HomeMy WebLinkAboutPermanent Utility Easement Contract Victory/Ten Mile Michael and Vickie ChanevCity of Meridian
33 East Broadway Ave., Meridian, ID 83642
PERMANENT UTILITY EASEMENT CONTRACT
Project # and Description: 10631 - Victory Road/Ten Mile Road Water Main Extension
Parcel # and Owner: R9364580120 — Michael and Vickie Chaney
Date of Offer: September 13, 2018
THIS RIGHT-OF-WAY CONTRACT, made this q-11",da ofOC�Ob62018, between the Ci of Meridian,
YCity
acting by its Mayor and Council, herein called "CITY" and Michael and Vickie Chaney, herein called "GRANTOR".
WHEREAS, subject to the terms outlined below, GRANTOR agrees to deliver to the CITY a Utility Easement for a
Pressure Reducing Valve, using CITY's standard easement form, in the location identified on Exhibits "A" and `B":
NOW THEREFORE, the parties hereto agree as follows:
1. CITY shall pay GRANTOR such sums of money and/or benefits as are set out below:
ITEM DESCRIPTION AREA GROSS VALUE VALUATION EASEMENT VALUE
(Ft2) ($/Ft2) FACTOR ($)
Permanent Easement 29317 $0.92 100% $29131.64
In consideration of the GRANTOR'S agreement to utilize a valuation of $0.92 per square foot of the property is based
on current assessed value $214,600 or $40,262.66 per acre. The CITY agrees to pay the GRANTOR a lump sum of
$7,868.36 to avoid the cost of relocating the Potable Water Infrastructure due to the future widening of Victory Road.
TOTAL EASEMENT CASH SETTLEMENT AMOUNT $10,000.00
2. As set forth in the City of Meridian's Easement Acquisition Policy, the Grantor may choose from two options for just
compensation for the permanent easement:
Cash Payment* in the amount of $1000.00
❑ Donation value of the easement $1000.00
*Grantor will receive payment for the permanent easement within four weeks following the recording of the
easement and acquisition of the easement preparation contract noted in Item 1 above.
3. This Contract shall not be binding unless and until executed by the Mayor and/or their authorized representatives. The
parties have herein set out the whole of their agreement, the performance of which constitutes the entire consideration for
the granting of said easement and shall relieve the CITY of all further claims or obligations on that account or on account of
the location, grade, construction and maintenance of the proposed infrastructure.
4. The parties whose names appear below as Grantors, covenant and warrant that they are the OWNERS of the property to
which this document applies, are fully authorized to execute this document and forever bind themselves, their successors
and assigns and the subject property to the terms set forth herein.
IN WITNESS WEREOF, the parti
contract the day and year first
CITY OF MERID
Al
Date approved b Council. l�l Y
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