Full Text
388909 DEVELOPMENT AGREEMENT Partial Replat of Hatley Addition This agreement is entered into this 1 day of 1991, by and between George B. Hatley and Iola Hatley, Berneda Grace Hatley Hamilton and Charles Hamilton, and Veletta Rae Hatley Frink and 0. Eugene Frink, (referred to as DEVELOPERS) being developers of real property included in this agreement and the city of Moscow, a Municipal Corporation of Idaho, (referred to as CITY) ; WITNESSETH: WHEREAS, DEVELOPERS own property within the City of Moscow described as the Partial Replat of Hatley Addition to the City of Moscow; and WHEREAS, the CITY desires to ensure that all public improvements are properly installed by DEVELOPERS; WHEREAS, the DEVELOPERS and the CITY have previously entered into development agreements and desire to revoke the terms and covenants provided in those agreements; NOW THEREFORE, DEVELOPERS and the CITY hereby agree and covenant as follows: I. II. III. REVOCATION OF PREVIOUS AGREEMENTS/COVENANTS: The DEVELOPERS and CITY hereby revoke and terminate those prior agreements and covenants recorded in instrument number 345770, records of Latah County, Idaho. PROPERTY AFFECTED: This agreement affects real property known as the Partial Replat of Hatley Addition to the City of Moscow, Latah County, Idaho. This property is described in the plat identified as 'Appendix A' which is attached to and incorporated into this agreement. PHASING OF DEVELOPMENT: DEVELOPERS may phase the development of the subdivision in three phases, which are described in Appendix A. Construction of public improvements in Phase I shall be completed within two hundred and seventy (270) calendar days of issuance of the first building permit in Phase I; construction of public improvements in Phase II shall be completed within ninety (90) calendar days of issuance of the first building permit in Phase II; and construction of public improvements in Phase III shall be completed within ninety (90) calendar days of ---PAGE BREAK--- . . . 388909 issuance of the first building permit in Phase III. IV. PUBLIC IMPROVEMENT AND GRADING: The DEVELOPERS hereby agree to install, at their expense, in and to the Partial Replat of Hatley Addition all curbs, sidewalks, street, sanitary sewer, storm sewer, house drains, water lines, street lights, traffic signals, improvements to State Highway 8, and all related appurtenances, all necessary street and lot grading in accordance with the approved plans and to City standards during and under the terms of this agreement. All plans and drawings shall be approved by the City Engineer prior to beginning of any construction or improvements. V. CITY COVENANT: CITY shall issue building permits in accordance with the following: A. Building permits will be issued for Phase I of the Partial Replat of Hatley Addition after all public improvements and lot grading have been constructed in Phase I of this subdivision, or after adequate security has been provided to ensure proper construction of the public improvements in Phase I. B. Building permits will be issued for Phase II of the Partial Replat of Hatley Addition after all public improvements and lot grading have been constructed in Phase II of this subdivision, or after adequate security has been provided to ensure proper construction of the public improvements in Phase II. c. Building permits will be issued for Phase III of the Partial Replat of Hatley Addition. after all public improvements and lot grading have been constructed in Phase III of this subdivision, or after adequate security has been provided to ensure proper construction of the public improvements in Phase III. VI. DEVELOPERS COVENANT: The DEVELOPERS agree as follows: A. Phase I. 1. DEVELOPERS shall construct War Bonnet Drive from Idaho State Highway 8 (Pullman Road) to the north right-of-way of Street and Hatley Way from the west terminus of the curb radii on the DEVELOPMENT AGREEMENT; Page 2 ---PAGE BREAK--- 388909 west side of War Bonnet Drive to the existing road located south of the u Haul site (Lot 1, Block 1, Hatley Addition) to City standards. 2. DEVELOPERS agree to install all traffic signal devices at the intersections of War Bonnet Drive and Idaho state Highway 8 and traffic signal devices at Hatley Way and War Bonnet Drive. Initiation of operation will be at City Engineer's andjor State of Idaho Transportation Department's determination the operation is warranted. The design will be subject to approval from both agencies. 3. DEVELOPERS agree to install and maintain landscaping along the south and west boundaries of Lot 1, Block 1 in accordance with the approved landscaping plan. Attached and incorporated hereto as Appendix is said landscaping plan. This landscaping is in addition to parking lot landscaping and buffer yard landscaping required by the Moscow Zoning Ordinance. 4. DEVELOPERS agree to widen state Highway 8 in the vicinity of War Bonnet Road or to perform any other highway mitigation the Idaho Department of Transportation should require. 5. DEVELOPERS agree that prior to the issuance of permits to construct any building above the foundation, the water system, including required fire hydrants, shall be installed and shall be functional, and all portions of buildings under construction shall be within one hundred fifty feet (150') of an all weather road at least twenty feet in width designed and maintained to support the imposed weight of fire apparatus. Certificates of occupancy shall not be issued for any structure until all public improvements have been completed for the phase of development in which the structure is located. B. Phase II 1. DEVELOPERS agree to construct Hatley Way from War Bonnet Drive to the Appaloosa DEVELOPMENT AGREEMENT; Page 3 ---PAGE BREAK--- 388909 Horse Club property (Lot 1, Block 4, Hatley Addition) to City standards. 2. DEVELOPERS agree to complete all grading required for Street and shall be responsible for one-half (1/2) the costs of constructing Street, including utilities, to City standards from the west boundary to the east boundary of the Partial Replat of Hatley Addition. C. Phase III 1. DEVELOPERS agree to construct War Bonnet Drive, including utilities, from Street to the north boundary of the Partial Replat of Hatley Addition to city standards. 2. DEVELOPERS shall be responsible for one half (1/2) the costs of constructing Street, including utilities, to City standards from the west boundary to the east boundary of the Partial Replat of Hatley Addition. 3. Prior to the issuance of building permits in Phase III, DEVELOPERS shall be responsible for the payment of a fee in lieu of parkland dedication equivalent to nine percent of the value of the net developable area of land within Phase III, in accordance with provisions of Moscow city Code Section 5-1-SF. The value of land shall be established at the time of application for the first building permit in Phase III. D. DEVELOPERS agree to participate in a Local Improvement District for the construction of Street and utilities if, at the city's discretion, construction of said street prior to the development of Phase II and Phase III is desired by the city. E. If the DEVELOPERS fail to complete all public improvements in the phase for which the security is provided within two hundred seventy (270) calendar days for Phase I and ninety (90) calendar days for Phases II and II respectively, of issuance of the first building permit, the parties agree that building permits will cease to be issued DEVELOPMENT AGREEMENT; Page 4 ---PAGE BREAK--- 388909 until the improvements are complete, and the CITY may utilize the security specified in paragraph VIII to complete work on improvements. VII. TERM: This agreement shall remain in effect until all improvements are constructed and accepted by the CITY in the Partial Replat of Hatley Addition to Moscow and in no event shall the time period to construct these improvements exceed ten (10) years, unless said time period is extended by the CITY. VIII. SECURITY FOR IMPROVEMENTS: The CITY agrees that upon receipt of the security described in paragraph IX it will issue building permits (upon payment of permit fees) for properties affected during each phase of the development. If the DEVELOPER fails to complete construction of all of the improvements of the applicable phase of development within the period of time after issuance of the first building permit specified in Paragraph III, 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 born by the Developers. Any additional construction services needed shall be let by bid, and subject to the laws of the state of Idaho relative the letting of said bids. IX. FORM OF SECURITY: The DEVELOPERS agree to provide security in the amount of $977, 080. 00 for Phase I. The security for Phase II and III will be provided by the DEVELOPERS at the time those phases are initiated. The amount of the security will be determined by the City Engineer. The securities 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 by the City Attorney and the City Council prior to the issuance of building permits by the CITY. The security must be effective for a minimum period of twenty-four {24 ) months for Phase I, and eighteen (18) months for Phase II and Phase III. If this security is in the form of a 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 not completed at that time, the CITY may claim the security and utilize it to complete the improvements. The amount of the security may, from time to time, be modified as deemed appropriate by the city Engineer as DEVELOPMENT AGREEMENT; Page 5 ---PAGE BREAK--- X. 388909 conditions warrant. If the amount of security is to be increased, the CITY shall notify the DEVELOPERS in writing, stating specifically the basis for said alteration, and the DEVELOPERS shall be given a reasonable opportunity to satisfy the CITY's concerns. COVENANTS TO RUN WITH LAND: run with the land, as shall herein contained, and shall the CITY and its successors This agreement shall also the covenants be to the benefit of and assigns. XI. MODIFICATION: DEVELOPERS and CITY agree that provisions of this agreement may be modified only upon written request of the DEVELOPER accompanied by a complete set of development plans, and acceptance of said modification by the Moscow city Council. XII. AS-BUILT DRAWINGS: The DEVELOPERS agree to furnish, prior to acceptance of the improvements by the CITY, one set of accurate, complete, reproducible as-built drawings for all of the water, storm sewer, sanitary sewer, curb, house drains, sidewalk, and street improvements constructed in each phase of the subdivision. XIII. FAILURE TO COMPLY: If the DEVELOPERS fail to comply with the terms of this agreement, the CITY, after thirty (30) days written notice, may seek specific performance of the agreement and may attach the security to complete the improvements. The DEVELOPERS agree to pay all expenses incurred by the CITY in enforcing the agreement. XIV. FORCE MAJEURE: Performance of this agreement may be suspended by either party in case of acts of God, or any cause beyond the control of such party, preventing the performance of said contract. XV. BINDING ON HEIRS, ASSIGNEES, AND PURCHASERS: This agreement shall be binding upon the heirs, assignees, and purchasers of the properties. XVI. VENUE AND ATTORNEY'S 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 State of Idaho in and for the County of Latah. The prevailing party in such action shall award its reasonable costs and attorney's fees. DEVELOPMENT AGREEMENT; Page 6 ---PAGE BREAK--- l . 388909 XVII. NOTICES: Any notice required by this agreement shall be deemed served when delivered by and or by certified or registered mail to the other party at the following address: Developers: George B. Hatley and Iola Hatley Berneda Grace Hatley Hamilton and Charles Hamilton Veletta Rae Hatley Frink and o. Eugene Frink City: City of Moscow P. O. Box 9203 Moscow, ID 83843 IN WITNESS WHEREAS, the parties have executed this agreement to be effective the date first above written. DEVELOPERS: LJo.$ϒ/p -tl.J f/{P/yyU0 Berneda Grace Hatley /.on C1idf;1' Charles Hamilton CITY OF MOSCOW: Pres. ATTEST: Elaine RusE;ll, city Clerk DEVELOPMENT AGREEMENT; Page 7 ---PAGE BREAK--- 388909 STATE OF ϓϔ4ϕ«ϖ----- ss CouÏty of Lent/ Ò· . J. L'1 UVW P /ϐ - . . ' :2 , · on this day of , 199.1., before me a Notary ·Public·. ip and for said State, appeared George B. Hatley and lola HatJ.ey, known to me to be the persons named above and , acknowlÐged to me that they executed the foregoing agreementÑ· . : ' ' . ' . ' l' . ST.A"rE OF . " 'f courit'y Ò-of Nor State of -L1a4b(¢---- ·on thi7s 4tL day of 2Lllu 1991, before me a Notary .Pub.;J!lc in and for said state, appeared Berneda Grace Hatley ;Hain.i-lton and Charles Hamilton, known to me to be the persons namÓd above and acknowledged to me that they executed the ' foregoing agreement. DEVELOPMENT AGREEMENT; Page 8 ---PAGE BREAK--- . . . O, · . . , . , 388909 STATE OF ss County of On this r.N day of , 199i, before me a Notary Ôublic in and for said State, appeared Veletta Rae Hatley FririÕ:and 0. Eugene Frink, known to me to be the persons named.Öbpve and acknowledged to me that they executed the f·oregoini;J agreement. I : ' . STATE OF > _y /1 i ) ss County of × ) NotCblior State of /.Oe?YϏ on this 3c:J Vl day of , 199n, before me a Notary Public in and for sa±Ø appeared Gary Tragesser and Elaine Russell, known to me to be the Council President and city Clerk of the City of Moscow and acknowledged to me that they executed the foregoing agreement. d! Notary PubÙic_ il). and for State of Ú Ï· # . . ' DEVELOPMENT AGREEMENT; Page 9 ---PAGE BREAK--- Lot 1, Block 3 281,683 s.f. Lot 1, Block 2 358,481 s.f. Appaloosa Horse Club -J.<:fl,Rt,S¢T· Î > Q 0 Q 759. ---PAGE BREAK--- Nat1ons.tSai1K or ueorgta, N.A . P.O. BOX 4899, ATLAA"TA, GEORGIA 30302-4899 CABLE ADDRESS: r- TELEX NO. 37378!'!' ) SWIIT NO. CSBKU". Nations Bankk AMENDMENT DATE: 12FEB93 ISSUED BY: NATIONSBANK OF TENNESSEE, N.A. L/C NO. : SA79458092 AMENDMENT NO. : 01 APPLICANT WAL-MART STORES, INC. 702 SOUTHWEST BTH STREET BENTONVILLE, AR 72715 Page 1 of 1 BENEFICIARY CITY OF MOSCOW THIS AMENDMENT IS TO BE CONSIDERED AS PART OF THE ABOVE MENTIONED 122 EAST FOURTH STREET MOSCOW, ID. 83843 ATTN: DEAN C. WEYEN, ASST. CITY ENGINEER THE LETTER OF CREDIT DESCRIBED ABOVE HAS BEEN AMENDED AS SHOWN BELOW. THIS LETTER OF CREDIT IS DECREASED BYi$957,080.00 TO A NEW LETTER OF CREDIT TOTAL OF $10,000.00. ALL OTHER TERMS AND CONDITIONS OF THE CREDIT REMAIN THE SAME. ri WAL-MAjT 9 28 93. OCUJ ORIGINAL l . l l l . - ---PAGE BREAK--- Nations Bank of Georgia, N.A. P.O. BOX 4899, ATLANTA. GEORGIA 30302-4899 CABLE ADDRESS: CF JTH TELEX NO. 3737850 I SWIITNO. CSBKUS 3 Nations Bankl NO ODIN!ήί OF LEGPL COUNSEL SHAΖL BE RΗQU!ΘED. εEREDF1 ΡLESS ΈΉ NOTIFY IN WPITING BY FνG!STERED ΓΔ!Ε1 PCSTq?KED Ti-JIRTY I'P.Y3 DRIOR TO AlY ::UCH Tf-!:Yf :,Ώΐ ELECT η1CT TC θ T!--ii'3 LETTER CΑ CREDIT. THE FORESO!;μG ϋ!OTόJ:TύST;;f!!:t_ώ1ART STORES, INC, 702 SOUTHWEST 8TΊ STEET BENTONVILLE, AR 7271E AMO!JNT usn ***·**9771080.0e N IͬJE HuNI:1RE!: Pi\!D SE')S>!TY 5=:•JEͼl TͰDͱSCND PND EIGHTY A,D /SD :-:EREBY ESTABLISH. OUR IRREVOCABLE LETTER OF CREDIT IN YOUR FA'/OR, .CP.f.:FT > TC BE t:ARl DETAILED HEREIN. on JnJl r1tnrned \o WAL· MART 9-ZB-93. oov- DOCUMENTS RG1U I RED: 1. A STATEMENT PURPORTEDLY SIGNED BY AN AUTHORIZED OFFICIͲL OF TΌE C!TY OF äOSCOW1 SWORN TO BEFORE A NOTARY PUPLIC STAT!N2 THAå: "TrE FUrJI'oS DRP.WN UNDER LETTER CF CREDIT NO. SP.7'3:t58092 ISSCE:J EY OF TENNESSEE ARE DUE BY REASON OF WAL-MART0s FP!LURE 7C COMPLETE THE ON-SITE ͫND OFF-S!TE IMPROVETENTS FOR TUE WAL-ͳnR7 3ʹ͵=E IͶi fri!JSCOW, IDwHO AS SHOWN 00 THE PLm1s PREPARED f·Y CEI 9it::'!EE?Ixys ASSQC :æTES, INC Aç:!Y SUBSEQUENTLY f:'t1PRC'v'ED 92:' THE C: TY C? WORK WAL-MART FAILED TO COMPLETE !S AS FOLLOW1: