Res 2004-113 - Laserfiche WebLink

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46. OVERSIZE REIMBURSEMENT AGREEMENT FOR ROADW A Y AND UTILITY IMPROVEMENTS This Agreement is made on July 13 'J 2004 between the City of San Marcos, a Texas municipal corporation (the "City"), 630 E. Hopkins, San Marcos, TX 78666, and Fairfield San Marcos Exchange ill, Ltd. (the "Developer"), 2045N. Highway 360, Grand Prairie, TX 75050. RECITALS 1. The Subdivision Chapter of the San Marcos City Code provides for the installation of certain public improvements associated with new subdivisions. This chapter also allows the City to require a subdivision developer to install improvements that are oversized with respect to City minimum standards or the needs of the subdivision,_ and provides for the allocation of the cost of the improvements between the City and the developer. 2. 'The City desires to, have the Developer make the following improvements (collectively called the "Improvements") in connection with the D~veloper's construction of Lot 2 of the Blanco Shoals PDD Subdivision (the "Subdivision"), to provide for future City needs: Oversize of River Ridge Parkway pavement design, and oversize· of water main from 8" to 16" 3. The Developer has provided the City with a cost estimate prepared by the ··Developer' s engineer for the construction of the Improyements, which has -been reviewed and approved by the Engineering Department. The total estimated cost is $454,993.58, of which the amount of$59,625.18 will be paid by the City to serve infrastructure needs other than those generated by the Subdivision. 4. The City andthe Developer have agreed to allocate the cost of the Improvements as described in this Agreement. AGREEMENT The City and the Developer, inconsideration of the mutual promises, covenants and agreements set forth in this Agreement, agree and' contract as follows: 1. The Developer agrees to construct the Improvements as described on the construction plans for the Subdivisfon approved by the City, in accordance with the City's construction standards and specifications. 2. The Developer will act as project manager in the construction of the Improvements. The Developer will·ensure that the construction is carried out under the ·direct supervision of a professional engineer registered in the State of Texas. 3. The City agrees to pay to the Developer the sum of $59,625.18 towards the cost of the Improvements. This payment will be made in a lump sum no later than 30 days after the acceptance of the completed Improvements by the City. 4. The City agrees to inspect the construction of the Improvements as construction progresses, to inspect the Improvements upon completion of construction, and to accept the Improvements upon satisfactory completion. The City will issue a certificate of acceptance of the Improvements to the Developer when all required inspections are passed and the Developer submits a one-year warranty against defects in materials and