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HomeMy WebLinkAboutTown Center NorthIlllllllllllllllllllllllllllllllllllllllllllllll�lllrlllln a $0.0000 2011100990 SUBAGR 11/07/2011 09:02:55 AM 21 Page(s) Jefferson County, Colorado SUBDIVISION IMPROVEMENT AGREEMENT 0/ THIS AGREEMENT made this 26" day of September, 2011 by and between the \ CITY OF WHEAT RIDGE, COLORADO, a home rule municipal corporation (the "City'), / and the Wheat Ridge Urban Renewal Authority, doing business as Renewal Wheat Ridge, a body corporate and oolitic of the Stale of Colorado (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 and made a part hereof (the 'Property'), commonly known as Town Center North. On September 26, 2011 the City Council of the City of Wheat Ridge, after holding all required public hearings, approved the final plat for the Property titled Town Center North. 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. Pu rpose . 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 See Exhibit D attached hereto. 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. 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 timeframes 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 timeframes for construction of the Improvements and The itemized Goats of these Improvements are set forth on Exhibit G 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 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; (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 Signal 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 any building permit issuance and based upon a traffic study for this development approved by the City. The Director may require that the traffic study be revised if the land uses assumed in the traffic study change. 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 Director. 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. SUBDIVISION IMPROVEMENT AGREEMENT 05101 8. Observation, Inspection and Testing 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 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 K 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 SUBDIVISION IMPROVEMENT AGREEMENT 05101 suspend any work that is being done improperly, subject to the final decision of the Director. l 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 May 30, 2012, 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. 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 SUBDIVISION IMPROVEMENT AGREEMENT 05/01 through or around his construction operations as Developer and the Director shall deem I ,� reasonably necessary. U 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 Citv 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, 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, if applicable to secure the performance and completion of the Public Improvements as required by Section 26 -413 Security for Required Improvements, of the Wheat Ridge Subdivision Regulations. The City may, in the best interests of the City, accept as a Performance Guarantee hereunder an alternate form of security, such as a Performance Bond, which alternate form of security shall be subject to the City Attorney's approval as to the form and content. The Developer agrees that approval of this Agreement by the City Is contingent upon the Developer's provision of an irrevocable letter of credit of alternate form of security 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 or alternate form of security to the City in the manner provided herein shall negate the City's approval of this Agreement. Provided, however, the City's Public Works Directors shall be authorized to extend the ninety (90) day period for providing the letter of credit or other authorized security upon good cause shown. 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, earthwork, overlot grading or the erection of any structure, temporary or otherwise, until the City has received and approved the irrevocable letter of credit or alternate form of security. 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 SUBDIVISION IMPROVEMENT AGREEMENT 05101 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 or alternate form of security 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 or alternate form of security, 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 times 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 or alternate form of security 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 or alternate form of security 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 To the extent permitted by law, 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 SUBDIVISION IMPROVEMENT AGREEMENT 05101 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. 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. 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 SUBDIVISION IMPROVEMENT AGREEMENT 05101 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. SUBDIVISION IMPROVEMENT AGREEMENT 05/01 23. Governing Law The laws of the State of Colorado shall govern the 1� 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: Renewal Wheat Ridge c/o Board Chair and /or URA Manager 7500 W.29''Avenue Wheat Ridge, CO 8033 Notice to City: Tim Paranto Director of Public Works 7500 West 29'^ Avenue Wheat Ridge, CO 80033 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 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. Provided, however, the City expressly consents to performance of the obligations of the Developer by Weston Solutions, Inc. pursuant to that Amended and Restated Master Redevelopment Agreement dated December 7, 2010, and that Infrastructure Improvement Agreement dated January 18, 2011. SUBDIVISION IMPROVEMENT AGREEMENT 05/01 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, Renewal Wheat Ridge, 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. CITY OF WHEAT RIDGE. COLORADO M N� )�' Mayor ATTEST: Michael Snow, City Clerk SUBDIVISION I MPROVEMENT AGREEMENT 05/01 D By: ) D �" e. 10 STATE OF .. COUNTY . i . as G.. Witness my hand and official seal. My commission expires: z "ez Ag d�/5 Notary Pub (SEAL) # OtARY PU50 SUBDIVISION IMPROVEMENT AGREEMENT 0SM1 EXNAksm **A" LEGAL DESCRIPTION PARCELI: Our Order Na: ABD70308616 -2 THE WEST 100 FEET OF THE EAST 125 FEET OF THE SOUTH 100 FEET OF THE NORTH 130 FEET OF THE WEST 1/2 OF THE NORTHEAST 1/4 OF THE NORTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SECTTON 23, TOWNSHIP 3 SOUTH, RANGE 69 WEST OF THE 6TH P. M., COUNTY OF JEFFERSON, STATE OF COLORADO. PARCEL 2: THE W 1/2 OF THE NE 1/4 NW 1/4 SE 1/4 OF SECTION 23. TOWNSHIP 3 SOUTH, RANGE 69 WEST OF THE 6TH P M., EXCEPT THE NORTH 30 FEET IN USE AS WEST 44TH AVENUE, EXCEPT THE EAST 25 FEET IN USE AS UPHAM STREET, AND EXCEPT THE EAST 125 FEET OF THE NORTH 130 FEET THEREOF, AND EXCEPT THAT PORTION CONVEYED TO THE CITY OF WHEAT RIDGE IN DEED RECORDED JUNE 30, 1987 UNDER RECEPTION NO. 97085220. COUNTY OF JEFFERSON, STATE OF COLORADO. PARCEL C LOTS 3 AND 4, TIME SQUARE SUBDIVISION, EXCEPT THE FOLLOWING: THAT PORTION OF LOT 3 LYING SOUTH OF THE NORTHERLY LINE OF LOT 1, TIME SQUARE SUBDIVISION AS IF EXTENDED FROM THE EAST LINE OF SAID LOT 1 TO THE WEST LINE OF SAID LOT 1, WHICH LINE BEARS SOUTH 89 DEGREES 55 MINUTES 50 SECONDS WEST AND WHICH LINE IS THE SOUTH LINE OF THE NORTHWEST 1/4 NORTHWEST 1/4 SOUTHEAST 1/4 SECTION 23, TOWNSHIP 3 SOUTH, RANGE 69 WEST OF THE 6'1'U PRINCIPAL MERIDIAN, AND FURTHER EXCEPTING A PARCEL OF LAND BEING A PORTION OF LOT 3, TIME SQUARE SUBDIVISION, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT THE NORTHWEST CORNER OF SAID LOT 3, TIME SQUARE SUBDIVISION, THENCE NORTH 89 DEGREES 56 MINUTES 20 SECONDS EAST, ALONG THE NORTH LINE OF SAID LOT 3, A DISTANCE OF 195.00 FEET; THENCE SOUTH 00 DEGREES 02 MINUTES 46 SECONDS WEST, A DISTANCE OF 32.25 FEET: THENCE NORTH 89 DEGREES 56 MINUTES 20 SECONDS EAST. A DISTANCE OF 133.54 FEET TO A POINT ON THE EASTERLY LINE OF SAID LOT 3: THENCE SOUTH 00 DEGREES 02 MINUTES 46 SECONDS WEST, ALONG SAID EASTERLY LINE, A DISTANCE OF 55.92 FEET: THENCE LEAVING SAID EASTERLY LINE, SOUTH 89 DEGREES 56 MINUTES 20 SECONDS WEST, A DISTANCE OF 328.67 FEET TO A POINT ON THE WESTERLY LINE OF SAID LOT 3; THENCE NORTH 00 DEGREES 03 MINUTES 46 SECONDS EAST, ALONG SAID WESTERLY LINE, A DISTANCE OF 87.57 FEET TO THE POINT OF BEGINNING, COUNTY OF JEFFERSON, STATE OF COLORADO. PARCELS' \ THE NORTH 134 FEET OF THE SOUTH 272.3 FEET OF THE EAST 8.45 FEET OF THE EAST 1/2 OF THE NORTHWEST 1/4 OF THE NORTHWEST 1/4 OF THE SOUTHEAST 114 OF SECTION 23, TOWNSHIP 3 SOUTH, RANGE 69 WEST OF THE 6TH P.M., COUNTY OF JEFFERSON, STATE OF COLORADO. E E Ee '- g i F33' z 1f E 33 f2i#7 Ttj Yt 38a $ a `s_e a3.' 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In Sxwli,`7 Subdivision Cost Estimate \ Decel lane for 480 of 44th frontage of curb return into Vance Street Mast arm traffic signal Replacement of landscape and new 5' attached widewalk Internal Public Infrastructure and Upham St Permit Fees Quantity Unit $ Unit Cost Cost Permit Fees 0 IS $ - $ Cut - waste on site 213 CY $ S $ 960 Remove C &G 540 IF $ 5 $ 2,484 Replace C &G - Type( 540 IF $ 27 $ 14,580 Asphalt Patch 640 SY $ 60 $ 38,400 Pavement Markings 600 IF $ 1 $ 720 Bored Conduit 300 IF $ 34 $ 12,920 Traffir S,Bnal System 0 €A $ 250,000 $ - Future Phase Revegetation 0 SF $ 5 $ - Landscape Below 6'Attached Sidewalk w/4 "base 27W SF $ 6 $ 17,415 Traffic Control 1 IS $ 4,500 $ 4,500 Fire Hydrants 4 EA $ 3,SW $ 91,979 Internal Public Infrastructure and Upham St Permit Fees a IS $ - $ - Cut- waste on site 1200 CY 5 5 $ 5,400 estimate Remove C&G 0 OF $ 5 $ - none C &G - Type 1 24W OF $ 24 $ 57,600 Internal streets Asphalt Patch 142 SY $ 60 $ 8,520 Upham Pavement Markings 3800 IF $ 1 $ 4,320 Bored Conduit 0 OF $ 34 $ - Revegetation 48000 SF $ 0 $ 2,880 ('Attached Sidewalk w/4 "base 14400 SF $ 6 $ 92,880 Traffic Control 1 IS 5 2,500 $ 2,500 Asphalt Pavement 3088 SY $ 36 $ 111,168 8" Water Main 970 U $ 44 $ 42,680 Fire Hydrants 4 EA $ 3,SW $ 14,000 & Samdaiy Main 0 LF $ 30 $ - IV SamtaryServrte SO OF $ 30 $ 1,8W Sanitary MH 1 EA $ 4,500 $ 4,500 18 "RCP 301 U $ 42 $ 12,642 24" RCP 100 IF $ 62 $ 6,200 10" ACE 100 IF $ 92 $ 912W 36" RCP 620 IF 5 116 5 71,920 D10R Inlet 4 EA $ 3,800 $ 15,200 Type 1 MH 4 EA $ 4.200 S 16,800 36" FES 2 EA $ 11200 $ 2,400 WQ Pond 1 IS $ 86,000 S 86,000 Electric Distribution 1 IS $ 19,193 $ 19,193 Gaa Olatnbutiun 1 L5 $ 17,830 $ 17,830 Street Lighting 1 IS $ 38,000 $ 30,000 Communications 1 IS $ 16,000 $ 16.000 General Conditions 1 IS $ 35,000 $ 35,000 Project Management 1 LS $ 102,000 $ 102,000 $ 796,633 Landscaping and Pedestrian Ughemg Subdmsmn Landscaping (includes Pedestrian lighting) $ 252,000 Panda King Landscaping $ 68,000 S 320,000 Total 5 1 GA 10 W% $ 121,949 $ 1,330,561 Fee 7% $ 93,139 $ 1,423,900 Bond 3% $ 42,711 $ 3,466,4]1 CXI!113 /7 Bond No. \% KNOW ALL MEN BY THESE PRESENTS: that (an Individual), (a Partnership), (a Corporation), hereinafter referred to as "the Principal ", and hereinafter referred to as 'the Surety', are held and firmly bond unto the City of Wheat Ridge, Colorado, a municipal corporation hereinafter referred to as "the Owner ", in the amount of Dollars in lawful money of the United States, for the payment of which sum well and truly to be made, we bind ourselves, successors and assigns, jointly and severally, firmly by these presents. THE CONDITIONS OF THIS OBLIGATION are such that whereas the Principal entered into a certain Construction Agreement with the Owner, dated the _ day of , 20 , for the performance of certain Work (the "Construction Contract"), which is by reference made a part hereof, NOW, THEREFORE, if the Principal shall well, truly and faithfully perform its duties, all the undertakings, covenants, terns, conditions and agreements of said Agreement during the original tern thereof, and any extensions thereof which may be granted by the Owner, with or without Notice to the Surety and during the life of the guaranty period, and if shall satisfy all claims and demands incurred under such Agreement, and shall fully indemnify and save harmless the Owner from all cost and damages which it may suffer by reason of failure to do so, and shall reimburse and repay the Owner all outlay and expense which the Owner may incur in making good any default, and then this obligation shall be void; Otherwise the Principal and Surety shall have the following obligations: 1. If Owner is not in Default under the Construction Contract, Surety's obligation under this Bond shall arise after: 1.1 Owner has notified Principal and Surely at its address listed herein that Owner by seven days' written notice intends to terminate the services of Principal or otherwise declare Principal to be in default of its obligations under the Construction Contract; and 1,2 Owner has declared Principal to be in Default and formally terminated Principal's right to complete the Construction Contract; and 1.3 Owner has agreed to pay the Unpaid Balance of the Contract Price to Surety in accordance with the terms of the Construction Contract or to a Principal selected to perform \ the Construction Contract in accordance with the terns of the Construction Contract with Owner. 2. When Owner has satisfied the conditions of paragraph 1, Surety shall promptly and at Surety's expense take one of the following actions: 2.1 Arrange for Principal, with consent of the Owner, to perform and complete the Construction Contract; or 2.2 Undertake to perform and complete the Construction Contract itself, through its agents or through independent Principals; or 2.3 Obtain bids or negotiated proposals from qualified Principals acceptable to Owner for a contract for performance and completion of the Construction Contract, arrange for a contract to be prepared for execution by Owner and the Principal selected with Owner's concurrence, to be secured with the performance and payment bonds executed by a qualified Surety equivalent to the Bonds issued on the Construction Contract, and pay to Owner the amount of damages as described in paragraph 4 in excess of the Unpaid Balance of the Contract Price incurred by Owner resulting from the Principal's Default; or 2.4 Waive its right to perform and complete, arrange for completion, or obtain a new Principal and with reasonable promptness under the circumstances, after investigation, determine the amount for which it is liable to Owner and, as soon as practicable after the amount is determined and approved by Owner, tender payment therefor to Owner. 3. If Surety does not proceed as provided in paragraph 2 with reasonable promptness, Surety shall be deemed to be in default on this Bond 15 days after receipt of an additional written notice from Owner to Surety demanding that Surety perform its obligations under this Bond, and Owner shall be entitled to enforce any remedy available to Owner. If Surety proceeds as provided in subparagraph 2.4 and Owner refuses the payment tendered or Surety has denied liability, in whole or in part, without further notice, Owner shall be entitled to enforce any remedy available to Owner. 4. After Owner has terminated Principal's right to complete the Construction Contract, and if Surety elects to act under subparagraph 2.1, 2.2, or 2.3 above, then the responsibilities of Surety to Owner shall not be greater than those of Principal under the Construction Contract, and the responsibilities of Owner to Surety shall not be greater than those of Owner under the Construction Contract. To the limit of the amount of this Bond, but subject to commitment by Owner of the unpaid balance of the Contract Price and to mitigation of costs and damages on the Constriction Contract, Surety is obligated without duplication fra- 4.1 The responsibilities of Principal for correction of defective work and completion of the Construction Contract; and 4.2 Additional legal, design professional and delay costs resulting from Principal's Default, and resulting from the actions or failure to act of Surety under paragraph 2; o0 and 4.3 Liquidated damages, or if no liquidated damages are specified in the Construction Contract, actual damages caused by delayed performance or non - performance of Principal. 5. Surety hereby waives notice of any change, including changes to the Construction Contract or to related subcontracts, purchase orders and other obligations. 6. Any proceeding, legal or equitable, under this Bond may be instituted in any court of competent jurisdiction in the location in which the Work or part of the Work is located and shall be instituted within two years after Owner declares Principal to be in default or within two years after Principal ceased working or within two years after Surely refuses or fails to perform its obligations under this Bond, whichever occurs first. If the provisions of this paragraph we void or prohibited by law, the minimum period of limitation available to Sureties in the State of Colorado shall be applicable. 7. Any notice to the parties required under this Bond shall be in writing, delivered to the person designated below for the parties at the indicated address unless otherwise designated in writing. Only mailing by United States mail or hand - delivery shall be utilized. Facsimile and e-mail addresses may be provided for convenience only. OWNER: City of Wheat Ridge, Colorado 7500 West 29" Avenue PRINCIPAL: SURETY: Wheal Ridge, CO 80033 8. This Bond is to be governed by the laws of the State of Colorado. 9. Definitions. 9.1 Unpaid Balance of the Contract Price: The total amount payable by Owner to Pnncipal under the Construction Contract after all proper adjustments have been made, including allowance to Principal of any amounts received or to be received by Owner in settlement of insurance or other claims for damages to which Principal is entitled, reduced by all valid and proper payments made to or on behalf of Principal under the Construction Contract. 9 2 Default: Failure of the Principal or Owner, as the case may be, that has neither been remedied nor waived, to perform or otherwise to comply with the terms of the Construction Contract. IN WITNESS WHEREOF, this instrument is executed is five (5) counterparts, each one of which shall be deemed an original, this day of , 20 ATTEST: PRINCIPAL M (Corporate Seat) ATTEST: By: Attomey -m -Fact: (Surety Sea]) EVA Title: Address: SURETY Surety: By: Title: Address: NOTE: Date of Bond must not be prior to date of Construction Contract and Surety must be authorized to transact business in the State of Colorado and be acceptable to the Owner.