South View Estates Development Agreement Amendment No. 1 DEVELOPMENT AGREEMENT AMENDMENT NO. 1
THIS DEVELOPMENT AGREEMENT AMENDMENT NO. 1 (this "Amendment"), is
made and entered into as of July 10, 2023 (the "Dated Date"), by and between the CITY OF SALINA,
KANSAS, a municipal corporation duly organized under the laws of the State of Kansas(the"City"),and
SOUTH VIEW ESTATES,LLC, a Kansas limited liability company(the "Developer")(the Developer
and the City are collectively referred to as the"Parties"and each a"Party").
RECITALS
A. The City and Developer have entered into a certain Development Agreement dated as of
August 30, 2021 (the "Development Agreement") regarding the construction of the "South View
Estates"residential development(the"Project").
B. During the construction of the Project, the Developer has encountered challenges related
to the global COVID-19 pandemic and other scheduling and market challenges that could not have been
foreseen.
C. Capitalized terms used but not defined in this Amendment will have the meaning set forth
in the Development Agreement.
NOW, THEREFORE, in consideration of the foregoing and in consideration of the mutual
covenants and agreements herein contained and in the Development Agreement, the Parties agree as
follows:
1. Amendment to Exhibit F. Exhibit F to the Development Agreement is hereby amended
to read as set forth on Exhibit F attached hereto.
2. Amendment to Exhibit G. Exhibit G to the Development Agreement is hereby
amended to read as set forth on Exhibit G attached hereto.
3. Incorporation by Reference. The terms and provisions of the Development Agreement
not otherwise amended herein are incorporated herein by reference and are hereby ratified and confirmed.
4. Term. The term of this Amendment shall be conterminous with the term of the
Development Agreement.
5. Applicable Law. This Amendment is governed by the laws of the State of Kansas.
6. Counterparts. This Amendment may be executed in counterparts. Hand signatures
transmitted in PDF or similar format are also permitted as binding signatures to this Amendment.
[SIGNATURE PAGE FOLLOWS]
600596.20000\DEVELOPMENT AGREEMENT AMENDMENT NO. 1 v.5
1
IN WITNESS WHEREOF, the parties hereto have executed this Development Agreement
Amendment No. 1 as of the day and year first above written.
SOUTH VIEW ESTATES,LLC
By:
Name: C rG iy P Q 4-1
Title: rA c r.� Cr
ACKNOWLEDGMENT
STATE OF KANSAS )
) SS:
COUNTY OF SALINE )
This instrument was acknowledged before me on 3U I y i 3'l', 2023, by Craig Pie rr ,
a duly authorized Member of South View Estates, LLC, a Kansas limited liability company, tin behalf of
said limited liability company.
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NIKKI GODING Not. P blic .J
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600596.20000\DEVELOPMENT AGREEMENT AMENDMENT NO. 1
(DEVELOPER SIGNATURE PAGE TO DEVELOPMENT AGREEMENT AMENDMENT NO. 1)
CITY OF SALINA,KANSAS
(SEAL) /iii
By: � i,✓
Mayor ���
ATTEST
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ACKNOWLEDGMENT
STATE OF KANSAS )
) SS:
COUNTY OF SALINE )
This instrument was acknowledged before me on wa/ 13 4+' , 2023, by Mike Hoppock,
Mayor, and JoVonna A. Rutherford,Clerk, of the City of Salina,Kansas, a Kansas municipal corporation.
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NIKKI GODING Notary Public
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600596.20000\DEVELOPMENT AGREEMENT AMENDMENT NO. 1
(CITY SIGNATURE PAGE TO DEVELOPMENT AGREEMENT AMENDMENT NO. 1)
EXHIBIT F
PROJECT MILESTONES
Monthly Reduction for
Date Obligation Failure to Comply
90 days after Commencement of construction
expiration of
nullification period set
forth in K.S.A. 12-
5246
18 months after Completion of at least 14 single family homes 2.5%
commencement of and 22 townhome units available for sale and all
construction associated Internal Infrastructure Improvements
36 months after Completion of at least 30 single family homes 2.5%
commencement of and 44 townhome units available for sale and all
construction* associated Internal Infrastructure Improvements
48 months after Substantial completion of all Internal 2.5%
commencement of Infrastructure Improvements; Completion of at
construction* least 42 single family homes and 66 townhome
units available for sale
*12 months prior to the Project Milestone date,the Developer will notify the City of the progress towards
the applicable obligation and may request further modifications, which the City may grant in its sole
discretion
600596.20000\DEVELOPMENT AGREEMENT AMENDMENT NO. 1
EXHIBIT G
REQUIRED HOUSING STANDARDS
Single Family Detached Homes Town Homes
Maximum Initial Sales Price 1 $225,000 $190,000
Minimum Finished Square Feet 1,100 1,000
Minimum Number of Bedrooms 2 2
Minimum Level of Finish See attached spec sheet G-1 See attached spec sheet G-2
1First sale to a purchaser unaffiliated with the Developer or a Related Party
Developer will sell all residential units to owner-occupants, except that the Developer may sell town
home units located at the following addresses for rental purposes:
• 1104 Harbor Drive
• 1106 Harbor Drive
• 1107 Harbor Drive
• 1109 Harbor Drive
• 1110 Harbor Drive
• 1112 Harbor Drive
• 1119 Harbor Drive
• 1121 Harbor Drive
• 1122 Harbor Drive
• 1124 Harbor Drive
• 1125 Harbor Drive
• 1127 Harbor Drive
• 1128 Harbor Drive
• 1130 Harbor Drive
• 1134 Harbor Drive
• 1136 Harbor Drive
• 1140 Harbor Drive
• 1142 Harbor Drive
• 3024 Fountain Drive
• 3026 Fountain Drive
600596.20000\DEVELOPMENT AGREEMENT AMENDMENT NO. 1