Loading...
South View Estates Development Agreement Addendum No. 2 DEVELOPMENT AGREEMENT ADDENDUM A. The City of Salina, Kansas(the"City") and South View Estates, LLC (the "Developer") have entered into a certain Development Agreement dated as of August 30,2021,as amended by that certain Development Agreement Amendment No. 1 dated as of July 10, 2023 (as may be further amended from time to time, the "Development Agreement") regarding the construction of the "South View Estates" residential development(the"Project"). B. The Developer and the City desire to clarify that for purposes of the Development Agreement, including the "Minimum Finished Square Feet" requirements set forth in Exhibit G to the Development Agreement, "finished square feet"means"the total area of finished, above-grade residential space excluding porches,balconies, garages,basements, attic spaces,and any unheated areas." C. All housing units that have commenced construction and been issued a building permit prior to October 1, 2023 (the "Commenced Units") will be deemed to have met the minimum finished square feet threshold set forth in the Development Agreement. To the extent any of the Commenced Units do not meet the minimum threshold of finished square feet as measured pursuant to this Development Agreement Addendum,the City hereby waives such deficiencies for those Commenced Units. This waiver will not apply to any housing units that have not been issued a building permit- prior to October 1, 2023. Developer acknowledges that failure to meet the minimum finished square feet threshold as calculated pursuant to this Development Agreement Addendum for any housing unit that was issued a building permit after October 1, 2023, will result in an event of default under the Development Agreement and give the City the right to exercise remedies against the Developer pursuant to the Development Agreement. D. This Development Agreement Addendum may be executed in counterparts. Hand signatures transmitted in PDF or similar electronic format are also permitted as binding signatures to this Development Agreement Addendum. [SIGNATURE PAGE FOLLOWS] IN WITNESS WHEREOF, the parties hereto have executed this Development Agreement Addendum effective as of October 1, 2023. SOUTH VIEW ESTATES,LLC By: Name: CI CC b Title: ( \ C--. ACKNOWLEDGMENT STATE OF KANSAS ) ) SS: COUNTY OF SALINE ) This instrument was acknowledged before me on ©C cc9cc►'26 ,2023, by Cra/Ci Ylercy,a duly authorized Member of South View Estates,LLC,a Kansas limited liability company,on ikhalf of said limited liability company. ( ' dr • NIKKI GODING Notary Public (SE`7,.11? € Notary Public-Stat- of Kansas N My Appt.Expires '7 i _. 1kk Goal nty Typed or Printed Name of No Public My Appointment Expires: / 1.31a6. CITY OF SALINA,KANSAS (SEAL) By: .14I ayor ATTEST: By: City Clerk ACKNOWLEDGMENT STATE OF KANSAS ) ) SS: COUNTY OF SALINE ) This instrument was acknowledged before me on QC4[ter 23 , 2023, by Mike Hoppock, Mayor, and Nikki Goding, Clerk, of the City of Salina, Kansas, a Kansas municipal corporation. SHANDI L. WICKS Jet Notary Public-St a of Kansas Q 10 0.460 My Appt.Expire&4 IZq Notary Public (SEAL) c. (lc nei i L IN r GICs Typed or Printed Name of Notary Public My Appointment Expires: L1-2'1- 2624