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AUG-27-1997 12:25 MOSCOW CITY HALL ANNEX DEVELOPMENT AGREEMENT PHASE II- PARTIAL REPLAT OF HATLEY ADDITION TO THE CITY OF MOSCOW P.02 429670 TillS AGREEMENT is entered into this ..2B]:Iday of , 1997, by and between SSL Properties, LLC, a limited liability compy of the State of Wisconsin (referred to as "DEVELOPER"), being Developer of real property as described herein, and City of Moscow, Idaho, a Municipal Corporation of Idaho (referred to as "CITY''). WITNESSETH: WHEREAS, DEVELOPER desires to develop property located within Phase II of the Replat of Lot 1, Block 2, of Partial Replat of Hatley Addition to the City of Moscow, Latah County, Idaho, and more specifically Lots 4 and 5 of such Replat as part of the development of Phase II; and WHEREAS, CITY desires to ensure that a public improvement consisting of a sewer line and utility easement which is designed to extend from War Bonnet Drive to a point within Lot 4 of the Replat of Lot 1, Block 2, of Partial Replat of Hatley Addition to the City of Moscow, Latah County, Idaho, to the eastern lot line of Lot 1, Block 4, Hatley Addition; NOW THEREFORE, DEVELOPER and CITY hereby agree as follows: I. PROPERTY AFFECTED: This Agreement affects property located within the City of Moscow, Idaho, known as Replat of Lot 1, Block 2, of Partial Replat of Hatley Addition to the City of Moscow, Latah County, Idaho, being more particularly described in Exhibit attached hereto and incorporated herein by this reference. IT. PUBLIC IMPROVEMENT: The extension of a sanitary service from the eastern boundary of Lot 4 of Replat of Lot I, Block 2, of Partial Replat of Hatley Addition to the City of Moscow, Latah County, Idaho through Lot 4 and to the western boundary of Replat of Lot 1, Block 2, of Partial Replat of Hatley Addition to the City of Moscow, Latah County, Idaho, adjacent to Lot 1, Block 4, Hatley Addition, presently occupied by Appaloosa Horse Club, Inc. 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 the public improvement required herein is constructed and installed and such public improvement is accepted by the CITY for maintenance. DEVELOPMENT AGREEMENT PHASE 2 PARTIAL REPLAT OF HATI.EY ADDmON Page 1 97-35 ---PAGE BREAK--- AUG-27-1997 12:25 MOSCOW CITY HALL ANNEX P.03 429670 fV. CITY'S COVENA."'T: CITY shall issue building permits for DEVELOPER's development for Lot 4 and/or Lot 5, (upon payment of permit fees, public utility inspection fees of 0.75% of estimated construction costs and satisfac'tion of CITY code requirements) only after construction and installation of the public improvement and acceptance of such by the CITY for maintenance. V. DEVELOPER'S COVENAN!: DEVELOPER agrees to construct, at its sole expense, to CITY standards and in accordance with approved engineering plans for the Replat of Lot I, Block 2, of Partial Replat of Hatley Addition, the public improvement described in Section Il. of this Agreement. VI. AS-BUll..T DRAWINGS: DEVELOPER agree to furnish, prior to acceptance by CITY of the public improvement as required herein, one set of accurate, complete, mylar as-built drawings for the improvement described herein, unless such requirement is waived by the City Engineer. VII. FAILURE TO COMPLY: DEVELOPER agrees to pay all expenses incurred by CITY in enforcing this Agreement. Vill. BINDING ON HEIRS. ASSIG!'