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HomeMy WebLinkAboutOrig recorded Annex Agreement 2774187Inter-omceosano CitydBozeman 2 2 26 AM Fee 68.00 CityClerk PO Box 1230 Bozeman MT 549771-1230 CANYON GATE ANNEXATION AGREEMENT THIS AGREEMENT made and entered intothis 11 day of pr i }, 202 2 ,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 CANYON GATE INVESTORS,LLC,of 111 W.Lamme Street,Suite101,Bozeman MT 59715, 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 CANYON GATE ANNEXATION situatedin GallatinCounty,Montana,and more particularlydescribedas follows: A descriptionof land being the SE ¼of Section31 and theSW ¼of Section32, Township 1 South,Range 6 East,PrincipalMeridian Montana,GallatinCounty, Montana. Beginning at a point (P.O.B),which isthe Northwest Corner of saidCOS No.2408 and a point on the N/S linebetween Sections 31 and 32 of said Township and Range and the centerlineof Story Mill Road. thence,S 88°15'30"E,along the south boundary of Legends at Bridger Creek Subdivisionand thenorthboundary of saidTract 7B,a distanceof 1314.68 feettoa pointbeing the Northeastcornerof saidTract 7B; Canyon Gate Annexation Agreement I thence,alongtheeastlineof Tract7B,alsotheWest lineofLegends atBridgerCreek SubdivisionII,Phase 1,S 00°06'32"W,a distanceof 650.92 feettoa pointon said line; thence,along saidlines,S Ol°47'33"W,a distanceof 62.90 feetto a pointbeing the SE cornerof saidTract 7B;] thence,N 88°19'21"W,along the North Line of MT.Baldy Subdivisionand the South lineof saidTract 7B,a distanceof 817.12 feetto the NE corner of the West 33.34 feetof Lot 45 of the MT.Baldy subdivision; thence,S Ol°44'26"W,along the eastlineof saidLot,a distanceof 260.01 feetto a point; thence,N 88°17'19"W,a distanceof491.61 feetto a pointon thelinebetween said Sections31 and 32 (akathecenterlineof Story Mill Road); thence,leavingsaid sectionlineand along the North ROW of Bridger Drive being the South boundary of Tract A of COS 1815,N 88°30'52"E,a distanceof 40.01 feeta pointatthe intersectionof saidROW,South Line and the West 40'ROW of saidStoryMill Road; thence,leavingsaidBridger Drive ROW and continuingN 00°18'18"E,a distance of321.05 feetalong saidWest ROW of StoryMillRoad and through TractA of COS 1518 to a pointbeing the saidWest ROW and the SoutheastROW cornerof TractD oftheOsborne Subdivision; thence along saidWest ROW of StoryMill Road and along the East boundary line of TractsA,B,C and D of saidOsborne Subdivision,N 00°18'I8"E,a distanceof 652.19 feettoa pointbeing theNE cornerof saidTractA of saidsubdivisionand the intersectionof the West ROW of Story Mill Road and the south ROW of Boylan Road; thence alongsaidsouthROW,N 88°53'53"E,a distanceof 40.01 feettotheP.O.B. Said area being 1,107,450square feetor 25.42 acresmore or less,along with and subjectto alleasements ofrecordand allas depictedon the CANYON GATE Annexation Map. WHEREAS,the Landowner petitionedthe City for annexation to the City of the CANYON GATE ANNEXATION;and WHEREAS,the CANYON GATE ANNEXATION isnot withinthe corporatelimitsof the City or othermunicipalityand may thereforebe annexed to the City in accordance with the provisionsof thisAgreement and Title7,Chapter 2,Part46,Mont.Code Ann.;and WHEREAS,all parties recognize the annexation of the CANYON GATE ANNEXATION pursuantto Section7-2-4601,etseq.,Mont.Code Ann.willallow theCANYON Canyon Gate Annexation Agreement 2 GATE ANNEXATION to connect to and utilizeCity services,includingmunicipal water and sewer service,parks and recreation,fireand policeservices,and the City'stransportationsystem; and WHEREAS,Section 7-2-4610,Mont.Code Ann,provides that a municipality and landowner can agree totheprovisionsof servicestothe areato be annexed;and WHEREAS,the partiesrecognize additionaldevelopment on the CANYON GATE 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,policeand fireservicefordevelopment ofthe CANYON GATE ANNEXATION;and WHEREAS,the partieshave determined that itis in the best interestsof the City and Landowner,and infurtheranceof the publichealth,safetyand welfareof thecommunity to enter intoand implement thisAgreement. W IT NE S S E T H: IN CONSIDERATION of the mutual covenants and agreements herein contained,the partieshereto agreeas follows: 1.Recitals The above recitalsare trueand correctand incorporatedherein. Canyon Gate Annexation Agreement 3 2.Annexation The Landowner filed an application for annexation of the CANYON GATE ANNEXATION with the City on August 9,2021.By execution of thisAgreement,the City manifestsitsintentto annex the CANYON GATE ANNEXATION tractpursuanttotheterms and conditionsofthisAgreement.Subjecttotheprovisionsof Title7,Chapter 2,Part46,Mont.Code Ann.the City shall,upon execution of thisAgreement,adopt a Resolution of Annexation of the CANYON GATE ANNEXATION.Further,upon the execution of this Agreement,the Landowner shalldo allthingsrequiredby thisAgreement and allthingsnecessaryand proper to aid and assistthe City in carryingouttheterms,conditionsand provisionsof thisAgreement and to effectthe annexationof the CANYON GATE ANNEXATION. 3.Services Provided The City will,upon annexation,make availableto the CANYON GATE ANNEXATION existingCity servicesonly to the extentcurrentlyavailable,or asprovided inthisAgreement. 4.Municipal Water Service Def'med The term "municipalwater service"as isused in thisagreement shallbe theservicewhich issuppliedby the City in accordance with Chapter 40,Article2,Bozeman Municipal Code,as amended,as well as any other terms and conditions which apply to the City'sprovision of municipal water servicebut does not includethe extensionof linesor constructionof necessary improvements at any costto the City for deliveryof water to and within the CANYON GATE ANNEXATION.Nothing in thisAgreement shallobligatethe City to pay for right-of-way acquisition,engineering,construction,and other costsforthe deliveryof water to or within the CANYON GATE ANNEXATION to include,but not limited to,any impact fees,hook-up, connection,or development charges which have been or may be establishedby the City. Canyon Gate Annexation Agreement 4 5.Municipal Sewer Service Defined The term "municipalsewer service"as isused inthisAgreement shallbe theservicewhich issuppliedby the City in accordance with Chapter 40,Article3,Bozeman Municipal Code,as amended,as well as any other terms and conditionswhich apply to the City'sprovisionof this servicebut does not includethe extensionof linesor constructionof necessary improvements at any costto the City forcollectionofsewage atand withintheCANYON GATE ANNEXATION. Nothing inthisAgreement shallobligatetheCityto pay forright-of-wayacquisition,engineering, construction,and other costsfor the collectionof sewage servicesto or within the CANYON GATE 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 rightsupon furtherdevelopment or subdivision of the property in accordance with Section 38.410.130,Bozeman Municipal Code.The City willcalculatethe amount of water rightsdue at the time of furtherdevelopment or subdivisionof the propertybased on the annual demand for volume of water the development willrequiremultipliedby the most currentannual unitpricein effecton the datethe water rightsare transferredor payment-in-lieuof water rightsistobe made to the City.As such,the Landowner acknowledges thatthe ratesforcash in-lieuof water rights may increaseover time as establishedby Resolutionof the City Commission.The applicantmust perform a water rightssearch to determine ifany existfor thisproperty.The Landowner must transferany water rightsthatexistforthispropertyto the City of Bozeman priorto development. Ifinsufficientwater rightsexist,theLandowner must pay cash inlieuofwater rights,inan amount determined by the DirectorofPublic Service,priorto development. Canyon Gate Annexation Agreement 5 7.Water and Sewer Connections Landowner understandsand agreesthatconsistentwith the Agreement forPublicSanitary Sewer and Water Connection and Consent to Annexation and under no conditionsnot laterthan prior to final plattingof any subdivision of the property within the CANYON GATE ANNEXATION,the existingresidence on the property must be removed or connected to City water and sewer utilities.Water and sewer servicesmust be constructedinaccordancewith design and specificationsapproved by the City priorto the installationof the water and sewer lines. Landowner must contact the City Water and Sewer Division to obtain detailsof construction requirements.Landowner must notifytheCity Water and Sewer Superintendenta minimum of 48 hours prior to constructionof the servicesand disconnection of the well and septicsystem abandonment. Landowner furtherunderstandsand agreesthatpriorto connection to the City water and sewer system,or concurrent with removal of the existinghome,the existingon-sitesewage treatmentsystem must be properly abandoned and certificationprovided to the City Water and Sewer Divisionthatthe abandonment occurred.The Landowner must reportthe abandonment to the GallatinCity County Health Department.In additionto abandonment of the septictank and leachfield,the applicantmust demonstrate thatthesanitarysewer linefrom thehouse totheseptic tank has been completely disconnected from the existingsepticsystem priorto the Landowner connecting the sanitarysewer linecoming from thehouse tothe City sanitarysewer system. Any wells presentlyused fordomestic purposes may be retainedforirrigationonly,with no physicalconnectionto domestic water piping.Certificationthatthereisno physicalconnection between an on-sitewell and the domestic water linecoming from the City'swater supply to the house must be provided.The City Water and Sewer Division may perform an inspectionof the Canyon Gate Annexation Agreement 6 propertyand certifythatthedisconnectionof thewell and septicsystem abandonment areproperly completed.Landowner understands and agreesthatifLandowner failsto properlyabandon the existingsepticsystem and/orfailsto disconnectthe existingwell from the domestic water piping as requiredhereinthe City may upon ten day's writtennoticeto the Landowner terminatewater and/orsewer servicestothe property.Costs of alldisconnectsand/orsubsequentreconnectsshall be borne by Landowner. 8.Comprehensive Water and Water Design Report Priorto futuredevelopment of the property the 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 identifywater or wastewater system improvements necessary forthe proposed development.If improvements to thiswater or wastewater system are necessary,the Landowner agrees priorto development of the CANYON GATE ANNEXATION to complete,atLandowner's expense,the necessarysystem improvements to servethe proposed development. 9.Future Development Limitations The Landowner shallbe responsiblefor installingallfacilitiesrequired to 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 CANYON GATE ANNEXATION untilitisverified Canyon Gate Annexation Agreement 7 by the City thatthe necessary municipal services,includingbut not limitedto policeand fire protection,parks and recreation,transportation,and sewer and water capacity,areavailableto all or a portionof the CANYON GATE ANNEXATION.Notice isthusprovided tothe Landowner thatpriorto additionaldevelopment of the property,the Landowner willbe solelyresponsiblefor installing,at Landowner's sole expense,any facilitiesor infrastructurerequiredto provide full municipal servicesto the CANYON GATE ANNEXATION in accordance with the City's infrastructureplans,adopted Growth Policies/Community Plans,and allothercityregulations, policiesand guidelinesthatmay be ineffectatthetime of development. 10.Stormwater Master Plan Landowner understands and agrees a Stormwater Master Plan forthe CANYON GATE ANNEXATION fora system designed to remove solids,oils,grease,and otherpollutantsfrom the runofffrom publicstreetsand other impermeable surfacesmay be requiredto be provided to and approved by the City Engineer at the time of any future development.The plan must demonstrate thatadequatetreatmentof runofffrom publicstreets,otherimpermeable surfaces,and allfuturelotswill be achieved by providing spot elevations,flow directionarrows,detention and/orretentionbasindetails(includingbasinsizingcalculationsand basintypicalsections),outlet structuredetails,and culvertcapacity calculations.The plan must also locateand provide easements foradequate drainage ways withinthe CANYON GATE ANNEXATION to transport treatedrunoff to the stormwater receiving channel.The plan shallinclude sitegrading and elevationinformation,typicalstormwater detention/retentionbasinand dischargestructuredetails, basin sizingcalculations,and stormwater maintenance plan.Landowner recognizesthe City may requiresuch Stormwater Master Plan to be implemented in allor partas a conditionof approval of development of the CANYON GATE ANNEXATION. Canyon Gate Annexation Agreement 8 11.Waiver of Right-to-ProtestSpecialDistricts A.Landowner shallexecutea Waiver of Right-to-ProtestCreationof SpecialDistricts (SID)or Special Improvement Districtsfor streetand transportationimprovements including design and engineering,paving and subsurfaceimprovements,curb and gutter,lighting,sidewalk and stormwater drainagefacilities,and fiberopticconduitfora)Streetimprovements toStoryMill Road between Boylan Road and the southern terminus of L Streetincludingfrom the southern terminus of L Streetsouth to and includingWallace Avenue toitsintersectionwith East Tamarack Street(includingthe intersectionofWallace Avenue and EastTamarack Street)toincludelighting, signalization,paving,curb/gutter,sidewalk,and storm drainage and b)Streetimprovements to Bridger Drive between Story Mill Road and Boylan Road as Boylan Road intersectswith Bridger Drive at the Creekwood Subdivision including lighting,signalization,paving,curb/gutter, sidewalk,and storm drainage;and c)intersectionimprovements for i)the intersectionof Story Mill Road and BridgerDrive includinglighting,signalization/channelization,paving,curb/gutter, sidewalk,and storm drainage;as setforthin Exhibit"A".The Landowner agreessuch SID will provide a mechanism forthe fairand equitableassessment of constructionand maintenance costs forsuch improvements.The waiver isattachedheretoas Exhibit"A"and ishereby incorporated in and made a partofthisAgreement. 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 forthe completion of the improvements on a fair share,proportionatebasisas determined by theCity on the basisofthe square footageof property, taxable valuationof the property,trafficcontributionfrom the development or a combination thereof,subjecttotheprovisionsof Section 12 pertainingtoPayback Districts. Canyon Gate Annexation Agreement 9 C.Landowner understands and agrees thatthe City willchoose creationof a SID or specialdistrictor an alternativefinancingmethod forthecompletion ofthe improvements and may use eitherfinancingoptionatany time. 12.Payback Districts Upon submission of a futuredevelopment application,the landowner may be expected to make off-siteimprovements to Story Mill Road and certainfloodwatermitigationeffortswhich may benefitfuturedevelopment of otherparcelsinthearea.Therefore,theLandowner may submit an applicationto the City forthe creationof a Payback District.The City agreesto considerthe creationof a Payback Districtforthe benefitof Landowner,forthe costsexpended to complete such work as the City requiresforoff-siteimprovements to Story Mill Road and for floodwater mitigationexceeding proportionalshareof such work as determined by the City. 13.Public Streetand UtilityEasement The Landowner understands and agreesthata public streetand utilityeasement must be provided for Story Mill Road,includinga 45 foot public streetand utilityeasement from the centerlineof the existingright-of-way.The Landowner,at itssoleexpense,has createdsuch an easement ina locationand form agreeabletothe City and theeasement willbe filedattheGallatin County Clerk and Recorder's Office at the same time as this annexation agreement.The Landowner furtherunderstands and agrees thatadditionalpublicstreetand utilityeasements may be requiredfor deliveryof municipal serviceswith futuredevelopment and such easement shall be provided atthe Landowner's soleexpense. 14.StreetImprovements The Landowner understandsand agreesthatatthetime of futuredevelopment theportion of Story Mill Road and Bridger Canyon Drive and theirrelatedtransportationinfrastructure Canyon Gate Annexation Agreement 10 frontingthe CANYON GATE ANNEXATION must be improved to a City standardor Montana Department of Transportationstandardas applicableat Landowner's expense,but subjectto any Payback Districtor otherfunding mechanism as may apply. 15.Impact Fees Landowner acknowledges thatannexation and development of theirpropertywillimpact the City'sexistingstreet,water and sewer infrastructure,and theCity'sfireservice.As approved by theCity,theLandowner 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 connectiontocitysewer services. The amount of impact feethe Landowner or itssuccessorspay forconnectiontothe city's water and sewer services,if any,shallbe calculatedbased on the provisionsof the Bozeman Municipal Code,as amended,in effectatthe time of applicationfor a 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 agrees thatany improvements,eitheron-siteor off- site,necessarytoprovideconnection ofthe CANYON GATE ANNEXATION municipal services and 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 feecredits. Canyon Gate Annexation Agreement 11 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 fees immediately due and payable and City shallhave the rightand privilegeto take legalactionagainst Landowners for the collectionof such sum,including the entry of any judgment.Inaddition,theCitymay,atitsoption,enforcepayment of such amount by levyingan assessment on theproperty. B)Elect any other remedy availableto City under the laws of the Stateof Montana. 16.Assessments Landowner understands and agreesthatafterthisAgreement isrecorded theCANYON GATE ANNEXATION willbe subjecttoCity assessmentsforarterialand collectorstreets, streetmaintenance,and treemaintenance on the same basisas allotherpropertiesintheCity. 17.Additional Terms A.In order to advance the goals of the Bozeman Community Plan 2020,Theme 2, notwithstandingany provisionto the contraryas setforthin the City'sregulationsforitszoning districts,within the CANYON GATE ANNEXATION Landowner voluntarilyoffersand agrees to:1)except for the specificbuildingheight limitsin subsection3 below,limitthe maximum height of structureslocated within the entireproject to a maximum of 50 feetor 4 stories, whichever isgreater;2)limitthe building footprintof each buildingwithin the B-2M zoning districttoa maximum of25,000 squarefeetperbuilding;and 3)limitbuildingswithinthenorthern 100 feetoftheB-2M zoning districttoresidentialpurposes only with a maximum heightof36 feet forstructureswith a flatroof and a maximum heightof 46 feetforstructureswith a pitchedroof. Landowner shallrecorda covenant running with the landtobe approved by theCity Attorneyand enforceableby the Citytoreflectthisagreement. Canyon Gate Annexation Agreement 12 B.In orderto advance the goals of the Bozeman Community Plan 2020,Landowner voluntarilyoffersand agrees to provide within the R-5 zoning areawithin the CANYON GATE ANNEXATION,a minimum of 60 housing unitsthatare priced no greaterthan 120%of Area Median Income atan interestrateof 3.5%per the matrix setforthinExhibitB.As determined by the City,a one person household includesStudios,two person household includesone bedroom units,a threeperson household includestwo bedroom units,and fourperson household includes threebedroom units.The saleand management of the income restrictedhousing unitsshallbe administeredby a community land trustor otherentityacceptableto the City.Landowner shall begin constructionof the income restrictedhousing priorto any verticalconstructionwithin the B2M zoning districtand shall complete all 60 units within 24 months aftercommencing construction.Landowner shallrecorda covenant running with thelandtobe approved by the City Attorney and enforceableby the City to reflectthisagreement. C.Recording.The partiesrecognizethecovenants requiredinsubsectionsA and B,above, must be filedand of record with the GallatinCounty Clerk and Recorder at the same time as the recordationofthisAnnexation Agreement. 18.Governing Law and Venue This agreement shallbe construedunder and governed by thelaws of thestateofMontana. In the event of litigation,venue isinthe Eighteenth JudicialDistrictCourt,inand forCounty of Gallatin,Stateof Montana. 19.Attorney's Fees In the event itbecomes necessary foreitherpartyto thisAgreement to retainan attorney to enforce any of the terms or conditionsof thisAgreement,then the prevailingparty shallbe Canyon Gate Annexation Agreement 13 entitledtoreasonableattorney'sfeesand costs,to includethe salaryand costsof in-housecounsel includingCityAttorney. 20.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. 21.Invalid Provision The invalidityor unenforceabilityof any provisionof thisagreement shallnot affectthe otherprovisionshereof,and thisAgreement shallbe construedinallrespectsas ifsuch invalidor unenforceableprovisionwere omitted. 22.Modifications or Alterations No modificationsor amendment of thisAgreement shallbe valid unlessevidenced by a writingsignedby the partieshereto. 23.No Assignment Itisexpresslyagreed thatthe Landowner and/or Landowner/Developer shallnot assign thisAgreement inwhole or in partwithout priorwrittenconsent of the City. 24.Successors This Agreement shallbe binding upon,inureto the benefitof and be enforceableby the partiesheretoand theirrespectiveheirs,successorsand assignsand specificallytoany subsequent purchaser oftheannexed property. 25.Covenants to Run with the Land Canyon Gate Annexation Agreement 14 The partiesintendthatthe terms of thisAgreement shallbenefitthe CANYON GATE ANNEXATION and shallbe covenants running with the land and shallnot expireattheirdeaths or upon transferof ownership of the property. The undersigned Landowner affirmsthatthey have authorityto enterintothisAgreement and tobind themselvesto thisAgreement. IN WITNESS WHEREOF,thepartiesheretohave caused thisagreement to be executed the day and year firstabove written. Canyon Gate Annexation Agreement 15 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 ódá4 ) COUNTY OF n On this 73 day of ,2022,beforeme,the undersigned,a Notary Public forthe Stateof (Y¥nh ,personallyappeared Andrew Holloran,as Manager of Canyon Gate Partners,LLC,theManaging Member of Canyon Gate Investors,LLC, known to me tobe thelandowner thatexecuted the withininstrument,and acknowledged tome thatthey executed the same forand on behalfof landowner. IN WITNESS WHEREOF,I have hereuntosetmy hand and affixedmy officialsealthe day and year firstabove written. (SEAL) LAUREN J CUMMINGS NotaryPublic (StªteofMontana (PrintedNa e He )à enmt .SEAL.Boze ,or ana Notary Pu icforth Stateoff ept m e ses Residing at n My Commission expires:°/ (Use 4 digitsforexpirationyear) Canyon Gate Annexation Agreement 16 CITY OF BOZEMAN .J ih ich,City Manager ATTEST: City Clerk STATE OF MONTANA ) :ss COUNTY OF GALLATIN ) On this \½day of Ñpd \,2021 ,beforeme,a Notary Public forthe stateof Montana,personallyappeared JeffMihelich and Mike Maas,known to me tothepersons describedinand who executed the foregoing instrumentas City Manager and City Clerk respectively, of the City of Bozeman,whose names are subscribedtothe within instrumentand acknowledged to me thatthey executed thesame forand on behalfof saidCity. IN WITNESS WHEREOF,Ihave hereunto setmy hand and affixedmy officialsealthe day and year firstabove written. (SEAL) TAYLOR CHAMBERS (Printe ame Here) fortheStat o ontana Notary ublicforthe Stateof Montana S ÃL soze oÝtana My CommissionExpires:My Commission Expires:O)-vs.·2.025 January12,2025 (Use 4 digitsforexpirationyear) Canyon Gate Annexation Agreement 17 EXHIBIT "A" WAIVER OF RIGHT TO PROTEST CREATION OF SPECIAL DISTRICT OR SPECIAL IMPROVEMENT DISTRICTS CANYON GATE ANNEXATION The undersigned owner of the realpropertysituatedinthe County of Gallatin,Stateof Montana, and more particularlydescribedas follows: Parcel7B of Certificateof Survey No.2408,lessHWRW,according to the officialCertificate of Survey thereof,recorded intherecordsof GallatinCounty. 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 impacts to the streetsand intersectionsset forth below which willbe caused by the development of the above- describedproperty,the owner has waived and does hereby waive foritself,itssuccessorsand assigns forevertherightto protestthe creationof one or more specialdistrictsor specialimprovement districts forthe design and engineering,constructionand maintenance of followingimprovements: 1.Streetimprovements toStory Mill Road between Boylan Road and thesouthernterminus of L Streetincludingfrom thesouthernterminus of L Streetsouth to and includingWallace Avenue to itsintersectionwith East Tamarack Street(includingthe intersectionof Wallace Avenue and East Tamarack Street)toincludelighting,signalization,paving,curb/gutter,sidewalk,and storm drainage; 2.Streetimprovements to Bridger Drive between Story Mill Road and Boylan Road as Boylan Road intersectswith Bridger Drive at the Creekwood Subdivision including lighting, signalization,paving,curb/gutter,sidewalk,and storm drainage;and 3.Intersectionimprovements at Story Mill Road and Bridger Drive includinglighting, signalization/channelization,paving,curb/gutter,sidewalk,and storm drainage. Canyon Gate Annexation Agreement 18 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 assessedin response to a duly passed resolutionof intentionto createone or more special improvement districtswhich would includethe above-describedproperty. Intheeventa specialdistrictor specialimprovement districtisnot utilizedforthecompletion 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 footage of property,taxablevaluationof theproperty,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 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 the Landowner. Canyon Gate Annexation Agreement 19 DATED this S day of M1decA ,202 2 . 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 ) :ss COUNTY OF c n ) On this 3 day of \lcud ,2013,beforeme,theundersigned,a Notary Public forthe Stateof h¼,personallyappeared Andrew Holloran,as Manager of Canyon Gate Partners,LLC,the Managing Member of Canyon Gate Investors,LLC,known to me to be thelandowner thatexecuted the withininstrument,and acknowledged to me thatthey executed the same forand on behalfof landowner. IN WITNESS WHEREOF,I have hereunto setmy hand and affixedmy officialsealtheday and year firstabove written. (SEAL) Not Pu i £40m42g forthestateofMontana Notary Pu e fo he Stateof (Ybwbr(*.SËÃL *soze ontana Residing at -2 _hn Ceò YYbn My CommissionExpires:·My Commission Expires /4/a38°2°23 (Use 4 digitsforexpirationyear) Canyon Gate Annexation Agreement 20 EXHIBIT B -AMI Matrix AM $90.400«enterMFIhere Description 1,0Person1.5Person2,0Person2,5Person3.0Person3.5Person4.0Person5.0Person income 40%$25,320 S27,140 $28,960 $30,760 S32,560 S34,360 S36,160 S39,0B049%$31,017 S33,247 S35,476 S37,681 S39,886 S42,091 $44.296 $47,87350%$31,650 $33,925 536,200 $38,450 S40.700 $42,950 $45,200 $48,85055%S34,815 S37,318 $39,820 S42,295 S44,770 $47,245 S49,720 $53.735 60%$37,980 S40,710 $43,440 S46,140 S48,840 551,540 $54,240 S58,62070%$44,310 $47,495 S50,680 $53,830 S56,980 $60,130 563,280 $68.39080%$50,640 554,280 $57.920 $61,520 565,420 S68,720 $72,320 578,16090%S56,970 $61,065 $65,160 369,210 573,260 577,310 $81,360 587,930 100%$63,300 $67,850 572,400 $76,900 $811400 $85,900 $90,400 $97,700110%569,630 $74,635 579,640 $84,590 $89,540 594.490 S99,440$107,470120%$75,960 $81,420 $86,880 $92,280 S97,680$103,080$108,480$117,240 hhxHousingCost 30% 40%S7,596 $8,142 $8,688 $9,228 $9.768 S10,308 $10,848 $41,724 49%$9,305 $9,974 S10,643 511,304 S11,966 S12.627 S13,289 S14,36250%S9,495 $10,178 S10,860 $11,535 $12,210 $12,885 $13,560 S14,65555%S10,445 S11,195 $11,946 $12,689 S13,431 S14,174 $14,916 516.124 60%511,394 512.243 S13.032 Si3,842 514,652 $15.462 516.272 517,586 70%S13,293 $14,249 515204 S16,149 S17,094 $18,039 $18,984 $20,517 80%$15,192 $16,284 517,376 S18,456 S19,536 $20,616 $21,696 $23,44890%S17.091 $18,320 S19,548 $20,763 S21,978 $23,193 $24,408 $26,379 100%S18,990 S20,355 $21,720 $23,070 S24,420 $25,770 $27,120 529,310110%S20,889 S22,391 S23,892 $25,377 S26,862 S28,347 $29,832 $32,241 120%S22,788 $24,426 $26,064 $27,684 S29,304 $30,924 S32,544 $35,172 Rate 3.50% Term 30.0 HOAMo,Fee $250 Downpayment 5.00% HomeValtre 40%S88.979 $99,549 $110,120$120,574$131,029$141,483$151,938$168,897 49%$122,067$135,016$147,965$160,772$173,578$186,385$199,192S219,96750%$125,744$138,9575152,170$165,238$178,306$191,374$204,442S225,641 55%$144,126$158,660$173,195$187,570$201,945$216,319$230,6945254,01460%$162,508$178,364$194,220$209,902$225,583$241,265$256,947$282,386 70%$199,273$217,771$236,270$254,565$272,861$291,156$309,451$339,13080%$236,038$257,179$278,320$299,229$320,138$341,047$361,955$395,874 90%$272,802$296,586$320,370$343,893$367,415$390,937$414,460$452,619 100%$309,567$335,994$362,420$388,556$414,692$440,828$466.964$509,363 110%$346,332$375,401$404,470$433,220$461,969$490,719$519,469$566,107 120%$383,097$414,808$446,520$477,883$509,247$540,610$571,973$622,851 Sotrce:HUD:Economic&PlawngSystems honotosemrhrcæ4Nöx2sagrestimaxopfricom.mteson.OJawomxkwtAvscatdskr.enlT-onaAvi Canyon Gate Annexation Agreement 21