HomeMy WebLinkAboutLLynx Investments for Right of Way Easement for Sewer Q
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MEMORANDUM OF UNDERSTANDING o =~
REGARDING THE FUTURE RELEASE a o"~
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RIGHT OF WAY EASEMENT FOR SANITARY SEWER
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THE CITY OF MERIDIAN } ° ~ ' ~'
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THIS MEMORANDUM OF UNDERSTANDING is made and entered into this "°'
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day of ~6ctobgr, 2010, by and between Lynx Investments, LP, a California Limited
Partnership (Lynx) and The City of Meridian, Idaho (City), to establish a mutual
understanding the future release of a Sanitary Sewer Easement currently held by City
on certain real property owned by Lynx.
WHEREAS, Lynx owns certain commercial real property located generally at the
southeast corner of Cherry Lane and Meridian Road in the City of Meridian (the
Property) upon which exists a sanitary sewer easement dated January 10, 1956, and
recorded as Instrument Number 394602 in the records of Ada County, State of Idaho (the "1956
Easement"); and
WHEREAS, Lynx has granted a new sanitary sewer easement to City and City intends
to extend the sewer main located on the property to Meridian Road and eliminate the
sewer main connection to Cherry Lane at such time as Meridian Road is reconstructed
as part of the Ada County Highway District project known as the Split Corridor, Phase
two; and
WHEREAS, as part of the consideration for granting the new easement, Lynx would like
to receive assurances from City that the 1956 Easement will be released, terminated,
and extinguished at such time as the sewer main on the property is extended to
Meridian Road.
NOW, THEREFORE, the parties hereby agree as follows:
MEMORANDUM OF UNDERSTANDING- 1 Of 3
1. Lynx agrees to execute a sanitary sewer easement in the standard City form in
the portion of the Property as depicted on Exhibit A to this agreement.
2. Upon completion of the Split Corridor Phase Two road project and the
connection of the sanitary sewer to Meridian Road, City agrees to execute and
record a Release of Easement pertaining to the 1956 Easement in substantial
conformance with the sample document attached hereto as Exhibit B.
3. Prior to City's execution of the Release of Easement, Lynx shall seek written
verification from City's Department of Public Works that the sanitary sewer has
been connected to Meridian Road and that the 1956 Easement is no longer
needed for City purposes.
4. Upon City's verification as set forth in Section 3 of this agreement, City shall
execute the Release of Easement and record the same in the real property
records of Ada County, Idaho.
5. In the event that the Split Corridor Phase two project is not completed or if the
sanitary sewer is not relocated to Meridian Road, City shall not be under any
obligation to execute the release of the 1956 Easement.
6. In the event that Lynx or its successor in interest fails to request the verification
as set forth in Section 3 of this agreement, City shall have no obligation to
execute the release of the 1956 Easement.
7. If a suit, action, or other proceeding arising out of or related to this MOU is
instituted by any party, the prevailing party shall be entitled to recover its
reasonable attorney fees, expert witness fees, and costs (i) incurred in any
settlement negotiations, (ii) incurred in preparing for, prosecuting or defending
any suit, action, or other proceeding, and (iii) incurred in preparing for,
prosecuting or defending any appeal of any suit, action, or other proceeding. For
the purpose of this section, "attorney fees" shall mean and include (i) attorney
fees and (ii) paralegal fees. This section shall survive and remain enforceable
notwithstanding any rescission of this MOU or a determination by a court of
competent jurisdiction that all or any portion of the remainder of this MOU is void,
illegal, or against public policy.
8. This MOU shall be construed and interpreted in accordance with the laws of the
State of Idaho. The parties agree that the courts of Idaho shall have exclusive
jurisdiction and agree that Ada County is the proper venue.
9. Time is of the essence with respect to the obligations to be performed under this
MOU.
10. Except as expressly provided in this MOU, and to the extent permitted by law,
MEMORANDUM OF UNDERSTANDING- 2 Of 3
any remedies described in this MOU are cumulative and not alternative to any
other remedies available at law or in equity.
11.The failure or neglect of a party to enforce any remedy available by reason of the
failure of the other party to observe or perform a term or condition set forth in this
MOU shall not constitute a waiver of such term or condition. A waiver by a party
(i) shall not affect any term or condition other than the one specified in such
waiver, and (ii) shall waive a specified term or condition only for the time and in a
manner specifically stated in the waiver.
12.This MOU shall be binding upon and inure to the benefit of the parties and their
respective successors, assigns, heirs, personal representatives, purchasers, or
transferees of any kind.
IN WITNESS WHEREOF, the parties do execute this Memorandum of Understanding
the day and year first above written.
LYNX INVESTMENTS LP
By
Joseph arte, Waging Partner
CITY OF MERIDIAN, IDAHO
By:
Tammy de rd, Mayor
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Attest: Fo
Jaycee L. Holm City Clerk
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MEMORANDUM OF UNDERSTANDING- 3 Of 3
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MEMORANDUM OF UNDERSTANDING- 4 Of 4