1989-04-03 Performance Contract Fox Hollow
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TOWN OF FRANKFORT
PERFORMANCE ~ArwfI
FOR THE PLAT 0... FOX HOLLOl!)
THIS AGREEMENT, made and entered into the
3
day of
~, 1989, by and between the TOWN OF FRANKFORT, located in
Wright County, State of Minnesota, hereinafter referred to as
the "Town", and CROW RIVER PROPERTIES, a Minnesota partnership,
15451 45th street, Rogers Minnesota 55374, hereinafter referred
to as the "Developer."
WHEREAS, the Developer has applied to the Town Board for
plat approval of the proposed plat known as FOX HOLLOW,
hereinafter ,referred to as the "Plat," which Plat is located
generally in the Southwest Quarter of Section 2, the Southeast
Quarter of section 3, section 10 and the Northwest Quarter of
Section 11, Township 120, Range 23, lying North of the Crow River
and Southerly of Wright County Road No. 36, all in Wright County,
Minnesota, hereinafter "Plat"; and
WHEREAS, the property comprising the Plat is presently zoned
Residential R-1; and
WHEREAS, the Town has given preliminary plat approval to
said Plat; and
WHEREAS, the Developer is required as a condition of plat
approval to enter into a contract binding him to perform certain
acts and duties within a specified time as a contingency of Town
approval of the final plat; and
WHEREAS, the Town requires that said contingencies be
performed iri a timely manner, and that guarantees for the
performance of said contingencies be given assuring the Town of
full performance within a certain specified period of time; and
WHEREAS, the Developer hereby agrees to perform said
contingent acts and duties in a timely manner; and
WHEREAS, the Town has agreed to and does grant its approval
to the Developer's final Plat known as FOX HOLLOW contingent upon
and conditioned upon the Developer's agreement to perform said
acts and duties as are hereinafter set forth.
NOW THEREFORE, IT IS HEREBY COVENANTED AND AGREED, that the
Town will grant its approval to the Plat of. FOX HOLLOW
conditioned upon and contingent upon the timely performance by
the Develope~ of the following:
1. Construction of all improvements in accordance with the
construction plans shown on the grading plan for said plat drawn
by John Oliver & Assoc., Inc., and street construction plans
consisting of two (2) sheets composed of the following drawings:
One sheet entitled original profiles showing the centerline road
profiles and typical street section and a second sheet showing
the centerline of Palmgren Avenue dated July 26, 1988, with the
following additions:
a. The width of the streets shall be as shown on the
plans and the diameter of the bituminous surface
on all cul-de-sacs shall be 100 feet.
b. The Developer shall install at his expenses, right
turn lanes on County Road No. 36 if required by
Wright County.
c. After paving, the Developer shall install four
inches of topsoil adjacent to the streets as shown
on the typical sections (slope to drain),
boulevard areas, and drainage easements which do
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not have established vegetation. Washouts and
ditch grades shall be restored and all areas shall
be ripraped, sodded or seeded using a seed mixture
approved by the Township Engineer.
d. Prior to final acceptance of the improvements by
the Town, the Developer shall sweep the streets
and clean all culverts.
2. The improvements described in Paragraph 1 above shall
be completed in accordance with the following time schedules:
a. All street construction, drainage improvements and
restoration, excluding bituminous surface, shall
be completed prior to June 30, 1989.
b. All bituminous surfacing and final restoration and
cleanup in the Plat shall be completed on or
before September 1, 1989.
3. The estimated cost of the remaining improvements
excluding watermain is $52,000.00.. The Developer hereby agrees
to provide an escrow to the Town in the form of either a Letter
of Credit in form approved by the Town or cash escrow in the
amount of $78,000.00 (150% x $52,000) to guarantee that the
Developer will comply with all of the requirements as set forth
herein and that the installation of all of said improvements is
in a good and workmanshiplike manner, pursuant to this
performance contract and Township construction standards. Should
any of the terms of this Agreement fail to be performed by the
Developer in an acceptable manner and in the time permitted
herein, the Town shall be entitled to recover from the Developer
and/or his escrow on demand by the Town, the amount of money
necessary to complete the improvements to Township standards.
4. The Developer shall pay to the Town all of its expenses
incurred by it for professional and administrative services
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including engineering and legal services in reviewing the plat
and the improvements constructed.
The Developer shall deposit
with the Town the sum of 13,800. 00_ (~200 per platted lot) which
sum shall be used to defray said professional services together
with any additional similar Town expenses which may not be
incurred as of the date of this Agreement. This escrow shall be
deposited with the Town at the time of execution of this
Agreement.
Additional sums may be required to be deposited by
Developer in the event the escrow fund is depleted and the Town
determines additional funds are necessary.
5. At the time of final acceptance by the Town of all
required improvements, any balance in the Developer's escrow
account described above shall be returned to the Developer.
6. In the event the escrow described above is forfeited
and the Town constructs or completes all of the required
improvements as set forth in Paragraphs 1 and 2 above and the
Town finds that the cost of such improvement exceeds the amount
of the escrow, the remaining balance of said costs may be
assessed by the Town against all of the property in the said
plat, or at the Town's option, billed to the Developer who hereby
agrees to pay the same within 30 days of the billing date.
7. The estimated market value of the land to be platted
herein is $97,173.00 and therefore, the Town's required park fee
is ~,717.~ which sum shall be paid to the Township upon
execution of this Agreement.
8. The Developer agrees to maintain the streets in the
4
Plat with the exception of snowplowing until the bituminous
surfacing has been accepted by the Town. Should the Town be
required to grade the streets prior to paving, the cost of such
grading shall be paid for by the Developer or drawn from the
Developer's escrow account.
9. Upon final completion of the streets and acceptance by
the Town, the Developer shall guarantee to the Town for a period
of one (1) year, that the street have been constructed to Town
standards. To guarantee the street quality, the Developer shall
deposit with the Township '$10,000 maintenance bond or Letter of
Credit, at the Developer's option. The form of bond or letter of
credit shal~ be subject to approval by the Town. This security
shall be used during the one year maintenance period to assure
that any problem(s) with the street is repaired by the Developer.
Upon depositing with the Township the $10,000 maintenance bond or
Letter of Credit, the Town shall release to the Developer his
original escrow of $78,000.00 as described in Paragraph 3
herein, but only if the improvements described in Paragraphs 1
and 2 herein have been fully constructed and accepted by the
Town.
10. No building permit for any lot in the Plat will be
issued by the Township unless the Township Building Inspector
has reviewed and approved the design for each lot's individual
on-site sewage disposal system. All sewage treatment systems
must comply with the flood plain area standards within Minnesota
Rules Chapter 7080.0210, Subpart 3F.
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11. The lowest floor, including the basement for any
structure must be at or above the regulatory flood protection
elevation, which is 869 for lots 1 through 10 and 870.8 for lots
11 through 19. The finish ground elevation around all structures
and extending 15 feet beyond the structure shall be no more than
one foot below the regulatory flood protection elevation.
12. The developer at the time of permit application shall
provide written certification that the finished fill ad building
floor elevation were accomplished in accord with the flood plain
regulations and for lots 3, 4, 15, 16 and 17 the certification
must state that the sewage treatment system complies with the
flood plain, standards in Minnesota Rules Chapter 7090.021,
Subpart 3F.
IN WITNESS THEREOF, we have hereunto set our hands and
seals:
DEVELOPER:
CROW RIVER PROPERTIES
TOWN OF FRANKFORT:
By:
Mike McGray, a Partner
i r/~f
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~
STATE OF MINNESOTA )
) SSe
COUNTY OF WRIGHT )
On this ___ day of , 1989, before me a Notary
Public, personally appeared Mike McGray, a Partner, of Crow River
Properties, a Minnesota partnership, to me known to be the person
described in and who executed the foregoing instrument and
acknowledged that he executed the same as his free act and deed.
Notary Public'
STATE OF MINNESOTA )
) ss.
COUNTY OF WRIGHT )
On this day of , 1989, before me a Notary
Public, personally appeared Alfred Zachman and Jean ROlsing, the
Town Board Chairman and the Town Clerk of Frankfort Township to
me known to be the persons described in and who executed the
foregoing instrument and acknowledged that they executed the same
as their free act and deed.
Notary Public