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Development Agreement - 2012 - Terra View (Flack / Carlock) - 2/22/2012 ADA COUNTY RECORDER Christopher D.Rich AMOUNT .00 5 BOISE IDAHO 03105/12 04:35 PM DEPUTY Gail Garrett 1111111111111111111111111111111111111 RECORDED-REQUEST OF 112020312 Eagle City Recording Requested By and When Recorded Return to: Planning and Zoning Administrator City of Eagle P.O. Box 1520 Eagle, Idaho 83616 For Recording Purposes Do Not Write Above This Line DEVELOPMENT AGREEMENT MODIFICATION This Development Agreement Modification, made and entered into on the date as indicated herein,by and between the City of Eagle, a municipal corporation in the State of Idaho ("Eagle"), by and through its Mayor, and SB/CH Land Company(Flack/Carlock), LLC, ("Owner"). WHEREAS,the Owner is the owner of record of certain real estate consisting of approximately 287.6-acres generally located at the northeast corner of State Highway 16 and West Beacon Light Road, Eagle, Idaho, ("Property"), as specifically defined in Development Agreement recorded under Instrument No. 109021224 in the public records of Ada County, Idaho; and WHEREAS, the proposed development agreement modification includes properties within an area currently zoned MU-DA (Mixed Use with a development agreement); and WHEREAS, all provisions with the Development Agreement recorded under Instrument No. 109021224 are in, and shall remain in full force and effect, except that, conditions of development 3.2 and 3.22 are amended as stated herein. WHEREFORE, the Owner and the City of Eagle desire to resolve the issues and concerns that have arisen and for and in consideration of the mutual covenants contained in the Development Agreement recorded under Instrument No. 109021224,the modification is agreed to as follows: ARTICLE I MODIFIED CONDITIONS OF DEVELOPMENT 3.2 Applicant shall develop the Property subject to the conditions and limitations set forth in this Agreement. Applicant shall also submit such applications regarding design review,preliminary and final plat reviews, and/or any conditional use permits, if applicable, and any other applicable applications as may be required by the Eagle City Code in effect as of the Effective Date of this Agreement. Page 1 of 4 s:\docs\sb-ch land company(flack-carlock),1lc\terra view\agr\modification to development agreement(clean 2-21-12).docx Applicant shall submit a preliminary plat for all or a portion of the Property within six (6)years of the Effective Date. At the termination of the six(6)year time period the applicant shall be permitted a two (2)year extension of time under the criteria in the code that exists at the time the extension of time application is submitted. An approved preliminary plat shall expire two (2) years following action by Eagle City Council, or after any additional period of time as may be approved by Eagle City Council, not to exceed an additional three (3) years, which approval shall not be unreasonably withheld. All preliminary plat applications must be submitted within fifteen(15)years after the initial preliminary plat has been approved by Eagle City Council. A final plat application must be submitted to Eagle prior to the expiration of the applicable preliminary plat. In the event that final plat applications in connection with portions of a preliminary plat are submitted in an orderly and reasonable manner in intervals not to exceed one (1) year following the recordation of the last final plat, such final plat applications shall be considered for final approval without resubmission of the preliminary plat for approval. A final plat shall be recorded in two (2) years following Eagle City Council action on the final plat;provided however, Eagle City Council may approve the extension of such two (2) year period, which approval shall not be unreasonably withheld, for a period of time not to exceed three (3) years to facilitate the completion improvements required by the applicable sections of Eagle City Code. As part of its consideration to extend the time frame in this Section, Eagle City Council may require Applicant to adhere to subdivision ordinances and resolutions in effect at the time the extension is requested. 3.22 The Property is located within both the Eagle Fire District and the Star Joint Fire Protection District and,therefore, Applicant shall work with both the Eagle Fire District and the Star Joint Fire Protection District for all fire service/protection issues as it applies to the respective Fire Districts;provided, however, nothing in this Section 3.22 shall limit Applicant's ability to annex into one fire district so long as Eagle Fire District, Star Joint Fire Protection District and Applicant working in good faith reach agreement in a recorded Memorandum of Understanding or as otherwise allowed under Idaho law. ARTICLE II GENERAL MATTERS Enforceable Provisions. The original Development agreement, instrument number 109021224, remains in full force and effect except as modified in Article I herein. Page 2 of 4 s:\docs\sb-ch land company(flack-carlock),11c\terra view\agr\modification to development agreement(clean 2-21-12).docx IN WITNESS WHEREOF, the parties have executed this Development Agreement Modification. DATED this. .2-, day of/w% 2012. a �.•' OF EA ;"•., CITY OF EAGLE, a municipal corporation �,o�� ,$®••'° a •'•® '' organized and existing under the laws of the State of t 1, : Idaho °•: Q® 9; STATE OF IDAHO ) ) :ss. County of Ada ) On this 561day of,I wrr . 2012,before the undersigned notary public in and for the said state,personally appeared JAMES D. REYNOLDS, known or identified to me to be the Mayor of the City of Eagle and the person who executed the foregoing instrument on behalf of said City and acknowledged to me that said City executed the same. IN WITNESS WHEREOF, I have hereunto set my hand and seal the day and year first above written. <-,i A y. Notary Pudrc •r dah•, ilk . Residing at / ' . ./l_ ,, -. My Commission Expires: elLAj STATE OF ) ):ss. County of ) V-114 On this day of 2012, before the . dersigned Notary Public in and for the said state,personally appeared STEPHEN P CH, known or identified to me to be the Managing Director/Chief Operating Officer of Stoc. •ridge Capital Group, LLC, a Delaware limited liability company and a Manager of Stockbri.:e Real Estate Partners II,LLC, a Delaware limited liability company and a Manag- of SB/CH Land Company(Flack/Carlock), LLC,the owner of the property referenced her;'n and the limited liability company that executed the within and foregoing instrument, or the .erson who executed the instrument on behalf of said limited liability company, and acknowle►ged to me that such limited liability company executed the same. IN WITNESS WHERE• , I have hereunto set my hand and seal the day and year first above written. Notary Public for Idaho Residing at: My Commission Expires: Page 4 of 4 s:\dots\sb-ch land company(flack-carlock),Ilc\terra view\agr\modification to development agreement(clean 2-21-12).docx CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT CIVIL CODE§1189 State of California ] County of SSGt n F!'AAGi S l 0 ; On re n4a,9a °Z�0112/ before me, Keite.0 /4 a' 5 /1)04-a,y A 474.e.„ , :� to / Here Ins�rt Name and Title of/the Officer personally appeared /A€, ®//C/ j Name(s)of Signer(s) r ,. who proved to me on the basis of satisfactory >> evidence to be the person(s) whose name(s) is/are t subscribed to the within instrument and acknowledged to me that he/she/they executed the same in Chis/her/their authorized capacity(ies), and that by >> C ,, + RENEE his/her/their signature(s) on the instrument the >j #f. Comte#ISMS person(s), or the entity upon behalf of which the :�� ` 'ic-CEtoni* person(s) acted, executed the instrument. ; `" 1 Son Francisco Comm am I I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. t >j Signature: Place Notary Seal Above Signature of Notary Public OPTIONAL 9� Though the information below is not required by law,it may prove valuable to persons relying on the document >> and could prevent fraudulent removal and reattachment of this form to another document. ' Description of Attached Document /y ts Title or Type of Document: D Ylot�Ai i4y.ees4 t qo474tcaIon/I `"7 Document Date: p / Number of Pages: Signer(s) Other Than Named Above: Jiiyvte.5 D.ie�'yAOfeS . ,.__ j Capacity(ies) Claimed by Signer(s) � Signer's Name: J57 vA '/1 r 1/C Signer's Name: >j 1---Corporate Officer — Title(s):laitoti AI Pried vr❑Corporate Officer — Title(s): ❑ Individual RIGHT THUMBPRINT ❑ Individual RIGHT THUMBPRINT �� OF SIGNER OF SIGNER ❑ Partner— ❑Limited ❑General Top of thumb here ❑ Partner — ❑Limited ❑ -neral Top of thumb here ❑ Attorney in Fact ❑Attorney in Fact i C ❑ Trustee ❑Trustee >j ❑ Guardian or Conservator ❑Guardian or .nservator ❑ Other: ❑Other: C >> Signer Is Representing: Si. -r Is Representing: C >> C >> ©2010 National Notary Association•NationalNotary.org•1-800-US NOTARY(1-800-876-6827) Item#5907