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AGREEl1ENT
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THIS AGREEMENT made and executed this
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1981, by and between the City of Wheat Ridge, Colorado, (herein-
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after referred to as "City") and Donna Dunaway and Dennis C. Rider
(hereinafter referred to as "Dunaway/Rider").
WIT N E SSE T H :
WHEREAS, Dunaway/Rider own certain real property within the
City, which property is located within an area designated on the
Wheat Ridge Comprehensive Development Plan and is known as the
Wadsworth Activity Center;
WHEREAS, the City wishes to encourage the development of the
Wadsworth Activity Center in a unified, well-planned manner to
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serve as a central commercial/community facility within the City;
WHEREAS, assuring safe and adequate and internal vehicular/
pedestrian traffic patterns wi thin the various portions of the
Wadsworth Activity Center is a priority of the City to assure the
ability of the Center to be developed to its maximum potential;
WHEREAS, Dunaway/Rider own, and have previously had plans
for development approved, a portion of property within the Center
which is needed for safe and adequate internal circulation of
vehicular and pedestrian traffic and for the unified development
of the Wadsworth Activity Center;
WHEREAS, Dunaway/Rider have spent substantial sums in the
development of said property, but are willing to halt current
development and to redesign the configuration and location of
their approved structure(s) to aid the traffic and development
considerations above specified;
WHEREAS, the City and Dunaway/Rider have agreed on a figure
for purchase by the City of a public right-of-way across the
property of Dunaway/Rider;
WHEREAS, the parties wish to set forth ln full all of their
agreements and understandings;
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NOW, THEREFORE, for consideration specified herein, the parties,
for themselves, their heirs, successors and assigns, do hereby agree
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as follows:
1. Dunaway/Rider agree to convey to the City a perpetual
right-of-way for the benefit of the general public over, upon and
through the real property described in Exhibit A, which exhibit is
attached hereto and expressly incorporated herein.
Dunaway/Rider
further agree to halt any and all construction activities currently
being maintained on said property, and to realign the configuration
and location of any structure(s) to be built on the property they own
so as to be consistent with the overall layout and design of the
Wadsworth Activity Center and to be compatible with the conveyance
hereby granted.
2. As consideration to Dunaway/Rider for the conveyance above
described, the City agrees to pay to Dunaway/Rider the sum of
$49,517.50 for Easement A on the new plat which is Exhibit A; said
plat will be recorded at the County by the City.
3. As further mutual consideration, and as a basis for this
Agreement, the parties respectively agree as follows:
A. City agrees:
I. To vacate an existing east-west easement which
is described in Exhibit B which is attached hereto and
expressly incorporated herein.
2. To prepare an Urban Renewal Plan or a mini-master
plan as an amendment to the Wheat Ridge Comprehensive
Development Plan showing the subject parcel (Exhibit A) as
a connecting easement within the Wadsworth Activity Center.
3. To consider, as an integral part of the development
of the Wadsworth Activity Center as a unified, central
activity center, the issuance of Industrial Revenue Bonds,
if so requested by Dunaway/Rider.
It is expressly under-
stood, however, that nothing contained herein constitutes
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a promise to issue any such bonds, and no official of the
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City has promised such issuance, the question of issuance
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of Industrial Revenue Bonds being a matter in the sole
legislative discretion of the then lawfully elected City
Council of the City of Wheat Ridge.
B. Dunaway/Rider agree:
1. To replat, in cooperation with adjacent and other
affected property owners, the property to designate and
identify the right-of-way granted hereby, and, simul-
taneously, to vacate the existing easements owned by
Dunaway/Rider.
2. To construct any new structure on their property
east of the right-af-way shown on Exhibit A, and to use
all land west of said right-of-way for traffic circula-
tion, parking and landscaping.
3. To participate in any special improvement district
established within the Wadsworth Activity Center if the
public project outlined and discussed at a Study Session
of the Wheat Ridge City Council on April 6, 1981, is
generally implemented.
4. This Agreement shall be binding upon the heirs, successors
and assigns of the parties signatory hereto, and may be amended or
terminated only by a writing signed by each of the parties.
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Donna Dunaway
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D~htis C. Rider
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THE CITY OF WHEAT RIDGE, COLORADO
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By
Frank
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St'ites, r1ayor
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