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Home My WebLink AboutPROVINCETOWNE THIRD AMENDMENT AGREEMENT # 3 - Filed DA-DEVELOPMENT AGREEMENT - 2011-10-03PROVINCETOWNE FILING NO. 3 AMENDMENT AGREEMENT NO.3 THIS AMENDMENT AGREEMENT, made and entered into this L1k day of .,sA 2011, by and between the CITY OF FORT COLLINS, COLORADO, a Municipal Corporation, hereinafter referred to as the "City"; and Provincetowne West LLC, a Colorado limited liability company, Provincetowne Green LLLP, a Colorado limited liability limited partnership, and Trilby 6608, LLC, a Colorado limited liability company, hereinafter referred to collectively as the "Developer." WITNESSETH; WHEREAS, the City entered into a Development Agreement with KB Home Colorado, Inc. (as "Developer") on November 21, 2006, the terms of which govern the development activities of the Developer pertaining to that certain real property situated in the County of Larimer, State of Colorado, (hereafter referred to as the "Property") and legally described as follows, to wit: Provincetowne Filing Three, City of Fort Collins, County of Larimer, State of Colorado. WHEREAS, the Development Agreement was amended by Amendment Agreement No. 1 on May 3, 2007 and Amendment Agreement No. 2 on April 28, 2011. WHEREAS, the parties presently desire to again modify the Development Agreement by this Amendment Agreement No. 3; WHEREAS, Community Affordable Residences Enterprises, Inc, now Provincetowne Green LLLP was incorrectly named Community Resources Residences Enterprises, Inc. in Amendment Agreement No. 1 and Amendment Agreement No. 2. Provincetowne Green LLLP, on behalf of itself and its predecessor entities hereby acknowledges and agrees that it entered into these other agreements under the name of Community Resources Residences Enterprises, Inc and agrees to be bound by the terms under those agreements. NOW, THEREFORE, in consideration of the promises of the parties hereto and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto agree to amend the terms and conditions of the Development Agreement as follows: A. Subheading II (Special Conditions) Paragraph C.l.c) through C.l.j) as contained in Amendment Agreement No. 1 shall be replaced with the following: c) All on -site and off -site storm drainage improvements associated with Phase 3A of this RECEPTION#: 20110056701, 09/19/2011 at 10:44:51 AM, 1 OF 7, R $41.00 TD Pgs: 0 Scott Doyle, Larimer County, CO °.ity Clerk's Office, Fort Collins, Colorado Development, as shown on the Final Development Plan Documents, shall be completed by the Developer in accordance with said Final Development Plan Documents prior to the issuance of more than 14 building permits in Phase 3A of the Development. Phase 4A, 413, and 4D storm drainage improvements shall be built before the start of any Phase 3A construction activity. d) All on -site and off -site storm drainage improvements associated with Phase 3B of this Development, as shown on the Final Development Plan Documents, shall be completed by the Developer in accordance with said Final Development Plan Documents prior to the issuance of more than 16 building permits in Phase 3B of the Development. Phase 4A, 413, and 4D storm drainage improvements shall be built before the start of any Phase 3B construction activity. e) All on -site and off -site storm drainage improvements associated with Phase 4A of this Development, as shown on the Final Development Plan Documents, shall be completed by the Developer in accordance with said Final Development Plan Documents prior to the issuance of more than 8 building permits in Phase 4A of the Development. f) All on -site and off -site storm drainage improvements associated with Phase 4B of this Development, as shown on the Final Development Plan Documents, shall be completed by the Developer in accordance with said Final Development Plan Documents prior to the issuance of more than 5 building permits in Phase 4B of the Development. This includes the temporary swale shown on sheet 23A, which shall be built with this phase. Phase 4A storm drainage improvements shall be built before the start of any Phase 4B construction activity. g) All on -site and off -site storm drainage improvements associated with Phase 4C of this Development, as shown on the Final Development Plan Documents, shall be completed by the Developer in accordance with said Final Development Plan Documents prior to the issuance of more than 8 building permits in Phase 4C of the Development. Phase 4A, 413, and 4D storm drainage improvements shall be built before the start of any Phase 4C construction activity. h) All on -site and off -site storm drainage improvements associated with Phase 4D of this Development, as shown on the Final Development Plan Documents, shall be completed by the Developer in accordance with said Final Development Plan Documents prior to the issuance of more than 12 building permits in Phase 4D of the Development. Phase 4A storm drainage improvements shall be built before the start of any Phase 4D construction activity. i) All on -site and off -site storm drainage improvements associated with Phase 4E of this Development, as shown on the Final Development Plan Documents, shall be completed by the Developer in accordance with said Final Development Plan Documents prior to the issuance of more than 8 building permits in Phase 4E of the Development. Phase 4A, 413, 4C and 4D storm drainage improvements shall be built before the start of any Phase 4E construction activity. 2 j) All on -site and off -site storm drainage improvements associated with Phase 5 of this Development, as shown on the Final Development Plan Documents, shall be completed by the Developer in accordance with said Final Development Plan Documents prior to the issuance of any certificate of occupancy in this commercial Phase 5 of the Development. k) In all cases, completion of improvements shall include the certification by a professional engineer licensed in Colorado that the drainage facilities which serve any particular phase of Development have been constructed in conformance with said Final Development Plan Documents. Said certification shall be submitted to the City at least two weeks prior to the date of issuance of additional building permits in each phase. B. Subheading II (Special Conditions) Paragraph DA. as contained in Amendment Agreement No. 1 shall be replaced with the following: 4. Phases 1 B, 4A and 5 of this Development may be constructed at any time because Phases 1 B, 4A and 5 are not dependent on any other phase for infrastructure improvements. Phase 1B must be constructed prior to Phase 1, 2, 3A, or 3B of this Development. Phase 1 must be constructed prior to Phase 2, 3A, or 3B. Phase 3A must be constructed prior to Phase 2 or 3B and Phase 3B must be constructed prior to Phase 2. Phase 4A must be constructed prior to phase 4B. Phase 4A and 4B must be constructed prior to Phase 4C. Phases 4A and 4B must be constructed prior to Phase 4D. Phases 4A, 413, and 4C must be constructed prior to Phase 4E. No building permits will be issued within Phases 2 and 3B until the streets and utilities within the preceding phases have been completed in accordance with Section I.C. of this agreement. C. Subheading II (Special Conditions) Paragraph D.5 shall be replaced with the following: 5. In order to guarantee the completion of the Developer's share of the required street improvements to Stoney Brook Road from station 11 +00 to the western property line, the Developer and the City agree that the Developer, instead of constructing said improvements, shall pay for the future construction of said improvements, including the removal of the existing turnaround. The amount of said payment shall be equal to the estimated cost to remove the interim improvements and construct the ultimate improvements, which estimate shall be prepared by the Developer and approved by the City, plus 25% to cover the cost of construction engineering, surveying and project management. Said amount shall be paid to the City prior to the issuance of any building permit in Phase 3B of the development. Any interest earned by the City as a result of said deposit shall be the property of the City to cover administration and inflation in order to better assist the City in making reimbursement to the party that constructs said improvements. If the Developer is the party that constructs said improvements, upon completion of said improvements and acceptance of them by the City, the City shall return to the Developer the amount deposited plus any interest earned by the City as a result of said deposit, less 3% of the total amount remaining, (which includes said amount deposited plus the interest earned by the City) to be kept by the City to cover its cost for 3 administration of said deposits. D. Subheading II (Special Conditions) Paragraph D.10 shall be replaced with the following: 10. As a part of Phase 3A the Developer is responsible for removing the existing cul-de- sac and extending Bellewood Lane, including the curb, gutter, sidewalk, inlets and stormdrain B 1 and completion of the fill and fine grading adjacent to and across the park property. The City Parks Department shall be responsible for the installation of the final landscaping and irrigation of the park property and the parkway adjacent to the park property. The Developer shall coordinate with the City and if the roadway completion is done at such time as it will be the next season when the Parks Department can install landscaping in this area the Developer shall provide the proper erosion control measures. E. All other terms and conditions of the Development Agreement (as amended by Amendment Agreement No. 1 and Amendment Agreement No. 2) shall remain unchanged and in full force and effect, except as expressly amended in this Amendment Agreement No. 3. IN WITNESS WHEREOF, the parties hereto have executed this agreement the day and year first above written. CITY CLERK C� air Y,� w APPROVED AS TO CONTENT: " `City Engineei THE CITY OFF T COLLINS, COLORADO, a Municipal Corpo ation By:�'--�---�. City Manager 19 APP VED AS TO FORM: Deputy City Attorney DEVELOPER: Provincetowne West, LLC, a Colorado limited liability company By: McWhinney Real Estate Services, Inc., a Colorado corporation, manager By: Douglas ij4il , Chief Operating Officer i ATTEST: j r �.l P1 � l,�l, � ft� I , CC•1i C? �---�F�.�-P ��e�;i ��i C.P� STATE OF COLORADO ) ss. COUNTY OF LARIMER ) The foregoing instrument was acknowledged before me this 31 Sf day of, 2011, by Provincetowne West, LLC by McWhinney Real Estate Services, Inc. manager�by Douglas Hill as Chief Operating Officer and by J4 h4&4 as Chief F4nane}a4 Officer of McWhinney Real Estate Services, Inc. —r"y KcrJk;vtYr-cr Notary Public My Commission Expires: V kh., 3 Q�r'tiOTAR Y �' PUBLIC•; My Comm. Expires June 21, 2013 Provincetowne Green LLLP, a limited liability limited partnership By: CARE Provincetowne GP LLC, a limited liability corporation, general partner By: (' 1 4 Mark Holmes, Executive Director ATTEST: 4 cvii , Secretary jsc�Kelyn Ellis STATE OF COLORADO ) ss. COUNTY OF LARIMER ) The foregoing instrument was acknowledged before me this a�-`i day oet4e jj,4k , 2011, by Provincetowne Green LLLP by Community Affordable Residences Enterprises, nc., general partner by Mark Homes as Executive Director and by Kevin Dag as Secretary of Community Resources Residence Enterprises, Inc. My Commission Expires: % ' 7-�' X64 t Public loZ `£Z Am saaidx2l uoissiwwoo dw Jt�LtE Lt7R:�®fV GC]VHOIOC �(� 3,1H1S NOTARY PUBLIC STATE OF COLORADO oneend AJb1ON P,�ty onrrissiun Expires July 23, 2ot2 NOSU01 3nnr Trilby 6608,/4LC, a Cglotado lir d liability company 11 STATE OF COLORADO ) ss. COUNTY OF LARIMER ) The foregoing instrument was acknowledged before me this �Ci�h day of 2011, by Dan Eckles as Member/ Manager of Trilby 6608, LLC. Notary Public My Commission Expires: 01- a2__ _ TMiMM J. IAU NOTARY PUBLIC 8TA OF COLORADo Gomm. Exp. 7-252M4 7