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HomeMy WebLinkAboutWashington Industrial Properties Deferral Agreement ID #113720121FILED FOR RECORD AT REQUEST OF: City of Pasco, Washington AFN # 1822636 PRAG 1210512014 01:54 PM WHEN RECORDED RETURN TO: 5 Page(s) S76.00 Matt Beaton, Auditor City of Pasco Franklin co.. WA City Engineer 525 North 31 Pasco WA 99301 Tax Parcel No.: 113720121 DEFERRAL AGREEMENT FOR INFRASTRUCTURE IMPROVEMENTS THIS DEFERRAL AGREEMENT entered into this 94 day of 0C-r6?1�0607 , 2014, by and between the City of Pasco, Washington, a municipal corporation, hereinafter referred to as "City", and Washimton Industrial Properties -Pasco L.L.C., a Washington limited liability company, hereinafter referred to as "Owner." WHEREAS, the City is obligated under the State Growth Management Act to ensure that the City's transportation and utility systems will be adequate to serve current and future development, without causing the level of service to decline below the standards established by the City resulting in each development being required to construct that portion of the transportation and utility infrastructure as may be necessary to serve that property at the time of permitting; and WHEREAS, Owner is the record owner of the real property located within the City of Pasco, Washington, legally described as follows: Binding Site Plan 2014, Lot 1 WHEREAS, Owner has sought the approval of a development permit for such property which would include the construction of infrastructure improvements as required by PMC 12.36.050 described hereinafter; and WHEREAS, the Owner has requested a deferral of such improvements and the Director of Public Works for the City has determined that the installation of improvements required for the development could be safely, effectively, and efficiently implemented if done concurrently with the installation of improvements required for other developments in the same vicinity; and Deferral Agreement - 1 WHEREAS, as a condition of granting this deferral of improvements, the Owner agrees to install such improvements within the deferral period as provided below, or by participating in a local improvement district, or other similar type of district formed by the City for the construction of these improvements. NOW, THEREFORE, in consideration of the mutual covenants contained herein, it is agreed as follows: 1. The City hereby defers the installation by the Owner of the following described improvements affecting that real property described above: Curb & gutter, storm drainage facilities, street lighting landscaping and sidewalks. The City grants the following permits: Building Permit & ROW Permit 2. In consideration of the grant of the above permits and deferral of the above- described improvements, the Owner shall locate and construct the deferred improvements, within the deferral period, in accordance with the City standards in effect at the time the improvements are to be constructed. 3. Deferral Period. The deferral period shall commence upon the effective date of this Agreement and terminate ten (10) years thereafter, unless earlier terminated by the City upon notice to the Owner of the determination by the Public Works Director that current development of such improvements are required on nearby properties; condition present constitutes a significant risk to public safety which can be mitigated by such improvements; or the formation of a local improvement or similar district. 4. Upon expiration or termination of the deferral period, the City shall provide Owner notice of the required construction of the deferred improvements, including the time for completion of the improvements. The Owner shall initiate installation of the deferred improvements within sixty (60) days of the date of such notice. Installation shall be completed within a reasonable time as determined by the Director of Public Works (or designee) and thereafter be subject to inspection and acceptance by the City. 5. In the event Owner fails to construct the deferred improvements or fails to complete construction of the deferred improvements within the time provided above, the City shall have the right to enter into the property and construct or complete the construction of the required improvements, with the actual costs of such improvements Deferral Agreement - 2 being assessed against the Owner. Such assessment for costs shall constitute a lien against the property as provided in RCW 35.80.030 (1) (h). In the event a local improvement district, or other similar improvement district, is organized to construct the improvements described in this Agreement, Owner hereby waives any and all rights to protest the creation by the City of a local improvement district or other similar district to construct the above-described improvements, insofar as said improvement district includes within its area the above-described property and to the extent that said improvements benefit the property above described. Owner further agrees that if the City includes within a project not supported by an improvement district the above-described improvements, Owner, its transferees and any successors in interests hereby agree to participate in said project by paying their fair share thereof. 6. Owner hereby grants and conveys to the City through its City Manager (or designee), a special power of attorney to exercise any and all rights held by Owner its heirs, assignees, transferees or successors in interest, including any purchaser, mortgage holder, lien holder or other persons who may claim an interest in the above-described real property, to commit said property to an improvement district which includes within its area the above-described property and covers the improvements described above. This power of attorney is granted in consideration of the approval hereby given by the City described above, and shall be a power coupled with an interest which may not be terminated except at such time as the above approval be withdrawn or rescinded by the City. This Agreement constitutes a waiver of protest as provided by RCW 35.43.182. 7. This Agreement touches and concerns the real property described above and hereby binds Owner, and its assignees, heirs, transferees, donees, and/or successors in interest to said property. This Agreement shall be recorded in the Franklin County Auditor's Office, by the City, and the terms and conditions of this Agreement shall run with the land. The Owner shall bear the cost of recording this document with the Franklin County Auditor, and shall provide said payment of estimated recording costs to the City at the time of submittal of the deferral request. 8. For the purpose of this Agreement, time is of the essence. Should any dispute arise concerning the enforcement, breach or interpretation of this Agreement, the parties shall first meet in a good faith attempt to resolve the dispute. In the event the dispute is not resolved, it shall be resolved by binding arbitration pursuant to RCW 7.04A, as amended, and the Mandatory Rules of Arbitration (MAR); and venue shall be placed in Franklin County, Washington, the laws of the State of Washington shall apply, and the prevailing party shall be entitled to its reasonable attorney fees and costs. Deferral Agreement - 3 DATED this _C�7_ day of _'2014. CITY OF PASCO qdFAF i/ 4 ATTEST: Debra L. Clark, City Clerk APPROVED AS TO FORM: Leland B. Ken, City Attorney Deferral Agreement - 4 OWNER Washington Industrial Properties -Pasco L.L.C. By: Investco Financial Corp ration, its Manager By: H 2 Ang6A L. Humphreys Vice President & General Counsel STATE OF WASHINGTON) SS. County of Franklin ) On thisc 0 day of 2014, personally appeared before me Dave Zabell, City Manager for the City of Pasco, Washington, described in and who executed the within and foregoing instrument, and acknowledged he/she signed the same as his/her free and voluntary act and deed for the uses and purposes therein mentioned GIVEN under my hand and official seal this /tel' day of y�6 4-e� , 2014. 2 n 5'" ms`s * NOTARY PUBLIC in d f r the, Stale of Washington -:T 0(PRY _ Residing at PVg�`Go My Commission Expires f b •'._ •.c, GF STATE OF WASHINGTON) -�R C /UL ss. County of ) On this 11 *L of 2014, personally appeared before me 2� hAue.sfjCdescribed in and who executed the within and foregoing instr6ment, and ac cnowredged h s e signed the same as higDe free and voluntary act and deed for the uses and purposes therein mentioned GIVEN under my hand and official seal this nj&- day ofCt66C-J - 12014. BRIDGET V. BOLDT NOTARY PUBLIC STATE OF WASHINGTON COMMISSION EXPIRES MAY 9, 2017 Deferral Agreement - 5 NOTARY PJALIC in and for the State of Washington Residing at Gk(l '�. W X q 8335 My Commission xpires '51-1111