Full Text
. . , 403352 DEVELOPMENT AGREEMENT THIS AGREEMENT, is entered into this 19th day of December, 199..4, by and between Glenn H. Petry and Melodie K. Petry, husband and wife (hereinafter referred to as DEVELOPERS) being developers of land and premises included in this Agreement, and the City of Moscow, a Municipal Corporation of the State of Idaho (hereinafter referred to as "CITY"); WITNESSETH: WHEREAS, the DEVELOPERS are owners of real property within the City of Moscow upon which DEVELOPERS intend to construct multi-family housing and related improvements; and, WHEREAS, the CITY desires to ensure that all public improvements within and adjoining the premises are properly constructed and installed by DEVELOPERS; NOW THEREFORE, the parties hereby agree as follows: I. PROPERTY AFFECTED: This Agreement affects the premises within the City of Moscow, Latah County, Idaho to wit: Lots 1, 2, 3, 4, 5 and 6 , Block 3, Lieuallen's 4th Addition to the City of Moscow, as shown by the recorded plat thereof. TOGETHER WITH the south 5 feet of vacated First Street adjacent to said lots. EXCEPTING THEREFROM the south 5 feet of said Lots 1, 2 and3. II. PUBLIC IMPROVEMENTS AND GRADING: The DEVELOPERS agrees to install, at their expense, including, but not limited to: all earthwork, grading, base aggregate, asphalt paving, curb, and sidewalk in accordance with approved plans, to city standards during and under the terms of this Agreement. The Development Agreement Cost Estimate is attached as Exhibit A and incorporated herein by this reference. All plans and drawings shall be approved by the City Engineer prior to the beginning of any construction of improvements. III. TERM: This Agreement shall remain in effect for FIFTEEN ( 15) years or until all public improvements described herein are constructed or otherwise provided for in this Agreement, and said public improvements have been accepted in writing by the CITY for maintenance. IV. CITY'S COVENANT: The CITY shall issue building permits for the construction of private improvements to be located on said premises, (upon payment of permit DEVELOPMENT AGREEMENT PAGE 1 94-81 ---PAGE BREAK--- I 40\952 fees, public utility inspection fees of 0.75% of estimated construction costs and satisfaction of City code requirements) only after all public improvements have been constructed as required herein and said public improvements have been inspected and accepted by the City Engineer in writing, or after adequate security as described in paragraphs VI and VII has been provided to ensure proper construction of the required public improvements. V. DEVELOPERS' COVENANT: The DEVELOPERS agree as follows: A. DEVELOPER shall install, at his expense, public improvements, including, but not limited to: all earthwork, grading, base aggregate, asphalt paving, curb, and sidewalk in accordance with approved plans, to city standards during and under the terms of this Agreement. B. If the DEVELOPERS fail to complete all public improvements within ONE HUNDRED AND FIFTY (150) calendar days of the issuance of the first building permit, the CITY may utilize the security specified in paragraphs VI and VII to complete the work on said public improvements. The DEVELOPERS further agree that if DEVELOPERS fail to complete all public improvements within ONE HUNDRED AND FIFTY (150) calendar days from the date of issuance of the first building permit, the CITY shall cease to issue further building permits for the affected property until such improvements are completed. VI. SECURITY FOR IMPROVEMENTS: The CITY agrees that upon receipt of the security described in Paragraph VII it will issue building permits (upon payment of permit fees and public utility inspection fees of 0.75 percent (.075%) of estimated construction costs and satisfaction of City code requirements) for improvements located on said premises. If the DEVELOPERS fail to complete construction of all of the public improvements within one hundred and fifty (150) calendar days from issuance of the building permit, the 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 the DEVELOPERS. VII. FORM OF SECURITY: The DEVELOPERS agree to provide security in the amount of TWENTY-TWO THOUSAND FOUR HUNDRED AND FIFTY DOLLARS 22,450.00) for public improvements as identified and described in paragraph VI above. 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 by the CITY. Such security shall be provided to the CITY prior to the issuance of building permits by the CITY. The security must be effective for a minimum period of 365 days, or 180 days from the date of issuance of the building permit, whichever is longer. 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 paragraph V are not completed DEVELOPMENT AGREEMENT PAGE 2 ---PAGE BREAK--- ' 409952 at that time, the 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 the DEVELOPERS or the surety or fmancial institution, or the value or terms thereof shall be compromised in any way, the CITY shall immediately revoke any building permits issued pursuant to the terms contained herein, and further, the DEVELOPERS shall hold the 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 section, such permits shall be re-issued upon receipt by the CITY of new or additional security as required herein. VIII. FAILURE TO COMPLY: If either party fails to comply with the terms of this agreement, the other party, after ten ( 1 0) days written notice, may seek specific performance of the Agreement, and in the case of failure of the DEVELOPERS to comply with the terms of this Agreement, the CITY may attach the security to complete the improvements. The DEVELOPERS agree to pay all expenses in enforcing the terms of this Agreement. IX. BINDING ON HEIRS, ASSIGNS AND PURCHASERS: This agreement shall be binding upon the heirs, assignees of the parties, and purchasers of the property described herein. X. OCCUPANCY: DEVELOPERS agree that no person shall be allowed to occupy any structure on the described property until such time as the public improvements are completed and accepted by the CITY for maintenance. XI. 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 for the State of Idaho in and for the County of Latah. The prevailing party to the action shall be awarded its reasonable costs and attorney's fees incurred in such litigation. XII. MODIFICATION: DEVELOPERS and the CITY agree that the provisions of this agreement may be modified only upon written request of the DEVELOPERS accompanied by a complete set of development plans, and acceptance of such modification by the City Council. XIII. 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 the CITY, its successors and assigns. This Development Agreement shall be recorded with the Latah County Recorder. DEVELOPMENT AGREEMENT PAGE3 ---PAGE BREAK--- 409952 XIV. EFFECTIVE DATE: This Agreement shall take effect upon the date noted below. 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: DEVELOPER: CITY: Glenn & Melodie Petry NW 1715 State Street Pullman, Wa 99163 Mayor City of Moscow P.O. Box 9203 Moscow, ID 83843 IN WITNESS WHEREOF, the parties have executed this agreement to be effective the date first above written. DEVELOPER: CITY OF MOSCOW: Glenn H. Petry DEVELOPMENT AGREEMENT PAGE4 ---PAGE BREAK--- 409952 ACKNOWLEDGMENT On this 017 « day of p , 199!Zbefore me, a Notary Public of the State of Idaho, personally appeared Paul C. Agidius and Elaine Russell in their official capacities as Mayor and City Clerk of the City of Moscow, known to me to be the persons described in 7- . al;Jqve document and acknowledged to me they executed the same. . . • - : ) . . . ·f f' . I: ,J ACKNOWLEDGMENT On this ¬ day of 199.f: before me, a Notary Public of the State of , personally appeared Glenn H. Petry, known to me to be the person described in the above document and acknowledged to me that he executed the same. £)¹/7;7o L. , . . 6 . . . Notary Public residing at . . · · ' . Commission expires: Y ,17 : {t . . , - . ACKNOWLEDGMENT On this ftb day of X 199lf. before me, a Notary Public of the State of , personally appeared Melodie K. Petry, known to me to be the person described in the above document and acknowledged to me that she executed the same. Wc:ut4 / · Notar/Public residing at 7q Commission expires: 3/0y ' "Ę . . . . . 6· · 1: 0 F \ , . . DEVELOPMENT AGREEMENT PAGES ---PAGE BREAK--- _ ormen! A§ ree ©ent , cost . . . - wt\low GrovP _ AkJnmenrs eo> S l ull« _ .De\f°Ofer: Glenn· Petr _ _ curo_____ 3Z5 _fe¬t__ ¤ 1o.oo _ _ 3,750 _ _ _ _ _ _ . : · A r j · · - _ _ SfumWJ 3.75 JeT · J3.00 4,875 _ _ _ _ ; l . . l3._A®4 . .-8dSL_V_ J2, 50. 11 _250 _ _ _ _ . _ _ ! 4 AspiJJILPaYJn"----- _ _ 65.oo _ _ 51525 _ _ · _ _ : . :5 . . _ E2Ilhwor.ki 1Q LJ:.lL±d5² ]jQ _ 3. 0 00 _ - - - cost³-L-L--´·-µB.,.1D.O _ . . )8_10 _ _ _ ED me r _ _ i 27,_ _ 2 ,21 o _ _ - - - TOTAL _ _ , _ _ _ _ . • ª.22, 450 _ _ Noit:..._IflJU¶!matunrluMu _ . 7 5 _fooL vmnt w1demn! oL _ _ _ _ Lli["#-M$t. . - - - - . i - . - - - - - - - - - _f)MJI) _ C flr P. _ · O.ML - _ _l994 - . . - ·