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DEVELOPMENT AGREEMENT MARTHA GODFREY JABBORA 514 S. ALMON, MOSCOW, IDAHO THIS AGREEMENT is entered into this W- day of . 1995, by ttt and between Martha Godfrey Jabbora of 514 S. Almon, oscow, Idaho (hereinafter referred to as "Developer"), being owner and developer of premises included in this Agreement, and the City of Moscow, a municipal corporation of the State of Idaho (hereinafter referred to as "City"). WITNESSETH: WHEREAS, Developer desires to develop property located within the City of Moscow, Idaho, on 4th Street, being more particularly described as follows: Lots 41, 42 , 43 and 44, Block 6 Lieuallen's 3rd Addition to the City of Moscow, and as shown on Exhibit attached hereto and made a part hereof. 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 located within the City of Moscow, Idaho, on 4th Street, being more particularly described as Lots 41, 42 , 43 and 44, Block 6 Lieuallen's 3rd Addition to the City of Moscow, and as shown on Exhibit attached hereto and made a part hereof. II. PUBLIC IMPROVEMENTS: A. The Developer agrees to install, at her expense, for 4th Street adjacent to her property: curb, sidewalk, rock base aggregate, storm drain, and catch basin necessary to construct 4th Street adjacent to her property as required by the City Engineer, in accordance with approved plans for Developer's development, to City standards during and under the terms of this Agreement. B. The Developer agrees to provide cash in the amount of One Thousand Four Hundred Twenty Dollars ($1,420 .00) to the City for the City's use in the future installation of base aggregate and pavement necessary to construct one-half (112) of 4th Street adjacent to her property to thirty-six (36) feet in width, as required by the City Engineer, to City standards. DEVELOPMENT AGREEMENT MARTHA GODFREY JABBORA Page 1 95-49 ---PAGE BREAK--- All plans and drawings shall be approved by the City Engineer 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 inspection fees of0 .75% of estimated construction costs and satisfaction of City code requirements) only after payment in cash for future improvements and after construction and installation of the public improvements and acceptance of such by the City for maintenance 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 provide cash in the amount of One Thousand Four Hundred Twenty Dollars ($1,420 .00) to the City for the City's use in the future installation of base aggregate and pavement necessary to construct one-half (1/2 ) of 4th Street adjacent to her property to thirty-six (36) feet in width, as required by the City Engineer, to City standards. B. The Developer agrees to install, at her expense, for 4th Street adjacent to her property, the curb, sidewalk, rock base aggregate, storm drain, and catch basin, necessary to construct 4th Street as required by the City Engineer, in accordance with approved plans for Developer's development, to City standards during and under the terms of this Agreement. C. The Developer agrees that she shall install such curb, sidewalk, rock base aggregate, storm drain, and catch basin within one hundred twenty (120) days from the date of the issuance of the first building permit. D. All plans and drawings shall be approved by the City Engineer prior to the beginning of any construction of improvements. E. If the Developer fails to complete installation of such curb, sidewalk, rock base aggregate, storm drain, and catch basin within one hundred twenty (120) days from the date of the issuance of the first building permit to City standards, the City may utilize the security specified in paragraphs VI and VII to complete such public improvements. The Developer further agrees that if Developer fails to complete installation of such respective public improvements to City standards within such respective time periods, the City shall revoke occupancy of the entire development, revoke any applicable permit issued to Developer by the City, and shall cease to issue DEVELOPNffiNTAGREEMENT MARTHA GODFREY JAB BORA Page2 ---PAGE BREAK--- further building permits for the affected property until such improvements are completed. VI. SECURITY FOR IMPROVEMENTS: The City agrees, upon receipt of the security described in paragraph VII and upon satisfaction of all other requirements of this Agreement, that it shall 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 installation of such curb, sidewalk, rock base aggregate, storm drain, and catch basin within one hundred twenty (120) days from the date of the issuance of the first building permit to City standards, 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 of Idaho relative to the letting of such bids. VII. FORM OF SECURITY: A. The Developer agrees to provide security in the amount of Seven Thousand Four Hundred Dollars ($7,400.00) for public improvements as identified and described in paragraph II.A. The security shall be in the form of a construction bond, cash, certified or cashier's check or irrevocable letter of credit from a certified bank or financial institution. 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 two hundred forty (240) 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 one hundred twenty (120) days prior to the expiration date of the security. If the public improvements identified and described in paragraph II.A. are not completed at that time, the 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 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 MARTHA GODFREY JABBORA Page3 ---PAGE BREAK--- B. The Developer agrees to provide cash in the amount of One Thousand Four Hundred Twenty Dollars ,420.00) to the City for the city's use in the future installation of base aggregate and pavement necessary to construct one-half (l/2) of 4th Street adjacent to her property to thirty-six (36) feet in width, as required by the City Engineer, to City standards. Such payment shall be required prior to the issuance to the Developer of the first building permit. 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, unless such requirement is waived by the City Engineer. 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 and structure on the described property for any purpose until the described public improvements are completed. 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 of the Second Judicial District of the State of Idaho in and for the County of Latah. XIII. MODIFICATION: Developer and the City agree that the provisions of this Agreement may be modified only upon written request of the Developer accompanies 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 Agreement shall be recorded with the Latah County Recorder. XV. EXEMPTION FROM LOCAL IMPROVEMENT DISTRICT: Developer shall, for the following period, be exempt from, and not made to participate in, the costs of any local improvement district formed for the purpose of paving, including DEVELOPMENT AGREEMENT MARTHA GODFREY JABBORA Page 4 ---PAGE BREAK--- 41J1.b2 ônstallation of curb, gutter and sidewalk, of 4th Street. Such exemption shall be in effect until 4th Street has been improved to City standards, or for a period of thirty-five (35) years from the date hereof, whichever is longer. XVI. 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: Martha Godfrey Jabbora 514 S. Almon City: Moscow, ID 83843 Mayor City of Moscow P. 0. Box 9203 Moscow, ID 83843 IN WITNESS WHEREOF, the parties have executed this Agreement to be effective the date first above written. DEVELOPER: CITY: Qau.· - Martha Godbbora aul C. Agidius, Mayor DEVELOPMENT AGREEMENT MARTHA GODFREY JABBORA ATTEST: Page 5 ---PAGE BREAK--- · . . I ACKNOWLEDGMENTS STATE OF IDAHO ) ) SS. COUNTY OFLATAH ) On this /d d- day of , 1995, before me, a Notary Public in and for said State, appeared ' artha Godfrey Jabbora, known to me to be the person named above and acknowledged that she executed the foregoing Agreement. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and year hereinabove written. STATE OF IDAHO COUNTY OF LATAH ) ) ss. ) Notary Public in and for the State of Idaho Residing at My commission expires Y7 f' V, On this /f.JL day of , 1995, before me, a Notary Public in and for said State, appeared P ul C. Agidius, in his official capacity as the Mayor of the City of Moscow, Idaho, and acknowledged that he executed the foregoing Agreement on behalf of the City, and acknowledged to me that he executed the same. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and year hereinabove writtõn. DEVELOPMENT AGREEMENT MARTHA GODFREY JABBORA Notary Public in and for the State ofldaho Residing at My commission expires Z Page 6 ---PAGE BREAK--- STATE OF IDAHO ) ) ss. COUNTY OF LATAH ) 4131~2 On this !Lfq- day of 9a11(_ , 1995, before me, a Notary Public in and for said State, appeared ElahE'N CJǜ3 ¢ TOP 2558.74 , r-2\ HN@Ri 2558.1 HEj- ' . i - ǚ \ \ \ i'S. T.C. 2559 \4 · S9 O ' ' ' . , ' , I 20 10 0 20 40 60 EXiSTWG CURS BLOCK · E cr-r 0 r r-t
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