HomeMy WebLinkAboutHance RanchR $128.00
D $0.00
20180137437
09/24/2018 12:03:56 PM 24Page(s)
t.. , JEFFERSON COUNTY, Colorado
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SUBDIVISION IMPROVEMENT AGREEMENT
�THIS AGREEMENT made this f of epi 2018 (the
"Effective Date") by and between the CITY OF WHEAT RIDGE, COLORADO, a home
rule municipal corporation (the "City"), and HANCE RANCH STATION, LLC, a Colorado
limited liability company (the "Developer"), together referred to as the "Parties."
A. The Developer is the owner of certain real property located in the City of
Wheat Ridge, which is more particularly described in Exhibit A and made a part hereof
(the "Property"). The project entails development of 63 townhomes, the site plan for which
is known as Hance Ranch — North End (the "Project").
B. On January 8, 2018 the City Council of the City of Wheat Ridge, after
holding all required public hearings, approved the final plat for the Property titled Hance's
Subdivision Replat No. 2 (the "Final Plat"). A copy of the Final Plat is attached hereto as
Exhibit B and incorporated herein.
C. The approvals cited above are contingent upon the express condition that
all duties created by this Agreement be faithfully performed by the Developer.
AGREEMENT
NOW, therefore, for and in consideration of the mutual promises and covenants
contained herein, the sufficiency of which are mutually acknowledged, the Parties hereto
agree as follows:
1. Purpose. The purpose of this Agreement is to set forth certain terms,
conditions in connection with the subdivision of the Property, and fees to be paid by the
Developer upon subdivision of the Property. All conditions contained herein are in
addition to any and all requirements of the City of Wheat Ridge Subdivision Ordinance
and Zoning Ordinance, the City of Wheat Ridge Charter, any and all state statutes, and
any other sections of the City of Wheat Ridge Municipal Code and are not intended to
supersede any requirements contained therein, except for those waivers or modifications
that are specifically enumerated herein.
2. Related City Agreements and Approvals. The Property is subject to that
certain Concept Plan for the Project titled Hance Ranch Concept Plan recorded with the
Jefferson County Clerk and Recorder on April 18, 2017, at Reception Number
2017040410 and will be subject to future review and approval of site plan(s), civil
construction documents, right-of-way permit application(s), site work permit
application(s), and building permit application(s). Through such approvals, the City will
review and approve the final design of any development and public improvements related
thereto. This Agreement is based on information available at the time of approval of the
Final Plat and shall not constitute approval of the Public Improvement designs. The
Developer shall obtain all required right-of-way, site work, and building permits, and
comply with all applicable conditions including, but not limited to, contractor licensing,
insurance, and bonding. As a part of the right-of-way permit, the Parties have agreed to
waive the City's requirement for resurfacing to the centerline based on street cuts on W.
52nd Avenue and on Tabor Street. The Developer agrees to limit the number of street cuts
to the greatest extent possible. Upon completion of the City's reconstruction of W. 52nd
Avenue and Tabor Street, the Developer will be subject again to the City's requirement
for resurfacing based on street cuts.
3. Fees. The Developer hereby agrees to pay City Development Review fees
to the City for engineering, hydrological, surveying, legal, and other services rendered in
connection with the review of the subdivision of the Property. Upon request, the City
agrees to provide a written accounting of such fees.
4. Parkland Dedication Fee -in -Lieu. Fees in lieu of land dedication shall be
calculated pursuant to the formula codified in Section 26-413 of the City Code. For this
Project, the total fee -in -lieu of parkland dedication is $127,362 and shall be paid upon
issuance of the first building permit.
5. Title Policy. Prior to recording of the Final Plat, a title commitment for all
those portions of the Property, as well as any other interests in real property (easements,
etc.) to be reserved for public purposes or dedicated to the City shall be provided to the
City. The title commitment shall show that all such property is or shall be, subsequent to
the execution and recording of this Agreement, free and clear of all liens and
encumbrances (other than real estate taxes which are not yet due and payable) which
would make the dedication or reservation unacceptable as the City determines in its
reasonable discretion. The City, in its sole discretion, may accept any dedication
regardless of encumbrances. The premium for the title policy evidenced by the title
commitment shall be paid by the Developer within thirty (30) days after the recording of
this Agreement, in an amount equal to the fair market value of the property so dedicated
or reserved, and the policy shall be issued by the title company as soon as practicable
thereafter.
6. Breach by the Developer; the City's Remedies. In the event of a breach of
any of the terms and conditions of this Agreement by the Developer, the City Council shall
be notified and the City may take such action as permitted and/or authorized by law, this
Agreement, or the ordinances and Charter of the City as the City deems necessary to
protect the public health, safety, and welfare; to protect lot buyers and builders; and to
protect the citizens of the City from hardship and undue risk. These remedies include,
but are not limited to:
(a) The refusal to issue any building permit or certificate of occupancy;
(b) The revocation of any building permit previously issued under which
construction directly related to such building permit has not commenced,
except a building permit previously issued to a third party,
(c) A demand that the security given for the completion of the Public
Improvements be paid or honored, or
(d) Any other remedy available at law or in equity.
Unless necessary to protect the immediate health, safety and welfare of the City or to
protect the City's interest with regard to security given for the completion of the Public
Improvements, the City shall provide the Developer thirty (30) days written notice of its
intent to take any action under this paragraph during which thirty (30) day period the
Developer may cure the breach described in the notice.
7. Installation and Phasing of Public Improvements. All storm sewer lines,
drainage structures, paved streets, curb, gutter, sidewalk, amenity zones, street and
pedestrian lighting, shared access drives, the undergrounding of all overhead utilities,
and necessary appurtenances as shown on the subdivision plat and the associated
construction documents (the "Public Improvements" or "Improvements") as approved by
the City's Director of Public Works or designee ("Director"), shall be installed and
completed at the expense of the Developer within the timeframes set forth in Section 10
of this Agreement. The Public Improvements shall specifically include:
• On the south side of W. 52nd Avenue, an 8 -foot wide detached sidewalk;
• On the west side of Tabor Street, curb, gutter, 6 -foot detached sidewalk, 6 -
foot amenity zone with furnishings, and paving to existing edge of asphalt;
• On W. 51St Avenue (from north to south), curb, gutter, 6 -foot detached
sidewalk, 6 -foot amenity zone with furnishings, and paving extending only
to the back of curb or back of flowpan on the south side; and
• On Taft Court, improvements as shown in the civil plans and any necessary
modifications to the irrigation along the east side of Taft Court between 51St
and 52nd Avenues to allow perpetual maintenance of landscaping by the
Developer or a homeowners association.
Fees in lieu of construction for the south side of W. 52nd Avenue shall be accepted by the
City for paving, curb, gutter, and amenity zone in the amount of $89,574.57, as described
in Section 12.
(a) Installation of Public Improvements will be in two phases (each, a "Phase")
as set forth in Exhibit C (the "Phasing Plan"). The Public Improvements
shall be completed according to this Phasing Plan, with only such
exceptions as approved in advance by the Director in the exercise of his or
her sole discretion.
(b) The Developer shall design and construct paved streets, street and
pedestrian lighting, and shared access drives in accordance with the
Phasing Plan and may surface the streets with asphaltic or concrete
pavement in accordance with the construction documents approved by the
Director.
(c) The itemized costs of the Public Improvements required by this Agreement
and shown on the construction documents approved by the Director are set
forth on Exhibit D. All Public Improvements covered by this Agreement
shall be made in accordance with the construction documents drawn
according to regulations and construction standards for such improvement
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and as approved by the Director. It is understood by the Parties that the
description of the Public Improvements may be general in nature, and that a
reasonable modifications of the scope, nature, costs, and similar aspects of
the Public Improvements may be necessary to secure final approval of the
Public Improvements. The quantities and locations for the Public
Improvements are based on information that was available at the time of
approval of the Final Plat. Additional Public Improvements may be required,
and Developer shall be responsible for submitting construction documents
for review of all Public Improvements and/or revisions to the Final Plat
approved by the City.
8. Warranty of Public Improvements. The Developer shall warrant any and all
Public Improvements which are conveyed to the City pursuant to this Agreement for a
period of two (2) years from the date the Director certifies that the same conforms to the
specifications approved by the City (the "Warranty Period"). Specifically, but not by way
of limitation, the Developer shall warrant the following:
(a) That the title conveyed shall be marketable and its transfer rightful;
(b) Any and all Public Improvements conveyed shall be free from any security
interest or other lien or encumbrance except as approved by the City; and
(c) Any and all Public Improvements so conveyed shall be free of defects in
materials or workmanship for a period of two (2) years beginning from the
start of the Warranty Period as stated above; and
(d) To the degree the Developer is required to install and maintain landscaping
on public or private property, it is the obligation of the Developer and its
successors and assigns, to maintain the required landscaping during the
Warranty Period and in perpetuity. This shall include the amenity zone
landscaping on all adjacent public streets: W. 52nd Avenue, Tabor Street,
W. 51St Avenue, and Taft Court.
The City will finally accept for maintenance all Public Improvements, exclusive of
landscaping materials, after the Warranty Period has expired provided all warranty work
has been completed. The City shall accept for snow removal purposes only, all dedicated
public streets after the City issues the first certificate of occupancy.
9. Observation, Inspection and Testing. The City shall have the right to require
reasonable engineering observations and testing at the Developer's expense, and shall
provide a written accounting of such expenses upon request of Developer. Observation
and testing, acquiescence in, or approval by any engineering inspector of the construction
of physical facilities at any particular time shall not constitute the approval by the City of
any portion of the construction of such Public Improvements. Such approval shall be
made by the City, only after completion of construction and in the manner hereinafter set
forth.
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(a) The Director is designated by the City to exercise authority on its behalf
under this Agreement and to see that this Agreement is performed
according to its terms. Work under this Agreement (the "Work") may, �+
without cost or claim against the City, be suspended by the Director for
substantial cause.
(b) The Director shall, within a reasonable time after presentation, make
decisions in writing on all claims of Developer and on all other matters
relating to the execution and progress of the Work or the interpretation of
this Agreement, the master plan, and Project specifications. All such
decisions of the Director shall be final.
(c) The Director shall make all determinations of amounts and quantities of
Work performed hereunder. To assist the Director in this review, the
Developer shall make available for inspection any relevant records kept by
Developer concerning such facts.
(d) The Director and the Director's authorized representatives shall have free
access to the Project at all times, and Developer shall furnish them with
means for ascertaining whether the Work being performed, or the Work
which has been completed, is in accordance with the requirements of the
Agreement.
(e) The Director will make periodic observations of construction (sometimes
commonly referred to as "supervision"). The purpose of such supervision
is to determine the progress of the Work and to see if the Work is being
performed in accordance with the plans and specifications. The Director
will in no way be responsible for how the Work is performed, safety in, on,
or about the job site, methods of performance, or timeliness in the
performance of the Work.
(f) Inspectors may be appointed to inspect materials used and Work done.
Inspections may extend to all or any part of the Work and to the preparation
or manufacture of the materials to be used. The inspectors will not be
authorized to alter the provisions of this Agreement or any specifications or
to act as foreman for Developer. The Inspector will have authority to reject
defective materials and to suspend any Work that is being done improperly,
subject to the final decision of the Director.
10. Completion of Public Improvements. The obligations of the Developer
provided for in Section 7 of this Agreement and in Exhibit C, the Phasing Plan, including
the inspections hereof, shall be performed on or before September 30, 2020, and proper
application for acceptance of the Public Improvements shall be made on or before such
date. Upon completion of construction by the Developer of such Improvements, the
Director, shall inspect the Improvements and certify with specificity its conformity or lack
thereof to the City's specifications (the "City's Certification"). The Developer shall make
all corrections necessary to bring the Improvements into conformity with the City's
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specifications. Once approved by the Director, the City shall accept said Improvements
upon conveyance; provided, however, the City shall not be obligated to accept the Public
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Improvements until the financial obligations described in this Agreement are paid in full
by the Developer.
11. City Reimbursement to Developer for Infrastructure. The Parties agree to
share in infrastructure costs for various Public Improvements as set forth in Section 2.0
of Exhibit D in the approximate amount of $356,000 and as provided in this Section 11.
The total amount of the City's reimbursement to Developer shall not exceed $243,100.00
(the "Reimbursement Amount") to reflect the estimated construction costs of such Public
Utilities, as noted in the Total Cost Estimate on Exhibit D. Prior to the Developer's
commencement of construction on such Public Utilities, the City shall set aside the
Reimbursement Amount in a separate account. The Developer shall provide invoices for
the work and evidence that the Developer has paid the contractor(s) the invoice amounts
for the work prior to reimbursement. The City shall make payment to the Developer for
the costs within thirty (30) days of its review and approval of the request for
reimbursement from the Developer provided however that the City shall use its best
efforts to review and approve the request as soon as possible upon receipt and shall not
unreasonably delay its review and approval.
12. Fee -in -Lieu of Construction for W. 52nd Avenue. The Developer is
responsible only for the construction of an 8 -foot detached sidewalk on the south side of
W. 52nd Avenue. Fees in lieu of construction shall be accepted by the City for street
paving, curb, gutter, and the amenity zone landscape and furnishings in the amount of
$89,574.57, as set forth in Section 3.0 in Exhibit D. Fee shall be paid upon issuance of
the first building permit.
13. Deferred Installation of Landscaping and Financial Guarantee. If a
Certificate of Occupancy (CO) is requested prior to completion of landscaping and
irrigation based on said CO request being made outside of normal planting season, an
irrevocable letter of credit, cash, or an escrow account shall be accepted for the
completion of necessary landscaping and irrigation. Said financial guarantee shall be in
the amount of one hundred and twenty five percent (125%) of the cost of installation of
such landscaping and irrigation. Letters of credit or escrows shall not be released until
all planting and finish materials shown on the approved landscape plan within a specific
Phase are installed and accepted and the irrigation is installed and functional. The
amount of the escrow or letter of credit shall be based on the itemized cost estimate for
required landscaping and irrigation set forth in Exhibit D. Should the required landscaping
not be properly installed upon the expiration of the letter of credit or escrow account, the
City reserves the right to use such funds to have the required landscaping placed upon
the subject premises. Any costs reasonably incurred by the City in excess of the funds
provided by the letter of credit or escrow shall be recovered by the City through normal
lien proceedings.
14. Protection. Developer, at its expense, shall continuously maintain adequate
protection of all Improvements from damage prior to acceptance by the City and shall
protect the City's property from injury and loss arising in connection with this Agreement.
Developer shall make good any such damage, injury or loss except such as may be
caused directly by authorized agents or employees of the City. Developer shall y
adequately protect adjacent property and shall provide and maintain all passageways,
guard fences, lights, and other facilities for protection required by public authority or local
conditions.
(a) Developer shall be responsible for damage to any public and private
property on and adjacent to the site of Developer's Improvements caused
by negligent or willful acts of Developer, its agents or subcontractors.
Developer shall take all reasonable effort necessary to prevent damage to
pipes, conduits, and other underground structures and to overhead wires,
and to water quality. Developer shall protect carefully from disturbance or
damage all land monuments and property marks until an authorized agent
of the City has witnessed or otherwise referenced their location, and shall
not remove them until directed. When any direct or indirect damage or
injury is done to public or private property by or on account of any act,
omission, neglect, or misconduct in the construction of Improvements, or in
consequence of the non -execution thereof on his part, such damaged
property shall be restored by Developer at its own expense to a condition
similar or equal to that existing before such damage or injury.
(b) Developer shall at all times, whether or not so specifically directed by the
Director, take necessary precautions to insure the protection of the public.
Developer shall furnish, erect, and maintain, at its own expense, all
necessary barricades, suitable and sufficient red lights, construction signs,
provide a sufficient number of watchmen, and take all necessary
precautions for the protection of the work and safety of the public through
or around the Property's construction operations as Developer and the
Director shall deem reasonably necessary.
15. Related Costs - Public Improvements. The Developer shall provide all
necessary engineering designs, surveys, field surveys, testing and incidental services
related to the construction of the Public Improvements at its sole cost and expense,
including final drainage study letter certified accurate by a professional engineer
registered in the State of Colorado.
16. Improvements to be the Property of the City. All Public Improvements for
roads, concrete curb and gutters, public storm sewers, and public drainage improvements
accepted by the City shall be dedicated to the City and warranted for a period of two (2)
years following acceptance by the City, as provided above.
17. Performance Guarantee for Public Improvements. In order to secure the
construction and installation of the Public Improvements the Developer shall, within ninety
(90) days after the execution of this Agreement, furnish the City, at the Developer's
expense, with the Performance Guarantee described herein.
(a) The Performance Guarantee provided by the Developer shall be in the form
of an irrevocable letter of credit, cash, or an escrow account, in which the
City is designated as beneficiary, for one hundred twenty-five percent
(125%) of the estimated costs of the Public Improvements to be constructed
by the Developer and installed as set forth in Exhibit D if applicable to
secure the performance and completion of the Public Improvements as
required by Section 26-418, Security for Required Improvements, of the
Wheat Ridge Subdivision Regulations.
(b) The Developer agrees that approval of this Agreement by the City is
contingent upon the Developer's provision of an irrevocable letter of credit
to the City within ninety (90) days of the execution of this Agreement in the
amount and form provided herein. Failure of the Developer to provide an
irrevocable letter of credit to the City in the manner provided herein shall
constitute a material breach of this Agreement. Letters of credit shall be
substantially in the form and content set forth in Exhibit E, if applicable, and
shall be subject to the review and approval of the City Attorney.
(c) The Developer shall not start any construction of any public or private
improvement on the Property including, but not limited to, staking,
earthwork, overlot grading, or the erection of any structure, temporary or
otherwise, until the City has received and approved the irrevocable letter of
credit. Upon receipt of the irrevocable letter of credit, right-of-way permits
maybe issued. Building permits for vertical construction may also be issued
if adequate fire access has been provided. Notwithstanding the foregoing,
the Developer may obtain the appropriate permits and commence
demolition and/or remediation of the Property prior to the City's receipt and
approval of the irrevocable letter of credit.
(d) The estimated costs of the Public Improvements shall be a figure mutually
agreed upon by the Developer and the Director, as set forth in Exhibit D if
applicable. If, however, they are unable to agree, the Director's estimate
shall govern after giving consideration to information provided by the
Developer including, but not limited to, construction contracts and
engineering estimates. The purpose of the cost estimate is solely to
determine the amount of security. No representations are made as to the
accuracy of these estimates, and the Developer agrees to pay the actual
costs of all such Public Improvements.
(e) The estimated costs of the Public Improvements may increase in the future.
Accordingly, the City reserves the right to review and adjust the cost
estimate on an annual basis. If the City adjusts the cost estimate for the
Public Improvements, the City shall give written notice to the Developer.
The Developer shall, within thirty (30) days after receipt of said written
notice, provide the City with a new or amended letter of credit in the amount
of the adjusted cost estimates. If the Developer refuses or fails to so provide
the City with a new or amended letter of credit, the City may exercise the
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remedies provided for in this Agreement; provided, however, that prior to
increasing the amount of additional security required, the City shall give"
credit to the Developer for all required Public Improvements which have
actually been completed so that the amount of security required at all time
shall relate to the cost of required Public Improvements not yet constructed.
(f) In the event the Public Improvements are not constructed or completed
within the period of time specified by Section 10 of this Agreement or a
written extension of time mutually agreed upon by the Parties to this
Agreement, the City may draw on the letter of credit to complete the Public
Improvements called for in this Agreement. In the event the letter of credit
is to expire within fourteen (14) calendar days and the Developer has not
yet provided a satisfactory replacement, the City may draw on the letter of
credit and either hold such funds as security for performance of this
Agreement or spend such funds to finish Public Improvements or correct
problems with the Public Improvements as the City deems appropriate.
(g) Upon completion of performance of such improvements, conditions and
requirements within the required time, the Developer shall issue an
irrevocable letter of credit to the City in the amount of twenty-five percent
(25%) of the total cost of construction and installation of the Public
Improvements (including the cost of landscaping), to be held by the City
during the Warranty Period as a replacement for the Completion Guarantee
referenced above, which shall be released upon initial completion of the
improvements and commencement of the Warranty Period. If the Public
Improvements are not completed within the required time, the monies may
be used to complete the improvements. If the Public Improvements require
repair or replacement during the Warranty Period and the Developer fails to
complete said repairs or replacement prior to the end of the Warranty
Period, the City may draw on the letter of credit to make required repairs or
replacements to the Improvements.
(h) As further assurance that no individual lot is sold prior to completion of
Public Improvements and other on-site horizontal infrastructure necessary
to yield developable property, a Declaration of Covenant and Restriction,
dated t&i , 2. o i S , has been recorded with the Jefferson
County Clerk and Recorder under reception number
°dot 6, OF -,,,-1
18. Indemnification. The Developer shall indemnify and hold harmless the City
and its officers, employees, agents, or servants from any and all suits, actions, and claims
of every nature and description caused by, arising from or on account of any act or
omission of the Developer, or of any other person or entity for whose act or omission the
Developer is liable, with respect to the Public Improvements; and the Developer shall pay
any and all judgments rendered against the City as a result of any suit, action, or claim,
together with all reasonable expenses and attorney's fees and costs incurred by the City
in defending any such suit, action or claim provided such suit, action, or claim arose during
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Developer's ownership of the Public Improvements. The Developer shall pay all property
taxes due on any portion of the Property to be dedicated to the City and shall indemnify
and hold harmless the City for any property tax liability in connection therewith.
19. Waiver of Defects. In executing this Agreement, the Developer waives all
objections it may have concerning defects, if any, in the formalities whereby it is executed,
or concerning the power of the City to impose conditions on the Developer as set forth
herein, and concerning the procedure, substance, and form of the ordinances or
resolutions adopting this Agreement.
20. Third Party Beneficiaries. There are and shall be no third party beneficiaries
to this Agreement.
21. Modifications. This instrument embodies the whole agreement of the
Parties. There are no promises, terms, conditions, or obligations other than those
contained herein; and this Agreement shall supersede all previous communications,
representations, or agreements, either verbal or written, between the Parties. There shall
be no modification of this Agreement except in writing, executed with the same formalities
as this instrument. Subject to the conditions precedent herein, this Agreement may be
enforced in any court of competent jurisdiction.
22. Release of Liability. It is expressly understood that the City cannot be
legally bound by the representations of any of its agents or their designees except in
accordance with the City of Wheat Ridge Code of Ordinances and the laws of the State
of Colorado.
23. Captions. The captions to this Agreement are inserted only for the purpose
of convenient reference and in no way define, limit, or prescribe the scope or intent of this
Agreement or any part thereof.
24. Binding Effect. This Agreement shall be binding upon and inure to the
benefit of the Parties hereto and their respective heirs, successors, and assigns as the
case may be.
25. No Waiver. No waiver of any of the provisions of this Agreement shall be
deemed or constitute a waiver of any other provisions herein, nor shall such waiver
constitute a continuing waiver unless otherwise expressly provided, nor shall the waiver
of any default hereunder be deemed a waiver of any subsequent default hereunder.
26. Invalid Provision. If any provision of this Agreement shall be determined to
be void by any court of competent jurisdiction, then such determination shall not affect
any other provision hereof, all of the other provisions shall remain in full force and effect.
It is the intention of the Parties that if any provision of this Agreement is capable of two
constructions, one of which would render the provision void, and the other which would
render the provision valid, then the provision shall have the meaning which renders it
valid.
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27. Governing Law. The laws of the State of Colorado shall govern the validity,
performance and enforcement of this Agreement. Should either party institute legal suit I
or action for enforcement of any obligation contained herein, venue of such suit or action i
shall be in Jefferson County, Colorado.
28. Attorneys Fees. Should this Agreement become the subject of litigation to
resolve a dispute over the interpretation of this Agreement or either party's rights or
obligations hereunder, the prevailing party will receive reimbursement from the non -
prevailing party of the prevailing party's reasonable attorneys fees and costs.
29. Notice. All notices required under this Agreement shall be in writing and
shall be hand delivered or sent by registered or certified mail, return receipt requested,
postage prepaid, to the addresses of the Parties herein set forth. All notices so given
shall be considered effective seventy-two (72) hours after deposit in the United States
mail with the proper address as set forth below. Either Party by notice so given may
change the address to which future notices shall be sent.
Notice to Developer: Hance Ranch Station, LLC
5740 Olde Wadsworth
Arvada, CO 80002
Notice to City: Director of Public Works
7500 West 29th Avenue
Wheat Ridge, CO 80033
City Attorney
7500 West 29th Avenue
Wheat Ridge, CO 80033
30. Force Majeure. Whenever the Developer is required to complete the
construction, repair, or replacement of Public Improvements by an agreed deadline, the
Developer shall be entitled to an extension of time equal to a delay in completing the
foregoing due to unforeseeable causes beyond the control and without the fault or
negligence of the Developer including, but not restricted to, acts of God, weather, fires
and strikes.
31. Assignment or Assignments. There shall be no transfer or assignment of
any of the rights or obligations of the Developer under this Agreement without the prior
written approval of the City.
32. Recording of Agreement. This Agreement shall be recorded in the real
estate records of Jefferson County and shall be a covenant running with the Property in
order to put prospective purchases or other interested parties on notice as to the terms
and provisions hereof.
33. Title and Authority. The Developer expressly warrants and represents to
the City that it is the record owner of the property constituting the Property and further
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represents and warrants, together with the undersigned individual(s) that the undersigned
individual(s) has or have full power and authority to enter into this Subdivision
Improvement Agreement. The Developer and the undersigned individual(s) understand
that the City is relying on such representations and warranties in entering into this
Agreement.
WHEREFORE, the Parties hereto have executed this Agreement on the day and
year first above written.
[Remainder of Page Intentionally Left Blank]
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CITY OF WHEAT RIDGE, COLORADO
B:
Y 1�01?xt;111�
Bud Starker, Mayor
ATTEST:
O
0 EAL
AP rtOV AS TO FO . - i
Gerald Dahl, City Attorney
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DEVELOPER
HANCE RANCH STATION, LLC, a Colorado
limited liability company
By:
Name:
Title:
STATE OF COLORADO )
SS.
COUNTY OF )
The foregoing instrument was acknowledged before me this ' day of
�`•� by as
of Hance Ranch Station, LLC, a Colorado limited liability
company.
(SEAL)
Witness my hand and official seal
My commission expires: C 2-1 I
M
CAROLYN PAYNE
otary Public — State of Colorado
20174026918
y Commission Expires Jun 27, 2021
Notary -Public
EXHIBIT A
Legal Description of Developer Property
HANCE'S SUBDIVISION REPLAT NO. 2, COUNTY OF JEFFERSON, STATE OF
COLORADO
15
EXHIBIT B
Final Plat
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EXHIBIT C
l
Phasing Plan for Public and On -Site Improvements
The public and on-site improvements for the property shall be installed in two (2)
Phases as outlined below and as illustrated in the attached phasing plan.
• The Developer shall complete the Public Improvements within each Phase as set
forth in the Phasing Plan prior to the issuance of the first Certificate of
Occupancy for a unit or building within that same Phase, with only such
exceptions as shall be approved in advance by the Director in the exercise of his
or her sole discretion.
• Notwithstanding the foregoing, City hereby agrees to issue building permits for
any buildings abutting the public right-of-way along West 52nd Street and Tabor
Street prior to the completion of Public Improvements within the applicable
Phase.
• Prior to issuance of any Certificate of Occupancy for a unit or building, the
internal private concrete drives and sidewalks serving that unit or building shall
be completed.
• The Developer may surface the streets with asphaltic or concrete pavement in
accordance with the geotechnical report to a full section and full grade prior to
initial acceptance of any Phase.
• Improvements within Tract B shall be phased as follows:
o The drainage channel within Tract B shall be completed during Phase 1,
along with the completion of other drainage improvements.
o Prior to issuance of any Certificate of Occupancy for lots within Blocks 3 or
4, adjacent sidewalks shall be completed providing a continuous
connection to the alley or street.
o Prior to the issuance of the final Certificate of Occupancy among Blocks 3
or 4, all sidewalks and final landscaping shall be completed.
• The public right-of-way landscape improvements in Phase 1 will be completed
prior to acceptance of the Phase 1 Public Improvements by the City.
• The public right-of-way landscape improvements in Phase 2 will be completed
prior to acceptance of the Phase 2 Public Improvements by the City.
• Prior to issuance of any Certificate of Occupancy, the adjacent on-site
improvements shall be complete including sidewalk, alley, and landscaping.
Exception to the above requirements:
• Installation of landscaping, street trees, and irrigation is not required prior to
Certificate of Occupancy if issuance of the C.O. occurs outside of the planting
season, generally October to June. Refer to Section 13 of the Subdivision
Improvement Agreement.
17
EXHIBIT D
Cost Estimate for Public Improvements
(see attached)
fiE
CITY OF VMEAT RIDGE
PUBLIC MRKS APPROVED
DATE 09119/2018 By Dave Brossman at 3:44 pm, Sep19, 2018
RECEIVED 09/1912418
EXHIBIT D
5th Submittal
r r .._.
ENGINEER'S ESTIMATE OF PUBLIC IMPROVEMENT CONSTRUCTION COSTS
HANCE RANCH LOT 9 (TOWNHOMES)
9/19/2018
1.0 PUBLIC STREETS SUBJECT TO LETTER OF CREDIT (North Half 51st, 52nd, Taft Ct. and Tabor Street)
Item No: Description:
Unit I
Quantity
I
Unit Cost
I Amount
1
Traffic Control
LS
1
$
5,000.00
$ 5,000.00
2
Road Subgrade 3' Over Excavation
SY
3275
$
6.00
$ 19,650.00
3
Road Subgrade Preparation (Fine Grade)
SY
3275
$
11.50
$ 37,662.50
4
6" Full -Depth Asphalt (52nd Avenue, Tabor Street) 146.67lb/cf
TON
190
$
100.00
$ 19,000.00
5
6" HMA Over Compacted Subgrade (51st Avenue)
TON
358
$
100.00
$ 35,800.00
6
6" Vertical Curb & 2' Gutter
LF
1000
$
27.71
$ 27,710.00
7
8' Detached Sidewalk
SY
444
$
50.00
$ 22,200.00
8
6' Detached Sidewalk
SY
600
$
50.00
$ 30,000.00
9
Handicap Ramp
EA
5
$
2,085.00
$ 10,425.00
10
6" Concrete On -Street Parking Area
SY
115
$
52.00
$ 5,980.00
11
City Bench and Trash Receptacle on Conc. Pad
EA
4
$
1,100.00
$ 4,400.00
12
PEDESTRIAN LIGHT CONCRETE BASE
EA
6
$
1,200.00
$ 7,200.00
13
20' Residential Light Pole, and Luminaire
EA
6
$
7,640.00
$ 45,840.00
14
Electrical Conduit
LF
255
$
20.00
$ 5,100.00
15
ELECTRIACAL PULL BOX
EA
6
$
900.00
$ 5,400.00
16
Irrigation
SF
4500
$
1.00
$ 4,500.00
17
Irrigated Turf
SF
4500
$
2.00
$ 9,000.00
18
Street Trees
EA
20
$
450.00
$ 9,000.00
Subtotali $
CONTIGENCY (25%) = $
Total $
303,867.50
75,966.88
379,834.38
2.0 PUBLIC UTILITIES ELIGIBLE FOR REIMBURSEMENT
Item No: Description:
Unit
Quantity
Unit Cost
Amount
19
Buried Overhead Electric
LF
680
$
50.00
$ 34,000.00
20
PEDESTRIAN LIGHT CONCRETE BASE
EA
10
$
1,200.00
$ 12,000.00
21
15' Pedestrian Light Pole, and Luminaire
EA
10
$
2,500.00
$ 25,000.00
22
Electrical Conduit
LF
425
$
20.00
$ 8,500.00
23
ELECTRIACAL PULL BOX
EA
10
$
900.00
$ 9,000.00
24
18 -inch RCP
LF
40
$
80.00
$ 3,200.00
25
18 -inch FESw/trash rack
EA
1
$
1,200.00
$ 1,200.00
26
36 -inch RCP
LF
880
$
135.00
$ 118,800.00
27
Standard Type 13 Inlet
EA
3
$
5,400.00
$ 16,200.00
28
5' Diameter Manhole
EA
3
$
4,500.00
$ 13,500.00
29
Type (L/M) Rip -Rap
CY
10
$
50.00
$ 500.00
30
lConnection to Existing Structure
EA
1
$
1,200.00
$ 1,200.00
Total $
243,100.00
3.0 FEES IN LIEU (52nd)
Item No: Description: I
Unit I
Quantity
Unit Cost
I Amount
31
Traffic Control
LS
1
$
5,000.00
$ 5,000.00
32
Road Subgrade 3' Over Excavation
SY
667
$
6.00
$ 4,002.00
33
Road Subgrade Preparation (Fine Grade)
SY
667
$
27.71
$ 18,482.57
34
6" Full -Depth Asphalt (52nd Avenue, Tabor Street) 146.67lb/cf
TON
190
$
100.00
$ 19,000.00
35
6" Vertical Curb & 2' Gutter
LF
500
$
15.00
$ 7,500.00
36
Handicap Ramp
EA
2
$
2,085.00
$ 4,170.00
37
City Bench and Trash Receptacle on Conc. Pad
EA
2
$
1,100.00
$ 2,200.00
38
PEDESTRIAN LIGHT CONCRETE BASE
EA
3
$
1,200.00
$ 3,600.00
39
ELECTRIACAL PULL BOX
EA
3
$
900.00
$ 2,700.00
40
20' Residential Light Pole, and Luminaire
EA
3
$
7,640.00
$ 22,920.00
Subtotal
$ 89,574.57
ENGINEER'S ESTIMATE OF PUBLIC IMPROVEMENT CONSTRUCTION COSTS
HANCE RANCH LOT 1 (TOWNHOMES)
1.0 PUBLIC STREETS SUBJECT TO LETTER OF CREDIT (North Half 51st, 52nd, Taft Ct. and Tabor Street) $ 379,834.38
2.0 PUBLIC UTILITIES ELIGIBLE FOR REIMBURSEMENT $ 243,100.00
3.0 FEES IN LIEU (52nd) $ 89,574.57
TOTAL COST ESTIMATE= $ 712,508.95
HANCE RANCH
EXHIBIT E
Letter of Credit Template
(see attached)
19
(Indicates User Defined Data)
(Bank Letterhead)
LETTER OF CREDIT # (L.O.C. #)
BENEFICIARY: The City of Wheat Ridge
ADDRESS: 7500 West 29t' Avenue, Wheat Ridge, CO 80033
DATE: (Date of Issue)
EXPIRY DATE: (Exp. Date)
IRREVOCABLE STANDBY LETTER OF CREDIT
For: (Developer's Name)
(Developer's Address)
Gentlemen:
We hereby open our IRREVOCABLE STANDBY LETTER OF CREDIT in your favor available by
your drafts drawn on (Bank Name, and Address) for any sum or sums not to exceed in total (Amount
of L.O.C.). We hereby authorize you to draw on us for the account of (Developer's Name) up to an
aggregate amount of (Amount of L.O.C.) (125% engineer's estimated cost of improvements) available
by your drafts at sight accompanied by your signed statement that the above is: 1) drawn in payment
of street improvements including, but not limited to, curb, gutter, sidewalk, asphalt patching, street
paving, and other street improvements shown on the final plat and associated construction documents
for The Corners at Wheat Ridge (the "Project"), and/or 2) drawn in payment of storm drainage
improvements including, but not limited to, detention pond grading, detention pond outlet structure(s),
storm sewer system, and other drainage facilities shown on the final plat and associated construction
documents for the Project.
Drafts must be accompanied by 1) a sight draft; 2) aligned statement by an authorized representative
of the Beneficiary stating as follows: "We hereby certify that the amount of our draft represents funds
owed to the City of Wheat Ridge for payment obligations pursuant to the conditions stated above,
between (Developer's Name) and the City of Wheat Ridge." 3) This original Letter of Credit.
Each draft must bear upon its face a clause "Drawn under Letter of Credit No. (L.O.C. #) dated (Date
of Issue).
This IRREVOCABLE STANDBY LETTER OF CREDIT is not transferable.
We hereby agree with you that drafts drawn under and in compliance with the terms of the Letter of
Credit will be duly honored if presented to the above mentioned drawee Bank on or before (Exp.
Date).
Except as otherwise expressly stated herein, this Letter of Credit and all negotiations
hereunder are subject to all applicable provisions of Uniform Customs and Practices for
Documentary Credits, 2007 Revision, International Chamber of Commerce Publication No.
600.
Sincerely,
(BANK NAME)
(Name and Title of Bank Officer)
DEN -132644-2