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390223 DEVELOPMENT AGREEMENT THIS AGREEMENT is entered into this 26th day of Miil, , 1992 by and between North Central Food SystemĄ Inc. (hereinafter referred to as "DEVELOPER" ) and the City of Moscow, a Municipal Corporation of the·state of Idaho (hereinafter referred to as the "CITY"), for purposes of improving real property within the City of Moscow. WITNESSETH: WHEREAS, the City of Moscow ordinances and regulations require the installation of public improvements, including sanitary sewer improvements adjacent to property which is being built upon; and, WHEREAS, the parties mutually desire to ensure that such improvements are constructed; NOW THEREFORE and in consideration of the following mutual promises, Developer and the City hereby agree and covenant as follows: 1. PROPERTY AFFECTED. The property which is the subject of this agreement is described as follows: Tax No 1814 nwse less tan nos. 3606 & 4715 in Sec. 7, T.39N, R.5W as originally describe in book 76 Pg. 232 contains 2. 59 acres Parcel number M00000078115. 2. PUBLIC IMPROVEMENTS. A. The Developer agrees to install, at its sole expense, sanitary sewer to be constructed in an amount, and to the specifications of, the approved plans attached as Exhibit and incorporated herein by this reference, and curbing and additional necessary pavement adjacent to street for the length of said development along the south side of street as shown on the approved site plan submitted by Developer. B. The Developer agrees to construct, at its sole expense, a sidewalk, for the length of said development along the south side of DEVELOPMENT AGREEMENT PAGE 1 ---PAGE BREAK--- street, as shown on the approved site plan submitted by Developer. 3. CITY COVENANT. The City shall issue building permits subsequent to construction and inspection of said improvements described in section 2 of this Agreement or when security in the amount of SIXTY FOUR THOUSAND ONE HUNDRED NINETY DOLLARS ($64, 190.00 ) has been deposited with the City in accordance with section 4 of this agreement. Said security shall be broken down as follows: a90223 A. Security for public improvements as described in section 2.(A ) of this Agreement shall be provided in an amount of FIFTY SIX THOUSAND FIVE HUNDRED SIXTY FIVE DOLLARS ($56, 565.00 ) as contained in Exhibit "B " page 1 attached and incorporated by this reference. It is further agreed that the security must be effective for a minimum period of ONE HUNDRED EIGHTY (180 ) days from the date of the issuance of the building permit; B. Security for public improvements as described in section 2. (B ) of this Agreement shall be provided in an amount of SEVEN.THOUSAND SIX HUNDRED TWENTY FIVE DOLLARS 625.00 ) as contained in exhibit page 2 attached and incorporated by this reference. It is further agreed that the security shall be effective for a minimum period of SIXTY SIX (66) months from the date of the issuance of the building permit. 4. SECURITY FOR IMPROVEMENT. The City agrees that upon receipt of security described in paragraphs 3 and 5 of this Agreement, it will issue building permits (upon payment of permit fees ) . It is further agreed that the security shall be utilized as follows: A. If Developer fails to complete construction of the public improvements described in section 2. (A ) within 90 days of the issuance of said building permits, the City may attach the security described in section 3. (A ) and cause such improvements to be made. Any costs associated with the construction of such improvements in excess of the security shall be borne by the Developer. Any additional construction services shall be let by bid and subject to the laws of the State of Idaho. DEVELOPMENT AGREEMENT PAGE 2 ---PAGE BREAK--- 390223 B. If Developer fails to complete construction of the public improvements described in section 2. (B ) within SIXTY (60 ) months of the issuance of said building permit, the City may attach the security described in section 3. (B ) and cause such improvements to be made. Any costs associated with the construction of such improvements in excess of the security shall be borne by the Developer. Any additional construction services shall be let by bid and subject to the laws of the State of Idaho. 5. FORM OF SECURITY. Security shall be in the form of a construction bond, irrevocable letter of credit from a certified band or other financial institution, or such other form of security acceptable by the City Attorney prior to the issuance of building permits by the City. 6. TERM. This agreement shall remain in effect until all improvements as described herein are completed and accepted by the City, and in no event shall the time period to construct the improvements described in section 2. (A ) exceed NINETY (90 ) days, unless said time period is extended by the City, and in no event shall the time period to construct the improvements described·in section 2. (B ) exceed SIXTY (60 ) months, unless said time period is extended by the City. If said time period is extended by the City, Developer shall undertake at its sole expense to extend for a like period the security for improvements. 7. COVENANTS TO RUN WITH LAND. This agreement shall run with the land and the benefits and burdens herein described shall be binding on the parties heirs, assigns and successors in interest. DEVELOPMENT AGREEMENT PAGE 3 ---PAGE BREAK--- 390223 IN WITNESS WHEREOF, the Parties cause this agreement to be executed to be effective the day and year first set forth above. This agreement was approved by the Moscow City Council at their regular meeting on the 4th day of May , 1992. ; = Paul C. Agidiayor Pau State of Idaho ) ) ss County of Latah ) day of , 1992, before me, a Notary t• · < lĝ;ÿþÛÚ.lic··.;fn·Ğ)łýd for saMSte, appeared Paul Agidius, known : · .,·Þe .to the person named above and acknowledged to me u'v : that . hĠ :exec11ted the foregoing agreement as Mayor of the Ā Ăă · cÝ āj o_f ·.'!f.Ùs-Ø • • I . , State of County of Ł ss On this /7 day of , 1992, before me, a Notary Public in and for sa×, appeared Paul s. Gray, known to me to be the person named above and acknowledged to me that he executed the foregoing agreement on behalf of North Central Food Systems. RENEE M. NOTARY PUBLIC · MINN<1rt RICE COUNT'.' wxS7 DEVELOPMENT AGREEMENT MUü Public iġ and for the of Ö PAGE 4 ---PAGE BREAK--- P.O. &ox 9203 83843·1703 June 10, 1992 Paul Gray tJ/ ŀ 122 East 4th Street Moscow, Idaho North Central Food Systems, Inc. P.O. Box 431 1301 Cannon Circle Fairbault, Minnesota 55021 Re: Development Agreement Hardees Restaurant property on Pullman Road Phone 208·882-5553 Fox [PHONE REDACTED] Recently you signed a development agreement with the city of Moscow for the above property and in the process of recording it at the Latah County Auditor's Office we find that according to Idaho law it has to be notarized. Enclosed you will find a replacement. We ask that you have your signature notarized and return the agreement to us, my attention, so we can have it recorded. We are sorry for any inconvenience this may cause you. If you have any questions please contact Gary Riedner, City Attorney. Sincerely, Elaine Russell, CCCFO City Clerk enc. ---PAGE BREAK--- t' : I . . " · . . , . · . . . . . . . . ; ,1 û ·ÔÕ Ņl Ŀ ľ i , ' · : ' . , I I • l ' • t . Ɨ , . ' , . . . · . : . > • . ; . . ' 0 • \ ' . Ɩ . ---PAGE BREAK--- . · . · . - · · · - · · · · :p - ĵ :._of - Õ _ 2 . Ă - _ _ . - -Ɣ - , - . ă -ÐEx ·hl Dlt-÷'-sølt--=--ùú-· · · . · · I Ɠ _ c.osi _nturuiL · - · · · · · · · _ - - - . - _ 1 · . l - - - _ - - - - - - r.Ĺrĺ , m-r · · · · # 6o j ziöoo. _ _ -Ķ : . mļnh.o1Ľs _ · s _.eJ _ _ · 14-L-, 7sJl B, 1so . _J 3. __j_Q_O_jJn. ft. 4t 2.0 _2 _,0QD _ _ l Ö __strÏeLrerm _ _ _ _ _ _ aD_£4d " ; 25 zs_a . 15. curĸ l _s_lJn×.JL $ za a.nn _SÎCYJCô _JJferJJs _j eÒL .n 15.0 15D _ _ _ _ _ · conJco_L _ _ lJ mp_s_u_IIl ' zs_o 750 . j ' - - . - · - · - · - - - _ _ _ _ _ _ _ i _ _ _ EstJma.ted .e onstruct.LO.ll 4$ 38t_5_Qo _ _ _ _ _ _ _ · - · _ _ t- _ _ _ _tontw e.ncfu 1 . 9:so _ _ _ _ 1 E.nĴlDEÓ.r.m _ fdmm . /.25o I 20 . . _ I - - - _ L_ - - - - · - - - j_rout _E5ILMÍIE.D_C.05I._._ . _r910 _ _ _ j_ . L - - _ _ _ l - I . . - . · ! i . . . - _ ! I - - - - - - - - - _ JJJ21)M1rĻ'£.- . . . - - D.Mf. _ciltj &fl. - - - - - ' -'fMlj 4- I I #92 - . . . . . - - - ---PAGE BREAK--- · : · - - -rĨ:m- ·21 · _ . - - - - · . - i Ā . Ul.,_ , . . . . ' EXh1b1f . . . - · .cosLEstlm_ate - · - : - JlardeeòsóL5L_- rmijcoYem£nis ÿ · I . . , . . . . Ê , . L _CUib 250__I_mJ _fJ . 10.00 $ 2,_500_ı_- _ - É - _ _ 2._PJ.'ilfl_C3) L9_5 6į.JfdS. · · $ lOJ.DD · ' L,È5D_ . - i 1 . _aase1.6İ). 6 s tonĭ- ĩ s .oo 97 5 , · -4 · -ca.tðh___bJ Ç_tn each __!jt-5oo.oo J.15DO x - - · - 75J:u._yd._ $ 12.50 940· 1 Ī · EstJmated ca.nstru.ciwn --Į71 865 _ c{nttnIenc} _ IJ_j07. · _ 785 _ - _ JGJneerw LAdmtn. Ci_/2% 945 _ _ i .!TOTAL _ES11MATELC05I _ . ħ _91 595_,_- _ _ _ ! 1 (5~W.ld_ 25DJI'n.Jt. . # 25 00 __!_b,.250 I I t ƏƐ i I 750 , _ k)QD.;n c. jjj• . ËÌ.£ - - - - - MAt ī E!fĬ 1M.lJ. 61 yz92 r · ---PAGE BREAK--- . . JUN 1 6 1992 P.O. Box 9203 83843-1703 Phone [PHONE REDACTED] Fax [PHONE REDACTED] tl/ Ħ 122 East 4th Street Moscow, Idaho June 10, 1992 Paul Gray North Central Food SysĚems, Inc. P. O. Box 431 1301 cannon Circle Fair.bault, Minnesota 55021 Re: Development Agreement Hardees Restaurant property on Pullman Road Recently you signed a developměnt agreement with the city of Moscow for the above property and in the process of recording it at the Latah CourĜy Auditor's Office we find that according to rized. osed you will find a replacement. We ask that you have your signature notarized and return the agreement to us, m can haþe it cecordcd. We are sorry for ar.y inconvenience thi::; may cause you. If you have any questions please contact Gary Riedner, City Attorney. Sincerely, Elaine Russell, CCCFO City CleL enc.