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DEVELOPMENT AGREEMENT QUAIL RUN SECOND ADDITION TO THE CITY OF MOSCOW o " THIS AGREEMENT is entered into this day of .-VI I bY\ tf£.. , 1998, by and between G & H Enterprises, (referred to as "DEVELOPER"), being Developer of real property as described herein, and City of Moscow, Idaho, a Municipal Corporation of Idaho (referred to as "CITY") WITNESSETH WHEREAS, DEVELOPER desires to begin development of the property known as Quail Run Second Addition to the City of Moscow, Latah County, Idaho; 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 waiver and wish to enter into the Agreement herein; and WHEREAS, DEVELOPER enters into this Development Agreement of its own free will and accord, without coercion and without inducement and at DEVELOPER's request; and WHEREAS, DEVELOPER agrees that the public improvements required herein are necessary to provide for mitigation of the affects 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 WHEREAS, DEVELOPER and CITY believe that, without the public improvements required herein, CITY would not be able to otherwise provide for mitigation of the affects 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 water, sanitary sewer, storm sewer, street, curbs and sidewalks are constructed; NOW THEREFORE, DEVELOPER and CITY hereby agree as follows I. PROPERTY AFFECTED This Agreement affects property located within the City of Moscow, Idaho, known as Quail Run Second Addition to the City of Moscow, Latah County, Idaho, and as shown in Exhibit attached hereto and incorporated herein by this reference. IL PUBLIC IMPROVEMENTS All public improvements required by Moscow City Code Section 5-1-S(D) and including but not limited to water, sewer, storm sewer, streets, curbs, and sidewalks. DEVELOPMENT AGREEMENT Quail Run 2"d Addition Page 1 437824 ---PAGE BREAK--- 437824 All plans and drawings for such required public improvements shall be approved by the City Engineer prior to the beginning of any construction of any such public Improvements. III. TERM: This Agreement shall remain in effect until the public improvements required herein are constructed and installed and such public improvements are accepted by the CITY for maintenance. IV. CITY'S COVENANT CITY shall issue building permits for DEVELOPER's development of Quail Run Second Addition or any approved phase thereof (upon payment of permit fees, public utility inspection fees of 0. 75% of the City Engineer's estimated construction costs and satisfaction of CITY code requirements) only after construction and installation of all public improvements and acceptance of such by the CITY for maintenance or after DEVELOPER has paid or after adequate security as described in Moscow City Code Section 5-1-10 has been provided to ensure proper construction of the required public improvements. CITY agrees that payment of the fee in lieu of parkland dedication described in Section VIII of this Agreement satisfies parkland dedication. V DEVELOPER'S COVENANT DEVELOPER agrees to construct, at its sole expense, to CITY standards and in accordance with approved engineering plans for Quail Run Second Addition, the public improvements described in Section II of this Agreement. VL 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 0.75% of the City Engineer's estimated construction costs and satisfaction of City Code requirements) for DEVELOPER's development. If DEVELOPER fails to complete installation of the public improvements as required by CITY, 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 expenses 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 construction services shall be let by bid, and subject to the laws of the State of Idaho relative to the letting of such bids. DEVELOPMENT AGREEMENT Quail Run znd Addition Page 2 ---PAGE BREAK--- 437824 VII FORM OF SECURITY DEVELOPER agrees to provide security in an amount to be negotiated and accepted by CITY prior to construction of improvements on the property. 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 one hundred eighty (180) 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 improvements shall be constructed at least ninety (90) days prior to the expiration date of the security If the public improvements identified are not completed at that time, 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. 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. If for any reason the security for such improvements shall be withdrawn by DEVELOPER 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 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 are revoked pursuant to this or any subsequent Development Agreement, such building permits shall be re-issued upon receipt by CITY of new or additional security as required therein. VIII. PARKLAND DEDICATION In accordance with Moscow City Code Section 5- l DEVELOPER agrees to pay THREE THOUSAND ONE HUNDRED FIFTY DOLLARS ($3,150.00) to CITY in satisfaction of CITY's requirement of dedication of parkland prior to the issuance of building permits. IX 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 waived by the City Engineer or is otherwise modified by a subsequent development agreement between the parties. DEVELOPMENT AGREEMENT Quail Run Addition Page 3 ---PAGE BREAK--- X F AlLURE TO COMPLY 437824 DEVELOPER agrees to pay all expenses incurred by CITY in enforcing this Agreement. · XL 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. XII. OCCUPANCY DEVELOPER agrees that no person shall be allowed to construct improvements or to occupy any part of Quail Run Second Addition 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. XIIL 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. XIV. MODIFICATION DEVELOPER and CITY agree that the provisions of this Agreement may be modified only upon written request of DEVELOPER accompanied by a complete set of development plans, and acceptance of such modification by the City Council or by a subsequent development agreement between the parties. XV 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. XVI 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: DEVELOPMENT AGREEMEN1 Quail Run 2"d Addition Page 4 ---PAGE BREAK--- c, DEVELOPER CITY: G & H Enterprises 495 Quail Run Drive Moscow, Idaho 83843 Telephone; (208) 882-4652 Marshall H. Comstock, Mayor City of Moscow P 0 Box 9203 Moscow, Idaho 83843 Telephone: {208) 883-7000 FAX (208) 883-7018 IN WITNESS WHEREOF, the parties have executed this Agreement to be effective the date first above written. DEVELOPER G & H ENTERPRISES Giltiert F. Myer;;:Gt; Clerk STATE OF IDAHO ) ) ss County of Latah ) 437824 On this f) day of kc , 1998, before me, the undersigned, a Notary in and for said State, pasonauy appeared Jim Gress, in his official capacity as NoNH. ,f?o &le&-Wr of G & H Enterprises, known to me to be the person whos naille is subscribed to the foregoing and acknowledged to me that he executed the same on behalf of G & H Enterprises. · ,,,ÙWITNESS WHEREOF, I have her s han affixed my official · seal-tht)-day_ and year heremabove wntten. · ' ;e : c L ' . . ' ' DEVELOPMENT AGREEMENT Quail Run znd Addition Page 5 ---PAGE BREAK--- ·ÝÞ·ß·· G ( un Hinson (unplatted) . 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