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2.0 BOCC Staff Report 11.01.2004
Exhibits for Public Hearing for Vesting of Lake Springs Ranch PUD held on November 1, 2004 Exhibit Letter (A to Z) Exhibit A Proof of Publication B Garfield County Zoning Regulations of 1978, as amended C Garfield County Subdivision Regulations of 1984, as amended D Staff Memorandum E Development Agreement F Final Plat A SIA -4- tt • • BOCC 11/01/04 FJ MEMORANDUM REQUEST Final Plat & Vested Property Rights for Lake Springs Ranch PUD APPLICANT Berkeley Family Limited Partnership REPRESENTATIVE Kerst, Schenk & deWinter, LLP, John Schenk LOCATION 4001 County Road 114 (Spring Valley) I. BACKGROUND As you are aware, the Board of County Commissioners (the Board) approved the Lake Springs Ranch PUD on June 18, 1979 which is memorialized in Resolution No. 79 - 64, which zoning allows 195 single-family lots, 3 multi -family residential cluster housing lots, and several large tracts of open space. Subsequently, the Board approved two amendments to the PUD which reduced the single- family lots to 194, increased the multi -family cluster housing units to 4, and reduced the percentage of lots to be contained in the first final plat from 25% to 10%. [Note, the PUD was approved with a 5 -phase phasing plan. The request before the Board is to plat phase 5 of the development.] On November 12, 2002, the Board approved the preliminary plan for Lake Springs Ranch PUD pursuant to the zoning established in the PUD, which is memorialized in Resolution 2002 - 109. Most recently, the Board granted a 1 -year extension to file the first final plat with the County to November 12, 2004. II. REQUEST The Applicant requests the Board 1) grant vested property rights to the Lake Springs Ranch PUD pursuant to Section 14:00 of the Subdivision Regulations and 2) approve the final plat for Filing 1 of the Lake Springs Ranch PUD (phase 5) pursuant to Section 5:00 of the Subdivision Regulations. III. STAFF COMMENTS FOR FINAL PLAT The Applicant submitted all the required documents necessary to complete a final plat application. Upon review, Staff finds the final plat documents presented to the Board satisfy Section 5:00 of the Subdivision Regulations and that the Applicant has satisfied the conditions of approval. Staff would like to direct the Board's attention to the following points: 1) Documents which require signature by the Chairman Should the Board approve the final plat request, the Board will need to authorize the Chairman to sign the following list of documents: A. Final Plat (in mylar form); B. Subdivision Improvements Agreement w/all attachments; C. Document Escrow Agreement; and D. Development Agreement. • • 2) Specific Securities (Letter of Credit) / Impact Fees The following list is an accounting of specific securities and impact fees which are required to be paid or submitted to the County prior to the recordation of the Final Plat: A. Fees in Lieu of Dedication of Land to RE -1 School District: $5,877.42 B. Fire Protection Fees to Carbondale & Rural Fire Protection District: $9,177.00 C. Road Impact Fees: $45,330.54 (1/2 at final plat = $22,665.27) D. Approximate Security / Letter of Credit: $2,727,236.05 (including realignment of CR 119, but will be increased to add revegetation) Please note, the Applicant requests (paragraph 11 in the SIA) the Board credit the impact fees paid in the SIA towards future filings within Lake Springs Ranch since these fees are required presently for the 21 lots in Filing 1 but may be "sterilized" by a conservation easement which means they would not be built and the impacts would not be generated. 3) Proposed Changes in Subdivision Improvements Agreement (SIA) The Applicant proposes a different method to the way the County typically requires "security" for completion of public improvements in the SIA. As typically required, once the Board has signed the final plat, the Clerk and Recorder will not actually record the plat until a security or collateral such as a letter of credit from a local bank has been tendered to the County in the amount listed in the cost estimate in the SIA. The security is a monetary "insurance policy" for the County so that if a developer does not complete the public improvements required in the SIA, then the County can use the collateral to complete the improvements. The Applicant has provided the Board with a traditional SIA including the usual partial and final release Letter of Credit language. As a matter of background, the Colorado Revised Statutes discuss "collateral" in the same manner that the Applicant proposes in the SIA which is more fully described below: Section 30-28-101 (11) defines SIA as "one or more security arrangements" that may include "any one or a combination of the types of security or collateral listed.... The types of collateral which may be used as security under the subdivision improvements agreements are as follows: Restriction on the conveyance, sale, or transfer of any lot, lots, tract, or tracts of land within the subdivision as set forth on the plat or as recorded by separate instrument; performance or property bonds; private or public escrow agreements; loan commitments; assignments of receivable; liens on property; letter of credit; deposits of certified funds; or other similar surety agreements." Applicant's Alternate Proposal to Collateral in the SIA The Applicant has provided the Board with a second version of an SIA showing a different type of security or collateral for completion of improvements. This second SIA is drafted to meet the situation in which the Applicant places the entire area in Filing 1 of Lake Springs Ranch PUD into a perpetual conservation easement to be held by a suitable grantee. The conservation easement is not a requirement of the development approvals which the County has granted the applicant; it will be a voluntary action on the part of the Applicant if such a suitable grantee will 2 • • accept an easement. If Filing No. 1 is placed into this easement, the Applicant will forgo its right and obligation to complete the proposed improvements listed in the SIA and, thus, its right to sell the 21 lots. The Applicant proposes that its present obligation (found in paragraph 3 in the SIA) not to transfer lots until all improvements are complete is sufficient security to the County for the purpose of the SIA and Final Plat approval. The conservation easement itself and the right of the County to vacate the plat if the conservation easement fails will replace the Applicant's current promise not to transfer the lots, if the conservation easement is granted and accepted. To this end, the Applicant proposes the following language in paragraph 3 of the SIA: A. Absolute Prohibition on Sale of Lots. No lots within Lake Springs Ranch PUD, Filing 1, may be separately advertised, contracted, reserved, leased, conveyed, sold, or otherwise transferred prior to completion and acceptance by the County of all the subdivision improvements; B. Absolute Prohibition on Additional Final Plats. Until all subdivision improvements as described herein for Lake Springs Ranch PUD, Filing 1 have been completed and accepted by the County, Owner shall be prohibited from submitting any further final plans for any other portion of Lake Springs Ranch PUD; C. Certification. Certification of completion of improvements adequate for release of the sale prohibition must be submitted by a licensed or registered engineer. Such certification authorizing release of security shall certify that the improvements have been constructed in accordance with the requirements of this agreement, including all plans submitted to obtain approval of the final plat; and D. A plat note shall reflect this absolute prohibition on individual lot sales as set forth in subsections (a) and (b) above. The Conservation Easement, if it happens, will be recorded and will further define the uses allowed within the area covered by Filing No. 1 and will include the restriction on development. The obligation on the Applicant and its successors to provide security at whatever the future cost is and make the improvements will continue as stated in the recorded SIA (paragraph 11). 4) Condition No. 15 of Resolution 2002 — 109 (preliminary plan) As you are aware, condition no. 15 of the preliminary plan required the Applicant to obtain a State Highway Access Permit from the Colorado Department of Transportation (CDOT) for the traffic that will impact the intersection of State Highway 82 and County Road 114. This condition is restated here: 15. The Applicant shall make an application to the Colorado Department of Transportation, pursuant to Section 12(b) of the State Highway Access Code, for a permit for the reconstruction of an existing access at the intersection of County Road 114 and State Highway 82. Such application and approved permit shall be tendered as part of the 3 • • approved phasing plan and shall be included with the applicable final plat documents, specifically the subdivision improvements agreement that includes security for the intersection improvements. Further, pursuant to Section 2.3(12)(b) of the State Highway Access Code, the Board has the authority to designate the representatives (developer) of Lake Springs Ranch PUD to serve as the "permittee" for the access permit rather than the Board. Based on this, the Applicant has applied for a permit for the traffic generated from just the 21 single-family lots which does not trigger any intersection improvements at CR 114 and HY82. To be clear, if the trips generated from the entire development (194 single-family dwelling units and 4 multi -family cluster housing units) were calculated cumulatively rather than per phase, they would trigger a requirement for intersection improvements because the trips generated would result in at least a 20% increase to the traffic at the intersection. [The 20% threshold is set by CDOT in the State Highway Access Code which requires certain improvements to an intersection of a county road and state maintained road if traffic generated by development approved in the County exceeds 20% of the traffic impact at the intersection.] At the writing of this memorandum, no permit has been issued by CDOT for the 21 lots in Filing 1 of the Lake Springs Ranch PUD. 5) Realignment of County Road 119 Consistent with the PUD Phasing Plan approved in Resolution No. 79 - 64 and amended this year, the Applicant included the cost of realigning CR 119 in the proposed engineer's cost estimate, along with the cost of development of Filing No. 1's internal roads. In paragraph 5 of the SIA, the Applicant has committed to conveying right-of-way to the County for this realignment, at the time of actual construction of the "new" CR 119. Assuming the conservation easement goes into effect and during the time frame in which the Applicant's promise not to reserve, contract to sell, sell, or otherwise transfer the 21 lots is in effect, there will be no need to realign CR 119 and vacate the old road easement. This will occur with the development of future phases of Lake Springs Ranch. IV. STAFF COMMENTS FOR VESTED PROPERTY RIGHTS The Applicant requests the Board grant vested property rights for the site specific development plan approved as the Lake Springs Ranch PUD. A vested property right means the Applicant maintains the right to undertake and complete the development and use of property under the terms and conditions of a site specific development plan for a three (3) year period without being affected by subsequent changes in County land use regulations. Important vesting requirements to note include the following: 1) Each plat or site plan constituting a site specific development plan shall contain the following language: "Approval of this plan shall create a vested property right pursuant to article 68 of title 24, C.R.S., as amended." This language has been included on the plat in the County Commissioner certificate. 4 • • 2) In addition, a notice describing generally the type and intensity of use approved, the specific parcel or parcels of property affected and stating that a vested property right has been created shall be published once, not more than 14 days after approval of the site specific development plan, in a newspaper of general circulation within the County. The Applicant shall satisfy this notice requirement. Failure to complete this requirement shall void any vesting approval by the Board. 3) The Applicant shall provide a Development Agreement (an agreement between the Developer and the County) that is to be signed by the Chairman of the Board that identifies the terms / timelines of the vesting agreement. This has been provided in a form consistent with prior agreements approved by the Board. 4) The Board has complete discretion whether or not to grant vested property rights to a development. The development regulations (Section 14:00) do not contain any specific criteria or standards for use in reviewing a request. It has typically been the position of the Board to grant vesting approval for a development. V. ACTION REQUESTED OF THE BOARD As a result of the foregoing, the Board is being asked to take action on the following points: 1) Approve or deny the request for vested property rights for the Lake Springs Ranch PUD which requires the Board to authorize the Chairman to sign the "Development Agreement"; 2) Approve or deny the final plat for the Lake Springs Ranch PUD which requires the Board to authorize the Chairman to sign the final plat (mylar); 3) Approve or deny the requested modifications to the Subdivision Improvements Agreement (SIA) regarding the terms of "security" and which requires the Board to authorize the Chairman to sign the SIA; 4) Approve or deny the request to place the deeds for the open space & utility easements into an escrow account whose terms are governed by the Document Escrow Agreement which requires the Board to authorize the Chairman to sign the Document Escrow Agreement; 5) Approve or deny the request to allow a future credit of the presently required impact fees paid to the County for Filing No. 1 to be applied towards future filings within Lake Springs Ranch; 6) Direct the County Clerk and Recorder to hold the final plat until such security, in a form acceptable to the Board, has been deposited with the County and at which time the Clerk may record the final plat and associated documents which include the SIA, Development Agreement, and Document Escrow Agreement; 5 r • VI. STAFF RECOMMENDATION Staff recommends the Board grant vested property rights to the development as requested. Regarding the issue of alternative security or collateral proposed by the Applicant in the SIA, the Board has complete discretion to accept alternative forms of security. The Colorado Revised Statutes (§30-28- 137(1)(a)) states that the security provided in the SIA must be "collateral which is sufficient, in the judgment of said Board, to make reasonable provision for the completion of said improvements in accordance with design and time specifications..." 6 • • • I; F 2 g; ,A g2 ¢m OA n Agq mm� §Kg RNp 2 2 8 4 8 2 0 p3g�mmE Will 424,4 WO pmyDCO agt 29K0A >Inp�Z$ l'!01 o2 2 3 C 0 ,0001 .I :TWOS rn D El Xi 0 20 hg gg or ' 5/ 706 ;Er OE?D A$m rg ,iFA qt§ $p lig 1^oF 'AE N gE �FNO X231 o8 `"_' 2.i m= z="F 202 2 rm Ago mA� AE§o 2- fr5 Eg mmg yT 2 "P., >F `-5 (0o 8 3N1 tl0J 318ISNO<IS3N 39 11 6T443Poeo osot .0 3�, 28C t?FeaJ . �emmlme�00 919]38 I; o 1V3S ONY ONYN AN SS3NIIM 2 22 8 og 2 8 o A 0 XA 21 tg FR SS K< g=8 na3 m m to 8 8 2 R 2 g2 Z g b2 A^9�o � $\tC0ljN.EJ yFrci2o $i y lei,1D gN:I g raa Tigcnm 12 ! y wry t7 �Uz Oho U) X001 �z� dz 0Hzvn O mrij mar O H0 y yxcn tir OZbpp OtiDr- 0co�o c y0 Z 7V 1_,j 1-3 SCO Ul 0-3 cn- 1-3 IT) 0w U tj—JI' O aN) z nm z�w t- z p8 2 1-11 H r -I 0 0 BERKELEY FAMILY LIMITED PARTNERSHIP 4001 1 14 ROAD GLENWOOD SPRINGS ,CO LAKE SPRINGS RANCH P.U.D. FINAL PLAT - FILING 1 GARFIELD COUNTY, COLORADO HIGH COUNTRY ENGINEERING, INC. °RAWR SMS 14 INVERNESS DRIVE EAST, STE F-120, ENGLEWOOD, CO 801 12 PHONE(303) 925-0544 FAX(303) 9250547 1517 BLAKE AVENUE, STE 101, GLENWOOD SPRINGS, CO 81601 PHONE(970) 9458676 FAX(970) 9452555 W W W.HCENG.COM RECKED J� 10/29/04 FILE FPLAT NO. DATE REVISION BY CALL UTILITY NOTIFICATION CENTER OF COLORADO 1-800-922-1987 OR 534..08700 IN METRO DENVER CALL 2 -BUSINESS DAYS IN ADVANCE BEFORE YOU DIG. GRADE. OR EXCAVATE FOR THE MARKING OF UNDERGROUND MEMBER UTILITIES • • Fr _,41(4£( , I n0 AG O N 00'16'33- E 1324.73' 1241.78` N 01 4336 E LJ 126.42' LJLJ 2084.02' 4•1`{ N05728137;E N O /- GOVT LOT 9 SEC. 33 98.8IS -3-.9-a120-§1- _ 00115_48'E GOVT LOT 8 818.79 SEC. 33 017715" E 820,90' £ u 0 5 iT \'\. N.090. 4' 480.67-E 4 5 01'58'16‘70/ 838.23' N M .ZZ,£LOO N 5 0127 O 0 w0 Wti 5 00'08'58' W 845.49' S 00'08'58" W — Wit LOT22 COVT 1 OT 15 SEC_33 846.38. 012715" 77'(5' W m ai '4Iu 0 I z \ .� n8 -1x AO Eg,1N< 4 O J ,,y 1 m my E AO 8 GO OX OmI N Inti A =6,,M 18 \\ _ m I8 '49 A0T1ooZ D Z \ N inn 2m• m z _ w I— I"..-73-2pi .,1r1,,91.003 .,1r1,,91.00 5 I - rr ti Z m < N< '4 I Ay Het jA ,(6'984 ' - DZ2tiD 3 .64,9L00 9 ro .LL'9S8 M .64,9 L00 N molir!' mm Z $ N 8 !NSNI',�y�c��m m NI w� (�O�O4 W ,I 814. �� / /. NZ'S LLL 3 .90,1£.69 S 1213.52' S 00'08'58' W 488.61' 5 017715' W J8 796.14 .0001. = ,l 31V3S gm �Z mm mm .3D1 0 D-4 ON 5. 0 mS W0 WN ,98'6481 ,60'5(84 3 .60,0S.Z0 S 3 .ZZ,(4£0 S .1001 S D 3 d S H z b N PROJECT NO. 2041025.00 0511 BERKELEY FAMILY LIMITED PARTNERSHIP 4001 1 14 ROAD GLENWOOD SPRINGS ,CO LAKE SPRINGS RANCH P.U.D. FINAL PLAT - FILING 1 GARFIELD COUNTY, COLORADO y',COVAfHIGH COUNTRY ENGINEERING,INC. �' (9CHECKED Z?, 'Ay A. q.. 14 INVERNESS DRIVE EAST, STE F-120, ENGLEWOOD, CO80112 — Ha _ PHONE (303) 925-0544 FAX (303) 9250547 � 1517 BLAKE AVENUE, STE 101, GLENWOOD SPRINGS, CO 81601 ti a A PHONE (970) 945-8676 FAX (970) 945.2555 ' 4 ER' WWW.HCENG.COM °flaw"� SMS NO. DATE REVISION By CALL UILTry NOTIFICATION CENTER OF COLORADO 1-800-922-1987^� OR 534-06700 IN METRO DENVER CALL 2 -BUSINESS DAYS IN ADVANCE BEFORE YOU DIG, GRADE, OR EXCAVATE FOR THE MARKING OF UNDERGROUND MEMBER UTILITIES °H eV: -ILA DATE: oi29/04 FILE: FPLAT • • • b LHS 33S 3NI7 H3,LVIAI ,0001 - ,l :31V7S i£ 1 ■ 1 ■ 31VOS 3IHdV?1O oe L 181.14 275.18 N 01'43'38' E \\ \\ DyO Oj�\ DOp� IN uo� "O) \\ \\ µµmf I . 6p \ \ \ 4V� \\\ \ 2 ✓ / 4 213.81 199.57 1290.42' DNo� 141 DNo� lu Ji°ml µµw20 I� --- L— j- 191.35 z co 199.65' N 02'34'26 E 781.85' 362.57' 224.73' 33 .57' = I I N i .21k µ1 m N I9 6 196.73' ot,r UI o= Ig m1 µµN –L2D� ___ 196.79' 193.99 94.06' 9127,. LAKE SPRINGS RANCH DRIVEo 420.19' rn 241.94 387.10' - iiiT 219.01 po0� > 50' 14 / yN-1e \3 I t6fr/ . / / •L/ 149.18' µ �o I6• t LJ >I�>Ar b. s 0627)2'w 545 J I 241.99' I Y 1' �Nj 1�] II �py I VFµ3 50 0 Zz aspE °I • .- ' kj –12 619 I/ F1µ C i 005 .LpO/ N 01'58'08' E 2064.02' nN VW N P. N '- m Y NI TUI (Al YW N -2n" T7 �r,D 11 CURVE TABLE NN(rnJ1il1NJJo (9 VIO 60o V -,9,0� V oA W �UIUIN.W. V V _ tJo V A (NAN ..,^U1 r 0, Z Cl UI -7 0 0 0 0 0 0 0 0 0 0 0 0 gri 0 0 0 0 - - 0 0 0 0 o 0 0 ,0 0 - o .V o 0 o 882?' N D o C P V rn NUI V V� Npp, A '4 A o> '4 4 J N ti N W m Vai V m V W,-4 W fJ e ell`42 N D N Z A J N A Arn lNll o J ,V -'AN W 104.-.� W o• A N a (Nli N N `0 b N IV A• Jo o p W, -T. IU• A A NNW A 8 N 9) NW W ,0 UI N 0 W rn o W 0) V.- o• o' o d A m r D V NUN D?N UI V DI A N • NT NR .. V IT aD OD 9.N-NANm - 0, y W.. Ul _ -Orn\ r o N 0�. OW' ' 10 2 A D . A � iJ T 6.‘'.2o 902 N ,p O, O' £m• N82'52'24'W NO2'38'26'E N V I4 UI ml'1 W N J.1 m 2 V O r1 I^ S42.42'09'E S79'31'03'E IN69'44'48'E N65.48'27'W N31'36'37'E S86'52'22'E rn 0: W N r U U E t CHORD DIRECT S42.42'09'E 5 02'44 55 GOV'T LOT 9 SEC. 33 0 0 TT) G. 0L4 fi GOV'T LOT 8 SEC. 33 8 • -44 1 ■ ■ I I • • • • ■ ■ 9— • •9� . . 9� ■ I. • • MATCH LINE – SEE • SHEET 5 C C J m10 mP ab uD Ie I(0 Is • ▪ • • 4E _ — _ 776.84_. _ S 01'58'10' W 838.23'------ 1-4 O O A to N • N O 0 BERKELEY FAMILY LIMITED PARTNERSHIP 4001 1 14 ROAD GLENWOOD SPRINGS .CO LAKE SPRINGS RANCH P.U.D. FINAL PLAT - FILING 1 GARFIELD COUNTY, COLORADO HIGH COUNTRY ENGINEERING, INC. "A 14 INVERNESS DRIVE EAST, STE F•120, ENGLEWOOD, CO 80112 PHONE (303) 9250544 FAX (303) 9250547 1517 BLAKE AVENUE, STE 101, GLEN W OOD SPRINGS, CO 81601 PHONE (970) 945.8676 FAX (970) 945.2555 W•W•W.HCENG.COM SMS ECKEDJLA DATE: 10/29/04 FILE: FPLAT NO. DATE REVISION BY CALL UTILITY NO -MCAT -ION CENTER OF COLORADO 1-800-922-1987 OR 534.067001N METRO DENVER CALL 2 -BUSINESS DAYS IN ADVANCE BEFORE YOU DIG. GRADE. OR EXCAVATE FOR THE MARKING OF UNDERGROUND MEMBER vllLNIES • • • TWOS 3IHdVHO N ti N 22 AI'c in ■ 1 E ,L2zHs RHS - HNI1 H3LVIII • ■ 8 ■ ■ ■ ■ ■ ■ ■ 1 ■ ■ 63. H.'LKI M ,ZZ.£1.00 N zcsu � � Isalz GOVT LOTS \ SEC. 4 gpti dm+ L� E 2 &,A4 $� >E GOVT LOT 22 SEC. 33 / ■ 1 A O NI MATCH LINE — SEE SHEET 5 GOVT LOT 15 SEC. 33 ... 5 ,LHRHS 2S - aNPI HaLVN O O Z 0 BERKELEY FAMILY LIMITED PARTNERSHIP 4001 114 ROAD GLENWOOD SPRINGS ,CO LAKE SPRINGS RANCH P.U.D. FINAL PLAT- FILING 1 GARFIELD COUNTY, COLORADO HIGH COUNTRY ENGINEERING, INC. 14 INVERNESS DRIVE EAST, STE F-120, ENGLEWOOD, CO 80112 PHONE (303) 9250544 FAX (303) 925.0547 1517 BLAKE AVENUE, STE 101, GLENWOOD SPRINGS, C081601 PHONE (970) 945-8676 FAX (970) 9452555 W W W.HCENG.COM CHECKED BY: JL ECKEDJLA [HOE. 10/29/04 FILE FPLAT NO. DATE REVISION BY CALL UTILITY NOTIFICATION CENTER OF COLORADO 1-800-922-1987 OR 534.06-100 IN METRO DENVER CALL 26USINESS DAYS IN ADVANCE BEFORE YOU DIG, GRADE. OR EXCAVATE FOR THE MARKING OF UNDERGROUND MEMBER trrunes • • ,0001 = L :31YOS m -< D o m MATCH LINE — SEE SHEET 4 ■■(■■■■r•. ii • • • TD V z. . —■.—.. 1 ■ ■ J 22HS SIH,, HaS — 3NPI HJ LVYd UTTT d88R L ✓ ■ 1 ■ • • ■ • I \ N 9aeyo- 50.9y.: e MATCH LINE — SEE SHEET 5 • •■ ♦ — ■ ■ — ■ 1.— • ■ /// .(2.).„./. 0 MATCH LINE — SEE SHEET 5 • — ■ ■ 1 _ _\ 5.m O N n 4- µ5- µ yP 0 A gm8 d C r 0 H . 3 .60,09.20 S I HS SIH,L iaS 3 KZZ.14£O S • 6 BERKELEY FAMILY LIMITED PARTNERSHIP 4001 1 14 ROAD GLENWOOD SPRINGS ,CO LAKE SPRINGS RANCH P.U.D. FINAL PLAT- FILING 1 GARFIELD COUNTY, COLORADO HIGH COUNTRY ENGINEERING, INC. °RA—"snns 14 INVERNESS DRIVE EAST, STE F-120, ENGLEWOOD, CO 80112 PHONE (303) 925-0544 FAX (303) 9250547 1517 BLAKE AVENUE, STE 101, GLENWOOD SPRINGS, C081601 PHONE (970) 9458676 FAX (970) 9452555 YVW W.HCENG .COM CHECKED BY: JLA DAjE10/29/04 FID:: FPLAT NO. DATE REVISION BY CALL UTILITY NOTIFICATION CENTER OF COLORADO 1-800922.1987 OR 534- 067 00 IN METRO DENVER CALL 2 -BUSINESS DAYS IN ADVANCE BEFORE YOU DIG. GRADE. OR EXCAVATE FOR THE MARKING OF UNDERGROUND MEMBER UTILNIES • • DEVELOPMENT AGREEMENT WHEREAS, BERKELEY FAMILY LIMITED PARTNERSHIP (the "Developer") has tendered the Final Plat for Lake Springs Ranch, Filing 1, to the BOARD OF COUNTY COMMISSIONERS OF GARFIELD COUNTY, COLORADO (the "County"), requesting approval of said Final Plat, and further requesting that it be granted vested property rights in connection therewith; and WHEREAS, the County has approved the said Final Plat of Lake Springs Ranch, Filing 1 upon the terms and conditions set forth in the Subdivision Improvements Agreement for Lake Springs Ranch, Filing 1 of even date herewith. NOW, THEREFORE, be it agreed by and between Developer, and the County, as follows: 1. The Final Plat for Lake Springs Ranch, Filing 1 submitted by Developer and approved by the County on November 1, 2004, upon the terms and conditions of the Subdivision Improvements Agreement for Lake Springs Ranch, Filing 1, shall and the same hereby is deemed to be a site specific development plan as provided in Section 14.20.01.01 of the Garfield County Subdivision Regulations, entitling the Developer to certain vested property rights as provided in C.R.S. 24-68101, et seq., as amended. 2. The County held a properly noticed public hearing on the Developer's request for vested property rights in connection with said site specific development plan on November 1, 2004. 3. Developer shall have a vested property right to undertake and complete the development and use of Lake Springs Ranch, , Filing 1, as provided in said site specific development plan fora period of three (3) years from the date hereof, conditioned upon publication of the notice required by Section 14.40 of the Garfield County Subdivision Regulations. 4. It is understood and acknowledged by Developer that one condition of approval of this final plat stated that: The applicant shall make application to the Colorado Department of Transportation, pursuant to Section 12 (b) of the State Highway Access Code, for a permit for the reconstruction of an existing access at the intersection of County Road 114 and State Highway 82. Such application and approved permit shall be tendered as a part of the approved phasing plan and shall be included with the applicable final plat documents, specifically the subdivision improvements agreement that includes security for the intersection improvements. It is understood that the 21 lots contained within the final plat of Lake Springs Ranch, Filing 1, do not trigger any requirement for reconstruction of the aforesaid access. Nevertheless, it is agreed that the traffic impact of all developed lots in the Lake Springs Ranch PUD, including those in Filing 1, will be cumulated during the course of development of the PUD for the purposes of compliance with the State Highway Access Code. DONE AND AGREED TO this day of November 2004. BOARD OF COUNTY COMMISSIONERS OF GARFIELD COUNTY, COLORADO By: Page 1 of 2 • • ATTEST: Mildred Alsdorf, Clerk to the Board STATE OF COLORADO ) ss. COUNTY OF GARFIELD ) John Martin, Chairman BERKELEY FAMILY PARTNERSHIP By: Its: LIMITED The foregoing instrument was acknowledged before me this 2004, by as Family LP. WITNESS my hand and official seal. My commission expires: day of of Berkeley Notary Public Page 2 of 2 LAKE SPRINGS RANCH, FILING 1 LAKE SPRINGS RANCH PUD - PHASE 5 SUBDIVISION IMPROVEMENTS AGREEMENT THIS SUBDIVISION Improvements AGREEMENT ("Agreement") for Lake Springs Ranch, Filing 1, is made and entered into this 1st day of November2004, by and be ween THE BERKELEY FAMILY LIMITED PARTNERSHIP ("Owner") and the BOARD OF COUNTY COMMISSIONERS OF GARFIELD COUNTY, COLORADO (referred to in this Agreement as the 'Board" or "County"). WITNESSETH: WHEREAS, Owner is the developer of a parcel of real property known as Lake Springs Ranch, Filing 1, which property is depicted on the Final Plat of Lake Springs Ranch, Filing 1 ("Final Plat"), which Final Plat also includes 94.341 acres of land to be included in Agricultural Reserve; and WHEREAS, on June 18, 1979, the Board approved a PUD Zoning for Lake Springs Ranch PUD (Resolution No. 79-64), which zoning would allow 195 single-family residential lots, 3 multi- family residential cluster housing units and Agricultural Reserve/common area parcels; and WHEREAS, on December 10, 1979, the Board approved a modification to the PUD Zoning for Lake Springs Ranch PUD (Resolution No. 79-64) to change the uses to include 194 single- family residential lots, 4 multi -family residential cluster housing units and Agricultural Reserve/common area parcels; and WHEREAS, on November 12, 2002, the Board approved a Preliminary Plan for Lake Springs Ranch PUD (Resolution No. 2002-109) which, among other things, would create 194 single-family residential lots, 4 multi -family residential cluster housing units and Agricultural Reserve/common area parcels; and WHEREAS, in August 2003, the Board approved an extension of the time to file the first Final Plat to November 12, 2004; and WHEREAS, on September 7, 2004, the Board approved a modification to the PUD Zoning for Lake Springs Ranch PUD (Resolution No. 79-64) allowing the first Final Plat required by the PUD plan to contain not less than 10% of the 194 single-family residential lots (Resolution No. _); and \Hal\t\M B\Lake Springs\Final Plat\SIA\LSR PUD SIA Lot Sale Prohibition - v3.wpd AFTER RECORDING, RETURN TO: Board of County Commissioners % Mark Bean, Planning Director 108 Eighth Street, Room 201 Glenwood Springs, CO 81601 WHEREAS, as a condition of approval of the Final Plat for Lake Springs Ranch, Filing 1, submitted to the County for its approval as required by the laws of the State of Colorado, Owner wishes to enter into this Subdivision Improvements Agreement with the County; and WHEREAS, Owner has agreed to an absolute prohibition on the advertisement, reservation, sale, lease, conveyance, or other transfer of any individual lot within Lake Springs Ranch, Filing 1, prior to completion and acceptance by the County of all subdivision Improvements as described herein and has otherwise agreed to certain restrictions and conditions regarding the issuance of building permits, certificates of occupancy and sale of properties, all as more fully set forth below in this Agreement. NOW, THEREFORE, in consideration of the mutual covenants and promises contained herein, the parties agree as follows: 1. FINAL PLAT APPROVAL. The County hereby accepts and approves the Final Plat for Lake Springs Ranch, Filing 1, subject to the terms and conditions of this Agreement, the Preliminary Plan Approval (Resolution 2002-109), the Lake Springs Ranch PUD approval (Resolution 79-64 as amended by Resolution 79-153 and Resolution 2004-___) hereinafter referred to collectively as Lake Springs Ranch PUD, and the requirements of the Garfield County Zoning and Subdivision Regulations. 2. OWNER'S PERFORMANCE. Owner has constructed and installed, or shall cause to be constructed and installed, at its own expense, those subdivision Improvements ("Improvements") related to the Final Plat for Lake Springs Ranch, Filing 1, which are required to be constructed under the Preliminary Plan Approval, this Agreement, the Final Plat for Lake Springs Ranch, Filing 1, all Garfield County Zoning and Subdivision Regulations, and the Zone District Text for Lake Springs Ranch PUD. Owner shall comply with the following: a. All Plat documents submitted prior to or at the time of Final Plat approval, as well as all terms and conditions set forth on the Final Plat for Lake Springs Ranch, Filing 1, all of which are incorporated herein by this reference. b. All requirements of the Preliminary Plat Approval, including all Zone District Regulations approved by Garfield County for the Lake Springs Ranch PUD and all Garfield County Zoning and Subdivision Regulations applicable to this project. c. All laws, regulations, orders and resolutions of the State of Colorado, the County of Garfield, and any and all special districts within which the Lake Springs Ranch PUD may be located. \\Hal\1\M B\Lake Springs\Final Plat\SIA\LSR PUD SIA Lot Sale Prohibition - v3.wpd Page 2 of 9 d. All designs, specifications, drawings, maps, sketches, and other materials submitted by Owner and its engineers in furtherance of the application for the approval of Lake Springs Ranch, Filing 1, as heretofore approved by the County, including all Improvements shown on the Lake Springs Ranch, Filing 1, Construction Plans prepared by High Country Engineering, Inc. dated October 15, 2004, and as submitted to Garfield County (hereinafter"Development Plans"). Said Improvements include roads, water distribution lines, sewer collection lines, drainage structures, electric, telephone, cable television and gas lines as shown on Exhibit A, Engineer's Estimate attached. e. Payment of all fees required by the County and/or such other government authority or special district with jurisdiction, as may be required for installation of the Improvements. All such Improvements shall be completed on or before November 1, 2005. The County agrees that if all required Improvements are installed in accordance with this Agreement, the Final Plat documents, the as -built drawings to be submitted upon completion of the Improvements and the requirements of the Garfield County Zoning Resolution and the Lake Springs Ranch PUD, all other requirements of this Agreement, and the requirements of the Preliminary Plan Approval, then the Owner shall be deemed to have satisfied all terms and conditions of the Zoning Regulations for the Lake Springs Ranch PUD and Zoning and Subdivision Regulations of Garfield County, Colorado, with respect to the installation of Improvements. 3. SECURITY FOR IMPROVEMENTS a. Absolute Prohibition on Sale of Lots. No lots within Lake Springs Ranch, Filing 1, may be separately advertised, contracted, reserved, leased, conveyed, sold or otherwise transferred prior to completion and acceptance by the County of all subdivision Improvements as described herein. b. Absolute Prohibition on Additional Final Plats. Until all subdivision Improvements as described herein for Lake Springs Ranch, Filing 1, have been completed and accepted by the County, Owner shall be prohibited from submitting any further final plans for any other portion of Lake Springs Ranch PUD. c. Certification of Completion. Certification of completion of Improvements adequate for release of the sale prohibition must be submitted by a licensed or registered engineer. Such certification authorizing release of security shall certify that the Maki \M B\Lake Springs\Final Plat\SIA\LSR PUD SIA Lot Sale Prohibition - v3.wpd Page 3 of 9 Improvements have been constructed in accordance with the requirements of this Agreement, including all plans submitted to obtain approval of the Final Plat. Upon submission of a certification of completion of Improvements by the Owner and copies of recorded instruments evidencing the conveyance of all property and interests required to be conveyed to the Lake Springs Ranch Owners Association the County may inspect and review the Improvements certified as complete, to determine whether or not said Improvements have been constructed in compliance with the relevant specifications. If the County determines that all or a portion of the Improvements certified as complete are not in compliance with the relevant specifications, the County shall furnish a letter of potential deficiencies to the Owner within fifteen (15) days specifying which Improvements are potentially deficient. If no letter of potential deficiency is furnished within the said fifteen (15) day period, all Improvements certified as complete shall be deemed accepted and the County shall release the appropriate amount of security as it relates to the Improvements that were certified as complete. If a letter of potential deficiencies is issued which identifies a portion of the certified improvement as potentially deficient, then all Improvements not so identified in the letter of potential deficiencies shall be deemed accepted and the County shall release the appropriate amount of security as such relates to the certified Improvements that are not identified as potentially deficient in the letter. ii. When all Improvements are certified as complete by the Owner that are identified as potentially deficient in a letter of potential deficiencies as provided in this paragraph, the County shall have thirty (30) days from the date of the letter of potential deficiencies to complete its investigation and provide written confirmation of deficiency to Owner. If the County finds that the Improvements are acceptable, then a release of the sale prohibition shall be given to the Owner within ten (10) days after completion of such investigation. In the event the Improvements are not accepted by the County, the Board shall make a written finding prior to such determination requesting the Owner cure any deficiency and if not so cured to vacate the Final Plat. Additionally, the County shall provide the Owner a reasonable period of time to cure any deficiency prior to acting to vacate the Final Plat. Upon completion of all Improvements, Owner shall submit to the Board as - built drawings bearing the stamp of Owner's professional engineer certifying that all Improvements have been constructed in accordance with the requirements of this Agreement, including all Final Plat plans. \\Hal\1\M B\Lake Springs\Final Plat \SIA\LSR PUD SIA Lot Sale Prohibition - v3.wpd Page 4 of 9 d. A plat note shall reflect this absolute prohibition on individual lot sales as set forth in subsections (a) and (b) above. 4. WATER SUPPLY AND WASTEWATER COLLECTION. Prior to issuance of any certificates of occupancy by the County for any homes to be located upon Lake Springs Ranch, Filing 1, Owner shall install a water distribution system for potable water and fire protection. The Owner shall also install a wastewater collection system in accordance with plans and specifications approved by the Spring Valley Sanitation District. All easements and rights of way necessary for installation, operation, service and maintenance of such water supply and distribution system and wastewater collection system shall be established as shown on the Final Plat for Lake Springs Ranch, Filing 1. Said water supply and distribution system and wastewater collection system shall be conveyed in its entirety to Lake Springs Ranch Owners Association, a Colorado nonprofit corporation, on or before termination of the Declarant Control Period as defined in the Declaration of Covenants, Conditions and Restrictions for Lake Springs Ranch, Filing 1. 5. ROADS. a. All roads within Lake Springs Ranch, Filing 1, shall be dedicated to the public as public rights-of-way. The Lake Springs Ranch Owners Association shall be solely responsible for the maintenance, repair and upkeep of said roads. The County shall not be obligated to maintain any roads within the subdivision. b. All off-site roadwork on County Road 119 as depicted and described in the Development Plans will be completed by the Owner. Upon completion, the revised roadway will be dedicated to Garfield County and the old roadway vacated. 6. INDEMNITY. To the extent allowed by law, the Owner agrees to indemnify and hold the County harmless and defend the County from all claims which may arise as a result of the Owner's installation of the Improvements required pursuant to this Agreement. However, the Owner does not indemnify the County for claims made asserting that the standards imposed by the County are improper or the cause of the injury asserted. The County shall be required to notify the Owner of receipt of a notice of claim, or a notice of intent to sue, and shall afford the Owner the option of defending any such claim or action. Failure to notify and provide such written option to the Owner shall extinguish the County's rights under this paragraph. Nothing herein shall be interpreted to require the Owner to indemnify the County from claims which may arise from the negligent acts or omissions of the County or its employees. 7. TRAFFIC IMPACT FEES. Pursuant to Section 4:94 of the Garfield County Subdivision Regulations, and Resolution No. 97-04 and Resolution 98-28, Lake Springs Ranch, Filing \\Hal\1\M B\ Lake Springs\Final Plat\SIA\LSR PUD SIA Lot Sale Prohibition - v3.wpd Page 5 of 9 1, would require a Traffic Impact Fee of $45,330.54. However the cost of construction of the off-site roadwork on County Road 119 as depicted and described in the Development Plans and budgeted for as shown on Exhibit A, Engineer's Estimate attached, will be credited against said Traffic Impact Fee and thus no fee for the same will be due from Owner at this time. 8. CONVEYANCE OF AGRICULTURAL RESERVE. Upon the mutual execution of this Agreement, Owner shall execute and deliver into escrow deeds of conveyance for the Agricultural Reserve parcel and Utility Easements reflected on the Final Plat (collectively, the "Deeds") to Lake Springs Ranch Owners Association, a Colorado nonprofit corporation. The Deeds shall be deposited into escrow, pursuant to an Escrow Agreement to be executed by Owner, the Board and the Escrow Agent, providing that the Escrow Agent shall hold the Deeds until the earlier of (I) receipt of a written notice signed only by Owner notifying Escrow Agent that the work required of the Owner under this Agreement has been completed and accepted by the Board; or (ii) receipt of a written notice signed only by the Board stating that Owner has failed to comply with the terms and conditions of this Agreement; or (iii) November 1, 2005. Upon the first to occur of the foregoing events, Escrow Agent shall cause the Deeds to be recorded in the records of the Garfield County Clerk and Recorder. 9. SALE OF LOTS. No lots within Lake Springs Ranch, Filing 1, may be separately advertised, contracted, reserved, leased, conveyed, sold or otherwise transferred prior to recording of a Final Plat for Lake Springs Ranch, Filing 1, in the records for the Garfield County Clerk & Recorder and prior to completion and acceptance by the County of all subdivision Improvements as described herein. 10. ISSUANCE OF BUILDING PERMITS. As one remedy for breach of this Agreement, the County may withhold issuance of any building permits or certificates of occupancy for any structure to be built upon Lots 1 through 21, Lake Springs Ranch, Filing 1. The parties agree that no building permit shall be issued unless the Owner demonstrates to the satisfaction of the Carbondale & Rural Fire Protection District ("District") that there is adequate water available to the construction site for the District's purposes and all applicable District fees have been paid to the District. The parties also agree that no certificates of occupancy for residences upon any lot within Lake Springs Ranch, Filing 1, shall be issued until all Improvements (as defined above) have been completed as required by this Agreement. Finally, the Owner agrees that, prior to conveyance of any lot, it will provide the purchaser of that lot with a signed copy of the form attached as Exhibit B concerning the issuance of building permits and certificates of occupancy. 11. CONSERVATION EASEMENTS. Even though not required by any condition of approval of this land use application, the PUD or the preliminary or Final Plat, if a conservation \11-1a1\1 \M B\ Lake Springs \Final Plat \SIA\LSR PUD SIA Lot Sale Prohibition - v3.wpd Page 6 of 9 easement is granted and conveyed by Owner and accepted by a qualified holder thereof on any portion of the area included in the Final Plat, all physical subdivision Improvements required for such portion will be suspended and any security to guarantee completion of such Improvements shall be released, except for the prohibition on sale of lots as described herein, for so long as the conservation easement remains in place. Upon the grant of such an conservation easement, the Board agrees to acknowledge the grant of such conservation easement and by further instrument acknowledge the suspension of physical subdivision improvements and release of such security. However, if for any reason any such conservation easement were ever released or terminated for any reason, the obligations for all subdivision Improvements and the security for such Improvements will be reinstated subject to such revisions as may be required by the Board, including without limitation cost estimates and security at then -current values, and, failing such reinstatement and further compliance, the County may vacate the Final Plat of Lake Springs Ranch, Filing 1, in accordance with paragraph 13 below. 12. ENFORCEMENT. In addition to any rights which may be proved by Colorado statute, it is mutually agreed that the County or any purchaser of any lot shall have the authority to bring an action in the Garfield County District Court to compel enforcement of this Agreement. 13. CONSENT TO VACATE PLAT. In the event the Owner fails to comply with the terms of this Agreement, including the terms of the Preliminary Plan, the County shall have the ability to vacate the Final Plat for Lake Springs Ranch, Filing 1, as it pertains to any lots for which building permits have not been issued. As to any such lots for which building permits have been issued, the plat shall not be vacated and shall remain valid. In such event, the Owner shall provide a survey and complete legal description with a map showing the location of any portion of the plat so vacated. 14. RECORDING OF AGREEMENT. This Agreement shall be recorded and shall be a covenant running with title to all lots within Lake Springs Ranch, Filing 1, and shall constitute notice to prospective purchasers or other interested parties as to the terms and provisions hereof. 15. BINDING EFFECT. This Agreement shall be a covenant running with the title to the land within the Final Plat for Lake Springs Ranch, Filing 1, and the rights and obligations as contained herein shall be binding upon and inure to the benefit of Owner, its successors and assigns. \\Hal\1\M B\Lake Springs\Final Plat\SIA\LSR PUD SIA Lot Sale Prohibition - v3.wpd Page 7 of 9 16. NOTICES. All notices required or permitted by this Agreement shall be in writing and shall be deemed effective when received by the recipient party via personal delivery, facsimile transmission, United States certified mail, postage prepaid, return receipt requested, by messenger or by overnight delivery service, in all cases addressed to the person for who it is intended at their address and facsimile numbers(s) set forth below or to such other address as a party shall have designated by notice in writing to the other party in the manner provided by this paragraph: If to the Owner: If to the County: The Berkeley Family Limited Partnership Miriam M. Berkeley 4001 County Road 114 Glenwood Springs, Colorado, 81601 Board of County Commissioners Mark Bean, Garfield County Planning Director 108 Eighth Street, Room 201 Glenwood Springs, CO 81601 17. AMENDMENT. This agreement may be amended or modified from time to time, but only in writing signed by the parties hereto. 18. VENUE AND JURISDICTION. Venue and jurisdiction for any cause arising out of, or related to, this Agreement shall lie with the District Court for Garfield County, Colorado, and this Agreement shall be construed according to the laws of the State of Colorado. IN WITNESS WHEREOF, the parties have signed this Agreement to be effective upon the date first set forth above. THE BERKELEY FAMILY LIMITED PARTNERSHIP By: Miriam M. Berkeley, General Partner \\Hal\1\M B\Lake Springs\Final Plat\SIA\LSR PUD SIA Lot Sale Prohibition - v3.wpd Page 8 of 9 BOARD OF COUNTY COMMISSIONERS FOR THE COUNTY OF GARFIELD, STATE OF COLORADO By: ATTEST: Mildred Alsdorf, Clerk & Recorder Garfield County, Colorado STATE OF COLORADO ) ss. COUNTY OF GARFIELD John Martin, Chairman Subscribed and sworn to before me by Miriam M. Berkeley as General Partner of The Berkeley Family Limited Partnership this 1st day of November 2004. WITNESS my hand and official seal. My commission expires: Notary Public \\ Hal \1\M B\Lake Springs\Final Plat\SIA\LSR PUD SIA Lot Sale Prohibition - v3.wpd Page 9 of 9 EXHIBIT "A" October 28, 2004 HCE JOB NO: 2041025.00 ! l:\gprodata\file\204\1025\COST ESTIMATE I 0-28-04.xls COST 557,530.00 5243,420.50 ITEM nffs• ;?t MJI,i P<,/ y g f!Y`i,amu% QUANTITY 23012 C.Y. 1 21167; S.Y. 1 UNIT COST; $2.50 $11.50 Earthwork (CUT) 4" Asphalt 6" Class 6 ABC (Roadway, Shoulders, and Tank road) 9935 C.Y. 530.00 5298,050.00 t. 4" C900 Waterline 1335! L.F. Subtotal! 532.00 $599.000.50 542,720.00 4" Valve 3! Each 9975 L.F. 5850.00 • 538.00 $2,550.00 5379,050.00 8" C900 Waterline 8" Temp Blow Oft Valve 3! Each rt $500.00! 51,500.00 8" Air Realese Valve 2! Each 53,250.00! 56,500.00 8" Valve 22 Each 51,000.00 .___i- 522,000.00 8" PRV Valve & Vault 11 Each 511,500.00 511,500.00 10" C900 Waterline 2687! L.F. $43.00 5115,541.00 10" Valve 4! Each 51,350.00! 55,400.00 10" Air Realese Valve 11 Each 53,250.00 53,250.00 12" C900 Waterline 5481 L.F. 1 Each 548.00 51,850.00! 526,304.00 51,850.00 12" Valve 3/4" Water Service 21! Each 5900.001 518,900.00 Fire Hydrant Assembly 25' Each 53,800.00 595,000.00 Water tank and Pump System (All items for system included) 11 Each 5350,000.00 5350,000.00 4' Dia. Manhole 15 Each Subto'11 52,200.00 $1.082.065.00 533,000.00 8" SDR 35 Sewerline 3520! L.F. 535.00 5123,200.00 4" Sewer Service 211 Each 5250.00 517,850.00 4" HDPE Forcemain 17091 L.F. Each $25.00_ S5C0.00 542,725.00 51,500.00 4" HDPE Forcemain Cleanout 3i 4" HDPE Forcemain Lift Station(Complete in Place) 1 Each $50,000.00 550.000.00 7272! S •bt Nta! L.F. 536.00! 5268.275.00 $261,792.00 Gas, Electric, Telephone, Cable TV +Af 54" ADS -N12 St•biotal 50 ! L.F. 1 575.00! $261,792.00 53,750.00 54.500.00 51.680.00 51,200.00 54" FES 2 Each L.F. Each $2,250.001 $42.00! 30" ADS -N12 30" FES 40—t 2 t $600.00; 24" ADS -N12 120 t L.F. I Each t L.F. t Each -- 536.001 $525.001 1 530.00! 54,320.00 52,100.00 511,100.00 24" FES 4 18" ADS -N12 370 18" FES 14 T 5455.00! 56,370.00 k- d rah $ , Subtotal! 8,945 ':.L.F. i $2.50: $35.020.00 522.=62_.50 Silt Fence Straw Bales 256 Each 55.00 -- ' 51.280.00_ Revegetation of Disturbed Areas (Seeding & Mulching) 10.3 Acres 52,000.00 520,600.00 Subtotal! 3 i Each i 5200.00! 544,242.50 $600.0_0 Class 1 Ground Sign Street 1.D. Sign 4! Each 5200.00 5800.00 This opinion of probable construction cost This estimate is based on unapproved construct'++•'+" change. This estimate does not include construction administration, utility soft held responsible for variances from this market fluctuations. All utiliti rices including all fittings. �.'— was prepay . • mating purposes ., ti. • ities are d ♦ r� �'• en' .* c t ,, • struction r �. coa . !b: °Coe Qm t�• ' .�annot i e m:, Caryl ' ..� if^ te. d in I io 44 ....-1:•, t ! only. subject to testing, be to bid and .n, Subtotal SI 400 00 ,..-.-...- —• ..___....__.. :Subtotal i $2,291.795.00 Contingency 10% g Y ( ) $229.179.50 ,_ •+ Testing/Engineering (2.0%) (3.5%)1__....__—_.__..._.. Construction Mgmt (3.5°/.) TOTAL - Other $45.835.90 $80.212.83 _ _ $80,212.83 $2,727.236.05 EXHIBIT "A" • EXHIBIT "B" SUBDIVISION IMPROVEMENTS AGREEMENT LAKE SPRINGS RANCH, FILING 1 LAKE SPRINGS RANCH PUD NOTICE REGARDING BUILDING PERMITS TO: ALL PURCHASERS OF HOME SITES WITHIN LAKE SPRINGS RANCH, Filing 1 LAKE SPRINGS RANCH PUD SUBDIVISION YOU ARE HEREBY NOTIFIED under applicable Garfield County Regulations, you may not commence construction of a residence within unincorporated Garfield County, Including Lake Springs Ranch, Filing 1, Subdivision, prior to issuance of a building permit by Garfield County. Under the terms of the Subdivision Improvements Agreement between Garfield County and Berkeley Family Limited Partnership, Garfield County will not issue building permits for property in Lake Springs Ranch, Filing 1, until: 1. The Owner/Developer has demonstrated to the satisfaction of the Carbondale & Rural Fire Protection District that adequate water is available to the construction site for the Fire District's purpose. 2. A site-specific geo-technical study, completed by a registered Geo -Technical Engineer, has been presented to the Building and Planning Department for review, along with a registered design professional's certification that the structure design is based on the site-specific study. Additionally, Garfield County will not issue Certificates of Occupancy for any structures within Lake Springs Ranch, Filing 1, until all of the subdivision improvements have been completed and are operational in accordance with the Subdivision Improvements Agreement between Garfield County and Berkeley Family Limited Partnership. OWNER/SUBDIVIDER: Berkeley Family Limited Partnership By: The foregoing Notice was read and understood by the undersigned Purchaser of a home site within Lake Springs Ranch, Filing 1, this day of 200_ PURCHASER: (Signature) (Type Name) (Type Address ) \\Hal\1\M B\Lakc Springs\Final Plat\S[A\Notice to Purchasers.wpd • • DOCUMENT ESCROW AGREEMENT THIS ESCROW AGREEMENT (as the same maybe amended or modified from time to time and including any and all written instructions given to "Escrow Agent" (hereinafter defined) pursuant hereto, this "Escrow Agreement") is made and entered into as of November 1, 2004, by and among Berkeley Family Limited Partnership ("Owner"), The Board of County Commissioners of Garfield County, State of Colorado ("County"), and Land Title Guarantee Company ("Escrow Agent"). RECITALS A. As of the date hereof County has granted final plat approval for the Final Plat of Lake Springs Ranch P.U.D. ("Final Plat") and in connection therewith Owner and County have entered into a Subdivision Improvements Agreement for Lake Springs Ranch P.U.D. (the "SIA"), a copy of which is attached hereto as Exhibit A. B. In accordance with paragraph 8 of the SIA, Owner has agreed to execute and deposit into escrow a Quit Claim Deed (Open Space) conveying Open Space within the Final Plat to Lake Springs Homeowners Association ("Association"), and a Quit Claim Deed (Easements) conveying the utility easements depicted on the Final Plat to the Association (collectively, the "Deeds"). C. Owner and County have requested Escrow Agent to act as the Escrow Agent under this Escrow Agreement, and Escrow Agent, subject to the terms and conditions hereof, has agreed so to do. NOW, THEREFORE, in consideration of the premises and mutual covenants and agreements contained herein, the parties hereto hereby agree as follows: 1. Appointment of Escrow Agent. Each of Owner and County hereby appoints Escrow. Agent as the escrow agent under this Escrow Agreement and Escrow Agent hereby accepts such appointment. 2. Deposit of Deeds. Upon execution of this Escrow Agreement, Owner will deliver to the Escrow Agent the Deeds to be held by Escrow Agent in accordance with the terms hereof. 3. Recording of Deeds. Escrow Agent shall hold the Deeds in escrow until the earlier to occur of: (i) receipt of a written notice signed only by Owner notifying Escrow Agent that the work required of the Owner in the SIA has been completed and accepted by the Board of County Commissioners of Garfield County; or (ii) receipt of a written notice signed only by the Board of County Commissioners of Garfield County stating that Owner has failed to comply with the terms and conditions of the SIA; or (iii) November 1, 2005. Upon the first to occur of the foregoing events, Escrow Agent shall cause the Deeds to be recorded in the records of the Garfield County Clerk and Recorder. \\Hal\I\M B\Lake Springs\Final Plat\Document Escrow Agreement.wpd Page 1 of 4 • • 4. Scope of Undertaking. Escrow Agent's duties and responsibilities in connection with this Escrow Agreement shall be purely ministerial and shall be limited to those expressly set forth in this Escrow Agreement. Escrow Agent is not a principal, participant or beneficiary in any transaction underlying this Escrow Agreement and shall have no duty to inquire beyond the terms and provisions hereof. Escrow Agent shall have no responsibility or obligation of any kind in connection with this Escrow Agreement or the Deeds and shall not be required to deliver the Deeds or take any action with respect to any matters that might arise in connection therewith, other than to receive, hold, and deliver the Deeds as herein provided. 5. Amendment. These instructions may be altered, amended, modified or revoked in writing only, signed by all of the undersigned parties hereto and approved by the Escrow Agent, upon payment of all fees, costs and expenses incident hereto. 6. Transfer of Interest. No assignment, transfer, conveyance or hypothecation of any interest in or to the subject. matter of this Escrow shall be binding upon the Escrow Agent unless and until written notice thereof is served upon the Escrow Agent and any fees, costs and expenses incident to such transfer of interest shall have been paid. 7. Notices by Agent. Any notice required or desired to be given by Escrow Agent to any other party to this Escrow Agreement may be given by mailing the same to such party at the address noted below, or such changed address as may have been delivered in writing to the Escrow Agent by the party whose address is to be changed. Notice so mailed shall for all purposes hereof be as effectual as though served upon such party in person at the time of depositing such notice in the mail. 8. Good Faith. The undersigned agree that the Escrow Agent shall not be held liable for any act it may do or omit to do hereunder as such Agent, while acting in good faith in the exercise of its best judgment. Any act done or omitted by it pursuant to the advice of its attorney shall be conclusive evidence of such good faith. 9. Notice to Agent and Court Orders. The Escrow Agent is hereby expressly authorized and directed to disregard any notices or warnings given by and of the parties hereto, or by any other person or corporation, excepting only orders or process of court, and is hereby expressly authorized to comply with, and to obey any and all orders, judgments or decrees of any court. In case the said Agent obeys or complies with any such order, judgment or decree of any court, it shall not be liable to any of the parties hereto not to anyone else by reason of such compliance, notwithstanding any such order, judgment or decree being subsequently reversed, modified, annulled, set aside or vacated, or found to have been entered without jurisdiction. 10. Indemnification. In consideration of the acceptance of the deposits and duties under this Escrow Agreement by the Escrow Agent, the undersigned Owner agrees for itself, its heirs, representatives, successors and assigns, to pay the Escrow Agent its charges hereunder and to indemnity and hold harmless as to any liability by it incurred to any other person or corporation by reason of its having accepted the same or in connection herewith, and agree to reimburse it for all its expenses, including, among other things, counsel fees and court \\Hal\l\M B\Lake Springs\En al Plat\Document Escrow Agreement.wpd Page 2 of 4 • • costs incurred in connection herewith; and further agree that the Escrow Agent shall have a first prior lien upon all deposits made hereunder to secure the performance of said agreement of indemnity and the payment of its charges and expenses. Escrow fees or charges, as distinguished from other expenses hereunder shall be as written above the Escrow Agent's signature at the time of its acceptance hereof. 11. Limitation on Escrow Agent's Liabilities. Escrow Agent shall be liable only for its willful acts and misconduct with respect hereto. In the event any interpleader suit is brought hereunder, Escrow Agent shall be reimbursed for all costs, expenses, and reasonable attorney's fees, which it may expend or incur in any such interpleader suit, the amount thereof to be fixed in the judgment thereon to be rendered by the court in such suit. Upon the filing of such suit, Escrow Agent shall be fully released and discharged from all obligations imposed by these instructions. 12. Accommodation Only. Land Title Guarantee Company is holding this Escrow as an accommodation only. If interpleading the documents becomes necessary, any attorney fees and costs born by Land Title Guarantee Company shall be deducted from the amount of the Escrow or interplead funds prior to any other disbursements. If these fees or charges exceed the amount of the escrow, Owner agrees to immediately reimburse Land Title Guarantee Company. 13. Disbursements. The Escrow Agent shall have seventy-two (72) hours to make any disbursement required under this escrow agreement. IN WITNESS WHEREOF, the undersigned have hereunto affixed their signatures and hereby adopt this Agreement this day of November 2004. OWNER: Berkeley Family Limited Partnership By: COUNTY: The Board of County Commissioners of Garfield County By: Escrow Fee of $50.00/HOUR. Accepted and receipt of Deeds itemized herein are hereby acknowl edged. \\Hal\1\M B\i.ake Springs\Einal Plat\Document Escrow Agreement.wpd ESCROW AGENT: Land Title Guarantee Company 1317 Grand Avenue, Suite 200 Glenwood Springs, CO 81601 (970) 945-2610 Page 3 of 4 • • Bv: \\Hal\1\M B\Lake Springs\Final Plat\Document Escrow Agreement.wpd Page 4 of 4 QUIT CLAIM DEED (Open Space /Agricultural Reserve ) THIS DEED made this day of November 2004 between Berkeley Family Limited Partnership ("Grantor") and Lake Springs Ranch Owners Association, whose address is 4001 County Road 114, Glenwood Springs, Colorado 81601 ("Grantee"). WITNESSETH, That Grantor, for and in consideration of the sum of One Dollar and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, has remised, released, sold, conveyed and QUIT CLAIMED, and by these presents does remise, release, sell, convey and QUIT CLAIM unto Grantee, Grantee's successors and assigns, forever, all the right, tide, interest, claim and demand which Grantor has in and to the real property, if any, situate, lying and being in the County of Garfield and State of Colorado, described as follows: A PARCEL OF LAND SITUATED IN GOVERNMENT LOTS 5 AND 6 OF SECTION 32 AND IN GOVERNMENT LOTS 7, 8, 9, 10, 16, 17, 20 AND 21 OF SECTION 33, TOWNSHIP 6 SOUTH, RANGE 88 WEST OF THE SIXTH PRINCIPAL MERIDIAN, COUNTY OF GARFIELD, STATE OF COLORADO; SAID PARCEL BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE SOUTH QUAR 1'ER CORNER OF SAID SECTION 33; THENCE N89°40'02"W ALONG THE SOUTHERLY BOUNDARY OF SAID SECTION 33 A DISTANCE OF 434.93 FEET TO THE POINT OF BEGINNING; THENCE CONTINUING ALONG SAID SOUTHERLY BOUNDARY N89°40'02"W A DISTANCE OF 2,067.79 FEET; THENCE LEAVING SAID SOUTHERLY BOUNDARY N01°58'08"E ALONG THE WESTERLY BOUNDARY OF SAID GOVERNMENT LOTS 20 AND 17 A DISTANCE OF 2,064.02 FEET TO THE EAST QUAR LER CORNER OF SAID SECTION 33; THENCE N87°10'45"W ALONG THE SOUTHERLY BOUNDARY OF SAID GOVERNMENT LOTS 9 AND 6 A DISTANCE OF 383.69 FEET; THENCE NO2°44'55"E A DISTANCE OF 226.12 FEET; THENCE N20°07'40"W A DISTANCE OF 1143.91 FEET TO A POINT ON THE SOUTHERLY RIGHT-OF- WAY OF SPRING VALLEY ROAD (PROPOSED); THENCE S89°05'51"E ALONG SAID RIGHT-OF-WAY A DISTANCE OF 553.17 FEET; THENCE CONTINUING ALONG SAID RIGHT-OF-WAY ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF 1,320.00 FEET AND A CENTRAL ANGLE OF 32°57'29", A DISTANCE OF 759.30 FEET (CHORD BEARS S72°37'06"E A DISTANCE OF 748.88 FEET); THENCE LEAVING SAID RIGHT- OF-WAY S39°45'38"W A DISTANCE OF 201.52 FEET; THENCE S19°49'18"E A Survey Description Prepared 13y: High Country Engineering AFTER RECORDING, RETURN TO: Schenk, Kerst & deWinter, LLP 302 Eighth Street, Suite 310 Glenwood Springs, CO 81601 DISTANCE OF 223.31 FEET; THENCE S39°03'44"E A DISTANCE OF 517.33 FEET; THENCE N59°33'05"E A DISTANCE OF 317.38 FEET TO A POINT ON THE SOUTHERLY RIGHT-OF-WAY OF SPRING VALLEY ROAD (PROPOSED) ; THENCE ALONG SAID RIGHT-OF-WAY ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF 1,620.00 FEET AND A CENTRAL ANGLE OF 03°32'14", A DISTANCE OF 100.01 FEET (CHORD BEARS 530°36'47"E A DISTANCE OF 100.00 FEET); THENCE LEAVING SAID RIGHT-OF-WAY S59°33'05"W A DISTANCE OF 365.10 FEET; THENCE S47°51'59"W A DISTANCE OF 190.00 FEET; THENCE S21 °59'27"E A DISTANCE OF 473.64 FEET; THENCE S75°28'47"E A DISTANCE OF 190.00 FEET; THENCE S17°00'24"E A DISTANCE OF 602.96 FEET; THENCE S31 °20'56"E A DISTANCE OF 929.26 FEET; THENCE S53°05'20"E A DISTANCE OF 415.90 FEET; THENCE S00° 19'58"W A DISTANCE OF 50.00 FEET TO THE POINT OF BEGINNING; SAID PARCEL OF LAND CONTAINING 94.340 ACRES, MORE OR LESS. The Agricultural Reserve as depicted on the Final Plat of Lake Springs Ranch, Filing 1, is reserved to Grantor for agricultural activities and pursuits including the cultivation of agricultural crops and rearing of livestock for profit. No member of Grantee shall have any right in or power with respect to the Agricultural Reserve, the use and enjoyment of which is reserved exclusively to Grantor. Inasmuch as it is the declared policy of the State of Colorado to conserve, protect and increase the development and improvement of agricultural lands for the production of agricultural products, and this parcel will remain in agricultural production for an indefinite period of time, all members of Grantee are charged with notice that this property is agricultural lands upon which agricultural operations have been continuing for more than one (1) year prior to the date of recordation of this deed. In accordance with applicable Colorado law, no such agricultural operations shall be deemed a private or public nuisance by reasons of development of the PUD or any other changed condition in or about the vicinity of the agricultural operation, except in the case of (a) the negligent operation of the agricultural use, (b) a change of the agricultural operation which would result in a private or public nuisance, or © upon a substantial increase in the size of the agricultural operation. TO HAVE AND TO HOLD the same, together with all appurtenances and privileges thereunto belonging or in anywise thereunto appertaining, and all the estate, right, title, interest and claim whatsoever, of Grantor, either in law or equity, to the only proper use, benefit and behoof of Grantee, Grantee's successors and assigns forever. IN WITNESS WHEREOF, Grantor has executed this deed on the date set forth above. rrr dorsi for apt o Survey Description Prepared By: High Country Engineering AFTER RECORDING, RETURN To: Schenk, Kerst & deWinter, LLP 302 Eighth Street, Suite 310 Glenwood Springs, CO 81601 STATE OF COLORADO ) s COUNTY OF GARFIELD ) s. Berkeley Family Limited Partnership By: General Partner The foregoing instrument was acknowledged before me this day of November 2004 by as general partner of Berkeley Family Limited Partnership. WITNESS my hand and official seal. My commission expires: Notary Public Survey Description Prepared By: High Country Engineering AFTER RECORDING, RETURN TO: Schenk, Kerst & deWinter, LLP 302 Eighth Street, Suite 310 Glenwood Springs, CO 81601 QUIT CLAIM DEED (Easements) THIS DEED made this day of November 2004 between Berkeley Family Limited Partnership ("Grantor") and Lake Springs Ranch Owners Association, whose address is 4001 County Road 114, Glenwood Springs, Colorado 81601 ("Grantee"). WITNESSETH, That Grantor, for and in consideration of the sum of One Dollar and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, has remised, released, sold, conveyed and QUIT CLAIMED, and by these presents does remise, release, sell, convey and QUIT CLAIM unto Grantee, Grantee's successors and assigns, forever, non-exclusive easements and rights of way over and across Grantor's Property for the purpose of laying, constructing, operating, using, inspecting, maintaining, repairing, and replacing a water line, water tank, other utility lines, access driveways and all appurtenant parts thereof, such easements, situate, lying and being in the County of Garfield and State of Colorado, and more particularly described as follows: [Water Tank Easement] A PARCEL OF LAND SITUATED IN THE SWI/4SW1/4 OF SECTION 34, TOWNSHIP 6 SOUTH, RANGE 88 WEST OF THE SIXTH PRINCIPAL MERIDIAN, COUNTY OF GARFIELD, STATE OF COLORADO; SAID PARCEL OF LAND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE QUARTER CORNER OF SAID SECTION 33; THENCE S12°06'09"E A DISTANCE OF 1,656.13 FEET TO A POINT ON THE EASTERLY RIGHT-OF-WAY OF A 60' NON-EXCLUSIVE ACCESS/UTILITY EASEMENT, THE POINT OF BEGINNING; THENCE ALONG SAID RIGHT- OF-WAY ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF330.00 FEET AND A CENTRAL ANGLE OF 06°56'57", A DISTANCE OF 40.02 FEET (CHORD BEARS N07°51'47"E A DISTANCE OF 40.00 FEET); THENCE LEAVING SAID RIGHT-OF-WAY S82°15'10"E A DISTANCE OF 355.03 FEET; THENCE ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF 250.00 FEET AND A CENTRAL ANGLE OF 83°34'48", A DISTANCE OF 364.69 FEET (CHORD BEARS S40°27'46"E A DISTANCE OF 333.20 FEET); THENCE S01°19'38"W A DISTANCE OF 99.45 FEET; THENCE ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF 68.00 FEET AND A CENTRAL ANGLE OF 250°16'47", A DISTANCE OF 297.04 FEET (CHORD BEARS N53°31'59"W A DISTANCE OF 111.21 FEET); THENCE N06°49'41"W A DISTANCE OF 144.76 FEET; THENCE N39°48'27"W A DISTANCE OF 26.45 FEET; THENCE N33°02'30"W A DISTANCE OF 83.23 Survey Description Prepared By: High Country Engineering Al I ER RECORDING, RETURN TO: Schenk, Kerst & deWinter, LLP 302 Eighth Street, Suite 310 Glenwood Springs, CO 81601 FEET; THENCE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 210.00 FEET AND A CENTRAL ANGLE OF 14°15'10", A DISTANCE OF 52.24 FEET (CHORD BEARS N75°07'35"W A DISTANCE OF 52.10 FEET); THENCE N82° 15'10"W A DISTANCE OF 355.11 FEET TO THE POINT OF BEGINNING; SAID PARCEL OF LAND CONTAINING 1.262 ACRES, MORE OR LESS. [Water Well Easement] A 30.00 FOOT WIDE STRIP OF LAND SITUATED IN GOVERNMENT LOT 13 OF SECTION 33, TOWNSHIP 6 SOUTH, RANGE 88 WEST OF THE SIXTH PRINCIPAL MERIDIAN, COUNTY OF GARFIELD, STATE OF COLORADO; SAID STRIP OF LAND LYING 15.00 FEET TO EACH SIDE OF THE FOLLOWING DESCRIBED CENTERLINE: COMMENCING AT THE QUARTER CORNER OF SAID SECTION 33; THENCE S03°13'15"W A DISTANCE OF 1,964.52 FEET TO A POINT ON THE CENTERLINE OF A 60' NON-EXCLUSIVE ACCESS/UTILITY EASEMENT, THE POINT OF BEGINNING; THENCE LEAVING SAID CENTERLINE N17°33'09"W ALONG THE CENTERLINE OF SAID WELL EASEMENT A DISTANCE OF 218.10 FEET TO THE TERMINUS (WHENCE THE EAST QUARTER CORNER OF SAID SECTION 33 BEARS N05 °44' 12"E A DISTANCE OF 1762.30 FEET). [Access/Utility Easement] A 60.00 FOOT WIDE STRIP OF LAND SITUATED IN GOVERNMENT LOT 13 AND THE NE1 /4SE1 /4 OF SECTION 33 AND THE SWI /4SW1 /4 OF SECTION 34, TOWNSHIP 6 SOUTH, RANGE 88 WEST OF THE SIXTH PRINCIPAL MERIDIAN, COUNTY OF GARFIELD, STATE OF COLORADO; SAID STRIP OF LAND LYING 30.00 FEET TO EACH SIDE OF THE FOLLOWING DESCRIBED CENTERLINE: COMMENCING AT THE QUARTER CORNER OF SAID SECTION 33; THENCE S68°55'42"W A DISTANCE OF 999.77 FEET TO A POINT IN THE CENTERLINE OF COUNTY ROAD NO. 114, THE POINT OF BEGINNING; THENCE LEAVING THE CENTERLINE OF SAID COUNTY ROAD S46°51'11"E ALONG THE CENTERLINE OF SAID EASEMENT A DISTANCE OF 459.24 FEET; THENCE CONTINUING ALONG SAID CENTERLINE ALONG THE ARC OF A CURVE TO THE 5,116 Survey Description Prepared By: High Country Engineering AFTER RECORDING, RETURN TO: Schenk, I:erst & deWinter, LLP 302 Eighth Street, Suite 310 Glenwood Springs, CO 81601 RIGHT HAVING A RADIUS OF 850.00 FEET AND A CENTRAL ANGLE OF 54°10'24", A DISTANCE OF 803.68 FEET (CHORD BEARS S19°45'59"E A DISTANCE OF 774.07 FEET); THENCE CONTINUING ALONG SAID CENTERLINE S07° 19'13"W A DISTANCE OF 342.67 FEET; THENCE CONTINUING ALONG SAID CENTERLINE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 200.00 FEET AND A CENTRAL ANGLE OF 102°49'58", A DISTANCE OF 358.95 FEET (CHORD BEARS S44°05'46"E A DISTANCE OF 312.68 FEET); THENCE CONTINUING ALONG SAID CENTERLINE N84°29'15"E A DISTANCE OF 130.49 FEET; THENCE CONTINUING ALONG SAID CEN BRUNE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 380.00 FEET AND A CENTRAL ANGLE OF 64°55'05", A DISTANCE OF 430.55 FEET (CHORD BEARS N52° 01'43"E A DISTANCE OF 407.89 FEET); THENCE CONTINUING ALONG SAID CENTERLINE N19°34'10"E A DISTANCE OF 50.92 FEET; THENCE CONTINUING ALONG SAID CENTERLINE ALONG THE ARC OF A CURVE TO THE LEFT HAVING A RADIUS OF 300.00 FEET AND A CENTRAL ANGLE OF 57°24'55", A DISTANCE OF 300.63 FEET (CHORD BEARS N09 ° 08118"W A DISTANCE OF 288.20 FEET); THENCE CONTINUING ALONG SAID CENTERLINE ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF 250.00 FEET AND A CENTRAL ANGLE OF 34°30'24", A DISTANCE OF 150.56 FEET (CHORD BEARS N20°35'33t'W A DISTANCE OF 148.30 FEET) TO A POINT ON THE NORTHERLY BOUNDARY OF THE SW1 /4SW1 /4 OF SAID SECTION 34, THE TERMINUS (WHENCE THE EAST QUARTER CORNER OF SAID SECTION 34 BEARS N09°36'16"W A DISTANCE OF 1249.07 FEET). TO HAVE AND TO HOLD the same, together with all appurtenances and privileges thereunto belonging or in anywise thereunto appertaining, and all the estate, right, tide, interest and claim whatsoever, of Grantor, either in law or equity, to the only proper use, benefit and behoof of Grantee, Grantee's successors and assigns forever. IN WITNESS WHEREOF, Grantor has executed this deed on the date set forth above. STATE OF COLORADO ) COUNTY OF GARFIELD ) ss. Berkeley Family Limited Partnership By: General Partner Survey Description Prepared By: High Country Engineering AFTER RECORDING, RETURN To: Schenk, Kerst & deWinter, LLP 302 Eighth Street, Suite 310 Glenwood Springs, CO 81601 The foregoing instrument was acknowledged before me this day of November 2004 by as general partner of Berkeley Family Limited Partnership. WITNESS my hand and official seal. My commission expires: lam deed flee eseemen..fren Notary Public Survey Description Prepared By: High Country Engineering AFTER RECORDING, RETURN TO: Schenk, Kerst & deWinter, LLP 302 Eighth Street, Suite 310 Glenwood Springs, CO 81601