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448nn1 DEVELOPMENT AGREEMENT PARK VIEW ESTATES ADDITION CITY OF MOSCOW, IDAHO TIDS AGREEMENT is entered into this day of January, 2000, by and between G & G Development, L.L.C. (referred to as DEVELOPERS), being Developers of real property as described herein, and City of Moscow, Idaho, a Municipal Corporation of the State of Idaho, 206 East Third Street, Moscow, ID 83843 (hereinafter referred to as "CITY"); WHEREAS, DEVELOPERS desire to develop property located within the City of Moscow, Idaho, and commonly known as Park View Estates Addition, being more particularly described as follows: A parcel of land located in the SW 1/4 of Section 5 and the NW 1/4 of Section 8, T39N R5W BM, and being more particularly described as follows: Beginning at the northwest corner of said Section 8; thence S 88°50'54" E, 57.53 feet along the north line of said Section 8 to a point on the east right-of-way line of US Highway 95 and the TRUE POINT OF BEGINNING. Thence S 88°50'54" E, 262.47 feet along the north line of Section 8; Thence N !006'44" E, 225.00 feet to a point on the south line of Quail Run Addition to the City of Moscow; Thence S 88°50'54" E, 1044.42 feet along said south line of Quail Run Addition; Thence S 0°40'59" W, 225.01 feet to a point on the north line of said Section 8; Thence S 88°50'54" E, 448.00 feet along said north line of Section 8 to a point on the west right-of-way line of North Polk Street; Thence S 0°59'3 I" W, 767.79 feet along said west right-of-way line of North Polk Street; Thence N 89°05'29" W, 500.00 feet; Thence S 0°59'31" W, 624.47 feet to a point on the north right-of-way line of McKinley Street; Thence N 89°05'29" W, 980.31 feet along said north right-of way line of McKinley Street; Thence N 0°42'31" E, 382.16 feet; Thence N 89°05'29" W, 130.00 feet; Thence N 0°42'32" E, 285.00 feet; Thence N 89°17'28" W, 140.00 feet to a point on the east right-of-way line of US Highway 95; Thence N 0°45'37" E, 733.04 feet along said east right-of-way line of US Highway 95 to the TRUE POINT OF BEGINNING. Parcel contains 51.15 acres. WHEREAS, DEVELOPERS understand that a waiver of public improvements is available pursuant to the Moscow City Code, but DEVELOPERS specifically do not wish to request such a waiver and wish to enter into the Agreement herein; and WHEREAS, DEVELOPERS enter into this Development Agreement of their own free will and accord, without coercion and without inducement and at DEVELOPERS' request; and Page I 03 ---PAGE BREAK--- 448tHd WHEREAS, DEVELOPERS understand that improvements required herein are standards required pursuant to Moscow City Code Title 5, Chapter 1, and are authorized by Idaho Code Section 67-6513 and Section 67-6518; and WHEREAS, DEVELOPERS voluntarily agree to make payment of a fee in lieu of land dedication to satisfy Moscow City Code 5-1-5(F), in exchange for permission from CITY to develop Park View Estates Addition; and WHEREAS, CITY's acceptance of payment of a fee in lieu of land dedication pursuant to Moscow City Code Section 5-1-5(F)(4) is at DEVELOPERS' request and as an accommodation to DEVELOPERS and CITY; and WHEREAS, DEVELOPERS agree that the public improvements and parkland dedication 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, DEVELOPERS and CITY believe that, without the public improvements required herein, CITY would not be able to otherwise provide for mitigation of the effects 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 and appurtenances consisting of streets, curbs, sidewalks, sanitary sewer, highway turn lanes, highway street approach(s), traffic signal (when warranted), storm water runoff control and storm sewer within and adjacent to Park View Estates Addition are constructed or upgraded; and WHEREAS, DEVELOPERS have read this Agreement, have understood it, and have had the opportunity to avail themselves of legal and other counsel prior to entering into this Agreement and prior to signing it; NOW, THEREFORE, DEVELOPERS and CITY hereby agree as follows: L PROPERTY AFFECTED: This Agreement affects property located within the City of Moscow, Idaho, and commonly known as Park View Estates Addition, being more particularly described as follows: A parcel of land located in the SW 114 of Section 5 and the NW 1/4 of Section 8, T39N R5W BM, and being more particularly described as follows: DEVELOPMENT AGREEMENT Page2 ---PAGE BREAK--- Beginning at the northwest corner of said Section 8; thence S 88°50'54" E, 57.53 feet along the north line of said Section 8 to a point on the east right-of-way line of US Highway 95 and the TRUE POINT OF BEGINNING Thence S 88°50'54" E, 262.47 feet along the north line of Section 8; Thence N I 006'44" E, 225.00 feet to a point on the south line of Quail Run Addition to the City of Moscow; Thence S 88°50'54" E, 1044.42 feet along said south line of Quail Run Addition; Thence S 0°40'59" W, 225.01 feet to a point on the north line of said Section 8; Thence S 88°50'54" E, 448.00 feet along said north line of Section 8 to a point on the west right-of-way line of North Polk Street; Thence S 0°59'31" W, 767.79 feet along said west right-of-way line of North Polk Street; Thence N 89°05'29" W, 500.00 feet; Thence S 0°59'31" W, 624.47 feet to a point on the north right-of-way line of McKinley Street; Thence N 89°05'29" W, 980.31 feet along said north right-of way line of McKinley Street; Thence N 0°42'31" E, 382.16 feet; Thence N 89°05'29" W, !30.00 feet; Thence N 0°42'32" E, 285.00 feet; Thence N 89°!7'28" W, 140.00 feet to a point on the east right-of-way line of US Highway 95; Thence N 0°45'37" E, 733.04 feet along said east right-of-way line of US Highway 95 to the TRUE POINT OF BEGINNING Parcel contains 5 I. 15 acres. and as shown in Exhibit attached hereto and incorporated herein by this reference. II PUBLIC IMPROVEMENTS: 4 4 8 tili1 DEVELOPERS agree to install, at DEVELOPERS' expense, all public improvements required by Moscow City Code Sections 5-1-4 and 5-1-5, including but not limited to streets, curbs, sidewalks, sanitary sewer, storm water runoff control and storm sewer and all improvements to State Highway 95 as required by the Idaho Transportation Department, including but not limited to street approach(s), turn lanes, and, when warranted, a traffic signal; all in accordance with applicable standards. DEVELOPER shall not develop Block 1, Lot 2 of Park View Estates to a density greater than one dwelling unit per one thousand six hundred (1,600) square feet of lot area. DEVELOPER shall improve McKinley Street from South Jefferson to U.S. Highway 95 to applicable standards as part of Phase 1 of Park View Estates. DEVELOPERS agree that each Phase of Park View Estates Addition shall be completed in the exact order set out in Exhibit attached hereto and that no building permit shall be issued to DEVELOPERS for the subsequent Phase before all public improvements related to every immediately preceding Phase (with the exception of a warranted traffic signal connected to the development of Block I, Lot 1 of Park View Estates) are completed or installed in accordance with this Agreement. It is anticipated that a traffic signal at the Highway 95 and Rodeo Drive intersection shall be required when Block I, Lot 1 of Park View Estates is developed. DEVELOPERS DEVELOPMENT AGREEMENT - Page 3 ---PAGE BREAK--- 4 4 8 ntil agree that a separate Development Agreement setting forth the detailed requirements for the traffic signal and all related improvements associated therewith shall be negotiated by and between City and the responsible developer of Block I, Lot 1 of Park View Estates prior to the issuance of any building permit for Block I, Lot 1 of Park View Estates. 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 DEVELOPERS' development or any approved phase of the development thereof (upon payment of permit fees, public utility inspection fees of point seventy-five percent 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 adequate security as described in Moscow City Code Section 5-1-10 and as described in Sections VI and VII herein has been provided to ensure proper construction of the required public improvements. CITY agrees dedication of land described in Section VIII of this Agreement satisfies CITY'S parkland dedication requirement pursuant to Moscow City Code Section 5-1- 5(F), as further described in Section VIII of this Agreement. V. DEVELOPERS' COVENANT A. DEVELOPERS agree to install all public improvements required herein, at DEVELOPERS' expense, in accordance with approved plans for DEVELOPERS' development, to applicable standards during and under the terms of this Agreement. All plans and drawings shall be approved by the Moscow City Engineer prior to the beginning of any construction of improvements; and B. DEVELOPERS agree that DEVELOPERS shall install the required improvements for each separate Phase of Park View Estates Addition within four months from the date of the issuance of the first building permit for the current Phase of Park View Estates Addition; and C. If DEVELOPERS fail to complete installation of the required improvements for the current Phase of Park View Estates Addition within four ( 4) months from the date of the issuance of the first building permit for such Phase, to City standards, DEVELOPMENT AGREEMENT Page4 ---PAGE BREAK--- 441'ltH51 CITY shall revoke occupancy of such Phase, revoke any applicable permit issued to DEVELOPERS by CITY and shall cease to issue further building permits for the affected property until such improvements are completed, and in accordance with approved engineering plans for the public improvements described in Section II of this Agreement D. DEVELOPERS agree that a traffic engineering study shall be required of the developer of Block I, Lot I of Park View Estates and that any improvements, as determined by said study, shall be designed, paid for, and installed by such developer of Block I, Lot I of Park View Estates. DEVELOPERS further agree that improvements required by the traffic engineering study shall be in accordance with Idaho Transportation Department (ITD) standards and that ITD shall review and approve of such study before the issuance of any building permit for Block I, Lot I of Park View Estates. VL SECURITY FOR IMPROVEMENTS In lieu of DEVELOPERS' 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- I-I 0 it will issue building permits (upon payment of permit fees, public utility inspection fees of point seventy-five percent (0.75%) of the City Engineer's estimated construction costs and satisfaction of Moscow City Code requirements) for DEVELOPERS' development. If DEVELOPERS fail 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 DEVELOPERS' failure to comply with this Agreement Any engineering or construction costs in excess of the security shall be borne by DEVELOPERS. Any additional construction services shall be let by bid, and subject to the laws of the State ofidaho relative to the letting of such bids. VII. FORM OF SECURITY DEVELOPERS agree to provide security for an amount to be determined by the City Engineer which will fully cover the entire cost of public improvements as identified and described herein as such public improvements are required for each separate and successive phase of Park View Estates' development. The security shall be in the form of cash, construction bond, irrevocable letter of credit from a certified bank or financial institution, or such other form of security acceptable by 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 ( I 80) 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 and described in Section II are not completed at that time, CITY may claim the security and DEVELOPMENT AGREEMENT Page5 ---PAGE BREAK--- 4 4 8 tHil complete the said improvements. The amount of the security may, from time to time, be modified as deemed appropriate by the Moscow City Engineer as conditions warrant. If for any reason the security for such improvements shall be withdrawn by DEVELOPERS or the security or financial institution, or the value or terms thereof shall be compromised in any way, CITY shall immediately cease issuing building permits and shall revoke any building permits and/or occupancy permits issued pursuant to the terms contained herein, and further, DEVELOPERS 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 and/or occupancy permits are revoked pursuant to this section, such building permits and/or occupancy permits shall be re-issued upon receipt by CITY of new or additional security as required herein. VIII. PARKLAND DEDICATION DEVELOPERS agree to make payment of a fee in lieu of land dedication in the amount of Twelve Thousand One Hundred Fifty Dollars ($12, 150). Such agreed upon fee is based upon a calculation of Seven Thousand Five Hundred Dollars ($7,500) per acre for 1.62 acres. Said fee shall satisfY the parkland dedication required in Moscow City Code Section 5-1-S(F) for Park View Addition. Payment of the fee in lieu of parkland dedication shall be divided into six roughly equal amounts, each amount due and owing within four ( 4) months from the date of the issuance of the first building permit for each Phase. IX. STREET TREES DEVELOPERS agree to voluntarily contribute to City of Moscow, Idaho Nineteen Thousand Six Hundred Dollars ($19,600) to be placed in a street tree fund to be distributed to lot owners in Park View Estates Addition for the purchase of street trees in Park View Estates Addition. One Hundred Dollars 00) per tree shall be provided to each such lot owner for the purchase of each such street tree in accordance with current City of Moscow Standard Construction Specifications and Drawings (Resolutions Nos. 97-04 and 99-01) up to the total amount of Nineteen Thousand Six Hundred Dollars ($19,600). Payment of the contribution to the street tree fund for each Phase shall be due and owing within four ( 4) months from the date of the issuance of the first building permit for each Phase. Each such payment shall be equal to the amount required for trees to be planted in such Phase X. CONSTRUCTION DRAWINGS: DEVELOPERS agree 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. DEVELOPMENT AGREEMENT Page6 ---PAGE BREAK--- XL FAILURE TO COMPLY: DEVELOPERS agree to pay all expenses incurred by CITY in enforcing this Agreement. XII. 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. XIIL OCCUPANCY DEVELOPERS agree that no person shall be allowed to occupy any part of the development 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. XIV. 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 ofldaho in and for the County of Latah. XV MODIFICATION DEVELOPERS and CITY agree that the provisions of this Agreement may be modified only upon written request of DEVELOPERS 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. XVL 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. XVII. 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: DEVELOPERS: DEVELOPMENT AGREEMENT . G&G Development, L.L.C. !40 East Palouse River Drive Moscow, Idaho 83843 Telephone: (208) 882-8482 Fax (208) 882-0926 Page 7 ---PAGE BREAK--- CITY XVIII. UNDERSTANDING Marshall H. Comstock, Mayor City of Moscow P".O. Box 9203 206 East 3rd Street Moscow, Idaho 83843 Telephone: (208) 883-7000 Fax (208) 883-7018 DEVELOPERS have read and understood this Agreement and the contents thereof and have had the opportunity to avail themselves of legal and of other counsel before entering into this Agreement and bef9re signing it, and hereby enter into it voluntarily, willingly, and without inducement. IN WITNESS WHEREOF, the parties have executed this Agreement to be effective the date first above written. DEVELOPERS: G & G DevelopmeC LC CITY By 1 ʼnames Gress STATE OF IDAHO ) ) ss County of Latah ) , 1 • . , d/)00 tJ,v On this day of -l&JUA...tUL<..J= , .J.-999, before me, the undersigned, a Notary in and for said State, personally appeared I:arry D. Germer, known to me to be the person whose name is subscribed to the foregoing and acknowledged to me that he executed the same as duly authorized representative of G & G Development, L.L. C DEVELOPMENT AGREEMENT NOT AR PUBLI · or Idaho Residing atfl,·Ŋ ccUu:Y4,chJH'L--,----.r------' My Commission expires: 1 /;2rp/c?co;L I Page 8 ---PAGE BREAK--- STATE OF IDAHO ) ) ss County of Latah ) , v ' :J (Xi) On this 5 day of o..JtuV-Ltvivjfn , 6. before me, the undersigned, a Notary in and for said State, personally appeared mes Gress, known to me to be the person whose name is subscribed to the foregoing and acknowledged to me that he executed the same as duly authorized representative of G & G Development, L.L. C. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and year hereinabove written. Agreements \Park View Estates( r2 )\pm DEVELOPMENT AGREEMENT NOTARY'·PUBLIC or Idaho Residing at t) My Commission expires: I }J(Q/ ;Joo;,L r ' Page 9