HomeMy WebLinkAboutTroutner Business Park Development Corporation Full Release of Security Interest Ada County Recorder Trent Tripple 2026-032181
Boise,Idaho Pgs=3 vbailey 05/06/2026 08:09:25 AM
CITY OF MERIDIAN IDAHO$0.00
Electronically Recorded
When Recorded Return To:
City Clerk's Office
City of Meridian
33 E.Broadway Ave.
Meridian,ID 83642
SPACE ABOVE THIS LINE FOR RECORDER'S USE ONLY
FULL RELEASE OF SECURITY INTEREST
IN
TROUTNER BUSINESS PARK
Take notice that the City of Meridian("City")has executed this Full Release of Security Interest in Troutner
Business Park("Full Release")effective 5-5-2026 ,2026("Effective Date").
A. City and Troutner Business Park Development Corporation ("Developer") entered into that
certain Development Agreement[Troutner Business Park] dated April 29, 1997 and recorded June 5, 1997 as
Instrument No. 97044077 in Ada County, Idaho ("Development Agreement") concerning that certain real
property legally described in Exhibit A("Property"). Exhibit A is attached hereto and incorporated herein by
this reference.
B. Pursuant to Section 14.1 of the Development Agreement,Developer granted a security interest
in the Property to the City to secure the installation of certain development-related improvements
("Improvements").
C. Pursuant to Section 14.2 of the Development Agreement, City executed that certain Troutner
Park Subdivision Release of Security Interests of City of Meridian in Phase I Lots dated April 11, 2000 and
recorded that same date as Instrument No. 100027360.
D. All Improvements required by the Development Agreement have been completed to City's
satisfaction.
E. Pursuant to Section 14.2 of the Development Agreement,City hereby releases,in full,any and
all remaining security interests in the Property.
[end of text;signature page and exhibitfollow]
FULL RELEASE OF SECURITY INTEREST 1.
Instrument # 2026-032181
05/06/2026 08:09:25 AM Page 2 of 3
SIGNATURE PAGE
IN WITNESS WHEREOF,the City has executed this Full Release as of the Effective Date.
City of Meridian,
an Idaho municipal corporation
RAert FSimi"Iyor 5-5-2026
ATTEST:
By:
Ch'TiAo"ns �'N-YA�-5-2026
STATE OF IDAHO
) ss.
County of Ada
This record was acknowledged before me on this5th day of May 2026, by
Robert E. Simison and Chris Johnson, acting as Mayor and City Clerk, respectively, of the City of Meridian.
CHARLENE WAY Cho a 4za�, )(w
COMMISSION No. 67390 My Commission Expires 3-28-2028
NOTARY PUBLIC
STATE OF IDAHO
FULL RELEASE OF SECURITY INTEREST
Instrument # 2026-032181
05/06/2026 08:09:25 AM Page 3 of 3
EXHIBIT A
Legal Description of Real Property
A PARCEL OF LAND LYING WITHIN THE NORTHEAST 1/4 OF SECTION 13, TOWNSHIP 3
NORTH,RANGE 1 WEST,BOISE MERIDIAN,MERIDIAN CITY,ADA COUNTY,IDAHO,
MORE PARTICULARLY DESCRIBED AS FOLLOWS:
COMMENCING AT AN ALUMINUM CAP MONUMENT MARKING THE NORTHEAST
CORNER OF SAID SECTION 13; THENCE
WEST ALONG THE NORTH LINE OF SAID SECTION AND THE CENTERLINE OF
FRANKLIN ROAD,A DISTANCE OF 1328.20 FEET TO A BRASS CAP MONUMENT
MARKING THE EAST 1/16TH CORNER OF SAID SECTION 13; THENCE CONTINUING
WEST ALONG SAID SECTION LINE,A DISTANCE OF 362.70 FEET TO THE REAL POINT OF
BEGINNING; THENCE
SOUTH 00 DEGREE 08'25" WEST A DISTANCE OF 613.70 FEET; THENCE
NORTH 72 DEGREES 09'35" WEST A DISTANCE OF 316.95 FEET TO THE EAST BOUNDARY
OF FRANKLIN SQUARE SUBDIVISION AS RECORDED IN BOOK 44 OF PLATS AT PAGES
5587& 5588; THENCE
SOUTH 00 DEGREE 08'58" WEST ALONG SAID EAST BOUNDARY A DISTANCE OF 1363.46
FEET; THENCE SOUTH 85 DEGREES 41'00" EAST A DISTANCE OF 147.41 FEET TO AN
IRON PIN; THENCE
NORTH 79 DEGREES 55'00" EAST A DISTANCE OF 523.48 FEET; THENCE
NORTH 00 DEGREE 13'31"EAST A DISTANCE OF 142.00 FEET; THENCE
NORTH 89 DEGREES 52'13"EAST A DISTANCE OF 790.35 FEET TO AN IRON PIN; THENCE
NORTH 00 DEGREE 23'12"EAST A DISTANCE OF 329.06 FEET TO AN IRON PIN; THENCE
NORTH 89 DEGREES 56'06" WEST A DISTANCE OF 128.95 FEET TO AN IRON PIN; THENCE
NORTH 00 DEGREE 18'07"EAST A DISTANCE OF 663.29 FEET; THENCE
NORTH 89 DEGREES 58'05" WEST A DISTANCE OF 663.21 FEET; THENCE
NORTH 00 DEGREE 13'31"EAST A DISTANCE OF 349.76 FEET; THENCE
WEST A DISTANCE OF 123.99 FEET; THENCE
NORTH 00 DEGREE 13'48" EAST A DISTANCE OF 313.10 FEET; THENCE
WEST A DISTANCE OF 238.73 FEET TO THE REAL POINT OF BEGINNING.
EXCEPT THAT PORTION LYING WITHIN FRANKLIN ROAD RIGHT-OF-WAY.
FULL RELEASE OF SECURITY INTEREST 3