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CCR1996194RESOLUTION #194-96 APPROVAL OF DEVELOPMENT AGREEMENT BETWEEN THE CITY OF MUSKEG0 AND VICTORIAN VILLAS BE IT RESOLVED that the Common Council of the City of Muskego, upon the recommendation of the Finance Committee, does hereby approve the attached Developer's Agreement, as amended, between the City of Muskego and Victorian Villas subject to approval of the City Attorney. BE IT FURTHER RESOLVED that the Mayor and Clerk-Treasurer are authorized to execute the documents on behalf of the City. DATED THIS 21th DAY OF AUGUST , 1996. SPONSORED BY: FINANCE COMMITTEE Ald. Domonic D'Acquisto Ald. David J. Sanders Ald. Mark Suhr This is to certify that this is a true and accurate copy of City of Muskego. Resolution #194-96 which was adopted by the Common Council of the ~ 8/96 jrnb DEVELOPER'S AGREEMENT 0 This Agreement, made this by and between Birdsall/Horning And Assoc., Inc. for Victorian Villas the "Developer" and the City of Muskego, a municipal corporation of the State of Wisconsin, located in Waukesha County, hereinafter called the "City". day of August, 1996 WITNESSETH proposed amendment to the Durham Meadows Planned Development known as Victorian Villas, a boundary description of which is attached hereto as Exhibit A, the original of which will be recorded with the Register of Deeds for Waukesha County and a copy of which is on file and Operational Plan was approved by the City Plan Commission on in the Office of the City Clerk, for which a Final Building, Site WHEREAS, the Developer has submitted for approval by the City a WHEREAS, Wisconsin Statutes and the City of Muskego Zoning Ordinance provides that as a condition of approval, the governing body of the City may require that the Developer make and install certain public and private improvements reasonably necessary for the improvements to be conditioned upon the construction of said improvements according to municipal specifications without cost to said municipality; and development and further, may require dedication of certain Committee, Public Utility Committee and Finance Committee have duly approved, contingent of certain other approvals, Developer's plans Commission and Common Council have duly approved the final and specifications for development improvements, and the City's Plan development plan contingent upon the execution and performance of this agreement by the Developer. WHEREAS, the City's Engineers, the City's Public Works NOW, THEREFORE, in consideration of the covenants herein contained, the parties hereto agree as follows: SECTION I. IMPROVEMENTS: Developer, entirely at its expense, shall: A. DRIVEWAY AND BIKE PATH RIGHT-OF-WAY 1. Developer shall construct, install, furhish and vide as approved by the City engineer and Public Works committee appopriate driveway access and bike path in accordance with plans and specifications attached hereto, and made a part hereof and marked Exhibit B. B. STORM AND SURFACE WATER DRAINAGE AND MASTER GRADING PLAN: 1. 2. 3. 4. Developer shall construct, install, furnish and provide facilities as approved by the City Engineer and Public Works Committee for storm and surface water drainage throughout the entire Development all in accordance with the plans and specifications attached hereto, made a part hereof and marked Exhibit "C". The City retains the right to require the Developer to install additional storm drainage and erosion control measures prior to final approval Muskego. and/or acceptance of improvements by the City of The CITY shall furnish to the Developer such permits or easements as may be required in any public street described surface water drainage system therein. or property to enter upon and install the above with the Master Grading Plan attached hereto and made Grade and improve all disturbed areas in conformance a part hereof and marked Exhibit "C". Restore with topsoil and seed. Establish dense vegetation. All grades must be verified by Developer's Engineer after completion with the following tolerances: All lot corners must be from exact to plus or minus two (2) inches. Overall lot grades must be from exact to minus six (6) inches. House pads from exact to minus twelve (12) inches. All swales and ditches must be graded to exactly minus three (3) inches to allow for standard finish. (See Section XI1,F.) At Developer's expense, and prior to acceptance of improvements and the issuance of building permits by the City, all storm sewers shall be cleaned (See Section XI1.D). 1. Developer shall construct, install, furnish, and provide a complete system of water supply and distribution, throughout the entire Development, as approved and in accordance with the plans and specifications attached hereto as Exhibit "D" and in compliance with all State, County and local regulations. 2. The CITY shall furnish the Developer such permits or easement as may be required in any public street or public property to enter upon and install the above described water system therein. 3. Any water used from hydrants shall be metered and a permit taken out through the CITY OF MUSKEGO. D. SANITARY SEWER: 1. Developer shall construct, install, furnish, and provide a complete sanitary sewage collection system throughout the entire Development, as approved by the City Engineer and the Public Utilities Committee all in accordance with the plans, specifications and drawings attached hereto as Exhibit "E". The cost of the preparation of asbuilt plans shall be paid by the Developer. 2. The CITY shall furnish the Developer such permits or easements as may be required by any public street or public property to enter upon and install the above described sewage system therein. 3. Developer shall complete, to the satisfaction of the City Engineers, any remaining punch list items concerning the Sanitary Sewer System prior to the connection of any residence to the sanitary sewer systems. 4. The Developer shall televise the sanitary sewer Engineer, and supply video tape to City of Muskego, and system, repair any defects as determined by the City clean all sewer lines prior to the issuance of building permits, except for model homes, and acceptance of improvements by the City (See Section X1I.E). E. LAHDSCAPING: 1. Developer shall preserve existing trees outside of the public right-of-way whenever practical, when installing the Development improvements. 2. Developer shall remove and lawfully dispose of: (a) all old barns, outbuildings; (b) destroyed trees, brush, tree trunks, shrubs and other natural growth; completed prior to 2nd building occupancy permit being (c) and all rubbish. All demolition must be issued or 18 months whichever comes first. 3. Developer shall plant street trees in accordance with the approved landscape plan. F. EROSION CONTROL MEASURES: 1. Developer shall construct, install, furnish and provide a complete system of Erosion Control Devices or measures in specified areas of the Development, as approved by the City Engineer and the Building Inspection Department attached hereto as Exhibit "F"and in accordance with the plans and specifications with Chapter 29 of the City's Municipal Code. 2. Install silt fencing in conformance with the approved plans prior to the grading and construction work. Such fences shall be maintained by the Developer until such time as turf cover is established in the Development. No grading shall occur without a two (2) day notice to the City. 3. Mulching and seeding of all disturbed areas to comply with Chapter 29. 4. Developer is responsible for obtaining Erosion Control Permits for the site for controlling erosion on the site and each individual building site at the time any vegetation is disturbed and are responsible for controlling erosion on site. 5. Thousand Dollars ( .OO) from the Letter of Credit (under Section XIVI, shall be retained until adequate vegetation is established as determined by the Building Inspection Department. A reduction of fifty percent (50%) of the Thousand Dollars ($ .OO) portion of the Letter of Credit is allowable upon verification of fifty percent (50%) of disturbed areas are vegetated. If, upon a written notification by the Building Inspection Department of non-compliance of Chapter 29, the terms are not corrected within five (5) days, the City may utilize the Thousand Dollars correct the terms of non-conformance. From time to Developer's Deposit to cover the cost of maintenance time, additional funds may be required in the as deemed appropriate by the Department. ($ .OO) portion of the Letter of Credit to SECTION 11. TIME OF COMPLETION OF IMPROVEMENTS: The improvements set forth in Section I above shall be completed by the Develop in total within one (1) year from signing of this Agreement or except if an earlier date is provided for in the Agreement. The final surface course pavement shall be deferred until ninety percent (90%) of the buildings have been completed or 36 months after the installation of the first lift of asphalt, 0 whichever comes first. 0 twelve (12) months of the date of this agreement, the Developer If the final surface course of pavement is not completed within shall extend the Letter of Credit in a form acceptable to the City until such time as the final surface course of pavement is completed. If the City receives notice of the intention to terminate the Letter of Credit prior to completion of the final surface course pavement, such notice shall be considered a failure to complete improvements in accordance with this agreement and shall entitle the City to immediately draw against the Letter of Credit. SECTION 111. DEDICATION: Subject to all of the other provisions of this agreement, Developer shall, without charge to the City, upon completeion of the above described improvements, unconditionally give, grant, convey and fully dedicate to the extend of the Developer's intrest, the driveway facilities and bike path as illustrated on Exhibit "A" to the City, it successors and assigns, forever, free and clear of all encumberances whatever together with and including, without limitation because of enumeration, any and all lands, structures, conduits, pipes and hereditaments which may in any way be a part of or pertain to such improvements and together with any and all to dedication of said improvements after the final lift of necessary easements for access thereto. The City will be receptive utilities have been completed and approved by the City Engineers and bituminous concrete pavement has been installed, when all said other agencies as applicable. SECTION IV. INSPECTIONS AND ADMINISTRATIONS FEES: signing of the Agreement, at times specified herein, but in any event, no later than thirty (30) days after billing, all fees, expenses and disbursements which shall be incurred by the CITY prior to and following the date hereof in connection with or relative to the construction, installation, dedication and acceptance of the improvements covered by Section I, including without limitation by reason of enumeration, design, engineering, preparing, checking and review of designs, plans and specifications; supervision, inspection plans, specifications, regulations and ordinances; legal, to insure that construction is in compliance with the applicable administrative and fiscal work undertaken to assure and implement such compliance. Failure to pay or reimburse the City in a timely manner may cause the City to cease all construction inspections until such time as all anticipated or outstanding inspection and administration fees have been satisfied. SECTION V. MISCELLANEOUS REQUIREMENTS: Developer shall pay and reimburse the City in advance of the The Developer shall: A. Easements: Provide any easements on Subdivider's land deemed necessary by the City Engineers prior to the Developer's Agreement being signed, provided such easements are along lot lines or to the rear of the lots and are not any more restrictive to the building of homes beyond the applicable sideyard and offset distances required by the zoning for such lots. B. Street Siqns: Reimburse the CITY for the cost of all street signs, traffic signs and posts, including the cost of their installation. C. Manner of Performance: Cause all construction called for bv this Aareement to be carried out and performed in a good and workmanlike manner. D. Survey Monuments: Properly place and install any lot, block or other monuments required by State Statute or City Ordinance. E. Grades: Furnish to the Building Inspector and the CITY a copy of Exhibit "C" showing the street grade in front of each lot, the finished yard grade, the grade of all four adjoining lots, where applicable, as existing and as (4) corners of the lot and grades of the buildings on proposed. F. Siqht Distances: Restricts the property so that no above the center of the intersection shall be permitted in structure of any kind which exceeds a height of 2 1/2 feet the vision setback area in conformance with Section 17:5.02(2) of the Zoning Ordinance. G. Sump Pump Connections: The Developer shall furnish to the Plumbino InsDector of the CITY a copy of storm drains and clean out lobations in the form attached hereto and made part hereof and marked Exhibit "H" showing the locations of connections whereby sump pump drains can be connected from each dwelling to the storm sewer system. The ends of each line shall have a clean out in conformance with the City Standard Details. ~~~~ ~ ~ ~~~ ~2 H. Street Liqhts: Install street lights in accordance with Section 18.0911 of the City's Land Division Ordinance. I. Permits: Submit to the CITY valid copies of all agency permits including the Wisconsin D.N.R. and U.S. Army Corps of Engineers before construction commences and prior to any preconstruction meeting. J. Sewer Extension Permits: (a) The City of Muskego has, pursuant to the provision of Chapter 21 of the City Code, granted the Deveioper EIGHTEEN - Equivalent Connections (REC's) as defined in Section 21.04 ( 18) Residential (22) of the City's Sewer Utility Ordinance, for the development of all lands contemplated by the Developer in all phases of this development including future phases. Developer is using TWELVE ( 12) of the above-noted REC's in the phase of development which is the subject of this Developer's Agreement and shall secure the installation of said sewer extensions as provided elsewhere in this agreement and as required by the City Code. There will then remain SIX ( 6) REC's of capacity for future phases of the development. (b) The remaining s IX ( 6) REC's of capacity shall automatically terminate and the allocation of said capacity shall cease to the extent that said sewer by the City to make said certification, to be completely extension is not certified, by a representative appointed constructed and approved within four (4) years of the execution of the present Subdivider's Agreement. (c) The Developer may, within the four year period referred to above, request that the City enter into an additional Developer's Agreement for the next phase of the within the four years as noted above may be extended development. Any remaining REC's which have not been used pursuant to the terms of said Developer's Agreement provided, however, that the installation of sewer extensions must be secured as provided in this agreement or when not prohibited'by other ordinances or resolutions of the City, upon other security deemed appropriate by the City and under terms and conditions satisfactory to the City and in accord with the City's ordinances, resolutions date of execution of that subsequent Developer's Agreement. and policies herein shall expire within four years of the (d) The Developer may request additional Developer's Agreement(s) be entered into for subsequent phases. Any such agreement shall be subject to the same terms and conditions as stated in subsections (a), (b) and (c) above. (e) Notwithstanding any of the above provisions, all unused sewer capacity granted to the Developer as referenced in this agreement shall automatically terminate and the allocation of said capacity shall cease on the 21st day of December, 2002. SECTION VI. GUARANTEES: The Developer shall guarantee the public roads and streets, sanitary sewers, watermains, surface water drainage improvements and all other improvements described in Section I, Items A, B, C, & D, hereof, against defects due to faulty materials or workmanship provided that such defects appear within a period of one (1) year from the date of dedication and acceptance. The Developer shall pay materials or workmanship. This guarantee shall not be a bar to any for any damages to CITY property resulting from such faulty 0 Wisconsin law on negligence shall govern such situation. action the CITY might have for negligent workmanship or materials. SECTION VII. GENERAL INDEMNITY: In addition to, and not to the exclusion or prejudice of, any provisions of this agreement or documents incorporated herein by reference, Developer shall indemnify and save harmless, and agrees to accept tender of defense and to defend and pay any and all expenses relating to the defense of any claim asserted or imposed reasonable legal, accounting, consulting, engineering and other upon the CITY, its officers, agents, and employees, and independent contractors growing out of this agreement as stated above by any party or parties. The Developer shall also name as additional agents, and employees, and any independent contractors hired by the insured on its general liability insurance the CITY, its officers, CITY to perform service as to this Development and give the CITY evidence of the same upon request by the CITY. SECTION VIII. AGREEMENT FOR BENEFIT OF PURCHASERS: The Developer shall agree that in addition to the CITY's rights herein, the provisions of this Agreement shall be for the benefit of the purchaser of any lot or any interest in any property or building in the Development. Further, that the sale of any lot or parcel shall not release the Developer from completing the work on the attached Exhibits. SECTION IX. ACCEPTANCE OF WORK AM) DEDICATION: herein required, and shall dedicate the same to the CITY as set forth herein, the same shall be accepted by the CITY if said as required by applicable CITY ordinances and other applicable law improvements have been completed as required by this Agreement and and approved by the City Engineer, City Finance Committee and Common Council. As and when the Developer shall have completed the improvements SECTION X. EROSION CONTROL PLAN AND PERMIT: The Developer shall submit to the CITY, an application for a with the requirements of Section 29.06 of the CITY's Erosion Land Disturbing Permit and an Erosion Control Plan in accordance Control Ordinance (Ord. #560). No construction or grading can begin until said permit is received from the CITY. SECTION XI. CONSTRUCTION PERMITS, ETC...: 1. The CITY shall, within its authority, issue such permits, adopt such resolutions, and execute such documents as may be necessary to permit the Developer to construct the improvements in accordance with the plans and specifications called for by this agreement, upon Developer's compliance with any deposit provisions or other requirements of the applicable ordinances or regulations; and the CITY shall cooperate with the Developer in obtaining similar permits, resolutions and documents as may be necessary from other authorities having jurisdiction in the premises. 2. The CITY shall, as a condition of the Developer executing this Agreement, make available to the Developer or their construction of single family residences subject to the nominee successors or assigns, building permits for the provision of Section XII. 2 n,/P SECTION XII. BUILDING AND OCCUPANCY PERMITS: shall be issued for any have determined that: understood and agreed that no A. The sanitarysewer and surface water \ drainage facl\lities required to serve such prior to issuance building permits, and operational prior to issuance of connected with\? operational system as required 6 p.. Water system to buildings are connected 3 c* occupancy The Building Inspector verifies that the installation of gravel drive base has been installed to each building pad. \\ CD. Video tape of sanitary sewer system completed if applicable prior to occupancy (See Section All lot grades shall conform to the Negative balance in Developer's to building permits or occupancy 6 E. prior to occupancy (See Section I.A.3). authorized by the Planning Director. SECTION XIII. GENERAL CONDITIONS AND REGULATIONS: All the provisions of the CITY'S ordinances are incorporated herein by reference, and all such provisions shall bind the parties hereto and be a part of this Agreement as fully as if set forth at length herein. This Agreement and all work and improvements required hereunder shall be performed and carried out in strict accordance with and subject to the provisions of said ordinances. SECTION XIV. FINANCIAL GUARANTEES: A. LETTER OF CREDIT: 2. The CITY shall, as a condition of the Developer executing this Agreement, make available to the Developer or their nominee successors or assigns, building permits for the provision of Section XII. construction of multi family residences subject to the SECTION XII. BUILDING AND OCCUPANCY PERMITS: or occupancy permits shall be issued for any building or unit until the City's Engineers have determined that: It is expressly understood and agreed that no building permits A. B. C. D. E. E. F. No building permits shall be issued prior to the surface water drainage facilities required to serve such buildings are connected with an operational system as required herein prior, and No Occupancy permits shall be issued prior to the sanitary sewer being connected with an operational system as required herein. Water system to serve such buildings are connected with an operational system as required prior to issuance of occupancy permits, and No building permits shall be issued prior to the Building base has been installed to each building pad. Inspector verifing that the installation of gravel drive No occupancy permits shall be issued prior to the video taping of the sanitary sewer system being completed if applicable prior to occupancy (See Section I.D.4) All lot grades shall conform to the Master Grading Plan prior to occupancy prior to the occupancy of the second building (See Section I.A.3). Negative balance in Developer's Deposit is satisfied prior to building permits or occupancy permits unless otherwise authorized by the Planning Director. SECTION XIII. GENERAL CONDITIONS AND REGULATIONS: All the provisions of the CITY'S ordinances are incorporated herein by reference, and all such provisions shall bind the parties hereto and be a part of this Agreement as fully as if set forth at required hereunder shall be performed and carried out in strict length herein. This Agreement and all work and improvements accordance with and subject to the provisions of said ordinances. SECTION XIV. FINANCIAL GUARANTEES: A. LETTER OF CREDIT: Prior to the execution of this agreement by the CITY, the Developer shall file with the CITY a Letter of Credit setting forth terms and conditions approved by the CITY Attorney in the amount of .$ the required plans, improvements, and approvals will be completed by the Developer and his subcontractors no later another date is provided within this Agreement and as a than one (1) year from signing of the Agreement, except if subcontractors for work on the Development are satisfied further guarantee that all obligations to the (See Section XIV. D. regarding Developer's Deposit). as a guarantee that B. INVOICES : Invoices documenting public improvements addressed and not addressed in the Letter of Credit, but attributable to the subject development shall be provided to the CITY at the time of the signing of this Developer's Agreement. C. RELEASE OF FUNDS FROM LETTER OF CREDIT: The Subdivider shall provide CITY with a written request to Amendment to Letter of Credit form, invoices for work the Finance Committee accompanied by: Request for completed for which a release is being requested, breakdown of invoices in format of Public Improvement Cost Breakdown form, lien waivers for all work which is subject of release request (See Section X1V.D.). D. DEVELOPER'S DEPOSIT: The Developer shall maintain a positive balance in the Developer's Deposit. No release from the Letter of Credit shall be entertained until the Developer's Deposit is satisfied unless otherwise authorized by the Common Council Section X1V.C.). following a recommendation of the Finance Committee (See SECTION XV. PARTIES BOUND: 1. Developer or his assignees shall be bound by the terms of phase of the development. this agreement or any part herein as it applies to any 2. Approval by the City shall not be deemed a waiver as the ultimate responsibility for the proper design and installation of streets improvements, drive and parking areas, water facilities, drainage facilities, ditches, landscaping and all other improvements shall be the Developers. The fact that the City or it's engineers, or it's attorney, or it's staff may approve a specific project shall not constitute a waiver, or relieve the Developer and function of the Development and related infrastructure. from ultimate responsibility for the design, performance, SECTION XVI. ASSIGNMENT: ,e Developer shall not assign this Agreement without the written consent of the CITY. SECTION XVI I, AMENDMEWl'S : agreement, by written agreement between the CITY and the Developer. The CITY and the Developer, by mutual consent, may amend this to be signed by their appropriate officers and their seals to be hereunto affixed in duplicate original counterparts on the date and year first written above. Developer: IN WITNESS HEREOF, Developer and CITY have caused this Agreement 0 By : By : CITY OF MUSKEGO: BY : David L. De Angelis, Mayor BY: Jean Marenda, City Clerk CERTIFICATION This is to certify that the foregoing is a true and correct copy of Muskego, Wisconsin, as entered into on the the Subdivider's Agreement for Victorian Villas Development, August, 1996, by and between pursuant to the authorization by the Common Council from their meeting on the day of August, 1996. day of and the CITY OF MUSKEGO, PUBLIC IMPROVEMENT COST BREAKDOWN Indicate the cost of each public improvement to be installed. List amounts for each category and sub-category item. Contractors bid ereview this breakdown and approve a total amount to establish a Letter of estimates shall be submitted with this breakdown. The City Engineer will Credit. Amount 1. 2. 0 3. 4. 5. 0 Road a. Excavation to subgrade b. Stone base material c. Bituminous base course pavement d. Bituminous surface course pavement e. Concrete pavement f. Other - BM& pH&/ B07L C'' g. Engineering inspections /& 00 dL) TOTAL i0 2 76 '* > z2 + L)L" Site Grading-Landscaping a. Lot grading b. Drainage ditch construction c. Retention pond construction 2.250 ** d. Parking area construction-incl. pavement e. Tree & shrub plantings f. Landscaping as specified by City g. Erosion control -=30 h. Engineering inspections '3L)* 0') i. Other TOTAL i + 3 82-0 Topsoil, Seeding/Sodding a. Road ditch area b. Terrace areas-in R.O.W. c. Drainage ditches d. Retention ponds e. Areas as specified by City f. Engineering inspections g. Other TOTAL Concrete Improvements a. Curb & gutter b. Sidewalk - I c. Blvd./traffic islands d. Ditch inverts e. Engineering inspections TOTAL f. Other Sanitary Sewer System a. Mains, risers & manholes> b. Laterals c. Dumping station & generator d. Force main e. Grinder pumps & chamber- individual dwelling f. Engineering Inspections g. Other TOTAL " 5so *" - .z.3*G"o f4/ I Oi 2ubli.c Improvement Cost Breakdown raqe 2 Amount 6. Water Main System a. Mains, valves, h manholes b. Hydrants h leads d. Well h pumphouse c. Water services e. Engineering inspections TOTAL f. Other I. Storm Sewer System - .- a. Mains & manholes b. Catch basins & leads c. Culverts /cj+L'h d. Drain tile e. Headwalls/discharge structures f. Engineering inspections is0 =. g. Other, TOTAL +3$4 4L 8. Special/Misc. Improvements & Retainage a. Street lights b. Street signs - fh3NGkd /56 'u c. Signs as specified by City d. Erosion Control/Vegetation Retainage 370@J0 TOTAL e. Other '39 5 6 co Fees a. City administration b. Engineering inspections-See each Section (required for all Letters of Credit) c. Engineering-as built drawings for w/s. /300 d. Legal /do0 O0 e. Land acquisition f. Other TOTAL 2 675 e' .T75 c 0 TOTAL PROJECT ESTIMATE NOTE: At time of submittal of developer, as per Section 10.8 of the Land Division Ordinance, shall submit an administrative fee of $75 plus $50 per public improvement category; excepting the categories of Special/Misc. Improvements and Fees. (Categories 8 h 9) TXTCITY/PLAN:M-PCBRKD.OWN O-Wauwatosa vv = - - SAVINGS BANK 7503W. SlateSI. / Wauwatosa'NI 53213 / (414)258-5880 MODEL LETTER OF CREDIT IRREVOCABLE STANDBY DOCUMENTARY CFEDIT CREDIT NO: 14-179461-9 AMOUNT. DATE: APPLICANT. BIRDSALL/HORNING &ASSOCIATES, INC. BENEFICIARY ClTY OF MUSKEGO -W182 S8200 RACINE AVENUE MUSKEGO,WI 53150 a Dear Sirs: - We hereby issue this irrevocable documentary credit in your favor which available by beneficiary's drafI(s) at sight drawn on WAUWATOSA SAVINGS BANK. Each draft accompanying documents must state ''Drawn Under WAUWATOSA SAVINGS BANK Documentary Credit No. 14-179461-9" This Standby Credit is to provide a guarantee to the City of Muskego for the performance of BIRDSALL/HORNING &ASSOCIATES, INC. obligations under the certain agreement dated between the City of Muskego and applicant. DRAFTS ARE TO BE ACCOMPANIED BY: A statement signed by the Mayor of the City of Muskego stating that BIRDSALL/HORNING & ASSOCIATES, INC. has failed to complete the construction of subdivision improvements in accordance with said Agreement. Said statement shall set forth the estimated amount necessary for the City of Muskego to complete such improvements. Continued on Page two (2) which is an integral part of this Standby Credit. Page 2, An integral part of Standby Credit No. 14-179461-9. SPECIAL. CONDITIONS: This Standby Credit mill terminate on , provided, however, WAUWATOSA SAVINGS BANK shall give written notice to the beneficiary of its intention to terminate this Standby Credit at 90 days prior to After the date, this Letter of Credit can only terminate upon 90 days written notice to the beneficiary. It is hereby agreed by all parties hereto that the reference to “Agreement” is for identification purposes only and such reference shall not be construed in any manner to require WAUWATOSA SAVINGS BANK, to inquire into its term and obligations. We engage with you.that.drafts drawn under and m compliance with the terms of this credit will be duly honored ifpresented on or before the expiration date. This original Standby Credit must be submitted to us together with any drawings hereunder for OUT endorsement of any payments effectedby us andor for cancellations. Very Truly Yours, WAUWATOSA SAVINGS BANK Lyle W. Larcheid Sr. Vice President APPROVAL OF DEVELOPMENT AGREEMENT . BETWEEN THE CITY OF MUSKEG0 Ah VICTORIAN VILLAS / upon the recommendation of the Finance C does hereby BE IT RESOLVED that the Common Council of Muskego, approve the attached Developer's between the City of Muskego and Victorian Villas of the City Attorney. BE IT FURTHER RESOLVED that are authorized to execute the DATED THIS DAY OF / , 1996. / / SPONSORED BY: FINANCE COMMITTEE Ald. Domonic D'Acquisto Ald. David J. Sanders This is to certify that this is a true and accurate copy of City of Muskego. Resolution #194-96 which was adopted by the Common Council of the Clerk-Treasurer 8/96imb .- DEVELOPER'S AGREEMENT This Agreement, made this day of July, 1996 by and between Birdsall/Horning And Assoc., Inc. for Victorian Villas the "Developer" and the City of Muskego, a municipal corporation of the State of Wisconsin, located in Waukesha County, hereinafter called the "City". WITNESSETH WHEREAS, the Developer has submitted for approval by the City a proposed amendment to the Durham Meadows Planned Development known as Victorian Villas, a boundary description of which is attached hereto as Exhibit A, the original of which will be recorded with the Register of Deeds for Waukesha County and a copy of which is on file in the Office of the City Clerk, for which a Final Building, Site and Operational Plan was approved by the City Plan Commission on WHEREAS, Wisconsin Statutes and the City of Muskego Zoning Ordinance provides that as a condition of approval, the governing certain public and private improvements reasonably necessary for the development and further, may require dedication of certain improvements according to municipal specifications without cost to improvements to be conditioned upon the construction of said said municipality; and ~ body of the City may require that the Developer make and install WHEREAS, the City's Engineers, the City's Public Works Committee, Public Utility Committee and Finance Committee have duly approved, contingent of certain other approvals, Developer's plans and specifications for development improvements, and the City's Plan Commission and Common Council have duly approved the final development plan contingent upon the execution and performance of this agreement by the Developer. NOW, THEREFORE, in consideration of the covenants herein contained, the parties hereto agree as follows: SECTION I. IMPROVEMENTS: Developer, entirely at its expense, shall: A. DRIVEWAY AND BIKE PATH RIGHT-OF-WAY 1. Developer shall construct, install, furhish and vide as approved by the City engineer and Public Works committee appopriate driveway access and bike path in 0 0 accordance with plans and specifications attached hereto, and made a part hereof and marked Exhibit B. B. STORM AND SURFACE WATER DRAINAGE AM) MASTER GRADING PLAN: 1. Developer shall construct, install, furnish and provide facilities as approved by the City Engineer water drainage throughout the entire Development all and Public Works Committee for storm and surface attached hereto, made a part hereof and marked in accordance with the plans and specifications Exhibit "C". The City retains the right to require the Developer to install additional storm drainage and erosion control measures prior to final approval and/or acceptance of improvements by the City of Muskego. 2. The CITY shall furnish to the Developer such permits or easements as may be required in any public street or property to enter upon and install the above described surface water drainage system therein. 3. Grade and improve all disturbed areas in conformance with the Master Grading Plan attached hereto and made a part hereof and marked Exhibit "C". Restore with grades must be verified by Developer's Engineer after topsoil and seed. Establish dense vegetation. All completion with the following tolerances: All lot corners must be from exact to plus or minus two (2) inches. Overall lot grades must be from exact to minus six (6) inches. House pads from exact to minus twelve (12) inches. All swales and ditches must be graded to exactly minus three (3) inches to allow for standard finish. (See Section XI1,F.) 4. At Developer's expense, and prior to acceptance of improvements and the issuance of building permits by the City, all storm sewers shall be cleaned (See Section XI1.D). C . WATER: 1. Developer shall construct, install, furnish, and provide a complete system of water supply and distribution, throughout the entire Development, as approved and in accordance with the plans and specifications attached hereto as Exhibit "D" and in compliance with all State, County and local regulations. 2. The CITY shall furnish the Developer such permits or public property to enter upon and install the above easement as may be required in any public street or described water system therein. 3. Any water used from hydrants shall be metered and a permit taken out through the CITY OF MUSKEGO. D. SANITARY SEWER: 1. Developer shall construct, install, furnish, and provide a complete sanitary sewage collection system throughout the entire Development, as approved by the City Engineer and the Public Utilities Committee all drawings attached hereto as Exhibit "E". The cost of in accordance with the plans, specifications and the preparation of asbuilt plans shall be paid by the Developer. 2. The CITY shall furnish the Developer such permits or easements as may be required by any public street or public property to enter upon and install the above described sewage system therein. 3. Developer shall complete, to the satisfaction of the City Engineers, any remaining punch list items concerning the Sanitary Sewer System prior to the connection of any residence to the sanitary sewer systems. 4. The Developer shall televise the sanitary sewer system, repair any defects as determined by the City Engineer, and supply video tape to City of Muskego, and clean all sewer lines prior to the issuance of building permits, except for model homes, and acceptance of improvements by the City (See Section XI1.E). E. LANDSCAPING: 1. Developer shall preserve existing trees outside of the public right-of-way whenever practical, when installing the Development improvements. 2. Developer shall remove and lawfully dispose of: (a) all old barns, outbuildings; (b) destroyed trees, brush, tree trunks, shrubs and other natural growth; (c) and all rubbish. All demolition must be completed prior to 2nd building occupancy permit being issued or 18 months whichever comes first. 3. Developer shall plant street trees in accordance with the approved landscape plan. F. EROSION CONTROL MEASURES: 1. Developer shall construct, install, furnish and provide a complete system of Erosion Control Devices or measures in specified areas of the Development, as 1 e 0 approved by the City Engineer and the Building Inspection Department attached hereto as Exhibit with Chapter 29 of the City's Municipal Code. "F"and in accordance with the plans and specifications 2. Install silt fencing in conformance with the approved plans prior to the grading and construction work. until such time as turf cover is established in the Such fences shall be maintained by the Developer Development. No grading shall occur without a two (2) day notice to the City. 3. Mulching and seeding of all disturbed areas to comply with Chapter 29. 4. Developer is responsible for obtaining Erosion Control Permits for the site for controlling erosion on the site and each individual building site at the time any vegetation is disturbed and are responsible for controlling erosion on site. 5. Thousand Dollars ( Letter of Credit (under Section XIV), shall be retained until adequate vegetation is established as determined by the Building Inspection Department. A Thousand Dollars ($ reduction of fifty percent (50%) of the .OO) portion of the Letter of Credit is allowable upon verification of fifty percent (50%) of disturbed areas are vegetated. If, upon a written notification by the Building the terms are not corrected within five (5) days, the Inspection Department of non-compliance of Chapter 29, City may utilize the ($ Thousand Dollars correct the terms of non-conformance. From time to time, additional funds may be required in the Developer's Deposit to cover the cost of maintenance as deemed appropriate by the Department. .OO) from the .OO) portion of the Letter of Credit to SECTION 11. TIME OF COMPLETION OF IMPROVEMENTS: by the Develop in total within one (1) year from signing of this Agreement or except if an earlier date is provided for in the Agreement. The final surface course pavement shall be deferred until ninety percent (90%) of the buildings have been completed or 36 months after the installation of the first lift of asphalt, The improvements set forth in Section I above shall be completed 0 whichever comes first. twelve (12) months of the date of this agreement, the Developer 0 shall extend the Letter of Credit in a form acceptable to the City until such time as the final surface course of pavement is completed. If the City receives notice of the intention to terminate the Letter of Credit prior to completion of the final surface course pavement, such notice shall be considered a failure to complete improvements in accordance with this agreement and shall entitle the City to immediately draw against the Letter of Credit. If the final surface course of pavement is not completed within SECTION I11 DEDICATION Subject to all of the other provisions of this agreement, Developer shall, without charge to the City, upon completeion of the above described improvements, unconditionally give, grant, convey and fully dedicate to the extend of the Developer's intrest, the driveway facilities and bike path as illustrated on Exhibit "A" to the City, it successors and assigns, forever, free and clear of all encumberances whatever together with and including, without limitation because of enumeration, any and all lands, structures, or pertain to such improvements and together with any and all conduits, pipes and hereditaments which may in any way be a part of necessary easements for access thereto. The City will be receptive to dedication of said improvements after the final lift of bituminous been completed and approved by the City Engineers and other agencies concrete pavement has been installed, when all said utilities have as applicable. SECTION IV , INSPECTIONS AND ADMINISTRATIONS FEES: signing of the Agreement, at times specified herein, but in any event, no later than thirty (30) days after billing, all fees, expenses and disbursements which shall be incurred by the CITY prior to and following the date hereof in connection with or relative to the construction, installation, dedication and acceptance of the improvements covered by Section I, including without limitation by reason of enumeration, design, engineering, preparing, checking and review of designs, plans and specifications; supervision, inspection to insure that construction is in compliance with the applicable plans, specifications, regulations and ordinances; legal, administrative and fiscal work undertaken to assure and implement such compliance. Failure to pay or reimburse the City in a timely manner may cause the City to cease all construction inspections until such time as all anticipated or outstanding inspection and administration fees have been satisfied. SECTION V. MISCELLANEOUS REQUIREMENTS: Developer shall pay and reimburse the City in advance of the The Developer shall: A. Easements: Provide any easements on Subdivider's land deemed necessary by the City Engineers prior to the Developer's Agreement being signed, provided such easements are along lot lines or to the rear of the lots and are not any more restrictive to the building of homes beyond the applicable sideyard and offset distances required by the zoning for such lots. B. Street Signs: Reimburse the CITY for the cost of all of their installation. street signs, traffic signs and posts, including the cost C. Manner of Performance: Cause all construction called for by this Agreement to be carried out and performed in a good and workmanlike manner. D. Survey Monuments: Properly place and install any lot, block or other monuments required by State Statute or City Ordinance. E. Grades: Furnish to the Building Inspector and the CITY a copy of Exhibit "C" showing the street grade in front of each lot, the finished yard grade, the grade of all four (4) corners of the lot and grades of the buildings'on adjoining lots, where applicable, as existing and as proposed. e F. Sight Distances: Restricts the property so that no structure of any kind which exceeds a height of 2 1/2 feet above the center of the intersection shall be permitted in the vision setback area in conformance with Section 17:5.02(2) of the Zoning Ordinance. G. Sump Pump Connections: The Developer shall furnish to the Plumbing Inspector of the CITY a copy of storm drains and clean out locations in the form attached hereto and made part hereof and marked Exhibit "H" showing the locations of connections whereby sump pump drains can be The ends of each line shall have a clean out in conformance connected from each dwelling to the storm sewer system. with the City Standard Details. H. Street Lights: Install street lights in accordance with Section 18.0911 of the City's Land Division Ordinance. I. Permits: Submit to the CITY valid copies of all agency permits including the Wisconsin D.N.R. and U.S. Army Corps of Engineers before construction commences and prior to any preconstruction meeting. J. Sewer Extension Permits: (a) The City of Muskego has, pursuant to the Drovision of Chaoter 21 of the Citv Code, granted the Deveioper EIGHTEEN ( 18) Residential. Equivalent Connections (REC's) as defined in Section 21.04- development of all lands contemplated by the Developer in (22) of the City's Sewer Utility Ordinance, for the an r Pa all phases of this development including future phases. Developer is using TWELVE REC's in the phase of development which is the subject of ( 12) of the above-noted this Developer's Agreement and shall secure the installation of said sewer extensions as provided elsewhere in this agreement and as required by the City Code. There will then remain s IX ( 6) REC's of capacity for future phases of the development. (b) The remaining SIX ( 6) REC's of capacity shall automatically terminate and the allocation of said capacity shall cease to the extent that said sewer by the City to make said certification, to be completely extension is not certified, by a representative appointed constructed and approved within four (4) years of the execution of the present Subdivider's Agreement. (c) The Developer may, within the four year period referred to above, request that the City enter into an additional Developer's Agreement for the next phase of the development. Any remaining REC's which have not been used within the four years as noted above may be extended pursuant to the terms of said Developer's Agreement provided, however, that the installation of sewer extensions must be secured as provided in this agreement or when not prohibited by other ordinances or resolutions of the City, upon other security deemed appropriate by the City and under terms and conditions satisfactory to the City and in accord with the City's ordinances, resolutions and policies herein shall expire within four years of the date of execution of that subsequent Developer's Agreement. (d) The Developer may request additional Developer's Agreement(s) be entered into for subsequent phases. Any such agreement shall be subject to the same terms and conditions as stated in subsections (a), (b) and (c) above. (e) Notwithstanding any of the above provisions, all unused sewer capacity granted to the Developer as referenced in this agreement shall automatically terminate and the allocation of said capacity shall cease on the 21st day of December, 2002. SECTION UI. GUARANTEES: The Developer shall guarantee the public roads and streets, sanitary sewers, watermains, surface water drainage improvements all other improvements described in Section I, Items A, B, C, & hereof, against defects due to faulty materials or workmanship provided that such defects appear within a period of one (1) yea from the date of dedication and acceptance. The Developer shall materials or workmanship. This guarantee shall not be a bar to for any damages to CITY property resulting from such faulty action the CITY might have for negligent workmanship or material Wisconsin law on negligence shall govern such situation. SECTION VII. GENERAL INDEMNITY: In addition to, and not to the exclusion or prejudice of, a provisions of this agreement or documents incorporated herein by reference, Developer shall indemnify and save harmless, and agre to accept tender of defense and to defend and pay any and all reasonable legal, accounting, consulting, engineering and other expenses relating to the defense of any claim asserted or impose upon the CITY, its officers, agents, and employees, and independ contractors growing out of this agreement as stated above by any party or parties. The Developer shall also name as additional insured on its general liability insurance the CITY, its officer agents, and employees, and any independent contractors hired by CITY to perform service as to this Development and give the CITY evidence of the same upon request by the CITY. es d ent S, the rty to on ent nd SECTION VIII. AGREEMENT FOR BENEFIT OF PURCHASERS: The Developer shall agree that in addition to the CITY'S rights herein, the provisions of this Agreement shall be for the benefit of the purchaser of any lot or any interest in any prope or building in the Development. Further, that the sale of any lo parcel shall not release the Developer from completing the work the attached Exhibits. SECTION IX. ACCEPTANCE OF WORK AND DEDICATION: As and when the Developer shall have completed the improvem herein required, and shall dedicate the same to the CITY as set forth herein, the same shall be accepted by the CITY if said improvements have been completed as required by this Agreement a as required by applicable CITY ordinances and other applicable 1 and approved by the City Engineer, City Finance Committee and Co Council. SECTION X. EROSION CONTROL PLAN AND PERMIT: The Developer shall submit to the CITY, an application for Land Disturbing Permit and an Erosion Control Plan in accordance with the requirements of Section 29.06 of the CITY'S Erosion Control Ordinance (Ord. #560). No construction or grading can b until said permit is received from the CITY. SECTION XI. CONSTRUCTION PERMITS, ETC...: 1. The CITY shall, within its authority, issue such permit adopt such resolutions, and execute such documents as may be necessary to permit the Developer to construct the improvements accordance with the plans and specifications called for by this agreement, upon Developer's compliance with any deposit provisio or other requirements of the applicable ordinances or regulation e and the CITY shall cooperate with the Developer in obtaining sim permits, resolutions and documents as may be necessary from othe authorities having jurisdiction in the premises. 2. The CITY shall, as a condition of the Developer executi this Agreement, make available to the Developer or their nominee successors or assigns, building permits for the construction of single family residences subject to the provision of Section XI1 r ied d ies at SECTION XII. BUILDING AND OCCUPANCY PERMITS: It is expressly understood and agreed that no building permits or occupancy permits shall be issued for any building or unit until the City's Engineers have determined that: A. The sanitary sewer and surface water drainage are connected with an operational system as facilities required to serve such buildings building permits, and required herein prior to issuance of C. Water system to serve such buildings are connected with an operational system as required prior to issuance of occupancy permits, and D. The Building Inspector verifies that the installation of gravel drive base has been installed to each building pad. E. Video tape of sanitary sewer system completed if applicable prior to occupancy (See Secti I.D.4) F. All lot grades shall conform to the Master Plan prior to occupancy (See Section I.A.3 on Gradin G. Negative balance in Developer's Deposit is satisf pior to building permits or occupancy permits unless otherwise authorized by the Planning Director. SECTION XIII. GENERAL CONDITIONS AND REGULATIONS: All the provisions of the CITY'S ordinances are incorporate herein by reference, and all such provisions shall bind the part hereto and be a part of this Agreement as fully as if set forth length herein. This Agreement and all work and improvements - required hereunder shall be performed and carried out in strict accordance with and subject to the provisions of said ordinances SECTION XIV. FINANCIAL GUARANTEES: A. LETTER OF CREDIT: 0 E. C. D. Prior to the execution of this agreement by the CITY, the Developer shall file with the CITY a Letter of Credit setting forth terms and conditions approved by the CITY Attorney in the amount of $ the required plans, improvements, and approvals will be completed by the Developer and his subcontractors no later than one (1) year from signing of the Agreement, except if another date is provided within this Agreement and as a further guarantee that all obligations to the subcontractors for work on the Development are satisfied (See Section XIV. D. regarding Developer's Deposit). INVOICES : addressed in the Letter of Credit, but attributable to the Invoices documenting public improvements addressed and not time of the signing of this Developer's Agreement. subject development shall be provided to the CITY at the RELEASE OF FUNDS FROM LETTER OF CREDIT: The Subdivider shall provide CITY with a written request to Amendment to Letter of Credit form, invoices for work the Finance Committee accompanied by: Request for completed for which a release is being requested, breakdown of invoices in format of Public Improvement Cost Breakdown request (See Section X1V.D.). form, lien waivers for all work which is subject of release as a guarantee that DEVELOPER'S DEPOSIT: The Developer shall maintain a positive balance in the Developer's Deposit. No release from the Letter of Credit shall be entertained until the Developer's Deposit is satisfied unless otherwise authorized bv the Common Council ~ ~~~ following a recommendation of the Finance Committee (See Section X1V.C.). SECTION XV. PARTIES BOUND: 1. Developer or his assignees shall be bound by the terms of this agreement or any part herein as it applies to any phase of the development. 2. Approval by the City shall not be deemed a waiver as the ultimate responsibility for the proper design and areas, water facilities, drainage facilities, ditches, installation of streets improvements, drive and parking landscaping and all other improvements shall be the Developers. The fact that the City or it's engineers, or shall not constitute a waiver, or relieve the Developer it's attorney, or it's staff may approve a specific project from ultimate responsibility for the design, performance, and function of the Development and related infrastructure. SECTION XVI. ASSIGNMENT: Developer shall not assign this Agreement without the written consent of the CITY. SECTION XVII. AMENDMENTS: agreement, by written agreement between the CITY and the Developer. The CITY and the Developer, by mutual consent, may amend this to be signed by their appropriate officers and their seals to be hereunto affixed in duplicate original counterparts on the date and year first written above. Developer: IN WITNESS HEREOF, Developer and CITY have caused this Agreement CITY OF MUSKEGO: BY : David L. De Angelis, Mayor BY : Jean Marenda, City Clerk 0 WAUKESHA COUNTY STATE OF WISCONSIN ) SS ) PERSONALLY came before me this day of July 1996, to me known to be the person who executed the foregoing instrument and acknowledged the same. Notary Public-State of Wisconsin My Commission Expires STATE OF WISCONSIN ) SS WAUKESHA COUNTY PERSONALLY came before me this day of July, 1996, the above named David L. De Angelis, Mayor, and Jean Marenda, City Clerk, of the above-named municipal corporation CITY of Muskego, to me known to be the persons executed the foregoing instrument, and to me known to be such Mayor and City Clerk of said municipal corporation, and acknowledged that they executed the corporation by its authority and pursuant to the authorization by foregoing instrument as such officers as the deed of said municipal the Common Council from their meeting on the day of h 1 , 1996. My Commission Expires Notary Public-State of Wisconsin CERTIFICATION This is to certify that the foregoing is a true and correct copy of the Subdivider's Aareement for Victorian Villas DeVelODment. Muskego, Wisconsin, as entered into on the 1996, by and between Dursuant to the authorization bv the Common Council from their a day of. July, and the CITY OF MUSKEGO, meeting on the day of hly, 1996. PUBLIC IMPROVEMENT COST BREAKDOWN Indicate the cost of each public improvement to be installed. List amounts for each category and sub-category item. Contractors bid estimates shall be submitted with this breakdown. The City Engineer will review this breakdown and approve a total amount to establish a Letter of 0 Credit. 1. 2. 0 3. 4. 5. 0 Amount Road Construction - LI~,~'w~ v io &ON d. b. Stone base material a. Excavation to subgrade c. Bituminous base course pavement 3> 2+2&"' d. Bituminous surface course pavement e. Concrete pavement f . Other - ,9k& pMb/ g. Engineering inspections ft.76 Cc) TOTAL /& 00 JU ic9 2 76 "' Site Grading-Laidscaping a. Lot grading b. Drainage ditch construction c. Retention pond construction d. Parking area construction-incl. pavement e. Tree & shrub plantings f. Landscaping as specified by City g. Erosion control h. Engineering inspections TOTAL i. Other Topsoil, Seeding/Sodding a. Road ditch area b. Terrace areas-in R.O.W. c. Drainage ditches d. Retention ponds e. Areas as specified by City f. Engineering inspections g. Other TOTAL Concrete Improvements a. Curb & gutter b. Sidewalk - c. Blvd./traffic islands d. Ditch inverts e. Engineering inspections f. Other TOTAL Sanitary Sewer System a. Mains, risers & manholes> b. Laterals c. Dumping station & generator d. Force main e. Grinder pumps & charnber- individual dwelling f. Engineering Inspections g. Other TOTAL 2ubliC Improvement Cost Breakdown rage 2 Amount 6. e - 7. 8. Water Main System a. Mains, valves, L manholes b. Hydrants h leads c. Water services d. Well h pumphouse e. Engineering inspections f. Other TOTAL Storm Sewer System b. Catch basins & leads a. Mains h manholes d. Drain tile c. Culverts e. Headwalls/discharge structures f. Engineering inspections g. Other TOTAL Special/Misc. Improvements L Retainage a. Street lights b. Street signs - wg/‘L/ c. Signs as specified by City d. Erosion Control/Vegetation Retainage e. Other TOTAL Fees a. City administration b. Engineering inspections-See each Section (required for all Letters of Credit) d. Legal c. Engineering-as built drawings for w/s. e. Land acquisition f’. Other TOTAL ~~ -0 - 3700 3p <o cu TOTAL PROJECT ESTIMATE NOTE: At time of submittal of developer, as per Section 10.8 of the Land Division Ordinance, shall submit an administrative fee of $75 plus $50 per public improvement category; excepting the categories of SpecialjMisc. 1mpro;ements and Fees. (Categories 8 h 9) - - SAVINGS BANK 75CO W Slate St. 1 Wawarosa. WI 53213 1 (414) 258-5880 MODEL LETTER OF CREDIT IRREVOCABLE STANDBY DOCUMENTARY CREDIT CREDIT NO: 14-179461-9 AMOUNT. DATE: APPLICANT. BIRDSALLMORNING & ASSOCIATES, INC. BENEFICmY: ClTY OF MUSKEG0 ~W182S8200 RACtNE AVENUE MUSKEGO, WI 53150 0 Dear Sirs: We herebv issue this irrevocable documentarv credit in your favor which is available bv benefi&’s draft(s) at sight drawn on WALhATOSA SAVINGS BANK. Each drak accompanying documents must state“Drawn Under WAUWATOSA SAVLNGS BANK Documentary Credit No. 14-179461-9”. This Standby Credit is to provide a guarantee to the City of Muskego for the performance of BIRDSALL/HORNING & ASSOCIATES, INC. obligations under the certain agreement dated between the City of Muskego and applicant. DRAFTS ARE TO BE ACCOMPANIED BY: A statement signed by the Mayor of the City of Muskego stating that BIRDSALL/HORNING & ASSOCIATES, INC. has failed to complete the construction of subdivision improvements in accordance with said Ageement. Said statement shall set forth the estimated amount necessary for the City of hluskego to complete such improvements. Continued on Page two (2) which is an integral part of this Standby Credit. Page 2, An integral part of Standby Credit No. 14-179461-9. SPECIAL CONDITIONS: This Standby Credit will terminate on , provided, however, WAWATOSA SAVINGS BANK shall give written notice to the beneficiary of its intention to terminate this Standby Credit at 90 days prior to After the date, this Letter of Credit can only terminate upon 90 days written notice to the beneficiary It is hereby agreed by all parties hereto that the reference to “Agreement” is for identification purposes only and such reference shall not be construed in any manner to require WAUWATOSA SAVINGS ,, BANK, to inquire into its term and obligations. We engage with you that drafts drawn under and in compliance with the tern of this credit will be duly honored ifpresented on or before the expiration date. This original Standby Credit must be submitted to us together with any drawings hereunder for our endorsement of any paGents effected by us and/or for cancellations. IO Very Truly Yours, I - WAUWATOSA SAVINGS BANK I Lyle W, Larcheid