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RERECORD 428562 DEVELOPMENT AGREEMENT MEADOW VIEW ADDITION TO THE CITY OF MOSCOW THIS AGREEMENT is entered into this day of 1997, by and between Gary and Kathleen Tribble and Steven and Roxan sh (referred to as "DEVELOPERS"), being Owners and Developers of real prope y as described herein, and City of Moscow, Idaho, a Municipal Corporation of Idaho (referred to as "CITY") WITNESSETH WHEREAS, DEVELOPERS desire to develop property located within the City of Moscow, Idaho, hereinafter described as Meadow View Addition to the City of Moscow, Latah County, Idaho; and WHEREAS, CITY desires to ensure that a public improvement consisting of a sewer line which is designed to serve dwellings placed on Meadow View Addition be stubbed to the adjoining property to the east of Meadow View Addition and installed by DEVELOPERS; NOW THEREFORE, DEVELOPERS and CITY hereby agree as follows I. PROPERTY AFFECTED This Agreement affects property located within the City of Moscow, Idaho, known as Meadow View Addition to the City of Moscow, being more particularly described in Exhibit attached hereto and incorporated herein by this reference II. PUBLIC IMPROVEMENT DEVELOPERS agree to construct, at their sole expense, to CITY standards, the following public improvement A All sanitary sewer service within Meadow View Addition, including the stubbing of the sewer line to the property adjacent to Meadow View Addition to the east All plans and drawings shall be approved by the City Engineer prior to the beginning of any construction of improvements. IlL TERM: This Agreement shall remain in effect until the public improvement required herein is constructed and installed and such public improvement is accepted by the CITY for maintenance, or until the DEVELOPERS provide security to the CITY for the public improvement, pursuant to Moscow City Code 5-l-10. DEVELOPMENT AGREEMENT MEADOW VIEW ADDITION PAGE I 97-19 ---PAGE BREAK--- IV. CITY'S COVENANT RERECORD 428562 CITY shall issue building permits for DEVELOPERS' development, (upon payment of permit fees, public utility inspection fees of 0. 7 5% of estimated construction costs and satisfaction of CITY code requirements) only after construction and installation of the public improvement and acceptance of such by the CITY for maintenance, or after adequate security as described herein and consistent with Moscow City Code 5-1-10 has been provided to ensure proper construction of the required public improvement. V. DEVELOPERS' COVENANT A DEVELOPERS agree to construct, at their sole expense, to CITY standards and in accordance with approved engineering plans for Meadow View Addition, the public improvement described in Section II. of this Agreement or to provide adequate security as described herein and consistent with Moscow City Code 5-1-10 to ensure proper construction of the required public improvement B. If DEVELOPERS fail to complete installation of the public improvement described in Section II to CITY standards within one hundred eighty ( 180) calendar days of the issuance of the building permit, CITY may utilize the security specified in Sections VI and VII to complete such public improvement DEVELOPERS further agree that if DEVELOPERS fail to complete installation of such public improvement to CITY standards within such time period, CITY shall revoke occupancy of the development, revoke any applicable permit issued to DEVELOPERS by CITY and shall cease to issue further building permits for the affected property until such improvement is completed. VL SECURITY FOR IMPROVEMENTS If DEVELOPERS install the public improvement to City standards which are accepted by CITY for maintenance prior to the issuance of a building permit by CITY, no security for such public improvement is required. In lieu of the installation of the public improvement, CITY agrees that only upon the receipt of adequate security described herein and pursuant to Moscow City Code 5-1-10, will it issue building permits (upon payment of permit fees, public utility inspection fees of 0.75% of estimated construction costs and satisfaction of CITY code requirements) for DEVELOPERS' development If DEVELOPERS fail to complete installation of the public improvement as required by CITY, CITY may attach the security and cause the improvement to be made, or CITY may cause the improvement to be made and attach a lien on the property in the amount of CITY expense incurred as a result of DEVELOPERS' failure to comply with this Agreement Any engineering or construction costs in excess of the security shall DEVELOPMENT AGREEMENT MEADOW VIEW ADDITION PAGE2 ---PAGE BREAK--- RERECORD 4Z856Z be borne by DEVELOPERS. Any additional construction services shall be let by bid, and subject to the laws of the State of Idaho relative to the letting of such bids. VII FORM OF SECURITY A DEVELOPERS agree to provide security m the amount of THIRTY THOUSAND, FOUR HUNDRED AND FORTY DOLLARS ($30,440) for the public improvement required by Section II of this Agreement and consistent with the requirements of Moscow City Code 5-1-1 0 unless security is not required because of the installation of the public improvement and its acceptance by CITY for maintenance prior to request for a building permit The security shall be in the form of a construction bond, irrevocable letter of credit from a certified bank or financial institution, or such other form of security acceptable to CITY Such security shall be provided to CITY prior to the issuance of building permits by CITY The security must be effective for a minimum period of eight hundred fifty (850) days from the date of the issuance of the first building permit. If this security is in the form of an irrevocable letter of credit or bond, the secured improvement shall be constructed at least ninety (90) days prior to the expiration date of the security. If the public improvement identified and described in Section II is not completed at that time, CITY may claim the security and complete the said improvement. The amount of the security may, from time to time, be modified as deemed appropriate by CITY Engineer as conditions warrant. As improvements are completed and accepted by CITY for maintenance, the amount of security shall be reduced to reflect such completions, provided that such amount shall not be reduced to an amount less than the adjusted estimate of costs of the remaining improvements to be constructed. B. If for any reason the security for such improvement shall be withdrawn by DEVELOPERS or the surety or financial institution, or the value or terms thereof shall be compromised in any way, CITY shall immediately revoke any building permits issued. Further, DEVELOPERS shall hold CITY harmless for any and all causes of action or damages alleged to have been sustained because of the revocation of such building permits. If any building permits are revoked pursuant to this Agreement or any subsequent development agreement, such building permits shall be re-issued upon receipt by CITY of new or additional security as required by Moscow City Code 5-1-10 and/or this Agreement or any subsequent development agreement, whichever security is of the greater amount. DEVELOPMENT AGREEMENT MEADOW VIEW ADDITION PAGE3 ---PAGE BREAK--- VIII AS-BUlL T DRAWINGS 428562 DEVELOPERS agree to furnish, prior to acceptance by CITY of the public . , improvement as required herein, one set of accurate, complete, mylar 'I ' iilt et;?n :tf",uf/uwt drawings for the improvement described herein, unless such requirement is waived, by the City Engineer IX. F AlLURE TO COMPLY If DEVELOPERS fail to comply with the terms of this Agreement, CITY, after ten ( 10) days written notice, may seek specific performance of the Agreement and may attach the security to complete the improvements. DEVELOPERS agree to pay all expenses incurred by CITY in enforcing this Agreement. X. BINDING ON HEIRS, ASSIGNS AND PURCHASERS This Agreement shall be binding upon the heirs, assignees of the parties, and subsequent purchasers of the property described herein. XI. OCCUPANCY DEVELOPERS agree that no person shall be allowed to construct improvements or to occupy any part of the described property for any purpose until the described public improvement is completed and accepted by CITY for maintenance or proper security pursuant to this Agreement and Moscow City Code 5-I-I 0 has been posted XII. VENUE AND ATTORNEY FEES The parties agree that should any provision of this Agreement be litigated in the future, venue for such litigation shall be with the District Court of the Second Judicial District of the State of ldaho in and for the County of Latah. XIII MODIFICATION DEVELOPERS and CITY agree that the provisions of this Agreement may be modified only upon written request of DEVELOPERS accompanied by a complete set of development plans, and acceptance of such modification by the City CounciL XIV. COVENANTS TO RUN WITH LAND This Agreement shall run with the land affected hereby, as shall all covenants contained herein, and shall be to the benefit of CITY, its successors and assigns. This Agreement shall be recorded with the Latah County Recorder DEVELOPMENT AGREEMENT MEADOW VIEW ADDITION PAGE4 ---PAGE BREAK--- REREC(JRI) 428562 XV NOTICES Any notice required or called for by this Agreement shall be deemed served upon the party to whom it is sent when delivered by certified or registered United States Mail to the following addresses DEVELOPERS CITY Gary and Kathleen Tribble 128 East Third Street Moscow, ID 83843 Steven and Roxanne Bush 384 Meadowlark Lane Moscow, ID 83843 Paul C. Agidius, Mayor City of Moscow P 0 Box 9203 Moscow, Idaho 83843 IN WITNESS WHEREOF, the parties have executed this Agreement to be effective the date first above written. CITY Paul C. Agidius, Mayor ATTEST DEVELOPMENT AGREEMENT MEADOW VIEW ADDITION Roxann PAGES ---PAGE BREAK--- STATE OF IDAHO ) ) ss County of Latah ) RER£CilRO 428562 . On thts 1)\\J ;!..Jday of , 1997, before me, the undersigned, a Notary in and for said State, persona appeared Gary Tribble in his official capacity as a duly authorized agent of Meadow iew Addition, known to me .JR be the person whose name is subscribed to the foregoing and acknowledged to me that!hËJshe executed the same. L IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and year hereinabove written. STATE OF IDAHO ) ) ss County of Latah ) NOTARY PUBLIC for Idaho Residing at My Commission expires ;J \H \0 I On this c:AV · :..(jay of , 1997, before me, the undersigned, a Notary in and for said State, personally . peared Kathleen Tribble in her official capacity as a duly authorized agent of Meadow · tew Addition, known to me to l)le. the person whose name is subscribed to the foregoing and acknowledged to me that he/she'j)xecuted the same. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and year hereinabove written. DEVELOPMENT AGREEMENT MEADOW VIEW ADDITION NOTARY PUBLIC for Idaho Residing at i\J:u'3 W W My Commission expires \ PAGE6 ---PAGE BREAK--- 428562 STATE OF IDAHO ss County of Latah On this G\S! day of , 1997, before me, the undersigned, a Notary in and for said St e personally appeared Stephen Bush in his official capacity as a dul y authorized agent of Meadow View Addition, known to me to be the person whose name is sufficribed to the foregoing and acknowledged to me that he/she executed the same. IN WITNESS WHEREOF, I hereunto set my hand and affixed my official seal the day and inabove written. STATE OF IDAHO County of Latah ss NOTARY PUBLIC fo, Idaho Res i d in g a t t\}J:;yS{ My Commission expires: e£lct h 1!1 On this at\ day of , 1997, before me, the undersigned, a Notary in and for said e personally appeared Roxann Bush in her official capacity as a' uly authorized agent of Meadow View Addition, known to me to be the person whose name is subscribed to the foregoing and acknowledged to me that he/she executed the same. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official sealseal the day and year hereinabove written. DEVELOPMENT AGREEMENT MEADOW VIE\I ADDITION NOTARY PUBLIC for Idaho Residing at My Commission expires: ;l:\4 PAGE 7 ---PAGE BREAK--- RERWJR[) 428562 EXHIBIT PROPERTY DESCRIPTION A parcel of land located in Lof 25 of Seciion 16, T39N, RSW BM, and being more parlicularly described as follows: Beginning at the southwest corner of the NW £ of Section 16, T39N, R5W BM, thence South, 39.53 feet; thence N 89'24'11" E, 40.00 feet to the southwest corner of said Lot 25; thence along sold south line N 89'24'11" E, 200.00 feet to the TRUE POINT OF BEGINNING. Thence N 0'01'19" E. 220.00 feet; Thence N 89'24'07" E. 429.64 feet to the east line of said Lot 25; Thence S 0'13'27" E. 220.00 feet to the southeast corner of sold Lot 25; Thence S 89'24'11" W, 430.58 feet to the TRUE POINT OF BEGINNING. Parcel contains 2.17 acres, 94,620 square feet. ;}Jf.CIQ JJ,;ii PoBt!:i 3 (1t:5CCUJ tb !?38"43 Gl-4-tNG t\.vSSf!LL ---PAGE BREAK--- EXH l BIT aFimh san. sew. rt,\ ii EJO B.rSOO • .0 G. _ 31 vertJt. . !as . . _....BJ25J!ln @l . . . 2'!1950. 00 . . 2,495.00 . . · · f.J0144.D.OO