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AG 96-194 CITY OF FEDERAL WAY LAW DEPARTMENT CONTRACT PREPARATION/DoCUMENT REVIEW/SIGNATURE ROUTING SLIP 1. ORIGINATING DEPT./DIV.: ?Uð'-IC UO(LIC-~ / Dé-V &~ V ¡¿QN G/fiU(9<-J EXT'. l..ifJ 7 3. - ~ DATE REQ. By: ~ J?¡J ", . I 2. ORIGINATING STAF"F" PERSON: 4. TYPE OF" DOCUMENT REQUESTED (CHECK ONE): 0 PRDF"ESS'ONAL SERVICES AGREEMENT 0 MAINTENANCE/LASOR AGREEMENT 0 PUSL'C WORKS CONTRACT 0 SMALL PUBLIC WORKB CONTRACT ILn. THAH OZ',DDD' ¿;CU~TY DOCUMENT Ic.G., G.CCHCHT'" PC."MA'H BDHD} A"'GHHCHT "' 'UHD. 'H LIEU D' BDHD' 0 CONTRACTOR SELECTION DOCUMENT «,G.. R'B, R'P, R'.' 0 PURCHABE AGREEMENT IMAT<."~, Bu..un, E.U'..C.TO 0 CONTRACT AMENOMENT 0 EABEMENT 0 OTHER AG#, 0 REAL ESTATE PURCHABE & SALES AGREEMENT 5. PROJECT NAME' Trftc (¡JOO;:Jn¡ ,L¡<.. /IT S TC-c-'-L LÆ-t(J: 6. NAME OF' CONTRACTOR: ADDRESS: PHONE: TYPE OF" PERSON DR ENTITY tCHECK ONE)' 0 INDIVIOUAL 0 PARTNERBHIP 0 SOLE PRDPRIETORSHIP STATE' 0 CORPORATION TAX lO#/SS#, SIGNATURE NAME: TITLE: 7, SCOPE OF' WORK: ATTACH EXHISIT A - A COMPLETE ANO OETAILED DESCRIPTION OF" THE SERVICES DR SCOPE OF" WORK, INCLUDING COMPLETION DATES FOR EACH PHASE OF" WORK ANO LOCATION OF" WORK. B. TERM: COMMENCEMENT DATE' COMPLETION DATE: 9, TOTAL COMPENSATION: $ !INCLUDES EXPENSES AND SALES TAX, IF" ANY) ". GALCU~T<D DH HDU.LT ~'D. OHA..C . ATOAOH 'CHCDULn D' C..LDTCn mm AHC HDU.LY _Tn' REIMBURSABLE EXPENSES: 0 VES ONo IF" YES, MAXIMUM DOLLAR AMOUNT: $ Is SALES TAX OWED? 0 VES 0 No IF" YES, $ 0 CONTRACTOR OCITY 1 D. SELECTION PROCESS USED tCHECK'ONE)' 0 RE"UEST 'DR S'DS 0 RE"UEST FOR PROPOSALS 0 RE"UEBT FOR QUDTES 0 RE"UEST FOR QUALIFICATIONS 0 ARCHITECT & ENG'NEER LIST 0 SMALL WORKS ROSTER 1 1. CONTRACT REVIEW INITIAo./DATE APPROVED 0 O'RECTDR ~AW IALL CONTRACTS) d~( (, hi / 'i ç. . 0 R'SK MANAGEMENT <ALL CD.T_CTO CXCC.T A.CH..CHTO, .D.T_.TD. .CLCCTODH DDCU.CHT' 0 PURCHASING l J {;>1 ð\ 9 \0 12. CONTRACT SIGNATURE RO TI G if~ DEPARTMENT (Y1'iiTY MANAGER ~TY CLERK ; :~GS7::E:O:: B:qÇ'- /ëfLfATlN1 rtïq~ 0 PURCHASING' PLEASE CHARGE TO'- --'-- LD492 'Rev.,.., COMMENTS -Ac; qlp-ICfLf Applicant: The Woodmark at Steel Lake, L.L.C. Project: The Woodmark At Steel lake Property Address: 31200 23rd Ave S Federal Way, WA 98003 Permit#: BlD96-0 103 Security Amount: $622.422.00 Cash Deposit Amount: $ 15,560.00 CITY OF FEDERAL WAY AGREEMENT AND PERFORMANCE/MAINTENANCE SECURITY AGREEMENT THIS AGREEMENT ("Agreement") is dated effective this 20th day of June, 1996. The parties ("Parties") to this Agreement are the City of Federal Way, a Washington municipal corporation ("City") and The Woodmark at Steel Lake, L.L.C., a Washington limited liability company ("Applicant'? .. ... A. The Applicant is required to perform certain work and/or complete certain improvements, including construction of on-site and off-site improvements associated with permit number BlD95-0982. Improvements include street widening of South 312th Street along the frontage of the site (curb, gutter, sidewalk, landscape strip, pavement widening, storm drainage facilities, utility under grounding, etc) and on-site grading, drainage facilities, paving, sidewalks, curbs, and erosion control systems at the above referenced address located in Federal Way, Washington in connection with Applicant's land Use Application under the above-referenced permit number ("Permit"); B. The improvements will be constructed or the work performed in accordance with record drawings and approved plans on file with the City ("Plans"); C. The City has determined that the Applicant must post security with the City pursuant to Sections 22-146 through 22-159 of the Federal Way City Code ("FWCC") as now existing or hereafter adopted or amended, to guarantee Applicant's performance of the required construction of improvements or performance of work, maintenance or repair in accordance with the Plans as a condition of granting the Permit. NOW, THEREFORE, the Parties agree as follows: 1 . Imorovements. Applicant shall construct all improvements and perform all maintenance pursuant to the Plans, to the City's satisfaction ("Work"). The obligation to maintain the improvements shall continue for a period of two (2) years after issuance of the certificate of occupancy or final inspection, or such longer period as required by the FWCC or other applicable law, rule or regulation. 2. ComDletion of Work. The Applicant shall complete the Work to the City's satisfaction, within the time period prescribed by the City, and in full compliance with the Plans, including any approved amendments thereto, and in conformance with all applicable laws, rules or regulations. 3. Performance/Maintenance Securitv Aareement. Applicant shall deliver the fully executed Performance/ Maintenance Security Agreement to the City in the form attached hereto as Exhibit "A" and incorporated by this reference ("Security Agreement"), to guarantee Applicant's performance of the construction of the improvements and/or maintenance of the improvements pursuant to the Plans. 4. Release of Security. The sum held by the surety will be reduced from time to time to allow progressive payments to the Applicant as construction is completed in conformity with the City nDIr-'~"/\.I- construction standards and specifications; provided, however, in no event shall the sum released by the surety be more than 70 percent (70%) of the estimated cost of the specific component of the project's improvements until the termination of the two (2) year maintenance period. No funds shall be released without first obtaining the written approval of the City's Community Development Director. The amount to be retained by the surety for completion of said construction shall be determined by the City's Community Development Director. 5. Riaht ta ComDlete Work. In the event the Applicant fails to perform the work, the City may, but in no event is it obligated to, request the disbursement of sums held by the surety and perform any of the necessary work. Upon demand, Applicant agrees to pay the City an amount equal to all of the City's costs and expense in performing such work in excess of the amount held by the surety. 6. Notice. The Community Development Department of the City shall be given forty-eight (48) hours notice prior to the commencement of the Work. 7. Indemnification. Applicant agrees to indemnify and hold the City, its elected officials, officers, employees, agents, and volunteers harmless from any and all claims, demands, losses, actions and liabilities (including costs and attorney fees) arising from, resulting, or connected with this Agreement and the Security Agreement, including without limitation, the City's performance of the Work pursuant to Section 5 herein. 8. Administrative Cash DeDosit. In addition to the amount set forth in the Maintenance Security Agreement, Applicant agrees to pay a cash deposit to the City pursuant to Section 22-151 of the FWCC, upon the execution of this Agreement equal to the following percentages of the amount of the Security Agreement: Amount of Securitv Aareement Amount of Cash DeDosit Up to $20,000 $20,001 - $50,000 $50,001 - $100,000 $100,001 and up 5% of Security Agreement (minimum $100) 4% of Security Agreement 3% of Security Agreement 2-1/2% of Security Agreement The cash deposit may be used by the City to cover its actual expenses in administering this Agreement and, if necessary, collecting and using the proceeds from the Security Agreement. 9. Remedies Cumulative. No remedy provided for by this Agreement shall be deemed exclusive, but shall be deemed cumulative and in addition to every other remedy available to the City at law, in equity or by statute. Applicant's liability under this Agreement is not limited to the amount of the Security Agreement. 10. License. Applicant shall record a license in the form attached hereto as Exhibit "8" and incorporated herein by this reference with the King County Department of Records, immediately upon the execution of this Agreement and at Applicant's cost. 11 . General Provisions. This Agreement may not be amended except by written agreement signed by the Parties. Any provision of this Agreement which is declared invalid, shall not invalidate the remaining provisions of this Agreement. The failure or delay of the City to declare any breach or default shall not waive such breach or default. This Agreement may not be assigned by any Party without the -2- written consent of the other f-arty. This Agreement shall be binding ufJon and insure to the benefit of the Parties' successors in interest. Time is of the essence. )?}ST Cldd:~è<.- City Clerk, N. Christine Green, CMC APPROVED AS TO FORM: ¡4Nt (ì ~- II, City Attorney The Wood mark at Steel Lake, L.L.C., a Washington' . b'lity company By; Its: M'lnRgine: M"mh"r 1800 - 116th Avenue N.E. #202 Bellevue, Washington 98004 (206) 455-1440 CITY OF FEDERAL WAY By: -3- EXHIBIT A Proiect: The Woodmark At Steel Lake Permit #: BLD96-0103 CITY OF FEDERAL WAY PERFORMANCE/MAINTENANCE SECURITY AGREEMENT KNOW ALL PEOPLE BY THESE PRESENTS: We, the undersigned, T~èVoodmark at Steel Lak!à~'~rfncipal ("Principal"), and Intervest Mortgage Investment Co., the undersigned corporation organized and existing under the laws of the State of Washington, and legally doing business in the State of Washington as a surety ("Surety"). are held and firmly bound unto the City of Federal Way, a Washington municipal corporation ("City") in the penal sum of Six hundred twenty two thousand four hundred twenty two and no/100 Dollars ($622.422.00) for the payment of which they firmly bind themselves and their legal representatives, successors and assigns, jointly and severally. This obligation is entered into in pursuant to the statutes of the State of Washington and the ordinances, regulations, standards and policies of the City, as now existing or hereafter amended or adopted. The Principal has entered into an Agreement with the City of even date for the construction of on-site and off-site improvements associated with permit number BLD95-0982. Improvements include street widening of South 312th Street along the frontage of the site (curb, gutter, sidewalk, landscape strip, pavement widening, storm drainage facilities, utility under grounding, etc) and on-site grading, drainage facilities, paving, sidewalks, curbs, and erosion control systems. NOW, THEREFORE, if the Principal shall perform all the provisions of the Agreement in the manner and within the time period prescribed by the City, or within such extensions of time as may be granted under the Agreement, and shall pay all laborers, mechanics, subcontractors and material men or women, and all persons who shall supply the Principal or subcontractors with provisions and supplies for the carrying on of said work, and shall hold the City, their officials, agents, employees and volunteers harmless from any loss or damage occasioned to any person or property by reason of any carelessness or negligence on the part of the Principal, or any subcontractor in the performance of said work, and shall indemnify and hold the City harmless from any damage or expense by reason of failure of performance as specified in the Agreement, or from defects appearing or developing in the material or workmanship provided or performed under the Agreement within a period of two (2) years after its final acceptance thereof by the City, then and in the event this obligation shall be void; but otherwise, it shall be and remain in full force and effect. And the Surety, for value received, hereby further stipulates and agrees that no change, extension of time, alteration or addition to the terms of the Agreement or to the work to be performed thereunder or the specifications accompanying the same shall in any way affect its obligation on this Security Agreement, and it does hereby waive notice of any change, extension of time, alterations or additions to the terms of the Agreement or to the Work. The Surety hereby agrees that modifications and changes may be made in the terms and provisions of the Agreement without notice to Surety, and any such modifications or changes increasing the total amount to be paid the Principal shall automatically increase the obligation of the Surety on this Security Agreement in a like amount, such increase, however, not to exceed twenty-five percent (25%) of the original amount of this Security Agreement without the consent of the Surety. Within forty-five (45) days of receiving notice that the Principal has defaulted on all or part of the terms of its Agreement, the Surety shall make a written commitment to the City that it will either: (a) cure the default itself within a reasonable time period, or (b) tender to the City, the amount necessary for the City to remedy the default, including legal fees incurred by the City, or (c) in the event that Surety's evaluation of the dispute is not complete or in the event the Surety disputes the City's claim of default, the Surety shall notify the City of its finding and its intent, if any, to interplead. The Surety shall then fulfill its obligations under this Security Agreement, according to the option it has elected. Should Surety elect option (a) to cure the default, the penal sum of the Security Agreement shall be reduced in an amount equal to the costs actually incurred by the Surety in curing the default. If the Surety elects option (b), then upon completion of the necessary work, the City shall notify the Surety of its actual costs. The City shall return, without interest, any overpayment made by the Surety and the Surety shall pay to the City any actual costs which exceed the City estimate, limited to the security amount. Should the Surety elect option (c), the Parties shall first complete participation in mediation, described in the below paragraph, prior to any interplead action. In the event a dispute should arise between the Parties to this Security Agreement with respect to the City's declaration of default by the Principal, the Parties agree to participate in at least four hours of mediation in accordance with the mediation procedures of United States Arbitration and Mediation ("USA&M"). The Parties shall proportionately share in the cost of the mediation. The mediation shall be administered by the Seattle USA&M office, 4300 Two Union Square, 601 Union Street, Seattle, Washington 98101-2327. The Surety shall not interplead prior to completion of the mediation. DATED this ~ day of :JWilt , 199~. CORPORATE SEAL OF PRINCIPAL: THE WOOD MARK AT STEEL LAKE, L.L.C. ~ By: ! .f'...-.- Name 0 rson Executing Sëëü'mÿ~greement Its: J. Herb Gilbo, Managing Member (Title) 1800 - H6th Avenue N.E. #202 Bellevue, Washington 98004 (206) 455-1440 -2- CORPORATE SEAL OF $UI'I!'I'Y: INTERveST MORTGAGE INVESTMENT CO. ~7~ ts . Name of P"SQn Executing SecurIty Agreement - 10900 JIll) 3th Street ~15Z4 3ellevue, WA 98004 ' AddrS88 (~O6) 635-7667 . Phone APPROVED AS 1'0 FORM: CERTIFICATE A~ TO CORPOAA.!.E..aEAl I hereby Càrtify that I 8m the ~ Secretary of the CorøOfstiDf1 named It IIrlnctpsl In the wlthltl Security Ag(etmlnr, that Jeffrey Coats. who ,¡¡ned the said Security Agreement on behalf of the PrincipiI, WIS Vice President of the said Corporation; that I knQW hI, or "Ir .Ignatute themo I. genuIne. end that s8Íc,i Security Air.ament Will) duly signed. sa.led. end attested for and In beh,lf of saId Cotparatlon by lIuthCll'lty of its governing body. ~'N'\~ Secretary .RAMlåalCi.~- """'-,8010 """. 7-Q7.n -3. Clear and grub Excavation Paving Curb and Gutter Extruded curb Sidewalks 6. Pipe 8" Pipe 12" Pipe Curb inlet Catch Basins Restrictor Ri¡¡Ra¡¡ Retaininl! Walls Disoersion Trench Trash Rack Bioswale Detention Vault Street Lights Erosion Control I I i 1 1 I I I I 1 ¡ The Woodmark at Steel Lake cash set aside draw schedule Road DJ11W Date On-site 1 Draw Date ¡ 239891 8/1/961 2086 1 1 ! 4330 ! 3600 I ¡ I 5400' 24751 1 1000 21S0! 450; I I I 510 ! I 180001 : , I 400011 bonddraw.xls 9/1/96 9/1/96 ¡ 9/1/961 I 1 1 lO/l/9~ 911/96 ! 1 9/1/961 I 911/96 ! 1 9/1/96 911/96 2/1/971 187887 41220' 5980, 31842 ! 277501 56001 16125 10900 900! 1 2381 1 158691 I 1000 200 6000 40000 , I I i 131851 428685 ! 8/1/96 ' 3/1197, 3/1/97 2/1/971 I 9/1/961 9/1/96 9/1/96 9/1/96 9/1/96 9/1/96 9/1/96 8/1/96 911196 9/1/96, 9/1/96 , 9/1/96 8/1/96 6/28/96 468686 -"- --,o'-._~~-".,~_c ..~--~-"" THE WOODMARK AT STEEL LAKE LLC 3927 LAKE WASHINGTON BLVD. NE KIRKLAND, WA 98033 1114 I' PAY TO THE ORDER OF JUNU.L._19~J> ""/1"0 CITY OF FEDERAL WAY 1$22,205.82 Twen~y-two thousand two hundred five and 82/100----------~~~õÕ-CLÃRsro~. OO.SEAFIRST BAJ:ið Hoo,""" .""oh """ P.O. Box '" """no. WA "083 II'OO~~U.II' 1:~25000021,1: ~~_._~ " ~ ' 0 FOR f :1- 7b8!;8 ~O811' -~o~ . ---- .- THE WOODMARK AT STEEL LAKE LLC . 3927 LAKE WASHINGTON BLVD. NE KIRKLAND, WA 98033 1113 'I JUNE 27 R S ro=.= PAY TO THE ORDER OF ~ § ! I ! I CITY OF FEDERAL WAY Fif~een thousand five hundred sixty and 00/100- - OO.SEAFIRST&4Nð Hoo,""" .,,"'" """ P.O. Bo. 591 ""'ono, WA9B'83 / FOR- I' lI'OO~~~jll' 1:~25000021,1: 7b8!;8 ç ! '