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404531 DEVELOPMENT AGREEMENT HOME CONSTRUCTION; 918 PUBLIC A VENUE, MOSCOW, IDAHO This Agreement is entered into this 18th day of Apri 1 1994, by and between Pat Planagan, DBA NBI Construction, (referred to as DEVELOPER) being owner and DEVELOPER of premises included in this agreement and the CITY of Moscow, a Municipal Corporation of Idaho, (referred to as CITY); WITNESSETH: WHEREAS, DEVELOPER desires to develop property within the CITY of Moscow described as 918 Public Avenue; and, WHEREAS, the CITY desires to ensure that all public improvements are properly installed by DEVELOPER; NOW THEREFORE, DEVELOPER and the CITY hereby agree as follows: I. PROPERTY AFFECTED: This agreement affects property within the CITY of Moscow described as 918 Public A venue. II. PUBLIC IMPROVEMENTS: A. Public Improvements: The DEVELOPER agrees to install, at its expense, a fire hydrant inclusive of all connections and water lines, in accordance with approved plans for DEVELOPER's development, to CITY standards during and under the terms of this Agreement. All plans and drawings shall be approved by the City Engineer and Fire Chief prior to the beginning of any construction of improvements. III. TERM: This agreement shall remain in effect until construction and installation of the public improvements and acceptance of such by the CITY for maintenance. IV. CITY'S COVENANT: The CITY shall issue building permits for DEVELOPER's development, (upon payment of permit fees, public utility in_spection fees of 0. 75% of estimated construction costs and satisfaction of CITY code requirements) only after construction and installation of the public improvements and acceptance of such by the CITY for maintenance as required herein, or after adequate security as described in paragraphs VI and VII has been provided to ensure proper construction of the required public improvements. V. DEVELOPER'S COVENANT: The DEVELOPER agrees as follows: A. The DEVELOPER agrees to install, at its expense, a fire hydrant inclusive of all connections and water lines to CITY standards during and under the terms of this Agreement. All plans and drawings shall be DEVELOPMENT AGREEMENT PATPLANAGAN PAGEl 94-26 ---PAGE BREAK--- 404531 approved by the City Engineer and Fire Chief prior to the beginning of any construction of improvements. B. If the DEVELOPER fails to complete installation of a fire hydrant inclusive of all connections and water line, to CITY standards, within NINETY (90) calendar days of the issuance of the first building permit, the CITY may utilize the security specified in paragraphs VI and VII to complete the work on said fire hydrant. The DEVELOPER further agrees that if DEVELOPER fails to complete installation of such public improvements, to CITY standards, within NINETY (90) calendar days from the date of issuance of the building permit, the CITY shall cease to issue further building permits for the affected property until such improvements are completed. VI. SECURITY FOR IMPROVEMENTS: The CITY agrees that upon receipt of the security described in Paragraph VII it wil issue building permits (upon payment of permit fees, public utility inspection fees of 0.75% of estimated construction costs and satisfaction of CITY code requirements) for the DEVELOPER's development. If the DEVELOPER fails to complete construction of the public improvements, within ninety (90) calendar days of issuance of the building permit, the CITY may attach the security and cause the improvements to be made. Any engineering or construction costs 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 ofldaho relative to the letting of such bids. VII. FORM OF SECURITY: The DEVELOPER agrees to provide security in the amount of FOUR THOUSAND DOLLARS ($4,000.00) for public improvements as identified and described in paragraph VI. above. The security shall be 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. Such security shall be provided to the CITY prior to the issuance of building permits by the CITY. The security must be effective for a minimum period of 210 days, or 180 days from the date of the issuance of the building permit, whichever is longer. If this security is in the form of an irrevocable letter of credit or bond, the secured improvements shall be constructed at least sixty (60) days prior to the expiration date of the security. If the public improvements identified and described in paragraph V. are not completed at that time, the CITY may claim the security and compiete 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 the DEVELOPER or the surety or financial institution, or the value or terms thereof shall be compromised in any way, the CITY shall immediately revoke any building permits issued pursuant to the terms contained herein, and further, the DEVELOPER shall hold the 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 are revoked pursuant to this section, such building permits shall be re-issued upon receipt by the CITY of new or additional security as required herein. DEVELOPMENT AGREEMENT PATPLANAGAN PAGE2 ---PAGE BREAK--- 404S31 VIII. AS-BUILT DRAWINGS: The DEVELOPER agrees to furnish, prior to acceptance by the CITY of the public improvements as required herein, one set of accurate, complete, mylar as-built drawings for all of the improvements described herein. IX. FAILURE TO COMPLY: If the DEVELOPER fails to comply with the terms of this agreement, the CITY, after ten (1 0) days written notice, may seek specific performance of the agreement and may attach the security to complete the improvements. The DEVELOPER agrees to pay all expenses incurred by the CITY in enforcing this agreement. X. BINDING ON HEIRS, ASSIGNS AND PURCHASERS: This agreement shall be binding upon the heirs, assignees of the parties, and purchasers of the property described herein. XI. OCCUPANCY: DEVELOPER agrees that no person shall be allowed to occupy any structure on the described property for any purpose until the described public improvements are completed and accepted by the CITY. XII. 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 for the State of Idaho in and for the County of Latah. The prevailing party to the action shall be awarded its reasonable costs and attorney's fees incurred in such litigation. XIII. MODIFICATION: DEVELOPER and the CITY agree that the provisions of this agreement may be modified only upon written request of the DEVELOPER accompanied by a complete set of development plans, and acceptance of such modification by the City Council. XIV. 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 the CITY, its successors and assigns. This development agreement shall be recorded with the Latah County Recorder. XV. 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: DEVELOPER: CITY: DEVELOPMENT AGREEMENT PATPLANAGAN Pat Planagan NBI Construction 816 Public A venue Moscow, Idaho 83843 Mayor City of Moscow P.O. Box 9203 Moscow, Idaho 83843 PAGE3 ---PAGE BREAK--- 404531 IN WITNESS WHEREOF, the parties have executed this agreement to be effective the date above written. DEVELOPER: CITY: Pat Planagan, DBA NBI Construction by: e Elaine Rusself,ITY cTefk"""' ACKNOWLEDGMENT STATE OF IDAHO ) ) ss County of Latah ) .tfo On this O day ol71t::tfi, 1994, before me, the undersigned, a Notary in and for said State, personally appe ed Paul C. m hts capac tty as the Mayor of the City of Moscow, Idaho that executed the foregoing instrument on behalf of the City, and acknowledged to me that such City executed the same. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and year hereinabove written. f! rl - e . 4-.lb NOTARY PUBLIC for Idaho PAT PLANAGAN Residing at , My Commission expires: c/9/ PAGE4 ---PAGE BREAK--- STATE OF IDAHO ) ACKNOWLEDGMENT ) ss County of Latah ) 404531 On this day of'-fi'IO- , 1994, before me, the undersigned, a Notary in and for said State, personally appeare Elame Russell, in her official capacity as the Clerk of the City of Moscow, Idaho that executed the foregoing instrument on behalf of the City, and acknowledged to me that she executed the same. IN WITNESS WHEREOF, I have hereunto set my band and affixed my official seal the day oand :tear hereinabove written . . P , i . · . . . ( ' , . . : • f. , " • r • . . f , r IC for Idaho;,1 Residing a //O:'Ooct My Commis ton expires: ACKNOWLEDGMENT STATE OF IDAHO ) ) ss County of Latah ) On this day of , 1994, before me, the undersigned, a Notary in and for said State, personally app ed Pat Planagan, DBA NBI ConstructiOn., known to me to be the person whose name is subscribed to the within statement and acknowledged to me that be executed the foregoing agreement. IN WITNESS WHEREOF, I have hereunto set my band and affixed my official seal the day and year hereinabove written. tt•11'"t'' 0 - ,I \ N E f? ;MN,, . _ , b' v,s - ( ` o * C o R t 7 Q-J \ ] R. ' ; ' _t 8 · , es1 mg a 6 _ 9 ci - n ' : "11 . I * & c ·c : My Commission expires:'?!i"t..?æ/99' : [ , . 1r = 7 \J 8 .,$oL j" H , t OF \K-r , . 'l DEVELOPMENT AGREEMENT PATPLANAGAN PAGES