ENCLAVE ON OLIVE_A AGMT&RESO.PDF

ASSURANCE AGREEMENT
This Assurance Agreement (hereinafter "Agreement") is made on March24,202l,by
and between MARICOPA COLINTY, a political subdivision of the State of Arizona, (hereinafter
"County"); and WEST OLIVE 43, LLC, an Arizona limited liability company (hereinafter
"D/B"). The term "D/B" as used herein shall include D/B and any and all successors in title to
the Property.
Whereas, D/B is the owner of certain real property full described in Exhibit A attached
hereto and made apart hereto (herein referred to as "Property"); and
Whereas, D/B has applied to the County pursuant to A.R.S. $11-821 et seq. to subdivide
the Property for single family residential development; and
Whereas, A.R.S. $11-821(C) provides: "The regulations shall require the posting of
performance bonds, assurances or such other security as may be appropriate and necessary to
ensure the installation of required street, sewer, electric and water utilities, drainage, flood
control and improvements meeting established minimum standards of design and construction;"
and
Whereas, A.R.S. $ I 1-822(,4.) provides: "No plat of a subdivision of land within the area
of jurisdiction of the County shall be accepted for recording or recorded until it has been
approved by the Board. The approval of the Board shall be endorsed in writing on the plat and
shall also include specific identification and approval of the assurances;" and
Whereas, D/B has requested that, to satisfy the statutory requirement for providing an
assurance to ensure the installation of required improvements, that the County enter into an
agreement with D/B that no building permits for the construction of homes for sale to third
parties shall be issued in connection with the Property unless and until such time as all required
improvements that meet the minimum standards of design and construction established by the
County pursuant to plans and specifications that have been approved by the County (i) have been
installed at no cost or expense to the County and (ii) have been inspected by the County, which
has been satisfied with such installation pursuant to guidelines adopted by the County; and
Whereas, any such agreement entered into between the parties shall be deemed to be a
"Building Permit Hold;" and
Whereas, the County is agreeable to entering into such a Building Permit Hold to serve as
the statutorily required assurance of performance provided all of the terms of such Agreement
are satisfied.
NOW THEREFORE, in consideration of the mutual premises contained herein and other
good and valuable consideration, the parties agree as follows:
1. The above recitals are incorporated herein as if fully reproduced at length.
2. No building permit shall be issued to allow construction on or in connection with the
Property except:
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a. Building permits for the installation and completion of all required infrastructure for
the project pursuant to plans approved by any and all applicable agencies.
b. Not more than two (2) building permits issued by the County in accordance with
applicable building codes for model homes, each home to be located on specific lots
approved by the County and be part of a "model home complex". No issued building
permit shall include the right to occupy any model home for any purpose other than to
demonstrate the style of home available to purchasers within the project; provided
that the garage and kitchen areas of one such home per model complex, as designated
by D/B, may be used for the purpose of conducting sales of homes to prospective
third party purchasers.
3. No building permit of any kind shall be issued unless and until this Agreement has been
recorded in the office of the Maricopa County Recorder. Upon completion of the infrastructure
which this Agreement assures or other proper termination of this Agreement, the County shall
execute an appropriate document presented to it by D/B for recording to provide notice that this
Agreement has terminated.
4. In the event the County Board of Supervisors shall not approve the subdivision plat for
the Property, this Agreement shall be deemed to be terminated properly and of no force or effect.
5. D/B shall, at all times during the pendency of this Agreement, maintain a valid, active
building permit for construction of any and all required subdivision infrastructure which has not
been completed and approved by the appropriate agency.
6. Should D/B breach this Agreement, any and all building permits that have been issued
for the Property shall immediately cease to be valid unless and until a financial assurance, in
form and amount satisfactory to the County, has been provided to and accepted by the County.
7. This Agreement shall not be deemed to be satisfied unless and until all building permits
issued for the Property have been completed and all required warranty assurances have been
provided.
8. This Agreement may be terminated by D/B providing substituted assurances as required
by ordinances and regulations of Maricopa County as a substitute for this Agreement. Any
financial assurance shall be based upon one hundred twenty percent (120%) of a County
approved cost estimate, as prepared by a civil engineer licensed in the State of Arizona, for the
remaining improvements at the time of termination. Said estimate shall be based on current unit
costs for the various remaining work items.
9. This Building Permit Hold does not and shall not be interpreted to include required
assurances for any and all improvements required by Maricopa County Department of
Transportation (MCDOT) that are located along the perimeter or outside the boundaries of the
Property. Said improvements shall be assured by proper financial assurance(s) pursuant to
guidelines provided by MCDOT. The building permit for the subdivision's infrastructure and the
associated MCDOT Right-of-Way Permit shall not be issued until such time that the proper
assurance is provided for improvements required by MCDOT that are located along the
perimeter or outside the boundaries of the Property.
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10. Nothing contained in this Agreement shall be construed as obviating the necessity of D/B
providing financial warranty assurances for any improvements pursuant to applicable County
ordinances, resolutions or rules.
11. This Agreement may be cancelled by the County pursuant to the terms of A.R.S. $ 38-
511.
12. All notices, and communications to be given under this Agreement shall be in writing and
shall be deemed to have been duly given if delivered personally (in which case the date of
delivery would the actual date), if mailed first-class, postage prepaid, or certified mail (in which
case the date of delivery would be three (3) days from the date of mailing), or if sent by
telegram, telex, facsimile, telecommunication or other similar form of communication (in which
case the date of delivery would be the date of receipt confirmation), as follows, or as otherwise
provided by notice to the other party:
If to Countv:
Maricopa County Planning and Development Department
501 N. 44'h Street
Phoenix AZ
Attention: Director
If to D/B:
8574 East Via de Viva
Scottsdale, AZ 85258
Attn: Clayton McKnight
13. This Agreement shall inure to the benefit of, be binding upon, and be enforceable by the
parties to this Agreement and their respective successors and assigns. This Agreement shall run
with and be an encumbrance upon the Property.
14. This Agreement, including all Exhibits, constitutes the entire agreement and
understanding between the parties relating to the provision of assurances required by statute and
supersedes all prior representations, communications and arrangements, whether oral, written or
inferred, between the parties relating to that subject matter. This Agreement shall not be
amended or modified except by a writing duly executed by D/B and the County. The waiver of
any breach of any term or condition of this Agreement shall not be deemed to constitute the
waiver of any other breach of the same or any other term or condition.
15. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction
shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability
without invalidating the remaining provisions of this Agreement, and any such prohibition or
unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in
any other j urisdiction.
16. This Agreement may be executed in any number of counterparts, each of which shall be
deemed an original, but all of which together shall constitute one and the same instrument.
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17. D/B shall provide to the County satisfactory evidence that the person executing this
Agreement for D/B has been authorized to do so.
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Dated as of the day and year first above written.
![B,:
WEST OLIVE 43,LLC, an Arizona limited liability
company
By: Washington Park Investments, L.L.C., an
Aizona limited liability company, its
By:
Clayton McKnight, its Sole
COUNTY:
MARICOPA COUNTY BOARD OF
SUPERVISORS
By:
Name:
Title:
Date:
Clerk of the Board of Supervisors
Approved as to form and content:
3/25/2021
Date:
Deputy County Attorney
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EXHIBIT A
(Legal Description of the D/B Property)
LOTS I THROUGH 32 INCLUSNE, A}ID TRACTS A TIIROUGH G INCLUSNE, OF
ZANJERO PASS PARCEL 4 PHASE 1, ACCORDING TO THE PLAT OF RECORD IN T}IE
OFFICE OF THE COUNTY RECORDER OF MARICOPA COUNTY, ARIZONA,
RECORDED IN BOOK 939 OF MAPS, PAGE 17.
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MARICOPA COUNTY
RESOLUTION NO.
C- ___________
A RESOLUTION OF THE BOARD OF SUPERVISORS OF MARICOPA COUNTY, PHOENIX,
ARIZONA (THE “COUNTY”) AUTHORIZING EXECUTION ON BEHALF OF THE COUNTY, AN
ASSURANCE AGREEMENT AMONG THE COUNTY; AND WEST OLIVE 43, LLC
(HEREAFTER, THE “OWNER”) REGARDING IMPLEMENTATION OF THE DEVELOPMENT
KNOWN AS THE ENCLAVE ON OLIVE SUBDIVISION
WHEREAS, Maricopa County is a growing county with respects to population, and
expects population growth to continue in the foreseeable future, and
WHEREAS, a sizable portion of this population growth will occur in unincorporated areas
as a result of large master-planned communities that will include a significant number of residents
and various types of land uses; and
WHEREAS, the Board of Supervisors recognizes that it must exercise its authority to
accommodate growth in an efficient manner that protects County residents and taxpayers from
undue fiscal burdens; and
WHEREAS, pursuant to Arizona Revised Statues §11-821(C) the posting of an assurance
satisfactory to the County, ensuring the completion of necessary infrastructure, is required as a
pre-condition to the granting of an approval to subdivide property; and
WHEREAS, Owner owns certain real property in unincorporated Maricopa County
comprising a total of approximately 40 acres (the “Property”); and
WHEREAS, Owner represents and warrants that it is the fee title owner of the Property
and has an interest in the Property as described in Arizona Revised Statutes §11-1101 B; and
WHEREAS, County wishes to enter into an assurance agreement in form and substance
acceptable to the County with Owner (the “Assurance Agreement”) for the subdivision known as
the Enclave on Olive in accordance with ARS §11-821 to help ensure timely and efficient
development of infrastructure and services for future residents within the Property, and to help
minimize fiscal impacts to County residents and taxpayers;

WHEREAS, ARS §11-821 provides that the Board of Supervisors may regulate the
subdivision of lands within its corporate limits by requiring the posting of performance bonds or
other forms of assurances, including assurance agreements, necessary to ensure the installation
of required street, sewer, electric and water utilities; and drainage and flood control improvements
meeting minimum standards of design and construction; and
WHEREAS, the Board of Supervisors has agreed to accept from Owner in order to meet
such requirements an assurance in the form of the “Assurance Agreement”.
NOW, THEREFORE, BE IT RESOLVED, the Board of Supervisors of Maricopa County
authorizes execution of the Assurance Agreement on behalf of the County.
EXECUTED this ___ day of __________, 2020, by Maricopa County Board of Supervisors,
Phoenix, Arizona.
_______________________________
Chairman,
Board of Supervisors
APPROVED AS TO FORM: ATTEST:
__________________________________ 3/25/2021 _______________________________
Attorney for the County Clerk of the Board