HomeMy WebLinkAboutWILLOW SPRINGS NORTH PUD - Filed DA-DEVELOPMENT AGREEMENT - 2004-03-17WILLOW SPRINGS NORTH PUD
AMEN DMENT AGREEMENT NO. 1
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'I7 ITS AMENDMENT AGREEMENT', made and entered into this i 1 Day of
of 199-�K by and between the CITY OF FOKI'COJ..I .I NS, COLORADO, a municipal J
corporation, ("City") and Andover I )evelopment Partners Willow Springs, I.[,C, a 1 exas Limited
Liability Company and Paragon Point Partners Limited Partnership. a Colorado Limited
Partnership ("Developer"), is an amendment to that certain Development Agreement dated
February 27. 1998 by and between the City and the Developer, hereinafter referred to as the
"Development Agreement."
WI (F.RF.AS, the City and the Developer previously executed the Development
Agreement; and
WHEREAS, Andover Development Partners, LLC assigned its right to purchase the
1557 acre site far the development of 280 apartment units to be located on Tract A, Willow
Springs North PUD to Andover Development Partners Willow Springs, LLC; and
WHEREAS, Andover Development Partners Willow Springs, LLC subsequently closed
on the 15.57 acres site for the development of 280 apartment units and became the owner of the
15-57 acres site, and thereby assumed the obligations of Andover Development Partners, LLC
pursuant to the Development Agreement; and
WHEREAS, the parties presently desire to modify the Development Agreement;
NOW, TI IVRF.FORF., in consideration of the promises of the patties hereto and other
good and valuable consideration, the receipt and adequacy of which are hereby acknowledged,
the parties here to agree to amend the terms and conditions of the Development Agreement as
follows:
A. Subheading 11 (Special Conditions) Paragraph D the following paragraph shall be added:
5. Notwithstanding any provision in this Agreement to the contrary. the
Developer shall have the right to obtain building permits for the construction of bui Idings
3, 12, 13 and 14 on the Property, as identified on the Plat, and simultaneously constrict
the public infrastructure improvements required to serve Tract A, as identified in
EXHIBTI "A" to the Development Agreement. 77te public infrastructure improvements
serving Tract A, as identified in EXHIBIT "A" to the Development Agreement, shall be
completed in accordance with the approved utility plans therefor and accepted by the City
prior to the issuance of any certificate of occupancy for any structure on Tract A.
B. All other terms and conditions of the Development Agreement shall remain unchanged and in
full force and effect, except as expressly amended in this .Amendment Agreement No 1.
1N W l'1 NLSS WFILRLOF, the parties hereto have set their hands the day and y: ar Ilrst
above written.
ATTEST:
CITY CLERK
APPROVFD AS TO CONTENT:
Director of Engineering
APPROV AS'1.0 FORM:
i
Deputy City Attorney
T[ II? CITY OF FORT COLLINS, COLORADO,
a Municipal Corporation
By: h. fir+
City Maiager
DEVELOPER:
Andover Development Partners Willow Springs,
LLC, a Texas Limited Liability Company
By: c�W --
Bob Campbell, VU President
Paragon Point Partners Limited Partnership, a
Colorado Limited Partnership
By: Trustar Inc., a Colorado Corporation, as
General Partner
By: Z y" /!.
Byron R- Collins, President
AT1'EST:
i_ Collins, Secretary