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HomeMy WebLinkAboutSatisfaction Development Agreement - 94-38371*November 1, 2016 Jackson County Official Records 2016-036141 R -RAG Sin=O BARROWKL 11/01/2016 03:38:14 PM $10.00 $20.00 $5 00 $4.00 $11.00 $5.00 $63.00 $8.00 I, Christine Walker, County Clark W Jaoksan County, Oregon, certify Mat Me Instrument klendflad humin was moorded in Ma Ciark Worst- Christine Walker - County Clerk CENTRAL POINT SATISFACTION OF DEVELOPMENT AGREEMENT For Castle Court Condominiums Central Point Be it known by all present that the undersigned does hereby certify and declare that certain obligations filed against the property listed below and attached to this release and showing the filing number of said records in the office of the County Clerk of Jackson County, State of Oregon. Satisfaction of original Development Agreement, between the City of Central Point and Redha Corporation entered into on October 19, 1994. City of Central Point, November, 2016 Property located in the Township 37, Range 2W of the Willamette Meridian, Lot 13 & 14 of Pittview Subdivision Recording Number: 94-38371 Recording Date: October 26, 1994 Matt Samitore City of Central Point STATE OF OREGON ) )ss. County of Jackson ) Date On the day of November, 2016, personally appeared before me the above-named, Matt Samitore, and acknowledged the foregoing instrument to be the voluntary act and deed of the City of Central Point. OFFICIAL911AMP CYNTHIA A YYElH(!< Notary Public for Oregon NOTA PUBUC-MGON My Commission Expires: Chloro/au COMMISSION NO. 950992 IY COtM UON EIFM JUNE HL 2020 94-383'71 DEVELOPMENT AGREEMENT (Castle Court Condominiums) 11 3� '41S,06 This agreement, made and entered into this day of �%,�, , 1994, by and between the City of Central Point, Oregon, an Oregon municipal corporation, hereinafter referred to as "City", and Redha Corporation, hereafter referred to as "Developer". Recitals 1. Developer has previously been granted site plan approval for the Castle Court Condominium project, as set forth in Planning Commission Resolution No. 280, which approval is subject to certain conditions. 2. Developer and City wish to enter into an agreement whereby Developer agrees to construct the improvements required under the site plan approval, and to secure performance of the agreement in a manner satisfactory to the City. Upon execution of such agreement, Developer would be allowed to obtain certificates of occupancy for those condominium units which have already been built. Now, therefore, in consideration of the covenants herein exchanged, the parties agree as follows: Agreement 1. PROPERTY AFFECTED. This agreement affects the following -described real property, which is commonly known as the Castle Court Condominium project: Lot 14 and the East one-half of Lot 13, PITTVIEW SUBDMSION according to the official plat thereof now of record in Jackson County, Oregon, being more particularly described as follows: Commencing at the Northwest comer of Donation Land Claim No. 58, Township 37 South, Range 2 West, Willamette Meridian, Jackson County, Oregon; thence along the North line of said claim No. 58 and the North Line of PITTVIEW SUBDMSION, South 89°56'30" East 780.85 feet to the true point of beginning; thence continue South 89°56'30" East 467.77 feet to the Northeast comer of said PITTVIEW SUBDMSION; thence South 00°02'39" East 762.97 feet along the Fast line of said PPITVIEW SUBDMSION io the Southeast comer of said Lot 14; thence along the line of Lot 14 and the East one-half of Lot 13 North 89°51'44" West 468.05 feet to the West line of t ooe-half of said Lot 13; thence along said line North 00°01'25" West 761.37 feet to the true point of IV 1 — DEVELOPMENT AGREEMENT (093094) 94-38371 This agreement shall be recorded, and is intended to attach to, and shall run with the land. In addition, all subsequent purchasers and Developer's heirs, successors and assigns shall be bound by this agreement. 2. CONSTRUCTION. Developer shall construct or cause to be constructed, at Developer's own expense, the improvements, described in and in compliance with, the following: A. The site plan previously approved for the project, including all conditions placed on such site plan approval; B. Central Point Planning Commission Resolution No. 280, dated March 8, 1994; C. All construction plans and specifications; D. Terms and conditions contained in the City's Public Work Standards; E. Terms and conditions contained in the Construction Permit; F. All terms and conditions set forth herein; and G. Any applicable provisions of the Central Point Municipal Code. 3. SECURITY FOR PERFORMANCE. In connection with this agreement, Developer shall also submit to City, to assure the full and faithful performance of all obligations hereunder, one of the forms of security approved under Central Point Municipal Code Chapter 16.12.080. Developer has chosen the following: surety bond cash deposit XXX letter of credit The sum agreed to secure Developer's performance hereunder is $24,223.17, which sum is hereby deemed sufficient to cover the cost of the improvements and repairs, including related engineering and incidental expenses, administrative expenses, inflationary costs, and the cost of city inspections. 4. TIME ALLO FOR CONSTRUCTION. Developer shall complete each and every obli ation contained herein within One year from the date of the execution of this agreement. Said period may, in the sole discretion of City be extended, in writing, for a reasonable time thereafter. In the event that City extends the 2 - DEVELOPMENT AGREEMENT (093094) 94-38371 time for completion, the City may also, in its discretion, require an increase in the amount of security for performance of the project, whether it be by surety bond, cash deposit or letter of credit. 5. REMEDIES UPON BREACH. In the event that Developer shall fail, in any way, to perform the obligations required herein, City shall have all remedies available under local, state and federal law, including, but not limited to, completing or causing completion of all obligations hereunder and proceeding against Developer, his letter of credit, his cash deposit or his bond for recovery of the costs of said completion. Such costs shall include all costs and expenses described herein. 6. INSPECTION OF WORK. Developer shall provide access to City to conduct inspections, including, but not limited to, the following: a. Inspection and testing of all storm drainage, sanitary sewer pipe, water pipe and fire hydrants; b. T.V. inspection of all sanitary sewer and storm drainage pipes; C. Inspection and testing of trench backfilling for water pipes, storm drains and sanitary sewers; d. Inspection and testing of subgrade prior to placing street rock base; e. Inspection and testing of base rock prior to placing surfacing; f. Inspection and testing of the placement of the surfacing material; g. Inspection and testing prior to placing any concrete; h. Inspection of other construction within public right of way or easement dedicated or to be dedicated. 7. COSTS OF ADMINISTRATION AND INSPECTION. Developer agrees to pay Cityr the costs of administration and inspection of the project toextent that the same are reasonably related to City's assuring ompliance with the plans and specifications, the Central Point Municipal Code, the within agreement, and all other applicable standards, rules, regulations and laws, which sums shall be due on a monthly basis and shall be paid within 10 3 - DEVELOPMENT AGREEMENT (093094) 94-38371 days of billing. Failure to pay such sums shall be grounds for withholding acceptance of completed work and/or proceeding against Developers' security for performance. Such administration and inspection costs shall include, but not be limited to the following: a. All inspections and testing done pursuant to the previous paragraph, entitled "Inspection of Work". b. Meetings with Developer, project engineer or contractor to review project, City standards, specifications, ordinances and procedures. c. Providing Developer, Developer's representative or any jurisdictional, governmental, or utility entity with information on existing conditions, facilities, and capital improvements required. d. Reviewing all construction drawings, engineering or specifications for the construction of, or modification to the construction of, the improvements. e. Reviewing existing as -built information to assist in determining the location of existing facilities. f. All costs of application review and processing, including, but not limited to, administrative and legal staff time costs, plan checks, construction inspection and preparation of agreements, to the extent that the same are in excess of the filing fee. 8. ACCEPTANCE OF COMPLETED WORK. Upon completion of the improvements in full compliance with the tentative plan previously approved for the project, all conditions placed on tentative plan approval, all construction plans, construction specifications, terms and conditions contained in the City's Public Works Standards, terms and conditions contained in the construction permit, together with all terms and conditions set forth herein and any applicable provisions of the Central Point Municipal Code, the Public Works Director, or his designee, shall perform an inspection. If all work is found to be satisfactory, and all deficiencies, if any, have been cured by Developer, the Public Works Director shall issue a written acceptance of completed work. Upon such acceptance, the City Administrator shall be authorized!to release any surety bond, cash deposit or letter of credit posted by Developer. 9. GUARANTEE OF WORK. Developer guarantees, for a period of two years from acceptance of completed work, that all improvements hereunder shall be free from defects in materials and workmanship. Prior to the expiration of said warranty period, City shall determine if any materials or workmanship 4 - DEVELOPMENT AGREEMENT (093094) 94-38371 deficiencies exist, and at City's request, Developer shall repair or cause the repair of all such deficiencies. In the event there are no deficiencies, or upon approval of any necessary repairs, City shall issue a written document certifying Developer's satisfactory completion of warranty. 10. BUILDING AND OCCUPANCY PERMITS. Upon execution of this agreement and upon satisfaction of the security for performance requirements of Central Point Municipal Code 16.12.080, City may issue building permits to Developer concurrently with construction work upon the improvements themselves, under the following terms and conditions: a. Developer must, prior to commencing construction under any such building permits, or allowing the commencement of construction thereunder, furnish a survey performed by a registered professional land surveyor meeting the requirements of state law, setting out the property corners for the lot for which the building permit or permits are to be issued, with either iron pins or wood stakes establishing said corners. b. Developer must submit a plan for the protection of streets and improvements satisfactory to City, and shall assume all responsibility for any additional or corrective work that may be necessary to the improvements, as determined by City as a result of the construction performed under the building permits authorized. c. Developer must indemnify and hold the City harmless from any and all liability by reason of the issuance of any such building permits or any injuries or damages incurred by any person by reason of construction under the permits or any claims of any sort arising out of the issuance of the building permit and construction performed thereunder. d. Developer shall not sell any of said lots or enter into any agreement for the sale of any such lots, unless he has first furnished to the City written proof of the fact that he has advised a purchaser or prospective purchaser that no certificate of occupancy will be issued by City until completion, approval and acceptance of the improvements by the City, in accordance with the entire Development Agreement, and agree to assume full and complete liability and hold City harmless by reason of the refusal by the City to issue any such certificate of occupancy until the provisions`of the Development Agreement and Central Point Municipal Code Chapter 16.36 shall have been met. e. Neither Developer, nor any person on his behalf, shall allow another person to occupy any lot or improvements thereon until City has issued a certificate of occupancy. 5 - DEVELOPMENT AGREEMENT (093094) 94-383'71 11. HOLD HARMLESS AND INSURANCE. Developer agrees to hold harmless City and its duly elected and appointed officials, employees, agents and assigns from any and all liability or responsibility by reason of any omissions, errors, or deletions on the plans and specifications for the improvements or the construction thereof, and shall indemnify the same against any such liability or responsibility. Developer shall obtain and maintain a policy of liability insurance coverage with policy limits in the sum of not less than one million dollars ($1,000,000.00) combined single limit, naming City and its duly elected and appointed officials, employees, agents and assigns, as insured parties therein. 12. MISCELLANEOUS PROVISIONS. This agreement contains the entire agreement to which it relates and supersedes any prior written or verbal agreements or representations; this agreement shall be binding upon the parties and their agents, successors and assigns; Developer shall not assign his rights under the terms of this agreement without the express written approval of City. In the event either party institutes legal proceedings for the purpose of enforcing the within agreement or seeking damages for the breach hereof, or to recover the cost of completion of the improvements described herein, including an action against Developer, his bond, cash deposit or letter of credit, the prevailing party shall be entitled to recover attorney fees and costs incurred at trial and on appeal in reasonable sums to be determined by the respective courts. EXECUTED IN DUPLICATE, each party retaining an original. City of Central Point, Oregon BY (�v%9/� Maydr Roger Westensee Authori zr rpreseAtative STATE OF OREGON Developer Redha Corporation Ben Zare', President of Redha Corporation ss. County of Jackson ) On the _1(? day of 1�t,Piri , 1994, before me personally appeared Roger Westensee and SA�1Db /-0M M E1 - who, being first duly sworn, each for himself And not for the other, did say that the former is Mayor of the City of Central 6 - DEVELOPMENT AGREEMENT (093094) 94-38371 Point, and the latter is t City of Central Point, an the foregoing instrument w corporation by authority o acknowledged the foregoing act and deed. OFFICIAL SEAL C!:Cr;Ll a t.:. OOst:DON .'; N07ARYPL'dLIC-OREGON COMMISSiCN N0.021206 MY COMMISSION EXPIRES MAR. 06.1997 STATE OF OREGON ) ) ss. County of Jackson ) he 4g/rUj5QREA@E5LwA)r4Tik6f the Oregon municipal corporation, and that as signed on behalf of said municipal f its City Council, and each of them instrument t�opbe� �his or her voluntary l�[.(i(.GW / r l Notary Public for Oregon My Commission Expires: On the // day of L "4 , 1994, personally appeared before me the above-named Ben Zare', President of Redha Corporation, and acknowledged the foregoing instrument to be Redha Corporation's voluntary act and deed. OFFICIAL SEAL SANDY J. LOMMEL Notary�Pu / c f� Oregon NOTARY PUBLIC NO. OREGON My Commission Expires: COMMISSION O..A009395 — W'MYCOMMISSIONEXPIRESNOV 8,1995 7 - DEVELOPMENT AGREEMENT (093094) 94-383'71 October 10, 1994 LETTER OF CREDIT NO. 112 001-110985-90002 To: The City of Central Point We hereby open our irrevocable Letter of Credit in your favor for the sum or sums not exceeding the total amount of $24,223.17. This Letter of Credit is issued at the request and for the account of our customer(s), Redha Corporation. The Letter of Credit is available to you only upon: 1. Your sight draft for any sum not exceeding the face amount of this Letter of Credit. 2. Your statement executed by the City Manager or City Attorney of the City of Central Point, Oregon certifying: The undersigned hereby certifies that Redha Corporation, defaulted under their obligation to construct those improvements described in that certain agreement between Redha Corporation, and the City of Central Point, dated October 10, 1994, which agreement concerns, Castle Court Condominium Project. Each draft must bear on its face the clause, "Drawn under Letter of Credit No. 112, dated October 10, 1994, of Bank of Southern Oregon. THIS LETTER OF CREDIT EXPIRES AND IS VOID UNLESS DEMAND IS MADE HEREUNDER ON OR BEFORE OCTOBER 10, 1995, AT BANK OF SOUTHERN OREGON, 1455 EAST McANDREWS ROAD, MEDFORD, OREGON 97504. 1455 Fast McAndrews • Medford, Oregon 97504 • (503) 776-7480 94-383'71 Letter of Credit No. 112 October 10, 1994 Page Two We hereby agree that any draft(s) drawn under and in compliance with this Letter of Credit, and before the expiration date of October 10, 1995, will be duly honored so long as the amount(s) thereof do not exceed the total credit extended. Very trul yours, Charles A. Dodd v Vice Pres./Credit Admin.