Full Text
· . ' V 1 I I UJ 11VUVVO I Of\ 11V, 1 C.UOOO.JOC.JY r. uƌ 405346 DEVELOPMENT AGREEMENT SUPERW ASH, INC. This Agreement is entered into this 31s-l-day of rf'.a.J{ • l994, by and between Supcrwash, Inc., 230 E. Main Street, P.O. Box 188, Monison, Illinois 61270, (referred to as DEVELOPER) being owner and developer of premises included in this agreement and the City of Moscow, a Municipal Corporation ofldaho, (referred to as CITY); WITNESSETH: WHEREAS, DEVELOPER owns property within the City of Moscow described in Exhibit attached hereto and incorporated by reference to this Agreement; and, WHEREAS) the CITY desires to ensur e 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 in Exhibit attached hereto and incorporated by referÌnce to this agreement. II. PUBLIC IMPROVEMENTS AND GRADING: The DEVELOPER agrees to install, at its expense, all curb, sidewalk, catch basins, and 12 inch stonn drain, in accordance with approved plans for Supcrwash, to City standards during and under the terms of this Agreement. All plans and drawings shall be approved by the City Engineer prior to the beginning of any construction of improvements. III. TERlvf: This agreement shall remain in effect until all public improvements are constructed for Supcrwash and said public improvements have been accepted by the CITY for maintenance. IV. CITY•s COVENANT: The CITY shall issue building pennits for Superwash, (upon payment of permit fees, public utility inspection fees of 0.75% of estimated const ruction costs and satisfaction of City code requirements) only after all public improvements have been constructed as required herein and said public improvements have been inspected and accepted by the City Engineer, 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. DEVELOPER shall install, at its expense, all curb, sidewalk, catch basins, and 12 inch stom1 drain, in accordance with approved plans for DEVELOPMENT AGREEMENT SUFERWASH, INC. PAGEl 94-37 ---PAGE BREAK--- MAY-26-94 THU 10:04 • •J CITY " MOSCOW P. 03 40S346 Superwash, to City standards during and under the terms of this Agreement. B: . If the, DE\'ELOPER fails to complete all public improvements, \Vi thin NINE fY (90) calendar days of the issuance of the first building pcnnit, the CITY may utilize the security specified in paragraphs VI and VII to complete the work on the public improvements. The DEVELOPER further agrees that if DEVELOPER fails to complete atl public improvements, within NINETY (90) calendar days from the date of issuance of the building permit, the CITY shall cease to issue further building pexmits for the affected property until such are completed. VI. SECURITY FOR IMPROVEMENTS: The CITY agrees that upon receipt of the secwity described in Paragraph VII it will 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 Superwash. If the DEVELOPER fails to complete construction of all of the 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 bomc 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 SECURJTY: The DEVELOPER agrees to provide security in the amount of NINE THOUSAND EIGHT HUNDRED DOLLARS ($9,800.00) in accordance with the calculation contained in Exhibit attached and incorporated herein by this reference, for public improvements as identified and described in paragraph VI. above. The security shall be in the fonn of a construction bond, irrevocable letter of credit from a certified bank or financial institution, or such other fom"l of security acceptable by the CITY. Such security shall be provided to the ClTY prior to the issuance of building permits by the CITY. The security must be effective for a minimum peiiod of 21 0 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 ͥhall 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 CI1Y may claim the secwity 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 inuncdiately revoke any building permits issued pursuant to the 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 pennits . If any building permits arc 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 SUPBRWASH, ll-l'C. PAOE2 ---PAGE BREAK--- MAY-26-94 THU 10:05 CIT" , MOSCOW FAX NO. 12" 138254 P.04 405346 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: Ifthe 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 HEIRSâ ASSIGNS AND PURCHASERS: This agreement shall be binding upon the heirs, assignees of the parties, and purchasers of the property described herein. XL OCCUPANCY: DEVELOPER agrees that no person shall be allowed to occupy any structure on the desclibed property for any purpose until the described public improvements arc 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 tbe District Court for the State of Idaho in and for the of Latah. The prevailing party to the action shall be awarded its reasonabl e 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 covenantͤ contained herein, a.nd 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 whoo delivered by certified or registered United States Mail to the following addresses: DEVELOPER: Superwash, Inc. 230 E. Main Street P.O. Box 188 CITY: DEVELOPMENT AGREEMENT SUPERWASH. INC. Morrison, Illinois 61270 (815) 772-2111 Fã'X: (815) 772-7160 Mayor City of Moscow P.O. Box 9203 Moscow, Jdaho 83843 (208) 883-7000 FAX: (208) 883-7018 PAGE3 ---PAGE BREAK--- MAY-26-94 THU 10: 05 CITV MOSCOW FAX NO. 12r '38254 P. 05 qos346 lN WlTN.ESS WHEREOF, the parties have executed this agreement to be effective the date first above written. DEVELOPER: Superwash, Inc. as h B. Hermes, Vice President ATTEST: by: :Secretary CITY: Q P Paul C. Agidi ATTEST: ACKNOWLEDGMENT STATE OF IDAHO ) ) ss County of Latah ) :a On this  day , 1994, before me, the undersigned, a Notary in and for said State, personall appeared Paul C. Agtdtus, 1n his offictal capactty 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 hcrci11above \vri.tten. /7 , C - E R NOTARY PUBLIC for lda o ͠ ͡ Uft͢ ͣ . . \ Residing at Llfb;IC...([U/ • ͒q • ͍ . f . ͌ 0 ͏ My Conunission cxpircs:*t/99 z \ - / : : ͟ , . : : e O"CIndersigD:ed, a Notary in and tor said State, personally app ed · , . : Ân'lns official capactty as Secretary_:; _of Superv..·ash, Inc., known to me to be the person whose name is subscribed to the within statement and acknowleqged to me that he has the authority to execute such agreement on behalf of the corporation, and that he executed the foregoing agreement. TN WITNESS WHEREOF, J have hereunto set my hand and affixed my official seal the day and year hereinabove written. . . . "OFFICIAL SEAL" LuELLEN K. BELT -'-:otary Public, State of Illinois : C:ommisslon Expires 10/14195 ' DEVELOPMENT AGREEMENT SUPERWASH, INC. ci?flkV'-Jd&J NOTARY PUBLIC for͉ Residing at rn Q i͆W\ I ÁN My Commission expires: l o͊1y-Cls PAGE6 ---PAGE BREAK--- MAY-26-94 THU 10:07 CITY MOSCOW FAX NO. 12r 18254 EXHIBIT A- DEVELDPM£NT AGREE-MENT Sli-E " . _ :1 c aullor ·::lory Tr•ÚÛ. ollon \ Veofch Sfreef Jillf (f'bf oaow Standard (l A4d 9ravel as roqy· to mo•l clly •l<>no;lq - ̿ ̀ V) ́ .g 75.0S Utility pole to be r< by tompony TC 7Ɖ.06 I ! I l 1 Nolo: All In o<:Gordonc, Drop eurb to I 1/2' ol alloy • lo from C.B • , , . . . , . , . . . . . P. 08 ·105346 ---PAGE BREAK--- MAY-26-94 THU 10:08 C ITY ×r MOSCOW FAX NQ 12nnoq33254 ' E.X\-\\B\T B -DEVELOPMENT AGREEMENT : . P. 09 405346 . ( w.)r ·v1a 0 f' "r u : c͚ . \.J_Ql_yyo . - { : . : \0P!T:0G"t . . - - È . . W'vr ͘J . - - * l J - 1 I f't _J..o.__»fVI.i.L.D 25.0 un. Tl. Ɔ }0.00 -.-L5Di : Ç 2. 16.0...._NI RJ.t. 212º0 _ _ _ _...3.._e_afch sasm 1 e.a.c1M 15o.ao 7fJJ-- tz-mcb storm Dram BS.._ _ ---E--TDJAL . . 405346 NO. ---PAGE BREAK--- IRREVOCABLE LETTER OF CREDIT To: City of Moscow 206 E. Third Street Moscow, Idaho 83843 Gentlemen: First of America Bank - Quad Cities, N.A. 220 E. Main Street P.O. Box 152 Morrison, Illinois 612 70-0152 Telephone [PHONE REDACTED] The undersigned, First of America Bank - Quad Cities, N.A., by its Vice-President, Leanne Earhart, its duly authorized agent, hereby issues to the City of Moscow, State of Idaho, this Irrevocable Letter of Credit in the amount of Nine thousand eight hundred and no/1 Oaths dollars ($9,800.00), which such credit may be drawn by said City at sight on us. Demands on said letter of credit must be accompanied by the certificate from the City of Moscow certifying either: that said letter of credit is about to expire and has not been renewed; or that work has not been completed in accordance with the plans, specifications and agreements (including any amendments thereof) for the Super Wash car wash facility project at Hwy. 8 and Adams Street, Moscow, Idaho, more particularly described as follows: See Attached "Exhibit All sight drafts drawn under this Credit must be marked "Drawn under First of America Bank - Quad Cities, N.A. Irrevocable Standby Letter of Credit No. 289 dated May 27, 1994. This credit shall be governed by Uniform Commercial Code as enacted in Illinois from time to time, and to the extend not modified by said law, the Uniform Customs and Practice for Documentary Credits, International Chamber of Commerce Publication No. 500 (1993 Revision). This Irrevocable Letter of Credit shall expire on December 23, 1994, provided however, the undersigned shall notify the City, by certified mail, return receipt requested, at least 14 days prior to said expiration date that said letter of credit is about to expire. In no event shall this Irrevocable Letter of Credit or the obligations contained herein expire except upon said prior written notice, it being expressly agreed by the undersigned that the above expiration date shall be extended as shall be required to comply with this notice provision. The undersigned further agrees that this Irrevocable Letter of Credit shall remain in full force and effect and pertain to any and all amendments or modifications which may be made from time to time to the plans, specifications and agreements for the Project, without notice from said City of such amendments or modifications. All acts, requirements and other preconditions for the issuance of this Irrevocable Letter of Credit have been completed. First of America Bank - Quad Cities, N.A. hereby undertakes and engages that all demands made in conformity with this Irrevocable Letter of Credit will be duly honored upon presentation. If, within 1 0 days of the date any demand (made in conformity with this Irrevocable Letter of Credit) is presented, we fail to honor same, we agree to pay all attorney fees, court costs and other expenses incurred by the City of Moscow in enforcing the terms of this Letter of Credit. DATED: May 27, '1994 (SEA͗) ---PAGE BREAK--- The East 72 feet of Lots 7, 8 and 9, Block 17, Sunnyside Addition to the City of Moscow, as shmv-n by the recorded plat thereoff EXCEPTING THEREFROH that portion deeded to the State of. Idaho for highway, as more fully set out in Book 96 of Deeds at page 630, records of Latah County, Idaho. i ---PAGE BREAK--- First of America Bank - Quad Cities, N.A. 1 00 Seventeenth Street Rock Island, Illinois 61201 Telephone [PHONE REDACTED] FI¹Sf°F ̻ December 2, 1994 AMRI0\0 City of Moscow 206 East Third Street Moscow, Idaho 83843 Dear Sir: On May 31, 1994, First of America Bank-Qad Cities, N.A. issed an Irrevocable Letter of Credit for the benefit of Sper Wash, Inc. in Morrison, Illinois to the City of Moscow in the amont of $9,800.00. This letter of credit will expire on December 23, 1994. This letter of credit will expire nless the enclosed copy of this letter is signed and retrned to s in the envelope provided by December 19, 1994. If yo have any qestions, please call me. Thank yo. Sincerely, Linda Wilkens Commercial Loan Secretary Enclosre ---PAGE BREAK--- First of America Bank - Quad Cities, N.A. 1 00 Seventeenth Street Rock Island, Illinois 61201 Telephone [PHONE REDACTED] FII{Sf°F t December 2, 1994 AM RICA City of Moscow 206 East Third Street Moscow, Idaho 83843 Dear Sir: On May 31, 1994, First of America Bank-Quad Cities, N.A. issued an Irrevocable Letter of Credit for the benefit of Super Wash, Inc. in Morrison, Illinois to the City of Moscow in the amount of $9,800.00. This letter of credit will expire on December 23, 1994. This letter of credit will expire unless the enclosed copy of this letter is signed and returned to us in the envelope provided by December 19, 1994. If you have any questions, please call me. Thank you. Sincerely, Linda Wilkens Commercial Loan Secretary Ertc 1 osare We do not want this letter of credit to expire. Signature Date