Development Agreement - 2013 - Lions Gate DA MOD - 3/4/2013 ADA COUNTY RECORDER Christopher D. Rich AMOUNT .00 5
BOISE IDAHO 03/08/13 08:30 AM
DEPUTY Vicky Bailey
RECORDED-REQUEST OF II I 11111111111111111111111111111 II III
Eagle City 113024772
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 Lazarus, LLC("Owner").
WHEREAS,the Owner is the owner of record of certain real estate consisting of approximately
27.38-acres generally located at the southeast corner of North Ballantyne Lane and West Floating Feather
Road, Eagle, Idaho,and identified in the Ada County Tax Records as parcel#S0507120700("Property"),
as specifically defined in Development Agreement recorded under Instrument No. 107040543;and
WHEREAS,the proposed development agreement modification includes properties within an area
currently zoned R-1-DA; and
WHEREAS, all provisions with the Development Agreement recorded under Instrument No.
107040543, records of Ada County, Idaho, are in, and shall remain in full force and effect, except that,
condition of development 2.2 is 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. 107040543, records of Ada County, Idaho,the modification is agreed to as
follows:
ARTICLE I
MODIFIED CONDITION OF DEVELOPMENT
2.2 The Concept Plan (Exhibit B) represents the Owner's current concept for completion of the
project (25-lot residential subdivision). As the Concept Plan evolves, the City understands
and agrees that certain changes in that concept may occur or be required. If the City
determines that any such changes require additional public comment due to potential
impacts on surrounding property or the community, a public hearing shall be held on any
proposed changes in the Concept Plan, notice shall be provided as may be required by the
City.
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ARTICLE II
GENERAL MATTERS
Enforceable Provisions.The original Development Agreement recorded under Instrument No. 107040543,
records of Ada County, Idaho, remains in full force and effect except as modified in Article I herein."
Effective Date. This Development Agreement Modification shall be effective after delivery to each of the
parties hereto of a fully executed original of this Development Agreement Modification.
Grant of Security Interest. Owner hereby grants a lien to secure the payment of any deferred balance of the
attorney fees and the engineering fees, together with interest accrued thereon. In the event Owner fails to
pay such fees, the City may without prior notice, foreclose this Agreement as a mortgage in accordance
with the mortgage foreclosure laws of the State of Idaho. Upon request of Owner,the City will execute and
deliver a partial release of the lien created herein against any property located within the Project upon
payment by Owner of that portion of such fees which bears the same ratio to the then remaining unpaid
balance of such fees as the acreage of land to be released bears to the total acreage of land utilized to
compute the amount of the required fees. Upon request of Owner, the City will by written agreement,
subordinate the lien created hereby to any mortgage, deed of trust or other security device required to
secure the payment of any loan or advance made to Owner for the sole purpose of financing the
construction of improvements upon the subject property; provided however that the financing institution
entity shall first warrant and represent in writing that it understands that the contemplated loan or advances
will be used solely for the construction of improvements upon the land and that it will take reasonable
precautions usual and customary to the financing and lending industry to ensure that the loan proceeds or
advances will not be used for any other purpose.Any prepayments made pursuant to this provision shall be
applied in inverse chronological order against the regularly scheduled payments set forth herein, and such
payment shall not release Owner of any obligation to make the next regularly scheduled payment.
Default. In the event Owner fails to comply with the terms and conditions hereof in any material respect,
the City may,without further notice to Owner, exercise any or all of the following remedies.
A. Withhold the issuance of any building permit or certificate of occupancy of any structure located
within the Project;
B. Withhold the connection of water, sewer or electric service to any property located within the
Project;
C. Refuse to accept public ownership and maintenance of public improvements within the Project and
record a notice of such action with the Ada County Recorder's Office;
D. Issue a stop work order for any building under construction within the
Project;
E. Withhold reimbursement of Project surety/financial guarantee of performance collected pursuant
to Section 9-4-2-2 of the City Code;
F. Bring an action for damages, injunctive relief, specific performance or any
other remedy available at law or in equity;
All of the above remedies are cumulative and to the extent not wholly inconsistent with each other,
may be enforced simultaneously or separately,at the sole discretion of the City.
Effective Date. This Development Agreement shall be effective upon the signing and execution of this
agreement by both parties.
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Authority to Enter Into Agreement: By the execution and delivery of this Agreement by the parties,and
the performance of their covenants and obligations therein,the parties acknowledge such action has been
duly authorized by all necessary corporate(or LLC)action,and necessary corporate(or LLC)resolution(s)
have been executed for the undersigned representatives to sign this Agreement and so bind their respective
parties.
IN WITNESS WHEREOF,the parties have executed this Development Agreement Modification.
DATED this"f day t14,Li; ;2013.
so.O R A T<c,I. CITY OF EAGLE,a municipal corporation organized
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a C, ;* and 1 isting under the law f the State of Idaho
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By:
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• po.�; Ate J. es D.Reynolds,Mayo
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ATTEST: ',lig/novo '
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Sharon K.Bergmann,City Cler
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Owner:
Lazarus,L
By:
Douglas / egg,Manager
STATE OF IDAHO ):ss.
County of Ada )
On this ' day of /(,(G1'l ,2013,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.
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STATE OF IDAHO )
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County of Ada )
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On this day of [---E c� U of •J' 2013,before the undersigned notary public in and for
the said state,personally appeared DOUGLAS B LEGG,known or identified to me to be a the Manager
of Lazarus, LLC,the owners of the property referenced herein and the person who executed the foregoing
instrument.
IN WITNESS WHEREOF, I have hereunto set my hand and seal the day and year first above
written.
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Exhibit "B"
CONCEPTUAL SITE PLAN FOR `' P 2 0 2012
LIONS GATE SUBDIVISION R ute—t �.�,
LOCATED IN A PORTION OF THE W 1/2 OF THE NE 1/4 OF �" "" =
SECTION 7,T.4N,R.1E,BOISE MERIDIAN.
CITY OF EAGLE,ADA COUNTY,IDAHO
RETAN AND PROTECT 7001140
PROPOSED 20'TARE ACID CANAL.(NEW DRY CREERT
01THT-Cf-WAY
30'NN.TAM LANDSCAPE W.FLOKANC FEATH
BOETE R LOT ADSACEH0 TO —..———�— —— RO-,—__—_.—`.
W.R.OAINO FEATRR RD
NEW 0(11 CREEK CANAL 24
7
/_ 1A1 ACRES
PROPOSED D.SIDEWALK!
ON 811.1111 510E aF
CANAL(OUTSIDE OF NEW
DRY CUM EASEMENT) J ,.PROPOSED RA' 440 0705 4
S83 At RN]fi-OF NIiM y0E19AUL IN
LOT v Lot n abs AWtl LOT ZS
LOT m 37181 SW 37113 sr*
37116 1i# EAYYENT OR ON COMM LOT
!1.07 20 0.85 00805 OAS Apps 065 AWES
0.48 AWES
BLOCK 1
......—PROPOSED 22'847E ADEL
PROPOSED RIGHT-CF-WAY 8815 SIDEWAY N
EASONSIT OR EN=NON LOT
MAO I
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/ 03ACRES
3Y WOE LAN0SCME
BIFIER LOT ADJACENT TO
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0.03 Ames I L70 28
IOD18 ACRES
tofu ��,, 0.39 ACRES
27L.000$T f 37070 WI 37011 5r6 < �. 1 \
41 041 AWES 0.65 ACRES O66 ACRES W
!) 1000 I
BLOCK 1 a 0.11371 SF/
KKRE9 1 I
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LOT II ///PROPOSE()STREET CONAE0110N TO N.
37052 I Iz I /BAILANIYNE IS APPRO7(349'N OF
0.85 ACRES �1..- !// BOODYEADOW ST(330'NN.
BLOCK 1 _W,110N5CAlE ST SEPARATOR DOMED)
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1 LOT 10
00.e5�A 6$ LANDSCAPED J
LOT 16 I ISLAM W
37162 SF#
6.63 A4145 Lor 2
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37)36 Y'a I Ky�31 ass Ar�ES q
0.66 AWES OJ<
Ig 137
0 37044 19r* z
an ACRES LOT 1
///19661 57*
PROPOSED 0.40 ACRES
LANDSCAPED I
MAW 177 S '
37002714# LOT 16 I 085 AL11L5 370 Ada
sa E I W,WOODM£ADOW ST
0.87 ACRES
BLOM 1
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//3S'WOE LANDSCAPE
V 31851 Y! / II 1311/TER 0UNWNE 111 ADJACENT TO
0.87 ACM
PROPOSED
LOT LEO 1
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*j`� 0.80 ACRES
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LOT b ywwpc s
SCALE(FT) 38412 Sri liKes
0.88 ACAFS
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