The URL can be used to link to this page

Home My WebLink About016.2 - Joint Use Easement AgreementWhen Recorded Return to: DevCo Preservation, LLC 10900 NE 8th Street, #1200 Bellevue, WA 98004 Attn: David B. Ratliff JOINT USE EASEMENT AGREEMENT Grantor: {Alder Ridge Entity} Grantee: {Sage Peak Entity} Legal Description (abbreviated): {To be inserted} Additional on: ( Exhibits A and B Assessor’s Tax Parcel Identification Numbers: {To be inserted} This Joint Use Easement Agreement (“Agreement”) is dated as of the date set forth below, and is made by and among {Alder Ridge Entity}, a ____________ (“Alder Ridge”), and {Sage Peak Entity}, a __________ (“Sage Peak”). Alder Ridge and Sage Peak are collectively referred to as the “Owners” and each as an “Owner” hereunder. RECITALS Alder Ridge is the owner of that certain real property commonly referred to as ___________________ (“Alder Ridge’s Property”), which is legally described on Exhibit A attached hereto and by reference made a part hereof. Sage Peak is the owner of that certain real property commonly referred to as ___________________ (“Sage Peak’s Property”), which is legally described on Exhibit B attached hereto and by reference made a part hereof. The Owners intend to construct certain multi-family complexes on their respective parcels. The Owners intend to work together to design site improvements for the intended construction of multi-family complexes including, without limitation, driveways, sidewalks, non-reserved parking areas, parks, stormwater facility(ies), solar energy facility(ies), landscaping and other amenities or facilities designed for non-exclusive use on Alder Ridge’s Property and Sage Peak’s Property (to the extent actually constructed and expressly excluding any multi-family buildings and the Clubhouse, the “Common Areas”). The Owners each desire to grant certain easements that will benefit and burden each of Alder Ridge’s Property and Sage Peak’s Property for the joint use of the Common Areas, as further described below. Alder Ridge intends to construct a community clubhouse on Alder Ridge’s Property (to the extent constructed, the “Clubhouse”) for the exclusive use of and by Alder Ridge’s Property. AGREEMENTS For valuable consideration, the Owners hereby agree as follows: Grant of Common Areas Easement. The Owners each hereby declares and grants to the other Owner for the benefit of Alder Ridge’s Property and Sage Peak’s Property a nonexclusive, perpetual easement over, across, and through the Common Areas for reciprocal use and enjoyment of the Common Areas in a manner consistent with the granting Owner’s intended use of such Common Areas, which such use shall be subject to all reasonable rules and regulations promulgated by the Owner of such portion of the Common Areas. Indemnifications. Sage Peak agrees to indemnify, and hold harmless Alder Ridge, its officers, directors, employees, agents, and successors (collectively, the “AR Indemnitee”) from and against any and all claims, demands, or causes of action and the resulting losses, costs, expenses, reasonable attorney fees, liabilities, damages, orders, judgments, or decrees (collectively, “Claims”) which the AR Indemnitee may suffer or incur due to any damage to property, injury to or death of any person, or otherwise as a result of the entry upon, activities on, or use of Alder Ridge Property in the exercise of the easement rights hereunder by Sage Peak. Notwithstanding the foregoing, this Section 2 shall be valid and enforceable only to the extent of the negligence of Sage Peak, its agents, contractors, subcontractors, or employees. Alder Ridge agrees to indemnify, and hold harmless Sage Peak, its officers, directors, employees, agents, and successors (collectively, the “SP Indemnitee”) from and against any and all Claims which the SP Indemnitee may suffer or incur due to any damage to property, injury to or death of any person, or otherwise as a result of the entry upon, activities on, or use of Sage Peak Property in the exercise of easement rights hereunder by Alder Ridge. Notwithstanding the foregoing, this Section 2 shall be valid and enforceable only to the extent of the negligence of Alder Ridge, its agents, contractors, subcontractors, or employees. Insurance. Each Owner shall at all times maintain or cause to be maintained comprehensive general public liability insurance against claims for personal injury or death and property damage occasioned by accident occurring upon, in, or on any portion of the Common Areas. The limits of liability of such insurance shall be not less than $2,000,000 combined single limit coverage for injury to person, loss of life, and damage to property arising out of any single occurrence. At the written request of the other Owner, the amount of such liability insurance coverage shall be periodically reviewed and if it is reasonably determined that such amount is inadequate, based on then normally accepted industry standards, the minimum amount of such liability insurance coverage shall be increased to conform to the current industry standards. Upon request, each Owner shall provide the other Owner with a copy of a certificate of insurance evidencing such insurance with each Owner naming each other Owner as a named insured. Required Amendment to Agreement. No later than 120 days after the Common Areas and multi-family complexes are constructed, the Owners shall record an amendment to this Agreement that (i) amends the definition of the “Common Areas” to ensure certain exclusive structures or amenities are excluded from such definition, and (ii) to the extent mutually agreed by the Owners, amends and restates Section 1 of this Agreement to clarify the scope of each Owner’s right to use and enjoy certain portions of the Common Areas. General Provisions. No breach, whether or not material, of the provisions of this Agreement shall entitle either party to cancel, rescind, or otherwise terminate this Agreement, but such limitations shall not affect, in any manner, any other rights or remedies which either party may have hereunder, at law or in equity by reason of any breach of the provisions hereof, including, without limitation, the right to collect damages or to compel specific performance. The remedies provided for in this Agreement shall, to the maximum extent permitted by law, be cumulative and in addition to any rights or remedies of the parties at law or in equity. This Agreement and the terms contained herein shall be deemed covenants running with the land and shall inure to the benefit of and shall be binding upon the grantees, heirs, successors and assigns of the Owners and the future owners of Alder Ridge’s Property and Sage Peak’s Property. If Alder Ridge’s Property and/or Sage Peak’s Property is ever split into multiple parcels, the easement rights and obligations established hereby shall benefit and burden all such parcels equally. For the avoidance of doubt, “Alder Ridge” and “Sage Peak” expressly include such Owner’s grantees. Amendments to or termination of this Agreement shall be made by an instrument in writing and that is unanimously approved by the Owners, and shall be effective upon recording. Any provisions of this Agreement which shall prove to be invalid, void, or illegal, shall in no way affect, impair, or invalidate any other provisions hereof and such other provisions shall remain in full force and effect. No waiver of any of the provisions of this Agreement shall be effective unless it is in writing and signed by the party against whom it is asserted, and any such written waiver shall only be applicable to the specific instance to which it relates and shall not be deemed to be a continuing or future waiver. This Agreement shall be governed in accordance with the laws of the State of Montana. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original, but all such counterparts together shall constitute one agreement. In the event any action is instituted with respect to the subject matter of this Agreement, the party prevailing in such action, whether by final judgement or out-of-court settlement, shall be entitled to recover from the other party thereto actual attorneys’ fees and costs of such suit. Concurrently with the recording of this Agreement, the Owners intend to record a Joint Use Maintenance Agreement for the Owners to undertake certain maintenance obligations that will benefit and burden each of Alder Ridge’s Property and Sage Peak’s Property for the joint maintenance of the Common Areas. All notices, demand, requests or other communications given under this Agreement shall be in writing and be given by personal delivery, certified mail, return receipt requested, or nationally recognized overnight courier service to the address set forth below or as may subsequently in writing be requested. If to Alder Ridge: ______________________ ______________________ ______________________ ______________________ If to Sage Peak: ______________________ ______________________ ______________________ ______________________ EXECUTED as of _________________, 202__. ALDER RIDGE: {Alder Ridge Entity}, a _____________________________ By: _____________________ Name: ___________________ Title: ____________________ STATE OF COUNTY OF } ss. This record was acknowledged before me on _________________, 202__, by _____________________, as _____________________ of {Alder Ridge Entity}, a __________________. [Stamp below] Signature Notary Public My Commission Expires EXECUTED as of _________________, 202__. SAGE PEAK: {Sage Peak Entity}, a _____________________ By: _____________________ Name: ___________________ Title: ____________________ STATE OF COUNTY OF } ss. This record was acknowledged before me on _________________, 202__, by _____________________, as _____________________ of {Sage Peak Entity}, a __________________. [Stamp below] Signature Notary Public My Commission Expires EXHIBIT A Alder Ridge’s Property [TO BE INSERTED] EXHIBIT B Sage Peak’s Property [TO BE INSERTED]