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516oo2 MONUMENTATION AGREEMENT BETWEEN GREENSIDES INCORPORATED AND CITY OF MOSCOW, IDAHO THIS MONUMENTATION AGREEMENT entered into this ay of 2007 by and between Greensides Incorporated, whose current address is 2o Moscow, Idaho, 83843 (hereinafter 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. WIT N E S S E T H: WHEREAS, DEVELOPER is the owner of certain premises located in CITY commonly known as Greensides Hill Subdivision; 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 fmal plat of Greensides Hill Subdivision; 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: 1. PROPERTY AFFECTED: Property which is subject to this Agreement is described as Greensides Hill Subdivision (hereinafter referred to as "SUBDNISION"), 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 Michael A. Hoffinann, LS No.l1871, 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 SUBDNISION plat includes a certification by SURVEYOR that the interior monuments for SUBDIVISION shall he set in accordance with Idaho Code Section 50-1303, on or before a specified date and the said interior monuments shall he referenced on the SUBDNISION plat with a unique symbol. The time for setting the interior monuments shall not exceed one calendar year from the date the SUBDNISION plat is recorded or as otherwise specified by written agreement with CITY; and MONUMENTATION AGREEMENT PAGE I OF3 GREENSIDES INCORPORATED AND CITY OF MOSCOW, IDAHO 2007·28 ---PAGE BREAK--- 516602 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 One Hundred Twenty Dollars ($3,120) which is equal to the one hundred twenty percent (120"/o) of the Two Thousand Six Hundred Dollars ($2,600) 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 One Hundred Twenty Dollars ($3,120) 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, retnrn 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 retnrn 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 PAGE20F3 GREENSIDES INCORPORATED AND CTIY OF MOSCOW, IDAHO ---PAGE BREAK--- ' 516602 I 0. COVENANTS TO RUN WlTII 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. Greensides Incorporated, Owner: City of Moscow: IN W11NESS WHEREOF, I have hereunto set my band and affixed my official seal the day and year hereinabove written. PUBLIC for the sta!i:I:Mptiif}.!o -.,CDRII' 5 t Residing at My Commission expires: STATE OFIDAHO ) ) ss. CMI8 D PCNOlT County ofLatah ) On this day of kl"''u st , 2007, before me, the undersigned, a NIII_IIJ'II _ M personally appeared Linda &i(.}ffinann, known to me to be the person whose name is subscribed to the foregoing and acknowledged to me that she executed the same. IN W11NESS WHEREOF, I have hereunto set my band and affixed my official seal the day and year hereinabove written. - PUBLIC for the Vt:_:f __,;r;wi-HD Residing at Vtt:rlc 4, $ MONUMENTATION AGREEMENT My Commission expires:.tf · ( 6 · C PAGE30F3 GREENSIDES INCORPORATED AND CITY OF MOSCOW, IDAHO -DKNOTT Notary Public Stale ot ktoho