Loading...
HomeMy WebLinkAboutContract - LPI Investors, LLC .. . f n AGREEMENT This Agreement is entered into on th~ 27 tf.1 day of tvt4~ , 2006, by and between the City of Jeffersonville, Indiana, Municipal Sewer Utility, by and on behalf of the Jeffersonville Sanitary Board (collectively hereinafter, the "City"), and LPI Investors, LLC, an Indiana limited liability company (the "Developer"). RECITALS: Whereas, the City will construct, to the extent it deems necessary, an improved Happy Valley Lift Station near Utica, Indiana, and new sanitary sewer force main in and around the Town of Utica, Indiana (the "Project"), in order to better serve the City's sanitary sewer service area that includes Quarry Bluff Subdivision ("Quarry Bluff') being constructed by Developer in the Town of Utica, Indiana, that is being developed by the Developer; and, Whereas, the City has previously permitted up to fifty-nine (59) residential units in Quarry Bluff to connect to the City's sanitary sewer system; however, when fully developed in all of its phases, Quarry Bluff is intended to consist of approximately three hundred fourteen (314) total residential units, and Developer has petitioned to City to allow the two hundred fifty- five (255) additional connections to the Jeffersonville sanitary sewer system to enable full r, construction of Quarry Bluff; and, Whereas, the Developer agrees that the Project is of great benefit to the Developer in that expanded sewage collection and disposal facilities will be made available to Quarry Bluff at a substantial cost savings to the Developer; and, Whereas, the Developer agrees that if the City constructs the Project, it is the responsibility of the Developer to extend the collector sewers that will provide sewer service to Quarry Bluff for all connections in excess of the fifty-nine (59) residential units that have previously been approved and permitted by the City. Now, therefore, in consideration of the mutual promises contained herein, the City agrees that the Developer will be authorized to connect additional residential development units in Quarry Bluff to the City's sanitary sewer system upon the submission and processing of construction permits to be issued by the City and the expansion of the City's treatment plant capacity, and Developer agrees to partially reimburse the City for the cost of the Project in accordance with the following terms and conditions: I. Developer's Duties. A. The total estimated construCtion cost of the Project based on the revised engineering estimate prepared by Jacobi, Toombs and Lanz, Inc., dated November 29, 2005, is $425,000.00. o ~-- ~ f"'. B. The Developer shall partially reimburse the City the cost of installing Project in the aggregate maximum amount of $175,350.00, which amount shall is based on the maximum of 314 additional connections to be constructed in Quarry Bluff. Payment of such amount shall be made in accordance with Section I.C and Section n.c below. C. Except as provided in Section II.C below, the Developer shall make lump sum payments to the City in the amount of Six Hundred Eighty-eight and Noll 00 Dollars ($688.00) per lot for each connection within Quarry Bluff commencing with the sixtieth (60th) connection, up to and including, the three hundred fourteenth (314th) connection, which payment shall be made at the time of purchasing the sanitary sewer tap-in permit for each such lot, and which fee shall be in addition to the tap-in fee then in effect. II. City's Duties. A. The City must bear all construction costs of the Project, subject only to the Developer's reimbursement obligations under Section I above. {' B. The City will own the Project (including all sewage collection lines, interceptor, pump station and force main), and will operate, maintain and replace the facilities within the Project when necessary. C. Promptly after approval and execution of this Agreement, the City shall take the steps necessary to issue the Developer an approval to permit the connection of up to sixty (60) patio homes in Quarry Bluff (i.e., additional connections No. 60-120) to the City sanitary sewer system. Developer shall be required to submit the documentation and plans reasonably required to comply with the City's rules and regulations regarding the issuance of such permits. Notwithstanding any other provisions of this Agreement, the additional reimbursement fee for such homes in the aggregate amount of up to $41,280.00 shall be payable in the amount of Ten Thousand and No/IOO Dollars ($10,000.00) upon the issuance of such permit, with the entire remaining balance being due and payable upon the earlier of (1) the date on which Developer, or its assignee, actually commences construction of such patio home development within Quarry Bluff, or (2) six (6) months after the issuance of such permit. III. Miscellaneous. A. The laws of the State of Indiana shall govern this Agreement. This Agreement and all of the terms and provisions hereof shall survive the completion of construction of the Project and the Developer's construction of the Quarry Bluff. (I B. The provisions of the Recitals of this Agreement are substantive and shall be included in any interpretation of the Agreement. ',,~- ~ 2 \>.. ~ . ' r C. The parties hereto represent that: (1) Developer owns the property; (2) the parties are authorized to enter into this Agreement; (3) the execution ofthis Agreement is not prohibited by the organizational documents or Indiana statutes governing any party to this Agreement; (4) this Agreement is a valid and binding contract between the parties hereto, enforceable according to its terms; and, (5) the execution of this Agreement does not conflict with or violate the terms of any Agreement to which any party hereto is subject. D. The City hereby represents and warrants to Developer that it has the authority to enter into this Agreement, and that this Agreement is a binding obligation of the City enforceable by its terms. E. Nothing herein contained sl1all be deemed or construed as creating the relationship of principal and agent, partnership, or joint venture between the parties hereto. F. If any party to this Agreement defaults, the other party shall be entitled to recover all attorneys' fees, costs and expenses reasonably incurred to enforce this Agreement. G. Any notice or other communi\:;ation required or permitted to be given under this Agreement shall be in writing and shall be mailed by certified mail, return receipt requested, postage prepaid, addressed to the parties at the following addresses: If to the City: City of Jeffersonville, Indiana 501 E. Court Avenue 4th Floor, City-County Building Jeffersonville, Indiana 47130 Attn: Leslie D. Merkley, City Attorney If to the Developer: LPI Investors, LLC 6200 E. Highway 62, Suite 100 Jeffersonville, Indiana 47130 Attn: Roger Denny With a copy to: C. Gregory Fifer APPLEGATE & FIFER P.O. Box 1418 Jeffersonville, Indiana 47131-1418 All notices and other communications will be deemed received three (3) days after the date of mailing. A party's address for service of notices may be changed from time to time by giving written notice of the party's new address to the other parties. , H. This Agreement shall be valid and binding upon the parties hereto and their respective successors and assigns. 3 .)0. ..oe .....~ :'t- ~ , ~" ~, IN WITNESS WHEREOF, the parties have executed this Agreement as of the date set forth above. For the "Developer": LPI INVESTORS, LLC By its sole Class A Member: H & H, LLC For the "City": CITY OF JEFFERSONVILLE, INDIANA, MUNICIPAL SEWER UTILITY, by and on behalf of the JEFFERSONVILLE SANITARY BOARD / ~~ l / {I/ (t) "/f 4