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U..L UUV U MONUMENTATION AGREEMENT BETWEEN GREEN ACRES DEVELOPMENT, L.L.C. A."'D CITY OF MOSCOW, IDAHO THIS AGREEMENT entered into this _zo!.!liay of ,DJI, 2007 by and between Green Acres Development, L.L.C., 1200 Nottingham Place, Moscow, o, 83843 (heremafter referred to as "DEVELOPER") and the City of Moscow, Idaho, a Municipal Corporation of the State of Idaho, 206 East Third Street, Moscow, Idaho, 83843 (hereinafter referred to as "CITY") for the purpose of subdividing real property within CITY. W I T N E S S E T H : WHEREAS, DEVELOPER is the owner of certain premises located in CITY commonly known as Green Acres Addition; and WHEREAS, DEVELOPER has not at this time set interior monuments as required by Idaho Code Section 50-1303; and WHEREAS, DEVELOPER desires to record the final plat of Green Acres Addition; and WHEREAS, Idaho Code Sections 50-1331 to 50-1333 allow the setting of interior monuments for subdivisions following the recording of the final plat; and WHEREAS, the parties mutually desire to ensure that such monuments be installed; NOW THEREFORE, and in consideration of the following mutual promises, DEVELOPER and CITY hereby agree and covenant as follows: PROPERTY AFFECTED: Property which is subject to this Agreement is described as Green Acres Addition (hereinafter referred to as "SUBDIVISION"), as shown by the plat herein incorporated by reference. 2. PROFESSIONAL LAND SURVEYOR: For the purpose of this Agreement the Professional Land Surveyor (hereinafter referred to as "SURVEYOR") for the platting of SUBDIVISION is Larry J. Hodge, LS No.3003, of Moscow, Idaho. 3. CONDITIONS OF RECORDING WITHOUT MONUMENTATION: Pursuant to Idaho Code Section 50-1333, DEVELOPER may record the final plat of SUBDIVISION if: A. The exterior monuments have been set; B. The SUBDIVISION plat includes a certification by SURVEYOR that the interior monuments for SUBDIVISION shall be set in accordance with Idaho Code Section 50-1303, on or before a specified date and the said interior monuments shall be referenced on the SUBDIVISION plat with a unique symbol. The time for setting the interior monuments shall not exceed one calendar year from the date the SUBDIVISION plat is recorded or as otherwise specified by written agreement with CITY; and MONUMENTATION AGREEMENT PAGE I OF 3 GREEN ACRES DEVELOPMENT, L.L.C. AND CiTY OF MOSCOW, IDAHO 2007-25 ---PAGE BREAK--- 516606 C. DEVELOPER furnishes to CITY a cash deposit in the amount equal to one hundred twenty percent ( 120%) of the estimated cost of the survey work for SUBDIVISION, based upon the estimate of SURVEYOR. 4. DEVELOPER'S COVENANT. DEVELOPER agrees as follows: A. To have installed at DEVELOPER expense all interior monuments within the SUBDIVISION, as required by Idaho law; and B. To have the interior monuments set by SURVEYOR, except as allowed otherwise under Section 7 of this Agreement; and C. To have installed all required interior monuments on or before the date specified on the SUBDIVISION plat; and D. To furnish CITY with a cash deposit in the amount of Three Thousand Seventy-two Dollars ($3,072) which is equal to the one hundred twenty percent (120%) of the Two Thousand Five Hundred Sixty Dollars ($2,560) estimated by SURVEYOR to set SUBDIVISION interior monuments. 5. CITY COVENANT. That upon the compliance of DEVELOPER with the terms and conditions of this Agreement, CITY shall advise the Latah County Recorder that the requirements of Idaho Code Sections 50-1331 to 50-1333 have been met and security in the amount of Three Thousand Seventy-two Dollars ($3,072) has been deposited with CITY as required by Section 4. D. of this Agreement. 6. RETURN OF DEPOSIT. If DEVELOPER pays SURVEYOR for performing the interior monumentation work and furnishes CITY with proof of such payment, CITY shall, within two months after such notice, return the cash deposit upon a finding that such payment has been made, or CITY may, upon written request of DEVELOPER, pay SURVEYOR from moneys within a cash deposit held by it for such purpose, and return the excess amount of the cash deposit, if any, to DEVELOPER. 7. FAILURE OF SURVEYOR TO PERFORM MONUMENTATION. In the event that the death, disability, retirement of SURVEYOR, or upon the failure of SURVEYOR to set such monuments in accordance with law, CITY may direct the county surveyor in his or her official capacity or contract with an Idaho professional land surveyor in private practice to set such monuments and reference such monuments for recording as provided in Idaho Code Sections 50-1331 to 50-1333. The fees of the county surveyor or private surveyor shall be paid by DEVELOPER in accordance with the terms of this Agreement. 8. FAILURE OF DEVELOPER TO PAY FOR MONUMENTATION. In the event DEVELOPER fails or refuses to authorize the payment for interior monumentation, SURVEYOR may request payment from CITY, and upon inspection by CITY of such interior monumentation, shall pay SURVEYOR from the proceeds of the cash deposit. Any costs associated with the installation of such monuments in excess of the security shall be borne by DEVELOPER. 9. TERM. This Agreement shall remain in effect until all monuments as described herein have been installed and accepted by CITY. MONUMENTATION AGREEMENT PAGE20F 3 GREEN ACRES DEVELOPMENT, L.L.C. AND CITY OF MOSCOW, IDAHO ---PAGE BREAK--- 516606 10. COVENANTS TO RUN WITH LAND. This Agreement shall run with the land and benefits and burdens herein described shall be binding on the parties, heirs, assigns and successors and interest. IN WITNESS WHEREOF, the parties have executed this AGREEMENT to be effective the date first above written. DEVELOPER: CITY: Green Acres Development, LLC City of Moscow, Idaho ATTEST: ACKNOWLEDGMENT STATE OF IDAHO ) ) ss. County of Latah ) On this 1:1._ day of , 2007, before me, tbe undersigned, a Notary in and for said State, personally appeared Larry, . Germer, known to me to be tbe person whose name is subscribed to tbe foregoing and acknowledged to me that e executed tbe same. IN WITNESS WHEREOF, I have hereunto set my hand and written. STATE OF IDAHO ) ) ss. County of Latah ) On this l::f_ day o , 2007, before me, tbe undersigned, a Notary in and for said State, personally appeared Ric d C. Beebe, known to me to be the person whose name is subscribed to tbe foregoing and acknowledged to me that he executed tbe same. IN WITNESS \lt1ffiREOF, I have hereunto set my hand an \Witten. MONUMENTATION AGREEMENT GREEN ACRES DEVELOPMENT, L.L.C. AND CiTY OF MOSCOW, IDAHO ---PAGE BREAK--- Date: 06/19/2007 Customer: BEEBE Customer Acct#: 009165 Receipt 0160639 105-000-00-220-00 MONUMENTATION GREENACRES ACCOUNT Total Due: 3,072.00 Amount Paid: Cash: Check: Visa/MC: Change: 0.00 3,072.00 0.00 0.00 Operator: LEORA PIJD City of Moscow 206 E Third St Moscow, ID 83843 [PHONE REDACTED] www.ci.moscow.id.us GE!P LLCSECURITY b 3,072.00 RICk Bee e. &t L'Hfl1 Germer 516nH6 NO, AT T . H . E . REQUEST OF · City ar (!!ff dc_ SUSNJ PETEASEN LATAH COUNTY RECORDER l/-)1i !_Mas: