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'� AGREEMENT AND CONVEYANCE 84'0€,r0e 0682 C'
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THIS AGREEMENT made and entered into this 61-4- 1 day of , 1P/,
and between the CITY OF RENTON, a municipal corporation under the laws and statutes
of the State of Washington, hereafter referred to as the "CITY" and HOLVICK,
deREGT, and KOERING, hereinafter referred to as "DEVELOPER":
WITNESSETH:
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WHEREAS the "DEVELOPER" is desirous of having the City install a traffic signal
system and all necessary appurtenances thereto at the intersection of S.W. 7th
St. and Hardie Ave. S.W. and connect same to the City's Transportation System
el so that such improvements will constitute an integral part thereof; and WHEREAS
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CO no other property owners or additional users beyond those listed in Attachment
GO A are presently available to share in the cost and expense of construction of
such improvements, and;
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WHEREAS the "DEVELOPER" is willing to pay all additional costs and expenses necessary
to complete the installation of said improvements;
NOW THEREFORE, IT IS HEREBY AGREED AND COVENANTED BY AND BETWEEN THE AFORESAID
PARTIES AS FOLLOWS:
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1 . The "Developer" hereby acknowledges and covenants that he is OWNO : ? I S:QW.V :; v
of the following described property to-wit:
Lots 1 through 10 of the WASHINGTON TECHNICAL CENTER PLAT ;$Y.'-KE Cti'ORDS 1Sttl�t
approximately 28.5 Acres located at the southwest corner' KING COUNT yrs
of S.W. 7th St. and Powell Ave. S.W. in Renton, Washington
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and the "Developer" hereby agrees and covenants to pay all costs incurred beyond
the funds and equipment currently available to install the improvements as shown
and described in Attachment B entitled: "S.W. 7th and Hardie Ave. S.W. Plans
and Specifications".
The "Developer" further covenants and warrants that all expenses and claims in
connection with the advertising, award, contract execution, construction and
installation as well as construction inspection and project closure, of the
aforesaid improvements, whether for labor or materials or both, will be paid
in full .
2. The "Developer" further concurs that the total final cost of said
construction and other related elements as hereinabove specified will be in the
sum of $77,702.99 as shown in Attachment A. Based on said total amount of cost,
the costs per trip generated for said improvement shall be employed to determine
the pro rata reimbursement to the "Developer" by any owner of real estate, who
did not contribute to the original cost of such improvement, and who subsequently
generates traffic which impacts the intersection of S.W. 7th Street and Hardie
Ave. S.W. It is further agreed that in the event the total actual cost of the
aforedescribed improvement shall be different from that set forth hereinabove,
then this Agreement will be duly amended to set forth the total actual cost
thereof. The pro rata cost per daily trip generated is $2.18 and has been
calculated as shown in Attachment A Item 3, except Phase II of the Washington
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Technical Center Plat(1 ), shall reimburse the "Developer" on a pro rata share as
indicated in Item #4 of Attachment A.
3. It is hereby found and determined that the construction and installation
of said aforedescribed improvement is in the public interest and in furtherance
of public safety and mobility.
4. The "Developer" hereby agrees and covenants to convey, transfer and
assign unto City all rights, interest and title in and to said improvements and
all appurtenances and accessories thereto, free from any claim and encumberance
of any party whomsoever, the City agrees to accept and maintain said improvement
as part of its present Transportation System upon approval thereof by the Public
Works Director of his agent and after inspection of said construction.
5. No person, firm or corporation shall be granted a permit or be authorized
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QDto develop a site which generates traffic which will use the intersection of
C> S.W. 7th St. and Hardie Ave. S.W. during the period of 10 years from date hereof,
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CD without first paying unto the City, in addition to any and all other costs, fees
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and charges to be assessed for each trip generated, in accord with the provisions
`p of this contract. All amounts so received by the City shall be paid out by it
unto the "Developer" under the terms of this agreement within sixty (60) days
after receipt thereof. It is further agreed and covenanted that upon expiration
of the term of this Agreement, to-wit: TEN years from date hereof, the City
shall be under no further obligation to collect or make any further sums unto
the "Developer".
The decision of the Public Works Director of his authorized representative in
determining the amount due from any owner whose traffic distribution patterns
use the intersection at S.W. 7th St. and Hardie Ave. S.W. will be final .
6. It is further agreed and understood that the aforedescribed improvements
to be paid for by HOLVICK, deREGT, and KOERING will , upon completion and acceptance
by the City through its legislative body, become a part of the Municipal
Transportation System.
7. Furthermore the "Developer" hereby agrees and covenants. to convey to
the City upon execution of this document all necessary funds to provide the
difference between $56,944.50, the lowest acceptable bid, and $22,201 , the amount
of cash funds which have been previously collected, plus estimated costs incurred
by the City for necessary advertising, award, contract execution, construction
inspection and project closure. If the final contract price is higher than the
original low bid, the "Developer" will submit necessary funds to provide the
difference. These funds are due and payable upon notification by the City.
8. The total cost of this project is $77,702.99 as per Sections 1 and 2
of this document. Of this amount the City of Renton is contributing $16,500.00;
Renton Shopping Center is contributing $4,201 .00; C.H.G. is contributing $19,425.75
and the Developer's share for Washington Technical Center Phase I is $5,439.21 .
Therefore, the estimated maximum amount to be reimbursed through this latecomer
agreement is $32,137.03.
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9. This agreement shall be placed for record with the King County Auditor's
Office immediately upon execution thereof and all costs of recording shall
be the responsibility of the "Developer".
10. Upon project completion the total project cost shall be determined. The
project cost shall include all costs incurred by the City and Developer
in constructing the traffic signal , street lighting and all associated
appurtenances at the intersection of S. W. 7th St. and Hardie Avenue S. W.
consistent with City Standards. This shall include but not be limited to
the final contract price, cost of signal controller, plans, specifications
and estimates; costs incurred by the City and construction inspection. Based
upon the final cost, the fair apportionment and trip generation fees shall be
adjusted accordingly.
OD11 . This Agreement or any part hereof, if determined by law to be
pinvalid, shall not waive any rights the "Developer" may have to recapture
pthe portion of the cost to be reimbursed to the "Developer".
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DATED THIS 6DAY OF 19("Z
T , .�:�µ;.;, >,,Oi A. MUNICIPAL CORPORATION DEVELOPER:
Bt �.•_ . Ste• 'od. BY: l',4,..,
�. 7 ; .• - �' Mayor �Presi de ,,..,,,
,4, ,
',BY: •
City Clerk Secretary.'` '•:•,� s
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H . I A r ^,r
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CITY OF RENTON p „'' � ., ,,,,•, �'
developer ,.
STATE OF WASHINGTON ) STATE OF )
COUNTY OF KING )ss COUNTY OF ) ss
C On this 6 day of , 19 $ / On this day of 19
up before me personally a peared before me personally appeared
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8 ).3.,,..141ria, g Sk„,p,errLD.,
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(Grantor(s)
to me known to be the (Mayor, City Clerk or
other authorized officer or agent, as the
case may be) of the Municipal Corporation to me known to be the individual (s)
that executed the within and foregoing described in and who executed the
instrument to be the free and voluntary foregoing instrument, and acknowledged
act and deed of said municipal corporation, that he (she, or they) signed the same
for the uses and purposes therein mentioned, as his (her or their) free and volun-
and on oath stated that he was authorized tary act and deed, for the uses and
to execute said instrument and that the seal purposes therein mentioned. GIVEN
affixed is the corporate seal of said Munici- under my hand and official seal this
pal Corporation. day of , 19
IN WITNESS WHEREOF, I have hereunto set my •
hand and affixed my official seal the day Signature of Officer and Official Seal
and year first above written
Sign,q a ai'&'•Iitl r of Officer
i ::. 4,; . WI0 ".in '4.,...._ee_f
e z, T,22,- _IL ,
Nota',ry •Public `i n'rarld for the State of Notary Public in and for the State of
WashingtOt! residing in /0,,,,., residing at
CORPORATE ACKNOWLEDGMENT NO.202
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State of CALIFORNIA On this the 17th day of April 19 84,before me, l
r 11 $$. l
•• County of SANTA CI�ARA Carol R. Froese
the undersigned Notary Public,personally appeared
John S. deRegt and Christiane A. Fowler
M personally known to me
❑ proved to me on the basis of satisfactory evidence
to be the person(s)who executed the within instrument as President \
and Secretary or on behalf of the corporation therein
named,and acknowledged to me that the corporation executed it.
WITNESS my hand and official seal. %
N s Signature `%
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7120 122 NATIONAL NOTARY ASSOCIATION•23012 Ventura Blvd.•P.O.Box 4625•Woodland Hills,CA 91364
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ATTACHMENT A
1 . PROPERTY OWNERS AND USERS AND FAIR SHARE APPORTIONMENT
CHG @ 25% $ 19,425.75
WTC @ 20% $ 15,540.60
City of Renton $ 16,500.00
Renton Shopping Ctr. $ 4,201 .00
$ 55,667.35
• 2. DOCUMENTED PROJECT COST
Plans, specifications and estimates $ 3,000.00
Contract Price $ 56,123.50
City incurred costs (advertising, award,
execution, construction inspection, closure) $ 1 ,329.49
City supplied traffic signal controller $ 16,500.00
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CD HDK $ 750.00
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O ESTIMATED TOTAL $ 77,702.99
GO
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Tr• 3. DAILY TRIP GENERATION CALCULATION
. Based upon total development, Washington Technical Center
will generate 14,230 trips per day
. 50% of the trips will use 7th & Hardie - 7,115 trips per day
. Washington Technical Center was assessed 20% of signal costs
(per Hearing Examiner) 20% x 77,702.99 = $15,540.60
$15,540.60 7,115 trips per day
each daily trip = $15,540.60 = $2.18/daily trip
7,115 trip/day
4. WASHINGTON TECHNICAL CENTER PLAT, PHASE II REIMBURSEMENT CALCULATION(1 )
. Washington Technical Center total developable area = 81 .5 acres
. Phase I , Washington Technical Center total developable area = 28.5 acres
. Phase II , Washington Technical Center total developable area = 53.0 acres
. Portion of Washington Technical Center share in item #1 above to be
paid by:
Phase I of Washington Technical Center = 28.5 Acres = 35% of WTC
81 .5 Acres
= 35% x $15,540.60 = $5,439.21
Phase II of Washington Technical Center = 53.0 Acres 65% of WTC
81 .5 Acres
= 65% x $15,540.60 = $10,101 .39
FOOTNOTE (1 )
Washington Technical Center, Phase II property description. Lots 11 and 12,
Tracts A and B of the Washington Technical Center plat, recorded under King County
Recording #8211300925.
The figures presented here are final project costs and revise the initial
estimates for the project.
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