HomeMy WebLinkAboutCOUNTRY CLUB CORNERS FIFTH - Filed OA-OTHER AGREEMENTS - 2003-07-07Bond...... ❑
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MEMORANDUM OF UNDERSTANDING
Poudre Health Services District, a Colorado Special District and Political
Subdivision ("the Developers"), is the Developer of certain real property located in the
City of Fort Collins known as Country Club Corners 5th Filing, Poudre Health Services
("the Property"). The City has approved an Erosion Control Plan dated November 16,
2001 ("the Plan"), for the Property and, pursuant to Section 2.2 of the City's "Storm
Drainage Design Criteria and Construction Standards " ("the Criteria"), the City has
agreed to accept a bond, cash escrow, or irrevocable letter of credit in the amount of
Two Thousand One Hundred Seventeen dollars and Three cents ($2,117.03)("the
Escrow") from the Developer to guarantee the proper installation and maintenance of
the erosion control measures shown on the Plan and described in the Criteria. The
Escrow has been received by the City, in the form marked in the box at the top of this
page.
If, at any time, the Developer fail to abide by the provisions of the Plan or the
Criteria, the City may enter upon Property for the purpose of making such
improvements and undertaking such activities as may be necessary to ensure that the
provisions of the Plan and the Criteria are properly enforced. The City may apply such
portion of the Escrow as may be necessary to pay all costs incurred by the City in
undertaking the administration, construction and/or installation of the erosion control
measures required by the Plan and the Criteria or measures needed to stabilize the site
erosion should the project be abandoned by the Developer.
Upon acceptance by the City of the initial installation of the erosion control
measures required by the Plan and the Criteria, the Escrow shall be reduced to twenty-
five (25) percent of the actual cost of such measures. The balance of the Escrow shall
be held by the City to guarantee the continued maintenance and replacement of such
measures for a period not to exceed two (2) years from the date of installation of the
erosion control measures. Upon the expiration of said two (2) year period, or the date
of certification by the City that the required measures have been fully completed and
maintained in accordance with the Plan, whichever occurs first, the balance of the
Escrow shall be refunded and the right of access granted to the City under this
Memorandum of Understanding shall be of no further force and effect. Until such time,
the rights of the parties under this Memorandum of Understanding shall run with the
Property and be binding upon any subsequent owner thereof, as well as any assignee
in interest of the Developer.
Dated this I � 4 ' day of� a,\,—_ 2002
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THE CITY OF FORT COLLINS,
COLORAD�O, a municipal corporation
Glen D. Schlueter, Manager
Stormwater Development Review
DEVE PER:
By: Carol Ploc:k
Title- Executive Director
Attorney Certificate-.
This is to certify that on the A day of 2002, 1 examined the
title to the above described Property and have dete ined t at all fee title Owners of
the above described Property have executed this emorandum of Understanding. I
hereby affirm responsibility to the City of Fort Collins, Colorado, as a third party
beneficiary of thiis certification, for any errors and omissions by me concerning this
certification.
Name -
Colorado Attorney Registration No.- Z3
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