The URL can be used to link to this page

Home My WebLink AboutPort Ludlow DA Amendment No 2576 53 PGSo:18 AMEND %ms11:1r ferson CaunEV WA Auditor's OFflce -Gonna Eldridge, Auditor WHEN RECORDED, RETURN TO: mill KIN51� JANIKL iLlIlo rt111 i115*1411W IM1l Ill Marco de Sa e Silva Davis Wright Tremaine LLP 1201 Fourth Avenue, Suite 2200 Seattle, Washington 98101 AMENDMENT NO.2 TO PORT LUDLOW DEVELOPMENT AGREEMENT Grantor: JEFFERSON COUNTY, a political subdivision of the State of Washington Grantee: PORT LUDLOW ASSOCIATES LLC, a Washington limited liability company OLYMPIC WATER AND SEWER, INC., a Washington corporation Abbreviated Legal Description: Portions of Sections 8, 9, 16, 17, 20, 21 and 29, Township 28 North, Range 1 East; Lts 48, 68, 71, 105 and 45 Area 4, Pt Ludlow No. 1; Lt 16 Area 3 Pt Ludlow No. 2; Lot 8 South Bay #2; Lt 74 Teal Lake Village; Parcels IA I Ludlow Bay Village; Lts 8-11 Ludlow Cove Div 1, Phase 2; TTs A-E Ludlow Cove Div 1, Ph 1; Lt 16 Olympic Terrace # 1; Lts 1-41 and TTs A-E Olympic Terrace Div 2, Ph 1; and tidelands fronting Ludlow Bay Village and Lt 1 Ludlow Beach TTs Complete legal description is on page Exhibit A) of document. Assessor's Property Tax Parcel Account Numbers: See Attachment No. 1 hereto. Reference to Related Document: A.F. No. 435974 (Development Agreement) A.F. No. 536369 (Corrected Amendment No. 1) DWT 22927680 0065364-000016 �.�L AMENDMENT NO. 2 TO PORT LUDLOW DEVELOPMENT AGREEMENT THIS AMENDMENT NO.2 TO PORT LUDLOW DEVELOPMENT AGREEMENT (this "Amendment") is made this l 3 V day of 4 q _ 2013, by PORT LUDLOW ASSOCIATES LLC, a Washington limited ljobility company, and OLYMPIC WATER AND SEWER, INC., a Washington corporation (collectively "PLA"), and JEFFERSON COUNTY, a political subdivision of the State of Washington (the "County"). This Amendment amends and modifies that certain Port Ludlow Development Agreement dated May 1, 2000, between Pope Resources, Olympic Property Group LLC, Olympic Resorts LLC, Olympic Water and Sewer, Inc., and Olympic Real Estate Development LLC (collectively "Pope") and the County, which was recorded in the real property records of Jefferson County, Washington, under Auditor's File No. 435974, as amended by Corrected Amendment No. 1 to Development Agreement dated and effective July 7, 2008, which was recorded in the real property records of Jefferson County, Washington, under Auditor's File No. 536369 (as amended, the "Agreement"). RECITALS A. The Agreement is a development agreement under RCW 36.70B.170 and Jefferson County Code (JCC) 18.40.850. Pope and the County made the Agreement effective May 8, 2000. PLA is the assignee and successor to Pope under the Agreement. B. The Agreement governs the development of real property owned by PLA and located in the approximately 1,200-acre fort Ludlow Master Planned Resort (MPR), which is a master planned resort designated by Jefferson County in 1998 under the authority of RCW 36.70A.362. C. Adverse economic conditions in Jefferson County and throughout the rest of the nation and the world since 2008 have significantly reduced the demand for real estate, delaying the period of time between the commencement and completion of real estate development projects. These impacts are especially severe in resort communities like the Port Ludlow MPR. The Washington State Legislature recognized this impact in 2010, when it amended RCW 58.17.140 to extend the generally applicable preliminary plat vesting period from five (5) to seven (7) years. As amended, RCW 58.17.140 currently provides in part as follows: "A final plat meeting all requirements of this chapter shall be submitted to the legislative body of the city, town, or county for approval within seven years of the date of preliminary plat approval. Nothing contained in this section shall act to prevent any city, town, or county from adopting by ordinance procedures which would allow extensions of time that may or may not contain additional or altered conditions and requirements." D. PLA and the County desire to extend the vesting period for preliminary plat approvals relating to the PLA Property, as authorized by RCW 36.70B.170(3)(i) (development standards set forth in development agreements include "[a] build -out or vesting period for applicable standards"). 2 DWT 2292768v4 0065364-000016 E. The Agreement expires May 8, 2020, twenty (20) years after its effective date. The build -out of the PLA Property currently is expected to occur over the next six (6) to twelve (12) years. PLA and the County desire to extend the term of the Agreement, as contemplated by Section 3.11 of the Agreement ("the parties acknowledge that modifications to the proposed development will occur during the build -out period in order to achieve a variety of purposes," including responding to changing market needs), and as authorized by RCW 36.70B.I70(3)(i). F. This Amendment was the subject of a fifteen (15) day comment period, which ran from 71 ,, 10 , 2013, to --9& ,t4 2013. As required by RCW 36.70B.200, a pubic hearing was held before the Jefferson County Board of County Commissioners on _� , 2013. The Board of County Commissioners reviewed and took official action adopting this Amendment by ordinance/resolution # on 2013. 61 NOW, THEREFORE, in consideration of the mutual covenants, conditions, and agreements of the parties, it is agreed by and between the parties that the Agreement shall be amended and modified as follows: AGREEMENT 1. Defined Terms. The following terms used in this Amendment shall have the following meanings: "PLA Property" means the real property legally described on Exhibit A attached hereto, which comprises those portions of the Pope Property that are owned of record by PLA and located within the Port Ludlow MPR as of the effective date of this Amendment. All references in the Agreement to "Pope Property" shall mean "PLA Property." 2. Preliminary Plat Vesting Period. Each preliminary plat approval relating to any portion of the PLA Property, including without limitation the Preliminary Plat of Olympic Terrace Division II, Jefferson County File No. SUB05-00003, and the Preliminary Plat of Ludlow Cove Division Il, Jefferson County File No. SUB07-00038, shall expire ten (10) years after the date of approval, subject to potential extensions as provided in the applicable subdivision regulations. A final plat meeting all requirements of the applicable development standards shall be submitted to the Board of County Commissioners for approval within ten (10) years after the date of preliminary plat approval unless such period is extended as provided in the applicable subdivision regulations. This period of time shall apply even if it expires after the term of the Agreement. 3. Term of Agreement. The term of the Agreement shall be extended five (5) years and shall expire May 8, 2025. 4. Effect of Amendment. This Amendment amends and modifies the Agreement and shall be effective as of the date of mutual execution and delivery hereof. In the event of any conflict between the Agreement and this Amendment, this Amendment shall control. Capitalized terms not otherwise defined herein shall have the meanings given them under the Agreement. Except as contained within the Agreement and this Amendment, there are no other agreements or understandings between PLA and the County relating to the subject matter of the -Agreement and this Amendment. The Agreement is hereby confirmed and ratified. DWT 2292768v4 0065364-000016 IN WITNESS WHEREOF, the parties hereto have mutually have executed and delivered this Amendment. APPROVED AS TO FORM: Prosecuting Attorney - C�' � �- Director Department of Community Development 0 JEFFERSON COUNTY Jefferson County Board of County Commissioners ��1v :, PORT LUDLOW ASSOCIATES LLC, a Washington limited liability company By a Gr Its President OLYMPIC WATER AND SEWER, INC. By L,,A4�' Its President DWT 22927680 0065364-000016 EXHIBITS: A - Legal Description of PLA Property STATE OF WASHINGTON ) ss. COUNTY OF JEFFERSON ) On this _4,�_tay of t'k 2013, before me, a Notary Public in and for the State of Washington, personally app -ed "5,,,-fa.-4 ,, personally known to me (or proved to me on the basis of satisfactory evidence) to be the person who executed this instrument, on oath stated that he or she was authorized to execute the instrument, and acknowledged it as the ; dCr'-� T Port Ludlow Associates LLC, to be the free and voluntary act and deed of said limited liability company for the uses and purposes mentioned in the instrument. �Wl9llpQlW WHEREOF, I have hereunto set my hand and official seal the day and year first ,01ARY NOTARY PUBLIC m and for th State o Washington, ;ram (P p � 9'.%G 0 residing at cyi�a-r f - - 9 AZ F My appointment expires 6 ^/ fig 0'p WP,-5 �� Print Name STATE OF WASHINGTON ) ) ss. COUNTY OF JEFFERSON ) On this � dday of _JYl �� , 2013, before me, a Notary Public in and for the State of Washington, personally appeared �k- Sys �� , personally known to me (or proved to me on the basis of satisfactory evidence) to be the person who executed this instrument, on oath stated that he or she was authorized to execute the instrument, and acknowledged it as the of Olympic Water and Sewer, Inc., to be the free and voluntary act and deed of said corporation for the uses and purposes mentioned in the instrument. IN OF, I have hereunto set my hand and official seal the day and year first abovvfen :L N 6 TA AY EXP.09/O O14 : � � L �'�— L I� � LIC' J N-�'• pt+I3t %C' Z. NOTARY PUTALIC in and for the State o ashington •�rt�,aR WA5H%a�t residing at D << ruts c III////rI IlI100 5 DWT 2292768v4 0065364-000016 My appointment expires a `% /'/'W Print Name ► i r2 �� k-r�'� �+-� STATE OF WASHINGTON ) ) ss. COUNTY OF JEFFERSON ) � 3 On this t2 may of , 20 1, before me, a Notary Public in and for the State of Washington, personally app ed ne bx-yi ct l fy &,,— , and --74i o f�d,4 saves , personally known to me (or proved to me on the basis of satisfactory evidence) to be the persons who executed this instrument, on oath stated that they were authorized to execute the instrument, and acknowledged it as the three members of the Jefferson County Board of County Commissioners to be the free and voluntary act and deed of said Board, acting in their official capacity representing Jefferson County, Washington, for the uses and purposes mentioned in the instrument. IN WITNESS WHEREOF, I have hereunto set my hand and official seal the day and year first above written. I�Z�Z ••' � ,�'��tttfrrrl��i } • , �,�'wMDGR'�. NOT RY PUBLIC in and for the St to of shington, 4'' �DTAgy residing at �r _ �aaroea14 — My appointment expires D tl r — z = Print Name _f-r'6•t Nam'•, ��9�►C:�tid ��O WArs�\\�� III DWT 2292768A 0065364-000016