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HomeMy WebLinkAboutKKM&S PartnershipRECORDED IN C01.IN'rY OF ..IE FrER -S) N STATES OF' COLORADO DEVELOPMENT AGREEMENT & COVENANTR E('-EPT:I:ON NO. 86082 026 07/22/66 13:27 6 .U 0 THIS DEVELOPMENT AGREEMENT, as authorized by the DEPARTMENT OF COMMUNITY DEVELOPMENT of the CITY OF WHEAT RIDGE, is entered 1 3D into this day of ) 19 86 , bet4een the City of Wheat Ridge, a Municipal Corporation, hereinafter referred to as City, and KKM &S PARTNERSHIP , hereinafter referred to as Owner, and concerns property located at 7900 West 44t Avenu WITNESSETH: WHEREAS, Owner is the titled Owner of a tract of land in the City of Wheat Ridge, County of Jefferson, State of Colorado, more fully described in Exhibit A, which is attached hereto and expressly made a part hereof (which property is hereinafter referred to as "the Property "); and WHEREAS, Owner is developing the Property; and WHEREAS, certain iinprovenierits on the Property and the neighboring tracts of land are incomplete and /or below those standards as set out by the DEPARTMENT OF C01 DEVELOPMENT of the City; and WfILREAS, to be uniform and consistent with future neighboring improvements, the completion or non - completion of those improvements as required by the DEPARTMENT OF COMMUNITY DEVELOPMENT will make no significant change at the present on the neighboring tracts of land; and WHEREAS, in order to conform to those requirements as set out by the DEPARTMENT OF COMMUNITi DEVELOPMENT of the City, this Agreement is hereby determined to be proper. NOW, THEREFORE, IT IS HEREBY AGREED THAT: 1. The responsibility for meeting, conforming to and providing those requirements as set forth under paragraph No. 8 is hereby recognized by Owner. 2. The Planning Director, upon the direction of the Mayor or the City Administrator, shall give written notice directing the Owner or his assigns and successors to meet those requirements as required by the DEPARTMENT OF COMMUNITY DEVELOPMENT of the City to construct improvements as set forth under paragraph No. 8 hereof. 3. Upon receipt of such notice to furnish or construct the improvement as required by the DEPARTMENT OF COMMUNITY DEVELOPMENT of the City, Owner hereby agrees to construct and furnish at Owner's cost, such improvements as required by the DEPARTMENT OF COMMUNITY DEVELOPMENT of the City, and to do so in conformance with the design standards of the SUBDIVI3IOA REGULATIONS of the City. 4. Owner agrees to construct, or cause to be constructed, all improvements required 'hereby within 60 days of the receipt of the notice described in the preceding paragraph. In the event such improvements are riot completed within such time, the City is hereby authorized to enter upon the Property, either by its employees or through agents, contractors, or subcontractors, and to complete the improvements described herein, said completion to be accomplished at Owner's sole expense. Owner agrees to pay for all improvements so made within 30 days of the date of completion, Owner further agreeing that any amount resulting from his failure to pay for any improvement thus completed shall constitute a lien upon the Property above described in the actual amount of the public improvements completed, less any payments made by Owner, plus interest on the amount unpaid at 10 percent per annum from the date of completion, plus any costs incurred by the City in collecting same, including; court costs and attorney's fees. KKMS PART!JERSHIP DEVELOPMENT AGREEMENT x COVEMAINT PAGE 2 5. This agreement is executed by the Owner pursuant to the requirements of the DEPARTMENT OF COMMUNITY DEVELOPMENT of the CITY OF WHEAT RIDGE. 6. The parties hereto agree that this DEVELOPMENT AGREEMENT, by its terms, shall be binding. upon the City and the Owner and upon the assigns and successors thereof; and shall constitute covenants running with the Property. 7. The DEVELOPMENT AGREEMENT shall be recorded with the Clerk and Recorder of Jefferson County, Colorado, and shall constitute a continuing covenant running with the land, providing however, that this DEVELOPMENT AGREEMENT shall be released by the City upon the completion by the Owner of the improvements described herein, which release shall be evidenced by a signed document attested to by the City Clerk and bearing the City's seal, which document shall likewise be recorded. 8. SPECIAL PROVISIONS AND AGREEMENT: The applicant shall pave, at the City's di scretion L the 20 f access ease shown o the Charles Graul, Jr., Min Subdivision upon development of either Lots 1 or 3 of the Charles Graul, Jr, Minor Subdivision. IN WITNESS WHEREOF, the parties date first shown. RECOM D Y� Public Works Department APPROVED AS TO FORM: City, Attorney j EXECUTED BY OWNER(S): l E STATE OF COLORADO ) )ss COUNTY OF JEFFERSON) ATTESTED BY: City nlerk The foregoin instrument was acknowledged before me this 24th day of Jun 19 86 , by Ju A. Sullivan My commission expires: 11/19 19 J' ry l i. e (, RECEPTION NO. 86082026 have seL their hands and seals on R y ` Community Deve opine Department City Administrator EXECUTED BY CITY: Mayor, City of Wheat Ridge Z E A-L.'