HomeMy WebLinkAboutR-1995-174 North 40th Avenue and Kern Way•
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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
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A 1-1 EST Mayor
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City Clerk
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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-
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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
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PtdOs.ia JJ1
ARY UBLIC in and for the State of
Washington, residing at Yakima
My commission expires: September 27,1999
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YMC § 14.25.140 AGREEMENT — Page 2
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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
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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
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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:
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YMC § 14.25.140 AGREEMENT -- Page 4 EXHIBIT
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