HomeMy WebLinkAboutCity Council Resolution 1992-783CITY OF PLYMOUTE
RESOLUTION NO. 92-783
REDUCING DEVELOPMENT BOND
CHURCHILL FARMS 4TH ADDITION (92022)
WHEREAS, in accordance with the development contract dated April 29, 1992, Lundgren
Brothers Construction, Inc., developer of Churchill Farms 4th Addition (92022) has
agreed to install certain improvements for said development; and
WHEREAS, the developer has completed a portion of the street, utility and site grading
as noted below; and
WHEREAS, the developer has requested a reduction of the development bond to reflect the
completed work;
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF PLYMOUTH that
the bonding requirements are reduced as follows:
Street Construction
Sanitary Sewer
Watermain
Storm Sewer
Boulevard & Drainage
Swale Sod
Pond or Ditch Construction
Street Signs (1 x 150)
Park and Trail Improvements
Site Grading & Drainage Improvements
Design, Administration,
Inspection, As-Builts
ORIGINAL TOTAL
ORIGINAL AMOUNT
City Proj. Original
$ -0-
$82,000
$ -0-
$82,000
-0-
35,000
-0-
35,000
-0-
29,000
-0-
29,000
23,785
36,000
-0-
36,000
-0-
-0-
3,600
3,600
-0-
-0-
-0-
-0-
-0-
150
-0-
150
-0-
-0-
-0-
-0-
-0-
-0-
21,858
70,300
8.868
70,300
$204,008
$ 82,768
30.726
$286,776
TOTAL PROJ. NO. 016 $23,785
CHURCHILL FARMS 4TH ADDITION (92022)
Resolution No. 92-783
Page Two
ITEM
Street Construction
Sanitary Sewer
Watermain
Storm Sewer
Boulevard & Drainage
Swale Sod
Pond or Ditch Construction
Street Signs (1 x 150)
Park and Trail Improvements
Site Grading & Drainage Improvements
Design, Administration,
Inspection, As-Builts
ORIGINAL TOTAL
NEW AMOUNT
City Proj. New
$ -0-
$22,000
$ -0-
$22,000
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
23,785
-0-
-0-
-0-
-0-
-0-
2,000
2,000
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
TOTAL PROJ. NO. 016* $23,785
2.640 240 2.880
$24,640 $2,240 $26,880
That the letter of credit required for the above items (excluding Project No. 016) is
hereby reduced as detailed above from $77,291 to $26,880. Letter of Credit No. 921009-
1A may be reduced accordingly.
* The required financial guarantee for this was provided with Churchill Farms Addition
(90009).
FURTHER BE IT RESOLVED that the bonding requirements for the following items per
Section 8.1 of the approved development contract be reduced as follows:
MI 11WI ; ; M1113
Maintenance of Erosion and
Sediment Control Plan,
Street Sweeping and Storm
Sewer Cleaning Cash: $ 1,000 $ 11000
Letter of Credit: $17,250 $ 3,450
FURTHER BE IT RESOLVED that the required financial guarantees for the above items
remain at $1,000 cash with the required Letter of Credit No. 921009-1D remaining at
$3,450.
FURTHER BE IT RESOLVED that the sanitary sewer, watermain, and storm sewer construction
is accepted for continual maintenance as of December 7, 1992 subject to the Two Year
Guarantee by the Developer per the maintenance bond provided by Nodland Construction
Company, Inc.
Adopted by the City Council on December 7, 1992