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PARKLAND DEDICATION AGREEMENT THIS AGREEMENT is entered into this 28th day of 1997, by and between RICHARD BEEBE and ROSETTA BEEBE, husband and wife, EDDIE SHIPLEY AND JUDI SHIPLEY, husband and wife, and RALPH WEIGLEY and CHRISTINE WEIGLEY, husband and wife, jointly and individually (hereinafter "DEVELOPERS"), and the CITY OF MOSCOW, a municipal corporation of the State of Idaho, 206 East Third Street, Moscow, Idaho 83843 (hereinafter the "CITY"); WITNESSETH WHEREAS, DEVELOPERS and CITY have entered into Option Agreement to Purchase Real Property which, upon its completion, will satisfy Meadow View Estates' parkland dedication requirement pursuant to Moscow City Code §5-1-S(F); and WHEREAS, good and valuable consideration has been exchanged between DEVELOPERS and CITY as part of the Option Agreement to Purchase Real Property; and WHEREAS, there exists a possibility that land made the subject of Option Agreement to Purchase Real Property will not ultimately result in the receipt by CITY of the value of parkland required to be dedicated by Meadow View Estates as required by Moscow City Code §5-1-S(F), should the Option Agreement to Purchase Real Property fail to be fully completed; and WHEREAS, the parties wish to ensure that the CITY receives either land through the Option Agreement to Purchase Real Property or cash in lieu of land which meets Meadow View Estates' parkland dedication requirement in the value of THREE THOUSAND, FOUR HUNDRED AND FIFTY AND NO/ONE HUNDREDTHS ($3,450.00) DOLLARS through this Parkland Dedication Agreement; and WHEREAS, this Parkland Dedication Agreement will ensure that the CITY gets either the parkland or value of the parkland; NOW, THEREFORE, DEVELOPERS and CITY hereby agree as follows In consideration recited and paid by CITY to DEVELOPERS in Option Agreement to Purchase Real Property between DEVELOPERS and CITY, the receipt of which is hereby acknowledged in hand paid by DEVELOPERS, and for other good and valuable consideration, DEVELOPERS and CITY agree as follows 1. TERMS AND CONDITIONS DEVELOPERS, jointly and individually, agree that, should the CITY not acquire the property shown in Exhibit"!" as Parcel from DEVELOPERS pursuant to PARKLAND DEDICATION AGREEMENT Pagel 97-12 ---PAGE BREAK--- Option Agreement to Purchase Real Property between DEVELOPERS and CITY referred to herein, DEVELOPERS agree to pay CITY the amount of THREE THOUSAND, FOUR HUNDRED AND FIFTY AND NO/ONE HUNDREDTHS ($3,450.00) DOLLARS on or before January I, 1999, which amount represents the value of the parkland required to be dedicated in behalf of "leaJow View Estates pursuant to Moscow City Code §5-l-5(F) The parties understand and agree that this Parkland Dedication Agreement extinguishes automatically upon the receipt of good and sufficient title to the property shown in Exhibit as Parcel by the CITY from DEVELOPERS. 2. BINDING ON HEIRS This Parkland Dedication Agreement shall be binding upon the heirs of the parties, the assigns of the parties, and any successor in interest of the parties described herein. 3. VENUE AND ATTORNEYS FEES The parties agree that should any prov1s1ons of this Parkland Dedication 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 Idaho, in and for the County of Latah. 4. MODIFICATION DEVELOPERS and the CITY agree that the prov1s1ons of this Parkland Dedication Agreement may be modified only upon written request of DEVELOPERS and acceptance of such modifications by the City CounciL IN WITNESS WHEREOF, DEVELOPERS and CITY have executed this Parkland Dedication Agreement the day and year first set forth above. DEVELOPERS Richard Beebe and Rosetta Beebe, Husband and Wife 'RiChard Beebe PARKLAND DEDICATION AGREEMENT CITY City of Moscow, Idaho Paul C Agidius, Mayor Pamela Palmer, Acting Mayor ATTEST Page 2 ---PAGE BREAK--- Eddie and Judi Shipley, Husband and W1fe ! ( ( 2J l/)t , k \ C Eddie Shipley 6 lctrihi/ v STATE OF IDAHO ) ) ss County of Latah ) ACKNOWLEDGMENT On this day of ;{p3;_f , 1997, before me, a Notary Public in and for said State, appeared Richard Beebe and Rosetta Beebe, husband and wife, known to me to be the persons named above and acknowledged to me that they executed the foregoing document. PARKLAND DEDICATION AGREEMENT G0 t r . NOTARY PWBLIC for Idaho Residing at 1 (I 5. M'*;u AN' • My Commission expires: B · 2. • ' • Page 3 ---PAGE BREAK--- STATE OF IDAHO ) ) ss County of Latah ) ACKNOWLEDGMENT On this )5 day of I , 1997, before me, a Notary Public in and for said State, appeared Eddie Shipley and Judi Shipley, husband and wife, known to me to be the persons named above and acknowledged to me that they executed the foregoing document. STATE OF IDAHO ) ) ss County of Latah ) NOTARY PU LIC for Idaho Residing at I ( \ S: h, My Commission expires ACKNOWLEDGMENT ft_ C I C. - z r l.•Hlt.> On this 0 day of Aft,) , 1997, before me, a Notary Public in and for said State, appeared Ralph Weigley and Christine Weigley, husband and wife, known to me to be the persons named above and acknowledged to me that they executed the foregoing document. Agreemcnt'i'.lkebe6-Parkland Dedication Agreemcntidm PARKLAND DEDICATION AGREEMENT Pagc4 ---PAGE BREAK--- 11 \ \ \ I Q) c " 0 / \ 1\ \ I \ \ \ . \ • \ I \ I\ \ \ : \ \ \ \1 l ' \i \ \ \I . \ \ \ t I t I \ \ \ \ \ \ \ i i / \ \ \ \ 'I \ \ I \ \ \ < .M " \I \ \ \ \ \ / 0 e 0 0 - 0 ' 8 0 0