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HomeMy WebLinkAbout21.02 Draft Subdivision Improvements AgreementSUBDIVISION IMPROVEMENTS AGREEMENT PHASE I SPRING VALLEY RANCH SUBDIVISION LOCATED WITHIN THE SPRING VALLEY RANCH P.U.D. THIS SUBDIVISION IMPROVEMENTS AGREEMENT ("SIA") is made and entered into this day of , 2010, by and between SPRING VALLEY HOLDINGS, LLC, a Delaware Limited Liability Company ("Owner") and the BOARD OF COUNTY COMMISSIONERS OF GARFIELD COUNTY, COLORADO, acting for the County of Garfield, State of Colorado, as a body politic and corporate, directly or through its authorized representatives and agents ("BOCC"). Recitals A. Owner is the owner and developer of the Spring Valley Ranch P.U.D. (the "P.U.D.Subdivision"), a portion of which property is depicted on the Phase I Final Plat of the Spring Valley Ranch Subdivision ("Subdivision" or "Final Plat"). The real property subject to this SIA is described in the Final Plat recorded at Reception Number of the real estate records of Garfield County, Colorado and incorporated by this reference. B. On April 21, 2008, the BOCC, by Resolution No. 2008-55, recorded as Reception No. 747015 of the real estate records of Garfield County, Colorado, and as corrected by Resolution No. 2010-_, recorded as Reception No. of the real estate records of Garfield County, Colorado, and incorporated herein by this reference, approved a planned unit development re -zoning application for Spring Valley Ranch P.U.D. ("P.U.D. Approval"). C. On April 21, 2008, the BOCC, by Resolution No. 2008-56, recorded as Reception No. 747016 of the real estate records of Garfield County, Colorado and incorporated herein by this reference, approved a preliminary plan for the sSubdivision of the P.U.D. which, among other things, would create 577 dwelling units and golf course, open space/common area and utility parcels ("Preliminary Plan Approval"). D. Certain of the conditions of approval contained in the P.U.D. Approval and the Preliminary Plan Approval are applicable to the approval and construction of improvements necessary for development of Phase 1 of the SubdivisienP.U.D. as depicted on the Final Plat, while other conditions of approval are applicable to later phases of the P.U.D.- A description of said conditions is set forth in Exhibit A attached hereto and incorporated herein by this reference. The conditions of approval applicable to the development of Phase 1 of the SubdivisienP.U.D. as depicted on the Final Plat, and this SIA, are referred to herein as the "Applicable Conditions of Approval." 1 E. As a condition precedent to the approval of the Final Plat submitted to the BOCC for approval as required by the laws of the State of Colorado and by the Garfield County Unified Land Use Resolution of 2008, Owner wishes to enter into this SIA with the BOCC. F. Owner has agreed to execute and deliver a letter of credit or other security in a form satisfactory to the BOCC to secure and guarantee Owner's performance under the Applicable Conditions of Approval and has agreed to certain restrictions and conditions regarding the sale of properties and issuance of building permits and certificates of occupancy within the Final Plat, all as more fully set forth below. G. Owner represents that at the time of recording this SIA all taxes and assessments upon all parcels of real estate described in this SIA are paid in full. NOW, THEREFORE, in consideration of the mutual covenants and promises contained herein, the BOCC and Owner ("Parties") agree as follows: Agreement 1. FINAL PLAT APPROVAL. The BOCC hereby accepts and approves the Final Plat, on the date set forth above, subject to the terms and conditions of this SIA, the Applicable Conditions of Approval, and the requirements of the Garfield County Unified Land Use Resolution of 2008 and any other governmental or quasi -governmental regulations applicable to the SubdivisienP.U.D. ("Final Plat Approval"). This approval authorizes construction and development within Phase I of the SubdivisienP.U.D., as required by the Applicable Conditions of Approval. Development within future phases shall require subsequent approval by the BOCC of subdivision final plats and associated subdivision improvements agreements and other documents required for approval by the BOCC of future phases. Recording of the Final Plat shall be in accordance with this SIA and at the time prescribed herein. 2. OWNER'S PERFORMANCE AS TO IMPROVEMENTS. a. Completion Date/Substantial Compliance. Owner shall cause to be constructed and installed those subdivision improvements, identified in the Exhibits defined in subparagraph 2.a.i., below ("Improvements"), at Owner's expense, including payment of fees required by the County and/or other governmental and quasi -governmental entities with regulatory jurisdiction over the SubdivisionP.U.D.. The Improvements shall be completed on or before the end of the first full year following execution of this SIA, i.e., December 31, 2011 ("Completion Date"), in substantial compliance with the following: i. Plans marked "Approved for Construction" for all Improvements, prepared by Owner's professional engineer licensed in the State of Colorado ("Owner's Engineer"), and submitted to the BOCC on or before , such 2 plans being summarized in the list of drawings attached to and made a part of this SIA by reference as Exhibit B; the estimated of cost of completion, certified by and bearing the stamp of Owner's Engineer, attached to and made a part of this SIA by reference as Exhibit C, which estimate shall include an additional ten (10) percent of the total for contingencies; and all other documentation required to be submitted along with the Final Plat under pertinent sections of the Garfield County Unified Land Use Resolution of 2008 ("Final Plat Documents"); ii. All Applicable Conditions of Approval; iii. All laws, regulations, orders, resolutions and requirements of Garfield County and all special districts and any other governmental or quasi -governmental authority(ies) with jurisdiction; and iv. The provisions of this SIA. b. Satisfaction of Subdivision Improvements Provisions. The BOCC agrees that if all Improvements are constructed and installed in accordance with this paragraph 2; the record drawings to be submitted upon completion of the Improvements as detailed in paragraph 3.h., below; and all other requirements of this SIA, then the Owner shall be deemed to have satisfied all terms and conditions of this SIA, the Final Plat Approval, the Applicable Conditions of Approval, and the Garfield County Unified Land Use Resolution of 2008, with respect to the construction and installation of the Improvements. 3. SECURITY FOR IMPROVEMENTS (EXCEPT REVEGETATION). a. Improvements Letter of Credit and Substitute Collateral. As security for Owner's obligation to complete the Improvements, Owner shall deliver to the BOCC, on or before the date of recording of the Final Plat with the Garfield County Clerk and Recorder, a Letter of Credit in the form attached as Exhibit D ("LOC"), or in a form consistent with the Uniform Commercial Code, C.R.S. § 4-1-101 et. seq. and reasonably acceptable to the BOCC. The LOC shall be in the amount of Two Hundred Sixty Six - Thousand Seventy Four dollars and 55 cents ($266,074.55), representing the full estimated cost of completing the Improvements and revegetation, including a sufficient contingency to cover cost changes, unforeseen costs and other variables (not less than 10% of the estimated costs and as approved by the BOCC), as set forth and certified by Owner's Engineer on Exhibit C, to guarantee completion of the Improvements. The LOC shall be valid for a minimum of six (6) months beyond the Completion Date for the Improvements set forth in Paragraph 2.a. above. The BOCC, at its sole option, may permit the Owner to substitute collateral other than a LOC, in a form acceptable to the BOCC, for the purpose of securing the completion of the Improvements. b. LOC Requirements and Plat Recording. The LOC shall be issued by a state or national banking institution reasonably acceptable to the BOCC. If the institution issuing 3 the LOC is not licensed in the State of Colorado and transacting business within the State of Colorado, the LOC shall be "confirmed" within the meaning of the Uniform Commercial Code, Letters of Credit, C.R.S. §4-5-101 et seq., as amended, by a bank that is licensed to do business in the State of Colorado, doing business in Colorado, and reasonably acceptable to the BOCC. The LOC shall state that presentation of drafts drawn under the LOC shall be at an office of the issuer or confirmer located in the State of Colorado. The Final Plat of the Subdivision shall not be recorded until the security described in this Paragraph 3 and the security for the revegetation described in Paragraph 4, below, has been received and approved by the BOCC. c. Extension of LOC Expiration Date. If the Completion Date, identified in Paragraph 2.a., above, is extended by a written amendment to this SIA, the time period for the validity of the LOC shall be similarly extended by the Owner. For each six (6) month extension, at the sole option of the BOCC, the face amount of the LOC shall be subject to re -certification by Owner's Engineer of the cost of completion and review by the BOCC. d. Unenforceable LOC. Should the LOC(s) become void or unenforceable for any reason, including bankruptcy of the Owner or the financial institution issuing or confirming the LOC, prior to the BOCC's approval of Owner's Engineer's certification of completion of the Improvements, this SIA shall become void and of no force and effect and the Final Plat shall be vacated pursuant to the terms of this SIA. e. Partial Releases of Security. Owner may request partial release(s) of the LOC, and shall do so by means of submission to the Building and Planning Department of a "Written Request for Partial Release of LOC," in the form attached hereto and incorporated herein by this reference as Exhibit E, accompanied by the Owner's Engineer's stamped certificate of partial completion of improvements. The Owner's Engineer's seal shall certify that the Improvements have been constructed in accordance with the requirements of this SIA, including all Final Plat Documents and the Preliminary Plan Approval. Owner may also request release for a portion of the security upon proof that: i) Owner has a valid contract with a public utility company regulated by the Colorado Public Utilities Commission obligating such company to install certain utility lines; and ii) Owner has paid to the utility company the cost of installation as required by the contract. The BOCC shall authorize successive releases of portions of the face amount of the LOC as portions of the Improvements, dealt with in this Paragraph 3, are certified as complete to the BOCC by the Owner's Engineer, Applicable Conditions of Approval have been met, and both the certification and satisfaction of such requirements have been approved by the BOCC. f. BOCC's Investigation. Notwithstanding the foregoing, upon submission of the Owner's Written Request for Partial Release of LOC, along with Owner's Engineer's Certificate of partial completion of improvements, the BOCC may review the certification and Applicable Conditions of Approval, and may inspect and review the 4 Field Code Improvements certified as complete to determine whether or not said Improvements have been constructed in compliance with relevant specifications, as follows: i. If no letter of potential deficiency is furnished to Owner by the BOCC within fifteen (15) days of submission of Owner's Written Request for Partial Release of LOC, accompanied by Owner's Engineer's certificate of partial completion of improvements, all Improvements certified as complete shall be deemed complete by the BOCC, and the BOCC shall authorize release of the appropriate amount of security; provided that all Applicable Conditions of Approval have been satisfied. ii. If the BOCC chooses to inspect and determines that all or a portion of the Improvements certified as complete are not in compliance with the relevant specifications or the Applicable Conditions of Approval, the BOCC shall deliver a letter of potential deficiency to the Owner, within fifteen business (15) days of submission of Owner's Written Request for Partial Release of LOC. iii. If the BOCC delivers a letter of potential deficiency identifying a portion of the certified Improvements as potentially deficient and there are no outstanding Applicable Conditions of Approval, then all Improvements not identified as potentially deficient shall be deemed approved by the BOCC, and the BOCC shall authorize release of the amount of security related to the Improvements certified as complete and not identified as potentially deficient. iv. With respect to Improvements identified as potentially deficient in a letter of potential deficiency or Applicable Conditions of Approval that have not been met, the BOCC shall have thirty (30) days from the date of the letter to complete the initial investigation, begun under subparagraph 3.f.ii., above, and provide written confirmation of the deficiency(ies) to the Owner. v. If the BOCC finds that the Improvements are complete, in compliance with the relevant specifications and that all Applicable Conditions of Approval have been met, then the BOCC shall authorize the appropriate amount of security for release within ten (10) days after completion of such investigation. g. BOCC Completion of Improvements and Other Remedies. If the BOCC finds, within the thirty (30) day period of time defined in subparagraph 3.f.iv. above, that the Improvements are not complete, or if the BOCC determines that the Owner will not or cannot construct any or all of the Improvements, whether or not Owner has submitted a written request for release of LOC, or that the Applicable Conditions of Approval have not been met, the BOCC may withdraw and employ from the LOC such funds as may be necessary to construct the Improvements in accordance with the specifications or to satisfy the Applicable Conditions of Approval, up to the face amount or remaining face 5 amount of the LOC. In such event, the BOCC shall make a written finding regarding Owner's failure to comply with this SIA or Applicable Conditions of Approval prior to requesting payment from the LOC, in accordance with the provisions of Article XIII of the Garfield County Unified Land Use Resolution of 2008. In lieu of or in addition to drawing on the LOC, the BOCC may bring an action for injunctive relief or damages for the Owner's failure to adhere to the provisions of this SIA regarding Improvements and satisfaction of the Applicable Conditions of Approval. The BOCC shall provide the Owner a reasonable time to cure any identified deficiency(ies) prior to requesting payment from the LOC or filing a civil action. h. Final Release of Security. Upon completion of all Improvements and satisfaction of Applicable Conditions of Approval other than revegetation, Owner shall submit to the BOCC, through the Building and Planning Department: 1) record drawings bearing the stamp of Owner's Engineer certifying that all on-site and off-site Improvements have been constructed in accordance with the requirements of this SIA, including all Final Plat Documents and the Applicable Conditions of Approval, in hard copy and a digital format reasonably acceptable to the BOCC; 2) copies of instruments conveying real property and other interests which Owner is obligated to convey to the Homeowners' Association of the SubdivisienP.U.D. or any statutory special district or other entity by the terms of this SIA; and 3) a Written Request for Final Release of LOC, in the form attached to and incorporated herein as Exhibit F, along with Owner's Engineer's Certificate of Final Completion of Improvements. i. The BOCC shall authorize a final release of the LOC after the Improvements are certified as final to the BOCC by the Owner's Engineer and said final certification is approved by the BOCC. If the BOCC finds that the Improvements are complete, in accordance with the relevant specifications and the Applicable Conditions of Approval have been met, the BOCC shall authorize release of the final amount of security, within ten (10) business days following submission of the Owner's Written Request for Final Release of LOC accompanied by the other documents required by this paragraph 3.h. ii. Notwithstanding the foregoing, upon Owner's Written Request for Final Release of LOC accompanied by Owner's Engineer's certificate of final completion of improvements, the BOCC may inspect and review the Improvements certified as complete. If the BOCC does so review and inspect, the process contained in paragraph 3.f. above shall be followed. iii. If the BOCC finds that the Improvements are complete, in accordance with the relevant specifications and all Applicable Conditions of Approval have been satisfied, the BOCC shall authorize release of the final amount of security within ten (10) days after completion of such investigation. iv. If the BOCC finds that the Improvements are not complete, in accordance with the relevant specifications, and/or that Applicable Conditions of 6 Approval have not been satisfied, the BOCC may complete remaining Improvements and satisfy unsatisfied Applicable Conditions of Approval, or institute court action in accordance with the process outlined in Paragraph 3.g., above. 4. SECURITY FOR REVEGETATION. a. Revegetation LOC and Substitute Collateral. Four -Thousand Two -Hundred Twenty Seven dollars ($4,227.00) of the face amount of the LOC shall be allocated to revegetation of disturbed areas within the Subdivision ("Revegetation LOC"). The Revegetation LOC shall be valid for a minimum of two (2) years following recording of the Final Plat. The BOCC, at its sole option, may permit the Owner to substitute collateral other than a letter of credit, in a form reasonably acceptable to the BOCC, for the purpose of securing the completion of revegetation. b. Revegetation LOC General Provisions. The provisions of Paragraphs 3.b., 3.c., and 3.d., above, dealing with Letter of Credit requirements, extension of expiration dates, increase in face amounts, and plat recording shall apply to the Revegetation LOC. c. Revegetation Review and Notice of Deficiency. Upon establishment of vegetation, the Owner shall request review of the revegetation work by the Garfield County Vegetation Management Department, by telephone or in writing. Such review shall be for the purpose of verification of success of revegetation and reclamation in accordance with the Garfield County Weed Management Plan 2000, adopted by Resolution No. 2002-94 and recorded in the Office of the Garfield County Clerk and Recorder as Reception No. 580572, as amended, and the Revegetation/Reclamation Plan for the Final Plat submitted as part of the Final Plat Documents. If the Vegetation Management Department refuses approval and provides written notice of deficiency(ies), the Owner shall cure such deficiencies by further revegetation efforts, approved by the Vegetation Management Department, as such may be instituted within the two (2) years following recording of the Final Plat. d. Single Request for Release of Revegetation LOC. Following receipt of written approval of the Garfield County Vegetation Management Department, the Owner may request release of the Revegetation LOC and shall do so by means of submission to the BOCC, through the Building and Planning Department, of a Written Request for Release of the Revegetation LOC, in the form attached to and incorporated herein by reference as Exhibit G along with certification of completion by the Owner, or Owner's agent with knowledge, and a copy of the written approval of the Vegetation Management Department. It is specifically understood by the parties that the Revegetation LOC is not subject to successive partial releases, as authorized in paragraph 3.e., above. Further, the Revegetation LOC and the BOCC's associated rights to withdraw funds and bring a court action may survive final release of the LOC securing other Improvements, defined in paragraph 3.a., above. 7 e. BOCC's Completion of Revegetation and Other Remedies. If Owner's revegetation efforts are deemed by the BOCC unsuccessful, based on the recommendation of the Vegetation Management Department and information submitted by the Owner, or if the BOCC determines that the Owner will not or cannot complete revegetation, the BOCC may withdraw and employ from the Revegetation LOC such funds as may be necessary to carry out the revegetation work, up to the amount of Revegetation LOC. In lieu of or in addition to drawing on the Revegetation LOC, the BOCC may bring an action for injunctive relief or damages for the Owner's failure to adhere to the provisions of this SIA related to revegetation. The BOCC shall provide the Owner a reasonable time to cure any identified deficiency prior to requesting payment from the Revegetation LOC or filing a civil action. 5. PRIVATE ROADS AND ACCESS FOR EMERGENCY SERVICE PROVIDERS. All roads within the Subdivision shall be set apart and conveyed to the Landis Creek Metropolitan District No. 1, subject to public easements for ingress and egress by emergency service providers. The Landis Creek Metropolitan District No. 1 shall be solely responsible for the maintenance, repair and upkeep of said roads, including the traveled surface of the roadways and areas outside of the traveled surface. The BOCC shall not be obligated to maintain road rights-of-way within the Subdivision. Existence of roads shall be noted on the Final Plat, and deeds of conveyance to the Landis Creek Metropolitan District No. 1 shall be recorded at the time of Final Plat Approval or shall be held in escrow under terms of paragraph 7, below. 6. PUBLIC UTILITY RIGHTS OF WAY. Whether or not utility asements ated by the Owner and accepted by the BOCC, on and Right of Way use Regulations, recorded as Reception No. 643477, in the records of the Garfield County Clerk and Recorder, as amended, and shall be identified in deeds conveying private roads to the Landis Creek Metropolitan District No. 1. The Landis Creek Metropolitan District No. 1 shall be solely responsible for the maintenance, repair and upkeep of said public utility asements, unless otherwise agreed to with the public required conveyance documents. PUBLIC UTILITY RIGHTS -OF - not utility easements exist elsewhere in the Subdivision, al Subdivision shall contain easements for installat utility easements not within co by recorded instrument to th Homeowner's Association o hether or rights-of-way within the nd maintenance of utilities. Public d a 1 be depicted on the Final Plat and deeded for the benefit of public utility providers. The Subdivision shall be solely responsible for the maintenance, repair and upkeep of said public utility easements, unless otherwise agreed to with the public utility company(ies). The BOCC shall not be obligated for the maintenance, repair and upkeep of any utility easement within the Subdivision. In the event a utility company, whether publicly or privately owned, requires conveyance of the easements dedicated on the face of the Final Plat by separate document, Owner (HOA) shall execute and record the required conveyance documents. Any utility easement within County road rights-of-way are subject to the Garfield County Road and Right -of - Way Use Regulations, recorded as Reception No. 643477, in the records of the Garfield County Clerk and Recorder, as amended. 7. CONVEYANCE OF OPEN SPACE. The common open space parcels identified on the Final Plat shall be conveyed by Owner to the Homeowner's Association at the time of Final Plat Approval. Owner shall deposit with the Garfield County Clerk and Recorder executed originals of the instruments of conveyance for recordation the Clerk and Recorder at the same time as the F' shall execute and deliver such deeds into -escrow with Land Title Guarantee Company, Glenwood Springs, Colorado, pursuant to the terms and co Escrow Agreement within a reasonable time following mutual execution of this SIA, but need not record such instrument. The Escrow Agreement shall provide: of the Owner in this SIA has been completed and approved as complete by stating that Owner has failed to comply with the terms and conditions of D:- ,... - extended by amendment of this SIA; and Recorder. 8. INDEMNITY. The Owner shall indemnify and hold the BOCC harmless and defend the BOCC from all claims which may arise as a result of the Owner's installation of the Improvements and any other agreement or obligation of Owner related to development of the Subdivision required pursuant to this SIA. The Owner, however, does not indemnify the BOCC for claims made asserting that the standards imposed by the BOCC are improper or the cause of the injury asserted, or from claims which may arise from the negligent acts or omissions of the BOCC or its employees. The BOCC shall notify the Owner of the BOCC' s receipt of a notice of claim or a notice of intent to sue, and the BOCC 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 BOCC's rights under this paragraph. Nothing in this paragraph shall be construed to constitute a waiver of the governmental immunity granted to the BOCC by Colorado statutes and case law. 9 Study Area No. . But for the provisions of this paragraph, the Owner would be obligated to pay Road Impact Fees in ac improvements specified in Exhibit A. However, such improvements are not required aJ 10. FEES IN LIEU OF DEDICATION OF SCHOOL LAND. For future new dwelling units will be constructed as part of Phase 1, no fee in licu of dedication of 9-14. SALE OF LOTS. No lots, tracts, or parcels within the Subdivision may be separately conveyed prior to recording of the Final Plat in the records of the Garfield County Clerk and Recorder. 1012. BUILDING PERMITS AND CERTIFICATES OF OCCUPANCY. As one remedy for breach of this SIA, including failure to satisfy the Applicable Conditions of Approval, the BOCC may withhold issuance of building permits for any residence or other habitable structure requiring a permit to be constructed within the Subdivision. No certificates of occupancy shall issue for any habitable buildings or structures, including residences, within the Subdivision until all Improvements except revegetation have been completed and are operational and all Applicable Conditions of Approval have been satisfied as required by this SIA. 1144. CONSENT TO VACATE PLAT. In the event the Owner fails to comply with the terms of this SIA, the BOCC shall have the ability to vacate the Final Plat as it pertains to any lots for which building permits have not been issued. As to 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 the BOCC a plat, suitable for recording, showing the location by surveyed legal description of any portion of the Final Plat so vacated by action of the BOCC. If such a plat is not signed by the BOCC and recorded, or if such a plat is not provided by the Owner, the BOCC may vacate the plat, or portions thereof, by Resolution. It is specifically agreed that this paragraph 13 applies to the Subdiv .U.D. as a multi -phased project and, therefore, in the event the BOCC vacates the Final Plat as to the Subdivision, subject of this SIA, the BOCC may also withhold approval of a final plat for a future phase if on-site or off-site Improvements, including revegetation and the Applicable Conditions of Approval, covered by this SIA are not completely installed and operable. 10 1244. ENFORCEMENT. In addition to any rights provided by Colorado statute, the withholding of building permits and certificates of occupancy provided for in paragraph 12 above and the provisions for release of security, detailed in paragraph 3 above, it is mutually agreed by the BOCC and the Owner that the BOCC, without making an election of remedies, or any purchaser of any lot within the Subdivision, shall have the authority to bring an action in the Garfield County District Court to compel enforcement of this SIA. Nothing in this SIA, however, shall be interpreted to require the BOCC to bring an action for enforcement or to withhold permits or certificates or to withdraw unused security, or to vacate the Final Plat or a portion thereof, nor shall this paragraph or any other provision of this SIA be interpreted to permit the purchaser of a lot to file an action against the BOCC. In addition, the BOCC may, but shall not be required to, pursue any of its enforcement remedies, if applicable, pursuant to Article XII of the Unified Land Use Resolution of 2008, as amended. 134-5. NOTICE BY RECORDATION. This SIA shall be recorded in the Office of the Garfield County Clerk and Recorder and shall be a covenant running with title to all lots, tracts, and parcels within the Final Plat. Such recording shall constitute notice to prospective purchasers or other interested parties as to the terms and provisions of this SIA. 144-6. SUCCESSORS AND ASSIGNS. The obligations and rights contained herein shall be binding upon and inure to the benefit of the successors and assigns of the Owner and the BOCC. 154-7. IDENTIFICATION OF CONTRACT ADMINISTRATORS AND NOTICE PROVISIONS. The representatives of the Owner and BOCC, identified below, are authorized as contract administrators and notice recipients. Notices required or permitted by this SIA shall be in writing and shall be deemed effective upon the date of delivery, or attempted delivery if delivery is refused. Delivery shall be made in person, by certified mail receipt requested U.S. mail, receipted delivery service, facsimile transmission, in all cases addressed to the authorized representatives of the BOCC and the Owner at the address or facsimile number set forth below: Owner: Daniel Goldberg c/o Seligman Western Enterprises, Ltd. 600 Montgomery Street, 40th Floor San Francisco, CA 94111 Fax: BOCC: Board of County Commissioners of Garfield County, Colorado c/o Building and Planning Director 108 Eighth Street, Suite 401 Glenwood Springs, CO 81601 Fax: (970) 384-3470 11 1 164-8. AMENDMENT AND SUBSTITUTION OF SECURITY. This SIA may be modified from time to time, but only in writing signed by the parties hereto, as their interests then appear. Any such amendment, including, by way of example, extension of the Completion Date, substitution of the form of security, or approval of a change in the identity of the security provider/issuer, shall be considered by the BOCC at a scheduled public meeting. If such an amendment includes a change in the identity of the provider/issuer of security, due to a conveyance of the Subdivision by the Owner to a successor in interest, Owner shall provide a copy of the recorded assignment document(s) to the BOCC, along with the original security instrument. Notwithstanding the foregoing, the parties may change the identification of notice recipients and contract administrators and the contact information, provided in paragraph 17 above, the provisions of that paragraph and without formal amendment of this SIA and without consideration at a BOCC meeting. 174-3. COUNTERPARTS. This SIA may be executed in counterparts, each of which shall be deemed an original, and all of which, when taken together, shall be deemed one and the same instrument. 1824. VENUE AND JURISDICTION. Venue and jurisdiction for any cause arising out of or related to this SIA shall lie with the District Court of Garfield County, Colorado, and this SIA shall be construed according to the laws of the State of Colorado. IN WITNESS WHEREOF, the parties have signed this SIA to be effective upon the date of Final Plat Approval for the Subdivision. ATTEST: Clerk to the Board BOARD OF COUNTY COMMISSIONERS OF GARFIELD COUNTY, COLORADO By: Chairman Date: OWNER: SPRING VALLEY HOLDINGS, LLC a Delaware Limited Liability Company By: (Name and Title) 12 Date: Owner 13 STATE OF COUNTY OF ) ss Subscribed and sworn to before me by an authorized representative of Spring Valley Holdings, LLC, a Delaware Limited Liability Company, Owner of the Subdivision, this day of , 2010. WITNESS my hand and official seal. My commission expires: Notary Public 14 EXHIBIT A Description of Applicable Conditions of Approval The following is a list of the conditions of approval contained in BOCC Resolution Nos. 2008-55 as corrected by Resolution No. 2010- (P.U.D. Approval) and Resolution No. 2008-56 (Preliminary Plan Approval), together with a description of whether and to what extent such conditions of approval constitute requirements under this SIA for Phase 1, or whether and to what extent such conditions of approval apply to subsequent phases. Those conditions of approval that constitute requirements under this SIA for Phase 1 shall be "Applicable Conditions of Approval" as that term is used in this SIA. Resolution No. 2008-55 1.0 The following conditions consolidate, amend, and restate as appropriate the conditions contained in the various resolutions approving, extending or amending the PUDP.U.D. for Spring Valley Ranch in Resolutions 2000-95, 2003-19, 2003- 99 and 2005-83. They supersede and replace all of the conditions of approval in said resolutions, and the conditions of approval set forth in said resolutions shall be null and of no further force or effect. • This condition is a general condition applicable to all phases, but for purposes of this SIA shall not be an Applicable Condition of Approval under this SIA. 2.0 All representations of the applicant, either within the application or stated at the meeting before the Planning Commission or in the hearing before the Board of County .Commissioners, shall be considered conditions of approval, including at a minimum, but not limited to the following: • This is a general condition applicable to all phases, but for purposes of this SIA shall not be an Applicable Condition of Approval under this SIA. 3.0 The following conditions included in the letter received from Nick Adeh of NA consulting dated June 13, 2000, are to be adhered to as a conditions of approval: 3.1 • This : <ition does not apply to Phase 1 Improvements and shall not be an App cable Condition of Approval under this SIA. This condition will apply to Ph.. e 3.2 he remaining segments of the CR 115 that are beyond the property frontage must remain unpaved and rough as is. Construct the west entrance to County standards as a paved road and stop CR115 paving at this intersection. 15 • This condition does not apply to Phase 1 Improvements and shall not be an Applicable Condition of Approval under this SIA. This condition will apply to all future phases. 3.3 Install selective signage on CR 115 just west of the PUDP.U.D. to discourage use of Red Canyon Road as an alternative access to State Highway 82. • This condition does not apply to Phase 1 Improvements and shall not be an Appl b : Condition of Approval under this SIA. This condition will apply to Pha 4.0 During construction, the applicant will be responsible for all dust mitigation caused by the project on on-site and off-site roads. • This shall be an Applicable Condition of Approval. 5.0 Access for out parcels shall be shown on the applicable final plats. • This condition does not apply to Phase 1 Improvements and shall not be an Applicable Condition of Approval under this SIA. 6.0 The monitoring plan for the best management practices shall be controlled/ implemented by the Home Owner's Association or another body capable of managing the plan. • This shall be an Applicable Condition of Approval. Upon inclusion of this condition within the CC&Rs for the Project, this condition shall be deemed satisfied. 7.0 All of the proposed Development Phasing Schedule be modified to require the final platting of all phases within 15 years of the platting of the first phase and that the completion of construction periods may be less as required by the applicable subdivision improvements agreement. • This is a general condition applicable to all phases, but for purposes of this SIA shall not be an Applicable Condition of Approval under this SIA. 8.0 Based upon the representations of the applicant, accepting the provisions of the letter of Mr. John R. Schenk, dated September 12, 2000, the following condition is imposed: 8.1 The Covenants, Conditions and Restrictions (CCRs) for the Community Housing component of the project shall provide that a Home Owners Association will be the governing authority with all appropriate 16 enforcement powers for operation and control of the Community Housing component. • This condition does not apply to Phase 1 Improvements and shall not be an Applicable Condition of Approval under this SIA. 9.0 Future use of additional wells (Gamba wells) requires the development of water rights and well permits if required by the appropriate state agency. • This condition does not apply to Phase 1 Improvements and shall not be an Applicable Condition of Approval under this SIA. 10.0 All conditions of the Division of Water Resources shall be met. Those conditions include but are not limited to: (1) the claimed water rights are dedicated to the project, and (2) the plan for augmentation is operated according to decreed terms and conditions. • This shall be an Applicable Condition of Approval, as it applies to water rights for the Sales Office/Entrance structure. 11.0 Available surface water supplies shall be used to their fullest extent to provide the irrigation supply to the golf courses in order to minimize groundwater withdrawals. A groundwater monitoring plan shall be developed to monitor future water levels near the Spring Valley Ranch wells. The monitoring plan shall include water level measurements in the production wells and other wells at the PUDP.U.D. that can be used as monitoring holes. The monitoring plan shall include measurements made with enough frequency to observe seasonal groundwater fluctuations and long term groundwater trends. Results of the monitoring program shall be available to the public. • This condition does not apply to Phase 1 Improvements and shall not be an Applicable Condition of Approval under this SIA. There will be an additional monitoring well developed or identified that is at least 2000 feet from the production wells. Either a new well or an off- site well meeting those criteria could meet the criteria. All of the monitoring reports will be available to the public. • This condition does not apply to Phase 1 Improvements and shall not be an Applicable Condition of Approval under this SIA. 12.0 The domestic water system must be constructed and operated in accordance with the Colorado Department of Public Health and Environment regulations and standards. 17 • This condition does not apply to Phase 1 Improvements and shall not he an Applicable Condition of Approval under this SIA. 13.0 The Applicant shall comply with the following conditions relating to wildlife: • This shall be an Applicable Condition of Approval. Except as noted below in 13.11, the following provisions shall be included within the CC&Rs for the Project. Upon inclusion of conditions 13.1-13.10 within the CC&Rs for the Project, this condition shall be deemed satisfied. 13.1 Dogs: Dogs shall be allowed on each residential, commercial and/or industrial lot pursuant to Section 3.17 of the Applicant's proposed covenants unless Garfield County Zoning and Subdivision regulations are more restrictive. 13.2 Seasonal Use Restrictions: The seasonal use restrictions proposed by the applicant in the submittal shall be conditions of approval. 13.3 Educating Residents: Consistent with the provisions in the CDOW Letter of August 31, 1999, the Applicant shall provide an informative brochure at the first Final Plat which is intended to be provided to residents at the time of conveyance of each lot. 13.4 Additional Commitments: The Wildlife Mitigation Plan proposed by the Applicant shall be made a part of the proposed covenants. 13.5 Fencing: Fencing shall be allowed pursuant to Section 3.24 of the proposed covenants. 13.6 Horses and Livestock: As per the Applicant's submittal, horses shall be permitted pursuant to Sections 3.17 and 3.24 of the proposed covenants. 13.7 Building Envelopes: Building envelopes shall be represented by the Applicant on the Preliminary Plan Application consistent with this PUDP.U.D. Application. 13.8 Wildlife Mitigation: A Wildlife Mitigation Plan will be implemented through the Applicant's proposed covenants and deed restrictions as a condition of any Final Plat approval. 13.9 Bears/Trash Removal: The Applicant shall comply with Section 3.14 of the propose covenants submitted by the Applicant. 18 13.10 Riparian/Wetlands: The provisions listed in the CDOW letter of August 31, 1999, and Section 4.3.4 of Appendix E of the submittal (Wildlife report) shall be conditions of any approval. 13.11 Raptor Survey: At the time of the first Final Plat, the Applicant shall demonstrate compliance with Section 4.3.3 of the "Wildlife Use, Impacts, and Mitigation" report submitted by the Applicant. • Under the terms of the "Wildlife Use, Impacts, and Mitigation" report this condition is not applicable to any structure in Phase 1. Therefore, this shall not be an Applicable Condition of Approval. 14.0 No new wood burning open hearth fireplaces shall be allowed within the development. • This shall be an Applicable Condition of Approval. Upon inclusion of this condition within the CC&Rs for the Project, this condition shall be deemed satisfied. 15.0 The Applicant shall accelerate the phasing for the Community Housing Units (in their same unit count / building mix) from phases 7 — 10 to 5 — 8. • This condition does not apply to Phase 1 Improvements and shall not be an Applicable Condition of Approval under this SIA. 16.0 All infrastructure, public utilities, trails and open space shall be phased in accordance with the phasing plan set forth in Exhibit 21 of Binder 4. Specifically, open space and trails approved as part of the PUDP.U.D. shall be allowed to be platted and constructed with each individual phase rather than all at once with the first Final Plat. The Final Plat of each phase shall result in a cumulative total of all open space in both the current Final Plat and all previously recorded Final Plats of at least 25%. Each Final Plat shall provide a calculation table that demonstrates the open space for that particular phase as well as summarizes the open space totals in any previous phase. • Owner has provided the required calculation and is in compliance with this condition for Phase 1. As a result, shall not be an Applicable Condition of Approval under this SIA. 17.0 Accessory Dwelling Units (ADUs) are prohibited in Spring Valley Ranch PUDP.U.D.. • This shall be an Applicable Condition of Approval. Upon inclusion of this condition within the CC&Rs for the Project, this condition shall be deemed satisfied. 19 Resolution 2008-56 1.0 The following conditions consolidate, amend, and restate as appropriate the conditions contained in the various resolutions approving, extending or modifying the preliminary plans for Spring Valley Ranch in Resolutions 2002-07, 2003-98 and 2005-84. They supersede and replace all of the conditions of approval in said resolutions, and the conditions of approval set forth in said resolutions shall be null and of no further force or effect. • This condition is a general condition applicable to all phases, but for purposes of this SIA shall not be an Applicable Condition of Approval under this SIA. 2.0 All representations of the applicant, either within the application or stated at the September 12, 2007, meeting before the Planning Commission or in the December 7, 2007, hearing before the Board of County Commissioners, shall be considered conditions of approval, including at a minimum, but not limited to the following: • This condition is a general condition applicable to all phases, but for purposes of this SIA shall not be an Applicable Condition of Approval under this SIA. 3.0 The applicant shall make application to the Colorado Department of Transportation, pursuant to Section 2.3(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. • This condition does not apply to Phase 1 Improvements and shall not be an Applicable Condition of Approval under this SIA. This condition will apply to Phase 8. 4.0 The applicant shall make the improvements to County Roads 114 and 115 as proposed in the application, at their own expense, regardless of cost, and consistent with the phasing of the improvements in the approved phasing plan. • This condition does not apply to Phase 1 Improvements becau ' no new dwelling units are included in Phase 1, and therefore shall not be an .pli • • ble Con4itipn of Approval under this SIA. This condition will apply to Ph•sej Z1 U 5.0 The alignment of CR 114 is contingent upon application by Lake Springs Ranch for the realignment of CR 114 through the Lake Springs Ranch and approval of such application by the County. The following conditions of approval shall apply 20 only if Lake Springs Ranch obtains approval for the realignment of CR 114 prior to the County's approval of the Subdivision Improvements Agreement for Phase 2 of Spring Valley Ranch PUDP.U.D.. Otherwise, the current conditions of approval related to CR 114 in its existing alignment shall apply, the Applicant shall not show the realigned road on any final plat, and the preliminary plan shall be automatically and without further action amended to delete the realigned road and the following conditions of approval: • This condition does not apply to Phase 1 Improvements because Lake Springs Ranch has not made application for the realignment of CR 114, and therefore shall not be an Applicable Condition of Approval under this SIA. 5.01 Because the proposed realignment of CR 114 will travel through Lake Springs Ranch, Lake Springs Ranch shall dedicate to Garfield County a right-of-way for CR 114 from the owners of the affected property prior to any approval of a final plat. This shall be shown on all final plat documents as appropriate. 5.02 If the proposed realignment of CR 114 is approved for both Spring Valley Ranch and Lake Springs Ranch, prior to construction of the realigned CR 114, the owners of Spring Valley Ranch shall submit a Road Vacation Application, executed by the owners of both Spring Valley Ranch and Lake Springs Ranch under the County Road Vacation Policies. 5.03 Because Spring Valley Sanitation District has made certain real improvements that are located within CR 114 as it is currently located, the Applicant and Lake Springs Ranch shall enter into an appropriate agreement with Spring Valley Sanitation District regarding the improvements that have been installed within the existing CR 114 alignment so that there will be no disruptions to service a provided by the District and that costs for relocation of certain improvements, if necessary, shall be addressed in the agreement. This signed agreement shall be provided to Staff at the time of the final plat. 5.04 Because the majority of the proposed realignment of CR 114 lies within the boundaries of the Lake Springs Ranch property, any approval for the realignment of CR 114 for Spring Valley Ranch shall not be considered approved unless a similar approval is obtained by Lake Springs Ranch. 5.05 Spring Valley Ranch, in the design and reconstruction of CR 114, shall comply with the standards and criteria included in Resolution 2002-109 as those conditions relate to shoulder width (6 feet), surfacing and ditch design. 21 5.06 Prior to approval of a new alignment for CR 114, Spring Valley Ranch shall submit a plan for the intended use of the old CR 114 Right -Of -Way. Such plan shall be approved by the owners of Lake Springs Ranch and provide for proportionate cost sharing. If the Plan proposes to leave the old CR 114 Right -Of -Way as -is for a period of at least one year, the owners of Spring Valley Ranch shall provide a weed management plan for that Right -of -Way. If the Plan for the new CR 114 Right -Of -Way requires reclamation, the owners of Spring Valley ranch shall submit 1) a plant material list, 2) a planting schedule, 3) an estimate in terms of acres or square feet of the area to be reclaimed, and 4) a revegetation bond or security before final BOCC approval. 5.07 The revegetation security provided to Garfield County shall be held by Garfield County until vegetation has been successfully reestablished according to the Reclamation Standards in the Garfield County Weed management Plan. The Board of County Commissioners will designate a member of their staff to evaluate the reclamation prior to the release of the security. 5.08 The Reclamation Plan anticipated in condition 5.07 above shall include 1) a plant material list (to conform with the surrounding native vegetation), 2) a planting schedule, 3) a map of the areas impacted by soil disturbances (road cuts) and an estimate of surface area disturbed, and 4) a revegetation bond or security as part of the relevant subdivision improvements agreements. 5.09 The Subdivision Improvements Agreement (SIA) for Phase 2 of Spring Valley Ranch PUDP.U.D. shall provide that the Phase 2 improvements to CR 114 need not be commenced until 2 years after the earlier of i) the date of the SIA for Phase 2, or ii) the approval of the application by the Lake Springs Ranch developers to realign CR 114. In the event the end of said 2 -year period falls between October 1 — March 31, the Applicant may commence construction as soon as practicable when weather conditions permit. Security for the Phase 2 improvements to CR 114 shall be in place at the same time as other improvements set forth in the subdivision improvements agreement for Phase 2. The phasing schedule set forth in Exhibit 21 of Binder 4 is hereby amended to provide for the potential construction of Phase 2 improvements to CR 114 in accordance with this Condition 5.0. 6.0 The internal private roads will be maintained by either the Landis Creek Metropolitan District or the Homeowner's Association. In the event the roads are maintained by the Homeowners Association, a maintenance and repair plan for the internal private road system must be included in the covenants of the master homeowners association. 22 • This shall be an Applicable Condition of Approval. The covenants of the Master Association, section 4.1, require that the roads be maintained by the Landis Creek Metropolitan Districts No. 1 and/or No. 2, and therefore this condition is deemed satisfied Upon inclusion of this condition within a contract between the Landis Creek Metropolitan District and the Owner for phase 1, this condition shall be deemed satisfied. 7.0 The Applicant and Mrs. Veltus shall negotiate in good faith for the creation of a new road easement through the Applicant's property on reasonable terms and conditions. Such easement shall be identified on the final plat but shall not require a PUDP.U.D. amendment. • This condition does not apply to Phase 1 Improvements and shall not be an Applicable Condition of Approval under this SIA. This condition will apply to Phase 2. 8.0 The dam break failure analysis for an enlarged Hopkins Reservoir must be incorporated into the drainage plan and subdivision improvements agreement for phase 2 and incorporated into subsequent phases as applicable in a manner adequate to prevent damage or potential loss of life or structures within the subdivision. • This condition does not apply to Phase 1 Improvements and shall not be an Applicable Condition of Approval under this SIA. This condition will apply to Phase 2. 9.0 The Applicant shall upgrade the electrical utilities consistent with a contract with Holy Cross Electric, at the developer's expense. • This condition does not apply to Phase 1 Improvements because no electrical upgrade is required for Phase 1, and therefore shall not be an Applicable Condition of Approval under this SIA. 10.0 Prior to the recordation of the final plat that includes Lots R 92, 94 and 95, the Applicant shall install piezometers along the hillside in the location of Lots R 92, 94 and 95 to monitor groundwater conditions. This information shall be submitted to the Colorado Geologic Survey for their review and comment. The design for the development of such lots shall take this information into consideration, including the potential of a comprehensive solution and/or individual lot drainage mitigation. • This condition does not apply to Phase 1 Improvements and shall not be an Applicable Condition of Approval under this SIA. This condition will apply to Phase 6. 23 11.0 Plat notes and covenants shall indicate that all lots require a site specific geological and geotechnical analysis prior to any construction. • This shall be an Applicable Condition of Approval. 12.0 The design guidelines shall include Best Mafiagement Practices which minimize directly connected impervious areas -for storm water runoff within individual lots as part of e_f. st-final 0,0a/id-all subsequent plats. need to ident. B 's This condition does not apply to Phase 1 Improvements n Applicable Condition of Approval under this SIA. 13.0 Prior to the approval of any Final Plat, the Applicant shall submit to the Garfield County Vegetation Management Office a Noxious Weed / Revegetation Plan which shall include a noxious weed inventory of the area of the property covered by the plat. That Plan shall also include a specific planting schedule, along with the quantification of the acres or square footage of surface to be disturbed and revegetated needs to be developed. Additionally, the Plan shall include reclamation cost estimates for seeding, mulching and other factors that may aid in plant establishment as part of any final plat application and include revegetation security to hold until vegetation has been successfully reestablished according to the County's reclamation standards. Finally, this Plan shall include a Soil Management Plan to be developed for the project and submitted with any final plat application. • This shall be an Applicable Condition of Approval. 14.0 As part of all final plats, construction plans shall delineate all wetland areas and all wetland areas shall be clearly marked and fenced prior to construction. • This condition does not apply to Phase 1 Improvements because there are no jurisdictional wetlands affected by any Phase 1 improvement, and therefore shall not be an Applicable Condition of Approval under this SIA. This shall be an Applicable Cond . 4 of Approval for all subsequent phases. 15.0 As per Sect n 4:34 of the Subdivision Regulations, Preliminary Plan approval shall be vali. . r a p riod not to exceed one (1) year from date of Board approval, or con• ona .. • oval, unless on extension of not more than one year is granted b. . e Board prior to the expiration of the period of approval. • With the filing of the Final Plat for Phase 1, this condition shall be deemed satisfied. 16.0 / Schoo Site Acquisition Fees shall be paid at the time of final plat as per Section j 9:8 f the Garfield County Subdivision Regulations, as amended. /0( J ✓(�/� 24 s • Since no new lots are being created in Phase 1, this condition does not apply to Phase 1 Improvements and shall not be an Applicable Condition of Approval under this SIA. 17.0 The Homeowners Association or Metropolitan District as appropriate must hire at least a Class C operator to operate and maintain the proposed Ranch Lot ISDS systems prior to issuance of the first ISDS system permit. If proof of the employment of such a person is not provided to the Planning Department prior to the issuance of said ISDS permit, the Building Department shall not issue the ISDS permit or any subsequently requested ISDS permit. • This condition does not apply to Phase 1 Improvements because no Ranch Lots will be developed in Phase 1, and therefore shall not be an Applicable Condition of.Approval val under, this SIA. This condition will apply to Phases*, 3, 4 and A. / 18.0 Prior to the approval of the final plat of each phase, the Spring Valley Sanitation District shall certify that sufficient capacity is available to provide for the development in such phase. • Phase 1 does not include any structure that will require service from the Spring Valley Sanitation District. Therefore, this condition does not apply to Phase 1 Improvements and shall not be an Applicable Condition of Approval under this SL4. This condition will apply to all subsequent phases. 19.0 Owners of existing permitted or adjudicated water supplies in use for a single- family residence as of October 29, 2001 that are located on the properties that are contiguous to the boundaries of the Districts and therefore within the service area of the Districts, shall have the right to connect to the central potable water supply system of the Districts in accordance with the following conditions: • Phase 1 does not include the construction of the central potable water supply system. Therefore, this condition does not apply to Phase 1 Improvements and shall not be an Applicable Condition of Approval under this SIA. This condition will apply to all subsequent phases. 19.01 Each dwelling unit served by an existing permitted or adjudicated water supply shall be entitled to one tap for the provision of one EQR from the central potable water system; 19.02 Such owners shall be subject to the same rules, regulations, and policies as all other residential users on such systems; 19.03 Such owners shall be charged in -District fees, charges, and rates even though they are out of the Districts; 19.04 In the event that such an owner's permitted or adjudicated water supply becomes unable to produce the quantities required for permitted domestic water use, not due to the admitted or judicially determined negligence of the owner, such owner shall not be required to pay a tap fee or for a physical connection at the time of connection to the water supply system; 19.05 The main infrastructure and distribution systems for the water supply system have been installed and tested and operational; 19.06 Such owners may choose to connect to the water supply system at any time after the system is installed and operational and shall connect to such system on any appropriate primary distribution line and SVD shall use all reasonable efforts to locate such distribution lines in a manner that, to the extent feasible and practical, it will accommodate a connection by such owners; 19.07 Such owners, who connect under 19.06 above, shall be responsible for all costs associated with constructing and extending the necessary water lines to connect to the water supply system's primary distribution lines; 19.08 Such owners may keep their existing permitted or adjudicated water supply in operation, the water court decrees that will legally support such service must be issued in Case Nos. 98CW254 and 255 in Water Division No. 5; and 19.09 Such owners will be responsible for securing any necessary rights-of-way from their property to the district boundary and SVD or the District will provide the appropriate rights-of-way, within the District boundary. 20.0 With the exception of Lot P23 and OSR Parcel E, individual well development shall be prohibited for new development. • Lot P23 and OSR Parcel E are located in Phase 1. Therefore, individual well development shall be allowed on these parcels, but this is not an Applicable p Condition of Approval under this SIA. 1 7 2A 3 N n f t3 S,L l ,, 21.0 The Applicant shall work with the water district providing potable water service to the development to adopt a water usage rate structure that encourages conservation. V -/1 7i.' I0" "c Ir / o . ` 9 • This condition does not apply to Phase 1 Improvements and shall not be an Applicable Condition of Approval under this SIA. This condition will apply to all subsequent phases. 22.0 Well water usage for agricultural and golf course purposes shall be allowed to supplement surface water sources in the event of a shortage of surface water supplies. • This condition applies to Phase 1, but is not an Applicable Condition of Approval under this SIA. 23.0 Valid well permits must be obtained for all of the wells included in the water supply plan and copies submitted to the Planning Department prior to Final Plat approval. • This shall be an Applicable Condition of Approval. 24.0 Subject to the terms hereof, the Applicant shall provide a nonexclusive easement to allow for the conveyance of water piped from the BR Hopkins Spring located on Spring Valley Ranch PUDP.U.D. property to a point where the water from the BR Hopkins Spring is used on the LaGigilia property. The easement is not required to follow the historic pipeline corridor and it can be relocated to a preferred location mutually agreed to by the parties who have a right to the BR Hopkins Spring and any property owner whose property the new pipeline may cross. This easement to the BR Hopkins Spring shall be designed to allow access to the spring of an adequate width in order to perform improvements to and maintenance on the spring and any portion of a pipe conveying water. This easement shall be depicted on the final plat for review. Further, the Applicant shall be required to present the terms of the easement to the Planning Department for review at final plat and then subsequently recorded in the Office of the County Clerk and Recorder and cross referenced by reception #, book and page on the final plat. • This shall be an Applicable Condition of Approval. 25.0 All lots that require booster pumps shall be noted on any final plat and in the covenants. Unless otherwise required by the water district, all lots that require pressure reducing valves shall be noted on any final plat and in the covenants. • This condition does not apply to Phase 1 Improvements and shall not be an Applicable Condition of Approval under this SIA. This condition will apply to all subsequent phases as necessary. 27 26.0 Prior to the second final plat (Phase 2), the Applicant's engineer shall confirm that all nodes with residual pressure of less than 20 psi (pounds per square inch) will not affect the fire hydrants or individual residences. • This condition does not apply to Phase 1 Improvements and shall not be an Applicable Condition of Approval under this SIA. This condition will apply to Phase 2. 27.0 The covenants or bylaws for the development shall obligate the Homeowners Association to require the development's private security company to enforce the at -large dog and cat restrictions included in the covenants. • Inclusion of this provision in the CC&Rs shall be an Applicable Condition of Approval. This provision in the CC&Rs shall apply commencing with Phase 2. 28.0 The following plat notes will be included on any final plat: • Inclusion of these provisions on the Final Plat shall be an Applicable Condition of Approval. 28.01 All exterior lighting will be the minimum amount necessary and all exterior lighting will be directed inward and downward, towards the interior of the subdivision, except that provisions may be made to allow for safety lighting that goes beyond the property boundaries. 28.02 Colorado is a Right -to -Farm State pursuant to C.R.S. 35-3-101, et seq. Landowners, residents and visitors must be prepared to accept the activities, sights, sounds and smells of Garfield County's agricultural operations as a normal and necessary aspect of living in a County with a strong rural character and a healthy ranching sector. All must be prepared to encounter noises, odor, lights, mud, dust, smoke, chemicals, machinery on public roads, livestock on public roads, storage and disposal of manure, and the application by spraying or otherwise of chemical fertilizers, soil amendments, herbicides, and pesticides, any one or more of which may naturally occur as a part of a legal and non -negligent agricultural operations. 28.03 All owners of land, whether ranch or residence, have obligations under State law and County regulations with regard to the maintenance of fences and irrigation ditches, controlling weeds, keeping livestock and pets under control, using property in accordance with zoning, and other aspects of using and maintaining property. Residents and landowners are encouraged to learn about these rights and responsibilities and act as good neighbors and citizens of the County. A good introductory source for such 28 information is A Guide to Rural Living & Small Scale Agriculture put out by the Colorado State University Extension Office in Garfield County. 29.0 All construction for the Spring Valley Ranch PUDP.U.D. shall be in accordance with the International Fire Code. • This shall be an Applicable Condition of Approval, and is required by Section 3.5 of the Master Declaration of Covenants, Conditions and Restrictions for Spring Valley Ranch. 30.0 The Applicant shall address the comments prepared by Mountain Cross Engineering on behalf of the County in the following manner: 30.01 Mountain Cross Engineering ("MCE") comments 1 to 13 and 15, except for 3 and 7, pertain to final plat conditions that will be fulfilled at the filing of each phase. With regard to comment 3, the community water system will be approved, permitted and operated pursuant to CDPHE regulations that will assure adequate water quality. • Generally, this shall be an Applicable Condition of Approval. Specifically, each comment from MCE is addressed below: o MCE Comment 1: The range of water pressures that are anticipated for the subdivision may require individual residences have either booster pumps or pressure reducing valves. The lots to be affected by these pressures should he identified either on the Final Plat or within the Conditions, Covenants, and Restrictions (CCRs). • This condition does not apply to Phase 1 Improvements and shall not be an Applicable Condition of Approval under this SIA. This condition will apply to Phase 2. o MCE Comment 2: There appears to be an adequate legal and physical water supply. The proposed water system will require approval from the State of Colorado prior to construction and prior to Final Plat. • This condition does not apply to Phase 1 Improvements and shall not be an Applicable Condition of Approval under this SIA. This condition will apply to Phase 2. o MCE Comment 4: Notice of Intent to impound water should be filled out for non jurisdictional dams. Jurisdictional dams will require approval from the State of Colorado prior to construction and prior to Final Plat. 29 • This condition does not apply to Phase 1 Improvements and shall not be an Applicable Condition of Approval under this SL4. o MCE Comment 5: The road standards propose that engineered pavement sections are to be used. Recommended pavement section should be incorporated into the plans at Final Plat. • This shall be an Applicable Condition of Approval. The engineered pavement section is provided in the pavement section design report prepared by CTL Thompson and included with the Final Plat application. The engineered pavement section is incorporated into the design of the road section which is included with the Final Construction Plans prepared by Gamba & Associates, Inc. and submitted with the Final Plat application. o MCE Comment 6: The Geotechnical Report recommends that site specific individual soils reports are prepared for building construction. This should be required and incorporated into the CC&Rs or on the Plat. • This shall be an Applicable Condition of Approval. This condition is stated on the Final Plat. o MCE Comment 8: The Applicant proposes individual onsite detention ponds for the residential lots within Watersheds I and K. Construction specifications and details for this construction need to be included within the CC&Rs and a note included on the plat for the affected lots. • This condition does not apply to Phase 1 Improvements and shall not be an Applicable Condition of Approval under this SL4. Watershed 1 applies to Phase 9. Watershed K applies to Phase 8. o MCE Comment 9: The site will disturb more than one acre and will require a discharge permit for construction activities from the State. • This shall be an Applicable Condition of Approval. Prior to commencement of construction activities, a SWMP will be prepared and submitted in accordance with CDPHE rules and regulations. o MCE Comment 10: The project may require an air pollution permit for construction activities from the State. • This shall be an Applicable Condition of Approval. Prior to commencement of construction activities, an air pollution permit 30 will be obtained in accordance with applicable rules and regulations. Comment 11: Engineered ISTS systems are proposed for the Moun . in Lots. Affected lots should be identified within the CC&Rs jdone] d a note included on the Final Plat. • This condition does not apply to Phase 1 Improvements and shall not be an Applicable Condition of Approval under this SIA. o MCE Comment 12: The proposed road design standards generated no comments. • This condition does not apply to Phase 1 Improvements and shall not be an Applicable Condition of Approval under this SIA. o MCE Comment 13: The Board of County Commissioners will need to approve the cul-de-sacs that are longer than 600'. Increased lengths due to topographical constraints are justified. • This condition does not apply to Phase 1 Improvements and shall not be an Applicable Condition of Approval under this SIA. o MCE Comment 15: Guardrail will need to be provided throughout the project. Details and warranted locations should be determined by the Applicant. • This shall be an Applicable Condition of Approval. However, according to applicable engineering standards, guardrail is not warranted within Phase 1 improvements. 30.02 With regard to Comment 18, Applicant will study the need for additional mainline PRV's in the final design, and shall include a note on the final plat as necessary on all lots in that phase requiring an individual PRV. • This condition does not apply to Phase 1 Improvements and shall not be an Applicable Condition of Approval under this SIA. 30.03 With regard to Comment 19, Applicant will grade and maintain an unpaved access concurrently with the installation of the off-road water lines, which will be depicted on the final design drawings. An appropriate easement will be shown on the final plat. These accesses will be used for construction and ongoing operations. Winter maintenance and repair will require track -equipment. 31 • This condition does not apply to Phase 1 Improvements and shall not be an Applicable Condition of Approval under this SIA. 30.04 With regard to Comment 20, the access roads to both water storage tanks will be depicted on the final design drawings. Appropriate easements will be shown on the final plat. • This condition does not apply to Phase 1 Improvements and shall not be an Applicable Condition of Approval under this SIA. 30.05 With regard to Comment 21, Applicant's final engineering and construction drawings will provide for a foundation that protects the Tank's structural fill and foundation from erosion. • This condition does not apply to Phase 1 Improvements and shall not be an Applicable Condition of Approval under this SIA. 30.06 With regard to Comment 22, Applicant will provide for a cleanout of the low-pressure main sewer line in its final engineering and construction drawings for the sewer system. • This condition does not apply to Phase 1 Improvements and shall not be an Applicable Condition of Approval under this SIA. 30.07 With regard to Comment 23, in conjunction with final design the Applicant will address of any byproducts generated by the MIOX disinfection system, including any state and federal requirements. • This condition does not apply to Phase 1 Improvements and shall not be an Applicable Condition of Approval under this SIA. 31.0 Prior to final plat, the Applicant shall meet the requirements set forth in the Spring Valley Sanitation District's "Will Serve" letter dated August 4, 2006, regarding the Spring Valley Ranch Project, which is included in Binder 3 Appendix H of the Application. • This condition does not apply to Phase 1 Improvements and shall not be an Applicable Condition of Approval under this SIA. This condition will apply to all subsequent phases. 32 EXHIBIT B Improvements Spring Valley Ranch PUDP.U.D. - Phase 1 Final Construction Plans: Sheet 1: Road Plan & Profile Sheet 2: Sanitary Sewer Plan & Profile Sheet 3: Water System Plan & Profile Sheet 4: Drainage Plan & Profiles Sheet 5: Sanitary Sewer Details Sheet 6: Road & Water Details Sheet 7: Drainage Details EXHIBIT C Estimate of Cost of Completion of Improvements Sys. Item # Construction Item Units Estimated Quantities Estimated Unit Price Estimated Construction Costs Site Prep. SP -2 Remove existing fence LF 62 $15.00 $930.00 SP -3 Traffic control LS 1 $7,500.00 $7,500.00 Subtotal of Site Preparation Items $8,430.00 Road & Driveways RD -1 Clear & grub ACRE 1.72 $3,900.00 $6,708.00 RD -2 Compacted fill of on-site excavation CY 662 $4.95 $3,276.90 RD -3 Excavate & off-site disposal of excess cut material CY 1,823 $8.00 $14,584.00 RD -4 Excavate & disposal of excess rock material CY 655 $10.20 $6,681.00 RD -5 Rock blasting CY 655 $30.15 $19,748.25 RD -6 Scarify & recompact insitu soil SY 2,676 $1.80 $4,816.80 RD -7 Install road aggregate base course TONS 968 $22.00 $21,296.00 RD 8 Install hot bituminous pavement TONS 425 $80.00 $34,000.00 RD -9 Revegetate with native shrubs & grasses SY 5,636 $0.75 $4,227.00 RD -10 Install traffic signs EA 2 $275.00 $550.00 RD 11 Install gate near entrance to Highgrange Pass EA 1 $8,000.00 $8,000.00 RD -12 New fence construction EA 50 $10.00 $500.00 Subtotal of Road & Driveways $124,387.95 Sewer System SS -1 8" SDR -35 PVC gravity sewer pipe LF 731 $40.00 $29,240.00 SS -2 Install 48" dia. gravity sewer manhole EA 4 $2,900.00 $11,600.00 SS -3 Cap end of 8" sewer pipe EA 2 $200.00 $400.00 SS -4 4" SDR -35 PVC gravity sewer service lines with tap on main LF 18 $50.00 $900.00 Subtotal of Sewer System $42,140.00 Water System WS -1 12" DIP potable water pipe LF 731 $65.00 $47,515.00 WS -2 Air -Vacuum Vault for future valve EA 1 $2,000.00 $2,000.00 WS -3 Install tee & valve for future hydrant EA 1 $2,100.00 $2,100.00 WS -4 2" water service lines with curbstop LF 25 $25.00 $625.00 Subtotal of Water System $52,240.00 ,e w co Cn 6- `° D-1 12" ADS -N12 Culvert LF 44 $28.00 $1,232.00 D-2 18" ADS -N12 Culvert LF 54 $35.00 $1,890.00 34 Sys. Item # Construction Item Units Estimated Quantities Estimated Unit Price Estimated Construction Costs D-3 48" x 48" Double V-Weir Inlet Structure EA 2 $3,500.00 $7,000.00 D-4 12" Flared End Section EA 1 $500.00 $500.00 D-5 18" Flared End Section EA 1 $700.00 $700.00 Subtotal of Storm Sewer & Drainage System $11,322.00 Z 0 ER-1 Install silt fence LF 360 $1.35 $486.00 ER-2 Install hay bale dikes EA 4 $120.00 $480.00 ER-3 entralncenstruction EA 1 $1,800.00 $1,800.00 ER-4 Install temporary culvert outfall & slope protection EA 2 $300.00 $600.00 Subtotal of Storm Water Management & Erosion Protection Plan $3,366.00 Total of Estimated Construction Items $241,885.95 M-1 Miscellaneous & Contingency 10.00% $24,188.60 Total Estimated Construction Costs $266 074.55 35 EXHIBIT D Form of Letter of Credit JRREVOCABLE STANDBY LETTER OF CREDIT { Field Code Reference #: Amount: Date of Issue: Expiration Date: BENEFICIARY: Board of County Commissioners of Garfield County ("Beneficiary" or "BOCC") 108 8th Street, Suite 213 Glenwood Springs, CO 81601 ACCOUNT PARTY/Applicant: Establishment/Face Amount/Purpose/Expiration Date/Transferability We hereby establish/issue/open, at the request of the Applicant/Account Party, Irrevocable Standby Letter of Credit No. in an amount not to exceed Two Hundred Sixty Six- Thousand Seventy Four dollars and 55 cents ($266,074.55). The purpose of this letter is to secure the Applicant/Account Party's performance of and compliance with the agreement between Applicant/Account Party and Beneficiary, dated and titled Subdivision Improvements Agreement, Phase I Spring Valley Ranch Subdivision, Located within the Spring Valley Ranch P.U.D. ("Subdivision Improvements Agreement"). This Letter of Credit expires at Bank, at p.m. Central Standard Time on , 200_. This letter is not transferable. Partial Releases Partial draws are permitted. The BOCC may authorize periodic reductions in the face amount of this Letter of Credit [If Bank requires Reduction Certificates: and, if so authorized, the revised face amount of the Letter of Credit shall be evidenced by a separate Reduction Certificate, approved and executed by the BOCC or the BOCC's authorized representative], stating the amount of reduction therein. Conditions for Payment to Beneficiary Drafts submitted by Beneficiary must be accompanied by the following documents: 1. Beneficiary's signed statement executed by the Chairman of the BOCC or the BOCC's authorized designee stating: Spring Valley Holdings, LLC, developer of P.U.D. is in default of its obligations set forth in that certain Subdivision Improvements Agreement between Spring Valley Holdings, LLC and the BOCC, dated , and recorded as Reception Number of the Real Estate Records of the Office of the Garfield County Clerk and Recorder. 2. The original Letter of Credit, endorsed on the reverse side with the words: "Drawn by the Board of County Commissioners of Garfield County, Colorado in the amount of Two Hundred Sixty Six- Thousand Seventy Four dollars and 55 cents ($266,074.55)," manually signed by the Chairman or the BOCC's authorized representative. Cancellation This Letter of Credit and amendments, if any, must be returned to us for cancellation with a statement signed by the Beneficiary stating: "This Letter of Credit is no longer required by the BOCC and is hereby returned to the issuing bank for cancellation." Issuer's Undertaking We hereby agree to honor each draft drawn under and in compliance with the terms of this Letter of Credit if presented, together with the documents above specified, to (name) Bank, (street address) (city/town) , Colorado, on or before the date of expiration identified above. This letter is issued subject to the Uniform Customs and Practices for Documentary Credit (2007 Revision), International Chamber of Commerce Publication Number 600 and the Uniform Commercial Code at C.R.S., §4-1-101 et seq., as amended. By Name Title Bank THIS IS A FORM DOCUMENT. BANKS USE DIFFERENT FORMATS AND DIFFERENT TERMS TO IDENTIFY ISSUER, APPLICANT AND BENEFICIARY. ASK YOUR BANK TO ADDRESS THE MATTERS IDENTIFIED ABOVE: Establishment, Face Amount, Purpose, Expiration Date, Transferability, Partial /Single Releases, Conditions for Payment to Beneficiary, Cancellation, Issuer's Undertaking AND TO SPECIFY WHETHER OR NOT PARTIAL RELEASES OF THE LETTER OF CREDIT, IF ALLOWED, REQUIRE THE USE OF REDUCTION CERTIFICATES. LETTERS OF CREDIT ARE HELD IN THE CUSTODY OF THE GARFIELD COUNTY TREASURER. ADDRESS QUESTIONS RELATED TO PARTIAL OR FULL RELEASE, HOWEVER, TO THE BUILDING AND PLANNING DEPARTMENT. 37 EXHIBIT E Form Written Request for Partial Release of Letter of Credit Board of County Commissioners Garfield County, Colorado c/o Planning Director 108 Eighth Street, Room 201 Glenwood Springs, CO 81601 RE: Spring Valley Ranch PUDP.U.D. This request is written to formally notify the BOCC of work completed for Spring Valley Ranch PUDP.U.D.. As Owner, we request that the BOCC review the attached Engineer's Certificate of Partial Completion and approve a reduction in the face amount of the Letter of Credit in the amount of Two Hundred Sixty Six- Thousand Seventy Four dollars and 55 cents ($266,074.55), to a reduced face amount of $ Attached is the certified original cost estimate and work completed schedule, showing: Engineers Cost Estimate Work Completed, less 10% Reduced Face Amount of LOC Based on periodic observation and testing, the construction has been completed, to date, in accordance with the intent of the plans and specifications that were reviewed and approved by the BOCC's representatives and referenced in Paragraph 2 of the Subdivision Improvements Agreement between the BOCC and the Owner. If further information is needed, please contact , at Owner or Owner's Representative/Engineer 38 EXHIBIT F Form Written Request for Final Release of Letter of Credit Board of County Commissioners Garfield County, Colorado c/o Planning Director 108 Eighth Street, Room 201 Glenwood Springs, CO 81601 RE: Spring Valley Ranch PUDP.U.D. This request is written to formally notify the BOCC of work completed for Spring Valley Ranch PUDP.U.D.. As Owner, we request that the BOCC review the attached Engineer's Certificate of Final Completion and approve a cancellation of the Letter of Credit, except for that portion relating to revegetation. Attached is the certified original cost estimate and work completed schedule, showing: Engineers Cost Estimate, less revegetation $261,847.55 Work Completed 100% Based on periodic observation and testing, the construction has been completed in accordance with the intent of the plans and specifications that were reviewed and approved by the BOCC's representatives and referenced in Paragraph 2 of the Subdivision Improvements Agreement between the BOCC and the Owner. If further information is needed, please contact , at Owner or Owner's Representative/Engineer 39 EXHIBIT G Form Written Request for Release of the Revegetation LOC Board of County Commissioners Garfield County, Colorado c/o Planning Director 108 Eighth Street, Room 201 Glenwood Springs, CO 81601 RE: Spring Valley Ranch PUDP.U.D. This request is written to formally notify the BOCC of work completed for Spring Valley Ranch PUDP.U.D.. As Owner, we request that the BOCC review the attached Engineer's Certificate of Final Completion and approve a cancellation of all of the Letter of Credit including specifically that portion related to revegetation. Attached is the certified original cost estimate and work completed schedule, showing: Engineers Cost Estimate Work Completed $4,227.00 100% Based on periodic observation and testing, the construction has been completed in accordance with the intent of the plans and specifications that were reviewed and approved by the BOCC's representatives and referenced in Paragraph 2 of the Subdivision Improvements Agreement between the BOCC and the Owner. We request that within ten (10) days following submission of this Owner's Written Request for Final Release of LOC, you return the Letter of Credit and amendments, if any, to the issuer for cancellation by Applicant/Account party with a statement signed by you stating: "This Letter of Credit is no longer required by the BOCC and is hereby returned to the issuing bank for cancellation." If further information is needed, please contact , at Owner or Owner's Representative/Engineer 40