HomeMy WebLinkAbout#1 amend financing improvementsThls.infornation must be completed by submitter. document title, name & retum address. and PIN (if required). Other information such as
the granting clause, legal description, etc„ maybe placed on this first page of the document or may be placed on additional pages-of the
document. Note: Use of this cover page adds one page to your document and $22.00 to the recording fee Wisconsin Statutes, 59.43(2m).
WRDA HB'Rev. IM2004
1R 11
FIRST AMENDMENT '
TO DEVELOPER'S AGREEMENT
FOR FINANCING IMPROVEMENTS
THIS FIRST AMENDMENT to Developer's Agreement for Financing Improvements
("First Amendment") is made and entered into as of the day of September, 2008 by
and between the City of Oshkosh, a municipal corporation located in Winnebago County,
Wisconsin (the "City") and GF Holdings, LLC, a Wisconsin limited liability company (the
"Developer ").
WHEREAS, pursuant to Section 66.0703 of the Wisconsin Statutes, the City and the
Developer entered into a Developer's Agreement for Financing Improvements dated
September 22, 2005 (the "Developer's Agreement ") providing for levying and assessing various
improvements to the property described therein; and
WHEREAS, the property described in and subject to the Developer's Agreement
included twenty (20) single - family residential condominium units (the "Condominium Units ")
referred to in the Developer's Agreement as "Bayhome Lots 1 -20" created by the Declaration of
Condominium (the "Condominium Declaration") and Condominium Plat (the "Condominium
Plat ") of Edgewood Village 2005 BayHomes Condominium (the "Condominium ") recorded in
the office of the Register of Deeds for Winnebago County, Wisconsin on December 20, 2005 as
Document No. 1382069; and
WHEREAS, a copy of the Condominium Plat is attached hereto and incorporated as
Exhibit 1 of this First Amendment; and
WHEREAS, the Developer desires to record an Amended Condominium Declaration (the
"Amended Condominium Declaration") and Amended Condominium Plat (the "Amended
Condominium Plat) to reduce the number of Condominium Units/Bayhome Lots from twenty
(20) to eighteen (18); and
WHEREAS, a copy of the Amended Condominium Plat is attached hereto and
incorporated as Exhibit 2 of this First Amendment; and
WHEREAS, the reduction in the number of Condominium Units /Bayhome Lots will
affect the special assessments levied against the Condominium Units referred to as "Bayhome
Lots 1 -20" in the Developer's Agreement; and
WHEREAS, two (2) of the Condominium Units/Bayhome Lots have been sold by the
Developer, and the special assessments due upon the voluntary divestiture of title to said
Condominium Units have been paid by the Developer; and
WHEREAS, the Developer is still the owner of the other eighteen (18) Condominium
Units/Bayhome Lots subject to the Developer's Agreement; and
WHEREAS, the City and the Developer are entering into this First Amendment for the
purpose of amending the Developer's Agreement to properly address all issues related to the
Amended Condominium Declaration and Amended Condominium Plat, including the reduction
in the number of Condominium Units/Bayhome Lots from twenty (20) to eighteen (18).
NOW, THEREFORE, IT IS HEREBY AGREED to by and between the City and the
Developer, in reliance upon the representations and covenants made herein, that the Developer's
Agreement shall be amended as follows:
1. The foregoing recitals are adopted by the parties, incorporated herein and made a
part of this First Amendment.
2. This First Amendment shall only apply to the tax parcels referred to as "Bayhome
Lots 1 -20" in the Developer's Agreement.
3. All references to "Bayhome Lots" shall also apply to the Condominium Unit with the
corresponding number (i.e., a reference to Bayhome Lot 1 also refers to Condominium Unit 1).
4. The special assessments due upon the voluntary divestiture of title to the tax
parcels designated as Bayhome Lot 13 /Condominium Unit 13 and Bayhome Lot 14/
Condominium Unit 14 on the Condominium Plat were paid in full upon the sale of those
Bayhome Lots/Condominium Units.
5. The Developer shall pay the special assessments that would have been due upon
the voluntary divestiture of title to Bayhome Lot 19 /Condominium Unit 19 and Bayhome Lot
20 /Condominium Unit 20 (which will be eliminated by the Amended Condominium Declaration
and the Amended Condominium Plat) in full, prior to the City's approval of the Amended
Condominium Declaration and Amended Condominium Plat.
6. The outstanding special assessments on the tax parcels designated as Bayhome
Lots/Condominium Units 1 -12 and 15 -18 under the Condominium Declaration and
Condominium Plat shall remain in full force and effect and shall continue to be liens upon the tax
parcels designated as Bayhome Lots/Condominium Units 1 -12 and 15 -18 under the Amended
Condominium Declaration and Amended Condominium Plat.
7. The Developer's Agreement (including all attachments) is incorporated herein by
reference. All provisions of the Developer's Agreement not expressly modified by this First
Amendment shall remain in full force and effect.
8. This First Amendment and its Exhibits may be recorded at -the City's option, and
if so done, this document shall serve as notice of lien against such properties.
2
IN WITNESS WHEREOF, the parties heretofore have caused this First Amendment to be
signed by the proper persons of each party and their corporate seals, if any, to be hereunto
affixed.
GF HOLDINGS, LLC
By.' -�,
Fr Zcis' J. Shefchik, M girj ember
CITY OF OSHKOSH
By:
A. City ANN( nccyr
n
Pamela R. Ubrig, City Clerk
Approved as to Form and Execution:
111 a� - 0 zv'�'
1
L Lorenson, Attorney
This document was drafted by:
Russell J. Reff, Attorney at Law
Reff, Baivier, Bermingham & Lim, S.C.
217 Ceape Avenue, P.O. Box 1190
Oshkosh, WI 54903 -1190
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WAIVER OF SPECIAL ASSESSMENT
HEARING UNDER SECTION 66.0703, WISCONSIN STATUTES
The undersigned, owner of property benefited by the following improvements to be
made by the City of Oshkosh, Winnebago County, State of Wisconsin, to -wit:
For public construction, design, surveying and inspection of water main, sanitary sewer,
water & sewer laterals and sidewalk.
For private construction and public surveying and inspection for sanitary sewer, storm
sewer, water main, laterals, sidewalk, grading and graveling and concrete street paving.
In consideration of the construction of said improvements by the City of Oshkosh,
Wisconsin, I hereby admit that such public improvement will benefit said property and
consent to the levying of special assessments against the premises under Section
66.0703 of the Wisconsin Statutes for the cost of such improvements. In accordance
with Section 66.0703 of the Wisconsin Statutes, I hereby waive all special assessment
notices and hearings required by Section 66.0703 of the Wisconsin Statutes; and I
further agree and admit that the benefit of my property from the construction of such
improvements is in proportion to the footage thereof.
Description of Premises
Edgewood Village Subdivision
Bayhome Lots /Condominium Units 1-12,15-18
Fraser Drive (from Edgewood Road to approx. 384 ft. West) and Hemlock Court
1. Sanitary Sewer & Laterals (Private Construction)
Includes internal subdivision sewer and 1/2 of the estimated cost of the main extension
in Edgewood Lane from the existing manhole north to the northerly plat boundary of
Blackbird Acres.
Estimated Construction Cost $138,920.00 Private
6% Survey and Inspection $ 4,405.00 Invoice
*A credit in the amount of $3,930.00 has been applied to the City charges. The credit is
for the sanitary sewer over sizing from 10 -inch to 15 -inch, The City charge is adjusted
as follows: $8,335.00 - $3,930.00 = $4,405.00.
2. Sanitary Sewer (Public Construction)
Extension of sanitary sewer main from the northerly boundary of the Blackbird Acres
subdivision to Ryf Road. 1/2 of the cost of a 10 -inch sanitary sewer main will be
assessed to the adjacent undeveloped property on the east and west sides of
Edgewood Lane, respectively.
1/2 of Estimated Construction Cost $51,300.00 Public **
6% Survey & Inspection $ 3,078.00
6% PM /Design $ 3,078.00
Sub -total $57,456.00
' This amount does not include lateral installation as lateral locations have not been
defined. Laterals to be installed privately
Assessment per lot (Bayhome Lots/Condominium Units 1 -12, 15 -18)
$57,456.00/40 tots = $1,436.40 /lot
3. Water Main with Laterals (Private Construction)
Estimated Construction Cost $87,331.00 Private
6% Survey and Inspection $ 2,490.00 Invoice
Includes internal water main for the subdivision and water main along Edgewood Drive
from Shore Preserve Drive south to the end of the Blackbird Acres Subdivision.
* A credit in the amount of $2,250.00 has been applied to the City charges. The credit
is for the Edgewood Road water main over sizing from 8 -inch to 10 -inch. The City
charge is adjusted as follows: $5,240.00 - $2,750.00 = $2,490.00.
4. Water Main (Public Construction)
Extension of water main from Shore Preserve Drive north to Ryf Road and the
extension of water main along Ryf Road from Edgewood Lane west to plat boundary.
Edgewood Village is responsible for 1/2 of the cost of an 8 -inch water main at these
locations. Lateral costs are not included with this estimate. Lateral cost/!nstallation will
be the responsibility of the adjacent property owners.
1/2 of Estimated Construction Cost $33,463.00 Public
6% Survey & Inspection $ 2,007.00
6% PM /Design $ 2,007.00
Subtract Credit for Over Size <$1.375.00>
Sub -total $36,104.00
** A credit in the amount of $1,375.00 is applied to the City charges, The credit .is for
the water main over sizing along Edgewood Lane from Shore Preserve Drive north to
Ryf Road. For the calculation of the estimated cost of the water main along Ryf Road
the estimated value of and 8 -inch water main was used, thus no additional credit was
applied to this section of future water main.
Assessment per lot (Bayhome Lots /Condominium Units 1 -12, 15 -18)
$36,104.00740 lots = $902.60/lot
5. Storm Sewerw /Laterals ( Private Construction)
Estimated Construction Cost
$69,568.00 Private
6% Survey and
$ 4,174.00 Invoice
6. Sidewalk (Public Construction)
Includes internal concrete sidewalk and concrete sidewalk along Edgewood Road,
Edgewood Lane & Ryf Road.
Internal Sidewalk Estimated Construction Cost:
3,140 If.of sidewalk x $20.00 /if
$62,800.00
6% Survey & Inspection
$ 3,768.00
6% PM /Design
$ 3.768.00
Total
$70,336.00
External Sidewalk Estimated Construction Cost
2,138 If. of sidewalk x $20.00 /If
$42,760.00
6% Survey & Inspection
$ 2,566.00
6% PM /Design
$ 2,566.00
Total
$47,892.00
Internal Sidewalk Assessment per lot (Bayhome Lots /Condominiums 1-12,15-18)
$70,336.00/40 Lots = $1,758.40 1lot
External Sidewalk Assessment per lot (Bayhome Lots /Condominiums 1-12,15-18)
$47,892.00/40 Lots = $1,197.30/lot
If the sidewalk/trails are privately constructed the City
staking & inspection fee is
$6,878.00 (Invoice)
7. Sidewalk/Trail (Private Construction)
Estimate Cost at $20.00 per front foot. Includes internal stone chip walks.
Estimated Construction Cost: 1,455 If.x $20.00 1If = $29,100.00
6% Inspection
= $ 1,746.00 (Invoice)
8. Grading and Graveling (Private Construction)
Center Line Feet of Roadway =1160 Lf.
Cost per Center Line Foot = $36 11-f.
Estimated Construction Cost
$ 41,760.00
6 % Survey and Inspection
$ 2,506.00 (Invoice)
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9. Concrete Paving (Private Construction -- Year 2008)
Center Line Feet of Roadway= 1160 U. (Includes Large Cul-de-sacs for)
Cost per Center Line Foot = $135.00/If
Include six (6) Handicapped Ramps 5x $600.00 = $3,000.00
Estimated Construction Cost $159,600.00
6% Inspection $ 9,576.00 (invoice)
10. The Developer shall pay the special assessments that would have been due
upon the voluntary divestiture of title to Bayhome Lot 19 /Condominium Unit 19 and
Bayhome Lot 20 /Condominium Unit 20 (which will be eliminated by the Amended
Condominium Declaration and the Amended Condomin Plat) in full prior to the City's
approval of the Amended Condominium Declaration and Amended Condominium Plat.
3 -Year Irrevocable Letter of Credit for Private Construction = $526,279.00
3 -Year Irrevocable Letter of Credit for Public Services = $31,775.00
1 -Year Irrevocable Letter of Credit Guarantee After Acceptance of
Private Construction = $105,256.00
Signature of Owner:
GF HOz , LLC
By: , G
ate
Date
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