Foster Estates Homeowners Association/Eng/Receiving 40,000/Project Cost Sharing Agreement/Maintenance of Storm Water InfrastructureJAS
PROJECT COST SHARING AGREEMENT
This Agreement entered into by and among the Foster Estates Homeowners Association,
Inc. (the "Association") and the City of Carmel, Indiana, by and through its Board of Public
Works and Safety, (the "City").
WITNESS THAT:
WHEREAS, the Association is the owner of, and has maintenance responsibility for, the
storm water infrastructure located within the Foster Estates Subdivision (the "Subdivision")
located in Carmel, Hamilton County, Indiana; and,
WHEREAS, storm detention deficiencies within the Subdivision's dry detention basins
must be remedied in order to enhance storm water storage capacity; and,
WHEREAS, the City and the Association believe the most expeditious and effective way
to remedy these deficiencies is to remove earth, trees, and other physical features within the
Subdivision's existing drainage easements (the "Project"); and,
WHEREAS, the City has entered into a contract with Yardberry Landscape Company,
(the "Contractor") construct the Project at a total estimated cost of One Hundred Twenty Seven
Thousand Nine Hundred Dollars ($127,900.00); and,
WHEREAS, the Association is willing to pay a portion of the cost of the dry detention
basin work, for an amount up to and not exceed Forty Thousand Dollars ($40,000.00).
IT IS THEREBY AGREED by and between the parties as follows:
1. The City agrees to enter into a contract with the Contractor to complete the
Project.
2. The City and the Association agree that the design, scope, implementation,
construction, and contract administration of the Project is the sole responsibility of the City, that
XAjoberlandeAContractsToster Estates HOA Project Cost Agreement.docx
the design, construction, and completion of the Project shall be the responsibility of and under
the sole control and discretion of the City, and that the Association bears no responsibility for the
same.
3. All costs of the Project shall be paid by the City. Upon completion of the Project,
the City shall furnish to the Association an itemized invoice detailing the costs of the Project.
The Association shall remit Forty Thousand Dollars ($40,000.00) to the City within 30 days of
receipt of the invoice from the City.
4. The Association, acknowledges and represent as follows:
a. While the City believes that the Project will provide positive benefits to the
dry detention basins, the City cannot, and does not, make any representation
or warranty that the Project, as designed, will protect the homeowners'
property, or the land within the Subdivision, from all flood events.
b. The sole purpose of this Agreement is for the parties to share in the cost of the
Project.
c. By sharing in the cost of the Project, the City shall not be deemed to have
accepted any future maintenance duties related to Subdivision's storm water
infrastructure, nor shall the City's participation in the funding of this Project
be deemed as an admission or assumption of liability for any future storm
water related projects within the Subdivision unless the City has any such
duties prior to the date of execution of this Agreement.
X:\joberlander\Contracts\Foster Estates HOA Project Cost Agreement docx
5. This Agreement constitutes the entire agreement between the Association and the
City with respect to the subject matter hereof, and supersedes all prior oral or written
representations and agreements regarding same. This Agreement may only be modified by
written amendment executed by both parties hereto, or their successors in interest.
ALL OF WHICH IS AGREED by and between the parties on the dates set out herein.
APPROVED by the Foster Estates Homeowners Association this 26 -
day of
U5T 12017.
FOSTER ESTATES HOMEOWNERS
ASSOCIATION, INC.
By
Printed:AL L 8 Ek—,
Title: President, Foster Estates Homeowners
Association
ATTEST:
By: k4�-tk
Printed: Dail j—
Title: Foster Estates HOA Board Member
XAjoberlanderTontractsToster Estates HOA Project Cost Agreement.docx
Approved and Adopted thisWkday of �J�r 20
CITY OF CARMEL, INDIANA
By and through its Board of Public Works and Safety
BY:
w
es Brainard, Presiding Qfficer
Date:
Mary An urke�, Wm7'7
Date: �/
Lori S. Watson, Me er
Date:
7(_�/
1 - J�
istine S. Pauley, Clerk -Treasurer
Date: q�_6 -71
MjoberlanderTontractsToster Estates HOA Project Cost Agreement docx