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HomeMy WebLinkAbout15.0 Draft Improvements AgreementAspen Valley Polo Club Subdivision Subdivision Improvements Agreement THIS Subdivision Improvements Agreement (SIA) is made and entered into this day of , 201, by and between Aspen Polo Partners, LLP, a Colorado limited liability partnership, (Owner) and the BOARD OF COUNTY COMMISSIONERS OF GARFIELD COUNTY, COLORADO, acting for the Garfield County ("County"), Colorado, as a body politic and corporate, directly or through its authorized representatives and agents (BOCC). RECITALS: A. Owner is the owner and developer of the Aspen Valley Polo Club Subdivision (Subdivision), which property is depicted on the Final Plat of Subdivision ((Final Plat). The real property subject to this SIA is described in that Final Plat, recorded at Reception Number of the real estate records of Garfield County, Colorado. B. On , 201, the BOCC, by Resolution No. , recorded at Reception Number in Garfield County, Colorado, approved a preliminary plan for the Subdivision which would create [equestrian] [agricultural] [single-family] [multi -family] residential lots [and open space and common area parcels](Preliminary Plan Approval). C. As a condition precedent to the approval of the Final Plat submitted to the BOCC as required by Colorado laws and by the Garfield County Land Use and Development Code of 2013, as amended ("LUDC"), Owner wishes to enter into this SIA with the BOCC. D. Owner has agreed to execute and deliver security in a form satisfactory 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 within the subdivision as more fully set forth below. E. Owner represents that at the time of recording this SIA, all taxes and assessments upon all parcels of real estate described in the Final Plat are paid in full. DRAFT Page Jof14 AGREEMENT: NOW, THEREFORE, in consideration of the foregoing recitals and the mutual covenants and promises contained herein, the BOCC and Owner (Parties) agree as follows: 1. Recitals. The foregoing recitals set forth above as A through E are true and correct. 2. Final Nat 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 SIA, the Preliminary Nan Approval, the requirements of the LUDC, and any other governmental or quasi -governmental regulations applicable to the Subdivision (Final Plat Approval). Recording of the Final Plat in the records of the Garfield County Clerk and Recorder shall be in accordance with this SIA and at the time prescribed herein. 3. Owner's Performance of Subdivision Improvements. 3.1. Completion Date and Substantial Compliance. Except as otherwise provided in this SIA with regard to the Affordable Housing Units Owner shall cause to be constructed and installed the] [has constructed and installed certain and shall cause to be constructed and installed other] subdivision improvements, [including off-site improvements,] identified in the Exhibits defined in below (Subdivision Improvements) at Owner's expense, including payment of fees required by the County and other governmental and quasi -governmental entities with regulatory jurisdiction over the Subdivision. The Subdivision Improvements, except for revegetation, shall be completed on or before the end of the first full year following execution of this SIA (Completion Date), in substantial compliance with the following: 3.1.1. Plans marked "Approved for Construction"( for all Subdivision Improvements prepared by and submitted to the BOCC on , 201, such plans being summarized in the list of drawings attached to and made a part of this SIA by reference as Exhibit A; the estimate of cost of completion, certified by and bearing the stamp of Owner's professional engineer licensed in Colorado (Owner's Engineer), attached to this SIA as Exhibit B, which estimate shall include an additional ten (io%) percent of the total for contingencies; 3.1.2. All requirements of the Preliminary Plan Approval; DRAFT Page 2of14 3.1.3. All laws, regulations, orders, resolutions and requirements of the County and all special districts and any other governmental entity or quasi -governmental authority with jurisdiction; and 3.1.4. The provisions of this SIA and all other documentation required to be submitted along with the Final Nat under pertinent sections of the LUDC (Final Plat Documents. Notwithstanding anything to the contrary contained in this SIA, the timing requirements and criteria for substantial completion of the Affordable Housing Units shall be as set forth in paragraph 5 below. 3.2. Satisfaction of Subdivision Improvements Provisions. The BOCC agrees that if all Subdivision Improvements are constructed and installed in accordance with this paragraph 3; the record drawings have been submitted upon completion of the Subdivision Improvements, as detailed in paragraph 4, below; and all other requirements of this SIA have been satisfied, then the Owner shall be deemed to have satisfied all terms and conditions of the Preliminary Plan Approval, the Final Plat Documents and the LUDC, with respect to the installation of Subdivision Improvements. 4. Security for Subdivision Improvements (Except re -vegetation). 4.1. Subdivision Improvements Security and Substitute Collateral. As security for Owner's obligation to complete the Subdivision Improvements [if revegetation is required: other than revegetation,] Owner shall deliver to the BOCC, on or before the date of recording of the Final Nat of the Subdivision, a form of security deemed adequate by the BOCC and payable to the County, attached hereto as Exhibit C (Security). The Security shall be in an amount equal to the estimate of the cost to complete the Subdivision Improvements, plus an additional ten (io%) percent of the total for contingencies, as set forth and certified by Owner's Engineer licensed in Colorado on the attached Exhibit D (collectively, the Cost Estimate). The Security shall be valid for a minimum of six (6) months beyond the Completion Date (Expiration Date). 4.2 Security Requirements and Plat Recording. The Final Plat of the Subdivision shall not be recorded until the Security has been received by the County and approved by the BOCC. DRAFT Page 3of14 4.3. Extension of Expiration Date. If the Completion Date is extended by a written amendment to this SIA, the time period for the validity of the Security shall be similarly extended by the Owner. For each individual extension that is in excess of six (6) months, at the sok option of the BOCC, the cost of completion of the remaining Subdivision Improvements shall be subject to re -certification by Owner's Engineer and review by the BOCC. To the extent the cost of completion of the Subdivision Improvements, plus an additional ten (io%) percent of such cost for contingencies, differs from the face amount of the remaining Security, the amount of such Security shall be adjusted upwards or downwards, as appropriate. 4.4 Unenforceable Security. Should the Security expire or become void or unenforceable for any reason prior to the BOCC's approval of Owner's Engineer's certification of completion of the Subdivision Improvements or with regard to the Affordable Housing Units, prior to the issuance of a Certificate of Occupancy for the last Affordable Housing Unit required under this SIA, including bankruptcy of the Owner or the financial institution issuing or confirming the Security, this SIA shall be voidable by action of the BOCC and, upon such action, this SIA shall be of no further force and effect and the Final Plat shall be vacated pursuant to the terms of this SIA. 4.5. Partial Releases of Security. Owner may request partial releases of the Security, and shall do so by means of submission to the Community Development Department of a "Written Request for Partial Release of Security," in the form attached to as Exhibit E, accompanied by the Owner's Engineer' stamped certificate of partial completion of improvements. The Owner's Engineer's seal shall certify that the Subdivision Improvements have been constructed in accordance with the requirements of this SIA, including all Final Plat Documents and the applicable provisions of the Preliminary Plan. The BOCC shall authorize successive releases of portions of the face amount of the Security as portions of the Subdivision Improvements are certified as complete in the manner set forth in this paragraph 4 and to the reasonable satisfaction of the BOCC. Notwithstanding anything to the contrary contained in this SIA, including, without limitation, the BOCC's rights of investigation, upon the issuance of a certificate of occupancy for any Affordable Housing Unit required to be constructed on a lot identified on the Final Plat, the County shall, within ten (10) business days of receipt of Owner's Written Request for Partial Release of Security, release the Security attributable to such Affordable Housing Unit, including the ten (io%) percent contingency amount. 4.6. BOCC Investigation. 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 DRAFT Page 4of14 and the Preliminary Plan, and may inspect and review the Subdivision Improvements certified as complete to determine whether or not they have been constructed in compliance with relevant specifications, as follows: 4.6.1. If no letter of potential deficiency or determination that applicable requirements of the Preliminary Plan have not been satisfied is furnished to Owner by the BOCC within fifteen (15) business 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 Subdivision Improvements certified as complete shall be deemed approved by the BOCC, and the BOCC shall, within ten (1o) business days of such improvements being deemed complete, release the appropriate amount of Security. 4.6.2. If the BOCC chooses to inspect and determines that all or a portion of the Subdivision Improvements certified as complete are not in compliance with the relevant specifications or that applicable requirements of the Preliminary Plan have not been met, the BOCC shall furnish a letter of potential deficiency to the Owner, within fifteen (15) business days of submission of Owner's Written Request for Partial Release of Security. 4.6.3. If a letter of potential deficiency is issued identifying a portion of the certified Subdivision Improvements as potentially deficient and there are no outstanding requirements of the Preliminary Plan that are applicable to the subject improvements, then all Subdivision Improvements not identified as potentially deficient shall be deemed approved by the BOCC, and the BOCC shall authorize release of the amount of Security related to the Subdivision Improvements certified as complete and not identified as potentially deficient. 4.6.4. With respect to Subdivision Improvements identified as potentially deficient in a letter of potential deficiency or as not meeting all applicable requirements of the Preliminary Plan, the BOCC shall have fifteen (15) business days from the date of the letter to complete the initial investigation, and provide written confirmation of the deficiency to the Owner. 6.4.5. If the BOCC finds that the Subdivision Improvements are complete and in compliance with the relevant specifications and that all applicable requirements of the Preliminary Plan have been met, then the appropriate amount of Security shall be released within ten (1o) business days after completion of such investigation. DRAFT Page 5of14 6.5. BOCC Completion of Improvements and Other Remedies. If the BOCC finds, within the fifteen (15) day period of time above, that the Subdivision Improvements are not complete, or if the BOCC determines that the Owner will not or cannot construct any or all of the Subdivision Improvements (notwithstanding if Owner has submitted a written request for release of Security), or that applicable requirements of the Preliminary Plan will not or cannot be met, the BOCC may withdraw and employ from the Security such funds as may be necessary to construct the Subdivision Improvements in accordance with the specifications or to satisfy the Preliminary Plan requirements applicable to the Subdivision, up to the remaining face amount of the Security. In such event, the BOCC shall make a written finding regarding Owner's failure to comply with this SIA or applicable requirements of the Preliminary Plan prior to requesting payment from the Security, in accordance with the provisions of Section 13-106 of the LUDC. In lieu of or in addition to drawing on the Security, the BOCC may bring an action for injunctive relief or damages for the Owner's failure to adhere to the provisions of this SIA regarding Subdivision Improvements and satisfaction of requirements of the Preliminary Plan applicable to this Subdivision. 6.6. Final Release of Security. Upon completion of all Subdivision Improvements and requirements of the Preliminary Plan applicable to the Subdivision, Owner shall submit to the BOCC, through the Community Development Department: 1) record drawings bearing the stamp of Owner's Engineer certifying that all Subdivision Improvements, including off-site improvements within the jurisdiction of the County, have been constructed in accordance with the requirements of this SIA, including all Final Plat Documents and applicable requirements of the Preliminary Plan, in hard copy and digital format acceptable to the BOCC; 2) copies of instruments conveying real property and other interests which Owner is obligated to convey to the property owners' association of the Subdivision (POA) or any statutory special district or other entity; and 3) a Written Request for Final Release of Security, in the form attached as Exhibit F, along with Owner's Engineer's stamp and certificate of final completion of the Subdivision Improvements. Upon receipt of the foregoing, the BOCC shall take the following action: 6.6.1. Thee BOCC shall authorize a final release of the Security after the Subdivision 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 Subdivision Improvements are complete, in accordance with the relevant specifications, and that all requirements of the Preliminary Plan applicable to the Subdivision have been satisfied, the BOCC shall release the final amount of the Security within ten (1o) business days following submission of the Owner's DRAFT Page 6of14 Written Request for Final Release of Security accompanied by the other documents required. 6.6.2. 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 Subdivision Improvements certified as complete. If the BOCC does so review and inspect, the process contained above shall be followed. If, following such inspection, the BOCC finds that the Subdivision Improvements are complete, in accordance with the relevant specifications, and that all requirements of the Preliminary Plan applicable to the Subdivision have been satisfied, the BOCC shall release the final amount of the Security within ten (1o) days after completion of such investigation. 6.6.3. If, following the inspection contained above, the BOCC finds that the Subdivision Improvements are not complete, in accordance with the relevant specifications, or that requirements of the Preliminary Plan applicable to the Subdivision have not been satisfied, the BOCC may complete the remaining Subdivision Improvements and satisfy the applicable requirements of the Preliminary Plan, or institute court action; provided, however, that such action may only be taken by the BOCC if the BOCC determines in its reasonable discretion that the subject Subdivision Improvements will not or cannot be satisfactorily completed on or before the Completion Date and, provided further, that the BOCC shall provide Owner an opportunity to cure any identified deficiency or violations, as set forth in paragraph 13 below, prior to initiating any of the self-help remedies described herein, including, without limitation, commencing work on the Subdivision Improvements, requesting payment from the Security, initiating the foreclosure proceedings set forth in Section 13-106 of the LUR, or filing a civil action. 5. Affordable Housing. As required under Article VIII of the LUR, Owner has agreed to provide [ ] deed -restricted affordable for -sale housing (Affordable Housing Units) within the Subdivision as part of the Project as specifically provided in the affordable housing agreement attached as Exhibit H (Affordable Housing Agreement). As provided in the Affordable Housing Agreement, Owner shall not be required to construct any individual Affordable Housing Units until a buyer for such Affordable Housing Unit has been qualified by the Garfield County Housing Authority (GCHA) in accordance with the Affordable Housing Agreement. Pursuant to the Affordable Housing Agreement, if Owner defers construction of the Affordable Housing Units, upon Owner's receipt of notice from GCHA that a buyer has been DRAFT Page 7of14 qualified to purchase an Affordable Housing Unit (Purchase Notice), Owner shall promptly commence construction of an Affordable Housing Unit and shall deliver a completed Affordable Housing Unit to the qualified buyer on or before one -hundred and twenty (120) days from Owner's receipt of the Purchase Notice; provided, however, that if Owner receives a Purchase Notice on or between 15 October and 1 April of any year, Owner shall be required to deliver a completed Affordable Housing Unit to the purchaser on or before the next -occurring 1 August. As provided above, upon the issuance of a certificate of occupancy for any Affordable Housing Unit required to be constructed on a lot identified on the Final Plat, the County shall, within ten (10) business days of receipt of Owner's Written Request for Partial Release of Security, release the Security attributable to such Affordable Housing Unit, including the ten percent (10%) contingency amount attributable thereto. In the event Owner completes construction of, and receives certificates of occupancy for, all of the market rate units within the Final Plat prior to completion of construction of the Affordable Housing Units required to be constructed as part of such Final Plat, the BOCC may, but shall not be required to, withdraw and employ from the Security such funds as may be necessary to construct the Affordable Units in accordance with the requirements of this SIA and the Affordable Housing Agreement, up to the remaining face amount of the Security. 6. If Revegetation Is Required — Security for Revegetation. 6.1. Revegetation Security and Substitute Collateral. [$ of the face amount of the Security, specified in Paragraph 4 above, shall be allocated to revegetation of disturbed areas within the Subdivision (Revegetation LOC), the cost for which is detailed as a subdivision improvement in Exhibit B. Revegetation of disturbed areas in the Subdivision, the costs for which is detailed as a subdivision improvement in Exhibit B, shall be secured by delivery of security, including without limitation, a Letter of Credit "LOC" from the Owner to the BOCC in the form agreed to be acceptable to the BOCC, attached to this SIA by reference as Exhibit C, (Revegetation LOC] The Revegetation LOC shall be valid for a minimum of two (2) years following recording of the Final Plat. The BOCC, at its sole option may permit the Owner to substitute collateral other than a Letter of Credit, in a form acceptable to the BOCC, for the purpose of securing the completion of revegetation. 6.2. Revegetation Review and Notice of Deficiency. Upon establishment of revegetation, 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 DRAFT Page 8of14 Recorder as Reception No. 580572, as amended, and the revegetation and reclamation plan titled and dated for the Subdivision submitted as part of the Final Plat Documents. If the Vegetation Management Department refuses approval and provides written notice of deficiency, the Owner shall cure such deficiency by further revegetation efforts, approved by the Vegetation Management Department, as such efforts may be instituted within the two (2) years following recording of the Final Plat. 6.3. Single Request for Release of Revegetation LOC. Following receipt of written approval of the Vegetation Management Department, the Owner may request release of the Revegetation LOC and shall do so by means of submission to the BOCC, through the Community Development Department, of a Written Request for Release of Revegetation LOC, in the form attached hereto as Exhibit F, along with certification of completion by the Owner, or Owner's agent with knowledge, and a copy of the written approval of the Vegetation Management Department. It is specifically understood by the Parties that the Revegetation LOC is not subject to successive partial releases. Further, the Revegetation LOC and the BOCC's associated rights to withdraw funds and bring a court action may survive final release of the LOC securing other Subdivision Improvements. 6.4. BOCC's Completion of Revegetation and Other Remedies. If Owner's revegetation efforts are deemed by the BOCC to be unsuccessful, in the sole reasonable opinion 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, in its discretion, may withdraw and employ from the Revegetation LOC such funds as may be necessary to carry out the revegetation work, up to the face amount of the Revegetation LOC. In lieu of or in addition to drawing on the Revegetation LOC, the BOCC may bring an action for injunctive relief or damages for the Owner's failure to adhere to the provisions of this SIA related to revegetation. The BOCC shall provide the Owner a reasonable time to cure any identified deficiency prior to requesting payment from the Revegetation LOC or filing a civil action. 7. Water Supply [And Wastewater Collection. As stated in paragraph 14, below, prior to issuance by the BOCC of any certificates of occupancy for any residences or other habitable structures constructed within the Subdivision, Owner shall install, connect and make operable a water supply and distribution system for potable water, fire protection, non -potable irrigation water, 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 systems and wastewater collection system shall be as shown on the Final Plat. Owner shall deposit with the Garfield County Clerk DRAFT Page 9of14 and Recorder executed originals of the instruments of conveyance for easements appurtenant to the water and wastewater systems, for recording following recording of the Final Plat and this SIA. All facilities and equipment contained within the water supply and wastewater collection systems shall be transferred by Owner to the Homeowners' Association of the Subdivision by bill of sale. 8. Public Roads. All roads within the Subdivision shall be dedicated by the Owner to the public as public rights-of-way and shall be 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. And Private access easements for the use of single lots, if any, are depicted as such on the Final Plat. 9. Public Utility Rights-of-way. Whether or not utility easements exist elsewhere in the Subdivision, all road rights-of-way within the Subdivision shall contain rights-of-way for installation and maintenance of utilities. Public utility easements shall be dedicated by the Owner to the public utilities on the face of the Final Plat, subject to the Garfield County Road and Right -of -Way Use Regulations, recorded as Reception No. 643477, in Garfield, as amended. 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 companies. The BOCC shall not be obligated for the maintenance, repair and upkeep of any utility easement within the Subdivision. In the event a utility company, whether publicly or privately owned, requires conveyance of the easements dedicated on the face of the Final Plat by separate document, Owner shall execute and record the required conveyance documents. 10. Conveyance of Open Space. The common open space identified on the Final Plat of the Subdivision shall be conveyed by Owner to the Homeowners' Association at the time of Final Plat Approval. Owner shall record in Garfield County original instruments of conveyance following recording of the Final Plat and this SIA. 11. 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 Subdivision Improvements and any other agreement or obligation of Owner, related to development of the Subdivision, required pursuant to this SIA. The Owner, however, does not indemnify the BOCC for claims made asserting that the standards imposed by the BOCC are improper or the cause of the injury asserted, or from claims which may arise from the negligent acts or omissions of the BOCC or its employees. The BOCC shall notify the Owner of receipt by the BOCC of a notice of DRAFT Page ioof14 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 governmental immunity granted to the BOCC by Colorado statutes and case kw. 12. Fees in Lieu of Dedication of School Land. Owner shall make a cash deposit in lieu of dedicating land to the School District, calculated in accordance with the LUDC and the requirements of state law. The Owner agrees that it is obligated to pay the fee, accepts such obligations, and waives any claim that Owner is not required to pay the cash in lieu of land dedication fee. The Owner agrees that Owner will not claim, nor is Owner entitled to claim, subsequent to recording of the Final Plat of the Subdivision, a reimbursement of the fee in lieu of land dedication to the School District. 13. Sale of Lots. No lots, tracts, or parcels within the Subdivision may be separately conveyed prior to recording of the Final Plat in Garfield County. 14. Building Permits and Certificates of Occupancy. As one remedy for breach of this SIA, the BOCC may withhold issuance of building permits for any residence or other habitable structure to be constructed within the Subdivision. Further, no building permit shall be issued unless the Owner demonstrates to the satisfaction of the Fire Protection District (District), if the Fire District has so required, 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. No certificates of occupancy shall issue for any habitable building or structure, including residences, within the Subdivision until all Subdivision Improvements, except revegetation have been completed and are operational as required by this SIA. 15. Consent to Vacate Plat. In the event the Owner fails to comply with the terms of this SIA, the BOCC shall have the power and authority to vacate the Final Plat as it pertains to any lots for which building permits have not been issued. As to lots for which building permits have been issued, the Plat shall not be vacated and shall remain valid. In such event, the Owner shall provide the BOCC a plat, suitable for recording, showing the location by surveyed legal description of any portion of the Final Plat so vacated by action of the BOCC. If such a Plat is not signed by the BOCC and recorded, or if such Plat is not provided by the Owner, the BOCC may vacate the Final Plat, or portions thereof, by resolution. It is specifically agreed that this paragraph applies to the Subdivision as a multi -phased project and, therefore, in the event the BOCC vacates the Final Plat as to the Subdivision, subject of this SIA, the BOCC may also withhold approval of a proposed final plat for a future phase, if Subdivision Improvements, and revegetation, covered by this SIA are not completely installed and operable. DRAFT Page iiofl4 16. Enforcement. In addition to any rights provided by Colorado statute, the withholding of building permits and certificates of occupancy, provided for above, the provisions for release of Security, detailed above, and the provisions for plat vacation, detailed above, it is mutually agreed by the BOCC and the Owner, that the BOCC, without making an election of remedies, and any purchaser of any lot within the Subdivision shall have the authority to bring an action in the Garfield County District Court to compel enforcement of this SIA. Nothing in this SIA, however, shall be interpreted to require the BOCC to bring an action for enforcement or to withhold permits or certificates or to withdraw unused Security or to vacate the Final Plat or a portion thereof, nor shall this paragraph or any other provision of this SIA be interpreted to permit the purchaser of a lot to file an action against the BOCC. 17. Notice by Recording. This SIA shall be recorded in Garfield County and shall be a covenant running with land and with the title to all lots, tracts and parcels within the Subdivision. Such recording shall constitute notice to prospective purchasers and other interested persons as to the terms and provisions of this SIA. i8. 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. 19. Contract Administration and Notices. The representatives of the Owner and the BOCC, identified below, are authorized as contract administrators and notice recipients. Notices required or permitted by this SIA shall be in writing and shall be effective upon the date of delivery, or attempted delivery if delivery is refused. Delivery shall be made in person, by certified return receipt requested U.S. Mail, receipted delivery service, or facsimile transmission, addressed to the authorized representatives of the BOCC and the Owner at the address or facsimile number set forth below: Owner: w/copy to, BOCC: w/copy to, DRAFT Page 12of14 Garfield County Board of County Commissioners Attn: Community Development Director 108 Eighth Street, Suite 401 Glenwood Springs, Colorado 81601 Phone: (970) 945-8212 Fax: (970) 384-3470 20. Amendment and Substitution of Security. This SIA may only be modified in writing signed by the Parties. Any such amendment, including, by way of example, extension of the Completion Date, substitution of the form of security, or approval of a change in the identity of the security provider, shall be considered by the BOCC at a scheduled public meeting. Before any extension of Completion Date is considered, Owner shall certify that all taxes and assessments on the real property subject to the SIA are paid in full. If such an amendment includes a change in the identity of the provider of security, due to a conveyance of the Subdivision by the Owner to a successor in interest, Owner shall provide a copy of the recorded assignment documents to the BOCC, along with the original security instrument. Notwithstanding the foregoing, the Parties may change the identification of notice recipients and contract administrators and the contact information provided in paragraph 18, above, in accordance with the provisions of that paragraph and without formal amendment of this SIA and without consideration at a BOCC meeting. 21. Counterparts. This SIA may be executed in counterparts, each of which shall be deemed an original, and all of which, when taken together, shall be deemed one and the same instrument. Electronic signatures on a color pdf file shall constitute original signatures and shall have the same force and effect as a signature on a paper document. 22. Venue and Jurisdiction. Venue and jurisdiction for any cause arising out of or related to this SIA shall be in the District Court of Garfield County, Colorado, and this SIA shall be construed according to the laws of Colorado. IN WITNESS WHEREOF, the Parties have signed this SIA to be effective upon the date of Final Plat Approval for the Subdivision. BOARD OF COUNTY COMMISSIONERS ATTEST: OF GARFIELD COUNTY, COLORADO By: Clerk to the Board Chairman Date: DRAFT Page 13of14 OWNER Aspen Polo Partners, LLP By: Its authorized agent Date: State of Colorado ) ) ss. County of Garfield ) Subscribed and sworn to before me by , an authorized representative of Aspen Polo Partners, LLP, the Owner of the Subdivision, this day of , 201 . Witness my hand and official seal. Notary Public DRAFT Page 14of14