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Resolution No. 7-88RED fit)" E Recorded at the request of and return to: Park City Municipal Corp. P. O. Box 1480, Park City, UT 84060 g� JUL ((t AM �Q: � 2�° Pee Exempt per Utah Code Annotated 1953 21•7•2 A APB SPFiIGG$ SUMmi Cotit,17Y P=ECQROER RESOLUTION -� q� RE-C*D BY�_��.� Resolution No. 7— v�� A RESOLUTION ANNEXING LAND OF THE SMITH RANCH SUBDIVISION INTO THE CORPORATE LIMITS OF PARK CITY, UTAH WHEREAS, a petition was filed by the owners of the land included within the area described on the attached Annexation Plat, requesting the City to annex that land to the City, zoned as Recreation Open Space (ROS) and Single Family (SF); and WHEREAS, the land is included within the City's Annexation Policy Declaration Statement and Annexation Boundary area; and WHEREAS, public hearings, as required by law, were held before the Planning Commission and the City Council, at which hearings an Annexation Agreement and Supplemental Annexation Policy Declaration was approved in the form attached hereto as Attachment A; and WHEREAS, the land in question is not included within any other jurisdiction, and there have been no protests to the annexation filed by any other jurisdiction; NOW, THEREFORE, BE IT RESOLVED by the City Council of Park City, Utah, that the following described land be, and is hereby annexed to the corporate limits of Park City: Beginning at the Southwest corner of Section 5, Township 2 South, Range 4 East, Salt Lake Base and Meridian; and running thence North 89°10'33" West 2629.51 feet along the south line of Section 6 to the south quarter corner of section 6; thence North 0°55'12" West 2677.36 feet along the center line of Section 6; thence South 89°29'22" East 2662.65 feet along the center line of Section 6 to the west quarter corner of Section 5; thence North 89°56'58" East 2639.98 feet along the center line of Section 5; thence South 0'01'22" West 1929.52 feet along the center line of Section 5; thence West 510.84 feet to the east line of Iron Canyon Subdivision; thence North 22.26 feet to the north line of Iron Canyon Subdivision; thence North 88°50'22" West 1350.28 feet along the north line of Iron Canyon Subdivision (boundary line agreement); thence South 89°19'58" West 395.03 feet along the north line of Iron Canyon Subdivision; thence South 88°50'23" West 376.65 feet along the north line of Iron Canyon Subdivision to the west line of Section 5; thence South 0°12'22" East 801.29 feet along the west line of Section 5 to the point of beginning. Contains 277.82 acres. EXCEPTING THEREFROM THE FOLLOWING TRACT: Commecning at the northeast corner of the southwest quarter of Section 5, Township 2 South, Range 4 East, Salt Lake Base and Meridian; running thence West 1 chain; thence South 22000100" East 3.43 chains; thence North 5°00'00" West 3.2 chains to the place of beginning. The land so annexed shall be entitled to receive all City services on the same basis as other land within the City, and shall be subject to all City levies and assessments on the same basis as other land within the City, subject to the terms of the Annexation Agreement and Supplemental Policy Declaration attached hereto as Attachment A. This Resolution shall take effect upon passage, provided that the annexation shall not be deemed completed until this Resolution is recorded in the office of the Summit County Recorder, together with the Annexation Plat. DATED this LJ-.tL day of May, 1988. PARK CI Y M f Attest: Anit' a L. Uo etti City Recorder r, ION eoo�' 48411111("TA1 STATE OF UTAH ) ss COUNTY OF SUMMIT ) On the S"' day of May, 1988, personally appeared before me, Hal W. Taylor and Anita L. Coletti, who being duly sworn did say, each for themselves, that he, the said Hal W. Taylor is the Mayor, and she, the said Anita L. Coletti is the City Recorder of Park City Municipal Corporation, and that the within and foregoing instrument was signed in behalf of said corporation by authority of a resolution of its City Council and they duly acknowledged to me that said corporation executed the same and t the seal alfFxe o is the seal of s "d corpor ti n. My (.NOTrY PUBLIC �Corm!^=iun S: Boo.. 4 4;,!a 42 Attachment "A" ANNEXATION AGREEMENT And Supplemental Annexation Policy Declaration THIS AGREEMENT is made by and between Park City Municipal Corporation ("Park City") and Equity Properties It Corp., a Utah corporation, ("Equity)" or its assigns, to set forth the terms and conditions under which Park City will annex land owned by Equity into the corporate limits of Park City, and extend municipal services to that property. This Agreement is made under authority of Utah Code Annotated § 10-21-414, (1953, as amended) and shall serve as part of a supplemental annexation policy declaration when executed by all parties. In consideration of Park City's agreement to annex Equity's property and in consideration of the mutual promises contained herein, the parties agree that the terms and conditions of annexation shall be as follows: 1. Property. The property to be annexed is described 'v on the attached Exhibit A, and is commonly known as the Smith Ranch property. 2. Zoning. Upon annexation, the property will become subject to the Park City Land Management Code, Subdivision Regulations and Park City's other building regulations. The property will be zoned in three areas as shown on the annexation plat for the property, which is incorporated into this agreement as Exhibit B. The open meadow area adjoining Highway 224 will be zoned RECREATION OPEN SPACE (ROS). The developed area will be zoned SINGLE FAMILY (SF). The Boo, 4841',;co443 hillside area outside of the developed lots will be zoned RECREATION OPEN SPACE (ROS). 3. Uses and Maintenance of Meadow Area. It is the intent of the parties hereto that the appearance of the meadow area remain, to the extent reasonably possible, as it now exists. To that end the parties agree that the i ownership and uses of the meadow area be controlled as specified herein. The ROS-zoned meadow area shown on the Annexation Plat and Zoning Map Addition that adjoins Highway 224 will be left undeveloped. Equity will have the right to lease or sell the meadow to no more than four separate third parties, subject to the ROS zoning, and restrictive covenants that will preserve the agricultural use and appearance of the property. The responsibility and authority to maintain the meadow area shall rest with a single entity, whether a partnership, corporation or association in order to ensure uniform care for and maintenance of the meadow area. The nature and membership of the responsible entity, its relationship to the owner or owners of the meadow area and the means by which it will discharge its responsibilities will be specifically set forth in the restrictive covenants governing the meadow area. Agricultural uses, including the raising of pasturage or other crops, will be allowed within the meadow area. Raising and grazing of horses, allowed in the ROS zone, will be limited to a total of 12 horses in the entire meadow area. Raising and grazing of animals other than horses is a BOO!, 4.44 Smith2/AGREE4 Page 2 of 10 Pages conditional use in the ROS zone and is therefore subject to Planning Commission approval. The meadow area will be fenced on the perimeter, and cross fencing will be permitted to the extent necessary to manage grazing and protect growing crops. Perimeter fencing materials may be either wire or some decorative fencing that is not a solid visual ,'L barrier, and cross fencing shall be wire fencing. The restrictive covenants affecting the meadow area shall provide that the meadow area will be maintained so as to achieve the following results: (a) maintenance of generally uniform and consistent appearance among the parcels, notwithstanding independent ownership and control of the parcels within the meadow. (b) consistent levels of maintenance of the meadow parcels to the extent possible given natural variations of slope, soils, climatic and water conditions. (c) prevention of over grazing of meadow vegetation. (d) allow reforestation of the meadow area. 4. Scenic Easement. Park City will cooperate with the efforts of Equity to make a dedication of a scenic easement or open space preservation easement affecting the meadow area to an appropriate non-profit organization, constituted to acquire and hold such easements. The dedication will be intended to permit Equity to receive whatever tax benefits may be possible from that dedication. The dedication is not BOV, 484p,-,u445 Smith2/AGREE4 Page 3 of 10 Pages being required by Park City, but, if made, will be made by Equity on its own volition. 5. Park Development Fees. Park City will waive its Parks and Recreation fees in the amount of $129,375, in consideration of the preservation of the meadow area in open space. 6. Planning Review Fees. Equity has previously paid Park City the sum of $9,000.00 as a planning review fee. Park City agrees that the $9,000.00 already paid will be treated as payment in full of the planning review fees for the project, and that no further planning fees will be assessed. 7. Engineering Inspection Fees. Equity's projects will involve the construction and extension of public improvements including roads, sanitary and storm sewers, and water lines to serve the project. Equity shall pay Park City a fee equal to 2.5% of the value of the construction of those improvements to compensate Park City for its time and effort in reviewing designs and inspection of construction of those improvements, consistent with current Park City policy. The fee will be paid at the time the notice to proceed is issued. If additional inspection costs are incurred, Equity will pay the actual costs of inspection in excess of 2.5% at the time the inspection services are rendered, but in no event more than 6% of the improvement value. This arrangement on engineering fees will extend for three years from the date of subdivision plat approval on Smith2/AGREE4 boot. 484!,---r 4U Page 4 of 10 Pages l'L each phase. After three years, all required inspection services shall be paid for by Equity pursuant to Park City ordinance. The decisions as to which services are required shall be Park City's. 8. Road Design. Park City agrees to consider road designs submitted by registered engineers on Equity's behalf, and agrees that roads within the project will be required to meet Park City standards for residential streets, including adequate provision for construction traffic. 9. Water Connection Fees. As each building permit is obtained for individual houses within the subdivision built on the Annexed Land, the owner will pay Park City the water connection fee required pursuant to Park City ordinance. 10. Impact and Building Fees. All impact, building permit, and plan check fees due for construction within the annexed land shall be collected as provided by Park City ordinance. 11. Master Plan Approval. The Park City Planning Commission approved a Master Plan approval for the Smith Ranch property for 116 single family lots on April 13, 1988. A revised Master Plan, calling for 121 single family lots, and four ranch lots is scheduled for Planning Commission review at the regularly scheduled meeting of May 11, 1988. If the Master Plan is not approved, or if it is approved subject to conditions unacceptable to Equity, Equity may withdraw its Annexation Petition within ten days of Planning 800. 484i'-,cEA47 t" Smith2/AGREE4 Page 5 of 10 Pages Commission action, or appeal the decision to the City Council. 12. Acceptance of Public Improvements. Park City will accept title to the public improvements within each phase of the project upon final approval of the construction for each phase. Park City will not, however, take over snow removal responsibility within any phase until at least 50% of the lots within that phase have been improved by the construction of a house on those lots. Until that occurs, snow removal will be Equity's responsibility, or that of the homeowners' association. Equity will pay for the usage of water in each phase sufficient, in the opinion of the Park City Public Works Director, to avoid freezing until homes have been built on 50% of the lots in that phase. 13. Future Rights -of -Way. The subdivision plats for the project shall show two rights -of -way, fifty feet in width which shall connect the dedicated roads within the annexed land to the Smith Ranch property boundary at two points. The rights -of -way must be mapped but need not be dedicated to Park City unless and until the owners of the properties adjacent to the Smith Ranch annex their properties to Park City. The two rights -of -way are independent of each other and either may be dedicated to Park City without the other. 14. Dedication of Water Rights. In satisfaction of Equity's obligation to dedicate water rights sufficient to Boos 4I,!,, Smith2/AGREE4 8� 4 8 Page 6 of 10 Pages 'a meet the normally anticipated needs of the development to Park City, the parties agree as follows: (a) Equity will dedicate to Park City a sufficient portion of its right, title and interest in and to Weber River Decrees #450 and/or #437 and/or Diligence Claim #1709 to authorize the diversion and use by Park a City of 125 acre-feet per year for municipal uses. (b) Equity shall undertake the burden and expense of converting the dedicated water rights to year-round municipal uses, and in changing the points of diversion of those rights to the City's diversion point at the Park Meadows Well. Equity shall be responsible for the administrative and legal expenses incurred in making such changes, except that Equity shall not be responsible for defending title to Park City's water rights or for representing or defending Park City's position with regard to current or future water replacement obligations. To the best of Park City's knowledge and belief, there remains at least an additional 125 acre-feet of production capacity in the Park Meadows Well. (c) Any applications will be filed jointly in the names of Park City and Equity. Park City agrees to appear at all hearings and to cooperate fully in the effort to convert as high a percentage of the water to municipal use as possible. Park City will make 484,t,,;cF449 Smith2/AGREE4 Page 7 of 10 Pages available engineering data it has on the Park Meadows Well which may be relevant to this application. (d) Upon completion of the conversion and expiration of any appeal periods from the State Engineer's or a court's decisions, Park City will accept the dedication in full satisfaction of the water development fees it would otherwise collect from the owners of lots within the annexed area at the time of issuance of building permits. (e) During the pendency of the conversion proceedings, Park City will collect from Equity or the individual property owners, the water development fees required by ordinance at the time individual building permits are issued. The fees so collected will be held in escrow by an entity mutually agreed upon by the parties. Upon successful conversion of the dedicated water rights and expiration of applicable appeal periods, the Escrow shall pay over to Equity, or the individual property owners who paid development fees, the escrowed funds together with accrued interest, and Equity shall convey the converted dedicated water rights to Park City. In the event the conversion and expiration of applicable appeal periods from actions of the State Engineer are not complete by June 1, 1990, the escrowed funds, with accrued interest, shall be paid over to Park City and Park City shall continue to collect water development fees pursuant to ordinance Smith2/AGREE4 B00:. 44P;f,CLii® Equity will then be Page 8 of 10 Pages released from its obligation to convey the dedicated water rights. In the event of a judicial appeal, the escrow period will be extended during the pendency of the appeal. Judicial appeals will be pursued diligently and concluded or dismissed as provided by statute. 14. (f) Equity will retain ownership of all water rights not converted for the irrigation of land within the area set aside as the meadow. The meadow area shall be irrigated to the full extent of the legal rights to do so, and Equity or its successors will retain the right and obligation to irrigate the meadow. Equity agrees that the water rights so reserved shall be made appurtenant to the meadow area for irrigation purposes only and deeds or other conveyances of the meadow area shall specifically restrict the uses of the retained water to irrigation of the meadow area. The irrigation water under this reservation will be diverted from existing or developed sources on the property, and not taken from the City water system. The meadow area will not be irrigated from the municipal water supply system. (g) Equity will either: (i) provide Park City with an attorney's opinion of title acceptable to the City Attorney, showing title to the 125 acre-feet dedicated to Park City to be vested in Equity Properties Corp., subject to exceptions acceptable to the Park City B00• 4 Smith2/AGREE4 C]�f' G� Page 9 of 10 Pages Attorney, or, (ii) convey title to the dedicated water rights to Park City by Warranty Deed. 15. Annexation Agreement Review. The Park City Planning Commission is scheduled to review the terms of this Agreement at their meeting on May 11, 1988, and will forward its recommendations on the Agreement to the City Council. a ���PiFlI7C D THIS day of May, 1988. CORPORATE ' �> PARK CITY MUNICIPAL ORPORATION a g r3 MARCH 1, / BY Z4� 1884 // Hal W. Taylor/Mayor Anita L. U01e City Recorder EQUITY PROPERTIES CORP_, BY:l�— Ger d A. Jackson, is President Smith2/AGREE4 Page 10 of 10 Pages