HomeMy WebLinkAboutPS Mountain West , LLC No Build Agreement City Owned Real Property AdAA�County RO-cordsrTr+ t`T,ripple: 2026.462109,
CITY OF MERIDIAN IDAHO$0.00
Electronically Recorded
RECORDING REQUESTED BYAND
WHEN RECORDED RETURN TO:
MERIDIAN CITY CLERK
33 E.Broa&wyAvenue
Meridian,Idaho 83642
AGREEMENT CONCERNING NO-BUILD COVENANT.
This Agreement Concerning No-Build Covenant("Agreement")is made this 23rctlay of
September ,2025 ("Effective Date")by and between the City of Meridian,an Idaho
municipal corporation("City")and PS Mountain West,LLC,a Delaware limited liability
company("PS"). City and PS may be referred to in this Agreement individually as a"Party" or
collectively as the"Parties"as warranted under the circumstances,
WITNESSETH:
WHEREAS, City owns that certain real property in Meridian,Idaho(APN SO434131300)
depicted as Parcel on Exhibit A,which is attached hereto and incorporated herein by reference
("City Parcel").
WHEREAS,PS owns that certain real property in Meridian,Idaho"(APN-SO434141850)depicted
as Parcel 2 on Exhibit A("PS Parcel").
WHEREAS,PS intends to construct a self-storage facility("Self-Storage Facility")on the PS
Parcel in accordance with that certain Development Agreement between the City and PS dated
July 25,2023 (Instrument No.2023-042622),which is incorporated herein by reference
("Development Agreement").
WHEREAS,the City Parcel includes an area designated for new access road to North Ten Mile
Road,as depicted on Exhibit B,which is attached hereto and incorporated herein("New Access
Road Area").
WHEREAS,PS is required,at its sole expense,to construct the new access road and related
improvements within the New Access Road Area in accordance with Sections 5.1(f)-(i)of the
Development Agreement.
WHEREAS,to facilitate PS's preferred construction plans for the Self-Storage]Facility, PS
would like the City to agree to a no-build covenant that prohibits the City from constructing any
building within the New Access Road Area.
WHEREAS,the City is willing to enter into this Agreement prohibiting the construction of any
building within the New Access Road Area.
Agreement Concerning No-Build Covenant Page 1
Instrument # 2025-062109
09/24/2025 08:54:12 AM Page 2 of 12
NOW,THERFORE,for Ten Dollars($10.00)and other good and valuable consideration,the
receipt of which is acknowledged,the Parties agree as follows:
1. The foregoing recitals are accepted by the Parties as true and are incorporated by
reference herein.
2. PS shall remit Ten Dollars($10.00)to the City for the covenant set forth in Section 3 of
this Agreement.
3. The City shall not construct any building("Building")within the New Access Road Area.
For the purpose of this Agreement,the term"Building"means only a building subject to
the permitting requirements set forth in the most recent edition of the International
Building Code adopted by the City,as amended by Title 10 of the Meridian Municipal
Code("IBC"). For clarity,the term"Building"does not include the access road and
related improvements required under Sections 5.1(f)-(i)of the Development Agreement,
nor any other structures or improvements that do not require a permit under the IBC.
4. This Agreement shall be perpetual,run with the land, and be binding on the Parties and
their successors and assigns.This Agreement shall,to the extent practicable,be recorded
in the public records of Ada County,Idaho.
5. Notwithstanding Section 4,this Agreement may be modified or terminated in writing by
mutual agreement of the Parties.
6. The Parties acknowledge that each Party and,if they should so choose,their attorneys,
have reviewed and revised this Agreement and that the normal rule of construction to the
effect that any ambiguities are to be resolved against the drafting Party shall not be
employed in the interpretation of this Agreement.This is the entire agreement among the
Parties with respect to the no-build covenant covered herein. This Agreement shall be
governed in all respects by the laws of the State of Idaho and venue shall be Ada County,
Idaho.The Parties acknowledge and agree there are no third-party beneficiaries to this
Agreement. The invalidity or unenforceability of any provision of this Agreement shall
not affect the validity or enforceability of any other provision hereof.Time is of the
essence with respect to each and every covenant and obligation under this Agreement.
7. The following provisions,as applicable,are required by Idaho law. The terms used in this
Section 7 shall have the definitions set forth in the respective Idaho Code provisions.
p
a. Pursuant to Idaho Code § 67-2346,PS certifies it is not engaged in,and will not for
the duration of this Agreement engage in, a boycott of goods or services from Israel
or territories under Israel's control.
b. Pursuant to Idaho Code § 18-8703,PS certifies it is not,and will not for the duration
of this Agreement become, an abortion provider or an affiliate of an abortion
provider.
c. Pursuant to Idaho Code § 67-2359, PS certifies it is not,and for the duration of this
Agreement will not be,a company owned or operated by the government of China.
Agreement Concerning No-Build Covenant Page 2
Instrument # 2025-062109
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d. Pursuant to Idaho Code § 67-2347A,PS certifies it is not currently engaged in,and
will not for the duration of this Agreement engage in,a boycott of any individual or
company because that individual or company engages in or supports the
exploration, production, utilization, transportation, sale, or manufacture of fossil
fuel-based energy, timber, minerals, hydroelectric power, nuclear energy, or
agriculture.
e. Pursuant to Idaho Code §67-2347A, PS certifies it is not currently engaged in,and
will not for the duration of this Agreement engage in,a boycott of any individual or
company because that individual or company engages in or supports the
manufacture,distribution,sale,or use of any firearm.
IN WITNESS WHEREOF,the Parties have executed this Agreement,effective as of the
Effective Date.
[End of text; signatures on the following pages]
Agreement Concerning No-Build Covenant Page 3
Instrument # 2025-062109
09/24/2025 08:54:12 AM Page 4 of 12
City of Meridian Attest:
SEAL
Robert E. Simison,Mayor 9-23-2025 Chris Johnson, City Clerk 9-23-2025
STATE OF IDAHO )
) ss
County of Ada )
This record was acknowledged before me on September 23 ,2025, by Robert E.
Simison and Chris Johnson on behalf of the City of Meridian in their capacities as Mayor
and City Clerk,respectively.
CHARLENE WAY
COMMISSION No. 67390
NOTARY PUBLIC Notary Signature:
STATE OF IDAHO My Commission Expires: 3-28-2028
Agreement Concerning No-Build Covenant Page 4
Instrument # 2025-062109
09/24/2025 08`:54:12 AM Pa e 5 of 12
PS Mountain West,LLC,
a Delaware limited liability company
By:Public Storage Operating Company,
a Maryland real estate investment trust
its sole manag• g member
By:
Name:,A A lrm LI ii-
Its: V (2 eve den y
TATE OF )
ss
County of )
III This record w owle e e m n 2025 b on
� s eco d as ackn e o y
behalf Public Storage Operating y,a Maryland real estate investment trust,the sole
managing member of PS Mountain a Delaware limited liability company,in his/her
capacity as c"
Notary Signat
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My Commission Expir
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Agreement Concerning No-Build Covenant Page 5
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Instrument # 2025-062109
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A notary public or other officer completing this certificate verifies only the identity of the individual who signed the
document to which this certificate is attached,and not the truthfulness,accuracy,or validity of that document.
STATE OF CALIFORNIA }
COUNTY OF LOS ANGELES } &S
On (rM 1-e'n1 b'C// /Z , 2025 before me, Sarah You, a Notary Public in and for said
County and State, personally appeared, Sharon Linder, who proved to me on the basis of
satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within
instrument and acknowledged to me that he/she/they executed the same in his/her/their
authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or
the entity upon behalf of which the person(s)acted,executed the instrument.
I certify under PENALTY OF PERJURY under the laws of the State of California that the
foregoing paragraph is true and correct.
*' *1MV
SAAAN YOUNotary Public•cadlornia
WITNESS my hand and official seal. Los Angeles county
Commission 4 2471788
Comm.Expires Nov 14,2027
Signature: (?��
(Notary Seal)
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Instrument # 2025-062109
09/24/2025 08:54:12 AM Page 7 of 12
EXHIBIT A
RECORD OF SURVEY DEPICTING CITY AND PS PARCELS
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Agreement Concerning No-Build Covenant Page 6
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Instrument # 2025-062109
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EXHIBIT B
LEGAL DESCRIPTION AND MAP DEPICTION OF NEW ACCESS ROAD AREA
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Agreement Concerning No-Build Covenant Page 7
Instrument # 2025-062109
09/24/2025 08:54:12 AM Page 12 of 12
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