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Home My WebLink About0118 o 2 (] I 7 Z i 9 ,__ I [JEVELOl'j,ICNT ACIU:Ei'IENT, --------i...I~1.J"",l.. ::f J_ J " @ 0'0 ~. 'l'IIlS DEVELONIENT J\CHEEmmT, a~; authori.zed by the SUBDIVISION HEGULATIONS of the CITY OF \'lIlENl' lUDGE, is enlered into this 1/; day of JcI"Ll'Jt"i , 19 . between the City of Hbcat Hidge, a Municipal\":orporation, hereinafter referred to as City, and f':Il~:"pll I![;i I JJVll.h<l 1 7 (il'd Ha7f:l T, Lill,lcd , hereinafter referred to as Owner, and concerns property located at 425') CmT ~treet \I!he'lt H L'.1iye. C'> 1 .JraJo , WIT N E SSE '1' H . HHEREAS, Ovmer 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 Propertyn); and . WHEREAS, Owner desires to develop the Property but has not'been issued a Building Permit as of JiJIllliJry:n, 1 giP to do ,so; and WHEREAS, curb, gutter, sidevlalk and street improvemen'ts 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~IONS will make no significant change at the present in those stre~ts 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 agreemert is hereby dete~ined to be proper. NOW, THEP.EFORE, IT IS HEREBY AGREED THAT: 1. The x~5ponsibility for meeting, conforming to and providing those requirements as set out in the SUBDIVISION REGULATIONS of the Cit~ 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 O\mer'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 requiJ:ed hereby within '.)0 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 en ~" r-- o "-I c:o I . -----. ' herein, said completion to be i1cc()ll\pli~;}l~d at O\oJncr'~; 501e cKpcnsc. Owner agrees to pay for all improv"rncnLs so made ...,it-hin 30 d.:1Y~; of I' the dute of completion, Ovmer further aeJrccing that ilny <lmoutlL J. resulting frorn his failure to pay for any :improvement thus cOi<lrlctcd shall constitute a lien upon the Property above described in tile actual amount of the public improvements cor,lpleted, less any p.:ty- ments made by Owner, plus inte1est on the amount unpaid at 10 percent per annum from the date of completion, plus any costs incurred by the City in collecting samei including court costs and attorney's fees. 5. In the event an Improvement District or a Special Improvement District is created by tho 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 Owner 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 SUBDIV.ISION 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 DEVELOPHENT AGREEl-lENT, by its terms, shall be binding upon the City and the Owner and upon the assigns and successors thereofi and shall constitute covenants running with the Property. 9. The City, in its sole discretion, may require a cash or suret~ 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~lic 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. This DEVELOPMENT AGREENENT shall be recorded ...,i th the Clerk and Recorder of Jefferson County, Colorado, and shall constitute a continuing covenant running with the landi provided, however, that this DEVELOPMENT AGREEMENT shall be released by the City upon the completion by the Owner of the public improvClnents 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. 10. SPECIAL PROVISIONS AND AGREEt-1ENT: [Ip,'if,;n 3Jld [.)11i1'1 CiG mew be 3DDrrYJi"1 b',' Citv Enrcineer'c offic::<:o, i::urb, i\lltter and ~uU.r f,y,t wielp sidc1,n1k and ;my lrri;cati'l'l/r1r"llnaic:e di tr;h nlr,inp; rpquire'1. - 2 ,- IN \'11'l'NESS \mEllEOF, th'.' parties have set their hands ilnd seal5 on Jate first shown. OJ c-!lECOHt'-lENDED BY: r-- - ) i ! C) l I / ('-.J . \ / /' ~/ :f~ ~<-; --,1 ""'ublic ('{'lQ)rkS lk(;:lj'rtment APPROVED AS TO FOm1: 3 ~i t:' ea.~ City'Administrator EXECUTED BY CITY: ~ "~"'''~<VI II -II~,~ 0( 0(;1 tJ....~ i...J . , Mayor r ~I{;/-~14irt~~:;'Ridge ATTESTED TO BY: ; c/ / ~ ,-_or. <c 1~~ COUNTY OF JEFFERSON ) ) "55. ) ~- -y~.....- ,..,- STATE OF COLORADO The f0regoing instrument was executed before me this O~/)(Jy~ . 191\l!., My commission expires: JJi~Ll4tI~ ) o ary Public ~31--~~'~ d~~i'~.:ycJZ~ 1)\~l,JER A;~ iJr' ArRI~ 1, 1'"J ~JEl;TlTED BY: , ~ '" ~,-, . / / ,,~>/ L( / -<c' ~ I ,/ \ --7 ?<'{l C, - .' j ii") ~'hc j'ore,,,clinr" l.nstnrYlent wac; executed bef0re me thi::; :!J..M <lay '=,f ; "'\ J' ,----) / 1:182, bv ( L-< \.c/S;(J " ) y ~ /.: ) 1 17!"" ..A:. . ;v1v c,)rnrnL~si,:;n f-?xf,ire,': ./:1 t;-'</:A ~ //Y0 ,:: ,ji ~: / / . /[1,:/11/-:'(;" /.M/ ~/;!t;z-;:v/:<~-/-(:-,~ ) _ / lTntarv Public ~ n?', "{ //,' '-;', /,'" /(' / j ,T.'J'...J/ ~ ~/:A.-) /-" ,;r'f{ -,A. - - -< --.i -, ~l!r;/ I~"; \~; [:-'/"5 ___- /: f/ /~ t( ( , . .. .. / - 3 - 8 .......... . 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