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Home My WebLink AboutRESTRICTIVE LOT COVENANT - 22-00203 - KTRI Farms, LLC - 1025 S Yellowstone Hwy - Lot Line Adjustment& Restrictive Development Lot Covenant ALLIANCE !W2>19 Ibis covenant is g en by KTRI Farms LLC (Owner) to the Cite of Rexburg, and is in relation to Tile following prnperh, owned by MY Nolo, LLC (Owner). PROPI;R i) UG.SCRII'IION (Address and lsg•J Uc�cdprinn) 1. Address 1025 S Yellowstone Hwy, Rexburg, ID 2. Attach Ixgol Description for all effective parcels Parcel 1: Lot 1, Block 1 Tamana Fields North recorded as Instrument No 3276474 Parcel 2: See Attached Boundary Description PURPOSE OF f-OA'I?\:AN'I- Owner desires To have multiple legal lots owned by Owner, which comprise. the Propery descrilx•d above, treated as a single hot h+t the purpoacs of applying Rexburg (:irp Standards and any other applicable %Doing Ordinance precision. to Owner's proposed d,%elopnx:nr. The City is willing to allow Owner to treat the prnporry as a single <icuclnpment. lot ria rill se puq+I ars, pc bided Owner covenunta as provided herein. \('RI'I MFN'I-RINDINC' ON St T("(•I:SSOR¢ l` IV"1'h It I(�I This agreement is an instttnnent affecting the title and possce>ion of the Property, All the terms of This agreemenr shall run with the land and shall be hind ing on rite succes>ori in interest of Owner.. On any sale or division of the Property, the terms of [Iris m m m"It shall apply scpx:ately to cath parcel• and the owner of each parcel shall succeed to the obligarinn, imposed on Owner by this agreement. R l;ti I'li II:TI V 1'11CO V I""AMI' ( )water does not wish to vacate the Property's interior lot lines at this tare Owner covenants, how"'Cr, that foss and after execution and receniing of this document, the Property muss be eonve.ycrl as a single owner.bp: may to longer be clm>idercd multiple saleable units everr though a fonval vacouion of the inreri,rc lot liars Itis not occurred: and shall be comidered as a single lot for all eiry .Municipal Code and Zoning Ordinance putpusca. Nothing inthis covenant .hall prevem rile Owner or the Owner's successors in interest from adjustment of lot lines of other land use actions In the future, prrnsded such adjustments and actions comply fully with the applicable state and local Favus and regulations then torten[. U -1 -ml Ce.rmn 1 1 0 25th Anril 2022 O\ti'NI:R: (hr rhisL� day, of �"�_.•Q�•.dote nit, personally appeared known to me Ill be rhe pvnunfsl who ecctntcd ThRI i. RESTCTIVE DEVELO MEN'r LOT COVENANT and acknowledged ro me chat ho/she executed the sante For the purposes here•.in. Residing at: U Aly commission expires: t/ Approval signaturreej rreequited before recording: t (TfY: 5 IVi1Lt'/ Dated this X day of . r By: F Uning &%ening Delrartment of Rexhurg orth Ist liasr u'+ ]D 83-040 « fpWMWMlC•3A11E0fU6W E7 C011111111111:1113" NO. mm COMM. Up.. "Mill D Zmomw09-Z h a -o b(n2Q9Z m5�l=lo- M0 � CD ZCFt.1A m m o;DW,a m0 h O A m � m �1 O n h m 449492 ®®Restrictive Development Lot Covenant ALLIANCE TITLE a.. ESCROW LLC 51231 9 This covenant is given by KTRI Farms LLC .(Owner) to the City of Rexburg, and is in relation to the following property owned by MY Nolo, LLC .(Owner). PROP1-RTYDLSCRIP'1'ION (Address and Lcgal Description) 1. Address 1025 S Yellowstone Hwy, Rexburg, ID 2. Attach Legal Description for all effective parcels Parcel 1: Lot 1, Block 1 Tamana Fields North, recorded as Instrument No 3276474 Parcel 2: See Attached Boundary Description PURPOSE OF COVENANT Owner desires to have multiple legal lots owned by Owner, which comprise the Property described above, treated as a single lot for the purposes of applying Rexburg City Standards and any other applicable Zoning Ordinance provisions to Owner's proposed development. The City is willing to allow Owner to treat the property as a single development lot for those purposes, provided Owner covenants as provided herein. AGREEMENT BINDING, ON SUCCESSORS IN IN HRI�SI' This agreement is an instrument affecting the title and possession of the Property. All the terms of this - agreement shall mn with the land and shall be binding on the successors in interest of Owner. On any sale or division of the Property, the terms of this agreement shall apply separately to each parcel, and the owner of each parcel shall succeed to the obligations imposed on Owner by this agreement. RF,STRIC'17VP: COVENANT' Owner does not wish to vacate the Property's interior lot lines at this time. Owner covenants, however, that from and after execution and recording of this document, the Property must be conveyed as a single ownership; may no longer be considered multiple saleable units even though a formal vacation of the interior lot lines has not occurred; and shall be considered as a single lot for all city Municipal Code and Zoning Ordinance purposes. Nothing in this covenant shall prevent the Owner or the Owner's successors in interest from adjustment of lot lines of other land use actions in the future, provided such adjustments and actions coutply Hilly with the applicable state and local laws and regulations then current. OWNER KTRI Farms LLCIN Da�,25thdaynfApril 2022 On this L�day of4Dr l .f , before me pers,,nally appeared known to me to be the person(s) who executed this RESTRICTIVE DEVELOPMENT LO COVENANT and acknowledged to me that he/she executed the same for the purposes herein. Notary�j. G Residing at U My commission expire.,: Approval signature required before recording: t CITY: 54 I�A V/ V Dated this day of By: PLEASE SUBMITORIGINAL TO: Planning & Zoning Department City of Rexburg 35 North 1st East Rexbuig, ID 83440 XD,)COM. JET XHAFOUJ NOTARrWOXOSUMCFUrAN COMAMSUM N0.700759 EXP. 06%1=2 EX MIT "A" 592319 Parcel 1: Lot 1, Block 1, according to the final plat Tamana Fields -- North, Madison County, Idaho, recorded August 10, 2012, as Instrument No. 376747. Parcel 2: A parcel of land located in the Northeast 1/4 of Section 36, Township 6 North, Range 39 East, B.M., Madison County, Idaho. Commencing at the East 1/4 comer of said Section 36 from which the center 1/4 of said Section 36 bears S 89°48'51" W 2,634.82 feet being the basis of bearing for this description; Thence along the South line of said Northeast 1/4 and the North line of Tamana Fields -North Inst. No. 376747 S 89°48'51" W a distance of 2,342.69 feet to a found 5/8" iron pin marked pls 9369; Thence leaving said South line and along the Easterly boundary line of Lot 1, Block 1 Tamana Fields - North Inst. No. 376747, N 00°11'07" W a distance of 138.30 feet to a found 5/8" iron pin marked pls 9369 being the point of beginning; Thence leaving said East line and along the North boundary line of said Lot 1, S 89°48'55" W a distance of 242.07 feet to a 5/8" iron pin with illegible marks; Thence leaving said North line N 30°0848" E a distance of 23.17 feet to a set 5/8" iron rod marked pls 10786; Thence N 89048155" E a distance of 230.36 feet to a set 5/8" iron rod marked pls 10786; Thence S 00° 11'07" E a distance of 20.00 feet to the point of beginning.