MWT LLC Payment in Lieu of Streetlights Prevail No. 1 Subdivision AGREEMENT TO ACCEPT PAYMENT IN LIEU OF INSTALLING STREETLIGHT
AT
PREVAIL NO. I SUBDIVISION
THIS AGREEMENT for streetlight installation, made this 5th day of May, 2020 between the City of
Meridian, a municipal corporation organized under the laws of the State of Idaho, whose address is
33 East Broadway Avenue, Meridian, Idaho (hereinafter"City"), and MWT LLC., P.O. Box 2640, Eagle,
ID 83618 (hereinafter "MWT").
WHEREAS, MWT has received from City, conditional approval of the Final Plat for the Prevail
No. 1 Subdivision, Case No. FP H-2020-0020; and,
WHEREAS, One of the Site Specific Conditions of Approval of City's approval of FP H-2020-
0020 is to install streetlights on all public roadways per the City of Meridian Improvement Standards
for Street Lighting; and,
WHEREAS, MWT is currently unable to install the required streetlights on S. Meridian Road in
front of the Prevail No. 1 Subdivision because S. Meridian Road has not been built out to its ultimate
width; and,
WHEREAS, once the S. Meridian Road is improved, City is willing to install the required
streetlights if MWT has paid to City the estimated amount necessary to install the streetlights.
NOW THEREFORE,THE PARTIES AGREE AS FOLLOWS:
1. MWT shall payto City the amount of$33,860.00 as the amount necessary to supply and install
four (4) type 1 streetlights.
2. City agrees to accept the amount set forth in Article 1 in lieu of requiring MWT to install the
four (4) streetlights on S. Meridian Road in front of the Subdivision.
3. Upon payment of the amount in Article 1 by MWT to City, MWT's requirement to install the
four (4) streetlights on S. Meridian Road shall be considered satisfied.
4. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their
heirs, successors and assigns, and shall survive any transfer by MWT of MWT's Property.
IN WITNESS WHEREOF,the parties shall cause this Agreement to be executed by their duly authorized
officers the day and year first above written.
MWT, LLC. CITY OF MERIDIAN
BY: BY
Dougla . McMaster, Manager Robert E. Simison, Mayor
Meridian City Council Meeting Agenda May 5,2020— Page 13 of 126