HomeMy WebLinkAboutMeridian Auto Mall Warranty Surety Agreement Kendall Auto Group Cope SubdivisionADA COUNTY RECORDER Christopher D. Rich 2015-028396
BOISE IDAHO Pgs=4 BONNIE 041081201510:35AM
MERIDIAN CITY - NO FEE
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City of Meridian
WARRANTY SURETY AGREEMENT
THIS WARRANTY SURETY AGREEMENT is made and entered into this —day of
/U &&eA 2011lrby and between the CITY OF MERIDIAN, a Municipal Corporation,
hereinafter referred to as CITY, and MERIDIAN AUTO MALL, LLC, hereinafter referred to as
DEVELOPER.
WITNESSETH:
WHEREAS, DEVELOPER received approval from the CITY on March 17, 2012, of the
construction plans ("Construction Plans"), for the development known as Kendall Auto Group
("Cope Subdivision") located in the City of Meridian, which Construction Plans include
improvements for public life, safety and health ("Required Public Improvements") referred
herein as "Improvements'; and
WHEREAS, DEVELOPER has posted performance surety with CITY to guarantee the
completion of the Improvements; and,
WHEREAS, DEVELOPER has completed the installation of the Improvements; and
WHEREAS, the Unified Development Code of the City of Meridian Section 11-5C-3 requires
that the DEVELOPER execute and file with the CITY an agreement providing for, among other
things, a warranty surety in the amount of twenty percent of the cost of improvements for a
period of two years; and
WHEREAS, the CITY is agreeable to acceptance of the improvements and release of the
performance surety 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 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.
2. Upon execution of this Agreement, 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:
WARRANTY SURETY AGREEMENT — COPE SUBDIVISION — Page 1
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.
B. The DEVELOPER shall submit to the CITY a Warranty Surety in a form
approved by the CITY in the amount of $12,600.00 to provide for 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 final costs 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.
3. The CITY agrees to accept the Required Public Improvements and release the
performance surety upon certification by the City Engineer 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.
4. 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.
WARRANTY SURETY AGREEMENT — COPE SUBDIVISION — Page 2
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
MERIDIAN AUTO MALL, LLC:
N 11
On this �3t day of D'`a�Ck'- 2015 , before me, the undersigned, a Notary
Public in and for the State of Idaho, personally appeared —1 n ri Kw 15 lo- C {' , known or
identified to me to be the C 'F 0 of MERIDIAN AUTO MALL, LLC, 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
e
VERONIKA PALOVA
Notary Public for Idaho
5
Notary Public
My commission Expires:
State of Idaho
WARRANTY SURETY AGREEMENT- COPE SUBDIVISION -Page 3
STATE OF IDAHO
ss.
County of Ada
CITY OF MERIDIAN:
By: oi
'�llvL�l�
Tammy J e �i"
ayor
On this day of 2015:,' 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 hand and affixed my official seal the day and
year first above written.
SEAL
Notary Public for Idaho
My commission Expires: CJ
WARRANTY SURETY AGREEMENT — COPE SUBDIVISION — Page 4