2017 Developer's Agmt/Owl View LandingDEVELOPERS AGREEMENT
OWL VIEW LANDING
THIS AGREEMENT, made and entered into this day of December 2017, by and
between OWL CORPORATION, LLC, hereinafter called the "Developer", and the
CITY OF KALISPELL, State of Montana, hereinafter called, the "City":
WHEREAS, Developer applied for a Conditional Use Permit (CUP) for the 40 units of
apartments which was granted for the Owl View Landing subdivision by
the Kalispell City Council on June 5, 2017 in accordance with the Kalispell
Zoning Ordinance; and
WHEREAS, Condition 6 of the CUP states, "A minimum of 500 square feet of land per
unit which has recreational value determined by the Kalispell Parks and
Recreation Director, or recreational amenities equivalent to the fair
market value of 500 feet of land shall be provided; and
WHEREAS, the 40 units approval of the CUP is the first phase of Owl View Landing
and there will be additional phases proposed on the remaining RA-2 lands
owned by the Developer. The Developer intends to construct a recreational
amenity/club house in Phase 2 of Owl View Landing, which will provide a
more centralized location for the residents of the multi -family community.
WHEREAS, it is the intent and purpose of both Developer and the City to hereby enter
into an agreement, which will guarantee the full and satisfactory
completion of the recreational amenity.
THEREFORE, the parties agree as follows:
1. This agreement pertains to and includes the proposed development, which is
designated and identified as Owl View Landing, a 40-unit multi -family
residential project.
2. This agreement specifically addresses the recreation amenity. The 40-unit
apartment project is required to provide 20,000 square feet of recreational area or
cash equivalent in amenities. The 20,000 square feet or cash equivalent amenity
will be completed in Phase 2 and Construction of Phase 2 will begin within five
years from December 30, 2017.
3. As a guarantee of developing the recreational amenity, the Developer hereby and
concurrently with the subscription and execution of this agreement shall provide
a financial guarantee of $25,000, the estimated cash value of 20,000 square feet of
undeveloped, undivided land to the City.
4. The Developer does hereby confirm that said guarantee is from a bank or other
reputable institution or individual and acceptable to the City. This guarantee
shall be deposited with the City of Kalispell and certify to the following:
DEVELOPER'S AGREEMENT — OWL CORPORATION LLC/CITY OF KALISPELL Page I of 3
a. That the creditor guarantees funds in an amount of $25,000.
b. That if the Developer fails to complete the recreational amenity within five
years as specified in this agreement, the creditor will pay to the City
immediately, and without further action, such funds for the City to use as park
amenity within the City. For the terms of this agreement, completion is defined
as securing the building permit for the recreational amenity in excess of $25,000
of value.
C. That this letter of credit may not be withdrawn, or reduced in any amount,
until released by the City.
5. Performance by the Developer of the covenants set out in this agreement and in
conformance with the time schedule set forth in this agreement is of the essence;
accordingly, the Developer expressly understands and agrees that failure to meet
the time schedule to the specifications described herein shall be deemed a breach
to this agreement. The Developer hereby waives any notice of breach.
6. Upon completion of this agreement, the City agrees to release the guarantee to
the Developer.
7. Through this agreement with the Developer, the City agrees that the recreational
amenity condition is satisfied for Owl View Landing CUP, which is the subject of
this agreement.
8. This agreement shall inure to the benefit of and be binding upon any successors
in interest, heirs, or assignees.
IN WITNESS WHEREOF, the parties to this agreement have executed the same on the
day and year first above written:
OWL CORPORATION LLC, Developer
By:
Mark Owens, Managing Mem�er'
CITY OF KALISPELL
',Wl' City Ma-nager
DEVELOPER'S AGREEMENT — OWL CORPORATION LLC/CITY OF KALISPELL Page 2 of 3
STATE OF MONTANA )
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County of Flathead
On this �ftday of December 2017, before me, the undersigned, a Notary Public
for the State of Montana, personally appeared Mark Owens in his capacity as
Managing Member of Owl Corporation LLC that executed the foregoing instrument,
and acknowledged to me that he executed the same.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my
Notarial Seal the day and year in this certificate first above written.
%Oycoq KATHLEEN BOYCOTT NELSON
AR
NOTARY PUBLIC for the
SEAL
State of Montana
Residing at Kalispell, Montana
OF M
-
My Commission Expires
-- February 9, 2018_
STATE OF MONTANA )
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County of Flathead
Notary Public, StAe of Montana
Printed Name:XA7�YZXO� AOY4071—
Residing at MVP-r7--fA4*
My Commission Expires Alll��Vlg
On this day of December, 2017, before me, a Notary Public in and for the
State of Montana, personally appeared DOUG RUSSELL, known to me to be the City
Manager of the City of Kalispell, a municipality, and executed the within instrument
for the uses and purposes therein set forth, and that he was duly authorized to execute
the same on behalf of said municipality.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my
Notarial Seal, the day and year first above written.
JUDI A. FUNK
AR NOTARY PUBLIC for the
State of Montana
SEAL
OF 9
Residing at Kalispell, Montana
My Commission Expires
February 25, 2020
Notary Public, State of Montana
ed Name:
esiding
My mmissjon Expires
DEVELOPER'S AGREEMENT — OWL CORPORATION LLC/CITY OF KALISPELL Page 3 of 3