Full Text
LAT,UNTY RECORDER DEVELOPMENT AGREEMENT FEE$ 8 BETWEEN MOSCOW MAIN LLC AND THE CITY OF MOSCOW, IDAHO THIS DEVELOPMENT AGREEMENT is entered into this J!!day of ri { , 2008 by and between MOSCOW MAIN LLC, a Washington Limited L1a 1hty Company, 845 1 06th A venue NE, Suite 100, Bellevue, Washington, 98004, being developers of real property as described herein, (hereinafter referred to as "DEVELOPER"), and the City of Moscow, Idaho, a Municipal Corporation of the State of Idaho, 206 East Third Street, Moscow, Idaho, 83843 (hereinafter referred to as "CITY"); WITNESSETH: WHEREAS, DEVELOPER desires to develop property located at 414 North Main Street, City of Moscow, Latah County, Idaho, to be known as the Walgreen's site; and WHEREAS, DEVELOPER understands that improvements required herein are standards required pursuant to Moscow City Code Title 5, Chapter 1 and are authorized by Idaho Code Sections 67-6513 and 67-6518; and WHEREAS, DEVELOPER and CITY believe that without the public improvements required herein, CITY would not be able to otherwise provide for mitigation of the effects of the subdivision development on the ability of CITY to deliver services without compromising quality of such service delivery to current CITY residents, or without imposing substantial additional costs upon current CITY residents to accommodate the proposed subdivision; and WHEREAS, CITY desires to ensure that public improvements consisting of sidewalks and the relocation of an existing CITY sanitary sewer main are constructed; and WHEREAS, DEVELOPER understands that a waiver of public improvements is available pursuant to Moscow City Code, but DEVELOPER specifically does not wish to request such a waiver and wishes to enter into this Agreement; and WHEREAS, DEVELOPER enters into this Development Agreement of DEVELOPER's own free will and accord, without coercion and without inducement and at DEVELOPER's request; and WHEREAS, DEVELOPER has read this Agreement, has understood it, and has had the opportunity to avail itself of legal and other counsel prior to entering into this Agreement and prior to signing it; NOW, THEREFORE, DEVELOPER and CITY hereby agree as follows: MOSCOW MAIN LLC I CITY OF MOSCOW DEVELOPMENT AGREEMENT PAGE I OF7 2008-13 ---PAGE BREAK--- I. PROPERTY AFFECTED: 521364 This Agreement affects property located at 414 North Main Street within the City of Moscow, Latah County, Idaho, more particularly described as follows: A parcel of land situated within the City of Moscow, Latah County, State ofldaho, in the Northwest Quarter of Section 8, Township 39 North, Range 5 West of the Boise Meridian, Lots 1, 2, 3, 4, 5, 12, 13, 14, 15, and 16 along with portions of Lots 9, 10 and II and a portion of the vacated alley being within Block I of the Re-plat of Moore's Addition to Moscow according to the plat thereof, recorded in Book 3, Page 29 more particularly described as follows: Commencing at the Northwest Corner of said Section 8, thence South oa 57' 50" East, 2650.12 feet, along the West line of said Section 8, to the West Quarter Corner of said Section 8; thence North 52' 13'59" East, 64.10 feet to Southwest corner of Lot I, Block I, of said Re-plat of Moore's Addition to Moscow, said point also being the easterly right of-way (ROW) line of Main Street (U.S. Highway 95) and THE POINT OF BEGINNING; thence North oa 57' 50" East, 200.00 feet along the east ROW line of said Main Street to the south line Lot 6, said line also being the southerly line of a Parcel of land owned by Prime Investments Inc., described in a deed filed under AFN 494771, Official Records of said county; thence the following 4 courses along said Parcel of land, of Prime Investments Inc., South 89' 09'10" East, 125.00 feet; thence North oa 57' 50" East, 40.00 feet; thence South 89' 09' 10" East, 20.00 feet; thence North Oa 57' 50" East, 80.00 feet to the southerly ROW line of E Street; thence South 89' 09' 1 0" East, 30.00 feet along said southerly ROW line; thence leaving said ROW line South oa 57' 50" West, 120.00 feet; thence South 89' 09'10" East, 95.00 feet to the westerly ROW line of Washington Street; thence South oa 57' 50" West, 200.00 feet along the westerly ROW line to the northerly ROW line of D Street; thence North 89' 09' I 0" West, 270.00 feet along the said northerly ROW to the easterly ROW line of said Main Street, said point also being the Point of Beginning. EXCEPTING a portion of Lot 1, Block I of said Re-plat of Moore's Addition to Moscow according to the plat thereof, dedicated to the City of Moscow more particularly described as follows: BEGINNING at the southwest corner of Lot I, Block I in the above described description, said point being the east ROW line of said Main Street; thence North O l!>lff l, My Commission Expires: t/r !I MOSCOW MAIN LLC I CITY OF MOSCOW DEVELOPMENT AGREE.\1ENT PAGE 70F7 ---PAGE BREAK--- COMPLETION BOND Bond No. 104454636 Travelers Casualty and Surety Company of America One Tower Square 3PB, Hartford, CT 06183 KNOW ALL MEN BY THESE PRESENTS, That we Graham Construction & Management, Inc. of Spokane, Washington, as Principal (hereinafter called Principal), and Travelers Casualty and Surety Company of America, a corporation organized and existing under the laws of the State of Connecticut with its Home Office in the City of Hartford, Connecticut, as Surety (hereinafter called Surety), are held and firmly bound unto The Citv of Moscow, as Obligee, in the full and just sum of Twenty Thousand - 00/100 Dollars ($20,000.00), lawful money of the United States of America, to be paid to the said Obligee, successors or assigns; for which payment, well and truly to be made, we bind ourselves, our heirs, executors, administrators, successors and assigns, jointly and severally, firmly by these presents. WHEREAS the Principal has entered, or is about to enter, into a written Agreement with the Obligee for Public Improvements Required by the Development Agreement by and between MOSCOW MAIN LLC and the CITY OF MOSCOW. IDAHO dated April 7, 2008 having Latah County Recording Number 521364. as is more specifically set forth in said Agreement, to which reference is hereby made. NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION IS SUCH, that if the Principal shall well and truly perform and carry out the covenants, terms, and conditions of said Agreement, then this obligation to be void; otherwise to remain in full force and effect. Sealed with our seals and dated this 15 day of May, 2008. Witness Graham C nt,lnc. Principal Travelers Casualty and Surety Company nf America Witness S-1935-B (08-99) ---PAGE BREAK--- WARNING: THIS POWER OF ATIOANEY IS INVALID WITHOUT THE RED BORDER POWER OF ATTORNEY TRAVELERS] Attorney· In Fact No. Farmington Casualty Company Fidelity and Guaranty Insurance Company Fidelity and Guaranty Insurance Underwriters, Inc. Seaboard Surety Company St. Paul Fire and Marine Insurance Company 219696 St. Paul Guardian Insurance Company St. Paul Mercury Insurance Company Travelers Casualty and Surety Company Travelers Casualty and Surety Company of America United States Fidelity and Guaranty Company Certificate No. 0 0 2 2 313 4 5 KNOW ALL MEN BY THESE PRESENTS: That Seaboard Surety Company is a corporation duly organized under the laws of the State of New York, that St. Paul Fire and Marine Insurance Company, St. Paul Guardian Insurance Company and St. Paul Mercury Insurance Company are corporations duly organized under the laws of the State of Minnesota, that Fannington Casualty Company, Travelers Casualty and Surety Company, and Travelers Casualty and Surety Company of America are corporations duly organized under the laws of the State of Connecticut, that United States Fidelity and Guaranty Company is a corporation duly organized under the laws of the State of Maryland, that Fidelity and Guaranty Insurance Company is a corporation duly organized under the laws of the State of Iowa, and that F1delity and Guaranty Insurance Underwriters, Inc. is a corporation duly organized under the laws of the State of Wisconsin (herein collectively called the "Companies"), and that the Companies do hereby make, constitute and appoint Jill Floyd, Brenda Johnson, and Maureen Moran of the City of Calaary, Alberta , State of Canada , their true and lawful Attorney(s)-in-Fact, each in their separate capacity if more than one is named above, to sign, execute, seal and acknowledge any and all bonds, recognizances, conditional undertakings and other writings obligatory in the nature thereof on behalf of the Companies in their business o(guaranteeing the fidelity of persons, guaranteeing the perfonnance of contracts and executing or guaranteeing bonds and undertakings required or >in rurPt.ions OJ eedings allowed by law. t . • • 28ili IN t!le have caused this insro: Power of Attorney, call !-[PHONE REDACTED] or contact us at www.travelersbond.com. Please refer to the Attorney-In-Fact number, the above-named individuals and the details of the bond to which the power is attached. WARNING: THIS POWER OF ATTORNEY IS INVALID WITHOUT THE RED BORDER