Oaks South No. 4 Addendum #1 Development Surety AgreementADA COUNTY RECORDER Christopher D. Rich 2017-033423
BOISE IDAHO Pgs=2 BONNIE OBERBILLIG 04/17/2017 03:06 PM
CITY OF MERIDIAN, IDAHO NO FEE
ADDENDUM NO. I
Regarding Change in Ownership
City of Meridian
DEVELOPMENT SURETY AGREEMENT
The Oaks South Subdivision No. 4
THIS ADDENDUM TO THE DEVELOPMENT SURETY AGREEMENT is made and entered
into this day of &I , 2017 by and between the CITY OF MERIDIAN, a
Municipal Corporation, Aereinafter referred to as CITY, and TOLL ID I, LLC.
WITNESSETH:
WHEREAS, New Oaks LLC received approval from the CITY on April 8, 2016, of the
construction plans ("Construction Plans"), for the development known as The Oaks South
Subdivision No. 4 ("Subdivision Plat") located in the City of Meridian, which Construction
Plans include improvements for public life, safety and health ("Required Public Improvements")
and improvements for non -life, non -safety and non -health improvements ("Required
Development Improvements") (The Required Public Improvements and Required Development
Improvements may be collectively referred herein as "Improvements"); and
WHEREAS, on the 6th day of October, 2016, New Oaks LLC and CITY entered into a
DEVELOPMENT SURETY AGREEMENT whereby surety was posted to assure completion
and warranty of the Required Development Improvements; and,
WHEREAS, on the 4th day of November, 2016, New Oaks LLC conveyed its interest in the
Subdivision Plat to TOLL ID I LLC, an Idaho Limited Liability Company; and,
WHEREAS, TOLL ID I LLC desires to fulfill the requirements contained in the October 6, 2016
DEVELOPMENT SURETY AGREEMENT, and New Oaks Idaho LLC desires to be relieved of
its obligations thereunder. .r a ki . # 2 01 & — 01 � 5 6 7
NOW, THEREFORE, in consideration of foregoing mutual promises, covenants and agreements
of the parties, it is hereby agreed as follows:
As of the date of this Addendum, the DEVELOPER shall be TOLL ID I LLC, and
said DEVELOPER agrees to be bound by all of the conditions contained therein.
All other terms of the DEVELOPMENT SURETY AGREEMENT shall remain the same.
ADDENDUM NO. 1 TO DEVELOPMENT SURETY AGREEMENT—Oaks South No. 4 —Page 1
IN WITNESS WHEREOF, the parties shall cause this First Addendum to the Development
Surety Agreement to be executed by their duly authorized officers the day and year first above
written.
STATE OF IDAHO
ss.
County of Ada
TOLL ID I, LLC:
By:�`
Thomas Coleman, Division President
On this day of AON 20, before me, the undersigned, a Notary
Public in and for the State of Idaho, personally appeared Thomas Coleman, known or identified to me to
be the Division President, who executed this instrument on behalf of said LLC, and acknowledged to me
that such LLC 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
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or
OTA
�'UBL1C = CITY OF MERIDIAN:
Of
By:
Tammy er , ayor
STATE OF IDAHO
ss.
County of Ada )
On this day of 16rp V- t 20 1 before me, the undersigned, a Notary Public in and for the State
of Idaho, personally appeared Tammy dd 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.
SEAL
C4�Dpv d
Notary Public for Idaho
My commission Expires: 7 — Z3
SURETY AGREEMENT—Oaks South No. 4 — Page 2