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HomeMy WebLinkAboutApex Northwest Subdivision No. 3 ADA COUNTY RECORDER Trent Tripple 2024-062073 BOISE IDAHO Pgs=6 VICTORIA BAILEY 11/01/2024 09:11 AM CITY OF MERIDIAN, IDAHO NO FEE City of Meridian DEVELOPMENT SURETY AGREEMENT Apex Northwest Subdivision No. THIS DEVELOPMENT SURETY AGREEMENT is made and entered into this 25 day of October , 20 24 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 February 29, 2024 of the construction plans ("Construction Plans"), for the development known as Apex Northwest Subdivision No.3 ("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-I through I I- 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: I. 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—Apex Northwest Subdivision No.3—Page I ADA COUNTY RECORDER Trent Tripple 2024-062132 BOISE IDAHO Pgs=6 BONNIE OBERBILLIG 11/01/2024 10:13 AM CITY OF MERIDIAN, IDAHO NO FEE City of Meridian DEVELOPMENT SURETY AGREEMENT Apex Northwest Subdivision No. THIS DEVELOPMENT SURETY AGREEMENT is made and entered into this 25 day of October , 20 24 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 February 29, 2024 of the construction plans ("Construction Plans"), for the development known as Apex Northwest Subdivision No.3 ("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-I through I I- 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: I. 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—Apex Northwest Subdivision No.3—Page I 25 October 2024