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HomeMy WebLinkAboutCoops Place Subdivision111111 I!'I IIII! I II 111111111 IP�111111111111111111111 a� ° 2021090810 06/15/2021 11:56:39 AM 22 Page(s) JEFFERSON COUNTY, Colorado SUBDIVISION IMPROVEMENT AGREEMENT THIS AGREEMENT made this of q , 10.21 (the "Effective Date") by and between the CITY OF WHEAT R DGE, COLORADO, -ahome _ a rule municipal corporation (the "City"), and 3501 Hoyt, LLC, a Colorado limited liability °2 company (the "Developer"), and the City and Developer together referred to as the "Parties." RECITALS A. The Developer 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 Coops Place.. B. On M a,/ 2(� , 2021, the City of Wheat Ridge, approved the final plat for the Property titled Coops Place Subdivision (the "Final Plat"). The Final Plat is recorded with the Jefferson County Clerk and Recorder at reception number a02109DSD9 . A copy of the Final Plat is attached hereto as Exhibit B and incorporated herein. C. 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. Related City Agreements and Approvals. The Property will be subject to future review and approval of site plan(s), civil construction documents, right-of-way permit application(s), and building permit application(s). Through such approvals, the City will review and approve the final design any development and Public Improvements related thereto. This Agreement is based on information available at the time of approval of the Final Plat and shall not constitute approval of the Public Improvement designs. 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. Parkland dedication fee -in lieu. Fees in lieu of land dedication shall be calculated pursuant to the formula in Section 26-413 in the amount of $2,497.29 per unit for new residential units being created. Credit is given for the existing residential unit on the site. The per unit fee shall be paid prior to issuance of each building permit. This fee is subject to change by City Council resolution. 5. Title Policy. Prior to recording of the Final Plat, a title commitment for all those portions of the Property, as well as any other interests in real property (easements, etc.) to be reserved for public purposes or dedicated to the City shall be provided to the City. The title commitment shall show that all such property 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) which would make the dedication or reservation unacceptable as the City determines in its reasonable discretion. The City, in its sole discretion, may accept any dedication regardless of encumbrances. The title policy evidenced by the title commitment shall be provided within thirty (30) days after the recording of this Agreement, in an amount equal to the fair market value of the property so dedicated or reserved. 6. 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 permit 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. 7. Installation of Public and On -Site Improvements. All storm sewer lines, drainage structures, paved streets, curb, gutter, sidewalk, and necessary appurtenances as shown on the subdivision plat and the associated construction documents (the "Public Improvements" or "Improvements") as approved by the City's Director of Community Development or designee ("Director"), shall be installed and 2 completed at the expense of the Developer within the timeframes set forth in Section 11 of this Agreement and as outlined in Exhibit C. The Public Improvements shall be substantially complete, with only such exceptions as shall be approved in advance by the Director in the exercise of his or her sole discretion, prior to the issuance of any Certificate of Occupancy on the Property. The itemized costs of the Public Improvements required by this Agreement and shown on the construction documents approved by the Director are set forth on Exhibit D. 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. 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 construction documents for review of all Public Improvements and/or revisions to the Final Plat approved by the City. 8. Warranty of Public Improvements. 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 Director certifies that the same conforms to the specifications approved by the City (the "Warranty Period"). 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; (b) Any and all Public Improvements conveyed shall be free from any security interest or other lien or encumbrance; and (c) Any and all Public Improvements so conveyed shall be free of defects in materials or workmanship for a period of two (2) years as stated above; and (d) To the degree the Developer is required to install and maintain landscaping on public or private property, it is the obligation of Developer and its successors and assigns, to maintain the required landscaping in perpetuity. The City will finally accept for maintenance all Public Improvements, exclusive of landscaping materials, after the two-year 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. 10. Observation, Inspection and Testing. The City shall have the right to require reasonable engineering observations and testing at the Developer's expense. 3 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 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. 11. Completion of Public Improvements. The obligations of the Developer provided for in Section 7 of this Agreement and Exhibits C and D, including the inspections hereof, shall be performed on or before June 1, 2023, and proper 0 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 Director, 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 Director, 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. 12. Deferred Installation of Landscaping and Financial Guarantee. If a Certificate of Occupancy is requested prior to completion of landscaping and irrigation, an irrevocable letter of credit or escrow account shall be accepted for the completion of necessary landscaping and irrigation. Said financial guarantee shall be in the amount of one hundred and twenty five percent (125%) of the cost of installation. Letters of credit or escrows shall not be released until all planting and finish materials shown on the approved landscape plan are installed and accepted and the irrigation is installed and functional. The amount of the escrow or letter of credit shall be based on the itemized cost estimate for required landscaping and irrigation set forth in Exhibit D. Should the required landscaping not be properly installed upon the expiration of the letter of credit or escrow account, the City reserves the right to use such funds to have the required landscaping placed upon the subject premises. Any costs reasonably incurred by the City in excess of the funds provided by the letter of credit or escrow shall be recovered by the City through normal lien proceedings. 13. 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 nonexecution 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. 5 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 the Property's construction operations as Developer and the Director shall deem reasonably necessary. 14. 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. 15. 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. 16. Performance Guarantee for Public Improvements. In order to secure the construction and installation of the Public Improvements the Developer shall, within 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 in the form of 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 D, if applicable to secure the performance and completion of the Public Improvements as required by Section 26-418 Security for Required Improvements, 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 E, 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, earthwork, overlot grading or the erection of any structure, temporary or otherwise, until the City has received and approved the irrevocable letter of credit. Notwithstanding the foregoing, the Developer may obtain the appropriate permits and commence demolition and/or remediation of the Property prior to the City's receipt and approval of the irrevocable letter of credit. The estimated costs of the Public Improvements shall be a figure mutually agreed upon by the Developer and the Director, as set forth in Exhibit D if applicable. C.1 If, however, they are unable to agree, the Director's 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 Section 11 of this Agreement or a written extension of time mutually agreed upon by 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 (including the cost of landscaping), 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. If the Public Improvements require repair or replacement during the Warranty Period and the Developer fails to complete said repairs or replacement prior to the end of the Warranty Period, the City may draw on the letter of credit to make required repairs or replacements to the Improvements. 17. 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 7 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 due on any portion of the Property dedicated to the City and shall indemnify and hold harmless the City for any property tax liability in connection therewith. 18. 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. 19. Third Party Beneficiaries. There are and shall be no third party beneficiaries to this Agreement. 20. 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. 21. 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. 22. 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. 23. Binding 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. 24. 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. 25. 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. 9 26. 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 or action for enforcement of any obligation contained herein, venue of such suit or action, shall be in Jefferson County, Colorado. 27. 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. 28. 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 Vic) 1 k,.y+ (-L (- -?70 .?7o 1 E s+ -e S 5+r _ �v-m+ K i d , t-© Notice to City: Community Development Director 7500 West 291 Avenue Wheat Ridge, CO 80033 City Attorney 7500 West 2911 Avenue Wheat Ridge, CO 80033 29. Force Ma'eure. 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. 30. Assignment or Assignments. 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. N� 31. 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. 32. Title and Authority. The Developer 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. [Remainder of Page Intentionally Left Blank] 10 CITY OF WHEAT RIDGE, COLORADO By: /0&/ � Bud Starker, Mayor ATTEST: Stephen Kirkpatrick, City Clerk (SEAL) 11 DEVELOPER 3501 Hoyt, LLC Name: Title: PN STATE OF COLORADO ) SS. COUNTY OF The foregoing instrument was acknowledged before me this 19 day of 20.. , by �. as �"�-.� of L.L c - Witness my hand and official seal. My commission expires: KEITH FOSTER NOTARY PUBLIC STATE OF COLORADO NOTARY ID 20104027042 MY COMMISSION EXPIRES AUG. 19, 2022 (SEAL) 12 Notary Public EXHIBIT A Legal Description of Developer Property /3 LOTS 1 AND 2, COOPS PLACE SUBDIVISION, CITY OF WHEAT RIDGE, COUNTY OF JEFFERSON, STATE OF COLORADO. 13 EXHIBIT B Final Plat 1 r (see attached) 14 3af3dV0$JNVI WANI ONN133NIOWN3INO ON,NNV d — nd m� 958995 1 KIM OO'NOM 1° I# 3AV IAMVO NDI M Wn N* 011'0NLL18aNOJ 1NIOd Q C) 0 < C14 0 0� 0 u Q � Z QUO O Z W OQ LU L_ z W 0 � LL LL C� W0w W 0 vv) LU Q W > O J 3� oz C = W =) 0o CL O Z U ow 0 F- CZLU U� 0 z=) fle COQ LU cy) W � =� �N� Nz0 0� �-- U Jn'�wnnsNOJ 800'OZ'ON 9Of 133HS 89 0 Zl1133HS WoddD dltl199 NON3v 1i OOVNOIOO 3'JOIN 1V3HM _ IIRC'ON 35N3JI1 _ NOISIAlcignS iovid Sd003 SNOISIA3a l"d'""LL = Z W N0i9WVJ V]INHO31 - IZ'E°TJ i0 NgNAa3d°S SNOMMS1 NW031 IZZZ'IJ 1J3No 31LL NOLLVatld3ad lVN101aO - cel' x3arvn mavd3ad lb'Id NOISW0911S Wz O 2d O Z c= W .gyp z: Fi�HU '$ �WE r 15� :_ WF3F EyW i:'"iLL�SsY �Gx <€Wes $m alas os �W a ��a � Ho _ g= �� _�� fYa _ �fW a=o�r�= =W°` xz 1 e,a LL,m �� 3 m5o o ga o e=� W; s ��° F6Wg¢a 8<�? 3 F a Vie€ ogg x 5 fig =5Xu�� o '< =ia a'i z8'og aao=_� tl-W�o -. s53 = s a� s:F a z f.m s oda as Asa s g3€ o ' tea= v �€ o=e€_o Vwho§G�'� w�f y oos aa€ _� a s s; g W s o tld w cs was= ano o � gso51 assay y SH G3 offs 1Q �=a Ilia f'N ssWo „a 8H- � w ffln ttx ^$ a� F xwaal E - � g a # SH G3 offs 1Q �=a Ilia f'N ssWo „a 8H- � w ffln ttx ^$ eNIA3nansaNn Jn nwnnsNOJ 8b0'OZ'ON 00f M31A N'd'ld Z/L 133HS 3a1LL03LHOaY3dYOSONVI LLOd30 i1tl199 - ONIa33NION3 YNO aavaOd oavaoio0'doala lV3HM _ wo» bla I ICBF'ON 3EN3d1 OOra010J .- NOISIAi(ionS 3ovid Sd00o SNOIS A3a 1VOINH031 wNZEO EO KIM OO'N01311ll1 iO NdElAa3dnE SN019A36,VOINH0 i IZZL'10 10 It 3AV11arJ ND M09V9 1J3d103H1 N•?I!tlr.Y.a3a�LtlNl�lj�� pZ'fe'60 o„'VNu,llEHoDiNloa 1V1d NOISIA1400S '1d11y1a: T3C - 31d4 =i ffi EBAh e� S0 9-Sas 3� 3�TW _—__—_—__—__—__ •bbY59Z 3.SY,60.LY15 a g s p -a ra a g k k k � s �v w Q I Q o i 3; N w Q 133k1151AOH y$ e Q j Z QJ =a U I.- .OFLEI LL_ I ---- - _sn s—E. - wUO !�I ----ai -W - - - �O LL Z I I eA5 LU I h ;� o Z� 9i 3 gW og"oma_ -' = NmLU �n" "aS LL LL 5 8^ _ 3� OSaoo ' to Z O N> /M't9 M.2E,LL,OON k7• Qui> In — ..� - •.Lii'FS M.ZElr.LtlM----------- x r i gL so Z A < s = LI.J--�--uJi_°eL_--� ma I .oF'sFr M.rF,rr.roM 'n Q I i'dnoJU0H CLQZU I€ O Z Q W LU Q O = = i s= qhs o Eaag3���:E j F r) i ]I3 36 5 3 U Z cz mI = m 8s=W:s k�c LU co w WI 0 3$ I Qom= p _ j I� €h N N > Z LL- QADD= H23 I I—kea"�y=38 I IS a I I I ■ 133N153� S 3:)N30N3d 3d30N1 � I f i R y3W .9Z 6ZF[3.tF.It.GJF r z i E3 9PN �W$ I zE�a^' j§ EY -----------------------------------.--------------- .rr F9vr a,FF,rr•aos— i EXHIBIT C Phasing Plan for Public Improvements The fee in lieu of parkland dedication for two dwelling units shall be submitted prior the issuance of a building permit for that lot. Credit is given for the existing single-family home on the site, so parkland fees shall only be due for the proposed duplex. `Building permits for Lots 1 and 2 may be issued prior to completion of public improvements. Prior to the issuance of a Certificate of Occupancy for each lot, the adjacent curb, gutter, and sidewalk shall be installed. Prior to issuance of a Certificate of Occupancy for Lot 2, street access shall be installed across Lot 1, connecting the garage on Lot 2 to Hoyt Court. All public improvements shall be completed by January 31, 2023, regardless of the timing of development and building permits. Installation of landscaping and irrigation is not required prior to Certificate of Occupancy if issuance of C.O. occurs outside of the planting season, generally October to June. Refer to Section 12 of the Subdivision Improvement Agreement. 15 EXHIBIT D Cost Estimate for Public Improvements (see attached) im Engineer's Estimate of Probable Cost Coop's Place 20.048 3501 Hoyt Street Wheat Ridge CO May 19, 2021 Prepared For: 3501 Hoyt, LLC Kyle Ballew 3701 Estes Street Wheat Ridge, CO 80033 720.387.0277 Prepared by: CITY OF WHEAT RIDGE ENGINEERING DIVISION APPROVED FOR: O DRAINAGE O SIDEWALK ❑ CURB & GUTTER D STREET MISCELLANEOUS ❑ PLAT COMMENT Itemized Engineer's Cost Estimate for Pi's 05/19/2021 CIVIL ENGINEER DATE SUBJECT TO FIELD INSPECTIONS Point Consulting, LLC Tiffany D. Watson 8460 West Ken Caryl Avenue #101 Littleton, CO 80128 720.258.6836 CITY OF WHEAT RIDGE ENGINEERING DIVISION DATE 05/19/2021 RECEIVED 05/19/2021 5th Submittal This Engineer's Opinion of Probable Construction Cost is based upon construction documents. Quantities of materials were estimated based on Proof Civil's best judgment as an experienced and qualified professional engineer, or as one supervised under a professional engineer, familiar with the construction industry. However, since Point Consulting, LLC has no control over the cost of labor, materials, or services furnished by others, or over the Contractor's methods of determining prices, or over competitive bidding or market conditions, Point Consulting, LLC cannot and does not guarantee that proposals, bids, or actual construction costs will not varyfrom Opinions of Probable Construction Cost prepared by Point Consulting, LLC. 8460 West Ken Caryl Avenue #101, Littleton Colorado, 801281720-258-68361 www.pnt-lic.com /g City of Wheat Ridge Community Development Department Page 2 of 2 Public SIte(P orvh7g Material Quantity Unit tit Total Sidewalk WmAde, 6" thick) 26.2 sy 6t no sy $ 1,573.33 Type it M-6019-1 Driveway Cut 2.0 ea 1,755.00 ea $ 3,510.00 4" Curb and 24" Gutter 90.0 if $ 27.00 if, $ 2,430.00 6" curb and 24" Gutter m.0 if $ 27.00 if $ 5,373.04 lAsphalt Pavement 43.2.2 sy $ 60".00 sy $ 3.4,577.78 TOTAL: $ 47,464.11 8460 West Ken Caryl Avenue #101, Littleton Colorado, 80128 1720-258-6836 1 www.pnt-llc.com EXHIBIT E Letter of Credit Template (see attached) Cl 17 EXAMPLE LOC — Parentheses O indicate applicant/bank defined fields (Bank Letterhead) LETTER OF CREDIT # (L.O.C. #) BENEFICIARY: The City of Wheat Ridge as ADDRESS: 7500 West 290' Avenue, Wheat Ridge, CO 80033 DATE: (Date of Issue) EXPIRY DATE: (Exp. Date) IRREVOCABLE STANDBY LETTER OF CREDIT For: (Developer's Name) (Developer's Address) Gentlemen: We hereby open our IRREVOCABLE STANDBY LETTER OF CREDIT in your favor available by your drafts drawn on (Bank Name, and Address) for any sum or sums not to exceed in total (Amount of L.O.C.). We hereby authorize you to draw on us for the account of (Developer's Name) up to an aggregate amount of (Amount of L.O.C.) (125% engineer's estimated cost of improvements) available by your drafts at sight accompanied by your signed statement that the above is: 1) drawn in payment of street improvements including, but not limited to, curb, gutter, sidewalk, asphalt patching, street paving, and other street improvements shown on the final plat and associated construction documents for The Corners at Wheat Ridge (the "Project"), and/or 2) drawn in payment of storm drainage improvements including, but not limited to, detention pond grading, detention pond outlet structure(s), storm sewer system, and other drainage facilities shown on the final plat and associated construction documents for the Project. Drafts must be accompanied by 1) a sight draft; 2) a signed statement by an authorized representative of the Beneficiary stating as follows: "We hereby certify that the amount of our draft represents funds owed to the City of Wheat Ridge for payment obligations pursuant to the conditions stated above, between (Developer's Name) and the City of Wheat Ridge." 3) This original Letter of Credit. Each draft must bear upon its face a clause "Drawn under Letter of Credit No. (L.O.C. #) dated (Date of Issue). This IRREVOCABLE STANDBY LETTER OF CREDIT is not transferable. We hereby agree with you that drafts drawn under and in compliance with the terms of the Letter of Credit will be duly honored if presented to the above mentioned drawee Bank on or before (Exp. Date). Except as otherwise expressly stated herein, this Letter of Credit and all negotiations hereunder are subject to all applicable provisions of Uniform Customs and Practices for Documentary Credits, 2007 Revision, International Chamber of Commerce Publication No. 600. Sincerely, (BANK NAME) By: (Name and Title of Bank Officer) DEN -132644-2