Loading...
HomeMy WebLinkAboutPuma Subdivision Streetlight Installation Puma Subdivision Acceptant Payment In Lieu Of AGREEMENT TO ACCEPT PAVMENT IN LIEU OF INSTALLiNG STREETLIGHTS AT PUMA SUBDIVISION This AGREEMENT TO ACCEPT PAYMENT iN LIEU OF INSTALLING STREETi.IGIH, AT PUMA SUBDIVISION ("Agreement"). made this27thof Sept. . 2022 ("ET1ective Date") between the City of Meridian, a municipal corporation organized under the laws of the State of' Idaho, whose address is 33 East Broadwav Avenue. Meridian. Idaho ("City"). and Baron Property Services LLC. whose address is 1401 17" Street. Suite 700. Denver. CO 90202 ("Property Owner"'). WHEREAS. Property (honer is the owner of Punta Subdivision, located generally on the north side of the intersection of Black Cat Road and Chinden Boulevard. in Meridian. Idaho ("Subdivision' ): WHEREAS. Property Owner is cruTently unable to install the required streetlights along Chinden Boulevard, because the road has not been built out to its ultimate width: and. WHEREAS. once Chinden Boulevard is widened. City is willing to install the required streetlights lollowing Property O,.vner's payment to City of the estimated 11110LIllt necessary to install such streetlights; WHEREAS. one ofthe Site-Specific Conditions of Approval ofCitv's approval ofLD- RSUB-2021-0042. is that Property (honer must pay City of Meridian One hundred-forty thousand dollars and zero cents ($140.000.00) in lieu ofinstalling eight (8) streetlights on the South side of' the Subdivision. along Chinden Boulevard ("Location"): NOW THEREFORE, for good and valuable consideration. the receipt and sufficiency of which is hereby acknowledged and agreed. and in consideration of the 111lltUal promises and covenants herein contained, and in consideration of the recitals above.which are incorporated herein. the Parties agree as follows: I. CONINIFFINIENTS M PROPFRTI M NER. A. Payment. By September 15. 2022. Property Owner shall pay to City one hundred forty thousand dollars and zero cents ($140.000.00). for the installation ofeight (8) streetlights at Location. B. Consent to entry. Property (honer shall, and hereby does. provide to the City perpetual consent and access to enter the Subdivision for the purpose of inspecting or installing streetlights and related infrastructure. Except in the event ofan imminent or realized threat to the public health. safety. or welfare. City shall provide Property Owner at least twenty- I011l- (24) IIOUI'S prior notice Of SLIC11 eiltry. SUCK notice may he verbal, written. or be posted at Location. II. COMMITMENTS BV CITY. A. Installation. City agrees to accept the amount set forth in this Agreement in lieu of requiring Property Owner to install the eight (8) streetlights at Location. A(:REENIE\I To Mvurr PAYMENT IN LIEU OF INSIALLAI10\ OFSIREI-7IAGIIIti B. Payment of additional expense for installation. Upon Property O,wner's payment ofthe anlcnult set forth herein. the requirement in LD-RSUB-2021-0042 to install the eight (8) streetlights at Location shall be considered satisfied. Cite shall be responsible for any additional cost of installation of streetlights beyond the anlount paid by Property O,yncr under this Agreenlent. 111. (;F:NERAL PIMVISMNS. A. Default. Any Iailure to perform the terms and conditions of this Agreenlent. or any portion thereof; shall be a default hereunder. B. Notices. Any notice desired by the Parties or required by this Agreenlent shall be deenled delivered after deposit in the United States Mail. postage prepaid. addressed as lollovvs: i f to City: I f to Property ONvner: City of Meridian Baron Property Services, LLC City Clerk 1401 17"' Street Suite 700 331 E. Broadway Ave. Denver. CO 80202 Meridian, Idaho 83642 Either Party may change its address file the purpose ofthis section by delivering to the other Party written notification of such change. establishing a new address for noticing Purposes. in accordance with the requirements of this section. C. Time is of the essence. The Parties acknowledge and agree that time is strictly of the essence with respect to each and every term. condition. and provision hereof. and that the failure to timely perform any ofthe obligations hereunder shall constitute a breach and default hereunder by the Party so failing to perform. 1). Seyerability. If any provision of this Agreenlent is held invalid by a court of competent jurisdiction. such provision shall be deemed to be excised herefronl and the invalidity thereof shall not affect any other provision or provisions contained herein. E. Attorney fees. Should any litigation be commenced between the parties hereto concerning this Agreement, the prevailing party shall be entitled. in addition to any other relief as may be granted. to court costs and reasonable attorne} lees as determined by such court. This provision shall be deemed to be a separate contract between the Parties and shall survive. inter alia. any default, tern ination, of tol-feltl.11'e of this Agreelllellt. F. Final Agreement. This Agreement sets forth all promises. inducements, agreements. conditions, and understandings between City and Property (honer relative to the subject matter hereof: and there are no promises, agreements, conditions, or understandings. either oral or written. express or implied. between City and Property O\yner. other than as are stated herein. Except as otherwise specifically provided herein, no subsequent alteration, amendment, change. or addition to this Agreement shall be binding upon the Parties unless set forth in writing and duly executed by both Parties or their successors in interest. (:. Non-waiver. Failure of either Party to promptly enforce the stl-ict pedon-ilance of any te1-11) of this Agreenlent shall not constitute a waiver or relinquishment of any Party's right to A(:ul.l_Nlex r To Accl-:r r PAYMENT IN LI EII OF P vIv 2 thereafter enforce such teen. and any right or remedy hereunder may he asserted at any time after either party becomes entitled to the benefit thereof. notwithstanding delay in enforcement. All rights and remedies herein enumerated shall be cumulative and none shall exclude any other right or remedy allowed by law. Likewise. the exercise of any remedy provided for herein or allowed by law shall not be to the exclusion of any other remedy. H. Compliance with laws. Throughout the course of this Agreement. the Parties shall comply with all applicable laws. ordinances. and codes of federal. State. and local governments. This Agreement shall be governed by and construed and enforced in accordance ,vith the laws of the State ofI daho. and the ordinances of the Citv of Meridian. The City's ordinances appertaining to streetlight installation and maintenance. and any prospective amendments to and/or recodifications thereof: are specifically and xvithout limitation irfcorporated into this Agreement as il'set forth fully herein. 1. Advice of attorney. Each party warrants and represents that in executing this Agreement. it has received independent legal advice from its attorney or the opportunity to seek such advice. .1. Warranty of authority. Each party to this Agreement represents and -warrants that the execution, delivery. and performance ofthis Agreement has been duly authorized by all necessary action of such party and is a valid and binding obligation upon the persons or entity signing this Agreement. K. Approval Required: "phis Agreement shall not become el'lective or binding until approved by the City COLmCiI of the City of Meridian. IN WITNESS WHEREOF. the parties shall cauu this Agreement to he executed bN, their duly authorized officers the 1:17ecti\e Date first ahoy e \\ritten. Property Oh%ner: aron pe S ?S� ff R' s, ai a CITY OF MERIDIAN: Attest: Robert E. Simison 9-27-2022 Chris Johnson 9-27-2022 Mavor City Clerk A(;KI•:I.%IF.Ni ToAcci-,I'rPAYMENTINLIEUOFIxsr:u.►.KnoxOrSrI(Ia:n.►cnIS I'.u;I:3