HomeMy Public PortalAboutAGRMT-MAPS SENIOR APARTMENTSJ
Ent 535344 Bk 887 Pi 340 — S 7d
Date: 29-RUG-2019 4:41:30PM
Fee: $40.00 Check Filed By: GKW
JOHN ALAN CORTES Recorder
GRAND COUNTY CORPORATION
For: SOUTH EASTERN UTAH TITLE COMPAN
Y
RESTATED AND AMENDED SUBDIVISION
IMPROVEMENTS AGREEMENT
For
MAPS the Subdivision, Phase II
The City of Moab, a Utah municipality (hereinafter "CITY"), and the MAPS Senior
Living LLC, a Utah limited liability company ("MAPS" or "SUBDIVIDER") mutually
referred to as the "Parties," enter into the following Subdivision Improvements Agreement
(the "Agreement'), pursuant to Moab Municipal Code (hereinafter: "City Code") Section
16.20, to cover the installation of subdivision improvements required by law and applicable
land use approvals.
I. RECITALS.
A. On February 22, 2018 the City Planning Commission recommended
approval of the final plat for the MAPS Subdivision to the Moab City
Council.
B. The Moab City Council, as the land use authority for subdivision final plat
approval, approved the final [lat for the MAPS Subdivision, Phase II
(hereafter "the Subdivision" or "the Plat") at its regular City Council meeting
on March 12, 2019. The Plat was subsequently modified and is now
recorded as Maps Subdivision, Phase II, Reception No. 534983, Book 885,
Page 510 of the Grand County land records.
C. Subdivider has submitted to City for its review construction plans and
specifications entitled MAPS SENIOR HOUSING (sheets C0.0-C4.6
inclusive, dated 1-9-2019, and approved by the City Engineer), having been
prepared by Goff Engineering and bearing the stamp of Robert Sean Harries,
a licensed Professional Engineer (hereinafter: the "Construction Plans").
Said plans show in sufficient detail the Required Improvements for the
Subdivision.
D. The Construction Plans have been reviewed and approved subject to such
modifications as may have been specified by each of the following entities:
(i) The City Engineer with respect to site grading, pathway, street, and
storm water drainage improvements,
(ii) The City Public Works Director with respect to culinary water
improvements if provided by the City, storm water drainage
improvements, parking improvements, and access improvements.
E. The Housing Authority of Southeastem Utah was formerly a party to a
Subdivision Improvements Agreement, dated March 12, 2019, with the City
for the MAPS Subdivision. That agreement is hereby terminated and
superseded by this Agreement, and Maps Senior Living, LLC assumes all
such obligations as the owner of the Subdivision and the successor in title.
1
II. AGREEMENT
IN CONSIDERATION OF THE ABOVE RECITALS, THE PARTIES AGREE
AS FOLLOWS:
1. Covered Property. The real property subject to this Agreement (the "Property") is
described as follows:
PARCELS 1 and 2, MAPS SUBDIVISION Phase II, LOCATED IN THE NW 1/4 OF
SECTION I, T26S, R21E, SLB&M, ACCORDING TO THE OFFICIAL PLAT
THEREOF, Reception 534983, Book 885, P. 510.
2. Payment of Fees; Approved Land Uses. Subdivider agrees to pay all in -effect City
fees applicable to the Subdivision, including but not limited to, impact fees,
connection fees, building permit fees, and applicable inspection fees. Applicable
fees shall be calculated and paid according to City policy.
a. The uses permitted in the Subdivision shall correspond with the uses
authorized for the R-4 Zone under the Moab Municipal .Code and other
applicable ordinances. The configuration of the Subdivision and the uses
therein shall conform to the Construction Plans, Exhibit 1 attached, and the
Final Plat, as set forth in Exhibit 2, attached.
3. Required Improvements. Subdivider shall construct all of the improvements to the
property shown on the Construction Plans, and as described in the Subdivision
Improvement Schedule attached as Exhibit 1 (the "Required Improvements").
Required Improvements shall include the public improvements shown on the
Construction Plans, including but not limited to the following:
(a) Site clearing and removal of obstructions
(b) General site grading
(c) Site utilities including but not limited to culinary water and sanitary sewer,
gas, and electrical power
(d) Streets, curb & gutter, and sidewalks
(e) Street signage and lighting
(f) Storm water drainage facilities.
4. Improvements to be Completed in Conformance with Construction Plans.
Improvements shall be completed in conformance with the approved Construction
Plans. All changes to the Construction Plans must be authorized in writing by the
City Engineer. In addition, all improvements shall be completed in conformance
with the City of Moab Public Improvement Specifications and all state and federal
regulations as applicable. Where discrepancies occur between the Construction
Plans and the listed reference standards, the reference standard shall prevail.
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Ent 535344 Bk. 0887 Pg 0341
5. Timeline for Completion. Construction of all Required Improvements for Property
shall be completed within two (2) years from the date of this Agreement. A
reasonable extension of time for the completion of improvements may be granted,
at the discretion of the City Council, upon a showing by the Subdivider that there
is good cause for an extension and that the work has been diligently prosecuted
from the date of this Agreement.
6. Acceptance of Improvements, Warranty. All work shall be subject to quality
assurance testing and inspection as specified in the Construction Plans and/or
applicable reference standards. Subdivider or Suvdivider's authorized
representative shall provide 48 hours minimum notification to City as applicable
when inspection is required. The costs associated with such testing and inspection
shall be the responsibility of Subdivider.
(a) Upon satisfactory completion of improvements as evidenced by inspection
and testing as applicable, all water and sewer mains and all street and public
pathway improvements shall be dedicated to City.
(b) Subdivider warrants that all public improvements dedicated to City shall be
constructed in a workmanlike manner and in accordance with approved
plans and specifications, and that all such improvements shall be free of
defects in materials and workmanship for a period of one (1) year from the
date of acceptance by City.
(i)
Subdivider shall promptly repair or replace any defective work
following receipt of written notice under this warranty from the
City.
(ii) Subdivider additionally warrants that all public improvements shall
be delivered free and clear of all liens or encumbrances.
7. Performance Guarantee. Contemporaneous with the execution of this Agreement, the
Subdivider's lender, Key Bank, shall deliver to the City a validly executed constriction
loan Set -Aside Agreement, in a form substantially complying with Exhibit 4, attached,
for the use and benefit of the City. The Set Aside Agreement shall be in an amount of
TWO HUNDRED FIVE THOUSAND TWO HUNDRED EIGHTYTWO DOLLARS
which equals one hundred ten percent (110%) of the estimated cost of all Public
Improvements. Said cost estimate shall be approved by the City Engineer and is shown
in Exhibit 3 hereto.
8. Partial Releases of the funds secured by the Set Aside Agreement may be made for the
purpose of paying for labor, materials, or construction services provided in the
installation of the Public Improvements. Partial releases of the Set Aside Agreement
funds may be jointly authorized by the City and the Subdivider, in writing.
9. Final Release of Set Aside Agreement. Upon completion of all Required
Improvements in accordance with the approved Construction Plans, Subdivider may
request that the Set Aside Agreement be released.
(a) In order for Subdivider to receive final release, the following shall be
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Ent 535344 Bk 0887 Pg 0342
presented to City:
(i) A completed Final Release Form supplied by City and signed by
Subdivider. Said form shall include Subdivider's certification of
warranty for the completed improvements.
(ii) Copies lien waivers/releases from all contractors who performed
work on the project and all suppliers who supplied materials that
were incorporated into the work.
(iii) Written certification by Subdivider that all outstanding charges for
the Improvements have been paid and that there are no liens,
encumbrances, or other restrictions on the Improvements.
(b) Upon acceptance of a complete request for final release, the City shall verify
that all Required Improvements are complete and in accordance with the
approved Construction Plans and Final Plat.
10. Citv's Use of Set Aside Agreement upon Default. Upon written certification by the
City Manager that the Subdivider has failed to perform its obligations under this
Agreement, within the time period set forth in this Agreement, and if City intends to
proceed with the task of installing any or all of the Required Improvements covered by
this Agreement, the City may elect to declare a default pursuant to this Agreement.
The City may then proceed to draw on the Set Aside Agreement and apply the funds
towards completion of the Public Improvements.
11. Zoning Compliance. Certificates of Occupancy for structures within the Property shall
only be issued upon satisfactory completion and acceptance of all Required
Improvements as required by this Agreement. hi no case shall a Certificate of
Occupancy be issued, nor shall any structure be occupied, prior to the completion of all
Required Improvements and the satisfaction of zoning requirements for a given lot.
The occupying of any structure without a Certificate of Occupancy shall constitute
Default as provided for herein.
12. Default Remedies, Lapse of Plat. All provisions of this Agreement are material and
any violation is grounds for declaration of Default. Prior to invoking any remedies for
Default under this Agreement City shall deliver written notice to the Subdivider
describing the act, event, or omission constituting same, and allowing Subdivider a
period of not less than thirty (30) days in which to cure or abate the violation. Cure
within that period reinstates this Agreement.
(a) Upon declaration of Default, City may exercise any remedies for violation
available under City ordinances or Utah statutes, including, without
limitation: withholding building permits or certificates of occupancy;
commencing an action for specific performance or to enjoin or abate zoning
violations or violations of this Agreement; an action for recovery of
damages; and/or taking any other remedies available at law or equity.
Injunctive relief may be obtained upon a showing of a violation of this
Agreement, and without the necessity of the applicant posting a bond.
4
Ent 535344 Bk 0887 Pg 0343
13. General Provisions. This Agreement shall be binding on and inure to the benefit of the
successors and assigns of Subdivider in the ownership or development of all or any
portion of the Property. Assignment of this Agreement shall require the mutual
approval of the City and the proposed assignee, in writing.
(a) This Agreement is the product of mutual bargaining. All terms shall be
construed in accordance with their plain meaning, regardless of the extent
to which either party participated in the drafting.
(b) Failure of a party to exercise any right under this Agreement shall not be
deemed a waiver of any such right, nor shall any course of dealing or
previous action or inaction be deemed a waiver of any rights or claims
arising with respect to later or subsequent breaches, acts or omissions.
(c) The term "Agreement' includes this Improvements Agreement, all exhibits
hereto, the Final Plat/Plan for the subdivision, and all related design
drawings, which documents shall constitute the sole and complete
Agreement between the parties. The Agreement shall supersede all prior
Agreements or representations, however evidenced. No modifications to
any of the terms of this Agreement shall be binding, unless reduced to
writing and lawfully executed by both parties.
(d) The place of performance of this Agreement is Grand County, Utah. In the
event of any legal dispute conceming the subjects of this Agreement, the
parties agree that the exclusive venue in the Seventh Judicial District Court,
Grand County, Utah. In any such proceeding arising under this Agreement,
regardless of the denomination of the legal claims, the parties waive trial to
a jury on all claims and agree that the action shall be tried to the court.
(e) In any legal proceeding concerning the terms of this Agreement the
substantially prevailing party shall be entitled to recover its reasonable
attorney fees and court costs in addition to any other relief authorized
herein.
(f) This Agreement shall be governed by Utah law.
(g) This Agreement does not create any third -party beneficiary rights. It is
specifically understood by the parties that:
(i) the Project is a private development;
(ii) the City of Moab has no interest in, responsibilities for, or duty to
third parties concerning any improvements to the Property,
unless/until the City accepts dedication of public improvements
pursuant to this Agreement; and
(iii) except as otherwise provided herein, Subdivider shall have full
power and exclusive control of the Property.
(h) The provisions of this Agreement are severable, and if any portion should
be held to be invalid or unenforceable, then the remainder of this Agreement
shall be construed to be in full force without reference to the invalid
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Ent 535344 Bk 0887 Pg 0344
provision.
(i) In the event of any legal dispute conceming this Agreement neither party
shall be liable to the other for consequential damages, lost profits, or delay
related damages of any kind.
(j) All notices under this Agreement shall be given in writing by first class or
certified mail, postage prepaid, and delivered to the following addresses:
To the City of Moab:
City of Moab
217 East Center Street
Moab, Utah 84532
Attn: City Manager
To SUBDIVIDER:
MAPS Senior Living, LLC
321 East Center Street
Moab, Utah 85432
(k) Notice may be delivered to such other parties or addresses as the parties
may designate in writing from time to time.
(1) Nothing in this Agreement shall be deemed to waive any governmental or
other immunity to which the City is entitled under applicable law.
-Remainder of Page Intentionally Left Blank-
6
Ent 535344 Bk 0887 Pg 0345
This Agreement has been executed by the City of Moab, acting by and
Through the Moab City Council, which has duly authorized execution, and by
Subdivider as of the date(s) specified below.
CITY OF MOAB:
By: rfr,
Mayor Emily S. Niehaus Date
ATTEST:
By:
s
City Recorder
Keer% Krk
Peptri'j Aeurc)et
SUBDIVIDER:
Maps Senior Living, LLC
STATE OF UTAH
)§
COUNTY OF GRAND
Date
DatVt6//
e
The foregoing agreement was executed before me by MAPS Senior Living, LLC,
acting by and through 6e Zi /P f , this d ,' `day of
20 it Witness my hand a official seal. My commission expires:
/ `CARMELUt GALLEY
Notary Pink
Stale of Utah
Comm. No. 666544
My Comm. Won{ Da 2$. 2019rorrannonionornowoorua
7
47sie174...daKt.-3
Notary Public, St 2of Utah
Address: A;a/,// </ el„zCy
Ent 535344 Bk 0887 PE 0346
ACKNOWLEDGMENT
The Housing Authority of Southeastern Utah, as party to the former Subdivision
Improvements Agreement with the City of Moab, dated March 12, 2019, hereby consents
to the termination of the agreement of that date, which shall be superseded by this
Agreement.
THE HOUSING AUTHORITY OF SOUTHEASTERN UTAH:
By:
Jamul Riley,
e Director Date
8 Ent 535344 Bk 0887 Pg 0347
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I
MAPS Senior Housing
Housing Authority of Southeastern Utah (HASUJ.
Moab, Utah
1B-0S5. PIA
PARK DRIVE -ROAD & UTILITY EXTENSION PIA
ROAD, CURB; GUTTER, SIDEWALK
..
ITEM NO..
CONTRACT ITEM
.I
UNIT
PLAN
:
Unit Cost
Total
1..-
EARTHWORK-E)(CAVA➢ON _
CY
400
J.
j 15 DO
$
-6,000
2 -
SAWCUT,JREMOVAL & DISPOSAL OF ASPHALT PAVEMENT
5Y
50
$ 40.00
$
-i2,000
3-
SAWC,REM.,& DLSP. OF SIDEWALK, CURB &GUTTER
SY
4
-
$ c50.00
$
f200
CLEARING, GRUBBING, SUBGRADE PREP
SY
1,930
_..
$ 4.00
$
7,720
5
AGGREGATE BASE COURSE 3/4'(&DEPTH)
CY
--' 400
$ '3500
$
14,000
6 -
ASPHALT PAVEMENT() INCH)
SY
:1,060.
$ 52600
$:` -
26,500.
71'J.
CONCRETE CURB &GUTTER _
lF
1540
'
$.-:25.00
$
- 13,500.
8
CONCRETE SIOWAI1.14"DEPTH) - -
SY
2700
--
$. 10.00
$
- 2,700
9..
CONCRETE APRON 16"DEPTH)
SY ...
200
$" L5.00
$
300
SUBTOTAL
$
- 72,920
SEWER.
ITEM NO
CONTRACT ITEM
UNIT
':PLAN
;Unit Cost
Total
10
8"SDR-351NEL:'TRENCH ,. BED; BACRFILL
LF.
-306
-'.
$ B000
$
24,400
11. '.
48"DIA. MANHOLE
EA
J. 1
C
$ : 4,00000
$
4,000
12
CONNECT TO E]NSTING MANHOLE
-.
EA
1
;$ 9,50000
$
3,500
13
4"SOR35: INC TRENCH, BED, BACRFILL,CIEANOUT
LF -
IS
$ 6000
$
900
SUBTOTAL
$
C32,600
"WATER
ITEM NO.
CONTRACT ITEM
'
UNIT
%MAN
'.
Unit Cost
Total
14
8" C900 INCL. TRENCH, BED, BACKEILL -
--
LF
$60
$. 100 D0
$
56,000
15"._8"WATER
VALVE
-
EA -
3
$. 3,000.00
$.
19,W0
16.
8"FITTING (3 TEE, 45 DEG. ELBOW,8x6 REDUCER,CAP) -
EA
5
ll.
$ :1,000.00
$'.
1S,000
7 -6"
C900 INCL. TRENCH, BED, BACKFILL
LF
- 40
-.
$ !9000
$.
+3,600
18
6"MING(CAP)
EA. '.
I
$ 'soo.00
$ ..
'. BOO
19 )
EIRE.HYORANT ASSEMBLY VN6VALVE
EA
1
$ $,500.00
$
'6,500
SUBTOTAL
$
'80,900
TOTAL COST ESTIMATE
$
186,620
Ent 535344 Bk 0887 Pg 0365
EXHIBIT 4
KeyBank National Association
4910 Tiedeman Road, 3rd Floor
Mail Code OH-01-51-0311
Brooklyn, Ohio 44144
Attention: Community Development Lending
Reference: MAPS Senior Living, LLC
August _, 2019
City of Moab
217 East Center Street
Moab, Utah 84532
Attn: City Manager
Re: Completion Assurance/Set Aside Letter
Borrower: MAPS SENIOR LIVING, LLC, a Utah limited liability company
Bank's Loan No. 10201400
Municipality: City of Moab, a Utah municipality
Amount: Two Hundred Five Thousand Two Hundred Eighty Two and No/100 Dollars ($205,282.00)
Ladies and Gentlemen:
We are pleased to advise you that KeyBanIcNational Association, a national banking association, has made or has agreed
to make a construction loan (the "Loan") to the above -referenced Borrower (`Borrower") for the purpose of financing,
among other things, the construction of certain on -site, off -site, street improvement and/or other improvements
(collectively, the `Borrower Work" as described in Exhibit B) to the property described in Exhibit A hereto (the
"Property"), which we understand Borrower has agreed with the City of Moab ("City" or "you") to construct at
Borrower's expense pursuant to a subdivision improvements agreement (the "SIA").
In consideration of Borrower's agreement to perform the Borrower Work and at your request, we agree to establish
certain on -site, off -site, and street improvement categories in the construction loan budget in an amount not less than
Two Hundred Five Thousand Two Hundred Eighty Two and No/100 Dollars ($205,282.00) in the aggregate and as more
fully set forth above (the "Set Aside Funds"), to pay for the cost of constructing the Borrower Work Although Borrower
has represented to us that such Set Aside Funds are sufficient to pay for the cost of constructing and completing the
Borrower Work, we make no representation or warranty as to whether the amount of such Set Aside Funds is or will be
sufficient to complete and pay for the Borrower Work. Disbursement of any portion of the Set Aside Funds from such
budget categories to Borrower will be made upon the request of Borrower and in accordance with the terms and
conditions set forth in that certain Construction Loan Agreement of substantially even date by and between Borrower and
KeyBank National Association, a national banking association, governing the Loan (as amended, the "Construction Loan
Agreement'). In addition, the Construction Loan Agreement contains certain conditions precedent to funding
disbursements of the Set Aside Funds to Borrower from the line item budget categories which to date have not been
satisfied by Borrower. However, notwithstanding the preceding, the disbursement of Set Aside Funds to City pursuant to
the exercise of its Draw Right in accordance with the terms of this letter shall not be subject to the terms and conditions
of the Construction Loan Agreement, but rather shall be govemed by the terms of this letter. We have no obligation to
ensure that the Set Aside Funds, if disbursed to Borrower or City (as applicable), are actually used for the construction of
4835-7949-0715
Ent 535344 Bk 0887 Pg 0366
City of Moab
August , 2019
Page 2
the Borrower Work, or that the Borrower Work is properly and timely constructed according to any required standard of
workmanship.
In the absence of the City exercising its Draw Right (as defined below) hereunder (which shall only be subject to
satisfaction of the Draw Right Conditions and applicable law), we will only disburse the Set Aside Funds to the
Borrower CO upon satisfaction of the conditions precedent thereto set forth in the Construction Loan Agreement, and (ii)
upon City's written consent to Borrower's request for such funds, which consent may be evidenced by the City
Engineer's (or other duly authorized representative's) signature on the Borrower's draw request or certification
submitted to Lender for such funds. If the City's right to draw on the Set Aside Funds to complete the Borrower Work
has arisen under the SIA pursuant to the occurrence of a default thereunder (such right, the "Draw Right"), we will
disburse to the City (and not Borrower) the remaining undisbursed balance, if any, of the Set Aside Funds for the City to
use in diligently completing the Borrower Work and paying the costs of it. We will only disburse these Set Aside Funds
to the City if CO the Draw Right has arisen upon a declaration of default by the City under the SIA, and (E) we receive
the written demand of the City for such funds (collectively, the "Draw Right Conditions"), but such disbursements shall
not, for the avoidance of doubt, be subject to the satisfaction of the terms or conditions relative to advances set forth in
the Construction Loan Agreement.
For the avoidance of doubt, our liability, if any, under this letter will be reduced by the aggregate amount of Set Aside
Funds which we actually disburse to the Borrower or the City from the applicable category(ies) in the Loan budget
provided that, for the avoidance of doubt, our liability hereunder shall not be reduced by any advance of Set Aside Funds
to the Borrower if the City hasn't consented to such advance in writing as provided herein. Our liability will expire and
terminate upon, and no claim that you might bring hereunder shall be valid unless received by us prior to, the earliest to
occur of: (i) acceptance of the Borrower Work by you as evidenced in a writing delivered to us at our address set forth
above (or such other address of which we send you notice at your address set forth above), (ii) disbursement in full of all
Set Aside Funds in the respective category(ies) in the Loan budget, or (iii) your retum of the original of this letter to us at
our address set forth above (or such other address of which we send you notice at your address set forth above).
This letter will be govemed by the laws of the State of Utah. No notice is required of your acceptance of this letter.
4835-7949-0715
[Remainder of Page Intentionally Left Blank]
Ent 535344 Bk 0887 Pg 4367
City of Moab
August _, 2019
Page 3
4835-7949-0715
Very truly yours,
KEYBANK NATIONAL ASSOCIATION
a national banking association
By:
Name: Sarah Geis
Title: Vice President
Ent 535344 Bk 0887 Pg 0368
EXHIBIT A
PROPERTY DESCRIPTION
That certain real property owned by Borrower and situated in the County of Grand, State of Utah and
described as follows:
Parcels 1 and 2, Maps Subdivision, Phase II, as recorded at Reception 534983, Book 886, Page 510 of the
land records, Grand County, Utah.
Exhibit A Ent 535344 Bk 0667 Pg 0369
4835-7949-0715
EXHIBIT B
BORROWER WORK BUDGET
Utah
18-055 PIA
ITEM NO. CONTRACT ITEM UNIT PLAN Unit Cost Total
1 EARTHWORK - EXCAVATION CY 400 $ 15.00 $ 6,000
2 SAWCUT, REMOVAL & DISPOSAL OF ASPHALT PAVEMENT SY 50 $ 40.00 $ 2,000
3 SAWC., REM., & DISP. OF SIDEWALK, CURB & GUTTER SY 4 $ 50.00 $ 200
4 CLEARING, GRUBBING, SUBGRADE PREP SY 1,930 $ 4.00 $ 7,720
5 AGGREGATE BASE COURSE 3/4" (8" DEPTH) CY 400 $ 35.00$14,000
6 ASPHALT PAVEMENT (3 INCH) SY 1,060 $ 25.00 $ 2 6,500
7 CONCRETE CURB & GUTTER LF 540 $ 25.00 $13,500
8 CONCRETE SIDWALK (4' DEPTH) SY 270.0 $10.00 $ 2,700
9 CONCRETE APRON (6' DEPTH) SY 20.0 $15.00 $ 300
$ 7 2,920
REM NO. CONTRACT ITEM UNIT PLAN Unit Cost Tatai
10 B" 5DR-351NCL. TRENCH, BED, BACKFILL LF 305 $ 80.00 $ 2 4,400
1148" DIA. MANHOLE EA 1$ 4,000.00 $ 4,000
12 CONNECT TO EXISTING MANHOLE EA 1$ 3,500.00 $ 3,500
13 4" 5DR-351NC. TRENCH, BED, BACKFILL, CLEANOUT LF 15 $ 60.00 $ 900
$ 3 2,800
ITEM NO. CONTRACT ITEM UNIT PLAN Unit Cast Total
148" C9001NCL TRENCH, BED, BACKFILL LF 560 $100.00 $ 5 6,000
15 8" WATER VALVE EA 3 $ 3,000.00 $ 9,000
168" FITTING (8 TEE, 45 DEG. ELBOW,8x6 REDUCER,CAP) EA 5 $1,000.00 $ 5,000
17 6" C9001NCL TRENCH, BED, BACKFILL LF 40 $ 90.00 $ 3,600
18 6" FITTING (CAP) EA 1$ 800.00 $ 800
19 FIRE HYDRANT ASSEMBLY W/ 6" VALVE EA 1$ 6,500.00 $ 6,500
$80,900
$186,620 x 110°%= $205,282.00
Exhibit B
4835-7949-0715
Ent 535344 Ilk 0887 Pg 0370
CITY OF MOAB RESOLUTION NO.46-2019
A RESOLUTION AUTHORIZING THE EXECUTION OF A RESTATED AND
AMENDED SUBDIVISION IMPROVEMENTS AGREEMENT FOR THE MAPS
SUBDIVISION, PHASE II
The following findings describe the reasons for this resolution and explain its purpose.
a. On March 12, 2019 the City entered into a Subdivision Improvements Agreement (SIA)
with the Housing Authority of Southeastern Utah (HASU) for the Maps Subdivision. A
plat for the subdivision was subsequently recorded.
b. As a result of changes in its financing for the project, HASU has now elected to convey
the subject property to another entity, Moab Senior Living, LLC, which will develop the
project.
c. The parties intend to execute a new SIA in the form attached which will supersede the
original agreement between the City and HASU. Additionally, the SIA includes a Set -
Aside Agreement wherein the lender, Key Bank, will disburse funds from the
construction loan for the construction of the public improvements.
d. HASU consents to the execution of the Restated and Amended Subdivision
Improvements Agreement.
Now therefore, the City of Moab resolves as follows:
The City authorizes the Mayor to execute the attached SIA with Moab Senior Living,
LLC and to accept the Set -Aside Agreement provided by the lender, Key Bank, in the amount of
$205,282.00.
PASSED AND APPROVED by a majority of the City Council, this 27t' day of August,
2019.
By:
Emily S. Niehaus, Mayor Date
PO 9
Attest:
By:. $128/! 9
larder Date
Keen I(trk, Depkhi Reconk,
1