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Home My WebLink About0128 D n .' ,I, \...It , F: [: L ' 'P D [: U I i\1 I., vUN I '1- ,')F ICFFCP ':;',ii'~ ,.~ i'l~'1 r L. OF C( 'I...(il~ I,\D') h. [l, [I" I Iod NO" D6U'''; ,"'j"'; 'I J.J I::j / ,.:~ I..: I :.3li "3:: ~:., l:.:j ') " U iJ DEVELOPMENT AGREEMENT THIS DEVELOPMENT AGREEMENT, as authorized by the SUBDIVISION REG9L!\,T)ONS of the ,~'IlY OF WHEAT RIDG,e'1 is entered into this 17tL:.. _day of '// //at/ , 19 CJ~ , between the City of Wheat Ridge, a Municipal, orporation, hereinafter referred to as City, and John Jacks n , hereinafter referred to as Owner, and concerns property located at 12350 W. 42nd Avenue, Wheat Ridge CO '-~--l'- -3 WITNESSETH: WHEREAS, Owner is the ti tled 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 April 30, 1986 to do so; and WHEREAS, curb, gutter, sidewalk and street improvements border ing the Property and the ne ighbor in,::! 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 imt-Jrovements as requi red by SECTION FIVE: 1/1'1- PROVEMENTS of the SUBDIVISION REGULATIONS wi 11 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 as follows: Construct street pavement on 42nd Avenue from the centerline south 18 feet which will in- clude a 6-inch asphalt berm to control drainage. This to be the length of the frontage of the property. 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 30 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 FLCLI" CHiN Ni)" H;<.,I.J'''ii,'''/.'j'j 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 2 costs and attorney's fees. 5. In the event ar. 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 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 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: RELEPTluN NO. 8605~551 Development Agreement Page -3- IN WITNESS WHEREOF. the parties have set their hands and seals on date first shown. 1?b,~~~~~~ Public Works Department epartment -3 RECOMMENDED BY: /il0~Ui-b n. ~{:J~ City Administrator EfY". :-::--':" ~ '" (.j:.- . ".. < .. ..\~, ~.. . , ;;" . t'''; EXECUTED BY CITY: ~l <",,' " ~ ,~ J Ath,L. C'i;j:~," Mayor. City of Wheat Ridge ';;..~~:.::.. APPROVE~/r:O FOR1. /, ? /' ( , / ATTEST J/ ,:::- t.--;?..-- / City Clerk :f. v7"'-,rtj /- STATE OF COLORADO ) )ss COUNTY OF JEFFERSON ) The was aCknowled~, be' re me thb 1?t:C,- ,:',:' Ill98& by ~~: I. ( day My commission expires . //'/' c/ ., ~~V~ r Public ~~VO ~ ()~d~ ~!kd' ~ (~ rgOC'E F' J EXECrO B~ER' o 0 '..!!~ ~ &-.- Co ea:83> STATE OF COLORADO ) )ss COUNTY OF JEFFERSON) The foregoing instrument was acknowledged before day of 19~, by me thi~ ,-:v.l ~ t ~ _ ';''''> .... _ .... ~ r> , ~~~,~,._. ~. ,,,-',, =- .: ' i'- - -- My commission expires: , 19_. '-O~', ./.' ~,. ~-,' ~ Notary ~\:.L ~SOO ~l'l:l; ~ \N a.... ~r- Q...O ~tJD8J-