Silver Springs SubdivisionADA COUNTY RECORDER Phil McGrane 2020-160578
BOISE IDAHO Pgs=5 BONNIE OBERBILLIG 11/23/2020 09:42 AM
CITY OF MERIDIAN, IDAHO NO FEE
City of Meridian
DEVELOPMENT SURETY . AGREEMENT
Salver Springs SubdWision
THIS DEVELOPMENT SURETY AGREEMENT is made and entered into. this day of
�1.200-0 'by and between the CITY OF MERIDIAN, &i .MUllicipal Corporaton,
-hereinafter referred to as CITY; and. TODD CAMPBELL CONSTRUCTION, INC.,, hereindfter
referred to DEVELOPER.
WITNESSET14:
WHEREAS, DEVELOPER received approval from the CITY on May 22, 2020, of the
cons.tiuction plans- ("Consttu6tion Plans"), for the development. known as Silver Springs
Subdivision ("Subdivision Plat'.) located in the. City of Meridian,. which Construction Plans
include improvements for public life, saf6ty and"health ("Required Public. lniproVement8?) and.
improvements for non -life; rion-safety and non -health improvements CRequired. .Development
linproyements") (The -Required Public Improvements and RequiredImprovements
Development
may be collectively referred herein as "Im&ovements")-, and.
WHEREAS, DEVELOPER.has petitione.d.t1he CITY to accept the Subdivision Platand execute:
the fina
l platpriorto the installation of the. -Improvements; and
WHEREAS, the Unified Development Code -of t.he:C.ity of Meridian, - Section 1.1-5C-1 through I I-
.5C-4 and.applicable ordinances and laws of the..CITY require. that the DEVELOPER. execute and.
file with the CITY an agreement providing for, among other things, the: period within.whic . h. all
required. improvements -shall be made within said Subdivision and that `if the improvements are:
not.compl6ted within the period specified, the CITY may complete the.
Same and recover the full
cost and:ek.pen9e.thcreofTrbin the DEVELOPER; itfid
WHEREAS; the CITY is agreeable to. accej$ance and filing of said Subdivision Plat upon the
.
6xecution,of this Agreement and' compliance, by the DEVELOPER. with the provisions of `the
. a
Unified Development. Code. of the City of'Mefidian.
NOW, THEREFORE, in consideration of 4
foregoing mutual promises, covenants and agreements
of the parties, it is hereby agreed as,f6llows -
1. The.
DEVELOPER agrees to. install all of the Requited Public Improvements,
and bind
themselves to us.e.such materials and to.so construct all of the Improvements. in compliance
with-Constructionc Plans and all applicable. City ordinances and State Codes and-in.a manner
,acceptable to. the -CITY - (hereinafter "City'sRequirements"
DEVELOPMENT 'SURjETY AGREEMENT — Silver. SpArigs-Subdivision.— Page, I
2:. The DEVELOPER. agrees to' restore at nor cost to: the CITY any'monument erected or used:
4s..4 survey - marker or boundary of any tract, plat or parcel of land which monument is.
brokendown, damaged,bbliterated,removed or-desttoyed,'Whether willfully or not, by -the
DEVELOPER, or the agents,. employees or contractors of the DEVELOPER.
1 The DEVELOPER -agrees that alt-said Improvements shall be completed on of before May
22; 2021,.and that the DEVELOPER.. will correct, repair and maintain all such Reauired.
Public hmproVenients. from. any defects; omissions or irregularities
gu arit:ies in the construction,.
materials orwork.thereof fora periodoftwo.(2) calendar years from the date of written.
aceeptanke.cif*80ch lqjprovement§. The DEVELOPER agrees that if they abandon the.
Improvements,fail to make satisfactbty-.Progr6ss on the Improvements, or fidl to complete.
the Improvements by:fhe date specified. the CITY
ITY may cause. -the-Jmproveinents- to: be.
completed by another person under* contract, by its Own f6rces, or both and that.
DEVELOPER hereby grants. -A License for such purposes. The DEVELOPER shall be
jointly afid.severably.hable. to the CITY for any and. 411 loss And. damage ..from such -
I '
abandonment . or failure, either from: the -greater ex-ponse.o.fso-cornpl6titig-orrepa'iring:faulty
or damaged Improvements, or from an
y other cause related to. DEVELOPERS failure to
complete the Improvements,, which expense shall not. be .limited by. any surely, ,y
4.. Upon executionofthis Agreement, the DEVELOPER shall deliver to CITY .aperformance
'
surety Corporate Surety Bond or Cash Deposit)
. �y (Irrevocable Letter of C.k.edii.5
("Performance Surety") for the purpose of assuring DEVELOPER'S full and faithful
completion of - therequired Improvements as shown on the Construction Plans: 'The -amount
.of the Performance Surety for the Ifriprovein6hts shall be the sum of S-153,72.7.'88 as set
forth on. Exhibit "A" attached hereto and incorporated herein. The amount of such
Performance Surety: is -based upon 125% - of an itemized contractor's bid for4he completion
the: Required Public Rnprovements; and 110% 'of all. other Required Development
Improvements. CITY'S acceptance of such assurance shall notbe-eonstrued as alirnitafion.
on.the amount.w.hi& maybe spent on completion of the Improvements,
5'. At such time as allReqpired'Pubtic hnprQypments. have been completed in accordance with
the'.ClTY'-S..requiretn requirements, the DEVELOPER shall notify tiae. CITY of the readiness for
,final inspection. . ctionUpon certification by.'the Citya -
Engineer th tall requirements of the CITY'
.have been met and CITY formally accepts such lriiproVetnents in writing; the f6ll-owing
shalt occur:
A.. The DEVELOPER shall . :submit a written request 'to the CITY torelease the
Performance Surety,'including:
i. A. statement from the DEVELOPER that the "required, lmproverneMg are
triple'te anti
a� co have been constructed In accordance the. City's
with
R6quiremehts, and
ii. Two hard copy seis, and one electronic. copyofas-built plans.
DEVELOPMENT, SURETY AGREEMENT —Silver. Springs Subdivision - Page
lit..
lit.. A. final accounting of the finished costs of the. Required- Public
Improvements; substantiated by -'billing invoicing from. the. contractor(s).
perfbrn-fifigthe work..
B. The: DEVELOPER *shall submit to. the CITY a Warkaftty Surety in a f6r.in approved
by the. CITY in the estimated. 67* ted.-sum of $- 258..60 toprovidefor correction Of any
defectiVt niaterids or--Woflcmafishipin such Required Public improvements for a
period oftwo (1) years after :.final acceptance as -defined in the City Public Works
C6nstfuttion Code. The amount of such surety ,assurances is . based upon. 20% of
the contractor's itemized bid ,for the -bonipletiori of the. Required Public
improvements. .At- the expiration of the two year period, 'DEVELOPER: shall
submit.a Written requestjo,theCITY to release the' Warranty Surety, -along with a
statement from the DEVELOPER that the Required Public -1nipto.veiiieiits:*,coiitiniie
to meet -City's Requiretinlentis at the end of the two year warranty. period. After
receiving'suoh- request. the CITY shalLconduct. an inspection of the . Required Public
IMproVernents4o determine if any defects are present. If there are no defects, . CITY
shall release/return- the Warranty Surety to DEVELOPER.
6. The CITY agrees. to accept the. R:6quired. Publiciinp�.pveiiients'upon .certification -by the
City Ejagiheer
A., That all Required Public Improvements have been constructed in accordance. with
the City' s. Rbquireffieftts.
Such certification U-not intended io relieve lieveDEVELOP y
DEVELOPER contractor or-materi'al
supplier of -their responsibility for ail"y defects in. materials r
rials P workmanship, of such
Improvements-,
7. In. construing this Agreement., it . is understood that either party may bemore than one,
person and if the context so requires, .the :s'ingular betaken to mean. and
pronoun shall be
'include the plural, the masculine. and neuter, and that -generally all grammatical changes
all be made, assumed -and impli.6d'to make -the provisions. hereof apply equally10 a sing'le
or several individuals;
DEVELOj?MF,Nt:S)URETY AGREEMENT— Stivek, Springs Subdivision — Page 3.
IN WITNESS WHEREOF, the parties shall cause this Development Surety Agreement to be
executed by their duly authorized officers the day and year first above written.
STATE OF IDAHO
ss.
TODD CAMPBELL CONSTRUCTION, INC.:
By:
TODD A. CAMPBELL, President
County of Ada )
On this day of V�ii l l 202', before me, the undersigned, a Notary
Public in and for the State of Idaho, personally appeared Todd A. Campbell, known or identified to me to
be the President of TODD CAMPBELL CONSTRUCTION, INC., who executed this instrument on behalf
of said Corporation, and acknowledged to me that such Corporation executed the same.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and
year first above written.
1111111/1///
..,+ Notary Public for Id h+
• A(� G ; My commission Expires:�l �
BL►
DEVELOPMENT SURETY AGREEMENT — Silver Springs Subdivision — Page 4
STATE -OF IDAHO
: ss.
CITY OF MERIDIAN:
i8y.
)b er4E.tI
on, Mayor
'
County of Ada -
On this day of NL\
oub 20,1� 1
.. do
be the,Mayor of the City of Meridian, Idaho and'whosubgeribed
`acknowjedzed to me that the City of Meridian executed the.sam . e.
ieford: iiie, the undersigned,, a Notafy'
Simison, kgowfi or identified to me to
n
his name to the within instrument and
IN WITNESS WHEREOF, .1 have. hereunto set my -hand And. affixed Tay official seal the. day and.
.year first: above written.
SEAL,
>1�
*0000000* (&6tai0*1c for Idaho
•*o
'Aly-comfiission Expire&: 0
0 0 T.4•
COMMISSION •
#20182077
***OF I'D #
Owego*
DEVELOPMENT-KRETY AGREEMENT — Silver Springs Subdivision — Page. 5