HomeMy WebLinkAboutNon-Build Agreement with Trilogy Development for Silverwater Subdivision FKA Cavanaugh Subdivision Non-Build AgreementNon -Build Agreement
For
Portions of Silverwater Subdivision No. 1
AGREEMENT made this 8th day of March, 2014 by and between
the City of Meridian, hereinafter referred to as "CITY" and Trilogy Development
Incorporated, hereinafter referred to as "DEVELOPER".
WHEREAS, DEVELOPER has recorded a plat for the Silverwater Subdivision
No. 1 (fka Cavanaugh Subdivision) in the records of Ada County, Idaho at Plat Book
106, Pages 14676 — 14684 and DEVELOPER has executed a Development Surety
Agreement (DSA) with CITY, recorded in the records of Ada County, Idaho as
instrument number 114004219. The DSA was intended to assure that certain Required
Public Improvements were installed after the recording of the plat; and,
WHEREAS, DEVELOPER has completed a portion of the Required Public
Improvements and has requested that CITY allow a deferral of the completion of the
remaining Required Public Improvements serving certain lots in the Silverwater
Subdivision; and,
WHEREAS, CITY is willing to agree to the request to defer the unfinished
Required Public Improvements in exchange for DEVELOPER"S agreement not to build
within the portion of the above-named subdivision that abuts the deferred Required
Public Improvements until such time that said improvements are constructed.
NOW, THEREFORE, The parties to this agreement, in consideration of the
mutual covenants and stipulations set out herein, agree as follows:
DEVELOPER and CITY agree that no building permits will be applied for or
issued for specified lots in the subdivision until such time as the deferred Required
Public Improvements have been constructed. The lots subject to this restriction are as
follows located in Silverwater Subdivision No. 1, recorded in the book of plats of Ada
County Idaho at Book 106, Page 14676:
Lots 2-21 of Block 2
Lots 1-10 of Block 3
Lots 1-10 of Block 4
Lots 1-10 of Block 5
Lots 1-10 of Block 6
Lots 2-14 of Block 7
Lots 2-6 of Block 8
This instrument shall be recorded in the land records of Ada County, Idaho,
against the lots stated hereinabove. A document noting that that non -build agreement
has been satisfied will be recorded at such time as the unfinished Required Public
Improvements have been constructed.
Developer shall continue to be subject to the Development Surety requirements
of the Meridian City code, and shall execute an amendment to the existing DSA to
reflect a release of the performance surety on the portions completed and continued
surety on the uncompleted Required Public Improvements.
This instrument contains the entire agreement between the parties, and no
statement, promises, or inducements made by either party or agent of either party that
is not contained in this written contract shall be valid or binding; and this contract may
not be enlarged, modified, or altered except in writing signed by the parties and
endorsed heron.
This agreement shall ensure to the benefit of and be binding upon the heirs,
executors, administrators, assignees, and successors of the respective parties.
IN WHITNESS WHEREOF, the parties have executed this agreement at the City
of Meridian, the day and year first above written.
COREY BARTON HOMES, INC
Im
STATE OF IDAHO )
ss.
County of Ada )
Corey Baton, President
On this day of Ma 20 before me, the
undersigned, a Notary Public in and for th' tate of Idaho, personally appeared Corey
Barton, known or identified to me to be the President of COREY BARTON HOMES,
INC., who executed this instrument on behalf of said Company, and acknowledged to
me that such 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.
SEAL
Notary Public for Idaho
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CITY OF MERIDIAN:
STATE OF IDAHO )
ss.
County of Ada )
On this _ day of _�ACLL4 20 before me, the
undersigned, a Notary Public in and for the 8tate of Idaho, personally appeared Tammy
de Weerd, known or identified to me to be the Mayor of the City of Meridian, Idaho and
who subscribed her name to the within instrument and acknowledged to me that the
City of Meridian executed the same.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official
seal the day and year first above written.
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