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Home My WebLink AboutStandard Pacific1111111111 lllllllllllllilllllllllllllllllll o SO.00 2013101733 08/16/2013 03:00:04 PM 6 Page(s) JEFFERSON COUNTY, Colorado DEVELOPMENT COVENANT AND RESTRICTION This Development Covenant and Restriction is entered into this 12th day of August, 2013, by and between the City of Wheat Ridge, Colorado ( "City ") and Standard Pacific of Colorado, Inc. (the "Declarant "). 1. Burdened Property. Declarant is the owner of the real property located in Jefferson County, Colorado, described in Exhibit A (the "Burdened Property "), attached hereto and incorporated herein by this reference. 2. Imposition of Restrictions. Declarant, for itself, its heirs, successors and assigns, hereby covenants and agrees that: A. Construction of Public Improvements The Burdened Property may not be developed, no building permit for such development may be issued by the City, and no individual lot within the Burdened Property may be conveyed, unless and until all public improvements necessary to serve the Burdened Property, as further described and defined in Exhibit B (the "Public Improvement "), attached hereto and incorporated herein by this reference, have been constructed and accepted by the City. B. Security for Public Improvements The construction of the Public Improvements shall not commence until a letter of credit, in a form acceptable to the City and in conformance with this subsection 2.B., adequate to assure the installation and construction of all such improvements, excepting the off -site sanitary sewer improvements specified in Exhibit B, in a manner acceptable to the City and in a reasonable period of time, is received by the City. The amount of the letter of credit shall be one hundred twenty -five percent (125 %) of the estimated costs of the Public Improvements, based upon an itemized cost estimate prepared by the developer and approved by the City. The letter of credit shall be in effect for a minimum period of one (1) year and shall be renewable for subsequent one -year periods at the City's sole discretion. The letter of credit shall be such that the City is assured that the constructing party has funds committed to the amount and for the purpose of constructing the Public Improvements and that, in the event of a default by the constructing party, the City shall have available to it, upon demand, funds necessary to construct any /or all of the Public Improvements and pay for the same. No portion of the security required by this Subsection 2.B. shall be released and in no event shall the amount of said security be reduced unless and until all Public Improvements have been constructed and accepted by the City. C. Public Improvements and Warranty The Public Improvements shall be constructed in accordance with the construction documents drawn according to regulations and construction standards for such improvements and approved by the Director of Public Works of the City, or his or her designee (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 Declarant shall warrant any and all Public Improvements for a period of two (2) years from the date the Director certifies that the Public Improvements conform to specifications approved by the City. Specifically, but not by way of limitation, the Declarant 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 Declarant is required to install and maintain landscaping on public or private property, it is the obligation of Declarant 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. 3. Burden Runs With Land. Declarant hereby declares that this Restriction shall pass with and burden each and every tract, lot, and parcel of land within and which is a part of the Burdened Property, and shall apply to and be binding upon the heirs, successors in interest and assigns of the Declarant and any other owner hereafter of said tracts, lots and parcels, and shall run with the land at law and in equity. 4. Vesting of Interests. It is the intention of Declarant that any and all interests in real property created by this Covenant and Restriction must vest, if at all, not later than twenty -one (21) years after the death of the last to die of the following group of persons, all of whom are alive as of the date of execution of this Declaration: John Hickenlooper and John Suthers. 5. Severability. If any provision of this Declaration of Covenant and Restriction is held to be invalid by a court of competent jurisdiction, the invalidity of such provision shall not affect the validity of the remaining provisions. 6. Recording. This Declaration of Covenant and Restriction shall be recorded in the real estate records of Jefferson County and shall be a covenant running with the Burdened Property in order to put prospective purchasers or other interested parties on notice as to the terms and provisions hereof. IN WITNESS WHEREOF, the City and Declarant have each caused this Development Covenant and Restriction to be signed by its duly authorized agents as of the day and year first above set forth. DECLARANT: STA AC C C DO, INC By: Robert R. Reid, Senior Vice President STATE OF COLORADO ) ss. COUNTY OF �►i(a e.s� —_ ) The foregoing instrument was acknowledged before me this 12th day of August, 2013, by Robert R. Reid, Senior Vice President, Standard Pacific of Colorado, Inc. Witness my hand and official seal. My commission expires: NinA.v rusuc STATE OF 001.ORADO Notary 1D 2009 '.'. (SEAL) CITY OF WHEAT RIDGE, COLORADO TZpa , D rector of Pu lic Works ATTEST: J lle Shaver, City Clerk O ,W H SEAL - \OLORPO/ 3 EXHIBIT A Doud Overlook Legal Description COMMENCING AT THE SOUTHEAST CORNER OF SAID SECTION 20 AND CONSIDERING THE SOUTH LINE OF THE SOUTHEAST QUARTER OF SAID SECTION 20 TO BEAR SOUTH 89 0 22'34" WEST, AND MONUMENTED AT EACH END WITH AN ALUMINUM PIPE WITH A 3 -1/4" BRASS CAP STAMPED "LS13212" IN A RANGE BOX AS SHOWN ON THE GRAPHICAL EXHIBIT ATTACHED, WITH ALL BEARINGS CONTAINED HEREIN RELATIVE THERETO; THENCE SOUTH 89 0 22'34" WEST, ALONG SAID SOUTH LINE, A DISTANCE OF 666.85 FEET TO THE SOUTHEAST CORNER OF SAID WEST HALF OF THE SOUTHEAST QUARTER OF THE SOUTHEAST QUARTER OF SECTION 20, SAID POINT ALSO BEING THE POINT OF BEGINNING; THENCE SOUTH 00 0 41'02" EAST, ALONG THE EAST LINE OF SAID WEST HALF OF THE NORTHEAST QUARTER OF THE NORTHEAST QUARTER OF SECTION 29, A DISTANCE OF 76.55 FEET TO A POINT ON THE NORTHERLY RIGHT -OF -WAY LINE OF WEST 38TH AVENUE, SAID POINT BEING 60.00 FEET NORTHERLY, BY PERPENDICULAR MEASUREMENT, FROM THE NORTHERLY LINE OF APPLEWOOD RIDGE SUBDIVISION AS RECORDED AT RECEPTION NO. 69327552 OF THE RECORDS OF THE JEFFERSON COUNTY CLERK AND RECORDER; THENCE SOUTH 80 °07'50" WEST, ALONG SAID NORTHERLY RIGHT -OF -WAY LINE, PARALLEL WITH SAID NORTHERLY LINE OF APPLEWOOD RIDGE SUBDIVISION AND SAID NORTHERLY LINE EXTENDED, A DISTANCE OF 661.31 FEET TO A POINT ON THE EASTERLY LINE OF THAT PARCEL OF LAND DESCRIBED IN DEED RECORDED AT RECEPTION NO. F0310303 OF THE RECORDS OF THE JEFFERSON COUNTY CLERK AND RECORDER; THENCE NORTH 00 °31'12" WEST, ALONG SAID EASTERLY LINE, A DISTANCE OF 995.46 FEET TO A POINT ON THE SOUTHERLY LINE OF THAT PARCEL OF LAND DESCRIBED IN DEED RECORDED IN BOOK 2325 AT PAGE 309 OF THE RECORDS OF THE JEFFERSON COUNTY CLERK AND RECORDER; THENCE ALONG SAID SOUTHERLY LINE THE FOLLOWING SIX (6) COURSES: 1. NORTH 63 0 13'44" EAST, A DISTANCE OF 47.91 FEET; 2. NORTH 83 0 15'13" EAST, A DISTANCE OF 149.96 FEET; 3. NORTH 79 0 21'51" EAST, A DISTANCE OF 46.91 FEET; 4. NORTH 82 0 19'26" EAST, A DISTANCE OF 41.41 FEET; 5. SOUTH 86 °47'19" EAST, A DISTANCE OF 81.84 FEET; 6. NORTH 70 0 22'28" EAST, A DISTANCE OF 289.76 FEET TO A POINT ON THE WESTERLY LINE OF THAT PARCEL OF LAND DESCRIBED IN DEED RECORDED AT RECEPTION NO. F0633461 OF THE RECORDS OF THE JEFFERSON COUNTY CLERK AND RECORDER; Si THENCE SOUTH 33 0 47'53" EAST, ALONG SAID WESTERLY LINE, A DISTANCE OF 36.22 FEET TO A POINT ON THE EAST LINE OF THE WEST HALF OF THE SOUTHEAST QUARTER OF THE SOUTHEAST QUARTER OF SAID SECTION 20; THENCE SOUTH 00 0 22'28" EAST, ALONG SAID EAST LINE, A DISTANCE OF 921.57 FEET TO THE POINT OF BEGINNING, SAID PARCEL CONTAINS A CALCULATED AREA OF 655,754 SQUARE FEET, OR 15.054 ACRES, MORE OR LESS. EXHIBIT B DESCRIPTION OF PUBLIC IMPROVEMENTS ITEM 1. Storm Sewer System 2. Outfall Sewer to Detention Pond 3. Sewer Downstream of Detention Pond 4. Nyloplast Drains 5. Detention Pond 6. 38 Avenue Street Improvements 7. Tabor Court Street Improvements 8. Taft Court Street Improvements 9. W. 38` Place Street Improvements 10. W. 39 Place Street Improvements 11. Signage & Striping 12. Grading & Erosion Control -Phase A 13. Grading & Erosion Control -Phase B Sub -Total = 25% Contingency = COST $115,571 $40,051 $30,665 $21,835 $50,258 $262,559 $128,948 $97,737 $45,580 $50,037 $17,630 $21,618 $55,654 $938,142 $ 234,535 TOTAL Roadway/Drainage Improvements = 14. Sanitary Sewer Improvements (Onsite) 15. Water Improvement Infrastructure TOTAL PUBLIC IMPROVEMENTS = $1,172,677 $119,306 22 2 $1,519,251