Development Surety Agreement FP 12-014/"~ /'~
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ADA COUNTY RECORDER Christopher D. Rich AMOUNT .00
BOISE IDAHO 03/27/13 03:2fi PM
RECORDED~nREQUEST OIF ~~~ ~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~ ~~ ~~~
Meridian City 1130~c~04
City of Meridian
DEVELOPMENT SURETY AGREEMENT
THIS DEVELOPMENT SURETY AGREEMENT is made and entered into this 19~' day
of March, 2013 by and between the CITY OF MERIDIAN, a Municipal Corporation,
hereinafter referred to as CITY, and JLJ, INC. hereinafter referred to as DEVELOPER.
WITNESSETH:
WHEREAS, DEVELOPER has petitioned the CITY to accept a subdivision plat known
as LARKSPUR SUBDIVISION N0.4, located in the City of Meridian; and
WHEREAS, DEVELOPER has installed all of the required public improvements as
shown on the approved development plans dated the 31st day of August, 2012.
WHEREAS, DEVLOPER has entered into a purchase agreement with the Karen Anne
Marlow Living Trust for real property that is contained within the boundaries of
LARKSPUR SUBDIVISION N0.4, and the Karen Anne Marlow Living Trust is
retaining a portion of that real property. Therefore the Karen Anne Marlow Living Trust
is signatory to the final plat under the Certificate of Owners, however said Living Trust is
not considered a DEVELOPER for the purposes of this agreement.
WHEREAS, prior to the CITY's endorsement and recording of said final plat
DEVELOPER must comply with the provisions of the Meridian City Code, which
include but are not limited to the execution of this Development Surety Agreement.
NOW, THEREFORE, in consideration of foregoing mutual promises, covenants and
agreements of the parties, it is hereby agreed as follows:
1. The DEVELOPER agrees that they will correct, repair and maintain all required
public improvements from any defects, omissions or irregularities in the
construction, materials or work thereof for a period of two (2) calendar years from
the date of acceptance of such improvements.
2. Upon execution of this agreement, the DEVELOPER shall submit to the CITY a
Warranty Surety in a form approved by the CITY in the sum of $27,345.15 to
provide for correction of any defective materials or workmanship in such public
improvements for a period of two (2) years after final acceptance, as defined in
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Meridian City Code §8-6-2. The amount of such surety represents 20% of the
agreed upon amounts from the contractor's final invoice number 148683 from the
DEVELOPER'S contractor, Idaho Sand and Gravel Company.
3. The CITY agrees to accept the completed required subdivision improvements
upon certification by the City Engineer. Such certification is not intended to
relieve DEVELOPER or any contractor or material supplier of their responsibility
for any defects in materials or workmanship of such improvements.
4. In construing this Agreement, it is understood that either party may be more than
one person and if the context so requires, the singular pronoun shall be taken to
mean and include the plural, the masculine, and neuter, and that generally all
grammatical changes shall be made, assumed and implied to make the provisions
hereof apply equally to a single or several individuals.
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.
County of Ada,
. ss.
On this 19th day of March, 2013, before me, the undersigned, a Notary Public in
and for the State of Idaho, personally appeared James L. Jewett, known or identified to
me to be the President of JLJ, Inc. who executed this instrument on behalf of said
company and acknowledged to me that such company executed the same.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official
seal the day and year first above written.
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INESSA BN.YK. Notary Pub ' or daho
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Residing at: 1~'2~2~ CG~1Gti J ~
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STATE OF IDAHO, )
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CITY OF MERIDIAN:
By:
STATE OF IDAHO,
County of Ada,
. ss.
On this ~~ day of !~/I ~'l.y(',~. 20 1 ~, before me, the
undersigned, a Notary Public in and for the State of Idaho, personally appeared Tammy
de Weerd, known or identified to me to be the Mayor of the City of Meridian, Idaho and
who subscribed their 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 ~~...~
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