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q. TIllS DEVELC11'1'1l;NT ^(;HEI,:r-1EN'l', a~; authori,z0d by the SUI3DIVlf,TON
HEGULNI'lOiliS o[thc CITY OF \mJ:1\'l' HIDGY, is enteH'd into thi~; 1(,
day of Jovell'ber " ]981, between the cit,y of \'ihe<:lt Hic1c)e, a
Nunicipill-co-l~por<;ti0r1', hereinafter referred to uS City, ancl
E.,), IClcc"/ettCl :!]h1 E. cTean "tV.IV'ctt," hereinuftcr referred
t,G <lS -Owncr~' and concerns prop(~rty located at llOo~~ Hest 44th \venue
Tdheat Fic.L,e,\ ,'_ll-.JY"l,j.) ,
DEVELOl'Hl:N'[' j\GHr:l';~IEN't "
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WIT N E SSE T H .
WHERE^S, Ovmer is the titled Owner of a tract of land in the
City of \Iheat 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 cTo"emller lC., l'),J:" 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
REGULATIONS will make no significant change at, the pres~nt in those
streets fronting the Property and the neighboring tr2~ts of land;
and
WHEREAS, in order to conform to those requirements a~ set out in
the SUBDIVISION REGULATIONS of the City, this agreeme,t 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 Cit~ is hereby recognized by O\vner.
2. The Director of Public Works, upon the direction of the Mayor
or the City Administrator, shall give written notice directing
the Ovmer or his assigns and successors to meet those require-
ments as set out in th(" 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
REGUL~TIONS 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 wi thin Go d<lYs 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 Cit" is here'by authorized to enter upon the Propertv
either by its employees or through agents, contractors, or ,;ub-
contractors, and to complete the public improvements described
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hcrt'ln, said CCJlllplpLioll La be ilCTUll\pli.~.h"ll;l.tO\vnf,r'~~ ~;ol~~ C':'-ll\'l\~;(,.
O"Il\<, I il.Cju,'c~; to pay for all ill\l'l'uvl'r1\f'nt~; ~;() miHlc wiLhi,n ]0 cl.1Y~; of
the uate of complctioll, Ownc'r i IIcLht'l: aqn'c'illCj thed' any amount',
rcsulLing from his failurf> to PdY for a!1Y jll\provl'I1H'nt: tllU~> COllII'1L'Leu
shilll constitnLe a lie:n upon th.,' J>~:oi'~,rt:y above cll~~;crih(,d in tIll'
actual Clmount of the public imI)l'ovC'fI1cnts C'or,lplctccl, less any PilY-
mcnts made by Owner, plus interest on the Jrnount unpaid ilt 10
percent per aIlnum from the date o[ complet ion, plus any cost~; /}
incurred by the city in collecLin<J SilffiC; including court costs ,L-
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 SUBDIVIE;lON HEGULl\TIONS fer those
streets or streets fronting the Property and the neighboring
tracts of lands, the OWIIer 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.
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
runni~g with the Property.
9.
The (ity, 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
bono shall be in a sum sufficient to cover the estimated costs
of t;le construction of the pul;lic improvements deseri l,ed herein,
~aid estimate to be made at or about the time of the not~ce
descr~bed in paragraph 2 above. In the event tho Owner fails
to complete the public improvements within the time specified in
par~sraph 4 hereof, tho 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 AGREEI'lENT shall be recorded vlith 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:
The instdllatiun Jl carb, ~utter anl five foot-wile ~ilew~lk adjacent to 114th
Auenue :in 1 re'~rsun ':lnrl 3,ny lrCLinCl..:."e i..'llprr_1 .re..'uent ~ per cq.JT-,rovt:',l clralnar"e re uort
at LI-It
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coeJ:lonl:r kilO",)] ~::;
:31:=l~~'_'n (;llb(livi~31()n, Terfel"'~~on Cunnty,
I_:olorado,
lll)')'~! "'lest 44th "venue.
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J~,IJ "-li'l'Nl'S,; \vIU-:rZL:OI:', th.' parLi.J~!-:; hilVC set t.heir h...lncls unc1 s('al~; en
... date1:.L1.'sc ~;howll.
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r- RECOl'ldENDEO BY:
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cJ;;ty Attorney
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,~'EXECUTED BY O\VNER:
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STATE OF COLORADO )
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COUNTY OF JEFFERSON )
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Departmc:.)
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City/Administrator
EXECUTED BY CITY:
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Mayor, City of Wheat Ridge
ATTESTED TO BY:
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The ioregoing instrument was executed before me this ~ .T:::'{da.y
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, 1981, by
My t.l'..'mission expires:
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Notary Public
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