Waterstone Homeowners Association/Eng/25,000/Agreement for Payment of Project CostAGREEMENT FOR PAYMENT OF PROJECT COST
This Agreement entered into by and among the Waterstone Homeowners Association,
Inc. (the "Association"), and the City of Carmel, Indiana, acting by and through its Board of
Public Works and Safety, (the "City")
WITNESSETH:
WHEREAS,, the Association is the owner of, and has maintenance responsibility for,
Waterstone Lake (the "Lake"), which is located between the Bay Hill and Windpointe
Subdivisions (the "Subdivisions"). Both Subdivisions are located in Carmel, Hamilton County,
Indiana;
WHEREAS, the Lake's outfall structure has failed, thereby preventing the Lake from
maintaining the normal pool water level;
WHEREAS, the Association has entered into contracts with Excavating Unlimited and
Associa OnCall, (the "Contractors") to design and construct the necessary repairs to the outfall
structure and other associated drainage pipes (the "Project")
WHEREAS, the Contractors have completed the Project at a cost of Seventy One
Thousand Nine Hundred Forty Six Dollars and Eighty Four Cents ($71,946.84);
WHEREAS, the City is willing to reimburse the Association up to Twenty Five
Thousand Dollars ($25,000) in order to help offset the cost of the Project.
IT IS THEREBY AGREED by and between the parties as follows:
1. The City and the Association agree that the design, scope, implementation,
construction, and contract administration of the Project is the sole responsibility of the
Association, and that the City bears no responsibility as to the design, construction, or
completion of the Project.
C:\Users\jkulirnan\D"kiopthVaterstone\lVaterstone HOA Project Cosi Agreement Draft legal —isions.docx
All costs of the Project shall be. paid by the Association. Upon completion of the
Project, the Association may file verified claims with the City for reimbursement up to $25,000.
3. The Association, acknowledges and represent as follows:
a. The Association, and/or its representatives have been solely responsible for
the design and implementation of the Project.
b. The City does not make any representation or warranty that the Project, as
designed, will provide substantial positive benefits to the Lake or land within
the Subdivision.
c. The sole purpose of this Agreement is for the City to assist in paying part of
the cost for the Project as selected, designed, constructed, and managed by the
Association.
d. By providing assistance to the Association in paying part of the cost of the
Project, the City shall not be deemed to have accepted any future jurisdiction
or maintenance duties for the Lake, nor shall the City's participation in the
funding of this Project be deemed as an admission or assumption of liability
for any future Lake -related projects within the Subdivision unless the City has
any such duties prior to the date of execution of this Agreement.
e. The Association represents and warrants that it has the authority to contract
with the Contractors to perform the work for the Project, including lawftil
means for ingress and egress to the Project, the use of land that is necessary to
complete the Project, and to dispose of the spoils from the Project.
4. The Association agrees to indemnify and hold harmless the City for any and all
liability which might result from the construction of the Project, and any and all claims that may
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be brought against the Association or the City arising out of the design, implementation and
conclusion of the Project, it being the understanding of the parties that the Association shall be
solely responsible for any and all indirect or direct liability to any person or entity resulting
from the construction of the Project.
S. The City shall have a reasonable right of access to the Project site, and shall be
informed of the progress of the Project on a regular basis. Representatives of the City may
inspect the Project, but have no duty to change, alter, redesign or take any acts concerning the
construction of the Project, other than to assure that the reimbursement payments described
above are due and owing for a portion of the work which has been completed.
6. The City shall not have any duty with respect to the Project other than issuing
reimbursements to the Association as set out above.
7. 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.
2018.
ALL OF WHICH IS AGREED by and between the parties on the dates set out herein.
APPROVED by the Waterstone I Iomeowners Association this Z day of M.?' ,
WATERSTONE HOMEOWNERS
ASSOCIIATION,,, INC.
By
Printed: 1v--r_a14a1
Title: President, Waterstone Homeowners
Association
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ATTEST:
\
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Printed:
Title: WaterstoneHOA Board Member
Approved and Adopted this I day of `� I 20M.
CITY OF CARMEL, INDIANA
By and through its Board of Public Works and Safety
BY:
/nesrainard, Presidi Office
Date: 1,7
Lori S. Wats embe
Date: 7 'b G
ATTEST%
Christine S. P;E�ilk-Treasurer
Date: ��////
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