HomeMy WebLinkAbout5.0 SIARecorded of ICY) o'clock Q M. JUL 2483
Reception No. 3440S6 MILDRED ALSDORF, RECORDER E3l]1 631 P*GE 121_
SUBDIVISION IMPROVEMENTS AGREEMENT
GARFIELD COUNTY
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THIS AGREEMENT, made and entered into thise,2S—day of , 1983,
between HAWK RIDGE, a Colorado Limited Partnership, hereinafter referred to as
Hawk Ridge, a Colorado Limited Partnership, BOARD OF COUNTY COMMISSIONERS OF
GARFIELD COUNTY, COLORADO, hereinafter referred to as the "County",
WITNESSETH:
WHEREAS, Hawk Ridge is the owner of certain real property located in
Garfield County, Colorado, more particularly described on the final plat for
Hawk Ridge Subdivision, which is filed on even date herewith, which real
property is now known as "HAWK RIDGE SUBDIVISION", hereinafter referred to as
the "subdivision"; and
WHEREAS, the County has required and Hawk Ridge has agreed to provide
security or collateral sufficient in the judgment of the County to make
reasonable provision for completion of certain public improvement as set forth
on Exhibit "B" attached hereto and incorporated herein by this reference; and
WHEREAS, Hawk Ridge has agreed to execute and deliver a letter of
credit to the County to secure and guarantee its performance of this Agreement
and has agreed to certain restrictions regarding the issuance of building
permits and certificates of occupancy within the subdivision, all as more
fully set forth hereinafter;
NOW, THEREFORE, for and in consideration of the premises and the
following mutual covenants and agreements, the parties hereby agree as
follows:
1. Hawk Ridge's Performance. On or before December 31, 1984, Hawk
Ridge agrees to construct and install, or to cause to be constructed and
installed, at its sole expense, those public improvements set forth on Exhibit
"B" attached hereto. Hawk Ridge agrees that all of the public improvements to
be completed as identified on Exhibit "B" attached hereto shall be constructed
in compliance with the following:
a) All final plat documents submitted prior to or at the time
of final plat approval.
b) All laws of the United States, State of Colorado, and its
various agencies, affected special districts, and/or
municipalities providing utility services.
c) Such other designs, drawings, maps specifications, sketches
and other matter submitted to and approved by any of the
above stated governmental entities.
The County agrees that provided such improvements are installed in accordance
with this paragraph one, then Hawk Ridge shall be deemed to have satisfied all
terms and conditions of the zoning and subdivision laws, resolutions and
regulations of Garfield County, Colorado including, but not limited to,
Resolution No. 82-255 adopted by the County on October 4, 1982 and Resolution
No. adopted by the County on July 18, 1983.
2. Cost of Improvements. It is understood for purposes of this
agreement that the cost of all of said public improvements is $238,474.00 on
Exhibit "B" based upon the engineering cost estimates set forth on Exhibit
"B", which amount the County finds reasonable and hereby approves and accepts.
Hawk Ridge shall provide, on request of the County, written confirmation of
such estimates by Hawk Ridge 's engineering consultants and the public
utilities furnishing such improvements.
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BOOK 6 31 P4GE12
Immediately upon the filing of a final plat for all or part of
that property now known as Cedaridge Farm, Hawk Ridge shall be reimbursed
$2,756.00 as a recapture of part of Hawk Ridge's cost of improving County Road
103 which benefits Cedaridge Farm. The County shall not permit the filing of
or approve a final plat for all or part of Cedaridge Farm unless this
reimbursement becomes mandatory upon the filing of a final plat for all or
part of Cedaridge Farm.
3. Security for Improvements. On or before August 1, 1983 Hawk Ridge
shall deliver a letter of credit issued by a state or national banking
institution which is licensed to do business in the State of Colorado, in a
form acceptable to the County, which acceptance shall not be unreasonably
withheld. The amount of said letter of credit shall be equal to the "Total
Construction Costs" of $238,474.00, plus an inflation factor, as provided for
in Paragraph 4 below. In the event Hawk Ridge fails to deliver said letter of
credit by July 1, 1983, then the Plat may be vacated by the County and in such
event all approvals for the Subdivision by the County shall be deemed to have
been withdrawn and rendered null and void by such vacation and all parties
shall be released from any further obligation hereunder. Contemporaneously
with the execution of this Agreement, Hawk Ridge has delivered its written
consent to said vacation in the event an acceptable letter of credit is not
delivered within the time provided; and this consent is binding upon its
successors and assigns.
Upon Hawk Ridge delivering to the County said letter of credit,
Hawk Ridge shall be entitled to enter into sales agreements for the sale of
lots. However, no title to lots shall be conveyed nor building permits issued
until the County has accepted the completed improvements. Upon delivery to
the County of said letter of credit has been provided pursuant to this
Agreement and that sales agreements may be made. However, the County may, but
shall not be required to, issue the building permits for any buildings
constructed within Hawk Ridge until such time as all improvements have been
accepted by the County, which acceptance shall not be unreasonably withheld,
provided that in the event weather or other factors beyond the reasonable
control of Hawk Ridge delay the installation of surface paving, such delay
shall not prevent the issuance of building permits so long as the letter of
credit remains in full force and effect.
Upon receipt from Hawk Ridge of its certification that the public
improvements set forth on Exhibit "B" have been completed and paid for, the
County shall return to Hawk Ridge the letter of credit marked "satisfied in
full" and shall acknowledge that all improvements have been completed in a
satisfactory manner and shall otherwise release the aforesaid letter of
credit, in recordable from if requested by Hawk Ridge.
At its option, Hawk Ridge may certify to the County that a portion
of the public improvements set forth as Exhibit "B" have been completed, and
upon inspection and approval by the County of such certification (which
approval shall not be unreasonably withheld), Hawk Ridge may provide a new
letter of credit in an amount equal to the cost of the remaining improvements,
and the County shall release the letter of credit previously submitted.
The County may, at its option, permit Hawk Ridge to substitute
other collateral acceptable to the County for any collateral previously given
by Hawk Ridge to secure the completion of the improvements as hereinabove
provided.
4. Inflation Adjustment. As provided in paragraph 3 above, the amount
of collateral shall be adjusted on an annual basis for inflation based upon
the Consumer Price Index, Denver -All Urban Consumers Index, All Items, 1967
equals 100, published by the United States Department of Labor, Bureau of
Labor Statistics. Each year during the term of this agreement, commencing on
the first day of July of 1984 and each year thereafter, the base amount of the
collateral shall be adjusted by computing the increase, if any, in the cost of
living for the preceding year period and adding the same to the base amount of
the collateral. The base index number shall be the CPI number for March, 1983
of 329.6, and the corresponding CPI number for the months of each succeeding
4,
• • faoX 631 ms€1.3
year shall be the current index number. The increase, if any, between the
base index number and the current number (expressed as a percentage) shall be
multiplied by the base amount of the collateral and any resulting positive
product shall be added to the base amount of the collateral and the total
thereof shall be the adjusted amount of collateral. The parties hereby agree
that a new letter of credit will be issued which will equal the amount of the
adjusted amount of collateral.
If at any time during the term of any extension hereof said
Consumer Price Index is no longer published, the parties shall use such other
index as is generally recognized or accepted for the purpose of making similar
determinations of purchasing power.
5. Notice of Deficiencies. If the County determines that the
improvements within any phase are not constructed in compliance with the
specifications therefor, it shall furnish a written list of specific
deficiencies to Hawk Ridge. If the deficiencies have not been corrected, or
if satisfactory arrangements have not been made to correct such deficiencies,
within thirty (30) days after the list is furnished, the County may draw on
the letter of credit such funds as may be necessary to complete the
construction of the improvements in accordance with such specifications.
6. Improvement Sequence. Paving of the street improvements required
to be completed by Hawk Ridge shall not be done until all utility lines to be
placed in or under the streets have been completely installed.
7. Enforcement. In addition to any rights which may be provided by
Colorado statute, it is mutually agreed that the County or any purchaser of a
lot or unit within the subdivision shall have the authority to bring an action
in the District Court of Garfield County, Colorado, to compel the enforcement
of this Agreement. Such authority shall include the right to compel
rescission of any sale, conveyance, or transfer of any lot or unit contrary to
the provisions of this Agreement, or as set forth on the Plat of the
subdivision, or in any separate recorded instrument. Any such action shall be
commended prior to the issuance of a building permit by the County for such
lot or unit' and in the event no such action is so commenced, then the County
and any purchaser shall be deemed to have waived their rights and authority
herein provided.
8. Approval of Plat. The County agrees to approval of the Plat
subject to the terms and conditions of this of this Agreement.
9. Amendment . This Agreement may be amended from time to time,
provided that such amendment be in writing and signed by the parties hereto.
10. Binding Effect. This Agreement shall be a covenant running with
the title to each lot or unit within the subdivision and the rights and
obligations as contained herein shall be binding upon and inure to the benefit
of Hawk Ridge , its successors and assigns.
BOARD OF COUNTY COMM IONERS
GARFIELD COUNTY, C
irman
ATTEST:
43cputy Clerk to the Board
3fl( x G1. rM E124
HAWK RIDGE, A Colorado Limited
Partnership by H. P. Hansen
Inc., a Genera Partner,
/a!
l
H. P. ansen, as President of
H. P. Hansen, Inc.
Subscribed -and sworn to before me this 25th day of July, 1983.
'rFiib'lic. °Nbt�ry '�� m �c�<ou �uFlt� //%3
P.. 0. Bbx 640
Glenwood Springs, CO 81602
HAWK RIDGE SUBDIVISION
FINAL COST ESTIMATES
IIItem Quantity Unit Cost Estimate
WATER LINE
I
1. 2" Galv. 35 L.F. $ 7.90 $ 276.50
2. 2" PVC 2490 L.F. 1.60 3,984.00
3. 6" PVC 2445 L.F. 8.40 20,538.00
I
4. 8" PVC 2270 L.F. 10.30
1,340.0023,381.00
5. Fire Hydrant w/Valve 7 EACH 9,380.00
6. 1" Water Service 17 EACH 450.00 7,650.00
I
7. 6" Valve 3 EACH 330.00 990.00
8. 8" Valve 1 EACH 420.00 420.00
9. Storage Tank Piping &
Valves L.S.- 3,100.00 3,100.00
I
10. 4" PVC Tank Drain 150 L.F. 7.00 1,050.00
11. Chlorination & Control
Building L.S. 8,000.00
II12. Water Tank L.S. 18,000.00
II
ROAD & DRAINAGE
13. Earthwork L.S. 21,000.00
14. Sub -base 5920 TONS 4.40 26,048.00
II 15. Base Course 3250 TONS 6.48 21,060.00
16. 18" CMP 138 L.F. 19.14 2,641.00
17. 24" CMP 90 L.F. 24.83 2,235.60
II
18. 36" CMP 44 L.F. 39.84 1,752.96
19. Chip & Seal Interior 3009 L.F. 4.50 13,540.50
Roads
II 20. Chip & Seal County 2100 L.F. 4.50 rr
G,G93.7-
Road 103 * x 17/24
WS -6 -66
II
ELECTRICAL
21. Holy Cross Work L.S. 62,000.00
TELEPHONE
22. Mountain Bell Work L.S. 8,450.00
TOTALS: $262,191.31
' 21 M47• Sb
*Cedar Ridge Farm must share the cost of this improvement on a Cost/
Lot basis.
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