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Falconers Place MDA H-2015-0015ADA COUNTY RECORDER Christopher D. Rich 2016.040095 BOISE IDAHO Pgs=4 BONNIE 05/11/2016 10:32 AM MERIDIAN CITY NO FEE II�III('II II "I�I'I'IIIII II IiI � ('I(�II�I �'I'II SII 00223777201600400960040044 ADDENDUM TO DEVELOPMENT AGREEMENT PARTIES: 1. City of Meridian 2. Summit Equity, LLC, Owner/Developer A-� THIS ADDENDUM TO DEVELOPMENT AGREEMENT is dated this day of f -k a,A , 2016, ("ADDENDUM"), by and between City of Meridian, a municipal corporation of the State of Idaho ("CITY"), whose address is 33 E. Broadway Avenue, Meridian, Idaho 83642 and Summit Equity, LLC, ("OWNER/DEVELOPER'), whose address is P.O. Box 190534, Boise, Idaho 83719. RECITALS A. CITY and OWNER/DEVELOPER entered into that certain Development Agreement that was recorded on October 13, 2005 in the real property records of Ada County as Instrument No. 105152708 ("DEVELOPMENT AGREEMENT") B. CITY and OWNER/DEVELOPER now desire to amend the Development Agreement, which terms have been approved by the Meridian City Council in accordance with Idaho Code Section 67-6511. NOW, THEREFORE, in consideration of the covenants and conditions set forth herein, the parties agree as follows: 1. OWNER/DEVELOPER shall be bound by the terms of the Development Agreement, except as specifically amended as follows: 4. USES PERMITTED BY THIS AGREEMENT: 4.1 The uses allowed pursuant to this Agreement are only those uses allowed under "City's " Zoning Ordinance codified at Meridian City Code Section 11-7-2 D which are herein specified as follows: Construction and development of a residential development consisting of twenty-three (23) single-family residential lots, and six (6) common lots in an R-8 zone on 4.69 acres. 4.2 No change in the uses specified in this Agreement shall be allowed without modification of this Agreement. ADDENDUM TO DEVELOPMENT AGREEMENT - Falconers Place Subdivision, MDA H 2015-0015 Page 1 of 4 5. DEVELOPMENT IN CONDITIONAL USE: Delete in its entirety. 6. CONDITIONS GOVERNING DEVELOPMENT OF SUBJECT PROPERTY.- 6.1. "Developer" shall develop the "Property" in accordance with the following special conditions: 1. Development of the site shall consist of a maximum of twenty-three (23) single-family lots, and six (6) common lots, including one (1) existing single-family residences to remain. 2. That the applicant is required to hook-up the existing single-family home to city sewer and water with the construction of Phase 1, not before. 3. Future development of the site shall substantially comply with the submitted preliminary plat, landscape plan and elevations attached in ExhibitA 4. All future development of the subjectproperty shall comply with all City of Meridian ordinances in effect at the time of development. 5. Prior to issuance of a buildingpermitfor any single-family home, the applicant shall record a final plat. 2. That Owner/Developer agrees to abide by all ordinances of the City of Meridian and the Property shall be subject to de -annexation if the Owner/Developer, or their assigns, heirs, or successor shall not meet the conditions of this Addendum, and the Ordinances of the City of Meridian as herein provided. 3. This Addendum shall be binding upon and insure to the benefit of the parties' respective heirs, successors, assigns and personal representatives, including City's corporate authorities and their successors in office. This Addendum shall be binding on the Owner/Developer of the Property, each subsequent owner and any other person(s) acquiring an interest in the Property. Nothing herein shall in any way prevent sale or alienation of the Property, or portions thereof, except that any sale or alienation shall be subject to the provisions hereon and any successor owner or owners shall be both benefited and bound by the conditions and restrictions herein expressed. City agrees, upon written request of Owner/Developer, to execute appropriate and recordable evidence of termination of this Addendum if City, in its sole and reasonable discretion, had determined that Owner/Developer have fully performed its obligations under this Addendum. 4. If any provision of this Addendum is held not valid by a court of competent jurisdiction, such provision shall be deemed to be excised from this Addendum and the invalidity thereof shall not affect any of the other provisions contained herein. 5. This Addendum sets forth all promises, inducements, agreements, condition, and understandings between Owner/Developer and City relative to the subject matter herein, and ADDENDUM TO DEVELOPMENT AGREEMENT - Falconers Place Subdivision, MDA H 2015-0015 Page 2 of 4 there are no promises, agreements, conditions or under -standing, either oral or written, express or implied, between Owner/Developer and City, other than as are stated herein. Except as herein otherwise provided, no subsequent alteration, amendment, change or addition to this Addendum shall be binding upon the parties hereto unless reduced to writing and signed by them or their successors in interest or their assigns, and pursuant, with respect to City, to a duly adopted ordinance or resolution of City. a. Except as herein provided, no condition governing the uses and/or conditions governing development of the subject Property herein provided for can be modified or amended within the approval of the City Council after the City has conducted public hearing(s) in accordance with the notice provisions provided for a zoning designation and/or amendment in force at the time of the proposed amendment. 6. This Addendum shall be effective as of the date herein above written. 7. Except as amended by the Addendum, all terms of the previous Agreements shall remain in full force and effect. ACKNOWLEDGMENTS IN WITNESS WHEREOF, the parties have herein executed this agreement and made it effective as hereinabove provided. OWNER/DEVELOPER: Summit Equity, LLC By CITY OF MERIDIAN OV&pJJEDq�j _° ay r T y de Weerd ATTEST: 01 or W C-�►'1 E jDjAN IDAHO SEAL Jacy J nes, City Clerk ol0 TREAsv�`�\ ADDENDUM TO DEVELOPMENT AGREEMENT - Falconers Place Subdivision, MDA H 2015-0015 Page 3 of 4 STATE OF IDAHO ) ss: County of Ada, ) On this day of cu, , 2016, before me, the undersigned, a Notary Public in and for said State, personally appeared 4.�- , known or identified to me to be the X06 -)11p of Summit Equity, LLC, and acknowledged to me that he executed the same on behalf of said Company. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and year in this certificate first above written. (SEAL) wAT �•�� �pTAR y'•• i r•r ipjjwc � 00 *006090996 STATE OF IDAHO ) ss County of Ada ) Not;�ry Public for Idaho Residing at: 6''U'-1eUa , My Commission Expires: (/ t 7, Z On this )day of 2016, before me, a Notary Public, personally appeared Tammy de Weerd and Jacy Jones, know or identified to me to be the Mayor and Clerk, respectively, of the City of Meridian, who executed the instrument or the person that executed the instrument on behalf of said City, and acknowledged to me that such City executed the same. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and year in this certificate first above written. C (SEAL) y, -3 °0066..•° d K41 � [ - 4 -WC Notary Public for aho p Residing at: 64 Commission expires: � ADDENDUM TO DEVELOPMENT AGREEMENT - Falconers Place Subdivision, MDA H 2015-0015 Page 4 of 4