HomeMy WebLinkAboutMeridian Auto Ranch Addendum No. 1 For First Time ExtensionADA COUNTY RECORDER Christopher D. Rich 2016-021938
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MERIDIAN CITY NO FEE
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ADDENDUM NO. 1 FOR FIRST TIME EXTENSION
City of Meridian
DEVELOPMENT SURETY AGREEMENT
Meridian Auto Ranch
THIS ADDENDUM TO THE DEVELOPMENT SURETY AGREEMENT is made and entered
into this ? day of�M A ac if , 2016 by and between the CITY OF MERIDIAN, a
Municipal Corporation, hereinafter referred to as CITY, and LB Industries, Inc., hereinafter
referred to as APPLICANT.
WITNESSETH:
WHEREAS, APPLICANT received approval from the CITY on March 31, 2015, for the
development known as Meridian Auto Ranch ("Development") located in the City of Meridian,
which Site Plans include improvements for non -life, non -safety and non -health improvements
("Required Development Improvements") (The Required Development Improvements may be
referred herein as "Improvements"); and
WHEREAS, on the 12th day of August, 2015, APPLICANT and CITY entered into a
DEVELOPMENT SURETY AGREEMENT whereby the Required Improvements were to be
completed on or before February 29, 2016; and,
WHEREAS the DEVELOPMENT SURETY AGREEMENT allows APPLICANT to request an
extension of up to 180 days to complete the improvements; and,
WHEREAS, APPLICANT has submitted to CITY a written request for a time extension to
complete the Improvements.
NOW, THEREFORE, in consideration of foregoing mutual promises, covenants and agreements
of the parties, it is hereby agreed as follows:
Section 2 of the DEVELOPMENT SURETY AGREEMENT shall be amended to
reflect a revised completion date of August 26, 2016.
All other terms of the DEVELOPMENT SURETY AGREEMENT shall remain the same.
SIGNATURES TO FOLLOW IN NEXT PAGE
ADDENDUM NO. 1 TO DEVELOPMENT SURETY AGREEMENT — Meridian Auto Ranch — Page 1
IN WITNESS WHEREOF, the parties shall cause this First Addendum to the 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 )
On this j day of f 'A1L'-(E 20_, before me, the undersigned, a Notary Public in and for the State
of Idaho, personally appeared Jon Barnes, known or identified to me to be the President of LB Industries, 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 go*
Notary blic for Idaho
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CITY OF MERIDIAN:
B
Tammy eerd, Mayor
STATE OF IDAHO )
ss.
County of Ada �` )
On this '7" day of ` ,L -- 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 hand and affixed my official seal the day and year fust above
written. ♦•.0066.a** -
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ADDENDUM 1 TO DEVELOPMENT SURETY AGREEMENT — Meridian Auto Ranch — Page 2