Development Agreement - 2013 - Ashbury Subdivision DA MOD - 11/20/2013 ADA COUNTY RECORDER Christopher D. Rich AMOUNT .00 4
BOISE IDAHO 11/21/13 08:03 AM
DEPUTY Bonnie l III IIIIIIIIIIIIIIIIIIIIIIIIIIIIII I III
RECORDED—REQUEST OP F
Recording Requested By and Eagle City 1131 26937
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 Smith Brighton, Inc., ("Owner").
WHEREAS,the Owner is the owner of record of certain real estate consisting of approximately
111.11-acres generally located on the west side of S. Meridian Road and the north side of W. Chinden
Boulevard(Highway 20/26)approximately 835-feet west of S. Meridian Road,and identified in the Ada
County Tax Records as parcel#S0424417200("Property"), as specifically defined in Development
Agreement recorded under Instrument No. 110108891; and
WHEREAS,the proposed development agreement modification includes properties within an area
currently zoned MU-DA; and
WHEREAS, all provisions with the Development Agreement recorded under Instrument No.
110108891, records of Ada County, Idaho, are in, and shall remain in full force and effect, except that,
condition of development 3.7 and 3.8 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. 110108891, records of Ada County, Idaho, the modification is agreed to as
follows:
ARTICLE I
MODIFIED CONDITION OF DEVELOPMENT
3.7 The 110+/-acre site of the Property shall consist of approximately 107-acres of residential
use(single-family and multi-family units)and approximately 5.0-acres of non-residential
uses as described below.
3.8 Dimensional standards and respective setbacks within the Property shall be as follows:
Patio Homes:
Front: 15 feet-living area/20 feet garage
Rear: 15 feet
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Side: 5 feet
Street Side: 15 feet
Maximum lot coverage 60%
Three(3)Units Per Acre:
Front: 20 feet
Rear: 20 feet
Side: 5 feet(additional 2.5 feet per story)
Street Side: 20 feet
Maximum lot coverage 40%
Two(2)Units Per Acre:
Front: 25 feet
Rear: 20 feet
Side: 7.5 feet, (additional 2.5 feet per story)
Street Side: 20 feet
Maximum lot coverage 40%
One(1)Unit Per Acre:
Front: 35 feet
Rear: 30 feet
Side: 15 feet
Street Side: 30 feet
Maximum lot coverage 35%
ARTICLE II
GENERAL MATTERS
Enforceable Provisions. The original Development Agreement recorded under Instrument No. 110108891,
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.
Financial Assurance. In addition to the other remedies afforded Eagle herein, Owner agrees to provide
adequate financial assurance to Eagle, to secure the payment of any deferred balance of the attorney fees and
the engineering fees,together with interest accrued thereon. Eagle shall provide to the Owner an estimate for the
anticipated attorney fees and engineering fees associated with this Agreement. The Owner shall provide a cash
deposit, letter of credit or a bond in the amount of the estimated fees associated with the work undertaken
pursuant to the terms of this Agreement. Thereafter, Eagle shall bill Owner for such fees,adjusting the estimates
as appropriate. The Owner shall make payments for such fees as incurred by Eagle and as invoiced to the Owner
or, if Owner has made a cash deposit with Eagle, Eagle may draw on the deposit to pay its invoice. If the
financial assurance deposited by Owner is in the form of a letter of credit, and if the Owner fails to make
payment for such fees when actually incurred by Eagle and invoiced, then following thirty(30) days of written
notice of such failure from Eagle, Eagle may draw upon the financial assurance provided by the Owner.
Thereafter,if the then current estimated fees still to be paid exceeds the amount of the then current balance of the
financial assurance(whether it be in the form of a cash deposit or a letter of credit),the Owner shall replenish the
financial assurance and shall become current as to all outstanding fees owed. Upon payment in full of all
attorney fees and engineering fees,Eagle shall release to the Owner the unused portion of the cash deposit or the
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letter of credit,as applicable. . Eagle's draw upon the financial assurance under this Section shall not preclude it
from exercising any of the other rights and remedies afforded it in Article II,Default(shown below).
Default. In the event Owner fails to comply with the terms and conditions hereof in any material respect,
the City shall provide written notice to Owner specifying the default. Owner shall have thirty(30)days
after its receipt of written notice from the City to cure the default;provided that if the default is of a nature
that it requires more than thirty(30)days to cure,and Owner is diligently pursuing such cure,Owner shall
have a reasonable time to cure, which in no event shall exceed ninety(90)days. If Owner fails to cure such
default within the timeframe provided herein,the City may 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 8.6 of this Development Agreement and 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.
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 dO day of hrilt4e r ,2013.
CITY OF EAGLE, a municipal corporation organized
an• existing under the 1. s of the State of Idaho
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Owner:
Smith Bri ten,Inc.
////
By
Davi��e'. Sul ,President
STATE OF IDAHO )
: ss.
County of Ada )
On this '4 0 4 day of L l lr∎ f, 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.
Notary Public for Idaho,, ��
• Residing at: )44"�, I
My Commission Expires: —1 41Z,
>,a
STATE OF IDAHO )
: ss.
County of Ada )
On this( &iday of 1duPI , 2013,before the undersigned notary public in and for
the said state,personally appeared DAVID W. TURNBULL,known or identified to me to be the President
of Smith Brighton, Inc.,the owners of the property referenced herein and the person who executed the
foregoing instrument.
IN WITNESS WHEREOF, I have hereunto s, y ha d seal the day and year first above
written.
Notary Public for Idaho
�
AMANDA K. SCHAUS Residing at: (S'fh
NOTARY PUBLIC My Commission Expires: L I.17
STATE OF IDAHO
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