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HomeMy WebLinkAbout22- Annexation Agreement - SiloInter-officeOrieinalto: CityofBozeman CityClerk PO Box 1230 Bozeman MT 549771-1230 2793685 s a -c.?Nii2Ën³'h°°"""**d ||||111||||||||||||||¡¡¡l||||||111|||||||||111|||1||||1|||||||||11111||||11 sito ANNEXATION AGREEMENT THIS AGREEMENT made and entered intothis |É day of û/Em Es.1R , 2022,by and between the CITY OF BOZEMAN,a self-governingmunicipal corporation organized and existingunder itsCharterand the laws of the Stateof Montana with officesat 121 N.Rouse Avenue,Bozeman,Montana 59771-0640,hereinafterreferredto as "City",and Virga Venture IILLC,PO Box 1070,Bozeman MT 59771,hereinafterreferredto as "Landowner". W IT N E S S E T H: WHEREAS,Landowner is owner in fee of a tractof certainrealproperty,hereinafter referredto as the SILO ANNEXATION situatedin Gallatin County,Montana,and more particularlydescribedas follows: An area of land comprised describedas follows: Three parcelsof land asdescribedinWarranty Deed document number 2736653 Parcel 1 and Parcel2 and the parceldescribedin Warrant Deed document number 2736654; situatedintheNE 1/4of Section27,Township 1 South,Range 5 East,Principal Meridian,GallatinCounty,Montana,and being more particularlydescribedas follows: Commencing atthe E 1/4of Section 27,Township 1 South,Range 5 East,thence N.0°36'43"E.a distanceof 189.78 feetto the Point of Beginning being thenortheast cornerof Tract 1 of Certificateof Survey No.3035;thenceN.0°36'43"E.a distanceof 464.88 feetalong theeastlineof saidSection27 to thesouth lineof highway rightof way SILO Annexation Agreement 1 per Bargain and SaleDeed Book 145,Page 293;thenceN.89°23'17"W.along saidright of way a distanceof 50.00 feet;thence N.0°36'43"E.a distanceof 195.38 feet;thence along a non-tangentcurve tothelefthaving a radiusof 523.09 feetand a centralangleof 17°34'16"foran arelengthof 160.42 feet,saidcurve having a chord bearingof N.9°16'00"W.for 159.79 feettothesouthwest lineof highway rightof way per Bargain and Sale Deed Film 143,Page 643;thence N.33°51'43"W.a distanceof 120.68 feet; thence N.53°32'27"W.a distanceof 1350.11 feet;thence N.39°33'03"W.a distanceof 62.05 feet;thenceN.53°32'27"W.a distanceof 302.20 feet;thence N.54°16'17"W.a distanceof 147.56 feet;thence along a non-tangentcurve tothe lefthaving a radiusof 1849.86 feetand a centralangle of 11°37'40"foran arelengthof 375.42 feet,saidcurve having a chord bearingof N.61°36'08"W.for374.77 feet;thence N.82°50'39"W.a distanceof 59.79 feet;thence along a non-tangentcurve to thelefthaving a radiusof 1834.86 feetand a centralangle of 19°20'05"foran arelengthof 619.18 feet,saidcurve having a chord bearingof N.78°53'01"W.for616.25 feet;thence S.0°36'05"W.a distance of 2552.36 feetalong themid sectionlineof Section27 to theC 1/4 of Section27; thence N.89°29'32"E.a distanceof 2221.92 feetalong the mid sectionlineof Section27 to southwest cornerof Tract 1 of Certificateof Survey No.3035;thence N.0°36'43"E.a distanceof 189.74 feet;thence N.89°29'25"E.a distanceof 420.77 feetto the Point of Beginning containing114.69 acresmore or less. All as depictedon the SILO Annexation Map. WHEREAS,the Landowner petitionedthe City for annexation to the City of the SILO ANNEXATION;and WHEREAS,the SILO ANNEXATION isnot within the corporatelimitsof the City or othermunicipalityand may thereforebe annexed to the City in accordance with theprovisionsof thisAgreement and Title7,Chapter 2,Part46,Mont.Code Ann.;and WHEREAS,allpartiesrecognize the annexation of the SILO ANNEXATION pursuant to Section 7-2-4601,etseq.,Mont.Code Ann.willallow the SILO ANNEXATION to connect to and utilizeCity services,includingmunicipal water and sewer service,parks and recreation,fire and policeservices,and theCity'stransportationsystem;and WHEREAS,Section 7-2-4610,Mont.Code Ann.provides that a municipality and landowner can agree totheprovisionsof servicestotheareatobe annexed;and SILO Annexation Agreement 2 WHEREAS,the partiesrecognize additionaldevelopment on the SILO ANNEXATION will impact area parks,recreation,transportation,police,and fireservices,and that future improvements may require additional public infrastructurestreet improvements including transportationfor trafficcirculationand the provisions of parks,recreation,police,and fire services;and WHEREAS,the Landowner findsthisAgreement willprovide forthe most satisfactory and dependable water supply and sewer supply or service,and provide transportation,parks, recreation,policeand fireservicefordevelopment of the SILO ANNEXATION;and WHEREAS,the partieshave determined thatitis in the best interestsof the City and Landowner,and infurtheranceof the publichealth,safetyand welfare of the community to enter intoand implement thisAgreement. WI T NE S S E T H: IN CONSIDERATION of the mutual covenants and agreements herein contained,the partiesheretoagree as follows: 1.Recitals The above recitalsaretrueand correct. 2.Annexation The Landowner filedan applicationforannexation of the SILO ANNEXATION with the City on November 11,2021.By executionof thisAgreement,theCitymanifestsitsintenttoannex the SILO ANNEXATION tractpursuant to the terms and conditionsof thisAgreement.Subject totheprovisionsof Title7,Chapter 2,Part46,Mont.Code Ann.the City shall,upon executionof thisAgreement,adopt a Resolution of Annexation of the SILO ANNEXATION.Further,upon the execution of thisAgreement,the Landowner shalldo allthingsrequiredby thisAgreement SILO Annexation Agreement 3 and allthingsnecessary and proper to aid and assistthe Cityin carryingout theterms,conditions and provisionsof thisAgreement and to effectthe annexationof the SILO ANNEXATION. 3.Services Provided The City will,upon annexation,make availabletothe SILO ANNEXATION existingCity servicesonly to the extentcurrentlyavailable,or asprovided inthisAgreement. 4.Municipal Water Service Defined The term "municipalwater service"as isused in thisagreement shallbe the servicewhich issuppliedby the City in accordance with Chapter 40,Article2,Bozeman Municipal Code,as amended,as well as any other terms and conditionswhich apply to the City'sprovision of municipal water servicebut does not includethe extensionof linesor constructionof necessary improvements atany costtotheCityfordeliveryof waterto and withinthe SILO ANNEXATION. Nothing inthisAgreement shallobligatetheCity topay forright-of-wayacquisition,engineering, construction,and othercostsforthe deliveryof water to or within the SILO ANNEXATION to include,but not limitedto,any impact fees,hook-up,connection,or development charges which have been or may be establishedby the City. 5.Municipal Sewer Service Defined The term "municipal sewer service"as isused inthisAgreement shallbe theservicewhich is suppliedby the City in accordance with Chapter 40,Article3,Bozeman Municipal Code,as amended,as well as any otherterms and conditionswhich apply to the City'sprovisionof this servicebut does not includethe extensionof linesor constructionof necessary improvements at any costto the City forcollectionof sewage atand withintheSILO ANNEXATION.Nothing in this Agreement shall obligate the City to pay for right-of-way acquisition,engineering, construction,and other costs for the collectionof sewage servicesto or within the SILO SILO Annexation Agreement 4 ANNEXATION to include,but not limited to,any impact fees,hookup,connection,or development charges which may be establishedby the City. 6.Water Rights The Landowner specificallyrecognizes and agrees the Landowner must provide water rightsor cash in-lieuof water rightsupon furtherdevelopment or subdivisionof the propertyin accordance with Section 38.410.130,Bozeman Municipal Code.The City will calculatethe amount ofwater rightsorcash-in-lieuthereofdue atthetime of furtherdevelopment or subdivision of the property based on the annual demand forvolume of water the development willrequire multipliedby themost currentannual unitpriceineffecton thedatethewater rightsaretransferred or payment-in-lieuofwater rightsistobe made totheCity.As such,theLandowner acknowledges thatthe ratesforcash in-lieuof water rightsmay increaseover time as establishedby Resolution of theCity Commission.The applicantmust perform a water rightssearchtodetermineifany exist forthisproperty.The Landowner must transferany water rightsthatexistforthispropertytothe City of Bozeman priorto development thatthe City of Bozeman determines are usefulfor City purposes.Ifinsufficientwater rightsexist,theLandowner must pay cash inlieuof water rights,in an amount determined by theDirectorof PublicService,priorto development. 7.Comprehensive Water and Water Design Report Priorto futuredevelopment of the propertythe City may requirethe Landowner to have prepared by a ProfessionalEngineer,atLandowner's soleexpense,a comprehensive designreport evaluatingexistingcapacity of sewer and water utilitiesin the area.The reportmust include hydraulic evaluationsof each utilityfor both existingand post-development demands,and the reportfindingsmust demonstrate adequate capacityto servethe fulldevelopment of the land.If adequate infrastructurecapacityisnot availablefor the proposed development,the reportmust SILO Annexation Agreement 5 identifywater or wastewater system improvements necessary forthe proposed development.If improvements to thiswater or wastewater system are necessary,the Landowner agreespriorto development of the SILO ANNEXATION to complete,at Landowner's expense,the necessary system improvements to servetheproposed development. 8.Future Development Limitations The Landowner shallbe responsiblefor installingallfacilitiesrequiredto provide full municipal servicesto the property in accordance with the City'sInfrastructureMaster Plans and all City regulations,policiesand guidelinesthat may be in effectat the time of any future development.Thus,Landowner understandsand agreesLandowner has no right,eithergrantedor implied,foritto furtherdevelop any of the SILO ANNEXATION untilitisverifiedby the City thatthenecessarymunicipal services,includingbut not limitedtopoliceand fireprotection,parks and recreation,transportation,and sewer and water capacity,areavailabletoallor a portionof the SILO ANNEXATION.Notice is thus provided to the Landowner that prior to additional development of the property,the Landowner will be solely responsible for installing,at Landowner's sole expense,any facilitiesor infrastructurerequired to provide fullmunicipal servicesto the SILO ANNEXATION in accordance with the City'sinfrastructureplans,adopted Growth Policies/Community Plans,and allothercityregulations,policiesand guidelinesthatmay be in effectatthe time of development. 9.Stormwater Master Plan Landowner understands and agrees a Stormwater Master Plan for the SILO ANNEXATION for a system designed to remove solids,oils,grease,and otherpollutantsfrom the runofffrom publicstreetsand otherimpermeable surfacesmay be requiredto be provided to and approved by the City Engineer at the time of any future development.The plan must SILO Annexation Agreement 6 demonstrate thatadequatetreatmentof runofffrom publicstreets,otherimpermeable surfaces,and allfuturelotswillbe achieved by providing spot elevations,flow directionarrows,detention and/orretentionbasindetails(includingbasinsizingcalculationsand basintypicalsections),outlet structuredetails,and culvertcapacity calculations.The plan must also locate and provide easements foradequatedrainageways withintheSILO ANNEXATION totransporttreatedrunoff tothe stormwater receivingchannel.The plan shallincludesitegrading and elevationinformation, typical stormwater detention/retentionbasin and discharge structuredetails,basin sizing calculations,and stormwater maintenance plan.Landowner recognizestheCity may requiresuch Stormwater Master Plantobe implemented in allorpartasa conditionof approval ofdevelopment of the SILO ANNEXATION. 10.Waiver of Right-to-ProtestSpecial Districts A.Landowner shallexecute a Waiver of Right-to-ProtestCreationof SpecialDistricts (SID)or Special Improvement Districtsfor streetand transportationimprovements including design and engineering,paving and subsurface improvements,curb and gutter,sidewalk and stormwater drainagefacilities,and fiberopticconduitforE.Valley Centerroad,Ferguson Avenue, and Davis Lane and signalizationimprovements forthefollowingintersections:a)Davis Lane and E.Valley Center Road as setforthinExhibit"A".The Landowner agrees such SID willprovide a mechanism forthe fairand equitableassessment of constructionand maintenance costsforsuch improvements.The waiver isattachedheretoas Exhibit "A"and ishereby incorporatedin and made a partof thisAgreement. B.Landowner agreesthatinthe event a specialdistrictor an SID isnot utilizedforthe completion of these improvements as described in subsection A above,the Landowner shall participatein an alternativefinancingmethod forthe completion of the improvements on a fair SILO Annexation Agreement 7 share,proportionatebasisas determined by theCity on thebasisof the square footageofproperty, taxable valuationof the property,trafficcontributionfrom the development or a combination thereof. C.Landowner understands and agrees thatthe City will choose creationof a SID or specialdistrictor an alternativefinancingmethod forthecompletion of theimprovements and may use eitherfinancingoptionatany time. 11.Public Streetand UtilityEasement The Landowner understands and agreesthata publicstreetand utilityeasement must be provided concurrent with signature of this agreement for Davis Lane adjacent to the SILO ANNEXATION to include the southern halfof the 100 footrequired rightof way for a minor arterialfrom the existing centerline;for E.Valley Center Road adjacent to the SILO ANNEXATION to includethe southern halfof the 120 footrequiredrightof way fora principal arterialfrom the existingcenterline;and a 25 footwide City standardpublic accesseasement for a multi-usepath adjacentto the frontageof E.Valley Center Road.The Landowner,atitssole expense,has createdsuch easements ina locationand form agreeableto theCity and the easement willbe filedattheGallatinCounty Clerk and Recorder's Office. The Landowner furtherunderstands and agrees thatadditionalpublic streetand utility easements may be requiredfor deliveryof municipal serviceswith futuredevelopment and such easement shallbe provided atthe Landowner's soleexpense.A rightof way forFerguson Avenue with a width of 90 feetfor a collectorand aligning with Ferguson Avenue to the south and intersectingwith E.Valley Center Road in a locationapproved by the City of Bozeman and Montana Department of Transportationmust be provided with futuredevelopment. SILO Annexation Agreement 8 12.StreetImprovements The Landowner understandsand agreesthatatthe time of futuredevelopment theportion of the SILO ANNEXATION and itsrelatedtransportationinfrastructurefrontingthe SILO ANNEXATION thispropertymust be improved to a City standardatLandowner's expense. 13.Impact Fees Landowner acknowledges thatannexation and development of theirpropertywillimpact theCity'sexistingstreet,water and sewer infrastructure,and the City'sfireservice.As approved by the City,the Landowner and itssuccessorsmust pay: A)Fire impact fees equal to the amount per Chpt.2,Art.6.Div.9 BMC,or as amended,attime of issuanceof a buildingpermit. B)Transportationimpact feesequal to the amount per Chpt.2,Art.6.Div.9 BMC, or as amended,attime of issuanceof a buildingpermit. C)Water impact feesas requiredby Chpt.2,Art.6.Div.9 BMC,or as amended,at thetime of connectionto citywater services. D)Sewer impact feesas requiredby Chpt.2,Art.6.Div.9 BMC,or as amended,at thetime of connectionto citysewer services. The amount of impact feethe Landowner or itssuccessorspay forconnectiontothecity's water and sewer services,ifany,shallbe calculatedbased on the provisionsof the Bozeman Municipal Code,as amended,in effectat the time of applicationfor a permit to connect.The amount of streetor fireimpact feestobe paid,ifany,shallbe calculatedbased on the provisions of the Bozeman Municipal Code,as amended,in effectat the time an applicationforbuilding permit issubmitted. Landowner furtherunderstands and agrees thatany improvements,eitheron-siteor off- site,necessaryto provide connection of the SILO ANNEXATION municipal servicesand which are wholly attributableto the property as determined exclusivelyby the City are considered "projectrelatedimprovements"as definedinChapter 2,Article6,Division9,Bozeman Municipal Code,as amended,and as such,arenot eligibleforimpact fee credits. SILO Annexation Agreement 9 IfLandowner defaultson thisconditionat the time such isto be performed,and should defaultnot be remedied or correctedwithin thirty(30)days afterwrittennoticeby City to the Landowner and Landowner/Developer of such default,City may atitsoption: A)Declare the amounts owing for impact fees immediately due and payable and City shallhave the rightand privilegeto take legal action against Landowners for the collectionof such sum,including the entry of any judgment.In addition,the City may,atitsoption,enforcepayment of such amount by levyingan assessment on the property. B)Elect any other remedy availableto City under the laws of the Stateof Montana. 14.Assessments Landowner understandsand agreesthatafterthisAgreement isrecordedthe SILO ANNEXATION willbe subjectto City assessments forarterialand collectorstreets,street maintenance,and treemaintenance on the same basisas allotherpropertiesin the City. 15.Additional Terms The partiesrecognizethesedocuments must be filedand ofrecordwith theGallatinCounty Clerk and Recorder priorto the saleof any land within the SILO ANNEXATION.The parties furtheragree thatthe City may filethesedocuments atany time. 16.Governing Law and Venue This agreement shallbe construedunder and governed by thelaws of thestateof Montana. In the event of litigation,venue isinthe EighteenthJudicialDistrictCourt,in and forCounty of Gallatin,Stateof Montana. 17.Attorney's Fees SILO Annexation Agreement 10 In the event itbecomes necessary for eitherpartyto thisAgreement to retainan attorney to enforce any of the terms or conditionsof thisAgreement,then the prevailingparty shallbe entitledto reasonableattorney'sfeesand costs,toincludethe salaryand costsof in-housecounsel includingCity Attorney. 18.Waiver No waiver by eitherparty of any breach of any term,covenant or agreement shallbe deemed a waiver of the same or any subsequent breach of thissame or any otherterm,covenant or agreement.No covenant,term or agreement shallbe deemed waived by eitherparty unless waived inwriting. 19.Invalid Provision The invalidityor unenforceabilityof any provisionof thisagreement shallnot affectthe otherprovisionshereof,and thisAgreement shallbe construedinallrespectsas ifsuch invalidor unenforceableprovisionwere omitted. 20.Modifications or Alterations No modificationsor amendment of thisAgreement shallbe validunless evidenced by a writingsigned by the partieshereto. 21.No Assignment Itisexpresslyagreed thatthe Landowner and/or Landowner/Developer shallnot assign thisAgreement inwhole or inpartwithout priorwrittenconsentof the City. 22.Successors SILO Annexation Agreement 11 This Agreement shallbe binding upon,inureto the benefitof and be enforceableby the partiesheretoand theirrespectiveheirs,successorsand assignsand specificallytoany subsequent purchaser of theannexed property. 23.Covenants to Run with the Land The partiesintendthattheterms ofthisAgreement shallbenefittheSILO ANNEXATION and shallbe covenants running with the land and shallnot expireattheirdeathsor upon transfer of ownership of theproperty. The undersigned Landowner affirmsthatthey have authorityto enterintothisAgreement and to bind themselves tothisAgreement. IN WITNESS WHEREOF,the partiesheretohave caused thisagreement to be executedthe day and year firstabove written. SILO Annexation Agreement 12 LANDOWNER VIRGA VENTURE IILLC By:Robert Lateiner Its: STATE OF MONTANA ) :ss COUNTY OF GALLATIN ) On this iÎ9 day of 24f ,2022,beforeme,the undersigned,a Notary P lblicforthe Stateof Montana,personallyappeared Robert Lateiner,as <;&f-of Virga C-apita+known tome tobe thelandowner thatexecuted the within in¼rument,and acknowledged to me thatthey executed the same forand on behalfof landowner. IN WITNESS WHEREOF,I have hereunto setmy hand and affixedmy officialsealthe day and year firstabove written. (SEAL) (PrintedName Here) .N TA Y B C t e Notary Publicforthe Stateof r stateofMontana Residing at yngwcw MT *SEAL * Boze an,Montana My Commission xpires:C4bOL ZOLC Wó;My Commission Expires (Use 4 digitsforexpirationyear) August 01,2025 SILO Annexation Agreement 13 CITY OF BOZEMAN B -Je ihelich,City Manager ATTEST: City Clerk STATE OF MONTANA ) :ss COUNTY OF GALLATIN ) On this IØ day of N DV trY1DU ,2022,before me,a Notary Publicforthe stateof Montana,personallyappeared JeffMihelich and Mike Maas,known tome tothe persons describedin and who executed the foregoinginstrumentas City Manager and City Clerk respectively, of the City of Bozeman,whose names aresubscribedto thewithininstrumentand acknowledged to me thatthey executed the same forand on behalfof saidCity. IN WITNESS WHEREOF,Ihave hereunto setmy hand and affixedmy officialsealthe day and year firstabove written. (SEAL) (Printed ame Here) TAYLOR CHAMBERS Notary Publicforthe Stateof Montana forthestateofMontana Residing at 67 On CLn *S Boze o tana anu 202 SILO Annexation Agreement 14 EXHIBIT "A" WAIVER OF RIGHT TO PROTEST CREATION OF SPECIAL DISTRICT OR SPECIAL IMPROVEMENT DISTRICTS SILO ANNEXATION The undersigned owner of therealpropertysituatedinthe County of Gallatin,Stateof Montana, and more particularlydescribedas follows: Three parcelsof land as describedinWarranty Deed document number 2736653 Parcel 1 and Parcel2 and the parceldescribedinWarrant Deed document number 2736654;situatedinthe NE 1/4of Section27,Township 1 South,Range 5 East,PrincipalMeridian,GallatinCounty, Montana,and being more particularlydescribedas follows: Commencing atthe E 1/4of Section27,Township 1 South,Range 5 East,thenceN.0°36'43"E. a distanceof 189.78 feetto the Point of Beginning being thenortheastcornerof Tract 1 of Certificateof Survey No.3035;thenceN.0°36'43"E.a distanceof 464.88 feetalong theeast lineof saidSection27 tothesouth lineof highway rightof way per Bargain and Sale Deed Book 145,Page 293;thenceN.89°23'17"W.along saidrightof way a distanceof 50.00 feet; thence N.0°36'43"E.a distanceof 195.38 feet;thence along a non-tangentcurve to the left having a radiusof 523.09 feetand a centralangleof 17°34'16"foran arelengthof 160.42 feet, saidcurve having a chord bearingof N.9°16'00"W.for 159.79 feetto the southwest lineof highway rightof way per Bargain and SaleDeed Film 143,Page 643;thenceN.33°51'43"W.a distanceof 120.68 feet;thence N.53°32'27"W.a distanceof 1350.11 feet;thence N.39°33'03"W.a distanceof 62.05 feet;thenceN.53°32'27"W.a distanceof 302.20 feet;thence N.54°16'17"W.a distanceof 147.56 feet;thence along a non-tangentcurve tothelefthaving a radiusof 1849.86 feetand a centralangleof 11°37'40"foran arelengthof 375.42 feet,said curve having a chord bearing ofN.61°36'08"W.for374.77 feet;thenceN.82°50'39"W.a distanceof 59.79 feet;thence along a non-tangentcurve to the lefthaving a radiusof 1834.86 feetand a centralangle of 19°20'05"foran arclengthof 619.18 feet,saidcurve having a chord bearing of N.78°53'01"W.for616.25 feet;thence S.0°36'05"W.a distanceof 2552.36 feet along themid sectionlineof Section27 totheC 1/4 of Section27;thenceN.89°29'32"E.a distanceof 2221.92 feetalong themid sectionlineof Section27 tosouthwest cornerof Tract I of Certificateof Survey No.3035;thence N.0°36'43"E.a distanceof 189.74 feet;thence N.89°29'25"E.a distanceof 420.77 feetto the Point of Beginning containing114.69 acres more or less. IN CONSIDERATION of receivingapproval forannexation of the subjectproperty from the City of Bozeman,along with accompanying rights and privilegesand for other and valuable consideration,the receiptof which ishereby acknowledged,and in recognitionof the impacts to E. Valley Center from Hidden Valley Road toN.27th Avenue,Ferguson Avenue from E.Valley Center to SILO Annexation Agreement 15 Catamount Street,and Davis Lane from E.Valley Center to Baxter Lane AND the intersectionof E. Valley Center and Davis Lane which will be caused by the development of the above-described property,the owner has waived and does hereby waive foritself,itssuccessorsand assignsforeverthe rightto protestthe creationof one or more specialdistrictsor specialimprovement districtsfor the design and engineering,construction and maintenance of following improvements:lighting, signalization/channelization,paving and subgrade material,fiberopticconduit,curb/gutter,sidewalk, storm drainagefacilitiesfor: A)E.Valley Center from Hidden Valley Road to N.27th Avenue, B)Ferguson Avenue from E.Valley Center to Catamount Street, C)Davis Lane from E.Valley Center toBaxter Lane,and D)the intersectionof E.Valley Center and Davis Lane. Landowner agrees the City has the sole rightto controlthe design and constructionof such improvements and may include any of the above components and others necessary to ensure such improvements comply with all adopted City infrastructureplans and requirements.Further,the Landowner waives itsrightor to make any writtenprotestagainstthe sizeor area or creationof the districtbe assessed in response to a duly passed resolutionof intentionto createone or more special improvement districtswhich would includethe above-describedproperty. In the event a specialdistrictor specialimprovement districtisnotutilizedforthecompletion of these improvements,the developer agrees to participatein an alternatefinancing method for the completion of saidimprovements on a fairshare,proportionatebasisas determined by the City on the basisof the square footageof property,taxablevaluationof the property,trafficcontributionfrom the development or a combination thereof.Landowner understands and agrees thatthe City willchoose SILO Annexation Agreement 16 creationof a SID or specialdistrictor an alternativefinancing method for the completion of the improvements and may use eitherfinancingoptionatany time. This waiver ismade forthe benefitof the propertydescribedhereinshallbe a covenant running with the land. The terms,covenants and provisionsof thiswaiver shallextend to,and be binding upon the successors-in-interestand assignsof theLandowner. DATED this /5^day of horcetseR ,2022. SILO Annexation Agreement 17 LANDOWNER VIRGA VENTURE II LLC By:Robert Lateiner Its: STATE OF MONTANA ) :ss COUNTY OF GALLATIN ) On this day of L1 ,2022,before ,the undersigned,a Notary Public forthe Stateof Montana,personallyappeared Robert Lateiner,as ActQr of Virga -apitalknown to me tobe the landowner thatexecuted thewithin instru nt,and acknowledged to me hat they executed the same forand on behalfof landowner. deAÜE I LM- IN WITNESS WHEREOF,Ihave hereunto setmy hand and affixedmy officialsealthe day and year firstabove written. (SEAL) 9Scut é 5 cV É\½ (PrintedName Here) Notary PublicfortheStateof s TARY PU B C forthe Residing at hMtVOA\Mdv« stateofMontana My CommissionMxpires:cJçS f)(202 *.SEAL *Boze an Montana (Use 4 digitsforexpirationyear) 44 .My Commission Expires OFM August01,2025 SILO Annexation Agreement 18