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HomeMy WebLinkAbout0015 , , \\ \", '(1 I- - ..c l!J ~ :::> g 0".' CI) ~.J 5: l1:: 1-,0 I.L.~ o <<1)& ~~ g~ ~ RECEPTION NO. I::' :I. C <:~ ~'j () 3'''; E 12/06/2002 9:32:43 PG: 001-01. '0AGE ~EE: 81.00 DOC.FEE: O.~O RECORDED IN JEFFERSON COUNTY, COLORADO SUBDIVISION IMPROVEMENT AGREEMENT THIS AGREEMENT made this 12th day of November, 2002 by and between the CITY OF WHEAT RIDGE, COLORADO, a home rule municipal corporation (the "City"), and Janet DaughenbauQh, (the "Developer"), together referred to as the "Parties" 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 attached hereto and made a part hereof (the "Property"), commonly known as 4240 KiplinQ Street. On April 5th, 2002, the City Council of the City of Wheat Ridge, after holding all required public hearings, approved the final development plan for the Property Janet D. Minor Subdivision Filing No.2. If applicable, 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 NONE 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 title policy evidenced by the title commitment shall be provided thirty (30) days after the recording of this Agreement. SUBDIVISION IMPROVEMENT AGREEMENT 5/01 I ir; 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 attached hereto and incorporated herein 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 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 rightful, SUBDIVISION IMPROVEMENT AGREEMENT 05101 -:!' (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 forthe 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 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 SUBDIVISION IMPROVEMENT AGREEMENT 05101 -3- 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 i I 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 11/03/2003, 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 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 SUBDIVISION IMPROVEMENT AGREEMENT 05101 -4- 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 f., ./ 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 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, 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, attached hereto and incorporated herein, and shall be subject to the review and approval of the City Attorney SUBDIVISION IMPROVEMENT AGREEMENT 05101 -)- 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. , I ': 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 attached hereto 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 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 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, SUBDIVISION IMPROVEMENT AGREEMENT 05101 -()- 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. I ' i i ! 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 otherthan 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 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 Governinq Law The laws of the State of Colorado shall govern the validity, performance and enforcement of this Agreement. Should either party institute legal suit SUBDIVISION IMPROVEMENT AGREEMENT 05101 -7- 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' Janet Dauqhenbaugh Dauahenbaugh Family Trust 3900 County Road 114 Elizabeth, CO 80107 Notice to City' Greg Knudson Interim Director of Public Works 7500 West 29th Avenue Wheat Ridge, CO 80215 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 Assianment 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 Recording of Agreement. 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, Janet Daughenbauah, 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. SUBDIVISION IMPROVEMENT AGREEMENT 05101 -H- WHEREFORE, the parties hereto have executed this Agreement on the day and year first above written CITY OF WHEAT RIDGE, COLORADO / By' Gretchen Cerveny, Mayor ATTEST I . ~ . I' ':.... . .///;10 1~. -If -~~" . , "..- Wanda Sang, City Cieri< ., , .., APPR..SVE. 0 ;l.fO.R_M ). '. - 7 _./ ,;1.... ': Ii !J ',// b .L.6..I. ,,-< j ,/; . Gerald Dahl, Cify Attorney v SUBDIVISION IMPROVEMENT AGREEMENT 05/01 -9- DEVELOPER By' STATE OF COLORADO COUNTY OF .J~ f '-f c' .. - ,J , , '--'" ) ) ) ss The foregoing instrument was acknowledged before me this I z. T' .........day of /\/0.,,,,.-.<.../.,,0..- 2002, by -.J.~.,-" f-- L;cL. l).'--'....'i"'- ,._LJ"'-<-<...-c(i'-- as _) Jr-.J' -r~(.-.,.>-t-....."<;' of '...-..t-C....-(_/,,~2""._J.JC.~-t'"'-(i"~r-t.;-.,ro-J I"; ryl,-,,'~ r- ,~ I Witness my hand and official seal My commission expires ,.1,_)..-/ . .;.....1 l- {" <.. JrJ I /-1-' / A'" '> ....v~"-_~~ (._ !}' r- . /.(>v-<....- Notary Public (SEAL) SUBDIVISION IMPROVEMENT AGREEMENT 05101 -1 ()- EXHIBIT A LEGAL DESCRIPTION. j ( Parcel 1 Beginning at a point 51 rods 14 feet n0l1h of the Southwest comer of the '!,W 1,4, SW \ 4 of Section 22, Township 3 South. Range 69 West. 6th PrinClpal MeridIan, thence East 436 feet; thencc ,-orth 229 feet; thence J'.:0I1hwesterly 440 feet to the west line of SectIon 22 to a point 302 feet N0I1h tram Point of Beginning, EXCEPT the South 92 feet thereat: and EXCEPT that parcel conveyed by Melvm W Koeltzow and Marjorie L. Koeltzow by special warranty deed to the Department of highways, State of Colorado. dated March 17, 1969 and recorded ^-pri14, 1969 at Reception No. 321523, III Book 2093 at page 637 Jefferson County rccords, and EXCEPT that parcel conveyed to Janet and Glenn Daughenbaugh in deed recorded February \ 4, \ 990 at Reception No 900 \ 3 \ 48, County of Jefferson, State of Colorado. TOGETHER WITH, Parcel 2 A parcel of land in the Southwest One of Section 22, Township 3 South, Range 69 West, of the 6th Principal Meridian. County of Jefferson, State of Colorado more partIcularly described as follows, Commencing at the West quarter comer of said Section 22, thence SOoo 17'35"E along the west line of said Section 22 a distance of \ 9795 feet to a pomt. said point bears NOOo I 7'35"W a distance of 2432.31 feet frol11 the southwest comer of said Section 22, thence N89042'25"E a dIstance of 45 00 feet to a point on the east right-of~way line of Kipling Street. said pomt also being on the west property line of a parcel of land described under Reception Nu, 8507{) 137m Jefferson County records, thence N89042'25"E along the cOl11l11onlinc ofagreement, a distance of 152,55 feet to the Point of Beginning: thence N89042'25"E along said common IlIle by agreement a dIstance of 238.45 feet to a point on the east line of that property described under Reception No 89051058 in JelTerson County' thence SOO' \ 7'35"E a distance of 36 17 feet, to the southeast comer of said property (Reception No. 89051058); thence N81 Q40'00"W along said south line of saId property (Reception No. 89051058) a distance of 241 18 feet to the Point of Begmning, County of Jefferson, State of Colorado, also described as follows: Commencing at the W -I '4 comer of said Section 22, thence SOOO I 7'35"E a distance of 197.95 feet along the west line of said section thence N89042'25"E a distance of 4500 feet to the east right of way line of Kiplmg Street as desclibed in Book 2093 at Page 637 of the Jefferson County records and the Point of Reginning; thence N89042'25"E a distance of 39100 feet: thence SOWI7'35"E a d,stance of 16971 feet along the west line of the parcels described at Reception No, F1008507 of saId county records, thence S89'42'25"\V a distance 01'38100 feet along the south line of said parcels to the easterly right of way line of Kipling Street as described in Book 2093 at Page 637 thence along said easterly right of \Vay line the following three courses: I ) NOO 0 l7'35"W a dIstance of 14 00 feet. 2) S89042'25"W a distance of 1000 feet. 3) NOool7'35"W a distance of 155 71 feet to the Pomt of Begmning, THE OWNER, HIS SUCCESSORS AND ASSIGNS GRAJ\T LIMITED RIGHTS ^-ND PRIVILEGES OF ACCESS TO, AND FREE MOVEMENTTHROLGH THOSE ^-IZEAS l:-mlCA TED AS CROSS ACCESS/lNGRESS-EGRESS EASEMENT~. AS ILLUSTRATED LIPON TillS OFFICIAl DEVELOPMENT PLAN SUCH GRANT OF EASEMENT SHALL BE LIMITED TO THE OW"\ERS, TENANTS, CLISTOVlERS, ^-ND GL ESTS OF THE OWNERS, AND SHALL FlIRTIIERMORE (IRA 'H ACC ESS TO, AND FREE MOVEMEJ\T THROUGH SAID EASEMENTS TO THUSE ENTERING SAID EASEMENT FROM SlMILARl. Y RECORDED EASEVlE"iTS FROM ADJACENT PROPERTIES, AND/OR FROM ABLITTING PUBLIC STREETS. I~ EXHIBIT B NOT APPLICABLE EXHIBIT C ENGINEER'S OPINION OF PROBABLE CONSTRUCTION COSTS /3 Janet D. Minor Filing No.2 4240 Kipling St. Wheat Ridge, Colorado June 4, 2002 NOT FOR BIDDING PURPOSES Note "This Engineer's Opinion of Probable Construction Costs" is intended exclusively for use by Town of Wheat Ridge staff personnel to determine Public Improvement and other permit fees, etc. Not all items associated with the work are included in this estimate, This estimate ONLY includes items considered "pubilc lmnrovements" Item # Description Units QNTY Unit Price ITEM COST 1 Curb & Gutter LF 180 $ 12 $ 2,160 SY $ -- 2 Concrete Sidewalk - f-- Pavement Subgrade Preparation SY 155 $ 12 $ 1,860 3 f-. Asphalt Pavement Ton 40 $ 50 $ 2,000 4 f.---'-- 5 L_a_~-9_scaping LS 1 $ 2,500.00 $ 2,500 - --.-.----.- 6 Signage & Striping LS 1 $ 1,500 00 $ 1,500 --------...- ... - ------.------ - -- 7 8 Mobilization (O&H, Ins, bonds, etc,) % 10% $ 10,020 00 $ 1,002 ---------- --- - $ 11,022,00 $ 9 Contingency % 25% 2,756 10 Total $ 13,778 CASTLE ROCK BANK 501 Wilcox Castle Rock, CO 80104 (303) 688,5191 FAX (303) 688-9882 \ L\ EXHIBIT D PAGE 1 of 3 Irrevocable Standby Letter of Credit No. 14371100 October 29, 2002 The City of Wheat Ridge 7500 West 29th Avenue Wheat Ridge, CO 80215 Attn. Michael Garcia " Development Review Engineer Dear Sir At the request and on the instructions of our customer, Janet Daughenbaugh, ("Account Party") we hereby establish in favor of The City of Wheat Ridge, its successors and assigns ("Beneficiary") this Irrevocable Standby Letter of Credi1 ("Letter of Credit") in the aggregate amount of $13,77800 (Thirteen thousand seven hundred seventy eight and 00/100 United States Dollars). 1 Subject to further Provisions of this Letter of Credit, one or more drawings may be made by Beneficiary hereunder by presentation of the following to us at any of our locations: . (a) a certificate substantially in form attached Exhibit A hereto signed by one who states therein that sihe is a duly authorized representative of Beneficiary, and da/ed the date such certificate is presented hereunder; and (b) a draft substantially in the form attached as Exhibit B hereto (A) drawn by and payable to The City of Wheat Ridge or to it's order on us, (B) bearing the number of this Letter of Credit, (C) da1ed the date of the certificate referred to in clause (i) if Exhibit A attached hereto, presented with such draft and (D) having inserted therein where indicated a dollar amount not in excess of the aggregate maximum amount then drawable under this Letter of Credit. 2. This Letter of Credit executed on October 29, 2002 shall have a one-year term and expire on November 1, 2003 3 This Letter of Credit sets forth in full terms of our undertaking, and such undertaking shall not in any way be modified or amended in My manner, unless in writing and with Beneficiary's prior consent. We acknowledge that our obligation hereunder to the beneficiary are unconditional, except as set forth herein, and represent ollr independent obligations to the Beneficiary 4 This Letter of Credit is transferable and assignable by Beneficiary, No letter of credit issued as a replacement or substitution for this Letter of Credit will be issued by us without your prior written consent. This Letter of Credit shall be govemed by, and construed in accordance with, the terms of the Uniform Customs and Practice for Documentary Credits (1 993(or most current) Revision), Intemational Chamber of Commerce Publication No. 500. Communications with respect to this 'Letter of Credit shall be addressed to us a1 our address listed above, specifically referring to the number of this Letter of Credit. 5 We agree to pay on sight drafts duly presented by Beneficiary hereunder by payment to Beneficiary directly or to any account at any bank designated by Beneficiary Beneficiary shall designate such account upon presentation of the draft. If a demand for payment made by Beneficiary hereunder does not, in any instance, conform to the terms and conditions of this Letter of Credit, we shall give Beneficiary immediate notice that its purported negotiation of this Letter of Credit was not effected in accordance with the terms and conditions of this Letter of Credit, stating the reasons therefor and that we are holding any documents at its disposal or are retuming the same to the Beneficiary Very Truly yours, Castle Rock Bank ~~~ Thomas J Miller President CASTLE ROCK BANK 501 Wilcox Castle Rock, CO 80104 (303) 688-5191 FAX (303) 688-9882 /' /) PAGE 2 of 3 EXHIBIT A to Irrevocable Standby Letter of Credit CERTIFICA TE The undersigned, a duly authorized representative of Beneficiary hereby CERTIFIES as follows with respect to' (i) that certain Irrevocable Standby Letter of Credit No. 14371100 Dated October 29, 2002, (the "Letter of Credit"), issued by Castle Rock Bank in favor of The City of Wheat Ridge and it successors and assigns ("Beneficiary") for the account of Janet Daughenbaugh, ("Account Party"), and (ii) one or more agreements by and between The City of Wheat Ridge and Account Party and any amendments or supplements thereto and any guarantees, documents or agreements executed in connection therewith (collectively the "Agreements"): The Account Party has failed to payor perform under the terms of one or more of the Agreements, and/or 2. The letter of Credit has not been renewed or replaced or, Account Party has failed to provide sufficient proof to Beneficiary that the Letter of Credit has been renewed or replaced, within thirty (30) days prior to its expiration date, with any renewal or replacement in a form and in substance and from a bank satisfactory to The City of Wheat Ridge. 3 The amount ofthe draft presented with this Certificate does not exceed the aggregate maximum amount drawable under the Letter of Credit as provided therein. IN WlTNESS WHEREOF, This Certificate has been executed on (J cTve-nb...... /5' 2=2- / By' CASTLE ROCK BANK 501 Wilcox Castle Rock, CO 80104 (303) 688-5191 FAX (303) 688-9882 EXHIBIT B to Irrevocable Standby Letter of Credit Pay on Present to the order of Dollars ($_, Drawn on Castle Rock Bank PAGE 3 Of 3 ("Beneficiary") the sum of Reference: Irrevocable Standby Letter of Credit No. 14371100 Dated October 29, 2002 The City of Wheat Ridge By' Authorized Representative ) / ~1