HomeMy WebLinkAboutReflection Ridge # 3C�/WER,IDIAKr,
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❑ Warranty
1 DEC O 2 2o%
BY:
Community Development Department
Surety Application
Project Information. t� e
Project name: Q -yl' t r3" I _il3Z
Location/streetaddress: <,;V+ 0'yvuzr7-t Ls
Parcel number: ! 4'7-8-Z-
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Owner/Developer Information ^
Owner/Developername: 1.1S�S�tOJ� C4 D -S4_ `rte' •2�QLP YLC., Phone-
Owner/Developer address:,lL��i�1t�'l Zip: l �'F'j" 1 �!
Contact e-mail: & O Y r\y-• "�1 ' ��Q 0!2NJ a d �_ jy72 � e g Fax:
Applicant Information
Applicant:— Phone:
Applicant address: Zip:
Primary contact isrj�Property Owner ❑ Applicant ❑ Other
Contact e-mail: Fax:
Authorization y�
Printed name: Lal-Y)R- JCk ^t'�
Signature: Date: 17.-2- i q
STAFF USE ONLY:
Application#
t
Expiration Date:
Staff approval: Date:
Community Development ■ 33 E. Broadway Avenue, Ste. 102 Meridian, Idaho 83642
Phone: 208-884-5533 Fax: 208-888-6854 www.meridiancitv.ore
(11-24-2014)
L,/�E IDIAN
Community Development Department
SURETY CHECKLIST
Project name:.E?^� cr� t GQpp File #:
Owner/Developer name: ! �' ` ��� t o*� ,r^�.�e�fi (� l v-�-C—
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All applications are required to contain one copy of the following unless otherwise noted:
Applicant
0
Description — Required Deliverable
Staff
✓
Completed and signed Surety Application
Itemized Contractor Bids for Surety Items r GZ�f�_ St,l,�rj
Cv,
/
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Submit a copy of the. Articles of Incorporation from the Secretary of State
www.sos.idaho.sov
-
Application Fee: �" "J
THIS APPLICATION SHALL NOT BE CONSIDERED COMPLETE UNTIL STAFF HAS RECEIVED ALL
REQUIRED INFORMATION. ONCE APPLICATION IS DEEMED COMPLETE, STAFF WILL CALCULATE
REQUIRED SURETY AMOUNTS, AND PREPARE ANY REQUIRED AGREEMENT'S FOR APPLICATION
D(° F orn mfftt ,�-ichol-tz
Community Development ■ Planning Division ■ 33 E. Broadway Avenue, Ste. 102 Meridian, Idaho 83642
Phone: 208-884-5533 Fax: 208-888-6854 www.meridiancitv.ore
(Rev. ]0108/12)
-9Z
City of Meridian
DEVELOPMENT SURETY AGREEMENT
THIS DEVELOPMENT SURETY AGREEMENT is made and entered into this _day of
,20 by and between the CITY OF MERIDIAN, a Municipal Corporation,
hereinafter referred to as CITY, and MISSION COAST PROPERTIES ID., INC., hereinafter
referred to as DEVELOPER.
WITNESSETH:
WHEREAS, DEVELOPER received approval from the CITY on October 28, 2014, of the
construction plans ("Construction Plans"), for the development known as Reflection Ridge
Subdivision No. 3 ("Subdivision Plat") located in the City of Meridian, which Construction
Plans include improvements for public life, safety and health ("Required Public Improvements")
and improvements for non -life, non -safety and non -health improvements ("Required
Development Improvements") (The Required Public Improvements and Required Development
Improvements may be collectively referred herein as "Improvements"); and
WHEREAS, DEVELOPER has petitioned the CITY to accept the Subdivision Plat and execute
the final plat prior to the installation of the improvements; and
WHEREAS, the Unified Development Code of the City of Meridian, Section 11-5C-1 through
11-5C-4 and applicable ordinances and laws of the CITY require that the DEVELOPER execute
and file with the CITY an agreement providing for, among other things, the period within which
all required improvements shall be made within said Subdivision and that if the Improvements
are not completed within the period specified, the CITY may complete the same and recover the
full cost and expense thereof from the DEVELOPER; and
WHEREAS, the CITY is agreeable to acceptance and filing of said Subdivision Plat upon the
execution of this Agreement and compliance by the DEVELOPER with the provisions of the
Unified Development Code of the City of Meridian.
NOW, THEREFORE, in consideration of foregoing mutual promises, covenants and agreements
of the parties, it is hereby agreed as follows:
1. The DEVELOPER agrees to install all of the Required Public Improvements and bind
themselves to use such materials and to so construct all of the Improvements in
compliance with Construction Plans and all applicable City ordinances and State Codes
and in a manner acceptable to the CITY (hereinafter "City's Requirements".
2. The DEVELOPER agrees to restore at no cost to the CITY any monument erected or
used as a survey marker or boundary of any tract, plat or parcel of land which monument
DEVELOPMENT SURETY AGREEMENT — REFLECTION RIDGE SUBDIVISION NO.3 — Page 1
is broken down, damaged, obliterated, removed or destroyed, whether willfully or not, by
the DEVELOPER, or the agents, employees or contractors of the DEVELOPER.
3. The DEVELOPER agrees that all said Improvements shall be completed on or before
October 28, 2015, and that the DEVELOPER will correct, repair and maintain all such
Required Public Improvements from any defects, omissions or irregularities in the
construction, materials or work thereof for a period of two (2) calendar years from the
date of written acceptance of such Improvements. The DEVELOPER agrees that if they
abandon the Improvements, fail to make satisfactory progress on the Improvements, or
fail to complete the Improvements by the date specified, the CITY may cause the
Improvements to be completed by another person under contract, by its own forces, or
both and that DEVELOPER hereby grants a License for such purposes. The
DEVELOPER shall be jointly and severably liable to the CITY for any and all loss and
damage from such abandonment or failure, either from the greater expense of so
completing or repairing faulty or damaged Improvements, or from any other cause related
to DEVELOPERS failure to complete the Improvements, which expense shall not be
limited by any surety.
4. Upon execution of this Agreement, the DEVELOPER shall deliver to CITY a
performance surety (Irrevocable Letter of Credit, Corporate Surety Bond or Cash
Deposit) ("Performance Surety") for the purpose of assuring DEVELOPER'S full and
faithful completion of the required Improvements as shown on the Construction Plans.
The amount of the Performance Surety for the Improvements shall be the sum of
$843,414.81 as set forth on Exhibit "A" attached hereto and incorporated herein. The
amount of such Performance Surety is based upon 125% of an itemized contractor's bid
for the completion the Required Public Improvements, and 110% of all other Required
Development Improvements. CITY'S acceptance of such assurance shall not be
construed as a limitation on the amount which may be spent on completion of the
Improvements.
5. At such time as all Required Public Improvements have been completed in accordance
with the CITY'S requirements, the DEVELOPER shall notify the CITY of the readiness
for final inspection. Upon certification by the City Engineer that all requirements of the
CITY have been met and CITY formally accepts such Improvements in writing, the
following shall occur:
A. The DEVELOPER shall submit a written request to the CITY to release the
Performance Surety, including:
i. A statement from the DEVELOPER that the required Improvements are
complete and have been constructed in accordance with the City's
Requirements , and
ii. Two (2) hard copy sets, and one electronic copy of as -built plans.
B. The DEVELOPER shall submit to the CITY a Warranty Surety in a form
approved by the CITY in the estimated sum of $63,811.36 to provide for
DEVELOPMENT SURETY AGREEMENT — REFLECTION RIDGE SUBDIVISION NO.3 — Page 2
correction of any defective materials or workmanship in such Required Public
Improvements for a period of two (2) years after final acceptance, as defined in
the City Public Works Construction Code. The amount of such surety assurances
is based upon 20% of the contractor's itemized bid for the completion of the
Required Public Improvements. At the expiration of the two year period,
DEVELOPER shall submit a written request to the CITY to release the Warranty
Surety, along with a statement from the DEVELOPER that the Required Public
Improvements continue to meet City's Requirements at the end of the two year
warranty period. After receiving such request the CITY shall conduct an
inspection of the Required Public Improvements to determine if any defects are
present. If there are no defects, CITY shall release/return the Warranty Surety to
DEVELOPER.
6. The CITY agrees to accept the Required Public Improvements upon certification by the
City Engineer
A. That all Required Public Improvements have been constructed in accordance with
the City's Requirements.
Such certification is not intended to relieve DEVELOPER or any contractor or
material supplier of their responsibility for any defects in materials or workmanship
of such Improvements.
7. In construing this Agreement, it is understood that either party may be more than one
person and if the context so requires, the singular pronoun shall be taken to mean and
include the plural, the masculine, and neuter, and that generally all grammatical changes
shall be made, assumed and implied to make the provisions hereof apply equally to a
single or several individuals.
DEVELOPMENT SURETY AGREEMENT — REFLECTION RIDGE SUBDIVISION NO.3 — Page 3
IN WITNESS WHEREOF, the parties shall cause this Development Surety Agreement to be
executed by their duly authorized officers the day and year first above written.
STATE OF IDAHO
ss.
County of Ada
MISSION COAST PROPERTIES ID., INC.:
M
Lome Duthie, Director
On this day of 20, before me, the undersigned, a Notary
Public in and for the State of Idaho, personally appeared Lorne Duthie, Director, known or identified to
me to be the Director of MISSION COAST PROPERTIES ID., INC., who executed this instrument on
behalf of said Corporation, and acknowledged to me that such Corporation executed the same.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and
year first above written.
SEAL
Notary Public for Idaho
My commission Expire;
DEVELOPMENT SURETY AGREEMENT — REFLECTION RIDGE SUBDIVISION NO.3 — Page 4
STATE OF IDAHO
ss.
County of Ada
[yrr�z��:�ii��
La
Tammy de Weerd, Mayor
On this day of 20, before me, the undersigned, a Notary
Public in and for the State of Idaho, personally appeared Tammy de Weerd, known or identified to me to
be the Mayor of the City of Meridian, Idaho and who subscribed her name to the within instrument and
acknowledged to me that the City of Meridian executed the same.
IN WITNESS WHEREOF, I have hereunto set my band and affixed my official seal the day and
year fust above written.
SEAL
Notary Public for Idaho
My commission Expire;
DEVELOPMENT SURETY AGREEMENT- REFLECTION RIDGE SUBDIVISION NO.3 - Page 5
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10
FILED EFFECTIVE
1I3t';'2G PrI2.26
AMENDED AND .RESTATED ARTICLES OF INCORPORA7� , .- :.
OF 3)'A HE 0 i; "',!
MISSION COAST PROPERTIES ID INC.
Pursuant to Idaho Code Sections 30-1-1007 and 30-1-1006 of the Idaho Business
Corporation Act, the undersigned corporation adopts the following Amended and Restated Articles
of Incorporation as follows:
L
The name of this corporation is Mission Coast Properties ID Inc.
II.
The period of existence and duration of the life of this corporation shall be perpetual.
The registered office ofthe corporation is 141 East Carlton Avenue, Meridian, Idaho 83642
and its registered agent at that address is Victor Villegas.
IV.
The purposes for which this corporation is organized are as follows: to engage in the
transaction of any or all lawful business for which corporations may be incorporated under the Idaho
Business Corporation Act.
V.
(a) The aggregate number of capital stock that the corporation is authorized to issue shall Wren
Thousand Two Hundred (10,200), and the designation ofeach class of shares, quantities and the par
value of each class are as follows:
Designatio Quantit Paz
Class A Voting Common
Non -Participating Stock 100 $1.00
Class B Non -Voting Common
Participating Stock 100 $1.00
Class C Preferred Stock
10.000 $50.00
AMENDED AND RESTATED ARTICLES OFINCORPORA'TION - I IDAHO SECRETARY OF STATE
05/24/2813 05:69
CK. U9 CT. 264523 IMs 1375332
1 0 38.01 = 38.58 AMEND PROF 1 2
�' 1 9c,a79
(b) The following provisions shall apply to the corporation's classes of shares:
(1) Class A: The holders of Class A Voting Common Non -Participating Stock shall
have unlimited voting rights and entitle the record holder to one vote per share at all regular or
special shareholders' meetings of the corporation or any other matter submitted to a vote ofthe
shareholders ofthe corporation. Provided, however, Class A Voting Common Non -Participating
Stock shall not be entitled to vote on any amendment to these articles of incorporation or any
certificate of designation to change or affect any issued and outstanding shares of Class C
Preferred Stock.
Provided, further, that Class A Voting Common Non -Participating Stock shall not receive
nor be entitled to any dividends or distributions of the corporation.
The corporation shall have no redemption rights to acquire outstanding shares of Class A
Voting Common Non -Participating Stock.
(2) Class B: The holders of Class B Non -Voting Common Participating Stock shall have
no voting rights whatsoever. Subject to the rights of holders of any outstanding Class C Preferred
Stock, the holders of Class B Stock shall be entitled to share ratably in the dividends or other
distributions (other than purchases, redemptions, or other acquisitions of shares by the
corporation) as declared and at the dissection of the board of directors.
In the event of any liquidation, dissolution, or winding up ofthe corporation, after
payment has been made to the holders of any outstanding shares of Class C Preferred Stock, the
holders of Class B Non -Voting Common Participating Stock shall be entitled to receive all the
assets of the corporation available for distribution in proportion to the number of shares held by
them.
The corporation shall have no redemption rights to acquire outstanding shares of Class B
Non -Voting Common Participating Stock.
(3) Class C: The holders of Class C Preferred Stock shall be entitled to receive, and
shall have preference over Class B Stock, cumulative preferential dividends, as declared by the
board of directors, at six percent (61/o) annually upon the par value of their respective share and
not more.
Holders of Class C Preferred Stock have no voting rights whatsoever nor shall Class C
Preferred Stock be convertible to another class of common stock. Class C Preferred Stock is
subject to redemption by the corporation at a purchase price of Fifty Dollars ($50.00) per share.
(c) No shareholder shall have any preemptive rights to obtain or acquire any unissued shares of
the corporation.
AM XDED AND RESTATED ARTICLES OF INCORPORATION - 2
VL
All corporate powers shall be exercised by or under the authority of, and the business and
affairs of the corporation managed under the direction of its board of directors, subject to any
limitation set forth in a shareholder agreement authorized under section 30-1-732, Idaho Code. The
number ofdirectors constituting the initial board of directors shall be one (1) director, but during their
term ofoffice, or thereafter, the number ofdirectors may be increased or decreased from time to time
as may be provided in the Bylaws; provided, however, that the number of directors constituting a
board shall not be less than one (1) nor more than five (5).
The following persons are named directors ofthis corporation to serve until their successors
are elected and qualified:
NAME ADDRESS
Lome Duthie 13402 - 13A Avenue, Surrey, BC WA 1 C3
VII.
The name and post office address of the incorporator is as follows -
Lome Duthie 13402 - 13A Avenue, Surrey, BC WA I C3
VIII.
All or any meetings of the shareholders, or of the board of directors may be held within or
without the state of Idaho.
f -M
The corporation shall indemnify the directors and officers of the corporation to the fullest
extent permitted by the Idaho Business Corporation Act, as the same exists or may hereafter be
amended (but, in the case ofany such amendment, only to the extent that such amendment permits the
:corporation to provide broader indemnification rights than the Idaho Business Corporation Act
permitted the corporation to provide prior to such amendment).
X.
To the fullest extent permitted by the Idaho Business Corporation Act, as it now exists or may
,hereafter be amended, a director of this corporation shall not be liable to the corporation or its
stockholders for monetary damages for breach of fiduciary duty as a director, except to the extent
that such exemption from liability or limitation thereof is not permitted under the Idaho Business
Corporation Act as the same exists or may hereafter be amended. Any repeal or modification ofthis
paragraph by the stockholders of the corporation shall be prospective only and shall not adversely
AA&NDED AND RESTATED ARTICLES OFINCORPORATION - 3
t any limitation on the personal liability of a director of the corporation existing at the time of
repeal or modification.
Xl.
The power to repeal and amend the bylaws and adopt new bylaws is hereby conferred upon
the directors, as well as upon the shareholders who hold Class A Voting Common Non -Participating
Stock, to be exercised by such vote of said directors, or ofthe allotted shares, as the case may be, not
Less, however, than a majority thereof; as may be fixed by the bylaws.
Special meetings of shareholders of the Corporation may be called by: (i) Class A Voting
CommonNon-Participating Stock shareholders holding at least thirty-three and one-third percent (33
1/3%) of all votes entitled to be cast on any issue to be considered, (a) the board ofdirectors, or (iii)
such other person or persons authorized in the Bylaws to do so.
The foregoing Amended and Restated Articles of Incorporation were duly adopted on May
2013.
Shareholder approval was not necessary because none ofthe corporation's shares have been
and therefore the Amended and Restated Articles of Incorporation were duly adopted by the
of directors/incorporator.
DATED this 24th day of May 2013.
Lome Duthie, Director/Incorporator
!�(1Victor Villegas, a istered Agent
.AND RESTATED ARTICLES OF INCORPORATION - 4