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DEVELOPMENT AGREEMENT BRENT DEMEERLEER AND THE CITY OF MOSCOW, IDAHO 445592 THIS AGREEMENT is entered into thise day of /111 6-1/.f T , 1999, by and between BRENT AND LYNN DEMEERLEER, husband and wife (hereinafter referred to 'DEVELOPERS'), being Developers of real property as described herein, and City of Moscow, Idaho, a Municipal Corporation of the State of Idaho (hereinafter referred to as 'CITY'); WITNESSETH: WHEREAS, DEVELOPERS desire to begin further development of the property at 605 West Third in the City of Moscow, Latah County, Idaho, as shown on Exhibit attached hereto and incorporated herein by this reference; and WHEREAS, DEVELOPERS understand that a waiver of public improvements may be available pursuant to the Moscow City Code, but DEVELOPERS specifically does not wish to request such a waiver and wishes to enter into this Agreement; and WHEREAS, DEVELOPERS understand that improvements required herein are standards required for subdivisions pursuant to Moscow City Code Title 5, Chapter 1 and are authorized by Idaho Code Section 67-6513; and WHEREAS, DEVELOPERS agree that the public improvements required herein are necessary to 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, the public, or imposing substantial additional costs upon current City residents to accommodate the proposed subdivision and redevelopment; and WHEREAS, CITY desires to ensure that public improvements consisting of a waterrnain and fire hydrant are constructed; and WHEREAS, DEVELOPERS have 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, DEVELOPERS and CITY hereby agree as follows: I. PROPERTY AFFECTED: This Agreement affects property located within the City of Moscow, Idaho, commonly known as 605 West Third Street in the City of Moscow, Latah County, Idaho, as shown on Exhibit attached hereto and incorporated herein by this reference. II. PUBLIC IMPROVEMENTS: DEVELOPERS agree to install, at DEVELOPER'S expense, all public improvements required by Moscow City Code Sections 5-1-5(D) and including but not limited to a fire hydrant and a 6-inch waterrnain to the fire hydrant from an existing City waterrnain. The design and all plans and drawings for such required public improvements shall be approved by the City Engineer and Idaho Division of Environmental Quality prior to the beginning of any construction of any such public improvements. Ill. TERM: 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. DEVELOPMENT AGREEMENT Page 1 of 4 ---PAGE BREAK--- IV. CITY'S COVENANT: 445592 CITY shall issue building pennits for DEVELOPER'S development of the 605 West Third property (upon payment of penni! fees, public utility inspection fees of 0. 75% 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 DEVELOPERS have paid or after adequate security as described in sections VI AND VII has been provided to ensure proper construction of the required public improvements. V. DEVELOPER'S COVENANT: DEVELOPERS agree as follows: A. DEVELOPERS agree to furnish and install, at DEVELOPER'S expense, a 6-inch watennain and fire hydrant to the property at 605 West Third Street described in this agreement. all in accordance with the approved design and plans. to City standards, during and under the tenns of this Agreement. B. DEVELOPERS agree that DEVELOPERS shall install the required improvements within four months from the date of the issuance of the first building penn it; and C. If DEVELOPERS fail to complete installation of the 6-inch watennain and fire hydrant within four months from the date of the issuance of the first building penn it, to City standards and as per the approved plans, CITY shall withhold final inspections, revoke occupancy of the entire development, revoke any applicable building penni! issued to DEVELOPERS by CITY and shall cease to issue further building penn its for the affected property until such public improvements required herein this Agreement are completed in accordance with the approved engineering plans. VI. SECURITY FOR IMPROVEMENTS: CITY agrees that upon receipt of the security described in section VII it will issue building pennits upon payment of penni! fees, public utility inspection fees of 0.75% of the estimated construction costs and satisfaction of CITY code requirements for the DEVELOPER'S development. If DEVELOPERS fail to complete construction of the required public improvements, as per the approved plans. within four months from the date of the issuance of the first building penn it CITY may attach the security and cause the improvements to be made. Any engineering or construction costs in excess of the security shall 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: DEVELOPERS agree to provide security in the amount of thirty- two thousand four hundred dollars ($32,400.00) for public improvements as identified and described herein. The security shall be in the fonn of cash, construction bond, irrevocable letter of credit from a certified bank or financial institution, or such other fonn of security acceptable to CITY. Such security shall be provided to CITY prior to the issuance of building penn its by CITY. The security must be effective for a minimum period of seven months from the date of the issuance of the first building penn it. If the public improvements identified and described in section II are not completed by that time, CITY may claim the security and complete the said improvements. The amount of the security may, from time to item, 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 DEVELOPERS or the security or financial institution, or the value or tenns thereof shall be compromised in any way, CITY shall immediately revoke any building pennits issued pursuant to the tenns contained herein, and further, DEVELOPERS shall hold CITY hannless for any and all causes of action or damages alleged to have been sustained because of the revocation of such building pennits. If any building pennits are revoked pursuant to this section, such building pennits shall be re issued upon receipt by CITY of new or additional security as required herein. DEVELOPMENT AGREEMENT Page2 of 4 ---PAGE BREAK--- VIII. CONSTRUCTION DRAWINGS: 445592 DEVELOPERS agree 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 waived by the City Engineer or is otherwise modified by a subsequent development agreement between the parties. IX. FAILURE TO COMPLY: DEVELOPERS agree to pay all expenses incurred by CITY in enforcing this Agreement. X. BINDING 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. XI. OCCUPANCY: DEVELOPERS agree that no person shall be allowed to construct improvements or to occupy any part of the redevelopment of 605 West Third Street for any purpose until the described public improvements are completed and accepted by CITY for maintenance or as otherwise provided for by a subsequent development agreement between the parties. Such a subsequent development agreement may provide for the posting of security as provided for in Moscow City Code Section 5-1-10. XII. AVENUE 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 Idaho in and for the County of Latah. XIII. MODIFICATION: DEVELOPERS and CITY agree that the provisions of this Agreement may be modified only upon request of DEVELOPERS 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. 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, Idaho Recorder. DEVELOPMENT AGREEMENT Page 3 of 4 ---PAGE BREAK--- 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 addressed: DEVELOPERS: CITY: XVI. UNDERSTANDING: Brent and Lynn Demeerleer 3609 Reams Road Moscow, ID 83843 Phone: (208)882-6158 Marshall H. Comstock, Mayor City of Moscow P.O. Box 9203 206 E. 3rd Street Moscow, ID 83843 Phone: (208)883-7000 FAX: (208)883-7018 DEVELOPERS have read and understood this Agreement and the contents thereof and has had the opportunity to avail itself of legal and of other counsel before entering into this Agreement and before signing it, and hereby enters into it voluntarily, willingly, and without inducement. 445592 IN WITNESS WHEREOF. the parties have executed this Agreement to be effective the date first written. ' Brent Demeerleer J l Lynn emeerleer STATE OF IDAHO ) ) ss County of Latah ) On this day of • 1999, before me, the undersigned, a Notary in and for said State, personally app ed Brent Demeerleer and Lynn Demeerteer, husband and wife, known to me to be the persons described in the above document and acknowledged to me they executed the same. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and year herein abO'Ve'Wffitlln. * ' • . · (s l)l :J r- 1 Q) . ! . 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