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Sommersby Addendum MI 08-005ADA COUNTY RECORDER J. DAVID NAVARRO AMOUNT .00 BOISE IDAHO 09109/08 09:12 AM DEPUTY usa Irby RECORDED-REQUEST OF III IIIIIIIIIIIIIII~IIIIIIIIIII III'II Meridian City 108101151 ADDENDUM TO THE DEVELOPMENT AGREEMENT PARTIES: 1. City of Meridian 2. Liberty Partners, Inc., Owner/Developer This addendum is made and entered into this day of 2008, by and between CITY OF MERIDIAN, a municipal corporation of the Sta a of Idaho, hereafter called CITY, and Liberty Partners, Inc., whose address is 2873 West Wind, Eagle, Idaho 83616, hereinafter called OWNER/DEVELOPER. RECITALS A. CITY and OWNER/DEVELOPER entered into that certain DEVELOPMENT AGREEMENT, Instrument # 100103906 and amended with the Amended and Restated Development Agreement dated November 15, 2005, and recorded on December 5, 2005 as Instrument # 105184653 on the land described in Exhibit "A" ("Property"). B. CITY and OWNER/DEVELOPER now desire to amend the Development Agreement in accordance with the terms in this Addendum, which terms have been approved by the Meridian Planning and Zoning Commission and the Meridian City Council in accordance with Idaho Code Section 67-6511A. 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: 5. CONDITIONS GOVERNING DEVELOPMENT OF THE PROPERTY: 5.8 The eight (8) office buildings located on lots 33 through 40 plat awe ,,.. ins o ,.t,~ ..~e., t,.,;~a;.,.,~ t,.,,.,~ea ,.,, _r_„~~~~z ,.i...,.,,,.~, cn shall not receive a Certificate of Zoning Compliance until the North Ten Mile Road widening project and the Ten Mile Pine Avenue intersection projects are complete and operational. The term Certificate of Zoning Compliance is used herein as defined in the Zoning Ordinance of the City of Meridian, Idaho. 5.9 Lots 43-50 (as shown on the preliminary plat) of the Sommersby Subdivision shall be recorded prior to issuance of occupancy for the first 8-plex building. ADDENDUM TO DEVELOPMENT AGREEMENT (MI 08-005 SOMMERSBY) PAGE 1 OF 4 2. That Owner/Developer agrees to abide by all ordinances of the City of Meridian and the Property shall be subject to de-annexation of the Owner/Developer, or their assigns, heirs, or successor shall not meet the conditions of this addendum to the Development Agreement, and any new 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 second 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 ofOwner/Developer, to execute appropriate and recordable evidence of termination of this addendum if City, in its sole and reasonable discretion, had determined that Owner/Developerhas 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 there are no promises, agreements, conditions or understanding, 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 second 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. ADDENDUM TO DEVELOPMENT AGREEMENT (MI 08-005 SOMMERSBY) PAGE 2 OF 4 ACKNOWLEDGMENTS IN WITNESS WHEREOF, the parties have herein executed this agreement and made it effective as hereinabove provided. OWNER/DEVELOPER: Attest: Jaycee L. Holman, City Clerk LII BY CITY OF MERIDIAN BY: / Mayor T e Weerd -' r ' 3LAL ~ ~ . ADDENDUM TO DEVELOPMENT AGREEMENT (MI 08-005 SOMMERSBY) PAGE 3 OF 4 STATE OF IDAHO ) . ss: County of Ada, On this ~ day of 2008, before me, the undersigned, a Notary Public in and for said State, perso y appeared Da ~/~ (~ ll~ S{-C ~- known or identified to me to be the Jy~ cTi o~.Gw ~ of Liberty Partners, Inc., and acknowledged to me that he 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 writte 8~,~swasal~® SEAL ~~t~~~~ ~~L..~~~ ~s,~ I~~,~ ( ~~ ~~,q~, ~~~~ N Public for Idaho ~ ~ ~ o ~„®® ~ Residing at: ~~ ~o~,~~~~G ~ My Commission E Tres: ~_/4 -(Z `~~ ~ ~~~ v~®QiD '~' •`'~-sc7.s°® '4w~ duo STATE OF IDAHO ) ss County of Ada ) On this O2~ day of ~-- S~ 2008, before me, a Notary Public, personally appeared Tammy de Weerd and aycee L. Holman, known 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 of 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. (SEAL) ; ;~'~~~~~ Notary Public for Idaho • , ,• ~~~•:, Residing at: (~, l v t ~t ~ I r) "~~ ' • • ~ , ~~ ~~;' ,~ ; Commission expires: ~~~11-1 1 v ~~ ~. fC ,: -' .'i ~•:dAHO ~,•• •....• ADDENDUM TO DEVELOPMENT AGREEMENT (MI 08-005 SOMMERSBY) PAGE 4 OF 4 EXHIBIT A (R-15 Medium High Residential District): A parcel of land situated in a portion of the S%: of the NW'/ of Section 11 T.3N., R. 1 W., B.M., Ada County, Idaho and being partk:ulariy described as follows: Commencing at a brass cap marking the W'/4 corner of Section 11, thence along the West line of said NW'/, N 00°25'27" E a distance of 460.09 feet to a point from which a brass cap marking the NW comer of said Section bears N 00°25'27" E a distance of 2196.33 feet said point being the POINT OF BEGINNING; Thence continuing along said Section line N 00°25'2T' E a distance of 239.80 feet to a 518 inch rebar, Thence leaving said Section S 87°35'23" E a distance of 507.94 feet to a 518 inch rebar, Thence N 80°40'45" E a distance of 344.45 feet to a point; Thence S 61°01'2T' E a distance of 14.33 feet to a point; Thence S 00°49'03" W a distance of 739.62 feet to a 5/8 inch rebar; Thence along the South line of said NW'/ N $9°10'57" W a distance of 485.79 feet to a point: Thence leaving said Section line N 00°49'03" E a distance of 86.04 feet to a point; Thence along the arc of a curve to the right having a radius of 100.00 feet, a central angle of 22°04'49", an arc length of 38.54 feet and a long chord of 38.30 feet bearing N 11°51'28" E to a point; Thence N 22°53'52" E a distance of 51.44 feet to a point; Thence N 67°06'08" W a distance of 43.08 feet to a point; Thence N 89°10'57" W a distance of 158.38 feet to a point; Thence N 00°25'27" E a distance of 273.98 feet to a point; Thence N 89°34'33" W a distance of 200.50 feet to the POINT OF BEGINNING. Said parse! contains 10.96 acres more or Tess and is sub)ect to all existing easements and rights-of--way of record or implied. and SL-Ol Limited Office District: A parcel of land situated in a portion of the S%a of the NW'/4 of Section 11, T. 3N., R. 1W., B.M., Ada County, Idaho and being particularly described as follows: BEGINNING at a brass cap marking the W 114 corner of said Section, thence along the West line of said NW1/4 N 00°25'27" E a distance of 460.09 feet to a point from which a brass cap marking the NW comer of said Section bears N 00°25'27" E a distance of 2196.33 feet; EXHIBIT A Thence leaving said Section line S 89°34'33" E a distance of 200.50 feat to a point; Thence S 0°25'27" W a distance of 273.96 feet to a point; Thence S 89°10'57" E a distance of 156.38 feet to a point; Thence S 67°06'08" E a distance of 43.08 feet to a point; Thence S 22°53'52" W a distance of 51.44 feet to a point; Thence along the arc of a curve to the left having a radius of 100.00 feet, a central angle of 22°04'49". an arc length of 38.54 feet and a long chord of 38.30 feet bearing S 11°51'28" W to a point; Thence S 0°49'03" W a distance of 86.04 feet to a point; Thence along the South fine of said NW'/a N 89°10'57" W a distance of 368.85 feet to the POINT OF BEGINNING. Said parcel contains 2.87 acres more or less and is subject to all existing easements and rights-of--way of record or ~'nplied. EXHIBIT A