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11946 DEVELOPMENT AGREEMENT FOR THE TIEMPO COMMONS REPLA T BETWEEN ANOTHER WAY ENTERPRISES, L.L.C. AND THE CITY OF MOSCOW, IDAHO THIS DEVELOPMENT AGREEMENT for the Tiempo Commons Replat between Another Way Enterpriŷ L.L.C. and the City of Moscow, Idaho (hereinafter "Agreement") is entered into this 'jtf:. day of - i v.d /s I , 2007, by and between Another Way Enterprises, L.L.C., 3920 S. Grand Blvd. #I 06, SpQl(ane, W A 99203 (hereinafter referred to as "DEVELOPER"), being Developer of real property as described herein, 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"); W I T N E S S E T H : WHEREAS, DEVELOPER desires to develop property to be known as Tiempo Commons Rep! at in the City of Moscow, Latah County, Idaho. WHEREAS, DEVELOPER understands that improvements required herein are standards required pursuant to Moscow City Code Title 5. Chapter I and are authorized by Idaho Code Section 67- 6513 and Section 67-6518; and WHEREAS, DEVELOPER 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 consisting of public street accesses, sidewalks, water mains, sanitary sewer mains and stubs, storm drain mains and stubs, detention pond and related piping, franchise utilities, private streets for the purpose of providing access from public streets to individual lots, are constructed: and WHEREAS, DEVELOPER understands that a waiver of public improvements is available pursuant to the Moscow City Code, but DEVELOPER specifically does not wish to request such a waiver and wishes to enter into this Agreement; and WHEREAS, DEVELOPER enters into this Development Agreement of DEVELOPER's own free will and accord, without coercion and without inducement and at DEVELOPER's request; and WHEREAS, DEVELOPER has read this Agreement, has understood it, and has had the opportunity to avail itself of legal and other counsel prior to entering into this Agreement and prior to signing it; NOW, THEREFORE, DEVELOPER and CITY hereby agree as follows: l. PROPERTY AFFECTED: This Agreement affects property to be known as Tiempo Commons Replat within the City of Moscovv, Latah County, Idnho, more pm1icularly described as follows: A parcel of land located in the Nl/2 of Section 16, T39N, R5W, B.M., and being more particularly described as follows: PACL ! 01- 7 2007-58 ---PAGE BREAK--- Lots I and 2, Block I, Southgate Addition to the City of Moscow as shown by the recorded plat thereoL a11946 Lots I , 2, 3, and 4, Block 2, Southgate Addition to the City of Moscow as shown by the recorded plat thereof. Alley adjoining Blocks J & 2, Southgate 2ml Addition to the City of Moscow as shown by the recorded plat thereoL Stormwater Parcel Block L Southgate Addition to the City of Moscow as shown by the recorded plat thereof. IL PUBLIC IMPROVEMENTS: DEVELOPER agrees to install, at DEVELOPER's expense, public improvements required by Moscow City Code Sections 5-1-4 and 5-l-5 consisting of public street accesses, sidewalks, water mains, sanitary sewer mains and stubs, storm drain mains and stubs, detention pond and related piping, franchise utilities, private streets for the purpose of providing access from publlc streets to individual lots; all in accordance with City Standards duly adopted by Resolution of the City Council and in accordance with approved engineering plans. IlL TERM: This Agreement shall remain in full force and effect in accordance with aJl of its terms and conditions as follows: A. Until all public improvements have been completed and accepted by CITY; and B. Until the warranty period for public improvements has expired; and C. Until all development fees, as required and assessed by CITY, have been paid in fulL IV, CITY'S COVENANT: CITY shall issue building permits to DEVELOPER's proper1y only after the following has occuueJ: A. Payment of all applicable developmental fees required and assessed by CITY; and B. CITY has determined that the construction of all required public improvements is complete or after adequate security. as described in Moscow City Code Sections 5-l-1 0 and as described in Sections VI, VII and Vlll herein, has been provided to ensure construction, maintenance and warranty repairs of the required public improvements; and C. Compliance with applicable CITY permit issuance requirements and policies. ---PAGE BREAK--- V. DEVELOPEKS COVENANT: 511946 A. DEVELOPER agrees to construct, at DEVELOPER's expense public street accesses, sidewalks, water mains, sanitary sewer mains and stubs, storm drain mains and stubs, detention pond and related piping, franchise utilities, private streets for the purpose of providing access from public streets to individual lots, all in accordance with CITY approved engineering design plans, to CITY standards, during and under the terms of this Agreement: and B. DEVELOPER agrees to furnish to CITY, at DEVELOPER's expense, engineering design plans (for the required public improvements) prepared by an Idaho Licensed Professional Engineer. Such plans shall be approved by the Moscow City Engineer prior to beginning any public improvements construction: and C. DEVELOPER agrees that DEVELOPER shall construct public street accesses, sidewalks, water mains, sanitary sewer mains and stubs, storm drain mains and stubs, detention pond and related piping, franchise utilities, private streets for the purpose of providing access from public streets to individual lots, within Six months from the date of the issuance of the first building permit in the development; and D. If DEVELOPER fails to complete installation of the required public improvements within six months from the date of the issuance of the first building permit, to City standards and as per the approved plans, CITY shall revoke occupancy of the entire development and shall revoke any applicable permit issued to DEVELOPER by CITY. VL SECURITY FOR IMPROVEMENTS: In lieu of DEVELOPER's construction and installation of all public improvements required herein and CITY'S acceptance of such for ownership and maintenance, CITY agrees that, upon receipt of the adequate security described in Moscow City Code Section 5· I -10, it will issue building permits (upon payment of all CITY development fees and satisfaction of Moscow City Code requirements) f(rr DEVELOPER's development. If DEVELOPER fails to complete installation of the pub lie improvements as required by CITY within six months from the date of the issuance of the first building permit in the development, CCTY 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 expense incurred Ÿ1s a result of DEVELOPER's failure to comply with this Agreement. Any engineering or construction costs in excess of the security shall be borne by DEVELOPER. Any additional construction services shall be perf(rrmed subject to the laws of the State of Idaho relative to public works contracting and bidding. VII. FORM OF SECURITY: DEVELOPER agrees to provide security for the public improvements in the amount to be determined by the City Engineer. This security shalJ be in the form of cash, construction bond, iJTevocable letter of credit from a certified bank or financial institution, or such other form of security acceptable to CITY. Such security shaJJ be provided to CITY prior to the issuance of building permits by CITY. The security must be effective for a minimum period of one year from the date of the issuance of the first building permit in the development. If this security is in Dt:VILOFVlL'\T AGi'ZEL\1E'\i r TJL\1f-'O Cm1MO;.;s 2007 ---PAGE BREAK--- 511946 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 within six months from the issuance of the first building permit in the development, CITY may claim the security and complete the said improvements. The amount of the security may, from time to time, be modified as deemed appropriate by the City Engineer as conditions warrant. If for any reason the security for such improvements shall be withdrawn by DEVELOPER 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, DEVELOPER 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. WARRANTY A. All required public improvements, once constructed and accepted by CITY for ownership and maintenance, shall remain free of defects in materials and workmanship for a period of one year following the date of CITY's written acceptance of such required public improvements warranty period). B. DEVELOPER shall be responsible for correcting any and all deficiencies which occur within the one year warranty period. C. For the one year warranty period, a warranty Security in fhe amount of fifteen percent ( 15%) of the estimated value of the required public improvements, as determined by the City Engineer, shall be furnished to CITY prior to issuance of any building permit in the development and such warranty Security shall be in effect for a minimum period of two years tfom the date of the date of the issuance of the first building permit. D. If DEVELOPER fails to correct all deficiencies within a reasonable amount of the time, CITY may claim the warranty security and cmrect the deficiencies. E. The warranty security may he in any form allowed under Section VII of this Agreement. IX PARKLAND DEDICATION: The Parkland Dedication requirement has already been fulfilled by the previous developer under the Southgate 2nu Subdivision. No further requirements are attached to this development. X. STREET TREES: The previous developer has voluntarily contributed two thousand dollars ($2,000) for the land here in described, placed in a street tree fund to be distributed to lot owners in the Southgate 2nd subdivision for the purchase of street trees in such Subdivision. The street tree fund amount for this subdivision (as calculated by CITY pursuant to Resolution 2000-02) shall be provided to the homeowner of subdivision lot or lots for the purchase of street trees to be planted In said ---PAGE BREAK--- subdivision lot or lots, in accordance with City of Moscow Standard Specifications and Drawings. Since this land is in a PUD and the land adjacent to the City Right-of-Way is proposed as a commonly owned piece of property the owner or developer may apply for these fund to plant landscape trees on behalf of the landowner association. Upon City Council acceptance of the Tiempo Commons PUD. the development will be eligible to apply for up to two thousand dollars ($2,000.(!0) from the City of Moscow's Tree Planting Dedication Fund. The funds will be made available to the developer in the form of a voucher once an application for a permit to plant in the public rights-of-way along White Avenue and Joseph Street has been received and approved. The funds shall only be used for the purchase of street trees as described in CITY Resolution 2000-02. Additionally, it is understand that the trees will be maintained by the Tiempo Commons, ŵ1oscow Homeowner's Association, which will act as the property owner adjacent to the rights of-way. XI. PHASING ALLOWED CITY may allow this development to occur in phases as specifically approved in writing by both the City Engineer and the Community Development Director. No building permit shall be issued for any phase of this development until after all public improvements related to each preceding phase of this development