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RECEPTION NO. F0726817 16.00
052 RECORDED IN JEFFERSON COUNTY, COLORADO
DEVELOPMENT COVENANT
PG: 0001-003
11/02/1998 14:36:20
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THIS DEVELOPMENT COVENANT, as authorized by the SUBDIVISION REGULATIONS
of the City of Wheat Ridge, is entered into this 7th day of October,
1998 between the City of Wheat Ridge, a Municipal Corporation,
hereinafter referred to as City, and Mr. Leo Davis, hereinafter referred
to as Owner, and concerns property located at 10277, 10287 & 10297 W. \ ~ ~
~lst Avenue, 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 as Lot 8, Green Valley Subdivision, City of Wheat Ridge,
County of Jefferson, State of Colorado, which property is hereinafter
referred to as the "Property"; and
WHEREAS, Owner lS 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 ~ECTION 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.
). The Owner has caused certain improvements to be constructed on the
Property and assoclated on-site improvements.
l. The existing improvement of property frontage along Lot 8, Green
Valley Subdivision is below those standards as set forth in the
SUBDIVISION REGULATIONS of the City, and the completion of those
improvements as required by Section rl.ve: Impl-ovements of the
SUBDIVISION REGULATIONS will make no significant change at the
present in those streets fronting the property,
<1. 1 n dcc"onliln"e wi t,h 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 10277, 10287 & 10297
"'--,--_~.L:'3t Avenue 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 l0277, l0287 & 10297 W. 41st AveDue when
the street is brought in accordance with City streec 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 10277, 10287 & 10297 W. 41st Avenue to
current local street standards, including earthwork, one half
street width paving, curb, gutter and walk, and miscellaneous and
incidental items.
RECEPTION NO.
F0726817
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 10277. 10287 & 10297 W. 41st Avenue 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
4~ ddYS 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 (lO%) 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 1S 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.
'J .
In the event an Improvement District is
provide the improvements as provided by
TIONS, the costs assessed against the
disproportionate with costs assessed to
properties.
created by the City to
the SUBDIVISION REGULA-
property shall not be
other nearby and like
lu. Th1S 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
1n the sum sufficient to cover the estimated costs of the
const.ruct ion of the publ ic 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.
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.
F0726817
DEVELOPMENT COVENANT
Page 3
SPECIAL PROVISIONS AND AGREEMENT
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
runnlng with the property for a period of ten (10) years from the
date of execution by the Owner.
IN WITNESS WHEREOF, the parties have set their hands and seals on date
first shown.
RECOMMENDED BY:
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p' bliC~~~S Department
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COmmunity Development Department
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EXECUTZ. BY CITY:
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EXECUTED BY OWNER:
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city Clerk -_J
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STATE OF COLORADO )
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County ot Jetferson)
The foregoing instrument was acknowledged before me this
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Notary Public
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