2004-08-11 LOC Reduction Request
~
SEH
MEMORANDUM
TO:
Larry Kruse
Albertville City Administrator
FROM:
Peter J. Carlson, PE
Albertville City Engineer
DATE:
August 11, 2004
RE:
Towne Lakes 3rd Addition
Letter of Credit Reduction Request
Albertville, Minnesota
SEH No. A-ALBEV 0310 J4
I reviewed the construction work completed to date. All municipal utilities and streets have been installed.
The remaining work is the bituminous wear course, turf restoration, and approximately 300 LF of
sidewalk. Assuming Contractor Property Developers Company is current with all fees owned to the City,
I recommend the letter of credit be reduced to no less than $354,000.
Please call me if you have any questions.
djg
c: Tina Lannes, City of Albertville
Mike Couri, City Attorney
Dave Hempel, CPDC
Bob Moberg, SEH
Russ Bly, SEH
u:lalalbev\031000\corr\m-city-081104.doc
Short Elliott Hendrickson Inc., 1200 25th Avenue South, P.O. Box 1717, St. Cloud, MN 56302-1717
SEH is an equal opportunity employer I www.sehinc.comI320.229.4300 I 800.572.0617 I 320.229.4301 fax
Westwood Professional Services, Inc.
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Application for Payment No.8
CPDC-Albertville-Towne lakes 3rd Add
~599 Anagram Drive
~den Prairie, MN 55344
~952) 937-5150
OWNER'S PROJECT#: N1A
ENGINEER'S PROJECT #: 99360.01
CONTRACTOR: Hennen Construction Co
CONTRACT FOR: Utilities and Street Construction
CONTRACT DATE: 9/2/03
FOR WORK ACCOMPLISHED THROUGH THE DATE OF: October 25, 20fM
STATEMENT OF WORK:
Original Contract Amount
Net Change Orders
(thru No. 0)
Current Contract Amount
1,081,901.92
To~IAmountDue ,
Less Amount Re~ined (P%)
Amount Due to Date i
Previous Payments Reoommended
Amount Due This Appl,cation
!
1,007,574.65
50,378.73
957,195.92
946,356.42
10,839.50
0.00
1,081,901.92
CONTRACTOR'S CERTIFICATION:
I
The undersigned CONTRACTOR certifies that (1) all previous progress payments r!eceived from OWNER on account
of work done under the Contract referred. to abo~e have beenappfled to discharge il1 full all obliga. lions of CONTRACTOR
incurred in connection with Work covered by prior Applications for Payment num~ 1 through 7 inclusive; and (2) We
to all work, materials and equipment incorporated in said Work or otherwise rlSted in for covered by this Application for
Payment will pass to OWNER at time of payment free and ~ar of aU liens, claims,. curity, interest and encumbrances
(except such as are covered by Bond acceptable to OWNE~indemnKying OWNE'R against any such lien, Claim, security
interest or encumbrance); and (3) all Work covered by this Application for Payment ,n accordance with the Contract
Documents and not defective as that term is defined in the Contract Documents. i
i
HENNEN CONSTRUCljlON CO.
(Contractor) I
Dated
11-6
.20~
By:
(l~ ._ +....:
~~~
I
Pay Summary:
Pay Application No. 1
Pay Application No.2
Pay Application No.3
Pay Application No.4
Pay AppIicatin No.5
Pay Application No.6
Pay Application No. 7
Pay Application No.8
Total to Date
ENGINEER'S RECOMMENDATION: i
This application (with accompanying documentation) meets the reqUiremen~ of the Contract Documents and
payment of the above AMOUNT DUE THIS APPLICATION is recommend~.
Dated .1 - e . 20 t:tf. WESTWOOD PROFES~IONA~ SERVICES, INC.
=_00 :-~ (j) 0/ 1L
418,667.44 f
27,950.43
78,822.35
118,052.70
65,980.28
-2.961.39
10,839.50
957,195.92
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Doc. No. A 894487
OFFICE OF THE COUNTY RECORDER
WRIGHT COUNTY. MINNESOTA
Certified Filed and/or Recorded on
01-27-2004 at 11 :51
Check #: 5942 Fee: $ 71.00
Payment Code 02
Add!. Fee
Larry A. Unger. County Recorder
CITY OF ALBERTVILLE
MASTER PLANNED UNIT DEVELOPMENT AGREEMENT
TOWNE LAKES THIRD ADnmON
TIllS AGREEMENT, entered into this g'ltl day of {f}~2003 by
and between Contractor Property Developers Company, collectively referred to
herein as "Developer"; and the CITY OF ALBERTVILLE, County of Wright, State
of Minnesota, hereinafter referred to as "City";
WITNESSETH:
WHEREAS, Developer is the fee owner and developer of the real property
(the "Development") described in Exhibit ~ attached hereto and incorporated herein
by reference, which real property is proposed to be subdivided and platted for
development and which real property is subject to the provisions of this Agreement;
and
WHEREAS, Developer has received preliminary plat approval for "Towne
Lakes Phase IT" as shown on Exhibit B and shall hereinafter alternately be referred to
as the "Development" and will submit fmal plats for these lands in phases over the
course of several years; and .
WHEREAS, Developer has received final plat approval for 10 lots (nine of
. which will be used for single family residences and Lot 1, Block 3 will be used for a
community swimming pool) and this development is intended to bear the nameÄ"To\\'Ile Lakes Third Addition" as shown on Exhibit C and which shall hereinafter
~ referred to in its entirety "Said Plat"; and , LAa'lD Tl'iLE. fNC.\
, ~UITE ~:1 '
1~:::J ~"_ I:::: 1 U' . -:: ~:;J.I')
r-- .:~ r: .:...-.~ ~ VJ:l112
t,,.... t.v. ~ . _~_
~
I
. ' . .
F. Developer shall install stonn water retention/water quality ponds and
basins upon the Development as shown on the Grading, Drainage and
Erosion Control Plan attached as Exhibit o. Said ponds and basins
shall be dedicated to the City, and Developer shall provide the City
with perpetual drainage easements over such ponds. Said retention
ponds and basins shall be installed prior to the installation of utilities.
4. Intended Use of Subdivision Lots.
A. It is the Developer's and City's intent that a total ()ftwo single-family
homes, seven detached dwelling units and one swimming pool with
community building (on Lot 1, Block 3) be constructed on the
residentially zoned lots being final platted as numbered lots and blocks in
Said Plat, with one dwelling unit per numbered lot Developer agrees that
it shall not cOnstruct any dwelling units other than the above referenced
dwelling units on the land in Said Plat.
5. Surety Requirements.
()
B.
Developer will provide the City with an irrevocable letter of credit (or
other surety as approved by the City Attorney) as security that the
obligations of the Developer under this contract shall be performed.
Said letter of credit or surety shall be in the amount of$I,345,400
representing the sum of 100% of the. estimated cost of the Municipal
Improvements ($1,190,000), 50% of the on and off-site improvements
($5,400), and 150% of the estimated cost for landscaping/screening
materials ($150,000). Said letter of credit or surety must meet the
approval of the City attorney as to form and issuing bank.
The City may draw on said letter of credit or surety to complete work
not performed by Developer (including but not limited to on- and off-
site improvements, Municipal Improvements described above, erosion
control, and other such measures), to pay liens on property to be
dedicated to the City, to reimburse itself for costs incurred in the
drafting, execution, administration or enforcement of this Agreement,
to repair or correct deficiencies or other problems which occur to the
Municipal Improvements during the warranty period, or to otherwise
fulfill the obligations of Developer under this agreement.
'<i
);./
c. In the event that any cash, irrevocable letter of credit, or other surety
referred to herein is ever utilized and found to be deficient in amount
to payor reimburse the City in total as required herein, the Developer
agrees that upon being billed by the City, Developer will pay within
13