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Home My WebLink About0147 1/; DEVELOPMENT COVENANT 0_~7) ,....... THIS DEVELOPMENT COVENANT, as authorized by the SUBDIVISION REGULATIONS of the City of Wheat Ridge, is entered into this sixth day ot February , 1 ~ ~ U, between the City of Wheat Ridge, a Municipal corporation, hereinafter referred to as City, and WIDE HORIZON, INC., hereinafter referred to as Owner, and concerns property located at 89UO WES'l' 38TH AVENUE, WHEA'l' RIDGE, CO H0033. / --1 II I U WITNESSETH: WHEREAS, Owner is the titled Owner of a tract of land in the City of Wheat Ridge, County of Jetferson, state of Colorado, more fully described in Exhlbit A, which lS attacned and expressly made a part hereof (which property lS hereinafter referred to as Rthe Property'); and WHEREAS, Owner was issued a Building Permit in November ]989 for a major addition to the site; and WHEREAS, Owner desires to obtain a Certificate of Occupancy for the major addition; and WHEREAS, in order to conform to those requirements as set out in the SUBDIVISION REGULATIONS of the City, this Agree- ment is hereby determined to be proper. NOW, THEREFORE, IT IS HEREBY AGREED THAT: 1. The responsibility for providing improvements along the 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 has caused certain constructed on the Property and improvements. lmprovements to be associated on-site 3. The existing improvement of Property frontage along West 38th Avenue is below those standards as set forth in the current SUBDiVISION REGULATIONS of the City, and the completion of those improvements as required by Section Five: Improvements ot the SUBDiVISION 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 City of Wheat Ridge, Colorado, Subsection E, the Department of Public Works has determined that the construction of public improvements along the Property frontage of West 38th Avenue need not be immediately constructed and that execution of this Development Covenant is appropriate. The Owner agrees to participate in the Engineering and Construction cost for the Property's frontage along West 38th Avenue when the street lS brought in accordance with the City's Street Standards, or as directed by the Director of Public \\1orks. The Engineering and Construction costs will be limited to those reasonable and necessary to construct West 38th Avenue to current Collector Standards, including earthwork, one half street width paving, drainage, curb, gutter and walk and miscellaneous and incidental items required to complete the Project. s. The Director of Public Works shall give written notice and an estimate of costs to the Owner 30 days prior to advertisement of any major improvements West 38th Avenue which would affect the Property and will submit to the Owner RECORDED IN LOUNT) OF JEFFERSON STATE OF COLORADO RECEPTION NO. 9001248J 02/12/90 14~14 20.00 DEVELOPMENT COVENAN,[' Page 2. a detailed cost breakdown and bllling atter Award ot the Construction Contract by the City Councll. The detailed cost estimate will lnclude the Owner's portion of the cost at curb, gutter and side\',alk, pavement improvements and ), other items listed in Paragraph 4. o. Upon receipt ot the detailed cost estimate or billing, the Owner hereby agrees to pay to the City, within 45 days, the tull amount ot 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 estimated contract quantities or as a result of change orders within 30 days of written request by the City. The City will pay to the Owner any overcharges paid to the City by the Owner within 45 days after final acceptance of the Public Improvements by the City. 7. Owner agrees to pay for all public improvements or billings wi thln 45 days ot written notice; Owner turther agreeing that any amount resulting from his fallure to pay for any improvement thus completed shall constitute a lien upon 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 (10%) per annum trom the date of completion, plus any costs incurred by the City in collecting same, including court costs and attorney's 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 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. 9. In the event an Improvement District is created by the City to provide the improvements as provided by the SUBDIVISION REGULATIONS, the costs assessed against the property shall not be disproportionate with costs assessed to other nearby and like properties. 10. This 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 covenants running with the property. 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 public improvements described herein. Such cash or surety bond shall be in the sum sufficient to cover the estimated costs ot the construction ot 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. The DEVELOPMENT COVENANT shall be recorded with the Clerk and Recorder of Jefferson County, Colorado, and shall constitute a continuing covenant runnlng with the land, providing however, that this DEVELOPMENT COVENANT shall be released by the City upon the completion of the public 'toD '\ ,:;its.:\ RECEPTION ~HI. RECEPTION NO. 90012~81 DEVELOPMEN'I' COVENAN'l' Page 3 lmprovements and complete and satisfactory 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 Development Covenant shall be in effect for a period of ten (10) years from the Date of the Agreement. IN WITNESS WHEREOF, the parties have set their hands and seals on date first shown. ~~-^,~ 6 c-<-Lt Public Works Department Department RECOMMENDED BY: ~ ~ /' '-- /. ' City Administrator APPROVED AS ~O FO~: ./ /'//; ) / / /~ " City'Attorney f EXECUTED BY CITY: ATTEST: ~J~ Mayor, City of Wheat Ridge //, / , ","--.-_ <-L.;.- :... (. L...c. City Clerk , _C-t:.C /1 " / /.' -i ..."..... ~ /::.."'" SEAL EX~CUTfD BY OWNER: /! ., 'Wide H~::i,zon, Inc, 'I r - '! . L-'~ I ' i l'~//t( ./ ~-Cyr/{1iIt - (/~({{rc~ I.v~ p.l.;'t t/{ t' (c' I-ff0-(ft--t~ L- ~ 7 / ~P'.:z- '<..: ~. ~. ~ ~_ ~ 1 \1i1,\ " \ \ \, \" -', "'-~" '.~ :":' -;"'-', "-"'...",:~ ,4,. ". ...- ~ -...~~_. ._,-, .i' .>''''-;'o~o c . ~, '1 ~. STATE OF COLORADO ) )ss County of Jefferson) , .Jr ...._, . '" was acknowledged before me this 90 William E. Farrell, Chairman 19_, by Secretary/Treasurer 'sHd'h The foregoing instrument February day of and Lawrence A. Backus. October 3. 92 , 19 My commission expires: :... ; I ) .1{; . "rJ.."'-i' r. Jv JA;"uLvL.- Notary P lie .A SEAL EXHIBIT A 8~OO WEST 38TH AVENUE, WIDE HORIZON, INC. ;l DESCRIPTION: PARCEL I The West one-halt of the East one-halt of the Northwest Quarter ot the Northeast Quarter at Section '27, Township 3 South, Range 6~ West of the 6th P.M., EXCEPT those portions conveyed to Jefferson County by instruments recorded in Book 438 at Page 214 and Book 85~ at Page 153. PARCEL II The East one-halt of the West one-halt of the Northwest Quarter of the Northeast Quarter of Section 27, Township 3 South, Range 6~ West of the 6th P.M., EXCEPT that portion conveyed to Jefferson County by instrument recorded in Book 85~ at Page 153. PARCEL III The South 400 feet of the North 6~0 feet of the East one-half of the West one-half of the West one-half of the Northwest Quarter of the Northeast Quarter of Section '27, Township 3 South, Range 6~ West of the 6th P.M. PARCEL IIII The East one-halt ot the West one-halt ot the West one-halt of the Northwest Quarter of the Northeast Quarter of Section 27, Township 3 South, Range 6~ 'itlest of the 6th P.M., EXCEPT the North 690 feet thereof and EXCEPT the south 205 feet thereof. excepting from the above describe parcels those portions granted to the Rocky Mountain Water Company by instrument recorded April 4, 1884, in Book 26 at Page 75, and to the Table Mountain Water Company by instrument recorded September 7, 1882 in Book '2~ at Page 107. RELEPTION NO. 90012483