HomeMy WebLinkAboutTown Center North 2nd AmdCity of Wheat Ridge, Colorado — a home rule municipal corporation (the "City")
Wheat Ridge Urban Renewal Authority — doing business as Renewal Wheat Ridge, a body
corporate and politic of the State of Colorado (the "Developer")
THIS SECOND AMENDMENT TO THE SUBDIVISION IMPROVEMENTS
AGREEMENT is made this 23 day of December, 201 by and between the City and the Developer,
together referred to as the Parties.
A. The City Council of the City of Wheat Ridge, following public hearings on Septemb'"
20 201 approved the Town Center North Final Plat and Subdivision Improvements Agreement, su
Final Plat being recorded at Reception No. 2011100989 on November 7, 201 with the Jefferson Coun
Clerk and Recorder's Office and the Subdivision Improvements Agreement being recorded with tj
Jefferson County Clerk and Recorder's Office on November 7, 2011 at Reception No.2011100990 (t
44 SIA 11 ),
B. The description • the public works to be completed by the Developer was set forth and
described on Exhibit C to the SIA, while Exhibit C contemplated completion of all Subdivision
infrastructure at a cost of S1,466,41 1, with a completion date of June 30, 2012.
C. A First Amendment Town Center North Subdivision Improvement Agreement was
recorded with the Jefferson County Clerk and Recorder's Office on December 15, 2011 at Reception
No.2011113840 (the "First Amendment"),
11�1111qp pi
balance of the remaining lots in the Town Center North, and has provided a revised Exhibit C, revisi
the estimate to a new total of $2,075,430, and reallocating that total Subdivision Infftrastructure co
estimate to a Phase I amount • $886,094, a Phase H amount of $427,080, a Phase III amount
$347,170 and a contingency in the amount of $415,086.
E. The Developer confirms the SIA to provide that upon completion of the Phase I
Subdivision Infrastructure serving Lot 2 Town Center North, that the Owner of Lot 2, upon completion of
its Lot 2 vertical ininrovernents as jermitted, insieci 00" bv t1t, Citv- .01all be aut1r4wizei to
F. The Developer confirms that the SIA subdivision infrastructure completion date for t
Phase I improvements shall remain June 30'�, 2012. 1
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110W, TAGE FORE, for and in good and valuable consideration of the mutual covenants a
agreements contained herein, the sufficiency • which are mutually acknowledged, the Par 1 4
7,gree as follows:
1. Public Improvements — Exhibit C Description, Paragraph six entitled "Public Improvements
and Warranty" and the Exhibit C entitled "Subdivision Cost Estimate" shall be amended as
follows:
a. Exhibit C. The existing Exhibit C is deleted in its entirety and replaced by the new
Exhibit C attached hereto providing for (i) the Phase I description of the subdivision
work serving Lot 2 in the amount of $886,094; (ii) the Phase 11 description of the
subdivision work in the amount • $427,080, and the Phase III subdivision work (44'
Avenue traffic signal) m the amount of $347,170 and a contingency in the amount of
$415,08&
The Phase 11 subdivision infrastructure work shall be completed on or befo
September 26, 2012, This work includes the remaining sidewalks adjacent to publ
streets, public landscaping, replacement of landscaping associated with the P Ll ril
King restaurant as impacted by the construction of new public streets, e,!nt
monument sign, and the public pedestrian/street lighting system.
The Phase M subdivision work: the 44 Avenue / Vance Street traffic signal, shall
only be commenced and completed in accordance with paragraph seven of the SIA.
2. NQ� Eudhgr Apnodmont. Except as expressly set forth in this Second Amendment dated
December 23" 201 the SIA dated September 26, 201 and recorded with the Jefferson
County Clerk and Recorder on November 7, 201 at Reception No.2011100990 and the First
Amendment dated December 1 2011 and recorded with the Jefferson County Clerk and
Recorded on December 15, 201 at Reception No. 2011113840, shall remain unamended and
in full force and effect.
IN WITNESS WHEREOF, the parties hereto have executed this Segregated Escrow Account
Agreement as of the day and year first written above,
Title: Executive Director, Urban Renewal Authority
Name: Tim Paranto
Title: Director of Public Works