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Home My WebLink About0146 ~1~ ~y ''''"',/ / / """ DEVELOPMENT COVENANT THIS DEVELOPMENT COVENANT, as authorized by the SUBDIVISION REGU- LATIONS of, the City. of Wheat Ridge, is entered into this 1"".\" day of Lj\JVL. t\;',ch" ,1989, between the City of Wheat Ridge, a Municipal Corporation, hereinafter referred to as City, and Ida Tyler hereinafter referred to as Owner, and concerns property located at 10895 W. 38th Avenue, Wheat Ridge, Colorado. !---~ WITNESSETH: WHEREAS, Owner is the titled Owner of a tract of land in the City of vlheat Ridge, County of Jefferson, State of Colorado, more fully described as Lot 60, WHEAT RiDGE MANOR SUBDIVISION, City of 'Vlheat Ridge, County of Jefferson, State of Colorado, which property is hereinafter referred to as the npropertyn; and WHEREAS, Owner is in the process of constructing an addition to the existing bui lding and is desirous of obtaining a building permit; and WHEREAS, curb, gutter, sidewalk and street improvements bordering the Property and neighboring tracts of land are incomplete and/or below those standards as set forth in the SUBDIVISION REGULATIONS of the City; and WHEREAS, to be uniform and consistent with the existing neighbor- ing improvements, the completion or non-completion of those improvements as required by SECTION FIVE: IMPROVEMEN'l'S of the SUBDIVISION REGULATIONS will make no significant change at the present in those streets fronting the Property and the neighbor- ing tracts of land; and WHEREAS, in order to conform to those requirements as set out in the SUBDIVISION REGULATIONS of the City, this Development Cove- nant is hereby determined to be proper. NOW, THEREFORE, IT IS HEREBY AGREED THAT: 1. The responsibility for providing improvements along the street frontage of the Property, as set out in the SUBDIVISION REGULATIONS of the City, is hereby acknowledged by the Owner. 2. The Owner will cause certain improvements to be constructed on the Property and associated on-site improvements. 3. The existing improvement of property frontage along 38th Avenue is below those standards as set forth in the SUBDIVISION REGULATIONS of the City, and the completion of those improvements as required by Section Five: Improvements of the SUBDIVI SION REGULATIONS will make no significant change at the present in those streets fronting the property. 4. In accordance with Section 5-94.1 of the Code of Laws of the Ci ty of Wheat Ridge, Colorado, subsection E, the Department of Public Works has determined that public improvements along 38th Avenue need not be immediately constructed and that execution of this Development Covenant is appropriate. The a"mer agrees to participate in engineering and construction costs for the property's frontage along 38th Avenue when the street is brought in accordance with City street standards, or as directed by the Director of Public Works. The engineering and construction costs will be limited to those reasonable and necessary to construct 38th Avenue to current collector street standards, including earthwork, one half street widtt, paving, curb, gutter and walk, and miscellaneous and incidental items. RECORDED IN COUNTY OF JEFFERSON STATE OF COLORADO RECEPTION NO. 89101623 11/22/89 15:37 15.00 Development Covenant 10895 W. 38th Ave. - Page 2 5. The Director of Public Works will give written notice and an estimate of costs to the Owner 30 days prior to advertisement of any major improvements to 38th Avenue which would affect the Property and will submit to the Owner a detailed cost breakdown and billing after Award of the construction contract by City Council. The detailed cost estimate will include the Owner's portion of the cost of curb, gutter and sidewalk, pavement improvements and other items listed in Paragraph 4. J- 6. Upon receipt of the detailed cost estimate or billing, the Owner hereby agrees to pay to the City, within 45 days, the full amount of the detailed cost estimate or billing. The Owner also agrees to pay to the City any extra costs associated with the Public Improvements to the property due to variations in esti- mated contract quantities or as a result of change orders within 30 days of written request for payment by the City. The City will pay to the Owner any overcharges paid by the Owner within 45 days after final acceptance of the public improvements. 7. Owner agrees to pay for all public improvements or billings so made within 45 days of writt.en notice; Owner further agreeing that any amount resu1ting from his failure to pay for any improvement or Li11 ing this completec shall consti tute a lien upon the property above described in the actual amount of the public improvements or billing completed, less any payments by Owner, plus interest in the amount unpaid at 10 percent (10%) per annum, from the date of final acceptance or billing, plus any costs incurred by the Ci ty in collecting same, including court costs and attorney fees. 8. 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 REGULATIONS as they exist at the date of execution of this Covenant, for curb, gutter, sidewalk related street and drainage improvements, solely relating to those streets fronting on the property and neighbor- ing tracts of land, the Owner or his assigns and successors agree not to oppose its creation, or subsequent reasonable assessment of the costs to the property. 9. In the event an Improvement District is created by the City to provide the improvements as provided by the SUBDIVISION REGU- LATIONS, the costs assessed against the property shall not be disproportionate with costs assessed to other nearby and like properties. 10. This DEVELOPMENT COVENANT is executed by the Owner pursuant to the SUBDIVISION REGULATIONS of the City of Wheat Ridge. 11. The Parties hereto agree that this DEVELOPMENT COVENANT, by its terms, shall be binding upon the City and the Owner and upon the assigns and successors thereof; and shall constitute cov- enants running with the property for a period of ten (10) years from date of execution by the Owner. 12. The City, in its sole discretion, may require a cash or surety bond to be held in escrow by the City to secure completion or the pub1ic improvements described herein. Such cash or surety bond sha11 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 Paragraph 5 above. Any interest earned on any escrow funds shall be the sole property of the City. 13. This DEVELOPMENT COVENANT shall be recorded with the Clerk and Recorder of Jefferson County, Colorado, and shall constitute a continuing covenant running with the land, providing however, RECEPTION NO. 89101623 Development Covenant 10895 W. 38th Ave. - Page 3 that this DEVELOPMENT COVENANT shall be released by the City upon the completion of the public improvements and complete and satis- factory payment by the Owner of all costs and fees associated ~ therewith 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 COVENANT This Covenant shall be in effect for a period of ten (10) years from date of execution. IN WITNESS WHEREOF, the parties have set their hands and seals on date first shown. RECOMMENDED BY: ~~M--- Pub ic Work Department , /--). ,'.(, //L City Administrator / ~ TO FORK'; , /---.------:. c> APPROV~}2 EXECUTED BY CITY: \ c/ttorney ATTEST: ~~ Mayor, City of Wheat Ridge (~~ . _::: /t' /~ /! Ci ty Clerk y __ ,'I Y. \ , , "~t , , / ( J , I I" \. I , 1 /,'>,-' I Tyler ,\. ( l : ~ _1 EXECUTED BY OWNER: Ida STATE OF COLORADO ) )ss County of Jefferson) The foregoing instrument was acknowledged before me this ,:(/!J day Of'/J~Lc<"'nL,~ , , 1989, by L>--~,{ ~1. 7c"" (( \ My commission explres: C I ' vi,) , 19 '/5 . y " /} jl ,:;J /, /5CL-LL_LA ,/l-I /0 L" -Lt_ "--,0(. _J Notary Public L1, iL '/ {' / ILj'L-~ ,/Y ~ c,( 9J' ? ' ." ~ ~~<l~ . . . ': c~1\I.' .....,' i:)~.i '~--: " k_ , 'r ~e " > "'~~' . RECEPTION NO. 89101623