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12805 SW 77th Place *at STREET DEDICATION COMPLIANCE AGREEMENT THIS AGREEMENT dated this 10th day of July 19 73 between the CITY OF TIGARD, a municipality of the State of Oregon, hereinafter termed the "City", and - Utility Equipment, Inc. hereinafter termed "Petitioner", WIINESSETH : WHEREAS, Petitioner has applied to the City for approval for dedication of a street to be known as Southwest 77th Place as described on the attached Exhibit "A", and by reference made a part hereof; and WHEREAS, the City of Tigard requires Petitioners for street dedications to install streets, sidewalks, street lighting, storm sewers, underground utilities and other public facilities for the development of the street and requires the payment of fees; and WHEREAS, the City has approved and adopted the standard specifications for Public Works construction by APWA, Oregon Chapter, and the Unified Sewerage specifications for sanitary sewers prepared by professional engineers for Public Works construction; and WHEREAS, the public improvements required to be constructed or placed in the said street area are incomplete, but petitioner has nonetheless requested the City to permit dedications of the property to the public and the parties herein named desire to protect the public interest generally to assure the public improvements will be installed as required and completed within the time hereinafter set forth, NOW, THEREFORE, in consideration of the foregoing premise and the covenants and agreements to be kept and performed by the Petitioner and its contracts and contractor' s surety, IT IS HEREBY AGREED AS FOLLOWS: 1. Petitioner shall proceed to complete all public improve- ments as shown on herewith improved plan and as approved by the City of Tigard and prepare/ by ,cel*P455 Emez., dated 7 27 73 . Said street to be completed no later than one (1) year from the date of this agreement, and Petitioner hereby agrees to comply with standard specifications adopted by this City, or as may otherwise be approved by the Department of Public Works and to use only sah material and to follow such designs as may be required to conform thereto. * Niro 2. To assure compliance with the City' s requirements and the provisions thereof, Petitioner agrees to have its contractors tender to the City, surety bonds in form approved by the City, with liability in an amount equal to the contract price of $ gj42Z S:a Q prior to issuance of its permit to the contractor for construction of said street. 3. In the event that the contractor shall fail, neglect or refuse to proceed with the work in an orderly and progressive manner to assure completion within the time limited, upon ten (10) days' notice by the City to the contractor and the contractor' s surety, and such default and failure to proceed continuing thereafter, the City may at its option proceed to have the work completed and charge the costs thereof against the contractor and the contractor ' s surety and in the event the same be not paid, to bring an action on the said bond to recover the amount thereof. In the event that such action be brought, the contractor and the contractor' s surety shall be required to promise and agree to pay, in addition to the amounts accruing and allowable, such sum as the court shall adjudge reasonable as attorney' s fees and costs incurred by the City, both in the Trial Court and Appellate Court, if any, or the City may at its option bring proceedings to enforce against the contractor and/or contractor ' s surety, specific performance of the contract and compliance with the standards adopted by the City of Tigard, and in any event, in a like manner, the City shall be entitled to recover such sums as the court may adjudge reasonable for the City' s attorney' s fees and costs, both` in the Trial Court and Appellate Court, if any. 4. Petitioner, concurrent with the execution hereof, has deposited with the City an amount estimated to equal rental and maintenance fees with respect to the street lighting facilities of the subdivision, according to Portland General Electric Schedule 491, Option B, together with a further sum equal to the estimated cost of providing electrical energy to energize the street lighting facilities for a period of two (2) years from the date of initial energizing of said lights, estimated to require the sum of $ ) O t,o o - - • = - - . 5. The City agrees to make and provide periodic final inspections as in the City' s judgment are necessary to assure compliance herewith, in consideration whereof the contractor is to be required to pay the prescribed inspection fee of 1-1/2% of the total estimated cost of the construction. 6. The City agrees to installation of street identifications and traffic signs for said street, in consideration of payment in the amount of $ (.5.00 7. Petitioner agrees to installation of street trees along both sides of said street and landscaping as may be approved by the Planning and Zoning Commission. Said planting and landscaping to be accomplished before final acceptance of the street. Said requirement being in lieu of sidewalks. Street Dedication - Page 2 of 3 • 411410‘ A 8. At such time as all public improvements have been completed in accordance with the City' s requirements, contractor shall be required to notify the City of the readiness for final inspection and upon certification by the Department of Public Works that all requirements of the City have been met, the contractor will submit to the City a good and sufficient maintenance bond, if not already provided with the performance bond, in form approved by the City in a sum equal to fifty per cent (50%) of the contract price to provide for correction of any defective work or maintenance becoming apparent or arising within one year after final acceptance of the public improvements of said street by the City. 9. Upon receipt of certification by the Department of Public Works that all requirements have been met and a one-year Maintenance Bond, the City Council agrees to accept the public improvements, subject to the requirements for correction of deficiencies and maintenance for a period of one year as herein- above set forth. IN WITNESS WHEREOF, the parties have executed this agreement pursuant to authority vested in each of them. (Ai 1 i -nt , Inc. B : # Roy G,ecks, President ,(Lt,ley CITY OF TIGARD By: Mayor By: Recorder Street Dedication - Page 3 of 3 FORM No. 24—ACKNOWLEDGMENT—CORPORATION. 611 STEVENS-NES5 LAW PVS.CO., PORTLAND,ORE. STATE OF OREGON, ss. County of Multnomah on this 6til _day of August , 19-7-3, James C. Male is before me appeared J and both to me personally known, who being duly sworn, did say that he, the said is the President, and he, the said James C. Maletis is the Secretary of Utility. Equipment,Inc._ the within named Corporation, and that the seal affixed to said instrument is the corporate seal of said Corpora- tion, and that the said instrument was signed and sealed in behalf of said Corporation by authority of its Board of Directors, and and Jarau C. A4a12tis acknowledged said instrument to be the free act and deed of said Corporation. IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed my ' ial seal the dOy and year last above written. ?'. Notary Public for Oregon. My Commission expires November 28, 1975 STATE OF' OP '(.;0 IV, (:,4;nry oi Washi.ngton 1 On eit:is 6th day of August 19 73, 0 ,toro in,- .:•r,,,a;-, . acy Coeck.s 13-q11 .") !;Z-. ",,`1,('!;.;!:1 ' known, 11--, c1:71,v ,,t :- .. ,.:,' ;-•3,- :,bat he, the s-..ii,i Roy Coe cks if., ;J,c P.--sident, and ht--; ...he said is the ,`..p:,cref, . of Utiaity. F.auipment,. Inc. the wiqiin t : n:et! Cor ,-, ...-'on, rnld that he seal cilixed to said Instrurn, rtt is the corporae sPal of said Cor,ror3- tion, and tlt r''; -,.. .. - ,:e. ument was A.,-h2d ind sealed ;n behali of said Corp4.-"rat;o21 by authority of its Doi,..zi of !Erector's, in,.; Roy Goecks and . . . .. acknowiedd s.--h'' :nstrument to be the frre a,.:1 and deed DI' . aid C.,-orooration. IN TESTIMONY WHEREOF, I have hereunto set my ,11. nd and affixed my offs.r 11 seal th?day and year last shove written. I 2. 2' 1. ,. _,,,1 ,./.2,,).7 L., ,„2_ ; a 1 Notary Public for Oregon. My Commission expires March .lath., .197.5 .. 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County of Multnomah On this 6th day of August , 1913., before me appeared James C. aletis and both to me personally known, who being duly sworn, did say that he, the said is the ____ President, and he, the said James._C—Maletis is the Secretary, of Utility Equipment, Inc. the within named Corporation, and that the seal affixed to said instrument is the corporate seal of said Corpora- tion, and that the said instrument was signed and sealed in behalf of said Corporation by authority of its Board e ams U. Maletis of Directors, and jand acknowledged said instrument to be the free act and deed of said Corporation. IN TESTIMONY WHEjOF, I have hereun set my hand and affixed ai my of . seal the day ),/and ;lrl;s:Lbovewritten. Notary Public for 6Lys.gon. My Commission expiresNovember 28, 1 FORM No. 24—ACKNOWLEDGMENT—CORPORATION. fflt 5-F JENS NFSF 1 AO, FJB FO , PORI:ANL, STATE OF OREGON, 1 ss. Washington 6th August 19 73, County of ._ _ _ On this _ day of • before me appeared _ _ . _ _ _ ..Erne.st_Ci. 01j.vu and both to me personally known, who being duly sworn, did say that he, the said Ernest. G—Cliver irJdzscxxxxxxiziosidentimichiwthrmarcid 44-08.1SearstrapY Ioan Officer of the Bank of California the within named Corporation, and that the seal affixed to said instrument is the corporate seal of said Corpora- tion, and that the said instrument was signed and sealed in behalf of said Corporation by authority of its Board of Directors, and and __ . ___ __ _ _. ._ __ ____ ___ acknowledged said instrument to be the free act and deed of said Corporation. IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed my off *al seal 1•1 day and dear last above written. , & Notary Public for Oregon. , My Commission expires March 18th 1975