HomeMy WebLinkAboutHUNTINGTON HILLS PUD SIXTH - Filed DA-DEVELOPMENT AGREEMENT - 2003-12-03DEVELOPMENT AGREEMENT
THIS AGREEMENT, made and entered into this j day of, Lli,-)
199 by and between the CITY OF FORT COLLINS, COLORADO,, a
Municipal Corporation, hereinafter referred to as the "City"; and
Huntington Hills, L.L.C. of Colorado, a Colorado limited liability
company, hereinafter referred to as the "Developer".
WITNESSETH:
WHEREAS, the Developer is the owner of certain real property
situated in the County of Larimer, State of Colorado, (hereafter
referred to as the "Property") and legally described as follows, to
wit:
Huntington Hills PUD, Filing No. 6, A portion of Section 12,
Township 6 North, Range 69 West of the 6th Principal Meridian,
City of Fort Collins, County of Larimer, State of Colorado.
WHEREAS, the Developer desires to develop the Property and has
submitted to the City a subdivision plat and/or a site plan and
landscape plan, a copy of which is on file in the office of the
Director of Engineering and made a part hereof by reference; and
WHEREAS, the Developer has further submitted to the City
utility plans for the Property, a copy of which is on file in the
office of the Director of Engineering and made a part hereof by
reference; and
WHEREAS, the parties hereto have agreed that the development
of the Property will require increased municipal services from the
City in order to serve such area and will further require the
installation of certain improvements primarily of benefit to the
lands to be developed and not to the City of Fort Collins as a
whole; and
WHEREAS, the City has approved the subdivision plat and/or
site plan and landscape plan submitted by the Developer subject to
certain requirements and conditions which involve the installation
of and construction of utilities and other municipal improvements
in connection with the Property; and
WHEREAS, the City acknowledges that the Property will be
developed in six (6) phases as more particularly shown on the
approved plans, including the phasing plan.
NOW, THEREFORE, in consideration of the promises of the
parties hereto and other good and valuable consideration, the
receipt and adequacy of which are hereby acknowledged, it is agreed
as follows:
development is adjacent to Fossil Creek and that seepage from said
Creek may impact groundwater levels in this development.
Accordingly, Developer and its successors in interest and
transferees (if any), covenant not to sue and agree that the City
shall not be responsible or liable for any claims for damages or
injuries that may be alleged to have been sustained in the
development as a result of groundwater seepage, whether resulting
from groundwater flooding, structural damage or other damage unless
such damages or injuries are sustained as a result of the City's
failure to properly maintain its storm drainage facilities. The
Developer shall file for the land governed by this Development
Agreement (when such land is annexed to its existing Declaration of
Covenants, Conditions and Restrictions) a Supplement to said
Declaration which shall include a provision to the effect that the
Developer and all of its successors in interest will release the
City and covenant not to sue the City for any damages or injuries
that Developer or any of its successors in interest may allege to
have suffered or sustained as a result of groundwater seepage or
groundwater flooding unless such damages or injuries are sustained
as a result of the City's failure to properly maintain its storm
drainage facilities.
F. Hazards and Emergency Access.
1. No combustible material will be allowed on the site
until a permanent water system is installed by the Developer and
approved by the City.
III. Miscellaneous
A. The Developer agrees to provide and install, at its
expense, adequate barricades, warning signs and similar safety
devices at all construction sites within the public right-of-way
and/or other areas as deemed necessary by the Director of
Engineering in accordance with the City's "Work Area Traffic
Control Handbook" and shall not remove said safety devices until
the construction has been completed and approved by the Director of
Engineering.
B. The Developer shall, at all times, keep the public right-
of-way free from accumulation of waste material or rubbish caused
by the Developer's operation; shall remove such rubbish no less
than weekly and; at the completion of the work, shall remove all
such waste materials, rubbish, tools, construction equipment,
machinery, and surplus materials from the public right-of-way. The
Developer further agrees to maintain the finished street surfaces
so that they are free from dirt caused by the Developer's
operation. Any excessive accumulation of dirt and/or construction
materials shall be considered sufficient cause for the City to
withhold building permits and/or certificates of occupancy until
the problem is corrected to the satisfaction of the Director of
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Engineering. If the Developer fails to adequately clean such
streets within two (2) days after receipt of written notice, the
City may have the streets cleaned at the Developer's expense and
the Developer shall be responsible for prompt payment of all such
costs.
C. The Developer hereby agrees that it will require its
subcontractors to cooperate with the City's construction inspectors
by ceasing operations when winds are of sufficient velocity to
create blowing dust which, in the inspector's opinion, is hazardous
to the public health and welfare.
D. The Developer shall, pursuant to the terms of this
Agreement, complete all improvements and perform all other
obligations required herein, as such improvements or obligations
may be shown on the original plat and related documents, or any
replat as subsequently filed by the Developer, and the City may
withhold such building permits and certificates of occupancy as it
deems necessary to ensure performance hereof.
E. Nothing herein contained shall be construed as a waiver of
any requirements of the City Code, and the Developer agrees to
comply with all requirements of the same.
F. In the event the City waives any breach of this Agreement,
no such waiver shall be held or construed to be a waiver of any
subsequent breach hereof.
G. Financial obligations of the City of Fort Collins payable
after the current fiscal year and/or not appropriated or budgeted
are contingent upon funds for that purpose being appropriated,
budgeted and otherwise made available by the Fort Collins City
Council.
H. This Agreement shall run with the Property and shall be
binding upon and inure to the benefit of the parties hereto, their
personal representatives, heirs, successors, grantees and assigns.
It is agreed that all improvements required pursuant to this
Agreement touch and concern the Property regardless of whether such
improvements are located on the Property. Assignment of interest
within the meaning of this paragraph shall specifically include,
but not be limited to, a conveyance or assignment of any portion of
the Developer's legal or equitable interest in the Property, as
well as any assignment of the Developer's rights to develop the
Property under the terms and conditions of this Agreement.
I. In the event the Developer transfers title to the Property
or any portion thereof, and is thereby divested of all equitable or
legal interest in the Property or any portion thereof, the City
agrees to release Developer from liability under this Agreement
with respect to any breach of the terms and conditions of this
Agreement occurring after the date of any such transfer of interest
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with respect to the transferred property only. In such event, the
succeeding Property owner shall be bound by the terms of this
Agreement and shall be responsible to the City therefor.
J. Each and every term of this Agreement shall be deemed to
be a material element hereof. In the event that either party shall
fail to perform according to the terms of this Agreement, such
party may be declared in default. In the event that a party has
been declared in default hereof, such defaulting party shall be
given written notice specifying such default and shall be allowed
a period of ten (10) days within which to cure said default. In
the event the default remains uncorrected, the party declaring
default may elect to: (a) seek damages; (b) treat the Agreement as
continuing and require specific performance; or (c) avail itself of
any other remedy at law or equity.
K. In the event of the default of any of the provisions
hereof by either party which shall require the party not in default
to commence legal or equitable action against said defaulting
party, the defaulting party shall be liable to the non -defaulting
party for the non -defaulting party's reasonable attorney's fees and
costs incurred by reason of the default. Nothing herein shall be
construed to prevent or interfere with the City's rights and
remedies specified in Paragraph III.D of this Agreement.
L. This Agreement shall not be construed as or deemed to be
an agreement for the benefit of any third party or parties, and no
third party or parties shall have any right of action hereunder for
any cause whatsoever.
M. It is expressly understood and agreed by and between the
parties hereto that this Agreement shall be governed by and its
terms construed under the laws of the State of Colorado and the
City of Fort Collins, Colorado.
N. Any notice or other communication given by any party
hereto to any other party relating to this Agreement shall be hand -
delivered or sent by certified mail, return receipt requested,
addressed to such other party at their respective addresses as set
forth below; and such notice or other communication shall be deemed
given when so hand -delivered or three (3) days after so mailed:
If to the City: Engineering Development Review
City of Fort Collins
P.O. Box 580
Fort Collins, Cc 80522
With a copy to: City Attorney's Office
City of Fort Collins
P.O. Box 580
Fort Collins, Cc 80522
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If to the Developer
With a copy to:
Marcus Palkowitsh
MSP Companies
650 South Cherry Street, Suite 435
Denver, Colorado 80222
David L. Osborn
217 West Olive Street
Fort Collins, Colorado 80521
Notwithstanding the foregoing, if either party to this Agreement,
or their successors, grantees or assigns, wishes to change the
person, entity or address to which notices under this Agreement are
to be sent as provided above, such party shall do so by giving the
other party to this Agreement written notice of such change.
0. When used in this Agreement, words of the masculine gender
shall include the feminine and neuter gender, and when the sentence
so indicates, words of the neuter gender shall refer to any gender;
and words in the singular shall include the plural and vice versa..
This Agreement shall be construed according to its fair meaning,
and as if prepared by all parties hereto pertaining to the matters
addressed in this Agreement. There shall be deemed to be no other
terms, conditions, promises, understandings, statements,
representations, expressed or implied, concerning this Agreement,
unless set forth in writing signed by all of the parties hereto.
Further, paragraph headings used herein are for convenience of
reference and shall in no way define, limit or prescribe the scope
or intent of any provision under this Agreement.
ATTEST :
J7KlMAla y_
CITY CLERK
APPROVED AS TO CONTENT:
Director of EngineeN ng
THE CITY OF FORT COLLINS, COLORADO,
a Municipal Corporation
By: 0eDI. tfw
CityVanager
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APPR ED /S' �T FORM:
Deputy City Attorney
DEVELOPER:
Huntington Hills L.L.C. of Colorado,
a Colorado limited liability company
Mar s Palkowitsn, Manager
WE
EXHIBIT "A"
1. Schedule of water lines to be installed out of sequence.
Not Applicable.
2. Schedule of sanitary sewer lines to be installed out of
sequence.
Not Applicable.
3. Schedule of street improvements to be installed out of
sequence.
Not. Applicable.
4. Schedule of storm drainage improvements to be installed out
of sequence.
Not Applicable.
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EXHIBIT "B"
NOT APPLICABLE
d
I. General Condition
A. The terms of this Agreement shall govern all development
activities of the Developer pertaining to the Property. For the
purposes of this Agreement, "development activities" shall include,
but not be limited to, the following: (1) the actual construction
of improvements, (2) obtaining a building permit therefor, or (3)
any change in grade, contour or appearance of said property caused
by, or on behalf of, the Developer with the intent to construct
improvements thereon.
B. All water lines, sanitary sewer collection lines, storm
sewer lines and facilities, streets, curbs, gutters, sidewalks, and
bikepaths shall be installed as shown on the approved utility plans
and in full compliance with the Council -approved standards and
specifications of the City on file in the office of the Director of
Engineering at the time of approval of the utility plans relating
to the specific utility, subject to a three (3) year time
limitation from the date of execution of this Agreement. In the
event that the Developer commences or performs any construction
pursuant hereto after three (3) years from the date of execution of
this agreement, the Developer shall resubmit the project utility
plans to the Director of Engineering for reexamination. The City
may require the Developer to comply with approved standards and
specifications of the City on file in the office of the Director of
Engineering at the time of resubmittal.
C. No building permit for the construction of any structure
within the development shall be issued by the City until the water
lines, fire hydrants, sanitary sewer lines and streets (including
curb, gutter and sidewalk and pavement with at least the base
course completed) serving such structure have been completed and
accepted by the City. No building permits shall be issued for any
structure located in excess of six hundred and sixty feet (660')
from a single point of access.
D. Any water lines, sanitary sewer lines, storm drainage
lines, and/or streets described on Exhibit "A," attached hereto,
shall be installed within the time and/or sequence required on
Exhibit "A." If the Director of Engineering has determined that
any water lines, sanitary sewer lines, storm drainage facilities
and/or streets are required to provide service or access to other
areas of the City, those facilities shall be shown on the utility
plans and shall be installed by the Developer within the time as
established under "Special Conditions" in this document.
E. Except as otherwise herein specifically agreed, the
Developer agrees to install and pay for all water, sanitary sewer,
and storm drainage facilities and appurtenances, and all streets,
curbs, gutters, sidewalks, bikeways (if any) and other public
improvements required by this development as shown on the approved
plat, site, landscape and utility plans, and other approved
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documents pertaining to this development on file with the City.
F. Street improvements (except curbs, gutters and walks)
shall not be installed until all utility lines to be placed therein
have been completely installed, including all individual lot
service lines leading in and from the main to the property line.
G. The installation of all utilities shown on the utility
plans, except those utilities which are under the jurisdiction of
other governmental or quasi -governmental utility districts, shall
be inspected by the Engineering Department of the City and shall be
subject to such department's approval. The Developer agrees to
correct any deficiencies in such installations in order to meet the
requirements of the plans and/or specifications applicable to such
installation. In case of conflict, the utility plans shall
supersede the standard specifications.
H. All storm drainage facilities shall be so designed and
constructed by the Developer as to protect downstream and adjacent
properties against injury and to adequately serve the Property (and
other lands as may be required, if any). The Developer shall meet
or exceed the minimum requirements for storm drainage facilities as
have been established by the City in its Drainage Master Plans and
Design Criteria. The Developer does hereby indemnify and hold
harmless the City from any and all claims that might arise,
directly or indirectly, as a result of the discharge of injurious
storm drainage or seepage waters from the Property in a manner or
quantity different from that which was historically discharged and
caused by the design or construction of the storm drainage
facilities, except for (1) such claims and damages as are caused by
the acts or omissions of the City in maintenance of such facilities
as have been accepted by the City for maintenance; (2) errors, if
any, in the general concept of the City's master plans; and (3)
specific directives that may be given to the Developer by the City.
Approval of and acceptance by the City of any storm drainage
facility design or construction shall in no manner be deemed to
constitute a waiver or relinquishment by the City of the aforesaid
indemnification. The Developer shall engage a Colorado licensed
professional engineer to design the storm drainage facilities as
aforesaid and it is expressly affirmed hereby that such engagement
shall be intended for the benefit of the City, and subsequent
purchasers of property in the development.
I. The Developer shall pay storm drainage basin fees in
accordance with Chapter 26, Article VII of the Citv Code. Storm
drainage improvements eligible for credit or City repayment under
the provisions of Chapter 26 are described together with estimated
cost of the improvements on the attached Exhibit "B," which
improvements, if applicable, shall include right-of-way, design and
construction costs. See Section II.C, Special Conditions, Storm
Drainage Lines and Appurtenances, for specific instructions.
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J. The Developer shall provide the Director of Engineering
with certified Record Plan Transparencies on Black Image Diazo
Reverse Mylars upon completion of any phase of the construction.
K. The Developer specifically represents that to the best of
its knowledge all portions of the Property dedicated to the City
associated with this development are in compliance with all
environmental protection and anti -pollution laws, rules,
regulations, orders or requirements, including solid waste
requirements, as defined by the U. S. Environmental Protection
Agency Regulations at 40 C.F.R., Part 261, and that such portions
of the Property as are dedicated to the City pursuant to this
development, are in compliance with all such requirements
pertaining to the disposal or existence in or on such dedicated
property of any hazardous substances, pollutants or contaminants,
as defined by the Comprehensive Environmental Response Compensation
and Liability Act of 1980, as amended, and regulations promulgated
thereunder. The Developer does hereby indemnify and hold harmless
the City from any liability whatsoever that may be imposed upon the
City by any governmental authority, pertaining to the disposal of
hazardous substances, pollutants or contaminants, and cleanup
necessitated by leaking underground storage tanks, excavation
and/or backfill of hazardous substances, pollutants or
contaminants, or environmental cleanup responsibilities of any
nature whatsoever on, of or related to any property dedicated to
the City in connection with this development. The Developer
further agrees to indemnify and hold harmless the City from any
claims or actions based directly, indirectly or in any manner on
any of the aforementioned environmental risks brought against the
City by third parties arising as a result of the dedication of
portions of the Property to the City in connection with this
development. Said indemnification shall not extend to claims,
actions or other liability arising as a result of any hazardous
substance, pollutant or contaminant generated or deposited by the
City, its agents or representatives, upon portions of the Property
dedicated to the City in connection with this development.
II. Special Conditions
A. Water Lines
Not Applicable
B. Sewer Lines
Not Applicable
C. Storm Drainage Lines and Appurtenances
1. The Developer and the City agree that all on -site and
off -site storm drainage improvements, as shown on the approved
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utility plans for this development for Phase 1, shall be completed
by the Developer in accordance with the approved plans prior to the
issuance of more than ten (10) building permits in Phase 1 of the
development. Completion of improvements shall include the
certification by a professional engineer licensed in Colorado that
the drainage facilities which serve Phase 1 of this development
have been constructed in conformance with said approved plans. Any
deviations from the approved utility plans for Phase 1 of the
development shall be the responsibility of the Developer to correct
prior to the issuance of any certificate of occupancy. Said
certification shall be submitted to the City at least two weeks
prior to the date of issuance of any building permit greater than
said ten (10) building permits for Phase 1 of the development. The
Developer and the City agree that all on -site and off -site storm
drainage improvements, as shown on the approved utility plans for
this development for Phase 2, shall be completed by the Developer
in accordance with the approved plans prior to the issuance of more
than six (6) building permits in Phase 2 of the development.
Completion of improvements shall include the certification by a
professional engineer licensed in Colorado that the drainage
facilities which serve Phase 2 of this development have been
constructed in conformance with said approved plans. Any
deviations from the approved utility plans for Phase 2 of the
development shall be the responsibility of the Developer to correct
prior to the issuance of any certificate of occupancy. Said
certification shall be submitted to the City at least two weeks
prior to the date of issuance of any building permit greater than
said six (6) building permits for Phase 2 of the development. The
Developer and the City agree that all on -site and off -site storm
drainage improvements, as shown on the approved utility plans for
this development for Phase 3, shall be completed by the Developer
in accordance with the approved plans prior to the issuance of more
than five (5) building permits in Phase 3 of the development.
Completion of improvements shall include the certification by a
professional engineer licensed in Colorado that the drainage
facilities which serve Phase 3 of this development have been
constructed in conformance with said approved plans. Any
deviations from the approved utility plans for Phase 3 of the
development shall be the responsibility of the Developer to correct
prior to the issuance of any certificate of occupancy. Said
certification shall be submitted to the City at least two weeks
prior to the date of issuance of building permits greater than said
five (5) building permits for Phase 3 of the development. The
Developer and the City agree that all on -site and off -site storm
drainage improvements, as shown on the approved utility plans for
this development for Phase 4, shall be completed by the Developer
in accordance with the approved plans prior to the issuance of more
than eight (8) building permits for Phase 4 of the development.
Completion of improvements shall include the certification by a
professional engineer licensed in Colorado that the drainage
facilities which serve Phase 4 of this development have been
constructed in conformance with said approved plans. Any
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deviations from the approved utility plans for Phase 4 of the
development shall be the responsibility of the Developer to correct
prior to the issuance of any certificate of occupancy. Said
certification shall be submitted to the City at least two weeks
prior to the date of issuance of any building permit greater than
said eight (8) building permits for Phase 4 of the development.
The Developer and the City agree that all on -site and off -site
storm drainage improvements, as shown on the approved utility plans
for this development for Phase 6, shall be completed by the
Developer in accordance with the approved plans prior to the
issuance of more than nine (9) building permits for Phase 6 of the
development. Completion of improvements shall include the
certification by a professional engineer licensed in Colorado that
the drainage facilities which serve Phase 6 of this development
have been constructed in conformance with said approved plans. Any
deviations from the approved utility plans for Phase 6 of the
development shall be the responsibility of the Developer to correct
prior to the issuance of any certificate of occupancy. Said
certification shall be submitted to the City at least two weeks
prior to the date of issuance of any building permit greater than
said nine (9) building permits for Phase 6 of the development.
2. The Developer agrees to provide and maintain erosion
control improvements as shown on the approved utility plans to
stabilize all over -lot grading in and adjacent to this development.
The Developer shall also be required to post a security deposit in
the amount of $ 43,650 prior to beginning construction to guarantee
the proper installation and maintenance of the erosion control
measures shown on the approved Plan. Said security deposit shall
be made in accordance with the criteria set forth in the City's
Storm. Drainage Design Criteria and Construction Standards
(Criteria). Tf, at any time, the Developer fails to abide by the
provisions of the approved utility plans or the Criteria, the City
may enter upon the Property for the purpose of making such
improvements and undertaking such activities as may be necessary to
ensure that the provisions of said plans and the Criteria are
properly enforced. The City may apply such portion of the security
deposit 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 said plans and the
Criteria. In addition, the City shall have the option to withhold
building permits and certificates of occupancy, as stated in
Paragraph III.D of this Agreement, as it deems necessary in order
to ensure that the Developer installs and maintains the erosion
control measures shown on the approved Plan throughout the buildout
of this development.
3. The Developer and the City agree that it is important
that certain lots be graded to drain in the configuration shown on
the approved plans for this development. For this reason the
following additional requirements shall be followed for building on
Lots 26 through 109 of this development, and lots 112 through 150
of this development:
Prior to the issuance of a certificate of occupancy for each
of said lots, the Developer, or its transferees (if any),
shall provide the City with certification that: (a) the lot
has been graded correctly (including the grading of any minor
swales, if applicable); (b) the lot corner elevations
specified on the approved plans are correct and in accordance
with the approved plans; and (c) the minimum floor elevation
for all buildings constructed on said lot has been completed
in accordance with the approved plans. Said certification
shall be completed by a Colorado licensed professional
engineer and shall be submitted to the City at least two weeks
prior to the date of issuance of the desired certificate of
occupancy..
4. Lots 1 through 25 and 151 through 155 of this
development abut certain storm drainage facilities and it is agreed
that it is of the utmost importance that no storm water from said
facilities enters houses built on said lots. In order to provide
the assurance that houses built on said lots are constructed at an
elevation that said storm water cannot enter, the approved utility
plans contain specifications for the minimum elevation for any
opening to each such house. Prior to the issuance of a certificate
of occupancy for each of said lots the Developer, or its
transferees (if any), shall provide certification from a Colorado
licensed professional engineer that the lowest opening to any such
house is at or above the minimum elevations required on said
utility plans.
S. The Developer, or its transferees (if any), shall
obtain the City's prior approval of any changes from the approved
utility plans in grade elevations and/or storm drainage facility
configuration that occur as a result of the construction of houses
and/or development of lots, whether by the Developer or other
parties. The City reserves the right to withhold the issuance of
building permits and certificates of occupancies until the City has
approved such changes as being acceptable for the safe and
efficient delivery of storm drainage water.
D. Streets.
1. The Developer and the City agree that no street
oversizing reimbursement from the City is due the Developer for
this development.
2. No building permit shall be issued for Lots 23 and
24 of this development until such time that access for these lots
is taken from Huntington Hills Drive. (Access for said lots shall
not be taken from Fossil Creek Parkway.)
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3. No building permit shall be issued for Lots 28 through
31, 37, 38, 74 through 77, 88, 89, and 109 through ill of this
development until such time that all vehicular access for these
lots is taken from the local street adjacent to each of said lots.
(Access for said lots shall not be taken from Fossil Creek
Parkway.)
4. No building permit shall be issued for Lots 23 and 59
of this development until Huntington Hills Drive has been completed
with either (1) a City approved temporary turnaround, (2) a
permanent cul de sac or (3) an extension designed so that it
becomes a "through street" in accordance with City standards.
5. No building permit shall be issued for Lot 119 of
this development until Auburn Drive has been completed with curb,
gutter, sidewalk and pavement with at least the base course
completed for the portion of the street adjacent to the lot. In
addition, no access shall be gained from Auburn Drive until all
infrastructure improvements associated with Phase 4 of the
Development are completed and approved by the City. Further, no
certificate of occupancy shall be issued for this lot until one of
the following two alternatives is satisfied: (1) Auburn Drive along
the frontage of said lot is completed with curb, gutter, sidewalk
and pavement in accordance with City standards; or (2) the
Developer shall deposit with the City cash funds for the future
improvements necessary in order to complete said portion of Auburn
Drive in accordance with City standards in order to guarantee the
completion of the Developer's share of the required street
improvements for Auburn Drive adjacent to Lot 119 of the Property.
The amount of said funds shall be equal to the estimated cost to
construct said improvements, which estimate shall be prepared by
the Developer and approved by the City, plus 505,; to cover the cost
of construction engineering, surveying and project management.
Said amount shall be paid to the City prior to the issuance of any
building permit for lot 119 in the development.
Any interest earned by the City as a result of said deposit shall
be the property of the City to cover administration and inflation
in order to better assist the City in making reimbursement to the
party that constructs said improvements.
If the Developer is the party that constructs said improvements,
upon completion of said improvements and acceptance of them by the
City, the City shall return to the Developer the amount deposited
plus any interest earned by the City as a result of said deposit,
less 3°s of the total amount remaining (which includes said amount
deposited plus the interest earned by the City) to be kept by the
City to cover its costs for administration of said deposits.
6. No building permit shall be issued for Lot 41 of this
development until Huntington Hills Drive has been completed with
curb, gutter, sidewalk and pavement with at least the base course
completed for the portion of the street adjacent to the lot. In
addition, no access shall be gained from Huntington Hills Drive.
Further, no certificate of occupancy shall be issued for this lot
until one of the following two alternatives is satisfied: (1)
Huntington Hills Drive along the frontage of said lot is completed
with curb, gutter, sidewalk and pavement in accordance with City
standards; or (2) the Developer shall deposit with the City cash
funds for the future improvements necessary in order to complete
said portion of Huntington Hills Drive in accordance with City
standards in order to guarantee the completion of the Developer's
share of the required street improvements for Huntington Hills
Drive adjacent to Lot 41 of the Property. The amount of said funds
shall be equal to the estimated cost to construct said
improvements, which estimate shall be prepared by the Developer and
approved by the City, plus 50% to cover the cost of construction
engineering, surveying and project management. Said amount shall
be paid to the City prior to the issuance of any building permit
for lot 41 in the development.
Any interest earned by the City as a result of said deposit shall
be the property of the City to cover administration and inflation
in order to better assist the City in making reimbursement to the
party that constructs said improvements.
If the Developer is the party that constructs said improvements,
upon completion of said improvements and acceptance of them by the
City, the City shall return to the Developer the amount deposited
plus any interest earned by the City as a result of said deposit,
less 3% of the total amount remaining (which includes said amount
deposited plus the interest earned by the City) to be kept by the
City to cover its costs for administration of said deposits.
7. All construction shall occur in accordance with the
phasing plan for this development as shown in the approved utility
plans on file with the City.
8. The Developer and the City agree that the Developer
is responsible for all costs for the initial installation of
traffic signing and striping for this development related to the
development's local street operations. In addition the Developer
is responsible for all costs for traffic signing and striping
related to directing traffic access to and from the development
(e.g. all signing and striping for a right turn lane into the
development site).
E. Groundwater.
1. The Developer and the City recognize that the
A