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403101. DEVELOPMENT AGREEMENT THIS AGREEMENT is entered into this 7th day of March , 1994, by and between Clifford F. La then (hereinafter referred to as "Developer") and the City of Moscow, a municipal corporation of the State of Idaho (hereinafter referred to as the "City") , for purposes of improving real property within the City of Moscow; WITNESSETH: '(EREAS, The City of Moscow ordinances and regulations require the ins tall a tion of buffering adjacent to certain properties which are being built upon; and WHEREAS, Developer desires to improve the premises described in Section I of this Agreement; and WHEREAS, the parties mutually desire to ensure that such improvements are constructed; and WHEREAS, Developer has petitioned the City for a change in the zone of the premises from MB to R-4; NOW THEREFORE, and in consideration of the following mutual promises, Developer and the City hereby agree and covenant as follows: I. PROPERTY AFFECTED: The property which is the subject of this agreement is described as follows: Lots 4 and 5, Block 4, Replat of Blocks 3 and 4, Lathen Subdivision to the City of Moscow. II. PUBLIC IMPROVEMENTS: The Developer hereby agrees to complete improvements described as follows: Installation of a buffer along the east lot lines of Lots 4 and 5 and along the east 50 feet of the north lot line of Lot 4 and the east 50 feet of the south lot line of Lot 5; that said buffer be equivalent to a fence (between 3 1/2 to 4 1/2 feet in height limiting pedestrian access) plus an Buffer as required by the Moscow Zoning Ordinance (see Exhibit . The Developer agrees to pay all the costs of these improvements. III. CITY'S COVENANT: The City agrees to rezone the property from MB, Motor Business District, to R-4, Multiple Family Residential District. DEVELOPMENT AGREEMENT PAGE 1 ---PAGE BREAK--- 403101 IV. SECURITY FOR IMPROVEMENT: If the Developer fails to complete all improvements described in Section II within one hundred eighty (180) days of the agreement, the City shall initiate action to reverse the change in zoning designation, and shall not issue additional building permits or occupancy permits for any dwellings constructed on the property. V. HOLD HARMLESS: Developer agrees to hold the City harmless from any and/or all damages which may result from the City's actions in reversing the change in zoning as described in Section IV of this Agreement. VI. TERM: This agreement shall remain in effect until all improvements as described herein are completed and accepted by the City, and in no event shall the time period to construct the improvements described in section II exceed 180 days, unless said time period is extended by the City. If said time period is extended by the City, Developer shall undertake at its sole expense to extend for a like period the security for improvements. VII. COVENANTS TO RUN WITH LAND: This agreement shall run with the land and the benefits and burdens herein described shall be binding on the parties heirs, assigns and successors in interest. IN WITNESS WHEREOF, the Developer has executed this agreement to be effective the date first above written. DEVELOPER: CITY OF MOSCOW: Y'ic?§:P Paul C. Agidl · , Mayor DEVELOPMENT AGREEMENT PAGE 2 ---PAGE BREAK--- 403101 ACKNOWLEDGMENT State of Idaho ss County of Latah m On this 8 day of , 1994, me, a Notary Public in and for said State, appeared & I known to me to be the person named above and a nowledged that he foregoing agreement. , , q v s , ,