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Home My WebLink AboutA 8702020839 .�.� ' r ` -- � ��.�:� �� 3� �� `�i �� , � �,� _ . Y l � " FP-093-86 g��tT1f�L�R� ��tON MUNICIPAI BLDG. AGREII�IT TO BUILD FUTUF2E ROAD ��. � �cEN�01�,WA g8055 This agreement is effective this 26th day of January, 1987, by and between Henderson Homes, Inc. (a Washington Corporation) (Henderson) , and the City of Renton (City) . 4 Whereas, on this date City Council of Renton has approved the final Plat of Summer Wind Division I subject to Henderson agreeing to bond for ccxnpleti � of a ful ly impraved loop road (hereinafter loop road) within Tract �of G�� -%: SLur�ier Wind Division I in the event that Henderson fails to co m�lete �-. Division II of Summer Wind within three years of recording of final plat ("� of Surruner Wind I. City approval is further conditioned upon Henderson aqreeing. to � maintain a 20' temporary emergency access over lot 10 of Su�r�er Wind Division ` � � I and 104th Avenue fram the East side of lot 10 to Duvall Avenue (hereinafter � temporary emergency access road) . � Therefore the � , parties hereto agree as follaws: C� .. 1) Henderson hereby agrees to post an irrevocable letter of credit in ' amount determined by Public Works Director to insure the ccxnpletion of the ` loop road which shall be payable to the City in the event that Henderson � fails to record a final plat for Division II of the Plat of Su�r�er Wind, City of Renton, Washington, or build the loop road on or before the thi'rd anniversary date of the recording of the final Plat of SLuru��r Wind Division I, City of Renton, Washington. 2) In the event the bond becames payable (an event of default by Henderson) or Henderson builds the loop road, then Henderson agrees to dedicate to the City that property necessary for the said loop road in the approximate location as indicated in yellaw of Schedule A attached hereto. 3) Henderson agrees to maintain the emer�ency access road in a manner acceptable to the City Fire Marshal until this agreement terminates. 4) This aqreement and the enc�unbrance to title created hereby will automatically tenninate upon either of the follawing events: a) Recording of the Plat of Sunmmer Wind Division II provided said recording is before the third anniversary date of recording of the Plat of Suirrtner Wind Division I. b) Henderson completing the loop road and dedicating the appropriate property to the City. 5) Upon termination of the agreement, the City will promptly release the irrevocable letter of credit posted pursuant to paragraph one herein. 6) This agreement shall be binding upon the heirs, successors and assigns of the parties hereto and either party may enforce this agreement by specific perfozmance. CITY OF REI1I'ON HIIVDER O S IN . '� BY: U`� �,�/� fi�L�aJzceZ�� BY: TITLE: Mayor Pro= tem ATTEST:. ► � �Z� TITLE: �/��y�� TITLE: City Clerk �'.:j�,�+.�,f� �l�j��,� �` STATE OF WASHINGTON , ��:�, � ;•,t�:4�s ss. �:a�:H£L .�:�:�::€:;�,�_�i_� County of I On this .�,3 �-d day of �4 , 19 � 7before me, the undersigned, a Notary,$ublic in and for the State of Washin g ton, ul y commissioned and sworn, personall y a p peared ��5 [.,• l7 Cr�&.t..S� and to me known to be the President a�d ��y, respeEti�ly, of �n��r",sm �..{n�y�s ��G. i the co{{��'e'F�NiaF..�hat executed the foregoing instrument, and acknowledged the said instrument to be the free and voluntary actr�li�F�e'�o�'�Sa�`E��c1orpa�atixon, for the uses and purposes therein mentioned, and on oath stated that /j,(,,. a:�i�c�rize�".�o"`'�;rec�'t�.�e said�instrument and that the seal affixed (if any) is the corporate seal of said corporation. �v.""r��=i(i'�'ss/�my,^�li3ni�y�,zd off,icial seal hereto aH'ixed the day and ye t above written. � s ♦.•,�'I�l�f�lt l, �� p �l Y �i. (":� � � � " r' +>.a.w�..., i.: s i — � i � � '� �. � ` ',` ....."" "'" ... • ;�`�a ;��'� �: o'.'` � � N tary Publrc rn and�or the State o f Wa.chington,----..... _ �, �� _� AtKN�UWi-CLiN!EN"�"�r6RF��ltiYION q r .ridrng at �Aw �K , . � �,�ti *�� r �"�i Fc�rm No.�V-14 `--} /j� �� G� l.--a O '"_"1 � f , f � �� • wi � � • � STATE OF WASHINGTON, ss. County of On this �°�'� day of �O�MU�O�,V`N , 19 a7 , before me, the undersigned, a Notary Public in and for the State of Washington, dttly commissioned and sworn, personally appeared `�o-maS (,�. `Triv�m �(��m �rofvrn and �� l�lax�h� � /YlcsFer to me known to be the and ��, respectively, of �j� p-� �� the corporation that executed the foregoing instrument, and acknowledged the said instrument to be the free and voluntary act and deed of said corporation, for the uses and purposes therein mentioned, and on oath stated that authorized to execute the said instrument and that the seal affixed (if an ) is the corporate seal f said corporation. Witness my hand and official seal hereto affixed the day and year fir above written. 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