The URL can be used to link to this page

Home My WebLink About#13 - Priorwood Twhm Dev Agt DEVELOPER I S AGREEMENr 'lEIS ~, made and entered into this 16th day of Sent, 198 between the CI'I"l OF PRIOR LAKE, a munici~' corporation organizes under the laws of the state of Minnesota (the "City"), and Priorwood Townhouse LTD (the "Developer"). WITNESS~'.ui, THAT : ~, The Ceveloper has made application to the City council for approval of a plat of land within the coqx>ration limits of the City descril:ed as follCMs: PRIORVIEW SECDND ADDITION (the "Subdivision"): and w~, the City Council by resolution adopted April 1 , 1985, has granted prel iminary approval to the Subdivision, on the condition that the Developer enter into this agreement to provide for installation of street, water, sewer and other improvements hereafter described on the terms and conditions hereafter set forth. Nl'f 'IHEREroRE, in consideration of the premises and of the mutual pranises and conditions hereinafter contained, it is hereby agreed as follCMS: 1. :JJm2rovements. In accordance with the policies and ordinances of the Ci ty, the following described improvements (hereinafter collectively called the "Improvements") shall be constructed and installed on the terms and conditions hereinafter contained: a) street grading, graveling and stabilizing, including construction of boulevards and turf establishment (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) Sam tal:y sewer laterals or extension, including all necessary building services, and other a~J:Alrtenances (hereinafter called "Sani tary SeNer Improvements"): d) Watermain laterals or extensions, including all necessary building services, hydrants, valves, and other appurtenances (hereinafter called 'Watermain Improvements") and: e) Permanent street surfacing (hereinafter called "Permanent Street Improvements") and: f) 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 (hereinafter r::.' led "Traffic Signing Improvements"). 2. Warrantv of Developer. '!he O:Nelv}:oCr hereby warrants and represents to the City as inducement to the City's entering into this Agreement, that I:eveloper' s interest in the Subdivision is Fee Q..m.er (indicate whether fee owner, vendee under contract for deed fran named venoor, or other vested interest) . 3. resignation of Imt;2rovements. Improvements to be installed at I:eveloper's expense by the Developer are hereinafter referred to as "Plan A Improvements". Improvements which the developer has petitioned the City to install and finance through the regular Ci ty assessnent procedure hereinafter referred to as "Plan B Improvements". 1 P00031 a) The developer shall execute the Developers Agreanent prior to final Cotmcil approval of the plat. 4. Plan A Improven~ts. '!be Developer will construct and install, at the Developer I s expense, the following improvements under Plan A, according to the specifications suhnitted and approved by the City of Prior Lake for said project, prior to plat approval: See Schedule A, sheet 4 a) In the event that the City Engineer determines that services should be over-sized in the area to be develoI;ed for the benefit of future developnent in contiguous or adjacent areas, there will be a determination by the City as to the cost of the over-siz ing and the over-sizing of such facilities will be either credited to the fees the developer owes the City or be paid at the City's option. The City of Prior Lake shall assess the developer for over-sizing costs for trunk mains provided to serve this prvt:A=rty. b) It shall be the obligation of the developer to furnish to the City ~ans and specifications by a registered professional engineer for :=:~i.d construction and before any construction is cvulLuenced said plans must be approved by the City Engineer. The Developer shall provide full time ~t:Cction during construction and surveying. c) The City of Prior Lake shall charge the sum of 6% of the total construction costs, payable prior to plat approval, subject to any increase or decrease of construction cost, as canpensation for supervision, approval of plans, final acceptance and ongoing maintenance costs of facilities which will be turned over to the City of Prior Lake for addition to its existing municipal facilities. '!be Developer shall be responsible to provide and maintain erosion control. d) The Developer agrees to furnish to the City of Prior Lake a letter of credit or performance bond in the sum of $~.8ala.5i which will guarantee CuLl~etion of performance of the contract, according to the plans and specifications in the event of default by Developer. e) The Developer agrees to furnish the City of Prior Lake Liability Insurance to the satisfaction of the City Finance Director. S. Plan B ~rovenents. 1be Developer has petitioned the City for the installation of Plan B Improvements as follows: N<EE See Schedule A, Sheet 4. If the City Council orders the installation of Plan B Improvements, the Ci ty will cause such Plan B Improvements to be installed and the costs thereof to be assessed against the benef ited properties on the following terms and conditions: a) Construction. After preparation of preliminary plans and estimates by the City Engineer, an improvement hearing will be called by the City Council for the pllJ..~se 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 canplete supervision. b) Assessment '!he entire cost of the installation of said improvenents and all over-siz ing costs for trunk mains, ine! uding any reasonable engineering, legal and costs incurred by the City, shall be assessed against the benefitted properties in accordance with the regular ~~ial assessnent policies of the City of Prior Lake. rrbe subdivider shall deposit with the Ci ty cash in the 2 P00032 minimum amount of twenty-five ~rcent (25%) of the total cost of Petitioned Improvements, which total cost has been estimated by the City Engineer in the amount of $_. Such deposit shall be due at the time of the Agreanent and the Subdivider I s account shall be credited interest as deter.mined ~ the City Finance Director. c) For puqx>ses of Minnesota Statute 429.ftl31 Subdivision 3, this Cevelopers Agreanent shall constitute a petition of a Iftl0% of the pro~rty CMners of the above described property. 6 . G~G'<AL a) Binding Effect. '!he terms 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 ut^Jn 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 then. '!his Agreenent, at the option of the City, shall be placed of record so as to give notice hereof to subsequent purchasers and encumbrances of all or any part of the Subdivision and all recording fees, if any, shall be paid by the develo~r. Sanitary sewer, watennain and interim paving shall be IwVlL~ete ~ November 1. 1~a5 . Final paving shall be 1...;ulUtJlete by Jl.1ly 3[. 1986, nonCulUtJliance of this will cause the performance bond or letter of credit to be called down, unless an extension of time is granted by the City Cotmcil. b) ~tices: Whenever in this Agreenent it shall be required or permitted that notice or demand be given or served by either party to this Agreenent to or on the other party, such notice 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 del ivered 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: L.L.'.1.'! EN:;nu:a:a< 4629 Dakota street SE P.O. Box 359 Prior Lake, MN 55372 If to the Developer: PRIOHi'<XD 'l.\NlNHOOSE LID 200 Southdale Place 3400 West 66th Street Edina, Minnesota 55435 920-1900 3 P00033 PLAN - A srnEIlJLE A CITY OF PRIOR LAKE &i.l".lMlb."W roffi' OF REQUIRED IMPROJEMENTS (based on average lot size) .IW;t 3 L Subdivider Priorwood Townhane LID Unit Area unit Frontage Total Ii:'r~=~s Ar~ Qlst I ~ I t'ronti;l.gE: I Qlst I 'Jiltal, ~ 2. street Signs 1 I , I I 3. Boulevard Trees I I I I I 4. Street Lightina 1 1 1 I 1 ~ 5. ~place lot co~ I 1 I I 6. Extra maintp.nance of ! I I I streets & storm sewer 1 I I dur ing develo.pnent I . 1 1. Bi tllll\inous Surface ! 1.52-,583 · 't 2. Pennanent drainage I J. Sanitary Sew:~ Trunk llL.1J9.~ 4. Sani taN Sew I Lateral - Services I 5. Watermain Trunk I 6. w~~_~~~ 132..uM 7. Co e 'gutter 1 'lbtal standard Cost I SJ}eCial ~uirements 1 I I, r.redi t fQr ClQnnectioQ: cQarge 20 upi ta i 1l$175 = $3,599.90 I I 2.. I I 3. ! 1 I I 5Li Subdivision Name -EiYe Hawks 1st Add. - ~t 1. Partk Estimated City Fees Plan A 6% $ $ 2.838.jt9 Total EscrCM $. 'lbtal Estimated Construction Cost l"d o o o LV U1 Estimated City Partial Pa~....;.nt Plan B (25%) $ City Fee; 50 + 300 + (.~6) (52,583 + 14,779.50 + 32,439) - 3500 ; $2,838.09 l"d o o o LV ~