Preliminary Plat Extension Agreement (Cortona) This Preliminary Plat Extension Agreement (Cortona) ( Agreement ) by and between MARICOPA 240, L.L.C., an Arizona limited liability company and Desert Sunrise, L.L.C., an Arizona limited liability company (collectively, "Owner") and the CITY OF MARICOPA ("City") entered into as of day of, 2011. RECITALS A. The Cortona Preliminary Plat covers approximately 486.76 acre subdivision that includes approximately 1,480 lots. The property subject to the Cortona Preliminary Plat (the "Cortona Property") is generally located south of Farrell Road, west of Murphy Road, north of Steen Road and east of Hartman Road, within the incorporated limited of the City of Maricopa. B. The Cortona Preliminary Plat previously approved on December 4, 2007 and extended on November 9, 2009. The original approval on December 4, 2007 is attached hereto as Exhibit "A" and the November 9, 2009 extension approval is attached hereto as Exhibit "B". C. Owner and City desire to further extend the Cortona Preliminary Plat as provided herein. D. The Cortona Property is anticipated by City and Owner to be included within the North Santa Cruz Wash Regional Development Agreement, however, Owner understands and acknowledges that the North Santa Cruz Development Agreement has not been presented to the City Council and the City cannot guarantee that the Development Agreement will be approved by the City Council. AGREEMENT NOW THEREFORE, in consideration of the Recitals and the mutual covenants contained herein the parties do hereby agree as follows: 1. Cortona Preliminary Plat Extension. The Cortona Preliminary Plat approval is further extended until the later of: (i) November 9, 2013 or (ii) the date provided by the contemplated North Santa Cruz Wash Development Agreement if such agreement has been executed by Owner, the City and other parties thereto and approved by the City Council. 2. Stipulations. Owner and City have agreed to the additional five stipulations attached hereto as Exhibit "C" as well as all previously approved stipulations from Planning Case SUB06.10, approved December 4, 2007 and as extended on November 9, 2009 shown on Exhibits "A" and Exhibits "B". (SIGNATURE PAGE FOLLOWS) 7365.1.545331.3
In witness whereof the undersigned have entered into this Agreement as of the date first written. MARICOPA 240, L.L.C., an Arizona limited liability company CITY OF MARICOPA, an Arizona municipal corporation By: Its: By: Its: Craig V. Emmerson, Manager Oscar E. Swanky, Manager DESERT SUNRISE, L.L.C., an Arizona limited liability company By: Its: Craig V. Emmerson, Manager Mayor Dated: ATTEST: Clerk/Deputy Clerk This Agreement has been reviewed by the undersigned attorney for the City, who has determined that this Agreement is in proper form and is within the powers and authority granted pursuant to the laws of this State to the City City Attorney 7365.1.545331.3 2
Exhibit "A" December 4, 2007 Original Plat Approval 7365.1.545331.3
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Exhibit "B" November 9, 2009 Plat Extension Approval 7365.1.545331.3
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Exhibit "C" ADDITIONAL STIPULATIONS for SUB 06.10 CORTONA PRELIMINARY PLAT 1- At the time of the Cortona Final Plat Submittal, cul-de-sacs, knuckles, dead-ends and turning radii must be designed to the current standards of the City Of Maricopa Design Standards and Guidelines and designed to the City Of Maricopa Fire Department Requirements for Fire Apparatus and Turn-Arounds. 2- Per the Pinal County Drainage Manual Volume 1: Design Criteria, Chapter 2, the owner/developer must follow the guidelines for Encroaching of a Floodplain (section 2.3), the submittal of a Master Drainage Plan, and subsequently phased drainage reports for each parcel of development (section 2.4). 3- The Phase Two Drainage Report, at the time of submittal, will be subject to approval per the City s current Master Drainage Report, any addendums or additional technical memorandums, and the most current Flood Insurance Study. 4- Cortona is presented with the option to enter into an agreement with the adjacent Eagle Shadow development which would result in the rerouting of the historic offsite drainage flows within the South Side Canal along Steen Road to flow west through the Eagle Shadow development and connect with the proposed North Santa Cruz Wash. This agreement must be approved by the City of Maricopa. If this agreement between Cortona and Eagle Shadow does not occur or is not approved by the City of Maricopa, Cortona Phase Two will be required to revert back to the pre-development drainage condition. The pre-development condition of the drainage consists of having the flows travel within the South Side Canal along Steen Road to the east side of Hartman Road. This configuration would require the residential lots to be encumbered through setbacks along Hartman Road to accommodate the historic flows. 5- Maricopa Flood Control District (MFCD) has control of drainage easements located within the property of Cortona Phase Two, namely along the east side of Hartman Road. If MFCD is unwilling or unable to abandon, relocate or amend their easements prior to the development of Cortona Phase Two, the developer/engineer will be required to redesign the areas of Phase Two affected by the easements. The current configuration of the residential lots along Hartman Road causes such lots to be impacted by the existing MFCD drainage easements. 7365.1.545331.3