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HomeMy WebLinkAboutPARAGON POINT PUD PHASE 2 - Filed OA-OTHER AGREEMENTS - 2004-01-14PARAGON POINT P.U.D., PHASE TWO AMENDMENT AGREEMENT NO.1 THIS AMENDMENT AGREEMENT, made and entered into this ItA day of h<,. , of 199 3, by and between the CITY OF FORT COLLINS, COLORADO, a municipal corporation, hereinafter referred to as the "City" and PARAGON POINT PARTNERS, a Colorado limited partnership, hereinafter referred to as the "Developer", is an amendment to that certain Development Agreement dated the 30th of November, A.D. 1992, by and between the City and the Developer "Development Agreement." WHEREAS, the parties hereto 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; subsection 2 shall be modified by adding the following paragraph: The Developer and the City agree that the completion of Trilby Road improvements must be delayed until weather conditions improve to allow for the asphalt paving to be completed. Notwithstanding the limitations set forth in this Agreement for the issuance of certificates of occupancy, the Developer shall have the right to apply for the issuance of up to 9 certificates of occupancy for this development prior to the completion of said improvements following the escrow of funds to be deposited with the City in the form of cash, bond, nonexpiring letter of credit or other form of City approved security sufficient to guarantee completion of the remaining improvements. The escrow amount required of the Developer shall be 150% of the Developer's portion of the contract amount with his contractor for the completion of Trilby Road. In addition the Developer and the City agree that the Developer shall be responsible for the maintenance of the existing gravel road bed of Trilby Road until the construction is complete and accepted by the City. Said maintenance shall consist of grading to level out wash board surface, rutting and holes and repair any other conditions that may result in unsafe driving conditions. If it is necessary that such maintenance be performed, the Developer shall respond promptly by taking the necessary action following notice given by the City. 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. THE CITY OF FORT COLLINS, COLORADO, a Municipal Corporation 12 / C/V ►' By: C City Manager ATTEST: � ; ski CITY CLERK;_ APPROVED AS TO CONTENT: / - k/) " Di ector of nginee APPROV AS TO FORM: G City Attorney DEVELOPER: PARAGON POINT PARTNERS, a Colorado limited partnership By: Trustar, Inc., a Colorado corporation, as General Partner Byron R. Collins, President ATTEST: By: �J x (_✓.h, Rut G. Collins, Secretary PARAGON POINT P.U.D., PHASE TWO AMENDMENT AGREEMENT NO.1 THIS AMENDMENT AGREEMENT, made and entered into this G'`' day of of 199`-, by and between the CITY OF FORT COLLINS, COLORADO, a municipal corporation, hereinafter referred to as the "City" and PARAGON POINT PARTNERS, a Colorado limited partnership, hereinafter referred to as the "Developer", is an amendment to that certain Development Agreement dated the 30th of November, A.D. 1992, by and between the City and the Developer "Development Agreement." WHEREAS, the parties hereto 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; subsection 2 shall be modified by adding the following paragraph: The Developer and the City agree that the completion of Trilby Road improvements must be delayed until weather conditions improve to allow for the asphalt paving to be completed. Notwithstanding the limitations set forth in this Agreement for the issuance of certificates of occupancy, the Developer shall have the right to apply for the issuance of up to 9 certificates of occupancy for this development prior to the completion of said improvements following the escrow of funds to be deposited with the City in the form of cash, bond, nonexpiring letter of credit or other form of City approved security sufficient to guarantee completion of the remaining improvements. The escrow amount required of the Developer shall be 150% of the Developer's portion of the contract amount with his contractor for the completion of Trilby Road. In addition the Developer and the City agree that the Developer shall be responsible for the maintenance of the existing gravel road bed of Trilby Road until the construction is complete and accepted by the City. Said maintenance shall consist of grading to level out wash board surface, rutting and holes and repair any other conditions that may result in unsafe driving conditions. If it is necessary that such maintenance be performed, the Developer shall respond promptly by taking the necessary action following notice given by the City. 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. THE CITY OF FORT COLLINS, COLORADO, a Municipal Corporation By: City Ma ager ATTEST: CITY CLERK APPROVED AS TO CONTENT: / > Gi7i Di ector of Engineers V /A PROVEIS�AS TO FORM: City Attorney DEVELOPER: PARAGON POINT PARTNERS, a Colorado limited partnership By: Trustar, Inc., a Colorado corporation, as General Partner ATTEST: By: Ruth G. Collins, Secretary 4 j, Byron R. Collins, President SEAL OF