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HomeMy WebLinkAboutPurchase & Sale Agreement- BYUI Steiner ParkREAL ESTATE PURCHASE AND SALE AGREEMENT REAL ESTATE PURCHASE AND SALE AGREEMENT, dated the last day of execution below ("Effective Date"), between the Purchaser and Seller identified in Section 2. Purchaser and Seller agree as follows: 1. Purchase and Sale. Purchaser shall purchase and Seller shall sell the Property under the terms and subject to the conditions set forth in this Agreement. 2. Parties. The name, address and email of Purchaser and Seller are: 2.1 Seller BRIGHAM YOUNG UNIVERSITY — IDAHO (known hereafter as BYU-I). 525 S. Center, Rexburg, ID 83460. Attn: Phone: Instrument # 470493 d Email: REXBURG, MADISON, IDAHO 10-9-2025 10:00:53 AM No. of Pages: 16 (with copy to) Recorded for: CITY OF REXBURG KIM H. MUIR Fee: 55.00 Ex-Officio Recorder Deputy �t� 2.2 Purchaser City of Rexburg Mayor Attn: Jerry Merrill 35 N. 1 sf East Rexburg, ID 83440 Phone: (208) 359-3020 Email: jerry.merrill@rexburg.org (with a copy to) City of Rexburg City Attorney Attn: Spencer Rammell, Esq. 35 N. l' East Rexburg, ID 83440 Phone: (208) 359-3020 Email: spencer.rammell@rexburg.org 3. Propeny. The Property is comprised of those certain parcel(s) of real property located in the City of Rexburg, Madison County, Idaho, better described as 5.02 acres as shown in Exhibit #1 attached to this Purchase Sale Agreement. The 5.02 acres is marked in the NE corner of Exhibit -1- #1 and is labeled as "TRACT 2 5.02 ACRES". The legal description of the Property shall be provided by Alliance Title & Escrow. The Property shall include the following: 3.1 Land. Those certain tracts of real estate legally described in the Legal Description together with all easements, covenants, rights, water rights, privileges, tenements and appurtenances now or hereafter belonging or appertaining thereto (collectively, the "Land"). 3.2. Improvements. All structures, fixtures and other improvements of every kind, if any, now or hereafter in, on, over and under the Land, including, without limitation, any and all landscaping, walkways, sidewalks, and lighting fixtures (collectively, the "Improvements") (the Land and Improvements, collectively, referred to as the "Premises"). 3.5. Intangibles. All right, title and interest of Seller in all existing surveys, blueprints, drawings, plans and specifications, reports (including, without limitation, soils, environmental and engineering reports) about the Property and to the extent assignable, all land use entitlements, development rights, licenses, permits, and authorizations for the Property. 3.6 Representations, As -Is Condition of Property. Purchaser acknowledges that prior to Closing, Purchaser shall have inspected the Property, and as of Closing, Purchaser will have satisfied itself in all respects therewith, including, but not limited to, all matters related to Hazardous Materials, and that Purchaser will be purchasing the Property on an AS IS, WHERE IS basis. Purchaser agrees that, other than the express warranties contained in Section 14.1 herein or in the statutory warranty deed, Seller has made no representations, warranties or agreements of any kind or nature regarding the Property, express or implied and Seller expressly disclaims any warranties or representations, whether express or implied, including any warranty of habitability, merchantability, or fitness for a particular purpose, including without limitation any of the following matters in any way related to or arising from: (1) the stability or suitability of the soil on the Property; (2) the presence or absence of any hazardous substances in, on, under or about the Property; (3) building, zoning, sensitive area, and all similar State and local laws or other law, rule, ordinance or regulation restricting the use, renovation, repair, improvement, or occupancy of the Property for any purpose; (4) the size or area of the Property and the location of boundaries; and (5) any defective condition of the Property; and Purchaser hereby releases, waives, and renounces any claim against Seller related to any or all of the matters discussed in this Section 3.6. 4. Purchase Price and Method of Payment. The total purchase price for the Property shall be Two Hundred Thousand Dollars ($200,000.00). 4.1 Method of Payment. In lieu of cash payment, the purchase price shall be satisfied through a credit of $200,000.00 to be applied toward all applicable city fees on building and development projects that BYU-I has undertaken or will undertake within the City of Rexburg. The City will create a liability account and as BYU-I draws permits, the amount will be reduced from said account. Payment of Purchase Price: Omitted 6. Earnest Money; Feasibility Consideration: Omitted -2- 7. Title Matters. 7.1 Convey. At Closing, Seller shall deliver a statutory warranty deed purporting to convey and conveying good and marketable fee simple title to the Property to Purchaser, subject only to Permitted Exceptions. 7.2 Title Review. 7.2.1 Not later than three (3) business days following the execution of this Agreement by Seller and Purchaser, Purchaser shall be furnished with a Preliminary Title Commitment for the Title Policy (the "Preliminary Title Commitment") from Alliance Title & Escrow (the "Title Company"). The Preliminary Title Commitment shall be accompanied by complete copies of any exceptions identified in Schedule B thereof. 7.2.2 Purchaser shall have five (5) business days after its receipt of the Preliminary Title Commitment in which to notify Seller of its approval and disapproval of each exception in Schedule B. Failure to so deliver such notice shall constitute Purchaser's approval of all exceptions in Schedule B. Exceptions not disapproved by Purchaser shall be Permitted Exceptions. Notwithstanding the foregoing, monetary encumbrances not expressly assumed by Purchaser shall not be Permitted Exceptions but shall be paid by Seller on or before Closing. 7.2.3 Seller shall have five (5) business days after its receipt of Purchaser's notice in which to notify Purchaser of its election to cure or remove any of the disapproved exceptions. Seller's failure to notify Purchaser shall constitute Seller's election not to remove such exceptions. Seller shall remove all exceptions it elects to remove on or before Closing. 7.2.4 If Seller does not elect to remove all exceptions disapproved by Purchaser, Purchaser may, within five (5) calendar days after Sellers' notice, elect to terminate this Agreement. If Purchaser does not so elect to terminate this Agreement, disapproved exceptions that Seller has not elected to remove shall become Permitted Exceptions. 7.3 Title Insurance Policy. At Closing, Escrow Agent shall commit to issue to and in favor of Buyer or its assigns a Standard Owner's Policy of Title Insurance with respect to the Property in the amount of the Purchase Price, insuring fee simple title to the Property in Buyer effective on the Closing Date, subject to the standard exclusions and exceptions in such form of policy and subject to the Permitted Exceptions (the "Title Policy"). 7.4 Title Not Insurable. If title is not insurable at Closing in accordance with this Agreement, Seller shall not be in default under this Agreement, unless Seller has intentionally failed or refused to deliver title and Purchaser may elect to proceed to Closing despite such non - insurability or may terminate this Agreement. -3- 8. Contin ems. 8.1 Purchaser's Feasibility Contingency; Property Information. 8.1.1 Feasibilijy Contingency Period. Purchaser shall have no obligation to purchase the Property unless Purchaser determines in its sole and absolute discretion that its purchase, use and development of the Property in accordance with its intentions will be physically, financially and otherwise feasible ("Purchaser's Feasibilfty Contingency"). Purchaser shall notify Seller in writing on or before the expiration of twenty (20) days after the Execution Date (defined below) of this Agreement (the "Feasibility Contingency Period") that it has made such determination, whereupon Purchaser's contingency under this Section 8 shall be satisfied. If Purchaser does not timely notify Seller or waive Purchaser's Feasibility Contingency in writing, this Agreement shall terminate and neither party shall have any further obligation to the other under this Agreement (except as such provisions as are otherwise expressly specified to survive termination). 8.1.2 Property Information. Within five (5) business days after the Effective Date, Seller shall deliver to Purchaser, for Purchaser's information and review, copies of all contracts, documents, instruments, surveys, studies, reports, correspondence or other papers of significance relating to the Property in Seller's possession or reasonably requested by Purchaser ("Property Information"). 9. Possession, Site Visits and Inspections. 9.1 Purchaser shall be entitled to possession of the Property upon Closing. Prior to Closing, Purchaser shall have the right for itself and its agents, employees, contractors, consultants and advisors ("Purchaser's Representatives") to enter onto the Property and to conduct such inspections and studies as Purchaser may deem necessary and appropriate, at Purchaser's sole cost and expense. Purchaser shall have access during normal business hours. Notwithstanding the foregoing, before any such entry, Purchaser shall require that Purchaser's contractors or inspectors provide Seller with a certificate of insurance reflecting coverage and meeting the conditions specified in Section 9.4 below. In addition, no Phase II environmental inspection or other invasive inspection or sampling of soils, water, air or other materials, including without limitation construction materials, for analytical testing, either as part of the Phase I inspection or any other inspection (collectively "Invasive Testing"), shall be performed without the prior written consent of Seller, which Seller shall not unreasonably withhold. Purchaser shall submit to Seller a written plan describing any Invasive Testing in reasonable detail and the party who will perform the Invasive Testing (an "Invasive Testing Plan') for Seller's written approval, which Seller shall not unreasonably withhold. Purchaser may not proceed with any Invasive Testing unless Seller has expressly approved in writing the relevant Invasive Testing Plan, and Purchaser shall conduct all Invasive Testing in compliance with the Invasive Testing Plan approved by Seller. Seller shall have the right to request and receive split samples of any materials collected for analysis by or for Purchaser. 9.2 No Disruption. Purchaser and Purchaser's Representatives shall conduct inspections and studies on the Property during the Feasibility Contingency Period in a manner -4- which is not disruptive to normal operation of the Property and the adjacent property owned by Purchaser. Purchaser and all Purchaser's Representatives shall, in performing activities in connection on the Property or during Purchaser's Feasibility Contingency, comply with any and all laws, ordinances, rules, and regulations applicable to the Property and will not engage in any activities which would violate any applicable lease, permit, license, or law or regulation. 9.3 Indemnification. Purchaser shall indemnify, protect, defend and hold Seller harmless from and against any obligation, liability, claim (including any claim for damage to property or injury to or death of any persons), lien or encumbrance, loss, damage (excluding special, punitive, or consequential damages), cost or expense, including reasonable attorneys' fees, whether or not legal proceedings are instituted, in any way arising from the access to and inspections or examinations of the Property by Purchaser or any Purchaser's Representative, but not to the extent that any of the foregoing matters are caused by the gross negligence of Seller or result from the pre -Closing discovery of an existing latent defect or existing environmental condition at the Property (in which event Purchaser shall not be required to indemnify the Seller for such existing latent defect or existing environmental condition). The obligations under this Section 9.3 shall survive termination of this Agreement. 9.4 Required Insurance. Prior to any entry onto or inspections of the Property by Purchaser and any Purchaser's Representatives, Purchaser shall: (a) maintain commercial general liability (occurrence) insurance in an amount no less than $1,000,000 and on commercially reasonable terms adequate to insure against all liability arising out of any entry onto or inspections of the Property, (b) deliver to Seller certificates of insurance for Purchaser and any Purchaser's Representatives entering onto the Property naming Seller and its property manager as additional insureds prior to entry upon the Property. Additionally, Purchaser shall promptly pay when due all costs of all inspections, studies and examinations done with regard to the Property. If the transaction contemplated hereby fails to close, restore the Property to substantially the same condition in which the same were found before any such entry upon the Property and inspection or examination was undertaken. This obligation shall survive termination of this Agreement. 9.5 Purchaser's Delivery of Studies and Reports upon Termination. If the transaction fails to close for any reason other than a default by Seller, Purchaser agrees to provide Seller with copies of all written studies, reports, surveys and other documents prepared for Purchaser by third parties with respect to the environmental, physical or other condition of the Property. Purchaser will not thereby be warranting, and shall not be responsible for, the accuracy, completeness, fitness or usability of such reports or the conclusions or recommendations stated therein. 10. Closing. Closing of the purchase and sale shall occur when the statutory warranty deed has been delivered and recorded and the Purchase Price has been delivered to Seller or is available to Seller. Closing shall be conducted through escrow at the offices of Alliance Title & Escrow. This Agreement, together with such other instructions as either party may submit that are consistent with this Agreement, shall be the escrow instructions to the Escrow Agent. Closing shall occur on a date designated by Purchaser and reasonably acceptable to Seller, which shall be on or before thirty (30) days following the Execution Date (the "Closing Date"). The parties shall each timely deposit with the Escrow Agent all instruments, documents and moneys necessary to enable the purchase and sale to close in accordance herewith. Real estate taxes for the current year -5- and assessments that are Permitted Exceptions for the current year shall be prorated as of the date of Closing. At Closing, any charges or assessments levied against the Property before Closing but due after Closing including, without limitation, capacity or facilities charges for sewer or water service for the Property shall be assumed or paid by Purchaser. 11. Closing Costs. Seller shall pay any real property transfer tax, one-half of the fees of the Escrow Agent, the premium for the Title Policy, up to the amount of the premium that would be charged for Purchaser's standard coverage title insurance, its own attorneys' fees, and other closing costs customarily borne by sellers. Purchaser shall pay the cost of recording the deed, one-half of the fees of the Escrow Agent, the amount by which the premium for the Title Policy and any endorsements desired by Purchaser exceeds the premium that would be charged for Purchasers' standard coverage, its own attorneys' fees, and other closing costs customarily borne by purchasers. 12. Risk of Loss. If the Property or any part thereof is destroyed or damaged prior to Closing, Seller shall promptly notify Purchaser in writing of any such damage or destruction. In the event of destruction or damage, Purchaser may elect to either (a) proceed to Closing, or (b) terminate this Agreement. If Purchaser elects to proceed to Closing, Purchaser shall be entitled to the benefits of all applicable insurance policies affecting the Property and, at Closing, Seller shall (i) credit against the Purchase Price the amount of deductibles under all applicable insurance policies, and (ii) shall execute and deliver to Purchaser all required proof of loss, assignments of claims and other similar items. 13. Fencing Between Properties. Purchaser hereby acknowledges that it will construct a fence around the boundary line. The agreed upon fence will be a 6 ft chain link fence including two gates at a location acceptable to both parties. The fence will be constructed contemporaneous to Purchaser's development of the Property. 14. Representations and Warranties. 14.1 Seller's Representations. Seller makes only the following representations and warranties to Purchaser and acknowledges that Purchaser is relying on such representations and warranties in entering into this Agreement. Such representations and warranties are true as of the date of this Agreement, shall be true as of and at the Closing, shall survive Closing, and shall not be waived or diminished by reason of any investigation made by Purchaser or its agents. 14.1.1 Existence, Power and Authority. Seller is validly in existence, with full power and authority as such entity to own its properties and conduct its business as presently conducted. The execution of this Agreement by the undersigned signatory and performance of the transactions contemplated by this Agreement have been duly authorized by all necessary action on the part of such entity. 14.1.2 No Conflict. The execution of this Agreement and the carrying out of the transactions contemplated hereby will not conflict with or result in a breach of any agreement, contract, commitment, undertaking, order, judgment or decree that is binding on Seller. Except as may have been specifically disclosed in writing by Seller to Purchaser prior to this Agreement, -6- there is no litigation or other proceeding pending or overtly threatened against Seller that could have a material adverse effect on the ability of Seller to perform its obligations under this Agreement or otherwise involving the Property. 14.1.3 Hazardous Materials. Except as otherwise included in the Property Information, Seller has received no written notice from any federal, state, county or municipal authority as to: (a) the existence of any Hazardous Materials on the Property in violation of any Environmental Law; or (b) the current violation of any Environmental Laws with respect to the Property. To the knowledge of Seller, except as otherwise specified in any reports or studies contained in the Property Information: (i) the Premises do not contain Hazardous Materials; (ii) the soil, surface water and ground water of, under, on or around the Premises do not contain Hazardous Materials; (iii) the Premises has never been used for or in connection with the manufacture, refinement, treatment, storage, generation, transport or hauling of any Hazardous Material in violation of or in excess of levels permitted by applicable Environmental Laws, nor has the Premises been used for or in connection with the disposal of any Hazardous Materials; and (iv) the Premises is now and at all times has been in compliance with all Environmental Laws. As used in this Agreement: "Hazardous Materials" means (x) any radioactive materials; (y) any substance or material the transportation, storage, treatment, handling, use, removal or release of which is subject to any Environmental Law; or (z) any substance or material for which standards of conduct are imposed under any Environmental Law. Without limiting the generality of the foregoing, Hazardous Materials include: asbestos and asbestos -containing materials (whether or not friable); urea - formaldehyde in any of its forms; polychlorinated biphenyls; oil, used oil; petroleum products and their by-products; lead -based paint; radon; and any substances defined as "hazardous waste," "hazardous substances," "pollutants or contaminants," "toxic substances," "hazardous chemicals," "hazardous pollutants," or "toxic chemicals" under any law, statute, ordinance or regulation governing environmental matters or hazardous materials. As used in this Agreement, "Environmental Law" shall mean any federal, state or local laws, ordinance, permits or regulations, or any common law, regarding health, safety, radioactive materials or the environment, each as amended, and any regulations promulgated under those laws, guidance and directives issued with respect to those laws, or policies adopted by the applicable authorities under those laws. 14.1.4 Prohibited Persons and Transactions. Neither Seller nor any of its affiliates, nor any of its respective partners, members, shareholders or other equity owners, and none of its respective employees, officers, directors, representatives or agents is a person or entity with whom United States persons or entities are restricted from doing business under regulations of the Office of Foreign Asset Control ("OFAC") of the Department of the Treasury (including those named on OFAC's Specially Designated and Blocked Persons List) or under any statute, executive order (including the September 24, 2001, Executive Order Blocking Property and Prohibiting Transactions with Persons Who Commit, Threaten to Commit, or Support Terrorism), or other governmental action and is not and will not engage in any dealings or transactions or be otherwise associated with such persons or entities. 14.1.6 Disclosures. Seller has disclosed to Purchaser all material facts known to Seller concerning the Property or this Agreement, without duty of investigation, and any facts which are known to Seller and necessary to make those that have been disclosed not misleading, of which Seller is aware. -7- 14.1.7 Litigation and Condemnation. Except as otherwise disclosed to Purchaser in the Property Information, Seller has not received written notice of and, to the knowledge of Seller, there are no: (a) pending or threatened claims, actions, suits, arbitrations, proceedings (including condemnation proceedings) or investigations by or before any court or arbitration body, any governmental, administrative or regulatory authority, or any other body, against or affecting the Property or the transactions contemplated by this Agreement; or (b) orders, judgments or decrees of any court or arbitration body, any governmental, administrative or regulatory authority, or any other body, against or affecting the Property or the transactions contemplated by this Agreement. 14.1.8 Taxes and Assessments. To the knowledge of Seller, there are no pending or threatened improvements liens, or special assessments made or to be made against the Property by any governmental authority other than the Permitted Exceptions. 14.1.9 Compliance with Laws. Seller has received no written notice that Seller has not complied, and is currently not in compliance with, any federal, state and local laws, regulations and ordinances applicable to the development, ownership, operation, maintenance and management of the Property, and/or otherwise applicable to Seller, including, without limitation, any laws, regulations and ordinances relating to zoning, planning, land use and building restrictions, construction, subdivision, fire, health and safety, and disability. 14.1.10 BYU-I is not currently owned or operated by the Government of China, as defined in Idaho Code § 67-2359. 14.1.11 In accordance with Idaho Code § 67-2346 BYU-I certifies that it is not currently engaged in a boycott of goods or services from Israel or territories under its control. 14.2 Purchaser's Representations. Purchaser makes the following representations and warranties to Seller and acknowledges that Seller is relying on such representations and warranties in entering into this Agreement. Such representations and warranties are true as of the date of this Agreement, shall be true as of and at the Closing and shall survive closing. 14.2.1 Authori1y. The execution and delivery of this Agreement and the performance of Purchaser's obligations hereunder have been duly authorized by all necessary action on the part of Purchaser, and this Agreement constitutes the legal, valid and binding obligation of Purchaser, subject to equitable principles and principles governing creditors' rights generally. 15. Commission. Each of Purchaser and Seller warrant and represent to the other that there are no brokers, agents, or finders and there are no finders' fees, commissions, or similar fees due in connection with this Agreement. Each of Purchaser and Seller shall indemnify, defend, and hold the other harmless from and against all liability, loss, cost, damage, or expense (including but not limited to reasonable attorneys' fees and costs) that the other parry incurs due to any claim by a broker, agent, or finder claiming under such indemnifying parry, whether or not such claim is meritorious. -8- 16. Notices. Notices and other communications under this Agreement shall be in writing and shall be effective when received by personal delivery to the other party, or received by certified mail, return receipt requested (which receipt shall be deemed to occur three days after mailing), or sent by fax or email, in each case to the address, fax number or email address set forth in Section 2, directed to the attention of the person identified therein. 17. Default; Remedies. If either party fails to perform its obligations when due under this Agreement, and such failure continues following notice from the other party and a five (5) day opportunity to remedy such failure, such party shall be in default. If Purchaser is in default, Seller's exclusive remedy shall be termination of the contract. If Seller is in default, Purchaser may either (a) maintain an action for its actual damages, or (b) maintain an action for specific performance (together with recovery of costs and attorneys' fees incurred in such action), provided that an action for specific performance is commenced within sixty (60) days of the scheduled Closing Date. In either case, Purchaser shall not be entitled to recover more than actual damages as proven at trial. In no event shall Purchaser be entitled to recover and special, punitive, or consequential damages, such as lost profits. 19. General Provisions. 19.1 Time is of the essence of this Agreement. 19.2 This Agreement is the entire agreement of the parties concerning the subject matter and may not be modified except in a writing signed by both parties. 19.3 This Agreement shall be binding upon and inure to the benefit of the parties and their respective heirs, successors and assigns. 19.4 If the date for any performance under this Agreement falls on a weekend or a holiday, the time for such performance shall extend to the next business day. 19.5 Any Exhibits identified in this Agreement are incorporated into and made a part of this Agreement. 19.6 This Agreement shall be governed by and construed in accordance with the laws of the State of Idaho. In any action arising under this Agreement, venue shall be in Madison County, Idaho. 19.6 This Agreement may be executed in any number of counterparts, each of which shall be effective only upon delivery, including delivery by facsimile, Portable Document Format (pdf) email transmission and/or any electronic signature transmission format, and thereafter shall be deemed an original, and all of which shall be taken to be one and the same instrument, for the same effect as if all parties hereto had signed the same signature page. Any signature page of this Agreement may be detached from any counterpart of this Agreement without impairing the legal effect of any signatures thereon and may be attached to another counterpart of this Agreement identical in form hereto but having attached to it one or more additional signature pages. Signatures -9- transmitted via facsimile, e-mail and/or by any electronic signature format as defined under the US Federal ESIGN Act (ex. DocuSign, Adobe Sign, and the like) shall be considered original, authentic and binding, and each party waives the right to assert that such copies fail to comply with the Best/Secondary Evidence Rule in any legal forum. 21. 1031 Exchange. The parties acknowledge that either party may desire to structure the sale or the purchase of the Property as an exchange pursuant to Section 1031 of the Internal Revenue Code of 1986. The parties agree to reasonably cooperate with each other to accomplish such exchange(s) and each party hereby agrees that any and all costs associated with said exchange shall be borne solely by the exchanging party and shall in no way be attributable to the non -exchanging party. In no event shall the non -exchanging party be required to take title to the exchanged property(ies) to effectuate the tax -deferred exchange contemplated by this paragraph. 22. Further Acts. The parties shall execute such further documents and take such other further actions as may be reasonably necessary to carry out the intent and provisions of this Agreement. [no further text on this page; signature page(s) follow -10- EXECUTED as of the dates indicated below. SELLER: BRIGHAM YOUNG UNIVERSITY - IDAHO By: AiQFTT 4• COO, 1000, is �ij /0 10 Date: Oe-�vle,d— 6, as u PURCHASER: City of Re burg Original Approved as to Form: By: �z Name: L . `2% B ✓L Name: Spencer Rammell Title: Title: City Attorney Date: ,S Date: ° s ,2 c— ATTEST: By: Name 0 _� ✓� 1 C V Title: City Clerk Date: 101 6 /?- o �-S AKAROA PROPERTIES LLC INS. 461344 ptt OF REXBURG INS 424495 N 9.16'R'E 7.19 M.4W JEREMY BARNES INS. 420429 "N, \ NW'1:46'E M.W Nh5'59VJ"- IMAY F.Ivw 2.16' 55.34 i I 6 I DELOY WARD INS. 241902 F\CIiVRBJ VF- .7UR V C T - ODUIV LJ/1R T LIIVC /AL/JUJ I IVICIV I BRIGHAM YOUNG UNIVERSITY-IDAHO PART OF SECTION 31, TWP. 6 N, RANGE 40 E, B.M. MADISON COUNTY, IDAHO NORTH i COR SEC 31 BRASS CAP FOUNT INS. 273576 GALE HARDING CORPORATION OF THE RICHARD DAMS INS. 375160 PRESIDING BISHOP FAWLY TRUST KO'OS'Ub'N' ISA6' SN9YS4rW )J.tJ' INS. 346953 VIS. 375169 Nxr4J•JP! MO.Ir _ "BPJS'Jb'E 4J0.91' "Ism6M14'31'W 4]IAI' NO'IT36'W J5.4M1' S0'Iv3T SI.SS' TRACT) FJBv'4S4bY. ISJ.SW S02 ACRES .b, BRIGHAM YOUNG UNIVERSITY - DAHO INS, 340913 TRACT 2 69.11 ACRES SM'42'U'W IOJ.BT P�1460.-1 CIDRD- SIBS' IBI'^W 2310 D=9' 1R 3e' SB)'Sb'SJ^W WAT NBN'5J5)'W 2JO03' —NWts'4rW 47.ET' UNIVERSITY BOULEVARD S3'IFJM1'E L-N.47. lt1 .00 CHIORD - SU' 4T 03-13.01 D-W IT45' SURVEYOR'S CERTIFICATE �5usrF,�°iL 1, JDTIRY N. ROTC. A PROFESSDNLL RAND SUARYNJ N THE SINE OF OJID. NIMIEN 13950. 00 KAFBf aXnFY THIT THIS WP ND RE SUR V MOM TO � 13656 1113M HERE PEIFOWED IJWR NY RESFON96E VLJNY N AODD%k%E WIN UUD STATE WOE, v , ��R Df oYg n IEIATNG IO SRNEYS. '4[T N NOTE . NOTES ARE RASH ON THE QW STATE PLANE COOMWE SSTM EAST :ONE. WD 93 DARAL OISINIMS SIM HEREON AAE MM OSTMCE ES USING W INOM PWXCF EIEWTON OF 49W FEET. REiIRDICE FRNE: ND aXioi 1) (ErWN 2010E000) A ME WARM WS 10 POPOFNED IN TERM YEW ARNEYIO NOR WAS A TNIE REPORT FROXG) TO US IN THE VENT FOR INS PROPERTY. TIEIE UW N MNG EASOIENIS 11NT NFEp M5 PROPFRIY AND ARE NII SHORN HDIIFONN. REFERENCES: $104m IEUER ASSOCMTES - INS. 3=24 NARRATIVE: HIED By 41m SaMm WIN IHAH-1 TO PREPARE THIS 901RDw LINE ADASINOE. N 200' 100" 0 200' SCALE: I' a 2OW WARNING UNE IS 2 MVHfS (s Nor z'TawNi SAavgowaq LEGEND • C"LKA1ED POSRDII N0116C roumv 0 RmN W/NO CAP TOM 0FC WAR ITIR C W FOUND • SET S/6' R 24' i NNFB 61M A PIASTC CAP61WPm'RS 13W WNIRALM SMW WRIER FNR (AS NOTED) nvo IXPRIm SECTION ODAER FND. (AS HIM) SEOTOIH I11E — P POSFD PROPOP LINE — DOM FENCE CENTER J CORNER BRASS CAP FOUND NS. 267997 / RECORD OF SURVEY - I I VIEW SURV '.'Ala — 700 N.h 61.A hm I0.-1.1 DESCRIPTION - 69.11 ACRES BYUI REMAINDER SITUATED IN THE STATE OF IDAHO, COUNTY OF MADISON, BEING PART OF SECTION 31, TOWNSHIP 6 NORTH, RANGE 40 EAST, OF B.M., BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT A BRASS CAP FOUND MARKING THE NORTH 1/4 CORNER OF SAID SECTION 31; THENCE SOUTH 00033'25" EAST, A DISTANCE OF 658.48 FEET TO A POINT; THENCE SOUTH 89026'31" WEST, A DISTANCE OF 459.48 FEET TO THE POINT OF BEGINNING; THENCE SOUTH 00019'25" EAST, A DISTANCE OF 27.55 FEET TO A REBAR WITH AN ALUMINUM CAP FOUND; THENCE SOUTH 01 058'02" WEST, A DISTANCE OF 500.40 FEET TO A REBAR WITH AN ALUMINUM CAP FOUND; THENCE SOUTH 02013'58" EAST, A DISTANCE OF 300.17 FEET TO A REBAR WITH AN ALUMINUM CAP FOUND; THENCE SOUTH 00019'25" EAST, A DISTANCE OF 458.50 FEET TO A REBAR WITH AN ALUMINUM CAP FOUND; THENCE SOUTH 03018'46" EAST, A DISTANCE OF 191.76 FEET TO A REBAR WITH AN ALUMINUM CAP FOUND; THENCE SOUTH 00019'25" EAST, A DISTANCE OF 335.05 FEET TO A POINT; THENCE ALONG A NON TANGENT CURVE TO THE RIGHT, HAVING A DELTA ANGLE 90012'45",A RADIUS OF 60.00 FEET, AN ARC LENGTH OF 94.47 FEET, WITH A CHORD BEARING OF SOUTH 44047'03" WEST, AND A CHORD LENGTH OF 85.01 FEET, - THENCE SOUTH 89053'31" WEST, A DISTANCE OF 955.24 FEETTO A REBAR WITH AN ALUMINUM CAP FOUND; THENCE NORTH 88054'53" WEST, A DISTANCE OF 240.05 FEET TO A REBAR WITH AN ALUMINUM CAP FOUND; THENCE SOUTH 87056'54" WEST, A DISTANCE OF 147.43 FEET TO A REBAR WITH AN ALUMINUM CAP FOUND; THENCE ALONG A NON TANGENT CURVE TO THE LEFT, HAVING A DELTA ANGLE 09010'38",A RADIUS OF 1,460.00 FEET, AN ARC LENGTH OF 233.85 FEET, WITH A CHORD BEARING OF SOUTH 85°18'12" WEST, AND A CHORD LENGTH OF 233.60 FEET REBAR WITH AN ALUMINUM CAP FOUND; THENCE SOUTH 80042'53" WEST, A DISTANCE OF 184.87 FEET TO A REBAR WITH A PLASTIC CAP FOUND; THENCE NORTH 00016'42" WEST, A DISTANCE OF 963.52 FEET TO A REBAR WITH A PLASTIC CAP FOUND; THENCE SOUTH 88025'46" EAST, A DISTANCE OF 2.18 FEET TO A REBAR WITH A PLASTIC CAP FOUND; THENCE NORTH 03046'47" EAST, A DISTANCE OF 337.12 FEET TO A REBAR WITH A PLASTIC CAP SET, STAMPED "PLS 13856", THENCE NORTH 85059'03" EAST, A DISTANCE OF 180.45 FEET TO A REBAR WITH A PLASTIC CAP SET, STAMPED "PLS 13856"; THENCE NORTH 80012'46" EAST, A DISTANCE OF 54.39 FEET TO A REBAR WITH A PLASTIC CAP SET, STAMPED "PLS 13856"; THENCE EAST, A DISTANCE OF 90.00 FEET TO A REBAR WITH A PLASTIC CAP SET, STAMPED "PLS 13856", THENCE NORTH 41 °16'27" EAST, A DISTANCE OF 736.05 FEET TO A REBAR WITH A PLASTIC CAP SET, STAMPED "PLS 13856"; THENCE NORTH 89045'46" EAST, A DISTANCE OF 153.50 FEET TO A REBAR WITH A PLASTIC CAP SET, STAMPED "PLS 13856"; THENCE NORTH 00017'56" WEST, A DISTANCE OF 45.46 FEET TO A REBAR WITH A PLASTIC CAP SET, STAMPED "PLS 13856"; THENCE NORTH 89045'49" EAST, A DISTANCE OF 825.36 FEET TO THE POINT OF BEGINNING. CONTAINING 69.11 ACRES OF LAND, MORE OR LESS. DESCRIPTION - 5.02 ACRES BYUI TO CITY OF REXBURG SITUATED IN THE STATE OF IDAHO, COUNTY OF MADISON, BEING PART OF SECTION 31, TOWNSHIP 6 NORTH, RANGE 40 EAST, OF B.M., BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT A BRASS CAP FOUND MARKING THE NORTH 1/4 CORNER OF SAID SECTION 31; THENCE SOUTH 00033'25" EAST, A DISTANCE OF 658.48 FEET TO A POINT; THENCE SOUTH 89026'31" WEST, A DISTANCE OF 459.48 FEET TO A POINT; THENCE SOUTH 89045'49" WEST, A DISTANCE OF 825.36 FEET TO A REBAR WITH A PLASTIC CAP SET, STAMPED "PLS 13856", MARKING THE POINT OF BEGINNING; THENCE SOUTH 0001 T56" EAST, A DISTANCE OF 45.46 FEET TO A REBAR WITH A PLASTIC CAP SET, STAMPED "PLS 13856"; THENCE SOUTH 89045'46" WEST, A DISTANCE OF 153.50 FEET TO A REBAR WITH A PLASTIC CAP SET, STAMPED "PLS 13856"; THENCE SOUTH 41 °16'27" WEST, A DISTANCE OF 736.05 FEET TO A REBAR WITH A PLASTIC CAP SET, STAMPED "PLS 13856"; THENCE WEST, A DISTANCE OF 90.00 FEET TO A REBAR WITH A PLASTIC CAP SET, STAMPED "PLS 13856", THENCE SOUTH 80012'46" WEST, A DISTANCE OF 54.39 FEET TO A REBAR WITH A PLASTIC CAP SET, STAMPED "PLS 13856"; THENCE SOUTH 85059'03" WEST, A DISTANCE OF 180.45 FEET TO A REBAR WITH A PLASTIC CAP SET, STAMPED "PLS 13856"; THENCE NORTH 03046'47" EAST, A DISTANCE OF 42.77 FEET TO A REBAR WITH A PLASTIC CAP FOUND; THENCE NORTH 43045'51" EAST, A DISTANCE OF 60.61 FEET TO A REBAR WITH NO CAP FOUND; THENCE NORTH 47048'31" EAST, A DISTANCE OF 7.03 FEET TO A REBAR WITH NO CAP FOUND; THENCE NORTH 56°38'21" EAST, A DISTANCE OF 244.95 FEET TO A REBAR WITH NO CAP FOUND; THENCE NORTH 06023'42" EAST, A DISTANCE OF 379.44 FEET TO A REBAR WITH A PLASTIC CAP FOUND; THENCE NORTH 89045'46" EAST, A DISTANCE OF 630.91 FEET TO A REBAR WITH A PLASTIC CAP FOUND; THENCE NORTH 00025'06" WEST, A DISTANCE OF 15.46 FEET TO A REBAR WITH A PLASTIC CAP FOUND; THENCE NORTH 89045'49" EAST, A DISTANCE OF 34.83 FEET TO THE POINT OF BEGINNING. CONTAINING 5.02 ACRES OF LAND, MORE OR LESS.