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Home My WebLink About0113 8 lOB 6 8 5 { IHWELClI'~IENT I\G I~X\~~{'\~~'l~ _ 1.~ :"'.; = @ L.. _; \ ~ () ~() 'l';n~; DEVELOP~,lEN'l' l\GHEEt'1ENT, a;; aulhori/'cd b~' thc~ SUDDIVI~JlON W;CULATION:] of the CITY OF l'iHE!\T lUllGE, i~~ cnteH'c1 into this 26th dilY of October , 1981, bclwec'!l the city of Ivhcat' Ridq(','-~-;--- Municip'aJ:--Corpori.1tiun, hereinilftcr Y"e[errcd to as ci ty, and Ina ~l. and W, L. Beaslev , hereinafter referred to as Owner, and concerns propcr-ty loci:lFe'2l at 3440 Estes Street Wheat Ridge, Colorado , 'S WIT N E SSE '1' H . WHEREAS, Owner is the titled Owner of a tract of land in the City of Wheat Ridge, County of Jefferson, State of Colorildo, 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 October 26, 1981 to do so; ilnd WHEREAS, curb, gutter, sidewalk and street improvements hoarding 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: IMPROVEt,1ENTS of the SUBDIVISION REGULATIONS will make no significant change at the present in those streets fronting the Property 3nd the neighboring tracts of land; and WHEREAS, in order to conform t~ those requirements as set out in the SDBDIVISION REGULATIONS o' the City, this agreement is hereby determined to be proper. NOW, THEREFORE, IT IS HEREBY AGREED THAT: 1. The responsibility for meetin~, conforming to and providing those requirements as set out in the SUBDIVISION REGULATIONS of the Cit~ is hereby recogniz~d by Owner. 2. The Director of Public Works, upon the direction of the Mayor or the City Administrator, shall give Hritten 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 t.he SUBDIVISION REGULNfIONS of the City, Owner hereby agrees to construct and furnish at Ovmer'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 60 days of the date of receipt of the notice described in the preceding paragraph. In the event such public improvements are not completed witlun such time, the City is hereby authorized to cnt~r upon the Property either by its employees or through agents, contractors, or sub- contractors, and to complete the public improvcrnenls dCo.cribcu ~ J 8 108 6 e 5 ( her\:1n, s;u_d compll'llol1 to bl~ <lc:cOl\1pli~;hl'd at Owner'~; "ole: CXP'_'I1~;c. O'dJler ;l(ln'l~:; to pair fur <:111 impC<Jv\'[\\.-'nLs ~;o l11i1.-1c \'Ii.thin :~o ddY~; of the date of cOlllpletion, Owner I'll) ther <lCjl-pc'ing that v.ny v.rnount r.c~\llting froll1 hi.~; fiJilun: to PdY for any irnprovCiHcnt thus COLlp]clC'c! shall. constitute v. lil'l1 upon the Property ilbovc described in the actual v.mount of the public irnprovC'ments completed, less any pay- ments TIlilde by O\-mer, plus interest on the iltnount unpai c. <:It 10 perc.ent per annum from the date of completion, plus any costs 2 incurn,:d by the City in collecting same; including court costs and attorney's fees. 5. In the event an Improvement District or a Special Improvement District is created by the City to improve or provide those requirements as set out in the SUBDIVISION HEGULATIONS for those streets or streets fronting the Property and the neighboring tracts of lands, the O'dner or his assigns and successors agree not to oppose its creation, or subsequent assessment of the costs to the Property. 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. ~he 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 Jr surety bond to be held in escrow by the City to secure completion of the public improvements described herein. Said casp or surety bond shall be in a sum sufficient to cover the estima~ed costs of th~ construction of the pu~lic improvements described herein, said estimate to be made at or about the time of the ~otice 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: (lne hundred feet of curb, !~utter and four-foot wide sidewalk acro~ sLot s 1 and 2 a-djacent to Estes Street and Duclley Street, bea21ey Subdivision. - ;; -- Bl08SG57 J N \'iLTNI':~;S \'111 EW:OF , tk' p,-lrLi(~~; helVe set lh(.ir hcUlcl:j and ~,,~al:::; on <idL(~ l: i.n;t shown. m:C::O:';>lENDED 1IY: /) ~ : /, ~ C;' -) ( Cl~~~e~ ,~.~ ,.~7 ~~ \\,>-- Co~unl ',~;'m"~l'pa"tm'.n t ~ +Ie f ~1'1ro City Administrator / . .I) . ,.~ct.( <. ." /' PubliC-Works Departm<;h1t APPROVED AS '1.'0 FOPcMj' / ~?ECUTED BY OWNER: EXECUTED BY CITY: --r , . "---;;t''A. a u~_ / A~ r./'?' Mayor, CiEy of l'iheat R~dge ~' , , I' ATTESTED TO BY: --,l/'.~ / Xif i /,", kd~;')/, W'I'Il. BE AS LEY ' . 4 71A..J '??1 , . t2..e.a ~ ~~_ INA M. BEASLEY STATE OF COLORADO ) 55. COUNTY OF JEFFERSON ) C' ,--V .u?~~- . . " ~ . . ' , . f__ /,",. The fcregoing instrument was e,=ecuted before me this 18th day of November , 1981, by w. l. BEASLEY anJ INA M. BEASLEY ,...... r <...... ~ ~""'.., ; .' . .,,;'" .;....- ; .. f . My commission expires: January 2, 1984 _~~. ' J'~' : ~ . . -. , ,1 ,-:r:,:- .. ...... ~.." .... Notary Public Charles L. Bowers, Jr. 10474 West 38th Avenue Wheat Ridge, Colorado 80033 - 3 -