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HomeMy WebLinkAboutGREYROCK COMMONS - Filed OA-OTHER AGREEMENTS - 2004-08-09AGREEMENT CONCERNING WATER LINE EXTENSION THIS AGREEMENT is made this 2�1 "� day of October, 1993, by and between LINDER REAL ESTATE AND DEVELOPMENT CO., a Colorado Corporation (Seller) and FORT COLLINS COHOUSING COMMUNITY, Limited Liability Company (Buyer), WITNESSETH WHEREAS, Buyer has agreed to purchase from Seller Lots 1 and 2 of Briarwood M.R.D. andan option to purchase Tract A; and WHEREAS, Buyer and Seller both agree that the extension of the six inch (6") water main from the end of the existing cul-de-sac to the south border of Tract A is unnecessary and would result in needless expense to Buyer if installed; and WHEREAS, Seller has arranged with the City of Fort Collins to post a $8,742 Letter of Credit to secure the installation of said line to allow the City to consent to the recording of the Briarwood M.R.D. plat so that Buyer can proceed with their purchase and development plans; and WHEREAS, the City of Fort Collins has agreed that if Buyer is successful in replanning and replatting Lots 1, 2, and Tract A of the Briarwood M.R.D., then at the time of Latimer County Commissioner's final approval of their P.U.D. (now known as Greyrock Commons P.U.D.), the City shall release Linder Real Estate and Development Co. from its obligations to install said water line and return the Letter of Credit to it and look to the Buyer or Buyer's developer for completion of whatever utilities are necessary and required for their plan; and NOW THEREFORE, in consideration of the premises and of the covenants hereinafter set forth, the parties mutually agree as follows: 1. If Buyer decides to cancel its development plans for whatever reason and resells Lots 1 and 2 and fails to exercise the option on Tract A, then this Agreement is null and void and Seller's obligation to complete the water line is unchanged. 2. If Buyer's plans are approved at their final hearing by the Commissioners, then at that time, Buyer agrees to be responsible for whatever utilities are required with their plan and agrees that Seller is then at this time released from its obligations to complete this six inch line (See Exhibit A). Buyer agrees to cooperate with Seller to obtain release of his letter of credit in whatever way required, including posting collateral of Buyer's own. It is anticipated that Buyer's Subdivision Improvement Agreement with Larimer County will accomplish this. If Buyer's plan requires this water line, even in its present alignment after final approval, the obligation to construct said line shall be the Buyer's responsibility. Seller has not installed said line, or charged for it in the purchase price of Lots 1, 2 or Tract A, and has acted in good faith. to save Buyer from incurring an unnecessary expense. Buyer has no rights or basis to expect to use or receive said line extension or Seller's escrow collateral. 3. If either party shall default in the performance of this Agreement, the party not in default may seek any available remedy in law or at equity in the pursuit of which they shall be entitled to recover as damages reasonable attorney's fees. 4. Time shall be of the essence in this Agreement, and it is mutually agreed that all of the covenants and agreements herein contained shall extend to and be binding upon the heirs, executors, successors, and assigns of the respective parties. IN WITNESS WHEREOF, the parties have hereunto set their hands and seals the day and year first above written. SELLER: LINDER REAL ESTATE AND DEVELOPMENT CO A Colorado Corporation By: /T •_ Mark A. Linder, President BUYER: FORT COLLINS COHOUSING COMMUNITY, Limit iabil y zvw6l B anager EXHIBI TO AGREEMENT CONCERNING WATER IE EXTENSION /,. 06-W n, I 1 i � a C cr f I � T � C I 5)1 N�-�'N T/FYN/l1.Pav� - 1 5 D @ p b D a Ln z R 1y �Nvct/ Csns l .. n c m z c-� x \ m A � H Z o c E n x n m � r N u u m W m z m m � CD 0 z o m RCPTN # 94679637 09/25!94 13:46:00 # PAGES - 6 FEE - DOC FEE - $.00 $.00 M RODENBERGER RECORDER, LARIMER COUNTY CO STATE FINDINGS AND RESOLUTION Approving the Master Plan, Rezoning & Preliminary Phase Plan of Greyrock Commons Planned Unit Development The application for the Greyrock Commons Planned Unit Development Master Plan, Rezoning, and Preliminary Phase Plan upon the property described on Exhibit "A" attached hereto has heretofore been filed with the Board of County Commissioners of the County of Larimer. The Urban Growth Area Review Board on July 27, 1994 reviewed the proposed Planned Unit Development and Rezoning and having duly considered the same recommended that it be denied. On September 12, 1994, in the County Board Hearing Room of the Larimer County Courthouse, Fort Collins, Colorado, the Board of County Commissioners of the County of Larimer conducted a public hearing on said rezoning, master plan and preliminary phase plan of this Planned Unit Development. The Board of County Commissioners having heard the testimony and evidence adduced at said hearing, and having considered and carefully weighed the same, and having received the recommendations of the County Planning Staff, now makes the following findings: 1. Notice of this hearing upon the rezoning, master plan, and preliminary phase plan of the proposed Planned Unit Development has been duly advertised in a local newspaper of general circulation as required by law. B Findings and Resolution Greyrock Commons PUD and Rezoning Page 2 2. Written notice of this hearing has been delivered or mailed, first class, postage prepaid, to adjoining landowners of the proposed Planned Unit Development. 3. The County Planning Staff and County Engineer have made certain recommendations concerning this Planned Unit Development which recommendations are contained in the agenda for the September 12, 1994 meeting of the Board of County Commissioners and are filed with the record of this proposal. 4. The proposed Greyrock Commons Planned Unit Development is generally consistent with the Larimer County Land Use Plan, the Intergovernmental Agreement and the Planned Unit Development Resolution concerning proposed use, density of development and urban design. 5. Approval of the proposed master plan, preliminary phase plan and rezoning, with the following conditions, will not adversely impact adjacent uses, the transportation system, provision of ;services or the natural environment. RESOLUTION WHEREAS, the Board of County Commissioners has made its findings upon the application for a Planned Unit Development and Rezoning and upon the resolution of the Larimer County Planning Commission, which findings precede this resolution, and by reference are incorporated herein and made a part hereof; and Findings and Resolution Greyrock Commons PUD and Rezoning Page 3 WHEREAS, the Board of County Commissioners has carefully considered the application, resolution, evidence and testimony presented to it:, and has given the same such weight as it in its discretion deems proper, and is now fully advised in the premises; NOW, THEREFORE, BE IT RESOLVED THAT: 1. The Master Plan for Greyrock Commons Planned Unit Development and the Rezoning from FA -Farming to R-Residential as proposed on the property described on Exhibit "A" be and the same is hereby approved: 2. The following variances shall be and the same are hereby approved: a. Approval of the off -site road waiver with the condition that a street impact fee of $700 per unit shall be paid at the time of building permit issuance and that owners agree to join a road improvement district if one is formed in the future. b. Approval of the private road system with 24' pavement width without curb, gutter and sidewalk, provided requirements of the County Engineer are met. C. Approval of the proposed lot size variance. d. Approval of the proposed structures other than detached single-family residences within 100' of the southern boundary of the project. Findings and Resolution Greyrock Commons PUD and Rezoning Page 4 3. The Phase Plan for Greyrock Commons Planned Unit Development shall be and the same is hereby approved with the following conditions: a. All conditions and requirements of the County Engineer, the Poudre Fire Authority, the Elliot lateral and the New Mercer Ditch Company, and the utilities must be reflected in the final plat and final utility and drainage plans. b. An annexation agreement shall be submitted with the final plat. C. An amended plat for Briarwood Minor Residential Development must be submitted at the time the final plat is submitted. d. The following notes shall appear on the final plat: i. Off -site road improvement fees of $700 per unit shall be collected at the time of building permit issuance. ii. Park fees shall be collected at the time of building permit issuance. iii. Radon testing shall be required prior to issuance of a Certificate of Occupancy. iv. All construction shall be consistent with the recommendations of the Geotechnical Engineering Report; engineered foundations shall be required. Findings and Resolution Greyrock Commons PUD and Rezoning Page 5 V. Road maintenance is the responsibility of the Homeowner's Association of Greyrock Commons Planned Unit Development. vi. An annexation agreement has been executed for this property. e. Access agreements with adjacent property owners must be finalized prior to approval of the final plat. way. f. The cul-de-sac bulb shall remain as public right-of- g. Speed control measures shall be provided by appropriate si.gnage and speed control devices in the pavement surface as approved by the County Engineering Department. h. The applicant shall explore the concept of creating a conservation easement on the designated native slanting area. Commissioners Hotchkiss, Disney and Duvall voted in favor of the Findings and Resolution. The Findings and Resolution were duly thus duly adopted. DATED this k� day of ( (((�??? 19 as cof.•Sepdmbe,r 12, 1994. = BOARD OF COMMISSIONERS OF LARIMER COU T)hOLORADO By: ATTS�T: Deputy Cle DATE APPROVED S TO FORM l Assistant ounty Attorn y Exhibit A A tract of land situate in the Southeast } of Section 4, Township 7 North, Range'69 West of the 6th P.M., Larimer County, Colorado, which considering the East line of the said Southeast ; as bearing N 00° 00' 00" E and with all bearings contained herein relative thereto is contained within the boundary lines which begin at a point on the North line of Liberty Meadows Subdivision which bears S 00` 00' 00" W 1678.40 feet and again N 89 54 45 W 534.92 feet from the East 1 corner of said Section 4 and run thence N 89° 54' 45" W 765.00 feet; thence N 00` 10' 06" W 358.98 feet to a point on the South line of the North s of the said Southeast '—.; thence along said South line, N 89? 56' 56" W 14.21 feet. thence N 00' 05' 46" W 657.90 feet to a point on the North line of the South 2.of the Northwest } of the said Southeast :; thence N 89' 59 25 E 3.71 feet to the Center —North Southeast 1/64 corner of said Section 4; thence along the West line of the East 2 of the said Southeast i, N 00' 11' 31" W 0.92 feet; thence N 90' 00' 00" E 652.58 feet; thence S 00' 00' 00" E 660.00 feet; thence N 90' 00.' 00" E 125.63 feet; thence S 00' 05' 15 W 358.98 feet to the point of beginning, containing 16.2357 acres more or less and being subject to all easements and rights —of —way now of record.