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HomeMy WebLinkAbout05.0 SIA 09.07.1982Recorder. 5: a2 o'clock P F71: N O V 1 19_ 62 Reception No. MILDRED ALSDORF, RECORDS/ SUBDIVISION 1' •.7EPIELTIS A er Di. ID TT ittek 6.13 THIS AGREEMENT, :rade and entered into this day of SePteMber, 1982 between WESTBANK RANCH NO. 1, LTD., hereinafter referred to as "Westbank", and BOARD OF COUNTY COMMISSIONERS OF GARFIELD COUNTY, COLORADO, hereinafter referred to as the "County", WITNESSETH: WHEREAS, Westbank is the owner of certain real property located in Garfield County, Colorado, more particularly described on Exhibit "A" attached hereto and incorporated herein by this reference, which real property is now known as "Westhank Ranch P.U.D. Filing No. 4", hereinafter referred to as the "PUD"; and WHEREAS, as a condition of approval of the final plat (hereinafter referred to as the "Plat") for the PUD, Westbank wishes to enter into this Subdivision Improvements Agreement (hereinafter referred to as "Agreement") with the County; and WHEREAS, the County has required and Westbank has agreed to provide security or collateral sufficient in the judgment of the County to make reasonable provision for completion of certain public improvements as set forth on it "B" attached hereto and incorporated herein by this reference; and Wim, Westbank has agreed to execute and deliver a letter of credit to the County to secure and guarantee its performance of this Agreement and has agreed to certain restrictions regarding the issuance of building permits and certificates of occupancy within the subdivision, all as more fully set forth hereinafter; NOW, THEREFORE, for and in consideration of the premises and the following mutual covenants and agreements, the parties hereby agree as follows: 1. Westbank's Performance. On or before November 1, 1984, Westbank agrees to construct and install, or to cause to be constructed and installed, at its sole expense, those public improvements set forth as items 1. through 17. on Exhibit "B" attached hereto. Westbank agrees that all of the public improvements to be completed as identified on Exhibit "B" attached hereto shall be constructed in compliance with the following: (a) All final plat documents submitted prior to or at the time of final plat approval. (b) All laws of the United States, State of Colorado, and its various agencies, affected special districts, and/or servicing authorities. (c) Such other designs, drawings, maps, specifications, sketches and other matter submitted to and approved by any of the above stated governmental entities. The county agrees that provided such improvements are installed in accordance with this paragraph 1., then Westbank shall be defined to have satisfied all terms and conditions of the zoning and subdivision laws, resolutions and regulations of RECEIVED JAN 27198g • • BOOK 613 ncE S98 Garfield County, Colorado including but not limited to Resolution No. 81-333 adopted by the County on October 26, 1981 and Resolution No. 81-146 adopted by the County on May 12, 1981. 2. Cost of Improvements. It is understood for purposes of this agreement that the cost of all of said public improvements is $1,260,513 ("Total Construction Costs" less items 18. and 19. on Exhibit "B") based upon the engineering cost estimates set forth on Exhibit "B", which amount the County finds reasonable and hereby approves and accepts. Westbank shall provide, on request of County, written confirmation of such estimates by Westbank's engineering consultants and the public utilities furnishing such improvements. 3. Security for Improvements. On or before July 1, 1983, Westbank shall deliver a letter of credit issued by a state or national banking institution or other reputable lending agency in a form acceptable to the County, which acceptance shall not be unreasonably withheld. The amount of said letter of credit shall be equal to the "Total Construction Costs" of $1,302,513, comprising the engineered cost estimates together with provision for the bridge fund and school fund, all as provided on Exhibit "B". In the event Westbank fails to deliver said letter of credit by July 1, 1983, then the Plat may be vacated by the County and in such event all approvals of :the PUD by the County shall be deemed to have been withdrawn and rendered null and void by such vacation and all parties shall be released from any further obligation hereunder. Contemporaneously with the execution of this Agreement, Westbank has delivered its written consent to said vacation in the event an acceptable letter of credit is not delivered within the time provided; and this consent is binding upon its successors and assigns. Upon Westbank delivering to the County said letter of credit, Westbank shall be entitled to sell arra convey lots within the PUD and to obtain building permits for the construction of improvements on the lots within the PUD. Upon delivery to the County of said letter of credit, the County shall issue written approval in a form recordable in the office of the Recorder of Garfield County, Colorado, stating that said letter of credit has been provided pursuant to this Agreement and that lots may be sold and conveyed and that building permits may be issued on such lots. However, the County shall not be required to issue certificates of occupancy for any buildings constructed within the PUD until such time as all improvements have been accepted by the County, which acceptance shall not be unreasonably withheld, provided that in the event weather or other factors beyond the reasonable control of Westbank delay the installation of sidewalk, curb and gutter or surface paving, such delay shall not prevent the issuance of certificates of occupancy so long as the letter of credit remains in full force and effect. Upon receipt from Westbank of its certification that the public improvements set forth on Exhibit "B" have been completed and paid for, the County shall return to Westbank the letter of credit marked "satisfied in full" and shall acknowledge that all improvements have been completed in a satisfactory manner aril shall otherwise release the aforesaid letter of credit, in recordable form if requested by Westbank. 2 • . 5n1g G.13 P E899 4. Notice of Deficiencies. If the County determines that the improvements within any phase are not constructed in substantial compliance with the specifications therefor, it shall furnish a written list of specific deficiencies to Westbank. If the deficiencies have not been corrected, or if satisfactory arangements have not been made to correct such deficiencies, within thirty (30) days after the list is furnished, the County may draw on the letter of credit such funds as may be necessary to complete the construction of the improvements in accordance with such specifications. 5. Substitution of Collateral. The County may, at its option, permit Westbank to substitute other collateral acceptable to the County for the collateral originally given by Westbank to secure the completion of improvements as hereinabove provided. 6. Improvement Sequence. Paving of the street improvements required to be fileted by Westbank shall not be done until all utilities lines to be placed in or under the streets have been completely installed. 7. Bridge and School Funds. In addition to the construction and installation of the public improvements set forth on Ekhibit "B", Westbank agrees to pay County the sum of $30,000.00 for the county road and bridge fund for application toward the improvement of the Hardwick Bridge, and the sum of $12,000.00 for the local school district fund, at such time as all of the public improvements set forth on Exhibit "B" have been completed or on November 1, 1984, whichever shall first occur. Said sums have been included within the total cost of the "final construction breakdown" set forth on Exhibit "B"; and the County shall be entitled to draw on the letter of credit upon the terms and conditions set forth in paragraph 4. above if Westh nk fails to pay said sums as herein provided. 8. Enforcement. In addition to any rights which may be provided by Colorado statute, it is mutually agreed that the County or any purchaser of a lot or unit within the PUD shall have the authority to bring an action in the District Court of Garfield County, Colorado, to compel the enforcement of this Agreement. Such authority shall include the right to compel rescission of any sale, conveyance, or transfer of any lot or unit contrary to the provisions of this Agreement, or as set forth on the Plat of the PUD, or in any separate re- corded instrument. Any such action shall be commenced prior to the issuance of a building permit by the County for such lot or unit; and in the event no such action is so commenced, then the County and any purchaser shall be deemed to have waived their rights and authority herein provided. 9. Approval of Plat. The County agrees to approval of the Plat subject to the terms and conditions of this Agreement. 3 • . ?,l9( 613 ;,,GE900 10. Amendment. This Agreement may be amended fun time to time, provided that such amendment be in writing signed by the parties hereto. 11. Binding effect. This Agreement shall be a covenant running with the title to each lot or unit within the PUD and the rights and obligations as contained herein shall be binding upon and inure to the benefit of Westbank, its successors and assigns. WFSTBANK RANCH N0. 1, LTD. By: W9S ank Development Co., Inc. ATTEST: Huebinger, President 6 COUNTY OF GARFIELD, STATE OF CO Chairman, Board o of Garfield Count A'1'1'1ST : C/2 Secreta unty Ccnmi.ssioners atel/4- - EXHIBIT "A" TO SUBDIVISION IMPROVEMENTS AGREEMENT WESTBANK RANCH P.U.D. FILING NO. 4 Garfield County, Colorado BOUNDARY DESCRIPTION: BooK 613 ? CE9O1_ A parcel of land situated in Lot 15 of Section 35, Township 6 South, Range 89 West of the Sixth Principal Meridian, Lots 13,14,15,24 and 25 of Section 1, and Lots 5,8,9,10,11,12,13,14,15,16,18,19,20,21 and 22 of Section 2, Township 7 South, Range 89 West of the Sixth Principal Meridian, all in Garfield County, Colorado, lying Southerly of Westbank Ranch Planned Development Subdivision Filing No. 1 and Westbank Ranch Subdivision Filing No. 2 and No. 3, as amended, all as filed in the Garfield County, Colorado records, and Westerly of a line in said Section 1 partly described by Book 416 of Page 336 as filed in the Garfield County, Colorado records, said parcel of land is more fully described as follows: Beginning at the Northwest Corner of Lot 5 in said Section 2, whence the Northwest Corner of said Section 2 bears: N.89144139"W. 610.49 feet; thence N.11'24148"E. 158.75 feet to the Southwest Corner of said Westbank Ranch Filing No. 1; thence, along the Southerly boundary lines of said Westbank Ranch Filings No. 1, No. 2, and No. 3, N.77'39'00"E. 112.73 feet; thence N.63'09'52"E. 159.87 feet; thence S.35'32'48"E. 210.99 feet; thence S.31'43'00"W. 75.00 feet; thence S.69'27'00"E. 130.00 feet; thence S.28'57'00"W. 160.00 feet; thence N.86'03'00"E. 190.00 feet; thence S.45'23'00"E. 130.00 feet; thence S.05'23'20"W. 300.15 feet; thence S.61'18'14"E. 231.81 feet; thence S.28'07'00"E. 160.00 feet; thence N.60'30'00"E. 78.00 feet; thence S.37'06'OO"E. 55.45 feet; thence S.79'17'00"E. 492.88 feet; thence S.64'37'00"E. 336.67 feet; thence S.69'29'00"E. 390.82 feet; thence S.81'03'00"E. 358.60 feet; thence N.89'22'00"E. 342.78 feet; thence S.78'00'00"E. 349.80 feet; thence N.87'02'00"E. 374.60 feet; thence S.88'23'00"E. 626.00 feet; thence S.76'37'00"E. 39.95 feet; thence S.50'31'33"E. 298.72 feet; thence N.61'40'41"E. 339.92 feet; thence 5.501'00'00"E. 25.74 feet; thence 303.16 feet along the arc of a curve to the left, having a radius of 329.13 feet, the chord of which bears: S.76'23'15"E. 292.56 feet; thence 65.26 feet along the arc of a curve to the right, having a radius of 45.00 feet, the chord of which bears: S.61'13'45"E. 59.69 feet to a point on the said described line in said Section 1, whence the Northwest Corner of said Section 1 bears: N.20'00'40"W. 1523.72 feet; thence, leaving said Westbank Ranch filings, along the said described line, S.19'41'00"E. 196.35 feet; thence 5.34'08'00"E. 283.00 feet; thence S.52'22'00"E. 706.00 feet; thence S.32'58'00"E. 582.60 feet; thence S.44'29'00"E. 549.27 feet (record 406.0), more or less to a point on the East line of Lot 24 in said Section 1; thence, leaving the said described line, S.01'18'00"E. 252.92 feet, more or less, to the Southeast Corner of Lot 24 in said Section 1; thence S.89'37'46"W. 1965.07 feet to the Southwest Corner of Lot 25 in said Section 1; thence S.00'48'12"E. 843.20 feet to the Southeast Corner of said Section 2; thence N.89'21'20"W. 2606.36 feet to the South Quarter Corner of said Section 2; thence N.01°04'18"W. 2139.78 feet to the Southeast Corner of Lot 16 in said Section 2; (whence the Center of said Section 2 bears: N.01'04'18"W. 465.01 feet); thence S.89'57'32"W. 745.65 feet to the Southwest Corner of Lot 16 in said Section 2; thence N.00'03'32"E. 468.68 feet to the Northwest Corner of Lot 16 in said Section 2; thence N.89'45'00"W. 606.04 feet to the Southwest Corner of Lot 8 in said Section 2; thence N.00'02'31"W. 858.00 feet to the Northwest Corner of Lot 8 in said Section 2; thence S.89'47'29"W. 722.54 feet to the Southwest Corner of Lot 5 in said Section 2; thence N.01'17'1l"E. 797.35 feet to the Northwest Corner of Lot 5 in said Section 2, the POINT OF BEGINNING, containing 285.08 acres, more or less. EXHIBIT "A" TO SUBDIVISION IMPROVEMENTS AGREEMENT EXHIBIT "B" TO SUBDIVISION IMPROVEMENTS AGREEMENT BOOK 613 P4c€9O2 WESTBANK FILING #4 Final Construction Breakdown 1. 5640' 6" PVC water @ $10.70/ft. 2. 1500' 8" PVC water @ $11.50/ft. 3. 9 fire hydrants @ $12.00 ea. 4. 100,000 gal. water tank 5. 11,108' 8" PVC sewer @ $13.45/ft. 6. 58 man holes @ $919.00 ea. 7. Culverts (lump sum) 8. 135,000 c.y. @ $2.05/cy 9. 105,000/c.y. @ $1.70/cy 10. 240,000 c.y. compaction @ $.25/cy 11. 750' guard rail @ $10.00/1.f. 12. 8,500' 3/4" road base @ $3.81/lf. 13. 8,500' chip & seal @ $3.46/lf 14. Revegatation 15. Sewer plant 16. Raise Public Service line 17. Holy Cross Underground incl. existing burial 18. Bridge fund 19. School fund (in lieu of land) Total Construction Costs • EXHIBIT "B" TO SUBDIVISION IMPROVEMENTS AGREEMENT $60,348.00 17,250.00 10,800.00 50,000.00 149,402.00 53,302.00 35,491.00 276,750.00 178,500.00 60,000.00 7,500.00 32,397.00 29,378.00 33,500.00 100,000.00 41,155.00 124,740.00 30,000.00 12,000.00 $1,302,513.00 • • CONSENT TO VACATION OF PLAT Westtank Ranch No. 1, Ltd., as the owner of certain real property located in Garfield County, Colorado and more particularly described in Exhibit "A" attached hereto and incorporated herein by this reference, and pursuant to the Subdivision Improvements Agreement dated September 1982, between Westbank Ranch No. 1, Ltd., and the Board of County Commissioners of Garfield County, Colorado, which Agreement provides inter alia that if a letter of credit issued by a state or national banking institution or other reputable lending agency for the construction of subdivision improvements in a form acceptable to Garfield County has not been delivered on or before July 1, 1983, the subdivision plat of the Westbank Ranch Planned Unit Development may be vacated in its entirety, by this instrument delivered to the County of Garfield, hereby consents to the filing of such instruments of vacation that the County may deem proper or advisable upon the failure of said condition. Dated this 17 day of September, 1982. WEESTBANK RANCH NO. 1, LTD. By: Westbank Development Co . , Inc. COUNTY OF GARFIELD, STATE OF COLORADO Chairman, Board of lounty Commissioners of Garfield Count ATTEST: Skrre2ry