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CCR1994054AMENDED COMMON COUNCIL - CITY OF MUSKEG0 RESOLUTION #54-94 APPROVAL OF FINAL PLAT, SUBDIVIDER'S AGREEMENT AND LETTER OF CREDIT Lakeview Highlands North WHEREAS, a Final Plat was submitted on December 7, 1993 for the 39-lot Lakeview Highlands North Subdivision in the SW 1/4 of Section 5; and WHEREAS, extensions were granted by the Developer to the City On March 14, 1994; and January 7, 1994 with the final extension being granted until WHEREAS, the Preliminary Plat was approved in Resolution #159-93; and WHEREAS, the Plan Commission has recommended approval subject to satisfactory fulfillment of concerns/conditions of the City Planning, Building and Parks Departments, the City Engineer, the State of Wisconsin Department of Agriculture, Trade and Consumer easement or dedication documents, and construction plans (grading plan); and WHEREAS, the Subdivider's Agreement and Letter of Credit have been received for Lakeview Highlands North, as attached, and the Finance Committee has recommended approval. NOW, THEREFORE, BE IT RESOLVED that the Common Council of the City of Muskego, upon the recommendation of the Plan Commission, does hereby approve the Final Plat for Lakeview Highlands North, subject to approval of the City Engineer and all objecting and approving agencies, and receipt of all fees as provided in Section 10 of the Land Division Ordinance. BE IT FURTHER RESOLVED that the Subdivider's Agreement and Letter of Credit for Lakeview Highlands North, as amended and attached, is hereby approved subject to approval of the City Attorney and City Engineer, and subject to the approval of the Letter of Credit by the City Attorney, all of said approvals to be obtained within thirty (30) days of the date of approval of this Resolution or the same will be null and void. Protection, Waukesha County Park and Planning, any required Resolution #54-94 DATED THIS 8TH DAY OF MARCH , 1994 SPONSORED BY: FINANCE COMMITTEE Ald. Patrick A. Patterson Ald. Edwin P. Dumke Ald. David J. Sanders This is to certify that this is a true and accurate copy of Resolution #54-94 which was adopted by the Common Council of the City of Muskego. 4/94 jmb NOTICE OF DEVELOPER'S AGREEMENT AFFECTING LAND CITY OF MUSKEGO PLEASE TAKE NOTICE that the Common Council of the City of Muskego has entered into a Developer's Agreement dated the // day ofMm4 , 199p with the owner/developer of the following described property: 4 Lakeview Hiqhlands North Subdivision ATTACHED AS EXHIBIT "A" PLEASE TAKE FURTHER NOTICE that there are a number of obligations that have been imposed upon the owner/developer of the above described property that apply to the land involved, irrespective of future ownership and shall continue with the land as deed restrictions. PLEASE TAKE FURTHER NOTICE that a complete copy of the Developer's Agreement is obtainable by contacting the City Clerk of the City of Muskego during regular business hours. This Notice of Developer's Agreement dated at Muskego, Wisconsin, this // day of MfllgCH , 199q. BY THE COMMON COUNCIL k. hymhrLL K. MARENDA - CITY CLERK SUBSCRIBED AND SWORN TO BEFORE ME this// day offloccA , 1992' 7 My commission expires r5 -,-..?J-% This document drafted by Jean K. Marenda City Clerk, City of Muskego EXHIBIT "A" Lakeview Highlands North, being a subdivision of the Northeast Quarter (NE 1/4), Northwest Quarter (NW 1/4), Southwest Quarter (SW 1/4), and Southeast Quarter (SE 1/4) of the Southwest Quarter (SW 1/4) of Section 5, Town 5 North, Range 20 East, City of Muskego, Waukesha County, Wisconsin, bounded and described as follows: Commencing at the southeast corner of said Southwest Quarter (SW 1/4); thence South 88O50'19" West along the south line of said Southwest Quarter (SW 1/4) 321.070 feet to a point on the westerly right-of-way line of Racine Avenue (C.T.H. Y); thence North 02°59'38" West along said right-of-way line 312.387 feet; thence North 06°01'47" East along said right-of-way line 1205.000 feet to the northeast corner of Lakeview Highlands, a recorded subdivision, and the place of beginning of the lands hereinafter described; thence continuing North 06"01'47" East along said right-of-way line 711.354 feet; thence North 08°54'30" West along said right-of-way line 369.160 northwesterly 85.182 feet along said right-of-way line along the arc of a curve feet to a point on the southerly right-of-way line of Tans Drive; thence of radius 1959.860 feet, center lies to the north, chord of said arc bears North 84°41'41.5" West 85.176 feet; thence North 83O26'59" West along said right-of-way line 46.500 feet; thence northwesterly along said right-of-way line 137.497 feet along the arc of a curve of radius 1859.860 feet, center lies to the south, chord of said arc bears North 85O34'03.5" West 137 466 feet; thence South 00°49'43" East 207.800 feet; thence South 89°10'17" West 461.540 feet; thence South 89°10'17" West along said right-of-way line 870.754 feet; thence thence North OO"49'43" West 227.000 feet to said southerly right-of-way line; South 00°02'17" West 1321.529 feet; thence North 89"00'15" East 457.275 feet; thence South 00°07'13" West 679.737 feet; thence South 00°00'15" West 22.245 feet to the northwest corner of said Lakeview Highlands; thence North 42O21'30" East along the north line of said Lakeview Highlands 120.648 feet; thence North 36'25'00'' East along said north line 600.000 feet; thence North 46'40'34'' East along said north line 394.122 feet; thence North 79°09'50" East along said north line 411.175 feet to the place of beginning. Containing an area of 2,141,967 square feet (49.173 acres). Dedicating the northerly 7.00 feet for public street purposes. (' SUBDIVIDER'S AGREEMENT This agreement made this /I day of Jv\4/cl? , 1994, , t4 VIEW DEVELOPMENT PRRTNERSHIP, the "Subdivider," and the icipal corporation of the State of Wisconsin, located in einafter called the "City." B B WITNESSETH . , by and between CITY OF MUSKEGO, a Waukesha 'County, final plat for LAKEVIEW HIGHLANDS NORTH, 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 plat was approved by the City, on 3/8/97 . WHEREAS, the Subdivider has submitted for approval by the City a proposed WHEREAS, Section 236.13 of the Wisconsin Statutes provides that as a condition of plat approval the governing body of the City may require that the Subdivider make and install certain public improvements reasonably necessary for the Subdivision and further, may require dedication of public streets, alleys or other ways within the Subdivision, to be conditioned upon the construction of said improvements according to municipal specifications without cost to said municipality; and WHEREAS, the City's Engineers, Public Works Committee, Public Utility Committee and Finance Committee have duly approved, contingent of certain other approvals, the Subdivider's plans and specifications for Subdivision improvements, and the City's Plan Commission and the Common Council have duly approved the final plat of WVIEW HIGHLANDS NORTH, contingent upon the execution and performance of this Agreement by the Subdivider. NOW, THEREFORE, in consideration of the covenants herein contained, the parties hereto agree as follows: SECTION I. IMPROVEMENTS The Subdivider, entirely at its expense, shall: A. Roads and Streets: Grade and improve all roads and streets in LAKEVIEW HIGHLANDS NORTH, in accordance with the plat of said Subdivision and the plans and specifications attached hereto, made a part hereof and marked Exhibit "B", all in accordance with the City's street specifications. B. Surface and Storm Water Drainaqe and Master Grading Plan: 1. The Subdivider 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 Subdivision, and a Master Grading Plan providing for sump pump discharge to a tile or storm sewer system, 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 prior to acceptance of improvements by the City of Muskego. Subdivider to install additional storm drainage and erosion control measures 2. The City shall furnish the Subdivider such permits or easements as cribed surface water drainaqe system therein. 3. Grade and improve all lots in conformance with the Master Grading be required in any public street or propertv to enter upon and install the plan as attached hereto, made part hereof and marked Exhibit "C". All lot corners must be from exact grade to minimum 3 inches. Overall lot grade must be from exact qrade to minus 6 inches. All swales and ditches must be graded to exactly minus 3 inches to allow for standard finish. The requirements of this paragraph shall be complied with prior to the issuance of any building permits by the City, includinq model homes (see Section XI1 F). 4. At the Subdivider's expense, and prior to acceptance of improvements and the issuance of buildinq permits b.y the City (not including I model homes which are governed by separate aqreement), all storm sewers shall be cleaned (see Section XI1 D). b C. Water: Not applicable D. Sanitary Sewer: b complete sanitary sewaqe collection system throughout the entire Subdivision, all in accordance with the plans, specifications and drawings attached hereto as Exhibit "D". The cost of the preparation of as-built plans shall be paid by the Subdivider. 1. The Subdivider shall construct, install, furnish and provide a I )a 2. The City shall furnish the Subdivider such permits or easements as may be required by any public streets or public property to enter upon and install the above described sewage system therein. b 3. The Subdivider shall complete, to the satisfaction of the City Engineers, any remaining punch list items concerning the sanitary sewer system b: prior to connection of any residence to the sanitary sewer system. 4. The Subdivider 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 F). E. Landscaping: 1. The Subdivider shall preserve existing trees outside of the public right-of-way, wherever practical, in the construction of the Subdivision improvements. 2. The Subdivider shall remove and lawfully dispose of all old barns, outbuildings, destroyed trees, brush, tree trunks, shrubs and other similar natural qrowth and all rubbish. 8.13 of the Muskego Land Division 0,rdinance and Resolution #P.C. 101-93. 3. The Subdivider shall plant street trees in accordance with Section 2 in accordance with Exhibit "D". The Subdivider shall plant trees around the sanitary sewer lift . ~rosion Control Measures 1. The Subdivider shall construct, install, furnish and provide a lete system of erosion control devices or measures in specified areas of the ?&,division, as approved by the City Engineer and Building Inspection Department md in accordance with the plans and specifications attached hereto as Exhibit 'E" also in accordance with Chapter 29 of the City's Municipal Code. 2. Install silt fencing in conformance with the approved plans prior subdivider until such time as turf cover is established in the Subdivision. No 10 the grading and construction work. Such fences shall be maintained by the grading shall occur without a two day notice to the City. 3. Mulching and seeding of all terraced areas to comply with Zhapter 29. 4. The Subdivider is responsible for obtaining erosion control permits for the site for controlling erosion on the site and each individual lot owner vegetation is disturbed and responsible for controlling erosion on their lot. is responsible for obtaining a separate erosion control permit at the time any 5. Ten thousand dollars ($10.000.00) from the Letter of Credit (under Section XIV), shall be retained until adequate vegetation is established as determined by the Building Inspection Department. A reduction of fifty percent (50%) of the Ten thousand dollar ($10,000.00) 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 Ten thousand dollar ($10,000.00) portion of the Letter of Credit to correct the terms of non-conformance. SECTION 11. TIME OF COMPLETION OF IMPROVEMENTS The improvements set forth in Section I above shall be completed by the Subdivider in total within twelve (12) months of the date of this agreement being signed except if an earlier date is provided for in the agreement. The final surface course of pavement shall be deferred until 90% of the homes have been completed. If the final surface course of pavement is not completed within twelve (12) months of the date of this agreement, the Subdivider 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, the Subdivider shall, without charge to the City, upon completion of the above described 3 s, sanitary sewers, storm and surface water drainage facilities ts, unconditionally give, grant, convey and fully dedicate the roads those facilities which are to be owned and maintained by the eowners Association) as illustrated on Exhibit "A" and as described in the d restrictions, to the City, its successors and assigns, forever, free and 11 encumbrances whatever, together with and including, without because of enumeration, any and all land, buildings, structures, mains, conduits, pipe lines plat, machinery, equipment, appurtenances and hereditaments which may in any way be a part of or pertain to such improvements and together with any and all necessary easements for access thereto. The City will be receptive to dedications of said improvements, except roads and surface water drainage facilities after the first lift of bituminous concrete pavement has been installed, when all facilities have been completed and approved by the City Engineer and other agencies as applicable. SUBJECT IV. INSPECTIONS AND ADMINISTRATION FEES The Subdivider shall pay and reimburse the City in advance of the signing of the Agreement, in accordance with Section 10 of the City's Land Division Ordinance and at times specified herein, but in any event, no later than 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. SECTION V. MISCELLANEOUS REQUIREMENTS The Subdivider shall: A. Easements: Provide any easements on the Subdivider's land deemed necessary by the City Engineers before the final plat is signed, provided such easements are along lot lines 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 street signs, traffic signs and posts including the cost of their installation. 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. Deed Restrictions: Execute and record deed restrictions and provide proof of recording prior to sale of lots for LAKEVIEW DEVELOPMENT PARTNERSHIP in the form attached hereto, make a part hereof and marked Exhibit "F". The deed restrictions shall also contain the following language: 4 "Each lot owner must strictly adhere to and finish grade his lot in ordance with the Master Grading Plan on file in the office of the Subdivider the office of the City Building Inspector unless approved by the City Engineer. The Subdivider and/or the City and/or the agents, employees or independent contractors shall have the right to enter upon any lot, at any time, and the property owner is responsible for cost of the same." for the purpose of inspection, maintenance, correction of any drainage condition Exhibit "C" showing the street grade in front of each lot, the finished yard F. Grades: Furnish to the Building Inspector of the City a copy of grade, the grade of all four corners of the lot, and the lot corner grades of the buildings on adjoining lots where applicable, as existing and as proposed. G. Sight Distances: Restricts lots on the face of the plat so that no structure of any kind which exceeds a height of 2 1/2 feet above the center of with Section 17:5.02(2) F&G of the Zoning Ordinance. the intersection shall be permitted in the vision setback area in conformance H. Sump Pump Connections: The Subdivider shall furnish to the plumbing inspector of the City a copy of storm drains and cleanout locations in the form attached hereto and made part hereto and marked Exhibit "G" showing the locations of connections whereby sump pump drains can be connected from each out in conformance with the City Standard Details. dwelling to the storm sewer system. The ends of each line shall have a clean- I. Street Liqhts: Install street lights in accordance with Section 8.11 1 of the City's Land Division Ordinance. dedicated to the City as parkland. Marked Exhibit "J". J. Parkland Improvements/Dedications: Description of lands to be K. Permits: Submit to the City valid copies of all agency permits Exhibit "H" . ) including the Wisconsin DNR and U.S. Army Corps of Engineers. (Attached as L. Sewer Extension Permits: of the City Code, granted the Subdivider a sewer extension permit for up to 39 1. The City of Muskego has, pursuant to the provisions of Chapter 21 Residential Equivalent Connections (REC's) as defined in Section 21.04(22) of the City's Sewer Utility Ordinance , for the development of all lands contemplated by the Subdivider in all phases of this development including of development which is the subject of this Subdivider's Agreement and shall future phases. The Subdivider is using 39 of the above-noted REC's in the phase agreement and as required by the City Code. There will then remain 0 REC's of secure the installation of said sewer extensions as provided elsewhere in this capacity for future phases of the development. the allocation of said capacity shall cease to the extent that said sewer extension is not certified, by a representative appointed by the City to make said certification, to be completely constructed and approved within four years 2. The remaining 0 REC's Of capacity shall automatically terminate and 0 of the execution of the present Subdivider's Agreement. 5 t the City enter into an additional Subdivider's Agreement for the 3. The Subdivider may, within the four year period referred to above, ,ithin the four years as noted above may be extended pursuant to the terms of of the development. Any remaining FEC's which have not been used said Subdivider'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. Any remaining KC'S not secured as provided herein shall expire within four years of the date of execution of that subsequent Subdivider's Agreement. 4. The Subdivider may request additional Subdivider's Agreements be entered into for subsequent phases. Any such agreement shall be subject to the same terms and conditions as stated in subsection 1, 2, and 3 above. 5. Notwithstanding any of the above provisions, all unused sewer I capacity granted to the Subdivider as referenced in this agreement shall automatically terminate and the allocation of said capacity shall cease on the 21st day of December, 2002. M. Lift Station Landscaping: As shown on Exhibit "D". SECTION VI. GUARANTEES The Subdivider shall guarantee the public roads and streets, sanitary sewers, surface water drainage improvements and all other improvements described or workmanship provided that such defects appear with a period of one year from In Section I, items A, 8, and D, hereof, against defects due to faulty materials the date of dedication and acceptance. The Subdivider shall pay for any damages guarantee shall not be a bar to any action the City might have for negligent to City property resulting from such faulty materials or workmanship. This workmanship or materials. Wisconsin law on negligence shall govern such situations. b a. SECTION VII. GENERRZ, INDEMNITY In addition to, and not to the exclusion or prejudice of, any provisions of this Agreement or documents incorporated herein by reference, the Subdivider defend and pay any and all reasonable legal, accounting, consulting, engineering shall indemnify and save harmless and agrees to accept tender of defense and to by the City, its officers, agents, employees and independent contractors growing and other expenses relating to the defense of any claim asserted or imposed upon out of this Agreement as stated above by any party or parties. The Subdivider shall also name as additional insureds on its general liability insurance the City, its officers, agents, employees and any independent contractors hired by the City to perform service as to this subdivision and give the City evidence of the same upon request by the City. SECTION VIII. AGREEMENT FOR BENEFIT OF PURCHASERS The Subdivider agrees 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 lot or parcel of land in the Subdivision. Further, 6 ng the work described on the attached exhibits. sale of any lots or parcel shall not release the Subdivider from SECTION IX. ACCEPTANCE OF WORK AND DEDICATION / As when the Subdivider shall have completed the improvements 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 and as required by applicable City ordinances and other applicable law and approved by the City Engineer, City Finance Committee and Common Council. SECTION X. EROSION CONTROL PLAN AND PERMIT The Subdivider shall submit to the City, an application for a 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). (Attached as Exhibit "I".) No construction or grading can begin I until said permit is received from the City. SECTION XI. CONSTRUCTION PERMITS, ETC. A. The City shall, within its authority, issue such permits, adopt such resolutions, and execute such documents as may be necessary to permit the Subdivider to construct the improvements in accordance with the plans and specifications called for by this agreement, upon the Subdivider's compliance with any deposit provisions or other requirements of the applicable ordinances or regulations; and the City shall cooperate with the Subdivider in obtaining authorities having jurisdiction in the premises. similar permits, resolutions and documents as may be necessary from other B. The City shall, as a condition of the Subdivider executing this Agreement, make available to the Subdivider or its nominee successors or assigns, building permits for the construction of single family residences subject to the provisions of this agreement and applicable rules, laws and ordinances. SECTION XII. BUILDING AND OCCUPANCY PERMITS: The Subdivider shall be allowed to construct no more than two model homes. It is expressly understood and agreed that no occupancy permits shall be issued either for the said model homes and no building permits or occupancy permits shall be issued for any other homes until the City's Engineers have determined that: A. The sanitary sewer and surface water drainage facilities required to serve such homes are connected with an operating system as required herein, and B. The Building Inspector verifies that the installation of the first lift of bituminous concrete base has been installed, and C. No building permits shall be issued prior to all signatures being 0 obtained on the deed restrictions. (Exhibit "F") cleaning of storm sewer system required (see Section I.B.4) E. video tape of sanitary sewer system required (see Section 1.D.4). F. All lot grades shall conform to the Master Grading Plan (see'section SECTION XIII. GENERAL CONDITIONS AND REGULATIONS ~ll the provisions of the City's Ordinances are incorporated herein by ,,f this Agreement as fully as if set forth at length herein. This Agreement and reference, and all such provisions shall bind the parties hereto and be a part 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 GUARANTEE file with the City a Letter of Credit setting forth terms and conditions approved by the City Attorney in the amount of S6gS. /as. CD as a guarantee that the required plans, improvements, and approvals will be completed by the Subdivider and his subcontractors no later than one year from the signing of a further guarantee that all obligations to the subcontractors for work on the this Agreement, except if another date is provided within this agreement and as Subdivision are satisfied. Prior to the execution of this Agreement by the City, the Subdivider shall SECTION XV. PARTIES BOUND The subdivider or its assignees shall be bound by the terms of this Agreement or any part herein as it applies to any phase of the development of the Subdivision. SECTION XVI. ASSIGNMENT The Subdivider shall not assign this Agreement without the written consent of the City. SECTION XVII. AMENDMENTS The City and the Subdivider, by mutual consent, may amend this agreement, by written agreement between the City and the Subdivider. a IN WITNESS WHEREOF, the Subdivider and City have caused this Agreement to d by their appropriate officers and their seals to be hereunto affixed in duplicate original counterparts on the date and year first written above. LAKEVIEW DEVELOPMENT PARTNERSHIP .. &%7,7.,& L r ELMER J. SOMMERS - PARTNER r-7" STATE OF WISCONSIN)." COUNTY OF WAUKESHAjaa Personally came before me this //?%day of 7%/& , 1994, the above named WILLIAM KROEGER, Partner, and ELMER J. SOMMERS, Partner, to me known to be such Partners of said corporation, and acknowledged that they executed the foregoing instrument as such Partners as the deed of said LAKEVIEW DEVELOPMENT PARTXF.SHIP. by its authority. / DAVID L. DeSELIS - MAYOR JEAN MARENDA - CLERK STATE OF WISCONSIN),, COUNTY OF WAUKESHA) named DAVID L. DeANGELIS, Mayor, and JEAN K. MARENDA, Clerk, of the above-named municipal corporation CITY OF MUSKEGO, to me known to be the persons who executed the foregoing instrument, and to me known to be such Mayor and Clerk of said municipal corporation, and acknowledged that they executed the foregoing instrument as such officers as the deed of said municipal corporation by its authority, and pursuant to the authorization by the Common Council from their meeting on thezday of /c/op~/7 , 1994. Personally came before me this// day of fldpc/ , 1994, the above 47 9 t' CERTIFICATION This is to certify that the foregoing is a true and correct copy of the Wisconsin, as entered into on the /I day of /nA<cH , 1994, by and between subdivider's Agreement for LAKEVIEW HIGHLANDS NORTH SUBDIVISION, Muskego, LAKEVIEW DEVELOPMENT PARTNERSHIP, and the CITY OF MUSKEGO, pursuant to the authorization by the Common Council for their meeting on the 9 day of h a&t+ , 1994. QJ4hv 5Y. WOL MARENDA - CITY CLERK MUSKEGO, WISCONSIN 10 EXHIBIT "A" Lakeview Highlands North, being a subdivision of the Northeast Quarter (E 1/4), Northwest Quarter (NW 1/4), Southwest Quarter (SW 1/4), and Southeast Quarter (SE 1/4) of the Southwest Quarter (SW 1/4) of Section 5, Town 5 North, Range 20 East, City of Muskego, Waukesha County, Wisconsin, bounded and described as follows: Commencing at the southeast corner of said Southwest Quarter (SW 1/4); thence South 88°50'19" West along the south line of said Southwest Quarter (SW 1/4) 321.070 feet to a point on the westerly right-of-way line of Racine Avenue (C.T.H. Y); thence North 02°59'38" West along said right-of-way line 312.387 feet; thence North 06°01'47" East along said right-of-way line 1205.000 feet to the northeast corner of Lakeview Highlands, a described; thence continuing North 06"01'47" East along said right-of-way line recorded subdivision, and the place of beginning of the lands hereinafter 711.354 feet; thence North 08"54'30" West along said right-of-way line 369.160 feet to a point on the southerly right-of-way line of Tans Drive; thence northwesterly 85.182 feet along said right-of-way line along the arc of a curve of radius 1959.860 feet, center lies to the north, chord of said arc bears North 84°41'41.5" West 85.176 feet; thence North 83°26'59" West along said right-of-way line 46.500 feet; thence northwesterly along said right-of-way line 137.497 feet along the arc of a curve of radius 1859.860 feet, center lies to the south, chord of said arc bears North 8S034'03.5" West 137.466 feet; thence South OOO49'43" East 207.800 feet; thence South 89°10'17" West 461.540 feet; thence North 00°49'43" West 227.000 feet to said southerly right-of-way line; thence South 89°10'17" West along said right-of-way line 870.754 feet; thence South 00°02'17" West 1321.529 feet; thence North 89°00'15" East 457.275 feet; feet to the northwest corner of said Lakeview Highlands; thence North 42O21'30" East along the north line of said Lakeview Highlands 120.648 feet; thence North 36O25'00" East along said north line 600.000 feet; thence North 46'40'34'' East along said north line 394.122 feet; thence North 79°09'50" East along said north line 411.175 feet to the place of beginning. Containing an area of 2,141,967 square feet (49.173 acres). thence South 0O007'13" West 679.737 feet; thence South 00°00'15" West 22.245 Dedicating the northerly 7.00 feet for public street purposes. EXHIBIT "J" Lands to be Dedicated to the City of Muskego as Parkland Lakeview Highlands North that part of Lakeview Highlands North, being a part of the Southeast Quarter puarter (NW 1/4) of the Southwest Quarter (SW 1/4) of Section 5, Town 5 North, (SE 1/4), southwest Quarter (SW 1/4), Northeast Quarter (NE 1/4), and Northwest i Range 20 East, City of Muskego, Waukesha County, Wisconsin, bounded and described as follows: Outlot 2 and the lands lying between the west line of outlot 1 and the creek, further described as follows: Beginning at the northwest west line of said Lakeview Highlands North 230.380 feet to the southwest corner corner of said Lakeview Highlands North; thence south OO"02'17" West along the of said Outlot 1; thence North 14O26'12" East along the west line of said Outlot 1, 238.788 feet to a point on the southerly right-of-way line of Tans Drive; thence South 89°10'17" West along said right-of-way line 59.351 feet to the place of beginning. Excepting therefrom the creek as shown on the final plat for the aforesaid Lakeview Highlands North. .~ 7001 w. Edgerton Avenue. Greenfield. WI 53220 * (414) 421-8200 Rudolph J. Talsky, President IRREVOCABLE STANDBY DOCUMENTARY CREDIT Credit No. 03-43000172 Amount: $688,125.00 March 11, 1994 Applicant: William Kroeger Elmer Sommers Lakeview Highlands North Muskego, WI 53150 Beneficiary: City of Muskego W182 58200 Racine Avenue Muskego, WI 53150 Dear Sirs: We hereby issue this irrevocable documentary credit in your favor which is available by beneficiary's draft(s) at sight drawn on Mitchell Savings Bank. Each Draft accompanying documents must state "Drawn under the Mitchell Savings Bank Documentary Credit No. 0 03-43000172. This Standby Credit is to provide a guarantee to the City of Muskego ror the performance of Lakeview Highlands North obligations under that certain agreement dated March 11, 1994 between the City of Muskego and the applicant. DRAFTS ARE TO BE ACCOMPANIED BY: A statement signed by the Mayor of the City of Muskego stating that Lakeview Highlands North 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. SPECIAL CONDITIONS: This Standby Credit will terminate on the 11th day of June, 1995 provided, however, Mitchell Savings Bank shall give written notice to the beneficiary of its intention to terminate this standby credit at ninety (90) days prior to the 11th day of June, 1995. After said date, this letter of credit can only terminate upon ninety (90) day written notice to the beneficiary. The Letter of Credit shall be interpreted under the laws of the State of Wisconsin, specifically Chapter 405 of the Wisconsin Statues. 0 Continued on Page Two (2) which is an integral part of this standby Credit. Southridge Office and Executive Offlces * 7001 W. Edgerton Avenue. Greenfleld. WI 53220 - 421.8200 Milwuukee Office 1605 W. Mitchell St. Mdwoukee WI 53204 - 645-5962 Mukwonago mice - 730 Fox Street (HW ES) Muhuonogo. WI 53149.363-3021 Franklin Office -Po00 W, Drexel Avenue Franklin, WI 53132 - 425.9000 MITCHELL SAVINGS BANK Page 2, An integral part of Standby Credit No.03-43000172 It is hereby agreed by all parties hereto that the reference to ffAgreementff is for identification purposes only and such reference shall not be construed in any manner require Mitchell Savings Bank to inquire into its terms and obligations. We encourage you that drafts drawn under and in compliance with the terms of this credit will be duly honored if presented 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 payments effected by us and/or for cancellation. Sincerely, MIRELL SAVINGS BANK 0 ‘Vice-president Bruce K. Andrich