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Home My WebLink About0169 I..'E.'- ~,t- i I H'J ["jl=~ '>-,(.J.( :"':ib\..":" 1'.'_' t PECO~IDED IN :=JUNT'I' DF- JEFr[t-:::;Jf\J ST?-1TE ~r~ CCJ~[lP;l[1Cl 5 2~-;' q4 11): J :) / q i..D i DEVELOPMENT COVENANT ~,o~ n THIS DEVELOPMENT COVENANT, as authorized by the SUBDIVISION REGULATIONS of the City of Wheat Ridqe, is entered into this 17th day of March , 1994, between the City of Wheat Ridqe, a Municipal Corporation, hereinafter referred to as City, and Heinz N. and Thea M. silz, hereinafter referred to as Owner, and concerns property located at 4425 Tabor street, Wheat Ridge, Colorado. 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 in Exhibit A attached, and expressly made a part hereof, and which property is hereinafter referred to as "the Property"; and WHEREAS, Owner is in the process of constructing a greenhouse 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: I. 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 Tabor 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 Tabor 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 Tabor 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 Tabor street to current arterial and collector street standards, respectively, including earthwork, one half street width paving, curb, gutter and walk, and miscellaneous and incidental items. ~EVELOPMENT 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 Tabor 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 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 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 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. DEVELOPMENT COVENANT Page 3 13. The DEVELOPMENT COVENANT shall be recorded with the Clerk and IJ Recorder of Jefferson County, Colorado, and constitute a continuing J 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. SPECIAL PROVISIONS AND AGREEMENT IN WITNESS WHEREOF, the parties have set their hands and seals on date first shown. REC / -f{" ~ < <-,- 'community -- APPROVED AS TO FORM: ~~ I ~' , ~/' ) ./"'" I- .. ""[- ,-- .; 1 I ' "} J' .. / - 'F~ r/,If'/' :-, ,fi,tV'i>"-l'L- City Att6rrtey , j EXECUTED BY CITY: ATTEST: ~J.LJ Mayor, city of Wheat Ridge _ jr,t ,( Lt,", ,,,.tl, .<,,_ City Clerk j EXECUTED BY OWNER: //;! /h / (l.i~ . H~inz N. silz ~A \ !J IA U j)) Thea M. Silz ~_.// ,'" i.., . -r STATE OF COLORADO ) ) ss County of Jefferson) The foregoing instrument \ l\i \ day of i \p.< ',~ was acknowledged before me this -~, C'i '~-. , 19jL, by ;/ ',-'I~::1: 1 ) I "J .;-- .{, , , l\1 .J " \-?- My commission expires: t\ ,; :J , I ? ~ ?1 CJ , 19 '11 SEAL NotaryJtU7' /',' / y~ /- ./ /';' ". '-- .'~ "( L ~".- < / <?~ ~~ I . 7500 West 29th(Avenue, t Ridge, CO 80215 / EXHIBIT A Beginning at a point on the East line of Lot Ten (10), 198 feet North of the Southeast corner, thence 210 feet West, thence 132 feet North, thence 210 feet East, thence 132 feet South to point of beginning; and beginning at the Southeast corner of Lot Nine (9), thence 210 feet West, thence 66 feet North, thence 210 feet East, thence 66 feet South to the point of beginning; being that part of Lots Nine (9) and Ten (10) in LEE'S SUBDIVISION in the County of Jefferson, Colorado. Except the South 11 feet of the North 132 feet of the East 210 feet of Lot 10. LEE'S SUBDIVISION, Jefferson County, Colorado. 1... . ~ "! ,., , .<{ 'f J ,- 1