HomeMy WebLinkAboutTARGETT (1)Filed for Record at Request of:
When Recorded Return to:
Name: City Clerk
Address: 239 Fourth Street
Bremerton, WA 98337
IMPROVEMENTS AGREEMENT
WITH BOND
TO BE FILED
WITH CITY CLERK
Project Name: Tarl~ett Short Plat
Developer Name: Victor Targett
Location: First Street
Tax Parcel # 222401 - 1-002-2007
WHEREAS the City of Bremerton requires cemiin land developments to include
public and private improvements including, but not limited to gutters, sidewalks, curbs,
street lights, street widening and stormwater improvements, as a condition for plat,
P.U.D., or building permit; and
WHEREAS the undersigned, as owner of real property within the City of
Bremerton, described in Exhibit "A" and attached hereto by reference herein, (hereinafter
"Premises") has made application for Short Plat which requires construction of a shared
access driveway and approximately 60 LF of sanitary sewer main according to SP96-0007.
NOW, THEREFORE, the undersigned owner (hereinafter "Owner") and the City
of Bremerton (hereinafter "City"), in consideration of the City's approval of Owner's
project and the mutual covenants set forth herein, the parties do hereby promise and agree
as follows:
1. Bond. The Owner shall post with the City Clerk a bond or bonds in an amount
equal to one hundred percent and fifty (150%) of a Contractor's estimated cost of
construction of the improvements, described in Exhibit B and as approved by the City
Improvementa Agr~nont
Page 1
Engineer, in the amount of $22,351.73. The bond shall provide, as a minimum, the
following:
a. The Owner shall complete the project in accordance with good and
accepted engineering and construction practice.
b. The Owner shall fully comply with all terms of this agreement.
c. The Owner shall fully comply with all requirements of law in carrying out
the project, and shall comply with all lawful requirements imposed by any agency
with jurisdiction relating to the project.
d. The bond shall be effective for at least two years after completion of
construction unless affirmatively released sooner by the City, and shall guarantee
the completed projects against defects in workmanship and materials. Bond
amount during guaranteed period shall be twenty percent (20%) of the project
cost.
e. The bond must be approved by the City of Bremerton's Risk Manager and
may take any of the following forms:
1) One or more surety bonds issued by any surety company licensed to
do business in the State of Washington
2) A cash deposit in the full bonded amount deposited with the City
Treasurer.
3) An assignment of funds on deposit in a licensed bank or credit
union, in the full bonded amount and releasable only upon order of the City
Engineer upon satisfactory performance of this agreement.
2. Construction of Improvements. The Owner shall construct the
improvements, described in Exhibit "B", as directed by the City within two (2) years of
submitting the bond to the City for the construction of said improvements, unless an
alternative time has been mutually agreed upon. If the Owner fails to construct said
improvements within the time described above, the City shall have the authority to
construct said improvements. The bond shall be forfeit to pay the costs of construction.
Costs incurred by the City in excess of the bond shall be assessed against the Owner and
filed and recorded as a lien on the Premises under procedures for a mechanic and
materialman's liens.
Improvements A49-eement
Page 2
3. Covenant. The undersigned further agrees that this Agreement and the
promises made herein shall be binding upon the undersigned and their heirs, successors,
and assigns.
4. Standards. Owner agrees to construct said improvements in compliance
with City standards in effect at time of construction.
5. Permits. Owner shall obtain a Right-of-Way permit from the City for all
work performed within the City Right-of-Way. Owner shall also obtain all other permits
required to complete the improvements.
STATE OF WASHINGTON)
COUNTY OF KITSAP )
On this day personally appeared before me V~a-'Poc
to me known to be the individual(s) described in and who executed the within foregoing
instrument, and acknowledged that they signed the same as their free and voluntary act
and dee~ for th~o, ses and purposes tll~ii~lti~gtentioned.
GIVEN ufldro~y hand aa~ill~]~'~RTlt day of IqOYEI~ER ,1996.
at:
My appointment expires: 12/01/99
CITY OF BREMERTON
ACCEPTED:
DIRECTO~R I~W UTILITIES
96805\bk
lmprovements Agt'eemu-nt
Page 3
EXHIBIT A
SUBJECT TO AND TOGETIIEI~ WITH EASEMENTS OF RECORD.
3~.~.Ti. IF.E WITH flME-~l~b IN~EEST I~ ~A~T ~A'
TOGE~E~ ~l~ OHE-THI~ I~T I~ T~A~T
EXHIBIT B
Construct 200 lineal feet of shared access driveway. The driveway
shall be 18 feet wide and consist of 2 inches of Class B asphalt
over 4 inches of crashed surfacing. Also construct 60 LF of 8 inch
sanitary sewer main with all necessary structures and
appurtenances.
ASSIGNMENT OF FUNDS IN LIEU OF BOND
THIS ASSIGNMENT is for ensuring completion and guarantee of the
assignor's construction of
The ~dersigned,
does hereby assign to the City of Bremerton all right, title and
interest in f~ds in the amour of $~/~/, ~3. deposited
in
accost
nu~er DEV L0~ at the CONTINENT~ SAVINGS/SEATTLEBank in the
name of CONTINENTAL SAVINGS B~K The City is hereby authorized
to draw upon the f~ds in case of the occurrence of any of the
followin~ events:
1. Failure of the assi~or to complete the project in
accordance with accepted engineerin~ practice;
2. Failure to comply with the project plans approved by the
City Engineer and ~he Director of Comm~ity Development;
3. ~y failure of the assi~or to comply with retirements
imposed by law or by any ~over~ental a~ency with jurisdiction;
4. Failure to complete project and obtain final approval from
the City before ~~ // ~ , 19 ~.
The City is authorized, in case of the occurrence of one of the
described events, to draw upon the accost to complete the project,
correct any defects discovered, pay re~ired costs and fees, or do any
other thing re~ired to bring the project to timely and proper
completion.
The City may, in addition, withdraw f~ds deposited ~til an
affi~ative, written release of the deposit is received from the City.
If ~he City draws do~ part but no~ all of the f~ds held by the
Bank, pursuant to this assi~ment, any residual f~ds shall be
released to the assignor upon written release by the City, but s~ject
to any lien filed by the City for monies owing the City for any
reason.
ASSIGNMENT OF FUNDS -I-
CSB-SHELLY COUEY 692-1721
EXECUTED, this the ay of .~/9~'~z?~ 1996, for the
Assignor, ~/~7/19,"~, ~q~-.f;~ ~ :
ACCEPTANCE
The undersigned warrants that he/she is authorized to execute
this assignment of funds for the Bank; that the account named has the
required funds in it; that the Bank accepts this assignment and all
the terms contained in it; and the funds will be held until either
drawn down by the City in accordance with this assignment, or a
release, in writing, is received from the City.
ACCEPTED, this the llTH day of NOVEMBER , 19 96, for
the BRANCH MANAGER OF CONTINENTAL BANK:
SAVINGS
ASSISTANT VICE PRESIDENT
Tit le/~, ~-. ~/~'
APPROVED, for the CITY OF BREMERTON, this the ~7~ day
of ~=~~_, 19 ~:
LYNN HORTON, Mayor
Attest:
-KATH~EEN I~. McCLUSKEY
City Clerk
±'AN R. SJEVERS
City Attorney
ASSIGNMENT OF FUNDS -2-