Loading...
HomeMy WebLinkAboutR-1995-174 North 40th Avenue and Kern Way• • RESOLUTION NO. R-95- 174 A RESOLUTION approving the final plat of Professional View West, a seven lot subdivision located at and near the southeast corner of North 40th Avenue and Kern Way, in Yakima, Washington, and authorizing the Mayor to sign the final plat of Professional View West. WHEREAS, this Council has previously reviewed and, subject to certain conditions, by City Ordinance 93-37 approved the application ( City file No UAZO Preliminary Plat #2-93) submitted by the Jamie E. Smith Trust and Gary Lukehart and Mary Lukehart, d/b/a/ Smith-Lukehart Partnership, hereinafter the "Applicant," for a seven lot subdivision located at and near the southeast corner of North 40th Avenue and Kern Way, in Yakima, Washington, which is shown on the proposed final plat for Professional View West, consisting of 1 sheet dated November 28, 1995, and WHEREAS, in accordance with the provisions of Yakima Municipal Code § 14.25 140, and under the terms of the fully executed Agreement to Secure Required Public Improvments, a copy of which is attached as Exhibit A and is incorporated herein by reference, the Applicant has provided the City with West One Bank, Washington letter of credit number STB -71905, a copy of which is attached as Exhibit B and is incorporated herein by reference, to secure actual construction of public improvements which are required for the proposed subdivision, and WHEREAS, at its public meeting on Devember 19, 1995, each Council member declared that he or she had had no contact with either the applicant or supporters or opponents of the preliminary plat, and as this final plat comes before Council for review each member declares that he or she has had no contact with either the applicant or supporters or opponents of the final plat, now, therefore, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF YAKIMA: The proposed final plat for Professional View West, consisting of 1 sheet dated November 28, 1995, showing an seven lot subdivision located at and near the southeast corner of North 40th Avenue and Kern Way, in Yakima, Washington, is hereby approved and the Mayor is hereby authorized to sign the final plat. The final plat for Professional View West shall be filed for record by the Applicant in the Yakima County Auditor's Office immediately, or as soon as possible, and the Applicant shall be responsible for all filing fees. ADOPTED BY THE CITY COUNCIL this 19thday of Daciater , 1995 )011 A 1-1 EST Mayor • Alt)-(-e--v._. 4 J Gt�ly� City Clerk lap\land use/subdivision/platting/professional view west /final plat approval res. 12/8/95 1 48 PM PROFESSIONAL VIEW WEST FINAL PLAT APPROVAL RESOLUTION -- Page 1 West One Bank. Washington International Division WESTONE BANK .November 28, 1995 1301 Fifth Avenue Seattle. Washington 98101 U.S.A. Post Office Box 1987 Seattle, Washington 98111-1987 U.S.A. SWIFT WESTUS55WSH Tex: 185227 WEST ONE Telephone: (206) 585-2288 Fax: (206)622-9613 IRREVOCABLE STANDBY LETTER OF CREDIT NO. STB -71905 EXPIRATION: December 1, 1997 at our counters located at 1301 Fifth Avenue, 22nd Floor, Seattle, WA 98101. This Credit is available with us by payment. BENEFICIARY City of Yakima City Hall Yakima, WA 98901 WE HEREBY ISSUE THIS IRREVOCABLE STANDBY LETTER OF CREDIT ON BEHALF OF Jamie Smith Trust 1320 North 16th Avenue, Suite A Yakima, WA 98902-1390 You are authorized to draw on us your draft at sight up to the aggregate amount of USD 399,624.50(Three Hundred Ninety Nine Thousand Six Hundred Twenty Four US DOLLARS And 50/100) when accompanied by the following documents: Written notification from the City of Yakima, purportedly signed by the City Manager or the City Attorney, stating that required public improvements have not been properly designed or constructed in accordance with City UAZO Preliminary Plat *2-93, City Ordinance No. 93-37, and the Agreement to Secure Required Public Improvements between the Jamie Smith Trust and the City of Yakima. This original Letter of Credit and any subsequent amendments. We hereby agree with the beneficiary that drafts drawn under and in compliance with the teras of this letter of credit will be duly honored on due presentation to us if presented on or before the expiry date. All drafts must be marked "Drawn under West One Bank Washington, letter of credit number STB -71905 dated November 28, 1995 ". SPECIAL INSTRUCTIONS: Please forward all documents to us in one mail. Except so far as otherwise expressly stated, this letter of credit is subject to the "Uniform Customs and Practice for Documentary Credits" (1993 Revision), International Chamber of Comae a 7ublication No. 500. 1, Author zed Signature P Autho iz-d Signature/LAP AGREEMENT TO SECURE REQUIRED PUBLIC IMPROVEMENTS I. PARTIES The Jamie E. Smith Trust and Gary Lukehart and Mary Lukehart, d/b/a/ Smith-Lukehart Partnership, hereinafter the "Developer" and City of Yakima, a municipal corporation of i:he State of Washington, hereinafter the "City." II. RECITALS The Developer has submitted a proposed final plat for a seven -lot subdivision to be known as Professional View West, located at and near the southeast corner of North 40th Avenue and Kern Way, in Yakima, Washington. (See City file No. UAZO Preliminary Plat #2-93). The pre- liminary plat was approved by City Ordinance 93-37. The Developer intends to apply for City Engineering Division approval for design and construction of required public improvements, including without limitation streets, sidewalks, streetlights, sanitary sewer, water mains, and hydrants to serve Professional View West as required by City Ordinance 93-37. In accordance with Yakima Municipal Code § 14.25.140, in order to obtain early final plat approval from the City, the Developer proposes and agrees, in lieu of actual design and construction of the re- quired public improvements prior to final plat approval, to ensure satisfactory design and con- struction of required public improvements by delivering to the City an irrevocable letter of credit in favor of the City of Yakima, which irrevocable letter of credit shall provide, on the City's demand, funds estimated to be sufficient to cover the cost of engineering design services and actual construction of required public improvements. The irrevocable letter of credit and this document have been reviewed and approved by the City Engineer and the City Attorney. III. AGREEMENT The Developer, in consideration of the City's review and approval of the proposed subdivi- sion, and recording of the final plat of Professional View West prior to actual design and con- struction of required public improvements, covenants and agrees as follows: 1. The Jamie Smith Trust, on behalf of the Developer, has delivered Irrevocable Standby Letter of Credit No. STB -71905, dated November 28, 1995 (the "Letter of Credit") from West One Bank, Washington. The Letter of Credit will provide the City with at least Three Hundred Ninety Nine Thousand Six Hundred Twenty Four Dollars and Fifty Cents, ($399,624.50) on demand, said amount being 110% of the estimated cost of design and construction of the public improvements required for the subdivision known as Professional View West. The Developer hereby instructs West One Bank, Washington, that only the City,, not the Developer or J.L. Smith Co., or any officer, agent, or employee of the Developer or J.L. Smith Co., shall be permitted to exercise any control whatsoever over the Letter of Credit. Only the City may exercise any control over the Letter of Credit upon the signature of the City Attorney or the City Manager. 2. The Letter of Credit has been established, in lieu of actual design and construction of the required public improvements or a provision of a surety bond, to ensure proper design and construction of all public improvements required by City Ordinance 93-37 for Professional View West. The Developer shall properly design and construct all required public improve- ments within one (1) year after final plat approval, or within any additionaltime allowed at the sole option of the City Engineer. The Developer's obligation to properly design and con- lap/land use/subdivision/Platting/sec./imps. & rel. lettrs:/smith lukehart - prof view west- 11/30/95 3:32 PM YMC § 14.25.140 AGREEMENT -- Page 1 '°" struct all required public improvements shall constitute a covenant against, and shall run with, all lots and real property contained and described in City No. UAZO Preliminary Plat #2-93, and City Ordinance No. 93-37. 3. If the Developer fails, as the City may in its sole discretion determine, to properly de- sign or construct required public improvements, the City may, upon thirty (30) days written notice to the Developer and the Developer's continued default thereafter, also as determined by the City in its sole discretion, design and/or construct required public improvements and may utilize funds derived from the Letter of Credit for all costs and expenses so incurred. The Letter of Credit allows the City until two years after the date of final plat approval to demand any funds. To the extent the Letter of Credit is not sufficient to cover all reasonable costs and expenses incurred by the City to design and/or construct required public improvements, the Developer agrees to pay such deficiency, and the City shall have a lien against all lots and real property in Professional View West, which lien may be foreclosed as deeds of trust are fore - dosed under Washington law. 4. When the required public improvements have been constructed and approved by the City Engineer, the City shall, through the City Attorney, notify the Developer and West One Bank, Washington in writing that it no longer asserts any interest in the Letter of Credit. The City Attorney may, after substantial portions of required public improvements are approved by the City Engineer and the City's need for security is diminished, acknowledge to WestOne Bank that some amount less than Three Hundred Ninety Nine Thousand Six Hundred Twenty Four Dollars and Fifty Cents, ($399,624.50) would be sufficient to secure actual design and/or construction of required public improvements. But such acknowledgment shall be discretion- ary with the City, and not mandatory. The Developer may request such acknowledgment by the City, but the Developer shall not have any right to demand or force the City such acknow- ledgment. However, the City shall not unreasonably refuse such requests. 5. Upon final approval hereof by the City Attorney, the City may record this Agreement with the Auditor of Yakima County, Washington, at the Developer's expense. DATED this 1 day of ,1995. SMITH-LUKEHART PARTNERSHIP augt klmaino > Elaine Harrison, Trustee, Jamie Smith Trust State of Washington ) )ss: County of Yakima ) I certify that I know or have satisfactory evidence that Elaine Harrison, is the person who ap- peared before me, and said person acknowledged that he signed this instrument, on oath stated that he was authorized to execute the instrument and acknowledged it as the duly au- thorized agent of the Jamie Smith Trust and the Smith/Lukehart Partnership, to be the free and voluntary act of such party for the uses and purposes m ntioned in theinstrument. INV DATED:Decemb, L d T lap/land use/subdivi t� PtdOs.ia JJ1 ARY UBLIC in and for the State of Washington, residing at Yakima My commission expires: September 27,1999 rel. lettrs:/smith lukehart - prof view west- 11/30/95 3:32 PM YMC § 14.25.140 AGREEMENT — Page 2 r L-� SMITH-LUKEHART PARTNERSHIP I certify that I know or have satisfactory evidence that Mary Lukehart, is the person who ap- peared before me, and said person acknowledged that he signed this instrument, on oath stated that he was authorized to execute the instrument and acknowledged it as the duly authorized agent of Smith/Lukehart Partnership, to be the free and voluntary act of such party for the uses and purposes mentioned in the instrument. DATED: December 1,1995 State of Washington County of Yakima Y PUBLIC in and for the tate of Washington, residing at Yakima My commission expires: September 27,1999 �. SMITH-LUKEHART PARTNERSHIP :!'::, y --'%.k • i C t\,',q _")r 2,v 1u'cn' c'�' I certify that I know or hav stvr.n idence that Gary Lukehart, is the person who ap- peared before me, and said perrdowledged. that he signed this instrument, on oath stated that he was authorized to execute the instrument and acknowledged it as the duly au- thorized agent of Smith/Lukehart Partnership, to be the free and voluntary act of such party for the uses and purposes mentioned in the instrument. DATED: December 1,1995 PUBLIC in and for the State of Washington, residing at Yakima _ My commission expires: September 27,1999 lap/land use/subdivision/platting/sec./imps. & rel. lettrs:/smith lukehart - prof view west- 11/30/95 3:32 PM YMC § 14.25.140 AGREEMENT — Page 3 9 CERLINCATE OF IRREVOCABLE LETTER OF CREDIT I certify that I am authorized to act in this matter on behalf of West One Bank, Washington. On behalf of West One Bank, Washington, I certify that West One Bank, Washington Irrevocable Letter of Credit # STB -71905, a true copy of which is attached hereto, has been established in the amount of Three Hundred Ninety Nine Thousand Six Hundred Twenty Four Dollars and Fifty Cents, ($399,624.50) in favor of the City of Yakima according to the terms described above. DATED this 'Clay of Not/10166R ,1995 WEST ONE BANK, WASHINGTON State of Washington )ss: County of Yakima By: Its: 1/ /,o..t. . ���/4Gy► I certify that I know or have satisfactory evidence that Steve Downey is the person who ap- peared before me, and said person acknowledged that he/she signed this instrument, on oath stated that he/she was authorized to execute the instrument and acknowledged it as the Manager of West One Bank, Washington, 522 E. Yakima Ave., Yakima, WA 98901, to be the free and voluntary act of such party for the uses and purposes mentioned in the instrument. DATED: AA—zit-tiL\ �v l jft OTARY PUBLIC ' and Washington, residi g at My commission expires: lap/land use/subdivision/platting/sec./imps. & rel. lettrs:/smith lukehart - prof view west- 11/30/95 3:32 PM YMC § 14.25.140 AGREEMENT -- Page 4 EXHIBIT u