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MEMORANDUM OF UNDERSTANDING 2014 BETWEEN CITY OF MOSCOW, IDAHO AND THOMPSON DEVELOPMENT, LLC, DEVELOPER INDIAN HILLS 6th ADDITION PHASE TWO THIS MEMORANDUM OF UNDERSTANDING 2014 BETWEEN CITY OF MOSCOW, IDAHO AND THOMPSON DEVELOPMENT, LLC (hereinafter) "2014 MOU", is entered into the 5 day of May, 2014 by and between City of Moscow, Idaho, a municipal Corporation of the State of Idaho, 206 East Third Street, Moscow, Idaho, 83843 (hereinafter "CITY"), and Thompson Development, LLC, Developer of Indian Hills 6th Addition of the City of Moscow, Idaho (hereinafter "DEVELOPER"). W I T N E S S E T H : WHEREAS, on June 2°d, 2008 the Moscow City Council approved the Indian Hills 6th Addition to the City of Moscow, an approximately twenty three (23) acre subdivision plat with sixty nine (69) platted lots including a mixture of R-2, R-3, R-4, GB, and MB Zoning Districts; and WHEREAS, in accordance with Moscow City Code § 5-1-5(F), the Indian Hills 6th Addition was required to provide a parkland dedication which included a forty one thousand sixty three (41,063) square foot parkland dedication and a payment of fee in lieu of dedication of One Thousand Three Hundred Fifty Dollars ($1,350); and WHEREAS, on June 3rd, 2013, the Moscow City Council approved DEVELOPER's requested rezone of Lot 1 of Block 7 of the Indian Hills 6th Addition to the City of Moscow from Moderate Density Single Family (R2) Zoning District to a combination of Residential Office (RO) and General Business (GB) Zoning Districts; and WHEREAS, in accordance with Moscow City Code 5-1-5(F)( where the zoning district classification for a parcel of land is subsequently changed at the request of an owner to a zoning district requiring a higher proportion of land for parkland purposes, or from a zoning district not requiring dedication to one that does, then dedication of the parkland or additional parkland shall be required; and WHEREAS, the June 3rd, 2013 rezone required an additional parkland dedication of nine thousand nine hundred fourteen (9,914) square feet by DEVELOPER; and WHEREAS, DEVELOPER proposed and CITY accepted the dedication of a nine thousand nine hundred fourteen (9,914) square foot parcel of land outside of the Indian Hills 6th Addition and in MEMORANDUM OF UNDERSTANDING 2014 THOMPSON DEVELOPMENT, LLC I CITY PAGE 1 OF 5 ---PAGE BREAK--- proximity to the prior Indian Hills 8 th Addition parkland dedication, to satisfy the additional parkland dedication requirement of the Indian Hills 6 th Addition rezone; and WHEREAS, at the request of one of the neighbors of Indian Hills 6 th Addition, DEVELOPER submitted a proposal by letter dated March 31, 2014, to amend the prior parkland dedication for the Indian Hills 6 th Addition to relocate said additional nine thousand nine hundred fourteen (9,914) square feet of additional parkland within the Indian Hills 6th Addition through the addition of Lots 1 and 2 of Block 6 to the existing forty one thousand sixty three (41,063) square foot parkland dedication under certain terms and conditions contained herein; and WHEREAS, after careful consideration of the greater public good, CITY desires to accept DEVELOPER's proposal to amend the prior parkland dedication; and WHEREAS, the purpose of this Memorandum of Understanding is to memorialize the agreement between DEVELOPER and CITY regarding this parkland dedication amendment. NOW, THEREFORE, DEVELOPER and CITY hereby agree as follows: 1. PARKLAND VACATION AND DEDICATION A. CITY shall, pursuant to law, vacate an approximately one thousand seven hundred eighty nine (1,789) square foot portion of Parcel of the Indian Hills 6th Addition to the City of Moscow as legally described below and shown upon the attached Exhibit The eastern 10.33 feet of Parcel of the Indian Hills 6th Addition to the City of Moscow B. DEVELOPER shall dedicate Lot 1 of Block 6 of the Indian Hills 6 th Addition to CITY for public parkland purposes to satisfy the parkland dedication requirement of the Indian Hills 6th Addition and the Partial Rep lat of Blocks 3 and 5 of the Indian Hills 6th Addition. Such dedication, along with the required public improvements to be completed by DEVELOPER as described herein, shall fully satisfy all parkland dedication requirements for the Indian Hills 6th Addition and the Partial Rep lat of Blocks 3 and 5 of the Indian Hills 6th Addition and all zoning district amendments thereto approved as of the date of this 2014 MOU. 2. LOT LINE ADJUSTMENT CITY shall subsequently complete a lot line adjustment, pursuant to applicable law, to the property boundary between the existing dedicated parkland parcel and Lots 8 and 9 of Block 6 to reallocate the one thousand seven hundred eighty nine 789) square feet of vacated parkland to Lots 8 and 9 of Block 6, projecting the common lot line between Lots 8 and 9 of Block 6 through said vacated parkland tO the intersection of the eastern boundary of the remaining parkland dedication. MEMORANDUM OF UNDERSTANDING 2014 THOMPSON DEVELOPMENT, LLC I CITY PAGE 20F5 ---PAGE BREAK--- 3. VACATE PEDESTRIAN EASEMENTS CITY shall, pursuant to law, vacate the existing pedestrian easements between Lots 3 and 4 and Lots 13 and 14 of Block 5 of the Partial Replat of Blocks 3 and 5 of the Indian Hills 6th Addition, and between Lots 6 and 7 of Block 6 of the Indian Hills 6th Addition to the City of Moscow. 4. PURCHASE OF LOT 2 OF BLOCK 6 DEVELOPER shall sell to CITY Lot 2 of Block 6 of the Indian Hills 6th Addition to the City of Moscow for the sum of Forty Seven Thousand Five Hundred Dollars ($47,500). 5. PUBLIC IMPROVEMENTS DEVELOPER shall be responsible for all public improvements as required under Moscow City Code for the Indian Hills 6th Addition and the Partial Replat of Blocks 3 and 5 of the Indian Hills 6th Addition including all frontage improvements for Lots 1 and 2 of Block 6 and Parcel of the Indian Hills 6th Addition. 6. PRIOR PARKLAND DEDICATION CITY shall retain the previously dedicated nine thousand nine hundred fourteen (9,914) square feet of parkland dedication located near the Indian Hills gth Addition and credit such parkland dedication toward future parkland dedication requirements that may result from the subdivision and /or development of DEVELOPER's property located anywhere within one half (1 mile of said parkland dedication or located anywhere west of Mountain View Road and north of Palouse River Drive. 7. LEGAL DESCRIPTIONS AND DOCUMENTS CITY shall be responsible, at no cost to DEVELOPER, for developing all legal descriptions and agreements required to effectuate the actions described herein. 8. TIME OF DEVELOPMENT DEVELOPER makes no assertion as to when Phase 2 of the Indian Hills 6th Addition will be developed, including subject Park parcel. The parties understand that said development is dependent upon market conditions. 9. PARKLAND NAMING PROCESS DEVELOPER shall be included or shall have the opportunity to participate in CITY's process in naming of said Park property. MEMORANDUM OF UNDERSTANDING 2014 THOMPSON DEVELOPMENT, LLC I CITY PAGE3 OF 5 ---PAGE BREAK--- ' I 10. MODIFICATION CITY and DEVELOPER agree that the provisions of this 2014 MOU may be modified only upon written request of DEVELOPER and acceptance by CITY. 11. BINDING ON HEIRS AND ASSIGNS AND SUCCESSORS IN INTEREST This 2014 MOU shall be binding upon the heirs, assignees and successors in interest of the respective parties. 12. ENTIRE AGREEMENT. DEVELOPER specifically understands and agrees that this 2014 MOU is entered into voluntarily and not because of any inducement, threat or pressure from CITY or any other party. Both Parties have given valuable consideration for the benefit of each party. This 2014 MOU is the entire agreement relative to the subject matter hereof, and there are no oral agreements existing relative to the subject matter hereof which are not expressly set forth herein. 13. JURISDICTION AND VENUE. It is agreed that this 2014 MOU shall be construed under and governed by the laws of the State of Idaho. In the event of litigation concerning it, it is agreed that proper venue shall be the District Court of the Second Judicial District of the State of Idaho, in and for the County of Latah. DEVELOPER Thompson Development, LLC MEMORANDUM OF UNDERSTANDING 2014 THOMPSON DEVELOPMENT, LLC I CITY CITY City of Moscow, Idaho hfu Bill Lambert ATTEST: Stephanie Kftlasl?! City Clerk L.Ai.u' L,c.cAJ. . PAGE40F 5 ---PAGE BREAK--- STATE OF IDAHO ) ) SS. COUNTY OF LATAH ) ACKNOWLEDGMENT On this I$ day of fV1 2014, before me, a Notary Public in and for said State, appeared Garrett A. Th-0 pson, known to me to be the person named above and acknowledged that he executed the foregoing document as the duly authorized representative for Thompson Development, LLC. MEMORANDUM OF UNDERSTANDING 2014 THOMPSON DEVELOPMENT, LLC I CITY y Public for the State of Idaho Residing at /Y\oscov::> My commission expires r .;21 r 16'"" PAGE 5 OF 5 ---PAGE BREAK--- a a " • c: z - Exhibit ! 7•41• li;- © ! II © t I# } • @ 11 d 11 I 1033· r1 • e1 Jr • II( • • I k " Ii 3' w- 1 . N ff• l'W < • "'tj £