The URL can be used to link to this page

Home My WebLink AboutDeveloper Agreement/A. Earl Struensee/park Ridge Estates -] [ 13 SEA 3 X87 ._..4' CITY CLERK'S 1..)Fv STANDBY LETTER OF CREDIT REFERENCE NO. 247 AP P OV3 D FOR ACCOUNT OF: City of Oshkosh \)rp 0, P87 BY ORDER OF: A. Earl Struensee A .a. , ' ►-I= sSr CITY ATTORNEY (Park Ridge Estates) OSHKOSH,WISCONSIN date for the plat is June 18, 1987 This letter of credit shall constitute further guarantee that all obligations to subcontractors providing work to this development have been satisfied. 7At J l iJ� v ' LIL 9� = Valley Bank !CITY CLERKS °FFR ; PO,BOX 948.50 PEARL AVENUE,OSHKOSH,WISCONSIN 54902 PHONE(414)235-4140 DATE September 3, 1987 STANDBY LETTER OF CREDIT APPROVED REFERENCE NO. 247 4sEP o - �9a� r CRY A RNEY GENTLEMEN: OSHKOSH,WISCONSIN We hereby establish our IRREVOCABLE CREDIT in your favor. For account of City of Oshkosh Oshkosh, Wisconsin By order of A. Earl Struensee 4750 North Shore Drive, Oshkosh, WI Park Ridge Estates not exceeding a total of $96,603.26 available by your drafts at sight drawn on Valley Bank of Oshkosh to be accompanied by the following documents: Stipulation that the following events have not taken place within the specified time frames and accompanying invoices for the work which has been completed per the following instructions: concrete paving, curb and gutter will be completed by the Struensees, or appropriate d/b/ats, or contractors of the said Struensees, no later than three (3) years from the date of recording of the plat, except that side- walks shall be constructed when seventy-five per cent (75%) of the lots within the subdi- vision are developed, but in no event before the street is paved and in no event beyond a period of five (5) years after Common Council approval of the final plat. Final approval (Continued on attached sheet) All drafts drawn must indicate "Drawn under Valley Bank Irrevocable Credit No. 247 The amount of each draft negotiated, with the date of the negotiation, must be endorsed hereon by the negotiating bank and any draft presented to us shall constitute a warranty of the negotiating bank that such endorsement was effected. We hereby agree with you and with the endorsers,and Bona Fide holders that all drafts drawn by virtue of this credit and in accordance with the above stipulated terms,will be duly honored upon presentation and delivery of documents, as specified,to Valley Bank of Oshkosh, P.O. Box 948,Oshkosh,WI 54902, if drawn and negotiated,or if drawn and presented at this office on or beforeSeptember 3, 1988. Yours very truly, VALLEY BANK OF OSHKOSH C' ``: Except as otherwise expressly stated,this credit is rid .' /t- A ''`.�1 subject to the Uniform Customs and Practice for Joe M.Creery thorized Signature Commercial Documentary Credits fixed by the International Chamber of Commerce, Publication Rodn M. Hoe ' t • Authorized Signature No.290. (€- iL , .. ��A � DEVELOPER ' S AGREEMENT PARK RIDGE ESTATES IMPROVEMENTS " THIS AGREEMENT is made pursuant to resolution #246 adopted September 3 , 1987 , by the Common Council of the City of Oshkosh for private installation of subdivision improvements required by Section 30-'42 of the Oshkosh Municipal Code . WHEREAS , the Developer of a final plat known as Park Ridge Estates desires to install required subdivision improvements privately without using the special assessment procedures authorized in Chapter 25 of the Oshkosh Municipal Code ; and WHEREAS, Section 30-142 of the Oshkosh Municipal Code permits for private installation upon the developer entering into this agreement and filing acceptable surety guaranteeing such improvements shall be completed within three years , except for sidewalks which shall be installed within five years , from the date of final plat approval , to-wit : June 18 , 1987 ; and WHEREAS, the developer has completed all legal procedures necessary to enter into this agreement ; NOW, THEREFORE, IT IS AGREED to by and between the City of Oshkosh , a municipal corporation located in Winnebago County , Wisconsin ("City") and A. Earl Struensee ("Owner") , in reliance on the representations and covenants made in this agreement , as follows : 1 . Owner covenants and warrants that it is the owner of all property described as follows : PARK RIDGE ESTATES PLAT , Lots 2-27 2. Owner shall install , and the City specifically authorizes such installation, at no cost to the City , various improvements to said property described as follows : Engineering services for all improvements . Grading and graveling Sanitary sewer , water main , laterals and storm sewers Concrete paving , curb and gutter Sidewalk 3. The City shall provide inspection and staking services as necessary to facilitate private installations which shall be performed to the specifications established and to the satisfaction of the City before the City shall accept the dedication of such improvements . 4. As a guarantee that the improvements shall be installed , the developer has filed satisfactory surety in an amount determined by the Department of Public Works . 1 5. The applicable provisions of Sections 30-35 through 30-44 , the subdivision regulations , of the Oshkosh Municipal Code are specifically incorporated by reference into this agreement . 6. This Agreement and any attachments may be recorded at the City's option and if so done , shall serve as a Notice of Lien against such properties . IN WITNESS WHEREOF , the parties have caused this Agreement to be signed by the proper, duly authorized persons and their corporate seals , if any , to be affixed to this Agreement . Dated : September ___ /( _, 1987 . In the Presence of: Witness ) A . Earl Struensee (Owner) Witness ) CITY OF OS KOSH , a municipal corporation (Witness ) By :_/ � = ! Wi{lliam D .Frueh , City Manager (Witness ) And • �/IL `LIJA%L�_ Y'_ Donna C . Serwas , City Clerk STATE OF WISCONSIN ) ) SS . WINNEBAGO COUNTY ) Personally came before me this cx9 ,4day of September, 1987 , the above-named A. Earl Struensee, to *i - known to be the person who executed the foregoing instrument and - , owledged that he executed the foregoing instrument . 1 -444 go - ary Public , Winnebago Co . , WI Commission : STATE OF WISCONSIN ) ) SS . WINNEBAGO COUNTY ) 1 )C f Personally came before me this I _ day of Sept-e-mber, 1987 , the above-named William D. Frueh, City Manager, and Donna C. Serwas , City Clerk , of the City of Oshkosh , a municipal corporation , to me known to be the persons who executed the foregoing instrument , and 7 to me known to be such officers of said corporation , and acknow- ledged that they executed the foregoing instrument as such officers as the deed of said corporation , by its authority . C— ±-t 4---e----.:2-c-- .. r` r C Notary Public , Winnebago Co . , WI My Commission : /-,.-:_i/- 524) Approved as to Form and Execution: Warren P . Kraft , Ass . City Attorney This document drafted by : Attorney John W. Pence City Attorney Oshkosh , WI 54901 i V Valley Bank P.O.BOX 948,50 PEARL AVENUE.OSHKOSH.WISCONSIN 54902 PHONE(414)2354140 DATE September 3, 1987 STANDBY LETTER OF CREDIT APPROVED REFERENCE NO. 247 C\SEPO8)7 MI r a`Ty A RMY GENTLEMEN: OSHKOSH,WISCONSIN • We hereby establish our IRREVOCABLE CREDIT in your favor. For account of City of Oshkosh Oshkosh, Wisconsin By order of A. Earl Struensee 4750 North Shore Drive, Oshkosh, WI Park Ridge Estates not exceeding a total of $96,603.26 available by your drafts at sight drawn on Valley Bank of Oshkosh to be accompanied by the following documents: Stipulation that the following events have not taken place within the specified time frames and accompanying invoices for the work which has been completed per the following instructions: concrete paving, curb and gutter will be completed by the Struensees, or appropriate d/b/a`s, or contractors of the said Struensees, no later than three (3) years from the date of recording of the plat, except that side- walks shall be constructed when seventy-five per cent (75%) of the lots within the subdi- vision are developed, but in no event before the street is paved and in no event beyond a period of five (5) years after Common Council approval of the final plat. Final approval (Continued on attached sheet) All drafts drawn must indicate "Drawn under Valley Bank Irrevocable Credit No. 247 The amount of each draft negotiated,with the date of the negotiation, must be endorsed hereon by the negotiating bank and any draft presented to us shall constitute a warranty of the negotiating bank that such endorsement was effected. We hereby agree with you and with the endorsers,and Bona Fide holders that all drafts drawn by virtue of this credit and in accordance with the above stipulated terms,will be duly honored upon presentation and delivery of documents, as specified,to Valley Bank of Oshkosh, P.O.Box 948,Oshkosh,WI 54902, if drawn and negotiated,or if drawn and presented at this office on or before§eptember 3, 1988. Yours very truly, VALLEY BANK OF OSHKOSH /". ,ftb Z Except as otherwise expressly stated,this credit is '�/ ' ' -. �. /' r subject to the Uniform Customs and Practice for Joe M•Creery tnorized Signature Commercial Documentary Credits fixed by the International Chamber of Commerce, Publication Rodne• M. Hoe ' t - Authorized Signature No.290. STANDBY LETTER OF CREDIT REFERENCE NO. 247 APPROVED FOR ACCOUNT OF: City of Oshkosh EP0y187 � BY ORDER OF: A. Earl Struensee srarvATTo.NEv (Park Ridge Estates) OSHKOSH,WISCONSIN date for the plat is June 18, 1987 This letter of credit shall constitute further guarantee that all obligations to subcontractors providing work to this development have been satisfied. • ,�e