Contract with city as to street improvement.

We, _________ and his wife, _________, owners of the following described property _________ in consideration of the improvements, including grading, excavation, paving and curbing of the street or roadway _________ feet wide to be made by virtue of a resolution adopted by the _________ of the city of _________, state of _________, and the contract and specifications previously adopted by _________ upon the completion of the improvements in front of the property and premises above described and the acceptance of the improvements by the city, promise to pay _________ whatever sum shall be ascertained to be the pro rata share of the costs of the improvements in front of the premises according to the front-foot rule under the terms of the resolution and contract and the charter of the city not to exceed _________ dollars, but if the frontage of the premises shall finally exceed the amount stated in this agreement, then the pro rata cost of improvements of the excess shall be paid for to _________ at the rate of _________ per front foot for the excess.

The amount due shall be paid as follows: all cash at the option of the undersigned, or one-third thereof _________ days after the improvements have been completed in front of the property and accepted by the city, the balance in two equal instalments on or before one and two years after acceptance, with interest at the rate of _________ percent per annum.

In consideration of the improvements to and upon the premises and the fact that the value of the property will be enhanced in excess of the cost of the improvements, we, the undersigned, do hereby expressly confess, admit, give and grant unto _________, the contractors who are to furnish the labor and material with which to construct the improvements, and their assigns, the mechanic's, builder's, contractor's and materialman's lien upon the premises to secure the full payment of the indebtedness mentioned; and as further security to _________ and as an inducement for them to perform the work and furnish the necessary labor and material, the undersigned by these presents grants, bargains, sells and conveys unto _________ the above-described lands, to have and to hold with all and singular the hereditaments and appurtenances to the lands belonging or appertaining in trust, for the purpose of further securing the payment of the debt described above, and when the debt has been paid, these presents shall be without force and effect.

We do hereby consent that the _________ of the city may levy a special assessment against the property for the amount ascertained to be the proportionate share chargeable against the property, and may issue to _________ an assignable certificate for this amount payable in the manner specified above.

This obligation is not conditioned upon the improvements of the street before all property abutting the street, but the improvement may be omitted in front of the property of any owner or owners abutting the street who decline to make satisfactory arrangements with _________ for the payment of his, her, or their, part of the cost of the improvement, and this obligation shall be deemed only cumulative and independent of any proceedings of the _________ later mentioned and of any provisions as the _________ shall make for the pro rata cost of the improvements against the abutting property or the owners of the property.

If a special assessment is levied upon the above-described property and the certificate mentioned above is issued by the city, then any payments made on the certificate shall be apportioned as credit, and shall be indorsed upon request. And consent is also given that the commission may make any change or changes it may deem necessary or proper in the plans and specifications for paving the street railway track upon the street, if any, and any change or changes shall, in no way, affect the legality of any assessment or liability in any respect. Witness our hands this _________ day of _________, _________[date].





More Real Estate Forms


Browse Real Estate Forms & Mortgage Forms Alphabetically




Home Courses Real Estate Forms Income Properties For Sale Forums Real Estate Articles   

Copyright © 2001 - 2006, Buy Income Properties, Inc. All Rights Reserved. Privacy Policy in Observance.