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1111/11111/111111 ""' 11111111111111111111111111111111111111 ~: ~~ 0 g 0
2008004605 COVE
01/15/2008 02:46:42 PM 7 Page(s)
Jefferson County, Colorado
DEVELOPMENT COVENANT AGREEMENT ~
THIS DEVELOPMENT COVENANT AGREEMENT is made as of ~
the 12th day of October, 2007 by and between the CITY OF WHEAT RIDGE,
COLORADO, a home rule municipal corporation (the "City"), and
Touchstone Holdinas LLC, (the "Applicant"), together referred to as the "Parties".
1
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RECITALS:
WHEREAS, the Applicant is the owner of certain real property located in
the City of Wheat Ridge, which is more particularly described in Exhibit A and
made a part hereof (the "Property"), commonly known as 5220 Quail Street; and
WHEREAS, the City, after holding all required public hearings and
granting all administrative approvals as prescribed by the Wheat Ridge Code of
Laws (the "Code of Laws"), approved the Final Plat for the Property titled Quail
Ridge Estates. Copies of the Final Plat and/or Final Development Plan are
attached hereto as Exhibit S, and is incorporated herein; and
WHEREAS, the Applicant may not in the future be involved with
development of the Property, and in that event should not be responsible for the
site improvements to the Property shown on the approved Final Development
Plan and Final Plat held by the Community Development Department and civil
drawings held in the Department of Public Works of the City, herein referred to
collectively as the "Final Plans"; and
WHEREAS, the Parties understand and agree that the intent of this
Agreement is to establish the obligations and expectations for future
development of the Property in accordance with the Final Plans; and
THEREFORE, in consideration of the mutual promises, covenants and
agreements of the Parties, the approval of the Final Plans by the City, the
dedication of certain land and/or easements to the City and other good and
valuable consideration, the receipt and sufficiency which is acknowledged and
confessed, the Parties hereto agree as follows:
1. Compliance with Final Plan: The entity which develops the Property
("Developer") consistent with the Final Plans, whether the Applicant or a
successor or assign of the Applicant, shall be required to comply with all
applicable sections of Chapter 26, Articles III and IV of the Wheat Ridge Code of
Laws. The Developer shall also furnish all financial guarantees required for
development of the Property by the Director of Public Works and the Community
Development Director acting jointly.
2. Bindino ~ Term: The terms of this Agre,,,,,,,,,,l shall be a covenant
nmning with the F\..........{I and shall 'lC:.>.-=.. in full ~ and shall bind the
Property and the ~... and .......,y... of the r ...;;..... until such time as the :;:2,
Developer executes a Subdivision 1111pR)\"..,,",:.\..~ AgieeJ.tent or Public
Improvement Agre.........,,;,, whichever is a,...~, (1..."","-, ~(O~ to as "Future
~,.......ent") in ..............M... for de:elopment of the Pr",,,,'''.~/. The executed
Future Agreement shall replace this Agreement in its &..;;......[ and shall bind the
Developer to complele aD required :."...,....,~.....""'~ as shown on the Final Plans as
approved by the City of Wheat Ridge Oi."'........ of Public Works and the
Community Development o;"..-.A.. jointly. Once a Future A.,."'....,,"'.l has been
approll"ed by the City and recoo:Ied with the Jeffenlon County CIerl< and
Recorder. this Ag,:,........,...J shall be reL,..,.......J. and the C'1ly shall execute aD
docU."...k. reasonably necesliary to do so.
3'. Sale of Prooertv: No sale of individuaIlot$ or any eolle ction of individual
tots which do not equal the entirety Of the Property as described in Exhibit A
may occur until such time as a Future Agreement has been executed. This
paragraph shall not prevent the Applicant or a De\'eloper from conveying or
selling the "".&.",,:1/ Of the Property to a third party.
4. Issuance of 8tJi!!:Iino PenniIs: The City shall not issue any building .. ",,,,,1
for any individual lot wilhinthe P .....,......~i until an ....."'."'....J Future Agreement has
been executed by the City and the tften.owner of the F""I"<:...J. Building permits
for individuallot$ may be issued by the City conditioned upon compliance with all
terms listed in the Future A...............,t
5. F~ .A~"'...:...,:-J with Oev$loornent of Prooertv: AI building ti"',\.,;~ fees,
paIk land dedication fees, tevieW fees and securily for consIroction of public
;......,....ements shall be paid by the Applicant, or in the event the Property is
conveyed, by the Developer who executes the Future ~."""....ant.. The Applicant
shan not be teSJ)OfISible for the payment of such fees unless the Apprtcant
executes the Future ~..........ent as the Property Developer.
6. Homeowner's Association: The Developer, as executor of the Future
"'""""'......nt. shall be responsible for theestabt",!.......l of and the recordation of
rules governing a h...........vners association for the Property. The ApprlCant shall
not be ."""t'.......lble for the establis'". ,,,,,,, of a (""",..,., mer's ass....;.,.;...l, .....It:..:.,,.
the Applicant is the Developer, the Property may not be developed, and no lots
may be sold prior to creation Of the t"",..,,,.,JIIleIS asso..;..;;u.1.
7. I......."'{e>."...,... to F\,.",...~;: No site WOIk shaD be perfomted on the
Property until a signed Future Agreement has been executed and the proper
permits for the same have been issued by the City. For the purposes of this
PaI'at:P....,c., "site work" is u,,~,..J as any "",..,Q;.."" clearing, excavating or
d.o.t-...-.g of materials in conjunction with site development consistent with the
..............red Final Plans. Nothing in this ",...~ shall prevent the J...,litiOft of
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any""~'& structures or the jf........J .........~'""'_.lle of the PIq)erty, provided
....'........ penniIs are issUed by the City. 3
8. R""........Ji.,.... This A,;"",..,.""",,,:l shall be filed for ."..".."J with the J..:..l1...........
county CleIk andR"".....".i..., the fees for 1IIIhich shall be paid by the Applicant.
Dated this I g: day. of N.O'lCw\-Pet" . 200/.
ClTYOF'[:T
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~ILW7rfi)@()tJ
Getald E. Dahl.. City AUomey
APPLk.AN J) ~ /1
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Print Name
ATTEST:
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EXHIBIT A
LEGAL DESCRIPTION OF THE PROPERTY
KNOW ALL MEN BY THESE PRESENTS: THAT THE UNDERSIGNED, TOUCHSTONE
HOLDINGS, INC., A COLORADO CORPORATION, BEING THE OWNER OF REAL PROPERTY,
DESCRIBED AS FOLLOWS:
s
A PARCEL OF LAND LOCATED IN THE WEST ONE HALF OF SECTION 16, TOWNSHIP 3
SOUTH, RANGE 69 WEST OF THE 6TH PRINCIPAL MERIDIAN, COUNTY OF JEFFERSON,
STATE OF COLORADO, BEING A PORTION OF LAND DESCRlBED IN RECEPTION NO.
83042942, COUNTY PUBLIC RECORDS, INCLUDING A 7.5 FEET, MORE OR LESS, WIDE STRlP
OF LAND DESCRlBED IN RECEPTION NO. 2007001840, MORE PARTICULARLY DESCRIBED AS
FOLLOWS:
NOTE: FOR THE PURPOSE OF THIS DESCRlPTION THE BASIS OF BEARINGS IS THE SOUTH
LINE OF THE NORTHWEST QUARTER OF SECTION 16 AS BEARING NORTH 89032'45" EAST
BETWEEN THE FOUND 3 INCH DIAMETER ALUMINUM PIPES WITH 3-1/4 INCH DIAMETER
BRASS CAPS STAMPED L.S. 13212 MARKING THE SOUTHWEST CORNER AND THE
SOUTHEAST CORNER OF SAID NORTHWEST QUARTER.
COMMENCING AT THE SOUTHWEST CORNER OF SAID NORTHWEST QUARTER OF SECTION
16;
THENCE NORTH 89032'45" EAST ALONG THE SOUTH LINE OF SAID NORTHWEST QUARTER
OF SECTION 16, 1329.63 FEET TO A FOUND 3/4 INCH DIAMETER REBAR WITH 2-1/2 INCH
DIAMETER ALUMINUM CAP STAMPED L.S. 16427 MARKING THE SOUTHWEST CORNER OF
THE NORTHEAST QUARTER OF SAID NORTHWEST QUARTER OF SECTION 16;
THENCE CONTINUING ALONG THE SOUTH LINE OF SAID NORTHWEST QUARTER OF
SECTION 16, NORTH 89032'45" EAST, 15.00 FEET TO THE TRUE POINT OF BEGINNING;
THENCE ALONG THE WEST LINE OF LAND DESCRlBED IN RECEPTION NO. 83042942, BEING
PARALLEL TO AND 15 FEET EAST OF THE WEST LINE OF THE SOUTHEAST QUARTER OF
THE NORTHWEST QUARTER OF SAID SECTION 16, NORTH 00015'09" WEST, 381.40 FEET TO A
FOUND 5/8 INCH DIAMETER REBAR WITH PLASTIC CAP, L.S. 29043;
THENCE NORTH 89032'45" EAST, 447.89 FEET TO A POINT ON THE WEST LINE OF A STRIP OF
LAND DESCRlBED IN RECEPTION NO. 2007001840;
THENCE NORTH 89032'45" EAST, 7.69 FEET TO A POINT ON THE WEST LINE OF SKYLINE
ESTATES FILING NO.2, RECEPTION NO. Fl816752, COUNTY PUBLIC RECORDS, SAID POINT
ALSO BEING ON THE EAST LINE OF SAID STRIP OF LAND;
THENCE SOUTH 00013'03" EAST, ALONG SAID WEST LINE OF SKYLINE ESTATES FILING NO.
2, AND ALONG THE EAST LINE OF SAID STRlP OF LAND, 381.40 FEET, TO A POINT ON THE
SOUTH LINE OF THE NORTHWEST QUARTER OF SECTION 16, SAID POINT BEING THE
SOUTHWEST CORNER OF SKYLINE ESTATES FILING NO.2, SAID POINT ALSO BEING THE
SOUTHEAST CORNER OF SAID STRlP OF LAND;
THENCE SOUTH 89032'45" WEST, ALONG THE SOUTH LINE OF THE NORTHWEST QUARTER
OF SECTION 16, AND ALONG THE SOUTH LINE OF SAID STRlP OF LAND, 7.44 FEET TO THE
SOUTHWEST CORNER OF SAID STRlP OF LAND;
THENCE SOUTH 00015'21" EAST, 181.49 FEET TO THE BASE OF A BENT #4 REBAR; THENCE
ON THE NORTHERLY RlGHT-OF-WAY RlDGE ROAD AS DESCRlBED IN BOOK 184 AT PAGE
132, SOUTH 74044'11" WEST, 463.62 FEET;
THENCE ON THE WEST LINE OF LAND DESCRlBED IN RECEPTION NO. 83042942, BEING
PARALLEL TO AND 15 FEET EAST OF THE WEST LINE OF THE NORTHEAST QUARTER OF
THE SOUTHWEST QUARTER OF SAID SECTION 16, NORTH 00016'33" WEST, 300.00 FEET TO
THE TRUE POINT OF BEGINNING;
CONTAINING AN AREA OF 6.463 ACRES, MORE OR LESS.
HAS LAID OUT, SUBDIVIDED AND PLATTED SAID LAND AS PER THE DRAWING HEREON
CONTAINED UNDER THE NAME AND STYLE OF QUAIL RlDGE ESTATES, A SUBDIVISION OF
A PART OF THE CITY OF WHEAT RIDGE, COLORADO AND BY THESE PRESENTS DO
DEDICATE TO THE CITY OF WHEAT RIDGE AND THE PUBLIC THOSE PORTIONS OF REAL
PROPERTY SHOWN AS RIGHT-OF-WAY, AND DO FURTHER DEDICATE TO THE CITY OF
WHEAT RIDGE AND THOSE MUNICIPALLY OWNED AND/OR MUNICIPALLY FRANCmSED
UTILITIES AND SERVICES THOSE PORTIONS OF REAL PROPERTY SHOWN AS EASEMENTS
FOR THE CONSTRUCTION, INSTALLATION, OPERATION, MAINTENANCE, REPAIR AND
TELEPHONE AND ELECTRIC LINES, GAS LINES, WATER AND SANITARY SEWER LINES,
HYDRANTS, STORM WATER SYSTEMS AND PIPES, DETENTION PONDS, STREET LIGHTS
AND ALL APPURTENANCES THERETO.
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