HomeMy WebLinkAbout013 2805058 Recorded Amendment to Annexation Agreement2805058
Inter-officeOrieinalto:
CityofBozeman
CityClerk
PO Box 1230
Bozeman MT 549771-1230
AMENDMENT TO CANYON GATE
ANNEXATION AGREEMENT
THIS AMENDMENT TO ANNEXATION AGREEMENT ismade and enteredinto
this 18 day of r ck ,2023,by and between the CITY OF BOZEMAN,a
self-governingmunicipalcorporationorganizedand existingunder itsCharterand thelaws of the
State of Montana with officesat 121 N.Rouse Avenue,Bozeman,Montana 59771-0640,
hereinafterreferredto as "City",and CANYON GATE INVESTORS,LLC,of 111 W.Lamme
Street,Suite101,Bozeman MT 59715,hereinafterreferredtoas "Landowner."
W IT N E S S E T H:
WHEREAS,followingapprovalby theCityCommission,theCityand Landowner entered
intotheCanyon Gate Annexation Agreement on Qf°d theAgreement was executedby
the partiesand recorded as document 277918-l in the recordsof GallatinCounty (the
"Agreement");
WHEREAS,Section 17.C.of the A.greementrequiredLandowner torecorda covenant
runningwith thelandpursuantto therequirementssetforthinSection17.A.and Section17.B and
Landowner recorded such a covenant as document 9WN 86 in the recordsof Gallatin
County (the"Covenant");
Amendment toCanyon Gate Annexation Agreement 1
WHEREAS,Section 17.B.of the Agreement providesthatLandowner voluntarilyoffers
and agreestoprovidewithintheR-5 zoning areawithintheCA.NYON GATE ANNEXATION,a
minimum of 60 housingunitsthatarepricedno greaterthan 120%of Area Median Income atan
interestrateof 3.5%per the matrixsetforthinExhibitB to theAgreement and as furtherdefined
therein(the"income restrictedunits");
WHEREAS,Section 17.B did not draw a distinctionbetween income restrictedunits
which may be offeredforsaleversusincome restrictedunitswhich may be offeredforlease,and
thepartiesdesiretoclarifysuch language;
WHEREAS,theCity and theLandowner intendedtoallow the income restrictedunitsto
be offeredforsale;and
WHEREAS,Section22 of theAgreement specifiesthatmodificationsor amendments to
theAgreement arevalidonly ifevidencedby a writingsignedby thepartiestotheAgreement;and
WHEREAS,the partieshave determined thatitisin the best interestsof the City and
Landowner,and infurtheranceofthepublichealth,safetyand welfareof the community to enter
intotheAmendment.
WIT NESSE TH:
IN CONSIDERATION of the mutual covenants and agreements herein contained,the
partiesheretoagrecas follows:
1.Recitals:The above recitalsaretrueand correctand incorporatedherein.
2.Amended Terms:Section 17.B of the Agreement is hereby modified to specifythat
Landowner's obligationto providea minimum of 60 income restrictedunitsasprovidedtherein
may be satisfiedby offeringsuch unitsto personswho qualifywithinthe income restrictionsfor
purchaseorforleaseor forany combinationof purchasingor leasing.
Amendment toCanyon Gate Annexation Agreement 2
3.Modificationof Covenant:Landowner and Cityshallexecuteand record a modification
to the Covenant to clarifythat Landowner's obligationto provide a minimum of 60 income
restrictedunitsasprovidedthereinmay be satisfiedby offeringsuch unitstopersonswho qualify
withintheincome restrictionsforpurchase or forleaseor for any combination of purchasingor
leasing,ina form tobe approved by theCity.
4.Effectof Amendment:This Amendment appliesonlytotheportionsoftheAgreement as
specifiedhereinand allotherterms of the Agreement remain unchanged and in fullforceand
effect.
IlNWITNESS WHEREOF,thepartiesheretohave caused thisAmendment tobe executedthe
day and year firstabove written.
Amendment toCanyon Gate Annexation Agreement 3
LANDOWNER
CANYON GATE INVESTORS,LLC
a Montana limitedliabilitycompany
By:CANYON GATE PARTNERS,LLC
a Montana limitedliabilitycompany,its
Managing Member
By:Andrew Holloran,Manager
STATE OF n a
:ss
COUNTY OF c.\ldn )
On this LP day of (wv.-,2023,beforeme,theundersigned,a Notary
Publicforthe Stateof MbnbnD ,personallyappearedAndrew Holloran,asManager
of Canyon Gate Partners,LLC,theManaging Member ofCanyon Gate Investors,LLC,known
tome tobe thelandowner thatexecutedthewithininstrument,and ac.knowledgedtome thatthey
executedthesame forand on behalfof landowner.
IN WITNESS WHEREOF,I have hereuntosetmy hand and affixedmy officialsealthe
day and yearfirstabove written.
(SEAL)
,,LAUREN J CUMMINGS j .rmted Na1 e re)Comwu
NotaryPubUc j Notary Public.-1eStateof Me
o .forthestateofMontana
Residingat$1\ca4in T
SEAL.Bozeman,Montana My Commission Expires:c-3 oy/.XQ3
eptm er 4,
res·(Use 4 digitsforexpirationyear)
Amendment toCanyon Gate Annexation Agreement 4
CITY OF BOZEMAN
B e lihelich,City Manager
ATTEST:
City Clerk -........-
STATE OF MONTANA )
:ss
COUNTY OF GALLATIN )
On this day of A V ,2023,beforeme,a Notary Publicforthe
stateof Montana,personallyappearÉd JeffMihelich and Mike Maas,known to me tothepersons
describedinand who executedtheforegoinginstnunentas CityManager and City Clerkrespectively,
oftheCityof Bozeman,whose narnesaresubscribedtothewithininstrumentand acknowledged tome
thattheyexecutedthesame forand on behalfof saidCity.
IN WITNESS WHEREOF,I have hereuntosetmy hand and affixedmy officialsealtheday and
year firstabove written.
(PrintedName Here)
Notary Public10-theStateof Montana
.JULIE HUNTER Residingat )?/4/vØ(A
NotaryPubhc My Commission Expires:(d -2.(TL5°fortheStateofMontana
(Use 4 digitsforexpirationyear)ResidingatSEALBozeman,Montana
oFMb yCommiSSionExpires:June11,2025
Amendment toCanyon Gate Annexation Agreement 5