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Home My WebLink About0131 RECORDED IN COUNTY OF JEFFERSON STATE OF COLORADO RECEPTION NO. 87042651 04/02/87 13:50 9.0C ,~ '"" 01/~ DEVELOPMENT COVENANT THIS DEVELOPMENT COVENANT, as authorized by the SUBDIVISION REGU- LATIONS of the City of Wheat Ridge, is entered into this 20th day of March, 1987, between the City of Wheat Ridge, a Municipal Corporation, hereinafter referred to as City, and Louis J. Ficco and Anthony M. Ficco, hereinafter referred to as Owner, and concerns property located at 10600 West 38th Avenue, Wheat Ridge, Colorado. WITNESSETH: WHEREAS, Owner is the titled Owner of a tract of land in the City of Wheat Ridge, County of Jefferson, State of Colorado, more fully described as Exhibit A, which is attached and expres- sly made a part hereof (which property is hereinafter referred to as "the Property"); and WHEREAS, Owner has been issued a building permit to develop the Property and is desirous of obtaining a Certificate of Occu- pancy; and WHEREAS, curb, gutter, sidewalk and street improvements bordering the Property and neighboring tracts of land are incom- plete and/or below those standards as set forth in the SUBDIVI- SION REGULATIONS of the City; and WHEREAS, to be uniform and consistent with the existing neighboring improvements, the completion or noncompletion of those improvements as required by SECTION FIVE: IMPROVEMENTS of the SUBDIVISION REGULATIONS will make no significant change at the present in those streets fronting the Property and the neighboring tracts of land; and WHEREAS, in order to conform to those requirements as set out in the SUBDIVISION REGULATIONS of the City, this Covenant is hereby determined to be proper. NOW, THEREFORE, IT IS HEREBY AGREED THAT: 1. The responsibility for providing improvements along the street frontage of the Property, as set out in the SUBDIVISION REGULATIONS of the City, is hereby acknowledged by the Owner. 2. West 38th Avenue is scheduled for major improvements by the City of Wheat Ridge in the near future. The City has not pre- pared a design for the street grades at this time and desires the Owner not to construct improvements along either 38th Avenue or Nelson Street until a street grade design for 38th Avenue satis- factory to the City has been prepared. The City anticipates completing the design in early 1989 with construction to follow soon after. The Owner is desirous of obtaining a Certificate of Occupancy for the subject property. A requirement of the City prior to issuance of a Certificate of Occupancy is construction of public improvements or execution of an agreement which will guarantee construction of public improvements to Nelson Street and 38th Avenue along the property frontage. There are three alternatives to be considered: A. The Owner may design the street profile and flow line grades and necessary drainage facilities along 38th Avenue and Nelson Street and construct all necessary curb, gutter, sidewalk, inlets, stubouts and pavement reconstruction along his frontage, subject to City approval and at Owner expense. B. The City will design the improvements along 38th and Nelson Street as part of the 38th Avenue project. The Owner will be notified by the Director of Public Works 30 days in advance of advertisement of the project and will be given an engineer's estimate of cost with the notice. The Owner will then have the opportunity to install curb, gutter, sidewalk, inlets and stubouts along his frontage with his own forces and at his own expense and will set his own elevations in accordance with the City plans. The improvements must be in progress prior to advertisement of the project by the City. Any delays in the City's project attributable to the Owner's activities will be billed to the Owner. C. In the event the Owner desires to have the City construct his portion of the improvements or has not began them prior to advertisement of the project, the City will construct the improvements and bill the Owner for his share of all costs, as outlined in paragraph B above, engineering excluded, for the owner's frontage improvements to 38th Avenue and Nelson Street. 3. After award of the construction contract for the project, The Director of Public Works will prepare a detailed estimate of costs based upon contract prices for the improvements listed in paragraphs Band C above for the Owner's share of the construction costs for West 38th Avenue and Nelson Street. Upon receipt of the detailed cost estimate or billing, the Owner hereby agrees to pay to the City, within 30 days, the full amount of the detailed cost estimate or billing. The Owner also agrees to pay to the City any extra costs associated with the Public Improvements to the property due to variations in estimated Contract Quantities or as a result of change orders within 30 days of written request for payment by the City. The City will prepare a final cost for the Public Improvements and will pay to the Owner any overcharges paid by the Owner within 30 days after final acceptance by the City of the Public Improvements. 4. Owner agrees to pay for all public improvements as detailed above or billings so made within 30 days of written notice; Owner further agreeing that any amount resulting from his failure to pay for any improvement or billing thus completed shall constitute a lien upon the property above described in the actual amount of the public improvement or billing completed, less any payments by Owner, plus interest in the amount unpaid at 10 percent per annum, from the date of final acceptance or billing, plus any costs incurred by the City in collecting same, including court costs and attorney 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 SUBDIVISION REGULATIONS for those streets or streets fronting the property and the neigh- boring tracts of lands, the Owner 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 assessed against the property shall not be disproportionate with costs assessed 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 COVENANT, by its terms, shall be binding upon the City and the Owner and upon the assigns and successors thereof; and shall constitute covenants running with the property. 9. The DEVELOPMENT COVENANT shall be recorded with the Clerk and Recorder of Jefferson County, Colorado, and shall constitute a continuing covenant running with the land, providing however, that this DEVELOPMENT COVENANT shall be released by the City upon the completion of the public improvements and complete and satisfactory payment by the Owner of all costs and fees associated therewith 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 IN WITNESS WHEREOF, the parties have set their hands and seals on date first shown. ~"\. L. 1 1-' /\ " Public woris Department ) /:i) -- ~ ?/'1tt..v7'HC> '., 7C / .d!J/~'~ City Administrator -/ I ATTEST }I, I If, L , ( ~j City Clerk -) " J.r( .r C ) RECOMMENDED BY: EXECUTED BY CITY: , ,7, - 1+' ,- , ,I.., ~ ,,: Ii .J l~ (1.,_ Mayor, City of Wheat Ridge Seal EXECUTED BY OWNER: /):;;(; - ,,~ - ,~r- /, ;:- , ' ~, ->C <...,(_,,' ',' 1/ ,,// --"~ /-/~-7?'J :4 /7 ~ ./~ .-: ;: ~~ ---c-7~"'...-... '/ ...-c~--,-_~ - S'l'ATE OF C 8d The day of Seal -3 Y.,r , 19 fjgr' . ~d1<? ~ !tJ~' . ) My commission