HomeMy WebLinkAboutVertex Subdivision No. 2 ADA COUNTY RECORDER Trent Tripple 2024-027492
BOISE IDAHO Pgs=6 MATT BUNK 05/23/2024 09:23 AM
CITY OF MERIDIAN, IDAHO NO FEE
City of Meridian
DEVELOPMENT SURETY 'T
Vertex Subdivision No. 2
THIS DEVELOPMENT SURETY AGREEMENT is made and entered into this 22day of
May , 2024 by and between the CITY OF MERIDIAN,a Municipal Corporation,
hereinafter referred to as CITY, and SMITH BRIGHTON INC., hereinafter referred to as
DEVELOPER.
WITNESSETH:
WHEREAS, DEVELOPER received approval from the CITY on September 20, 2022, of the
construction plans("Construction Plans"),for the development known as Vertex 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 petitioned the CITY to accept the Subdivision Plat and execute
the final plat prior to the installation of the Improvements; and
WHEREAS,the Unified Development Code of the City of Meridian, Section 11-5C-1 through 1I-
5C-4 and applicable ordinances and laws of the CITY require that the DEVELOPER execute and
file with the CITY an agreement providing for, among other things, the period within which all
required improvements shall be made within said Subdivision and that if the Improvements are
not completed within the period specified, the CITY may complete the same and recover the full
cost and expense thereof from the DEVELOPER; and
WHEREAS, the CITY is agreeable to acceptance and filing of said Subdivision Plat 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 install all of the Required Public Improvements and bind
themselves to use such materials and to so construct all of the Improvements in compliance
with Construction Plans and all applicable City ordinances and State Codes and in a manner
acceptable to the CITY(hereinafter"City's Requirements"). .
2. The DEVELOPER agrees to restore at no cost to the CITY any monument erected or used
as a survey marker or boundary of any tract, plat or parcel of land which monument is
DEVELOPMENT SURETY AGREEMENT—Vertex Subdivision No.2-Page 1
22May24
I
f
k
t
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,..
j
3
• k
SMITH BRIOHTON INC-
By:
Robert L.PlA'li s—Chief Operating Officer
STATE OF IDAHO )
• . ss.
County of Ada ) 1
On thisp��—_day of 20" before me, the undersigned, a Notary
Public in and for the State of Idaho, pe nally appeared Robert L.Phillips,known or identified to me to
be'the Chief Operating Officer of SMI BRIGHTON INC.,who executed this instrument on behalf of
said Corporation,and acknowledged to me that such Corporation executed the same.
1N WITNESS WHEREOF,I have hereunto set my hand and affixed my official seal the day and
year first above written.
SEAL ,
Notary Public for IdahQj
My Commission Expires:_
SHARIVAUGHAN
[Notary Public-State of Idahommission Number 20181002ommission Expires Jun 1,2024
DEVELOPMENT SURETY AGREEMENT—Vertex Subdivision No.2—Page 4 _
22 May 2024