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HomeMy WebLinkAboutPZ - Addendum to DA FIRST ADDENDUM TO DEVELOPMENT AGREEMENT PARTIES: 1. City of Meridian 2. [list all owners] THIS FIRST ADDENDUM TO DEVELOPMENT AGREEMENT ("ADDENDUM") is made and entered into this_day of , 2024, by and between City of Meridian, a municipal corporation of the State of Idaho ("CITY"), whose address is 33 E. Broadway Avenue, Meridian, Idaho 83642 and [insert ownership groups], (collectively, "OWNER/DEVELOPER"), whose address is [insert address]. RECITALS A. CITY and Kayla Rich and Jason Rick, and Chester Properties, LLC entered into that certain Development Agreement dated September 27, 2022 and recorded September 28, 2022 as Instrument#2022-082504 in Ada County Records (the "Development Agreement").All capitalized terms not otherwise defined herein shall have the same meaning ascribed to them in the Development Agreement. B. Kayla Rich and Jason Rich and Chester Properties, LLC have conveyed their interest in the Property to OWNER/DEVELOPER. C. OWNER/DEVELOPER submitted an application to annex and zone an additional +/- 3.14 acre parcel of property located at 935 S. Black Cat Road, Meridian Idaho (Ada County Parcel#S1216417241) (the "Additional Property") and to modify the Development Agreement for the primary purpose of including the Additional Property within the Development Agreement and to add the conceptual development plan and building elevations for the Additional Property. D. The Meridian City Council approved OWNER/DEVELOPER'S annexation and zoning and development agreement modification applications pursuant to the [date] Findings of Fact, Conclusions of Law and Decision& Order("Modification Findings"), which is attached hereto and by this reference incorporated herein. E. CITY and OWNER/DEVELOPER now desire to amend the Development Agreement, subject to the terms and conditions of this ADDENDUM, which terms and conditions have been approved by the Meridian City Council in accordance with Idaho Code Section 67-6511. AGREEMENT NOW, THEREFORE, in consideration of the covenants and conditions set forth herein, the parties agree as follows: 1. OWNER/DEVELOPER shall be bound by the terms of the Development Agreement, except as amended as follows: a. Section 5.1k shall be deleted in its entirety. 2. The Additional Property, legally described on Exhibit B, attached hereto and by this reference incorporated herein, shall be subject to the terms and conditions of the Development Agreement as of the Effective Date. 3. The Additional Property will be developed in accord with the Modification Findings. 4. That Owner/Developer agrees to abide by all ordinances of the City of Meridian and the Property shall be subject to de-annexation, on the terms set forth in Section 7 of the Development Agreement, if the Owner/Developer, or their assigns, heirs, or successor shall not meet the conditions of this Addendum, and the Ordinances of the City of Meridian as herein provided. 5. This Addendum shall be binding upon and insure to the benefit of the parties' respective heirs, successors, assigns and personal representatives, including City's corporate authorities and their successors in office. This Addendum shall be binding on the Owner/Developer of the Property, each subsequent owner and any other person(s) acquiring an interest in the Property. Nothing herein shall in any way prevent sale or alienation of the Property, or portions thereof, except that any sale or alienation shall be subject to the provisions hereon and any successor owner or owners shall be both benefited and bound by the conditions and restrictions herein expressed. City agrees, upon written request of Owner/Developer, to execute appropriate and recordable evidence of termination of this Addendum if City, in its sole and reasonable discretion, had determined that Owner/Developer have fully performed its obligations under this Addendum. 6. If any provision of this Addendum is held not valid by a court of competent jurisdiction, such provision shall be deemed to be excised from this Addendum and the invalidity thereof shall not affect any of the other provisions contained herein. 7. This Addendum, together with the Development Agreement. sets forth all promises, inducements, agreements, condition, and understandings between Owner/Developer and City relative to the subject matter herein, and there are no promises, agreements, conditions or under-standing, either oral or written, express or implied, between Owner/Developer and City, other than as are stated herein. Except as herein otherwise provided, no subsequent alteration, amendment, change or addition to this Addendum shall be binding upon the parties hereto unless reduced to writing and signed by them or their successors in interest or their assigns, and pursuant, with respect to City, to a duly adopted ordinance or resolution of City. a. Except as herein provided, no condition governing the uses and/or conditions governing development of the subject Property herein provided for can be modified or amended within the approval of the City Council after the City has conducted public hearing(s) in accordance with the notice provisions provided for a zoning designation and/or amendment in force at the time of the proposed amendment. 8. This Addendum shall be effective as of the date herein above written. 9. Except as expressly amended by this Addendum, all terms and conditions of the Development Agreements shall remain in full force and effect. [End of text. Acknowledgments, signatures and exhibits to follow]