Z - Bountiful Commons Subdivision Payment in Lieu of Agreement Installing StreetlightsAGREEMENT TO ACCEPT PAYMENT IN LIEU OF INSTALLING STREETLIGHT .
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BOUNTIFUL COMMONS SUBDIVISION
r� hol 3a►'� QQi 2-019
THIS AGREEMENT for streetlight installation, made this day of- Dec:embeF,-2e±&between the
City of Meridian, a municipal corporation organized under the laws of the State of Idaho, whose
address is 33 East Broadway Avenue, Meridian, Idaho (hereinafter "City"), and TMEG Properties,
LLC, 74 East 500 South, Suite 200, Bountiful, UT 84010 (hereinafter "TMEG").
WHEREAS, TMEG has received from City, conditional approval of the Final Plat for the
Bountiful Commons Subdivision, Case No. FP H-2018-0084; and,
WHEREAS, One of the Site Specific Conditions of Approval of City's approval of FP H-2018-
0084 is to install street lights on all public roadways per the City of Meridian Improvement
Standards for Street Lighting; and,
WHEREAS, TMEG is currently unable to install the required streetlights on N. Linder Road in
front of the Bountiful Commons Subdivision because N. Linder Road has not been built out to its
ultimate width; and,
WHEREAS, once the N. Linder Road is widened, City is willing to install the required
streetlights if TMEG has paid to City the estimated amount necessary to install the streetlight.
NOW THEREFORE, THE PARTIES AGREE AS FOLLOWS:
1. TMEG shall pay to City the amount of $18,950.00 as the amount necessary to supply and
install three (3) type 1 streetlights.
2. City agrees to accept the amount set forth in Article 1 in lieu of requiring TMEG to install the
three (3) streetlights on N. Linder Road in front of the Subdivision.
3. Upon payment of the amount in Article 1 by TMEG to City, TMEG's requirement to install
the three (3) streetlights on N. Linder Road shall be considered satisfied.
4. This Agreement shall be binding upon and inure to the benefit of the parties hereto and
their heirs, successors and assigns, and shall survive any transfer by TMEG of TMEG's
Property,
IN WITNESS WHEREOF, the parties shall cause this Agreement to be executed by their duly
authorized officers the day and year first above written.
TMEG Properties, LLC.
By: 1
Trevor Gassor, R gistered Agent
CITY OF MERIDIAN
B ZydTame erd Mayor
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