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Home My WebLink About0126 ---~ {i r(Q v 0-. 0- z o -.,r to 00 a::: 0 in w<!co LL..O::: L. 0 .-.,r W -l 0 ;:= ::Z:JO::Z:~ H U '\ L. ::z: 00 Li... C I.f1 W OHCO 0>- f-"- O::f-Wa.Cl oz~WT- w:::t<tu,,- WlO!-Wi.:J 0:: t.:J 01 a::: a - ~---~ // r i ~ R [['LI I 1'-N NO. 8~jO,-,:9 'I '/ DEVELOPMENT AGREEMENT THIS DEVELOPMENT AGREEMENT, as authorized by the SUBDIVISION REGULATIONS of the CITY OF WHEAT RIDGE, is entered into this :z, C:!- day of fL~, I I , 19 ~'"' , between the City of Wheat Ridge, a Muni~rpal Corporation, hereinafter referred to as City, and j)/J..A./If::;Z <..9-HNE/[)t.R , hereinafter referred to as Owner, and concerns property located _ 60(.)71-1 OF t-L1C':$/ _7.):r7.t AlIeVu6 &=7t<-1EC::A.! M4R..$HAu AND NE7,(...kAtJ.LJ WITNESSETH: 1.- 3 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 PropertyN); and Cl Cl WHEREAS, Owner desires been issued a Building to do so; and to develop the p~opertY7but/h~~not Permit as of _~I I ,.::>, 1-( ";:l) / 0- WHEREAS, curb, gutter, sidewalk and street improvements bordering 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: IM- PROVEMENTS of the SUBDIVISION REGULATIONS will make no significant change at the present in those streets front- ing 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 provid- ing those requirements as set out in the SUBDIVISION REGU- LATIONS 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 requirements as set out in the SUBDIVISION REGULA- TIONS 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 REGU- LATIONS 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 SUBDIVI- SION REGULATIONS of the City. 4. Owner agrees to construct, or cause to be constructed, all public improvements required hereby within 3(7 days of the receipt of the notice described in the preceding para- graph. 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 subcontractors, and to complete the public 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 -- RECEPTION NO. 85043919 Development Agreement Page -2- 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. '"' ~ 5. In the event an Improvement District or a Special Improve- ment District is created by the City to improve or provide those requirements as set out in the SUBDIVISION REGULA- TIONS for those streets or streets fronting the Property and the neighbor ing 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 SUBDI- VISION REGULATIONS, the costs assessable against the Prop- erty shall not be disproportionate 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. Such cash or surety bond shall be in the sum sufficient to cover the estimated costs of the construction of the public improvements described herein, said estimate to be made at or about the time of the notice described in Para- graph 2 above. In the event the Owner fails to complete the public improvements within the time specified in Para- graph 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 improvements. Any interest earned on any escrow funds shall be the sole property of the City. 10. The DEVELOPMENT AGREEMENT shall be recorded with the Clerk and Recorder of Jefferson County, Colorado, and shall consti tute 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 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: Development Agreement Page -3- IN WITNESS WHEREOF, date first shown. ....r- RECEPTION NO. 85043919 " the parties have set their hands and seals on ~-~ I ,.-"""> (I i!... -----/ Wi \...~. '~, M/(/-p ~ J . i/ G 1/1~~../ Clt Admlnistrator EXECUTED BY CITY: /'/' '4~..A .A-A~_ _ Mayor, City of Wheat Ridge STATE OF COLORADO ) )ss COUNTY OF JEFFERSON ) -') "-.) _~r , " < /'" "" I, -"" / '-;./ L-"C ,,-..., <+ ,/ -4.......-r--~~ COmfuunity Development Department APPROVED~O ~?R~: / I - l- I < / I,' ) / / { (I I ' 1/-~-- C~Attorney ,I / '/ day of The foregoing instrument was acknowledged before me this 1st May , 19 85 by Frank Stites as Mayor and . ~Ld~ ~br,c 7500 W. 29th Ave. z OJ \f), [1l l> r My commission expires wanda Sang as city Clerk, City of Wheat Ridge. 11/16/85 EXE1tlTED BY QWNER.: MJ/fLA~ Wheat Ridae, CO 80033 STATE OF COLORADO ) City & County of )ss d0YNTY/0V/JEVVER$Q~Y DENVER The foregoing instrument was acknowledged before me this 3rd day of April 19 8 5 , by DANIEL F. SCHNEIDER My commission expires: ~' 1"":'kl "",.-.C>"'" , 19 My Commission expires November 7, 1988 2300 15th St. Suite 330 Denver, Colorado 80202 .~.~--4' Notary Public ~ ~ d I , 'tbss '<<- ~ -::-~ ~~I' I ~(',~ /, J" ~, ~~~~ I5Uti/ '-