) SS:
THIS AGREEMENT, made and entered into this                 day of                                       ,        , by and between             (Name of Subdivider)            hereinafter designated as Owner and the Town of Walkerton, herein represented by the Town Council.
WHEREAS, the Owner owns and desires to develop lots                                         through                                 ,                   (subdivision)                  located in Walkerton, Indiana; and
WHEREAS, the final plat of lots                         through                         , inclusive,               (Subdivision)          will be given final approval by the Walkerton Plan Commission upon Owner posting a surety bond insuring the satisfactory installation and construction of the following improvements:
(describe improvements)
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 constructs 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 Walkerton, 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 within                 months from date hereof
to install and construct the described improvements in accordance with plans prepared by                                         , Land Surveyor, which plans meet the requirements of the Walkerton 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   (surety bond, cashier’s check or certified check)  in the amount of $                which bond is attached hereto and made a part hereof to guarantee the installation and construction of the following improvements:
(describe improvements)
according to plans and specifications therefor. Said                       (bond or check)                      may be cancelled only after said work has been completed, inspected and approved by written acceptance of the Walkerton Town Council.
The above described improvements shall be constructed under the supervision of                             in full compliance with the specifications and requirements of the Town of Walkerton and, when completed,                                           shall furnish the Town with a certificate of a 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 Walkerton 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 therefor, the Town of Walkerton 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                                       ,              .
Witnesses               (Name of Subdivider or Development Company)
                  Town Council
(Ord. passed - -)