HomeMy WebLinkAboutWoodSpring Suites Hotel - Hotel PortionADA COUNTY RECORDER Phil McGrane 2022-059200
BOISE IDAHO Pgs=5 CHE FOWLER 06/27/2022 03:54 PM
CITY OF MERIDIAN, IDAHO NO FEE
City of Meridian
WARRANTY Sill'E 'TY AGREEMENT
WoodSpring Suites Motel — Hotel Portion
THIS WARRANTY SURETY AGREEMENT is made and entered into this 14th day of
.tune , 2022 by and between the CITY OF MERIDIAN, a Municipal Corporation,
hereinafter referred to as CITY, and MERIDIAN HOTEL HOLDINGS LLC, hereinafter referred
to as DEVELOPER.
WITNESSETH:
WHEREAS, DEVELOPER received approval from the CITY on September 11, 2020, of the
construction plans ("Construction Plans"), for the development known as WoodSpring Suites
Hotel — Hotel Portion ("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 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 upon the execution of this
Warranty Surety 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
WARRANTY SURETY AGREEMENT —WoodSpring Suites Hotel — Hotel Portion— Page 1
of the CITY have been met and CITY formally accepts such Improvements in writing, the
following shall occur:
A. The DEVELOPER shall submit to the CITY a Warranty Surety in a form approved
by the CITY in the estimated sum of $8,152.88 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 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 WoodSpring Suites Hotel — Hotel Portion— Page 2
IN WITNESS WHEREOF, the parties shall cause this Warranty Surety Agreement to be executed
by their duly authorized officers the day and year first above written.
MERIDIAN HOTEL HOLDINGS LLC:
N N I M��
-i
Michael Nielson, Manager
STATE OFF}A!
)
County of`7 w LQkC )ss
On this _L;5_day of J U► t'1 20before me, the undersigned, a Notary
Public in and for the State of VAIshmin ersonally appeared Michael Nielson, known or identified to me
to be the Manager, who executed thi=ent 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
MICHELLE MATTSON
COMM. # 718075
MY COMMISSION EXPIRES
MAY 28, 2025
STATE OF UTAH
otary Vublic or4da&6W ,j-a k
My Commission Expires: Mj" Z
WARRANTY SURETY AGREEMENT WoodSpring Suites Hotel — Hotel Portion-- Page 3
Dated: June 14, 2022
CITY OF MERIDIAN:
By:
Bruce F�rec�lkdletVbn
Director of Community Development
WARRANTY SURETY AGREEMENT—WoodSpring Suites Hotel - Hotel Portion— Page 4
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