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CCR19941258 AMENDED COMMON COUNCIL - CITY OF MUSKEG0 RESOLUTION #125-94 APPROVAL OF FINAL PLAT, SUBDIVIDER'S AGREEMENT AND LETTER OF CREDIT Kimberly Estates WHEREAS, a Final Plat was submitted on March 25, 1994 for the NE 1/4 of Section 18; and 23-lot and three outlots of Kimberly Estates Subdivision in the WHEREAS, the Preliminary Plat was approved in Resolution #215-93; 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 Kimberly Estates, as attached, and the Finance k Protection, Waukesha County Park and Planning, any required 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 Kimberly Estates, 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 Kimberly Estates, as attached, is hereby approved subject to approval of the City Attorney, City Engineer, and Public Works Committee 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. Resolution #125-94 BE IT FURTHER RESOLVED that the Subdivider's Agreement and Letter of Credit are only approved contingent upon all revisions being incorporated into said documents as recommended by the City Attorney, Public Works Committee, and Finance Committee. BE IT FURTHER RESOLVED that the deferral of all sewer and water assessments on this property will end upon the City's execution of the Final Plat documents. BE IT FURTHER RESOLVED that the Mayor and Clerk are hereby City. authorized to sign the necessary documents in the name of the DATED THIS 24TH DAY OF MAY , 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 City of Muskego. Resolution #125-94 which was adopted by the Common Council of the a 5/94 jmb SUBDIVIDER'S AGREEMENT This Agreement, made this day of , 1994, by and between Carol A. Yaeger, Jeffrey A. Yaeger, and Kimberly M. Wutke, the "Subdivider" and the City of Muskego, a municipal corporation of the State of Wisconsin, located in Waukesha County, hereinafter called the "City. " WITNESSETH a proposed Final Plat for Kimberly Estates, a boundary description WHEREAS, the Subdivider has submitted for approval by the City 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 I 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 Developer make and install certain public may require dedication of public streets, alleys or other ways improvements reasonably necessary for the Subdivision and further, within the Subdivision, to be conditioned upon the construction of cost to said municipality; and said improvements according to municipal specifications without 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, Subdivider's plans and specifications for subdivision improvements, and the City's Plan Commission and Common Council have duly approved the final plat of Kimberly Estates, contingent upon the execution and performance of this agreement by the Subdivider. contained, the parties hereto agree as follows: NOW, THEREFORE, in consideration of the covenants herein Revised 05-24-94 -1- KIMBERLY ESTATES PAGE 2 SUBDIVIDER'S AGREEMENT SECTION I. IHPROVEMENTS: Subdivider, entirely at its expense, shall: A. Roads and Streets: 1. Grade and improve all roads and streets in Kimberly Estates 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. 2. Paving of "Pedestrian Way" : As shown on Exhibit "A" shall be completed according to City Standards. B. STORM AND SURFACE WATER DRAINAGE AND MASTER GRADING PLAN: 1. 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 Subdivider to install additional storm drainage and erosion control measures prior to acceptance of improvements by the City of Muskego. 2. The CITY shall furnish to .the Subdivider 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 3. Grade and improve all lots in conformance with the therein. Master Grading Plan attached hereto and made a part hereof and marked Exhibit "C". topsoil and seed. Establish dense vegetation. All Restore with grades must be verified by Developer's Engineer All swales and ditches must be graded to three (3) after completion with the following tolerances: or minus two (2) inches. Overall lot grades shall inches below finish grade with a tolerance of plus with the house pads from finish grade to minus one be graded from finish grade to minus six (6) inches (1) foot. All lot corners shall be graded to finish grade with a tolerance of plus or minus two (2) inches. The requirement of this paragraph shall be complied with prior to the issuance of any building permits by the City, excpeting model homes. (See Section XI1.F). 0 SUBDIVIDER'S AGREEMENT KIMBERLY ESTATES PAGE 3 l e 4. At Subdivider's expense, and prior to acceptance of improvements and the issuance of building permits by the City (not including model homes which are governed by separate agreement), all storm sewers shall be cleaned (See Section XI1.D). C . WATER: 1. Subdivider shall construct, install, furnish, and provide a complete system of water supply and distribution, throughout the entire Subdivision, as approved by the City Engineer and in accordance with the plans and specifications attached hereto built plans shall be paid by the Subdivider. as Exhibit "D". The cost of the preparation of as- 2. The CITY shall furnish the Subdivider such permits or easement as may be required in any public street or public property to enter upon and install the 3. Any water used from hydrants shall be metered and a above described water'system therein. 4. Subdivider shall complete, to the satisfaction of permit taken out through the CITY OF MUSKEGO. the City Engineers, any remaining punch list items concerning the water system, prior to connection of any residence to the water systems. D. SANITARY SEWER: 1. Subdivider shall construct, install, furnish, and provide a complete sanitary sewage collection system throughout the entire Subdivision, as Utilities Conunittee all in accordance with the approved by the City Engineer and the Public plans, specifications and drawings attached hereto built plans shall be paid by the Subdivider. as Exhibit "E". The cost of the preparation of as- 2. The CITY shall furnish the Subdivider 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. KIMBERLY ESTATES SUBDIVIDER'S AGREEMENT PAGE 4 3. Subdivider 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 Subdivider shall televise the sanitary sewer City Engineer, and supply video tape to City of system, repair any defects as determined by the Muskego, and clean all sewer lines prior to the homes and acceptance of improvements by the City issuance of building permits, except for model (See Section XI1.E). E. LANDSCAPING: 1. Subdivider shall preserve existing trees outside of the public right-of-way wherever practical, when installing the Subdivision improvements. 2. Subdivider shall remove and lawfully dispose of: (a) all old barns, outbuildings; (b) destroyed trees, brush, tree trunks, shrubs and other natural 3. Subdivider shall plant street trees in accordance growth; (c) and all rubbish. with Section 18.13 of the Muskego Land Division Ordinance and Resolution #P.C. 101-93. F. EROSION CONTROL MEASURES 1. Subdivider shall construct, install, furnish and provide a complete system of Erosion Control Devices or measures in specified areas of the Subdivision, as approved by the City Engineer and the Building Inspection Department and in accordance with the plans and specifications with Chapter 29 of the City's Municipal Code. attached hereto as Exhibit "F" also in accordance 2. Install silt fencing in conformance with the approved plans prior to the grading and construction work. Such fences shall be maintained by the Subdivider until such time as turf cover is established in the Subdivision. No grading shall occur without a two (2) day notice to the City. c KIMBERLY ESTATES PAGE 5 SUBDIVIDER'S AGREEMENT 0 3. Mulching and seeding of all disturbed areas to comply with Chapter 29. 4. Subdivider is responsible for obtaining Erosion Control Permits for the site for controlling erosion on the site and each individual lot owner is responsible for obtaining a separate erosion disturbed and are responsible for controlling control permit at the time any vegetation is 5. Six Thousand Dollars ($6,000.00) from the Letter of erosion on their lot. 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 Six Thousand Dollars ($6,000.00) portion of the Letter of Credit is allowable upon verification of fifty percent (50%) of disturbed areas are vegetated. written notification by the Building Inspection If, upon a Department of non-compliance of Chapter 29, the terms are not corrected within five (5) days, the City may utilize the Six Thousand Dollars ($6,000.00) portion of the Letter of Credit to time, additional funds may be required in the correct the terms of non-conformance. From time to maintenance as deemed appropriate by the Developer's Deposit to cover the cost of Department. SECTION 11. TIME OF COMPLETION OF IMPROVEMENTS The improvements set forth in Section I above shall be completed by the Subdivider 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 homes have been completed or 36 months after the installation of the first lift of asphalt, whichever comes first. The Letter of Credit shall be increased annually by the cost of living factor published by the Federal Government. KIMBERLY ESTATES SUBDIVIDER'S AGREEMENT PAGE 6 within twelve (12) months of the date of this agreement, the If the final surface course of pavement is not completed 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, Subdivider shall, without charge to the CITY, upon completion of the above described improvements, unconditionally give, grant, convey and fully dedicate the roads and streets, sanitary sewers, watermains, storm and surface water drainage facilities (excluding those facilities which are to be owned and maintained by the Homeowners Association) as illustrated on Exhibit "A" and as described in the deed restrictions, to the CITY, its successors and together with and including, 'without limitation because of assigns, forever, free and clear of all encumbrances whatever enumeration, any and all land, buildings, structures, mains, and hereditaments which may in any way be a part of or pertain to conduits, pipes lines, plant, machinery, equipment, appurtenances such improvements and together with any and all necessary easements for access thereto. The CITY will be receptive to the dedications of said improvements, except roads and surface water drainage facilities, after the first lift of bituminous concrete pavement has been installed, when all said utilities have been completed and approved by the City Engineers and other agencies as applicable. SECTION IV. INSPECTIONS AND ADMINISTRATION FEES: signing of the Agreement, in accordance with Section 18.10 of the Subdivider shall pay and reimburse the City in advance of the CITY'S Land Division Ordinance and 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; construction is in compliance with the applicable plans, supervision, inspection to insure that specifications, regulations and ordinances; legal, administrative and fiscal work undertaken to assure and implement such compliance. 0 KIMBERLY ESTATES PAGE 7 SUBDIVIDER’S AGREEMENT ,o SECTION V. HISCELLAWEOUS REOUIREKENTS: The Subdivider shall: A. Easements: Provide any easements on Subdivider‘s land deemed necessary by the City Engineers prior to the Final Plat 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 B. Street Siqns: Reimburse the CITY for the cost of all zoning for such lots. 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 by Carol A. Yaeger, Jeffrey A. Yaeger and Kimberly M. Wutke, in Kimberly Estates, in the form attached hereto, made a part hereof and marked Exhibit “G”. restrictions shall contain the following language: The deed his lot in accordance with the Master Grading Plan on “Each lot owner must strictly adhere to and finish grade file in the office of the Subdivider and the office of the City Building Inspector unless a change is 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, forthe purpose of inspection, maintenance, correction of any drainage conditions and the property owner is responsible for the cost of the same.” F. 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. 0 KIMBERLY ESTATES PAGE 8 SUBDIVIDER'S AGREEMENT G. H. I. J. K. plat so that no structure of any kind which exceeds a Siqht Distances: Restricts lots on the face of the 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. the Plumbing Inspector of the CITY a copy of storm drains Sump Pump Connections: The Subdivider shall furnish to made part hereof and marked Exhibit "H" showing the and clean out locations in the form attached hereto and 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. Street Liqhts: Install street lights in accordance with Section 18.0911 of the City's Land Division Ordinance. Permits: Submit to the CITY valid copies of all agency permits including the Wisconsin D.N.R. and U.S. Army prior to any preconstruction meeting. Corps of Engineers before construction commences and pursuant to the provision of Chapter 21 of the City Code, Sewer Extension Permits: (a) The City of Muskego has, Equivalent Connections (REC's) as defined in Section granted the Subdivider twenty-six (26) Residential development of all lands contemplated by the Subdivider 21.04 (22) of the City's Sewer Utility Ordinance, for the phases. Subdivider is using twenty-three (23) of the in all phases of this development including future above-noted REC's in the phase of development which is the subject of this Subdivider'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 three (3) REC's of capacity for future phases of the development. (b) The remaining three (3) REC's of capacity shall automatically terminate and 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 (4) years of the execution of the present Subdivider's Agreement. KIMBERLY ESTATES PAGE 9 SUBDIVIDER'S AGREEMENT referred to above, request that the City enter into an (c) The Subdivider may, within the four year period additional Subdivider'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 Subdivider's Agreement provided, however, that the installation of sewer extensions must be secured as provided in this agreement of the City, upon other security deemed appropriate by or when not prohibited by other ordinances or resolutions the City and under terms and conditions satisfactory to the City and in accord with the City's ordinances, resolutions and policies. Any remaining REC's not of the date of execution of that subsequent Subdivider's secured as provided herein shall expire within four years Agreement. (d) The Subdivider may request additional Subdivider'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. unused sewer capacity granted to the Subdivider as (e) Notwithstanding any of the above provisions, all referenced in this agreement shall automatically terminate and the allocation of said capacity shall cease on the 21st day of December, 2002. L. Pasadena Drive: Stub ends of Pasadena Drive shall not be temporary cul-de-sacs. This stipulation is allowed with required to be constructed to contain the provisions of the understanding that no access shall be permitted to Pasadena Drive from adjacent lots. It is also understood that the City shall not engage in snow removal activity on subject stub ends until lands to the North and South of said stub ends develop. KIMBERLY ESTATES PAGE 10 SUBDIVIDER'S AGREEMENT SECTION VI. GUARANTEES: The Subdivider shall guarantee the public roads and streets, and all other improvements described in Section I, Items A, B, C, sanitary sewers, watermains, surface water drainage improvements provided that such defects appear within a period of one (1) year & D, hereof, against defects due to faulty materials or workmanship pay for any damages to CITY property resulting from such faulty from the date of dedication and acceptance. The Subdivider shall materials or workmanship. This guarantee shall not be a bar to any action the CITY might have for negligent workmanship or materials. Wisconsin law on negligence shall govern such situation. 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, Subdivider shall indemnify and save harmless, and agrees 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 imposed upon the CITY, its officers, agents, and employees, and independent party or parties. The Subdivider shall also name as additional contractors growing out of this agreement as stated above by any 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 Subdivision and give the CITY evidence of the same upon request by the CITY. SECTION VIII. AGREEMENT FOR BENEFIT OF PURCHASERS: The Subdivider 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 lot or parcel of land in the Subdivision. Further, that the sale of any lot or parcel shall not release the Subdivider from completing the work on the attached Exhibits. SUBDIVIDER'S AGREEMENT KIMBERLY ESTATES PAGE 11 SECTION IX. ACCEPTANCE OF WORK AND DEDICATION: As and 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: Land Disturbing Permit and an Erosion Control Plan in accordance The Subdivider shall submit to the CITY, an application for a with the requirements of Section 29.06 of the CITY'S Erosion 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 Subdivider to construct the improvements in accordance with the plans and specifications called for by this agreement, upon 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 similar permits, resolutions and documents as may be necessary from other authorities having jurisdiction in the premises. this Agreement, make available to the Subdivider or their nominee 2. The CITY shall, as a condition of the Subdivider executing successors or assigns, building permits for the construction of single family residences subject to the provision of Section XII. SECTION XII. BUILDING AND OCCUPANCY PERMITS: The Subdivider shall be allowed to construct no more than two (2) 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, water and surface water drainage facilities required to serve such homes are connected with an operational system as required herein, and B. The Building Inspector verifies that the pavement has been installed. installation of the bituminous concrete base course C. No Building Permits shall be issued prior to all signatures being obtained on the Deed Restrictions, (Exhibit "G" ) . D. Cleaning of storm sewer system completed (See Section I.B.4). E. Video tape of sanitary sewer system completed (See Section I.D.4). F. All lot grades shall conform to the Master Grading Plan (See Section I.B.3). SECTION XIII. GENERAL CONDITIONS AND REGULATIONS: herein by reference, and all such provisions shall bind the parties All the provisions of the CITY'S ordinances are incorporated hereto and be a part of this Agreement a6 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 GUARANTEE: Prior to the execution of this agreement by the CITY, the Subdivider shall file with the CITY a Letter of Credit setting forth terms and conditions approved by the CITY Attorney in the amount of .$ as a guarantee that the required plans, improvements, and approvals will be completed by the Subdivider 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 Subdivision are satisfied. KIMBERLY ESTATES SUBDIVIDER'S AGREEMENT PAGE 13 SECTION XV. PARTIES BOUND: Subdivider 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 of the Subdivision. SECTION XVI. ASSIGRHENT: Subdivider shall not assign this Agreement without the written consent of the CITY. SECTION XVII. AMENDMENTS: agreement, by written agreement between the City and the The City and the Subdivider, by mutual consent, may amend this Subdivider. 0 IN WITNESS HEREOF, Subdivider and CITY have caused this Agreement 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. Subdivider: By : Carol A. Yaeger By : Jeffrey A. Yaeger -1 . Kimberly M. Wutke '0 KIMBERLY ESTATES PAGE 14 SUBDIVIDER'S AGREEMENT CITY OF MUSKEWJ: By : David L. DeAngelis, Mayor By : Jean Marenda, City Clerk STATE OF WISCONSIN ) ss WAUKESHA COUNTY ) PERSONALLY came before me this I 1994, Carol A. Yaeger, Jeffrey A. Yaeger and Kimberly M. Wutke, to day of me known to be the persons who executed the foregoing instrument and acknowledged the same. Notary Public-State of Wisconsin My Commission Expires WAUKESHA COUNTY STATE OF WISCONSIN ) ss ) PERSONALLY came before me this day of I 1994, the above named David L. DeAnqelis, Mavor, and Jean Marenda. CITY Clerk, of the above -named kunicipai 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 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 the , 1994. day of ,@ My Commission Expires Notary Public-State of Wisconsin SUBDIVIDER'S AGREEMENT KIMBERLY ESTATES PAGE 15 CERTIFICATION This is to certify that the foregoing is a true and correct copy of the Subdivider's Agreement for Kimberly Estates Subdivision, Muskego, Wisconsin, as entered into on the day of , 1994, by and between Carol A. Yaeger, Jeffrey A. Yaeger, and Kimberly M. Wutke and the CITY OF MUSKEGO, meeting on the pursuant to the authorization by the Common Council from their day of , 1994. Jean Marenda, City Clerk Clerk of Muskego, Wisconsin 0 SUBDIVIDER’S AGREEMENT KIMBERLY ESTATES LIST OF EXHIBITS KIMBERLY ESTATES EXHIBIT EXHIBIT EXHIBIT EXHIBIT EXHIBIT EXHIBIT EXHIBIT EXHIBIT A B C D E F G H BOUNDARY DESCRIPTION & FINAL PLAT GRADING PLAN STORM SEWER PLAN WATER PLANS SANITARY SEWER EROSION CONTROL PLAN DEED RESTRICTIONS SUMP PUMP DRAINS & CLEANOUTS 05/18/94 08: 39 CITIZENS BRNK / CBM INS. " I P. 01 Irrovoaable Btandby Dooumontary crodit Credit No. VN5-94-01 Amount: Date: Applicant: Lawrence Yaeger Ktr\.bzr\y M' U ++ ke W136 S6597 Conrad Ct Carol Yaeger Muskego WI 53150 Beneficiary: City of Muskego Muskego WI 53150 W182 68200 racine Ave Dear Sirs: We hereby issue this irrevocable documentary credit in your favor which is amilable by beneficiary's draft(6) at sight drawn on the Citizens Bank of Mukwonago. Each Draft accompanying d01:Uments must state ''Drawn Under The Citizens Bank of Mukwonago Documentary Credit No. This Standby Credit il; to provide a guarantee to the City of Muskego for the performance of Lawrence & Carol Yaeger's obligations under that certain agreement dated , 1994 between the City of Muskego and applicant. VN5-94-01. Draft6 Are To Be Aacocsganiod By: A statement signed by the Ma the City of Muskego stating that Lawrence & Caro er have failed to complete the construction of vision improvements in accordance with said Agreemeht, Said statement shall set Muskego to complete such improvements. forth the estimated amount necassary for the City of Special conditianr: This Standby Credit will terminate on the day of Fiukwonaao shalralve written notice to the beneficiarv Of , 19 provided, however, the Cmens-BanX of it's intention to terminate this Standby Credit~~at ninety Continued on page two (2) which is an integral part of this Standby Credit. Page 2, An integral )?art of Standby Credit No. VN5-94-01 said da e, thie lsttlar Tcredit can only terznate won (90) da e prior to the x day of , 19 . After ninety (go) daye written notice to the beneficiary. " reference to ltAgreemlantll ie for identification urpoees It is hereby agreed 1oy all parties hereto that the only and such refereme shall not be oonetrued f n any manner to require The Citizens Bank of Mukwonago to inquire into it le te;ms and obligations. We with you that drafts drawn under and in compliance with the ':erme of this credit will be duly honored if preeented on or before the expiry date. This with any drawings he:eeunder for our endorsement of any original Standby Credit muet ba eubmitted to us together payments effected by UB and/or for cancellation. V Very Truly Youre, The Citizens Bank of Mukwonago BY John Schmltz - 0r::icer . DALE W, ARCH2 DONALD s. MOLTER. JR, JOHN P. HAW. H, 5TANLEY RIFFLE. COUA MHHISSIOHCP COURlCDMMI9IIOIIC~ ERIC 0, LCHLICT~R RICK 0. TRINDL - FAXED TOTAL PAGES: 3. Xr. Matthew Sadowski Director, Planning & Zoning CITY OF MUSKEG0 Post Office Box 903 Muskego, Wisconsin 53150 Re: Kimberlv Estates Sub~l~~:~q. EEEUVE PLAN DEPARTMENT a Dear I just received a faxed copy of the florm cl: the Letter of Credit concerning the above macisr. The form of Lhs Letter of Credit appears to be satisfactory except for the followirq: 1. Obviously, the amount must.. be fi.11.itd 5.n. 2. Obviously, ths correct dakre, at 1c:ast one year and ninety days after eniry of t,'nc? Subdivsiit?l~'S Agreement, must be filled in. 3. In the second to the last paragraph, the second word should be "engagel' instead of l'encouraye" . 4. As to the last paragraph added by the Bank, 1 do not like to agree to the first sentence as this is Rot our practice. As to the same paragraph, I will nst approve the second appears to contradict earlier por,;i.ons of the Letter of sentence as it appears not to pro,;ect the City's rights and Credit. As to the updated version of the Subdi.vider's Agreement I received on May 23, 1994, have the additional, corrections been made as we discussed? 0 Sinrxre3.y, , b.L. -. .-. rjonald S Molter, Jr. . i FAXED TOTAL PAGES: 1 Mr. Matthew Sadowski Director, Planning & Zoning CITY OF MUSKEG0 Post Office Box 903 Muskego, Wisconsin 53150 Re: Kirnberlv Estates Sx~divisi~.~: Dear Matt: Adding to our fax of Eay 24, 199.3 a:: to the proposed Letter of Credit, it should also be corrected to j.n(;Ludc tix: name ot the other person signing the Subdivider's Agreernent, whic;h f.s Kimiierly M. Wutke. Si.ncere1:;. DSM/pw cc: Mayor David L. De Azgelis