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HomeMy WebLinkAboutWater Ext/Reimburse/Ter/ Mohawk WATER MAIN EXTENSION REIMBURSEMENT AGREEMENT BETWEEN THE CITY OF CARMEL, INDIANA AND THE TERRACE AT MOHAWK This Agreement entered this /_~__ day of/~~ , 1985 between the City. of Carmel, Indiana (hereinafter "Carmel") and Mohawk Crossing Limited, an Indiana partnership (hereinafter "Mohawk") WITNESSETH WHEREAS, Carmel duly adopted and enacted Ordinance A-54 January 5, 1982) \that provides in part for the reimbursement by Carmel of private funds-expended for water main extensions as determined by the Board of Public Works and Safety, and WHEREAS, Mohawk desires to extend an off site' water main in the Terrace at Mohawk, Carmel, Indiana at an increase cost of $15,158.00. NOW THEREFORE, the parties agree as follows: 1. This written Agreement entered prior to the commencement of construction is executed by the parties pursuant to Ordinance A-54 (Section 4.03 of the Carmel City Code) (January 5, 1982). 2. Mohawk shall install and pay for the water main extension in The Terrace at Mohawk and advance the sum of $15,158.00 to or on behalf of Carmel to pay for the construction of the water main extension. 3. Carmel determines such expenditure to be necessary to provide adequate water to adjacent real estate and to meet the requirements of Carmel. ©© 0 4. Carmel and Mohawk agree that Mohawk shall be entitled to reimbursement of the sum of $15,158.0d from the "water main extension fund" established pursuant to Ordinance A-54. 5. Carmel's obligation shall be to repay funds from those deposited i~ the "water main extension fund" and Carmel does not incur any liability for repayment other than to pay from funds deposited in the "water main extension fund". IN WITNESS WHEREOF, the parties have executed this Agreement on the date first above written. Billy Walker, Member Board of Public Works ~~kl~Par t~er 2