R97-40 AUTHORIZING AGREEMENT - Laserfiche WebLink

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The Adjacent Property Owner will benefit from the Sanitary Sewer Main in the event they wish to be connected to the City sewer by tapping into the Sanitary Sewer Main. 3. City to Collect Fees for Tapping into or usin�the Sanitary Sewer Main. (a) In the event, the Adjacent Property Owner wishes to tap into the Sanitary Sewer Main, they will be responsible for thirty-three and one-third (33 1/3) percent of the fees related to the construction of the Sanitary Sewer Main as set forth in Exhibit"C". The parties hereby agree that the City, for a period of five(5)yea.rs from the date of recording of this Recapture Agreement, will collect any and a11 fees from the Adjacent Property Owner. The costs of construction of the Sanitary Sewer Main as set forth in Exhibit"C" will be subject to an annual percentage rate increase of seven('7) percent from and after the date of completion of the construction of the Sanitary Sewer Main. Said completion date will be determined by the City based on the date of acceptance by the City of the Sanitary Sewer Main. The City upon collection of the fees as set forth above, will forward any of the fees to Casey's at the address listed below: I Casey's General Stores, Inc. Attn: Douglas M. Beech �I ' One S.E. Convenience Boulevard Ankeny, IA 50021 (b) In the event the Adjacent Property Owner taps into the Sanitary Sewer Main within ' the five(5)yeaz period described in subparagraph(a)hereof and pays the fee required hereby in installments, pursuant to Section 4 of Chapter 74 of the City Code, Casey's sha11 be entitled to all such installments regardless of when the same are actually received by the City. 4. Benefit. Each of the covenants and agreements made and provided herein shall be construed as covenants and agreement imposed upon and running in perpetuity with the land. Each and every one of the benefits and burdens of this agreement sha11 inure to and be binding upon the respective heirs, legal representatives, executors, administrators, successors and assigns of the parties hereto. 5. Obligation. The duty of the City to reimburse Casey's under the provisions hereof is a limited obligation payable only from fees collected from the Adjacent Property Owner, and is not a general obligation of the City nor a claim on the full faith and credit of the City. 6. Hold Harmless. Casey's agrees to indemnify and hold harmless the City from a11 costs, expenses,judgment and causes of action arising out of or related to the City's compliance with the terms hereof, including but not limited to reasonable attorney's fees incurred in any suit or other proceeding in any court of competent jurisdiction or before any administrative agency having regulatory authority herein which contests the validity of this agreement or the reasonableness or validity of the construction costs set out herein or the tapping fees imposed pursuant hereto. - 3 -