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Home My WebLink About0150 ~E[EPTION NO~ 910130?4 2/11'/91 15:1+3 2~\.C'l0 iO!ECORDED IN COUNTY OF JEFFERSON STATE OF COLORADO ..,.------..... :' I," h \ \ I'~ \,.~) 1 "---.. -~ "'- DEVELOPMENT COVENANT /~ r;yO THIS DEVELOPMENT COVENANT, as authorized by the SUBDIVISION REGU- LATIONS of the City of Wheat Ridge, is entered into this 17th \ \ daYM of . Ja;ua;y , 1991, lJetween the City of Wheat Ridge, \/ '\ a unlclpa orp<?ration, hereinafter referred to as City, and Barry W. and Laur1e G. Schafer hereinafter referred to as Owner, and concerns property located at 3801 Urban Street, 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 Lot 1, POOLE MINOR SUBDIVISION, more commonly known as 3801 Urban Street, (which property is hereinafter re- ferred to as the "Property"; and WHEREAS, Owner has requested a building permit to develop the property; and WHEREAS, curb, gutter, sidewalk and street improvements bordering the Property and neighboring tracts of land are incomplete and/or below those standards as set forth in the SUBDIVISION REGULA'l'IONS of the City; and WHEREAS, to be uniform and consistent with the existing neighbor- ing improvements, the completion or non-completion of those improvements as required by SEC'l'ION FIVE: IMPROVEMEN'l'S of the SUBDIVISION REGULA'l'IONS will make no significant change at the present in those streets fronting the Property and the neighbor- ing tracts of land; and WHEREAS, in order to conform to those requirements as set out in the SUBDIVISION REGULATIONS of the City, this Development Cove- nant 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. The Owner will cause certain improvements to be constructed on the Property and associated on-site improvements. 3. The Ovmer will provide engineering and construction neces- sary to Lring the west half of Urban Street into compliance with Ci ty Standards along the property frontage when the condi t.ions specified on the Poole Minor Subdivision Plat are met. 4. Any substandard improvements made to the "private drive" (Urban Street) along the frontage of the Property must be brought into conformance with City Standards prior to acceptance by the City for City Maintenance. 5. The Owner will provide facilities to accommodate additional runoff from any improvements to Urban Street which may adversely affect downstream property owners. 6. In the event the City incorporates Urban Street into a City funded project, the Owner agrees to pay for costs associated with bringing the west half of Urban Street into conformance with City Standards. Such costs will include curb, gutter, sidewalk, street pavement, engineering, etc. 1 RECEPTION NO. 91013034 Development Convenant 3801 Urban Street - page 2 7. The City has scheduled reconstruction and rehabilitation of this portion of West 38th Avenue in the immediate future. Plans for the construction are not complete at this time and the City anticipates changes in grade and alignment along the frontage of the Property which may necessitate removal and replacement of any construction performed by the Owner. Therefore, the owner agrees to participate in the City's West 38th Avenue improvement project. The City will design and administrate the project and ~ the owner will be responsible for associated costs along the property frontage. The engineering and construction costs will be limited to those reasonable, and necessary to construct West 38th Avenue along the property frontage to current collector standard, including earthwork, additional street pavement to expand to collector width, curb, gutter and walk and miscellane- ous and incidental items required to complete the project. The costs shall be based upon the construction contract unit prices for this project. The construction work will be performed by the City's contractor. 8. The Director of Public Works will give written notice and an estimate of costs to the Ovmer 30 days prior to advertisement of any major improvements to 38th Avenue which would affect the Propert't' and will subrni t to the Owner a detailed cost breakdown and billing after Award of the construction contract b11 City Council. The detailed cost estimate will include the Owner's portion of the cost of curb, gutter and sidewalk, pavement im- provements and other items listed in Paragraph 7. g. Upon receipt of the detailed cost estimate or billing, the Owner hereby agrees to pay to the City, within 45 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 estimat- ed contract quantities or as a result of change orders within 30 days of written request for payment by the City. The City will pay to the Owner any overcharges paid by the Owner within 45 days after final acceptance of the public improvements. 10. Owner agrees to pay for all public improvements or billings so made within 45 days of written notice; Owner further agreeing that any amount resulting from his failure to pay for any im- provement or billing this completed shall constitute a lien upon the property above described in the actual amount of the public improvements or billing completed, less any payments by Owner, plus interest in the amount unpaid at 10 percent (10%) 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. 11. 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 as they exist at the date of execution of this Covenant, for curb, gut- ter, sidewalk related street and drainage improvements, solely relating to those streets fronting on the property and neighbor- ing tracts of land, the Owner or his assigns and successors agree not to oppose its creation, or subsequent reasonable assessment of the costs to the property. 12. In the event an Improvement District is created by the City to provide the improvements as provided by the SUBDIVISION REGU- LATIONS, t.he costs assessed against the property shall not be disproportionate with costs assessed to other nearby and like properties. RE~EPTION NO. 91013034 2 - RECEPTION NO. 91013034 Development Covenant 3801 Urban Street - page 3 13. This DEVELOPMEN'l' COVENAN'l' is executed by the Owner pursuant to the SUBDIVISION REGULATiONS of the City of Wheat Ridge. 14. The Parties hereto agree that this DEVELOPMENT COVENANT, by its terms, s]lall be binding upon the City and the Owner and upon t.he assigns and successors thereof; and shall constitute cove- nants running with the property for a period of ten (10) years from date of execution by the Owner. 15. The City, in its sole discretion, may require a cash or surety bond to be held in escrow by the City to secure completion or the public improvements described herein. Such cash or surety bond shall be in the sum sufficient to cover the estimated costs of the construction of the public improvements described herein, said estimate to be made at or about. the t.ime of the notice described in Paragraph 5 above. Any interest earned on any escrow funds shall be the sole property of the City. 3 16. This 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 DEVELOPMEN'l' COVENANT shall be released by the City upon the completion of the public improvements and complete and satis- factory 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. RECEPTION NO. 91013034 3 RFrFP1ION Nn. 9101303~ Developnlent Covenant 3801 Urban Street - page 4 SPECIAL PROVISIONS AND COVENANT This Covenant shall be in effect for a period of ten (10) years from date of execution. IN WITNESS WHEREOF, the parties have set their hands and seals on date first shown. o RECOMMENDED BY: epartment ~ ~~--" ,:/:~'" 7~L' City Administrator APPROVED.-jAS"...TO FORM: . ,(-7)/ Ci ;/r;:t~r(; .- ~ =, t F' EXECUTED BY CITY: ATTEST: ~~ Mayor, City of Wheat Ridge ! , /' --....-"/ _~~_, c..._ City Clerk " " ,/ d :$BAL ", EXECUTED BY OWNER(S): / , Schafer Lauire G. Schafer STATE OF COLORADO ) )ss County of Jefferson) The foregoing instrument was acknowledged before me this " nite day of "'1 '{f' , ,(, ...(.l t- ~(j ._ / (J, / ~,IY{"' I ~ L 'L 1991, by . ~ ' c( " ~.$ ,. , My commission expi res: '/i (. h", , 19 /- / , I ~ ,) " ... J ( , ,,'I - !-( !(&L It; Not,ary Public ) , ",--'7th i, \ \ !)tr) I: h~' , / ,,' j <Y\"... /. rf'..' . I, ~'\ SEJ,lL " C\ i I i :/{ i '/ :/~,1f "t 1 ( .: - l; 1_ \ v. ' l ({ . (. 1< , - " ~. ."" - 4