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HomeMy WebLinkAboutRESOLUTION NO. 2018-25 RESOLUTION NO. 2018-25 RESOLUTION APPROVING THE AMENDED DEVELOPMENT AGREEMENT FOR HEARTLAND HEIGHTS FIRST ADDITION IN THE CITY OF FAIRFAX, LINN COUNTY, IOWA WHEREAS, an Amended Development Agreement for Heartland Heights First Addition in the City of Fairfax, Linn County, Iowa has been submitted to the City of Fairfax by Iowa Lot Development, LLC; and WHEREAS, said Amended Development Agreement, revises Recitals Numbers 30, 31, and 39 of the Heartland Heights First Addition Development Agreement as previously approved by the City with Resolution No. 2017-11 on March 14t", 2017; and WHEREAS, Hall and Hall Engineers, Inc. has reviewed said Amended Development Agreement for Heartland Heights First Addition Final Plat and recommends approval of said Amended Development Agreement for Heartland Heights First Addition in the City of Fairfax, Linn County, Iowa. NOW, THEREFORE BE IT RESOLVED, by the City Council of the City of Fairfax, Iowa, that the Amended Development Agreement for the final Plat of Heartland Heights First Addition in the City of Fairfax, Linn County, Iowa, are hereby acknowledged and approved on the part of the City of Fairfax, Linn County, Iowa. BE IT FURTHER RESOLVED, by the City Council of Fairfax, Iowa, that the Mayor and the City Clerk/Treasurer are hereby authorized and directed to execute said Resolution. Passed and approved this 8"' day of May, 2018. AYES: Daly, Kell, and Volk NAYS: None ABSENT: Otto and Wainwright urnell Frieden, Mayor ATTEST: C nthia Stimson, City Clerk/Treasurer T DEVELOPMENT AGREEMENT This Development Agreement (this "Agreement") is entered into this 15"' day of March, 2017, by and between the undersigned property owner (hereinafter referred to as the DEVELOPER) and the City of Fairfax, Linn County, Iowa (hereinafter referred to as the CITY). 0xy�r�1161 1. The DEVELOPER is owner of the following described property: See Attached Exhibit "A" 2. The DEVELOPER proposes to record a final plat situated on a portion of the Real Estate to be known as Heartland Heights First: Addition in the City of Fairfax, Linn County, Iowa and has prepared a proposed final plat of such addition (the "Plat"). Said Addition shall consist of Lot 1. through Lot 97, and Lots 'A' and 'B' (Public Streets Right-of-way), all inclusive. NOW BE IT RESOLVED, the DEVELOPER and the CITY hereby agree as follows: The DEVELOPER and any contractor or other agent employed by the DEVELOPER shall provide insurance as reasonably required by the CITY when working within the public rights-of-way. THAT PRIOR TO THE ISSUANCE OF A BUILDING PERMIT for Lots 2 and 3, Lots 6 through 12 all inclusive, and Lots 79 through 96 all inclusive, the DEVELOPER shall construct the storm water drainage swales as shown on the approved Plan of Improvements for the Heartland Heights First Addition, as shown on the "Heartland Heights — 1st Addition in the City of Fairfax, Linn County, Iowa •— Phase 3 Street Paving, Beverly Road Trail Paving and Storm Sewer Plan of Improvements" Signed and Sealed on March 3, 2017. These storm water drainage swales, located within the Private Storm Water Drainage and Public Storm Sewer Easements, shall be stabilized with permanent ground cover. THAT PRIOR TO THE ISSUANCE OF A FINAL OR TEMPORARY CERTIFICATE OF OCCUPANCY for Lots 2 and 3, Lots 6 through 12 all inclusive, Lots 15 through 21 all inclusive, and Lots 28 through 97 all inclusive, the DEVELOPER shall provide certification by a civil engineer licensed in the State of Iowa verifying that the runoff from the 1.00 -year storm event can be conveyed through the proposed development on these Lots without damage to the building structures. The DEVELOPER shall provide the low openings for these Lots. The DFVFLOPER shall own and maintain the storm water drainage swales located within the Private Storm Water Drainage and Public Storm Sewer Easements, which shall convey the 100 -year storm event overland through Lots 2 and 3, Lots 6 through 1.2 all inclusive, Lots 15 through 2.1 all inclusive, and Lois 28 through 97 all inclusive. The DFVEI.OPER also agrees riot to restrict the overland conveyance of the 100 -year storm event through these drainage swales, S. The City shall own and maintain the storm sewer facilities (culverts, storm sewer, intakes, storm manholes, and drain -tiles), including the culvert outlet protection (revetment:) located within the Private Storm Water Drainage and Public Storm Sewer Easements. 6. THAT PRIOR TO THE ISSUANCE OF A BUILDING PERMIT on Lot 79, which is located within the FEMA Special Flood Hazard Area (SFHA), this Lot shall meet the requirements of Chapter 160 — Flood Plain Ordinance, of the City's Code of Ordinances, and the FEMA Flood Plain Regulations. 7. The DEVELOPER shall establish an individual Letter of Credit in the amount of $19,696.00 ($400.00 per Acre) to be paid to the CITY for the Storm Water Fee for Heartland Heights First Addition. This Fee was waived as part of Condition No. 17 of the Heartland Heights Subdivision Preliminary Plat Acceptance of Conditions, Resolution No. 2016-43, based upon the premise that the DEVELOPER shall provide additional storm water management for future developments beyond the Heartland Heights Subdivision with the two proposed regional detention ponds. At this time in which the DEVELOPER is final platting Heartland Heights First Addition, the status of these two proposed regional ponds is unclear, and the extent of which these two ponds will provide storm water management beyond the overall Heartland Heights Subdivision is unclear as well. Once the extent of these two regional detention ponds is clearly established, is acceptable to the City of Fairfax, the Iowa DNR, and the Army Corp of Engineers, and the amount of off-site storm water mitigation beyond the overall Heartland Heights subdivision is determined, the CITY and the DEVELOPER shall finalize the amount of this $19,696.00 fee that the DEVELOPER shall pay to the CITY. If the entire area of these two regionals detention ponds as established in the approved preliminary plat is maintained with the final design and construction of these two ponds, then the entire $19,696.00 Storm Water Fee to the CITY shall be waived. If no offsite storm water management beyond the overall Heartland Heights subdivision is provided for with these regional detention ponds, then the DEVELOPER shall pay the CITY the entire $19,696.00 Storm Water Fee for Heartland Heights First Addition. The Storm Water Management Fee shall be pro -rated if the final design and construction of these two regional detention ponds falls somewhere in between these two scenarios. If the DEVELOPER fails to perform its obligations to pay the Storm Water Management Fee that is determined once the,final design of these regional detention ponds is complete, the CITY will have the automatic right to draw on this letter of credit. 8. ON OR BEFORE OCTOBER 1, 2018, THE DEVELOPER shall provide permanent storm water management facilities (storm water mitigation and storm water quality) per the Cedar Rapids Metropolitan Area Design Standards and Specifications for the entire Heartland Heights First Addition. NO BUILDING PERMITS WITHIN THE HEARTLAND HEIGHTS FIRST ADDITION SHALL BE ISSUED AFTER OCTOBER 1, 2018 until the permanent storm water management facilities area installed and accepted by the CITY. From the time that this Agreement is executed until the CITY accepts these permanent storm water management facilities, The DEVELOPER shall provide temporary sediment basins located between Heartland Heights First Addition and the existing creek. 9. TI IAT PRIOR TO THE ISSUANCE OF A FINAL CERTIFICATE OF OCCUPANCY, the DEVELOPER shall: a. Construct 5' wide concrete sidewalks along the front yard street frontages adjacent to Lots 2 through 97 all inclusive. b. Construct a 5' wide concrete sidewalk along Beverly Road adjacent to Lot 2S. c.. Construct a 5' wide concrete sidewalks along the side yard street frontages adjacent to Lots 12, 18, 32, 33,40, 41, 48, 49, 56, 62, 63, 70, 71, 78, 86, 87, 96, and 97. d. Construct pedestrian ramps with a 5'x5' landings at each street intersection as shown on the "Heartland Heights —1st Addition in the City of Fairfax, Linn County, Iowa -- Phase 3 Street Paving, Beverly Road Trail Paving and Storm Sewer Plan of Improvements" Signed and Sealed on March 3, 201.7. e. The DEVELOPER shall be responsible for the maintenance (including snow removal), repair, and replacement of all 5' wide sidewalks, sidewalk pedestrian ramps, and sidewalk landings located within the public streets rights-of-way adjacent to each Lot within Heartland Heights First Addition. 10. When there are pedestrian facilities located along 801h Street SW at the Beverly Road intersection, and the CITY deems it necessary, the DEVELOPER shall install sidewalks along Beverly Road adjacent to Lots 2, 13, 14, and 2.4. 11. THAT PRIOR TO THE ISSUANCE OF A TEMPORARY OR FINAL CERTIFICATE OF OCCUPANCY FOR LOT 1 OF THE HEARTLAND HEIGHTS FIRST ADDITION, OR AT THE TIME THAT BEVERLY ROAD IS EXTENDED WEST OF HEARTLAND HEIGHTS FIRST ADDITION, WHICHEVER OCCURS FIRST, the DEVELOPER shall construct an 11' wide concrete trail along the north side of Beverly Road as shown on the "Heartland Heights —1st Addition in the City of Fairfax, Linn County, Iowa — Phase 3 Street Paving, Beverly Road Trail Paving and Storm Sewer Plan of Improvements" Signed and Sealed on March 3, 2017. The CITY shall reimburse the DEVELOPER for 50% of the granular subbase and paving costs for this trail upon receiving a copy of the invoices for these items from the DEVELOPER. 12. The CITY shall be responsible for routine maintenance (including snow removal) and repair of the 11' wide PCC trail along Beverly Road. The City shall also be responsible for replacing 6' of PCC width of this 11' PCC trail, pedestrian ramps, and trail landings, as well as all of the granular subbase for this trail. The DEVELOPER shall be responsible for replacing 5' of PCC width of this 11' PCC trail, pedestrian ramps, and trail landings located within the Beverly Road right-of-way. 13. THAT PRIOR TO THE ISSUANCE OF THE FIRST TEMPORARY OR FINAL CERTIFICATE OF OCCUPANCY in the Heartland Heights First Addition, the DEVELOPER shall construct the three concrete mailbox pads and have the appropriate mailboxes installed for the Heartland Heights First Addition, as shown on the "Heartland Heights — 1st Addition in the City of Fairfax, Linn County, Iowa — Phase 3 Street Paving, Beverly Road Trail Paving and Storm Sewer Plan of Improvements" Signed and Sealed on March 3, 2017. 1.4. THAT PRIOR TO THF ISSUANCE OF THE BUILDING PERMITS FOR THE ELEVENTH (111ti) LOTTO BE CONSTRUCTED ON WITHIN THE HEARTLAND HEIGHTS FIRST ADDITION, OR PRIOR *TO THE ISSUANCE OF A BUILDING PERMIT ON LOT 1 OF HEARTLAND HEIGHTS FIRST ADDITION, WHICHEVER OCCURS FIRST, the DEVELOPER shall complete the following: a. Connect Lot 2, Winifred's First Addition to Linn County, Iowa to the CITY's public sanitary sewer system that is installed as part of the Heartland Heights First Addition public improvements. b. Prior to the DEVELOPER connecting Lot 2, Winifred's First Addition to Linn County, Iowa, the Owner of said Lot 2. of Winifred's First: Addition shall pay the CITY for the Sanitary Sewer Connection fee for said Lot 2, Winifred's First Addition. This Connection Fee is $4,91-7.75. c. The DEVELOPER shall remove and dispose: of off-site the portion of the existing septic system for Lot 2 of Winifred's First: Addition to Linn County, Iowa that is located on Lot 1 of Heartland Heights First Addition. 15. THAT UPON THE DEVELOPER'S SALE OF EACH INDIVIDUAL VACANT LOT WITHIN THE HEARTLAND HEIGHTS FIRST ADDITION, OR IF THE DEVELOPER DOES NOT SELL THE LOT(S), THEN PRIOR TO THE ISSUANCE OF THE PLUMBING PERMITS FOR EACH INDIVIDUAL LOT WITHIN THE HEARTLAND HEIGHTS FIRST ADDITION, the DEVELOPER shall pay the CITY the Sanitary Sewer Connection Fee per Resolution No. 2017-09, and as follows: a. The Heartland Heights First Addition is 49.24 Acres in size. b. The 2017 sanitary sewer connection fee is $1,070.31 per Acre, establishing an overall sanitary sewer connection fee (in 2017 dollars) of $52,702.06. c. The 2017 Sanitary Sewer Connection Fees per Lot shall be as follows: i. Single -Family Lots (Loi: 33 through Lot 97 all inclusive) - $425.00 per Lot ii. Multi -family Lots (Lot 2 through Lot 32 all inclusive) - $750.00 per Lot iii. Commercial Lots (Lot 1) -$1,827.06 d. These Sanitary Sewer Connection Fees shall be adjusted annually based upon the interest rates that the CITY is paying on the Phase 1 Sanitary Sewer Extension Project and on the Phase 2 Sanitary Sewer Extension Project, 16. THAT UPON THE DEVELOPER'S SALE OF EACH INDIVIDUAL VACANT LOT WITHIN THE HEARTLAND HEIGHTS FIRST ADDITION, OR IF THE DEVELOPER DOES NOT SELL THE LOT(S), THEN PRIOR TO THE ISSUANCE OF THE PLUMBING PERMITS FOR EACH INDIVIDUAL LOT WITHIN THE HEARTLAND HEIGHTS FIRST ADDITION, the DEVELOPER shall pay the CITY the Water Main Connection Fee per Resolution No. 2017-08, and as follows: a. The Heartland Heights First Addition is 49.24 Acres in size. b. The Water Main Connection Fees for 2017 shall be the same as the Water Main Connection Fees for 2016, therefore the 2017 Water Main Connection Fees shall be $34,366.07. c. The 2017 Water Main Connection Fees per Lot shall be as follows: i. Single -Family Lots (Lot 33 through Lot 97 all inclusive) - $275.00 per Lot ii. Multi -family Lots (Lot 2 through Lot 32 all inclusive) - $490.00 per Lot iii. Commercial Lots (Lot 1) - $1,301.07 d. These Water Main Connection Fees shall be adjusted annually, starting in 201.8, based upon the Consumer Price Index (CPI) established in January each calendar Year. 1.7. FOR EACH BUILDING PERMIT ISSUED in the Heartland Heights First Addition, the DEVELOPER shall owe / pay to the CITY the following Participation Costs in the future 80tt' Street Improvement Projects: a. Single -Family Lots . $1.,429.05 per Lot b. Multi -family Lots - $2,347.73 per Lot c. Commercial Lots - $5,716.20 per Lot d. These Participation Costs in the future 80t" Street Improvement Projects shall be adjusted annually based upon the annual inflation rate as determined by the Consumer Price Index (CPI) as reported in January of each year (December CPI of the previous year to the December CPI of the current year). e. The DEVELOPER shall be allowed to withhold payment to the CITY for these participation costs in the future 80t" Street Improvement Projects until the earlier of September 1, 2.021. or the sale of one-half of the Lots in the Heartland Heights subdivision, as shown on the Preliminary Plat signed by Mayor Frieden on June 6, 2016. At that time, the DEVELOPER shall pay the CITY for all Lots built on or sold since the beginning of the Heartland Heights First Addition. All other portions of Condition No. 20 of the Heartland Heights Subdivision Preliminary Plat Acceptance of Conditions, Resolution No. 2016-43 shall apply to these 80t" Street improvement participation costs by the DEVELOPER. 18. The CITY shall Provide and Install all public street signs within the public streets rights-of-way within Heartland Heights First Addition. 19. THAT PRIOR TO THE ISSUANCE OF THE FIRST TEMPORARY OR FINAL CERTIFICATE OF OCCUPANCY in the Heartland Heights First Addition, The DEVELOPER shall cause to be install the Street Lights per the "Heartland Heights —1st Addition in the City of Fairfax, Linn County, Iowa — Phase 3 Street Paving, Beverly Road Trail Paving and Storm Sewer Plan of Improvements" Signed and Sealed on March 3, 2017, and the DEVELOPER shall also provide the CITY with an acceptable verification of payment to Linn County REC for said street light installation. 20. THAT PRIOR TO THE ISSUANCE OF THE FIRST TEMPORARY OR FINAL CERTIFICATE OF OCCUPANCY in the Heartland Heights First Addition, The DEVELOPER shall cause to be installed the necessary Franchise Utilities to properly service the Heartland Heights First Addition, and the DEVELOPER shall also provide the CITY with an acceptable verification of payment to these Franchise Utilities for said utilities installation. 21. The CITY shall grant the DEVELOPER the building permits for up to, but not more than ten (10) separate Lots within the Heartland Heights First Addition prior to the CITY's acceptance of all of the proposed public improvements for the Heartland Heights First Addition. No additional building permits shall be issued within the Heartland Heights First Addition until all of the Heartland Heights First Addition public improvements are constructed and accepted by the CITY. 22. 1 -he CITY shall grant the DEVELOPER the building permits for up to, but not more than thirty (30) separate Lots within the Heartland Heights First Addition prior to the CITY's acceptance of the permanent storm water management facilities that meets or exceeds the storm water management requirements for the entire Heartland Heights First Addition per the Cedar Rapids Metropolitan Area Design Standards and Specifications. No additional building permits shall be issued within the Heartland Heights First Addition until these permanent storm water management facilities are constructed and accepted by the CITY. 23. The DEVELOPER shall only he allowed to receive building permits for Lots that have water and street improvements adjoining it that are acceptable to the CITY and the CITY's Fire Department. 24. THAT PRIOR TO THE ISSUANCE OF THE FIRST BUILDING PERMIT in the Heartland Heights First Addition, the OWNER shall record the bound documents for the final plat of Heartland Heights First Addition in the City of Fairfax, Linn County, Iowa at the Office of the Linn County Recorder. 25. THAT PRIOR TO THE CITY'S ACCEPTANCE OF THE PUBLIC IMPROVEMENTS IN HEARTLAND HEIGHTS FIRST ADDITION, the DEVELOPER and any contractor or other agent employed by the DEVELOPER shall provide the CITY with a 1 -our (4) year maintenance surety on all of the public infrastructure, including the public; streets, that are part: of the Heartland Heights First Addition improvements. 26. As a form of Assurance to the CITY to complete the public improvements as part of the Heartland Heights First Addition, the DEVELOPER has provided to the CITY a Bank Letter of Credit (LOC) from Fairfax State Savings Bank in the Amount of $1,869,418.95 to cover 120% of the DEVELOPERS engineer's opinion of costs for the unfinished public improvements within and adjacent to Heartland Heights First Addition. As the DEVELOPER satisfactorily completes the Heartland Heights First Addition public improvements, the DEVELOPER may submit requests to the CITY Council to reduce the amount of this letter of credit to align with the remaining costs necessary to complete the Heartland Heights First Addition improvements. If the DEVELOPER fails to perform its obligations to complete the Heartland Heights First Addition Public. Improvements in a timely manner, the CITY will have the automatic right to draw on this letter of credit. 27. The public improvements for Heartland Heights First Addition, and adjacent to and serving Heartland Heights First Addition shall be completed by the DEVELOPER to the satisfaction of the CITY's Engineer within one year from the date of this Agreement. Upon satisfactorily completing these public improvements, the CITY shall accept the Heartland Heights First Addition public improvements and shall release the Fairfax State Savings Bank Letter of Credit. This release instrument will indicate that the public improvements have been accepted by the CITY and will release the DEVELOPER and the Real Estate from all obligations due under this Agreement. 28. If the DEVELOPER fails to complete the Improvements within the time period as provided in this Agreement, the CITY may cause the Improvements to be constructed in all respects as the CITY shall reasonably deem appropriate. The CITY shall utilize the Fairfax State Savings Bank Letter of Credit for all costs incurred by the CITY in completing the improvements. 29. The DEVELOPER shall be responsible for all expenses related to any and all damages to the public infrastructure, and other real property, and assumes all risk of loss to the public infrastructure contemplated by this agreement until the acceptance of the public improvements by the CITY. 30. Access to Lot 1 shall be restricted to one access at Beverly Road (Lot 1 shall not have direct access to 80111 Street SW). This one access shall be a shared access with the future commercial lot immediately west of Lot 1. This access shall be centered on the west property line of Lot 1. At the time that either Lot 1. or the adjacent future commercial lot develops, the DEVELOPER shall provide an access at this location to serve both Lot 1 and the future commercial Lot located just west of Lot 1. 31. The DEVELOPER shall ensure access for Heartland Heights First Addition to 80th Street SW at all times. The DEVELOPER shall accomplish this by providing an emergency access route through Lot 1 to 801h Street SW, if or when access to 80' Street SW by Beverly Road becomes restricted. If Lot 1 is sold and/or developed on, the DEVELOPER shall do the following: a. Provide another temporary emergency access route from Heartland Heights First Addition to 80"' Street SW through another portion of the Heartland Heights Preliminary Plat; and b. Within two (2.) calendar years from the date that Lot 1 becomes unavailable for emergency access, cause the public improvements for the streets and related public infrastructure (per the approved preliminary plat) to be completed to the north to provide a permanent second access for Heartland Heights First Addition to 80th Street SW. 32. Access to Lots 2, 3, 4, 5, and 6 shall be restricted to Heartland Court. These five Lots shall not have direct access to 80th Street SW. 33. Access to Lots 2, 13, and 14 shall be restricted to Heartland Court. These three Lots shall not have direct access to Beverly Road. 34. Access to Lots 24 and 25 shall be restricted to Applewood Drive. These two Lots shall not have direct access to Beverly Road. 35. There shall be not parking along either side of 80"' Street SW, 36. There shall be not parking along either side of Beverly Road. 37. There shall be no parking within the cul -de --sac of Heartland Court. 38. There shall be no parking along either side of Heartland Court from Applewood Drive to the cul-de- sac of Heartland Court. 39. 80" Street SW, located along the east side of Heartland Heights First Addition in the City of Fairfax, Linn County, Iowa, and more particularly along the east side of Lots 1, 2, 3, 4, 5, and 6 of said Addition, is currently a two-lane rural roadway. At some time in the future, the CITY will improve 80th Street SW along the east side of these six Lots to a widened urban section. The DEVELOPER agrees to provide a signed Temporary Construction Easement Agreement to the CITY for grading of slopes to be done in conjunction with the widening / improvements of 80t" Street SW adjoining Lots 1, 2, 3, 4, 5, and 6. This temporary construction easement shall be for the purpose of grading slopes and other construction activities upon a portion of the real property of Lots 1, 2, 3, 4, 5, and 6 of Heartland Heights First Addition as deemed necessary to improve 80th Street SW. Said Temporary Construction Easement Agreement shall be provided to the DEVELOPER by the CITY at such time as the CITY deems said easement necessary. The DEVELOPER shall provide to the CITY executed Temporary Construction Easement Agreement(s) at no cost to the CITY. Within 50 feet of the east property line of these Lots (the west right-of-way line of 80t" Street SW, or Lot A), the DEVELOPER agrees to remove and replace any and all structures, fencing, landscaping, trees, shrubs, any vegetation other than standard turf grass, playground equipment, signs, or any other items that may be located within these Temporary Construction Easements at no expense to the CITY. 40. The DEVELOPER acknowledges a permanent 15' wide Vegetation Management Easement along the east side of Lots 1, 2, 3, 4, 5 and 6, parallel and adjacent to Lot A (80t" Street SW). The purpose of this Vegetation Management Easement is to allow Public Utilities the perpetual right to enter at all times upon the vegetation management easement area to cut, trim, remove, destroy and otherwise control any trees, bushes or brush now or hereafter standing or growing within the easement area. Within a reasonable time after performing any work pursuant to this easement, said public utility shall clean up the easement in accordance with best management practice for utility rights of way. There shall be a list of permissible vegetative species that are allowed within this Vegetation Management Easement: and some tree planting may be acceptable in the easement area, for more information please contact the ITC Midwest LLC Real Estate department for current standards at 319- 297-6700, 1.23 51h St SE, Cedar Rapids, IA 52401. 41. The CITY shall purchase Lot 97 from the OWNER at a price that is 75% of the selling price of the surrounding single-family residential Lots at the time of the purchase. The CITY shall purchase Lot 97 from the OWNER by December 31, 202.2. If the CITY does not purchase Lot 97 from the OWNER by December 31, 2022, the OWNER can put LOT 97 on the market for sale to anyone. 42. THAT PRIOR TO THE ISSUANCE OF A FINAL CERTIFICATE OF OCCUPANCY, the DEVELOPER shall provide for a minimum of 4" of topsoil on each Lot, Lots 1.-97 all inclusive, and Lots A and B as well. 43. The DEVELOPER agrees to indemnify and hold harmless the CITY for damages or claims for damages that may arise or accrue as a result of City Council approval of this Agreement. 44. This Agreement shall be binding upon the parties hereto and their heirs, successors, and assigns, and the sale by the DEVELOPER / owner of all or any part of said Lot 1 through Lot 97, shall transfer obligations of the DEVELOPER to the successor in interest. Dated: MwCJi ___V 12017 IOWA LOT DEVELOPMENT, LLC �r he- 0 Shane A. Schrader, Member — Manager Jam.. Bruce G. Sevig, Member— M ger STATE OF IOWA, COUNTY OF LINN) I This instrument was acknowledged before me on this day of _(�'d �1 2017 by Shane A. Schrader, Member - Manager of Iowa Lot Development, LLC and by Bruce G. Sevig, Member — Manaper of Iowa Lot DevelObment. LI -C DAVID R. STUER u r-� Commission Number 77).252 -�� - My Commission Expires ------------------ X23, %B1� Notary Public in and for the State of Iowa EXHIBIT "A" ALL OF PARCEL W OF PLAT OF SURVEY 2093 AS RECORDED IN PLAT" BOOK 9668, PAGE 634 IN THE RECORDS OF LINN COUNTY RECORDER'S OFFICE, LYING IN THE SOUTH HALF OF THE SOUTHEAST QUARTER OF SECTION 4 IN TOWNSHIP 82 NORTH, RANGE 8 WEST OF THE FIFTH PRINCIPAL MERIDIAN, FAIRFAX, IOWA; AND A PORTION OF PARCEL W OF PLAT OF SURVEY 2094 AS RECORDED IN PLAT BOOK 9668, PAGE 635 IN THE RECORDS OF LINN COUNTY RECORDER'S OFFICE LYING IN THE SOUTH HALF OF THE SOUTHWEST QUARTER OF SECTION 4, TOWNSHIP 82 NORTH, RANGE 8 WEST OF THE FIFTH PRINCIPAL MERIDIAN, FAIRFAX, IOWA, DESCRIBED AS FOLLOWS: BEGINNING AT THE SOUTHEAST CORNER OF SAID PARCEL 'A', ALSO BEING THE SOUTH QUARTER CORNER OF SAID SECTION 4; THENCE S88°10'21"W ALONG THE SOUTH LINE OF SAID PARCEL'A', A DISTANCE OF 184.65 FEET; THENCE N07°09'57"E, A DISTANCE OF 260.75 FEET TO A POINT OF CURVATURE; THENCE WESTERLY ALONG A CURVE TO THE RIGHT HAVING A RADIUS OF 170.00 FEET AND A CHORD BEARING OF N72°02159"W, AN ARC LENGTH 32.81 FEET; THENCE N00°03'37"W, A DISTANCE OF 190.74 FEET; THENCE N08°25'53"W, A DISTANCE OF 103.70 FEET; THENCE N08°37'34"W, A DISTANCE OF 102.81 FEET TO A POINT ON THE NORTH LINE OF SAID PARCEL'A; THENCE N88°12'51"E ALONG SAID NORTH LINE, A DISTANCE OF 190.21 FEET TO THE NORTHEAST CORNER OF SAID PARCEL'A; THENCE S02°03'43"E ALONG THE EAST LINE OF SAID PARCEL'A', A DISTANCE OF 664.25 FEET TO THE POINT OF BEGINNING. SAID TRACTS OF LAND CONTAIN 49.24 ACRES MORE OR LESS, AND IS SUBJECT TO EASEMENTS AND RESTRICTIONS OF RECORD.