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Home My WebLink AboutRussel Mahrenholz & Hazel L. Lillardr i;2�l7Zi9 DEVELO AG THIS DEVELOPMENT AGREEMENT, a s authori.zcd by the SUBDIVISION �r (A. EEGULATIONS of the CITY OF WHE/1T RIDOL, is entered into this n day of 193?, between the City of wheat Ridge, a I � ✓ Municipal Corporation, hereinafter referred to as City, and Ft��;;�i� P� �rF��,1� :�tthj Hal e T,�,zp hereinafter referred to as Owner, and concerns property located at 4255 Carr 'treet Wheal ! id,re , (' -! _)raau i W I T N E S S E T H: 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 desires to develop the Property but has not'been issued a Building Permit as of Tanniry I g8 l to do .so; and WHEREAS, curb, gutter, sidewalk and street improvements boarding the Property and the neighboring tracts of land are incomplete and /or below those standards as set out in the SUBDIVISION REGULATIONS of the City; and WHEREAS, to be uniform and consistent with the existing neighboring improvements, the completion or non - completion of those improvements as required by SECTION FIVE: IMPROVEMENTS of the SUBDIVISION REGULA'T'IONS will make no significant change at the present in those streets fronting the Property and the neighboring tracts of land; and WHEREAS, in order to conform to those requirements as set out in the SUBDIVISION REGULATIONS 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 out in the SUBDIVISION REGULATIONS of the City,is hereby recognized by Owner. 2. The Director of Public Works, 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 require- ments as Set out in the SUBDIVISION REGULATIONS of the City and to construct public improvements described above, including curb, gutter, sidewalks and street improvements, 3. Upon receipt of such notice to furnish or construct the public improvement as required under the SUBDIVISION REGULATIONS of the City, Owner hereby agrees to construct and furnish at Owner's cost, such improvements as are required by the SUBDIVISION REGULATIONS of the City, and to do so in conformance with the design standards of the SUBDIVISION REGULATIONS of the City. 4. Owner agrees to construct, or cause to be constructed, all public improvements required hereby within g0 days of the date of- receipt of the notice described in the preceding paragraph. In the event such public improvements are not completed within such time, the City is hereby authorized to enter upon the Property either by its employees or through agents, contractors, or sub- contractors, and to complete the public improvements described RE Cad i� 0 N 00 herein, said completion to be accomplished at Owner's sole expense. Owner agrees to pay for all improvements so made within 30 days of P the date of completion, Owner further agreeing that any amount resulting from his failure to pay for any impr.ovcment thus coniplotecl shall constitute a lien upon the Property above described in the actual amount of the public improvements completed, less any pay- ments 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. 5. In the event an Improvement District is created by the requirements as set out in streets or streets fronting tracts of lands, the Owner not to oppose its creation, costs to the Property. District or a Special Improvement City to improve or provide those the SUBDIVISION REGULATIONS for those the Property and the neighboring or his assigns and successors agree or subsequent assessment of the 6. In the event an Improvement District is created by the City to provide the improvements as provided by the SUBDIVISION REGULATIONS, the costs assessable against the Property shall. not be dispropor- tionate with costs assessable to other nearby and like properties. 7. This agreement is executed by the Owner pursuant to the SUBDIVISION REGULATIONS of the CITY OF WHEAT RIDGE. 8. 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. 9. The City, in its sole discretion, may require a cash or surety bond to be held in escrow by the City to secure completion of the public improvements described herein. Said cash or surety bond shall be in a sum sufficient to cover the estimated costs of th- construction of the pu'olic improvements described herein, said estimate to be made at or about the time of the notice described in paragraph 2 above. In the event the Owner fails to complete the public improvements within the time specified in paragraph 4 hereof, the City may, at its sole option, complete or cause to be completed, said construction and use all, or any part, of the cash or surety bond to pay for., or cause to be paid, all bills and costs incurred in completing said public improve- ments. Any interest earned on any escrow funds shall be the sole property of the City. 10. This DEVELOPMENT AGREEMENT shall be recorded With the Clerk and Recorder of Jefferson County, Colorado, and shall constitute a continuing covenant running with the land; provided, however, that this DEVELOPMENT AGREEMENT shall be released by the City upon the completion by the owner of the public 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. SPECIAL PROVISIONS AND AGREEMENT: D-, iEn aril mill a may be aporf)v��il b ,, City Engineer': office, curb, Liztter and i , l -iY' ft�i �t W1'��P S1L�F�Wd lei an'l any 1Y'r'1� t 1� Y1; �'1T?.L7T�. dit ( x ir dnLrF quire - 2 -- IN 1•11'14ESS WIIERLOF, thy parties Naive set their hands and seals on uate first shown. .. tECOZ*IENDED BY: cg:"ublic D(. a tment APPROVED AS TO FORM: 3 Communit v n partment i f / L \ � Ci Attorney City Administrator ECUTED BY 06JNER: _ EXECUTED BY CITY: ( Y Y P Mayor, City of 3 eat Ridge �- f.TTESTED TO BY STATE OF COLORADO ss. 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