HomeMy WebLinkAboutTree Farm Subdivision No. 2ADA COUNTY RECORDER Christopher D. Rich 2018-075061
BOISE IDAHO Pgs=5 BONNIE OBERBILLIG 08/09/2018 09:37 AM
CITY OF MERIDIAN, IDAHO NO FEE
City of Meridian
WARRANTY SURETY AGREEMENT
Tree Farm Subdivision No. 2
TH WARRANTY SURETY AGREEMENT is made and entered into this 1747
day of
. , 20 JY by and between the CITY OF MERIDIAN, a Municipal Corporation,
herein ter referred to as CITY, and M3 ID EGGERS TREEFARM, LLC, hereinafter referred to as
DEVELOPER.
WITNESSETH:
WHEREAS, DEVELOPER received approval from the CITY on December 12, 2017, of the construction
plans ("Construction Plans"), for the development known as Tree Farm Subdivision No. 2
("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 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 constriction, materials or work thereof for a
period of two (2) calendar years from the date of written acceptance of such Improvements.
WARRANTY SURETY AGREEMENT — Tree Farm Subdivision No. 2 — Page 1
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:
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 estimated sum of $23,185.06 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 bid, as
set forth on Exhibit "A" attached hereto and incorporated herein, 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 — Tree Farm Subdivision No. 2 — 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.
Grantor:
Fairmont Tempe, LLC,
an Arizona limited liability company
By: M3 ID Eggers Treefarm, L.L.C.,
an Arizona limited liability company
Its: Attorney -in -Fact (Instrument No. 2018-010856 records of
Ada County, Idaho)
By: M3 Builders, L.L.C.,
an Arizona limited liability company,
Its: Manager
By: The M3 Companies, LLC,
an Arizona limited liability company
V V
By: illian� L Brownlee,
Its: Manager
STATE OF IDAHO )
ss.
County of Ada )
On this day of 201 &before me, the undersigned, a Notary
Public in and for the State of Idaho, personallpeared William I. Brownlee, known or identified to me
to be the Manager of M3 ID EGGERS TREEFARM, LLC, who executed this instrument on behalf of said
LLC, and acknowledged to me that such LLC executed the same.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and year first
above written.
AL
Nit c"y
tV Notary Public for fdahd
e` , + ' My commission pir s: {
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WARRANTY SURETY AGREEMENT — Tree Farm Subdivision No. 2 — Page 3
STATE OF IDAHO
ss.
County of Ada
CITY OF MERIDIAN:
Tammy de We d, ayor
On this 11'1A day of "� �� 20]�) before me, the undersigned, a Notary Public in and
for the State of Idaho, personally appeared ammy 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
�-Amwk ku� k
•rrrrr• ''
•••��= -A�•Notary Public for daho
40 &+ d��!• My commission Expires:
• •
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*40100000
WARRANTY SURETY AGREEMENT — Tree Farm Subdivision No. 2 — Page 4
Exhibit A
SURETY BREAKDOWN
FOR
Tree Farm Subdivision No. 2
Date Compiled: July 16, 2018
Letter of Credit/Bond No.:
Issued By:
Expiration Date:
Check No
EIDR IAN=-,
C--91yDeve1opment
Department
1
Sanitary Sewer (internal)
125% $
E
- $
t -
. .
Public Works
J:2
Sanitary Sewer (Offsite)
125% $
- $
Public Works
'.' 3
Water (Internal)
125% $
- $
" -
Public Works
5
Water (Offsite)
125% $
- $
` -
Public.Works
6
Reclaimed Water
125% $
- $
-
Public Works
7
Street. Lights
52,577.50 110°% $
57,835.25 $
- 57,835.25
Building
8
Landscaping
312,250.99 110% $
343,476.09. $ .210,854.44 $
= 132,621.65
Planning
9
Pathways
110% $
- $ ''
-
Planning
10
Fencing
97,287.00 110% $
107,015.70. $ 53,507.85 $
53,507.85
Planning
11
Pressurized Irrigation
>.110% $
- $
-
Public Works
`12
Gravity Irrigation
110% $
- $
': -
Public Works
`13
Other
-110% $
$-
'; 14
Other:
110% $
`; _ $
15
Other.:.
:110% $
' - $-
`16
Other.
110%$
$-
117
Other. I
1 110% $
_ $
_
TOTAL:
462,115.49 $ 506,327.04 $ 264,362.29 $
WARRANTY SURETY (20% OF LINE ITEMS 1-5) $
BALANCE TO REMAIN: $
243,964.75
243,964.75