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DEVELOPMENT AGREEMENT MC LAM ENTERPRISES 324 MORTON STREET, MOSCOW, IDAHO This Agreement is entered into this -LL.t.l> day of , 1995, by and between McLam Enterprises (referred to as Developer), being owner and Developer of real property included in this Agreement, and the City of Moscow, a Municipal Corporation ofldaho (referred to as City). WITNESSETH: WHEREAS, Developer desires to develop property located within the City of Moscow, Idaho, known as 324 Morton Street, 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, known as 324 Morton Street, being more particularly described m Exhibit" attached hereto and incorporated herein by this reference. II. PUBLIC IMPROVEMENTS: The Developer agrees to install, at his expense, for Adams Street and Morton Street adjacent to his property: catch basin and pipe. earthwork and grading, curb, gutter, sidewalk, base aggregate and asphalt necessary to construct Adams Street a distance of 7 5 feet north from the intersection of Adams Street and Morton Street, and to install curb and gutter an additional 75 feet north along Adams Street and to widen Morton Street adjacent to Developer's property to a width of36 feet, 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. All plans and drawings shall be approved by the City Engineer prior to the beginning of any construction of improvements. Provided, however, that the Developer shall not be required to install curb along the east side of Adams Street and provided further that the Developer shall not be required to install 585 square feet of base aggregate and paving of Adams Street and provided further that Developer shall not be required to install a catch basin and pipe on the east side of Adams Street. Ill. 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 of 0.75% of estimated construction costs and satisfaction of City code requirements) only after construction and installation of the pub I ie 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 install, at its sole expense, to Ciry standards and in accordance with approved engineering plans for Developer's development, all public improvements described in section II. of this Agreement. All plans and drawings shall DEVELOPMENT AGREEMENT MC LAM ENTERPRISES PAGE l ---PAGE BREAK--- be approved by the City Engineer prior to the beginning of any construction of improvements. B. If the Developer fails to complete installation of the public improvements required in section II. of this Agreement within NINETY (90) 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 the public improvements. The Developer further agrees that if Developer fails to complete installation of such respective public improvements, to City standards, within such NINETY (90) days, the City shall revoke occupancy of the entire development, revoke any applicable permit issued to Developer by the City and shall cease to issue further building permits for the affected property until such improvements are completed. Developer specifically waives any claim for damages whatsoever for the City's exercise of such revocation. VI. SECURITY FOR IMPROVEMENTS: The City agrees that upon receipt of the security described in Paragraph VII it will issue building permits (upon payment of permit fees, public utility inspection fees of0 .75% of estimated construction costs and satisfaction of City code requirements) for the Developer's development. If the Developer fails to complete installation of the required public improvement.' within the time required in section V.B. of this Agreement, 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: The Developer agrees to provide security in the amount of THIRTEEN THOUSAND SIX HUNDRED SEVENTY FIVE DOLLARS ($13,675.00) for required public improvements as identified and described herein. The security shall be in the form of a construction bond, irrevocable letter of credit from a certified bank or financial institution, or such other form of security acceptable to the City. 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 ONE HUNDRED EIGHTY days (180) 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 NINETY (90) days prior to the expiration date of the security. If the public improvementâ identified and described in paragraph II. are not completed at that time, the City may claim the security and complete the said improvements in accordance with this Agreement. 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. 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. DEVELOPMENT AGREEMENT MC LAM ENTERPRISES PAGE2 ---PAGE BREAK--- IX. FAILURE TO COMPLY: If the Developer fails to comply with the terms of this Agreement, the City, after ten ( l 0) days written notice, may seek specific performance of the Agreement and may attach the security to complete the improvements. The Developer agree to pay all expenses incurred by the City in enforcing this Agreement. X. BINDING ON HEIRS, ASSIGNS AND PURCHASERS: This Agreement shall he 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 any 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 he 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 he 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 covenants contained herein, and shall be to the benefit of the City, its successors and assigns. This Agreement shaH be recorded with the Latah County Recorder. XV. EXEMPTION FROM LOCAL IMPROVEMENT DISTRICT: Developer shaH, 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 installation of curb, gutter and sidewalk. of Adams Street. Such exemption shall be in effect until Adams Street has been improved to City standards, or for a period of thirty five 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: City: DEVELOPMENT AGREEMENT MC LAM ENTERPRISES McLam Enterprises 1384 Walenta Drive Moscow, Idaho 83843 Mayor City of Moscow P.O. Box 9203 Moscow, Idaho 83843 PAGE3 ---PAGE BREAK--- IN WITNESS WHEREOF. the parties have executed this Agreement to be effective the date first abnve written. Developer: McLam Enterprises Sandra K. McLam STATE OF IDAHO ) ss County of Latah ) City: ATTEST; ACKNOWLEDGMENTS On this ; ' Tay of , 1995. before me, the undersigned, a Notary in and for said State, personally appeared Paul C. Ngidius, in his official capacity 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 hereinabove written. STATE OF IDAHO County of Latah ) ) ss ) R t::t'ǃ/ J On thisã day of 16IJK1995, before me, the undersigned, a Notary in and for said State, personally appeared Elaine Rus. ll, m her official capacity as the Clerk of the Clly of Moscow. Idaho that executed the foregoing instrument on behalf of the City. and acknowledged to me that she executed the same. IN WITNESS WHEREOF, l have hereunto set my hand and affixed my official seal the day and year hereinabove written. r· uC;:ah?7?Jr DEVELOPl\iNT AGREEMENT MC LAM ENTERPRISES Residing at --;/z-zêé ç-è My Commission expires: PAGE4 ---PAGE BREAK--- STATE OF IDAHO ) ) ss County of Latah ) On this lL_ ìay of JzGH. 1995, before me, the undersigned, a Notary in and for said State, personally appeared Sandra ů McLam, known to me to be the person whose name is subscribed to the within statement and acknowledged to me 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. DEVELOPMENT AGREEMENT MC LAM ENTERPRISES PAGES ---PAGE BREAK--- 39N 05W 08 z 0 1'7 CfJtæ> 18 c lq I l·ŭ:l,640Ůf I " 59?0 $1 Hy; 1- Ù a !451f.)o'oSf I It c ' 15 l b c r:Ý:s-· lh J35' ƻ c l7Û -10,80•) Sf IB ">-100sr 7 ,q ū400 SF cl , , 2o /351 ŧŨ 5-400$!,. 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