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RECEPTION NO. F 16 C"-~ (:,') 1
11/15/2002 12:34:04 PG: 001-016
PRGE FEE: 81.00 DOC.FEE: 0.00
RECORDED IN JEFFERSON COUNTY, COLORADO
I
SUBDIVISION IMPROVEMENT AGREEMENT
THIS AGREEMENT made this 25 day of October 2002, by and between the CITY
OF WHEAT RIDGE, COLORADO, a home rule municipal corporation (the "City"), and The
Buckeve Group. LLC A Colorado Limited Liability Company and Mr. Jim Huqgins,
(the "Developer"), together referred to as the "Parties"
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RECITALS.
The Developer is the owner of certain real property located in the City of Wheat
Ridge, which is more particularly described in Exhibit A, if applicable, and made a part
hereof (the "Property"), commonly known as 6380 W. 39th Avenue, 6390 W. 39th
Avenue, and 6455 W. 38th Avenue
On Julv 8, 2002, the City Council of the City of Wheat Ridge, after holding all required
public hearings, approved the final plat for the Property titled Cavness - HUQQins Minor
Subdivision A copy of the Final Plat is attached hereto as Exhibit B and incorporated
herein
The approvals cited above are contingent upon the express condition that all duties
created by this Agreement be faithfully performed by the Developer
AGREEMENT
NOW, therefore, for and in consideration of the mutual promises and covenants
contained herein, the sufficiency of which are mutually acknowledged, the parties hereto
agree as follows
1 Purpose The purpose of this Agreement is to set forth the terms, conditions,
and fees to be paid by the Developer upon subdivision of the Property All conditions
contained herein are in addition to any and all requirements of the City of Wheat Ridge
Subdivision Ordinance and Zoning Ordinance, the City of Wheat Ridge Charter, any and
all state statutes, and any other sections of the City of Wheat Ridge Municipal Code and
are not intended to supersede any requirements contained therein
2 Other Requirements All grading and drainage requirements per the
approved drainage report shall be completed at this time
3 Fees The Developer hereby agrees to pay City Development Review fees
to the City for engineering, hydrological, surveying, legal, and other services rendered in
connection with the review of the subdivision of the Property
4 Title Policy A title commitment for the Property shall be provided to the City
The title commitment shall show that all property to be dedicated to the City is or shall be,
subsequent to the execution and recording of this Agreement, free and clear of all liens
and encumbrances (other than real estate taxes which are not yet due and payable) The
City, in its sole discretion, may accept any dedication regardless of encumbrances The
SUBDIVISION IMPROVEMENT AGREEMENT 5/01
title policy evidenced by the title commitment shall be provided thirty (30) days after the
recording of this Agreement.
5 Breach by the Developer; the City's Remedies In the event of a breach of
any of the terms and conditions of this Agreement by the Developer, the City Council shall
be notified immediately and the City may take such action as permitted and/or authorized
by law, this Agreement, or the ordinances and Charter of the City as the City deems
necessary to protect the public health, safety and welfare, to protect lot buyers and
builders, and to protect the citizens of the City from hardship and undue risk, These
remedies include, but are not limited to
(a) The refusal to issue any building permit or certificate of occupancy:
(b) The revocation of any building permit previously issued under which
construction directly related to such building permit has not commenced,
except a building previously issued to a third party,
(c) A demand that the security given for the completion of the Public
Improvements be paid or honored, or
(d) Any other remedy available at law or in equity
Unless necessary to protect the immediate health, safety and welfare of the City or to
protect the City's interest with regard to security given for the completion of the Public
Improvements, the City shall provide the Developer thirty (30) days written notice of its
intent to take any action under this paragraph during which thirty day period the Developer
may cure the breach described in the notice
6 Public Improvements and Warranty All storm sewer lines, drainage
structures, paved streets, including curb, gutter and sidewalk, and necessary
appurtenances as shown on the subdivision plat and the associated construction
documents (the "Public Improvements" or "Improvements") as approved by the Director of
Public Works or designee of the City, shall be installed and completed at the expense of
the Developer within the time frames set forth on Exhibit C The Public Improvements
required by this Agreement and shown on the construction documents approved by the
Director of Public Works of the City, the time frames for construction of the Improvements
and the itemized costs of these Improvements are set forth on Exhibit C if applicable All
Public Improvements covered by this Agreement shall be made in accordance with the
construction documents drawn according to regulations and construction standards for
such improvement and approved by the Director of Public Works of the City It is
understood by the Parties that the description of the Public Improvements may be general
in nature, and that reasonable modifications of the scope, nature, costs, and similar
aspects of the Public Improvements may be necessary to secure final approval of the
Public Improvements The quantities and locations for the Public Improvements are based
on information that was available at the time of approval of the Final Plat. Additional Public
Improvements may be required, and Developer shall be responsible for submitting
revisions to the Final Plat approved by the City
The Developer shall warrant any and all Public Improvements which are conveyed
to the City pursuant to this Agreement for a period of two (2) years from the date the City's
SUBDIVISION IMPROVEMENT AGREEMENT 05101 -1-
Director of Public Works certifies that the same conform with specifications approved by
the City Specifically, but not by way of limitation, the Developer shall warrant the following
, ,
(a) That the title conveyed shall be marketable and its transfer nghtful,
(b) Any and all facilities conveyed shall be free from any security interest or
other lien or encumbrance, and
(c) Any and all facilities so conveyed shall be free of defects in materials or
workmanship for a period of two (2) years as stated above
(d) To the degree the Developer is required to install and maintain landscaping
on public or private property, it is the obligation of Developer to maintain the
required landscaping for two (2) growing season(s)
The City will finally accept for maintenance all Public Improvements after the
warranty period has expired provided all warranty work has been completed The City shall
accept for snow removal purposes only, all dedicated public streets after the City issues
the first certificate of occupancy
7 Installation of Traffic SiQnal A traffic signal may be required to serve this
development. Determination of the need for the signal shall be made by the City's Public
Works Director, hereinafter "Director", prior to building permit issuance and based upon a
traffic study for this development approved by the City The Developer shall provide
collateral for the estimated cost of installation of the traffic signal prior to building permit
issuance, if the Director has determined that a signal is needed Prior to building permit
issuance, the Developer shall provide traffic signal plans for approval by the Developer and
the Colorado Department of Transportation
The Developer shall notify the City in writing, a minimum of one hundred sixty (160)
days prior to the desired time of installation/modification of the traffic signal in order to
allow the City to coordinate the timing of the traffic signal improvements If the Director
approves installation of the signal based on meeting traffic warrants, the City shall then
notify the Developer in writing of the exact amount required for the traffic signal
improvements The Developer shall then make payment to the City in cash for the required
amount within sixty (60) days of receipt of such letter The City will not commence traffic
signal improvements until the Developer has paid to the City the total amount determined
by the Director to be the total cost of improvements
8 Observation, Inspection and Testinq The City shall have the right to require
reasonable engineering observations and testing at the Developer's expense Observation
and testing, acquiescence in, or approval by any engineering inspector of the construction
of physical facilities at any particular time shall not constitute the approval by the City of
any portion of the construction of such Public Improvements Such approval shall be made
by the City, only after completion of construction and in the manner hereinafter set forth
SUBDIVISION IMPROVEMENT AGREEMENT 05101
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The Director IS designated by the City to exercise authority on its behalf under this
Agreement and to see that this Agreement is performed according to its terms Work
under this Agreement may, without cost or claim against the City, be suspended by the
Director for substantial cause
The Director shall, within a reasonable time after presentation, make decisions in
writing on all claims of Developer and on all other matters relating to the execution and
progress of the work or the interpretation of this Agreement, the master plan and
specifications All such decisions of the Director shall be final
The Director shall make all determinations of amounts and quantities of work
performed hereunder To assist him in this work Developer shall make available for
inspection any records kept by Developer
The Director shall make all determinations of amounts and quantities of work
performed hereunder To assist him in this work Developer shall make available for
inspection any records kept by Developer
The Director and his authorized representatives shall have free access to the work
at all times, and Developer shall furnish them with facilities for ascertaining whether the
work being performed, or the work which has been completed, is in accordance with the
requirements of the Agreement.
The Director will make periodic observations of construction (sometimes commonly
referred to as "supervision") The purpose of these observations and construction checking
is to determine the progress of the work and to see if the work is being performed in
accordance with the plans and specifications He will in no way be responsible for how the
work is performed safety in, on, or about the job site, methods of performance, or
timeliness in the performance of the work.
Inspectors may be appointed to inspect materials used and work done Inspections
may extend to all or any part of the work and to the preparation or manufacture of the
materials to be used The inspectors will not be authorized to alter the provisions of this
Agreement or any specifications or to act as foreman for Developer The Inspector will
have authority to reject defective materials and to suspend any work that is being done
improperly, subject to the final decision of the Director
9 Completion of Public Improvements The obligations of the Developer
provided for in paragraph 6 of this Agreement, including the inspections hereof, shall be
performed on or before October 25. 2003, and proper application for acceptance of the
Public Improvements shall be made on or before such date Upon completion of
construction by the Developer of such Improvements, the City's Director of Public Works
or designee, shall inspect the Improvements and certify with specificity its conformity or
lack thereof to the City's specifications The Developer shall make all corrections
necessary to bring the Improvements into conformity with the City's specifications Once
approved by the City's Director of Public Works, the City shall accept said Improvements
upon conveyance, provided, however, the City shall not be obligated to accept the Public
SUBDIVISION IMPROVEMENT AGREEMENT 05101 -4-
Improvements until the actual costs described In this Agreement are paid in full by the
Developer
10 Protection Developer, at its expense, shall continuously maintain adequate
protection of all Improvements from damage prior to acceptance by the City and shall
protect the City's property from injury and loss arising in connection with this Agreement.
Developer shall make good any such damage, injury or loss except such as may be
caused directly by authorized agents or employees of the City Developer shall adequately
protect adjacent property and shall provide and maintain all passageways, guard fences,
lights and other facilities for protection required by publiC authority or local conditions
Developer shall be responsible for damage to any public and private property on
and adjacent to the site of Developer's Improvements caused by negligent or willful acts
of Developer, its agents or subcontractors Developer shall take all reasonable effort
necessary to prevent damage to pipes, conduits, and other underground structures and
to overhead wires, and to water quality Developer shall protect carefully from disturbance
or damage all land monuments and property marks until an authorized agent of the City
has witnessed or otherwise referenced their location, and shall not remove them until
directed When any direct or indirect damage or injury is done to public or private property
by or on account of any act, omission, neglect or misconduct in the construction of
Improvements, or in consequence of the non-execution thereof on his part, such damaged
property shall be restored by Developer at its own expense to a condition similar or equal
to that existing before such damage or injury
Developer shall at all times, whether or not so specifically directed by the Director,
take necessary precautions to insure the protection of the publiC Developer shall furnish,
erect and maintain, at its own expense, all necessary barricades, suitable and sufficient
red lights, construction signs, provide a sufficient number of watchmen, and take all
necessary precautions for the protection of the work and safety of the public through or
around his construction operations as Developer and the Director shall deem reasonably
necessary
11 Related Costs - Public Improvements The Developer shall provide all
necessary engineering designs, surveys, field surveys, testing and incidental services
related to the construction of the Public Improvements at its sole cost and expense,
including final drainage study letter certified accurate by a professional engineer registered
in the State of Colorado
12 Improvements to be the Property of the City All Public Improvements for
roads, concrete curb and gutters, public storm sewers and public drainage improvements
accepted by the City shall be dedicated to the City and warranted for a period of twenty-
four (24) months following acceptance by the City, as provided above
13 Performance Guarantee In order to secure the construction and installation
of the Public Improvements the Developer shall, prior to recording the Final Plat, if
applicable, in the real estate records of Jefferson County, which recording shall occur no
later than ninety (90) days after the execution of this Agreement, furnish the City, at the
SUBDIVISION IMPROVEMENT AGREEMENT 05101 -)-
Developer's expense, with the Performance Guarantee described herein The
Performance Guarantee provided by the Developer shall be an irrevocable letter of credit
in which the City is designated as beneficiary, for one hundred twenty-five percent (125%)
of the estimated costs of the Public Improvements to be constructed and installed as set
forth in Exhibit C, if applicable, to secure the performance and completion of the Public
Improvements as reqUIred by Section 26-413 of the Wheat Ridge Subdivision Regulations
The Developer agrees that approval of this Agreement by the City is contingent upon the
Developer's provision of an irrevocable letter of credit to the City within ninety (90) days of
the execution of this Agreement in the amount and form provided herein Failure of the
Developer to provide an irrevocable letter of credit to the City in the manner provided
herein shall negate the City's approval of this Agreement. Letters of credit shall be
substantially in the form and content set forth in Exhibit D, if applicable, and shall be
subject to the review and approval of the City Attorney The Developer shall not start any
construction of any public or private improvement on the Property including, but not limited
to, staking, earth work, overlot grading or the erection of any structure, temporary or
otherwise, until the City has received and approved the irrevocable letter of credit.
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The estimated costs of the Public Improvements shall be a figure mutually agreed
upon by the Developer and the City's Director of Public Works, as set forth in Exhibit C if
applicable If, however, they are unable to agree, the Director of Public Works' estimate
shall govern after giving consideration to information provided by the Developer including,
but not limited to, construction contracts and engineering estimates The purpose of the
cost estimate is solely to determine the amount of security No representations are made
as to the accuracy of these estimates, and the Developer agrees to pay the actual costs
of all such Public Improvements
The estimated costs of the Public Improvements may increase in the future
Accordingly, the City reserves the right to review and adjust the cost estimate on an annual
basis If the City adjusts the cost estimate for the Public Improvements the City shall give
written notice to the Developer The Developer shall, within thirty (30) days after receipt
of said written notice, provide the City with a new or amended letter of credit in the amount
of the adjusted cost estimates If the Developer refuses or fails to so provide the City with
a new or amended letter of credit, the City may exercise the remedies provided for in this
Agreement; provided, however, that prior to increasing the amount of additional security
required, the City shall give credit to the Developer for all required Public Improvements
which have actually been completed so that the amount of security required at all time shall
relate to the cost of required Public Improvements not yet constructed
In the event the Public Improvements are not constructed or completed within the
period of time specified by paragraph 9 of this Agreement or a written extension of time
mutually agreed upon the parties to this Agreement, the City may draw on the letter of
credit to complete the Public Improvements called for in this Agreement. In the event the
letter of credit is to expire within fourteen (14) calendar days and the Developer has not yet
provided a satisfactory replacement, the City may draw on the letter of credit and either
hold such funds as security for performance of this Agreement or spend such funds to
finish Public Improvements or correct problems with the Public Improvements as the City
deems appropriate
SUBDIVISION IMPROVEMENT AGREEMENT 05101 -(,-
Upon completion of performance of such improvements, conditions and
requirements within the required time, the Developer shall issue an irrevocable letter of
credit to the City in the amount of twenty-five percent (25%) of the total cost of construction
and installation of the Public Improvements, to be held by the City during the warranty
period If the Public Improvements are not completed within the required time, the monies
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may be used to complete the improvements
14 Indemnification The Developer shall indemnify and hold harmless the City
and its officers, employees, agents or servants from any and all suits, actions, and claims
of every nature and description caused by, arising from or on account of this Agreement
any act or omission of the Developer, or of any other person or entity for whose act or
omission the Developer is liable, with respect to the Public Improvements, and the
Developer shall pay any and all judgments rendered against the City as a result of any suit,
action, or claim, together with all reasonable expenses and attorney's fees and costs
incurred by the City in defending any such suit, action or claim
The Developer shall pay all property taxes on the Property dedicated to the City and
shall indemnify and hold harmless the City for any property tax liability
15 Waiver of Defects In executing this Agreement, the Developer waives all
objections it may have concerning defects, if any, in the formalities whereby it is executed,
or concerning the power of the City to impose conditions on the Developer as set forth
herein, and concerning the procedure, substance, and form of the ordinances or
resolutions adopting this Agreement.
16 Third Party Beneficiaries There are and shall be no third party beneficiaries
to this Agreement.
17 Modifications This instrument embodies the whole agreement of the Parties
There are no promises, terms, conditions, or obligations other than those contained herein,
and this Agreement shall supersede all previous communications, representations, or
agreements, either verbal or written, between the parties There shall be no modification
of this Agreement except in writing, executed with the same formalities as this instrument.
Subject to the conditions precedent herein, this Agreement may be enforced in any court
of competent jurisdiction
18 Release of Liability It is expressly understood that the City cannot be legally
bound by the representations of any of its agents or their designees except in accordance
with the City of Wheat Ridge Code of Ordinances and the laws of the State of Colorado
19 Captions The captions to this Agreement are inserted only for the purpose
of convenient reference and in no way define, limit, or prescribe the scope or intent of this
Agreement or any part thereof
20 Bindinq Effect. This Agreement shall be binding upon and inure to the benefit
of the parties hereto and their respective heirs, successors, and assigns as the case may
SUBDIVISION IMPROVEMENT AGREEMENT 05101 -7-
be
21 No Waiver No waiver of any of the provisions of this Agreement shall be
deemed or constitute a waiver of any other provisions herein, nor shall such waiver
constitute a continuing waiver unless otherwise expressly provided, nor shall the waiver of
any default hereunder be deemed a waiver of any subsequent default hereunder
22 Invalid Provision If any provision of this Agreement shall be determined to
be void by any court of competent jurisdiction, then such determination shall not affect any
other provision hereof, all of the other provisions shall remain in full force and effect. It is
the intention of the Parties that if any provision of this Agreement is capable of two
constructions, one of which would render the provision void, and the other which would
render the provision valid, then the provision shall have the meaning which renders it valid
23 Governing Law The laws of the State of Colorado shall govern the validity,
performance and enforcement of this Agreement. Should either party institute legal suit
or action for enforcement of any obligation contained herein, venue of such suit or action
shall be in Jefferson County, Colorado
24 Attorneys Fees Should this Agreement become the subject of litigation to
resolve a claim of default of performance or payment by the Developer and a court of
competent jurisdiction finds in favor of the City, the Developer shall pay the City's attorney's
fees and court costs
25 Notice All notices required under this Agreement shall be in writing and shall
be hand delivered or sent by registered or certified mail, return receipt requested, postage
prepaid, to the addresses of the parties herein set forth All notices so given shall be
considered effective seventy-two (72) hours after deposit in the United States mail with the
proper address as set forth below Either party by notice so given may change the address
to which future notices shall be sent.
Notice to Developer'
Leslie L. Cavness
The Buckeye Group, LLC
2273 South Fillmore Street
Denver, Colorado 80210
and
Jim Huqgins
2870 Juniper Dr.
Golden, CO 80401
Notice to City'
Greq Knudson
Interim Director of Public Works
7500 West 29th Avenue
Wheat Ridge, CO 80215
SUBDIVISION IMPROVEMENT AGREEMENT 05101
-8-
26 Force Maieure Whenever the Developer is required to complete the
construction, repair, or replacement of Public Improvements by an agreed deadline, the
Developer shall be entitled to an extension of time equal to a delay in completing the
foregoing due to unforeseeable causes beyond the control and without the fault or
negligence of the Developer including, but not restricted to, acts of God, weather, fires and
strikes
27 Assignment or Assiqnments There shall be no transfer or assignment of any
of the rights or obligations of the Developer under this Agreement without the prior written
approval of the City
28 Recordinq of Aqreement. This Agreement shall be recorded in the real estate
records of Jefferson County and shall be a covenant running with the Property in order to
put prospective purchases or other interested parties on notice as to the terms and
provisions hereof
29 Title and Authority The Developer, The Buckeye Group, LLC and Mr. Jim
HUQqins, expressly warrants and represents to the City that it is the record owner of the
property constituting the Property and further represents and warrants, together with the
undersigned individual(s) that the undersigned individual(s) has or have full power and
authority to enter into this Subdivision Improvement Agreement. The Developer and the
undersigned individual(s) understand that the City is relying on such representations and
warranties in entering into this Agreement.
WHEREFORE, the parties hereto have executed this Agreement on the day and
year first above written
CIT~-WHEAT RIDGE, ~~O
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SUBDIVISION IMPROVEMENT AGREEMENT 05/01 -9-
DEVELOPER
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Leslie L Cavness, Manager Buckeye
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Jim Hug9i~S/
STATE OF COLORADO
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The foregoing instrument was acknowledged before me this ). ~) day of
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Witness my hand and official seal
My commission expires
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SUBDIVISION IMPROVEMENT AGREEMENT 05101 -10-
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EXHIBIT A
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Cavness · Huggll
lOCATED IN THE SOUTHWEST 1/4
TOWNSHIP 3 SOUTH. RAN
CITY OF WHEAT RIDGE. COUNTY
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5) TIE QEteNlIOI\l Pt>>lO EASEweNT LOCATEO ON L.OT 3, SHAll.. lIE MAINTUf\iEO
BY nE OWMEA ItMJ SUlSEGIUPlT 0WlrBlS. HerA$. SUCCESSOAS J.NO
ASSIGNS 0; lOT 3, "'lI() tHE ClR.ll~ EA.SEtENT LecAlI-D (IN lOT
2. SHAll IE MAINTAINED BY THE OWNER ANO St.l8fEQUENT c.N:A8. !-EIAS.
itJCCUSORS ,\NIJ ASSIGkS OF L.OT 2.
1) "CCMD-1NG 1Q CDLflRAOO L4W YOU ~T C~E ANY LiGAL
.t-ClI&>>.l lASED UPON ANYJEEC1 IN lliIS ~y NIlHlk THftfe
YE. fA '100 FIRST tllCOYEFl SUCH BEFECT. ~NQ eveNT
*"y .. IlMEQ /1M'( oe~ec'T 1M nns IE
Ti'Wti l.IW 'fEARS F1\OM HE D.l TE 'THE
ce StiOt'4N~ilH,
&~ IlN't ~ WHO KNOWIill6LY ~VES. ALTf~ OR DeFACES
iN( ,..",1C lAM} III.IFWEV' W8HU1EHT OR LiND 8ClI.JNI:)A.qY tr<<:M.M:WT
0fII~. CQtlfo4'Il'S It CLASS TWO (2) j.4UOEMEANOFl I'\JMIJA+rl;T
ro STATE: ST"'lJl'{ 18-4-SM, C.~,S,
~'tIM'S CfmlFtCATl!:
1'J:.a' AS U;' '.L.$. ~7218 A OlEGmOT . L_ ~- 1M T"" aUl<
9F ,DB lWi&V~lJFY It-<Al 'HE ~ TI'IE' '( OF
CA -HUSGINS !of -NiEJfIi ;Il1'IIION I'MS M"t' T a.e:AVISIDf,l
4tlQ 'hE .cc~-HY HE Pl.A. "'~'TELY . SAIl -Y
TME lirs- I€RiI* WIfllE MJED ON TtoE A-~Tl8N lHlll 'HE tNJU-TH
l _.,. ~IT 4 SECT leN iI(, T........ J ...... 89
~ .. ...... ',M" _TH ""$3'''" tlo$'T AS =:::._. ,v A
3' -:I flJtP lW ... HAf'll<.ED ~C1T'( ElF MeAT Mm/: 13212- ON
~LS t=-!~ :;; IN A AANWE lOX ~ ~ r y (;If' WHE....T
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F .:! 27'~
II.~
ClEP.+:. MIIC N:.CQlIlf)ER'S C&1!rTIF1CJ.TE:
ST.TE rF COlORoloOO }
CtAAIITY SF Jl!F'FEASON! SS
I HiRi&Y CER"fIF'Y Tii,a.T THIS PL,lT WAS F'lLED
:~.:; ~/;"i:iiif.l)
.,,__-1:.' :6_A~
,
IN MY OfFICE .IT ~O'CI..OCK
1?O.Q..ib.. AHO IS DUlY ~o
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~nerlcan ~est Le~d Svrv.ying Co. Inc
at. ~ .~.... ".0, lOll 12'1. _1,"TOft. C1:l"'1
LOCATED IH HE SOiJTHlol€ST tJ.t tF THE $OUlHlE$T 1-/. ., SECTIOk 24,
CITY C:~f?qt~~~~H..e~ 1'~A'rr:'~OIw.oo,
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1::
,( HI)S ENG I NEER I NG I NC
FA:: NO. : 303-7430(:168
Apr. 26 2002 01:43PM P2
BY HH. DATE. 4-24-0<.
IIVS ENGINEERING
COST ESTIMATE
CAVNESS-HUGGINS SUBDIVISION
SHEET -.1.._ or ...L
2 RESIDENTIAL LOTS
EXHIBIT C \~
ITEM APPROX. DESCRIPTION UNIT TOTAL
NO, QUANTITY PRICE DOLlCTS
1 135 L.F, Curb, Gutter & Attached Sidewalk 20,00 fL.F. 2,700,00
2 10 S,Y Paving 12.00 I S.Y. 120.00
2in HBP (GRADE CX, 50 BLOW)
4in HBP (GRADE C, 50 BLOW)
3 Drainage
1 EA Tvpe 13 inlet 1,500.00 lEA. 1,500.00
20 L.F 12" HEDP 20,00 I L.F. 400.00
4 110 LF Concrete Lined Ditch 10.00 I L,F. 1,100.00
5 10lc Y. Riprap 20.00 I C,Y. 200.00
6 1 EA. Handicap Ramp 980.00 lEA. 980.00
Continaency
Subotal $7,000.00
olus 25% 1,750.00
Total $8,750.00
G
Downtown Bank
1331 17TH STREET
P. 0, BoX 5847
DENVER, CO 80217
FAX (303) 296-0228
Cherry Creek Bank
3301 E. 1ST AVENUE
DENVER. CO 80206
FAX (3031388-3275
Cherry Hills Bank
6501 E, BELLEVIEW AVE,
ENGLEWOOD. CO 80111
FAX (720) 493-5866
DTC Bank
5445 DTC PARKWAY
PENTHOUSE ONE
GREENWOOD VILLAGE.
CO 80111
'AX (303) S04-5510
Gateway Park Bank
3950 LEWISTON STREET
AURORA, CO 80011
FAX (303) 574-0S55
Longmont Bank
900 S. MAIN STREET
LONGMONT. CO 80501
FAX (303) 702-0451
Jefferson Bank
16800 W. COLFAX AVENUE
GOLDEN. CO S0401
FAX (303) 313-8525
Meridian Bank
11806 OSWEGO STREET
ENGLEWOOD. CO 80112
lAX (303) 312-3198
GUARANTY BANK
AND TRUST COMPANY
PHONE (303) 296-9600
t+ Hour Bank,na (303) 293-2938
WEB WWW.GUARANTVBANKONLINE.COM
DATE OF ISSUE:
October 24, 2002
J{'
EXHIBIT D
IRREVOCABLE STANDBY LETTER OF CREDIT
NO. 1416
AMOUNT:
$8,75000
EXPIRY DATE:
October 25,2003 at our counter 3:00 P.M. Denver Time
BENEFICIARY:
CITY OF WHEAT RIDGE
7500 W.29TH AVENUE
WHEAT RIDGE,CO 80215-6713
Gentlemen:
At the request of and for the account of our customer, THE BUCKEYE GROUP,
LLC 2273 S. FILLMORE, DENVER, CO 8021 0 we hereby issue our Irrevocable
Standby Letter of Credit in your favor in the aggregate amount, not exceeding
EIGHT THOUSAND SEVEN HUNDRED FIFTY AND 00/100THS US Dollars
(USD$8,750.00)
Funds under this credit are aVaIlable with GUARANTY BANK AND TRUST
COMP ANY by payment against presentatIOn of your sight draft(s) drawn on us, at
our office, on or before the expiry date when accompanied by the following:
1. This Original Letter of Credit.
2. A Signed statement that the above is drawn in payment of the attacched HVS
Engineering cost estimate.
We hereby agree with drawers and endorsers, and bona fide holders of drafts
negotiated under this Letter of Credit that the same shall be duly honored upon
presentation and delivery of the documents as specified above.
Except as otherwise expressly stated herem this credit is subject to the Uniform
Customs and Practice of Documentary Credits (1993 Revision) International
Chamber of Commerce, Publication 500 (UCP 500).
Any draft presented must bear the words "Drawn under GUARANTY BANK AND
TRUST COMPANY Irrevocable Letter of Credit No. 1416 dated October 24,
2002."
G
Page 2
IRREVOCABLE LETTER OF CREDIT
NO. 1416
This page shall be attached to and become an integral part of the above referenced
Letter of Credit
The original Letter of Credit must be returned to us for cancellation at expiration if
not util1zed.
I ~~
Please address all communications regarding this Letter of Credit to Guaranty Bank
and Trust Company, Letter of Credit Department, 1331 17th St., Denver, CO
80202, mentioning specifically our Irrevocable Letter of Credit No. 1416, issued for
the account of THE BUCKEYE GROUP, I.C..
Sincerely,
GUARANTY BANK AND TRUST CaMP ANY
~ \N \;;h1'1
John W Perkins
ExecutIve Vice President
Robe Un r
SVP Credit Manager