HomeMy WebLinkAboutWater Ext/Reimburse/Cool Creek ~.'~$ATER Y~IN EXTENSION REIMBURSEMENT AGREEMENT~ BET~EEN
THE CITY OF CARMEL, INDIANA AND COOL CREEF( ASSOCIATED
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1985 between the City of Carmel, Indiana (hereinaf~lYer "Carmel") and
Cool Creek Associated, an Indiana limited partnership (hereinafter
"Cool Cree'k").
I.'~ITNESSETH
~[HEREAS,Carmel duly adopted and enacted ordinance
(January 5, 1982) that provides in part for the reimbursement by
Carmel of private funds expended for'water main extensions as de-
termined by the Board of Public Works and Safety, and
~iHEREAS, Cool Creek desires to extend an off-site water main
extension as per plans 84-1278 of Weihe Engineering, dated October
26, 1984, Carmel, Indiana at an increased cost of $113,168.00
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 o~ the Carmel Cit~ Code) (January 5, 1982).
2. Cool Creek shall install and pay for the water main exten-
sion as per plens #84-1278 of Weihe Engineering dated October 26,
198~, and advance the sum of $113,168.00 to, or on behalf of Car-
mel, to pay for th~ 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.
4. Carmel and Cool Creek agree that Cool Creek shall be entitled
to reimbursement of the sum of $11~,168.00 from the "water main ex-
tension fund" established pursuant to ordinance A-J~.
~. Carmel's obligation shall be to repay funds from ~hose
deposited in 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.
/Jan~A'. --Re fma~, ~ayor
/ C~ of Carmel
Bil~ ~?alker, Member
Board of Public Works
Mark Hasten~General Partner
Cool Creek Associates, Ltd.