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HomeMy WebLinkAbout4410 RESOLUTION NO: 4 4 10 A RESOLUTION OF THE CITY COUNCIL OF THE CITY , OF AUBURN, WASHINGTON, AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE A . DEVELOPMENT AGREEMENT BETWEEN THE CITY . AND PARKSTONE INVESTMENTS, INC., TO ALLOW THE DEVELOPMENT OF THE "RENAISSANCE AT AUBURN" PROJECT AT 5029 AUBURN WAY NORTH WHEREAS, former Aubum City Code 14.21, applicable to this project because of vesting, provided that the CITY could consider entering into a development agreement in instances when a property owner has a property or a development plan that warrants considerations of alternatives in how the development should proceed and in what standards should be used because of unusual property characteristics or different development factors; and WHEREAS, Parkstone Investments, Inc. requested the CITY consider approval of a development agreement to allow development of an 2.67 acre site with a 120 unit senior apartment and retail project; and WHEREAS, the City of Auburn Comprehensive Plan indicates that higher density developments and special development standards may be authorized for _ senior housing projeets; and WHEREAS, the proposed development agreement has been reviewed by the Public Works and Planning and Community Development Committees of the City Council; and Resolution No. 4410 Odober27, 2008 Page 1 WHEREAS, on July 11, 2007, the City Council conducted a duly noticed public hearing as required by ACC 14.21.050, following which the City Council denied the proposed development agreement; and WHEREAS, on July 31, 2007, Auburn Senior Apartments, LLC and Parkstone Investments, Inc., filed a petition seeking review of the land use decision pursuant to Chapter 36.70C Revised Code of Washington (RCV1); and WHEREAS, following a review of the pleadings of the City and the Developer, and a review of the record and having heard oral argument on January 18, 2008, the King County Superior Court entered an order on February 22, 2008, reversing the City Council's decision and remanding the development agreement for further consideration based on certain facets that the Superior Court deemed warranted; . and WHEREAS, on March 17, 2008, the City Council resumed its hearing on the proposed development agreement, and following consideration based on the record established by the court and Section 14.21.010.A of the Auburn City Code, directed staff to prepare the necessary document memorializing the City CounciPs findings, conclusions and decision for final review and approval by the City Council; and WHEREAS, the CITY hereby.finds that the proposed development agreement. is consistent with the following provisions of ACC 14.21: 1. Land Use Efficiencies. Provide efficient and effective use of Jand, open ~ space and public facilities that result in lower development costs and make , housing more affordable. Resolution No. 4410 October 27, 2008 Page 2 - 2. Improved Transitional Areas. Improve the sensitive development of transitional areas located befinreen different land uses, environmentally sensitive areas, and along significant corridors within the city. 3. Implementation of the Comprehensive Plan. Provide development that is consistent with tfie goals and policies of the comprehensive plan. 4. Enhanced Design Features. Provide building and structural designs that complemenf surrounding land uses and their environment. Design standards , should reflect quality site planning, landscaping and building architecture; . NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF AUBURN; , WASHINGTON, IN A REGULAR MEETING DULY ASSEMBLED, HEREWITH RESOLVES AS FOLLOWS: Section.1. The Mayor and City Clerk of the City of Aubum are herewith. . aut_horized to execute a Development Agreement with Parkstone Investments, Inc. : for the purposes of developing the Renaissance at Auburn project in substantial conformity with the. copy of said Agreement attached hereto, denominated as Attachment "A" and made a part hereof as though set forth in full herein. Sect6on 2. The Mayor is hereby authorized to implement such administrative procedures as may be necessary to carry out the directives of this legislation, including executing a Settlement Agreement and Release document in , substantial conformity with the copy of said Agreement attached hereto, denominated as Attachment "B" and made a part hereof as though set forth in full herein, settling, releasing and discharging all claims by Parkstone Jnvestments, Inc. that were Resolution No. 4410 October 27, 2008 Page 3 included or could have been included in Parkstone's Land Use Petition Act Pefition and Complaint, and related hereto the cases identifed in the recitals of said Attachment "B." Section 3. This Resolution shall take effect and be in full force and effect upon passage and signatures hereon. DATED and SIGNED this o4~day of O er 2008. ~ ~ , . P ER B. LEWIS, MAYOR ; , ATfEST: ' Danielle E. Daskam, City Clerk _ APPROVED AS TO FORM: aniel B. Heid, City Attomey Resolution No. 4410 October 27, 2008 Page 4 . ~ w ~ f 2O0 8i11400180 R@tU171 Addr2S8: PACIF0IC NW TIT AG 52.00 AUbUf~1 CI~/ CIer1C PAGE01 OF 021 CI~/ Of AUbUn1 . . KING4COUNTY34WA7 25 West Main St: - Auburn, WA 98001 RECORDER'S COVER SHEET Documenf Title(s) (or transactions contained therein): Development Agreement PACIFIC NORTHWEST TITLE ~ Sl Z -l ~ Reference Idumber(s) of Documents assigned or released: (~j . OAdditional reference #'s on page of_document Grantor(s)/Borrower(s) (Lasf name first, then first name and initials) Aubum, City of Grantee/AssigneeBeneficiary: (Last name first) 1. Parkstone Investments Legal Description (abbreyiated: i.e: lot, block, plat or section, township, range) That portion of Tract 30, White River Valley Home Tracts according to the Plat thereof E Additional legal is on, page 18_ . of:document. Assessor's Property Tax Parcel/Account Number 9360000189 ❑ Assessor Tax # no# yet assigned , ' . , CITY OF AUBURN - PARKSTONE INVESTMENTS, INC. DEVELOPMENT AGREEMENT THIS DEVELOPMENT AGREEMENT (the "Agreement") is made and entered into as of the,~~~!day of ZgQe~by and between PARKSTONE INVESTMENTS, INC., a Washington carporation (referned to herein as the "Developer"); and the CITY OF AUBURN, a State of Washington municipal"rty (the "City°). WITNESSETH: • WHEREAS, Washingfon State law (RCW 36:706.1707200) permits and allows local jurisdictions to enter into development agreements to address situations where converfional development requirements may not accommodate the development in a way that best serves the needs of the local jurisdiction and the development; and, - WHEREAS, the City of Aubum adopted Chapter 14.21 of the Aubum City Code to allow the City to consider development agreements consistent with State law; and WHEREAS, the Developer desires to develop certain real property owned or controlled by it, as hereinafter described for the consfiuction and development of the projects hereinafter described, in accordance witti the development standards designafied in this Agreement; and, ~ WHEREAS, pursuant to the authority provided in: Sections 36.1OB.170-200 of the Revised Code of Washington (RCU1) and Aubum City Code 14.21, the parties her+eto have agreed to enter into this Agreement to set, forth the term and conditions of the, development on the Properties in order to protect more fully such development rights, and, WHEREAS, in connection with the proposed Development, the Developer and the City recogn¢e that the scope and teim of the planned developments under this Agreement accompGsh the statutory aims of comprehensive; orderly planning and developmert within the City, thus providing benefits to the citizens and residents of the City exceeding any deroga~tion from the City's ~ Development Agreement - Page 1 ND: 19241.002 48434888-7555v1 , . . zoning powers for the duration of the Project and provide public benefiis through the donation and sef'aside of those public facil'fies described and identified in this Agreement; and, WHEREAS, pursuant to RCW. 36.70B.200 and Aubum City Code 14.21.050, a public , hearing was held on the 11th day of July 2007. NOW, THEREFORE, in consideration of the fioregoing, the mutual covenants of the parties contained herein, and pursuant to RCW 36.70B.170-200 and Aubum City Code 14.21, THE PARTIES HERETO AGREE as follows: SECTION 1. DEFINED TERMS Terrns not othenerise defined herein have the meaning set forth in 36.706.170 RGW, fhe pmvisions of which are incorporated herein by reference. SECTION 2. PURPOSE The Developer desire.s to develop certain real property owned by Supasatit IV LLC and controlled by Developer by means of a fully executed Commercial and Investment Real Estate Purchase and Sale Agreement, such real property consisting of approximately 2.67 acres of land, more or less, located in the City, consisting of the parcel listed on Exhibit A attached hereto and incorporated herein by reference (the °Property°) for the development of the Renaissance at Aubum senior housing and Complementary Retail hereinafter described as the °Project°, in accordance with the development regulations designated in this Agreement, Pursuant to the State of Washington 36.7013.170: RCW and Aubum City Code 14.21, the parties hereto haVe agreed to enter into this Agreemenf to set forth the terms and condi5ons of the development of the Project in order to set forth the development standards and other provisions that shall apply to and govem and vest the development, use, and mitigaation of the development of the Project for the duration specified in this Agreement . The Developer also desires #o obtain from the City in connection with the development of the Property assurances (i) that the Property will be appropriately wned, (ii) that upon receipt of its Development Agreement - Page 2 ' ; . ND: 19241.002 4843-0888-7555v1 , developmentiand construction peRnits it may proceed with the development and construction of the Project; and (i'i~ tiat such development rights will be vested and such permits shall be valid for the duration of the Project, which the City does hereby agnee to and guarantee for a period of ten (10) , years from the date of execution of this Agreement: ` In connection with ttie proposed Project, Developer and the City recagn¢e that the scope and term of the developments under this Agreement accomplish the stahrtoryaims of comprehensive planning, and, orderiy development within the City, thus providing benefits to the citizens and residents of the City exceeding any derogation from the City's zoning powers for the duration of the Project and pro6ide public benefits through the conshuction.of those public facil'fies described and identified in this Agreement. This Agreement describes the plans of development and establishes standards, guidelines and conditions that will apply to the Project, to prov_ide such predictability to Developer with regard to future development plans.. These standards are intended tb provide certainty to the City in planning while permitting a certain degree of flexibility for the Developer in undertaking its development. SECTION 3. THE PROPERTY The Property consists of one parcel as legally described in Exhibit A. Consistent with the terms ofi this Development Agreement, the Property will be sub-d+ivided and split into two parcels (the °Propertiesl through rec;obation of a short plat to allow separate IegaF ownership of the Renaissance at Aubum and the Complementary Retail on the Properties. SECTION 4. PARTIES The City is the City of Aubum, a State of Washington municipality, exercising govemmental functions and ~powers pursuant to the laws of the State of Washington and the Aubum City Code. The principal office is located at 25 West Main Street, Aubum, Washington 980014998. Development Agreement - Page 3 ' ND: 19241.002 4843-0888-7555v1 . , ; / The Deyeloper, Parkstone investrnents, inc., a Washington corporation, has its principal offices at 10324 Vaimay Avenue Northwest; Seattle, Washington 98177. Any reference hereafter to °Developer".:shail be deemed bD inciude any succ essors.and/or assigns of Parkstone Investments, Inc., as permitted in Section 17. ~ SECTION 5. THE PROJECT . . The planned Project includes the Renaissance at Aubum and the Complementary Retail. The site consists of one (1) tax parcel containing a total of appmximately 116,349 square feet or 2.67 acres • of area located at 5029 Aubum Way North. The Developec proposes to short plat the, site, dividing the existing tax parcef in4o two (2) separate legal lots via a short plat to develop and own the two distincfi but complementary project . components. All appropriate access, use and maintenance easements will 6e granted between the property owners to insure ~long-term viabil'ity of each complementary use. The first component is The Renaissance, at Aubum, a 120-unit independent living.senior apartment commun'rty consisting of a single "four (4) story wood-frame building (the "Renaissancel. The second component is complementary retail comprised of a single one (1) story building containing approximately five (5) commerciaUretail bays of 1,200 square feet each, for a total rentable space of approximately 6,000 square feet (the °Complementary Retaill. The Developer intends to seek funding from the Washington State Housing Finance Commission to allow the Renaissance to be age-resficted independent senior housing seNing households with all primary household members thaf are 62 or older and incume-resfricted serving moderate- income households that eam less than 60% ofiarea median income adjusted for household size. If such funding is util'¢ed by the Project, then the long-term age- and income-resfictions will be in force for a minimum of 44 years fibm the date the Renaissance is placed in service, consistent with recorded Regulatory Aqreements granted by the Developer to the Washington State Housing Finance Commission. Developmert Agreement - Page 4 ND: 19241.002 4843-0888-7555v1 , . , . 1 The DevelopershalF have the opfion to substitute market rate senior housing for some or all of the income-restricted un'its. If Regulatory Agreements are not entered irto by the Developerwith the Washington State Housing Finance Commission, then _ the Developer shall r+ecord a covenant against the Property, effective for the life of the Project, resficting the age of all primary household members to 62 years or older. General purpose access to the Properties shall be provided via a single curb cut on Aubum Way North, and channelization shall be provided within Aubum Way North to prevent left tums into/from the Properties. In addition, the Developer shall provide: 1) a secondary emergency access curb cut from Aubum Way North on the north end of the Property, which access shall be used only for emergency access, and 2) stub road improvements on the northwestem edge of the Property, to allow for a potential future connection to a road constructed by others west of the Property. The. Developer shall continue to caoperate with neighboring propefies, as those properties change ownership or control, or as such properties are proposed for development, to work toward providing a second general purpose access to the Property. SECTION 6. CERTAINTY OF DEVELOPMENT AGREEMENT 6.01 DeveloqmentAQr+eement Deemed Controllinq. This Agreement, once recorded, and any terms, conditions, maps,notes, reference.s, or regulations which are a part of the Agreement shall be considered enforceable elements of the Aubum City Code. In the case of an _ explicit conflict with any other provisions of the Aubum City Code, this Agreement shall take precedence. 6.02 Vestin . The Developer shall have the vested right to develop the Project described in Section 5 for a period of ten (10) years from the date of execution of this Agr+eement, subject only to the exception in subsection 6.05. The Gity's ordinances, resolutions, rules and regulations, and official policies goveming permitted land uses, density, design, improvement, and , construction standarcJs for the Project shall be those C'~ty ordinances, resolutions, rules and : • " regulations, and official policies in force as of May 31, 2007. Development Agreement - Page 5 . ' ND: 19241.002 4843-0888-7555y1 6.03 Subseauent Actions., This Agreement shall not prevent the City, in reviewing subsequent development applications for different projects on the property, from applying new rules, regulations, and policies which do not conflict with those rules, regulations, and policies applicable to the subject property, nor shall this Agreement prevent the City from denying or conditionally approving any subsequent development applica6on on the basis of such new rules, regulations, and policies. , - 6.04 Chanqes in State or.Federal Law. In the event that state or federal laws or - regulations, enacted after this Agreement has been entered into, prevent or preclude compliance m(fth one (1) or more of the provisions of the Agreement, such provisions of the Agreement shall be modified or suspended as may be necessary to comply with such state or federal laws or regulations follawing modification procedures in Section 14 for an amendment or cancellation. 6.05 Ememencv Sftuations. The City may suspend the issuance of building peRnits for the planned Project, 'rf it finds that continued construction would place surrounding residents or the immediate community, or both, in a condition dangerousto their health or safety, or both. SECTION 7. CONSOLIDATED PLAN The Project as proposed is in material compliance with the planning goals and objectives of the City, as set forth in the City of Aubum 2004 - 2008 Consolidated Plan. SECTION 8. COMPREHENSNE PLAN The Project as proposed is in material compliance with the planning goals and objectives of the City, as set forth in the City of Aubum Comprehensive. Plan, as amended in December 2007. The project density is consistent with:Plan policies that support higher densfies for senior housing projects. SECTION 9. APPROVED U$ES 8 STANDARD$ FOR DEVELOPMENT 9.01 Permitted Uses. This Agreement authorizes the development of a four-story, 120 unit apartment building - designed for independent senior I'nring, together with associated - Development Agreement - Page 6 ND: 19241.002 48434888-7555v1 parking, landscaping, outdoor plaza and other amenities,as depicted on the site plan (Exhibit B): (The parties ackrrowledge that the site plan will need to be revised to incorporate the secondary emergency access curb cut and stub road improvements described in Section 5.) The Agreement also authorizes the construcction of a maximum 6000 sq. ft. single story retail building. Future . commercial uses in the retail building shall be as allowed in the G3 Heavy Commercial Zone as of May 31, 2007. This Agreement negates the need ibr the Developer to obtain a Condi6onal Use Permit to construct apartments'within the existing C3 Heavy Commercial zone. 9.02 Off-Street Patkin4. Off-street parking facilities for the planned Project are as set forth on the site plan attached hereto as Exhibit B. A minimum of 100 parking stalls shall be provided on-site for the Project. 9.03 Landscaping. Landscaping for the planned Project is as set forth in Exhibit B, , attached to this Agreement and made part hereof. - 9.04. Public Facilities/lnfrastructure. The following types of public facilities and infrastructure will service the Project that require City review and approval: storm water systems, road and related improvements (including curb, gutter, and sidewalks, channelization 'within Aubum Way North to prevent left tums into/from the site), and other eligible project components. All public facil'rtesrinfrastructure shall be insfalled by the Developer and inspected and approved by the City. All public facilifiesfinfrastructure shall 6e constructed to City of Aubum standards as in effect as of May 31, 2007. 9.05 Future short alaf. This Agreement authorizes the Developer to divide the Properly into two lots through a short plat process, with one lot containing the retail building and one lot containing the Renaissance. This short plat shall not impact the #otal number of dwelling units allowed in the Renaissance. The Developer shall pmvitle cross-accQSS and parking agreements between the two par+cels. Approval of the sfiort plat will follow the City's established review and approval process, provided that no additional 3EPA itview shall be required for the short plat process. Development Agreement - Page 7 ND: 19241:002 4843-0888-7555v1 9.06 Other standards. Ali development standards of the C3 Heavy Commercial zone and other applicable sections of the Aubum Zoning Code, Aubum City Code, and Aubum Design Standards in effect on May 31, 2007 shall apply to the Project, unless other-wise modfied herein. 9.07. Develoaees Obliaafions: Nothing in this Section shall be deemed to alter the ~obligation of the Developer to obtain all peRnits necessary before the commencement of each ~ phase of the development of each of the Properties. ~ 9.08 Additional Conditions of Aaproval. The Developer shall be obligated to undertake and complete the following measures: a. Prior to issuance of a Csrtificate of Occupancy, the Developer shall have purchased a van with at least a 12 person capacity to provide shuttle senrice exclusively for residents of the Project For the Iife of the Project, assigned staff shall be responsible , for using such van to provide a shuttle senrice for residents on a specific schedule of reasonable hours seven days per week, 365 days per year; e.g. ftom 9:00 a:m. to 9:00 p:m. - b. Prior to the time each residert moves into a unit,,information shall be provided on how the van senrice operates, and also how the site is accessed by private vehicle.. Residents shall be provided extra copies of the materials pertaining to site access and encouraged to share that information with their guests. c. At least 30 days,.prior to aritcipated issuance of a Certificate of Occupancy, the . Developer shall submif an application for a special permit to allow directional signs to the Project The City Engineer shall promptiy review the application and determine the . required size of sign lettering to be legible at posted speeds, the number and location of signs to be posted within the public right of way by the DeVeloper on Aubum Way North just to the south of 49th $treet, on 49th Street at 6 Street; and on B Street near 277th Street, in order to direct drivers to the Property from the south. The, directional sign requirement nuns with the pnoperty and will be the obligation of the owner to maintain in seroiceable condition until such time as the Cityr detetmines the signs are nof needed. Development Agreement - Page 8 . ND: 19241.002 4843-0888-7555v1. . ' . d. Prior to issuance of a Gertficate of Occupancy, a six foot solid fence shall be installed along the westem boundary of the Property. Evergreen landscaping shall be installed by the Developer in.a two foot wide area on the adjacent property, west of this solid fence, with a species selected that has a minimum three foot height at time of planting and a height of at least 10 feet at maturity. The Developer shall be responsible for,maintaining the fence and landscaping. Fencing and landscaping shall conform to the . code requirements in effect on May 31, 2007. . SECTION 10. ENVIRONMENTAL PROCEDURE This Agreement is a pmject as defined by the Washington State Environmental Policy Act (SEPA). A Mitigated Determination of Non-Signficance 'was issued in compliance with the, environmental procedures as outlined in the City of Aubum City Code, Chapter 16.06 on May 30, 2007. The Mfigated Determination of Non-Significance and related :mitigation measures, are set forth in Exhibit C, attached to this Agreement and made part hereof. SECTION 11. IMPACT FEES The Developer agrees to pay in full all applicable impact fees (including but not limited to traffic, parks, fire, and school, to the extent that they apply) in effect as of the date of the application of the building pennit: As to the currently pending building permit, as provided for in Aubum City Code 19.04.040 (traffic),19.06.040 (fire), and 19.08.030 (parks), the amount of impact fees to be paid shall be based upon the impact fee schedules in effect on May 31, 2007, the date a complete building permit application was submitted for the Renaissance. All applicable impact fees shall be paid in full prior to commencement of any construuction or site work, and the Developer shall provide written notice to the Building Division thirty (30) days prior to commencement of any construction or site work: SECTION 12. GOVERNMENT APPROVALS ~ Should the Developer at any time require the approyal of any non-City govemmental body or boaro, whether of local, regional, state or federal jurisdiction,, the Developer shall bear the sole Oevelopment Agreement - Page 9 ND: 19241.002 4843-0888-7555v1' cASt and responsibility for obtaining the approval. The City, upon request by Developer, shall lend its full cooperabon and affiRnative support if it deems such would be in the interest of timely performance under this Agreement, and such cooperation and support would not compromise the , - responsib'ilities of the City, including its responsibilities to the Developer as set forth in this Agreement The Developer shall compensate the Gity for its costs involving such acfions in , accbrdance with an agreemerrt for payment of such costs as negotiated by the parfies. Nothing contained herein is designed to relieve the Developer of the necessity of complying with the laws , goveming the permitting requirements, conditions, terms or resfrictions. - SECTION 13. PUBLIC NOTICE AND HEARINGS The City represents and waRants that it has conducted at least one public hearing and has pu6lished notice of intent to consider this Agreement in accordance with the requirements of 36.706.200 and Aubum CityCode 14.21.050. SECTION 14. AMENDMENT MODIFICATION, OR TERMINATION This agreement may be amended, modified or terminated in conformitq with the requirements of RCW 36.706.470-200, and other applicable laws, nules,or regulations, and upon mutual consent of the parties, which mutual consent of the parties shall be evidenced by a written agr+eement therefore, signed by the parties hereto. It is provided, however, that nothing in this Section shall limit or otherwise affect the City's ability to terminate unilaterally or modiiy this Agreement as a result of periodic review, in conformiry with the requiremenfs of RCW 36.706.170- 200, and other applicable laws, rules or r+egulations. The Planning.Director may interpret the words and meanings of this Agreement in oroer to re,solve conflicts in interpretation. Pursuant to Aubum City Code 14.21.090, minor adjusfinents may be made and approved by the Planning Directur. Minor adjustments are those uuhich do not violate the teRns of the . Agreement Major adjustrnerds are those which, wheri determined by the Planning Director, violate the terms of the Agreement. When the Planning Director deteRnines a change constitutes a major _ Development Agreement - Page 10 , ND: 19241.002 4843-0888 7555v1 adjustrnent, an amendment to the Agreement is required and the process is the same as a new application. SECTION 15. PERIODIC REVIEW REQUIRED This Agneement shall be reviewed by the City periodically at least every 12 months from the date this Agreement is entered into, at which review the Developer, oc successor in interest ; thereto, shall be required to demonstrate good faith compliance with this Agreement The body to conduct such review shall be the. Planning and Communitj+ Development Comm'ittee (the "Committee") of the Aubum City CouriciL SECTION 16. RESULTS OF PERIODIC REVIEW 16.01 If the Committee has reason to believe that the Developer may not be complying with the terms of this Agreement, written notice specifying the non-compliance shall be given to the Developer and.the Developer shall have thirty (30) days to bring the project into compliance: 16.02 Public HearinQ. If the Committee has reasons to believe that the Developer has not brought the Project into compliance after such written notice, the Committee may conduct a public hearing at which time the Developer must demonstrate good faith compGance with the terms of this Agreement. The burden on this issue is upon the Developer. The Committee shall determine upon the basis of substantial evidence whether or not the Developer has, for the period under review, complied in good faith with the terms and condifions of this Agneement. 16.03 Compliance. If the Gommittee .finds and determines on the basis of substantial evidence that the Developer has complied in good fdb with the teRns and conditions of this Agreement during the period under review, no further action is required. However, rf it is determined on the bas+s ofi substantial evidence that the Developer has not complied in good faith with the ferms and condfions of'this Agreement during the,period of review, proceedings may be initiated to terminate or modify this Agreement : Development Agreement - Page 11 , ND: 19241.002 4843-0888-7555v1 , ~ . SECTION 17. GENERAL PROVISIONS ' 17.01 -Notices. Demands . and Communications. Formal notices, demands and ' communications between the'City and the Developer shall be sufficiently given'if, and shall not be deemed given unless, dispatched by cerfified mail, postage prepaid, retumed receipt requested, or dervered personally, to the principal offices of the City and the Developer as follows: City Develoaer Mayor Mr: Daniel Stoner City of Aubum Parkstone InVestments, Inc. 25 West Main Street 10324 Valmay Avenue Northwest " Aubum, Washington 980014998 Seattle, Washington 98177 17.02 Service of Process. All senrices of prncess shall be effective if served in person or through substitution on those individuals designated for acceptance of other communication pursuant to Section 17.01. 17.03 Conflict of tnteresfs. No member, official or employee of the City shall make any decision relating to the Agreemenf which affects his or her personal interests or the interests of any corporation, partnership or association in which he or she is d'irectly or indirectly interested. The Developer warrants that it` has not paid or given, and shall not pay or give, any third person any money or other consideration for obtaining this Agreement. 17.04 Non-Liabilfir of Cfir Officials Emalovees. and AQents.. No member, official, employee or agent of the City shall be personally liable to the Developer, or any successor in interest, in the event of any default or bmach by the City or for any amount which may become due to the Developer or successor oron any,obligation under the terms of:this Agreement 17.05 Enforced Delav. Performance by either party under:this Agreement shall not be deemed to be in default where delays or defaults are due fo war; insurrection; strikes, lock-outs; riots; floods; earthquakes; fires; casualties; acts of God; acts of the pub6c enemy, epidemics; quarantine restrictions; fieight embargoes; lack of transportation; govemmental resfictions of priority; litigation (including sub filed by thircl partie.s conceming or arising out of this Agreement); Develapme,nt Agreement - Page 12 ND: 1924102 4843-0888-7555v1 . `unusually severe weather, inability to secure necessary labor, materials or toois; acts or failure to act of any public or govemmental: authority or entity (other than the acts or failure to act of the City which shall not excuse performance by the City), or any other causes (other than lack of funds of Developeo beyond the control or without the fault of the party claiming an extension of time to perform. An extension of time for any such cause shall be for a period of the enforced delay and . shall commence to run from the commencement of the cause, if notice by the. party claiming such extension is sent bo the other party within fifteen (15) calendar days of the commencement of the cause.. Times of performance under this Agreement may also be extended in writing by the City's Mayor or designee. . 17:06 Plans and Data. _ If the Developer defaults or fails to comply with the requirements hereof, and the default or failure is not properly cured, the Developer shall deliver to . the City's Mayor any and all plans and data conceming any proposed pubGc improvements - pursuant to this Agreemenf which shall thereafter be the property of the City at no additional cost to the City. . 17.07 Provisions Not Meraed with Deeds. None of the provisions of this Agreement are intended to or shall be merged by:the Statutory Warraniy Deeds of the Property. 17.08 Tffle of Parts and.Sections. Any 6tles of the Parts, Sections or Subsections of this Agreement are inserted fior convenience of reference only and shatt be disregarded in construing or interpreting any 'part of its provisions. 17.09 Hold Harmle'ss. The Developer shall indemnify and hold hartnless the City and theic officers, agents and employees, or any of them from any and al{ claims, actions, su'rts, liability, loss, costs; expenses, and damages of any nature whatsoever, by any reason of or arising ouf of the negligent act or omission.of the Developer, its officers, agents, employees; or any of them rela6ng to or arising out of the performance of this Agreement If a final judgment is rendered' against the City, its officers, agents, employees and/or any. of them, or jantiy against the City and the Developer and their respective, officers, agents and employees, or any of them, the Developer shall satisfy the same to the extent that such judgment was due to the Developers negligent acts - or omissions. , Development Agreement - Page 13 ND: 19241.002 4843-0888-7555v1 17.10 Enforcement Riqhts and Remetlies Cumulative. This Agreemert shall be ~ enfoiceable by the City, Developer, or successor-in-interest notwithstanding any change in any applicable general or specific plan, zoning, subdivision, or building regulation adopted by the Ciry which alters or amends the rules, regulations, or policies specified in this Agreement: Enforcement , may be through any remedy-or enfor+cement method or process, or combination thereof, allowed under law and/or equfty. Except as otherwise stated in this Agreement, the rights and remedies of the Pardes are cumulative, and:the exercise or failure to exercise one or more of these rights or , , remedies by either party shall not preclude the exercise by it, at the same time or different times, ofany right or remedy for the same default or any other default by the other party. 17.11 Ri4ht of Entrv: During the life of this Agreement and until all improvements required under this Agreement to be completed are completed, the Developer shall grant to the City, its agents, employees and representatives the right ofientry on to the Property during noRnal , , business hours. - 17.12 Real Estate Commissions. Neither parly shall be rresponsible to the other for any real estate commissions or brokerage fees which may arise from, this Agreement or otherwise be ' incurred by the other party. 17.13 Aaalicable Law. This Agreement shall be interpreted under and pursuant to the laws of the State of Washington. Venue for any legal action brought hereunder shall be in the King County Superior Court 17.14 Severabil' . If any term, provision, covenant oc condition of this Agreement is. held by a court of competent jurisdiction to be invalid, void or unenforceable, the remainder of the provisions shall continue in full force and effect unless the rights and obligations of the parties haye been materially altered or abridged by such invalidation, voiding or unenforceabil'ity. 17.15 Leqal Actions. In the event any legal action is commenc:ed to interpret or to enforce the terms of this Agreement, or to coIlect damages as a result of any breach of the Agreement, the party preva'iling in any such action shall be entitled to recover against the party not prevailing all reasonable attomey fees and costs incumed in the action. Development Agreement - Page 14 ND: 19241.002 4843-0888-7555v1 17.16 Bindinq Upon Successors. This Agreement shall be binding upon and inure to the benefit of the heirs, administrators, executors, successors in interest and assigns of each of the parties hereto except that there shall be no transfer of any interest tD any of the parties hereto except pursuant to the terms of this Agreement. Any reference in this Agreement to a specifically named party shall be deemed to apply tD any successor heir, administrator, executor or assign of such party who has acquired.an` interest in compliance. with the teRns ofi this Agreement, or under law. . 17.17 Parties Not Co-ventures. Nothing in this. Agreement is intended to or does establish the parties as partners, co-ventures, or principal and agent with one another, nor employees and/or employers of each other. 17.18 Warranfies. The City expresses no warranty or other representation to the Developer other than those expressed within this Agreement, as to fitness or condition of the Property. 17:19 Reasonable Aqarovals. The approval of a party of any documentation or • submissions herein called for shall not be unreasonably withheld unless the text clearly indicates a differert standarcf. All such approvals shall be given or denied in a timely and expeditious fasfiion: 17.20 Recordation. Within 10 days after the effective date of this Agreement, or any modfication or the cancellation thereof, the City Clerk shall have this Agreement, or the ' modfication or cancellation notice, mcorded with the County Recorder of tGng County. 17.21 Execution of Ofher pocumentation. The City and the Developer agree tD execute any further documentation that may be necessary tD carry out the intent and obligations under this Agreement. ' 17.22 Comalete Understandin4 of the Parties. This Agreement is executed in two (2). duplicate originals, each of wfiich is deemed to be an original. This Agreement consists of 16 pages and attached Exhibits and' constitutes the entire understanding and agreement of the parties. Development Agreement - Page 15 ND: 19241.002 4843-0888-7555v1 DATED this 17 d y of CI ONE IN ST S, INC. 701- Peter Levuis, Mayor anie. Stoner, P id Dated: OCT -2 7 2008 Dated: NouDKgev, 1008 Att D-anleHe Daskam, City Clerk - prov as t , iel ei , ity ey . Development Agreement - Page 16 ND: 19241.002 4843-0888-7555v1 EXHlBIT A , THAT PORTION OF TRACT 30, WHTfE RNER VALLEY HOME TRACTS, ACCORDING TO THE PLAT THEREOF RECORDED IN VOLUME 13 OF PLATS, PAGE(S) 17, IN KING COUNTY; WASHINGTON, DESCRIBED AS FOLLOWS: BEGINNING AT THE NORTHWEST CORNER OF SAID TR.ACT 30; THENCE SOUTH 0°10'32" WEST ALONG TIiE WEST LINE OF SAID TRACT, A DISTANCE OF 300 FEET TO TIiE TRUE POINT OF BEGINNING; THENCE CONTINUING SOUTH 00° I0'32" WEST 370.8 FEET; THENCE'SOUTH 89049'28" EAST 211.21 FEET TO TFE EAST LINE OF SAID.TRACT 30; THENCE NORTH 0°12'39" EAST ALONG SAID EAST L1NE 370.8 FEET; TI~NGE NORTH 89049'28" 'V~EST 210.44 FEET TO TFiE TRUE POINT OF BEGINNING; AND THAT PORTION OF TRACT 3 1, WHITE RNER HOME TRAGTS, ACCORDING TO THE PLAT THEREOF RECORDED IN VOLUME 13 OF PLATS, PAGE($) 17, IN KING COUNTY, WASHINGTON, DESCRIBED AS FOLLOWS: , BEGINNING AT THE NORTHWEST CORNER OF SAID TRACT 31; TTiENCE SOUTH 1058'00" WEST ALONG THE WEST L1NE OF SAID TRACT 559.30 FEET TO THE TRUE POINT OF BEGINNING; THENCE CONTINUING SOUTH 1958'00" WEST ALONG SAID WEST i,INE 114.27 FEET; THENCE NORTH 59029' 10" EAST ALONG A RADIAL LINE 243.52 FEBT TO THE WESTERLY LINE OF PRIMARY STATE HIGHWAY NO. 5; THENCE NORTHERLY ALONG SAID WESTERLY LINE, BEING THE ARC OF A CURVE TO THE RIGHT HAVING A RADNS OF 2905 FEET AN ARCH DISTANCE OF 90.69 FEET; THENCE SOiTTH 610 16'29" WEST ALONG A R.ADIAL LINE 183.67 FEET TO THE TRUE POINT OF BEGIlINING; EXCEPT THAT PORTION THEREOF LYIlVG WITHIN TBE FOLLOWING DESCRIBED TRACT: • • BEGINNING AT THE POINT OF INTERSECTION OF THE EAST LINE OF SAID TRACT 31 WTI'H THE WESTERLY LINE OF STATE ROAD NO. 5; THENCE SOUTH ALONG THE EA3T LINE OF SAID TRACT 31, A DISTANCE OF 7 FEET; THENCE SOUTH 59027'. WEST 49 FEET; THENCE NORTH 32°16' WEST 124 FEET; . THENCE NORTH 65031' EAST 53 FEET, MORE OR LESS, TO THE WESTERLY LINE OF SAID STATE ROAD NO. 5; THENCE SOUTHEASTERLY ALONG SAID WESTERLY LINE 112 FEET, MORE OR LESS, TO THE POINT OF BEGINNING, AND . THAT PORTION OF TRACT 31, WHITE RNER VAI:LEY HOME TRACTS, ACCORDING TO THE PLAT THEREOF RECORDBD IN VOLUME 13 OF PLATS, PAGE(S) 17, IN KING COUNTY, WASHINGTON,,DESCRIBED AS FOLLOWS: BEGINNING AT THE NORTHWEST CORNER OF SAID TRAGT 30 OF SAID PLAT; THENCE SOUTH 0°10'32" WEST ALONG THE WEST LINE OF SAID TRACT 30, A DISTANCE OF 300 FEET; THENCE SOUTH 89°49'28" EAST TO THE WEST LINE OF SAID TRACT 31 AND TBE TRUE POINT OF BEGINNING; THENCE SOUTH 0012'39" WEST TO A POINT LI'IING 559.30 FEET-SOUTH OF T'HE NORTHWEST CORNER OF SAID TRACT:31; . . EXHIBIT A . THENCE INORTH 61916'29". EAST. 183.67 FEET, MORE OF LESS, TO THE SOUTHWESTERLY LINE OF PRIMARY STATE HIGHWAY NO. 5; . THENCE NOR'I'HEASTERLY. AL.ONG SOUTHWESTERLY LINE TO A. POINT WHICH BEARS SOUTH 89°49'28" EAST FROM THE TRUE POINT OF BEGINNING; THENCE NORTH 89049'28" WEST TO THE TRUE POINT OF BEGINNING; EXCEPT THAT PORTION THEREOF CONDEMNED IN ICING COUNTY SUPERIOR COURT CAUSE NUMBER 626590; AND EXCEP'T THAT PORTION THEREOF LYING WITHIN THE EOLLOWIlNG DESCRIBED TR.AC'I': BEGINNING AT THE POINT OFINTERSECTION OF THE EAST LINE OF SAID TRAGT 31 WTTH TBE WESTERLY LINE OF STATE ROADNO. 5; . THENCE SOUTH ALONG TBE EAST-LINE OF SAID TRACT 31, A DISTANCE OF 7 FEET; THENCE SOUTH 59027' WEST 49 FEET; THENCE NORTH 320I6' WEST 224 FEET; THENCE NORTH 65031' EAST.53 FEET, MORE OR LESS, TO TFE WESTERLY LINE OF SAID STA`PE ROAD NO. 5; THENCE SOUTHEASTERLY ALONG SAID WESTERLY LINE 112 FEET, MORE OR LESS, TO THE POINT OF BEGINNING; EXCEPT PORTIONS AS CONDBMNED IN CITY OF ALTBURN. ORDINANCE NUMBERS 2511 AND 2659. • ~ ~ EXHIBIT R 20'-0" EMERGENCY ONLY ACCESS WITH NUMBER OF PAGES 1_ . REMOVABLE BOLLARDS / i ~,,s►'' : y~ ~/~~°°P •'~f P ~ ~ ~ *°o* r ~ ~ _ . ~ 1 . . i ' , . ~ ~p ~ a i f m a tl ~o • ` ~ ° t$j B ~ vi ~ s# / n ` . V. t a `h . \ \ ° o m M ! $ j m ' •W - ; 'iiiiii~i ; r ~ ~ . ✓ ' ♦ ' ix.~ ~ ~ ~ ~ ~ ~ a F SS ~ ` o. , a g .9 ^ - '~.JS" .5 f~ji•_. ~ . . ~ . . . . ~ ~ i ~ ~ ~ •~i ~ • ~ ~y«~'ta ;.>~;y~. • . ~„.n b~''- "'t~.~y~ i-'s.: ;'~;5~;,,,'~?'s•+' :+ib.~~"'f ~ . t . r . . ~'j'~~:✓ .h,k. ! .l ~ i ►.,,xk~t,~ a K:.`.'S ,t' f'C._ e ~ }y O., + . K• 3~~~ 3 k~ i ~~1+~ '~~'4.,~'Ya i.l}~ ~t7: ,i'S: a k• ~ F•.. i•~s, f•~~y'~ ;SA ~S~ , ~ ~r.. 5:1f J1i ~ •'x'u'. ~ .pr .y°-'i`r~~ t =•js'_ a; t } ~,1 \j. . r~~ L~. S.~:ic 7'.." ,~,t' . . o c~`_ '__9;Wr0 • ~ . - A~ ' ' v . . .5 - SS -55-- - -SS- - -5S- - -SS- ~f-- -~S- ~ 20'-0" STUB ROAD IPAPROVEMENTS RENAISSANCE AT AUBURN SENIOR SITE ADDRE55: 5029 AUBURN WAY NORTti, aUBURN, WA , ~ , EXHIBIT «B» ..t. L vA* . -.-u.a.~-. . ~ ~ Peter B. Lewis, Ma) - WAS HINGTON 25 wesr nnain meet * nubum wA 9aooi-499e * www.aubumwa.gov * 253-931-3 . FINAL M1TtGATED DETERM(NATION OF NON-SIGNFICANCE • SEP07-0003 DESCRIPTION OF PROPOSAL: Development Agreement to ailow the construcdon of a 120 unit senior apartment proJect. and 6000 sq, ft: retaii bufldng on a 2:67 acre site within a°C3° Heavy Commeraaf zone districc;t.. • . PROPONENT: Keith Jarnes, Legato Gonsulting 4.OCATION:, 5029 Aubum Way North; west side of the street LEAD AGENCY: City of Aubum MtTICATtON MEASURES: • 1. Compensatory flood storage vin'll be required to. mitigate the dispiacemeM of 8ood storag!e voiume at a i. to 1 ratio caused by filt keing placed foc conshudion activvities. • 2 Ldt tuin channel'¢ation shap be instaUed in Aubum WayNotth to the satisfaction of the City Engineer to miNgate potential left tumirig movement impads: . 'The tead agency for this proposal has determined that it does nvf have a probable significant adverse Impact on the enviconinerit. An environmentai impad statement (ElS) is not required under RCIi/ 43.21 C:030(2)(c). This dec;ision was made after reView o# a compteted environmerdal chedcfist and other iryformation on file with the lead agency. This infortnatiort is available on the •pWblic on request. . : . ' REOPONStBLE 'OFFICtAL: Oavid.Osalci, AICP . POStT10W'i1TLE: Interim Diredar of Planning,.Buiiding _ ADDRESS• 25 Wes~ Mai ~efopment . . and . Aubum, 1NA 98001. (253 090 . . DATE ISSUED: . Mav 30. 2007 SIGNATURE: . Note: This determination does rtot constttute approval of the propQsal. Approval of the proposal can oniy.be made, by the legislative or administrative body vested with that authority: The proposal is required to meetap applicabte regulations: . Any person aggrievecl of this finaF deteRninafion may file an appeal with the Aubum City Cleric within 21 days of the date of lssuanoe of this notice., All appeals of the above detemiination must be filed by 5:00 P.M. on June 20: 200 vviM reauired fee. . : . . . EXHIBIT "C" . . . AUBURN * MORE -rHM You uMAGu-tE . . 'v SETTLEIVIENT AGREEMEN'T AND RELEASE This Settlement Agreement and Release (the "Settlement Agreement") is made and entered into this J-7 "-'-day of October, 2008, by and between Aubum Senior Apartments LLC and Park:stone Investments, Inc. ("Plaintiffs"), and the City of Auburn, including all elected officials, various department heads, and employees ("Defendant"). RECITALS A..: Plaintiffs asked Defendant to enter into a Development Agreement (DA) pursuant to Auburn City Code (ACC) Ch. 14.21 for construction of a 120-unit affordable senior apartment coininunity with complementary retail uses. If approved, the DA would have allowed Plaintiffs . to develop their property with greater density than would otherwise be allowed pursuant to a Conditional Use Permit (CUP) from the City. _ B. At an open public meeting held July 11, 2007, after a public heazing, the City Council declined to enter into a Development Agreement with Plaintiffs. C. On or about July 31, 2007, Plaintiffs timely filed a Summons and Land Use Petition and Complaint for Damages in the Superior Court for King County, Cause No. 07-2- - 25163-4 KNT (hereinafter the "LUPA Petition and ComplainY'); D. In the LUPA Petition and Complaint, Plaintiffs alleged that the Defendant's decision to withhold authorization for the Mayor to sign their proposed Development Agreement was arbitrary, capricious, and unlawful; and subjected Defendant to a claim for damages, attorneys fees and costs pursuant to RCW Ch. 64.40. E. The Superior Court conducted a hearing with regazd to Petitioners' LUPA appeal on January 18, 2008. By Order dated February 22, 2008, the Superior Court reversed the City Council's decision and remanded the' matter back to the City Council for further action. Subsequently, the Court also entered.an Order setting Plaintiffs' damage claims for trial on February 23, 2009. F. The City timely filed a Notice of Appeal to the Court of Appeals,. Division I, seeking review of "the Order on. Land Use Petition, entered on February 22, 2008," Cause No. 61426-6 ("the Appeal"). By letter dated October 9, 2008, the Court entered an Order staying the appeal until October 30, 2008. G. On October 27, 2008, the City Council passed Resolution No. 4410, which approved a Development Agreement with Plaintiffs on terms acceptable to both parties. H. The Defendant herein expressly and unequivocally denies all the claims asserted against it by Plaintiffs in the above-referenced legal proceedings. Page 1 r I. The parties desire to enter into this Settlement Agreement in order to provide for the full settlement and discharge of a11 claims by the Plaintiffs which are or might have been made against the Defendant in the LUPA Petition and Complaint, upon the terms and conditions , set forth herein. AGREEMENT The parties agree as follows: 1. Release and Discharge. aIn consideration of the payment set forth in Section 4, below, and City approval of the Development Agreement described in. Recital G, above, Plaintiffs hereby release and forever discliarge Defendant from any and all past, present, or future claims, demands, obligations, aetions; causes of action; claims, rights; -damages, costs, attomeys' fees, iosses of services, expenses and compensation of any nature whatsoever, whether. based on tort, contract, civil rights law; or other theory of recovery, including, but not limited to, claims under RCW Ch. 64.40, which the Plaintiffs now have, or which may hereafter accrue or otherwise be acquired, which aze, or might have been, the subject of the LUPA Petition and Complaint, including any future claim of Plaintiffs' representa.tives -or heirs regarding the LUPA Petition and Complaint, which have resulted or may result from the alleged acts or omissions of the Defendant. This release and discharge shall also apply to Defendant's past, present, and future officers, attomeys, agents, servants, representatives, employees, predecessors and successors in interest, and assigns, and all other persons, firms, or corpora.tions with whom any of the former have been, are now, or may hereafter be affiliated. b. This release is fully binding and constitutes a complete settlement by the Plaintiffs and Defendant, their heirs, assigns, and successors of all claims which are, or might have been, the subject of the LUPA Petition and Complaint. c. This release shall not operate as a bar to any action to enforce the DA. 2. Dismissal of Pending Lawsuits and Appeals. In further consideration of the payment set forth in Section 4, below, Plaintiffs agree to dismiss, with prejudice and without fees, the LUPA Petition and Complaint identified herein, within ten (10) days of the effective date of this Settlement Agreement. In retum, Defendant also agrees to dismiss the Appeal with prejudice and without fees, 3. Denial of Liabilitv. It is understood and agreed_to by the parties that this settlement is a compromise of a . disputed claim, and the payment is not to be construed as an ad.mission of liability on the patt of Page 2 ~ the Defendant, by whom liability is expressly denied. It is further agreed that any payment or other concession/release made in this Settlement Agreement shall not be construed or asserted as an admission of liability, wrongdoing, or fault by any party. 4. Pavment. In consideration of the release and discharge set forth in Section 1, above, the Defendant agrees to pay Plaintiffs the sum of $200;000, within five (5) days of the effective da.te of this Settlement Agreement. 5. Attornevs' Fees. All parties hereto sha11 bear all attorneys' fees and costs incurred by them arising from the actions of their own counsel iri connection with the LUPA Petition and Complaint, the Appeal, and tliis Settlement Agreement, and the matters referred to herein. 6. Governina Law. This Settlement Agreement sha11 be construed and interpreted in accordance with the - laws of the State of Washington. 7. Additional Docuffients. , All parties agree to cooperate fully and execute any and all supplementary documents and . to take all additional actions which may be necessary or appropriate to give full force and effect to the basic terms and intent of this Settlement Agreement. 8. No 'I'hird-Partv Beneficfaries. Except as may be expressly provided herein, this Settlement Agreement is for the benefit of the parties hereto only and is not intended to benefit any other person or entity, and no person or entity not a party to this Settlement Agreement sha11 have any third-party beneficiary or other righfs whatsoever hereunder. 9. SeverabilitvLSavings Clause: Should any part of this Settlement Agreement or any pmvision contained in this Agreement be rendered or declared invalid, the invalidation of such part or portion of this Agreement shall not invalidate the remaining portions thereof. The remaining parts and provisions of this Agreement shall remain in full force and effect. Page 3 i 10. Modafications lbv Written Aereement Only. The obligations in this SettlementAgreement may be modified only by written agreement of the parties; signed by duly authorized representatives of each of the settling parties. Any such modification shall not affect any other provision of this Settlement Agreement. 11. Entire Agreement. This Settlement Agreement constitutes the entire agreement between the parties. This Settlement Agreementis fully integrated and constitutes the complete and final agreement between. the parties. All previous agreements, offers, counteroffers, and negotiations are. merged herein. There are no other or further agreements which modify the terms of this Settlement Agreement. This Settlement Agreement cannot be modified or amended in any way (except in writing as set forth in 3ection 10, above). 12. Authoritv to Bind. In executing this Settlement Agreement, each party acknowledges that the person or persons signing on his/her/its behalf have authority to bind the party he/she/it represents. Each party further represents that the per"son or persons signing on his/her/its belialf are competent and of lawful age, - have been fully advised by counsel in connection with the execution of this Agreement, and that such persons do so freely and voluntarily. 13. Obligation of Good Faith and. Fair Dealins. The parties agree that each of the parties is giving up certain rights, claims, and defenses in executing this Settlement Agreement, and each party hereby agrees to act in good faith in carrying out its respective duties and obligations herein. 14. Headings Not Controlling. The paragraph headings included-herein are for reference only and are not a part of this Settlement Agreement. The headings shall not control or alter the meaning of this Settlement Agreement as set forth in the text. 15. Equal Particiaation in Drafting. The parties have each participated and had an equal opportunity to participate in the drafting of this Settlement Agreement: No ambiguity sha11 be construed against any party based upon a claim that such party drafted the ambiguous language. Page 4 16. Effectiveness. This Settlement Agreement sha11 become effective following execution by each party and 24 calendaz days following approval of tYie Development Agreement described in Recital G, above, and upon confirmation by tlie Developer that no timely appeal of the Development Agreemerit was filed. 17. Acknowledeement. The Plaintiffs and Defendant hereby acknowledge by their signature below that they have had the advice of counsel of their own choosing with regard to the meaning and intent of this SetElement Agreement, and that said counsel has explained the full legal import of this Settlexnent Agreement to them. _ DATED: rV Od~Pf ~Z N a ~t Plaintiff DATED: , Plaintiff . OCT 2 7 2008 . DATED: OF A ' r--- ~ B : Peter B. Lewis Its: 1Vlayor ND: 19241.002 4830-8074-2659v 1 ~ Page 5