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CnUNff OF JEFFERJON
STATE OF COLORADO
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DEVELOPMENT COVENANT
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THIS DEVELOPMENT COVENANT, as authorized by the SUBDIVISION REGULATIONS
of the City of Wheat Ridge, is entered into this 4th day of
December , 1992, between the City of Wheat Ridge, a Municipal
Corporation, hereinafter referred to as City, and Kevin Hansmann &
Andrea Falvey, hereinafter referred to as Owner, and concerns property
located at 3994 Eaton street, Wheat Ridge, Colorado.
1~3
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 Block 21, stewart Gardens Subdivision, City of Wheat Ridge,
County of Jefferson, State of Colorado, which property is hereinafter
referred to as the "Property"; and
WHEREAS, Owner is in the process of constructing an addition to the
existing building and associated improvements 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 neighboring
improvements, the completion or non-completion of those improvements as
required by SECTION FIVE: IMPROVEMENTS of the SUBDIVISION REGULATIONS
will make no significant change at the present in those streets fronting
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 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 has caused certain improvements to be constructed on the
Property and associated on-site improvements.
3. The existing improvement of property frontage along Eaton Street 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 SUBDIVISION REGULATIONS will make no
significant change at the present in those streets fronting the
property.
4. In accordance with Section 5-45 of the Code of Laws of the City of
Wheat Ridge, Colorado, subsection E, the Department of Public works has
determined that public improvements along Eaton Street need not be
immediately constructed and that execution of this Development Covenant
is appropriate. The Owner agrees to participate in engineering and
construction costs for the property's frontage along Eaton Street 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 Eaton Street to current local street standards, including
earthwork, one half street width paving, curb, gutter and walk, and
miscellaneous and incidental items.
5. 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 to Eaton 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.
Kevin Hansmann
Andrea Falvey
Development Covenant
Page 2
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.
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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 estimated 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 to the
City by the Owner within 45 days after final acceptance of the Public
Improvements.
7. Owner agrees to pay for all public improvements or billings within
45 days of written notice; Owner further agreeing that any amount
resulting from his failure to pay for any improvement or billing this
improvement completed shall constitute a lien upon the property above
described in the actual amount of the public improvements or billing
completed, less any payments made by Owner, plus interest on the amount
unpaid at 10 percent (10%) per annum from the date of final acceptance
or billing, 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 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 neighboring 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 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 for a period of ten (10) years from the 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 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.
13. The DEVELOPMENT 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 DEVELOPMENT
AGREEMENT 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 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.
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Kevin Hansmann
Andrea Falvey
Development Covenant
Page 3
SPECIAL PROVISIONS AND AGREEMENT
This Development Covenant shall be in effect for a period of ten (10)
years from the date of execution.
3
IN WITNESS WHEREOF, the parties have set their hands and seals on date
first shown.
RECOMMENDED BY:
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Public Works Department
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City Admini~trator
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EXECUTED BY CITY:
EXECUTED BY OWNER:
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Kevin Hansmann
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Andrea Fa.1 vey,~1
STATE OF COLORADO )
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County of Jefferson)
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APPROVED ~ TO F,qlUl:. /
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The foregoing instrument was acknowledged before me this
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