Water Latecomer Agmt ContractMOUNTAIN SUNRISE WATER LATECOMERS AGREEMENT
NP AND WILKENSEN ROAD
THIS AGREEMENT is made the 24th day of August, 2005, between the City of Yelm, a municipal corporation, hereinafter referred to as the “City” and Mountain Sunrise LLC, its successors
and assigns, hereinafter referred to as the “Developer”;
WHEREAS, the Developer has constructed at its own cost and expense certain municipal WATER system improvements (hereinafter referred to as “facilities”) that are described in Exhibit
B to this Agreement; and within the benefit area also described in said Exhibit B; and
WHEREAS, those facilities have been constructed in accordance with the standards of the City of Yelm and plans on file in the office of the Community Development Department for the City
of Yelm; and
WHEREAS, the City and Developer desire to enter into a contract pursuant to the authority granted by Chapter 35.91 RCW and Chapter 13.12 YMC, whereby provisions are made for the reimbursement
of the Developer and its assigns by any owners of real estate who did not contribute to the original cost of such facilities and who subsequently tap or use the same of a fair pro rata
share of the cost of construction of such facilities; and
WHEREAS, the Developer has prepared the following exhibits which are attached to this Agreement or filed with the Community Development Department and described in this Agreement:
Exhibit A, consisting of:
Ordinance No. 834, City of Yelm
Exhibit B, consisting of:
A listing of eligible costs attributed to the facilities;
The basis (formula) for distribution of that cost among all properties which benefit or may benefit by said facilities;
A listing of each property, including the Assessor’s parcel number, ownership, description, pertinent dimensions and other data used in the calculation of the fee; and
The latecomer fee for that property.
WHEREAS, the Developer has offered and the City is willing to accept said facilities as part of the City’s WATER system and, in return, collect from future users of said
facilities their pro rata share of the cost of said facilities to be reimbursed to the Developer, and
WHEREAS, the Yelm City Council has held a hearing and adopted an Ordinance as required by Sections13.12.020 and 030 YMC authorizing the Mayor of Yelm to execute this Agreement;
NOW, THEREFORE, the parties hereby agree as follows:
1. The City shall accept ownership of said facilities and the Developer shall execute any documents necessary to place complete ownership of said facilities in the City. From the time
of acceptance by the City, the facilities shall belong to the City and the City shall be responsible for their maintenance and operation and shall be entitled to all revenues derived
from the use of said facilities.
2. For a period of fifteen (15) years from the date of final City Council approval of the project, that date being August 24, 2020, the City shall collect from the owners of properties
outlined on Exhibit B and listed on Exhibit B, prior to allowing the use by said properties of said facilities as shown on Exhibit B, the fair pro rata share of the cost of the facilities
together with interest as provided in paragraph 3 and shall pay said sums to the Developer after deducting ten percent (10%) of the collected reimbursed amount as a fee for administering
the terms of this Agreement: PROVIDED, however, that if a court of competent jurisdiction determines that the City lacks the legal ability to collect any portion of said costs or fees
or interest thereon, the City shall have no independent liability to the Owner for such sums. This Agreement, including Exhibits A and B, having been approved by the Developer, and
having been approved by Ordinance and signed by the Mayor pursuant to Chapter 13.12 YMC, shall be recorded with the Thurston County Auditor at the expense of the Owner, in accordance
with YMC 13.12.040.
3. The Developer shall be entitled to interest reimbursement on compliance with the following terms: PROVIDED, that the aggregate amount of interest shall not exceed the equitable share
of the cost of the system allocated to the property owners.
The maximum term for calculation of the interest shall be ten (10) years, though payment shall be made over fifteen (15) years.
Interest shall be paid on the latecomer’s fee calculated as shown in Exhibit B in accordance with the following formula:
I=C*iT/12
I = Total interest charge
C = Latecomers cost
i = Interest rate (6.00%)
T = Time in months since project was accepted to date of each latecomer’s hookup (up to but not exceeding 120 months)
Reimbursement shall be collected by the City of Yelm from those tapping or using said facilities as provided in the previous paragraph and in accordance with Exhibit B.
4. Effective Date. This agreement shall be effective as of the 9th day of September, 2005, and latecomer fees shall be collected hereunder for all projects and/or properties approved
for hookup to or through subject facilities as provided for herein, for a period of fifteen (15) years from September 9, 2005.
In the event that the Developer assigns any interest in the Agreement, the Developer shall deliver a timely written notice of the assignment to the City. All payments made by the City
under this Agreement shall be sent to the Developer at the following address:
Mountain Sunrise LLC
P.O. Box 73130
Puyallup, WA 98373-0130
Or to such other address or assignee as the Developer may specify by written notice to the City. The City shall not be bound to make any payment to Owner or assignee at any other address
or payable directly to any assignee unless the required notice has been received by the City at least ten (10) days before the payment is due. The City shall not be bound to divide
any payment between the Owner and any other person or between any payees.
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date and year first written above.
City of Yelm Developer
By: ____________________________ By: ____________________________
Adam Rivas, MAYOR OWNER
ATTEST: _______________________
Agnes Bennick, CITY CLERK
STATE OF WASHINGTON )
) ss
COUNTY OF THURSTON )
On this ________ day of _________________, 2005, before me personally appeared Adam Rivas, to me known to be the Mayor of Yelm, the municipal corporation that executed the within and
foregoing instrument, and acknowledged said instrument to be the free and voluntary act and deed of said corporation, for the uses and purposes therein mentioned and on oath stated that
he is authorized to execute said instrument.
IN WITNESS WHEROF I have hereunto set my hand and affixed my official seal the day and year first above written.
________________________________
Notary Public in and for the State of Washington,
residing in ________________________
My commission expires _____________.
STATE OF WASHINGTON )
) ss
COUNTY OF THURSTON )
On this day personally appeared before me ________________, to me known to be the individual described in and who executed the within and foregoing instrument, and acknowledged that
he/she signed the same as his/her free and voluntary act and deed, for the uses and purposes therein mentioned.
GIVEN under my hand and official seal this ____ day of _______, 2005.
________________________________
Notary Public in and for the State of Washington,
residing in ________________________
My commission expires _____________.
Approved as to form:
By: _________________________
City Attorney