HomeMy WebLinkAboutTouchstone Holdings 2007o"opy To' PlArn;ns ✓ 11111111111111111111111111111111111111111111111111111111Jill COVO.oo
~rJ 01/15/2008 02:46:42 PM 7 Page(s)
Jefferson County, Colorado
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DEVELOPMENT COVENANT AGREEMENT
THIS DEVELOPMENT COVENANT AGREEMENT is made as of
the 12th day of October, 2007 by and between the CITY OF WHEAT RIDGE,
COLORADO, a home rule municipal corporation (the "City"), and
Touchstone Holdings LLC, (the "Applicant'), together referred to as the "Parties".
RECITALS: /
WHEREAS, the Applicant 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 5220 Quail Street; and
WHEREAS, the City, after holding all required public hearings and
granting all administrative approvals as prescribed by the Wheat Ridge Code of
Laws (the "Code of Laws"), approved the Final Plat for the Property titled Quail
Ridge Estates. Copies of the Final Plat and/or Final Development Plan are
attached hereto as Exhibit B, and is incorporated herein; and
WHEREAS, the Applicant may not in the future be involved with
development of the Property, and in that event should not be responsible for the
site improvements to the Property shown on the approved Final Development
Plan and Final Plat held by the Community Development Department and civil
drawings held in the Department of Public Works of the City, herein referred to
collectively as the "Final Plans"; and
WHEREAS, the Parties understand and agree that the intent of this
Agreement is to establish the obligations and expectations for future
development of the Property in accordance with the Final Plans; and
THEREFORE, in consideration of the mutual promises, covenants and
agreements of the Parties, the approval of the Final Plans by the City, the
dedication of certain land and/or easements to the City and other good and
valuable consideration, the receipt and sufficiency which is acknowledged and
confessed, the Parties hereto agree as follows:
1. Compliance with Final Plan: The entity which develops the Property
("Developer") consistent with the Final Plans, whether the Applicant or a
successor or assign of the Applicant, shall be required to comply with all
applicable sections of Chapter 26, Articles III and IV of the Wheat Ridge Code of
Laws. The Developer shall also furnish all financial guarantees required for
development of the Property by the Director of Public Works and the Community
Development Director acting jointly.
documents teasonitsly necessary to do so.
3. Safe of PMrllr. No sate of kxWdtW k*& or any colledion of
bb which do not equal the et r of the Pmpedy as desorbed eh Ehdttbtii A
may occur until such One as a Fuhm Agreement has been execubW - This
para h shalt not prevent the Applicart or a Developer Um convOM or
srtg the entirety of the Property to a third party.
4. issuance of f @ft fir: The City shag not Mw any W&ft pence t
fiat any hrdividuel lot vet the Ompedy until an qp ved Future Agreemnt has
been errecxtt d by the, try and ft then owner Of fire PMPO ty
for kOvidual khts tray be issued by the City eoref mW upon otmViiame with all
terms isted in the Fu lu a rrerrt.
h. Saft Aid w1h OayelCa mgd of ftberty, At trtilct'mg permit fees,
park land dedicalm bees, r Vww fem and WM* for MWRICbOft of pry
rroveaw is shalt be pain by the Applicant, or in the event the Property is
Conveyed, by the Developer vft executes the Frke Ag Vement. The Applicant
shaft not be resporusrbte for the payrnert of such fees unite the Appftwt
eats the Future, Agreeiment as the Property Developer.
6. Horrterrwger's Altus The Developer, as executor of the Future
Agrement shy be r ortstTale for due estabWr *WA of and fire r elation of
rules governing a horneownem asso err for the Pa rty. The Applicant shall
not be r for the esubfishimert of a ho#oaw*Ws emu, unless,
the Applicant is the Developer, the Property, may not be developed, and no lots
may be sold pw to, creation of the hwMwr et5 association-
7. (ttmroy rreruts to Pnyerfv- No site work shall be perforimed on dre
Property until a signed Future Agreement has been executed and the proper
pen uils for the sane: have been issued by the City. For the purposes of this
paragraph, site woW is defined as any gnx*q, clearing, or
drug of try conpAxtion vAh she dew went with the
approved Final Plans. Nothing in this paragraph shall prevent the carr ion of
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STATE OF COLORADO
COUNTY OF JEFFERSON )
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EXHIBIT A
LEGAL DESCRIPTION OF THE PROPERTY
KNOW ALL MEN BY THESE PRESENTS: THAT THE UNDERSIGNED, TOUCHSTONE
HOLDINGS, INC., A COLORADO CORPORATION, BEING THE OWNER OF REAL PROPERTY,
DESCRIBED AS FOLLOWS:
A PARCEL OF LAND LOCATED IN THE WEST ONE HALF OF SECTION 16, TOWNSHIP 3
SOUTH, RANGE 69 WEST OF THE 6TH PRINCIPAL MERIDIAN, COUNTY OF JEFFERSON,
STATE OF COLORADO, BEING A PORTION OF LAND DESCRIBED IN RECEPTION NO.
83042942, COUNTY PUBLIC RECORDS, INCLUDING A 7.5 FEET, MORE OR LESS, WIDE STRIP
OF LAND DESCRIBED IN RECEPTION NO. 2007001840, MORE PARTICULARLY DESCRIBED AS
FOLLOWS:
NOTE: FOR THE PURPOSE OF THIS DESCRIPTION THE BASIS OF BEARINGS IS THE SOUTH
LINE OF THE NORTHWEST QUARTER OF SECTION 16 AS BEARING NORTH 89°32'45" EAST
BETWEEN THE FOUND 3 INCH DIAMETER ALUMINUM PIPES WITH 3-1/4 INCH DIAMETER
BRASS CAPS STAMPED L.S. 13212 MARKING THE SOUTHWEST CORNER AND THE
SOUTHEAST CORNER OF SAID NORTHWEST QUARTER.
COMMENCING AT THE SOUTHWEST CORNER OF SAID NORTHWEST QUARTER OF SECTION
16;
THENCE NORTH 89°32'45" EAST ALONG THE SOUTH LINE OF SAID NORTHWEST QUARTER
OF SECTION 16, 1329.63 FEET TO A FOUND 3/4 INCH DIAMETER REBAR WITH 2-1/2 INCH
DIAMETER ALUMINUM CAP STAMPED L.S. 16427 MARKING THE SOUTHWEST CORNER OF
THE NORTHEAST QUARTER OF SAID NORTHWEST QUARTER OF SECTION 16;
THENCE CONTINUING ALONG THE SOUTH LINE OF SAID NORTHWEST QUARTER OF
SECTION 16, NORTH 89°32'45" EAST, 15.00 FEET TO THE TRUE POINT OF BEGINNING;
THENCE ALONG THE WEST LINE OF LAND DESCRIBED IN RECEPTION NO. 83042942, BEING
PARALLEL TO AND 15 FEET EAST OF THE WEST LINE OF THE SOUTHEAST QUARTER OF
THE NORTHWEST QUARTER OF SAID SECTION 16, NORTH 00°15'09" WEST, 381.40 FEET TO A
FOUND 5/8 INCH DIAMETER REBAR WITH PLASTIC CAP, L.S. 29043;
THENCE NORTH 89°32'45" EAST, 447.89 FEET TO A POINT ON THE WEST LINE OF A STRIP OF
LAND DESCRIBED IN RECEPTION NO. 2007001840;
THENCE NORTH 89°32'45" EAST, 7.69 FEET TO A POINT ON THE WEST LINE OF SKYLINE
ESTATES FILING NO. 2, RECEPTION NO. F1816752, COUNTY PUBLIC RECORDS, SAID POINT
ALSO BEING ON THE EAST LINE OF SAID STRIP OF LAND;
THENCE SOUTH 00°13'03" EAST, ALONG SAID WEST LINE OF SKYLINE ESTATES FILING NO.
2, AND ALONG THE EAST LINE OF SAID STRIP OF LAND, 381.40 FEET, TO A POINT ON THE
SOUTH LINE OF THE NORTHWEST QUARTER OF SECTION 16, SAID POINT BEING THE
SOUTHWEST CORNER OF SKYLINE ESTATES FILING NO. 2, SAID POINT ALSO BEING THE
SOUTHEAST CORNER OF SAID STRIP OF LAND;
THENCE SOUTH 89°32'45" WEST, ALONG THE SOUTH LINE OF THE NORTHWEST QUARTER
OF SECTION 16, AND ALONG THE SOUTH LINE OF SAID STRIP OF LAND, 7.44 FEET TO THE
SOUTHWEST CORNER OF SAID STRIP OF LAND;
THENCE SOUTH 00°15'21" EAST, 181.49 FEET TO THE BASE OF A BENT #4 REBAR; THENCE
ON THE NORTHERLY RIGHT-OF-WAY RIDGE ROAD AS DESCRIBED IN BOOK 184 AT PAGE
132, SOUTH 74°44'11" WEST, 463.62 FEET;
THENCE ON THE WEST LINE OF LAND DESCRIBED IN RECEPTION NO. 83042942, BEING
PARALLEL TO AND 15 FEET EAST OF THE WEST LINE OF THE NORTHEAST QUARTER OF
THE SOUTHWEST QUARTER OF SAID SECTION 16, NORTH 00°16'33" WEST, 300.00 FEET TO
THE TRUE POINT OF BEGINNING;
CONTAINING AN AREA OF 6.463 ACRES, MORE OR LESS.
HAS LAID OUT, SUBDIVIDED AND PLATTED SAID LAND AS PER THE DRAWING HEREON
CONTAINED UNDER THE NAME AND STYLE OF QUAIL RIDGE ESTATES, A SUBDIVISION OF
A PART OF THE CITY OF WHEAT RIDGE, COLORADO AND BY THESE PRESENTS DO
DEDICATE TO THE CITY OF WHEAT RIDGE AND THE PUBLIC THOSE PORTIONS OF REAL
PROPERTY SHOWN AS RIGHT-OF-WAY, AND DO FURTHER DEDICATE TO THE CITY OF
WHEAT RIDGE AND THOSE MUNICIPALLY OWNED AND/OR MUNICIPALLY FRANCHISED
UTILITIES AND SERVICES THOSE PORTIONS OF REAL PROPERTY SHOWN AS EASEMENTS
FOR THE CONSTRUCTION, INSTALLATION, OPERATION, MAINTENANCE, REPAIR AND
TELEPHONE AND ELECTRIC LINES, GAS LINES, WATER AND SANITARY SEWER LINES,
HYDRANTS, STORM WATER SYSTEMS AND PIPES, DETENTION PONDS, STREET LIGHTS
AND ALL APPURTENANCES THERETO.
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