HomeMy WebLinkAbout1.0 Third Amendment to SIA1111111111111111111111111111 111111111111111111111111111
597597 02/20/2002 10:29A B1330 P418 (1 ALSDORF
1 of 2 R 0.00 D 0.00 GARFIELD COUNTY CO
THIRD AMENDMENT
TO SUBDIVISION IMPROVEMENTS AGREEMENT
ROSE RANCH PLANNED UNIT DEVELOPMENT, PHASE 1
THIS THIRD AMENDMENT TO SUBDIVISION IMPROVEMENTS
AGREEMENT is made and entered into this 19th day of February, 2002, by and between L.B.
Rose Ranch, LLC, a Delaware limited liability company ("Owner") and the Board of County
Commissioners of Garfield County, Colorado ("County").
WHEREAS, on September 13, 1999, Owner and the County executed pursuant to the
requirements and provisions of Section 5:31 of the Garfield County Subdivision Regulations, as
amended, a Subdivision Improvements Agreement which addresses and concerns the
construction and completion of the public and other improvements to be contained within the
Rose Ranch Planned Unit Development, Phase 1 ("Subdivision Improvements");
WHEREAS, under the SIA, Owner was required to complete construction of the
Subdivision Improvements on or before September 1, 2000;
WHEREAS, on July 10, 2000, and for the purpose of accommodating the delays
incurred by Owner in the filing of the final plat for the Rose Ranch Planned Unit Development,
Phase 1, Owner and the County amended the SIA ("First Amendment") for the purpose of
extending the date for completion of Subdivision Improvements to September 1, 2001;
WHEREAS, on September 1, 2000, the final plat for the Rose Ranch Planned Unit
Development, Phase 1 ("Final Plat") was filed in the records of the Clerk and Recorder for
Garfield County, Colorado. Coincident with the filing of the Final Plat, Owner and the County
further amended the SIA (Second Amendment) to allow Owner the flexibility of posting "other
acceptable security" for the completion of the Subdivision Improvements:
WHEREAS, completion of construction of the Subdivision Improvements under the
SIA, as amended, is presently secured under the Letter of Credit issued by Key Bank (No.
500/97109) on November 6, 2000.
WHEREAS, Owner will be unable to complete construction of all the Subdivision
Improvements by September 1, 2001 — the completion date established under the First
Amendment;
E:IWP Docs\FelicialTim\RoseRanch.third.sia.extension.02.13.02.wpd
Rose Ranch
Third Amendment To Subdivision Improvements Agreement
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WHEREAS, Owner and the County have agreed to extend the time period for
construction of the Subdivision Improvements to allow completion thereof in accordance with
Owner's anticipated construction schedule.
NOW THEREFORE, for and in consideration of the premises and the following mutual
covenants and agreements, Owner and the County agree as follows:
1. The time period for completion of construction of the Subdivision Improvements
under the SIA, as amended, is hereby extended to March 1, 2002, which date corresponds to the
expiration date of the Letter of Credit.
2. All remaining terms and provisions of the SIA, as amended, not addressed or
otherwise affected by this Third Amendment to Subdivision Improvements shall remain
unaffected by the same and in full force and effect.
2001
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ENTERED INTO this day and year first above written, nunc pro tunc September 17,
t -_
L.B. ROSE RANCH, LLC
a Delaware limited liabili
mpany
. Thulson, Attorney in Fact for
L.B. Rose Ranch, LLC
BOARD OF COUNTY COMMISSIONERS OF
GARFIELD FfaqTY, COLORADO
Rose Ranch
Third Amendment To Subdivision Improvements Agreement
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