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Home My WebLink AboutOAKRIDGE WEST PUD - Filed OA-OTHER AGREEMENTS - 2004-01-09CAKRIDCF WEST P.U.U., FIRST FILTNG FIRST AMENDMENT AGREEMENT THIS AMENDMENT AGREEMENT, made and entered into this 1st day of October , 1988, by and between the CITY OF FORT COLLINS, COLORADO, a municipal- corporation ("City"), and HFAL_THVEST, a Maryland real estate investment trust ("Developer"), is an amend- ment to that certain Development Agreement dated the 17th of August, 1987, by are between the. City of EVFPITT ENTERPRISES LIVTTF.D PARTNERSHIP NO. 1, ("Development Agreement"). WFFREAS, the parties hereto (or their predecessor's in interest) previously executed the Development Agreement.; and WHEREAS, HealthVest is now the owner of Oakridge West P.U.D., First Filing; and WHEREAS; the parties are presently desirous of making medifi- cation of 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 2 (Special conditions), shall have the following subparagraph added as follows: E. Other Prior to the issuance of the footing and foundation permit for any buildirgs within this Planned Unit Development, the Developer agrees to the following: 1. No corshustible material will be allowed on the site until the water system is installed by the developer and approved by the City. 2. To provide an accessway to any building under construc- tion, adequate tc handle any emergency vehicles or equip- ment, and to properly maintain such accessway at all times. Such accessway shall be at a minimum, 20' wide with 4" aggregate base course material compacted according to City Standards and with a 40' radius turn- around at the building end of said accessway. 3. The issuance of said footing and fourdation permit is made solely at the Developer's own risk and the Developer shall told the City harmless in the event of any damages resulting from the issuance of said permit prior to the completicn of the requirements in accordance with Section 29-678 of the Code of the City. Except as herein amended or modified, the Development Agree- ment shall continue in full force and effect. This Agreement and the Development Agreement constitute the entire understanding of the parties. THE DECLARATION OF TRUST OF HEALTHVEST, A COPY OF WHICH, TOGETHER WITH ALL AMENDMENTS, IS DULY FILED WITH THE DEPARTMENT OF ASSESSMENTS AND TAXATION OF THE STATE OF MARYLAND, PROVIDES THAT THE NAME HEALTHVEST REFERS TO THE TRUSTEES COLLECTIVELY AS TRUSTEES, BUT NOT INDIVIDUALLY OR PERSONALLY. NO TRUSTEE, OFFICER, SHAREHOLDER, EMPLOYEE OR AGENT OF HEALTHVEST SHALL BE HELD TO ANY PERSONAL LIABILITY, JOINTLY OR SEVERALLY, FOR ANY OBLIGATION OF, OR CLAIM AGAINST, HEALTHVEST. ALL PERSONS DEALING WITH HEALTHVEST IN ANY WAY SHALL LOOK ONLY TO THE ASSETS OF HEALTHVEST FOR THE PAYMENT OF ANY SUM OR PERFORMANCE OF ANY OBLIGATIONS. IN WITNESS WHEREOF, the parties hereto have set their hands the day and gear first above written. ATTEST: City C APPROYIT AS TO FORM: � � 4 ity Attorney .rector` of Encineering WITNESS: CITY OF FORT COLLINS A MUNICIPAL CORPORATION By: 2_� Steven C. Burkett City Manager HEALTHVEST, a Maryland Real Estate Investment Trust J�i Bv: I/[AA11 � i E. H. Weir President -2- hCP`rN # 87054591 09 " 8/87 10:42:38 # OF PAS 9 - 5 FEE - $15.00 M. RODENBEkGER, RECOk__R - LARIMER COUNTY CO STA'i- DOC FEE- $.00 AGREEMENT This Agreement is entered into August 21, 1987 by and between Everitt Enterprises Limited Partnership No. 1, a Colorado limited partnership, and KEM Homes, Inc., a Colorado corporation (collec- tively referred to herein as "Everitt and KEM"), and the City of Fort Collins, Colorado, a municipal corporation (the "City"). Recitals Everitt and KFM are the owners of certain real property with- in the City of Fort Collins, Colorado identified as Oakridge West P.U.D., First Filing, a Tract of Land located in the Northeast Quarter of Section 1, Township 6 North, Range 69 West of the 6th P.M., City of Fort Collins, County of Larimer, State of Colorado ("Oakridge"). on the Plat of Oakridge west P.U.D. First Filing (the "Plat"), Everitt and KEM are dedicating for public use certain property described on the Plat as Rule Drive. Additional property to the west of Rule Drive, identified on the Plat as Tract A -Utility Easement ("Tract A"), will he pres- ently dedicated by Everitt and KEM as a utility easement but will not be presently dedicated as a street. By this Agreement, the parties wish to set forth the terms and conditions on which Tract A will he subsequently dedicated for public use as a street. Agreement In consideration of the mutual covenants contained in this Agreement, and for other valuable consideration, the receipt and sufficiency of which is acknowledged, the parties agree as fol- lows: 1. Conditions for Dedication. At no cost to the City, Everitt and KEM will dedicate Tract A to and for public use as a street upon the earlier of the following events: a. The City's issuance of the first building permit for the Healthcare Colorado, Inc. Medical Office Building (Phase II: development as finally approved August 2.4, 1987), to the extent that Tract A is then necessary for access to said Building. b. The City's final approval of development of that parcel of land lying immediately to the north of Oakridge, presently owned by Everitt and KEM, which property is legally described on Exhibit A, attached and incorporated by refer- ence, to the extent Tract A is then necessary for access to said parcel. Page 1 of 3 �� c. The City's final approval of development of that parcel of land immediately to the west of Oakridge presently owned by Oak Farm Inc., which property is legally described on Exhibit. B, attached and incorporated by reference, to the extent that Tract A is then necessary for access to said parcel. 2. Costs of Improving Tract A. In the event Tract A is dedicated under Section 1 above, the dedication shall be of Tract A plus fully completed street improvements, including without limitation, street, curb, qutter, sidewalk, lighting, and utility improvements. All costs of constructing such improvements on Tract A will he borne by the landowner whose development has triggered the dedication. Such improvements shall be made in accordance witl all then existing applicable City requirements. 3. Term. If none of the events described in Section l(a) through l(c) above have occurred by August 21, 2008, then this Agreement shall. at that time become null and void, and all obliga- tions of Everitt and REM hereunder shall terminate without further action by any party. Furthermore, in the event of such termina- tion, any restriction contained on the Plat regarding the dedica- tion of Tract R shall become null and void without further action by any party. 4. Entire Understanding. This Agreement constitutes the entire understanding between the parties and incorporates all previous negotiations and agreements. Any change in the Agreement must be in writing executed by all parties. 5. Bindi.ng Effect. This Agreement shall be binding upon the parties, their respective successors, grantees and assigns. 6. Recording. This Agreement shall be recorded with the Clerk and Recorder of Larimer County, Colorado. Dated the date set forth above. FVERITT ENTERPRISES LIMITED PARTNERSHIP NO. 1, a Colorado limited partnership 3Y: EVERITT ENTERPRISES, INC., a Colorado corWration, Planaging Partner By: - Gera�YRaxton, president AT ST: Gar V. Sauder, Vice President/ Tre surer and Assistant Secretary Page 2 of 3 KEM HOMES, INC., a Colorado corpor tion By William R. Krug, Prresid$rlt ATTEST: (v\ t a y Hozie, sistant Secretary CITY OF FORT COLLINS, COLORADO, a municipal corpor ion City Manager ATTEST: City C1erK -- APPROVED,-jkS TO FORM: Z.-Paul Eckman, Assistant Ctty Attorney Page 3 of 3 James H. Stewart and Associates, Inc. j Consulting Engineers and Surveyors \v\\ 214 Norlh Howes Blreel 301 Uncoln Court P.O. Bo. 429 P.O. Bo. 429 rmt Collins, Colorado 80522 Fort Collins, Colorado 80522 (303) 462 9331 (303) 404 6309 DESCRIPTION OF KEM/EVERITT EXCEPT SOUTH LEMAY RIGHT-OF-WAY A tract of land situate in the Northeast 1/4 of Section 1, Township 6 Range 69 West, of the Sixth P.M., City of Fort Collins, County of Larinler, State of Colorado, which, considering the East line of said Northeast 1/4 as bearing S 00' 10' W, and with all bearings contained herein relative thereto, begins at a point on the West line of South Lemay Avenue which bears S 00' 10' W 1270.69 feet, and again N 89' 50' W 63.00 feet from the Northeast corner of said Section 1, and runs thence S 00' 10' W 491.52 feet; thence N 89° 50' W 637.00 feet; thence N 00' 10' E 462.21 feet; thence along the arc of a 400 foot radius curve to the right a distance of 29.34 feet, the long chord of which bears N 02' 16' 37" E 29.33 feet; thence S 89' 50' E 635.92 feet to the point of beginning, containing 7.1883 acres. �v�0 FhC a = o A A U ^ EXHIRIT A DEED FROM EVERITT ENTERPRISES, INC. TO OAK FARM INC. DATED JANUARY 5, 1982 A part of the Northeast of Section 1, Township 6 North, Range 69 West of the Sixth i'.M., City of Fort Collins, County of 1Larimer, State of Colorado, which, considering the east line of said Northeast k as bearing S 00*10' W, and with all bearings contained herein relative thereto, begins at a point on said east line which bears S 00'10' W 81.00 feet from the Northeast corner of said Section 1, and runs thence along said east line, S 00010' W 819.00 feet; thence N 89°50' W 300.00 feet; thence along the arc of a 400 foot radius curve to the left a distance of 628.32 feet, the long chord of which bears S 45°10' W 565.69 feet; thence S 00*10' W 1345.41 feet to the south line of said Northeast % to a point which bears N 89°56'50" W 700.00 feet from the East 4 corner of said Section 1; thence along the south line of said Northeast i, N 89°56'50" W 1800.95 feet; thence N 32°13'45" 11 284141 feet to the west line of said Northeast k; thence along said west line, N 00°11'05" E 1736.51 feet; thence S 89048'55" E 400.00 feet; thence N 00°11'05" E 565.00 feet to the southerly line of Colorado State Highway No. 68; thence along said southerly line, S 86°16' E 50.93 feet, and again along, said southerly line, N 83°39' E 603.60 feet; and again along said southerly line, N 89°55'30" E 600.00 feet, and again along said southerly line, N 89°45'15" E 921.30 feet, and again along said southerly line, S 46°21'31" E 70.00 feet, and again along said southerly line, N 89°55'30" E 30.00 feet to the point of beginning. EXHIBIT B