HomeMy WebLinkAboutPerformance Agreement - Jackson Creek Estates AGREEMENT FOR CASH SECURITY FOR PERFORMANCE
UNDER SUBDIVISION AGREEMENT
This agreement made and entered into this lY day of
January , 1992 , by and between the City of Central Point , Oregon ,
an Oregon municipal corporation , hereinafter referred to as
"City" , and Tom Malot. Construction Co . , Inc . , and Noel Moore , dba
W . L . Moore Construction Co . , hereinafter referred to as
"Subdivider" .
Recitals
1 . Subdivider has previously been granted tentative plat
approval by City for Subdivider ' s project known as Jackson Creek
Estates Subdivision, Unit No . 3 , Phase II , which approval is
subject to certain conditions .
2 . Subdivider has applied to City for final plat approval
of said subdivision project , but prior to final approval , Central
Point Municipal Code Chapter 16 . 12 requires , among other things ,
execution of an improvements agreement , and security for
performance thereunder by one of three methods . This Agreement
is intended to constitute the required security for performance .
NOW , THEREFORE , in consideration of the foregoing and the
covenants herein exchanged, it is agreed as follows :
Agreement
1 . The parties agree that the sum sufficient to complete
construction of the obligations of Subdivider under the
"Subdivision Improvements Agreement" executed by the parties is
the sum of $4 ,020 , which sum is sufficient to cover the cost of
the required improvements and repairs , including related
engineering and incidental expenses , administrative expenses ,
inflationary costs , and the cost of inspections .
2 . City hereby acknowledges receipt from Subdivider of the
sum of $4 , 020 to secure Subdivider ' s performance under the
parties ' Subdivision Improvements Agreement .
3 . City agrees that the cash deposit shall be fully
refunded to Subdivider upon completion of all obligations set
forth in the Subdivision Improvements Agreement , and upon final
acceptance of the same by City .
4 . Subdivider agrees and acknowledges that in the event
that all obligations contained in the Subdivision Improvements
Agreement are not completed within the time allotted for the
1 - AGREEMENT FOR CASH SECURITY FOR PERFORMANCE
UNDER SUBDIVISION AGREEMENT ( 1/10/92 )
same , City shall have the unlimited right , in its own discretion,
to utilize the cash deposit for the completion thereof . Such
completion may be by City , or by any person or firm with whom
City shall contract for such completion, on such terms and for
such amounts as City shall determine . Following completion of
said obligations , City shall have the further right to deduct
from said cash deposit all sums and costs incurred by City in the
completion , including construction , repair , engineering,
incidental , administrative , inflationary and inspection costs ,
whereupon any remaining balances shall be refunded, without
interest , to Subdivider .
City of Central Point , Oregon Subdivider
Tom Malot Construction Co . , Inc .
By .adz � .�2d-Adm By AC.\
Mayc Roger Westensee Tom Malot , President
W . L . Moore Construction Co .
C2.J141 ,ALZ:2_
By Y._ �'
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Authorize,,tReprese tive Noel Moore , President
STATE OF OREGON )
) ss .
County of Jackson )
On the ' 7 day of January , 1992 , before me personally
aljeared 7e--5c- r liJEs'reh.%_'c=F and
_Dfttib-'I Rr_ h � L
r�yr[_ _ , who , being first duly sworn , each
for himself and Aot for the other , did say that the former is
MA,-,10/c. and the latter is the
P[z5_2'_AJ 77-4-Ti L_%�_ of the City of Central Point , an
Oregon municipal corporation , and that the foregoing instrument
was signed on behalf of said municipal corporation by authority
of its City Council , and each of them acknowledged the foregoing
instrument to be his or her voluntary act and deed . c
,....79r
Notary Public for Oregon J
My Commission Expires : /6/7
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2 - AGREEMENT FOR CASH SECURITY FOR PERFORMIP(°r'� 6
UNDER SUBDIVISION AGREEMENT ( 1/ 10/92 )
STATE OF OREGON )
) ss .
County of Jackson )
On the /7 day of January , 1992 , before me personally
appeared Tom Malot who being first duly sworn , acknowledged the
foregoing instrument to be his voluntary act and deed .
OFFICIAL SEAL
7:1p
SANDY J. 0LRRYHILL •'�J�1 Z:th_t_J ,--NO1ARY PUBLIC - OREGON Notary Pu i for Oregord-
O"Mt5 tON NO. 009395
[ MYCOMMONEXPESNOV.8,1995 , My Commis ion Expires : //- R Qom_
STATE OF OREGON )
ss .
County of JacksonOk
)
On the /�/ day of January , 1992 , before me personally
appeared Noel Moore who being first duly sworn , acknowledged the
foregoing instrument to be his voluntary act and deed .
. jr�' ( 1 _ 1�LcJ
OFFICIAL
J. f?ERRYHiLI. / r.SEAL
SANDY Notary Publfoff Oregon
NOTARY PUBLIC - OP.EGON My Commissi n Expires : //-
`r :OMMiSSION NO. 009395
MYCOMMISSION EXPJRE S NOV.8,1995
3 - AGREEMENT FOR CASH SECURITY FOR PERFORMANCE
UNDER SUBDIVISION AGREEMENT ( 1/10/92 )