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Home My WebLink About0166 rz~v RECEPTION NO. 93143556 20.00 RECORDED IN COUNTY OF JEFFERSON STATE OF COLORADO DEVELOPMENT COVENANT 9/15/93 9: 15 r:fr \)0 ~. ~ THIS DEV~LOPMENT COVEN~NT, a~ authorized by the SUBDIV~SION REGULATIONS of theq.ty,.o.! Wheat R~dge, 1S entered into this Hi 1\ day of ,~:\C,,\..\ , , 19~3, between the City of Wheat Ridge, a M~n1c1pal c~rporat1on, here1nafter referred to as city, and Bill R. and L1nda S. V1ckroy, hereinafter referred to as Owner, and concerns property located at 3255 Moore Court, Wheat Ridge, Colorado. WITNESSETH: I-t{ WHEREAS, Owner is the titled Owner of a tract Wheat Ridge, County of Jefferson, state of described in Exhibit A, which is attached and hereof (which property is hereinafter referred and of land in the City of Colorado, more fully expressly made a part to as "the Property"); WHEREAS, Owner is in the process of constructing an addition to the existing building and is desirous of obtaining a building permit; and J 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 responsibil i ty 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 . 3. The Owner has caused certain improvements to be constructed on the Property and associated on-site improvements. The existing improvement of Property frontage along Moore Court 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 of the SUB~IVISION REGULATIONS will make no significant change at the present 1n those streets fronting the property. In accordance with section S-45 of the Code of Laws of the ,City of Wheat Ridge, Colorado, Subsection E, the Department of Publ1C Works has determined that the construction of public improve~ents,along the Property frontage of lVloore Court need not be 1mmed1ate~y constructed and that execution of this Development Cov€;nant, 1S appropriate. The Owner agrees to participate in the Eng1neer1ng and Construction cost for the Property's fron~age alon~ Mo~re Court when the street is brought in accordance w1th the C1ty s Street Standards or as directed by the Director of Public Works. The Engineeri~g and Construction costs will ?e limited to those reasonable and necessary to construct a Sldewalk and necessary appurtenances adjacent to Moore Court. 4. .J~ <"~ I~ j f ~. Development Covenant Page 2 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 Moore Court which would affect the Property and will submit to the Owner a detailed cost breakdown and billi~g after Award of the Construction Contract by the City Councll. The detailed cost estimate will include the Owner's portion of the cost of the sidewalk as mentioned 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 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 within 45 days of written notice; Owner further agreeing that any amount resulting from his failure 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 from 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 su1Jsequent ass2s8rnent 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 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 shall constitute a continuing covenant running with the land, providing however, that this DEVELOPMENT COVENANT 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. ~ ~ Development Covenant Page 3 SPECIAL PROVISIONS AND COVENANT This Development Covenant shall be in effect for a period of ten (10) years from the Date of the Agreement. 3 IN WITNESS WHEREOF, the parties have set their hands and seals on date first shown. I /, Al (." 1 /' ~ )-'1-- community ent ~- City i../ APPROVED AS TO FORM: /"r-' '.. .-/;,.,i_\./I\ I City Attorney " ,1 rL J" , i , . EXECUTED BY CITY: / ..> AT~Ej};: d,. City Clerk EXECUTED BY OW~: ~~@l~~ / . , ~"/;, I . JI /"'.1/ / - .- \(~. 1\:.~'1.- \~ ~ G 1- . ~1~~',," ,-. LInda S. Vickroy ,- STATE OF COLORADO ) ) ss County of Jefferson) The foregoing instrument / day of (C L L)jf.(.t r- , 19 11 , by L,1lfJJ) t'iLluy was acknowledged I.~'/ I before me this tJ l II F I : l / I rt, It - '/ I My commission expires: 1/ ( '/ ~l , 19 "/-! . , I - J,' ~.- ). , ./ . I ('~;'. ' > . (\.I.~~" {~ I.. r~ .:: i 7 / { L't /\. "i! '-1' i- / i C ( ) ( 1/1 c~ -J-i ( ',...-. I'" f.. c. ! ~j .,_.<.-....-~- .: '0-_.- ill 1 (d " Il . Notary Public " SEAL / ( L EXHIBIT A LOT 4, BLOCK 8, ROLLING HILLS, BLOCKS 6,7, AND 8, EXCEPT THAT PART DESCRIBED AS FOLLOWS: BEGINNING AT THE SOUTHWEST CORNER OF SAID LOT 4: THENCE NORTHEASTERLY 113. 58 FEET ALONG THE SOUTHERLY PROPERTY LINE OF SAID LOT 4 TO A POINT ON A CURVE BEING THE SOUTHEAST CORNER OF SAID LOT 4; THENCE 23.03 FEET NORTHERLY ALONG A 60 FOOT RADIUS CURVE TO POINT OF TANGENCY (WHICH POINT IS FURTHER DESCRIBED AS BEING ON THE EAST PROPERTY LINE OF SAID LOT 4, 84.50 FEET SOUTH OF THE NORTHEAST CORNER OF SAID LOT 4); THENCE SOUTHWESTERLY 123.45 FEET TO THE POINT OF BEGINNING. COUNTY OF JEFFERSON, STATE OF COLORADO. 4