Reimbursement - 2003 - Settlement/City Of Eagle V. Vaughn Olson - 7/22/2003AGREEMENT FOR THE REIMBURSEMENT OF THE
COST OF ACQUIRING THE OLSEN PROPERTY
This Agreement for Reimbursement (hereinafter "Agreement") is entered into this ,2,26ael
day of July, 2003, by and between the City of Eagle, a municipal corporation of the State of Idaho,
located in Ada County, Idaho, and having the address of 310 E. State Street, Eagle, Idaho 83613
(hereinafter the "City"), and Eagle River, LLC, an Arizona limited liability company, whose
mailing address is c/o Clark Development, 479 Main Street, Boise, Idaho 83702 (hereinafter "Eagle
River").
RECITALS:
WHEREAS, the City, as a municipal corporation duly incorporated under the laws of the
State of Idaho, has the power to condemn real property pursuant to Section 7-701, et. seq., Idaho
Code; and
WHEREAS, City has reached a settlement in"its efforts to acquire through condemnation
the Olson property located in Ada County, Idaho and described in the Complaint filed April 1,
2002, in City of Eagle v. Vaughn Olson, et al, Case No. CV -OC -0202460D (Fourth Judicial
District) and incorporated herein by reference, (hereinafter "Property"); and
WHEREAS, the City and Eagle River have previously entered into an Exchange Agreement
and Joint Closing Instructions (the "Exchange Agreement"), dated July 1, 1998; and
WHEREAS, the City and Eagle River have previously entered into a Development
Agreement, dated January 25, 2000, through which the parties extended the Exchange Agreement;
and
WHEREAS, Eagle River, pursuant to the Exchange Agreement, agreed to reimburse the
City for the cost of acquiring the Property subject to the terms and conditions set forth below.
AGREEMENT:
NOW, THEREFORE, IT IS AGREED AS FOLLOWS:
Section 1. Reimbursement Price. Eagle River agrees to reimburse the City the cost of
acquiring the Property, payable on or before August 1, 2003, with no interest accruing thereon. The
parties agree that the fair market value of the Property, and the amount to be reimbursed, is
$42,000.00.
Section 2. Clearance of Title. Eagle River agrees that it will relinquish any claim on
the title to the Property it or Charing Cross may have. The City agrees that upon acquisition of the
deed to the Property, it will take all steps necessary to clear the title to the Property at its own cost.
PAGE 1 - AGREEMENT FOR THE REIMBURSEMENT OF
THE COST OF ACQUIRING THE WELLS PROPERTY
Section 3. Obligations under the Exchange Agreement. The parties agree that the
execution and fulfillment of this Agreement and execution of the necessary documents to quitclaim
any interest Eagle River, LLC and Charing Cross have in the Property to the City shall complete
and fulfill all obligations Eagle River had to perform under paragraphs 2.1 and 2.2 of the Exchange
Agreement. Eagle River has no further obligations or duties with respect to the Property.
Section 4.
Property.
Possession. The City shall, at all times, be entitled to possession of the
Section 5. Successor Interests. This Agreement shall be binding upon and inure to the
benefit of the parties, their successors and assigns.
Section 6. Survival of Covenants. Any covenants the full performance of which is not
required prior to the closing or final payment of the purchase price shall survive the closing and the
final payment of the purchase price and be fully enforceable thereafter in accordance with their
terms.
IN WITNESS WHEREOF, the parties hereto have exercised this instrument the day and
year first above written.
THE CITY OF EAGLE, IDAHO EAGLE RIVER, L.L.C., an Arizona
limited liability company
By: ( (
Nancy C. Met► 1, Mayor
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PAGE 2 - AGREEMENT FOR THE REIMBURSEMENT OF
THE COST OF ACQUIRING THE WELLS PROPERTY
By:
Charles Carlise,
Authorized Signatory
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FILE COPY
ADA COUNTY RECORDER J. DAVID NAVARRO
BOISE IDAHO 12/22/03 ,I AM 4
DEPUTY Bonnie 0berbh.
RECORDED—REQUEST OF 111
IIIIIIIIIIIIIIIIIIIIIIIIIIIII I I III
Moore Smith Buxton & Turcke
AMOUNT 12.00 1032e8949
QUITCLAIM DEED
FOR VALUE RECEIVED AND ACKNOWLEDGED BY THE PARTIES, Vaughn
Olson and Katie Olson, as Co -Trustees of the Janet B. Wells Boise River Trust, Grantors, do
hereby dedicate, convey, release, remise and forever quit claim unto the City of Eagle, Idaho, a
municipal corporation, Grantee, the following described property located in Ada County, State of
Idaho, together with their appurtenances as follows:
A parcel of land being a portion of Government Lot 3 in Section 16, T.4N., R.1 E.,
B.M., City of Eagle, Ada County, Idaho being described as follows:
COMMENCING at a brass cap monument in Eagle Road (State Highway No. 55)
marking the northwesterly corner of said Section 16 as shown on Record -Of -
Survey No. 3021 recorded in Ada County as Instrument No. 9498747, said corner
being located N.00° 55'47"E., 2640.78 feet from an aluminum cap monument
marking the west 1/4 corner of said Section 16; thence,
3) S.00° 55'47"W., 1944.09 feet along the westerly boundary line of said
Section 16 to a point; thence leaving the westerly boundary line of said
section 16,
4) S.89° 04' 13"E., 110.00 feet to a point on the easterly right-of-way of line
of Eagle Road, said point also lying on the mean high water line of the
Boise River; thence leaving the easterly right-of-way line of said Eagle
Road and running along the said Mean High Water line,
5) S.68°01' 10"E., 437.15 feet; thence,
6) S.37°59'37"E., 103.26 feet; thence,
7) S.37°59'37"E., 307.35 feet; thence,
8) S.63°58'50"E., 137.78 feet; thence,
9) 5.79°16'40"E., 146.88 feet; thence,
10) 5.60°55'56"E., 63.45 feet; thence,
Quitclaim Deed - Page 1
ORIGINAL
11) S.75°50'41"E., 86.52 feet; thence,
12) S.81°53 ' 01 "E., 144.30 feet to the POINT OF BEGINNING, thence
leaving the said Mean High Water line of the Boise River.
1) N.00°51'29"E., 390.10 feet; thence,
2) N.85°47' 19"E., 206.65 feet; thence,
3) N.84°09'38"E., 821.23 feet to a point on the Mean High Water line of the
Boise River as established by Record of Survey No. 155, dated August 29,
1980; thence,
4) S.61°46'58"W., 69.71 feet; thence,
5) S53°02'37"W., 82.01 feet; thence,
6) S.50°58'24"W., 182.42 feet; thence,
7) S.51°10'15"W., 57.67 feet; thence,
8) S.51°34'09"W., 189.11 feet; thence,
9) S.63°57'47"W., 134.37 feet; thence,
10) S.62°31'29"W., 144.75 feet; thence,
11) S.80°44'49"W., 81.08 feet; thence,
12) S.64°33'01"W., 29.56 feet; thence,
13) N.88°08'49"W., 150.53 feet; thence,
14) N.81°53'01"W., 61.47 feet to the POINT OF BEGINNING.
This parcel is shown on a map attached hereto and incorporated herein by reference as
Exhibit A.
DATED this /4 day of December, 2003.
Quitclaim Deed - Page 2
By: Vaughnlson
/ia,' 62‘eal_
By: Katie Olson
Quitclaim Deed - Page 3
STATE OF IDAHO )
. ss.
COUNTY OF ADA )
On this 1 day of December, 2003, before the undersigned notary public in and for the
said state, personally appeared VAUGHN OLSON, as Co -Trustee for the Janet B. Wells Boise
River Trust, known or identified to me to be the person who executed the foregoing instrument
and acknowledged to me that she 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
COUNTY OF ADA
IPAd
otary )i blic for Idaho
Residing at: R1i‹.
My Commission Expires: CC
On this 1E4 day of December, 2003, before the undersigned notary public in and for the
said state, personally appeared KATIE OLSON, as Co -Trustee for the Janet B. Welts Boise River
Trust, known or identified to me to be the person who executed the foregoing instrument and
acknowledged to me that she executed the same.
IN WITNESS WHEREOF, I have hereunto set my hand and seal the day and year first
above written ,o "� ,t..,``�
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Quitclaim Deed - Page 4
ilarti,„,
No . ublic for Idal jo
Residing at: 40744.4.
My Commission Expis:
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