HomeMy WebLinkAboutAxis 70 WestAXIS 70 WEST SUBDIVISION IMPROVEMENT AGREEMENT
SUBDIVISION IMPROVEMENT AGREEMENT
THIS AGREEMENT made this , of Me- , �c)� (the
"Effective Date") by and between the CITY OF WHEAT RIDGE, COLORADO, a home
rule municipal corporation (the "City"), and INDUSTRIAL PARTNERS QUALIFIED
OPPORTUNITY FUND LLLP, (the "Developer"), together referred to as the "Parties."
RECITALS
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"), commonly known as Axis 70 West.
B. On December 28 , 4020the Community Development Director of
the City of Wheat Ridge administratively approved the final plat for the Property titled Axis
70 West Subdivision Filing No. 1 (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 the terms,
conditions, 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.
2. Related City Agreements and Approvals. The Property is subject to that
certain Outline Development Plan and Specific Development Plan for the Project titled
Axis 70 West Planned Industrial Development recorded with the Jefferson County Clerk
and Recorder under reception numbers acat oq,62 D and • caA aq i 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 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.
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JEFFERSON COUNTY, Colorado
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.
4. Reserved. Q
5. Titles. 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. An updated title commitment shall be
provided 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.
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 immediately 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 day period the
Developer may cure the breach described in the notice.
7. Installation and Phasing of Public and On -Site 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 Community Development Director or designee ("Director'), shall
be installed and completed at the expense of the Developer within the timeframes set
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forth in Section 11 of this Agreement and as outlined in Exhibit C, with only such
exceptions as shall be approved in advance by the Director in the exercise of his or her
sole discretion. The Public Improvements shall specifically include:
• Drainage improvements, including Bayou Ditch and Arvada Channel ditch piping
work as shown in the approved civil construction plans;
• Curb, gutter, and a five-foot attached sidewalk on the east side of Parfet Street,
and paving extending to the back of curb;
• Curb, gutter, and a five-foot attached sidewalk on the west side of Oak Street,
and paving extending to the back of curb;
• Improvements associated with the extension of W. 50th Avenue, including a 6'
wide detached sidewalk with 6' amenity zone and furnishings, 2.5' vertical curb
and gutter along the south, 16' of 9" thick asphalt pavement extending from the
approximate roadway centerline to back of curb; and
• Construction of streetlight and pedestrian lighting along the Parfet Street, Oak
Street, and West 50th Avenue frontages as shown on the approved civil
construction plans.
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 Section 1.0. 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 and approved by the Director. It is
understood by the Parties that the description of the Public Improvements may be
general in nature, and that 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; 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 as stated above;
and
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(d) To the degree the Developer is required to install and maintain
landscaping on public or private property, it is the obligation of Developer
and its successors and assigns, to maintain the required landscaping in
perpetuity.
The City will finally accept for maintenance all Public Improvements, exclusive of
landscaping materials, after the two-year 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. Reserved.
10. Observation. Inspection and Testing. The City shall have the right to
require reasonable engineering observations and testing at the Developer's expense.
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.
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 may, without cost or claim against the City, be suspended
by the Director for substantial cause.
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
specifications. All such decisions of the Director shall be final.
The Director shall make all determinations of amounts and quantities of work
performed hereunder. To assist him in this work Developer shall make available for
inspection any records kept by Developer.
The Director and his authorized representatives shall have free access to the
work at all times, and Developer shall furnish them with facilities for ascertaining
whether the work being performed, or the work which has been completed, is in
accordance with the requirements of the Agreement.
The Director will make periodic observations of construction (sometimes
commonly referred to as "supervision"). The purpose of these observations and
construction checking is to determine the progress of the work and to see if the work is
being performed in accordance with the plans and specifications. He 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.
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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.
11. Completion of Public Improvements. The obligations of the Developer
provided for in Section 7 of this Agreement and Exhibits C and D, including the
inspections hereof, shall be performed on or before December 1, 2022, 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 Developer shall make all corrections necessary
to bring the Improvements into conformity with the City's 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 Improvements until the
actual costs described in this Agreement are paid in full by the Developer.
12. Deferred Installation of Landscaping and Financial Guarantee. If a
Certificate of Occupancy is requested prior to completion of landscaping and irrigation,
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. Escrows shall not be released until all
planting and finish materials shown on the approved landscape plan are installed and
accepted and the irrigation is installed and functional. The amount of the escrow shall
be based on the City' standard itemized cost for required landscaping and irrigation.
The itemized cost for required landscaping and irrigation shall be accepted at the
discretion of the Community Development Director prior to acceptance of the escrow
account. Should the required landscaping not be properly installed upon the expiration
of the 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 escrow shall be recovered by the City
through normal lien proceedings.
13. 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 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.
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
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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.
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.
14. 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.
15. 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 twenty-four (24) months following acceptance by the City, as provided above.
16. Performance Guarantee for Public Imgrovements. 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.
The Performance Guarantee provided by the Developer shall be in the form of an
irrevocable letter of credit 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 and installed as set forth in Exhibit D Section 1.0, 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.
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 negate the City's approval 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. The Developer
may obtain the appropriate permits and commence demolition and/or remediation of the
Property and may obtain a sitework permit for importation of fill material and also to
complete improvements to the Bayou Irrigation Ditch, Arvada Channel and on-site
detention.. The Developer shall not start construction of any other public or private
improvements on the Property until the City has approved all civil engineering
documents and received and approved the irrevocable letter of credit. A building permit
for the structure shall be required for all other private and public improvements as
outlined in Sections 1 and 2 of Exhibit 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 Section 1.0
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.
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
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.
In the event the Public Improvements are not constructed or completed within the
period of time specified by Section 11 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.
Upon completion of performance of such improvements, conditions and
requirements within the required time, the Developer shall issue an irrevocable letter of
a
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. 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.
17. 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 this
Agreement 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.
The Developer shall pay all property taxes due on any portion of the Property
dedicated to the City and shall indemnify and hold harmless the City for any property tax
liability in connection therewith.
18. 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.
19. Third Party Beneficiaries. There are and shall be no third party
beneficiaries to this Agreement.
20. 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.
21. 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.
22. Cactions. 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.
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23. 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.
24. 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.
25. 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.
26. Governinci Law. The laws of the State of Colorado shall govern the
validity, performance and enforcement of this Agreement. Should either party institute
legal suit or action for enforcement of any obligation contained herein, venue of such
suit or action shall be in Jefferson County, Colorado.
27. Attorneys Fees. Should this Agreement become the subject of litigation to
resolve a claim of default of performance or payment by the Developer and a court of
competent jurisdiction finds in favor of the City, the Developer shall pay the City's
attorney's fees and court costs.
28. 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: W;-� k
y22� (3r�cln�an i31ur�
Notice to City: Community Development Director
7500 West 29th Avenue
Wheat Ridge, CO 80033
City Attorney
7500 West 29th Avenue
Wheat Ridge, CO 80033
29. Force Weure. 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.
30. 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.
31. 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.
32. 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
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]
10
CITY OF WHEAT RIDGE, COLORADO
I�
B It
V �2��
Bud Starker, Mayor
James Stephen Kirkpatrick, City Clerk
11
DEVELOPER
Industrial Partners Qualified Opportunity Fund
LLLP, a Colorado limited liability limited
partnership
By:
Name: Matt Mitchell
Title: Vice President
STATE OF COLORADO )
SS.
COUNTY OF - )
The foregoing instrument was acknowledged before me this ' - day of
0LWrOA- , 20 Z. t , by M04+ GA& -t I ( —,as
of 0 wy�, �-L LP
Witness my hand and official seal.
My commission expires: �" "� to ( 7_62 �(
Notary Public
KELLI JENKINS
(SEAL) NOTARY PUBLIC
STATE OF COLORADO
NOTARY ID 20044044303
MY COMMISSION EXPIRES DECEMBER 10, 2024
12
EXHIBIT A
Legal Description of Developer Property
AXIS 70 WEST SUBDIVISION FILING NO. 1, COUNTY OF JEFFERSON, STATE OF 1�
COLORADO
13
EXHIBIT B
Final Plat
(see attached)
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EXHIBIT C
Phasing Plan for Public Improvements
The public and on-site improvements for the property shall be installed in One phase as 1�
outlined below:
• Site work permit for importation of fill material may be issued upon approval of
civil engineering plans and receipt of irrevocable letter of credit.
• Bayou Irrigation Ditch, Arvada Channel and on-site detention improvements may
commence as part of the site work permit scope of work upon approval of civil
engineering plans, proof of approval to commence by Bayou Ditch Company,
and posting of appropriate bond. The site work permit shall not be issued until a
recommendation of approval is received from Planning Commission for the ODP
and SDP.
• Retaining wall permits may be issued upon approval of retaining wall plans and
issuance of a building permit.
• Prior to issuance of any site work permit, right-of-way permit, or vertical building
permit the irrevocable letter of credit shall be submitted to the City.
• Prior to issuance of building permit the following fees associated with that permit
shall be paid:
o City of Wheat Ridge building use tax
o Building permit and plan review fees
• Prior to issuance of Certificate of Occupancy, the following shall be completed
and accepted by the City:
o Drainage improvements, including Bayou Ditch and Arvada Channel ditch
piping work as shown in the approved civil plans;
o Parfet Street improvements, including curb/gutter, sidewalks, asphalt,
traffic signs, street lights and pedestrian lights, as applicable, per the
approved civil plans and Exhibit C.1;
o Oak Street improvements, including curb/gutter, sidewalks, asphalt, and
street lights and pedestrian lights, as applicable, per the approved civil
plans and Exhibit C.2;
0 50th Avenue extension, including curb/gutter, sidewalks, asphalt,
landscaping, irrigation, traffic signs and pavement markings, street lights
and pedestrian lights, as applicable, per the approved civil plans and
Exhibit C.3;
o Adjacent on-site improvements shall be complete including sidewalks,
drives, parking lot, yard inlets, and associated piping, lighting,
landscaping, and all utilities shall be installed per the approved civil plans.
o Upon completion of on- or off-site drainage improvements, the engineer -of -
record shall provide to the city a letter of certification stating that the various
improvements as defined in the approved final drainage report and plan and
approved civil construction plans have been accurately surveyed to confirm
their construction is in accordance with these documents. The letter of
15
certification shall be written and stamped by the registered engineer -of -
record and be accompanied by as -built plans in support of the statement(s)
made in the letter. The letter and as-builts shall be submitted for review and
approval by the city.
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 12 of the Subdivision
Improvement Agreement.
[Remainder of Page Intentionally Left Blank]
2:
EXHIBIT C- OAK;
SEE BELO
I LD II
I�
50TH AVENUE I ■
i I
II
I II
a L14 `�
♦ I: I
■ ,
PR. 18.5 � ROW � 'EX. 40' ROW � � PR. 18.5 ROW L
'TREET IMPROVEMENTS
W LEFT
SEE BELOW MIDDLE
�G
1 I
,
i
4 4
,•. �, ,
I
; II
o�
PR. 18.5' ROW
SEX.
40' ROW -}
- EX. 40' ROW
R
i
1'
it
KEYNOTES:
O
VERTICAL CURB AND GUTTER W/2' PAN
0
VERTICAL CURB AND GUTTER W/ 2' PAN AND 5' WALK
I
O8
6' WALK
Ii
(D
LIGHTING
O
CROSS PAN
I
O6
I
CURB RAMP
PROPOSED PAVEMENT (COMPOSITE SECTION OF 6' HMA 8. 10" OF
UNBOUND GRANULAR BASE) PER GEOTECHNICAL RECOMMENDATIONS
SEE ABOVE MIDDLE SEE ABOVE RIGHT
p - 18.50' ADDITIONAL ROW -
rc
rc
a
+I W
I
2' UTIL. 5' WALK
ZONE 2%
L
HRGreen
PR. VERTICAL
CURB AND
GUTTER
40.00' FL -FL
x16' ADDITIONAL PAVEMENT -
CONTROL LINE —
2%
HRGreen.com
OAK STREET
SCALE: 1- = 10'
OAK STREET
EXHIBIT
AXIS 70 WEST
PROPOSED SIDEWALK
24• SAWCUT AND PATCHBACK
rL
6
NORTH
0 60
I�
30
SHEET
C
SCALE: 1" = 60'
DATE: 10/21/20
EXHIBIT C - 50TH AVENUE IMPROVEMENTS
-
-
_ LLI
LU
HRGreen
KEYNOTES:
1O VERTICAL CURB AND GUTTER W/ 2' PAN
O VERTICAL CURB AND GUTTER W/ 2' PAN AND 5' WALK
3O 6' WALK
O LIGHTING
O CROSS PAN
O CURBRAMP
PROPOSED PAVEMENT (COMPOSITE SECTION OF 6" HMA 8 11" OF
UNBOUND GRANULAR BASE) PER GEOTECHNICAL RECOMMENDATIONS
PROPOSED SIDEWALK
a24" SAWCUT AND PATCHBACK
S CL N
40' ROW DEDICATION- -
L-- 16' PAVEMENT
- 16'
6' 2'_ CONTROL LINE
SCAPE`I
2% 2%
PR. VERTICAL'-''-
\��
CURB AND
`GUTTER
HRGreen.com
50TH AVENUE
SCALE: 1"= 10'
50TH AVENUE
EXHIBIT
AXIS 70 WEST
EXISTING GRADE
Jo I
NORTH
0 60
30
SHEET
C
SCALE: 1" = 60'
DATE: 10/21/20
P
EXHIBIT C - PARFET STREET IMPROVEMENTS
SEE BELOW LEFT SEE BELOW MIDDLE
= f
c
=� 2
6
wK
D
-
I _ 2 o
`f
6 -
_ ■ F D'f
t-- EX. 55' ROW I �I
� I -
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EX. 55' -EX. 55' ROW ROW�
I ROW
21
4
r 2:
a, T KEYNOTES:
tin
4
VERTICAL CURB AND GUTTER W/ 2' PAN
JI s
_. VERTICAL CURB AND GUTTER W/ 2' PAN AND 5' WALK
NO
i 3 1 6' WALK
SEE ABOVE MIDDLE SEE ABOVE RIGHT O LIGHTING
E W 0 CROSS PAN
.. 0 CURB RAMP
CONTROL LINE - • w PROPOSED PAVEMENT (COMPOSITE SECTION
OF 5" HMA & 11"OF UNBOUND GRANULAR BASE)
PER GEOTECHNICAL RECOMMENDATIONS
EX.'.4'ALK _ TIE IN TO EXISTING3' UTIL. _ 1 I PROPOSED SIDEWALK
PAVEMENT 2 5 2% K ZONE
2-:540 1li
%MIN
i - n 24' SAWCUT AND PATCHBACK
� �\
'\�`1/ CURB AND ' y�
\� \ Y `Y� \�fy\ \�`✓ V'•,��Y�. y' \ f\"\\GUTTER
/ff ��T f\ ff /
\IS r\�/ / /� 1 >/ /// /\ / / /\ /� /�f%\! �OJRTH�/1\0 60
�a PARFET STREET/r... \i!/\\ \\'�!?��i
SCALE: 1"= 10'
30
PARFET STREET SHEET
HRGreen.Com EXHIBIT C
HRGreen AXIS 70 WEST SCALE: 1" = 60'
DATE: 10/21/20
EXHIBIT D
Cost Estimate for Public Improvements
(see attached)
17
0
Date: 10/21/2020
EXHIBIT D - SECTION 1.0 - DRAINAGE & ROW IMPROVEMENTS
Item
Unit
Unit Cost
Quanitity
Cost
Use Tax
(3.5%on60%of
Valuation)
Roadway
6" Curb & Gutter
LF
$
25.00
1761
$ 44,025.00
$ 924.53
Sidewalk (6" thick)
SF
$
4.75
8280
$ 39,330.00
$ 825.93
Curb Ramp
EA
$
2,100.00
9
$ 18,900.00
$ 396.90
50th Avenue Roadway (6" HMA, 11" Base)
SY
$
40.00
598
$ 23,920.00
$ 502.32
Oak Street Roadway (6" HMA, 10" Base)
SY
$
39.00
1408
$ 54,912.00
$ 1,153.15
Parfet Street Roadway (5" HMA, 11" Base)
SY
$
36.00
1033
$ 37,188.00
$ 780.95
Crosspan
SF
$
13.50
3180
$ 42,930.00
$ 901.53
Sawcut & Patchback Existing Edge of Pavement
LF
$
3.00
1715
$ 5,145.00
$ 108.05
Street Signs
EA
$
28.00
22
$ 616.00
$ 12.94
Pavement Markings
LF
$
0.40
375
$ 150.00
$ 3.15
Landscaping & Exterior Improvements
Bench
EA
$
800.00
2
$ 1,600.00
$ 33.60
Trash Receptacle
EA
$
500.00
2
$ 11000.00
5 21.00
Soil Prep/Fine Grading/Soil Amendements
SF
$
0.15
1842
$ 276.30
S 5.80
irrigation System
SF
$
0.50
1842
$ 921.00
5 19.34
Stone Mulch (3" eashed round gravel over landscape fabric)
SF
$
1.20
1842
$ 2,210.40
$ 46.42
2-1/2" Caliper Deciduous Tree
EA
$
450.00
11
$ 4,950.00
$ 103.95
5 -Gallon Shrub
EA
$
50.00
26
$ 1,300.0015
27.30
1 -Gallon Ornamental Grasses
EA
$
30.00
12
$ 360.001
$ 7.56
Storm Drain
COW Inlet (Single)
EA
$
5,000.00
2
$ 10,000.00
$ 210.00
COW Inlet (Double)
EA
$
8,000.00
1
$ 8,000.00
$ 168.00
Type C Inlet
EA
$
4,000.00
1
$ 4,000.00
$ 84.00
18" RCP
LF
$
74.00
35
$ 2,590.00
$ 54.39
24" RCP
LF
$
95.00
26
$ 2,470.00
$ 51.87
54" RCP
LF
$
249.00
83
$ 20,667.00 1
$ 434.01
7' Manhole I
EA 1
$
8,200.001
1
$ 8,200.001$
172.20
Lighting
Street Light Standard
EA
$
4,614.28
13
$ 59,985.64
$ 1,259.70
Stree Light Concrete Base
EA
$
1,462.48
13
$ 19,012.24
$ 399.26
Street Light Luminaire
EA
$
2,095.62
13
$ 27,243.06
$ 572.10
Pedestrian Light Standard
EA
$
1,832.77
13
$ 23,826.01
$ 500.35
Pedestrian Light Concrete Base
EA
$
563.59
13
$ 7,326.67
$ 153.86
Pesdestrian Light Luminaire
EA
$
3,698.53
13
$ 48,080.89
$ 1,009.70
Small Electrical Pull -Box
EA
$
692.75
26
$ 18,011.50
$ 378.24
Electrical Conduit (2")
LF
$
19.04
1820
$ 34,652.80
5 727.71
SubTotal: $ 573,799.51 $ 12,049.79
Contingency 25% $ 143,449.88
Grand Total $ 717,249
Performance Guarantee as outlined in Section 16 shall be provided in the amount of $717,249.
Date: 10/21/2020
SubTota1: 1 1 $ 1,990,366.75 $ 41,797.70
Grand Totalf 1 $ 1,990,366.75
EXHIBIT D - SECTION 2.0 - ON SITE IMPROVEMENTS
Item
Unit
Unit Cost
Quanitity
Cost
Use Tax
(3.5% on 60%
of Valuation)
Roadway&Site
6" Curb & Gutter
LF
$
16.50
4597
$ 75,850.50
$ 1,592.86
Sidewalk
SF
$
3.75
10535
$ 39,506.25
$ 829.63
Curb Ramp
EA
$
1,850.00
9
$ 16,650.00
$ 349.65
5" Asphalt
EA
$
21.00
3739
$ 78,519.00
$ 1,648.90
7.5" Asphalt
SY
$
31.50
9474
$ 298,431.00
$ 6,267.05
7" Concrete
SY
$
48.00
3649
$ 175,152.00
$ 3,678.19
Retaining Wall
SF
$
35.00
238
$ 8,330.00
$ 174.93
Signs
EA
$
28.00
28
$ 784.00
$ 16.46
Site Light
EA
$
9.00
9
$ 81.00
$ 1.70
Sanitary Sewer
6" PVC
LF
$
68.00
293
$ 19,924.00
$ 418.40
8" PVC
LF
$
73.00
232
$ 16,936.00
$ 355.66
6" Cleanout
EA
$
1,200.00
4
$ 4,800.00
$ 100.80
4' Manhole
EA
$
5,000.00
3
$ 15,000.00
$ 315.00
Storm Drain
COW Inlet (Single)
EA
$
5,000.00
7
$ 35,000.00
$ 735.00
COW Inlet (Double)
EA
$
8,000.00
1
$ 8,000.00
$ 168.00
Custom Inlet for Arvada Channel
EA
$
16,500.00
1
$ 16,500.00
$ 346.50
Type -C Inlet
EA
$
4,000.00
1
$ 4,000.00
$ 84.00
4' Manhole
EA
$
4,600.00
7
$ 32,200.00
$ 676.20
5' CDS Manhole
EA
$
20,100.00
1
$ 20,100.00
$ 422.10
5' Manhole
EA
$
5,400.00
5
$ 27,000.00
$ 567.00
6' CDS Manhole
EA
$
32,700.00
1
$ 32,700.00
$ 686.70
7' Manhole
EA
$
8,200.00
5
$ 41,000.00
$ 861.00
8' Manhole
EA
$
9,500.00
5
$ 47,500.00
$ 997.50
8' CDS Manhole
EA
$
43,600.00
2
$ 87,200.00
$ 1,831.20
18" RCP
LF
$
74.00
1183
$ 87,542.00
$ 1,838.38
24" RCP
LF
$
95.00
663
$ 62,985.00
$ 1,322.69
48" RCP
LF
$
222.00
544
$ 120,768.00
$ 2,536.13
54" RCP
LF
$
249.00
1039
$ 258,711.00
$ 5,432.93
66" RCP
LF
$
345.00
165
$ 56,925.00
$ 1,195.43
60"x38" HERCP
LF
$
410.00
42
$ 17,220.00
$ 361.62
Underground Detention
LS
$
193,600.00
1
$ 193,600.00
$ 4,065.60
8" PVC
LF
$
35.00
330
$ 11,550.00
$ 242.55
12" PVC
LF
$
55.00
169
$ 9,295.00
$ 195.20
15" PVC
LF
$
62.001271
1
$ 16,802.00 1
$ 352.84
Water
6" DIP
LF
$
50.00
145
$ 7,250.00
$ 152.25
8" DIP
LF
$
55.00
205
$ 11,275.00
$ 236.78
1.5" Copper
LF
$
40.00
207
$ 8,280.00
$ 173.88
6" Gate Valve
EA
$
1,600.00
3
$ 4,800.00
$ 100.80
8" Gate Valve
EA
$
1,850.00
2
$ 3,700.00
$ 77.70
1.5" Water Meter
EA
$
5,000.00
1
$ 5,000.001$
105.00
Fire Hydrant
I EA
$
4,500.001
3
$ 13,500.00 1
$ 283.50
SubTota1: 1 1 $ 1,990,366.75 $ 41,797.70
Grand Totalf 1 $ 1,990,366.75
EXHIBIT E
Letter of Credit Template
(see attached)
EXAMPLE LOC — Parentheses O indicate applicant/bank defined fields
M
(Bank Letterhead)
LETTER OF CREDIT # (L.O.C. #)
BENEFICIARY: The City of Wheat Ridge
ADDRESS: 7500 West 29th 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) a signed 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