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HomeMy WebLinkAbout24 - Annexation & Lot Mergers - Luke Welborn - 2320 West Babcock Annexation2841054 ..IllII|l|lllllllll|lllll|lllll|ll#lllll|llllIllIlllIIlllIlllllll Inter-officeOnenal to: CityofBozeman CityClerk PO Box 1230 Bozeman,MT 549771-1230 2320 WEST BABCOCK ANNEXATION AGREEMENT THIS AGREEMENT made and enteredintothis day of , 2024,by and between the CITY OF BOZEMAN,a self-governingmunicipal corporation organized and existingunder itsCharter and the laws of the Stateof Montana with officesat 121 N.Rouse Avenue,Bozeman,Montana 59771-0640,hereinafterreferredto as "City",and Luke Welborn,PO Box 6507,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 referredtoas the 2320 WEST BABCOCK ANNEXATION situatedin GallatinCounty,Montana, and more particularlydescribedas follows: An areaof land comprised describedas follows: Tracts of land being the parcel shown per Film 24,Page 425,and the parcel conveyed on Film 24,Page 426 locatedin the SE 1/4 of Section 11,Township 2 South,Range 5 East,P.M.M.,GallantCounty,MT,more particularlydescribedas follows; 2320 WEST BABCOCK Annexation Agreement,Application24106 1 2841054 Page 2 of 17 12/12/2024 09:39:47 AM Beginning ata calculatedpointon the centerof sectionlineof saidSection 11 from which a Brass cap in a monument box being the centerone-quartercornerof said Section 11,bears S 89°31'53"W a distanceof 600.25 feet; thence along saidcenterof sectionlineN 89°31'53"E,a distanceof 389.82 feetto a calculatedposition; thence leavingsaidcenterof sectionlineS 00°05'03"W,a distanceof 312.81 feet to a 2.5"Swart Brass Cap; thence S 89°18'24"W,a distanceof 230.39 feetto a calculatedposition;thence N 00°09'32"E,a distanceof 29.08 feetto a 2.5"Swart Brass Cap; thence S 89°18'43"W,a distanceof 161.14 feetto a calculatedposition; thence N 00°25'01"E,a distance of 285.27 feet to the Point of Beginning, containing2.705 acresmore or less. SUBJECT to alleasements of record or apparentfrom visualinspectionof the property. All as depictedon the 2320 WEST BABCOCK Annexation Map. WHEREAS,the Landowner petitionedthe City for annexation to the City of the 2320 WEST BABCOCK ANNEXATION;and WHEREAS,the 2320 WEST BABCOCK ANNEXATION is not within the corporate limitsof 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,all parties recognize the annexation of the 2320 WEST BABCOCK ANNEXATION pursuant to Section 7-2-4601,et seq.,Mont.Code Ann.will allow the 2320 WEST BABCOCK ANNEXATION to connect to and utilizeCity services,includingmunicipal water and sewer service,parks and recreation,fireand policeservices,and theCity'stransportation system;and WHEREAS,Section 7-2-4610,Mont.Code Ann.provides that a municipality and landowner can agree totheprovisionsof servicesto the areato be annexed;and 2320 WEST BABCOCK Annexation Agreement,Application24106 2 2841054 Page 3 of 17 12/12/2024 09:39:47 AM WHEREAS,thepartiesrecognizeadditionaldevelopment on the2320 WEST BABCOCK ANNEXATION willimpact area parks,recreation,transportation,police,and fireservices,and that future improvements may require additionalpublic infrastructurestreetimprovements includingtransportationfortrafficcirculationand the provisionsof parks,recreation,police,and fireservices;and WHEREAS,the Landowner findsthisAgreement willprovide forthe most satisfactory and dependable water supply and sewer supply or service,and provide transportation,parks, recreation,police and fire service for development of the 2320 WEST BABCOCK ANNEXATION;and WHEREAS,the partieshave determined thatitisin the best interestsof the City and Landowner,and in furtheranceof the publichealth,safetyand welfare of the community to enter intoand implement thisAgreement. W I T N E S S E T H: IN CONSIDERATION of the mutual covenants and agreements herein contained,the partiesheretoagree as follows: 1.Recitals The above recitalsare trueand correct. 2.Annexation The Landowner filed an applicationfor annexation of the 2320 WEST BABCOCK ANNEXATION with the City on February 27,2024.By executionof thisAgreement,the City manifests itsintentto annex the 2320 WEST BABCOCK ANNEXATION tractpursuant to the terms and conditionsof thisAgreement.Subjectto the provisionsof Title7,Chapter 2,Part46, 2320 WEST BABCOCK Annexation Agreement,Application24106 3 2841054 Page 4 of 17 12/12/2024 09:39:47 AM Mont.Code Ann.the City shall,upon execution of this Agreement,adopt a Resolution of Annexation ofthe 2320 WEST BABCOCK ANNEXATION.Further,upon the executionof this Agreement,theLandowner shalldo allthingsrequiredby thisAgreement and allthingsnecessary and proper to aid and assistthe City in carryingout the terms,conditionsand provisionsof this Agreement and to effectthe annexation ofthe2320 WEST BABCOCK ANNEXATION. 3.Services Provided The City will,upon annexation,make available to the 2320 WEST BABCOCK ANNEXATION existingCity servicesonly totheextentcurrentlyavailable,or asprovided inthis Agreement. 4.Municipal Water Service Defined The term "municipalwater service"as isused inthisagreement shallbe the servicewhich is suppliedby 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 include the extensionof linesor constructionof necessary improvements at any cost to the City for delivery of water to and within the 2320 WEST BABCOCK ANNEXATION.Nothing inthisAgreement shallobligatethe City to pay forright- of-way acquisition,engineering,construction,and othercostsforthedeliveryof water to orwithin the2320 WEST BABCOCK ANNEXATION to include,butnot 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 the servicewhich 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 2320 WEST BABCOCK Annexation Agreement,Application24106 4 2841054 Page 5 of 17 12/12/2024 09:39:47 AM servicebut does not includethe extensionof linesor constructionof necessaryimprovements at any cost to the City for collectionof sewage at and within the 2320 WEST BABCOCK ANNEXATION.Nothing in thisAgreement shallobligatethe City to pay for right-of-way acquisition,engineering,construction,and othercostsforthe collectionof sewage servicesto or within the 2320 WEST BABCOCK ANNEXATION to include,but not limitedto,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 property in accordance with Section 38.410.130,Bozeman Municipal Code.The City will calculatethe amount of water rightsor cash-in-lieuthereofdue atthetime of furtherdevelopment or subdivision of the property based on the annual demand for volume of water the development willrequire multipliedby themost currentannual unitpricein effecton thedatethewater rightsaretransferred orpayment-in-lieuof water rightsistobe made totheCity.As such,the Landowner acknowledges thatthe ratesforcash in-lieuof water rightsmay increaseover time as establishedby Resolution ofthe City Commission.The applicantmust perform a water rightssearchto determine ifany exist forthisproperty.The Landowner must transferany water rightsthatexistforthispropertyto the City of Bozeman priorto development thatthe City of Bozeman determines are usefulfor City purposes.Ifinsufficientwater rightsexist,the Landowner must pay cash inlieuofwater rights,in an amount determined by the Directorof Public Utilities,priorto development. 7.Comprehensive Water and Wastewater Design Report Priorto futuredevelopment of the propertythe City may requirethe Landowner to have prepared by a ProfessionalEngineer,atLandowner's soleexpense,a comprehensive designreport 2320 WEST BABCOCK Annexation Agreement,Application24106 5 2841054 Page 6 of 17 12/12/2024 09:39:47 AM evaluating existingcapacity 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 identifywater or wastewater system improvements necessary for the proposed development.If improvements to thiswater or wastewater system are necessary,the Landowner agrees priorto development of the 2320 WEST BABCOCK ANNEXATION to complete,at Landowner's expense,the necessary system improvements to servetheproposed development. 8.Future Development Limitations The Landowner shallbe responsiblefor installingallfacilitiesrequired to provide full municipal servicesto the propertyin 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,eithergranted or implied,for itto furtherdevelop any of the 2320 WEST BABCOCK ANNEXATION untilitis verifiedby the City thatthe necessarymunicipal services,includingbut not limitedto policeand fireprotection,parks and recreation,transportation,and sewer and water capacity,are availableto allor a portionof the 2320 WEST BABCOCK ANNEXATION.Notice isthus provided to the Landowner thatpriorto additionaldevelopment of the property,the Landowner will be solely responsibleforinstalling,atLandowner's soleexpense,any facilitiesor infrastructurerequiredto provide fullmunicipal servicesto the 2320 WEST BABCOCK ANNEXATION in accordance with the City'sinfrastructureplans,adopted Growth Policies/Community Plans,and allothercity regulations,policiesand guidelinesthatmay be in effectatthetime of development. 2320 WEST BABCOCK Annexation Agreement,Application24106 6 2841054 Page 7 of 17 12/12/2024 09:39:47 AM 9.Stormwater Master Plan Landowner understands and agrees a Stormwater Master Plan for the 2320 WEST BABCOCK ANNEXATION for a system designed to remove solids,oils,grease,and other pollutantsfrom therunofffrom public streetsand otherimpermeable surfacesmay be requiredto be provided to and approved by the City Engineer atthetime of any futuredevelopment.The plan must demonstrate that adequate treatment of runoff from public streets,other impermeable surfaces,and allfuturelotswillbe achieved by providing spot elevations,flow directionarrows, detention and/or retentionbasin details(includingbasin sizing calculationsand basin typical sections),outletstructuredetails,and culvertcapacitycalculations.The plan must alsolocateand provide easements for adequate drainage ways within the 2320 WEST BABCOCK ANNEXATION to transporttreatedrunoffto the stormwater receivingchannel.The plan shall include sitegrading and elevationinformation,typicalstormwater detention/retentionbasin and discharge structure details,basin sizing calculations,and stormwater maintenance plan. Landowner recognizesthe City may requiresuch Stormwater Master Plan to be implemented in all or part as a condition of approval of development of the 2320 WEST BABCOCK ANNEXATION. 10.Waiver of Right-to-ProtestSpecial Districts A.Landowner shallexecutea 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 drainage facilities,and fiberopticconduit forthe following streetsidentifiedby the Development Review Committee for: 2320 WEST BABCOCK Annexation Agreement,Application24106 7 2841054 Page 8 of 17 12/12/2024 09:39:47 AM a.Streetimprovements to West Babcock Streetbetween Fowler Streetto Main Street includinglighting,signalization,paving,curb/gutter,sidewalk,and storm drainage. The Landowner agrees such SID willprovide a mechanism forthe fairand equitableassessment of constructionand maintenance costsfor such improvements.The waiver isattachedhereto as Exhibit "A"and ishereby incorporatedin and made a partof thisAgreement. B.Landowner agreesthatinthe eventa specialdistrictor an SID isnot utilizedforthe completion of these improvements as described in subsection A above,the Landowner shall participatein an alternativefinancingmethod for the completion of the improvements on a fair share,proportionatebasisas determined by the Cityon the basisof the square footageof property, taxable valuationof the property,trafficcontributionfrom the development or a combination thereof. C.Landowner understands and agrees thatthe City willchoose creationof a SID or specialdistrictor an alternativefinancingmethod forthecompletion of theimprovements and may use eitherfinancingoptionatany time. 11.Public Streetand UtilityEasement The Landowner understands and agrees thata public streetand utilityeasement must be provided for deliveryof municipal servicewith futuredevelopment and such easement shallbe provided atthe Landowner's soleexpense. A right of way for West Babcock Street,classifiedas a Collectorin the Bozeman TransportationMaster Plan (TMP),has a minimum right-of-wayROW width of 90 feet.The applicantmust provide theirrespectiveWest Babcock StreetROW where West Babcock Streetis adjacent to or crosses the property prior to the adoption of Resolution of Annexation.The Landowner understands and agrees that a public streetand utilityeasement must be provided concurrentwith signatureof thisagreement forWest Babcock Streetisadjacenttoor crossesthe 2320 WEST BABCOCK Annexation Agreement,Application24106 8 2841054 Page 9 of 17 12/12/2024 09:39:47 AM 2320 WEST BABCOCK ANNEXATION to includehalfof the 90-footrequiredrightof way for a collectoradjacenttothe 2320 WEST BABCOCK ANNEXATION.The Landowner,atitssole expense,has createdsuch easements ina locationand form agreeabletotheCity and theeasement will be filedat the GallatinCounty Clerk and Recorder's Office.A public streetand utility easement must be provided priorto the adoption of Resolution of Annexation. The Landowner understands and agrees thata public streetand utilityeasement must be provided fordeliveryof municipal servicewith futuredevelopment and such easement shallbe provided atthe Landowner's sole expense.The Landowner furtherunderstands and agrees that additionalpublic streetand utilityeasements may be requiredfordeliveryof municipal services with futuredevelopment,and in such event,the easement shallbe provided atthe Landowner's soleexpense. 12.StreetImprovements The Landowner understands and agreesthatatthe time of futuredevelopment theportion of the 2320 WEST BABCOCK ANNEXATION and itsrelatedtransportationinfrastructure frontingthe 2320 WEST BABCOCK ANNEXATION thispropertymust be improved to a City standardatLandowner's expense. 13.Impact Fees Landowner acknowledges thatannexation and development of theirpropertywillimpact the City'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 2320 WEST BABCOCK Annexation Agreement,Application24106 9 2841054 Page 10 of 17 12/12/2024 09:39:47 AM the time of connection to citywater services. D)Sewer impact fees as requiredby Chpt.2,Art.6.Div.9 BMC,or as amended,at the time of connection to citysewer services. The amount of impact feethe Landowner or itssuccessorspay forconnectionto the city's water and sewer services,ifany,shallbe calculatedbased on the provisionsof the Bozeman Municipal Code,as amended,in effectat the time of applicationfora permit to connect.The amount of streetor fireimpact feesto be paid,ifany,shallbe calculatedbased on the provisions of the Bozeman Municipal Code,as amended,in effectat the time an applicationfor building permit issubmitted. Landowner furtherunderstands and agreesthatany improvements,eitheron-siteor off- site,necessary to provide connection of the 2320 WEST BABCOCK ANNEXATION municipal servicesand which arewholly attributableto the property as determined exclusivelyby the City are considered "projectrelatedimprovements"as defined in Chapter 2,Article6,Division 9, Bozeman Municipal Code,as amended,and as such,arenot eligibleforimpact fee credits. IfLandowner defaultson thisconditionatthe 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 feesimmediately 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. 2320 WEST BABCOCK Annexation Agreement,Application24106 10 2841054 Page 11 of 17 12/12/2024 09:39:47 AM 14.Charges and Assessments Landowner understands and agrees thatafterthisAgreement isrecorded the 2320 WEST BABCOCK ANNEXATION willbe subjectto City assessmentsforarterialand collectorstreets, streetmaintenance,and treemaintenance on the same basisas allotherpropertiesinthe City. 15.Additional Terms The partiesrecognizethesedocuments must be filedand ofrecord with theGallatinCounty Clerk and Recorder prior to the sale of any land within the 2320 WEST BABCOCK ANNEXATION.The partiesfurtheragree thatthe City may filethesedocuments atany time. 16.Governing Law and Venue This agreement shallbe construedunder and governed by the laws ofthestateof Montana. In the event of litigation,venue isin the Eighteenth JudicialDistrictCourt,in and forCounty of Gallatin,Stateof Montana. 17.Attorney's Fees In the event itbecomes necessaryfor eitherparty to thisAgreement to retainan attorney to enforce any of the terms or conditionsof thisAgreement,then the prevailingparty shallbe entitledto reasonableattorney'sfeesand costs,to includethe 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. 2320 WEST BABCOCK Annexation Agreement,Application24106 11 2841054 Page 12 of 17 12/12/2024 09:39:47 AM 19.Invalid Provision The invalidityor unenforceabilityof any provisionof thisagreement shallnot affectthe otherprovisionshereof,and thisAgreement shallbe construedin allrespectsas ifsuch invalidor unenforceableprovisionwere omitted. 20.Modifications or Alterations No modificationsor amendment of thisAgreement shallbe validunless evidenced by a writingsigned by thepartieshereto. 21.No Assignment Itis expressly agreed thatthe Landowner and/or Landowner/Developer shallnot assign thisAgreement inwhole or inpartwithout priorwrittenconsentof the City. 22.Successors This Agreement shallbe binding upon,inureto the benefitof and be enforceableby the partiesheretoand theirrespectiveheirs,successorsand assignsand specificallytoany subsequent purchaser of the annexed property. 23.Covenants to Run with the Land The partiesintend that the terms of this Agreement shall benefit the 2320 WEST BABCOCK ANNEXATION and shallbe covenants running with the land and shallnot expireat theirdeaths or upon transferof ownership of the property. The undersigned Landowner affirmsthatthey have authorityto enterintothisAgreement and tobind themselves to thisAgreement. 2320 WEST BABCOCK Annexation Agreement,Application24106 12 2841054 Page 13 of 17 12/12/2024 09:39:47 AM IN WITNESS WHEREOF,the partiesheretohave caused thisagreement tobe executed the day and year firstabove written. DATED this day of 0Â ,2024. LANDOWNER y:Luke Welborn STATE OF MONTANA ) :ss COUNTY OF GALLATIN ) On this day of 0 e C ,2024,beforeme,the undersigned,a Notary Public forthe Stateof Montana,personallyappeared Luke Welborn and acknowledged this record. IN WITNESS WHEREOF,Ihave hereunto setmy hand and affixedmy officialsealthe day and year firstabove written. (SEAL) EVAN D VINGER 0.w?ee,NOTARY PÙBLIC forthe (PrintedN Here) .or .StateofMontana Notary Publicforthe Stateof .SER * GallatinGat ey,ontana Residing at be a :A buh°¼.ft e'd;a My Commission Expires My Commission Expires:(q///toZy October12,2027 (Use 4 digitsforexpirationyear) 2320 WEST BABCOCK Annexation Agreement,Application24106 13 2841054 Page 14 of 17 12/12/2024 09:39:47 AM CITY OF BOZEMAN By:Chuck Winn,Interim City Manager ATTEST: City Clerk STATE OF MONTANA ) :ss COUNTY OF GALLATIN ) On this day ofÛCMm 4',2024,beforeme,a Notary Public forthe stateof Montana,personallyappeared Chuck Winn and Mike Maas,known to me to the persons describedin and who executed the foregoinginstrumentas Interim City Manager and City Clerk respectively,of the City of Bozeman,whose names are subscribedtothe within instrumentand 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) (PrintedName Here) JUL E HUNTER Notary Publicforthe Stateof Montana oTAR/4.fortheStateofMontana Residing at 3A7#Ay!Of *.SEAL:Boze Mo ana My Commission Expires:r)(a-\\-2() ¶òqó/My commissionExpires:(Use 4 digitsforexpirationyear) 's,,,mso June11,2025 2320 WEST BABCOCK Annexation Agreement,Application24106 14 2841054 Page 15 of 17 12/12/2024 09:39:47 AM EXHIBIT "A" WAIVER OF RIGHT TO PROTEST CREATION OF SPECIAL DISTRICTS OR SPECIAL IMPROVEMENT DISTRICTS 2320 WEST BABCOCK ANNEXATION The undersigned owner of the realpropertysituatedinthe County of Gallatin,Stateof Montana, and more particularlydescribedas follows: Tracts of land being the parcelshown per Film 24,Page 425,and the parcelconveyed on Film 24,Page 426 locatedin the SE 1/4of Section 11,Township 2 South,Range 5 East, P.M.M.,GallatinCounty,MT,more particularlydescribedas follows; Beginning ata calculatedpointon the centerof sectionlineof saidSection 11 from which a Brass cap in a monument box being the center one-quartercorner of said Section 11, bears S 89°31'53"W a distanceof 600.25 feet; thence along said center of sectionlineN 89°31'53"E,a distanceof 389.82 feetto a calculatedposition; thence leavingsaidcenterof sectionlineS 00°05'03"W,a distanceof 312.81 feetto a 2.5" Swart Brass Cap; thence S 89°18'24"W,a distanceof 230.39 feetto a calculatedposition; thence N 00°09'32"E,a distanceof 29.08 feetto a 2.5"Swart Brass Cap; thence S 89°18'43"W,a distanceof 161.14 feetto a calculatedposition; thence N 00°25'01"E,a distanceof 285.27 feettothePoint of Beginning,containing2.705 acresmore or less. Subjectto alleasements of record or apparentfrom visualinspectionof theproperty. IN CONSIDERATION of receivingapproval for annexation 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 transportation impacts to: a.Streetimprovements to West Babcock Streetadjacentto or crossesthepropertyincluding lighting,signalization,paving,curb/gutter,sidewalk,and storm drainage. 2320 WEST BABCOCK Annexation Agreement,Application24106 15 2841054 Page 16 of 17 12/12/2024 09:39:47 AM following improvements:for streetand transportationimprovements including design and engineering,paving and subsurface improvements,curb and gutter,sidewalk,stormwater drainage facilities,broadband,and other dry utilitiesfor the aforementioned streetimprovements. 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 size or area or creationof the districtbe assessed in response to a duly passed resolutionof intentionto createone or more special improvement districtswhich would includetheabove-describedproperty. In the event a specialdistrictor specialimprovement districtisnot utilizedforthe completion of these improvements,the developer agrees to participatein an alternatefinancing method for the completion of saidimprovements on a fairshare,proportionatebasis as determined by the City on the basisof the square footage of property,taxablevaluationof the property,trafficcontributionfrom the development or a combination thereof.Landowner understands and agrees thatthe City willchoose creationof a SID or specialdistrictor an alternativefinancing method for the completion of the improvements and may use eitherfinancingoptionatany time. This waiver ismade forthe benefitof theproperty describedhereinshallbe a covenant running with the land. The terms,covenants and provisionsof thiswaiver shallextend to,and be binding upon the successors-in-interestand assignsof the Landowner. 2320 WEST BABCOCK Annexation Agreement,Application24106 16 2841054 Page 17 of 17 12/12/2024 09:39:47 AM DATED this day of ($CA ,2024. LANDOWNER y:Luke Welborn STATE OF MONTANA ) :ss COUNTY OF GALLATIN ) On this day of 0cr,/ser ,2024,beforeme,the undersigned,a Notary Public forthe Stateof Montana,personallyappeared Luke Welborn and acknowledged thisrecord. IN WITNESS WHEREOF,Ihave hereunto setmy hand and affixedmy officialsealthe day and year firstabove written. (SEAL) EVAN D.VINGER ..'*e NOTARY PUBLIC forthe (PrintedN Here) .o .StateofMontana Notary Publicforthe Stateof Al *SEAL.* GallatinGet ay,Šontana Residing at (7s/feNA (?âkm ,fr My Commission Expires My Commission Expires:/q//t/2077 October12,2027 (Use 4 digitsforexpirationyear) 2320 WEST BABCOCK Annexation Agreement,Application24106 17