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HomeMy WebLinkAbout1.16 Amended & Restated Development Agreement1111 NarAN W1 F2.1 IWrAKU81!'� Recep 1tion#` a94989 7Jtt9J2e17 1207F06 PM Jean Arberioo 1 of 15 Reo Fee, Q.Ce Doc FuagO,Oe GARFIELD COUNTY CO AMENDED AND RESTATED DEVELOPMENT AGRIVEMENT SPRING VALLEY RMCH PLANNED UNIT DEVELOPMENT THIS AGREEMENT, is made and entered into between the BOARD OF COUNTY COMMISSIONBRS OF THE COUNTY OF GARRIELD, a body politic and corporate (the "County"), SPRING 'VALLEY HOLDINGS, LLC, a Delaware Limited Liability Company ("Developer"), and SPRING VALLEY RANCH COMMUNITY MASTER ASSOCIATION, INC., a Colorado non-profit corporation (the "110A"). The County, Developer, and the HOA may hereinafter be referred to collectively as the "Parties". WITNESSMi : A. Developer is the owner of certain real property located in Garfield County, Colorado, more particularly described in Exhibit 1 ("Developer's Property). The HOA is the owner of eerta[n real property located in Garfield County, Colorado, more particularly described in Exhibit 2 ("HOA Property"), whioh property was conveyed to the HOA by Developer for the purposes described in the Project Plans (defined below). The Developer's Property and HOA Property are collectively referred to as the "Property." B. By Resolution No. 2008-55, which was approved in a public hearing before the Garfield County Board of County Commissioners on December 7, 2007 and memorialized in a Resolution signed on April 21, 2008, recorded in the real property records of Garfield County as Reception No. 747015, and corrected by Resolution No, 2010-38, the Garfield County Board of County Commissioners (the "Board") approved the Spring Valley Ranch Planned Unit Development (the "SVR PUD"). The SVR PUD contemplates residential and commercial uses with significant active and passive open space areas (the "Projeet'D, as documented in Resolution 2010-38, recorded in the real property records of Garfield County as Reception No. 786992 and Incorporated by this reference. C. By Resolution No. 2008-56, which was approved in a public hearing before the Garfield County Board of County Commissioners on December 7, 2007 and memorialized in a Resolution signed on April 21, 2008, recorded in the real property records of Garfield County as Reception No. 747016, the Board approved the Preliminary Plan far the SVR PUD (the "SVR D. By Resolution No. 2012-95, which was approved in a public hearing before the Garfield County Board of County Commissioners on November 13, 2012, the Development Agreement was amended to include 21 phases, dates of completion, and the HOA property description. E. The SVR PUD and SVR Preliminary Plan contemplate twenty-one (21) separate phases of development for the Project, wherein each phase will require final plat approval. F. Thv SVR PUD and SVR Preliminary Plan provide that the first phase of development of the Project will consist of one parcel (P-1) owned by Developer, on which is 1,5 mill Yip ��1ti f�� 11111 Fteaeptlono 89t P Q71j81 0i7 52:17•16 PM Jean Alberiao 2 a 76 Re Fae:�ti.aa Poo Fsoso, m ORRF;ELD COUNTY CO located an existing dwelling unit, and the HOA Property, which consists of open space slid limited entryway improvements ("Phase 1 "). Developer does not plan, and Phase 1 does not contemplate, any new dwelling units. The County and the Developer recognize that this configuration represents a unique factual situation that does not create or imply any precedents for other developments in the County. G. The SVR PUD provides that the start of construction for each phase is based on the date of approval of the final plat for Phase 1 (the "Phase 1 FinaI Plat"), provided, however, that the final plats for all phases of the Project are approved no later than fifteen (1S) years after the date of approval of the Phase 1 Final Plat (tire "Phasing Plan"), 11. By motion, dated July 21, 2008, the Board approved an extension of not more than one (1) year for Developer to continence development of the Project or submit an application for the Phase 1 Final Plat (the "Approved Extension"). I. Developer submitted a complete application for the approval by the County of the Phase 1 Final Plat in the time period allowed by the Approved Extension and has, contemporaneously herewith, brought the Phase 1 Final Plat before the Board for final approval. The County has considered and approved the application for approval of the Phase 1 Final Plat and the request to approve this Development Agreement, after notice and public bearing as required by law, and pursuant to the requirements of Section 5-305 of the Garfield County Land Use Resolution of 2008 (the "LUR"). The County finds and determines that the phase 1 Final Plat constitutes a "Site Specific Development Plan," as that terns is defined in C.R.S. § 24-68-102(4)(a) and Section 1-202(B) of the LUR. J. Tire Vested Property Rights Statute C.R.S. §§ 24-68-101 et seq. (the "Statute") and the LUR provide for the establishment of vested property lights in order to advance the purposes stated therein, and authorize the County to enter into development agreements with landowners providing for vesting of property development for periods greater than three (3) years. K. Development of the Property in accordance with the SVR PUD, SVR Preliminary Plan, Phase 1 Final Plat, and such future final plats that are approved for the varlous phases of the Project (collectively, the "Project Plans") will provide for orderly, well planned growth in accordance with the policfes and goals stated hi the Garfield County Comprehenslve Plan, provide significant trails and open space, promote diversity of housing stock, ensure reasonable certainty and stability in the land use planning process, stimulate economic growth within the County, and L. Development of the Property will also require substantial investments in infrastructure improvements and public facilities, both on the Property and outside the Property, which will serve the needs of the Property and the County. Such investments can be supported only with assurances that development of the Property can proceed to ultimate completion as provided in the Project Plaits and this Agreement. M. In exchange for the foregoing benefits and other benefits to the County contemplated by this Agreement, together with the public benefits served by orderly and well 2 ■III WMAOKFIV) III[ 11ww1ww111ifii M111 III Reaeptlan1l 4969 0711912017 t?:17i89R6 ph Jean Rlberiaa 3 a 16 Reo rFoe:$0.00 Doo Fee:0,00 GARFMLD COUNTY CO planned development of the Property, Developer desires to receive vested property rights in the Project Plans in accordance with this Agreement, N, In addition, and notwithstanding the foregoing recitals, in light of the current difficulties and volatility of the national housing and lending market, it may not be prudent for Developer to undertake the large expenditures of funds necessary to commence development of Phase 2 and subsequent phases within the time frame set forth in the Phasing Plan, In the event Developer decides not to continence development of phases subsequent to Phase 1 within the time frame set forth in the Phasing flan or otherwise does not comply with the Phasing Plan, Developer seeks the County's assurance that it will undertake the procedures necessary to return the Property to its prior configuration and rezone the Property from PUD to a zone district that meets the requirements of law. In such event, Developer further seeks the HOA's assurance that it will re - convey the HOA Property back to Developer for the purpose of effectuating the return of the Property to its prior configuration. O. The mutual promises, covenants, and obligations contained in this Agreement are authorized by the statutes of the State of Colorado and the laws of the County, NOW, THER13PORE, in consideration of the promises cited above and the mutual covenants and promises contained herein, the sufficiency of which is acknowledged, the County and Developer agree as follows: I. Incorporation ofRechals. The Parties agree that the aforesaid recitals are true and correct, and those recitals are hereby incorporated into the body of this Agreement. 2. General ProvIsions. (a) Scope. The terms and conditions of this Agreement shall apply to the Property, (b) Phasing. Construction of the Project is anticipated to occur in up to twenty- one (21) phases, with Phase 1 being the initial phase of the Project, and eonstiuction of subsequent phases occurring in accordance with the Phasing Plan set forth in the SVR PUD. 3. Vesting of Certain Property Rights. The County and Developer hereby agree that and complete development and use of the Property. (a) Intent of besting System. The vesting system set forth in this Section 3 balances the County's obligation to protect the public health, safety and welfare of the community and its desire to facilitate the highest quality development with Developer's private property rights and Developer's need to rely on County approvals to achieve an economically viable project. (b) 0per vie; v of Vesting System. 3 oil] 11 gqecepElan": 8949a9 m7l1912017 12:17 06 PM Je n Rlherloo 4 of 16 Rev Fee:W 00 Doo ae10.00 GRRFIEL9 COUNTY CO (i) Nature of Vested ,Rights. During the tern of vested rights set forth in Section 3(d) below, Developer will have the right to develop uses at such densities and in the general locations on the Property described in the approved Project Plans. Upon County approval of any future final plats that are approved for the various phases of the Project, such plats shall automatically be entitled to the same vested rights as have been granted herein for the same period of vesting which remains under this Agreement, (c) Rights ThatAre Vested. The rights identified herein or as may hereafter be acquired by operation of any state or local vested property rights law shall constitute vested property rights under this Agreement and shall not be taken by the County without just compensation. These rights include the following: (i) No Downzoning. The maximum number of residential dwelling units and acres for residential use, and the total gross acres for non-residential uses, As set forth in the Project Plans are hereby vested. (ii) rises, Densities and Locations. The right to develop the Property in accordance with the uses, densities, and general locations set forth in the Project Plans is hereby vested. (iif) Site Development Standards. The right to develop the Property in accordance with the design standards, development standards, and terms and conditions set forth in the Project Plans and the resolutions of the Board approving the same is hereby vested. (iv) 77ining of Development The right to commence and complete development of the Property at such time in such order and at such rate as set forth in the Phasing Plan of the SVR PUD. This provision of this Agreement supersedes any County rules or regulations that require development to be commenced or completed in any specific time framo. (v) Subsequent Approvals. The right to receive all Countyapprovals necessary for development of the Project provided that subsequent final plat submittals or applications for other approvals comply with this Agreement and the -Project Plans, and all applicable standards and regulations, including then -current (vi) Site Specs, fie Development Plan. As to the matters vested under this Agreement and the Project Plans, including any future final plats that are approved by the County for the various phases of the Project, shall be considered a site - specific development plan for the purposes of the Statute and Sections 1-201 and 1, 202 of the LUR. The following statement is provided to satisfy the requirements of Section 4-502(H)(2) of the LUR: Approval of this plan shall create a vested property right pin -scant to article 68 oftitle 24, CR.S as amended. 4 mill 14IFAZINPIN flail AWHAM11Ia1411111 Receptlon#: 8949se 07fjj9f20i7 12�M06 PM Jean Albarico 6 0[ i6 Rao Faaj$0.00 0oo Fee7O.00 GARFIELD COUNTY CO (d) Term of Vested Rights. In recognition of the size of the Project contemplated by this Agreement and the Project Plans, the time required to complete the Project, the need to proceed in phases, and varying economic cycles and market conditions likely to occur during the course of development of the Project, the County agrees that the rights identified as vested rights in this Section 3 shall be vested for a period of fifteen- (15) years from the effective (into of the County's approval of this Agreement. Notwithstanding the foregoing, the County shall not grant any further extension to the term of the vested rigltts granted for the Project. (e) Adoption, Notice and Effective Dale. Tlie County has adopted this Development Agreement as a legislative act subject to referendum, as required by C.R.S. § 24-68-104(2). As set forth in and required by C.RS. § 24-68-103(c), within 14 days from the datehereof, the County shall cause to be published in a newspaper of general circulation within the County, a notice advising the general public of the approval of the Phase 1 Final Plat as a Site Specific Development Plan and the creation of vested property rights pursuant to this Development Agreement and C.RS. §§ 24-68-101 et. seq. The effective date of the County's approval of this Development Agreement shall be the date of said publication. 4. No Obligatlofr to Develop. Notwithstanding anything to the contrary contained in this Agreement and the Project Plans, Developer shall have no obligation to develop all or any portion of the Property, except as set forth in the Subdivision Improvements Agreement for Phase 1 as tho same may be amended. In the event Developer does not commence development ofPhase 2 within the time frame set forth in the Phasing Plan and described below, the terms of this Section 4 shall apply. (a) In accordance with the Phasing Plan, (lie date for start of construction for Phase 1 shall be April 2014. Therefore, according to the phasing Plan. the start of construction for Phaso 2 must commence by April 2022. (b) At any time before April 1, 2022, the Developer may notify the County and the HOA of its Intent not to proceed with the development of Phase 2 and subsequent phases. In such event, the Developer may withdraw the Project plans in accordance with the procedure in Section 12-103(B) of the LUR. (c) In the alternative, the County and Developer agree that the Developer shall bo-in-violation-of-the-phasing-Plan-on-.Arpril-1j-2022if the--Developer-doesmot-f3le with -the - County an application for approval of a final plat for Phase 2 on or before March 31, 2022, by notice to the Developer and the HOA. (d) As soon as practicable after the effective date of the withdrawal of the Project Plans described fn Section4(b) above, or the violation of thePhasingPlan described in Section 4(6) above, the Developer ;may undertake and the County will consider the procedures necessary to return the Property to the configuration that existed prior to the approval of the Phase 1 Final Plat, in accordance with the procedures set forth in 30-29- 139, C.R.S. and Section 12-106ofthe LUR. As part of such process and immediately upon request of the Developer, the HOA shall convey the HOA Property to Developer, by good 5 Hill NrATAN MIN Wlhi'WA KUi+ilf474411 ill Deco 711B1yy�0 7 �12s87 06SPPi Jeer AL6ertoo 8 of 16 Rea Fees$0.00 Doa Feeso.00 GARFIELD COUNTY CO and sufficient general warranty deed, free and clear of all liens and encumbrances. Concurrently therewith, if requested by the Developer, the County shall undertake the procedures necessary to rezone the Property from PUD to a zone district that meets the requirements oflaw. Nothingin this Agreement shall be construed to require any particular action by the 13OCC on any such rezoning request. (e) Completion of the procedures described In Section 4(b) and (d) above, Including any appeals thereof, shalt constitute a forfeiture of the vested tights set forth in this Agreement. In such event, the County may memorialize the forfeiture of the vested rights set forth In this Agreement by resolution or other appropriate vehicle. In such event, the Developer waives any right to notice and hearing pursuant to Section 12-103(f) and waives all rights pursuant to Section 12-107 of the LUR. (0 In addition to undertaking the procedures set forth in this Section 4, the County reserves all of its rights, including but not limited to rights of enforcement, at law or in equity with respect to the Project Plans, and including but not limited to the right to enforce the terms of this Agreement or forfeit the rights conferred by this Agreement in accordance with law. Except as expressly set forth in this Section 4, the Developer reserves all of its rights at law or in equity with respect to the Project Plans and any action of the County with respect thereto, including but not limited to the light to enforce the terms of this Agreement. S. Severability. If any provisions or parts of this Agreement are judged unenforceable or invalid, to the extent practicable, such judgment shall not affect, impair, or invalidate the remaining parts of this Agreement, the intention being that the various parts and provisions hereof are severable. 6. Recording of Agreement. This Agreement shall be recorded with the Garfield County Clerk and Recorder at Developer's expense and shall be a covenant running with and against all thoproperty, propertyrights, and improvements contained within the Property described in Exhibits 1 And 2. in order to put prospective owners, purchasers, successors, assigns, and others acquiring any interest in the Property on notice as to the terms and obligations herein. 7. BindhigBffect. Unless otherwise provided herein, this Agreement shall be binding upon Developer's heirs, successors, assigns, transferees, and any other person or entity acquiring or purchasing any interest in any of the Property. S. Natice. Any notice to Developer or the County, which may be given under the terms of this Agreement, shall be in writing and shall be deemed sufficiently given when sent certified U.S. Mail and first class mail, postage prepaid, addressed as follows: TO DEVELOPER: Spring Valley Holdings, LLC Attn: Stephanie Zimmerman Seligman Western Enterprises, Ltd, One Towne Square, Suite 1913 N. will NPAUClPM namhown6Sma 11111 aeaeptlonN: 8B49tl9 0711B120i7 i2'17 gB PM Jean Alberioo 7 o 16 Rao Foac ,00 Don Fees ,00 GARFIELD COUNTY CO Southfield, Mf 48076 Phone: 248-351-4876 TO THE HOA: Spring Valley Ranch Community Master Association, Inc. Attic: Stephanie Zimmerman Seligman Wester. Enterprises, Ltd. One Towne Square, Suite 1913 Southfield, MI 48076 Phone: 248-351-4876 TO THE COUNTY: Garfield County Hoard of County Commissioners Attn: Community Development Direotor 108 Eighth Street, Suite 401 Glenwood Springs, CO 8I60I Phone: 970.945, 8212 Fax: 970.384.3470 The Parties shall provide notice of any change in the above -referenced information, 9. Applicable Law, This Agreement shall be construed and enforced in accordance with the laws of the State of Colorado 10, Cotrrtterparls. This Agreement maybe executed in counterparts, each ofwhich will constitute one and the same instrument. IN WITNBSS WHEREOF, and agreeing to be fully bound by the terms of this Agreement, the Parties have set their hands below on this day of 2017, DEVELOPER: SPRING VALLEY HOLDINGS, LLC, a Delaware Limited Liability Company By: -Name., Stephanie M. Zi erman Its: LLC Manager______ 7 ■Ili I FIA11K1RJ WANIA WINXIMMAQW,1I111 Re"0 tian#' B04909 Wli91Z�©i7 1x�i7 q6 PM Jaan Alherl pp 0 of i Roo Faec$0.00 Doo Fee�0.00 URFIELD COUNTY CO HOA: SPRING VALLEY RANCH COMMUNITY MASTER ASSOCIATION B Name; Ste ban M. Z prman ATI In Bill MWORN119) K"MoRawymom 11111 Reneption#: 894989 07119/2017 1 207 GS f>C1 Jean Rkbaria- 9 of 1B ROO Feet PJ0 Dna 1ees0.0a GARFIELD COUNTY CO EDIT 1 DEVELOPER'S ]PROPERTY Reacptlan#. 894969 0�l1�12g1 12i17:8 PM doe Atberioo i o 1 ao Feel 0.00 Ooo oe�0.00 GRRFIELU COUNTY CO LEGAL DESCRIPTION OF DEVELOPER'S PROPERTY A parcel of land located in Sections 14, 1 S,16, 20, 21, 22, 23, 26, 27, 28, 29, 32, 33, and 34, Township 6 South, Range 88 West, Sixth Principal Meridian being more particularly described as follows: Beginning at the Northwest Comer of said Section 20 being a 2-inch Alwninum Cap (P.E.L.S. 5933); thence S 881*1610811 E 2627.19 feet along the north line of said Section 20 to the North Quarter Corner of said Section 20 being a Mach Alwainum Cap (P. H.L.S. 5933); thence S 88"15'48" E 2625.91 feet along the north tine of said Section 20 to the Northeast Corner of said Section 20 being a 2-1/2 inch GLO Brass Cap found in place said corner also being on the west line of said Section 16; thence N 00°014" W 2631.77 feet along the west line of said Section 16 to the East Quarter Comer of Section 17, T. 6 S., R. 88 W., 6th P.M. being a 2-1/2 inch GLO Brass Gap found in place; thence N 00"08104" W 340.70 feet continuing along the west tine of said Section 16 to the West Quarter Comer of said Section 16 being a 2-1/2 Inch GLO Brass Cap found in place; thence N 00°01'47" E 1047.99 feet continuing along the west line of said Section 16 to the southwest corner of a parcel of land described in Book 795, Page 980 in the office of the Garfield County Clerk and Recorder; thence the following Mm courses along the boundary of sold parcel described in 3ook 795, Page 980. 1. thence N 8901647" E 334.10 feet; 2. thence N 03,035147" E 252.06 feet; 3. thence N 88°27'52" W 349.87 feet to a point un the west line of said Seetioa 16; thence N 001101147" E 977.15 feet along the west line of said section 16 to the Northeast Corner of Bald Section 17 being a 2-1/2 inch GLO Brass Cap found in place; thence N 00001'20" W 344.80 feet continuing along tho west Sine of said Section 16 to the Northwest Comer of said Section 16 being a 2.1/2 inch GLO Brass Cap found in place; thence N 89057115" E 2703.26 feet along the north line of sold Section 16 to the North Quarter Comer of said Section 16 being a 2-1/2 inch GLO Brass Cap found in place; thence N 89"S7109" E 2637.87 feet oon&uing along the north Hue of said Section 16 to the Northeast Corner of said Section 16 being a 2-1/2 inch GLO Brass Cap found in place; thence N 89°58117" E 2638.56 feet along the north lute of said Section 15 to the North Quarter Conner of said Section 15 being a 2-1/2 inch GLO Brass Cap found in place; thence S 89°59'36" E 1318.31 feet continuing along the north line of said Section 15 to the west line of the NE114NE1/4 of said Sccdoa IS being a Mach Aluminum Cap (L..S.15710) found in place whence the northeast corner of said Section 15 being a 2-1/2 Inch GLO Brass Cap found in place bears S 39159136" E 1318.31 feet; thence S 001,00109" E 1312.36 feet aloog the west line of the NE 1/4NE 114 of said Section 15 to the southwest comer of the NE114NE1/4 of said Section 15 being a 3-inch Alw mown Cap (L.S. 15710) found In place; thence N 8915546" E 1317.67 feet along the south line of the NE1/4NE 114 of said Section 15 to the southeast comer of the NE1/4NE1/4 of said Section 1S being a 3-inch Alwninum Cap (L.S. 15710) found in place; thence S 89°58146" E 1320.64 feet along the north line of the SWl/4NW1/4 of said Section 14 to the northeast comer of the SW 1/4NW1/4 of said Section 14 being a 3-inoh Aluminum Cap (L,.S. 15710) found In place; thence S 00°01'34" W 1312.94 feet ■ilr�4i4Ei�'1�1�1�L��flh�futi+�F��ti'INi�rh �IIII 071iS 2017 121189 08ePM Jean A16erloo 11 of 15 Roo Feei$0.00 Do o Fee:0,00 GARFIELD COUNTY CO along the east line of the SW i/4NW A of said Section 14 to the southeast corner of the SW1/4NW1/4 of said Section 14 being a 2-1nch Aluminum Cap (P.E,L,S. 5933); thence S 00°Ol'l9" E 2647.58 feet along the cast -line of the WI/2SWI/4 of said Section 14 to the southeast corner of the Wi/2SW 1/4 of said Section 14 being a 2-inch Alwwntmn Cap (P.131.S. 5933); thence S 89e59'40" E 1318.59 feet along the north line of said Section 23 to the North Quarter Comer of said Section 23 being a 2-1/2 inch GLO Brass Cap found in place; thence S 00005123" E 5277.46 feet along the outline of the W 1/2 of said Section 23 to the South Quarter Comer of said Section 23 being a 2-1/2 inch GLO Brass Cap .found in place; thence 5 00100'49" W 5529.94 feet along the east line of the W1/2 of said Section 26 to the South Quarter Corner of said Section 26 being a 2-1/2 inch GLO Brass Cap found in place, thence S 84"S9'30" W 31.37 fact along the south litre of sold Section. 26 to the North Quarter Comer of Section 35, T, 6 S., R. 88 W., 6th P.M., being a 2-1/2 inch GLO Brass Cap found in place; thence S 84041115" W 1292.34 feet along the south line of said Section 26 to the southeast corner of Lot 14 of said Section 26 being a 2-inoh Aluminum Cap (P.E,L,S, 5933); thence N 00°21137" E 372.49 feet along the east line of said Lot 14, Section 26 to the northeast corner of said Lot 14 being a 2-inch Aluminum Cap (P.B.L.S. 5933); thence N 89*5313111 W 1611.72 feet along the north line of said Lot 14 to the northwest corner of said Lot 14 being a 2-inch Aluminum Cap (p.131,S. 5933); thence S 00"00'14" W 525.17 feet along the west line of said Lot 14 to the Southwest Comer of sold Section 26 being a 2-1/2 inch GLO Brass Cap found in place; thence N 89014'59" W 2647.44 feet along the south line of said Section 27 to the South Quarter Corner of said Section 27 being a 2.1/2 inch GLO Brass Cap found In place; thence N 89* 17111" W 1319.72 feet along the north line of said Section 34 to the northeast corner of the W 1/2NW 1/4 of said Section 34 being a 2-inch Aluminum Cap (P.E.L,S. 5933) whence the Northwest Comer of said Section 34 being a 2-1/2-inch OLO Brass Cap found in place beats N 89*17'11" W 1319.72 feet; thence S 001105158" E a distance of 2353.81 feet to a point on the northerly right -of way of Garfield County Road 115; thence the following theme courses along the northerly right-of-way of said County Road 115: 1. thence 235.33 feet along the arc of a non tangent curve to the right having a radius of 639.07 feet, a central angle of 2I °05'S3", and the chord beans N 6711l7' 16" W a distance of 234.00 feet; 2, thence N 561144`l 9" W a distance of 393.81 feet; 3. thence 166.52 feet along the arc of a tangent ctuive to the left having a radius of 310.00 feet, a central angle of 30146'36", and the chord bears N 72*07137" W a distance of 164.52 feat; thence departing said Garfield County Road 115 X 101135'S5" W a distance of 486.06 feet; thence S 8405513411 W a distanco of563.88 feet; thence S 16°02133" W a distances of 630.62 feet to a point on the northerly right-of-way of said GatTiold County Road 115; thenca'the following thirty courses along the northerly right-of-way ofsald County Road 115: 1, thence 168.86 feet along the era of a non tangent curve to the right having a radius of 2141.07 feet; a central angle of 04*3110711, and the chord bears S 891113'00" W a distance of 168.81 feet; 2, thence 159.12 feet along the arc of a tangent curve to the right laving a radius of 170.00 feet, a central angle of 53113743", and the chord bears N 61,14213511 W a distance of 153.37 feet; 3. thence 460,26 feet along the arc of a tangent curve to the right having a radius of 699.53 feet, a central angle of 37°41'54", and tote chord bears N 16/10214711 W a distance of 452.01 feet; 4, thence N 02*48110" E a distance of 238.01 feet; 1111 MPAIMMIN1l 111JI ARRA` W�h �I III Reoeptlon#' Wgrs8 117/19/2017 M 17:0�}6 ppri Jear� Rlberlco 12 of 1s Reo Fee:$0.00 Doo Fee:0.00 GARFIELb COUNTY GO 5. thence 429.79 feet along the arc of a tangent curve to the left having a radius of 912.82 feet; a central angle of 26058138", and the chord bears N 10041109" W a distance of 425.83 feet, 6, thence N 241110127" W a distance of W.62 feet; 7. thence 504.76 feet along the arc of a tangent curve to the left having a radius of 809.79 feet; a central angle of 351142'49". and the chord bears N 42001152" W a distance of 496.63 feet; 8, thence N 59"53' 17" W a distance of 459.39 feet; 9. thence 167.17 feet along the are of a tangent curve to the right having a radius of 370.00 feet, a central angle of 25*53'11 ", and the chord beers N 46115642" W a distance of 165,75 feet; 10. thence N 34°00'06" W a distance of 1152,91 feet; 11. thence 1191.15 feet along the erne of a tangent curve to the right having a radius of 2377.42 feet, a central angle of 28°42`24", and the chord be=N 19038'54" W a distance of 1178.73 feet; 12. thence 245.56 feet along the arc of a tangent curve to the left having a radius of 430.00 feat, a central angle of 32°43'14", and the chord bears N 21°39'19" W a distance of 242.24 feet; 13. thence 376.29 feet along the are of a tangent curve to the right having a radius of 1361.75 feet, a central angle of 15"49'57", and the chord bears N 30*05157" W a distance of 375.10 feet; 14. thence N 22010'58" W a distance of 307.62 feet; 15. thence 580.97 feet along the arc of a tangent curve to the loft having a radius of 654.66 feet, a central angle of 50"51'15", and the chord bears N 471,36136" W a distance of 562.09 feet; 16. thence N 73002114" W a distance of 636.67 feet; 17. thence 351.46 feet along the are of a tangent curve to the right having a radius of766.12 feet, a central angle of 26°17'03", and the chord bears N 5905342" W a distance of 348.38 feet; 18. thence N 46045110" W a distance of 235,64 feet; 19. thence 181.70 feet along the arc of a tangent curve to the left having a radius of 407.41 faet, a central angle of 25°33'14", and the chord bears N 591131147" W a distance of 180.20 feet; 20. thence N 72018124" W a distance of 432.60 feet; 21. thence 264.71 feet along the -are of a tangent curve to the right having a radius of 420.00 feet, a central angle of 36°06'4011, and the chord bears N 54015104" W a distance of 260.35 feet; 22. thence 202.78 feet along the arc of a tangent curve to the right having a radius of 933.47 feet, a central angle of 1212647", and the chord nears N 29*58121" W a distance of 202.38 feet; 23, thence N 23*44157" W a distance of 73.66 feet; 24. thence 691.16 feet along the are of a tangent curve to the left having a radius of 1111.34 feet; a central angle of 35°38'00", and the chord bears N 41*33157" W adistance of 680.07 feet; 25. thence N 59W57" W a distance of 217.30 feet; 26. thence 332.51 feet along the arc of a tangent curve to the left having a radius of 930.00 feet, a Central angle of 20°29'08", and the chord bears N 691137'31" W a distance of 330.75 feet; 27. thence 79°52'05" W a distance of452.89 feet; mill ReoepticnN: B9a989 Q7119I2@17 12s17i@9 Pii Jean piberiaqq 3 or 15 Reo Feeia@.2 Doo Feai@.@0 ORRFIELD COUNTY CO 28. thence 416.54 feet along the arc of it tangcnt curve to the right having a radius of 5288.82 feet, a central angle of W30'45 ", and the chord bears N 77036143" W a distance of 416.43 feet; 29. thence 250.87 feet along the arc of a curve to the right having a radius of 5288.92 feet, and a central angle of 02°43'04", and the chord beers N 7305948" W a distance of 250.84 feet; 30. thence N 72038'16" W 1244.87 feet to a point on the accepted east line of Lot 4 of said Section 20 whence the southeast corner of a parcel of land recorded under reception number 467225 in the office of the Garfield County Clerk and Recorder being a 2-inch Aluminum Cap (P.E.L.S. 5933) and accepted as a point on the east line of said Trot 4 bears S 01°51'02" W 9.41 feet; thence N 01 °51'02" E 490.79 feet along the accepted cast line of said Lot 4 to the northeast corner of said Lot 4 being a 2-inch Aluminum Cap (F.E.L.S. 5933); thence N 88°18'52" W 1429.59 feet along the north line of said Lot 4 and Lot 3 of said Section 20 to the northwest corner of said Lot 3 being a 2-inch Aluminum Cap (P.E.L.S. 5933) whertoo the Southwest Corner of said Lot 20 being a 2-1/2 inch Alun6um Cap (P.L.S. 27929) found in plane bears S 00006131" E 1008.11 feet; thence N 00°06131" W 1630.93 feet along the west line of said Section 20 to the West Quartet' Corner of said Section 20 being a 2-inch AltuWnum Cap (P.E.L.S. 5933); thence N 00004'12" R 2632.88 feet along the west line of said Section 20 to the Northwest Corner of sold Section 20 being the POINT OF BEODMING containing 5198.85 acres more or less, prior to the following excepted parcel: EXCEPTING THE FOLLOWING PARCEL: Section 1S Exceptioat A parcel of land being the Northwest Quarter of the Southwest Quarter of Section IS, Township 6 South Range 88 Weet, of the Sixth Principal meridian, said parcel being further described as follows: Beginning at the West Quarter comer of said Section 15 being a 2-1/2 inch GLO Brass Cap found in place, thence N 89°51'07" E 1323.59 feet along the North line of the NW 1/4SW 1/4 of said Section 15 to the northeast corner of the NWl/4SWl/4 of said Section 15; thence S 00001149" E 1540.50 feet along the East line of the NW 1/4SW 1/4 of said Section 15 to the Southeast Corner of the NWI/4SW1/4; thence S 8905925" W 1323.59 feet along the south line of the NWI/4SW1/4 of said Section 15 to tho southwest corner of the NW1/43W1/4 of said section 15; whence the Southwest Comer of said Section 15 being a 2-1/2 Inch GLO Brass Cap found in place bears S 00°01'49" E 1537.70 feet; thence N 00'01149" W I S37.70 feet along the west line of the NWIASWIA of said section 15 to the northwest corner of the NW 1/4SW1/4 of sold section 15 being the POINT OFBEGINNING containing 46.76 acres more or less, The total area minus the exception parcel is 5,152.09 acres more or Iess. ALONG WITH: A parcel of Ind located in Sections 33 and 34, Township 6 South, Range 88 West, Sixth Principal Meridian being morepartioularly described as follows: Beginning at the Quarter Comer common to said Sections 33 and 34 being a 2-inch Aluminum Cap (P.E.L.S 5933) thence N 8802745" W a distance of 551.40 feet along the south line of the NEIM of said Section 33 to a point an the southerly right-nf way of Garfield County Road 114; ■III �l�.rl��h41�4��'I�E ��I�+1��I���r�h�If�GrtYl:4h ■I III _ _ __� _ _ _ _ Reception#; 894969 07/18/207 12t17:6fi PM Joan Al,,rioo 1A of 15 fteo Fsa:$4.041 Doa Fee:00 GARFIELD COUNTY CO thence along the southerly right-of-way of said Garfield County Road 114 the following two courses: 1. thence N 40°27'03" E a distance of 70,18 feet; 2. thence 388.21 feet along the are of a tangent curve to the right having a radius of 470.00 fect, a central angle of 47119'32", and the chord bears N 6410614911 E a distance of 377.27 feet to a point on the southerly right-of-way of Garfield County Road 115; thence the following four courses along the northerly right-of-way of said Qarfield County Road 115: 1. thence 766.87 feet along the atre of a tangent curve to the left having a radius of 2201.07 feet, a central angle of 19°57144", and the chord beats N 77°47143" E a distance of 763.00 feet; 2. thence 241.93 feat along the arr, of a tangent curve to the right having a radius of 250.00 feet, a central angle of 55126'50", and the chord bears S 84027144" E a distance of 232.60 feet; 3. thence S 56144'19`f .E a distance of 393.81 feet; 4. thence 270.44 feet along the arc of a tangent curve to the left having a radius of 699.07 fbet, a central angle of 22°09'54", and the chord bears S 67149' 16" S a distance of 268.75 feet to a point on the east line of the W112NW114 of said Section 34; thence S 00005158" E a distance of 50.95 feet along the east Hne of the Wl12NW114 of said Section 34 to the southeast corner of the W 1/2NW 1!4 of said Section 34 being a 2-inch aluminum cap (ML.S 5933); thence S 891151139" W a distance of 1389.27 feet along the south line of the W112NW1l4 of said Section 34 to the point of begiruung; containing 10.95 acres more or less. The combined area of the above described two parcels and excluding the five exception parcels Is 5,163.04 acres more or less, 0111 MMMM IlMr+MMFAtUMPAIIA If III Reception#: 894989 0711912 17 12 MOM PM JeanAIbariaa 18 of 16 Rao 6e,$0.00 Doo F0ac0.00 GRRFIELD COUNTY 00 EXHIBIT 2 194A )PROPMYY • OSP Parcel A • OSP Parcel D OSR Pazcol A OSR Parcel B of Please 1, Spring Valley Ranch PUD, Garfield County, Colorado, according to the Amended Plat thereof filed with the Garfield County Recorder as Reception No. 828064 10