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DEVELOPMENT AGREEMENT FEE BETWEEN THOMPSON DEVELOPMENT, LLC AND CITY OF MOSCOW, IDAHO FOR RIDGEVIEW ESTATES 2ND ADDITION SUBDIVISION THIS DEVELOPMENT AGREEMENT BETWEEN THOMPSON DEVELOPMENT, INC., AND CITY OF MOSCOW, IDAHO FOR RIDGEVIEW ESTATES 2ND ADDITION SUBDIVISION (hereinafter "Agreement") is entered into this l \ day of N o'le..mhe.,v= , 2014, by and between Thompson Development L.L.C., whose current address is 1024 Pine Crest Road, Moscow, Idaho, being the Developer of real property as described herein (hereinafter "DEVELOPER"), and the City of Moscow, Idaho, a municipal corporation of the State of Idaho, 206 East Third Street, Moscow, Idaho, 83843 (hereinafter "CITY"); W I T N E S S E T H: WHEREAS, DEVELOPER desires to develop property to be known as Ridgeview Estates 2nd Addition subdivision in the CITY of Moscow, Latah County, Idaho; and WHEREAS, DEVELOPER understands that improvements required herein are standards required pursuant to Moscow City Code Title 5, Chapter 1 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 water mains, fire hydrants, water services, sanitary sewer mains and stubs, storm sewer mains and stubs, storm water detention facilities, street lighting, franchise utilities, erosion control, streets, paving, curbs, traffic control devices (to include stop signs, street signs, etc.), sidewalks, and pedestrian paths 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; R!DGEVIEW ESTATES 2ND ADDITION DEVELOPMENT AGREEMENT PAGE 1OF7 1-0\4-80 ---PAGE BREAK--- NOW, THEREFORE, DEVELOPER and CITY hereby agree as follows: I. PROPERTY AFFECTED: 569338 This Agreement affects a parcel of land located in Lot 35, Section 16, T39N, R5W, B.M., to be known as Ridgeview Estates 2nd Addition subdivision within the CITY of Moscow, Latah County, Idaho, and more particularly described as follows: Beginning at the Southeast Comer of Southgate 3rd Addition to the City of Moscow, said point being N 89°44'48" W 1,315.58 feet from the East Yi Comer of Section 16, and the TRUE POINT OF BEGINNING; Thence S 00°21'13" W 701.72 feet along the east Boundary line of Ridgeview Estates 2nd Addition to a point on the northerly Right-of-Way line of State Highway 8; Thence S 67°14'03" W 398.83 feet along said northerly Right-of-Way line to a point; Thence continuing along said northerly Right-of-Way line which is a curve to the right having a radius of 3, 780.00 feet, a central angle of 04 °49' l a curve length of 317 .95 feet, and a chord length of 317.86 feet bearing S 69°38'37" W to the Southwest Comer of Ridgeview Estates 2nd Addition; Thence N 00°39'56" E 191.80 feet to the Southeast Comer of Ridgeview Estates 1st Addition; Thence N 00°39'56" E 777. 79 feet along the Easterly Boundary of said Ridgeview Estates 1st Addition to the Southwest Comer of said Southgate 3rd Addition; Thence S 89°44'48" E 658.84 feet along the southerly Boundary of said Southgate 3rd Addition to the TRUE POINT OF BEGINNING. This parcel contains 12.76 acres, more or less. II. PUBLIC IMPROVEMENTS: DEVELOPER agrees to install, at DEVELOPER's expense, public improvements and appurtenances required by Moscow City Code Sections 5-1-4 and 5-1-5 including, but not limited to, water mains, fire hydrants, water services, sanitary sewer mains and stubs, storm sewer mains and stubs, storm water detention facilities, street lighting, franchise utilities, erosion control, streets, paving, curbs, traffic control devices (to include stop signs, street signs, etc.), sidewalks, and pedestrian paths; all in accordance with CITY Standards duly adopted by Resolution of the CITY Council and in accordance with approved engineering plans. III. TERM: This Agreement shall remain in full force and effect in accordance with all 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. RIDGEVIEW ESTATES 2N D ADDITION DEVELOPMENT AGREEMENT PAGE20F7 ---PAGE BREAK--- IV. CITY'S COVENANT: 569!"38 CITY shall issue building permits to DEVELOPER's property only after the following has occurred: 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 5-1-10 and as described in Sections VI, VII and VIII herein, has been provided to ensure construction and warranty repairs of the required public improvements; and C. Compliance with applicable CITY permit issuance requirements. V. DEVELOPER's COVENANT: A. DEVELOPER agrees to construct, at DEVELOPER's expense, the public improvements described in Section II of this Agreement, 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. Once approved, six complete sets of plans will be submitted to the CITY Engineer. C. DEVELOPER agrees that DEVELOPER shall construct the public improvements described in Section II of this Agreement within each approved phase of the development, within nine months from the date of the issuance of the first building permit within said phase; and D. If DEVELOPER fails to complete installation of the required public improvements for each approved phase of the development, within nine months from the date of the issuance of the first building permit for said phase to CITY standards and as per the approved plans, CITY shall utilize the security described in Section VI and VII of this Agreement to complete the required public improvements and may have the right to revoke any applicable permit issued to DEVELOPER by CITY for the said phase. E. To be responsible for the setting of all property comers by a State of Idaho licensed land surveyor within nine months from the date of the issuance of the first building permit within said phase; and F. If DEVELOPER fails to complete installation of the required property comers for each approved phase of the development within nine months from the date of the issuance of the first building permit for said phase, CITY may utilize the security described in Section D.4. of the Monumentation Agreement for Ridgeview Estates znct Addition to have the comers set. R!DGEVIEW ESTATES 2ND ADDITION DEVELOPMENT AGREEMENT PAGE3 OF7 ---PAGE BREAK--- VI. 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 5-1-10, it will issue building permits (upon payment of all CITY development fees and satisfaction of Moscow City Code requirements) for DEVELOPER's development. If DEVELOPER fails to complete installation of the public improvements as required by CITY within nine months from the date of the issuance of the first building permit in the development, CITY 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 as 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 performed 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 shall be in the form of cash, construction bond, irrevocable letter of credit from a certified bank or financial institution, or such other form of security acceptable to CITY. Such security shall 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 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 nine 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). RlDGEVIEW ESTATES 2ND ADDITION DEVELOPMENT AGREEMEN T PAGE40F7 ---PAGE BREAK--- B. DEVELOPER shall be responsible for correcting any and all deficiencies which occur within the one year warranty period. C. Prior to issuance of any building permit in the development, a warranty Security or performance bond in the 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 by the DEVELOPER. This warranty Security shall be held by the CITY, or name the CITY as a holder of the warranty or as the beneficiary of the bond, and shall be in effect for a minimum period of one year from the date of CITY's written acceptance of the public improvements described in Section II of this Agreement. D. If DEVELOPER fails to correct all deficiencies within a reasonable amount of time, CITY may claim the warranty Security and correct the deficiencies. E. The warranty Security may be in any form allowed under Section VII. of this Agreement. IX. PARKLAND DEDICATION: Prior to construction of the subdivision, DEVELOPER agrees to voluntarily dedicate as parkland for the Ridgeview Estates 2nd Addition to the CITY of Moscow, Idaho as shown on the plat attached as Exhibit a parcel of approximately 0.321 acres appearing on the attached plat as Tract . Said parkland dedication, together with certain agreed upon improvements to the parkland property which include import, placement, and grading of topsoil, and seeding of site with appropriate grass seed mix, shall satisfy all parkland dedication required in Moscow CITY Code Section 5-1-5(F) for the Ridgeview Estates 2nd Addition. X. STREET TREES: DEVELOPER agrees to voluntarily contribute to CITY Ten Thousand, Six Hundred Dollars ($10,600) to be placed in a street tree fund to be distributed to lot owners in the Ridgeview Estates 2nd Addition 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 No. 2000-02) shall be provided to the homeowner of subdivision lot or lots for the purchase of street trees to be planted in said subdivision lot or lots, in accordance with current CITY of Moscow Standard Specifications and Drawings. Payment of the street tree fund amount shall be received by CITY prior to issuance of any building permits in the subdivision. XI. AS-CONSTRUCTED DRAWINGS: DEVELOPER agrees to furnish, prior to acceptance by CITY of the public improvements as required herein, one set of complete, Mylar, final as-constructed drawings for the public improvements described herein, as well as one complete, digital, AutoCAD copy, unless such requirement is waived by the CITY Engineer. XII. FAILURE TO COMPLY: DEVELOPER agrees to pay all expenses incurred by CITY in enforcing this Agreement. RlDGEVIEW ESTA TES 2ND ADDITION DEVELOPMENT AGREEMENT PAGE 5 OF7 ---PAGE BREAK--- XIII. BINDING ON HEIRS, ASSIGNS AND PURCHASER: 569338 This Agreement shall be binding upon the heirs, assignees of the parties, and subsequent purchasers of and/or within the property described herein. XIV. OCCUPANCY: DEVELOPER agrees that no person shall be allowed to occupy any approved phase of the development for any purpose until the described public improvements for said phase of the development are completed and accepted by CITY for maintenance or as otherwise provided for by a subsequent development agreement between the parties. XV. 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. XVI. MODIFICATION: DEVELOPER and CITY agree that the provisions of this Agreement may be modified only upon request of DEVELOPER accompanied by a complete set of development plans, and acceptance of such modification by the Moscow CITY Council or by a subsequent development agreement between the parties. XVII. 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 CITY, its successors and assigns. This Agreement shall be recorded with the Latah County Recorder. XVIII. 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 addressed: DEVELOPER: Thompson Development L.L.C. 1024 Pine Crest Road, Moscow, Idaho Moscow, Idaho 83843 Attn: Garrett A. Thompson CITY: Stephanie Kalasz, City Clerk City of Moscow P 0 Box 9203 Moscow, Idaho 83843 Phone: (208) 883-7000 Facsimile: (208) 883-7018 RloGEVIEW ESTATES 2N D ADDITION DEVELOPMEN T AGREEMEN T PAGE60F7 ---PAGE BREAK--- 569338 XIX. UNDERSTANDING: DEVELOPER has read and understood this Agreement and the contents thereof and has had the opportunity to avail itself of legal and of other counsel before entering into this Agreement and before signing it, and hereby enters into it voluntarily, willingly, and without inducement. IN WITNESS WHEREOF, the parties have executed this Agreement to be effective the date first above written. Thompson Development, L.L.C. k rrett A. Thompson, Authorized Agent of Thompson, Et Al, Inc., Member STATE OF IDAHO ) SS. COUNTY OF LATAH ) City of Moscow: ATTEST: ACKNOWLEDGMENT On this day of No\f-e.Mkv , 2014, before me, the undersigned, a Notary in and for said State, personally appeared Garrett A. Thompson, known to me to be the person whose name is subscribed to the foregoing and acknowledged to me that he executed the same on behalf of Thompson Development, L.L.C. IN WITNESS WHEREOF, I have hereunto set my hand a1 d-a.f ďxed my official seal the day and year hereinabove written. I . \ \AA . \...AJ_jl..ov- - OT · RY PUBLIC for the state of I c:k_ Residing at M osc. t:AAJ My Commission expires: lf- - d--Ol'S: RIDGEVIEW ESTATES 2ND ADDITION DEVELOPMEN T AGREEMEN T PAGE 7 0F7