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Home My WebLink About0114 8 ') A I ~ ? ') /' 1_ U f '- l. ; , I" v ~ ~ III+- '--- 01) q. TIllS DEVELC11'1'1l;NT ^(;HEI,:r-1EN'l', a~; authori,z0d by the SUI3DIVlf,TON HEGULNI'lOiliS o[thc CITY OF \mJ:1\'l' HIDGY, is enteH'd into thi~; 1(, day of Jovell'ber " ]981, between the cit,y of \'ihe<:lt Hic1c)e, a Nunicipill-co-l~por<;ti0r1', hereinafter referred to uS City, ancl E.,), IClcc"/ettCl :!]h1 E. cTean "tV.IV'ctt," hereinuftcr referred t,G <lS -Owncr~' and concerns prop(~rty located at llOo~~ Hest 44th \venue Tdheat Fic.L,e,\ ,'_ll-.JY"l,j.) , DEVELOl'Hl:N'[' j\GHr:l';~IEN't " J" _L t , c; C /__3 WIT N E SSE T H . WHERE^S, Ovmer is the titled Owner of a tract of land in the City of \Iheat Ridge, County of Jefferson, State of Colorado, more fully described in Exhibit A, which is attached hereto and expressly made a part hereof (which property is hereinafter referred to as "the Property"); and WHEREAS, Owner desires to develop the Property but has not been issued a Building Permit as of cTo"emller lC., l'),J:" to do ,so; and WHEREAS, curb, gutter, sidewalk and street improvements boarding the Property and the neighboring tracts of land are incomplete and/or below those standards as set out in the SUBDIVISION REGULATIONS of the City; and WHEREAS, to be uniform and consistent with the existing neighboring improvements, the completion or non-completion of those improvements as required by SECTION FIVE: IMPROVEMENTS of the SUBDIVISION REGULATIONS will make no significant change at, the pres~nt in those streets fronting the Property and the neighboring tr2~ts of land; and WHEREAS, in order to conform to those requirements a~ set out in the SUBDIVISION REGULATIONS of the City, this agreeme,t is hereby determined to be proper. NOW, THEREFORE, IT IS HEREBY AGREED THAT: 1. The responsibility for meeting, conforming to and providing those requirements as set out in the SUBDIVISION REGULATIONS of the Cit~ is hereby recognized by O\vner. 2. The Director of Public Works, upon the direction of the Mayor or the City Administrator, shall give written notice directing the Ovmer or his assigns and successors to meet those require- ments as set out in th(" SUBDIVISION REGULATIONS of the City and to construct public improvements described above, including curb, gutter, sidewalks and street improvements. 3. Upon receipt of such notice to furnish or construct the public improvement as required under the SUBDIVISION REGULATIONS of the City, Owner hereby agrees to construct and furnish at Owner's cost, such improvements as are required by the SUBDIVISION REGUL~TIONS of the City, and to do so in conformance with the design standards of the SUBDIVISION REGULATIONS of the City. 4. Owner agrees to construct, or cause to be constructed, all public improvements required hereby wi thin Go d<lYs of the date of receipt, of the notice described in the preceding paragraph. In the event such public improvements are not completed within such time, the Cit" is here'by authorized to enter upon the Propertv either by its employees or through agents, contractors, or ,;ub- contractors, and to complete the public improvements described ."J C'o..l r-- C.:> C'o..l 0;:) hcrt'ln, said CCJlllplpLioll La be ilCTUll\pli.~.h"ll;l.tO\vnf,r'~~ ~;ol~~ C':'-ll\'l\~;(,. O"Il\<, I il.Cju,'c~; to pay for all ill\l'l'uvl'r1\f'nt~; ~;() miHlc wiLhi,n ]0 cl.1Y~; of the uate of complctioll, Ownc'r i IIcLht'l: aqn'c'illCj thed' any amount', rcsulLing from his failurf> to PdY for a!1Y jll\provl'I1H'nt: tllU~> COllII'1L'Leu shilll constitnLe a lie:n upon th.,' J>~:oi'~,rt:y above cll~~;crih(,d in tIll' actual Clmount of the public imI)l'ovC'fI1cnts C'or,lplctccl, less any PilY- mcnts made by Owner, plus interest on the Jrnount unpaid ilt 10 percent per aIlnum from the date o[ complet ion, plus any cost~; /} incurred by the city in collecLin<J SilffiC; including court costs ,L- and attorney's fees. 5. In the event an Improvement District or a Special Improvement District is created by the City to improve or provide those requirements as set out in the SUBDIVIE;lON HEGULl\TIONS fer those streets or streets fronting the Property and the neighboring tracts of lands, the OWIIer or his assigns and successors agree not to oppose its creation, or subsequent assessment of the costs to the Property. 6. In the event an Improvement District is created by the City to provide the improvements as provided by the SUBDIVISION REGULATIONS, the costs assessable against the Property shall not be dispropor- tionate with costs assessable to other nearby and like properties. 7. This agreement is executed by the Owner pursuant to the SUBDIVISION REGULATIONS of the CITY OF WHEAT RIDGE. 8. The parties hereto agree that this DEVELOPMENT AGREEMENT, by its terms, shall be binding upon the City and the Owner and upon the assigns and successors thereof; and shall constitute covenants runni~g with the Property. 9. The (ity, in its sole discretion, may require a cash or surety bond to be held in escrow by the City to secure completion of the public improvements described herein. Said cash or surety bono shall be in a sum sufficient to cover the estimated costs of t;le construction of the pul;lic improvements deseri l,ed herein, ~aid estimate to be made at or about the time of the not~ce descr~bed in paragraph 2 above. In the event tho Owner fails to complete the public improvements within the time specified in par~sraph 4 hereof, tho City may, at its sole option, complete or cause to be completed, said construction and use all, or any part, of the cash or surety bond to pay for, or cause to be paid, all bills and costs incurred in completing said public improve- ments. Any interest earned on any escrow funds shall be the sole property of the City. 10. This DEVELOPMENT AGREEI'lENT shall be recorded vlith the Clerk and Recorder of Jefferson County, Colorado, and shall constitute a continuing covenant running with the land; provided, however, that this DEVELOPMENT AGREEMENT shall be released by the City upon the completion by the Owner of the public improvements described herein, which release shall be evidenced by a signed document, attested to by the City Clerk and bearing the City's seal, which document shall likewise be recorded. SPECIAL PROVISIONS AND AGREEMENT: The instdllatiun Jl carb, ~utter anl five foot-wile ~ilew~lk adjacent to 114th Auenue :in 1 re'~rsun ':lnrl 3,ny lrCLinCl..:."e i..'llprr_1 .re..'uent ~ per cq.JT-,rovt:',l clralnar"e re uort at LI-It --: ' ~~, coeJ:lonl:r kilO",)] ~::; :31:=l~~'_'n (;llb(livi~31()n, Terfel"'~~on Cunnty, I_:olorado, lll)')'~! "'lest 44th "venue. - 2 .' J~,IJ "-li'l'Nl'S,; \vIU-:rZL:OI:', th.' parLi.J~!-:; hilVC set t.heir h...lncls unc1 s('al~; en ... date1:.L1.'sc ~;howll. c--J r- RECOl'ldENDEO BY: c::> c--J CO APPROVE /) / - ~/---- L__~ cJ;;ty Attorney ,,,--- ~1 --~.. ------ ./ ,~'EXECUTED BY O\VNER: c' I --t-!-- <-I (I - (tc-.,'>-,.,-,'{LZ ---A I , ;...&.-' L- , , \_'1,. r:,.L(; (-_'-r ~~ STATE OF COLORADO ) ) COUNTY OF JEFFERSON ) ss. Departmc:.) 4&5h~C~ City/Administrator EXECUTED BY CITY: ~/J;AiA/~'- Mayor, City of Wheat Ridge ATTESTED TO BY: ~~1~TcJ2 ~ H - 'f'- ~~" /' , D. ". of , - ) /,.., -,;t>-' -L..J l-'/ /J 1'_1., ( The ioregoing instrument was executed before me this ~ .T:::'{da.y }-:' /) L- ~ V -- , I rj,~i'l - ,. j , 1981, by My t.l'..'mission expires: .' j" d.) ~ . I',r '- /,' ""'---./;1/- ~ "..' '-, /, iT_ ,j! ) ~.~ ~Jj~'. ~ ,i!/,"'" ~ ~ ..~.,\ ~ " ~;' ~ r~ ~ . , r' ... , I, .~ J,,/ / {'c Notary Public . ".."......." "'::.,. \.~,.~ " _/ ..L/ D,..,:,;;,,;_ _..,. " . 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