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HomeMy WebLinkAboutSTRACHAN SECOND - Filed OA-OTHER AGREEMENTS - 2008-07-21 (2)v.o MEMORANDUM OF UNDERSTANDING VICTOR F, BOGAARD, III, ("the Developer') located in the City of fortCollins ]mown as the Arena Office Buildin City has approved an Erosion Control Plan dated of certain real property Subdivision and g ("the Subdivision^). The Pursuant to Section 2.2 of the Cityrm Drainage 5 " Criteria^), the City has a , -�--, (the Plano), for the greed to accept a cash escrow in the amounttoOne Thousand aThree Hundred Twelve and 501100 Dollars ($1,312.50) ("the Cash Escrow") from the Developer to guarantee the Proper installation Plan and described in the Criterfa. and maintenance of the The Cash Escrow has erosion control measurers shown on the been received a the City. If, at any time, the Developer fails to e by the provisions of the Plan or the Criteria, the City may enter uabid pon the premises described in the Subdivision for the such improvements and undertaking such activities as may be necessary Provisions of the Plan and the Criteria are properly Purpose of making of the Cash Escrow as P Pe y enforced, sarY to ensure that the may be necessary The City may apply such portion administration, construction and/or installation oflthe erosion control measures ost' incurred y the City in undertaking the Plan and the Criteria. required by the Upon acceptance by the City of the initial installation of the erosion control m improvements required by the Plan and the Criteria, the Cash twenty-five percent (25 %) of the actual cost of such In easures and shall be held by the Cityto Escrow shall be reduced to w guarantee the continued maintenance and creplacement o the Cash Escrow measures for a period not to exceed two (2) years from the date of installation f the erosion control measures. Upon the expiration of said two (2) year period or the date of by the City that the required measures have been full completed with the Plan, whichever occurs firs[, the balance of the Cash Escrow smaintainede eam accordance r� e Developer and the right of access granted to the City under this Memorandum of Understanding shall be of no further force and effect. Until such time, the rights of the Memorandum of Understanding shall run rills the Subdivision and be binding subsequent owner thereof, as well as anParties under this -�� y assignee in interest of the Developer. upon any Dated this � day of � / 1995. DEVELOPER: THE CITY OF FORT COLLINS, VICT R F. BOGAARD III COLORADO, a municipal cor poration By: Glen Schlueter, Development Review Manager PROTECTIVE COVENANTS FOR FOOTHILLS SQUARE - PUD HCI, INC., and FOOTHILLS SQUARE, LTD., a limited partnership, owners of the following described real estate, to wit: Lot Strachen Subdivision, Colorado; Second Filing, Fort Collins, do hereby make the following declarations as limitations, restrictions and uses to which the said property may be put, and hereby specify that these declarations shall constitute covenants to run with all of the above described land, provided by law, and shall be binding on all Par ties and all persons claiming under them, and for the benefit limitations o of and all future owners of all or part of said tracts, thist. declaration being signed for the purpose of guaranteeing that said tracts Will be landscaped initially and kept in desirable condition in the future as herein specified. These landscape improvements as described in the landscape plot Plans submitted to the City of Fort Collins and on record therewith shall be made and installed in the manner as described in said plan unless amended pursuant to the approval of the City of Fort Collins. Upon beginning construction of any building upon the above described pro- perty the developer or owner shall cause the property contiguous to said building which is to be landscaped to be seeded and suitably planted with grass, trees and decorative shrubs pursuant to the provisions landscape plot plans of said excepting; however, lands necessary for construc- tion. It is further understood and agreed that the developer of said Property, the Owner or their assigns or successors in interest shall be responsible for the maintenance and care (including necessary replace- ment of dead trees or shrubs) of all "planted and landscaped' areas within said property.Should the developer or owner fail in any respect to comply with the terms of this agreement, the City of Fort Collins upon notifying said developer or owner in writing of the matters in regards to Which default is asserted and should the developer owner fail either to cure said default within thirty (30) days after receipt of such notice or to commence within twenty (20) days to rectify such default and con- tinue thereafter to use due diligence to rectify such default until it is fully rectified or cured, then the City of Fort Collins shall have the right to enter upon said property and perform the work necessary to re- place said landscaping and plantings or maintain same and the developer or current owner shall pay or cause to be paid to the such reasonable sums necesCity of Fort Collins sary to reimburse said City of Fort Collins for the labor and material expended to complete or maintain said land- scaping or plantings which payment shall be made within ten (10) days after receipt of billing. If said billing is not paid, then the said City of Fort Collins pursuant to the authority granted by these covenants shall have a lien on all property and improvements thereto within the particular tract of land within such described property on which said work was performed, said lien to be exercisable by filing a notice of said lien against said property and improvements thereto; ever, that the City of Fort Collins shall not hprovided, how - property a li Property prior to that oen against such f any valid mortgage or deed of trust. of Fort Collins shall be entitled The City to all rights remedies existing of foreclosure or other Pursuant to Colorado law for enforcement of liens against real property and may also at its discretion without waiving any other rights it may have pursuant to law, proceed directly with legal action against the developer or successors in interest -to current owner, their assigns, or collect Payment of the reasonable amounts so expended pursuant to the terms hereof. Dated at Fort Collins, Colorado, this -fit, day of a 1977. HCI, IN ,.,'a Colo do ATTEST: - Corporation resl an secretary ATTEST: :Secretary FOOTHILLS SQUARE, LTD., a Limited Partnership BY .HCI INC., Gen ral Partner ` BY: rest en