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RECEPTION NO.
8/02/91 14:05
RECORDED IN
COUNTY OF ,JEFFERSON
STATE OF COLORADO
DEVELOPMENT COVENANT
91069789
15.00
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THIS DEVELOPMENT COVENANT, as authorized by the SUBDIVISION
REGULATIONS of the City of Wheat Ridge, is entered into this
24th day of June , 19...21, between the City of
Wheat Ridge, a Municipal Corporation, hereinafter referred to as
City, and Robert L. Johnson, hereinafter referred to as Owner,
and concerns property located at 4590 Parfet Street Wheat Ridge,
Colorado.
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WITNESSETH:
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 as I,ot 1, Robert Johnson Subdivision City of
Wheat Ridge, County of Jefferson, State of Colorado, which
property is hereinafter referred to as the "Property.; and
vIHEREAS, Owner is in the process of constructing a new residence
and associated improvements and is desirous of obtaining a build-
ing 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 SUBDIV1SION 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 SEC'rION FIVE: IMPROVF:~1EN'l'S of the
SUBDIVISION REGULA'l'IONS will make no signifj cant change at the
present in those streets fronting the Property and the neighbor-
ing tracts of land; and
HHEREAS, 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 responsibi 1 j ty for providing improvements along the
street frontage of the ProIJerty, as set out in the SUBDIVISION
REGULATIONS of the City, is hereby acknowledged by the Owner.
2. The Owner has caused certain improvements to be constructed
on the Property including a new residence and associated on-site
improvements.
3. The existing improvement of property frontage along Parfet
Street is below those standards as set forth in the current
SUBDIV1SION REGUI,A'l'JONS of the City, and the completion of those
improvements as required by Sect.ion Five: Improvements of the
current SUBDIVISION REGULA'l'IONS will make no significant change
at the present in those streets fronting the property.
4. The Departnlent. of Public works has determined that public
improvements along Parfet Street need not be immediately con-
structed and that executlon of this Development Covenant is
appropriate. The Owner agrees to participate in engineering and
construction costs for the property's frontage along Parfet
Street when the street is brought in accordance with City street
standards, or as directed by the Director of Public \'Vorks. The
engineering and construction costs will be limited to those
reasonable and necessary to construct Parfet Street to current
local street standards, including earthwork, one half street
width paving, curb, gutter and walk, and miscellaneous and inci-
dental items.
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DEVELCJPHEN'l' COVENANT
Page 2
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5. The Director of Publlc Works shall give written notice and an
estimate of costs to the Owner 30 days prior to advertisement of
any major improvements to Parfet Street 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 and associated
pavement improvements and other items listed in Paragraph 4.
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 I)
agrees to pay to the City any extra costs associated with the ~
Public Improvenlents to the Property due to variations in estimat-
ed 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 bi llings
so made within 45 days of written notice; Owner further agreeing
that any amount resulting from his fai lure to pay for any im-
~rovement or billing thus completed shall constitute a lien upon
the property above described in the actual amount of the public
improvements or bilU ng complet.ed, less any payments made by
Owner, plus interest on the amount unpaid at 10 percent (10%) per
annum fronl the date of final acceptance or billing, plus any
costs incurred by the City in collecting same, including court
costs and at.torney'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 REGULA'l'IONS as they
exist at the date of execution of this Covenant, for curb, gut-
ter, 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 REGULA-
TIONS, 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 SUBDI-
VISION 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 consti tute cove-
nants running wlth 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
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.
RECEPTION NO. 91069789
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DEVELOPMEN'l' COVENANT
Page 3
13. The DEVELOPHEN'l' COVENANT shall be recorded with the Clerk
and Recorder of Jefferson County, Colorado, and constitute a
continuing covenant running with the land, providing however,
that this DEVELOPMEN1' AGREE~'lENT shall be released by the City
upon the completion of the public improvements and complete and
satisfactory payment by the Owner of all costs and fees associat-
ed therewith of the public improvements described herein, which
release shall be eVldenced by a signed document attested to by
the City Clerk and bearing the City's seal, which document shall
likewise be recorded.
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IN WITNESS WHEREOF, the parties have set their hands and seals on
date first shown.
epartment
RECOMMENDED BY:
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Public Works epartment
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City Administrator
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EXECUTED BY CITY:
LJc'.-A.<_lct..e~
Mayor, City of Wheat Ridge
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Ci tyClerk
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EXECUTED BY OWNER:
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STATE OF COLORADO )
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County of Jefferson)
The foregoing instrument was acknowledged before me this ~~/~
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day of "rL-IU , 19 ,/I , by fLcbel't L -.J'Ch175N7 c111d
J&f"ddrd: ,T ...J{i/lmC?j/7
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My commission expires:
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kud.~/(> '/( ~ijt'7L'P
Notary Public ~
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RECEPTION NO. 91069789