Full Text
• .HJ_r c: f Ub U3: 15p MLDC [PHONE REDACTED] p. 1 497071 DEVELOPMENT AGREEMENT FOR THE MORTON STREET 5-PLEX PUD BETWEEN HECO DEVELOPMENT, L.L.C. AND THE CITY OF MOSCOW, IDAHO THIS AGREEMENT is entered into this .J7 day of l.L!! , 2005, by and between HECO DEVELOPMENT, L.L.C., at P.O. Box 171, Colfax, Washington, 99111 (hereinafter referred to as "DEVELOPER"), being Developer of real property as described herein, and the City of Moscow, Idaho, a Municipal Corporation of the State of Idaho, 206 East 3'd Street, Moscow, Idaho, 83843 (hereinafter referred to as "CITY"); WITNESSETH: WHEREAS, DEVELOPER desires to develop property at 106 Morton Street (to be known as the Morton Street 5-Plex PUD) in the City of Moscow, Latah County, Idaho, more particularly described as follows: Commencing at a point 880 feet North and 30 feet \Vest of the Quarter Section Corner between Section 7 and 8, Township 39 North, Range 5 West, Boise Meridian, said point being on the \Vest line of Main Street in Moscow, Idaho and 80 feet West and 60 feet North from the Northwest corner of Block 10 of Moore's Addition to the City of Moscow, Idaho, running thence West 154 feet; thence North 80 feet; thence East 154 feet; thence South 80 feet to the point of beginning. Subject To a certain right of way to the State of Idaho as more fully appears in instrument recorded in Book ISO of Deeds at Page 59, Records of Latah County, Idaho. WHEREAS, DEVELOPER understands that improvements required herein are standards required pursuant to Moscow City Code Title 5, Chapter l and are authorized by Idaho Code Section 67- 6513 and Section 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 street construction, curb and sidewalk construct] on, and sanitary sewer main reconstruction are completed; and WHEREAS, DEVELOPER understands that a waiver of public improvements is available pursuant to the Moscow City Code, but DEVELOPER specifically does not wish to request such a -..vaivcr and vi:;hes to enter into this Agreement; and WHEREAS, DEVELOPER enters into this Development Agreement of its own free will and ljCcord, 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; MORT0:-.1: STREET 50?LEX PliO DEVELOPMENT M}RI::.1ME;\T PAGE!OF6 2005-34 ---PAGE BREAK--- u:o lSp MLDC [PHONE REDACTED] p.2 497071 NOW, THEREFORE, DEVELOPER and CITY hereby agree as follows: I. PROPERTY AFFECTED: This Agreement affects property located at 106 Morton Street (to be known as the Morton Street 5-Plex PUD) within the City of Moscow, Latah County, Idaho, more particularly described as follows: Commencing at a point 880 feet North and 30 feet West of the Quarter Section Corner between Section 7 and 8, Township 39 North, Range 5 \Vest, Boise Meridian, said point being on the \Vest line of Main Street in Moscow, Idaho and 80 feet West and 60 feet North from the Northwest corner of Block 10 of Moore's Addition to the City of Moscow, Idaho, running thence West 154 feet; thence North 80 feet; thence East 154 feet; thence South 80 feet to the point of beginning. Subject To a certain right of way to the State of Idaho as more fully appears in instrument recorded in Book ISO of Deeds at Page 59, Records of Latah County, Idaho. II. PUBLIC IMPROVEMENTS: DEVELOPER agrees to install, at DEVELOPER's expense, public improvements required by Moscow City Code Sections 5-I -4 and 5-l-5 consisting of street construction, curb and sidewalk construction, and sanitary sewer main reconstruction; all in accordance with City Standards and approved engineering plans. Public sidewalk to extend the frontage of property along Morton. III. TEfu\4: This Agreement shall remain in effect until the public improvements required herein are constructed and installed and such public improvements are accepted by CITY for maintenance. IV. CITY'S COVENANT: CITY shall issue building pennits for DEVELOPER's property described above (upon payment of permit fees, public utility inspection fees of one percent (1.00%) of the City Engineer's estimated construction costs and satisfaction of Moscow City Code requirements) only after construction and installation of all public improvements and acceptance of such by CITY for maintenance or after adequate security as described in Moscow City Code Sections Swl-10 and as described in sections VI and VII herein has been provided to ensure proper construction of the required public improvements. V. DEVELOPER'S COVENAJ\i'T: • A. DEVELOPER agrees to construct, at DEVELOPER's expense, street construction, curb and sidewalk construction, and sanitary sewer main reconstruction all jn accordance with CffY approved engineering design plans, to CITY standards, during and under the terms of this Agreement; and B. DEVELOPER agrees to furnish to CITY, at DEVELOPER's expense, engineering design plans (for the required public improvements) prepared by an Idaho Licensed Professional Engineer. Such plans shall be approved by the Moscow City Engineer prior to beginning any construction; and MORTON STREET 5#PLEX PUD DEVELOPMENT AGiýEEW.ENT PAGE20F6 ---PAGE BREAK--- ...Jun_ c.1 uü 03:t5p MLDC 50S 561 7551 p. 3 497071 C. DEVELOPER agrees that DEVELOPER shall complete street construction, curb and sidewalk construction, and sanitary sewer main reconstruction within nine months from the date of the issuance of the firSt building penni!; and D. If DEVELOPER fails to complete installation of the required public improvements within nine months from the date of the issuance of the first building pennit, to City standards and as per the approved plans, CJTY shall revoke occupancy of the entire development and shall revoke any applicable permit issued to DEVELOPER by CITY. VI. SECURITY FOR IMPROVEMENTS: In lieu of DEVELOPER's construction and installation of all public improvements required herein and CITY'S acceptance of such for maintenance, CITY agrees that upon receipt of the adequate security described in Moscow City Code Section 5-1-10 it will issue building permits (upon payment of permit fees, public utility inspection fees of one percent of the City Engineer's estimated construction costs and satisfaction of Moscow City Code requirements) for DEVELOPER's development. If DEVELOPER fails to complete installation of the public improvements as required by CITY within nine months from the date of the issuance of the first building permit CITY may attach the security and cause the improvements to be made or CITY may cause improvements to be made and attach a lien on the property in the amount of CITY expense incurred as a result of DEVELOPER's failure to comply with this Agreement. Any engineering or construction costs in excess of the security shall be borne by DEVELOPER. Any additional constTuction services shall be performed subject to the laws of the State of Idaho relative to publjc works contracting and bidding. Vll. FORM OF SECURITY: DEVELOPER agrees w provide security for the public improvements in the amount to be detennined by the City Engineer. This security shall be in the form of cash, 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 pennits by CITY. The security must be effective for a minimum period of one year 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 improvements shall be constructed at least ninety (90) days prior to the expiration date of the security. If the public improvements identified and described in section II are not completed within nine months from the issuance of the first building pennlt, CITY may claim the security and complete the said improvements. The amount of the security may, from time to time, be modified as deemed appropriate by the City Engineer as conditions warrant. If for any reason the security for such improvements shall be withdrawn by DEVELOPER or the security or f inancial institution, or the value or tenns thereof shall be compromised in any way, CITY shall immediately cease issuing building permits and shall revoke any building pennits and/or occupancy permits issued pursuant to the terms contained herein, and further, DEVELOPER 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 and/or occupancy permits are revoked pursuant to this sectlon, such building permits and/or occupancy pennits shall be re-issued upon receipt by CITY of new or additional security as required herein. :VIORTON STREET 5·PLEX PUD JEVELOPMENT AGREE\r1ENT ---PAGE BREAK--- VIII. PARKLAND DEDICATION: No parkland dedication is required for this development. IX. STREET TREES: P· " 497071 DEVELOPER agrees to voluntarily retain existing street trees to satisfy City of Moscow Standard Construction Specifications and Drawings (Resolutions Nos. 97-04 and 00-02) requirement of street trees for the land-use action. X. CONSTRUCTION DRAWINGS: DEVELOPER agrees to furnish, prior to acceptance by CITY of the public improvements as required herein, one set of accurate, complete, mylar final construction drawings for the public improvements described herein, unless such requirement is \vaived by the City Engineer. XI. F AlLURE TO COMPLY: DEVELOPER agrees to pay all expenses incurred by CITY in enforcing this Agreement. XII. BJNDING ON HEIRS, ASSIGNS AND PURCHASER: This Agreement shall be binding upon the heirs, assignees of the parties, and subsequent purchasers of the property described herein. XIII. OCCUPANCY: DEVELOPER agrees that no person shall be allowed to occupy any part of the development for any purpose until the described public improvements are completed and accepted by the CITY for maintenance or as otherwise provided for by a subsequent development agreement between the parties. XIV. VENUE Al'ID 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 Idaho in and for the County of Latah. XV. MODIFICATION: DEVELOPER and CITY agree that the provisions of this Agreement may be modified only upon request of DEVELOPER accompanied by a complete set of development plans, and acceptance of such modification by the Moscow City Council or by a subsequent development agreement between the parties. MORTO?\ STREET 5··PLEX PUD DEVELOP\-1ENT AGREEMFNT PAGE 4 OF 6 ---PAGE BREAK--- JUI'l c:l Ub U