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HomeMy WebLinkAbout1.02 Supplmental Materials50% OF ROAD IMPACT FEES FOR 32 LOTS OF For reference when entering into NWS Gcirreld County REVENUE DEPOSIT FORM TRAFFIC STUDY AREA (AKA ROAD IMPACT FEES) YEAR 2016 REVENUE CASH & CHECKS REVENUE CODE TSA 1 TSA 10 TSA 11 TSA 2 TSA 3 TSA 4 TSA 6 TSA 8C TSA 8D TSA 8E REVENUE CODE DESCRIPTION STUDY AREA #1 TSA 8F TSA 8G TSA 9 BANK ACCT STUDY AREA #10 STUDY AREA #11 STUDY AREA #2 STUDY AREA #3 STUDY AREA #4 STUDY AREA #6 STUDY AREA #8C STUDY AREA #8D STUDY AREA #8E STUDY AREA #8F STUDY AREA #8G STUDY AREA #9 CHECKS: $ 29,858.40 RECEIVED FROM: NEW WORLD SYSTEMS ACCT # Fund Dept Sub Dept 128 28 161 128 28 170 Acct # $ Amount 3400 128 128 128 28 28 28 171 162 163 128 28 164 128 28 166 3400 3400 3400 3400 $29,858.40 3400 CASH: $ 128 128 128 128 128 128 28 28 28 28 28 28 168 168 168 168 168 169 3400 3400.800 3400.804 3400.808 3400.812 3400.816 3400 29,858.40 BECKY WHEELERSBURG DATE: SEPTEMBER 20, 2016 PINYON MESA FILING 2 PMGC 2, LLC 6300 RIDGLEA PLACE # 900 FORT WORTH, TEXAS 76116 PAY TO THE ORDER OF Ataao Southwest, IIID Sank D Www soulhwa5lbank cbm FOR 5070 koact 1 mento e 1004 &41131frYj5t) '37-75/1119 G I$2611858, 0 DOLLARS , i ,134 Receipt2016-09-20-LC-5467 Product 3 Name Miscellaneous Receipts TDA MR Joumal Account Name 2952-1010-000 CASH ACCOUNT 2952-3400-000 MISC REV NO FEE 3 Miscellaneous Receipts TREAS M1SC FEE Journal Account Name 0100-1010-000 CASH ACCOUNT 0100-3420-000 TREASURER'S MISC FEE Garfield County Treasurer 109 8th Street Suite 204 Glenwood Springs CO 81601 PH: (970) 945-6382 Extended $12,500.00 Reference TDA PINYON MESA GC 2, LLC Debits Credits $12,500.00 ($12,500.00) $125.00 Reference TDA PINYON MESA GC 2 LLC Debits Credits $125.00 (5125.00) Total 512,625.00 Tender (Check) 512,500.00 Check # 1003 Payor PINYON MESA GC 2. LLC Tender (Check) 5125.00 Check # 1006 Payor PINYON MESA GC 2 LLC Thank You 1 TueSep 2010:43:10 MDT20161colller 1111 FritY.PI041.1IIi igliNViihtIuIN 11111 Reception#: 716948 02108/2007 04 38.23 PM B:1893 P:0363 Jean Plberico 1 of 6 Fec Fee $0.00 Doc Fee: GGRFIELD COUNTY CO STATE OF COLORADO )ss County of Garfield At a regular meeting of the Board of County Commissioners for Garfield County, Colorado. held in the Commissioners' Meeting Room, Garfield County Plaza Building, in Glenwood Springs on Monday, December 11, 2006, there were present: John Martin Larry McCown Tresi Houpt Don DeFord Mildred Alsdorf Ed Green Commissioner Chairman , Commissioner , Commissioner , County Attorney , Clerk of the Board , County Manager when the following proceedings, among others were had and done, to -wit: RESOLUTION NO. 2 0 07 - 0 4 A RESOLUTION CONCERNED WITH THE APPROVAL OF A PRELIMINARY PLAN APPLICATION FOR THE PINYON MESA SUBDIVISION IN PHASE 3 OF THE LOS AMIGOS RANCH PLANNED UNIT DEVELOPMENT WHEREAS, the Board of County Commissioners of Garfield County, Colorado, received a Preliminary Plan Application from Pinyon Mesa Development, LLC to subdivide a 60.49 -acre property (also known as Phase 3 of the Los Amigos Ranch PUD) in to 80 high-density single family residential lots and which property is generally located in lower Spring Valley, approximately 1 mile east of the Highway 82 / CR 114 intersection in the N I/2 of Sections 7 and 8, Township 7 South, Range 88 West of the Sixth P.M., Garfield County; and WHEREAS, the subject property is located in the High Density Single Family Zone District within Phase 3 of the Los Amigos Ranch Planned Unit Development (PUD); and WHEREAS, on October 11, 2006, the Garfield County Planning and Zoning Commission forwarded a recommendation of approval with conditions to the Board of County Commissioners for the Preliminary Plan; and WHEREAS, on December 11, 2006, the Board of County Commissioners opened a public hearing upon the question of whether the Preliminary Plan should be granted, granted with conditions, or denied at which hearing the public and interested persons were given the opportunity to express their opinions regarding the issuance of said Preliminary Plan; and 1 11111 in MK*.PitIliii,l01+1Clill NMI Alli Reception#: 716948 02/08/2007 04:38 23 PM 8:1893 P.0364 Jean Plberico 2 of 6 Rec Fee:$0.00 Doc Fee GfRFIELD COUNTY CO WHEREAS, the Board of County Commissioners dosed the public hearing on the December 11, 2006 to make a final decision; and WHEREAS, the Board of County Commissioners on the basis of substantial competent evidence produced at the aforementioned hearing, has made the following determination of facts: 1. That proper publication, public notice, and posting was provided as required by law for the hearings before the Planning and Zoning Commission and before the Board of County Commissioners. 2. That the public hearings before the Planning and Zoning Commission and the Board of County Commissioners were extensive and complete; all pertinent facts, matters and issues were submitted; and that all interested parties were heard at those hearings. 3. The application is in compliance with the standards set forth in Section 4:00 of the Garfield County Subdivision Regulations of 1984. as amended. 4. That the proposed subdivision of and is in compliance with the recommendations set forth in the Comprehensive Plan for the unincorporated areas of the County. 5. The proposed subdivision of land conforms to the Garfield County Zoning Resolution of 1978, as amended and the provisions of the High Density Single Family zone district in the Los Amigos Ranch PUD. 6. The proposed use is in the best interest of the health, safety, morals, convenience, order, prosperity and welfare of the citizens of Garfield County. NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Garfield County, Colorado, that based on determination of facts set forth above, the Preliminary Plan request is approved with the following conditions: 1. That all representations made by the Applicant in the application and as testimony in the public hearings before the Planning & Zoning Commission and Board of County Commissioners shall be conditions of approval, unless specifically altered by the Board of County Commissioners. 2. All internal roads shall be designed to have a road surface of at least two 12 -foot driving lanes with curb and gutter throughout the subdivision with a minimum right of way of 50 feet. Such design of the internal road system shall be consistent with the design proposed to the BOCC in the Preliminary Plan. 3. The length of the cul-de-sac represented as Pinyon Mesa Drive shall be allowed to be designed, as shown, to 900 linear feet and the bulb at the end of the cul-de-sac may remain as designed with a landscaped island in the middle. 2 1111 rd IIVAT40411ti,PElN 11111 Reception#: 716948 02/08/2007 04:38.23 PM 8:1893 P.0365 Jean Alberico 3 of 6 Rec Fee.$0.00 Doc Fee: GARFIELD COUNTY CO 4. The Applicant shall furnish a design and specifications for the secondary emergency point at the end of Paintbrush Way that indicates the ability to handle large / heavy emergency vehicles and methods of break -away gates or other appropriate mechanism to deter use unless for emergency. This shall be prepared and provided prior to final plat. 5. Applicant shall obtain a driveway access permit for both the main entrance into the projects and for the secondary emergency access point onto CR 114 these shall be obtained prior to final plat. 6. The Applicant shall install a stop sign at each entrance to CR 114. The signs, posts and location shall be as required by the MUTCD (Manual on Uniform Traffic Control Devices). An intersection sign shall be placed on both sides of the main entrance to the subdivision alerting uphill and downhill traffic to the entrance. The signs, posts and installation shall be as required in the MUTCD (Manual on Uniform Traffic Control Devices). 7. Pursuant to the suggestions by the Road and Bridge Department in Exhibit M, the Applicant may either 1) construct a right-hand turn lane should be installed on the uphill lane to the main entrance to the subdivision and be reimbursed by the total amount of Traffic Impact Fees required by the Development (approximately $150,000.00) or 2) choose not to construct the improvement a only pay the Traffic Impact Fee. The Applicant shall pay the appropriately calculated Traffic Impact Fee for Study Area 10 which results in a fee of approximately $149,292.00. Only half of this fee (approximately $74,646.00) is required to be paid at Final Plat with the remaining half to be amortized by way of individual building permits as the project develops over time. 9. The Applicant shall cause the conveyance of the School Parcel by deed to the RE - 1 School District prior to Final Plat or pay the appropriately calculated School / Land Dedication Fee pursuant to the Subdivision Regulations. 10. All development of this property shall follow the recommendations of the Colorado State Forest Service as stated in their letter dated August 28,2006, (attached as Exhibit N to the Staff report) which shall be incorporated into the CCRs as a requirement of the BOCC particularly as they relate to lots 17-20, 36- 48, 66-72 and lots 59-65. 0 The Applicant shall pay -in -full the fire impact fee of $437 per dwelling unit to Carbondale Fire Protection District at the time of Final Plat. (This fee shall be S34,960.00) 12. The Applicant shall incorporate the recommendations contained in the "Wildlife 3 111'111�,4.1 1V11417N015 ,NL4, 1rIK1CPA IlithN 11111 Reception#: 716948 02108!2007 04:38 23 PM 8:1893 P:0366 Jean Alberico 4 of 6 Rec Fee $0.00 Doc Fee: GARFIELD COUNTY CO Analysis / Impact and Mitigation Report" prepared by Rocky Mountain Ecological Services, Inc. contained in the Application and shall be included as a component in the CCRs. 13. Prior to Final Plat submittal. the Applicant shall meet with the DOW in order to prepare an Elk Management Plan due to the amount of critical wintering habitat being eliminated with development. (This was not completed.) 14. The Applicant shall cause the open space tracts to be deeded to the Homeowners Association as part of the Final Plat. 05.The Applicant shall provide a security for revegetation in the amount to be determined by the County Vegetation Manager (based on disturbed acreage) for all areas to be disturbed in connection with the final plat and the obligations of said security which security shall be incorporated into the Subdivision Improvements Agreement. The security shall be held by Garfield County until vegetation has been successfully reestablished according to the Reclamation Standards in the Garfield County Vegetation Management Plan. l 6. The Applicant shall provide a Soil Management Plan that includes 1) provisions for salvaging on-site topsoil, 2) a timetable for eliminating topsoil and/or aggregate piles, and 3) a plan that provides for soil cover if any disturbances or stockpiles will sit exposed for a period of 90 days or more. The Applicant shall prepare this plan to be submitted with the final plat documents so that the County can review prior to final plat approval. 17. The Applicant shall follow all of the recommendations provided in the geotechnical analysis prepared by HP Geotech (reports in the Application and Exhibit S to the Staff Report) as well as the follow the recommendations provided by the Colorado Geologic Survey in their letter dated August 30, 2006 also attached as Exhibit J to the staff report). 18. All easements of record shall be shown on the Final Plat. 19. The Applicant shall include the six points provided in the letter from the Bureau of land Management dated August 22, 2006 (and attached to the Staff report as Exhibit P) in the CCRs to place residents in the PUD on notice of these issues. The CCRs shall be provided as part of the Final Plat submittal. 20. The following plat notes shall he placed on the final plat. a. "Control of noxious weeds is the responsibility of the property owner." h. "One (1) dog will he allowed for each residential unit and the dog shall he required to he confined within the owners property boundaries." e. "No open hearth solid fuel fireplaces will be allowed anywhere within the 4 1111 Fhl III Reception$: 716948 02/0812007 04.38:23 PM B 1893 P 0367 Jean Alberico 5 of 6 Rec Fee.$0.00 Doc Fee. GARFIELD COL'tdrY CO subdivision. One (1) new solid fuel burning stove as defied by C.R.S. 25-7- 401, et. seq., and the regulations promulgated thereunder, will be allowed in any dwelling unit. All dwelling units will he allowed an unrestricted number of natural gas burning stoves and appliances". d. No further subdivision shall be allowed of a subdivided lot." e. "All exterior lighting shall be the minimum amount necessary and that all exterior lighting 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". f "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. Those with an urban sensitivity may perceive such activities, sights, sounds and smells only as inconvenience, eyesore, noise and odor. However, State law and County policy provide that ranching, farming or other agricultural activities and operations within Garfield County shall not be considered to be nuisances so long as operated in conformance with the law and in a non -negligent manner. Therefore, 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. g• "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 information is "A Guide to Rural Living & Small Scale Agriculture" put out by the Colorado State University Extension Office in Garfield County." h. "All lots shall require site specific geotechnical studies before a building permit will be issued by the County Building Department and all foundations shall be designed by a professional engineer licensed to practice in Colorado. i. Zone District Parameters: Zone District Conditional Uses Minimum Lot Area Maximum Lot Minimum Setbacks Maximum Height Maximum Floor Area 5 111! 101 1111 Reception#: 716948 02/08/2007 04:38:23 PM 8 1893 P:0368 Jean glper..co 5 of 6 Rec Fee -30.30 Doc Fee. GARFIELD COUNTY CO 113, �. Dat day of r�r�� .. A.D. 2007. • 1,11; ., 115 of the Board GARFIELD COUNTY BOARD OF COMMISSIONERS, GARF :p D COUNTY, COL*' Ch Upon motion duly made and seconded the foregoing the following vote: John Martin Larry McCown Tresi Houpt adopted by Aye , Aye , Aye STATE OF COLORADO )ss County of Garfield , County Clerk and ex -officio Clerk of the Board of County Commissioners in and for the County and State aforesaid do hereby certify that the annexed and foregoing Resolution is truly copied from the Records of the Proceeding of the Board of County Commissioners for said Garfield County, now in my office. IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of said County, at Glenwood Springs, this day of , A.D. 2007 County Clerk and ex -officio Clerk of the Board of County Commissioners Cover e High Density Single Family (HDSF) Home Occupation 10,000 sq. h. Front / Hear: 25' Sides: 10' 28 feet 3,294 sq. ft. 113, �. Dat day of r�r�� .. A.D. 2007. • 1,11; ., 115 of the Board GARFIELD COUNTY BOARD OF COMMISSIONERS, GARF :p D COUNTY, COL*' Ch Upon motion duly made and seconded the foregoing the following vote: John Martin Larry McCown Tresi Houpt adopted by Aye , Aye , Aye STATE OF COLORADO )ss County of Garfield , County Clerk and ex -officio Clerk of the Board of County Commissioners in and for the County and State aforesaid do hereby certify that the annexed and foregoing Resolution is truly copied from the Records of the Proceeding of the Board of County Commissioners for said Garfield County, now in my office. 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C3-) • .!"-"q1- • mer Yor AT O. fl?( •.1 b 1 _ 9 o z Z 3j o tn 1 z • 1 A -A- LAJ.14 .11 S:4 4 p a "P'., • - .... -"-a----,---,----- - -- ---.. .M.11111.11.1111=1.001.0. arr Awls iffailiFIWNITIFIMVP aitA ! anis gm i. 0111111110.11illignilfillOGNME111111111110Paillratillniffill i i i 1 ,.! 9 f 1 1 \1 6 ii 1 . 9f A Jill ',MIN .1%.• W 1 I ( ) 1111 , I I I i S'..1. • Ex , - , ''' ve.,.., ,,. ?ffi-c -,. • *- AN•g1J 11•101111=111111 NMI ,1111111110/11111111114nallillif =....m -...c..... ---........,........--.-...__-,:r."-1 ---,mit. .. tArt . i . ,... .12 ; - !? c • • • ;•• 4 14 k NOI1?35 SSO21.7 h13N3611 AG 4 1 lig 5 2 hi� aa�,E� a c, IA 404 ohm to !R ri,P 11 tz 9 0 i `la c4 ' t► 4 y r'I:1124:11h it 11111141 1 1.1 11'1iiiit;11 ii�l 1'1 i1 11411 #1 "" 1Iii+I ; I` I .44 C t 111" F'L' Kiw:1114 Lit 11111 Reception.#: 878399 05/1412016 04:05:09 PM Jean Alberico 1 of 10 Rec Fee:$0.00 Doc Fee:0.00 GPRFIELD COUNTY CO STATE OF COLORADO )ss County of Garfield ) At a regular meeting of the Board of County Commissioners for Garfield County, Colorado, held in the Commissioners' Meeting Room, Garfield County Plaza Building, in Glenwood Springs on Monday, the 9th day of May, 2016, there were present: John Martin Mike Samson Tom Jankovsky Kevin Batchelder Tari Willams Kelly Cave Jean Alberico , Commissioner Chairman , Commissioner , Commissioner , County Manager t County Attorney , Assistant County Attorney , Clerk of the Board when the following proceedings, among others were had and done, to -wit: RESOLUTION NO. ,20/19-'40 A RESOLUTION AMENDING THE TEXT OF THE LOS AMIGOS RANCH PUD (RESOLUTION NUMBER 2006-16) AS RECORDED ON FEBRUARY 15111, 2006, RECORDED AS RECEPTION NUMBER 692367, IN BOOK 1772 AT PAGE 493. Recitals A. Garfield County is a legal and political subdivision of the State of Colorado for which the Board of County Commissioners (Board) is authorized to act. B. The Los Amigos Planned Unit Development (PUD) was originally approved under Resolution 79-15 and was subsequently amended under Resolution 81-358, Resolution 96-34, Resolution 2004-05, Resolution 2006-16, and Resolution 2008-06; and B. On the 6`h day of February, 2006, the Board adopted Resolution No. 2006-16 concerning a Text Amendment to the Los Amigos Ranch Planned Unit Development, County of Garfield, State of Colorado to modify the Commencement Date and Completion Date for the 3F Phase; and C. On April 13, 2016, the Garfield County Planning Commission recommended approval with conditions for the proposed text amendment to the PUD to modify the Date of Completion from December 31, 2010, to December 31, 2019, for Phase 3F as identified in Resolution 2006-16. D. On the 9th day of May, 2016, the Board of County Commissioners opened a public hearing upon the question of whether a PUD Substantial Modification Text Amendment changing the Date of Completion for Phase 3F of the Los Amigos PUD from December 31, 2010 to December 31, 2019 Page 1 of 5 In Reception#: 878399 06/14/2016 04:05:09 PM Jean Alberico 2 of 10 Rec Fee:$0.00 Doc Fee:0.00 GARFIELD COUNTY CO should be granted, granted with conditions, or denied. At said hearing, the public and interested persons were given the opportunity to express their opinions regarding the issuance of said amendment. E. The Board closed the public hearing on the 9th day of May, 2016, to make a final decision. G. The Board on the basis of evidence produced at the aforementioned hearing has made the following determinations of fact: 1. That proper public notice was provided as required for the hearing before the Board of County Commissioners. 2. The hearing before the Board of County Commissioners was extensive and complete, that all pertinent facts, matters and issues were submitted and that all interested parties were heard at that meeting. 3. That for the above stated and other reasons the proposed PUD Substantial Modification Text Amendment to Los Amigos PUD is in the best interest of the health, safety, convenience, order, prosperity and welfare of the citizens of Garfield County. 4. That with the adoption of conditions, the application is in general conformance with the 2030 Comprehensive Plan, as amended. 5. That with the adoption of the Conditions of Approval the application has adequately met the requirements of the Garfield County Land Use and Development Code, as amended. NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Garfield County, Colorado, that: A. The Los Amigos Ranch PUD, adopted on the 6th day of February, 2006, and identified as its Resolution No. 2006-16, shall be and hereby is amended and said language will be incorporated into the PUD Guide for the Los Amigos PUD as shown on the attached Exhibit A. The fully updated and amended PUD Guide for the Los Amigos PUD is attached as Exhibit B. B. The Text Amendment to the Los Amigos PUD is hereby approved subject to compliance with the following conditions: I. That all representations made by the Applicant in the application shall be conditions of approval, unless specifically altered by the Planning Commission. 2. The Applicant shall submit an updated and revised PUD Guide for review by Community Development and County Attorney Staff. Once accepted by County Staff, the Page 2 of 5 iI{l 1FI1#IT,Hili.VAIfk 11111 Reception#: 878399 06114/2016 04:05:09 PM Jean Alberico 3 of 10 Rec Fee:$0.00 Doc Fee:0.00 GARFIELD COUNTY CO updated and revised PUD Guide shall be recorded with the County Recorder. ADOPTED this 13 day of cJ (, , 2016 ATTEST: GARFIELD COUNTY BOARD OF CpMIMIISSIONERS, GARFIELD UOUNT , COLORADO erk of the Board • Ch Upon motion duly made and seconded the following vote: s ution was adopted by the COMMISSIONER CHAIR JOHN F. MARTIN / , Aye COMMISSIONER MIKE SAMSON , Aye COMMISSIONER TOM JANKOVSKY , Aye STATE OF COLORADO County of Garfield )ss ) I, , County Clerk and ex -officio Clerk of the Board of County Commissioners, in and for the County and State aforesaid, do hereby certify that the annexed and foregoing Resolution is truly copied from the Records of the Proceeding of the Board of County Commissioners for said Garfield County, now in my office. IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of said County, at Glenwood Springs, this day of , A.D. 2016. County Clerk and ex -officio Clerk of the Board of County Commissioners Page 3 of 5 ■11111.11,/rIlfiiteli }kir, 117)A:41140011..1 'Ft!, Li, /l 111 Recept iori# : 878399 06114/2016 04:05:09 PM Sean Alberico 4 of 10 Rec Fee:$0.00 Doc Fee:0.00 GARFIELD COUNTY CO EXHIBIT A Los Amigos Ranch PUD Phasing Plan, As Amended by this Resolution Phase Designation (Preliminary Plan) Phase Designation (Final Plat) Description of Phase Commencement Date (Submission of Preliminary Plan) Completion of Development Per Subdivision Improvement Agreement 1 A Approximately 38 Tots on Road A and (1) lot adjacent to Filing 2 December 31, 1996 December 31, 1999 2 B Approximately 45 lots on Road A near water tank on Road B December 31, 1999 December 31, 2002 2 C Approximately 45 lots through second draw. Road D December 31, 1999 December 31, 2005 2 D Approximately 40 Tots through third draw, Road E December 31, 1999 December 31, 2008 2 E Remaining single family lots, rural residential tots and neighborhood commercial December 31, 1999 December 31, 2010 3 F 80 high density single family lots in lower valley December 31, 2008 (Reno 2006-16) December 31, 2019 (Prop..PUD Amend 2/2016) Page 4 of 5 III{ d� 878399 R /14/2016 04:05:09 PMOoceFeef?Ob001co GARFIELD COUNTY CO 06!54!2056 g of 54 Rec Fee:g0.00 EXHIBIT B Los Amigos Ranch PUD Guide Page 5 of 5 ri aj' iittlitc 11111 1l1 ill Reception#: 878399 06114/2016 04:05:09 PM Jean filberico 6 of 10 Rec Fee:$0.00 Doc Fee:0.00 GARFIELD COUNTY CO Kevised Los Amigos PUD Guide Compiled from Resolutions 79-15, 81-358, 96-34, 04-05, 06-16, 2007-04 and 2008-06 (Drafted May 3, 2016 for Pinyon Mesa II PUD Amendment) Zone Districts The planned unit development shall consist of four zone districts, the boundaries of which shall be indicated upon the final plat or plats of the Los Amigos Ranch, the planned unit development, which districts shall be designated as follows: Single -Family Residential District Multi -Family Residential District Neighborhood Commercial Open Space District Permitted Uses The uses permitted within said districts, together with the regulations affecting the usage of the lands contained therein, shall be as follows: Single -Family Residential District 1. Uses, by Right: Single. -Family dwelling and customary accessory uses. 2. Uses, Conditional: Churches", hospital, nursery, school site, home occupation. 3. Uses, Special: None. 4. Minimum Lot Area: 65,000 sq. ft.(sewer) 2 ac. (ISDS & sewer) 5. Minimum Setback: To be specified at time of final plat by showing permitted building envelopes. 6. Maximum Height of Buildings: 30 feet 7. Maximum Lot Coverage: 10 percent. 8. Maximum Floor Area Ratio: 15 percent. 9. Additional Requirements: All uses shall be subject to any and all of the provisions, covenants, conditions, and restrictions contained in this application and to additional previsions, covenants, conditions and restrictions by the recording of any supplemental declarations. High -Density Single -Family Residential District (from RESOLUTION 2007-04) 1. Uses, by Right: Single. -Family dwelling and customary accessory uses. 2. Uses, Conditional: Home Occupation. 3. Uses, Special: None. 4. Minimum Lot Area: 10,000 sq. ft 5. Minimum Setback: Front/Rear: 25 feet, Sides: 10 feet 6. Maximum Height of Buildings: 28 feet 7. Maximum Lot Coverage: 25 percent. 8. Maximum Floor Area: 3294 square feet 9. Additional Requirements: All uses shall be subject to any and all of the provisions, covenants, conditions, and restrictions contained in this application and to additional previsions, covenants, conditions and restrictions by the recording of any supplemental declarations. 1 ®IIICATilowili.w linti'ta'iF.ehim 11111 Reception#: 878399 06/14/2016 04:05:09 PM Jean Alberico 7 of 10 Rec Fee:$O.O0 Doc Fee:0.00 GARFIELD COUNTY CO Multi -Family Residential District Zone District Permitted Conditional Uses Minimum Lot Area Max Lot Coverage Minimum Setbacks Max Height Max F.A.R M.F. (Multi Family) Lots 1 and 2 per Reso 96-34 Single family, two family and multiple family dwelling, and customary accessory uses, townhouses, condominium, common wall design, conditional uses same as S.F. (a) single family detached dwelling and two family dwellings: 7,500 square feet (3,750 s.f. for each duplex unit) (sewer) (a) not more than 50% (a) front and back; 10' sides . (a) 30' (a) 0.5 (b) Townhouses and condominiums zero lot -line attached single family dwellings: 600 square feet. (sewer) (b) 100% (zero lot line). *Total lot coverage of each of Lots 1 and 2 of the Resubdivision of Los Amigos Ranch Filing No. 1 shall not exceed 50% of the total area of such lot. (b) Zero lot line individual units. *All buildings shall be setback from the existing lot lines of Lots 1 and 2 of the Resubdivision of Los Amigos Ranch Filing No. 1 as follows: 25' front and back; 10' sides (b) 30' *Total floor area of all buildings located on Lot 1 or Lot 2 of the Resubdivision of Los Amigos Ranch Filing No. 1 shall not exceed 50% of the total area of such lot *Referenced zone district text applies to each of Lots 1 and 2 of the Resubdivision of Los Amigos Ranch Filing No. as a whole, not to individually created townhouse, condominium, or attached single family dwelling lots. Rural Residential District 1. Uses, by Right: Single-family dwelling and accessory uses. 2. Uses, Conditional: Churches, hospital, nursery, school site, home occupation. 3. Uses, Special: None. 4. Minimum Lot Area: 35 acres (ISDS) 5. Minimum Setback: N/A 6. Maximum Height of Buildings: 30 feet. 7. Maximum Lot Coverage: N/A 8. Floor Area Ratio: N/A 9. Additional Requirements: All uses shall be subject to any and all provisions, covenants, conditions, and restrictions contained in this application and to additional provisions, covenants, conditions and restrictions by the recording of any supplemental declarations. These lots shall never be subject to resubdivision. 2 ®IN MrdraiMPIFIL1tS'LI V iiLPit wen imardYOM! 911111 1@ecept i pnl$ : 878399 06/1412016 04:05:09 PM Jean Alberico 8 of 10 Rec Fee:$0.00 Doc Fee:0.00 GARFIELD COUNTY CO r elgnoornooa Uommerclal District 1. Uses, bv Right: Single-family, retail groceries, drugstore, laundry service, furniture, appliances, hardware, clothing, garden supply, personal services, restaurant, and indoor recreation. 2. Uses, Conditional: None. 3. Uses, Special: None. 4. Minimum Lot Area: one acre (sewer) 5. Minimum Setback: a. Front yard- 25 feet from lot line b. Rear yard - 25 feet from lot line c. Side yard - 10 feet from lot line 6. Maximum Height of Buildings: 30 feet 7. Maximum Lot Coverage: 50 percent. 8. Maximum Floor Area Ratio: 50 percent. 9. Additional Requirements: All uses shall be subject to any and all provisions, covenants, conditions, and restrictions contained in this application and to additional provisions, covenants, conditions and restrictions by the recording of any supplemental declarations. School Site District 1. Uses, bv Right: Elementary School, Nursery. 2. Uses, Conditional: None 3. Uses, Special: None. 4. Minimum Lot Area: N/A (sewer) 5. Minimum Setback: N/A 6. Maximum Height of Buildings: N/A 7. Minimum Lot Coverage: N/A Open Space District 1. Uses, by Right: Ranching, farming, and general agricultural activities, and accessory uses, thereto. 2. Uses, Conditional: None 3. Uses, Special: None. 4, Minimum Lot Area: N/A 5. Minimum Setback: N/A 6. Maximum Height of Buildings: N/A 7. Minimum Lot Coverage: N/A Area of Applicability The PUD covers the following described unincorporated area of Garfield County: Township 6 South, Range 88 West of the 6th P.M. Section 31: SE-'/ and Lot 2 Section 32: S-'/2 SW-%, Lot 7 and SE %, SE-% Section 33: Lots 18 and 19 Township 7 South, Range 88 West of the 6th P.M. Section 5: Lots 3, 4, 5, 6, 7, 11 and the easterly 1/z of lot 10, NE-% SW '/4, NW-% SE '/, SE -1 NW -1% and NE '/ Section 6: Lots 2, 3, 4, 5, 6, 7, SW-% NE-% and NW '/ -SE-' 3 .® III Pi) FAT A45141,001'111`1114MM NI III Reception#: 878399 06/14/2016'04:05:09 PM Jean Rlberico 9 of 10 Rec Fee:$0.00 Doc Fee:0.00 GARFIELD COUNTY CO Township 6 South, Range 89 West of the 6th P.M. Section 35: Lots 1, 2, 10 and 16 Section 36: SEA, NY2 SW' NEV4 NW% and Lots 1 and 2 EXCEPTING from the above described property the parcels of land as follows: 1. William E. Foster and Bruce Dixson by deed recorded in Book 374 at Page 480; 2. Colorado Mountain Junior College District by deeds recorded in Book 381 at Page 537 and Book 399 at Page 265; 3. Board of County Commissioners of Garfield County, Colorado, by deed recorded in Book 409 at Page 220. 4. All that portion of Lot' 2, Section 6, Township 7 South, Range 88 West of the 6th P.M. lying Southwesterly of the Southeasterly right of way line of a county road known as the "College Road". Parcel 1 That part of T.7 S., R. 88 W. of the 6th P.M., being all of Lot 9 and the Westerly one-half of Lot 10 of Sec. 5, all of Lot 5 of Sec. 8 and that part of Lot 4 of Sec. 8, lying Westerly of the westerly right-of-way line of a County Road as constructed an in place, the Westerly right-of-way line of said road being described as follows: Beginning at a point on the Southerly line of said Lot 4, said point being on the Westerly right-of-way line of said County Road, whence the NE Corner of said Sec. 8 bears: N.60°03'34" E.1933.73 feet; thence N.03. 12.'18" E. 242.69 feet along the Westerly right-of-way line of said County Road; thence N.14. 58'08" E, 144:01 feet along the Westerly right-of-way line of said County Road; thence N.52° 07' E.691.57 feet along the Westerly right-of-way line of said County Road to a point on the Northerly line of said Lot 4. EXCEPT the Westerly 1024 feet of said Lot 5, Sec. 8 and said Lot 9, Sec. 5. Parcel 2 Lot 8 of Sec. 5, Lots 8 and 9 of Sec. 6, Lots 10 and 11 of Sec. 7 and Lot 6 of Sec. 8, T. 7S, R.88W. of the 6th P.M. EXCEPT all that part thereof heretofore conveyed by deeds recorded as Document No. 249250 in Book 418 at Page 1; Document No. 248001 in Book 409 at Page 220. County of Garfield State of Colorado and The Westerly 1024 feet at Lot Five (5), Section Eight (8), and Lot 'Nine (9), Section Five (5), Township 7 South, Range 88 West of the 6th P.M., also known as Los Amigos Ranch PUD. WASTEWATER (from RESOLUTION 96-34) The (44) lots along "Road A" (Los Amigos Drive to the water tank) which could potentially drain into the Spring Valley Aquifer, all lots along Los Amigos Drive that currently lie within the Spring Valley Sanitation District, all Tots depicted upon the PUD Plan as "High Density" single family lots, and all lots depicted upon the PUD Plan as "Multi -Family" units shall be serviced by central sewer provided by the Spring Valley Sanitation District. Given the economic inefficiencies and impracticalities associated with extending and maintaining central sewer service to the remaining westerly single family Tots in the PUD, Applicant shall be allowed to service said remaining lots with individual sewage disposal systems (ISDS), subject to the following conditions: 4 1111 hICIINFIVII't`PYI KIIMCI 211117k r1IPt Ilii' IMN1 ■1111 Reception#: 878399 05/14/2016 04:05:09 PM Jean Alberico 10 of 10 Rec Fee:$0.00 Doc Fee:0.00 GARFIELD COUNTY CO GAJ Applicant snail provide to the Board all information needed by the Board to review the environmental and health impacts presented by ISDS service, which shall also be forwarded to the Colorado Department of Health, Water Quality Control Division for their review and recommendation. (B) The Board finds that the Colorado Department of Health has made a favorable recommendation regarding the proposed method of sewage disposal as required by C.R.S. 30-28-136 (1)(g) UTILITIES (from RESOLUTION 96-34) Common open space areas shall be dedicated by the Applicant to the Los Amigos Ranch Homeowner's Association in an amount that maintains a 50:50 ratio or greater, dedicated open space to developed land. The dedication of open space shall coincide with the approval of the applicable final plat. PHASING (from RESOLUTION 96-34) Applicant shall be entitled to develop the Los Amigos Ranch PUD pursuant to the Preliminary Plat and Final Plan phases set forth below. Phase Designation (Preliminary Plan) Phase Designation (Final Plat) Description of Phase Commencement Date (Submission of Preliminary Plan) Completion of Development Per Subdivision Improvement Agreement 1 A Approximately 38 lots on Road A and (1) lot adjacent to Filing 2 December 31, 1996 December 31, 1999 2 B Approximately 45 lots on Road A near water tank on Road B December 31, 1999 December 31, 2002 2 C Approximately 45 lots through second draw, Road D December 31, 1999 December 31, 2005 2 D Approximately 40 Tots through third draw, Road E December 31, 1999 December 31, 2008 2 E Remaining single family lots, rural residential lots and neighborhood commercial December 31, 1999 December 31, 2010 3 F 80 high density single family lots in lower valley December 31, 2008 (Reso 2006-16) December 31, 2019 (Prop..PUD Amend 212016) 5 ®1111NrrPn471.Eari9tNiLki,Yh'iilL7Ohirilhlit ®1111 Reception#: 878398 06/14/2016 04:05:09 PM Jean Alberico 1 of 3 Rec Fee:$0.00 Doc Fee:0.00 GARFIELD COUNTY CO STATE OF COLORADO County of Garfield ) )ss At a regular meeting of the Board of County Commissioners for Garfield County, Colorado, held in the Commissioners' Meeting Room, Garfield County Plaza Building, in Glenwood Springs on Monday, the 9th day of May, 2016, there were present: John Martin Mike Samson Tom Jankovsky Kevin Batchelder Tari Willams Kelly Cave Jean Alberico , Commissioner Chairman , Commissioner , Commissioner , County Manager County Attorney , Assistant County Attorney , Clerk of the Board when the following proceedings, among others were had and done, to -wit: RESOLUTION NO. ‘,/a/(0-,39 A RESOLUTION CONCERNED WITH THE APPROVAL OF A ONE-YEAR EXTENSION FOR THE LOS AMIGOS RANCH PUD, PHASE 3, PINYON MESA SUBDIVISION PRELIMINARY PLAN LOCATED WITHIN THE PINYON MESA PUD ON A PARCEL OF LAND OWNED BY RE DEVELOPMENT CORP, GARFIELD COUNTY PARCEL NO. 2393-071-06-001 Recitals A. Garfield County is a legal and political subdivision of the State of Colorado for which the Board of County Commissioners (Board) is authorized to act. B. The Preliminary Plan for the Los Amigos Ranch PUD, Phase 3, Pinyon Mesa subdivision was approved by the Board on December 11, 2006, under Resolution No. 2007-04 for real property described in the document recorded at Reception Number 716948 in the records of the Clerk and Recorder, Garfield County, Colorado. C. On the 9`h day of May, 2016, the Board opened a public meeting upon the question of whether a one-year extension to file a Final Plat should be granted, granted with conditions, or denied. At said meeting, the public and interested persons were given the opportunity to express their opinions regarding the issuance of said extension. D. The Board acted on the basis of substantial competent evidence produced at the aforementioned meeting. Page 1 of 3 ■!lIl���dRtiT�l�s�'�,.'�IF��h���F����f�:wi��, ®I!1! Reception#; 878398 06/14/2016 04:05;09 PM Jean Alberico 2 of 3 Rec Fee;$0.00 Doc Fee:0.00 GARFIELD COUNTY CO E. In accordance with the Garfield County Subdivision Regulations of 1984, as amended, and the Preliminary Plan approval the for the Los Amigos Ranch PUD, Phase 3, Pinyon Mesa Subdivision, the Applicant was required to file a Technically Complete Final Plat application prior to December 11, 2007. F. The Board, on the basis of substantial competent evidence produced at the aforementioned hearing, made the following determinations of fact: 1. That the failure to request a timely extension was caused by extenuating circumstances and that granting of an extension of the Pinyon Mesa Preliminary Plan is in the best interest of the health, safety, convenience, order, prosperity and welfare of the citizens of Garfield County. 2. That with the adoption of conditions, the application is in general conformance with the 2030 Comprehensive Plan, as amended. 3. That with the adoption of the Conditions of Approval the application has adequately met the requirements of the Garfield County Land Use and Development Code, as amended. Resolution NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Garfield County, Colorado, that: A. The forgoing Recitals are incorporated by this reference as part of this Resolution. B. The Preliminary Plan Extension for the Pinyon Mesa Subdivision is hereby approved subject to compliance with the following conditions: 1. That all representations made by the Applicant in the application shall be conditions of approval, unless specifically altered by the Board of County Commissioners. 2. That the Preliminary Plan for Pinyon Mesa Subdivision as approved under Resolution 2007-04 is extended for a period of 1 year from the date of this Resolution. Page 2 of 3 Reeeptionk#: 878398 06!7412076 04:05:09 PM Jean Rlberico 3 of 3 Rec Fee:$0.00 Doc Fee.0.00 GARFIELD COUNTY CO Dated this ! 3 day of ) h.... , A.D. 2016 ATTEST: GARFIELD COUNTARD OF COMMISSIONERS, GARFIELD COUNTY, COLORADO rk of the Board Upon motion duly made and seconded the foregoing R sol tion was ad d by the following vote: John Martin Mike Samson Tom Jankovsky Aye , Aye , Aye STATE OF COLORADO County of Garfield )ss ) I, , County Clerk and ex -officio Clerk of the Board of County Commissioners in and for the County and State aforesaid do hereby certify that the annexed and foregoing Resolution is truly copied from the Records of the Proceeding of the Board of County Commissioners for said Garfield County, now in my office. IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of said County, at Glenwood Springs, this day of , A.D. 2016 County Clerk and ex -officio Clerk of the Board of County Commissioners Page 3 of 3 B G BALCOMB & GREEN, PC A FULL SERVICE LAW FIRM SINCE 1953 Chad J. Lee, Esq. Office Ph: (970) 945-6546 Facsimile (970) 945-8902 clee@balcombgreen.com June 28, 2016 VIA HAND DELIVERY TO: David Pesnichak, Senior Planner Garfield County Community Development Department 108 8th Street, Suite 401 Glenwood Springs, CO 81601 Re: Pinyon Mesa Subdivision Filing 2; Final Plat Application Dear David: On behalf of PMGC 2, LLC ("PMGC"), enclosed are three paper copies and a thumb drive of a Final Plat Application for Pinyon Mesa Subdivision Filing 2. This Application contains the following: A. General Application Materials: 1. The County's Divisions of Land Application Form, which has been completed and executed by Ronald Norman as Manager of PMGC 2, LLC and our check in the amount of $200.00 which we understand to be the appropriate application review fees; 2. An executed Payment Agreement form; 3. Letter of Authorization from PMGC 2, LLC; 4. A Statement of Authority indicating that Mr. Norman has the authority to act on behalf of PMGC 2, LLC; 5. Warranty Deed to PMGC 2, LLC; 6. A current vicinity map; 7. Project Description; and 8. Pre -Application Conference Summary dated April 20, 2016; B. Proposed Subdivision Improvements Agreement ("SIA") for Pinyon Mesa Filing 2 Subdivision; C. Construction Plans for Pinyon Mesa, Filing 2 (24" x 36"); D. Final Plat for Pinyon Mesa, Filing 2 (24" x 36"); E. Declaration of Covenants, Conditions and Restrictions for Pinyon Mesa; F. Affordable Housing Plan — N/A; G. Other Information as required by the Preliminary Plan Resolution of Approval — N/A; and H. Engineering Reports provided by David Kotz of SGM, Inc. Notwithstanding submitting the enclosed draft SIA, we intend to explore alternatives to the Letter of Credit set out in subparagraph 3.a. of the SIA as permitted by the Garfield County Code. Mailing Address: P.O. Drawer 790 Glenwood Springs, CO 81602 www.balcombgreen.com Glenwood Springs Office: 818 Colorado Avenue Glenwood Springs, CO (970) 945-6546 Aspen Office: 0133 Prospector Road, Ste. 4102E Aspen, CO 81611 (970) 920-5467 B G BALCOMB & GREEN, Pc A FULL SERVICE LAW FIRM SINCE 1953 Chad J. Lee, Esq. Re: Pinyon Mesa Subdivision Filing 2 June 28, 2016 Page 2 of 2 Thank you very much for your attention to this Application. As always, we look forward to working with you to process this request. Very truly yours, BALCOMB & GREEN, P.C. By: CJL/bc Encls. xc: Ronald Norman 1\1981015021"-PwYDNME54FINkPLAT1H-OWG516ML\P5-SNEETSEl1DOVEF DWG P/ottc¢. 5/23/2015 436 044 By' Frances Blackwelder i n 5 Q 91OZ 'ZZ eunf CD 3 Q V) luapisaad 'uouaaoN uo?i luOD!iddy / aauM0 19662 Jd'Z/O)/'I/p 00 aaaui6u3 pa!oad O 3 o Ul O (1) • J Q- —• 0 (x) v.) X 5. co C � N n0 Occ, (0 00c 2. v_ lV ON n J0 n O 3 ci 3 m 0 0 0 w suoypas ssoi) siaays 1101ap unId /oJ/Uo' Uo/SOJ3 sad fold pun Lipid punOJpuJn1 )onJl a{y sa/yoJd pUD UD/d u/pJG U/Jo/s Cr) S m 0 z Q N X • 0 l r\/P8/\0tS02\H-Pl,y/44sfFemPb6)\0-9.9e\cvn\Ps-sneetSet\Cow..d y Plotted: 6/23/20/6 4 J5 66 0y. 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ALL WORK TO BE DONE /N -STRICT COMPLIANCE W/TH RESPECT/VE UTILITY C v a G ata 043 613 616) .r�12'^ 001 4 61220�% ::; 4456161618 613766) 244i;i 441441Hr 401:2 Q 610 6�$ �h �i x"611 44$61 III °m>a61612�o461'x.�,c61�i41440�610a^ni��1'vN=2"�616616 611 vi°IA 2616)6) 61 F n ° m° n 6)61 26120 261^44 2 6661 6166 2146) &2 6)g Sr, g 6)61 461 4 k 612 37 �a w g 03161 i$ 61 04 N 6)i 616)161 2 li li _r22e m 4 o 631 6) 4Y 4 N a 6164 41361 616161 C 6161' F cX O,F a 72(4rj �O; :1E; 6in044�a4461x��C�C61616)44�a^.4161 6)6)6)6) �ao ;^1 616161$616161 ° 616146 �'r3, °6161 6)61= 617 616161 a 3200 ^61`,2 61261 a LZN 6)m 61-12'1610 ° 226) 46 6)6)61 0 6) 6 61 �61 616161 F 6)k 2 44 a !n6) 616 °6115 X26°21 6)y 61~3 9,1 16'112 40 226)2 6161 6161 6)6161 am 6161 6)Z 0212 V266)444 67)61 20, r1 76/ 61+161 k2 6061 2 an 2 6141 n Or�i2 Y m 6)o suo!RAeic19y 0 1\/981\0/5021H-PinyonMesoFinalPbllH-PrgslChill PS-ShaelSelICeomelry.dwg Rotted. 6/23/20/5 J:3) PM By: Prances Bloc/ewelde, UOLPfl.i1SUOD z - O 7 o a 0 O CD Q �7 n 0 � N � r n n 0 7 c O 7 UDId AJ4GW000 IUGUJU6!IV 3 O N W N PC3+12.38 \ \/p'1+00.00 \ \ \ \ \N0//a0 [i 1009 22 a'`m : w ti -. o u a G' w a w G •• n M� 2 N b� V 4 4 'I 'n 4 Il0 N W 2 2 O w Eii. q a 'iy 'n 4 4 ` 4 ,, 2 H; 4 O g O N 2 2, b (� O tr' Q caii• m b q y b +' 2 2 O� PA b p$p ` O S A m tZj 1I N b ti p � V. 8 8 w W O g N F. 2 8 b A N 4NI b b p�p N 0 q �. 4 N i 2 2. 0 b p. V 2 i 2 a 44 N 2 CURVE TABLE CURVE I RADIUS LENGTH I IANGENT I CHORD I BEAR/NG 1 DELTA in 0 U U 0 0$ W � o o � 0 0$ '.4:.-.• o o o S a .2 q ~ '' 4 4 w a q v lav w � V 4 b V � t" V 0 N W rwrv. O a g w e N q b 4 Ub i t 4 4 b 4 U ` q b wt A' W °,4 U m U Lt : N 4 L N a tt' 2 b q V g V N 4 4 A: U N{ �Vmn b Oto a 4 4 0 4 g 4 g N 2 ti V a b a # a 'St b 4 0 V 4q v a M Na, b aN. o 2W O ',' 4 4 q V W U T �: O 0 00 t; ti xA .95 — — .00 L°,gym r ti0 04 A A R Zs PA/N\y ; p 4 V obi (5 .(VM 3SOU 33/9 co I I.\1981\0/502\H-PinyonIdes,7BIPOI\H-Bwgs\Civil\PS-SAeelSe/\VfilifyComposile,re Polled6/23/2016 4:37 PM By Frances Block UOUDf1.1}SUOD 0 7 0 7 lD Q � fl N fl • r n n 0 0 7 n 0 3 0 x co U i I I it q / / , /4 1 w c^ 0 0E $� 2 / 1m i oe, m / f� I o � 9 z 9 0 J co 0 4. 44) co re! i N A 2 ti co es ----------- =e's 4. Q U O 0 N O 07981\01502\H Plot/M; 6/23/2076 438 PM By Fconces B/464 welder U0p11.1ISUOD 3 017+9 04 00+ L • °4S 0 O (Ji 0 U Ol 61.665 ELN 9 O 4 FL a5� 67900 E6 EC 5191.2 CO 192.21 E6 6192.3 £c 6192.58,0 619J6 EG 6193.53 FG 6194.4 EG 6193.63 E6 6194.7 E6 5193.81 61949 E6 N N N 0 O 0 0 a 6194.10 2 5195.0 65 6194.56 2 6195.2 cc 6794.03 Ec 6195.6 EG 6194.35 EG 6196. I EC 6194.54 FC 6796.7 56 6194.82 55 6197.3E5 6195.20 46 61979 Cc 6195.82 5, 61984 EC 6796.46 6198.8 55 6197.11 E0 6199 0 E6 6197 66 55 6199. 1 EG 5198.24 EC 6199.6 £6 6798.7716 6199.6 EL 6199.22 EG 6199.9 EC 6199.66 E6 62004 EC 6200.09 6205.9 EC 6200.47 Ec 6201.2 55 6200.871.6 6203.3 E6 6201.29 r5 6205.4 cc 6201.73 E6 6206 5 E6 6202.19 55 EC Ec 1981\01502\0-P/nyonM&s/P ofPb1\H-Oxgs\CN/1\P5-SheetSe7\L,ne.,1P &061e.4eq 6/17111' 0/23/1016 4:38 PM 9.' Franc 8/04 we,, UOI4Dnip UO O j CO .95 A 0 10 LP 0 10C O N _. O� x l0 n N £ W c 0 N. 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OJ A T 0 a`) pH 7' MH A-6 5147983 48, 0/5 000 54 215.30, 111124.04 S 72 1.50 1.11981\01502\H-Pinyo.esorinuIPbl1H-Legs\6 1\P5-Snee1Sef\S0, 010 PlanP.olee.Crq 0817.0.' 6/23/2016 4:39 00 By O O 08 O 3 -70 0 O CD 4 � T fln — 0 n n 0 n_ 0 7 n Z O 5 1 N/YNO MINS EC FG 6164.3 EC FG 6168.8 E5 6771 615 6174 3 EC FG 61772 EG tG 6180 1 EC FG 675'3,0 EC FG 61865 EG 67893(0 EC 61920 EC EG 6194.5 EC FG 61959 EC 6191.6915 61962 £C 6192.09 EG EC 62103 EG 6209 I EG 6207.95 Fc 62066 E6 6206.15 E5 6205 8 EC FG 6201.2 £G rc EC \ 5 • Z N/YNO WUOJS \ es Bbctw aer 7178E 1 INLET 0 0 0 tit PINYON MESA DRIVE TYPE 1 INLET S14 r 9, 0/ 00:.... cr .5 58.70 0/5900 ->t 6. 0 0 v N 0 6 111981\01301\H-9ny nMe.991,913991\8-0wgs\Civil\83-SheefSel SlormOrainPlanPro0ledwg P/675' 6/23/7016 4.J9 PM Sy: Frances Bk[kw2de. 0 71 0^ l v , r nn 0 n_ 0 ani}o.id puo uoId 17 puo c SU!OJG wa n 7 00 N FG 6167.0 EC FG 6165.2 EG Fc 61662 EG 6168.94 20 6170 7E0 6174.74 FG 6170.6 EG 6180.88 20 6175.2 56 6184.70 20 67765E6 6182.71 rG 6177.3 EC FG 6180.1 EG FG 6182.2 EL PG EG FG 6189.6 £L FS 6192.9 EL FL 62020 EC 6209.2 56 FC 6210.0 56 6211.65 20 62107 EC 6277.39 20 5217.6 EC FG EC FL fr N/0210 PIWOiS F N112dO {9U01S 5. a Wa a a a O tbn 1:1 19 8 11 015021H-PinyonAlesoRnalP6l1H-0w9a1C9il1PS-S6ee15e118inyorElonProlle.dw9 0/8518 6/23/2016 4;40 PO 8y Fronaee Blockwel4er UO 0 6199.4E15 U U N 619771 rG Uti 6109 6 EC 6198.31 r0 6199.9 EG 6198.87 r0 5199.2 E0 6199.31 FC 62002 EC 6199.7/ 62006 E0 6200.12 2 62054 f5' 6200.52 FG 6201.3 EG 6200.92 r0 6205.2 EG 6201.35 r6 6203.3 EC 6201.73 FG 6206 6 r0 6202 13 6206 B EG 6202.54 FC 62081 Ea 6202.94 FC 62082 ea 6203.2/ ra 62080 c0 620546 00 6208.0 E8 6203.70 FG 6208.2 EG 620.894 EG 6208 8 EC 6204.19 FG 6209. 1 EC 62044318 5209 1 e0 6204.68 /0 62/02(0 6204.92 iG 6209 5 EG 6205.16/5 5209.3 E8 620541 r0 6209.0 EG 6205.66 70 5208 7 EG 620604 r0 52088 EC 6206.56 FG 5209.1 E8 620723 75 6209.2 EG 6208.01 r0 6209.9 EC 62088010 62105 EG 6209.59 75 6211 8 70 6210.38 r0 MATCH LINE,. 57:4. 8+40 (SEE SHEET 6 OF 22) w II .55 EYCS 8+15.00 EVE: 6195.46 • 476,.,42 •by SKS: 7+85.00 8VCE' 6199.21 08, STA.5+9623 EL. 6203.01 • I 6850. J+85.16 EWE 6205.55 8VC5. 3+13.18 865'5.' 6207.49 621127G rG 6212 1 EC 8EC1N PINYON MESA OR. 574222543 ' EL. 6210.95 1 1/1147571 016561510) \ r\ \ \ 6081 1 77 PAc®o Q5'... ...Sot 9.0 _NTER`ECnON. 10o oz9 �l®TBC 6472.9v cls 6 0/0 36000 rI6, 51.6, /' 12.832 L 11198101502\3-PinyonMesOFinalPbt\14-0,54\Civil\PS-SheetSetl Pinyo0PlanPralila Ceq Plotted; 6/23/2016 4:40 PM 89: Frances 6Mc4eelde uoipn.i}suoJ • 0 °} 017+8 .°}S W (D 0 O N q 2, N N q O N p q FLU � FG 61975 EC 5195.32 2 6196.9 EG w + N 6194.9276 61964 EC 0 • 6194.52 ,6 61966 EG 6194.12 EC 6197.0 E0 519372.0 51973 EG 619322 Ec 61976 EG 6/92.65 Fc 61975 EG 6192.26 £c 61968E6 6191.99 F6 6196.2 EG 6791.97 FC 61960 EG 6191.90 £0 61955 EC 619202 £0 6794.5 E6 6192.15 06 6193.0E0 619227 F6 6191.9 EG 6192.39 F6 6797.7 E6 6192.52 F6 6190.92 6192.64 FG 6190.9 E6 5192.77 ro 6197.5 EG 6192.69 F6 67673 E0 619306 F6 6793,3 E0 6193.35 06 6194, 3 EG 619574 E6 6195, 3 EG 6194.14 E0 6196.1 E0 6794.54 2 6196.8 EG 619494 Fc 61975 E6 6195_7466 61982 E6 6195.91 £0 61987 E0 619651E6 6799.0 EC 6197.11 96 aN� li li ("N GRADE 8REAK 579.74+23.79 EL. 6195.39 N O III GRADE BREAK 57A.13+30.27 EL. 6193.1152 EVCS 13+6.41 EVCE 5193.77 BVCEI 619/.92 �y 6199.4E6 a 5197.71(7/ H o EVC5: 10+56.60 EWE 6792.9 SS Una Nq0 V4a SVCS. 10+17.60 BICE, 619350 1 1 . 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S+7392 BVCE 620,325 MATCH LINE, STA. 6+40, SEE SHEET 72 OF 22 EX'S 5+35.07 \1 � EV0E.' 8205.59 SVCS: 4+75.07 SVCS' 6207 69 BICE 4+41.65 EVCE 6208.02 877057 3+97.65 SVCE.. 6209.02 • (9J) 30020 03HSIN/J EVC5.' 3+07.97 EVC0 6211.71 SVCS: 2+39.47 SVCS 6212.02 EVCS 2+2745 EVCE' 6211.78 /5sN �Cm/5m74 SVCS.. 1+85.37 6VCE 6211.65 8EC/N PAINTBRUSH WAY STA.1+68.13 EL. 6217.89 (MATCH EXISSNO) o0 O 8 S o O m 1'\198 1 1 015021N-PinyonMesa£.hol0o1M1-DW9s\Civil\PS-SheatSef\PoinfdrvshPlon ProMerdxq *9/94' 6/23/2016 4,41 PM 9y: France 5976U.+der 6 uoi}Dna}suoJ 08+LL 01 017+9 Z O 6185.4 EGA O to 618540 Fc 61872 EG 6786.24 77 51892E6 6187.47M 61904 EG 6188.81 FG 6191 1 Ec 0 6190.21 8c 61927 EG 6191.61 FG 6794,0 EC 6793.01 E6 6195.2 EC 6194.41 E6 61965 EC 6195.64 76 6197.6 Ec 6196.54 F6 6198 4 86 6197.10 16 6198.5 E0 6197 34 56 61986 EG 619744M 6199.5 EC 619754 76 6198.4 EG 6197.63 FE 61970 E6 619773 56 6198.8 Ec 6197.83 E6 61987 EC 619793 FC 6199.5 EG 6/98.0376 61967 EG 6198.13 FG 6197.6 EC 6198.23 EG 61978 EC 6198.3376 6197 4 55 6798 43 56 5196,9 EC 6198.5370 61973 PC 5198.7076 61977 EG 6199.0256 61982 EC 6799.49 Fc 6199 7 £c ,END PAINTBRUSH WAY 'BEGIN EVER. ACCESS R0 '61A.1l 8f£V.626C628562 00•0 vo \ o�itig \ Aon \ tib $S m.a <q+ mq aT SVCS 11+36.26 N N N S u o 944560057 56A.Jr'+80, 5E£ SHE£7 73 22 866E 6/87.67 EYCS: 10+40.19 BCE •79 .4 (JJ) 301,80 03HSIN/J MATCH LINE STA. 6+40, SEE SHEET 11 OE 22 cs \ 8665: 9+62.19 816E 6197.32 - El/CS: 7+1892 EWE: 6198.54 6200.11 Fcq 101981\0150210-Plnyan8eso0nolP01\H-Owgs Civil\PS-Shee1At\PPInlbrushPlanPro6'S.Ewq 9816 8 6 27201 4:41 PM Ely' Frances [Pee elder UOUDMI}SUOD O co N O z O W w 70 0 EC 6196.4 EG EG 6195 6 Ec 619596 FG 5794.0 EC 6795.7670 6193.0 50 5794.31 FG 6191.5 E6 619325,0 61894 Et 6791.97 Fc 61882 EC 6190.46 00 61880 EC 6188.86 EC 6186.5 55 6187.37 Fa 6181.6 EC 6786.21 F6 61773 EC 5785.38 66 6175.1£6 6184.89 FG 67758 EG 6184.72 FC 6779,6(6 6164.90 6G 6185 4EC . 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EL. 6207.19 1NTERSEC770 55A.7+0000, ARE TRUCK TURNAROUND 2 = 5TA.7+00.97, PA/578RUSH WAY EL. 6198.69 \ ; EYP, 5TA.7+77.00 EL. 6798.47 VP, STA. 1+13.00 0>6198 0 6189.0 EC 6189.93 40 6189 9(0 6189.53 6190.8 EL 6789.13 F6 6190.J EC 6189.251-6 EG EYP,- STA.! +15.00 EL. 6198.47 END ARE TRUCK TURNAROUND 2 \ 514.1+71.00 EL. 6200.71 4 END FIRE TRUCK •" TURNAROUND 3 STA. 1+71.00 EL. 6196.15 EVP, STA. 1+15.00 . 6789.03 &VP, STA. +13.00 6188.86 EVP, STA. 1+11.00 EL. 6189.03 INTERSECTION' STA. 7+0000, ARE TRUCK TURNAROUND 3 = STA. 11+13.82, PAINTBRUSH WAY EG. 6189,25 PTO INC 501 I :500I1' 31, PTO TBC STA 1,34 ST /OA34..1.t.., r,61 O II t .6 i PCO 3 32 INNiii Fur ----L"''''' �� y1 %S Ja ♦' i 3 RP 5£A7+3451. 0/5 0600'8 481 PINY PC TBC STA 1+II 42 0/0 300908 MESA DR/vc /� / / 7- P1N N MESAT081, _ STAV01+p0,'pp. F8£ TR(/CK TURNAROUND 1 / E[ 610'if9 / /L -- // /N7ERSEC00N INTERSECTION."" s7» 1+0000, 556780VSN 5TA.1+00.00, FipE 70 1100 0.8416400660 2 \ fL 619969--" PAINTBRUSH WAY 0 r 4:l� /- STA. 1090 0 CL.6T9552� .. 0 0 'D 7 LE2 N T I 4 8. 0/6 36000 ' PC 0.THC SIA. 4+32.96' 0/3 • _874..99.5.9____ PC 61 298. 0/ I2. 46948 INTERSECHON.I ` 74740000 ' IBr TRUCK ru4440UN0 3 57.1 1+1352. 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AGREEMENT ("Agreement") is made and entered into this day of , 2016, by and between PMGC 2, LLC, a Texas 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 WHEREAS, on February 5, 2007 the BOCC, by Resolution No. 2007-04, approved a preliminary plan for Phase III of the Los Amigos PUD, known as the Pinyon Mesa Subdivision which, among other things, would create eighty (80) single-family residential lots in 2 Phases, Phase I consisting of forty-eight (48) lots and Phase II consisting of thirty- two (32) lots ("Preliminary Plan Approval"); and WHEREAS, on , the Final Plat of Phase I of the Subdivision was recorded as Reception No. , which created forty-eight (48) Tots; and WHEREAS, Owner is the owner and developer of Phase II of the Pinyon Mesa subdivision, consisting of approximately 33.798 acres of real property which is legally described in that certain Warranty Deed recorded May 24, 2016 as Reception No. 877562 ("Property"); and WHEREAS, Owner has submitted to the County for its approval a final subdivision plat ("Final Plat") for the second filing of the Subdivision, comprising thirty-two (32) single-family residential lots on the Property ("Subdivision"); and WHEREAS, as a condition of approval of the Final Plat of the Subdivision, submitted to the BOCC for approval as required by the laws of the State of Colorado, Owner wishes to enter into this Agreement with the BOCC; and WHEREAS, Owner has agreed to execute and deliver a specific form of collateral to the BOCC to secure and guarantee Owner's performance under this Agreement and has agreed to certain restrictions and conditions regarding the sale of properties and issuance of building permits and certificates of occupancy, all as more fully set forth below. NOW, THEREFORE, in consideration of the mutual covenants and promises contained herein, the parties agree as follows: 1. FINAL PLAT APPROVAL. The BOCC hereby accepts and approves the Final Plat of the Subdivision, on the date set forth above, subject to the terms and conditions of this Agreement, the Preliminary Plan Approval, and the requirements of the Garfield County zoning and subdivision regulations and any other governmental or quasi - governmental regulations applicable to the Subdivision ("Final Plat Approval"). This approval authorizes construction and development within Filing 2 of the Subdivision, as approved by the Preliminary Plan Approval. Recording of the Final Plat shall be in Deleted: LOCATED IN THE LOS AMIGOS PUD SUBDIVISION Deleted: SUBDIVISION ("Pinyon Mesa" or "Subdivision"), located in the Los Amigos PUD, accordance with this Agreement and at the time prescribed herein. 2. OWNER'S PERFORMANCE. a. Completion Date/Substantial Compliance. Owner shall cause to be constructed and installed the subdivision improvements (collectively the "Improvements"), identified in subparagraphs i. and ii. below, at its own expense, including payment of fees required by the County and/or other governmental and quasi -governmental entities with jurisdiction. The Improvements shall be completed on or before the end of the first full year following execution of this Agreement ("Completion Date"), in substantial compliance with the following: i. Plans marked "Approved for Construction" for all on-site Improvements for the Subdivision, prepared by Schmeuser, Gordon, Me under project number 01502H, and submitted to the BOCC on or abo attached as Exhibit A-1 and the estimate of cost of completion, - . s y and bearing the stamp of Owner's professional engineer licensed in the State of Colorado ("Owner's Engineer"), attached as Exhibit A-2; and all other documentation required to be submitted along with the Final Plat under pertinent sections of the Garfield County subdivision and zoning regulations ("Final Plat Documents"); ii. All requirements of the Preliminary Plan Approval; iii. All laws, regulations, orders, resolutions and requirements of the State of Colorado, Garfield County, and all special districts and any other governmental or quasi -governmental authority(ies) with jurisdiction; and iv. The provisions of this Agreement. b. Satisfaction of Subdivision Improvements Provisions. The BOCC agrees that if all Improvements are installed in accordance with this Paragraph 2; the record drawings are submitted upon completion of the Improvements as detailed in paragraph 3.f., below; and all other requirements of this Agreement, then the Owner shall be deemed to have satisfied all terms and conditions of the Garfield County zoning and subdivision regulations, with respect to the installation of Improvements. 3. SECURITY FOR IMPROVEMENTS. a. Restriction on Transferr, As security for Owner's obligation to complete . the Improvements in accordance with this Agreement, Owner shall be restricted from selling, transferring, encumbering, or otherwise conveying certain Lots within the Subdivision with a cumulative value of at least $1,042,640.50, as determined by a licensed appraiser, which amount represents the full estimated cost of completing the Improvements, including a sufficient contingency to cover cost changes, unforeseen costs and other variables (not less than 10% of the estimated costs and as approved by the BOCC), minus the cost of Improvements already completed as of the date of execution of this Agreement, as set forth and certified by Owner's Engineer on Exhibit A-2, to guarantee completion of the Improvements. Owner has submitted an appraisal to the BOCC which finds that all Lots within the Subdivision range in value from ,$ to $. For purposes of this Deleted: ; Deed of Trust. Agreem value of fry ✓fl nt, the parties shall stipulate that all lots within the Subdivision shall have a . Thus, to secure the restriction on transfer of a sufficient amount of Lots, Own ct shall deliver to the BOCC, on or before the date of recording of the Final Plat of the Subdivision with the Garfield County Clerk and Recorder, a,Restrictive Covenant in the form agreed to be acceptable to the BOCC, which is attached to and incorporated .in ' this Agreement by reference as Exhibit B (`Restrictive Covenant") encumbering and' 4 adequate number of lots to reach a cumulative value of at least $1,042,640.50. 1C 1 /V j b. Revegetation Security. Revegetation of disturbed areas in the Subdivision shall be secured by delivery of a Treasurer's Deposit Agreement substantially inn a form acceptable to the BOCC, attto and incorporated in this Agrent byreference as ', Exhibit C, in the amoun of $ ,501 from the Owner to the = e • evegetation TDA"). The Revegetation TDA . re valid for a minimum o two (2) years- Exhibit ears recording of the Fi 1 Plat. ��� c L C pt G 4 j .4._���~p {ry L Upon es ablis invent of vegetatt ,--the Owner hall 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 ofsucces of revegetation !�1r'eclamation in accordance with the Garfield Count eed Management Plan X96, adopted by Resolution No. and recorded in"the Office of the Garfield County Clerk and Recorder as Reception Z No.3at Beok- 1251, pogo 366, as amended, and the Revegetatio eclamation Plan for the Subdivision submitted as part of the Final Plat Documents. �-73� C ii. Following receipt of written approval of the Vegetation Management Department, the Owner may submit to the BOCC, through the Building and Planning Department, a written request for release of the Revegetation, DAA, 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. Deleted: Deed of Trust iii. 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 wears following recording of the Final Plat. „...„...17 jA,.kn iv. If revegetation efforts are deemunsuccessful ul within r/1 Deleted: Deed of Trust") encumbering at least Lots. Specifically, such Deed of Trust shall initially encumber Lots . However, Owner may substitute any encumbered Lot with an unencumbered Lot upon written request to the Building and Planning Department, in which case Owner shall tender a new Deed of Trust on the substitute Lot in a form substantially similar to Exhibit B, and the County shall execute a partial release of the encumbered Lot within 15 days of Owner's written request. In the event of such substitution, Owner warrants and represents that such substitute Lot is owned free and clear of monetary encumbrances. Owner specifically acknowledges that this Agreement is a "right to the payment of a monetary obligation" in the event the Improvements are not completed as set forth herein, and that this Agreement shall constitute "evidence of debt" as defined by Section 38-38-100.3, C.R.S. Deleted: Letter of Credit Deleted: LOC Deleted: LOC Deleted: LOC the period of time, in the sole discretion of the BOCC upon the recommendation of the Vegetation Management Department, or if the BOCC determines that the Owner will not or cannot complete revegetation, the BOCC may withdraw and employ from the Revegetation TDA such funds as may be necessary to carry out the revegetation - work, up to the amount of Revegetation TDA. v. In lieu of or in addition to drawing on the Revegetation TDA, the . BOCC may bring an action for injunctive relief or damages for the Owner's failure to adhere to the provisions of this Agreement related to revegetation. The BOCC shall provide the Owner a reasonable time to cure any identified deficiency prior to requesting payment from the Revegetation TDA or filing a civil action. Deleted: LOC Deleted: LOC Deleted: LOC Deleted: LOC vi. It is specifically understood that the Revegetation TDA is not subject to successive partial releases, as authorized in subparagraph 3(d) below. Further, the Revegetation TDA, and the BOCC's associated right to withdraw funds and bring a _ court action, may survive final release of the TDA and/or termination of this Agreement. c. Partial Releases of,Transfer Restriction. Owner may request partial release(s) of the lots,pncumbered by theJ2estrictive Covenant by means of submission to the Building and Planning Department of a "Written Request for Partial Release of,Transfer Restriction," in the form attached to and incorporated herein as Exhibit D, accompanied by the Owner's Engineer's Certificate of Partial Completion of Improvements, stamped by Owner's Engineer. The Owner's Engineer's seal shall certify that the Improvements have been constructed in accordance with the requirements of this Agreement, including all Final Plat Documents and the Preliminary Plan Approval. Owner may also request release for a portion of the security upon proof that 1) 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 2) 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 Security as portions of the Improvements, other than revegetation, required hereunder are certified as complete to the BOCC by the Owner's Engineer and said certification is approved by the BOCC. Deleted: LOC Deleted: LOC Deleted: LOC(s) Deleted: Security. Deleted: secured Deleted: Deed of Trust l Deleted: Security d. BOCC's Investigation. The BOCC shall be permitted to inspect and review p ^'11 the Improvements at any time during construction. For purposes of solicitin C 'p{' encouraging an inspection, Owner shall contact [Insert County Representative (970) 945- Z t tj. Notwithstanding the foregoing, upon submission of the Owner's Written Request for Partial Release ofc.Sve along with Owner's Engineer's Certificate of Partial Completion of Improvements, the BOCC may review the certification and may inspect and review the Improvements certified as complete to determine whether or not said Improvements have been constructed in compliance with relevant specifications, as follows: t k5_0.4,r! Grp i. I o lett 1p "`potential deficiency is furnished to Owner by the BOCC within s'of submission of Owner's Written Request for Partial Release of Security 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 nt of security,_,,,_ tS bv5(_ 1J ii. If the BOCC chooses to inspect and determines that all or a portion of the Impro ements certified as complete are not in compliance with the relevant specificati tl OCC shall furnish a letter of potential deficiency to the Owner, within fide Sy of submission of Owner's Written Request for Partial Release of Security accompanied by Owner's Engineer's Certificate of Completion of Improvements. iii. If a letter of potential deficiency is issued identifying a portion of the certified Improvements as potentially deficient, then all Improvements not identified as potentially deficient shall be deemed complete, and the BOCC shall authorize tpl' release of the amount of security related to the certified Improvements that are not identified as potentially deficient. ,------- iv.-30 0,4.:-....0 With -----iv.With respect to Improvements i entified as otentially deficient in a letter of potential deficiency, the BOCC shall h. ve days from the date of the _ _ letter to complete the initial investigation, and pry ' ae 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, then thearopy' to amount of security shall be authorized for release within ten ) days af�cr, completion of such investigation. Deleted: thirty (30 e. BOCC Completion of Improvements. If the BOCC finds, within t (5) day period of time, defined in subparagraph 3 (e)(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 Security, the BOCC may expend such funds as may be necessary to construct the Improvements in accordance with the specifications. In such event, the BOCC shall make a written finding regarding Owner's failure to comply with this Agreement prior to enforcing this Agreement, In lieu of or in addition to enforcing this Agreement, the BOCC may bring _, an action for injunctive relief or damages for the Owner's failure to materially adhere to the provisions of this Agreement. The BOCC shall provide the Owner feasonable titpe to cure any identified deficiency(ies) prior to executing on his A ee nt. CrC I (ie u•'1 Gf7(t f. Final Release of Transfer Restriction. Upon completidn of all Improvements, 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 Improvements have been constructed in accordance with the requirements of this Agreement, including all Final Plat Documents and the Preliminary Plan Approval, in hard copy and a digital format 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 Subdivision by the terms of this Agreement; and 3) a Written Request for Final Release of Security, in the form attached to and incorporated herein as Exhibit E, along with Owner's Engineer's Certificate of Final Completion of Improvements. i. The BOCC shall authorize a final release of the J2estrictive Covenant 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 specifi ions BOCC shall authorize release of the final amount of security within t (10)ayys� following submission of the Owner's Written Request for Final Release o ecurity— accompanied by the other documents required by this paragraph 3(g). ii. Notwithstanding the foregoing, upon Owner's Written Request for Final Release of Security 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(e) above shall be followed. Deleted: thirty (30 Deleted: or the Deed of Trust. Deleted: or the Deed of Trust Deleted: the Deed of Trust fDeleted: Security Deleted: Deed of Trust iii. If the BOCC finds that the Improvements are complete, in accordance with the relevant specifications, tl}e`B�,R�CCall authorize release of the final amount of security within ten (lOj day,, ter completion of such investigation. If necessary, the BOCC may complete remaining Improvements in accordance with process outlined in Paragraph 3(0 above. g. Recording of Final Plat. The Final Plat of the Subdivision shall be recorded when the security described in this paragraph 3 has been received and approved by the BOCC. 4. WATER SUPPLY AND WASTEWATER COLLECTION. Prior to issuance of any certificates of occupancy by the BOCC for any residences or other habitable structures located and constructed within the Subdivision, Owner shall install and connect a water distribution system for potable water, fire protection and a wastewater/sewer collection system in accordance with approved plans and specifications. All easements and rights-of-way necessary for installation, operation, service and maintenance of such water supply and distribution system and wastewater collection system shall be as shown on the Final Plat. Conveyance of the system(s), including real and personal property interests, from the Owner to the Pinyon Mesa HOA and the Spring Valley Sanitation District shall be in accordance with Paragraph 7, below. 5. PUBLIC ROADS. All roads within the Subdivision shall be dedicated to the public as public rights-of-way. Road rights-of-way shall be dedicated by the Owner and accepted by the BOCC, on behalf of the public, on the face of the Final Plat. The Homeowners' Association of the Subdivision shall be solely responsible for the maintenance, repair and upkeep of said rights-of-way, including the traveled surface of the roadways and portions of the rights-of-way outside of the traveled surface. The BOCC shall not be obligated to maintain any road rights-of-way within the Subdivision. 6. PUBLIC UTILITY RIGHTS-OF-WAY. Whether or not utility easements exist elsewhere in the Subdivision, all road rights-of-way within the Subdivision, whether public or private, shall contain rights-of-way for installation and maintenance of utilities. Public utility easements shall be dedicated by the Owner and accepted by the BOCC, on behalf of the public, on the face of the Final Plat. The Homeowners' Association of 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 easements within the Subdivision. In the event a utility company, whether publicly or privately owned, requires separate conveyance by deed or otherwise, Owner shall also convey utility easements by separate document. 7. CONVEYANCE WATER SUPPLY SYSTEM/WASTEWATER COLLECTION SYSTEM. The Water Supply System and Wastewater Collection System(s) shall be conveyed by deed,promptly following the completion of Improvements. 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 Deleted: at the time of Final Plat Approval and shall be recorded of the Improvements and any other agreement or obligation of Owner related to development of the Subdivision required pursuant to this Agreement. 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 be required to 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 Sovereign Immunity granted to the BOCC by Colorado statutes and case law. 9. ROAD IMPACT FEE. Pursuant to the Garfield County subdivision regulations, a Road Impact Fee of $59,716.80 has been established for the residential units within the Subdivision. Owner is responsible for fifty percent (50%) of the Road Impact Fee, which is $29,858.40. Owner shall remit payment to the Garfield County Treasurer in the amount of $29,858.40 at or prior to the time of recording of the Final Plat. The remaining 50% ($29,858.40) will be collected pro rata from lot owners each time a building permit issues for a residence within the Subdivision. 10. SCHOOL LANDS/FEES IN LIEU. Previously a deed conveying land to the Roaring Fork School District RE -1 has been recorded at Reception No. 723310 in Book 1926, at Page 0592, in accordance with Section 30-28-133(4), C.R.S., as amended. Therefore, Owner is not responsible for payment of fees in lieu of dedication of school; and. 11. COMPLIANCE WITH FIRE DISTRICT REQUIREMENTS. The Carbondale & Rural Fire District ("District") has reviewed and commented on this application. Per this review, the Owner shall: a. Install a water supply system pursuant to plans approved by the District's Fire Chief, including fire hydrants at the locations agreed upon between Owner and the District, shown on the Final Plat of the Subdivision; and b. Pay an impact fee to the District of $437 per dwelling unit at the time of Final Plat. For this Filing 2, the fee shall be $13,984.00. 12. 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. 13. BUILDING PERMITS AND CERTIFICATES OF OCCUPANCY. As one remedy for breach of this Agreement, the BOCC may withhold issuance of building permits for any structures requiring building permits within the Subdivision. Further, no building permit shall be issued unless the Owner demonstrates to the satisfaction of the Carbondale Rural Fire Protection District ("District") that there is adequate water available to the construction site for the District's purposes and all applicable District fees have been paid to the District. Further, the parties agree that no certificates of occupancy shall issue for any buildings or structures, including residences, within the Subdivision until all on- site Improvements have been completed and are operational as required by this Agreement. Owner shall provide the purchaser of a lot, prior to conveyance of the lot, a signed copy of a form in substantially the same form as that attached to and incorporated herein by reference as Exhibit F, concerning the restrictions upon issuance of building permits and certificates of occupancy detailed in this Agreement, Final Plat Approval and Preliminary Plan Approval. 14. ENFORCEMENT. In addition to any rights which may be provided by Colorado statute, the withholding of building permits and certificates of occupancy provided for in paragraph 13 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 Agreement. Nothing in this Agreement, however, shall be interpreted to require the BOCC to bring an action for enforcement or to withhold permits or certificates or to withdraw and use security. Nor shall this paragraph or any other provision of this Agreement be interpreted to permit the purchaser of a lot to file an action against the BOCC. 15. CONSENT TO VACATE PLAT. In the event the Owner fails to comply with the terms of this Agreement, 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 survey, legal description and a plat showing the location of any portion of the Final Plat so vacated and shall record the plat in the Office of the Garfield County Clerk and Recorder. If such plat is not recorded by the Owner, the BOCC may vacate the plat, or portions thereof, by Resolution. 16. NOTICE BY RECORDATION. This Agreement 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 Subdivision. Such recording shall constitute notice to prospective purchasers or other interested parties as to the terms and provisions thereof. 17. 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. 18. IDENTIFICATION OF CONTRACT ADMINISTRATORS AND NOTICE PROVISIONS. All notices required or permitted by this Agreement shall be in writing and shall be deemed effective when received by the recipient party via personal or messenger service delivery, facsimile transmission or United States certified mail (postage prepaid, return receipt requested), in all cases addressed to the person for whom it is intended at the address or facsimile number set forth below: Owner: Ronald Norman, Manager PMGC 2, LLC 265 Ponderosa Pass Carbondale, CO 81623 With Copy to: Chad J. Lee, Esq. BOCC: Balcomb & Green, P.C. 818 Colorado Avenue Glenwood Springs, CO 81601 Board of County Commissioners of Garfield County, Colorado c/o Planning Director 108 Eighth Street, Room 201 Glenwood Springs, CO 81601 Phone: (970) 945-8212 Fax: (970) 384-3470 The Representatives of the Owner and the BOCC, identified above, are the authorized representatives of the parties for purposes of contact administration and notice under this Agreement. 19. AMENDMENT. This Agreement may be modified from time to time, but only in writing signed by the parties hereto, as their interests then appear. The parties, however, may change the identification of notice recipients and contract administrators and the contact information, provided in paragraph 18 above, in accordance with the notice provisions and without formal amendment of this Agreement. 20. COUNTERPARTS. This Agreement 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. 21. VENUE AND JURISDICTION. Venue and jurisdiction for any cause arising out of or related to this Agreement shall lie with the District Court of Garfield County, Colorado, and this Agreement shall be construed according to the laws of the State of Colorado. IN WITNESS WHEREOF, the parties have signed this Agreement to be effective upon the date of Final Plat Approval for the Subdivision. OWNER: PMGC 2, LLC, a Texas limited liability company By: Ronald Norman, Manager BOARD OF COUNTY COMMISSIONERS FOR THE COUNTY OF GARFIELD, STATE OF COLORADO By: Print Name: Title: Chairman ATTEST: Jean Alberico, Clerk and Recorder Garfield County, Colorado STATE OF ) ) ss. COUNTY OF ) Subscribed and sworn to before me by Ronald Norman as Manager of PMGC 2, LLC, a Texas limited liability company. WITNESS my hand and official seal. My commission expires: Notary Public Exhibit A-1 — Construction Plans Exhibit A-2 — Engineer's Estimate of Costs EXHIBIT B AGREEMENT RESTRICTING TRANSFER,,OF LOTS • THIS AGREEMENT RESTRICTING TRANSFER OF LOTS (" Agreement") is entered into this day of , , 2016 by PMGC 2, LLC,("Owner") and the ,Board of County Commissioners of Garfield County, Colorado ("County"). RECITALS WHEREAS, Owner is the owner and developer of Phase II of the Pinyon Mesa subdivision, consisting of approximately 33.798 acres of real property which is legally described in that certain Warranty Deed recorded May 24, 2016 as Reception No. 877562 ("Subdivision"); and WHEREAS, a final subdivision plat for the, Subdivision was approved by the County and recorded on as , comprising thirty-two (321 single-family residential lots on the Property ("SubdivisionTh and WHEREAS, Owner and County entered into a Subdivision Improvements Agreement dated and recorded as Reception No. "SIA," which required pwner to provide security anamount ,equal to the cost of the public improvements to be completed in the Subdivision; T` and WHEREAS, the Garfield County Land Use and Development Code permits an applicant to provide security in the form of a restriction on conveyance of certain lots within the Subdivision; and WHEREAS, Owner desires to enter into this Agreement to provide the County with adequate security for the Improvements as defined in the SIA. NOW, THEREFORE, in consideration of the mutual covenants and promises contained herein, the parties agree as follows: ARTICLE 1 RESTRICTION ON TRANSFER 1.1 Transfer Restriction. Owner shall be prohibited from a Transfer of any portion of the real property described on Exhibit A ("Lots") until this Agreement is terminated by the parties as set forth herein and in the SIA. For purposes of this Agreement, the following events shall be referred to herein as a "Transfer": (i) a transfer or conveyance of title (or any portion thereof, legal or equitable) of the pts (or any part thereof or interest therein), (ii) the execution of a contract or agreement creating a right to title (or any portion thereof, legal or equitable) in the „Lots, including a contract for purchase of the Lot (or any part ______ Deleted: DEED OF TRUST (Due on Deleted: --Strict) Deleted: ¶ THIS DEED OF TRUST Deleted: made Deleted: August, Deleted: between Deleted: , a Texas limited liability company ("PMGC"), whose address is 6300 Ridglea Place, Suite 900, Fort Worth, TX 76116, Deleted: Public Trustee Deleted: , ("Trustee"); Deleted: benefit of THE BOARD OF COUNTY COMMISSIONERS OF THE COUNTY OF GARFIELD, COLORADO ("BOCC"), whose address is 108 8th Street, Glenwood Springs, CO 81601. Deleted: PMGC Deleted: BOCC covenant and agree as follows:¶ 1.. Property in Trust. PMGC, in consideration of the obligations set forth in that certain Deleted: Deleted: , on (" Deleted: "), hereby grants and conveys to Trustee in trust, with power of sale, the following described property located in the County of Garfield, State of Colorado: ¶ 11 Lots ,¶ Pinyon Mesa, Filing 211 .. according to the plat thereof recorded as Reception No. .¶ ¶ together with all its appurtenances ("Property").¶ 11 2. SIA; Other Obligations Secured; Subordination. This Deed of Trust is given to secure to BOCCI 1i A, . PMGC's obligations under the SIA, to nit, to secure the completion of public Improvements (as defined in the SIA) with an estimated cost of One -Million, Forty -Two Tho( [11 Deleted: under the SIA, and shall perform all of PMGC's other covenants contained in the Deleted: of this Deed of Trust. PMGC shall pay all taxes, assessments and other charges, fines and impositions ... [3] Deleted: at leas Deleted: lesser of (1) the insurable value of the Property or (2) an amount sufficient to pay the sums secured by thi 4 Deleted: The insurance carrier providing the insurance shall be qualified to write Property Insurance in Colo( [5] Deleted: Property Deleted: Property thereof or interest therein), (iii) or an agreement granting a possessory right in the ,Lot (or any portion thereof),,(iv) a sale or transfer of, or the execution of a contract or agreement creating a right to acquire or receive, more than fifty percent (50%) of the controlling interest or more than fifty percent (50%) of the beneficial interest in the Owner, (v) the reorganization, liquidation or dissolution of the Owner. 1.2 Remedies. In the event of,a Transfer, and at the,election of BOCC, the BOCC may ,immediately seek an injunction against such Transfer ,and may otherwise take actions to enforce the terms of the SLS 1.3 Release. Upon completion of all Improvements required by the SIA, upon request by Owner, the County shall enter into an agreement releasing this Agreement as set forth in the SIA. Upon the recordation of such release, this Agreement shall no longer encumber the Lots. 1.4. Other Lots Within Subdivision. This Agreement only encumbers the Lots, as specifically described above, and does not encumber any other portion of the Subdivision. ARTICLE 2 GENERAL PROVISIONS 2.1. Notices. All notices and demands required or permitted under this Agreement shall be in writing as follows: (1) by actual delivery of the notice to the party entitled to receive it; (2) by mailing such notice by certified mail, return receipt requested, in which case the notice shall be deemed to be given three days after the date of its mailing; or (3) by Federal Express or any other overnight carrier, in which case the notice shall be deemed to be given as of the date it is sent. All notices which concern this Agreement shall be sent or delivered, as the case may be, to the address of the appropriate party as set forth below, except if changed by a party by notice pursuant hereto: If addressed to Owner: PMGC 2, LLC, c/o Ronald Norman, Manager 265 Ponderosa Pass Carbondale, CO 81623 With a copy to: Balcomb & Green, P.C. Attn: Chad 1. Lee, Esq. P.O. Drawer 790 Deleted: Property Deleted: in excess of three (3) years, Deleted: PMGC, (v) the reorganization, liquidation or dissolution of the PMGC. Not to be included as a Transfer are (i) the creation of a lien or encumbrance subordinate to this Deed of Trust, (ii) the creation of a purchase money security interest for household appliances, or (iii) a transfer by devise, descent or by operation of the law upon the death of a joint tenant. At the election of BOCC, in the event of each and every transfer: Deleted: (a) . All sums secured by this Deed Deleted: Trust shall become immediately due and payable (Acceleration).¶ (b) . If Deleted: occurs and should BOCC not exercise BOCC's option pursuant to this paragraph 24 to Accelerate, Transferee shall be deemed to have assumed all of the obligations of PMGC under this Deed of Trust including all sums secured hereby whether or not Deleted: instrument evidencing such conveyance, contract or grant expressly so provides. This covenant shall run with the Property and remain in full force and effect until said sums are paid in full. Deleted: without notice to the PMGC deal with Transferee in the same manner as with the PMGC with reference to said sums including the payment or credit to Transferee of undisbursed reserve Funds on payment in full of said sums, without in any way altering or discharging the PMGC's liability hereunder for the obligations hereby secured.¶ (c) . Should BOCC not elect to Accelerate upon the occurrence of such Deleted: then, subject to (b) above, the mere fact of a lapse of time or the acceptance of payment subsequent to any of such events, whether or not BOCC had actual or constructive notice of such Transfer, shall not be deemed a waiver of BOCC's right to make such election nor shall BOCC be estopped therefrom by virtue thereof. The issuance on behalf of the BOCC of a routine statement showing the status of the loan, whether or not BOCC had actual or constructive notice of such Transfer, shall not be a waiver or estoppel of BOCC's said rights.¶ 11 il 25. PMGC's Copy. PMGC acknowledges receipt of a copy Deleted: and this Deed of Trust. Deleted: PMGC:5] Deleted: , Glenwood Springs, CO 81601 clee@balcombgreen.com If to County: Garfield County Commissioners 109 8th Street, Suite 213 Glenwood Springs, CO 81601 2.2 Choice of Law. This Agreement and each and every related document are to be governed and construed in accordance with the laws of the State of Colorado. 2.3 Waiver. No claim of waiver, consent or acquiescence with respect to any provision of this Agreement shall be valid against any party hereto except on the basis of a written instrument executed by the Parties to this Agreement. However, the party whose benefit a condition is inserted herein shall have the unilateral right to waive such condition. 2.4 Binding Nature. This Agreement shall constitute a covenant running with the title to the Lots as a burden thereon, for the benefit of, and enforceable by, the County. IN WITNESS WHEREOF, the parties hereto have executed this Deed Restriction on the day and year first written above. OWNER: PMGC 2, LLC, a Texas limited liability company By: Ronald Norman, Manager STATE OF COLORADO ) ) ss. COUNTY OF ) The foregoing instrument was acknowledged before me , 2016, by Ronald Norman Manager of PMGC 2, LLC, a Deleted: By: 11 Deleted: Deleted:) Deleted: Deleted: this day of August, Deleted: as Texas limited liability company. WITNESS my hand and official seal. My commission expires: Notary Public BOARD OF COUNTY COMMISSIONERS FOR THE COUNTY OF GARFIELD, STATE OF COLORADO By: Print Name: Title: Chairman ATTEST: Jean Alberico, Clerk and Recorder Garfield County, Colorado Deleted: ¶ ¶ By: EXHIBIT A LEGAL DESCRIPTION EXHIBIT C GARFIELD COUNTY TREASURER'S DEPOSIT AGREEMENT Pinyon Mesa Phase 2 REVEGETATION Owner: PMGC 2, LLC THIS 2016 GARFIELD COUNTY TREASURER'S DEPOSIT AGREEMENT — PINYON MESA PHASE 2 REVEGETATION ("Deposit Agreement") is entered into by and between the Garfield County Board of County Commissioners ("BOCC" or "beneficiary"), the Garfield County Treasurer, Georgia Chamberlain ("Treasurer"), and PMGC 2, LLC ("Owner"). Recitals The BOCC approved the Owner's Application for a Grading Permit for the Pinyon Mesa Phase 2 pursuant to Permit Number The Grading Permit requires provision of "Security for Revegetation" and Owner wishes to depositgood funds for such security. The BOCC is willing to allow Owner's use of a Garfield County Treasurer's Deposit Agreement as such financial assurance. The Treasurer is willing and able to hold such funds in accordance with the Treasurer's statutory duties outlined in C.R.S. §§ 30-10-701, et seq. and 30-1-102, as amended. Agreement NOW THEREFORE, in consideration of the foregoing Recitals, the parties agree as follows: 1. Pinyon Mesa Phase 2 Revegetation Treasurer's Account. Owner shall deposit with the Treasurer the sum of Twelve Thousand, Five Hundred Dollars ($12,500.00) to secure revegetation as required in the Grading Permit. In consideration of the service fee payable to the Treasurer identified in Paragraph 2, below the Treasurer shall place the funds in an interest bearing account and disburse funds there from in accordance with the terms of this Deposit Agreement. Such account shall be known as the "Pinyon Mesa Phase 2 Revegetation Treasurer's Account" and shall be subject to the terms and conditions of this Deposit Agreement. 2. Treasurer's Service Fee. The Treasurer's service fee shall be, in accordance with C.R.S. § 30-1-102(1)(c), as amended, one percent (1.0%) of the deposited funds, i.e., One Hundred and Twenty -Five Dollars ($125.00). The service fee covers administrative costs incurred by the Treasurer in distributing and accounting for the Pinyon Mesa Phase 2 Revegetation Treasurer's Account. Such fee shall be paid by Owner in cash or by check made payable to the Garfield County Treasurer, as identified in the "Receipt" section of this Deposit Agreement (page 5), on or before the date of execution of this Deposit Agreement. The service fee is deemed to be earned by the Treasurer upon execution of this Deposit Agreement. Interest earned on the Pinyon Mesa Phase 2 Revegetation Treasurer's Account shall be paid to Owner as part of the single disbursement detailed in Paragraph 3, below. The Treasurer shall thereafter provide to Owner a report of interest earned, as Deleted: IRREVOCABLE STANDBY LETTER OF CREDITI1 Reference k:¶ Amount: $12,50011 Date of Issue:1 Expiration Date:¶ 11 BENEFICIARY: . Board of County Commissioners of Garfield County ("Beneficiary" or "BOCC" )¶ required by state and federal tax law. Owner shall provide a completed Form W-9 to the Treasurer at the time the deposit is made. 3. Disbursement Procedure. Disbursement from the Pinyon Mesa Phase 2 Revegetation Treasurer's Account shall be made by the Treasurer upon the written direction of the BOCC, as follows: a. Request for Review and Approval. Upon complying with the two-year revegetation requirement, Owner shall obtain written approval from the Garfield County Vegetation Management Department of the required revegetation work. b. c. Deficiencies. If the Garfield County Vegetation Management Department refuses approval of the success of revegetation, the Garfield County Vegetation Management Department shall provide written notice of deficiency in substantial compliance with the provisions of the Grading Permit and Owner shall correct the identified deficiencies. Single Request for Disbursement. This Deposit Agreement does not provide for successive partial releases or disbursements from the Pinyon Mesa Phase 2 Revegetation Treasurer's Account. One (1) final disbursement shall be requested by Owner, upon completion of Revegetation. Owner specifically recognizes and agrees that partial releases are not allowed. d. Request for Disbursement/Release. Owner shall request disbursement by means of a written "Request for Disbursement," addressed to the BOCC and delivered to the Garfield County Building and Planning Department. The Request for Disbursement shall be accompanied by an approval statement from the Garfield County Vegetation Management Department. e. f. BOCC's Acknowledgment and Direction. Upon review of the submittals required by Paragraph 3.D., above, if the BOCC approves the statement from the Garfield County Vegetation Management Department, the BOCC shall issue its "Acknowledgment of Satisfaction and Direction to Treasurer", in a form substantially similar to that document attached to and incorporated herein by reference as "Exhibit A". BOCC's Completion of Revegetation. If, in the sole discretion of the BOCC, the Owner's revegetation success is deemed unsatisfactory within the period of time defined in Paragraph 4, below, or if the BOCC determines that Owner will not or cannot complete the revegetation under the Grading Permit, the BOCC may withdraw and employ from the Pinyon Mesa Phase 2 Revegetation Treasurer's Account such funds as may be necessary to carry out the revegetation. If funds are inadequate, responsibility to complete remaining Revegetation shall be that of the Owner, not the BOCC. If the BOCC elects to complete the Owner's revegetation work, expenditure on the effort shall be no more than the principal amount of the Pinyon Mesa Phase 2 Revegetation Treasurer's Account, plus interest, if interest is due Owner. If the cost of the revegetation to the BOCC is less than the amount available, the BOCC shall return the overage to Owner within a reasonable period of time following completion by the BOCC. 4. Term. The term of this Deposit Agreement shall begin on the date of execution, as defined below, and end on or before two years following approval of the Grading Permit. If Owner has failed to complete the Revegetation within this term, all funds held under this Agreement shall continue to be maintained by the Treasurer until needed for completion of revegetation by the BOCC under Paragraph 3.F. 5. Waiver, Consent and Indemnity. Owner consents to the disbursement procedure and other actions authorized and provided for by the terms of this Deposit Agreement. Owner waives any claim against the BOCC the Treasurer, their officers, employees, agents, and contractors, on account of each of their good faith performance of their obligations under this Deposit Agreement. Owner shall defend, indemnify and hold harmless the BOCC, the Treasurer, their officers, employees, agents, and contractors from and against any claim made on account of this Deposit Agreement. 6. Indemnification of Treasurer. Owner and the BOCC each shall mutually defend indemnify and hold the Treasurer harmless from any claim made. Owner and the BOCC each waive any claim against the Treasurer involving this Deposit Agreement unless such claim is premised upon the wanton and willful misconduct of the Treasurer. 7. Binding Effect. This Deposit Agreement shall be binding on the successors and assigns of all parties and shall terminate upon final disbursement of funds held by the Treasurer in the Pinyon Mesa Phase 2 Revegetation Treasurer's Account. 8. Immunity. Nothing contained in this Deposit Agreement constitutes a waiver of governmental immunity applicable to the BOCC under Colorado law. 9. No Agency. The making and execution of this Deposit Agreement shall not be deemed to create a partnership, joint venture, or agency or fiduciary relationship among the parties. 10. Integration. This Deposit Agreement constitutes the entire agreement among the parties pertaining to the method of deposit and disbursement of the Pinyon Mesa Phase 2 Revegetation Treasurer's Account. No supplement, modification or amendment of this Deposit Agreement, other than changes as to notice information, shall be binding unless executed in writing in a document of equal formality as this Deposit Agreement. 11. Notices. Any notice required or permitted by this Deposit Agreement shall be given in writing and shall be effective upon the date of delivery, or attempted delivery if delivery is refused. Delivery shall be made in person, or by certified return receipt requested U.S. Mail or receipted delivery service to: BOCC c/o Community Development Department attn: Director 108 8`" Street, 4`h Floor Glenwood Springs, CO 81601 J3arfield County Treasurer Georgia Chamberlain 109 8`h Street, Suite 204 Glenwood Springs, CO 81601 Deleted: suite 213 Deleted: ACCOUNT PARTY/Applicant: Owner: PMGC 2, LLC, c/o Ronald Norman, Manager 265 Ponderosa Pass Carbondale, CO 81623 With a‘copy to: Balcomb & Green, P.C. Attn: Chad J. Lee, Esq. P.O. Drawer 790 Glenwood Springs, CO 81601 clee@balcombgreen.com Changes in address, phone number and identity of contact person(s) shall be made in writing, and may be made without formal amendment of this Deposit Agreement. WHEREFORE, the parties have caused this Deposit Agreement to be effective on the date of execution by the BOCC, as beneficiary, noted below. BENEFICIARY: BOARD OF COUNTY COMMISSIONERS ATTEST: GARFIELD COUNTY, COLORADO By: Clerk to the Board John Martin, Chairman Date: DEPOSIT HOLDER: GARFIELD COUNTY TREASURER By: Georgia Chamberlain Treasurer Date: DEPOSITOR/OWNER: By: Ronald Norman, Manager Date: Deleted:, " Deleted: Texas limited liability company State of Colorado lss. County of Garfield Subscribed and sworn to before me this day of , 2016, by Witness my hand and official seal. My Commission expires: Notary Public RECEIPT Check No. Cash ; or Form W-9: Received By: Print Name: Title: Office of the Treasurer Date: Form 1099 shall be sent to: Exhibit A ,ACKNOWLEDGMENT OF SATISFACTION AND DIRECTION TO TREASURER TREASURER'S DEPOSIT AGREEMENT Recitals 1. , [a Colorado 1 Ian individual], entered into a 20 Garfield County Treasurer's Deposit Agreement with the Board of County Commissioners of Garfield County, Colorado,("BOCC") and the Treasurer of Garfield County, Colorado, ("Treasurer") dated and recorded on as Reception Number of the Real Estate Records of the Garfield County Clerk and Recorder ( "Deposit Agreement"). 2. has presented certification to the BOCC from a ll licensed engineer that construction of Improvements is final and/or written approval from the Garfield County Vegetation Manager that revegetation is successful related to Grading Permit number Acknowledgment NOW THEREFORE, at the request of and in consideration of the premises and the prior agreements contained in the Deposit Agreement the BOCC hereby: 1. acknowledges full satisfaction of the security requirements of the Grading Permit; 2. authorizes disbursement of funds from the Treasurer's Account in the amount of $ , resulting in a remaining balance of $ -0- , 3. authorizes and directs the Treasurer to release the funds held in the Treasurer's Account to an authorized representative of BOARD OF COUNTY COMMISSIONERS ATTEST: OF GARFIELD COUNTY, COLORADO By: Clerk to the Board John Martin, Chairman Date: Deleted: 11 Establishment/Face Amount/Purpose/Expiration Date/Tra nsferabilityll We hereby establish/issue/open, at the request of the Applicant/Account Party, Irrevocablell Standby Letter of Credit No. in an amount not to exceed Twelve Thousand, Five Hundred Dollars and no Cents ($12,500.00). 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"). This Letter of Credit expires at Bank, at p.m. Mountain Standard Time on , 20 . This letter is not transferable.¶ 11 Partial Releases') Partial draws are [are not] permitted. The BOCC may [may not] 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].11 11 Conditions for Payment to Beneficiary') Drafts submitted by Beneficiary must be accompanied by , the following documents:11 .,, [6] Deleted: in the amount of $ " manually signed by the Chairman or the BOCC's authorized representative.11 Fax of the Draw Documents is acceptable to our Fax No. . If presentation is made by fax, prompt phone notification must be given to (telephone no.), or (telephone no.). The fax presentation shall be deemed the original presentation. In the event of a full or final drawing the original standby Letter of Credit must be returned to bank by overnight courier at the time of fax presentation.11 [ [7] t. Deleted: . Deleted: Bank11 11 By 11 Name 1 Title 1 11 THIS ISA 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 RELEASE [8] EXHIBIT E REQUEST FOR FINAL RELEASE OF TRANSFER RESTRICTION Board of County Commissioners Garfield County, Colorado c/o Director of Building and Planning 108 8th Street, Suite 401 Glenwood Springs, CO 81601 RE: Pinyon Mesa Subdivision Phase 2 This request is written to formally notify the BOCC of work completed for,pinyon Mesa, Phase 2. As Owner [On behalf of the Owner], we request that the BOCC review the attached Engineer's Certificate of Completion and approve a full release of the ‘Restrictive Covenant in the amount of $ Attached is the certified original cost estimate and work completed schedule, showing that all improvements required by the Improvements Agreement and secured by the jtestrictive Covenant have been completed. Also enclosed are the following, required by the Improvements Agreement dated between Owner and the BOCC, recorded at Reception No. at the Real Estate Records of the Garfield County Clerk and Recorder (the "SIA"): 1. record drawings bearing the stamp of Owner's Engineer certifying that all improvements have been constructed in accordance with the requirements of the SIA, both in hand copy and digital format acceptable to the BOCC; and 2. copies of instruments conveying real property and other interests which Owner was obligated to convey to the homeowner's association or other entity at the time of final Plat Approval. If further information is needed, please contact at If you agree that the jtestrictive Covenant should be fully released, please complete a request for full release of the jtestrictive Covenant to the Garfield County Trustee and return the same to me. Owner or Owner's Representative/Engineer Deleted: DEED OF TRUST Deleted: 11 [Subdivision] [PUD] [LAND USE CHANGE PERMIT]. Deleted: Deed of Trust Deleted: Deed of Trust Deleted: Deed of Trust Deleted: Deed of Trust EXHIBIT F PINYON MESA FILING 2 SUBDIVISION IMPROVEMENTS AGREEMENT NOTICE REGARDING BUILDING PERMITS AND CERTIFICATES OF OCCUPANCY TO: ALL PURCHASERS OF HOME SITES WITHIN PINYON MESA FILING 2 YOU ARE HEREBY NOTIFIED under applicable Garfield County regulations, you may not commence construction of a residence within unincorporated Garfield County, including within the Pinyon Mesa Filing 2 Subdivision, prior to issuance of a building permit by Garfield County. Under the terms of the Subdivision Improvements Agreement between Garfield County and Pinyon Mesa Development, Inc., Garfield County will not issue building permits for property in Pinyon Mesa Filing 2, until: 1. The Owner/Developer has demonstrated to the satisfaction of the Carbondale Rural Fire Protection District that adequate water is available to the construction site for the Fire District's purposes. 2. A site-specific geo-technical study, completed by a registered Geo -Technical Engineer, has been presented to the Building and Planning Department for review, along with a registered design professional's certification that the structure design is based on the site-specific study. 3. The remaining 50% of the Garfield County Road Impact Fee is paid by the party seeking the building permit. Note: the owner/developer paid 50% of such fee as part of the subdivision approval process. Additionally, Garfield County will not issue Certificates of Occupancy for any structures within Pinyon Mesa Filing 2 until all of the subdivision improvements have been completed and are operational in accordance with the Subdivision Improvements Agreement between Garfield County and Pinyon Mesa Development, Inc. and until radon gas testing has been completed. Owner/Subdivider: PMGC 2, LLC By Ronald Norman, Manager Page 13: [1] Deleted Chad Lee 8/25/2016 5:24:00 PM 1 "), hereby grants and conveys to Trustee in trust, with power of sale, the following described property located in the County of Garfield, State of Colorado: Lots Pinyon Mesa, Filing 2 according to the plat thereof recorded together with all its appurtenances ("Property"). 2. SIA; Other Obligations Secured; Subordination. This Deed of Trust is given to secure to BOCC: as Reception No. A. PMGC's obligations under the SIA, to wit, to secure the completion of public Improvements (as defined in the SIA) with an estimated cost of One -Million, Forty -Two Thousand, Six Hundred and Forty Dollars and Fifty Cents; B. the performance of the covenants and agreements of PMGC herein contained. 3. Title. PMGC covenants that PMGC owns and has the right to grant and convey the Property, and warrants title to the same, subject to general real estate taxes for the current year, easements of record or in existence, and recorded declarations, restrictions, reservations and covenants, if any, as of this date. 4. Payment of Principal and Interest. PMGC shall promptly pay when due any payment Page 13: [2] Deleted Chad Lee 8/25/2016 5:24:00 PM under the SIA, and shall perform all of PMGC's other covenants contained in the SIA. 5. Application of Payments. All payments received by BOCC under the terms hereof shall be applied by BOCC first in payment of amounts disbursed by BOCC pursuant to paragraph 9 (Protection of BOCC's Security), and the balance in accordance with the terms and conditions of the SIA. 6. Prior Mortgages and Deeds of Trust; Charges; Liens. PMGC shall perform all of PMGC's obligations under any prior deed of trust and any other prior liens. Any default under any deed of trust or lien having priority over this Deed of Trust shall automatically constitute a default under this Deed of Trust. PMGC shall notify BOCC immediately in the event of any default under any deed of trust or lien having priority over this Deed of Trust. BOCC shall have the right to cure any default under any deed of trust or lien having priority over this Deed of Trust and any sums paid by BOCC in connection therewith shall be treated as amounts disbursed by BOCC to PMGC in accordance with this Deed of Trust to protect the Page 13: [3] Deleted Chad Lee 8/25/2016 5:24:00 PM of this Deed of Trust. PMGC shall pay all taxes, assessments and other charges, fines and impositions attributable to the Property which may have or attain a priority over this Deed of Trust, and leasehold payments or ground rents, if any, in the manner set out in paragraph 23 (Escrow Funds for Taxes and Insurance) or, if not required to be paid in such manner, by PMGC making payment when due, directly to the payee thereof. Despite the foregoing, PMGC shall not be required to make payments otherwise required by this paragraph if PMGC, after notice to BOCC, shall in good faith contest such obligation by, or defend enforcement of such obligation in, legal proceedings which operate to prevent the enforcement of the obligation or forfeiture of the Property or any part thereof, only upon PMGC making all such contested payments and other payments as ordered by the court to the registry of the court in which such proceedings are filed. 7. Property Insurance. PMGC shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire or hazards included within the term "extended coverage" Page 13: [4] Deleted Chad Lee 8/25/2016 5:24:00 PM lesser of (1) the insurable value of the Property or (2) an amount sufficient to pay the sums secured by this Deed of Trust as well as any prior encumbrances on the Property. All of the foregoing shall be known as "Property Insurance". Page 13: [5] Deleted Chad Lee 8/25/2016 5:24:00 PM The insurance carrier providing the insurance shall be qualified to write Property Insurance in Colorado and shall be chosen by PMGC subject to BOCC's right to reject the chosen carrier for reasonable cause. All insurance policies and renewals thereof shall include a standard mortgage clause in favor of BOCC, and shall provide that the insurance carrier shall notify BOCC at least ten (10) days before cancellation, termination or any material change of coverage. Insurance policies shall be furnished to BOCC at or before closing. BOCC shall have the right to hold the policies and renewals thereof. In the event of loss, PMGC shall give prompt notice to the insurance carrier and BOCC. BOCC may make proof of loss if not made promptly by PMGC. Insurance proceeds shall be applied to restoration or repair of the Property damaged, provided such restoration or repair is economically feasible and the security of this Deed of Trust is not thereby impaired. If such restoration or repair is not economically feasible or if the security of this Deed of Trust would be impaired, the insurance proceeds shall be applied to the sums secured by this Deed of Trust, with the excess, if any, paid to PMGC. If the Property is abandoned by PMGC, or if PMGC fails to respond to BOCC within 30 days from the date notice is given in accordance with paragraph 16 (Notice) by BOCC to PMGC that the insurance carrier offers to settle a claim for insurance benefits, BOCC is authorized to collect and apply the insurance proceeds, at BOCC's option, either to restoration or repair of the Property or to the sums secured by this Deed of Trust. Any such application of proceeds to principal shall not extend or postpone the due date of the installments referred to in paragraphs 4 (Payment of Principal and Interest) and 23 (Escrow Funds for Taxes and Insurance) or change the amount of such installments. Notwithstanding anything herein to the contrary, if under paragraph 18 (Acceleration; Foreclosure; Other Remedies) the Property is acquired by BOCC, all right, title and interest of PMGC in and to any insurance policies and in and to the proceeds thereof resulting from damage to the Property prior to the sale or acquisition shall pass to BOCC to the extent of the sums secured by this Deed of Trust immediately prior to such sale or acquisition. All of the rights of PMGC and BOCC hereunder with respect to insurance carriers, insurance policies and insurance proceeds are subject to the rights of any holder of a prior deed of trust with respect to said insurance carriers, policies and proceeds. 8. Preservation and Maintenance of Property. PMGC shall keep the Property in good repair and shall not commit waste or permit impairment or deterioration of the Property and shall comply with the provisions of any lease if this Deed of Trust is on a Leasehold. PMGC shall perform all of PMGC's obligations under any declarations, covenants, by-laws, rules, or other documents governing the use, ownership or occupancy of the Property. 9. Protection of BOCC's Security. Except when PMGC has exercised PMGC's rights under paragraph 6 above, if the PMGC fails to perform the covenants and agreements contained in this Deed of Trust, or if a default occurs in a prior lien, or if any action or proceeding is commenced which materially affects BOCC's interest in the Property, then BOCC, at BOCC's option, with notice to PMGC if required by law, may make such appearances, disburse such sums and take such action as is necessary to protect BOCC's interest, including, but not limited to: (a) any general or special taxes or ditch or water assessments levied or accruing against the Property; (b) the premiums on any insurance necessary to protect any improvements comprising a part of the Property; (c) sums due on any prior lien or encumbrance on the Property; (d) if the Property is a leasehold or is subject to a lease, all sums due under such lease; (e) the reasonable costs and expenses of defending, protecting, and maintaining the Property and BOCC's interest in the Property, including repair and maintenance costs and expenses, costs and expenses of protecting and securing the Property, receiver's fees and expenses, inspection fees, appraisal fees, court costs, attorney fees and costs, and fees and costs of an attorney in the employment of the BOCC or holder of the certificate of purchase; (f) all other costs and expenses allowable by the evidence of debt or this Deed of Trust, and (g) such other costs and expenses which may be authorized by a court of competent jurisdiction. PMGC hereby assigns to BOCC any right PMGC may have by reason of any prior encumbrance on the Property or by law or otherwise to cure any default under said prior encumbrance. Any amounts disbursed by BOCC pursuant to this paragraph 9, with interest thereon, shall become additional indebtedness of PMGC secured by this Deed of Trust. Such amounts shall be payable upon notice from BOCC to PMGC requesting payment thereof, and BOCC may bring suit to collect any amounts so disbursed plus interest specified in paragraph 2B (SIA; Other Obligations Secured). Nothing contained in this paragraph 9 shall require BOCC to incur any expense or take any action hereunder. 10. Inspection. BOCC may make or cause to be made reasonable entries upon and inspection of the Property, provided that BOCC shall give PMGC notice prior to any such inspection specifying reasonable cause therefor related to BOCC's interest in the Property. 11. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to BOCC as herein provided. However, all of the rights of PMGC and BOCC hereunder with respect to such proceeds are subject to the rights of any holder of a prior deed of trust. In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Deed of Trust, with the excess, if any, paid to PMGC. In the event of a partial taking of the Property, the proceeds remaining after taking out any part of the award due any prior lien holder (net award) shall be divided between BOCC and PMGC, in the same ratio as the amount of the sums secured by this Deed of Trust immediately prior to the date of taking bears to PMGC's equity in the Property immediately prior to the date of taking. PMGC's equity in the Property means the fair market value of the Property less the amount of sums secured by both this Deed of Trust and all prior liens (except taxes) that are to receive any of the award, all at the value immediately prior to the date of taking. If the Property is abandoned by PMGC, or if, after notice by BOCC to PMGC that the condemnor offers to make an award or settle a claim for damages, PMGC fails to respond to BOCC within 30 days after the date such notice is given, BOCC is authorized to collect and apply the proceeds, at BOCC's option, either to restoration or repair of the Property or to the sums secured by this Deed of Trust. Any such application of proceeds to principal shall not extend or postpone the due date of the installments referred to in paragraphs 4 (Payment of Principal and Interest) and 23 (Escrow Funds for Taxes and Insurance) nor change the amount of such installments. 12. PMGC Not Released. Extension of the time for payment or modification of amortization of the sums secured by this Deed of Trust granted by BOCC to any successor in interest of PMGC shall not operate to release, in any manner, the liability of the original PMGC, nor PMGC's successors in interest, from the original terms of this Deed of Trust. BOCC shall not be required to commence proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Deed of Trust by reason of any demand made by the original PMGC nor PMGC's successors in interest. 13. Forbearance by BOCC Not a Waiver. Any forbearance by BOCC in exercising any right or remedy hereunder, or otherwise afforded by law, shall not be a waiver or preclude the exercise of any such right or remedy. 14. Remedies Cumulative. Each remedy provided in the SIA and this Deed of Trust is distinct from and cumulative to all other rights or remedies under the SIA and this Deed of Trust or afforded by law or equity, and may be exercised concurrently, independently or successively. 15. Successors and Assigns Bound; Joint and Several Liability; Captions. The covenants and agreements herein contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of BOCC and PMGC, subject to the provisions of paragraph 24 (Transfer of the Property; Assumption). All covenants and agreements of PMGC shall be joint and several. The captions and headings of the paragraphs in this Deed of Trust are for convenience only and are not to be used to interpret or define the provisions hereof. 16. Notice. Except for any notice required by law to be given in another manner, (a) any notice to PMGC provided for in this Deed of Trust shall be in writing and shall be given and be effective upon (1) delivery to PMGC or (2) mailing such notice by first-class U.S. mail, addressed to PMGC at PMGC's address stated herein or at such other address as PMGC may designate by notice to BOCC as provided herein, and (b) any notice to BOCC shall be in writing and shall be given and be effective upon (1) delivery to BOCC or (2) mailing such notice by first-class U. S. mail, to BOCC's address stated herein or to such other address as BOCC may designate by notice to PMGC as provided herein. Any notice provided for in this Deed of Trust shall be deemed to have been given to PMGC or BOCC when given in any manner designated herein. 17. Governing Law; Severability. The SIA and this Deed of Trust shall be governed by the law of Colorado. In the event that any provision or clause of this Deed of Trust or the SIA conflicts with the law, such conflict shall not affect other provisions of this Deed of Trust or the SIA which can be given effect without the conflicting provision, and to this end the provisions of the Deed of Trust and SIA are declared to be severable. 18. Acceleration; Foreclosure; Other Remedies. Except as provided in paragraph 24 (Transfer of the Property; Assumption), upon PMGC's breach of any covenant or agreement of PMGC in this Deed of Trust, or upon any default in a prior lien upon the Property, (unless PMGC has exercised PMGC's rights under paragraph 6 above), at BOCC's option, all of the sums secured by this Deed of Trust shall be immediately due and payable (Acceleration). To exercise this option, BOCC may invoke the power of sale and any other remedies permitted by law. BOCC shall be entitled to collect all reasonable costs and expenses incurred in pursuing the remedies provided in this Deed of Trust, including, but not limited to, reasonable attorney's fees. If BOCC invokes the power of sale, BOCC shall give written notice to Trustee of such election. Trustee shall give such notice to PMGC of PMGC's rights as is provided by law. Trustee shall record a copy of such notice as required by law. Trustee shall advertise the time and place of the sale of the Property, for not less than four weeks in a newspaper of general circulation in each county in which the Property is situated, and shall mail copies of such notice of sale to PMGC and other persons as prescribed by law. After the lapse of such time as may be required by law, Trustee, without demand on PMGC, shall sell the Property at public auction to the highest bidder for cash at the time and place (which may be on the Property or any part thereof as permitted by law) in one or more parcel as Trustee may think best and in such order as Trustee may determine. BOCC or BOCC's designee may purchase the Property at any sale. It shall not be obligatory upon the purchaser at any such sale to see to the application of the purchase money. Trustee shall apply the proceeds of the sale in the following order: (a) to all reasonable costs and expenses of the sale, including, but not limited to, reasonable Trustee's and attorney's fees and costs of title evidence; (b) to all sums secured by this Deed of Trust; and (c) the excess, if any, to the person or persons legally entitled thereto. 19. PMGC's Right to Cure Default. Whenever foreclosure is commenced for nonpayment of any sums due hereunder, the owners of the Property or parties liable hereon shall be entitled to cure said defaults by paying all delinquent principal and interest payments due as of the date of cure, costs, expenses, late charges, attorney's fees and other fees all in the manner provided by law. Upon such payment, this Deed of Trust and the obligations secured hereby shall remain in full force and effect as though no Acceleration had occurred, and the foreclosure proceedings shall be discontinued. 20. Assignment of Rents; Appointment of Receiver; BOCC in Possession. As additional security hereunder, PMGC hereby assigns to BOCC the rents of the Property; however, PMGC shall, prior to Acceleration under paragraph 18 (Acceleration; Foreclosure; Other Remedies) or abandonment of the Property, have the right to collect and retain such rents as they become due and payable. BOCC or the holder of the Trustee's certificate of purchase shall be entitled to a receiver for the Property after Acceleration under paragraph 18 (Acceleration; Foreclosure; Other Remedies), and shall also be so entitled during the time covered by foreclosure proceedings and the period of redemption, if any; and shall be entitled thereto as a matter of right without regard to the solvency or insolvency of PMGC or of the then owner of the Property, and without regard to the value thereof. Such receiver may be appointed by any Court of competent jurisdiction upon ex parte application and without notice --notice being hereby expressly waived. Upon Acceleration under paragraph 18 (Acceleration; Foreclosure; Other Remedies) or abandonment of the Property, BOCC, in person, by agent or by judicially -appointed receiver, shall be entitled to enter upon, take possession of and manage the Property and to collect the rents of the Property including those past due. All rents collected by BOCC or the receiver shall be applied, first, to payment of the costs of preservation and management of the Property, second, to payments due upon prior liens, and then to the sums secured by this Deed of Trust. BOCC and the receiver shall be liable to account only for those rents actually received. 21. Release. Upon satisfaction of all obligations secured by the SIA, BOCC shall cause Trustee to release this Deed of Trust and shall produce for Trustee written confirmation executed by the BOCC that all obligations under the SIA have been completed and that PMGC is released therefrom. PMGC shall pay all costs of recordation and shall pay the statutory Trustee's fees. 22. Waiver of Exemptions. PMGC hereby waives all right of homestead and any other exemption in the Property under state or federal law presently existing or hereafter enacted. 23. Escrow Funds for Taxes and Insurance. [OMITTED]. 24. Transfer of the Property; Assumption. Page 23: [6] Deleted Chad Lee 8/25/2016 5:24:00 PM 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 Twelve Thousand, Five Hundred Dollars and no Cents ($12,500.00). 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"). This Letter of Credit expires at Bank, at p.m. Mountain Standard Time on , 20 . This letter is not transferable. Partial Releases Partial draws are [are not] permitted. The BOCC may [may not] 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]. Conditions for Payment to Beneficiary Drafts submitted by Beneficiary must be accompanied by the following documents: Beneficiary's signed statement executed by the Chairman of the BOCC or the BOCC's authorized designee stating: developer of Subdivision [PUD] is in default of its obligations set forth in that certain Subdivision Improvements Agreement between and the BOCC, dated , and recorded as Reception Number in Book at Page of the Real Estate Records of the Office of the Garfield County Clerk and Recorder. The original Letter of Credit, endorsed on the reverse side with the words: "Drawn by the Board Page 23: [7] Deleted Chad Lee 8/25/2016 5:24:00 PM in the amount of $ ," manually signed by the Chairman or the BOCC's authorized representative. Fax of the Draw Documents is acceptable to our Fax No. . If presentation is made by fax, prompt phone notification must be given to (telephone no.), or (telephone no.). The fax presentation shall be deemed the original presentation. In the event of a full or final drawing the original standby Letter of Credit must be returned to bank by overnight courier at the time of fax presentation. Cancellation This Letter of Credit and amendments, if any, must be returned to us for cancellation by Applicant/Account party 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 ( Revision), International Chamber of Commerce Publication Number 600 and the Uniform Commercial Code at C.R.S. § 4-1-101 et seq., as amended. The laws of the State of Colorado shall govern the validity, interpretation, performance and enforcement of this Letter of Credit, and mandatory exclusive venue for any judicial proceeding pertaining to this Letter of Credit shall be in a court of competent jurisdiction in Page 23: [8] Deleted Chad Lee 8/25/2016 5:24:00 PM By Name Title Bank THIS ISA 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. EXHIBIT D REQUEST FOR PARTIAL RELEASE OF SECURITY Board of County Commissioners Garfield County, Colorado c/o Director of Community Development 108 8th Street, Suite 401 Glenwood Springs, CO 81601 RE: Pinyon Mesa Subdivision, Phase 2 This request is written to formally notify the BOCC of work completed for Pinyon Mesa Subdivision, Phase 2. As Owner [On behalf of the Owner], we request that the BOCC review the attached Engineer's Certificate of Partial Completion and approve a reduction in the principal amount of and release lots from the Deed of Trust are appraised cumulatively at $ Attached is the certified original cost estimate and work completed schedule, showing: Engineer's 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 B&G BALc0MB & GREEN, Pc A FULL SERVICE LAW FIRM SINCE 1953 Chad J. Lee, Esq. Office Ph: (970) 945-6546 Facsimile (970) 945-8902 clee@balcombgreen.com July 15, 2016 VIA HAND DELIVERY TO: David Pesnichak, Senior Planner Garfield County Community Development Department 108 8th Street, Suite 401 Glenwood Springs, CO 81601 Re: Pinyon Mesa Subdivision Filing 2; Final Plat Application Dear David: Below is supplementary information in response to your completeness review letter dated July 7, 2016. Please let me know if you need any additional materials. 1. Resolution 2007-04 contains Conditions of Approval 2-19 that need to be addressed as a part of the application. Please provide a response to each of these conditions along with any requested or supporting documentation. Response: This application is for Phase 2 of the subdivision, which includes the remaining 32 lots within Pinyon Mesa. Currently, PMGC2, LLC is the owner of all of the real property known as Pinyon Mesa, Filing 2. The development was preliminarily approved via Resolution 2007-04, which contained several conditions of approval. Applicant will comply with all conditions of approval. Specifically, responses to conditions 2-19 are below. Resolution 2007-04 Conditions of Approval 2-19 2. All internal roads shall be designed to have to have a road surface of at least two 12 foot driving lanes with curb and gutter throughout the subdivision with a minimum right of way of 50 feet. Such design of the internal road system shall be consistent with the design proposed to the BOCC in the Preliminary Plan. Mailing Address: P.O. Drawer 790 Glenwood Springs, CO 81602 www.balcombgreen.com Glenwood Springs Office: 818 Colorado Avenue Glenwood Springs, CO (970) 945-6546 Aspen Office: 0133 Prospector Road, Ste. 4102E Aspen, CO 81611 (970) 920-5467 B&G BALCOMB & GREEN, pc A FULL SERVICE LAW FIRM SINCE 1953 Chad J. Lee, Esq. Re: Pinyon Mesa Subdivision Filing 2 July 15, 2016 Page 2 of 6 Pinyon Mesa Drive and Paintbrush Way are designed with a 22 -foot asphalt surface between curb and gutters for a total driving surface of 24 -feet curb to curb. The right of way is 50 feet wide. 3. The length of the cul-de-sac represented as Pinyon Mesa Drive shall be allowed to be designed, as shown, to 900 linear feet and the bulb at the end of the cul-de-sac may remain as designed with a landscaped island in the middle. 4. Applicant agrees to this condition. The Applicant shall furnish a design and specifications for the secondary emergency point at the end of Paintbrush Way that indicates the ability to handle large / emergency vehicles and methods of break -away gates or other appropriate mechanism to deter use unless for emergency. This shall be prepared and provided prior to final plat. The emergency access road, Paintbrush Way, which is the subject of this condition, is platted and designed as part of Phase 2. Refer to the Final Plat and Construction Drawings -include in this application. / 5. Applicant shall obtain a driveway access permit for both the main entrance into the project and �C' for the secondary emergency access point onto CR 114. These shall be obtained prior to final t (T lat. b- An existing access and gate for the Spring Valley Sanitation District lift station access is �otl cli located at the same spot as the Emergency Access Road, Paintbrush Way. This application % constitutes proper notice for the driveway access permit application. 6. The Applicant shall install a stop sign at each entrance to CR 114. The signs, posts and location shall be as required by the MUTCD (Manual on Uniform Traffic Control Devices). An intersection sign shall be placed on both sides of the main entrance to the subdivision alerting uphill and downhill traffic to the entrance. The signs, posts and installation shall be as required in the MUTCD (Manual on Uniform Traffic Control Devices). These signs were installed as part of the Filing 1 construction. 7. Pursuant to the suggestions by the Road and Bridge Department in Exhibit M, the Applicant may either 1) construct a right-hand turn lane on the uphill lane to the main entrance to the subdivision and be reimbursed by the total amount of Traffic Impact Fees required by the B&G BALCOMB & GREEN, PC A FULL SERVICE LAW FIRM SINCE 1953 Chad J. Lee, Esq. Re: Pinyon Mesa Subdivision Filing 2 July 15, 2016 Page 3 of 6 Development (approximately $150, 000.00) or 2) choose not to construct the improvement and only pay the Traffic Impact Fee. The right turn lane was designed and constructed with Filing 1. 8. he Applicant shall pay the appropriately calculated Traffic Impact Fee for Study Area 10 which results in a fee of approximately $149,292.00. Only half of this fee (approximately $74,646.00) is required to be paid at Final Plat with the remaining half to be amortized by way of individual building permits as the project develops over time. Phase 2 isxesponsible foii 40% (32/80) of the total fee, which amounts to $59,716.80. Only half of thi(fee ($29,858.40)s due at the time of Final Plat, with the remaining half to be amortized by 1n 1Vd al building permits as the project develops over time. Applicant is prepared to tender the amount due ($29,858.40) at the time of approval of the Final Plat in accordance with the Garfield County Land Use and Development Code. The Applicant shall cause the conveyance of the School Parcel by deed to the RE -1 School District prior to Final Plat or pay the appropriately calculated School Land Dedication Fee pursuant to the Subdivision Regulations. The School Parcel was conveyed to the School District by that certain deed recorded at Reception No. 723310 in accordance with Section 30-28-133(4). Therefore, this condition has been satisfied (See also, Pinyon Mesa Filing 1 SIA, recorded as Reception No. 734760, Paragraph 10). ]10. All development of this property shall follow the recommendations of the Colorado State Forest Service as stated in their letter dated August 28, 2006. (attached as Exhibit N to the StaffReport) which shall be incorporated into the CCRs as a requirement of the BOCC particularly as they relate to lots 17-20, 36-48, 66-72 and lots 59-65. The recommendations have been incorporated into the CCRs. 11. The Applicant shall pay in full the fire impact fee of $437 per dwelling unit to Carbondale Fire Protection District at the time of Final Plat. (This fee shall be $34,960.00). The attached application is for Phase 2 of Pinyon Mesa, comprised of 32 lots. This Phase reg_ujreyment of a proportionate amount of the fire impact fees ($437 x 32 UNITS) of ($13,984.00) Applicant will pay this amount upon approval, or as otherwise required by the 'County in accordance with the Garfield County Land Use and Development Code. BALCOMB & GREEN, Pc A FULL SERVICE LAW FIRM SINCE 1953 Chad J. Lee, Esq. Re: Pinyon Mesa Subdivision Filing 2 July 15, 2016 Page 4 of 6 I12. The Applicant shall incorporate the recommendations contained in the "Wildlife Analysis / Impact and Mitigation Report" prepared by Rocky Mountain Ecological Services, Inc. contained in the Application and shall be included as a component in the CCRs. The recommendations have been incorporated into the CCRs. 13. Prior to Final Plat submittal, the Applicant shall meet with the DOW in order to prepare an Elk Management Plan due to the amount of critical wintering habitat being eliminated with development. \Y\ {e This was completed as part of Filing 1. ,14. The Applicant shall cause the open space tracts to be deeded to the Homeowners Association as part of the Final Plat. This will be accomplished by the language on Page 1 of the Final Plat. 15. The Applicant shall provide a security for revegetation in the amount to be determined by the `- County Vegetation Manager (based on disturbed acreage) for all areas to be disturbed in connection with the final plat and the obligations of said security which security shall be incorporated in to Subdivision Improvements Agreement. The security shall be held by Garfield County until vegetation has been successfully re-established according to the Reclamation Standards in the Garfield County Vegetation Management Plan. The disturbed area is estimated to be 5 acres. The Applicant proposed to provide a Letter of Credit in the amount of $2,500.00 per acre for revegetation or $12,500.00. 16. The Applicant shall provide a Soil Management Plan that includes 1) provisions for salvaging on-site topsoil, 2) a timetable for eliminating topsoil and or/ aggregate piles, and 3) a plan that provides for soil cover if any disturbances or stockpiles will sit exposed for a period of 90 days or more. The Applicant shall prepare this plan to be submitted with the final plat documents so that the County can review prior to final plat approval. A Soil Management Plan is included within the Construction Plans included in this application. The topsoil and aggregate piles will be eliminated during the 2017 construction season. Plan notes and specifications require temporary mulching is required for all disturbances and stockpiles exposed for > 90 days. BALCOMB & GREEN, PC A FULL SERVICE LAW FIRM SINCE 1953 Chad J. Lee, Esq. Re: Pinyon Mesa Subdivision Filing 2 July 15, 2016 Page 5 of 6 /17. The Applicant shall follow all of the recommendations provided in the geotechnical analysis prepared by HP Geotech (reports in the Application and Exhibit S to the Staff Report) as well as follow the recommendations provided by the Colorado Geologic Survey in their letter dated August 30, 2006 also attached as Exhibit J to the staff report. The attached construction plans and specifications incorporate HP and CGS comments. ,✓ 18. All easements of record shall be shown on the Final Plat. All existing and proposed easements are shown on the Final Plat. 19. The Applicant shall include the six points provided in the letter from the Bureau of Land Management dated August 22, 2006 (and attached to the Staff report as Exhibit P) in the CCRs to place residents in the PUD on notice of these issues. The CCRs shall be provided as part of the Final Plat submittal. The recommendations have been incorporated into the CCRs. i20. The following plat notes shall be placed on the final plat. All of the indicated notes appear on Page 1 of the Final Plat documents. 2. Please provide a fully completed, but not executed, SIA with exhibits and engineering costs. Response: Enclosed is a fully completed draft SIA with exhibits and engineering costs. Please note that Applicant still intends to discuss alternatives to the LOC requirement as permitted by the Garfield County Land Use and Development Code including, for example, an escrow account with a title company. Applicant will follow up with the County Attorney's office for further discussions on this issue. 3. Per review of the Plat for conformance with Section 5-402(F) the following items need to be corrected on the Plat:.... Response: Enclosed is a revised plat incorporating all of these items. Thank you very much for your attention to this Application. As always, we look forward to working with you to process this request. BSG BALCOMB & GREEN, Pc A FULL SERVICE LAW FIRM SINCE 1953 Chad J. Lee, Esq. Re: Pinyon Mesa Subdivision Filing 2 July 15, 2016 Page 6 of 6 Very truly yours, BALCOMB & GREEN, P.C. By: CJL/bc Encls. xc: Ronald Norman Chad J. B&G BALCOMB & GREEN, PC A FULL SERVICE LAW FIRM SINCE 1953 Chad J. Lee, Esq.* Telephone (970) 945-6546 clee@balcombgreen.com *Licensed in CO, WY, and the U.S. Patent and Trademark Office September 6, 2016 VIA HAND DELIVERY TO: David Pesnichak, Senior Planner Garfield County Community Development Department 108 8th Street, Suite 401 Glenwood Springs, CO 81601 Re: Pinyon Mesa Subdivision Filing 2; Final Plat Application Dear David: Please find enclosed the following items: 1. Pinyon Mesa Filing 2 Subdivision Improvements Agreement with all Exhibits which has been executed by Ronald Norman on behalf of PMGC 2, LLC; 2. Three checks made out to the following entities: a. Check #1003 made payable to the Garfield County Treasurer in the amount of $12,500.00 regarding the re -vegetation security; b. Check #1004 made payable to the Garfield County Treasurer in the amount of $29,858.40 regarding 50% of the Road Impact Fee; and c. Check #1006 made payable to the Garfield County Treasurer in the amount of $125.00 regarding the Treasurer's Service Fee. We have also attached the executed Garfield County Treasurer's Deposit Agreement, Pinyon Mesa Phase 2 Revegetation. 3. The Agreement Restricting Transfer of Lots executed by Ronald Norman on behalf of PMGC 2, LLC; and 4. Mylar of the Final Plat of Pinyon Mesa, Filing 2 that has been executed by all parties except the Chairman of the Board of County Commissioners and the Clerk and Recorder. Also enclosed is a check made payable to the Garfield County Clerk and Recorder in the amount of $31.00 for recording the Final Plat. Basalt Office: 211 Midland Avenue, Ste. 201 Basalt, CO 81621 Glenwood Springs Office: 818 Colorado Avenue Glenwood Springs, CO 81601 Aspen Office: 0133 Prospector Road, Ste. 4102E Aspen, CO 81611 Mail to: P.O. Box 790, Glenwood Springs, CO 81602 • (970) 945-6546 • www.balcombgreen.com B G BALCOMB & GREEN, PC A FULL SERVICE LAW FIRM SINCE 1953 David Pesnichak September 6, 2016 Page 2 of 2 We have submitted payment to the Carbondale & Rural Fire Protection District in the amount of $23,360.00 and have signed a Fire Impact Fee Agreement. We will forward you a receipt as it becomes available. Thank you very much for your attention to this Application. Very truly yours, BALCOMB & GREEN, P.C. By: CJL/bc Encls. xc: Ronald Norman PINYON MESA FILING 2 SUBDIVISION IMPROVEMENTS AGREEMENT THIS PINYON MESA FILING 2 SUBDIVISION IMPROVEMENTS AGREEMENT ("Agreement") is made and entered into this day of , 2016, by and between PMGC 2, LLC, a Texas 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 WHEREAS, on February 5, 2007 the BOCC, by Resolution No. 2007-04, approved a preliminary plan for Phase III of the Los Amigos PUD, known as the Pinyon Mesa Subdivision which, among other things, would create eighty (80) single-family residential lots in 2 Phases, Phase I consisting of forty-eight (48) lots and Phase II consisting of thirty- two (32) lots ("Preliminary Plan Approval"); and WHEREAS, on , the Final Plat of Phase I of the Subdivision was recorded as Reception No. , which created forty-eight (48) lots; and WHEREAS, Owner is the owner and developer of Phase II of the Pinyon Mesa subdivision, consisting of approximately 33.798 acres of real property which is legally described in that certain Warranty Deed recorded May 24, 2016 as Reception No. 877562 ("Property"); and WHEREAS, Owner has submitted to the County for its approval a final subdivision plat ("Final Plat") for the second filing of the Subdivision, comprising thirty-two (32) single-family residential lots on the Property ("Subdivision"); and WHEREAS, as a condition of approval of the Final Plat of the Subdivision, submitted to the BOCC for approval as required by the laws of the State of Colorado, Owner wishes to enter into this Agreement with the BOCC; and WHEREAS, Owner has agreed to execute and deliver a specific form of collateral to the BOCC to secure and guarantee Owner's performance under this Agreement and has agreed to certain restrictions and conditions regarding the sale of properties and issuance of building permits and certificates of occupancy, all as more fully set forth below. NOW, THEREFORE, in consideration of the mutual covenants and promises contained herein, the parties agree as follows: 1. FINAL PLAT APPROVAL. The BOCC hereby accepts and approves the Final Plat of the Subdivision, on the date set forth above, subject to the terms and conditions of this Agreement, the Preliminary Plan Approval, and the requirements of the Garfield County zoning and subdivision regulations and any other governmental or quasi - governmental regulations applicable to the Subdivision ("Final Plat Approval"). This approval authorizes construction and development within Filing 2 of the Subdivision, as approved by the Preliminary Plan Approval. Recording of the Final Plat shall be in accordance with this Agreement and at the time prescribed herein. 2. OWNER'S PERFORMANCE. a. Completion Date/Substantial Compliance. Owner shall cause to be constructed and installed the subdivision improvements (collectively the "Improvements"), identified in subparagraphs i. and ii. below, at its own expense, including payment of fees required by the County and/or other governmental and quasi -governmental entities with jurisdiction. The Improvements shall be completed on or before the end of the first full year following execution of this Agreement ("Completion Date"), in substantial compliance with the following: i. Plans marked "Approved for Construction" for all on-site Improvements for the Subdivision, prepared by Schmeuser, Gordon, Meyer, Inc., under project number 01502H, and submitted to the BOCC on or about June 28, 2016, attached as Exhibit A-1 and the estimate of cost of completion, certified by and bearing the stamp of Owner's professional engineer licensed in the State of Colorado ("Owner's Engineer"), attached as Exhibit A-2; and all other documentation required to be submitted along with the Final Plat under pertinent sections of the Garfield County subdivision and zoning regulations ("Final Plat Documents"); ii. All requirements of the Preliminary Plan Approval; iii. All laws, regulations, orders, resolutions and requirements of the State of Colorado, Garfield County, and all special districts and any other governmental or quasi -governmental authority(ies) with jurisdiction; and iv. The provisions of this Agreement. b. Satisfaction of Subdivision Improvements Provisions. The BOCC agrees that if all Improvements are installed in accordance with this Paragraph 2; the record drawings are submitted upon completion of the Improvements as detailed in paragraph 3. f., below; and all other requirements of this Agreement, then the Owner shall be deemed to have satisfied all terms and conditions of the Garfield County zoning and subdivision regulations, with respect to the installation of Improvements. 3. SECURITY FOR IMPROVEMENTS. a. Restriction on Transfer. As security for Owner's obligation to complete the Improvements in accordance with this Agreement, Owner shall be restricted from selling, transferring, encumbering, or otherwise conveying certain Lots within the Subdivision with a cumulative value of at least $1,042,640.50, as determined by a licensed appraiser, which amount represents the full estimated cost of completing the Improvements, 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), minus the cost of Improvements already completed as of the date of execution of this Agreement, as set forth and certified by Owner's Engineer on Exhibit A-2, to guarantee completion of the Improvements. Owner has submitted an appraisal to the BOCC which finds that all Lots within the Subdivision range in value from $ to $ . For purposes of this Agreement, the parties shall stipulate that all lots within the Subdivision shall have a value of $ . Thus, to secure the restriction on transfer of a sufficient amount of Lots, Owner shall deliver to the BOCC, on or before the date of recording of the Final Plat of the Subdivision with the Garfield County Clerk and Recorder, a Restrictive Covenant in the form agreed to be acceptable to the BOCC, which is attached to and incorporated in this Agreement by reference as Exhibit B ("Restrictive Covenant") encumbering and adequate number of lots to reach a cumulative value of at least $1,042,640.50. b. Revegetation Security. Revegetation of disturbed areas in the Subdivision shall be secured by delivery of a Treasurer's Deposit Agreement substantially in a form acceptable to the BOCC, attached to and incorporated in this Agreement by reference as Exhibit C, in the amount of $12,500 from the Owner to the BOCC ("Revegetation TDA"). The Revegetation TDA shall be valid for a minimum of two (2) years following recording of the Final Plat. i. 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, at Book 1251, Page 566, as amended, and the Revegetation/Reclamation Plan for the Subdivision submitted as part of the Final Plat Documents. ii. Following receipt of written approval of the Vegetation Management Department, the Owner may submit to the BOCC, through the Building and Planning Department, a written request for release of the Revegetation TDA, 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. iii. 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 years following recording of the Final Plat. iv. If revegetation efforts are deemed unsuccessful within the two year period of time, in the sole discretion of the BOCC upon the recommendation of the Vegetation Management Department, or if the BOCC determines that the Owner will not or cannot complete revegetation, the BOCC may withdraw and employ from the Revegetation TDA such funds as may be necessary to carry out the revegetation work, up to the amount of Revegetation TDA. v. In lieu of or in addition to drawing on the Revegetation TDA, the BOCC may bring an action for injunctive relief or damages for the Owner's failure to adhere to the provisions of this Agreement related to revegetation. The BOCC shall provide the Owner a reasonable time to cure any identified deficiency prior to requesting payment from the Revegetation TDA or filing a civil action. vi. It is specifically understood that the Revegetation TDA is not subject to successive partial releases, as authorized in subparagraph 3(d) below. Further, the Revegetation TDA, and the BOCC's associated right to withdraw funds and bring a court action, may survive final release of the TDA and/or termination of this Agreement. c. Partial Releases of Transfer Restriction. Owner may request partial release(s) of the lots encumbered by the Restrictive Covenant by means of submission to the Building and Planning Department of a "Written Request for Partial Release of Transfer Restriction," in the form attached to and incorporated herein as Exhibit D, accompanied by the Owner's Engineer's Certificate of Partial Completion of Improvements, stamped by Owner's Engineer. The Owner's Engineer's seal shall certify that the Improvements have been constructed in accordance with the requirements of this Agreement, including all Final Plat Documents and the Preliminary Plan Approval. Owner may also request release for a portion of the security upon proof that 1) 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 2) 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 Security as portions of the Improvements, other than revegetation, required hereunder are certified as complete to the BOCC by the Owner's Engineer and said certification is approved by the BOCC. d. BOCC's Investigation. The BOCC shall be permitted to inspect and review the Improvements at any time during construction. For purposes of soliciting and encouraging an inspection, Owner shall contact [Insert County Representative, at (970) 945- 1. Notwithstanding the foregoing, upon submission of the Owner's Written Request for Partial Release of Security, along with Owner's Engineer's Certificate of Partial Completion of Improvements, the BOCC may review the certification and may inspect and review the 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 five (5) days of submission of Owner's Written Request for Partial Release of Security 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. 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, the BOCC shall furnish a letter of potential deficiency to the Owner, within five (5) days of submission of Owner's Written Request for Partial Release of Security accompanied by Owner's Engineer's Certificate of Completion of Improvements. iii. If a letter of potential deficiency is issued identifying a portion of the certified Improvements as potentially deficient, then all Improvements not identified as potentially deficient shall be deemed complete, and the BOCC shall authorize release of the amount of security related to the certified Improvements that are not identified as potentially deficient. iv. With respect to Improvements identified as potentially deficient in a letter of potential deficiency, the BOCC shall have five (5) days from the date of the letter to complete the initial investigation, 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, then the appropriate amount of security shall be authorized for release within ten (10) days after completion of such investigation. e. BOCC Completion of Improvements. If the BOCC finds, within the five (5) day period of time, defined in subparagraph 3 (e)(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 Security, the BOCC may expend such funds as may be necessary to construct the Improvements in accordance with the specifications. In such event, the BOCC shall make a written finding regarding Owner's failure to comply with this Agreement prior to enforcing this Agreement. In lieu of or in addition to enforcing this Agreement, the BOCC may bring an action for injunctive relief or damages for the Owner's failure to materially adhere to the provisions of this Agreement. The BOCC shall provide the Owner a reasonable time to cure any identified deficiency(ies) prior to executing on this Agreement. f. Final Release of Transfer Restriction. Upon completion of all Improvements, 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 Improvements have been constructed in accordance with the requirements of this Agreement, including all Final Plat Documents and the Preliminary Plan Approval, in hard copy and a digital format 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 Subdivision by the terms of this Agreement; and 3) a Written Request for Final Release of Security, in the form attached to and incorporated herein as Exhibit E, along with Owner's Engineer's Certificate of Final Completion of Improvements. i. The BOCC shall authorize a final release of the Restrictive Covenant 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, the BOCC shall authorize release of the final amount of security within ten (10) days following submission of the Owner's Written Request for Final Release of Security accompanied by the other documents required by this paragraph 3(g). ii. Notwithstanding the foregoing, upon Owner's Written Request for Final Release of Security 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(e) above shall be followed. iii. If the BOCC finds that the Improvements are complete, in accordance with the relevant specifications, the BOCC shall authorize release of the final amount of security within ten (10) days after completion of such investigation. If necessary, the BOCC may complete remaining Improvements in accordance with process outlined in Paragraph 3(0 above. g. Recording of Final Plat. The Final Plat of the Subdivision shall be recorded when the security described in this paragraph 3 has been received and approved by the BOCC. 4. WATER SUPPLY AND WASTEWATER COLLECTION. Prior to issuance of any certificates of occupancy by the BOCC for any residences or other habitable structures located and constructed within the Subdivision, Owner shall install and connect a water distribution system for potable water, fire protection and a wastewater/sewer collection system in accordance with approved plans and specifications. All easements and rights-of-way necessary for installation, operation, service and maintenance of such water supply and distribution system and wastewater collection system shall be as shown on the Final Plat. Conveyance of the system(s), including real and personal property interests, from the Owner to the Pinyon Mesa HOA and the Spring Valley Sanitation District shall be in accordance with Paragraph 7, below. 5. PUBLIC ROADS. All roads within the Subdivision shall be dedicated to the public as public rights-of-way. Road rights-of-way shall be dedicated by the Owner and accepted by the BOCC, on behalf of the public, on the face of the Final Plat. The Homeowners' Association of the Subdivision shall be solely responsible for the maintenance, repair and upkeep of said rights-of-way, including the traveled surface of the roadways and portions of the rights-of-way outside of the traveled surface. The BOCC shall not be obligated to maintain any road rights-of-way within the Subdivision. 6. PUBLIC UTILITY RIGHTS-OF-WAY. Whether or not utility easements exist elsewhere in the Subdivision, all road rights-of-way within the Subdivision, whether public or private, shall contain rights-of-way for installation and maintenance of utilities. Public utility easements shall be dedicated by the Owner and accepted by the BOCC, on behalf of the public, on the face of the Final Plat. The Homeowners' Association of 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 easements within the Subdivision. In the event a utility company, whether publicly or privately owned, requires separate conveyance by deed or otherwise, Owner shall also convey utility easements by separate document. 7. CONVEYANCE WATER SUPPLY SYSTEM/WASTEWATER COLLECTION SYSTEM. The Water Supply System and Wastewater Collection System(s) shall be conveyed by deed promptly following the completion of Improvements. 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 Agreement. 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 be required to 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 Sovereign Immunity granted to the BOCC by Colorado statutes and case law. 9. ROAD IMPACT FEE. Pursuant to the Garfield County subdivision regulations, a Road Impact Fee of $59,716.80 has been established for the residential units within the Subdivision. Owner is responsible for fifty percent (50%) of the Road Impact Fee, which is $29,858.40. Owner shall remit payment to the Garfield County Treasurer in the amount of $29,858.40 at or prior to the time of recording of the Final Plat. The remaining 50% ($29,858.40) will be collected pro rata from lot owners each time a building permit issues for a residence within the Subdivision. 10. SCHOOL LANDS/FEES IN LIEU. Previously a deed conveying land t o the Roaring Fork School District RE -1 has been recorded at Reception No. 723310 in Book 1926, at Page 0592, in accordance with Section 30-28-133(4), C.R.S., as amended. Therefore, Owner is not responsible for payment of fees in lieu of dedication of school; and. 11. COMPLIANCE WITH FIRE DISTRICT REQUIREMENTS. The Carbondale & Rural Fire District ("District") has reviewed and commented on this application. Per this review, the Owner shall: a. Install a water supply system pursuant to plans approved by the District's Fire Chief, including fire hydrants at the locations agreed upon between Owner and the District, shown on the Final Plat of the Subdivision; and b. Pay an impact fee to the District of $437 per dwelling unit at the time of Final Plat. For this Filing 2, the fee shall be $13,984.00. 12. 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. 13. BUILDING PERMITS AND CERTIFICATES OF OCCUPANCY. As one remedy for breach of this Agreement, the BOCC may withhold issuance of building permits for any structures requiring building permits within the Subdivision. Further, no building permit shall be issued unless the Owner demonstrates to the satisfaction of the Carbondale Rural Fire Protection District ("District") that there is adequate water available to the construction site for the District's purposes and all applicable District fees have been paid to the District. Further, the parties agree that no certificates of occupancy shall issue for any buildings or structures, including residences, within the Subdivision until all on- site Improvements have been completed and are operational as required by this Agreement. Owner shall provide the purchaser of a lot, prior to conveyance of the lot, a signed copy of a form in substantially the same form as that attached to and incorporated herein by reference as Exhibit F, concerning the restrictions upon issuance of building permits and certificates of occupancy detailed in this Agreement, Final Plat Approval and Preliminary Plan Approval. 14. ENFORCEMENT. In addition to any rights which may be provided by Colorado statute, the withholding of building permits and certificates of occupancy provided for in paragraph 13 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 Agreement. Nothing in this Agreement, however, shall be interpreted to require the BOCC to bring an action for enforcement or to withhold permits or certificates or to withdraw and use security. Nor shall this paragraph or any other provision of this Agreement be interpreted to permit the purchaser of a lot to file an action against the BOCC. 15. CONSENT TO VACATE PLAT. In the event the Owner fails to comply with the terms of this Agreement, 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 survey, legal description and a plat showing the location of any portion of the Final Plat so vacated and shall record the plat in the Office of the Garfield County Clerk and Recorder. If such plat is not recorded by the Owner, the BOCC may vacate the plat, or portions thereof, by Resolution. 16. NOTICE BY RECORDATION. This Agreement 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 Subdivision. Such recording shall constitute notice to prospective purchasers or other interested parties as to the terms and provisions thereof. 17. 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. 18. IDENTIFICATION OF CONTRACT ADMINISTRATORS AND NOTICE PROVISIONS. All notices required or permitted by this Agreement shall be in writing and shall be deemed effective when received by the recipient party via personal or messenger service delivery, facsimile transmission or United States certified mail (postage prepaid, return receipt requested), in all cases addressed to the person for whom it is intended at the address or facsimile number set forth below: Owner: Ronald Norman, Manager PMGC 2, LLC 265 Ponderosa Pass Carbondale, CO 81623 With Copy to: Chad J. Lee, Esq. BOCC: Balcomb & Green, P.C. 818 Colorado Avenue Glenwood Springs, CO 81601 Board of County Commissioners of Garfield County, Colorado c/o Planning Director 108 Eighth Street, Room 201 Glenwood Springs, CO 81601 Phone: (970) 945-8212 Fax: (970) 384-3470 The Representatives of the Owner and the BOCC, identified above, are the authorized representatives of the parties for purposes of contact administration and notice under this Agreement. 19. AMENDMENT. This Agreement may be modified from time to time, but only in writing signed by the parties hereto, as their interests then appear. The parties, however, may change the identification of notice recipients and contract administrators and the contact information, provided in paragraph 18 above, in accordance with the notice provisions and without formal amendment of this Agreement. 20. COUNTERPARTS. This Agreement 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. 21. VENUE AND JURISDICTION. Venue and jurisdiction for any cause arising out of or related to this Agreement shall lie with the District Court of Garfield County, Colorado, and this Agreement shall be construed according to the laws of the State of Colorado. IN WITNESS WHEREOF, the parties have signed this Agreement to be effective upon the date of Final Plat Approval for the Subdivision. OWNER: PMGC 2, LLC, a Texas limited liability company By: Ronald Norman, Manager BOARD OF COUNTY COMMISSIONERS FOR THE COUNTY OF GARFIELD, STATE OF COLORADO By: Print Name: Title: Chairman ATTEST: Jean Alberico, Clerk and Recorder Garfield County, Colorado STATE OF ) ) ss. COUNTY OF ) Subscribed and sworn to before me by Ronald Norman as Manager of PMGC 2, LLC, a Texas limited liability company. WITNESS my hand and official seal. My commission expires: Notary Public Exhibit A-1 — Construction Plans Exhibit A-2 — Engineer's Estimate of Costs EXHIBIT B AGREEMENT RESTRICTING TRANSFER OF LOTS THIS AGREEMENT RESTRICTING TRANSFER OF LOTS ("Agreement") is entered into this day of , 2016 by PMGC 2, LLC ("Owner") and the Board of County Commissioners of Garfield County, Colorado ("County"). RECITALS WHEREAS, Owner is the owner and developer of Phase II of the Pinyon Mesa subdivision, consisting of approximately 33.798 acres of real property which is legally described in that certain Warranty Deed recorded May 24, 2016 as Reception No. 877562 ("Subdivision"); and WHEREAS, a final subdivision plat for the Subdivision was approved by the County and recorded on as , comprising thirty-two (32) single-family residential lots on the Property ("Subdivision"); and WHEREAS, Owner and County entered into a Subdivision Improvements Agreement dated and recorded as Reception No. "SIA" which required Owner to provide security in an amount equal to the cost of the public improvements to be completed in the Subdivision; and WHEREAS, the Garfield County Land Use and Development Code permits an applicant to provide security in the form of a restriction on conveyance of certain lots within the Subdivision; and WHEREAS, Owner desires to enter into this Agreement to provide the County with adequate security for the Improvements as defined in the SIA. NOW, THEREFORE, in consideration of the mutual covenants and promises contained herein, the parties agree as follows: ARTICLE 1 RESTRICTION ON TRANSFER 1.1 Transfer Restriction. Owner shall be prohibited from a Transfer of any portion of the real property described on Exhibit A ("Lots") until this Agreement is terminated by the parties as set forth herein and in the SIA. For purposes of this Agreement, the following events shall be referred to herein as a "Transfer": (i) a transfer or conveyance of title (or any portion thereof, legal or equitable) of the Lots (or any part thereof or interest therein), (ii) the execution of a contract or agreement creating a right to title (or any portion thereof, legal or equitable) in the Lots, including a contract for purchase of the Lot (or any part thereof or interest therein), (iii) or an agreement granting a possessory right in the Lot (or any portion thereof), (iv) a sale or transfer of, or the execution of a contract or agreement creating a right to acquire or receive, more than fifty percent (50%) of the controlling interest or more than fifty percent (50%) of the beneficial interest in the Owner, (v) the reorganization, liquidation or dissolution of the Owner. 1.2 Remedies. In the event of a Transfer, and at the election of BOCC, the BOCC may immediately seek an injunction against such Transfer and may otherwise take actions to enforce the terms of the SIA. 1.3 Release. Upon completion of all Improvements required by the SIA, upon request by Owner, the County shall enter into an agreement releasing this Agreement as set forth in the SIA. Upon the recordation of such release, this Agreement shall no longer encumber the Lots. 1.4. Other Lots Within Subdivision. This Agreement only encumbers the Lots, as specifically described above, and does not encumber any other portion of the Subdivision. ARTICLE 2 GENERAL PROVISIONS 2.1. Notices. All notices and demands required or permitted under this Agreement shall be in writing as follows: (1) by actual delivery of the notice to the party entitled to receive it; (2) by mailing such notice by certified mail, return receipt requested, in which case the notice shall be deemed to be given three days after the date of its mailing; or (3) by Federal Express or any other overnight carrier, in which case the notice shall be deemed to be given as of the date it is sent. All notices which concern this Agreement shall be sent or delivered, as the case may be, to the address of the appropriate party as set forth below, except if changed by a party by notice pursuant hereto: If addressed to Owner: PMGC 2, LLC c/o Ronald Norman, Manager 265 Ponderosa Pass Carbondale, CO 81623 With a copy to: Balcomb & Green, P.C. Attn: Chad J. Lee, Esq. P.O. Drawer 790 Glenwood Springs, CO 81601 clee@balcombgreen.com If to County: Garfield County Commissioners 109 8th Street, Suite 213 Glenwood Springs, CO 81601 2.2 Choice of Law. This Agreement and each and every related document are to be governed and construed in accordance with the laws of the State of Colorado. 2.3 Waiver. No claim of waiver, consent or acquiescence with respect to any provision of this Agreement shall be valid against any party hereto except on the basis of a written instrument executed by the Parties to this Agreement. However, the party whose benefit a condition is inserted herein shall have the unilateral right to waive such condition. 2.4 Binding Nature. This Agreement shall constitute a covenant running with the title to the Lots as a burden thereon, for the benefit of, and enforceable by, the County. IN WITNESS WHEREOF, the parties hereto have executed this Deed Restriction on the day and year first written above. OWNER: PMGC 2, LLC, a Texas limited liability company By: Ronald Norman, Manager STATE OF COLORADO ) ) ss. COUNTY OF The foregoing instrument was acknowledged before me , 2016, by Ronald Norman, Manager of PMGC 2, LLC, a Texas limited liability company. WITNESS my hand and official seal. My commission expires: Notary Public BOARD OF COUNTY COMMISSIONERS FOR THE COUNTY OF GARFIELD, STATE OF COLORADO By: Print Name: Title: Chairman ATTEST: Jean Alberico, Clerk and Recorder Garfield County, Colorado EXHIBIT A LEGAL DESCRIPTION EXHIBIT C GARFIELD COUNTY TREASURER'S DEPOSIT AGREEMENT Pinyon Mesa Phase 2 REVEGETATION Owner: PMGC 2, LLC THIS 2016 GARFIELD COUNTY TREASURER'S DEPOSIT AGREEMENT — PINYON MESA PHASE 2 REVEGETATION ("Deposit Agreement") is entered into by and between the Garfield County Board of County Commissioners ("BOCC" or "beneficiary"), the Garfield County Treasurer, Georgia Chamberlain ("Treasurer"), and PMGC 2, LLC ("Owner"). Recitals The BOCC approved the Owner's Application for a Grading Permit for the Pinyon Mesa Phase 2 pursuant to Permit Number The Grading Permit requires provision of "Security for Revegetation" and Owner wishes to deposit good funds for such security. The BOCC is willing to allow Owner's use of a Garfield County Treasurer's Deposit Agreement as such financial assurance. The Treasurer is willing and able to hold such funds in accordance with the Treasurer's statutory duties outlined in C.R.S. §§ 30-10-701, et seq. and 30-1-102, as amended. Agreement NOW THEREFORE, in consideration of the foregoing Recitals, the parties agree as follows: 1. Pinyon Mesa Phase 2 Revegetation Treasurer's Account. Owner shall deposit with the Treasurer the sum of Twelve Thousand, Five Hundred Dollars ($12,500.00) to secure revegetation as required in the Grading Permit. In consideration of the service fee payable to the Treasurer, identified in Paragraph 2, below, the Treasurer shall place the funds in an interest bearing account and disburse funds there from in accordance with the terms of this Deposit Agreement. Such account shall be known as the "Pinyon Mesa Phase 2 Revegetation Treasurer's Account" and shall be subject to the terms and conditions of this Deposit Agreement. 2. Treasurer's Service Fee. The Treasurer's service fee shall be, in accordance with C.R.S. § 30-1-102(1)(c), as amended, one percent (1.0%) of the deposited funds, i.e., One Hundred and Twenty -Five Dollars ($125.00). The service fee covers administrative costs incurred by the Treasurer in distributing and accounting for the Pinyon Mesa Phase 2 Revegetation Treasurer's Account. Such fee shall be paid by Owner in cash or by check made payable to the Garfield County Treasurer, as identified in the "Receipt" section of this Deposit Agreement (page 5), on or before the date of execution of this Deposit Agreement. The service fee is deemed to be earned by the Treasurer upon execution of this Deposit Agreement. Interest earned on the Pinyon Mesa Phase 2 Revegetation Treasurer's Account shall be paid to Owner as part of the single disbursement detailed in Paragraph 3, below. The Treasurer shall thereafter provide to Owner a report of interest earned, as required by state and federal tax law. Owner shall provide a completed Form W-9 to the Treasurer at the time the deposit is made. 3. Disbursement Procedure. Disbursement from the Pinyon Mesa Phase 2 Revegetation Treasurer's Account shall be made by the Treasurer upon the written direction of the BOCC, as follows: a. b. c. d. e. f. Request for Review and Approval. Upon complying with the two-year revegetation requirement, Owner shall obtain written approval from the Garfield County Vegetation Management Department of the required revegetation work. Deficiencies. If the Garfield County Vegetation Management Department refuses approval of the success of revegetation, the Garfield County Vegetation Management Department shall provide written notice of deficiency in substantial compliance with the provisions of the Grading Permit and Owner shall correct the identified deficiencies. Single Request for Disbursement. This Deposit Agreement does not provide for successive partial releases or disbursements from the Pinyon Mesa Phase 2 Revegetation Treasurer's Account. One (1) final disbursement shall be requested by Owner, upon completion of Revegetation. Owner specifically recognizes and agrees that partial releases are not allowed. Request for Disbursement/Release. Owner shall request disbursement by means of a written "Request for Disbursement," addressed to the BOCC and delivered to the Garfield County Building and Planning Department. The Request for Disbursement shall be accompanied by an approval statement from the Garfield County Vegetation Management Department. BOCC's Acknowledgment and Direction. Upon review of the submittals required by Paragraph 3.D., above, if the BOCC approves the statement from the Garfield County Vegetation Management Department, the BOCC shall issue its "Acknowledgment of Satisfaction and Direction to Treasurer", in a form substantially similar to that document attached to and incorporated herein by reference as "Exhibit A". BOCC's Completion of Revegetation. If, in the sole discretion of the BOCC, the Owner's revegetation success is deemed unsatisfactory within the period of time defined in Paragraph 4, below, or if the BOCC determines that Owner will not or cannot complete the revegetation under the Grading Permit, the BOCC may withdraw and employ from the Pinyon Mesa Phase 2 Revegetation Treasurer's Account such funds as may be necessary to carry out the revegetation. If funds are inadequate, responsibility to complete remaining Revegetation shall be that of the Owner, not the BOCC. If the BOCC elects to complete the Owner's revegetation work, expenditure on the effort shall be no more than the principal amount of the Pinyon Mesa Phase 2 Revegetation Treasurer's Account, plus interest, if interest is due Owner. If the cost of the revegetation to the BOCC is less than the amount available, the BOCC shall return the overage to Owner within a reasonable period of time following completion by the BOCC. 4. Term. The term of this Deposit Agreement shall begin on the date of execution, as defined below, and end on or before two years following approval of the Grading Permit. If Owner has failed to complete the Revegetation within this term, all funds held under this Agreement shall continue to be maintained by the Treasurer until needed for completion of revegetation by the BOCC under Paragraph 3.F. 5. Waiver, Consent and Indemnity. Owner consents to the disbursement procedure and other actions authorized and provided for by the terms of this Deposit Agreement. Owner waives any claim against the BOCC, the Treasurer, their officers, employees, agents, and contractors, on account of each of their good faith performance of their obligations under this Deposit Agreement. Owner shall defend, indemnify and hold harmless the BOCC, the Treasurer, their officers, employees, agents, and contractors from and against any claim made on account of this Deposit Agreement. 6. Indemnification of Treasurer. Owner and the BOCC each shall mutually defend indemnify and hold the Treasurer harmless from any claim made. Owner and the BOCC each waive any claim against the Treasurer involving this Deposit Agreement, unless such claim is premised upon the wanton and willful misconduct of the Treasurer. 7. Binding Effect. This Deposit Agreement shall be binding on the successors and assigns of all parties and shall terminate upon final disbursement of funds held by the Treasurer in the Pinyon Mesa Phase 2 Revegetation Treasurer's Account. 8. Immunity. Nothing contained in this Deposit Agreement constitutes a waiver of governmental immunity applicable to the BOCC under Colorado law. 9. No Agency. The making and execution of this Deposit Agreement shall not be deemed to create a partnership, joint venture, or agency or fiduciary relationship among the parties. 10. Integration. This Deposit Agreement constitutes the entire agreement among the parties pertaining to the method of deposit and disbursement of the Pinyon Mesa Phase 2 Revegetation Treasurer's Account. No supplement, modification or amendment of this Deposit Agreement, other than changes as to notice information, shall be binding unless executed in writing in a document of equal formality as this Deposit Agreement. 11. Notices. Any notice required or permitted by this Deposit Agreement shall be given in writing and shall be effective upon the date of delivery, or attempted delivery if delivery is refused. Delivery shall be made in person, or by certified return receipt requested U.S. Mail or receipted delivery service to: BOCC c/o Community Development Department attn: Director 108 8th Street, 4th Floor Glenwood Springs, CO 81601 Garfield County Treasurer Georgia Chamberlain 109 8th Street, Suite 204 Glenwood Springs, CO 81601 Owner: PMGC 2, LLC c/o Ronald Norman, Manager 265 Ponderosa Pass Carbondale, CO 81623 With a copy to: Balcomb & Green, P.C. Attn: Chad J. Lee, Esq. P.O. Drawer 790 Glenwood Springs, CO 81601 clee@balcombgreen.com Changes in address, phone number and identity of contact person(s) shall be made in writing, and may be made without formal amendment of this Deposit Agreement. WHEREFORE, the parties have caused this Deposit Agreement to be effective on the date of execution by the BOCC, as beneficiary, noted below. ATTEST: BENEFICIARY: BOARD OF COUNTY COMMISSIONERS GARFIELD COUNTY, COLORADO By: Clerk to the Board John Martin, Chairman Date: By: Georgia Chamberlain, Treasurer DEPOSITOR/OWNER: DEPOSIT HOLDER: GARFIELD COUNTY TREASURER Date: By: Ronald Norman, Manager Date: State of Colorado ) )ss. County of Garfield ) Subscribed and sworn to before me this day of , 2016, by Witness my hand and official seal. My Commission expires: RECEIPT Check No. Cash ; or Form W-9: Received By: Print Name: Title: Date: Office of the Treasurer Form 1099 shall be sent to: Notary Public Exhibit A ACKNOWLEDGMENT OF SATISFACTION AND DIRECTION TO TREASURER TREASURER'S DEPOSIT AGREEMENT Recitals 1. [a Colorado ] [an individual], entered into a 20 Garfield County Treasurer's Deposit Agreement with the Board of County Commissioners of Garfield County, Colorado ("BOCC") and the Treasurer of Garfield County, Colorado ("Treasurer") dated and recorded on as Reception Number of the Real Estate Records of the Garfield County Clerk and Recorder ( "Deposit Agreement"). 2. has presented certification to the BOCC from a licensed engineer that construction of Improvements is final and/or written approval from the Garfield County Vegetation Manager that revegetation is successful related to Grading Permit number Acknowledgment NOW THEREFORE, at the request of and in consideration of the premises and the prior agreements contained in the Deposit Agreement the BOCC hereby: 1. acknowledges full satisfaction of the security requirements of the Grading Permit; 2. authorizes disbursement of funds from the Treasurer's Account in the amount of $ , resulting in a remaining balance of $ -0- , 3. authorizes and directs the Treasurer to release the funds held in the Treasurer's Account to an authorized representative of BOARD OF COUNTY COMMISSIONERS ATTEST: OF GARFIELD COUNTY, COLORADO By: Clerk to the Board John Martin, Chairman Date: EXHIBIT E REQUEST FOR FINAL RELEASE OF TRANSFER RESTRICTION Board of County Commissioners Garfield County, Colorado c/o Director of Building and Planning 108 8th Street, Suite 401 Glenwood Springs, CO 81601 RE: Pinyon Mesa Subdivision Phase 2 This request is written to formally notify the BOCC of work completed for Pinyon Mesa, Phase 2. As Owner [On behalf of the Owner], we request that the BOCC review the attached Engineer's Certificate of Completion and approve a full release of the Restrictive Covenant in the amount of $ Attached is the certified original cost estimate and work completed schedule, showing that all improvements required by the Improvements Agreement and secured by the Restrictive Covenant have been completed. Also enclosed are the following, required by the Improvements Agreement dated between Owner and the BOCC, recorded at Reception No. at the Real Estate Records of the Garfield County Clerk and Recorder (the "SIA"): 1. record drawings bearing the stamp of Owner's Engineer certifying that all improvements have been constructed in accordance with the requirements of the SIA, both in hand copy and digital format acceptable to the BOCC; and 2. copies of instruments conveying real property and other interests which Owner was obligated to convey to the homeowner's association or other entity at the time of final Plat Approval. If further information is needed, please contact , at If you agree that the Restrictive Covenant should be fully released, please complete a request for full release of the Restrictive Covenant to the Garfield County Trustee and return the same to me. Owner or Owner's Representative/Engineer EXHIBIT F PINYON MESA FILING 2 SUBDIVISION IMPROVEMENTS AGREEMENT NOTICE REGARDING BUILDING PERMITS AND CERTIFICATES OF OCCUPANCY TO: ALL PURCHASERS OF HOME SITES WITHIN PINYON MESA FILING 2 YOU ARE HEREBY NOTIFIED under applicable Garfield County regulations, you may not commence construction of a residence within unincorporated Garfield County, including within the Pinyon Mesa Filing 2 Subdivision, prior to issuance of a building permit by Garfield County. Under the terms of the Subdivision Improvements Agreement between Garfield County and Pinyon Mesa Development, Inc., Garfield County will not issue building permits for property in Pinyon Mesa Filing 2, until: 1. The Owner/Developer has demonstrated to the satisfaction of the Carbondale Rural Fire Protection District that adequate water is available to the construction site for the Fire District's purposes. 2. A site-specific geo-technical study, completed by a registered Geo -Technical Engineer, has been presented to the Building and Planning Department for review, along with a registered design professional's certification that the structure design is based on the site-specific study. 3. The remaining 50% of the Garfield County Road Impact Fee is paid by the party seeking the building permit. Note: the owner/developer paid 50% of such fee as part of the subdivision approval process. Additionally, Garfield County will not issue Certificates of Occupancy for any structures within Pinyon Mesa Filing 2 until all of the subdivision improvements have been completed and are operational in accordance with the Subdivision Improvements Agreement between Garfield County and Pinyon Mesa Development, Inc. and until radon gas testing has been completed. Owner/Subdivider: PMGC 2, LLC By Ronald Norman, Manager PINYON MESA FILING 2 SUBDIVISION LOCATED IN THE LOS AMIGOS PUD SUBDIVISION IMPROVEMENTS AGREEMENT THIS PINYON MESA FILING 2 SUBDIVISION ("Pinyon Mesa" or "Subdivision"), located in the Los Amigos PUD, SUBDIVISION IMPROVEMENTS AGREEMENT ("Agreement") is made and entered into this day of , 2016, by and between PMGC 2, LLC, a Texas 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 WHEREAS, Owner is the owner and developer of the Pinyon Mesa Filing 2 Subdivision, which property is depicted on the Final Plat of Pinyon Mesa Subdivision ("Final Plat" or "Final Plat of the Subdivision"); and WHEREAS, on February 5, 2007 the BOCC, by Resolution No. 2007-04, approved a preliminary plan for the Subdivision which, among other things, would create eighty (80) single-family residential lots ("Preliminary Plan Approval"); and WHEREAS, Owner has submitted to the County for its approval a final subdivision plat ("Final Plat") for the second filing of the subdivision, comprising thirty-two (32) single-family residential lots; and WHEREAS, as a condition of approval of the Final Plat of the Subdivision, submitted to the BOCC for approval as required by the laws of the State of Colorado, Owner wishes to enter into this Agreement with the BOCC; and WHEREAS, Owner has agreed to execute and deliver a specific form of collateral to the BOCC to secure and guarantee Owner's performance under this Agreement and has agreed to certain restrictions and conditions regarding the sale of properties and issuance of building permits and certificates of occupancy, all as more fully set forth below. NOW, THEREFORE, in consideration of the mutual covenants and promises contained herein, the parties agree as follows: 1. FINAL PLAT APPROVAL. The BOCC hereby accepts and approves the Final Plat of the Subdivision, on the date set forth above, subject to the terms and conditions of this Agreement, the Preliminary Plan Approval, and the requirements of the Garfield County zoning and subdivision regulations and any other governmental or quasi - governmental regulations applicable to the Subdivision ("Final Plat Approval"). This approval authorizes construction and development within Filing 2 of the Subdivision, as approved by the Preliminary Plan Approval. Recording of the Final Plat shall be in accordance with this Agreement and at the time prescribed herein. 2. OWNER'S PERFORMANCE. a. Completion Date/Substantial Compliance. Owner shall cause to be constructed and installed the subdivision improvements (collectively the "Improvements"), identified in subparagraphs i. and ii. below, at its own expense, including payment of fees required by the County and/or other governmental and quasi -governmental entities with jurisdiction. The Improvements shall be completed on or before the end of the first full year following execution of this Agreement ("Completion Date"), in substantial compliance with the following: i. Plans marked "Approved for Construction" for all on-site Improvements for the Subdivision, prepared by Schmeuser, Gordon, Meyer, Inc., under project number 01502H, and submitted to the BOCC on or about June 28, 2016; the estimate of cost of completion, certified by and bearing the stamp of Owner's professional engineer licensed in the State of Colorado ("Owner's Engineer"), attached to and made a part of this Agreement by reference as Exhibit "A"; and all other documentation required to be submitted along with the Final Plat under pertinent sections of the Garfield County subdivision and zoning regulations ("Final Plat Documents"); ii. All requirements of the Preliminary Plan Approval; iii. All laws, regulations, orders, resolutions and requirements of the State of Colorado, Garfield County, and all special districts and any other governmental or quasi- governmental authority(ies) with jurisdiction; and iv. The provisions of this Agreement. b. Satisfaction of Subdivision Improvements Provisions. The BOCC agrees that if all Improvements are installed in accordance with subparagraphs 2. a.i. through 2.d.iv., above; the record drawings to be submitted upon completion of the Improvements as detailed in paragraph 3.e., below; and all other requirements of this Agreement, then the Owner shall be deemed to have satisfied all terms and conditions of the Garfield County zoning and subdivision regulations, with respect to the installation of improvements. 3. SECURITY FOR IMPROVEMENTS. a. Letter of Credit. 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 of the Subdivision with the Garfield County Clerk and Recorder, one or more Letters of Credit in the form agreed to be acceptable to the BOCC, attached to and incorporated in this Agreement by reference as Exhibit "B" ("LOCs"), or such other form consistent with the Uniform Commercial Code and acceptable to the BOCC. The LOC(s) shall be in the amount of $1,042,640.50, representing the full estimated cost of completing the Improvements, 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), minus the cost of Improvements already completed as of the date of execution of this Agreement, for a total of $1,042,640.50, as set forth and certified by Owner's Engineer on Exhibit "A", to guarantee completion of the remaining Improvements. b. Revegetation Security. Revegetation of disturbed areas in the Subdivision shall be secured by delivery of a Letter of Credit in a form acceptable to the BOCC, attached to and incorporated in this Agreement by reference as Exhibit "C", in the amount of $12,500 from the Owner to the BOCC ("Revegetation LOC"). The Revegetation LOC shall be valid for a minimum of two (2) years following recording of the Final Plat. i. 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, at Book 1251, Page 566, as amended, and the Revegetation/Reclamation Plan for the Subdivision submitted as part of the Final Plat Documents. ii. Following receipt of written approval of the Vegetation Management Department, the Owner may submit to the BOCC, through the Building and Planning Department, a written request for release of the Revegetation LOC, 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. iii. 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 years following recording of the Final Plat. iv. If revegetation efforts are deemed unsuccessful within the two year period of time, in the sole discretion of the BOCC upon the recommendation of the Vegetation Management Department, 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. v. 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 Agreement 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. vi. It is specifically understood that the Revegetation LOC is not subject to successive partial releases, as authorized in subparagraph 3(d) below. Further, the Revegetation LOC, and the BOCC's associated right to withdraw funds and bring a court action, may survive final release of the LOC(s) and/or termination of this Agreement. c. LOC Requirements. The LOC(s) required by this Agreement shall be issued by a state or national banking institution acceptable to the BOCC. If the institution issuing the LOC(s) is not licensed in the State of Colorado and transacting business within the State of Colorado, the LOC(s) shall be "confirmed" within the meaning of the Uniform Commercial Code, Letters of Credit, §4-5-101 et seq., C.R.S., as amended, by a bank that is licensed to do business in the State of Colorado, doing business in Colorado, and acceptable to the BOCC. The LOC(s) shall state that presentation of drafts drawn under the LOC(s) shall be at an office of the issuer or confirmer located in the State of Colorado. The LOC(s) shall be valid for a minimum of six (6) months beyond the completion date for the Improvements set forth herein and, as to the Revegetation LOC, a minimum of two (2) years following recording of the Final Plat. If the time for completion of Improvements, including revegetation, is extended by a written amendment to this Agreement, the time period for the validity of the LOC(s) shall be similarly extended by the Owner. For each six (6) month extension, the face amount of the LOC(s), including the Revegetation LOC, at the sole option of the BOCC, shall be subject to recertification of cost of completion by Owner's Engineer and review by the BOCC for a possible increase in the face amount of the LOC, in order to assure sufficiency of the amount of security to allow possible completion of the Improvements by the BOCC under terms of this Agreement. Additionally, 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 Agreement shall become void and of no force and effect and the Final Plat shall be vacated pursuant to the terms of this Agreement. d. Partial Releases of Security. Owner shall request partial release(s) of the LOC(s) by means of submission to the Building and Planning Department of a "Written Request for Partial Release of LOC," in the form attached to and incorporated herein as Exhibit "D," accompanied by the Owner's Engineer's Certificate of Partial Completion of Improvements, stamped by Owner's Engineer. The Owner's Engineer's seal shall certify that the Improvements have been constructed in accordance with the requirements of this Agreement, including all Final Plat Documents and the Preliminary Plan Approval. Owner may also request release for a portion of the security upon proof that 1) 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 2) 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(s) as portions of the Improvements, other than revegetation, required hereunder are certified as complete to the BOCC by the Owner's Engineer and said certification is approved by the BOCC. e. 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 may inspect and review the 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. 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, the BOCC shall furnish a letter of potential deficiency to the Owner, within fifteen (15) days of submission of Owner's Written Request for Partial Release of LOC accompanied by Owner's Engineer's Certificate of Completion of Improvements. iii. If a letter of potential deficiency is issued identifying a portion of the certified Improvements as potentially deficient, then all Improvements not identified as potentially deficient shall be deemed complete, and the BOCC shall authorize release of the amount of security related to the certified Improvements that are not identified as potentially deficient. iv. With respect to Improvements identified as potentially deficient in a letter of potential deficiency, the BOCC shall have thirty (30) days from the date of the letter to complete the initial investigation, begun under subparagraph 3.b.iii., 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, then the appropriate amount of security shall be authorized for release within ten (10) days after completion of such investigation. f. BOCC Completion of Improvements. If the BOCC finds, within the thirty (30) day period of time, deemed in subparagraph 3 (e)(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, the BOCC may withdraw and employ from the LOC(s) such funds as may be necessary to construct the Improvements in accordance with the specifications, up to the face amount, or remaining face amount, of the LOC(s). In such event, the BOCC shall make a written finding regarding Owner's failure to comply with this Agreement prior to requesting payment from the LOC(s). In lieu of or in addition to drawing on the LOC(s), the BOCC may bring an action for injunctive relief or damages for the Owner's failure to adhere to the provisions of this Agreement. The BOCC shall provide the Owner a reasonable time to cure any identified deficiency(ies) prior to requesting payment from the LOC(s) or filing a civil action. g. Final Release of Security. Upon completion of all Improvements, 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 Improvements have been constructed in accordance with the requirements of this Agreement, including all Final Plat Documents and the Preliminary Plan Approval, in hard copy and a digital format 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 Subdivision by the terms of this Agreement; and 3) a Written Request for Final Release of LOC, in the form attached to and incorporated herein as Exhibit "E," along with Owner's Engineer's Certificate of Final Completion of Improvements. i. The BOCC shall authorize a final release of the LOC(s) 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 fords that the Improvements are complete, in accordance with the relevant specifications, the BOCC shall authorize release of the final amount of security within ten (10) days following submission of the Owner's Written Request for Final Release of LOC accompanied by the other documents required by this paragraph 3(g). 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(e) above shall be followed. iii. If the BOCC finds that the Improvements are complete, in accordance with the relevant specifications, the BOCC shall authorize release of the final amount of security within ten (10) days after completion of such investigation. If necessary, the BOCC may complete remaining Improvements in accordance with process outlined in Paragraph 3(f) above. h. Substitution of Letter of Credit. The BOCC, at its sole opinion, 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. i. Recording of Final Plat. The Final Plat of the Subdivision shall not be recorded until the security described in this paragraph 3 has been received and approved by the BOCC. 4. WATER SUPPLY AND WASTEWATER COLLECTION. Prior to issuance of any certificates of occupancy by the BOCC for any residences or other habitable structures located and constructed within the Subdivision, Owner shall install and connect a water distribution system for potable water, fire protection and a wastewater/sewer collection system in accordance with approved plans and specifications. All easements and rights-of-way necessary for installation, operation, service and maintenance of such water supply and distribution system and wastewater collection system shall be as shown on the Final Plat. Conveyance of the system(s), including real and personal property interests, from the Owner to the Pinyon Mesa HOA and the Spring Valley Sanitation District shall be in accordance with Paragraph 7, below. If a third party water or sewer entity requires warranty of the system(s), Owner shall provide proof to the BOCC that such warranty is in effect. 5. PUBLIC ROADS. All roads within the Subdivision shall be dedicated to the public as public rights-of-way. Road rights-of-way shall be dedicated by the Owner and accepted by the BOCC, on behalf of the public, on the face of the Final Plat. The Homeowners' Association of the Subdivision shall be solely responsible for the maintenance, repair and upkeep of said rights-of-way, including the traveled surface of the roadways and portions of the rights-of-way outside of the traveled surface. The BOCC shall not be obligated to maintain any road rights-of-way within the Subdivision. 6. PUBLIC UTILITY RIGHTS-OF-WAY. Whether or not utility easements exist elsewhere in the Subdivision, all road rights-of-way within the Subdivision, whether public or private, shall contain rights-of-way for installation and maintenance of utilities. Public utility easements shall be dedicated by the Owner and accepted by the BOCC, on behalf of the public, on the face of the Final Plat. The Homeowners' Association of 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 easements within the Subdivision. In the event a utility company, whether publicly or privately owned, requires separate conveyance by deed or otherwise, Owner shall also convey utility easements by separate document. 7. CONVEYANCE OF OPEN SPACE AND ROAD RIGHTS-OF- WAY/WATER SUPPLY SYSTEM/WASTEWATER COLLECTION SYSTEM. The Water Supply System and Wastewater Collection System(s) shall be conveyed by deed at the time of Final Plat Approval and shall be recorded following recordation of the Final Plat of the Subdivision. 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 Agreement. 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 be required to 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 Sovereign Immunity granted to the BOCC by Colorado statutes and case law. 9. ROAD IMPACT FEE. Pursuant to the Garfield County subdivision regulations, a Road Impact Fee of $59,716.80 has been established for the residential units within the Subdivision. Owner is responsible for fifty percent (50%) of the Road Impact Fee, which is $29,858.40. Owner shall remit payment to the Garfield County Treasurer in the amount of $29,858.40 at or prior to the time of recording of the Final Plat. The remaining 50% ($29,858.40) will be collected pro rata from lot owners each time a building permit issues for a residence within the Subdivision. 10. SCHOOL LANDS/FEES IN LIEU. Previously a deed conveying land to the Roaring Fork School District RE -1 has been recorded at Reception No. 723310 in Book 1926, at Page 0592, in accordance with Section 30-28-133(4), C.R.S., as amended. Therefore, Owner is not responsible for payment of fees in lieu of dedication of school; and. 11. COMPLIANCE WITH FIRE DISTRICT REQUIREMENTS. The Carbondale & Rural Fire District ("District") has reviewed and commented on this application. Per this review, the Owner shall: a. Install a water supply system pursuant to plans approved by the District's Fire Chief, including fire hydrants at the locations agreed upon between Owner and the District, shown on the Final Plat of the Subdivision; and b. Pay an impact fee to the District of $437 per dwelling unit at the time of Final Plat. For this Filing 2, the fee shall be $13,984.00. 12. 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. 13. BUILDING PERMITS AND CERTIFICATES OF OCCUPANCY. As one remedy for breach of this Agreement, the BOCC may withhold issuance of building permits for any residence or other habitable structure requiring a permit, and any structures requiring building permits on the Open Space/Common Area parcels to be constructed within the Subdivision. Further, no building permit shall be issued unless the Owner demonstrates to the satisfaction of the Carbondale Rural Fire Protection District ("District") that there is adequate water available to the construction site for the District's purposes and all applicable District fees have been paid to the District. Further, the parties agree that no certificates of occupancy shall issue for any buildings or structures, including residences, within the Subdivision until all on-site Improvements have been completed and are operational as required by this Agreement. Owner shall provide the purchaser of a lot, prior to conveyance of the lot, a signed copy of a form in substantially the same form as that attached to and incorporated herein by reference as Exhibit "F," concerning the restrictions upon issuance of building permits and certificates of occupancy detailed in this Agreement, Final Plat Approval and Preliminary Plan Approval. 14. ENFORCEMENT. In addition to any rights which may be 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 Agreement. Nothing in this Agreement, however, shall be interpreted to require the BOCC to bring an action for enforcement or to withhold permits or certificates or to withdraw and use security. Nor shall this paragraph or any other provision of this Agreement be interpreted to permit the purchaser of a lot to file an action against the BOCC. 15. CONSENT TO VACATE PLAT. In the event the Owner fails to comply with the terms of this Agreement, 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 survey, legal description and a plat showing the location of any portion of the Final Plat so vacated and shall record the plat in the Office of the Garfield County Clerk and Recorder. If such plat is not recorded by the Owner, the BOCC may vacate the plat, or portions thereof, by Resolution. 16. NOTICE BY RECORDATION. This Agreement 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 Subdivision. Such recording shall constitute notice to prospective purchasers or other interested parties as to the terms and provisions thereof. 17. 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. 18. IDENTIFICATION OF CONTRACT ADMINISTRATORS AND NOTICE PROVISIONS. All notices required or permitted by this Agreement shall be in writing and shall be deemed effective when received by the recipient party via personal or messenger service delivery, facsimile transmission or United States certified mail (postage prepaid, return receipt requested), in all cases addressed to the person for whom it is intended at the address or facsimile number set forth below: Owner: With Copy to: BOCC: Ronald Norman, Manager PMGC 2, LLC 265 Ponderosa Pass Carbondale, CO 81623 Chad J. Lee, Esq. Balcomb & Green, P.C. 818 Colorado Avenue Glenwood Springs, CO 81601 Board of County Commissioners of Garfield County, Colorado c/o Planning Director 108 Eighth Street, Room 201 Glenwood Springs, CO 81601 Phone: (970) 945-8212 Fax: (970) 384-3470 The Representatives of the Owner and the BOCC, identified above, are the authorized representatives of the parties for purposes of contact administration and notice under this Agreement. 19. AMENDMENT. This Agreement may be modified from time to time, but only in writing signed by the parties hereto, as their interests then appear. The parties, however, may change the identification of notice recipients and contract administrators and the contact information, provided in paragraph 18 above, in accordance with the notice provisions and without formal amendment of this Agreement. 20. COUNTERPARTS. This Agreement 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. 21. VENUE AND JURISDICTION. Venue and jurisdiction for any cause arising out of or related to this Agreement shall lie with the District Court of Garfield County, Colorado, and this Agreement shall be construed according to the laws of the State of Colorado. IN WITNESS WHEREOF, the parties have signed this Agreement to be effective upon the date of Final Plat Approval for the Subdivision. OWNER: PMGC 2, LLC, a Texas limited liability company By: Ronald Norman, Manager BOARD OF COUNTY COMMISSIONERS FOR THE COUNTY OF GARFIELD, STATE OF COLORADO By: Print Name: Title: Chairman ATTEST: Jean Alberico, Clerk and Recorder Garfield County, Colorado STATE OF ) ) ss. COUNTY OF ) Subscribed and sworn to before me by Ronald Norman as Manager of PMGC 2, LLC, a Texas limited liability company. WITNESS my hand and official seal. My commission expires: Notary Public Exhibit A Pinyon Mesa Phase II Public Improvements Cost Estimate Unit 1 Lump sum 2 Cubic Yard 3 Cubic Yard 4 Cubic Yard 5 Ton 6 Ton 7 Linear foot (LF) 8 Square feet 9 Each 10 LF 11 LF 12 Each 13 Cubic Yard 14 Each 15 LF 16 LF 17 Each 18 Each 19 Each 20 LF 21 Each 22 Each 23 Each 24 Each 25 Lump sum 26 LF 27 Each Description Mobilization Road over ex — recompact Cut Fill Pit run fill Class 6 road base Asphalt pavint Type 2 curb and gutter Valley Pans and Fillets 48" FES ADS N-12 18" ADS N-12 48" 18" FES Outlet rip rap Drain Inlet w/ 2' overex 8" PVC Sewer Pipe 8" Certa_Flo sewer pipe restrain Sewer Service Sewer Manholes with 2' overex Sewer Manholes with Dissipator 8"DIP Water Main Water Main Fittings 8" Gate Valve with Valve Box Fire Hydrant Assembly4 Water Service Erosion Control Shallow Utility Trenching Electric Vault Installation Unit Amount Unit Price SGM Total 1 $45,000.00 $45,000.00 12100 $7.00 $84,700.00 2200 $6.00 $13,200.00 4400 $8.00 $35,200.00 1900 $30.00 $57,000.00 1000 $105.00 $105,000.00 4400 $28.00 $123,200.00 1620 $9.00 $14,580.00 2 $600.00 $1,200.00 380 $40.00 $15,200.00 80 $115.00 $9,200.00 3 $300.00 $900.00 60 $60.00 $3,600.00 6 $3,800.00 $22,800.00 665 $35.00 $23,275.00 250 $90.00 $22,500.00 15 $2,600.00 $39,000.00 6 $4,600.00 $27,600.00 1 $4,900.00 $4,900.00 1900 $70.00 $133,000.00 8 $350.00 $2,800.00 3 $2,100.00 $6,300.00 4 $6.200.00 $24,800.00 32 $2,200.00 $70,400.00 1 $12,000.00 $12,000.00 4400 $8.75 $38,500.00 15 $800.00 $12,000.00 ITEM TOTAL $947,855.00 10 % Contingency $94,785.50 TOTAL W/ CONTINGENCY $1,042,640.50 Note: This cost estimate is an engineer's opinion of probable cost and is not a quotation or bid. As with any estimate, actual costs may vary due to unforeseen circumstances and market conditions EXHIBIT B IRREVOCABLE STANDBY LETTER OF CREDIT Reference #: Amount: $1,042,640.50 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: PMGC 2, LLC, a Texas limited liability company 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 One Million, Forty -Two Thousand, Six Hundred and Forty Dollars and Fifty Cents ($1,042,640.50). 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"). This Letter of Credit expires at Bank, at p.m. Mountain Standard Time on , 20_. This letter is not transferable. Partial Releases Partial draws are [are not] permitted. The BOCC may [may not] 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]. 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: , developer of Subdivision [PUD] is in default of its obligations set forth in that certain Subdivision Improvements Agreement between and the BOCC, dated and recorded as Reception Number in Book at Page 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 $ ," manually signed by the Chairman or the BOCC's authorized representative. 3. Fax of the Draw Documents is acceptable to our Fax No. . If presentation is made by fax, prompt phone notification must be given to (telephone no.), or (telephone no.). The fax presentation shall be deemed the original presentation. In the event of a full or final drawing the original standby Letter of Credit must be returned to bank by overnight courier at the time of fax presentation. Cancellation This Letter of Credit and amendments, if any, must be returned to us for cancellation by Applicant/Account party 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 ( Revision), International Chamber of Commerce Publication Number 600 and the Uniform Commercial Code at C.R.S. § 4-1-101 et seq., as amended. The laws of the State of Colorado shall govern the validity, interpretation, performance and enforcement of this Letter of Credit, and mandatory exclusive venue for any judicial proceeding pertaining to this Letter of Credit shall be in a court of competent jurisdiction in Garfield County, Colorado. By Name Title Bank THIS ISA 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. EXHIBIT C IRREVOCABLE STANDBY LETTER OF CREDIT Reference #: Amount: $12,500 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: PMGC 2, LLC, a Texas limited liability company 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 Twelve Thousand, Five Hundred Dollars and no Cents ($12,500.00). 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"). This Letter of Credit expires at Bank, at p.m. Mountain Standard Time on , 20 . This letter is not transferable. Partial Releases Partial draws are [are not] permitted. The BOCC may [may not] 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]. 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: , developer of Subdivision [PUD] is in default of its obligations set forth in that certain Subdivision Improvements Agreement between and the BOCC, dated and recorded as Reception Number in Book at Page 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 $ ," manually signed by the Chairman or the BOCC's authorized representative. 3. Fax of the Draw Documents is acceptable to our Fax No. . If presentation is made by fax, prompt phone notification must be given to (telephone no.), or (telephone no.). The fax presentation shall be deemed the original presentation. In the event of a full or final drawing the original standby Letter of Credit must be returned to bank by overnight courier at the time of fax presentation. Cancellation This Letter of Credit and amendments, if any, must be returned to us for cancellation by Applicant/Account party 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 ( Revision), International Chamber of Commerce Publication Number 600 and the Uniform Commercial Code at C.R.S. § 4-1-101 et seq., as amended. The laws of the State of Colorado shall govern the validity, interpretation, performance and enforcement of this Letter of Credit, and mandatory exclusive venue for any judicial proceeding pertaining to this Letter of Credit shall be in a court of competent jurisdiction in Garfield County, Colorado. By Name Title Bank THIS ISA 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. EXHIBIT D REQUEST FOR PARTIAL RELEASE OF LETTER OF CREDIT Board of County Commissioners Garfield County, Colorado c/o Director of Community Development 108 8th Street, Suite 401 Glenwood Springs, CO 81601 RE: Pinyon Mesa Subdivision, Phase 2 This request is written to formally notify the BOCC of work completed for Pinyon Mesa Subdivision, Phase 2. As Owner [On behalf of the 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 $ , to a reduced face amount of $ Attached is the certified original cost estimate and work completed schedule, showing: Engineer's 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 EXHIBIT E REQUEST FOR FINAL RELEASE OF LETTER OF CREDIT Board of County Commissioners Garfield County, Colorado c/o Director of Building and Planning 108 8th Street, Suite 401 Glenwood Springs, CO 81601 RE: Pinyon Mesa Subdivision Phase 2 This request is written to formally notify the BOCC of work completed for [Subdivision] [PUD] [LAND USE CHANGE PERMIT]. As Owner [On behalf of the Owner], we request that the BOCC review the attached Engineer's Certificate of Completion and approve a full release of the Letter of Credit in the amount of $ Attached is the certified original cost estimate and work completed schedule, showing that all improvements required by the Improvements Agreement and secured by the Letter of Credit have been completed. Also enclosed are the following, required by the Improvements Agreement [LAND USE CHANGE PERMIT] dated between Owner and the BOCC, recorded at Reception No. at the Real Estate Records of the Garfield County Clerk and Recorder (the "SIA"): 1. record drawings bearing the stamp of Owner's Engineer certifying that all improvements have been constructed in accordance with the requirements of the IA, both in hand copy and digital format acceptable to the BOCC; and 2. copies of instruments conveying real property and other interests which Owner was obligated to convey to the homeowner's association or other entity at the time of final Plat Approval. If further information is needed, please contact , at Owner or Owner's Representative/Engineer EXHIBIT F PINYON MESA FILING 2 SUBDIVISION IMPROVEMENTS AGREEMENT NOTICE REGARDING BUILDING PERMITS AND CERTIFICATES OF OCCUPANCY TO: ALL PURCHASERS OF HOME SITES WITHIN PINYON MESA FILING 2 YOU ARE HEREBY NOTIFIED under applicable Garfield County regulations, you may not commence construction of a residence within unincorporated Garfield County, including within the Pinyon Mesa Filing 2 Subdivision, prior to issuance of a building permit by Garfield County. Under the terms of the Subdivision Improvements Agreement between Garfield County and Pinyon Mesa Development, Inc., Garfield County will not issue building permits for property in Pinyon Mesa Filing 2, until: 1. The Owner/Developer has demonstrated to the satisfaction of the Carbondale Rural Fire Protection District that adequate water is available to the construction site for the Fire District's purposes. 2. A site-specific geo-technical study, completed by a registered Geo -Technical Engineer, has been presented to the Building and Planning Department for review, along with a registered design professional's certification that the structure design is based on the site-specific study. 3. The remaining 50% of the Garfield County Road Impact Fee is paid by the party seeking the building permit. Note: the owner/developer paid 50% of such fee as part of the subdivision approval process. Additionally, Garfield County will not issue Certificates of Occupancy for any structures within Pinyon Mesa Filing 2 until all of the subdivision improvements have been completed and are operational in accordance with the Subdivision Improvements Agreement between Garfield County and Pinyon Mesa Development, Inc. and until radon gas testing has been completed. Owner/Subdivider: PMGC 2, LLC By Ronald Norman, Manager