HomeMy WebLinkAboutHARMONY CROSSING PUD - Filed DA-DEVELOPMENT AGREEMENT - AMENDMENT ONE - 2003-11-19HARMONY CROSSING P.U.D.
AMENDMENT AGREEMENT NO.l
THIS AMENDMENT AGR EMENT, made and entered into this
day of �Lf; of 199, by and between the CITY OF FORT COLLINS,
COLORADO, a municipal corporation, ("City") and RICHLAND
DEVELOPMENT COMPANY, LLC, a Colorado limited liability company,
("Developer"), is an amendment to that certain Development
Agreement dated the 6th of May, A.D. 1994, by and between the City
and The Richland Group, a Colorado corporation, hereinafter
referred to as the "Development Agreement."
WHEREAS, the City and the Developer (or their predessor's in
interest) previously executed the Development Agreement; and
WHEREAS, the parties are presently desirous of modifying the
Development Agreement;
NOW, THEREFORE, in consideration of the promises of the
parties hereto and other good and valuable consideration, the
receipt and adequacy of which is hereby acknowledged, the parties
agree as follows:
Subheading II. Special Conditions; section D. Streets;
paragraph 5. shall be modified to add the following:
Notwithstanding the forgoing, the Developer shall have the
option to postpone the construction of said street
improvements on Timberline Road and obtain issuance of
building permits for lots 157; 169, 180, 181 and 192 prior to
the completion of said improvements, following: (1) the City's
receipt of certification by a licensed Professional Engineer
that said lots for which building permits are requested have
been graded to elevations and contoured in accordance with the
approved utility plans; and (2) the escrow of funds to be
deposited with the City in the form of cash, certificate of
deposit, bond, nonexpiring letter of credit or other form of
City approved security sufficient to guarantee completion of
said improvements. The escrow amount shall be 150% of the
City approved contract unit prices for that portion the
Timberline Road construction project adjacent to said lots,
excluding the street oversizing portion of improvements for
which the Developer may be eligible for reimbursement.
Except as herein modified, the Development Agreement shall
continue in full force and effect. This Agreement and the
Development Agreement constitute the entire understanding of the
parties.
IN WITNESS WHEREOF, the parties hereto have set their hands
the day and year first above written.
ATTEST:
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✓ � / CITY CL K,
APPROVED AS TO CONTENT:
THE CITY OF FORT COLLINS, COLORADO,
a Municipal Corporation
By: /1yL�Td / 7`✓ fA1
City Manager
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DEVELOPER:
RICHLAND DEVELOPMENT COMPANY, LLC, a
Colorado,limitedlliabbility company
Michael' A. Messina, Manager