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RecDoc 2021-108252 1548 Maple Street
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RecDoc 2021-108252 1548 Maple Street
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Last modified
3/29/2023 11:16:19 AM
Creation date
8/25/2021 2:50:58 PM
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Recorded Docs
Recorded Docs - Type
Agreement
Subject
Subdivision Improvement Agreement
Doc Num
2021-108252
Rec Date
7/21/2021
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the time of commencement of the Abatement Force Maieure Event, but only if written <br />Agreement. The City shall reasonably cooperate with the Developer in efforts to end the <br />Abatement Force Maieure Event. <br />B. Subject to the credits and reimbursements described in the First <br />Amendment, if by the County Segment Outside Date City his unable to obtain the County <br />Authorization and complete the Abatement Work or, ii Developer, despite its best efforts, <br />is unable to obtain the Non -County Authorizations, then Developer, at its sole option, in <br />lieu of constructing the Blomquist Work, may pay to City the County/Developer Segments <br />In Lieu Payment (defined below) which represents the Parties' good faith estimate of the <br />hard costs of constructing the Blomquist Improvements. Developer shall remain obligated <br />to construct the Blomquist Work until the date that Developer makes the <br />County/Developer Segments In Lieu Payment. The "County/Developer Segments In Lieu <br />Payment" shall initially be in the amount of TWO MILLION ONE HUNDRED TWENTY <br />THREE THOUSAND SIX HUNDRED FOURTEEN DOLLARS AOS ($210R P1A%TWO <br />EIGHT DOLLARS ($2.371.538), provided such amount shall be increased on January 1, <br />202423, and on January 1St of each year thereafter based on increases in the Default <br />Escalator over the prior one-year period. Upon payment of the County/Developer <br />Segments In Lieu Payment and transfer of the Developer Work Product to City as <br />provided in this Section 3.5.6 below, Developer shall have no further obligation to <br />construct the Blomquist Work and City shall promptly release to Developer that portion of <br />the performance and labor and materials bonds or other improvement security which <br />Developer has provided to City to secure construction performance and payment of <br />laborers and materialmen with respect to such Blomquist Work. Notwithstanding any <br />other provision hereof to the contrary, the inability of Ua City to obtain the County <br />Authorization and complete the Abatement Work orbb Developer, despite its best efforts, <br />to obtain the Non -County Authorization by the County Segment Outside Date or <br />Developer's exercise of its option to pay the County/Developer Segments In Lieu <br />Payment shall not release Developer from its obligations to (i) convey to City a public <br />right-of-way easement with respect to the Blomquist — Developer Segment, (ii) construct <br />or cause the construction of the Blomquist — City Segment, including the Alternative <br />Offsite Water Line, or (iii) produce and deliver to City construction and engineering <br />drawings in forms acceptable to City for the entirety of the Blomquist Street Extension, <br />including the Blomquist — Developer Segment and the Blomquist — County Segment. <br />ATTY/AGR/AMEND, NOA/FIRST AMENDMENT TO SUBDIVISION IMPROVEMENT AGREEMENT <br />REV: 02-03-23 VR <br />Page 4 of 10 <br />
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