Proposed Marian Meadows Development Agreement

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under the Planned Unit Development (PUD) Ordinance (PD 17-00001), Conditional Use Permit (CU -17-00001) and Plat (LP17-0001). 2.1 Project Duration. The Project is anticipated to be phased over a twenty-year (20) period. The Developer will have discretion to determine the order of phasing elements to maximize work around the quarry buffer zone while allowing quarry operations to continue to supply minerals and material to the development. Further information on Project Phasing and Timelines is included in the attached Exhibit F. 2.2 Supportive Facilities. The Project will include supportive facilities such as a community center, athletic courts, a pool, solid waste handling facilities, roads, mail collection/distribution facilities and a trail network. 2.3 Project Oversight, Operations and Management. Until oversight, operations and ownership is transferred to MMOA as provided in Section 2.4 below, the Developer shall be responsible for all requirements set forth in this Development Agreement. 2.4 Transfer of Oversight, Operations and Ownership to Marian Meadows Ownership Association. Within thirty days following the end of the Development Period, but in no case later than sixty days after Developer has transferred title to the purchasers of single- family residences representing 75% of the 85 residences (meaning 64) to be included in the MMOA, Developer shall deliver or cause to be delivered to MMOA all community property, oversight, and operations as provided for in Chapter 64.90 RCW, the Washington Uniform Common Interest Ownership Act. Developer reserves the right to deliver the same at any time allowed by law. The MMOA will assume total oversight, control and authority over the developed portion of the Project and work with the Developer until final build out. Section 3. Residential Development. The Property described in Exhibit A will be developed into the Plat of Marian Meadows Estates, an 89 -lot residential subdivision over approximately 170 acres, including 73 single-family lots, 12 multi -family townhomes and 4 large residential lots. 3.1 Seventy -Three Single -Family Lots. There will be 73 fee -simple lots of 1/2 acre in size or larger, which will contain one single-family residence and/or assessor unit with or without detached out buildings, a water connection from Easton Water District and an on-site septic system. 3.2 Twelve Multi -Family Townhomes. There will be 12 attached multi -family units for sale, lease or rent. These units may be inclusive of enclosed or open parking structures and will share and support Marian Meadows Estates equal to the single-family uses. 3.3 Four Single -Family Large Lots. There will be 4 large parcels (67-95 acres in size) on the eastern slope of the Project that consist of a single-family residence with associated out -buildings, on-site septic, and may or may not include a water service connection to Easton Water District. These 4 parcels will not be members of the Marian Meadows Development Agreement — Page 4 of 12