. Improvements to be installed at Developer's expense by the Developer:. to as "Plan A Improvements". Improvements which the Developer has r-, -- by the City to payment of total amounts due under this Agreement. Interest shall be calculated on such deposit at the interest rate last approved by the City Council for special assessments and credited to the Subdivider's account with the City. 6. General. a} Binding Effect. The tenns and provisions hereof shall be binding upon and insure to the benefit of the heirs, representatives, successors and assigns of the parties hereto and shall be binding upon all future owners of any or any part of the Subdivision and shall be deemed covenants running with the land. References herein to Developer, if there be more than one, shall mean each and all of them. This Agreement, at the option of the City, shall be placed of record so as to give notice hereof to subsequent purchasers and encombrancers of all or any part of the Subdivision and all recording fees, if any, shall be paid by the developer. b) Notices: Whenever in thls Agreement it shall be required or ,permitted that notice or demand be given or served by either party to this Agreement to or on the other party, such notice or demand shall be delivered personally or mailed by united States mail to the addresses hereinafter set forth by certified mail (return receipt requested). Such notice or demand shall'be deemed timely given when delivered personally or when deposited in the mail in accordance with the above. The addresses of the parties hereto are as follows, until changed by notice given as above: If to the City at: City fpgineer 4629 Dakota Street SE Prior Lake~ Minnesota 55372 I f to the Deve loper at: Danie 1 Wi 11 ~ G~.:\.I ~ ~ \JUS _ fA-o t \ 'l E..v -f. \ ~c . 15430 Breezy Poin~ Road Prior Lake, Minnesota 55372 c) Final Plat AEProved. The"City agrees to give final approval to the plat of the Subdivision upon execution and delivery of this Agreement and of all required petitions, bond and security. d) Incorporation by Reference. All plans, special provisions, proposals, specifications and contracts for the Improvements financed and let pursuant to this Agreement shall be 8?d hereby are made a part of this Agrement by reference as fully as if set out herein in full. IN WITNES~ WHEREOF, the City and Developer have caused this Agreement to be duly executed for Plan B (A or B) on the day and year first above written. In Presence of CITY OF PRIOR LAKE By: It's By: It's By: It's -3- ,~ petitioned the City to install and finance through the regular City assessment proceQure are hereinafter referred to as "Plan B Improvements". 4. Plan A Improvements. The Developer will construct and install, at the Developer's expense, the following improvements under Plan A, according to the specifications submitted and approved by the City of Prior Lake for said project: a) In the event that the City Engineer determines that services should be over-sized in the area to be developed for the benefit of future development in contiguous or adjacent areas, there will be a dete~ination by the City as to the cost of the over-sizing and the over-sizing of such facilities will be either assessed or deferred at the City's option. b) It shall be the obligation of the developer to furnish to the City plans and speci- fications for said construction and before any construction is cvuuuenced said plans must be approved by the City Engineer. c) The City of Prior Lake shall charge the sum of 5% of the total construction cost, payable prior to commencement of construction, subject to any increase or decrease of construction cost, as compensation for supervision, approval of plans and final acceptance of facilities which will be turned over to the City of Prior Lake for additions to it's existing municipal facilities. d) The developer agrees to furnish to the City of Prior Lake a letter of credit or performance bond in the sum of $ which will guarantee completion of performance of the contract, according to the plans and sRecifications in the event of default by developer. 5. Plan B Improvements. The Developer has petitioned the City for the installation of Plan B Improvements as follows: See Schedule A, Sheet 4. If the City Council orders the installation of Plan B Improvements, the City will cause such Plan B Improvements to be installed and the costs thereof to be assessed against the benefited properties on the following terms and conditions: a) Construction. After preparation of preliminary plans and estimates by the-- Ci ty Engineer, an improvement hearing will be called by the City Council for the purpose of ordering these Plan B Improvements. After preparation of final plans and specifications by the City, Engineer, bids will be taken by the City and contracts awarded for the installation of the improvements under the City's complete supervision. b) Assessment. The entire cost of the ~p.st.allation of said improvements and all over- sizing costs for trunk mains, including ~ reasonable engineering, legal and administrative costs incurred by the City, shall be assessed against the benefited properties in accordance with the regular special assessment policies of the City of Prior Lake. The Subdivider shall deposi t with the City ca'sh in the minimu~ amount of twelve percent (12%) ofccthe total. cos.t of Petitioned Improvements, which total cost has been estimated by the City Engineer-in the amount of $ 6256.80 Such deposit shall be due at the time of the Agreement and shall be applied -2- ~, ~ DEVELOPER: In Pres ence of: By: It's STATE OF MINNESOTA) ) COUNTI OF. SCOTT ) On this day of , 19 , before me, a Notary Public~ within and for said County personally appeared and to me personally known, being each by me duly sworn did say that they are respectively the and the of the City of Prior Lake, the muni~ipal corporatipn named in the foregoing instrument; and that the seal affixed to said instrument is the corporate seal of said corporation, and that said instrument was signed and sealed in behalf of said municipal corporation by authority of it's City Council and said and acknowledged said instrument to be the free act and deed-o-f said municipal corporation. On January 1, 1977 there was $8163.80 assessments for Project 72-7 Phase I on the parcel and an annual interest charge accrues at 8% per year. PlAN B CITY OF PRIOR LAKE ESTIMATED COST OF REQUIRED IMPROVEMENTS Subdivision Name Holly' Court Improvements Part 1. 1. Grading .2. Street Signs 3. Boulevard Trees 4. Street Lighting 5. Replace lot corners 6. Extra maintenance of streets & storm sewer during development Part 2 1. Bituminous Surface 2. Permanent drainage 3. Sanitary Sewer Trunk 4. Sanitary Sewer Lateral Services ----- ..----..----- --- 5. Watermain Trunk 6. Water Lateral 7. Concrete curb & gutter Total Standard Cost Part 3 Special Requirements 1. 2. 3. Area Unit Cost Total Estimated Construction Cost Estimated City Fees Plan A (5%) Estimated City Fees Plan B (12%) (based on average l~t size) . Subdivider. Daniel.Will Area Unit Total ~ron~~ge Cost '..-. .... $ 52,. 140. 00 ' $- . , $ . 6..256 .'gO Frontage Tot al Total Escrow $ Total Cost 50.00 300. 00 ) 30,677.00 6,531.00 J_~_1_~~2 ~ OQ_._ 52. 140. 00 )