AGREEMENT FOR DEVELOPMENT OF SUBDIVISIONS
STATE OF INDIANA )
) SS:
COUNTY OF MARSHALL )
THIS AGREEMENT, made and entered into this______day of________,_____by and between_____________________hereinafter designated as Owner and the Town of Culver, herein represented by the Town Council;
WITNESSETH:
WHEREAS, the Owner owns and desires to develop lots__________through________both inclusive, of___________________Subdivision located in Culver, Indiana; and
WHEREAS, the final plat of lots________through___________, inclusive,____________Subdivision will be given final approval by the Culver Plan Commission upon Owner posting a surety bond insuring the satisfactory installation and construction of the following improvements:
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as shown on the plat prepared by___________, Land Surveyor, attached hereto and made a part hereof, according to the terms and conditions of this Agreement; and
WHEREAS, the Owner now desires final approval of the plat of________Subdivision prior to the installation and construction of the above described improvements, which improvements will be installed and constructed at Owner's sole cost and expense;
NOW, THEREFORE, it is hereby agreed by and between the Owner and the Town of Culver that for and in consideration of the final approval of lots_______through________inclusive,________Subdivision for the sale of lots therein without the above described improvements more particularly shown on the attached plan profile, having been first completed and approved, Owner binds and obligates himself or herself within_____months from date hereof to install and construct the described improvements in accordance with plans prepared by________, which plans meet the requirements of the Culver Subdivision Control Ordinance, said plans being attached hereto and made a part hereof.
The Owner, in order to further insure faithful performance of said obligation, has executed a___________in the amount of $__________________which bond is attached hereto and made a part hereof to guarantee the installation and construction of the following improvements:
__________________________________________________________________________________________ __________________________________________________________________________________________ ___________________________________________________________________________________________
according to plans and specifications therefor. Said____________________may be cancelled only after said work has been completed, inspected and approved by written acceptance of the Culver Town Council.
The above described improvements shall be constructed under the supervision of the Town Council in full compliance with the specifications and requirements of the Town of Culver and when completed the Town Council shall furnish the Plan Commission with a certificate of satisfactory completion.
It is further understood by and between the parties of this Agreement that in the event said improvements are not constructed within___________months from date hereof, the Town of Culver shall have and is hereby granted the right, without putting the said owner in default, to ipso facto call upon the said surety to complete the improvements hereinabove described and in default of the surety promptly causing such improvements to be constructed according to the plans and specifications, the Town of Culver shall have the right to cause the improvements to be made and to call upon said surety for payment of all costs and expenses incurred in the construction thereof.
IN WITNESS WHEREOF, these presents have been signed in the presence of the undersigned competent witnesses at______________on this_____day of____________,___________.
By:_____________________________________
Name of Subdivider or Development Company
Witness:
_______________________________
Witness: TOWN COUNCIL
CULVER, INDIANA
_______________________________
Clerk-Treasurer
________________________________________
President