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RECEPTION NO. F0520329 16.00
052 RECORDED IN JEFFERSON COUNTY COLORADO
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12/08/97 9:28:09
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 ~day of August "
1997, between the City of Wheat Ridge, a Municipal Corporation, I
herelnafter referred to as City, and Ashley Manor Care Centers, Inc.,
hereinafter referred to as Owner, and concerns property located at 3802
Parfet, 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 Haas SUbdivision, Lot 1, 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 a new residence 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 W. 38th Avenue
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 W. 38th Avenue need
net be iI.miecll.ately cOll;;cruc1:.ed 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 W. 38th Avenue 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 ~
38th Avenue to current local street standards, including earthwork,
one half street width paving, curb, gutter and walk, and
miscellaneous and incidental items.
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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 W. 38th Avenue which would affect the 2
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 ctays, 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 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 in~errst earned on any escrow funds shall
be the sole property of the city.
12. 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.
RECEPTION NO.
F0520329
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DEVELOPMENT COVENANT
Page 3
IN WITNESS WHEREOF, the parties have set their hands and seals on date ~
first shown. _.-1
RECO~O BY,
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City Ifa~ger J-
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C munlty Development Department
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Cit:y Attorney
EXECUTED BY CITY:
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Mayor, City of Wheat Ridge
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City
EXECUTED BY OWNER:
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STATE OF COLORADO )
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County of Jefferson)
The
instrument was acknowledged befo~e me this
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SEAL
RECEPTION NO.
F0520329