Water Main Extension Agreement - Paul Estridge•
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WATER MAIN EXTENSION REIMBURSEMENT AGREEMENT BETWEEN
THE CITY OF CARMEL, INDIANA AND
PAUL E. ESTRIDGE CORP.
This Agreement entered this 7th day of November, 1986,
between the City of Carmel, Indiana (hereinafter "Carmel ") and
Paul E. Estridge Corp., an Indiana partnership (hereinafter
"Estridge Corp."
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, Estridge Corp. desires to extend an off site water
main in Smokey Hollow, Carmel, Indiana at an increase cost of
$24,000.00.
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. The Estridge Corp. shall install and pay for the water main
extension in Smokey Hollow and advance the sum of $24,000.00 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.
4. Carmel and Estridge Corp agree that The Estridge Corp
shall be entitled to reimbursement of the sum of $24,000.00 from
the "water main extension fund" established pursuant to Ordinance
A -54.
5. Carmel's obligation shall be to repay funds from those
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 ".
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• • •
INWITNESS WHEREOF, the parties have executed this Agreement
on the date first above written.
e A. Reiman, Mayor
y of Carmel
Billy Walker, Member
Board of Public Works
•
Fred Swift, Me er
Board f Public Works
Paul E. Estridge
President
PAUL E. ESTRIDGE CORP.