HomeMy WebLinkAboutSUNDERING TOWNHOMES PUD SECOND - Filed OA-OTHER AGREEMENTS - 2004-02-27Sundering Townhomes P.U.D.
Amendment Agreement No.2
(Sundering Townhomes P.U.D., Filing Two)
� THIS AMENDMENT AGREEMENT, is made and entered into this/6-I day of
K- —, 144 by and between the CITY OF FORT COLLINS, COLORADO, a
municipal corporation ("City"), and HIGHLAND DEVELOPMENT, a Colorado
general partnership ("Developer"), is an amendment to that certain
Development Agreement dated the 2nd of September, A.D. 1990, by and between
the City and HILL POND PROPERTIES LIMITED (the "Development Agreement).
WHEREAS, the parties hereto previously executed a Development
Agreement on September 2, 1980, which agreement was modified in part by an
Amendment Agreement No.1, dated April 16, 1985; and
WHEREAS, the parties are presently desirous of further modifying the
original Development Agreement referred to above and of superceding the
above mentioned Amendment Agreement No.1;
NOW THEREFORE, in consideration of the initial 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:
Paragraph 3 of Exhibit "A" of the development agreement and Amendment
Agreement No.1 is hereby amended to provide as follows:
3. Schedule of street improvements to be installed out of sequence.
( i ) . The Developer shall be responsible for the removal of the
street, sidewalk, curb and gutter, grading, landscaping (and for the
installation of replacement improvements acceptable to the City) of
Shire Court from Weathertop Lane to Shields Street. A landscaping
and improvement plan shall be submitted by the Developer, and
approved by the City before any construction takes place. Prior to
the issuance of building permits for the final five units of the
development, the Developer shall either complete construction of the
improvements required by the abovementioned landscaping and
improvement plan or shall pay to the City the total estimated cost of
such construction of improvements. Construction shall be required of
the Developer in lieu of payments if a second point of access becomes
available to the Development.
( i i ) . The parties acknowledge that the final plat shows Hill Pond
Road abutting the East portion of the development property and that a
portion of this street may not, in fact, be constructed as part of
this development. The parties further acknowledge that, under
Section 99-6.C.(4) of the Code of the City of Fort Collins, the
developer is liable for improvement of the adjacent portion of said
Hill Pond Road. Accordingly, prior to the issuance of building
permits for the final five units of the development, the developer
agrees to pay the City an amount equal to 100°% of its share of the
estimated costs for the improvement of said street, which cost
estimate is subject to the approval of the City Engineer. Said
improvements are to include, but not be limited to water and sewer
lines, pavement, curb, gutter, and sidewalk. The actual physical
improvements of said street will be undertaken at a future point in
time to be determined by the City, with the cost of such future
improvements to be borne by the City and any then existing third
party developer of property adjacent to said Hill Pond Road. No
additional monetary contribution will be required of this developer
for such improvement, provided that no additional property is
subsequently developed by this Developer adjacent to said street.
Paragraph 5 of Exhibit "A" of the Development agreement is hereby
deleted.
Except as herein amended or modified, the Development Agreement shall
continue in full force and effect. Amendment Agreement No.1, dated April
16,1985, is superseded by this Agreement and shall hereafter be null and
void and of no effect. This Agreement, the Development Agreement, and
Amendment Agreement No.1 constitutes the entire understanding of the
parties.
IN WITNESS WHEREOF, the parties hereto have set their hands the day
and year first written.
ATTEST:
Ci lerk�
APPROVED:
CiLy A torney '
i
Ci y Engineer
CITY OF FORT COLLINS
a municipal,,gorporation
City Manager
HIGHLAND DEVELOPMENT, a Colorado
general partnership
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F.Payn-6 \Managing Partne
kr
Berkley H. Cnway, Managing
Partner