Laserfiche WebLink
centerline of Alpine Drive (f/k/a 153rd Avenue N.W.), except the park platted as NORTHFORK <br />LINKS ADDITION, and excluding roads and subject to easements of record as shown on <br />Exhibit A (collectively, the "Development Parcels"); and <br />WHEREAS, the City Code generally permits the CITY to require 10% of the acreage of <br />any plat to be dedicated for park purposes; and <br />WHEREAS, the CITY has indicated its desire to take park dedication for the future <br />phase in land; and <br />WHEREAS, since the execution of the AGREEMENT and the ADDENDUM, the CITY <br />has identified certain specific public park use needs that can be best satisfied by the dedication of <br />land described as Outlot E, MOORS ADDITION (the "Park Parcel"), as shown on Exhibit B, <br />and that the City prefers the dedication of the Park Parcel in lieu of other land or easements <br />previously agreed upon but not yet transferred; and <br />WHEREAS, the market value of the Park Parcel exceeds the value of the required park <br />dedication for the DEVELOPER' S remaining development; and <br />WHEREAS, the parties wish to determine the remaining park dedication requirements <br />for the entire Northfork PUD; and <br />NOW, THEREFORE, in consideration of the execution of the AGREEMENT and of the <br />mutual covenants contained herein, the parties agree as follows: <br />1. The DEVELOPER shall immediately convey fee title to Outlot E, MOORS ADDITION <br />to the CITY by general warranty deed. <br />2. The CITY shall reimburse the DEVELOPER $75,000.00 in recognition of the difference <br />between the market value of the Park Parcel and the cash value of the park dedication and <br />trail development obligations of the remaining phases of the Northfork PUD. <br />3. In recognition of Paragraphs 1 and 2 above, the CITY deems all park dedication and trail <br />development dedications and/or fees to be satisfied for the Northfork PUD in general and <br />the Development Parcels in particular, notwithstanding any language in the <br />AGREEMENT or ADDENDUM to the contrary. The forgoing sentence assumes no <br />more than 31 single-family lots are platted in the Development Parcels. In the event <br />more than 31 single-family lots are platted in the Development Parcels, additional fees <br />may be required. <br />4. All other terms and conditions of the AGREEMENT and ADDENDUM not amended by <br />this AMENDMENT shall remain in full force and effect. <br />In WITNESS WHEREOF, the parties have executed this AMENDMENT this day of <br />2015. <br />2 <br />