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Home My WebLink About17- Agreement for Payment of Deferred Impact Fees and Notice of Intent to Lien - Vertex Holdings LLC and Boardwalk Properties, Inc. - Lot 1, Block 1, Ferguson Farm Subdivision Return to: City of Bozeman 25839AO City Clerk Page: 1 of 7 06/22/2017 02.23:55 PM PO BOX 1230 IIIIIIII IIIIII III IIII IIIIIII IIIIII IIII IIII IIIII 3411 IIIIIII III III Ils Gallatin C06nty MT Fee: $49.00 Bozeman MT 59771-1230 IIIIIIIIII MISC AGREEMENT FOR THE PAYMENT OF DEFERRED IMPACT FEES AND NOTICE OF INTENT TO LIEN THIS AGREEMENT is made and entered into this j s day of PwYi ,2017, by and between Vertex Holdings LLC, 515 S. Black Ave, Bozeman MT 59715 and Boardwalk Properties, Inc., 101 E. Main Street, Suite D, Bozeman MT 59715 jointly hereinafter called the "Obligor,"and the City of Bozeman, a Municipal Corporation of the State of Montana, hereinafter called the "City." WHEREAS, it is the intent and purpose of the Obligor to meet the requirements of Commission Resolution#4433 to allow the issuance of building permit 16-24712 prior to payment of transportation impact fees required by 2.06.1640 BMC on property located at 730 Boardwalk Avenue and legally described as Lot 1, Block 1, Ferguson Farm Subdivision, City of Bozeman, Gallatin County, Montana. WHEREAS, it is the intent of the Obligor to defer payment of transportation impact fees until occupancy for the construction authorized under building permit 16-24712; and WHEREAS, it is the intent and purpose of both the Obligor and the City to hereby enter into an Agreement which will guarantee the full and satisfactory completion of the required payment;and it is the intent of this Agreement,and of the parties hereto,to satisfy the requirements of the municipal code and Commission Resolution#4433. NOW,THEREFORE, in consideration of the mutual covenants and conditions contained herein, it is hereby agreed as follows: 1. Property Description This Agreement pertains to and includes those properties which are designated and Page 1 of 7 Agreement for Payment of Deferred Impact Fees and Notice of Intent to Lien identified as 730 Boardwalk Avenue and legally described as Lot 1, Block 1, Ferguson Farm Subdivision, City of Bozeman, Gallatin County, Montana. 2. Payment of Deferred Impact Fees This Agreement specifically includes the payment of transportation impact fees calculated for building permit 16-24712, in the amount of$197,091.26 (One Hundred Ninety-Seven Thousand Ninety-One dollars and Twenty-Six cents). Obligor acknowledges that the above impact fee must be paid in full before the Certificate of Occupancy may be issued. Obligor agrees to pay the above stated fee in accordance with this agreement and Commission Resolution #4433 before the structure(s) identified in the building permit referenced above is occupied. 3. Guarantee, Time for Completion of Agreement No occupancy of the structure, either temporary or permanent prior to full payment of the deferred transportation impact fee and completion of this agreement. This agreement constitutes a Notice of Intent to Lien against the property in the event that the deferred impact fees are not paid. Should the fees not be paid the City may without further action record a lien against the property in the full amount of the deferred fees as stated above and for costs required for collection of the deferred fee. 4. Inspection Representatives of the City shall have the right to enter upon the property at any reasonable time in order to inspect it and to determine if the Obligor is in compliance with this Agreement, and the Obligor shall permit the City and its representatives to enter upon and inspect the property at any reasonable time. 5. Default Time is of the essence for this Agreement. If the Obligor shall default in or fail to fully perform any of its obligations in conformance with the time schedule under this Agreement the City may elect to enforce any of the following specified remedies: A) The City may withhold a Certificate of Occupancy and prohibit use of the property. B) The City may, at its option,record a lien against the property. C) The City may enforce any other remedy provided by law or this agreement. 6. Indemnification Page 2 of 7 Agreement for Payment of Deferred Impact Fees and Notice of Intent to Lien The Obligor hereby expressly agrees to indemnify and hold the City harmless for and against all claims, costs and liability of every kind and nature, for injury or damage received or sustained by any person or entity in connection with, or on account of the performance of work at the development site and elsewhere pursuant to this Agreement, or delays in the issuance of a Certificate of Occupancy pursuant to this agreement. The Obligor further agrees to aid and defend the City in the event that it is named as a defendant in an action concerning the performance of work pursuant to this Agreement except where such suit is brought by the Obligor. The Obligor is not an agent or employee of the City. 7. Governing Law and Venue This Agreement shall be construed under and governed by the laws of the State of Montana. In the event of litigation concerning this Agreement, venue is in the Eighteenth Judicial District Court, Gallatin County, State of Montana. 8. Changes in Fee During Deferral Period The fees due at conclusion of the deferral period shall not change from the amount determined in Section 2. In the event the amount of fees due for the category of development for newly submitted projects which is the same category as that which is the subject of this agreement either decreases or increases no change in the amount of fees due from the project will be made unless the project constructs more or less demand generating improvements than originally depicted on the building permit for the work. In the event of non-payment additional fees for collection costs and other fees as established by Resolution 4433 will be charged in addition to the deferred transportation impact fee. 9. Attorney's Fees or Other Fees In the event it becomes necessary for either party to this Agreement to retain an attorney to enforce any of the terms or conditions of this Agreement, then the prevailing party shall be entitled to reasonable attorney's fees and costs, to include the salary and costs of in-house counsel including City Attorney. Other fees and costs may be incurred as set forth in Resolution 4433 relating to the enforcement of this agreement. 10. Modifications or Alterations No modifications or amendment of this Agreement shall be valid, unless agreed to in writing by Page 3 of 7 Agreement for Payment of Deferred Impact Fees and Notice of Intent to Lien the parties hereto. 11. Invalid Provision The invalidity or unenforceability of any provision of this Agreement shall not affect the other provisions hereof, and this Agreement shall be construed in all respects as if such invalid or unenforceable provision were omitted. 12. No Assignment It is expressly agreed that the Obligor shall not assign this Agreement in whole, or in part,without prior written consent of the City. 13. Successors Except as provided in paragraph 10,this Agreement shall be binding upon, enure to the benefit of, and be enforceable by the parties hereto and their respective heirs, successors and assigns. ####END OF AGREEMENT EXCEPT FOR SIGNATURES#### Page 4 of 7 Agreement for Payment of Deferred Impact Fees and Notice of Intent to Lien CORPORATION Vertex Holdings LLC STATE OF MONTANA ) )Ss. County of Gallatin ) On this Zz day of �w� , 2017, before me, the undersigned, a Notary Public for the State of �iJ,,,,E,,..._ , personally appeared Matthew Paine known to me to be the 1,3-e s. of Vertex Holdings LLC, the corporation that executed the within instrument, and acknowledged to me that he executed the same for and on behalf of said corporation. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my Notarial Seal the day and year first above written. CONNIE S MATOLYAK Notary Public �SL�'A�) oT RiAt,7-for the State of Montana Rosldlna at, Notary Public for the State of Montana Bozonnan, Montana Residing at Bozeman 9�OFMo�P` My Commission Expire6: January 22,2018 My Commission Expires Page 5 of 7 Agreement for Payment of Deferred Impact Fees and Notice of Intent to Lien CORPORATION M is L\A ce ��c�v�oc� v e . Boardwalk Properties, Inc. STATE OF MONTANA ) )ss. County of Gallatin ) On this 21 day of T'X-0 e— , 2017, before me, the undersigned, a Notary Public for the State of M +�,.._ ,personally appeared Michael W Delaney, known to me to be the �y�a of Boardwalk Properties, Inc., the corporation that executed the within instrument, and acknowledged to me that he executed the same for and on behalf of said corporation. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my Notarial Seal the day and year first above written. CONNIE S MATOLYAK Notary Public o��oTnra�q<:vim:for the State of at: ontana ResidingNotary Public for the State of Montana * SEAL. Q Bozeman, Montana P Residing at Bozeman 'Ny : M Commission Expires: January 22,2oi s My Commission Expires Page 6 of 7 Agreement for Payment of Deferred Impact Fees and Notice of Intent to Lien HE EMA rt N n M sen Community Development Director. STATE OF MONTANA ) )ss. County of GALLATIN ) On this day \a of V`� , 2017, before me, a Notary Public for the State of Montana, personally appeared Martin Matsen, known to me to be the person described in and who executed the foregoing instrument as Community Development Director of the City of Bozeman, whose name is subscribed to the within instrument and acknowledged to me that she executed the same for and on behalf of said City. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my Notarial Seal the day and year first above written. •"' "' ' S ANNON KLOOSTERHOF No ary Public for the State of Mon na Residing at ?6D_fyN cu)A '�o`'• :`r�s'-, Notary Public aolnaiA4"; :for the State of Montana My Commission Expires: 3 'aO2 1 Residing at: �— *' Bozeman, Montana (Use four digits for expiration year) 9 P >.,�pF•M�� My Commission Expires: March 17,2021 Page 7 of 7