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Home My WebLink AboutREGENCY PARK PUD - Filed OA-OTHER AGREEMENTS - 2004-02-03AMENDMENT AGREEMENT THIS AMENDMENT AGREEMENT is made and entered into this - day of / , 1987, by and between the CITY OF FORT COLLINS, COLORADO (C ty), and HOME FEDERAL SAVINGS AND LOAN ASSO- CIATION OF THE ROCKIES, INC. (Home Federal), and constitutes an amendment to that certain Development Agreement dated August 31, 1983, by and between the City and Bob Peterson (the Development Agreement), and that certain Amendment Agreement No. 1, by and between the City and Harmony Village Joint Venture (Amendment Agreement No. 1). WITNESSETH: WHEREAS, on August 31, 1983, the City entered into a Devel- opment Agreement with Bob Peterson affecting certain property located in the City of Fort Collins and known as the Villages at Harmony West P.U.D., First Filing; and WHEREAS, on March 18, 1985, the City entered into an Amend- ment Agreement with respect to the property known as the Villages at Harmony West P.U.D., First Filing, and also therein known as Belair P.U.D., said Amendment Agreement being between the City and Harmony Village Joint Venture; and WHEREAS, Home Federal has come into ownership of the Vil- lages at Harmony West P.U.D., First Filing, a/k/a Belair P.U.D. and is presently desirous of developing a portion of the same; and WHEREAS, the purpose of this Amendment Agreement is to amend the provisions of the Development Agreement as amended by Amend- ment Agreement No. 1, with respect to the northerly portion of the property known as Villages at Harmony West P.U.D., First Fil- ing, a/k/a Belair P.U.D.; and WHEREAS, Home Federal is further desirous of changing the name of the Villages at Harmony West P.U.D., First Filing, a/k/a ,,Belair P.U.D. to "Regency Park P.U.D."; and /, - ^ Except Lot 15 WHEREAS, the purpose of this Amendment Agreement is to amend the Development Agreement as amended pursuant to Amendment Agree- ment No. 1 with respect only to the northerly portion of the property, which is to be known as Regency Park P.U.D., Phase 1, and it is anticipated that the Development Agreement, as amended by Amendment Agreement No. 1, will further be amended at a subsequent time with regard to the southernmost portion of the property, to be subsequently developed. NOW, THEREFORE, in consideration of the promises and cove- nants of the parties hereto and other good and valuable consider- ation, the receipt and adequacy of which is hereby acknowledged, the parties agree as follows: 1. With respect to Regency Park P.U.D., Phase 1, that cer- tain Amendment Agreement known as Amendment Agreement No. 1, dated March 18, 1985, by and between the City and Harmony Village Joint Venture, is hereby terminated and, by this Amendment Agree- ment, rendered null and void. 2. The property which is the subject of this Amendment Agreement shall be referred to as the Regency Park P.U.D., Phase 1, located in the Southeast Quarter of Section 34, Township 7 North, Range 69 West of the 6th P.M., in the City of Fort Col- lins, County of Larimer, State of Colorado. 3. Paragraph 2(c)(i) of the Development Agreement shall be amended to provide as follows: "(i) All required storm drainage facilities shall be constructed by the Developer and approved by the City Engineer prior to the release of more than twenty-six building permits." 4. Paragraph 2(c)(iii) of the Development Agreement is hereby deleted. 5. Paragraph 2(c)(v) of the Development Agreement is amended to provide as follows: "(v) The Developer shall construct such storm drainage improvements as are described in Paragraph 8 hereof, and upon completion of said storm drain- age facilities and improvements, and acceptance thereof by the City, the City shall assume respon- sibility for the maintenance of such facilities. Notwithstanding the foregoing, acceptance thereof by the City shall not be deemed to be acceptance by the City of the responsibility for maintenance of landscaping of Detention Pond No. 1, which lands- caping shall be maintained by the Developer for a period of two (2) years following acknowledgment by the City of the completion of Detention Pond No. 1 and the initial installation of landscaping. 6. Paragraph 2(d) of the Development Agreement shall be amended to provide as follows: "d. Streets (oversizing, traffic lights, etc.). The City agrees to repay the Developer for oversizing Seneca Street to collector standards in lieu of local street standards in accordance with Section 99-6F of the Code of the City. Except for the 533 feet of Regency Drive, which has already been con- structed from the intersection of Harmony Road and Regency Drive northward, the City agrees to repay the Developer for the oversizing of Regency Drive -2- to collector standards in lieu of local street standards in accordance with Section 99-6F of the Code of the City. With respect to the construction of off -site improvements to Harmony Road, the City and the Developer agree that there shall be no oversizing reimbursement due to the Developer by the City for any improvements made to Harmony Road. The Devel- oper agrees to design and reconstruct a portion of Harmony Road from approximately Starflower Drive to a point 1400 feet, more or less, east of Starflower Drive with a 36' wide arterial pavement thickness and related improvements in accordance with Section 99-6B(6) of the City Code. The Developer shall complete the design and reconstruction prior to issuance of more than twenty six building permits. The Developer may be entitled to reimbursement for the construction of portions of Harmony Road in accordance with Section 99-6B(6) of the Code of the City. These improvements shall constitute the full obligation for off -site street improvements for the first and second phases of Regency Park P.U.D. (as presently constituted) provided that the proposed residential unit density and land use remains the same. The on -site improvements to Harmony Road shall be constructed with the second phase of this develop- ment, which phase fronts on Harmony Road. The details of those improvements shall be determined at the time final plans are submitted for that phase. 7. Exhibit "A", Paragraph 3 of the Development Agreement is amended to provide as follows: "3. Schedule of Street Improvements to be Installed out of Sequence. See Paragraph 2 (d)." B. Exhibit "B" of the Development Agreement contains a cost estimate for major storm drainage improvements to be per- formed by the Developer. Subsequent to the execution of the Development Agreement in 1983, certain portions of the storm drainage basin improvements have been completed, or partially completed. Accordingly, the Developer of Regency Park P.U.D., Phase 1, shall not be required to complete all items as outlined on Exhibit "B", some having previously been completed. The items that the Developer shall be required to complete are as follows: -3- ITEM DESCRIPTION QUANTITY UNIT COST _ TOTAL COST 1. Concrete inlet construction for 18" R.C.P. w/trash safety guard, Pond #1 1 $1,200.00 $ 1,200.00 2. 2' wide subsurface drain Pond #1 280' 6.29/L.F. 1,762.00 3. Debris Removal Pond #1 Lump Sum 1,500.00 Final grading and seeding of Detention Pond #1 8.29 ac 500.00/ac 4,145.00 5. 2 year landscape maintenance for Detention Pond #1 8.29 ac 1,687.58 $13,990.00 6. Administrative fee 800.00 TOTAL $23,397.00 Included in item #5 a. Fertilizer b. Broadlead control C. Water truck irrigation d. Mowing maintenance All improvements to be constructed by the Developer as above described shall be contracted for by the Developer through a com- petitive bidding process. The City shall make reimbursement to the Developer for all completed and accepted improvements as above listed, following City verification of all costs and expenses of the Developer in constructing the same. City reim- bursement shall be limited to those costs which are reasonable and are proven to have been .incurred by the Developer. The Developer shall obtain permission from all third parties as may be necessary to gain access upon lands owned by such third parties in order to accomplish the aforesaid improvements; and the Developer shall hold the City harmless from any claims or actions which may be filed against the City with regard to dam- ages or injuries incurred as a result of the Developer's activi- ties in accomplishing said improvements. 9. Except as herein modified and amended, the Development Agree;..ent shall continue in full force and effect , as the same relates to Regency Park I'.U.D. Phase I and the plans, plats and conditions related to it, some i, of such plans, plats and conditions being different than referenced in the Development Agreement. -4- IN WITNESS WHEREOF, the parties hereto have set their hands the day and year first above written. CITY OF FORT COLLINS A Municipal Corporation gy ity Manager ATTEST: city Clerk APPROVED S TO FORM: Lt Assistant City Attorney ATTEST: J—osepb A. Zahn, Jr. Assistant Vice Presi ent CORPORATE SEAL HOME FEDERAL SAVINGS AND LOAN ASSOCIATION OF THE ROCKIES By James R. Vogge9ser Senior Vice President -5- WPE AMNDMT.AGT