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Home My WebLink AboutPW2003-0166 - Original - AMBIKA INC. - Local Improvement District No. 351 (LID 351) Assessment No. 010400 - 06/18/2003 �fN-r Records M eme KE Document W I.7XINOTON CONTRACT COVER SHEET This is to be completed by the Contract Manager prior to submission to City Clerks Office. All portions are to be completed, if you have questions, please contact Mary Simmons,City Clerks Office. }/ Vendor Name: 11J Yl � l E� I Y Vt Contract Number. This is assigned by Mary Simmons Vendor Number: Project Name: III ` 6& C V Contract Effective Date: Contract Termination Date: ID I Contract Renewal Notice (Days): Number of days required notice for termination or renewal or amendment Contract Manager: Department: PUI�IA�Y/ UV f b Abstract: ADCL7832 07/02 KENT Ww9NINOTON ASSESSMENT SETTLEMENT AGREEMENT Local Improvement District No. 351, Assessment No. 010400 THIS AGREEMENT is entered into between the CITY OF KENT, a Washington municipal corporation, ("City") and AMBIKA INC., a Washington corporation, ("Ambica"), located and doing business at 9212 South 237`h Place, Kent, WA 98031. RECITALS 1 Ambica own certain real property located at 1513 West Meeker Street in the city of Kent(the "Property"). 2 The Property is subject to an assessment under the City's Local Improvement District No. 351 ("LID 351"), Assessment No 010400 3 The original assessment amount is $80,634 00 The City charges this assessment in fifteen (15) annual installment payments, and to date, the City has assessed three (3) installment payments, the third payment due and becoming delinquent on July 5, 2003 To date, the total delinquent amount is $22,507 73; the amount currently due on installment payment number three (3) is $9,915 29, for a total amount due by July 5, 2003, of$32,423 02 The total amount due to pay the assessment in full is $96,930 22. 4 Ambica is negotiating to purchase certain real property located at the southeast comer of SE 256" Street and 104`h Avenue SE in the city of Kent. 5. The City, as part of its long-term capital improvements planning, intends to construct a right turn lane on 104th Avenue SE south of SE 2561h Street, allowing traffic northbound on 104th Avenue to turn eastbound on SE 256`h Street. 6 Ambica has offered to grant the City the necessary right-of-way and to construct this right turn lane at the southeast intersection of SE 256 h Street and 1041h Avenue SE as in- kind consideration representing full and final payment on Assessment No. 010400 in LID 351 ASSESSMENT SETTLEMENT AGREEMENT- 1 (bt"City of Kent and Ambica,Inc) 7 The City has agreed that the Ambica offer constitutes good and valuable consideration, equal to or exceeding the full amount due on this assessment NOW THEREFORE, the parties agree as follows AGREEMENT 1. Grant of Right-of-Way. Upon Ambica's purchase of the property located at the southeast corner of the intersection of 256`' Street and 104th Avenue SE, Ambica will grant to the City sufficient right-of-way, approximately twelve (12) feet in width, to construct a right turn lane along the property's entire frontage on 104th Ave SE, including the transition back to the existing lane width at the southerly property line to allow northbound traffic on 104th Avenue SE to turn right onto eastbound SE 256th Street Ambica will also grant sufficient right-of-way on SE 256`h Street to accommodate necessary turning radius and tapers 2 Construction of Imnrovements Ambica will construct the improvements referenced in Section 1 above, including, without limitation, pavement, curb, gutter, sidewalks, landscaping, drainage, street lighting and other miscellaneous improvements and potential signal pole relocation Ambica shall submit plans and specifications to construct these improvements and shall apply for and obtain all permits necessary to construct the improvements Ambica's plans and specifications are subject to review, amendment, and final approval and acceptance by the City's public works director 3. Timely Performance Ambica shall grant the necessary right-of-way, construct the required improvements, and obtain the City's acceptance of these improvements no later than June 30, 2004 4 City's Conditional Obligation to Pay Assessment If Ambica fulfill all the proceeding conditions within the time established, the City will transfer sufficient funds from the appropriate capital improvement budget(s) into the LID 351 account to pay in full all amounts owed on LID 351 Assessment No 010400, and Ambica will be fully released from any obligation to pay any amounts due on that assessment ASSESSMENT SETTLEMENT AGREEMENT-2 of 4 (btwn City of Kent and Ambica,Inc) 5 Stay of Assessment Penalties. The City will stay the imposition of any penalties that would otherwise be imposed against LID 351 Assessment No. 010400 from the effective date of this Agreement until June 30, 2004 After that date, if Ambica have not granted and constructed the required improvements, the City may back date and enforce penalties that would otherwise have accrued during the stay created by this Section 5. 6 Breach. If Ambica fail to grant the necessary right-of-way and construct the improvements referenced above within the time allowed, Assessment No 010400 will remain in full force and effect, and the City will retain all its right to impose interest and penalties on this assessment and to foreclose against the affected property for failure to make timely payment 7 Miscellaneous. A Non-Waiver of Breach The failure of the City to insist upon strict performance of any of the covenants and agreements contained in this Agreement, or to exercise any option conferred by this Agreement in one or more instances shall not be construed to be a waiver or relinquishment of those covenants, agreements or options, and the same shall be and remain in full force and effect. B. Resolution of Disputes and Governing Law This Agreement shall be governed by and construed in accordance with the laws of the State of Washington. If the parties are unable to settle any dispute, difference, or claim ansmg from the parties' performance of this Agreement, the exclusive means of resolving that dispute, difference or claim, shall only be by filing suit exclusively under the venue, rules and jurisdiction of the King County Superior Court, King County, Washington, unless the parties agree in writing to an alternative dispute resolution process In any claim or lawsuit for damages ansmg from the parties' performance of this Agreement, each party shall pay all its legal costs and attorney's fees incurred in defending or bringing such claim or lawsuit, in addition to any other recovery or award provided by law. C. Written Notice All communications regarding this Agreement shall be sent to the parties at the addresses listed on the signature page of the Agreement, unless notified to the contrary Any written notice hereunder shall become effective three (3)business days after the date of mailing by registered or certified marl, and shall be deemed sufficiently given if sent to the addressee at the address stated in this Agreement or such other address as may be hereafter specified in venting ASSESSMENT SETTLEMENT AGREEMENT-3 of 4 (btwn City of Kent andAmbeca Inc) D. Assignment Any assignment of this Agreement by either party without the written consent of the non-assigning party shall be void. E. Modification No waiver, alteration, or modification of any of the provisions of this Agreement shall be binding unless in writing and signed by a duly authorized representative of the City and Ambica F. Entire Agreement. The written provisions and teens of this Agreement, together with any Exhibits attached hereto, shall supersede all prior verbal statements of any officer or other representative of the City, and such statements shall not be effective or be construed as entering into or forming a part of or altering in any manner this Agreement All of the above documents are hereby made a part of this Agreement However, should any language in any of the Exhibits to this Agreement conflict with any language contained in this Agreement, the terms of this Agreement shall prevail. G Compliance with Laws Ambica agree to comply with all federal, state, and municipal laws, rules, and regulations that are now effective or in the future become applicable to Ambica's operations covered by this Agreement or accruing out of the performance of those operations. IN WITNESS, the parties below execute this Agreement, which shall become effective on the last date entered below. AMBICA: CITY: Ambica, Inc. City of Kent (�� A N By By. � IiS�'1lam`" Print N David Malik Print Name- Don Wickstrom Its: President Its Public arks erector DATE-- 3 DATE. ( � NOTICES TO BE SENT TO: NOTICES TO BE SENT TO: Ambica, Inc. City: David Malik, President Don Wickstrom, Public Works Director Ambica, Inc City of Kent 9212 South 237a' Place 220 Fourth Avenue South Kent, WA 98031 Kent, WA 98032 Off'5150 (telephone) (253) 856-5500 (telephone) 21 151A 4Q8/ (facsimile) (253) 856-6500 (facsimile) P\Crva\PILL+S\OprnPJce\9946\LIDAsttuvcmScttleAgr doc ASSESSMENT SETTLEMENT AGREEMENT-4 of 4 @ten City of Kent and Ambica,Inc)