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Home My WebLink AboutFOUNTAINHEAD PUD PHASE 1 - Filed OA-OTHER AGREEMENTS - 2003-11-04AGREEMENT i This agreement dated this day of August, 1982, by and between THE CITY OF FORT COLLINS, COLORADO, a Municipal Corporation, hereinafter referred to as "the City", and Stanley G. Pedersen, Chloris A. Pedersen, Osprey, Inc., and Reid L. Rosenthal, Owners, hereinafter referred to as "the Developer", WITNESSETH: This agreement relates to: 1. Preliminary and final site plan for Fountainhead PUD Phase 1 of Super Block 3, Fort Collins, Colorado. 2. Fountainhead PUD Subdivision Plat Phase 1. 3. Preliminary site plan for Fountainhead PUD Phase 2, Superblock 3. 4. Development Agreement relating to Fountainhead PUD Phase 1. In order to obtain the appropriate City of Fort Collins approvals, Osprey, Inc. and Stanley G. Pedersen, Chloris A. Pedersen and Reid L. Rosenthal must have executed the foregoing documents. It is understood that the Pedersens consent and their obligations under all said documents are expressly conditional upon Reid L. Rosenthal's purchase of the Pedersen portion of the Fountainhead project, pursuant to the Agreement dated May 27, 1982. Accordingly, in the event that Reid L. Rosenthal or his assigns, including but not limited to Osprey, Inc., should fail to timely close the Agreement with the Pedersens, the Pedersens shall be entitled to rescind and withdraw their signatures upon all the aforesaid documents and the land owned by them and the Pedersens themselves shall not be individually liable or otherwise bound by any of the terms and conditions of said documents. Furthermore, the City of Fort Collins and Osprey, Inc. and Reid L. Rosenthal agree that such Plat shall not be filed for recording until such time as Reid L. Rosenthal and/or assigns shall have completed his purchase from the Pedersens as noted above. It is further agreed that in the event that Reid L. Rosenthal and/or his assigns should fail to close the purchase of the Pedersen parcel, then the City's approval of Fountainhead PUD Phase 1 shall be revoked. This Agreement shall be deemed to be fully executed and delivered when each of the undersigned has executed at least one counterpart, but not necessarily the same counterpart, hereof. THE CITY OF FORT COLLINS, COLORADO A Municipal Corporation By: ATTEST: EMPIRE ! MAVAN-MMINS APPROVED: ��n h e b L. 0 Dire for of Public;7orks t,g47 �,&' City Attorney OWNERS: anley C edersen EY, INCH BY: President ATTEST: Secretary - 3- 473632 12 SEP 22 A!1 I!: 51 COUNTY OF LARIMER STATE OF COLO,?ADO SITE AND LANDSCAPE COVENANTS FOR FOUNTAINHEAD P.U.D. PHASE I Situate in the NW 1/4 Section 36, T7N, R69W City of Fort Coll ins�unty of`Larimer, State of Colorado c.0 a The undersigned, fee owner of Fountainhead P.M.Phase I (The o Property) located in the City of Fort Collins, County of Larimer, State of Colorado, does hereby make the following declarations as limitations, ca restrictions and uses to which the Property may be put, and hereby speci- fies that these declarations shall constitute covenants to run with all of the Property and shall be binding on all parties and all persons claiming cv under them, and for the benefit of and limitations on all future owners of m all or part of the Property, this declaration being signed for the purpose of guaranteeing that the Property will be developed and landscaped ini- tially and '(apt in desirable condition in the future as herein specified. "Owner" shall include the signator to this document and all successors or assigns of said signator. The landscape improvements, parking areas, sidewalks, open spaces and site amenities including, without limitation, energy generation or con- servation amenities, as described in the site and landscape plans submitted to the City of Fort Collins and on record therewith shall be made and installed in the manner as described in said plans unless amended pursuant to the approval of the City of Fort Collins. With the exception of lands necessary for construction, the owner shall cause the property to be developed according to the site and landscape plan submitted to and ap- proved by the City of Fort Collins. It is further understood and agreed that the owner of the Property, or its assigns or successors in interest, shall be responsible for the maintenance and care (including necessary replacement of dead grasses, plants, trees or shrubs) of all "planted and landscaped" areas and other amenities within said P.U.D. together with all parking„ sidewalks and open space areas and all areas otherwise uti- lized for buffering energy conservation or other site amenity. Should the owner fail in any respect to comply with the terms of this Agreement, the City of Fort Collins upon notifying said owner in writing of the matters in regard to which default is asserted and should the owner fail either to cure said default within thirty (30) days after receipt of such notice or to commence within twenty (20) days to rectify such default until it is fully rectified or cured, then the City of Fort Collins shall have the right (1) to obtain, in the District Court of Larimer County, Colorado, a mandatory injunction requiring rectification of the default, or (2) to enter upon said property and perform the work necessary to replace said improvements or maintain the same and the owner shall pay or cause to be paid to the City of Fort Collins such suns necessary to reimburse said City of Fort Collins for the labor and material expended to complete or maintain said improvements which payment shall be made within ten (10) days after receipt of ;pilling. The sum due and unpaid shall accrue interest at the statutory rate for judgements from the date that such sum is due. If said B2186 P0287 billing is not paid, then the City of Fort Collins pursuant to the author- ity granted by these covenants, shall have a lien on the above described property and improvements thereto. Said lien to be exercisable by filing a notice of said lien against said property and improvements thereto; pro- vided, however, that the City of Fort Collins shall not have a lien against any single-family lots and improvements thereto within the Property, if applicable. The City of Fort Collins shall be entitled to all rights of foreclosure or other remedies existing pursuant to Colorado law for en- forcement of liens against real property and may also, at its discretion, without waiving any other rights it may have pursuant to law, proceed directly with legal action against the owner, its assigns or successors in interest, to collect payment of the reasonable amounts so expended pursuant to the terms hereof. The undersigned, its successors and assigns, hereby expressly reserve the right, with the consent of the City of Fort Collins, Colorado, to amend or restate these Covenants, by including the provisions contained herein within the Protective Covenants for the real property platted as "The Fountainhead Phase I pUdf which real property shall include the property subject to these Covenants. AD th is 2/'=� day of 19�� i_ Owner, Boardwalk & College, Ltd. BY, ATTEST'-t e e to ry STATE OF COLORADO ) )ss COUNTY OF LARIMER ) The foregoing instru but 19d)2, by J-l✓sue_ `a�-S Osprey, Inc., General Partner was acknowledged before me th/is,2/ ¢ day of dew My Commission expires: Wftness ,ay hand and official seal. My; Cemmisston Expires March 2, 1985 1113 Stinev tliN Drle Ft. Collins, CO 80525 Notaty Public -2-