HomeMy WebLinkAboutLicense Agreement IMT GrantLICENSE AGREEMENT
(Blenville Square)
This License Agreement {"Agreement") is effective the 5'h day of February, 2010, between Idaho
.. ~~
Mutual Trust, LLC, a Delaware limited liability company ( IMT) and Steve Grant, an individual
("Licensee") (Licensee is referred to in the singular for simplicity regardless of the number of licensees).
In consideration of the mutual promises contained in this Agreement, the Parties agree that the
following Recitals are correct and that the terms of this Agreement are binding:
RECITALS
A. IMT owns the real property commonly known as the Bienville Square Subdivision, located in
Meridian, Ada County, Idaho (the "Subdivision"). The Subdivisionss more particularly described on
attached Exhibit A and is marked as "Bienville Square Subdivision" on the drawing attached hereto as
Exhibit B.
B. Licensee owns the real property commonly known as 1534 Leslie Way, Meridian, Ada County,
Idaho 83646 ("Licensee's Property"). Licensee's Property is marked as "SG" on Exhibit B.
C. A cinder block fence runs along the Westerly boundary of the Subdivision in the approximate
location depicted on Exhibit B (the,"Fence"). The Fence is not located directly on the boundary between
the Subdivision and Licensee's Property. It is located approximately four feet (4') inside the boundary of
the Subdivision. The four foot gap between the Fence and Licensee's Property (the "Subject Property's
is the subject of this Agreement. '...~;
D. The Fence was erected to provide a barrier between the Subdivision and the neighboring
community where Licensee's Property is located. The Fence does not reflect the legal boundary for the
Subdivision.
E. Licensee desires to have the use of the Subject Property pursuant to the terms of this Agreemerrt.
AGREEMENT
1. GRANT OF LICENSE. IMT grants to Licensee a license to occupy and use the Subject
Property, pursuant to the terms and conditions of this Agreement (the "License"). As consideration for
tl~e granting of the License, Licensee agrees and acknowledges that 4he Fence has been constructed in an
acceptable manner and relinquishes all objections, if any, relating to the installation of the Fence.
Additionally, during the term of this License, Licensee covenants to maintain the Subject Property so that
it is not deemed a nuisance by any governmental agency.
2. TERM OF LICENSE. The License shall remain effective and inure to the benefit of Licensee's
heirs and assigns unless the Fence is demolished. In the event the Fence is demolished, the License shall
terminate.
3. INDEMNIFICATION. Licensee (josntly and severally if more than one) agrees to indemnify
and hold IMT harmless from any claims, damages, liabilities, costs or expenses relating to Licensee's, or
Licensee's guests, agents or invitees, use of.the Subject Property.
4. ADDITIONAL CONSIDERATION. As additional consideration for', this Agreement, IMT
agrees as follows:
- Within sixty (60) days of the execution of this Agreement, IMT shall backfill and compact
the soil on the portion of the Subject Property that borders Licensee's Property. After the
above-described work is complete, IMT shall have no further responsibility to maintain or
make improvements to the Subject Property.
- IMT shall pay Licensee Tltree Thousand Dollars ($3,335.62) upon execution of this
Agreement.
5. ENTIRE AGREEMENT. This Agreement contains the entire agreement between the parties to
this Agreement with respect to the subject matter of this Agreement and supersedes all prior
understandings, agreements, representations and warranties, if any, with respect to such subject matter.
IDANO MUTU~-L TRUST, LLC
may: Ben Slau ter "
Its: Authorized ember
Date: ~ f ~ / ( ~
STEVE GRAN+T
_ ~ '~ /~
Date:
EXHIBIT A
LEGAL DESCRIPTION
Lo#s i, 2, 3, 4, 5, 6, 7, 8, 9, 10,11,12,13, 14,15, 16,17, 18,19, 20, 21, 22, 23, 24, 25, 26, 27 & 28 in
Block 1, Lots 1, 2, 3, 4, 5, 6, 7, 8, 9,10, 11,12, 13,14,15, 16,17,18,19, 20, 21, 22, 23, 24, 25, 26, 27, 28,
29, 30, 31, 32, 33, 34 & 35, Block 2 and Lot 1 In Block 3 of Bienville Square Subdivision, according to the
plat thereof filed in Book 102 of Plats at Page 13,495 thru 13,498, records of Ada County, Idaho.
o~
rn
;~
00
~~
~.
r•
b
N
O
a
,. ~
b
v
~.} z
-°1
~'~` M
•Z
111
Z
v
m
~_ ~
! O
(' 7r,
~' a
0
z
a
c
m
~\
~ A
W
A ~ ~
n
w
b
a~"a
ce,
O