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AGREEMENT AND CONVEYANCE REr C' F 7.0 j
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THIS AGREEMENT made and entered into this 6 day of 9v..--$4-e , 195 5< by
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:
WHEREAS the "DEVELOPER" is desirous of installing a traffic signal system and
all necessary appurtenances thereto at the intersection of S.W. Grady Way and
Powell Ave. S.W. and connect same to the City's Transportation System so that
such improvements will constitute an integral part thereof; and WHEREAS no other
property owners or additional users are presently available to share in the cost
and expense of construction of such improvements and;
Td WHEREAS the "DEVELOPER" is willing to pay all additional costs and expenses
CAD necessary to complete the installation of said improvements;
CP NOW THEREFORE, IT IS HEREBY AGREED AND COVENANTED BY AND BETWEEN THE AFORESAID
OD PARTIES AS FOLLOWS:
1 . The "Developer" hereby acknowledges and covenants that he is the owner
of the following described property to-wit:
Lots 1 through 10 of the WASHINGTON TECHNICAL CENTER PLAT
approximately 28.5 Acres located at the southwest corner
of S.W. 7th St. and Powell Ave. S.W. in Renton, Washington
and the "Developer" hereby agrees and covenants to pay all costs incurred and
to install the improvements as shown and described in Attachment B entitled "S.W.
Grady Way and Powell Ave. S.W. Plans and Specifications". In addition, the
"Developer" will be required to manage the project and maintain records consistent
with City requirements. The Developer shall also provide a construction inspector
who will work under the direction of the City. The Developer further covenants
and warrants that all expenses and claims in connection with the development
of the plans, specifications and estimates, construction and installation of
new equipment as well as removal of existing signal equipment, and construction
inspection wil be submitted to the City for proper documentation of project costs.
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 $74,980.00 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. Grady Way and Powell
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 $3.69 as calculated in
Attachment A, Item 3, except Phase II of the Washington Technical Center Plat(l )
Page 2
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 or his agent and after inspection of said construction.
5. No person, firm or corporation shall be granted a permit or be authorized
to develop a site which generates traffic which will use the intersection of
TS.W. Grady Way and Powell Ave.S.W. during the period of 10 years from date hereof,
cO without first paying unto the City, in addition to any and all other costs, fees
CD and charges to be assessed for each trip generated, in accord with the provisions
cAD
of this contract. All amounts so received by the City shall be paid out by it
fld 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. Grady Way and Powell 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. The total final cost of this project is $74,980.00 as per Sections
1 and 2 of this document. Of this amount the Developer's share is $9,185.00.
Therefore, the maximum amount to be reimbursed through its latecomer agreement
is $65,795.00.
8. Upon project completion the Developer shall submit unto the City receipts
for all claims and expenses incurred during the installation of the signal
improvements. Based upon the total project costs, this document will be revised
accordingly.
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".
s r .
Page 3
10. This Agreement or any part hereof, if determined by law to be invalid
shall not waive any rights the "Developer" may have to recapture the portion
of the cost to be reimbursed to the "Developer".
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DATED THIS 6 a DAY OF 19,S75L `
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CITY OF cwN`f�OAJ;••A••.M1&4CLPAL CORPORATION DEVELOPER:
BY: •1 FDG , BY: ��) .! ,
170 Mayor �/ resi,danL..,;
BY: ,fit," - BY %.tee_ -�� +
't. 0 + City Clerk .5' eta ' .+o-��'�,
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CITY OF RENTON developer• `'. '?ON'•'4, f
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STATE OF WASHINGTON ) STATE OF )
)ss ) ss
COUNTY OF KING ) COUNTY OF )
„.4F:, On', •i.s 4, day of , 19 4t,/ On this day of 19
el! bef6 me personally aat..4./rw
eared before me personally appeared
cp..,,;. :t)q1Arr.4.11,1, cy S-01.4."42:1-7- 06
O/�`...:c:, ! s
1
(Grantor(s)
OD :,to me known to be the (Mayor, City Clerk or
- other a horized officer or agent, as the
case ma e) of the Municipal Corporation to me known to be the individual (s)
that et ted 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 af.,fA.eji my official seal the day Signature of Officer and Official ,Seal
and year fi rst-labove written ' = .
RECORDED I HIS DAY
„A'61 . 4 c e .....z4 JUN b i I 53 01 {'i
Si gklt4re" d.;Tf tie' of Officer
-, '..$,4• .14/b.„,;...0,:,:..� l-I Di visION OF
O 62Y,N''; .., RELuRDS & r Fr'prINS.
p'' •'' `T. KING COUNTY
Notary u i.c.,a,n�eyd for t State of Notary Public in and for the State of
Washingtat ,; esl yng in residing at
or e;-'fee
CORPORATE ACKNOWLEDGMENT NO.202
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\ State of CALIFORNIA On this thel7th day of April 19 84,before me,
SS.
SANTA CLARA
County of Carol R. Froese ,
the undersigned Notary Public,personally appeared
John S. deRegt & Christiane A. Fowler
C 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. %
•
• - '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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FILED for Record at Request of
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Name... •.!.. . .�. .. . _ ,,
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ATTACHMENT A
1 . PROPERTY OWNERS AND USERS AND FAIR SHARE APPORTIONMENT
0. W. Properties @ 17.9% $ 13,421 .42
WTC @ 35% $ 26,243.00
$ 39,664.42
2. DOCUMENTED PROJECT COST
• Plans, specifications and estimates $ 4,900.00
Contract price $69,330.00
Construction inspection, closure $ 750.00
ESTIMATED TOTAL $74,980.00
3. DAILY TRIP GENERATION CALCULATION
. Based upon total development, Washington Technical Center will generate
14,230 trips per day
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Gp . 50% of the trips will use Powell and Grady - 7,115 per day
C . Washington Technical Center was assessed 35% of signal costs (per Hearing
Examiner) 35% x 74,980 = 26,243
45 $26,243 7,115 trips per day
each daily trip = $26,243 = $3.69/daily trip
7,115 trip/day
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's share in item #1 above to be paid
by:
Phase I of Washington Technical Center = 28.5Acres = 35% of WTC
81 .5
= 35% x $26,243 = $9,185
Phase II of Washington Technical Center = 53.0 Acres = 65% of WTC
81 .5 Acres
= 65% x $26,243 = $17,058
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 hereare final project costs and revise the initial estimates
for the project.