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DEVELOPMENT AGREEMENT SKYVIEW ESTATES ADDITION This agreement is entered into this 15th day of April f 1991f by and between Thomas F. Janson and Linda B. Janson, (referred to as DEVELOPERS) being owners and developers of land premises included in this agreement and the City of Moscow, a Municipal Corporation of Idaho, (referred to as CITY) ; WITNESSETH: WHEREAS, DEVELOPERS own property within the City of Moscow described as Skyview Estates Addition to the city of Moscow; and, WHEREAS, the CITY desires to ensure that all public improvements are properly installed by owners and developers; NOW THEREFORE, DEVELOPERS and the CITY hereby agree as follows: II. III. PROPERTY AFFECTED: This agreement affects property known as Skyview Estates Addition to the city of Moscow, Latah County, Idaho. This property is described in the plat identified as Appendix I which is attached to and incorporated into this agreement. PUBLIC IMPROVEMENTS AND GRADING: The DEVELOPERS agree to install, at their expense, all curbs, sidewalk, street, sanitary sewer, storm sewer, water lines, and all necessary street and lot grading in accordance with approved plans in and to Skyview Estates Subdivision, to city standards during and under the terms of this agreement. PHASING OF DEVELOPMENT DEVELOPERS may phase the development of the subdivision in five phases, which are described in Appendix I. All public improvements in Phase I have been completed. Construction of public improvements in Phase II must be completed within ninety (90) calendar days of issuance of the first building permit in Phase II. TERM: This agreement shall remain in effect until all public improvements are constructed and accepted by the city in Skyview Estates Addition; this time period shall not exceed five years. ---PAGE BREAK--- Vo PERMITS: A. The parties agree that no building permits will be issued for Phase II of Skyview Estates Addition until all public improvements and lot grading have been constructed in Phase II of the subdivision, or until adequate security has been provided to ensure proper construction of the public improvements in Phase II. B. If the DEVELOPERS provide adequate security and fail to complete all public improvements within ninety (90) calendar days of issuance of the first building permit, the parties agree that building permits will cease to be issued until the improvements are complete, and the City may utilize the security specified in Paragraph VI to complete work on improvements. c. The parties agree that no building permits will be issued for Phase III, IV, or V of the subdivision until all public improvements are complete in each phase or until security has been provided in accordance with the terms of another, separate development agreement for each phase. 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) for properties within Phase II of the development. If the DEVELOPERS fail to complete construction of all of the improvements within ninety (90) calendar days of issuance of the first building permit, the CITY may attach the security and cause the improvements to be made. VII. FORM OF SECURITY: The DEVELOPERS agree to provide security in the amount of One Hundred Two Thousand, Five Hundred Twenty Dollars ($102,520.00) for Phase II 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 Attorney and the city Council prior to the issuance of building permits by the City. The security must be effective for a minimum period of one year. If this security is in the form of a letter of credit or bond, the secured improvements ---PAGE BREAK--- VIII. IX. X. constructed at least ninety (90) days prior to the expiration date on the security. If not completed at that time, the city may claim the security and complete the improvements. The amount of the security may, from time to time, be reduced to an amount deemed by the City Engineer satisfactory to complete all development. PARK DEVELOPMENT: The DEVELOPERS and CITY hereby agree that the city's parkland dedication requirement for this subdivision has been satisfied with dedication of land located adjacent to the subdivision on the west side of Paradise Creek on Bridge Street. AS-BUILT DRAWINGS: The DEVELOPERS agree to furnish, prior to acceptance of the improvements by the CITY, one set of accurate, complete, reproducible as-built drawings for all of the water, storm sewer, sanitary sewer, curb, sidewalk, and street improvements constructed in each phase of the subdivision. FAILURE TO COMPLY: If the DEVELOPERS fail to comply with the terms of this agreement, the CITY, after ten (10) days written notice, may seek specific performance of the agreement, may attach the security to complete the improvements. The DEVELOPERS agree to pay all expenses incurred by the CITY in enforcing the agreement. XI. BINDING ON HEIRS, ASSIGNS AND PURCHASERS: This agreement shall be binding upon the heirs, assignees and purchasers of the parties. IN WITNESS WHEREOF, the parties have executed this agreement to be effective the date first above written. ---PAGE BREAK--- FOR THE CITY: ATTEST: Elaine Russ3City Clerk STATE OF 6j_ 'f"e. l/b b , 1t-.ZO' 00'- - l'l.'l'l' eet ·o ' 2 Ill ' I l 1, : Ɉt.DS 8 I 0 f>,77fs. SF Ill .a 2 . 1- Z'K>· 'l'l' Dam en rB I WI 1 71!1· '34>' -4 1. .0 :2;1 f3\ V • ctl o• I- • . ® I0ő.4iq' ) ul . ' v; 'it.m ® 'II . 0 l(rɎ 0 ell • 1'1 ·Ń CS> 0 . . - N - 11,'133 10,o1e SF IC.,4l'l SF 7q .31' l 79 li , I 1 1 7B eo' l 1" G ' . . H 21°tS• t o• • ş:l.J" • Utll•nc;c& o n Legend 0 Pound Br&a Survey Hon • round Iron r'ound Cone 0 • Add!t.ion l\n9le Poln 1 @ Point, Fo, Iron Pln 0 set 5/8" > Property < @ Clty Honuo bv Owner ( "1 Cor Skyview Est: to the City of Mosco" Owners: Tom 333: % ./·t.'JP0123( lifill + 19,11- Hcvf1c.