CCR2003101".
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COMMON COUNCIL - CITY OF MUSKEGO
RESOLUTION #101-2003
APPROVAL OF DEVELOPER'S AGREEMENT AND LETTER OF CREDIT
MRED (Janesville/Racine) ASSOCIATES
Walgreens (Racine Avenue)
WHEREAS, A Developer's Agreement and Letter of Credit have been received from
MRED (Janesville/Racine) Associates for the Walgreens development on Racine
Avenue; and
WHEREAS, The Finance Committee has reviewed the documentation and has
recommended approval subject to review and approval of the Stormwater plans by the
Public Works Committee,
NOW, THEREFORE, BE IT FURTHER RESOLVED That the Common Council of the
City of Muskego, upon the recommendation of the Finance Committee, does hereby
approve the Developer's Agreement and Letter of Credit, as attached, for MRED
Associates for the Walgreens development on Racine Avenue subject to approval of
the City Attorney, Public Works Committee, and City Engineer, 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.
BE IT FURTHER RESOLVED That the Mayor and Clerk-Treasurer are hereby
authorized to sign the documents in the name of the City, with any necessary technical
corrections to be made as requested by the City Attorney.
DATED THIS 22nd DAY OF April ,2003.
SPONSORED BY:
FINANCE COMMITTEE
Ald. Rick Petfalski
Ald. Patrick Patterson
Ald. Nancy C. Salentine
This is to certify that this is a true and accurate copy of Resolution #101-2003 which
was adopted by the Common Council of the City of Muskego.
(21 ?1~/Þ7~' ~ Clerk-Treasurer /
4/03jmb
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MRED (JANESVILLE / RACINE) ASSOCIATES. CITY OF MUSKEGO
WALGREENS (RACINE AVENUE) DEVELOPER'S AGREEMENT
..... This Agreement, made this:....- day of ,2003 by and between MRED(Janesvilie / Racine)
.~ Associates, A Wisconsin Limited Partnership, (the "Developer"), and the City of Muskego, a municipal
corporation of the State of Wisconsin, located in Waukesha County, (the "City").
WITNESSETH
WHEREAS, the Developer has submitted for approval by the City a Certified Survey Map for lands
described as:
All that part of the Northeast 1/4 of Section 17 and the Northwest 1/4 of Section 16, Township 5 North, Range
20 East, in the City of Muskego, Waukesha County, Wisconsin, bounded and described as follows:
Commencing at the Northeast corner of said Section 17; thence S.88018'33"W.. 115.08 feet along the North
line of the Northeast 1/4 of said Section 17 to the now center line of Janesville Road; thence S.37'58'58"W.,
353.25 feet along the center line of Janesville Road; thence S.52001 '02"E., 60.00 feet to the proposed Easterly
right-of-way Janesville Road and the point of real beginning of lands to be described; thence along the
proposed Easterly right-of-way Janesville Road, N.37O 58'58"E., 357.66 feet; thence N.86'43'18"E., 37.82 feet
to the proposed Westerly right-of-way line of Racine Avenue, said proposed We~terly right-of-way line of
Racine Avenue is 55.00 feet Westerly and parallel to the centerline of Racine Avenue; thence along the
proposed Westerly right-of-way line of Racine Avenue, S.38039'59"W.. 45.53 feet to the East line of the
Northeast 1/4 of said Section 17; thence along the East line of the Northeast 1/4 of said Section 17,
S.00'50'07"E., 88.04 feet to the Westerly right-of-way line of Racine Avenue, said Westerly right-of-way line is
109.00 feet Westerly and parallel to the centerline of Racine Avenue; thence along the Westerly right-of-way
line of Racine Avenue, S. 38' 39'59"E., 153.00 feet; thence S.51'20'01"W., 118.81 feet to the West line of the
Northwest 1/4 of said Section 16; thence along the West line of the Northwest 1/4 of said Section 16,
S.00050'07"E., 164.68 feet; thence S.51'59'41"E., 169.45 feet to the Northerly line of lands owner by the
Wisconsin Electric Power Company, said lands are described in Volume 160, Page 77 as recorded in the
. Waukesha county Register of Deeds Office; thence along the Northerly line of lands owner by the Wisconsin
Electric Power Company; S.54006'42"W., 208.32 feet to the Northerly line of lands described in Reel 527,
Image 858 as recorded in the Waukesha County Register of Deeds Office; thence along the Northerly line,
N.52'01'02"W., 140.24 feet; thence along a line parallel to the centerline of Janesville Road, N.37'58'58"E.,
175.93 feet; thence along a line parallel to said Northerly line of lands described in Reel 527, Image 858,
N.52'01'02"W., 324.00 feet to the point of real beginning. Said parcel contains 124,938 square feet or 2.868
total net acres, more or less.
And
All that part of the Northeast y., of Section 17, Township 5 North, Range 20 East, in the City of Muskego,
Waukesha County, Wisconsin, bounded and described as follows: Commencing at the Northeast corner of
said Section 17; thence S.88018'33"W., 115.08 feet along the North line of the Northeast 1/4 of said Section
17 to the now center line of Janesville Road; thence S.37058'58"W., 353.25 feet along the center line of
Janesville Road; thence S.52001'02"E., 60.00 feet to the proposed Easterly right-of-way Janesville Road and
the point of real beginning, of lands to be described; thence along the proposed Easterly right-of-way Janesville
Road, S.37"58'58"W., 175.93 feet to the Northerly line of lands described in Reel 527, Image 858 as recorded
in the Waukesha County Register of Deeds Office; thence along the Northerly line, S.52001'02"E., 323.92 feet;
thence along a line parallel to the centerline of Janesville Road, N.37'58'58"E., 175.93 feet; thence along a
line parallel to the Northerly line of lands described in Reel 527, Image 858 as recorded in the Waukesha
County Register of Deeds Office, N.52001'02"W., 324.00 feet to the point of real beginning. Said parcel
contains 57,001 square feet or 1.309 total net acres, more or less.
'
Herein referred to as the "Property", and a Certified Survey Map which includes said Property 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; and
.WHEREAS, Chapter 18 of the Municipal Code provides that as a condition of approval, the governing
body of the City may require that the Developer make and install certain public improvements
reasonably necessary for the Property and further, may require construction of said improvements
according to municipal specifications without cost to said municipality; and
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MRED (Janesvilie/Racine) Associates Agreement
WHEREAS, The City's Engineers, Public Works Committee, and Finance Committee have duly
approved, contingent of certain other approvals, Developer's plans and specifications for Property
improvements, and the City's Plan Commission and Common Council have duly approved the Certified
Survey Maps of the Property contingent in part 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 : DEVELOPMENT OF THE PROPERTY
1. The Property consists of:
a) One parcel for Walgreens and shared stormwater management facilities, to be developed and
constructed in accordance with the provisions of the B-2 Local Service Center zoning district and
an approved Building Site and Operation Plan.
b) One parcel for future commercial development to be developed and constructed in acCOrda!lCe
with the provisions of the B-2 Local Service Center zoning. district and 'an approved Building Site
and Operation Plan. .' .
2. Developer shall entirely at its expense:
a) Concurrent with the execution of this Agreement tender an Irrevocable Standby Letter of Credit in
the amount required herein for the construction of improvements required by this Agreement. No
construction activity may commence until this Agreement has been executed and recorded, and
the Letter of Credit has been tendered. .
b) Within six (6) months of approval of this Agreement by the Common Council, the Developer shall
execute this Agreement, shall cause this Agreement to be recorded at the Waukesha County
Register of Deeds, and shall provide City with evidence of recording.
c) Place and install monuments required by State Statute or City Ordinance.
SECTION II : PHASING
1. Developer and City agree that the installation of public and private improvements described in
Section III shall occur in one phase.
SECTION III: IMPROVEMENTS
Developer shall entirely at its expense:
A. PUBLIC ROADS AND STREETS:
1. Furnish and install without expense to City or Waukesha County any additional traffic lanes and
turning lanes which may be determined to be necessary by the Waukesha County Department of
Transportation in conjunction with of the execution of this Agreement.
2. Restore any damage to existing pavement, curb, gutter, and landscaping which may result from
construction of improvements. .
3. Reimburse the City for the cost of all street signs, street lights, traffic signs and posts, including the
cost of their installation.
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MRED (Janesvilie/Raclne) Associates Agreement
B. STORM AND SURFACE WATER DRAINAGE AND MASTER GRADING PLAN:
.1. Construct, install, furnish and provide on site facilities, on site grading, and off-site grading within
abutting rights-of-way as approved by the Director of Engineering and Building and Public Works
Committee on. ..'\-,ê; 'i;! ';:;;"';);4Q.Q~ for storm and surface water drainage throughout the entire
Property, , all in accordance with the plans and specifications on file in the Building and Engineering
Department. The City retains the right to require the Developer to install at its cost additional storm
drainage and erosion control measures prior to acceptance of improvements by the City of Muskego.
2. Grade and improve the Property in conformance with the Master Grading Plan as approved by the
Director of Engineering and Building and Public Works Committee on . '. , 2003 all in
accordance with the plans and specifications on file in the City Building and Engineering Department.
Restore with topsoil and seed. Establish dense vegetation.
3. Clean all Storm Sewers prior to the issuance of building permits by the City.
4. Execute and record a Retention Pond Maintenance Agreement and Stormwater Management Plan in
the form attached hereto. The document shall be incorporated herein and made part hereof, as
"approved by the-Pirectou;>f Engineering and Building and Public Works Gommittee on~ 2003
relating to privately owned storm wãtffi-appu nances, and provide proof of recording prior to the
issuance of building permits by the City.
'
5. Keep and maintain all storm sewers, retention or detention ponds, and surface water-drainage
features which are outside of the rights-of-way in perpetuity, as provided for in the Retention Pond
Maintenance Agreements.
C. LANDSCAPING:
.
1. Preserve existing trees outside of the public right-of-way to the maximum extent possible, when
installing the improvements. Replace trees in accordance with plans to be approved by the Plan
Commission.
2. Remove and lawfully, dispose of destroyed structures, trees, brush, tree trunks, shrubs and other
natural growth, and all rubbish.
3. Plant street trees without cost to City in accordance with Section 18.60 of the Muskego Land Division
Ordinance and the adopted Urban Forestry Management Plan and Urban Forestry Strategic Plan
dated March 28, 2000 and adopted by the Common Council on July 11, 2000 and in accordance with
plans to be approved by the Planning Director and Plan Commission prior to the release of
occupancy permits.
D. EROSION CONTROL MEASURES:
1. Submit to the City, an application for a Land Disturbing Permit in accordance with the Erosion
Control Plan as approved in accordance with the requirements of Section 29.06 of the City's Erosion
Control Ordinance by the Diredor of Engineering and Building and Public Works Committee 00,-,--, 2003 in accordance with the plans and specifications on file in the Building arid Engineering
Department.
.
2. Construct, install, furnish and provide without cost to City, a complete system of Erosion Control
Devices or measures in specified areas of the Planned Development District, in accordance with the
Erosion Control Plan as approved by the Director of Engineering and Building and Public Works
Committee on '. ,.2003 in accordance with the plans and specifications on file in the City
Building and Engineering Department. No construction or grading shall begin until said permit is
issued by the City, and no grading shall occur without a two (2) day prior notice to the City.
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MREO (Janesvilie/Racine) Associates Agreement
3. Install silt fencing in conformance with the approved Erosion Control Plan prior to the grading and
construction work. Such fences shall be maintained by the Developer until such time as vegetative
cover is established on the Property. Install mulching and seeding of all disturbed areas to comply
with Municipal Code Chapter 29.
.
4. Ensure that each individual/ot owner obtains a separate erosion control permit at any time that any
vegetation is disturbed, and insure that each individual lot owner is responsible for controlling erosion
on their subject lot.
E. RECREATION TRAILS:
1. Construct, install, furnish, and provide without cost to City, a complete recreation trail along the south
right-of-way line of Janesville Road abutting the Property and connecting to the recreation trails
constructed in the Racine Avenue right-of-way by the City. Plans and Specifications are to be
approved by the Director of Engineering and Building, and the Public Works Committee on prior to
release of Building Permits.
SECTION IV: TIME OF COMPLETION OF IMPROVEMENTS -
The improvements set forth in Section III shall be completed by the Developer within one (1) year from
signing of this--Agreemênt ır except if an earlier date is provided for in the Agreement.
If the City receives notice of the intention to terminate the Letter of Credit prior to completion of any
improvement, 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 V: AS-BUILT CONSTRUCTION PLANS AND DIGITAL FILES .
Developer authorizes the City to prepare all necessary as-built construction plans for improvements to
be dedicated to the City. Developer agrees to reimburse City for all costs incurred in the preparation
and distribution of as-built data, including collection of data, revisions to construction documents and
upload of data to City's Geographic Information System, and City may utilize Developer's Developers
Deposit account for all charges related hereto.
Developer authorizes the City to convert digital files submitted by Developer pursuant to Section
18.32(3)(1) of the Municipal Code of the City of Muskego and Common Council Resolution No. 196-2002
to any format deemed necessary by City. Developer agrees to reimburse City for all costs incurred in
said conversions and City may utilize Developer's Developers Deposit account for all charges related
hereto.
SECTION VI : DEDICATION AND ACCEPTANCE OF IMPROVEMENTS
Subject to all of the other provisions of this agreement, Developer shall, without charge to the City, upon
completion of the above described improvements, unconditionally give, grant, convey and fully dedicate
the sanitary sewer and water main laterals located between the main and the property line, and
recreation trails, to the City, its successors and assigns, forever, free and clear of all encumbrances
(except those encumbrances that may be acceptable to the City) whatever together with and including,
without limitation because of enumeration, any and all land, buildings, structures, mains, conduits, pipes
lines, plant, 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.
Dedication shall not constitute acceptance of any improvement by the City. The City shall not accept the.
dedication of any improvements which do not fully comply with City standards and specifications. Claims
of financial hardship by the Developer shall not be considered a reason for the City to accept
substandard materials or work.
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MRED (Janesvilie/Racine) Associates Agreement
At such time as all improvements are completed and acceptable as called for under this Agreement, and
. all approvals have been received from regulatory agencies, such improvements shall be accepted by the
City by separate Resolution. The Resolution of Acceptance shall be recorded with the Waukesha
County Register of Deeds.
The City shall have the right to connect to or integrate other facilities with the improvements provided
herein without payment, award, or consent required of the Developer.
SECTION VII: INSPECTION AND ADMINISTRATIONS FEES
Developer shall pay and reimburse the City in advance of the signing of the Agreement, in accordance
with Section 18.14 of the Land Division Ordinance and Ordinance No. 909, 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 III,
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 !)Ians, specifications, regulations and ordinal9ces; legal, administrative
and fiscal work undertaken to assure arid implement such compliance. Failure to payor 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 VIII : MISCELLANEOUS REQUIREMENTS
The Developer shall:
1 Easements: Provide any easements on Developer's land deemed necessary by the Director of . .
Building and Engineering, provided such easements are not any more restrictive to the building of
structures beyond the applicable side yard and offset distances required for such lots.
2. Manner of Performance: Cause all construction called for by this Agreement to be carried out and
performed in a good and workmanlike manner.
'
3. Municipal Codes and Ordinances: 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 IX: GUARANTEES:
The Developer shall guarantee the recreation trail improvements and all other improvements described
in Section III, against defects due to faulty materials or workmanship provided that such defects appear
within a period of one (1) year from the date of acceptance. The Developer shall pay for any damages
to City property resulting from such faulty 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 X : 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 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 contractors growing out of this agreement as
stated above by any party or parties except those claims asserted by Developer against City, its officers,
agents and employees in an effort to enforce this Agreement. The Developer shall also name as
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MRED (Janesville/Racine) Associates Agreement
additional insured on its general liability insurance the City, its officers, agents, and employees, and any
independent contractors hired by the City to perform service as to this Property and give the City
evidence of the same upon request by the City. .
a) Hold Harmless. The DevelDper shall indemnify and hold harmless the City, its officers, agents,
independent contractors, and employees from and against all claims, damages, losses, and
expenses, including attorney's fees arising out of or resulting from the performance of the Work,
providing that any such claim, damage, loss, or expense (i) is attributable to bodily injury,
sickness, disease, or death, or to injury to or destruction of tangible property (other than the
Work itself) including the loss of use resulting therefrom, and (ii) is caused in whole or in part by
any negligent act or omission of the Developer, its officers, agents, independent contractors, and
employees or anyone for whose acts any of they may be made liable, regardless of whether or
not it is caused in part by a party indemnified herein. A claim for indemnification under this
section shall be conditioned upon the City giving to the Developer, within five (5) business days
of receiving the same, written notice of any such claim made against the City for which
indemnification is sought, and if requested to do so by Developer's insurance carrier, the City
shall tender the defense of such claims to the Developer's insurance carrier. In any and all
claims against the City, its officers, agents, independent contractors, and employees by the
Developer, its officers, agents, independent contractors, employees, and anyone direclly or
indireclly employed by any of them or anyone for whose acts any of they may be held liable, the
indemnification obligation under this section shall not be limited. in any way by any limitation on
the amount or type of damages, compensation, or benefits payable by or for the Developer, its
officers, agents, independent contractors, employees under Workers' Compensation Acts,
disability benefit acts, or other employee benefit acts.
b) Personal Liabilitv of Public Officials. In carrying out any of the provisions of this Agreement or in
exercising any power or authority granted to them thereby, there shall be no personal liability of
the City officers, agents, independent contractors, or employees, it being expressly understood
and agreed that in such matters they aCt as agents and representatives of the City.
.
c) Indemnification for Environmental Contamination. The Developer shall indemnify, defend, and
hold City and its officers, agents, independent contractors, and employees harmless from any
claims, judgments, damages, penalties, fines, costs, or loss (including reasonable fees for
attorneys, consultants, and experts) that arise as a result of the presence or suspected presence
in or on the real property dedicated or conveyed to the City by, under, pursuant to, or in
connection with the Plat and this Agreement (including but not limited to street right-of-way) of
any toxic or hazardous substances arising from any activity occurring prior to the acceptance of
all improvements. Without limiting the generality of the foregoing, the indemnification by the
Developer shall include costs incurred in connection with any site investigation or any remedial,
removal, or restoration work required by any local, State, or Federal agencies because of the
presence or suspected presence of toxic or hazardous substances on or under the real property,
whether the soil, groundwater, air, or any other receptor. The City agrees that it will immediately
notify Developer of the discovery of any contamination or of any facts or circumstances that
reasonably indicate that such contamination may exist in or on the real property. Upon receipt of
notice from the City or other entities, Developer shall investigate and rectify conditions which
indicate the presence of or suspected presence of contamination on the subject property as
identified by local, state, or federal agencies in order to comply with applicable laws.
d) Developer shall, at its expense, obtain and carry comprehensive general liability insurance with
combined single limits of at least One Million Dollars ($1,000,000.00) for one person and at least
Five Million Dollars ($5,000,000.00) per occurrence, and at least One Million Dollars . ($1,000,000.00) property damage (or such higher amounts as the City shall from time to time
deem reasonable). Such policy shall cover both Developer and the City and its agents,
employees, and officials, and all insurers shall agree not to cancel or change the same without at
least thirty (30) days written notice to the City. A certificate of Developer's insurance shall be
Page 7
MRED (Janesvilie/Racine) Associates Agreement
.
furnished to the City upon execution of this Agreement. Each such policy shall provide that no
act or default of any person other than the City or its agents shall render the policy void as to the
City or effect the City's right to recover thereon.
SECTION XI : 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 lot or parcel of land in the
Property. Further, that the sale of any lot or parcel shall not release the Developer from completing the
work required by Section II of this Agreement.
SECTION XII : CONSTRUCTION PERMITS. ETC...:
The City shall, within its authority:
1. 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. >
2. Cooperate with the Developer in obtaining permits, resolutions and documents as may be necessary
from other authorities having jurisdiction in the premises.
3. Make available to the Developer or their nominee successors or assigns, permits for the construction
of commercial buildings and two family residences subject to the provision of Section XIII.
. SECTION XIII: BUILDING AND OCCUPANCY PERMITS:
It is expressly understood and agreed that no building permits or occupancy permits shall be issued for
any commercial buildings until the Director of Engineering and Building has determined that:
1. The sanitary sewer, water, and surface water drainage facilities required to serve the Property are
operational systems as required herein, and installation of the bituminous concrete base course of
pavement has been properly installed, and
.
2. Certification is provided to the Director of Engineering and Building by a Registered Land Surveyor
that all lot grades conform to the Master Grading Plan, and
3. Negative balance in Developer's Deposit is satisfied unless otherwise authorized by the Planning
Director.
4. The Reciprocal Easement Agreement for Cross Access between Lot 2 and Lot 3 has been executed
and recorded, and evidence of same provided to the City.
SECTION XIV. FINANCIAL GUARANTEES:
.
1. LETTER OF CREDIT: Concurrent with 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 and Finance Committee Þn;'~;i:;;j>.;;;f~r~OQ3 in the amount of $119,673.00 as a guarantee
that the required plans and improvements 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
Property are satisfied.
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MRED (Janesville/Racine) Associates Agreement
a) 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.
b) Reduction Of Letter Of Credit Balance: The Developer shall provide Director of Engineering and
Building with a written request accompanied by: invoices for work completed for which a release
is being requested, breakdown of invoices in the format of the Public Improvement Cost
Breakdown form, and signed original lien waivers for all work which is subject of release request.
The Director of Engineering and Building will process all requests in accordance with policies
adopted by the Finance Committee, as may be amended from time to time.
.
2. DEVELOPER'S DEPOSIT: The Developer shall maintain a $10,000.00 balance in the Developer's
Deposit. No reduction of the Letter of Credit balance shall be entertained until the Developer's
Deposit is satisfied unless otherwise authorized by the Common Council following a recommendation
of the Finance Committee. In addition to the provisions set forth herein, each Building Site and
Operation Plan submittal for Commercial Parcels shall establish its own Developers Deposit
Account. The Developers Deposit shall be maintained and released in accordance with the adopted
policies of the Finance Committee.
3. PRESERVATION OF ASSESSMENT RIGHTS: >
a) Waiver of Notice. In addition to other remedies provided to the City by this Agreement, the City
shall have the right, without notice or hearing, to impose special assessments for any amount to
which the City is entitled by virtue of this Agreement upon the Property. This provision
constitutes the Developer's consent to the installation by the City of all improvements required by
this Agreement and constitutes the Developer's waiver of notice and consent to all special
assessment proceedings as described in Sec. 66.60 (18), Wis. Statutes.
b) Remedies not exclusive. The City may use any other remedies available to it under the
Agreement or in law or equity in addition to, or in lieu of, the remedies provided herein.
.
SECTION XV. PARTIES BOUND:
Developer 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. 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 from ultimate responsibility for the design,
performance, and function of the Development and related infrastructure.
SECTION XVI . AMENDMENTS AND ASSIGNMENT:
Developer shall not assign this Agreement without the written consent of the City, which shall not be
unreasonable withheld. The City and the Developer, by mutual consent, may amend this agreement, by
written agreement between the City and the Developer.
SECTION XV: NOTICES AND CORRESPONDENCE
Unless otherwise stated in this Agreement, the delivery of all notices and correspondence shall only be
effective upon being delivered personally, sent by prepaid United States Postal Service certified mail
with return receipt requested, sent by facsimile with transmission confirmation, or sent by electronic mail
with return receipt requested, to all parties as follows:
.
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MRED (Janesvilie/Racine) Associates Agreement
.
To City:
Planning Department
City of Muskego
POB 749
W182 88200 Racine Avenue
Muskego, WI 53150-0749
(262) 679-4136
To Deve[oDer:
MRED (JanesviHe I Racine) Associates, a WI. LP
cIa Redmond Construction, Inc.
W228 N745 Westmound Drive
Waukesha, WI 53186
262-549-1798
262-549-1725 facsimile
All notices shall be considered to have been delivered at the time such notices are personally delivered
to each party, or three (3) days after the date of postmark on any prepaid certified letter, facsimile
transmission, or electronic mail.
.
Parties to this Agreement shall give fifteen (15) days notice of any change of mailing address,
telephone or facsimile number, or electronic mail address. Failure to provide said notice may constitute
a default by the party.
SECTION XVII: PARTIES TO THE AGREEMENT
MRED (JANESVILLE I RACINE) ASSOCIATES, A WISCONSIN LIMITED pARTNERSHIP
By:
MRED (JanesviHel Racine), Inc. the sole general partner
Mark Redmond, President
. STATE OF WISCONSIN) SS
WAUKESHA COUNTY)
PERSONALLY came before me this~aäi:of: ;;; " '2003, Mark Redmond, to me known to be
the person who executed the foregoing instrument and acknowledged the same.
Notary Public, Waukesha County, Wisconsin
My commission expires
.
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MRED (Janesvilie/Raclne) Associates Agreement
IN WITNESS HEREOF, City has caused this Agreement to be signed by its appropriate officers and
their seals to be hereunto affixed in duplicate original counterparts on the date and year first written
above, .
B. CITY OF MUSKEGO:
BY:
Mark A. Slocomb, Mayor
BY:
Jean K. Marenda, City Clerk-Treasurer
STATE OF WISCONSIN) SS
WAUKESHA COUNTY )
PERSONALLY came before me this
-
day of , 2003, the above named Mark A. Slocomb,
Mayor, and Jean K, Marenda, City Clerk-Treasurer of the City of Muskego, to me known to be the
persons executed the foregoing instrument, and to me known to be suth Mayor and City Clerk-
Treasurer 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 ~ day of . .. . ,.. :;'2003.
Notary Public-State of Wisconsin
My Commission Expires
CERTIFICATION .
This is to certify that the foregoing is a true and correct copy of the Developer's Agreement for MRED
Associates and the City of Muskego, Wisconsin, as entered into pnthe ~då.ÿ.of; "
..'. . ,2.903, by
and between MRED (Janesville I Racine) Associates, A Wisconsin Limited Partnership and the City Of
Muskego, pursuant to the authorization by the Common Council from their meeting on the , .' ,
. 'dayof
,2003.
BY THE COMMON COUNCIL
Jean K. Marenda, City Clerk-Treasurer
SUBSCRIBED AND SWORN TO BEFORE ME
This ~ day of ...
.
,2003,
My commission expires
This instrument drafted by Brian Turk, Director of Planning
City of Muskego
PO Box 749
Muskego, WI 53150 .
MRED (JANESVILLE / RACINE) ASSOCIATES, LP
RETENTION POND MAINTENANCE AGREEMENT
.
This Agreement, made and entered into this day of , 2003, by and'
between MRED (Janesville 1 Racine) Associates, a Wisconsin Limited Partnership,
hereinafter referred to as "Developer", and the City of Muskego, a Municipal Corporation
located in the County of Waukesha and the State of Wisconsin, hereinafter referred to as
"City".
WITNESSETH:
WHEREAS, the DEVELOPER is the owner of certain lands described as:
.
All that part of the Northeast 1/4 of Section 17 and the Northwest 1/4 of Section 16,
Township 5 North, Range 20 East, in the City of Muskego, Waukesha County,
Wisconsin, bounded and described as follows: Commencing at the Northeast corner
of said Section 17; thence S.88018'33"W., 115.08 feet along the North line of the
Northeast 1/4 of said Section 17 to the now center line of Janesville Road; thence
S.37058'58"W., 353.25 feet along the center line of Janesville., Road; thence
S.52001 '02"E., 60.00 feet to the proposed Easterly right-of-way Janesville Road and
the point of real beginning of lands to be described; thence along the proposed
Easterly right-of-way Janesville Road, N.37O 58'58"E., 357.66 feet; thence
N.86043'18"E., 37.82 feet to the proposed Westerly right-of-way line of Racine
Avenue, said proposed Westerly right-of-way line of Racine Avenue is 55.00 feet
Westerly and parallel to the centerline of Racine Avenue; thence along the proposed
Westerly right-of-way line of Racine Avenue, S.38039'59"W., 45.53 feet to the East
line of the Northeast 1/4 of said Section 17; thence along the East line of the
Northeast 1/4 of said Section 17, S.00050'07"E., 88.04 feet to the Westerly right-of-
way line of Racine Avenue, said Westerly right-of-way line is 109.00 feet Westerly
and parallel to the centerline of Racine Avenue; thence along the Westerly right-of-
way line of Racine Avenue, S. 380 39'59"E., 153.00 feet; thence S.51020'01"W.,
118.81 feet to the West line of the Northwest 1/4 of said Section 16; thence along the
West line of the Northwest 1/4 of said Section 16, S.00050'07"E., 164.68 feet; thence
S.51059'41"E., 169.45 feet to the Northerly line of lands owner by the Wisconsin
Electric Power Company, said lands are described in Volume 160, Page 77 as
recorded in the Waukesha county Register of Deeds Office; thence along the
Northerly line of lands owner by the Wisconsin Electric Power Company;
S.54006'42"W., 208.32 feet to the Northerly line of lands described in Reel 527,
Image 858 as recorded in the Waukesha County Register of Deeds Office; thence
along the Northerly line, N.52001'02"W., 140.24 feet; thence along a line parallel to
the centerline of Janesville Road, N.37058'58"E., 175.93 feet; thence along a line
parallel to said Northerly line of lands described in Reel 527, Image 858,
N.52001'02"W., 324.00 feet to the point of real beginning. Said parcel contains
124,938 square feet or 2.868 total net acres, more or less.
And
.
All that part of the Northeast Y. of Section 17, Township 5 North, Range 20 East, in
the City of Muskego, Waukesha County, Wisconsin, bounded and described as
follows: Commencing at the Northeast corner of said Section 17; thence
S.88018'33"W., 115.08 feet along the North line of the Northeast 1/4 of said Section
17 to the now center line of Janesville Road; thence S.37058'58"W., 353.25 feet
along the center line of Janesville Road; thence S.52001'02"E., 60.00 feet to the
proposed Easterly right-of-way Janesville Road and the point of real beginning of
lands to be described; thence along the proposed Easterly right-of-way Janesville
MRED (Janesville I Racine) Associates
Retention Pond Maintenance Agreement
Page 2
Road, S.37058'58"W., 175.93 feet to the Northerly line of lands described in Reel
527, Image 858 as recorded in the Waukesha County Register of Deeds Office;
thence along the Northerly line, S.52001'02"E., 323.92 feet; thence along a line
parallel to the centerline of Janesville Road, N.37058'58"E., 175.93 feet; thence
along a line parallel to the Northerly line of lands described in Reel 527, Image 858
as recorded in the Waukesha County Register of Deeds Office, N.52001'02"W.,
324.00 feet to the point of real beginning. Said parcel contains 57,001 square feet
or 1.309 total net acres, more or less.
.
hereinafter referred to as the "Property"; and
WHEREAS, the City has approved the construction of storm water retention pond within said
Property; and
WHEREAS, the Developer has received various City permits and Wisconsin Department of
Natural Resources permits hereinafter referred to as DNR permits to construct the storm
water retention pond within said Property; and
,
WHEREAS, the Property discharges stormwater to a drainage way which is upstream from
Big Muskego Lake and Bass Bay, and the City and DNR have .expended great effort and
expense to remove sediment from Big Muskego Lake; and
WHEREAS, the City has established certain requirements for a retention pond and storm
water management to be constructed on the Property to minimize flooding and sediment
migration to the adjacent drainage ways, including navigable streams tributary to Big
Muskego Lake and adjacent wetlands, and .
WHEREAS, the Developer shall be responsible for the maintenance of the retention pond
constructed on the Property; and
WHEREAS, the City intends to reserve the right to enforce the requirement that the storm
water retention pond areas are maintained in a manner consistent with City requirements
and with this agreement and the storm water management plan attached and made a part
hereto, and on file in the offices of the City of Muskego Building Department, as required by
the City of Muskego Storm Water Management ordinance;
NOW THEREFORE, in consideration of the mutual covenants and agreements.
IT IS AGREED, as follows:
1. The Developer unless otherwise provided for in the storm water management plan shall
be responsible for maintenance of the on-site storm water improvements.
2. The Developer shall maintain the on-site storm water improvements in accordance with
the approved storm water management plan attached and made a part hereto, and on file
in the offices of the City of Muskego Building Department as required by the City of
Muskego Storm Water Management Ordinance.
3. The City of Muskego is authorized to access the Property to conduct inspections of storm
water practices as necessary to ascertain that the practices are being maintained and
operated in accordance with the approved storm water management plan. .
4. The Developer, on an annual basis, shall provide maintenance of each storm water
management measure, including but not limited to, removal of debris, maintenance of
.
.
.
MRED (Janesville I Racine) Associates
Retention Pond Maintenance Agreement
Page 3
vegetative areas, maintenance of on-site structural storm water management
improvements and sediment removal.
5. Upon notification to the Developer, by the City of Muskego, of maintenance problems
which require correction, the specified corrective actions shall be taken within a
reasonable time frame as set by the City of Muskego.
6. The City of Muskego is authorized to perform the corrective actions identified in the
inspection report if the Developer does not make the required corrections in the specified
time period. The costs and expenses shall be entered on the tax roll as a special
assessment or special charge against all Properties on an equal basis, and collected with
any other taxes levied thereon for the year in which the work is completed.
7. The Developer shall deposit in a segregated account with the City five thousand dollars
($ 5,000.00) to cover the estimated costs associated with the pond draw downs
necessary for the first five (5) years. Upon commencement of the sixth (6) year, and
continuing in each year thereafter, the City shall invoice the Property owners in an
amount sufficient to return the account balance to $1,000.00. Said billing shall occur
prior to November 1, to cover the costs associated with the pond draw downs in the
following year.
8. Any annual costs in excess of the $1,000.00 account balance, and which are associated
with the retention pond draw downs, shall be billed to the Property owners on an equal
basis. Costs not paid shall be on the tax bills as a special assessment or special charge
against the Properties on an equal basis and collected with any other taxes levied
thereon for the year in which the work is completed.
9.
.
This document shall be recorded with the Waukesha County Register of Deeds and shall
be a covenant running with the land and binding upon all owners of said land.
IN WITNESS WHEREOF, Developer has caused this Agreement to be signed by its
appropriate officers and their seals to be hereunto affixed in duplicate original counterparts
on the date and year first written above.
MRED (JANESVILLE I RACINE) ASSOCIATES, A WISCONSIN LIMITED PARTNERSHIP
By:
MRED (Janesville I Racine) Inc., the sole general partner
Mark Redmond, President
STATE OF WISCONSIN}SS
WAUKESHA COUNTY}
PERSONALLY came before me this day of , 2003, Mark
Redmond, to me known to be the person who executed the foregoing instrument and
acknowledged the same.
Notary Public, Waukesha County, Wisconsin
My commission expires
STATE OF WISCONSIN}SS
WAUKESHA COUNTY}
MRED (Janesville I Racine) Associates
Retention Pond Maintenance Agreement
Page 4
CITY OF MUSKEGO
IN WITNESS WHEREOF, City has caused this Agreement to be signed by its appropriate
officers and their seals to be hereunto affixed in duplicate original counterparts on the date
and year first written above.
.
By:
Mark A. Slocomb, Mayor
By:
Jean K. Marenda, City Clerk/Treasurer
STATE OF WISCONSIN}SS
WAUKESHA COUNTY}
Personally came before me this day of , 2001 the above named Mark
A. Slocomb, Mayor and Jean Marenda, City Clerk/Treasurer, 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/Treasurer 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 this 9th day of January, 2001.
Notary Public, Waukesha County, Wisconsin
My commission expires .
CERTIFICATION
This is to certify that the foregoing is a true and correct copy of the Retention Pond
Maintenance Agreement for the MRED (Janesville I Racine) Associates, LP and the City of
Muskego, as entered into on this day of , 2003, pursuant to the
authorization by the Common Council from their meeting on the day of, 2003.
BY THE COMMON COUNCIL
Jean K. Marenda, CMC
City Clerk/Treasurer
SUBSCRIBED AND SWORN TO BEFORE ME
this day of , 2003.
Notary Public, Waukesha County, Wisconsin .
My commission expires
.
.
.
MRED (JANESVILLE I RACINE) ASSOCIATES, LP
STORM WATER MANAGEMENT PLAN
The City of Muskego Storm Water Management Ordinance requires the filing of a Storm
Water Management Plan and Grading Plan. The Grading Plan including all hydraulic
calculations together with storm sewer plans and appurtenant storm water structures
have been filed by the Developer's engineer with the City of Muskego. Such information
was utilized by the City of Muskego to evaluate the environmental characteristics of the
area affected by the land development activity in the MRED (Janesville I Racine)
Associates (herein referred to as "Developer") property, the potential impacts of the
development upon the quality and quantity of storm water discharges, the potential
impacts upon water resources and drainage systems and the effectiveness and
acceptability of proposed storm water management measures in meeting the
performance standards set forth in the storm water ordinance.
. ~
The intent of this Storm Water Management Plan is to set forth specific storm water
management measures to guide the Developer and the City of Muskego regarding the
management of storm water in the MRED (Janesvil/e I Racine) Associates property.
Storm water management measures shall not be limited to those expressed in this plan
which may be expanded upon by the Wisconsin Department of Natural Resource$, the
City of Muskego or any other party having jurisdiction. This plan shall be broken down
into two sections:
SECTION 1 . DUTIES AND RESPONSIBILITIES OF THE DEVELOPER.
Ownership and maintenance including all payment for associated costs for the storm
water retention ponds shall be the responsibility of the Developer. The guidelines set
forth below shall not limit additional measures which may from time to time be mandated
by the City, DNR or any other party having jurisdiction.
The Developer shall at his expense:
1. Create the above referenced grading pians hydraulic calculations and storm sewer
plans and after approval of same by the City of Muskego file all such approved plans
with the City.
2. Improve the site by constructing said grading and storm water conveyance systems
together with all specified erosion control measures including final stabilization of the
site all in accordance with the Developer's Agreement and approved plans on file
with the City.
3. Construct storm water retention ponds to be contained on the site. The Developer
shall as-built the finish grade of the ponds and provide the as-built plans to the City.
The Developer shall also provide a bench mark at each pond to be illustrated on the
as-built drawings.
MRED (Janesville I Racine) Associates
Stormwater Management Plan
Page 2
4. The Developer shall be responsible for carrying out the on-site storm water
improvements on an ongoing basis expressed in this plan. It is understood that the
Developer shall have ownership and be responsible for maintenance of the on-site
storm water management improvements depicted on the plans approved by the
Public Works Committee on , 2003 and on file with the Building and
Engineering Department.
.
5. On an annual basis, provide for maintenance of each storm water retention pond,
including but not limited to, removal of debris, maintenance of vegetative areas,
maintenance of storm water structures, emergency overflows including rip rap and
sediment removal.
6. According to Section 2 the City shall keep an annual log of the depth of sediment in
the floor of the storm water retention ponds. The City shall advise the Developer of
all log entries on an annual basis and upon request of the Developer. When
sediment bUild-up reaches 15", the City shall notify the Developer to remove the
<
sediment. The DNR has required that any pumping of sedimént laden water by
contractors shall be filtered through a temporary sediment basin appropriately sized
prior to being discharged into the drainage ways or wetlands.
7. Be responsible for water quality in the storm water retention ponds including removal
of weeds and algae control.
8. Upon notification to the Developer by the City of Muskego, of maintenance problems
which require correction, the specified corrective actions shall be taken within a
reasonable time frame as set by the City of Muskego.
.
9. The City of Muskego is authorized to perform the corrective actions identified in the
inspection report if the Developer does not make the required corrections in the
specified time period. The costs and expenses shall be entered on the tax roll as a
special assessment or special charge against the entire MRED (Janesville I Racine)
Associates Property, to be collected with any other taxes levied thereon for the year
in which the work is completed.
SECTION 2 . DUTIES AND RESPONSIBILITIES OF THE CITY OF MUSKEGO.
The City of Muskego and the Department of Natural Resources (DNR) have expended
great effort and expense to remove sediment and. rough flsh from local water bodies,
and the City has established certain requirements for retention pond and storm water
management on the MRED (Janesville I Racine) Associates property to minimize
flooding and sediment migration to the adjacent drainage ways and wetlands. To
assure quality control the City of Muskego is willing to administer an annual "draw down"
of each retention pond that will result in reducing the depth of the water during the cold
months of the year. The City shall also administer an annual inspection of the storm
water retention ponds to monitor any build-up of sedimentation on the floor of the
respective ponds.
.
.
.
.
MREO (Janesville I Racine) Associates
Stormwater Management Plan
Page 3
Set forth below, is an outline of the City's responsibilities which has been agreed to by
the DNR:
1. City of Muskego shall administer draw down and inspect for sediment build-up.
2. Draw down of all retention ponds shall occur annually, generally within the first two
weeks of November.
3. Draw down may only occur after determination that sediment build-up will not be
transported through the discharge structures. If sediment build-up has occurred
above the invert elevation of the discharge structure it must be removed prior to
draw down.
4. Draw down gate valves. if installed, shall be closed within one week of
commencement of the draw down.
5. Sediment build-up in ponds shall be determined on an annual 6asis and shall be
recorded in a log. Removal of sediment shall 'be administered by the Developer
according to Section 1.
.
THIS INSTRUMENT DRAFTED BY:
Brian D. Turk, Director of Planning
City of Muskego
PO Box 749
Muskego, WI 53150
Approved by Public Works Committee ,2003
PUBLIC IMPROVEMENT COST BREAKDOWN
Redmond- W ALGREENS
Beg. Bal ADJ. BAL.
#1 ROAD CONSTRUCTION
a. Excavation to subgrade $0.00
b. Stone base material $0.00
c. Bituminous base course pavement $0.00
d. Bituminous surface course pavement $0.00
e. Concrete pavement $0.00
f. Other (Driveway Entrances & New Median on Janesville) $20,000.00 $20,000.00
g. Engineering Inspections $5,000.00 $5,000.00
$25,000.00 $0.00 $25,000.00
#2 SITE GRADING-LANDSCAPING
a. Lot grading $0.00
b. Drainage ditch construction $3,500.00 $3,500.00
c. Retention pond construction $14,200.00 $14,200.00
d. Parking area construction-incI pavement $0.00
e. Tree & shrub plantings , $0.00
f. Landscaping as specified by City $0.00
g. Erosion control $5,000.00 $5,000.00
h. Engineering Inspections $1,000.00 $1,000.00
i. Other $0.00
$23,700.00 $0.00 $23,700.00
#3 TOPSOIL, SEEDING/SODDING
a. Road ditch area $0.00
b. Terrace areas - in ROW $0.00
c. Drainage ditches $0.00
d. Retention ponds $5,000.00 $5,000.00
e. Areas as specified by City $0.00
f. Engineering Inspections $250.00 $250.00
g. Other $0.00
$5,250.00 $0.00 $5,250.00
#4 CONCRETE IMPROVEMENTS
a. Curb & Gutter $0.00
b. Sidewaik $0.00
c. Blvd.ltraffic islands $0.00
d. Ditch inverts $0.00
e. Engineering Inspections $0.00
f. Other $0.00
$0.00 $0.00 $0.00
.
.
.
Beg. Bal ADJ. BAL.
. #5 SANITARY SEWER SYSTEM
a. Mains,risers & Manholes $0.00
b. Laterals $0.00
c. Dumping station & Generator $0.00
d. Force main $0.00
e. Grinder pumps &chamber-indiv dwelling $0.00
f. Engineering Inspections $0.00
g. Other $0.00
$0.00 $0.00 $0.00
#6 WATER MAIN SYSTEM
a. Mains, valves & manholes $0.00
b. Hydrants & leads $0.00
c. Water services $0.00
d. Well & pumphouse $0.00
e. Engineering Inspections $0.00
f. Other $0.00
$0.00 $0.00 ~ $0.00
#7 STORM SEWER SYSTEM
a. Mains & manholes $35,256.00 $35,256.00
b. Catch basins & leads $0.00
c. Culverts $0.00
d. Drain tile $0.00
e. Headwalls/discharge structures $0.00
f. Engineering Inspections $4,500.00 $4,500.00
. g. Other $0.00
$39,756.00 $0.00 $39,756.00
#8 SPECIAL/MISC IMPROVEMENTS
a. Street lights $0.00
b. Street signs $0.00
c. Signs as specified by City $0.00
d. Erosion ControlN egetation Retainage $10,000.00 $10,000.00
e. Other (Recreational Trail) $9,667.00 $9,667.00
$19,667.00 $0.00 $19,667.00
#9 FEES
a. City administration $2,000.00 $2,000.00
b. Eng. inspections (req for all LOC) $0.00
c. Engineering-as built drawings for wls $2,800.00 $2,800.00
d. Legal $1,500.00 $1,500.00
e. Land acquisition $0.00
f. Other $0.00
$6,300.00 $0.00 $6,300.00
TOTAL PROJECT ESTIMATE $iI9,673.00 $0.00 $iI9,673.00
LETTER OF CREDIT AMOUNT
Engineering"Total engineering Costs included $13,550.00
in total Project Estimate"
.
I'1PR-11-2Ø03 ~44 JOHNSON INTERNI'1TIONAL 414 2S? 64Sß
-- . ~
II
JQHNSO~
BANK
OUR IRREVOCABLE STANDB R OF CREDIT NO SLC-DRAFI'
Amount: USDl19,673.00 (One Hundred Nineteen ThoIiaIlM Six E:undred
SevBflty Three and 00/100 U S Do11ats)
Applical1t: MRED (JanE$VÜ1e/Ra.Oine)
Associates eo Wisconsin limited Partnership
W2Z8 N74S Westmotmd Drive
Waukesha, WI 53186
Beneficiary: City of Musk ego
Post Office Box 749
W182 88200 Racine Ave.
M11Skego, WI 53150-0749
April 10, 2003
c
Dear Sirs:
Wt; hereby issue this 1irevoc9ble Standby Letter of Credit in your favor which is available
by beneficiary's draft(s) at sight drawn on JOhnson Bank, Madison, WI. Each Draft
accompanying dooun1cnis must state "Drawn Under Jobnson Bank In'evocable Standby
Letter of Credit No. ..
This Imvocable Standby Letter of Ctedit is to provide a guarantee to the City of
Muskego for the perfonnance of AppJicant obligations under that certam agreement dated
,20- [DATE OF CLOSING MEETING WITI{
THE CITY] between the CityofM11Skego and Applicant.
.
DRAFTS ARE TO BE ACCOMPANJED BY:
A statement signed by the Mayor of the City of Muske go stating thai Applicant has fài1ed to
complete the cons1ruc1ion of subdivision improvCIJ1ents in accordance with said Agxeement
or otherwise comply wit!! the obligations of the Agreement Said statement &ball set forth
me estimated amount n~ssary for the City of Musk ego to complete such improvenrentS or
otherwise comply with the obligations of the Agreement.
SPECIAL CONDITIONS:
This Standby Credit will tem:lÏnate 011 the
- clayof . [MUST BE
1S MONTHS FROM DA T.E OF EXECUTION] prollided, nowevex-, Jo1mson Bank,
Madison. WI sba11 give written notice to the beneficiary of its intention to terminate tbis
standby credit at ninety (90) days prior to the- day of -' . After said
date, this letter of credit can only terminate upcm. ninety (90) days written notice to the
beneficiary.
Continued on Page Two (2) which is an in.tegml pm of1bis Standby Credit.
MrMI1LI\ jO/IN>UN INIIllNATIONAL
!!!!.1~(;/"""~!~' f"'P_",~'
11,1 ~A\T WIIl'<>N>IN AWN!!' Mll.WAlIK'l, WI :I."I1N IfI' rIlONI,"'IIl'7'o450 tA~ 4141187-1>'"
N.z:I W'. ".1 Rl\Xil VIrW PARKWAY WlST WAll"' 'IIA WI :HI~~ Vllt1NI mm.1-9IS0 'AX' 2oJlS2H271
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.
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.
APR-11-2Ø03 0't' 44
-
JOrtmi'l 1 i'lTERNATI i:N'\L 414 287 6458
DRAFT
Page 2, An integral part of Standby Credit No.
It is hereòy agreed by a1l parries hereto 1:I\at the 1'eferenl'e to .
Agreement" is for
identification pmposes only and such re:!èn:nce shall not be construed in any = to
reqUired Jobnson Bank, to inquire into its terms and obligations.
We encourage with you that dtafts drawn under and in compliance with the term.s oftbis
credit will be duly honored if presented on or before the expixation date. This original
Standby Credit must be subnUtted to 1M together with any~ hereunder fur our
endorsement of any paymeJltB effected by lIS and/or fur can~l1ation.
Vety Ttu1y Yours,
,'JOHNSON Bft.l\iK
DRAFT
BY:
P.11!3
TOTAL P.v.J3
cou., dJl01:l~ <INOJi!affi! S.L 16ÞS.Ø. XVII 16 :90 COIL 1/ÞO