HomeMy WebLinkAboutPrescott Ridge Subdivision No. 4 Ada County Recorder Trent Tripple 2025-047111
Boise,Idaho Pgs=9 vbailey 07/25/2025 12:22:14 PM
CITY OF MERIDIAN IDAHO$0.00
Electronically Recorded
City of Meridian
DEVELOPMENTSURETY AGREEMENT
Prescott Ridge Subdivision o°
THIS DEVELOPMENT SURETY AGREEMENT is made and entered into this 1- day of
, 20 V5 by and between the CITY OF MERIDIAN, a Municipal Corporation,
hereinafter referred to as CITY, and HUBBLE HOMES, LLC, hereinafter referred to as
DEVELOPER.
WITNESSETH:
WHEREAS, DEVELOPER received approval from the CITY on December 05, 2024, of the
construction plans ("Construction Plans"), for the development known as Prescott Ridge
Subdivision No.4("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—Prescott Ridge Subdivision No.4—Page 1
City of Meridian
DEVELOPMENT SURETY AGREEMENT
Prescott Ridge Subdivision No . 4
THIS DEVELOPMENT SURETY AGREEMENT is made and entered into this j76day of
20 Z5 by and between the CITY OF MERIDIAN , a Municipal Corporation,
hereinafter referred to as CITY , and HUBBLE HOMES , LLC , hereinafter referred to as
DEVELOPER .
WITNESSETH :
WHEREAS , DEVELOPER received approval from the CITY on December 05 , 2024 , of the
construction plans ( " Construction Plans " ) , for the development known as Prescott Ridge
Subdivision No . 4 (" 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 - 5C4 through 11 -
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 — Prescott Ridge Subdivision No . 4 — Page 1
broken down , damaged , obliterated , removed or destroyed , whether willfully or not , by the
DEVELOPER, or the agents , employees or contractors of the DEVELOPER .
3 . The DEVELOPER agrees that all said Improvements shall be completed on or before July
305 2026 , and that the DEVELOPER will 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 . The DEVELOPER agrees that if they abandon the
Improvements , fail to make satisfactory progress on the Improvements , or fail to complete
the Improvements by the date specified , the CITY may cause the Improvements to be
completed by another person under contract , by its own forces , or both and that
DEVELOPER hereby grants a License for such purposes . The DEVELOPER shall be
jointly and severably liable to the CITY for any and all loss and damage from such
abandonment or failure , either from the greater expense of so completing or repairing faulty
or damaged Improvements , or from any other cause related to DEVELOPERS failure to
complete the Improvements , which expense shall not be limited by any surety .
4 . Upon execution of this Agreement, the DEVELOPER shall deliver to CITY a performance
surety (Irrevocable Letter of Credit, Corporate Surety Bond or Cash Deposit)
("Performance Surety" ) for the purpose of assuring DEVELOPER ' S full and faithful
completion of the required Improvements as shown on the Construction Plans . The amount
of the Performance Surety for the Improvements shall be the sum of $ 804 , 695 . 41 as set
forth on Exhibit "A" attached hereto and incorporated herein . The amount of such
Performance Surety is based upon 125 % of an itemized contractor ' s bid for the completion
the Required Public Improvements , and 110 % of all other Required Development
Improvements . CITY ' S acceptance of such assurance shall not be construed as a limitation
on the amount which may be spent on completion of the Improvements .
5 . At such time as all Required Public Improvements have been completed in accordance with
the CITY ' S requirements , the DEVELOPER shall notify the CITY of the readiness for
final inspection . Upon certification by the City Engineer that all requirements of the CITY
have been met and CITY formally accepts such Improvements in writing , the following
shall occur :
A . The DEVELOPER shall submit a written request to the CITY to release the
Performance Surety , including :
i . A statement from the DEVELOPER that the required Improvements are
complete and have been constructed in accordance with the City ' s
Requirements , and
ii . Two (2 ) hard copy sets , and one electronic copy of as - built plans .
iii . A final accounting of the finished costs of the Required Public
Improvements , substantiated by billing invoicing from the contractor( s )
performing the work .
DEVELOPMENT SURETY AGREEMENT — Prescott Ridge Subdivision No . 4 — Page 2
B . The DEVELOPER shall submit to the CITY a Warranty Surety in a form approved
by the CITY in the estimated sum of $ 71 , 217 . 89 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 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 .
6 . The CITY agrees to accept the Required Public Improvements upon certification by the
City Engineer
A . 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 .
7 . 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 .
DEVELOPMENT SURETY AGREEMENT — Prescott Ridge Subdivision No . 4 — Page 3
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 .
HUBBLE HOMES , LLC :
By : �
Austin Edwards — Authorized Agent
STATE OF IDAHO )
: ss .
County of Ada )
On this day of 20P7.5, before me , the undersigned , a Notary
Public in and for the State of Idaho , personally appeared Austin Edwards , known or identified to me to be
the Authorized Agent of HUBBLE HOMES , LLC , who executed this instrument on behalf of said Limited
Liability Company , and acknowledged to me that such Limited Liability Company executed the same .
IN WITNESS WHEREOF , I have hereunto set my hand and affixed my official seal the day and
year first above written .
SEAAENNY SMITH
NOTARY PUBLIC - STATE OF IDAHO
COMMISSION NUMBER 23655 Notary Publ ' for I aho
MY COMMISSION EXPIRES 2- 16-2031- - - - - - - i My Commissi
on on Expires : �� _ : 0 3
DEVELOPMENT SURETY AGREEMENT — Prescott Ridge Subdivision No . 4 — Page 4
CITY OF MERIDIAN:
Dated: 25 July 2025 By: C. C?" Y y &d
Caleb Hood
Deputy Director of Community Development
DEVELOPMENT SURETY AGREEMENT—Prescott Ridge Subdivision No.4—Page 5
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Docu3ign Envelope ID : ODAEE24C-4D65AO74-BBAA-6B6F5CCCBOBD 00
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For Office Use Only 0]
STATEMENT OF AUTHORITY . FILE ® q w
LIMITED LIABILITY COMPANY File #: 0006168830 0
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Date Filed : 3/11I2025 8 : 05 : 00 AM �,AMENDMENT , INEA
1 . The name of the limited liability company is : (the " Company " )
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Hubble Homes , LLC Ln
2 . The Company' s Registered Agent is :
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Paracorp Incorporated to
1555 W . Shoreline Dr . , Ste . 100
Boise, ID 83702
3 . The effective date of this Statement of Authority is : tD
Upon filing with the Idaho Secretary of State N .
4 . The Statement of Authority amended hereby was filed :
October 12 , 2021 , as amended August 22 , 2022 , November 21 , 2022 , October 23 , 2023 ,
December 8 , 2023 , August 5 , 2024, August 26, 2024 , and October 1 , 2024
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5 . Paragraph # 5 of said Amended Statement of Authority is hereby deleted in its entirety and H'
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replaced with the following : N .
Brian Cutting , Mitchell S . Armuth , and Austin Edwards are individually authorized and iD
empowered for and on behalf of and in the name of the Company to execute any 0
instrument transferring real property held in the name of the Company ; enter into other
transactions on behalf of, or otherwise act for or bind , the Company ; and state the ,
authority or its limitations of a specific person to transfer property to and from the
Company, obtain any or all governmental entitlements , and perform any other duties as
necessary to effectuate the business purpose, and any such actions heretofore taken by H
these persons on behalf of the Company is hereby ratified , approved, and confirmed . _
6 . Paragraph # 6 of said Amended Statement of Authority is hereby deleted in its entirety and
replaced with the following .
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Mike Warr, Melissa Ray, and Vanessa Belden (flea Vanessa Cornwall) are individually
authorized and empowered for and on behalf of and in the name of the Company to sign
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and accept escrow instructions , closing documents , deeds , and all other necessary and
supporting documents for the purchase and sale of new homes on such terms and
conditions and in such amounts as may be determined by the Company, and any such
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AMENDED STATEMENT OF AUTHORITY — 1 130652 - 1138 B0846- 5555
130732- 0401 B0930- ] 131 it
1307364007 B0932-2569
1308464354 B0930-5979
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actions heretofore taken by these persons on behalf of the Company is hereby ratified , "
approved , and confirmed .
A copy of this Statement of Authority shall be deemed an original for all purposes and may be
relied upon in determining the authority of the above-named agent(s) .
COMPANY : Hubble Homes, LLC 0
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Print : Wayne Farnsworth , Esq .
Title : Secretary/Authorized Agent, Woodside Group , LLC, Manager LI1
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AMENDED STATEMENT OF AUTHORITY 2 1306524138 13084 &5555 it
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STATEMENT OF
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CHANGE , RESIGNATION OR TERMINATION w
BY COMMERCIAL REGISTERED AGENT
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(see reverse for Instructions ) 0
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The person Identified below submits to the Secretary of State the following statement for the purpose of
changing its commercial registered agent information on file with the Secretary of State .
1 . The name of the commercial registered agent is :
PARACORP INCORPORATED
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2 . The address of the commercial registered agent currently on file is : Q
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1555 W SHORELINE DR STE 100 BOISE , ID 83702
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3 , Information on file that is to be changed : 11,
The name or address of the agent has changed . The new name / address is :
10020 W FAIRVIEW AVE . SUITE 104 BOISE , ID 83704 {
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Cl The type orjurisdiction of organization of the agent has changed . The new type or jurisdiction is : N .
The agent resigns from serving as agent for service of process for the entity listed below: H ,
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and the name and address of the person to which the agent will send notice at the represented tD
entity : H
F1The agent is no longer in the business of serving as a commercial registered agent in Idaho . The to 0
termination will take effect on the thirty�first day after the day on which this filing is received by the
Secretary of State ' s office .
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Signed ; Filing Office Use Only
Printed Name : MA THEW MARZUCCO
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Capacity: CEO
Dated : May 12 , 2025co
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