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DEVELOPMENT AGREEMENT LOT ONE, BLOCK ONE, AND LOT ONE IN BLOCK TWO, NELSON ADDITION TO THE CITY OF MOSCOW 437823 THIS AGREEMENT is entered into this il!Vl day of f-\00LYJC , 1998, by and between Jeff DeMeerleer, Dewey Whiting and Kimberly DeMeerleer (referred to as "DEVELOPER"), being Developer of real property as described herein; City of Moscow, Idaho, a Municipal Corporation of Idaho (referred to as "CITY"); and John and Keith Bieren, owner of real property herein (referred to as "OWNER"). WITNESSETH: WHEREAS, DEVELOPER desires to begin development of the property known as Lot One, Block One, and Lot One in Block Two, Nelson Addition to the City of Moscow, Latah County, Idaho; and WHEREAS, CITY desires to ensure that public improvements consisting of all construction work on Nelson Avenue and Street, including water, sanitary sewer, curbs, sidewalks, underdrain, earthwork, and storm drainage facilities, and construction work necessary to complete one-half of the installation of necessary sewer, water, and storm drainage systems, grading streets, gravel street surface, installing concrete curbs on both sides, and concrete walk on one side of Street adjacent to Lot One, Block One, and Lot One, Block Two, and for all of Nelson Avenue lying between Lot One, Block One, and Lot One, Block Two, of the Nelson Addition to the City of Moscow are constructed; and WHEREAS, OWNER is obligated under Development Agreement signed the 5th day of November, 1984, to have installed the improvements as set out herein and is now desirous that the Development Agreement between DEVELOPER and CITY be consummated so that his security for the improvements can be returned and so that this Development Agreement relieves OWNER from the Development Agreement of November 5, 1984 and also obligates OWNER to grant to CITY the first lien on the property; 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 Lot One, Block One, and Lot One in Block Two, Nelson Addition to the City of Moscow, Latah County, Idaho, and as shown in Exhibit attached hereto and incorporated herein by this reference. II. PUBLIC IMPROVEMENTS: All public improvements required by Moscow City Code Section 5-1-5(0) and including but not limited to all construction work on Nelson Avenue and Street, including water, sanitary sewer, curbs, sidewalks, underdrain, earthwork, and storm drainage facilities, and construction work necessary to complete one-half of the installation of necessary sewer, water, and storm drainage systems, grading streets, gravel street surface, installing concrete DEVELOPMENT AGREEMENT LOT I. BLOCK l, ANTI LOT l IN BLOCK 2, NELSON ADDITION Page 1 ---PAGE BREAK--- 437823 curbs on both sides, and concrete walk on one side of Street adjacent to Lot One, Block One, and Lot One, Block Two, and for all of Nelson Avenue lying between Lot One, Block One, and Lot One, Block Two, of the Nelson Addition to the City of Moscow All plans and drawings for such required public improvements shall be approved by the City Engineer prior to the beginning of any construction of any such public improvements. Ill. TERM: This Agreement shall remain in effect until the public improvements required herein are constructed and installed and such public improvements are accepted by the CITY for maintenance. IV. CITY'S COVENANT: CITY shall issue building permits for DEVELOPER'S development of Lot One, Block One, and Lot One in Block Two, Nelson Addition to the City of Moscow, Latah County, Idaho (upon payment of permit fees, public utility inspection fees of 0. 75% of the City Engineer's estimated construction costs and satisfaction of CITY code requirements) only after construction and installation of all public improvements and acceptance of such by the CITY for maintenance or after developer has paid or after adequate security as described herein pursuant to Moscow City Code § 5-1-10 has been provided to ensure proper construction of the required public improvements. Adequate security in this case shall consist of a first lien on OWNER'S property in the amount of Thirty Seven Thousand Six Hundred Dollars ($37,600) and any additional expense as figured at the time of installation of the required public improvements herein. V. DEVELOPER'S COVENANT: DEVELOPER agrees to construct, at DEVELOPER'S sole expense, to CITY standards and in accordance with approved engineering plans for Lot One, Block One, and Lot One in Block Two, Nelson Addition to the City of Moscow, Latah County, Idaho, the public improvements described in Section II of this Agreement upon notification by CITY that such improvements are necessary to provide access to adjacent and/or contiguous properties via improved street( s) as determined by the Moscow City Council. VI. OWNER'S COVENANT: OWNER agrees to and does hereby grant CITY the first lien on the property described herein at paragraph I. of this Development Agreement in the amount of Thirty Seven Thousand Six Hundred Dollars ($37,600) or any other amount equal to the cost of required public improvements as of the date such improvements are installed, which lien shall be primary and above all other liens, obligations, and encumbrances on such property, and OWNER further DEVELOPMENT AGREEMENT LOT I, BLOCK I, AND LOT I IN BLOCK 2, NELSON ADDITION Page 2 ---PAGE BREAK--- 437823 covenants that no other lien, obligation, or encumbrance shall be placed in a position superior to CITY'S lien. VII. SECURITY FOR IMPROVEMENTS. In lieu of DEVELOPER'S construction and installation of all public improvements required herein and CITY's acceptance of such for maintenance, CITY agrees that upon receipt of a purchase and sale agreement and accompanying deed which clearly sets out the fact that CITY is a first lien holder in the amount of Thirty Seven Thousand Six Hundred Dollars ($37,600) and any additional amount (as figured at the time of installation of the required public improvements) for the cost of the required public improvements herein, it will issue building permits (upon payment of permit fees, public utility inspection fees of 0. 75% of the City Engineer's estimated construction costs and satisfaction of City Code requirements) for DEVELOPER'S development. If DEVELOPER fails to complete installation of the public improvements as required by CITY, CITY may foreclose against OWNER'S property in an amount of the cost of the required public improvements and expenses, including attorney's fees and costs, necessary to insure installation of the public improvements. Any engineering or construction costs in excess of the security shall be borne by 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. VIII. FORM OF SECURITY. A. DEVELOPER agrees to and does hereby provide security in the form of a first lien on OWNER'S property in the amount of Thirty Seven Thousand Six Hundred Dollars ($37,600) and any additional cost of required public improvements on such property. Such security is and shall be provided to CITY simultaneously with the execution of this Development Agreement and prior to the issue of any further building permits by CITY. The amount of the security may, from time to time, be modified as deemed appropriate by the City Engineer as conditions warrant and shall at all times be an amount equal to the current costs of public improvements required. As improvements are completed and accepted by CITY for maintenance, the amount of security may be reduced to reflect such completions, provided that such amount shall not be reduced to an amount less than the adjusted estimate of costs of the remaining improvements to be constructed. B. If for any reason the security for such improvements shall be withdrawn by DEVELOPER or the surety or financial institution, or the value or terms thereof shall be compromised in any way, CITY shall immediately revoke any building permits issued 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 are revoked pursuant to this or any subsequent Development Agreement, such building permits shall be re-issued upon receipt by CITY of new or additional security as required therein. DEVELOPMENT AGREEMENT LOT I, BLOCK I, AND LOT liN BLOCK 2. NELSON ADDITION Page 3 ---PAGE BREAK--- IX. CONSTRUCTION DRAWINGS: 437823 DEVELOPER agrees to furnish, prior to acceptance by CITY of the public improvements as required herein, one set of accurate, complete, mylar final construction drawings for the public improvements described herein, unless such requirement is waived by the City Engineer or is otherwise modified by a subsequent development agreement between the parties. X. FAILURE TO COMPLY: DEVELOPER agrees to pay all expenses incurred by CITY in enforcing this Agreement, including but not limited to costs, expenses, and attorney's fees of foreclosure proceedings against the property described herein, should foreclosure be pursued by CITY. XL BINDING ON HEIRS, ASSIGNS AND PURCHASERS: This Agreement shall be binding upon the heirs, assignees of all the parties, and subsequent purchasers of the property described herein. XII. OCCUPANCY: DEVELOPER agrees that no person shall be allowed to construct additional improvements or to occupy any new structures within lot One, Block One, or Lot One in Block Two, Nelson Addition to the City of Moscow, Latah County, Idaho, for any purpose until the described public improvements are completed and accepted by CITY for maintenance or as otherwise provided for by a subsequent development agreement between the parties. Such a subsequent development agreement may provide for the posting of security as provided for in Moscow City Code Section 5-1-10. XIII. 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. XIV. MODIFICATION: DEVELOPER and CITY agree that the provisions of this Agreement may be modified only upon written request of DEVELOPER accompanied by a complete set of development plans, and acceptance of such modification by the City Council or by a subsequent development agreement between the parties. XV. 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. DEVELOPMENT AGREEMENT LOT I, BLOCK I, AND LOT I IN BLOCK 2, NELSON ADDITION Page 4 ---PAGE BREAK--- 437823 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: OWNER: Jeff DeMeerleer Dewey Whiting Kimberly DeMeerleer 215 East Palouse River Drive Moscow, ID 83843 Telephone: (208) 883-3368 Marshall H. Comstock, Mayor City of Moscow P.O. Box 9203 Moscow, Idaho 83843 Telephone: (208) 883-7000 FAX: (208) 883-7018 John and Keith Bieren 410 South Lincoln Moscow, ID 83843 Telephone: (208) 882-0766 IN WITNESS WHEREOF, the parties have executed this Agreement to be effective the date first above written. DEVELOPER: CITY: OR: !J < jl# Keith Bieren DEVELOPMENT AGREEMENT LOT I, BLOCK I, AND LOT I IN BLOCK 2, NELSON ADDITION Page 5 ---PAGE BREAK--- STATE OF IDAHO ) ) ss County of Latah ) 437823 On this day of , 1998, before me, the undersigned, a Notary in and for said State, personal! ppeared DEVELOPER Jeff DeMeerleer, known to me to be the person whose name i subscribed to the foregoing Development Agreement and acknowledged to me that he executed the same. and affixed my official seal the County of Latah On this day of , 1998, before me, the undersigned, a Notary in and for said State, person appeared DEVELOPER Dewey Whiting, known to me to be the person whose name 1s subscribed to the foregoing Development Agreement and acknowledged to me that he executed the same. STATE OF IDAHO ) ) ss County of Laten ) n/L 1= · On this L day of I"-C: