HomeMy WebLinkAboutPremier Ripple Road LLC Developer's Agreement Ripple Avenue EstatesPREMIER RIPPLE ROAD, LLC
DEVELOPER'S AGREEMENT
(RIPPLE AVENUE ESTATES)
Document Number Document Title
Description of Property
Y' VIIlI'�IIII�IIIIIIVI!IIIE
1752842
REGISTER'S OFFICE
WINNEBAGO COUNTY, WI
RECORDED ON
10/30/2017 9:24 AM
NATALIE STROHMEYER
REGISTER OF DEEDS
Recording AtCORDING FEE 30.00
Name and Return AdZI es3'
City Attorney Office
P O Box 1130
Oshkosh WI 549.Q -N30 16
Parcel Identification Numbers (PIN)
14-1123-01-00
Lot 1 of Vol. 1 Certified Survey Maps, Page 7251, Map No. 7251, Doc No. 1747144, said
map being part of the NW1/4 of the NW1/4 of Section 12, Township 17 North, Range 16
East, in the City of Oshkosh, Winnebago County, Wisconsin.
This instrument drafted by:
Attorney Lynn A. Lorenson
Oshkosh, WI 54903-1130
FE�,
�'6 2017
CITY CLERK'S OFFICE
DEVELOPER'S AGREEMENT
FOR FINANCING IMPROVEMENTS
THIS AGREEMENT is made pursuant to Section 66.0703 of the Wisconsin Statutes
providing for levying and assessing the cost of various improvements to the property herein
described.
WHEREAS, the Common Council of the City of Oshkosh approved initial and final
resolutions pursuant to Section 66.0703 of the Wisconsin Statutes upon execution and
approval of a waiver, executed by the undersigned, developer of property herein described
of special assessment notices and hearing; and
WHEREAS, the undersigned developer has agreed, in consideration of installation
of various improvements and performance of services, to pay the full cost of such
improvements/services and related costs through invoice and/or special assessment
financing pursuant to Section 25-83 through 25-89 of the Oshkosh Municipal Code upon
certification by the City Engineer for the City of Oshkosh that said improvements have been
completed, except for certain improvements which may be installed by and/or paid for by
the undersigned developer; and
MNoce.r WHEREAS, the Common Council of the City of Oshkosh, by resolution adopted
September jam, 2017, authorized and directed the proper City officials to enter into an
appropriate agreement to provide for full payment by the undersigned developer of said
improvements and related costs, and related matters;
NOW, THEREFORE, IT IS HEREBY AGREED to by and between the City of
Oshkosh, a municipal corporation located in Winnebago County, Wisconsin ("CITY"), and
Premier Ripple Road, LLC, a Wisconsin limited liability company ("DEVELOPER"), in
reliance on the representation and covenants made herein, as follows:
1. DEVELOPER covenants and warrants that it is the owner of all the property
described as follows:
Lot 1 of Vol. 1 Certified Survey Maps, Page 7251, Map No. 7251, Doc No.
1747144, said map being part of the NW1/4 of the NW1/4 of Section 12,
Township 17 North, Range 16 East, in the City of Oshkosh, Winnebago
County, Wisconsin.
2. DEVELOPER has requested, and consents to, services from and installation
by CITY of various improvements described as follows:
Inspection Services for Private Construction of:
Sanitary Sewer and Laterals, Water Main and Laterals, Grading, Graveling,
Restoration, and Asphalt Paving.
Page 1 of 7
Construction by the CITY of:
No construction by CITY.
3. The DEVELOPER shall install, and the CITY expressly consents to
DEVELOPER installation of the following improvements:
Sanitary Sewer and Laterals, Water Main and Laterals, Grading, Graveling,
Restoration and Asphalt Paving. DEVELOPER shall perform construction
staking/survey.
DEVELOPER shall perform all survey, grading, restoration, and inspection for all
areas outside of the right-of-way, including all lot corner elevations.
All services and installations shall be according to plans and specifications, and
subject to the approval and acceptance of the City Engineer.
4. No occupancy permits will be issued for any lot to which utilities have
not been extended to and/or for any lot to which access has not been provided by
graded, graveled, and properly maintained temporary roads. No occupancy permits
will be issued for any lots until an "as -built" grading and drainage plan has been
approved by the Department of Public Works. At a minimum, the as -built plan shall
show all drainage features, and lot line grades. The as -built plan shall be certified by
a Professional Engineer (PE) or a Registered Land Surveyor (RLS) licensed in the
State of Wisconsin to be in compliance with the grading and drainage plan approved
by the Department of Public Works. All storm water management facilities shall be
compared to the original design. Any deviation from the design shall be noted, and
the Department of Public Works may require the DEVELOPER to confirm that the as -
built facilities comply with the storm water management ordinance. The
DEVELOPER intends to construct eight (8) apartment buildings with twelve (12)
apartment units in each building (the "Project"). Notwithstanding anything aforesaid
to the contrary, the City's Inspection Services Division shall not require the
completion of all buildings within the Project as a condition to the issuance of an
occupancy permit for each building within the Project as each building is completed
and readied for occupancy. The DEVELOPER shall be entitled to, and the City's
Inspection Services Division shall issue, an Occupancy Permit for each apartment
building within the Project as each building is completed. Byway of clarification, no
occupancy permit shall be issued until such time as the storm water management
facilities are completed, and sewer and water service are available to each building
for which the occupancy permit is sought.
Incorporated by reference within this Agreement is the approved grading and
drainage plan as required by Chapter 30 of the Oshkosh Municipal Code. These plans
shall be adhered to and maintained by the respective lot owners in a manner which is
consistent with the original design, function, and capacity of the plan. If the respective lot
owners fail, in the sole judgment of the CITY, to properly maintain the grading and drainage
Page 2 of 7
plan, the CITY shall give notice of such fact to the respective owner(s) who shall have the
time specified in the notice to correct the deficiencies. If the owner(s) does not
satisfactorily complete the work within the time allotted, the CITY may enter the property,
using its own employees and equipment or contracting with others to complete the work.
DEVELOPER hereby grants in perpetuity to the CITY reasonable and appropriate access
easements over this subdivision for such purposes. Cost incurred by the CITY will be
levied against the respective lot(s) as a special charge pursuant to Section 66.0627 of the
Wisconsin Statutes. This provision constitutes DEVELOPER's, and any respective lot
owner's, waiver of the notice of hearing and hearing otherwise required by Section
66.0703 of the Wisconsin Statutes. This covenant is intended to run with the land and to
survive any subsequent divestiture of title by DEVELOPER, or any respective lot owner(s)
to any successor in title, but is not intended to benefit third parties who are not a party to
this Agreement.
The DEVELOPER agrees to enter into a Long -Term Maintenance Agreement with
the CITY prior to any occupancy permits being granted. The Agreement will establish
maintenance responsibilities for the storm water management system.
5. It is specifically understood by and between the parties that the amounts set
forth in the attached Exhibit "A" Waiver of Special Assessment Notices and Hearing under
Section 66.0703, Wisconsin Statutes are estimates only. Invoices and assessments shall
be based upon the actual costs of services and construction. In the event that the
estimated cost exceeds the actual costs of services and construction, the DEVELOPER
shall be responsible only for the actual costs of services and construction. In the event that
the actual costs of services and construction exceed the estimated costs, the CITY shall be
entitled to assess the property for any excess costs pursuant to statutory notice and
hearing or upon execution of an appropriate waiver.
A. Payment for City Services
The DEVELOPER shall supply a cash payment prior to approval for the services to
be provided by the CITY. The cost is included in Exhibit "A". The DEVELOPER
shall pay all invoices, in cash, within thirty (30) days of invoice from the CITY for
additional services.
Inspection Fees for:
Sanitary Sewer and Laterals, Water Main and Laterals, Grading, Graveling,
Restoration, and Asphalt Paving. DEVELOPER shall perform construction
staking/survey.
6. The attached exhibit, acknowledged by CITY and DEVELOPER as being true
and correct, is incorporated by reference as if fully stated herein:
EXHIBIT "A" - Waiver of Special Assessment Notices and
Hearing under Section 66.0703, Wisconsin Statutes.
Page 3 of 7
7. DEVELOPER, and any successors in title, covenants and agrees to release
the CITY, its assigns, employees, agents, and contractors from any and all claims arising
from the CITY's performance of its obligations under this Agreement and shall further hold
the CITY harmless for any and all claims arising from DEVELOPER's performance of its
obligations under this Agreement, and shall indemnify and refund to the CITY all sums
which the CITY may become obligated to pay, including attorney fees, arising from the
parties' performances of this Agreement within thirty (30) days of written demand for
payment.
8. Any refund which may be due DEVELOPER as a result of any special
assessment being in excess of the actual amount paid by CITY for said improvements is
not assignable by DEVELOPER.
9. All privately -constructed improvements within any Right -of -Way shall be
completed by July 31, 2018 (Grade, Gravel, and Asphalt Paving) or the DEVELOPER shall
be considered in default of this Agreement and subject to the provisions of Paragraph 11
relating thereto.
10. The DEVELOPER shall provide a letter(s) of credit, which meets the approval
of the City Attorney, in an amount equal to the estimated cost of any publicly -constructed
improvements and/or services set forth in Exhibit "A" attached hereto which may be
drawn upon by the CITY in payment of construction and/or related costs for the public
improvements. Such letter(s) of credit shall be filed in the office of the City Clerk prior to
approval of the Final Plat by the Common Council.
Prior to approval by the Common Council, the DEVELOPER shall file a two-year
performance bond or letter(s) of credit, which shall be renewable at the option of the City of
Oshkosh if such construction has not been completed by July 31, 2018 and which meets
the approval of the City Attorney, which shall guaranty DEVELOPER's performance of any
privately -constructed improvements as set forth in Exhibit "A" attached hereto. The
DEVELOPER may request a reduction in the letter of credit once annually for work that is
complete, but not accepted. The CITY will review the request and reduce the letter of
credit as it deems appropriate, portions of the value for the work completed will be retained
until the guarantee letter of credit is filled. After written acceptance by the CITY of any
privately -constructed improvements, DEVELOPER shall submit a letter of credit in the
amount specified in the attached Exhibit "A" as a guarantee of such improvements for a
period of two (2) years from the date of acceptance. The DEVELOPER shall be
responsible for repairs to said privately -constructed improvements during this two-year
guaranty period. If the DEVELOPER fails to make any necessary repairs within sixty (60)
days of receiving written notice from the CITY, unless such repair work is prevented by
weather or other conditions beyond the control of the DEVELOPER, the CITY may make
such repairs and draw upon the letter of credit or performance bonds for payment, in
addition to any remedies available to the CITY hereunder.
Failure to file an appropriate letter of credit shall entitle the CITY to stop all
construction work upon the project including construction performed by private contractors,
Page 4 of 7
by notice to the DEVELOPER and any contractors. Notice may be given personally to an
individual representative of the contractor or DEVELOPER and/or sent by mail to the
DEVELOPER or contractor. If construction work continues without filing of an appropriate
bond, the CITY shall be entitled to seek an injunction to prevent further work on the project
until such time as an appropriate bond is filed and to seek such other and further relief as
may be deemed appropriate. In addition to any equitable relief, the CITY may seek
monetary damages and upon judgment shall be entitled to its costs and fees in pursuit of
any action under the terms of this Paragraph.
11. In addition to the remedies for default provided to the CITY by the financial
guarantees contained within this Agreement, the CITY shall have the right without notice or
hearing to DEVELOPER, or any successor in title, to impose special assessments for any
amount to which the CITY is entitled by virtue of this Agreement upon each and every lot
within the subdivision. Such assessments shall be imposed on the individual parcels in
accordance with such parcel's share of the amount to which the CITY is entitled in
accordance with this Agreement and which amount has not been paid by the DEVELOPER
of such parcel or its successors or assigns. With respect to defaulting DEVELOPER, this
provision constitutes DEVELOPER's consent to the installation by the CITY or designee of
all public improvements and remediations required by this Agreement and constitutes
DEVELOPER's, and any successors in title, waiver and consent to all special assessment
proceedings as described in Section 66.0703 of the Wisconsin Statutes. This covenant is
intended to run with the land and to survive any subsequent divestiture of title by
DEVELOPER to, and shall be binding on, any successor in title. The remedies provided in
this Agreement are not exclusive. The CITY may use any other remedies available to it.
12. This Agreement and its attachments, may be recorded at CITY's option, and
if so done, this document shall serve as Notice of Lien against such properties.
Page 5 of 7
IN WITNESS WHEREOF, the parties heretofore have caused this Agreement to be
signed by the proper persons of each party and their corporate seals, if any, to be hereunto
affixed.
Dated: , 2017.
In the Presence of:
Premier Ripple Road, LLC, a Wisconsin Limited Liability Company
By: Calvin M. Akin
Sole Member
3120 Gateway Road
Brookfield, WI 53045
CITY OF OSHKOSH
By:
Mark A. Rohloff, City Manager
Ap ryved as to For and Execution:
C n. Lorens n C y Attorney
STATE OF WISCONSIN
SS.
WINNEBAGO COUNTY
And:
Pamela R. Ubrig, City Cle
akd-L;r Personally came before me this Jlt day of
9eptent6er, 2017, the above-named Mark A. Rohloff, City
Manager, and Pamela R. Ubrig, City Clerk, of the City of
Oshkosh, a municipal corporation, to me known to be the
persons who executed the foregoing instrument, and to
me known to be such officers of said corporation, and
acknowledged that they executed the foregoing
instrument as such officers as the deed of said
corporation, by its authority.
louil&,"y - OiLD 'e�
Notary Public, Winnebago Co., WI
My Commission expires/is:ja 113 I;ac2p,,L-)
This document drafted by:
Attorney Lynn A. Lorenson, City Attorney
Oshkosh, WI 54902-1130
Page 6 of 7
STATE OF WISCONSIN )
) SS.
WAUKESHA COUNTY )
Personally came before me this 15 et day of
September, 2017, the above-named Calvin
M. Akin, to me known to be the person(s) who
executed the foregoing instrument and to me
known to be such officer of said corporation,
and acknow dged that he executed the
f(;ore p@iment as such officer as the
oration, by its authority.
Notary Public, Waukee nty, WI
My Commission e*---
JOE A.
GOLDBERGER
OF WIS���
DEVELOPER'S AGREEMENT REQUIREMENTS
BEFORE adoption of the Developer's Agreement by the City Council, the following
items must be filed with the Office of the City Clerk:
A signed waiver
A performance bond or letter of credit guaranteeing completion of private
construction within two (2) years.
Letter(s) of credit in the amount of any publicly -constructed improvements or
services which may be drawn upon by the CITY in payment of construction and/or
related costs for the public improvements. Letters of credit shall be for two (2)
years.
Please contact the Department of Public Works with any questions in this regard.
After private construction is complete, a two-year letter of credit, which meets the
approval of the City Attorney, may be filed in an amount equal to twenty percent (20%) of
the total construction cost to guarantee the privately -constructed improvements. Upon the
written acceptance of the work by the CITY and the filing of this two-year letter of credit, the
letter of credit or bond specified above may be released.
Written approval of private construction under a Developer's Agreement will be
issued by the Department of Public Works when the work is completed. Please contact the
Department of Public Works with any questions in this regard.
An invoice will be issued by the Finance Director when notified by the Department of
Public Works that work is completed. Invoices must be paid within thirty (30) days from the
date of invoice. Payments should be made to the Collections Division.
ANY change in the assessments or construction (private or public) that have been
authorized through a Developer's Agreement MUST be amended through Council action.
Please contact the Department of Public Works to initiate any corrections in this regard.
This Agreement requires the DEVELOPER, immediately upon transfer of title to any
of the property included within the Agreement, to fully pay the outstanding assessments
and anticipated future special assessments against the transferred parcel or portion. If you
are transferring the property to another developer and would like to request amendment to
the Developer's Agreement to reflect that transfer, please contact either the City Clerk or
City Attorney's office in this regard.
Phone Numbers:
Department of Public Works City Clerk's Office
(920)236-5065 (920)236-5011
Page 7 of 7
Director of Finance
(920)236-5005
= OLD NATIONAL BANK'
Applicant:
*Vt bark. &i .-
IRREVOCABLE STANDBY LETTER OF CREDIT
Premier Ripple Road, LLC
3120 Gatewood Rd.
Brookfield, WI 53045
Beneficiary: City of Oshkosh
Department of Public Works
215 Church Ave.
Oshkosh, WI 54901
Issuance Date: September 15, 2017
Standby Letter of Credit No. 20007403674
Maximum Amount: $260,375.00 (Two Hundred Sixty Thousand Three
Hundred Seventy -Five and zero/100th US Dollars)
Expiry Date: September 15, 2019
At the request of Applicant, we hereby issue in favor of Beneficiary our Irrevocable Standby Letter
of Credit which is available five (5) Business Days after presentation by Beneficiary of: (i) its fully
completed and signed sight draft in the form of Exhibit A hereto, (ii) the original of this Irrevocable
Standby Letter of Credit for our endorsement of our payment of such draft, and (iii) accompanied by
a fully completed and signed certificate in the form of Exhibit B hereto certifying, among other
items:
That Premier Ripple Road, LLC has defaulted in its contractual obligations for the
improvements of Ripple Avenue Estates as outlined in the developer agreement.
(collectively, the "Required Documents").
You may present to us one or more demands for payment under this Letter of Credit from time to
time prior to the Expiry Date in an aggregate amount not to exceed the Maximum Amount of the
Letter of Credit then in effect (it being understood that the honoring by us of each demand for
payment shall reduce the Maximum Amount of the Letter of Credit then in effect.)
Demand for payment may be made by you under this Letter of Credit prior to the Expiry Date at any
time during our business hours at our Commercial Loan Documentation Department, Letter of
Credit Unit, 1 Main St., Evansville, IN 47708 on a day (herein called a "Business Day") on which we
are open for the purpose of conducting commercial banking business. If demand for payment is
made by you hereunder prior to 12:00 p.m., Evansville, Indiana time, on a Business Day, and
provided that such demand for payment and the Required Documents presented in connection
therewith conform to the terms and conditions hereof, payment shall be made to you of the amount
demanded, in immediately available funds, not later than 4:00 p.m., Evansville, Indiana time, on the
fifth Business Day thereafter, by wire transfer as indicated in your certificate presented to us in
connection with such demand.
0-114 R04-01
SED-MD030501
One Main Street
ONP 0056
Evansville, IN 47708
F: 812.461.9240
comldocprep@oldnational.com
XW-
- 0;�,
OLD NATIONAL BANK'
If demand for payment made by you hereunder does not, in any instance, conform to the terms and
conditions of this Letter of Credit, we shall give you prompt notice that the purported negotiation
was not effected in accordance with the terms and conditions of this Letter of Credit stating the
reasons therefor and that we are holding any documents at your disposal or are returning the same to
you, as we may elect. Upon being notified that the purported negotiation was not effected in
accordance with the Letter of Credit, you may attempt to correct any such nonconforming demand
for payment if and to the extent that you are able to do so and provided that such full performance is
accomplished on or before the Expiry Date.
Multiple and partial drawings may be made under the Letter of Credit, but the aggregate of all
drawings under this Letter of Credit shall in no event exceed the Maximum Amount.
This Letter of Credit sets forth in full the terms of our undertaking, and this undertaking shall not in
any way be modified, amended or amplified by reference to any document, instrument or agreement
referred to herein or in which this Letter of Credit is referred to or to which this Letter of Credit
relates and any such reference shall not be deemed to incorporate herein by reference any document,
instrument or agreement. This Letter of Credit cannot be modified without the consent of us and
you.
This Letter of Credit is not assignable or transferrable without our prior written consent and may be
drawn upon only by the Beneficiary or its permitted assignees or transferees.
This Letter of Credit is subject to International Standby Practices 1998 International Chamber of
Commerce Publication No. 590 ("ISP 98"). This Letter of Credit shall be deemed to be a contract
made under the law of the State of Indiana, and, as to those matters not governed by ISP 98, shall be
governed by and construed in accordance with the law of the State of Indiana, without regard to
principles of conflicts of law.
Very Truly Yours,
OLD NAANAL B
By: I -JU` " `�
Cari McCandless
Commercial Loan Documentation Manager, AVP
0-114 R04-01
SED-MD030501
One Main Street
ONP 005B
Evansville, IN 47708
F: 812.461.9240
comldocprep@oldnational.com
OLD NATIONAL BANK'
Ioun bark.�c qe. l
EXHIBIT A
SIGHT DRAFT
FOR VALUE RECEIVED
Pay at Sight to: (Beneficiary)
U.S.
Date:
Letter of Credit No.: 20007403674
Dollars (U.S. $�.
Charge to account of Premier Ripple Road, LLC (Applicant)
Drawn under Old National Bank
Irrevocable Standby Letter of Credit No. 20007403674
Dated September 15, 2017 (the "Letter of Credit'
TO: Old National Bank
Commercial Loan Documentation Department
Letter of Credit Section
1 Main St.
Evansville, IN 47708
The sum drawn does not exceed the amount available to be drawn thereunder as provided in
such Letter of Credit.
Terms defined in the Letter of Credit have the same meaning as the terms when used herein.
City of Oshkosh. Det)artment of Public Works
(Beneficiary)
By:
Printed:
Title:
0-114 R04-01
SED-MD030501
One Main Street
ONP 005B
Evansville, IN 47708
F: 812.461.9240
comldocprep@oldnational.com
OLD NATIONAL BANK'
EXHIBIT B
20
TO: Old National Bank
Commercial Loan Documentation Department
Letter of Credit Section
1 Main St.
Evansville, IN 47708
Re: Irrevocable Standby Letter of Credit No. 20007403674
Ladies and Gentlemen:
The undersigned is the beneficiary (the `Beneficiary") of the Irrevocable Standby Letter of
Credit No. 20007403674 dated September 15, 2017 (the "Letter of Credit") issued by you for the
account of Premier Ripple Road, LLC (the "Applicant").
The undersigned hereby certifies as follows:
1. That Premier Ripple Road, LLC has defaulted in its contractual obligations for the
improvements of Ripple Avenue Estates as outlined in the developer agreement.
2. The amount demanded hereunder, when aggregated with amounts previously paid to us
under the Letter of Credit, does not exceed the Maximum Amount.
3. The undersigned is an authorized representative of the Beneficiary.
Please wire transfer the amounts paid hereunder to the undersigned as follows:
Terms defined in the Letter of Credit have the same meanings when used herein.
IN WITNESS WHEREOF, the undersigned has caused this Certificate to be executed by its
duly authorized officer this day of , 20
Sincerely,
City of Oshkosh, Department of Public Works
(Beneficiary)
Is
Printed:
Title:
0-114 R04-01
SED-MD030501
One Main Street
ONP 0056
Evansville, IN 47708
F: 812.461.9240
comldocprep@oldnational.com
WAIVER OF SPECIAL ASSESSMENT NOTICES AND
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 inspection of sanitary sewer and lateral, water main and laterals, grading, asphalt
pavement and restoration.
For private construction and construction staking survey and public inspection of sanitary sewer
and lateral, water main and laterals, grading, asphalt pavement and restoration.
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
Ripple Avenue Estates
CSM
Lots 1-3
Construction of Utilities and Access for Ripple Avenue Estates
Sanitary Sewer & Laterals (Private Construction)
Estimated Construction Cost
3% Inspection
2. Water Main with Laterals (Private Construction)
Estimated Construction Cost
3% Inspection
Grading and Restoration (Private Construction)
Estimated Construction Cost
3% Inspection
$28150.00 Private
$844.50 Payment
$131,850.00 Private
$3,955.50 Payment
$23,500.00 Private
$705.00 Payment
4. Grade, Gravel and Asphalt Paving (Private) — Paving completed by July 31, 2018.
Acceleration/Deceleration Lane and Passing Lane on Oregon St = $67075.00
Emergency Access off Ripple Ave = $7,800.00
BEngineeting\Waiver of Special AssessmentTipple Ave Estates waivet.doc
Ripple Ave Estates
Page 2 of 2
Estimated Construction Cost $74,875.00 Private
3% Inspection $2,246.25 Payment
5. Final Plat Monuments (Private)
Estimated Construction Cost $2,000.00 Private
Summary of Cost Calculations
Dev Agree Waiver Section
Private Cost
Inspection (Public)
1
$28,150.00
$844.50
2
$131,850.00
$3,955.50
3
$23,500.00
$705.00
4
$74,875.00
$2,246.25
5
$2,000.00
$0.00
Totals
$260,375.00
$7,751.25
2 — Year Irrevocable Letter of Credit or Bond for Private Construction = $260,375.00
Cash Payment for Public Engineering, Inspection and Construction = $7,751.25
2 — Year Irrevocable Letter of Credit after Acceptance of Private Construction = $52,075.00
Signature of Owner:
Signature of Authorized Representative
1:\Engineering\Waiver of Special Assessment\Ripple Ave Estates waiver.doc
Date
City •
ribe
of
Oshkosh
July 26, 2021
Calvin M.Akin
Premier Ripple Road,LLC
3120 Gateway Road
Brookfield,WI 53045
RE: Acceptance of Public Improvement in Right-of Way
Ripple Avenue Estates
Dear Mr.Akin:
The purpose of this letter is to advise you that the privately-constructed improvements
• identified in the Developer's Agreement adopted by City of Oshkosh Common Council on
October 10, 2017 between the City of Oshkosh and Premier Ripple Road, LLC have been
completed and accepted by the City of Oshkosh. Per the Developer's Agreement, the
completion date of these improvements is July 31, 2018; although minor punch list items and
associated right-of-way adjustments were completed after that date.
The privately-constructed improvements are described as such in Article 3 within the
Developer's Agreement. The City understands this written acceptance of the identified
improvements will affect the letter of credit required by the Developer's Agreement, as
described in Article 10 of the Developer's Agreement.
This notification is being provided solely for the limited purpose identified. All terms and
obligations of the Developer's Agreement remain in place.
If you have any questions,please contact us.
Sincerely,
M tt'141is4r
hew Nett
Civil Engineer
MN/tlt
cc: Justin Gierach, Engineering Division Manager/City Engineer
Kelly Nieforth,Interim Director of Community Development
1:1Engineering12017 CONTRACTS\17-33 Ripple Ave Page 1 of 1
Estates\Project_lnformation\Correspondence\Letters\17-33 Akin Ur-Accept Public lmpr_7-26-21.docx
City Hall,215 Church Avenue P.O.Box 1 130 Oshkosh,WI 54903-1130 http://www.ci.oshkosh.wi.us