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HomeMy WebLinkAbout1997-012-02/04/1997-EMO OAKEY REGENCY DRIVE REIMBURSEMENT AGREEMENT SENECA STREET WAKEROBIN LANE WATER LINE RESOLUTION 97-12 OF THE COUNCIL OF THE CITY OF FORT COLLINS APPROVING A REIMBURSEMENT AGREEMENT WITH THEODORE OAKEY, MARTIN C. EMO AND MICHAEL C. EMO FOR PARTIAL REIMBURSEMENT OF THE COSTS FOR A WATER LINE INSTALLED IN WAKEROBIN LANE, REGENCY DRIVE AND SENECA STREET WHEREAS, on May 16, 1996, the City of Fort Collins ("the City") was served with two Writs of Garnishments in Theodore Oakey, et al. v. Robert Peterson, et al., Case No. 94 CV 336, filed in Larimer County District Court ("the Garnishment Action"); and WHEREAS, in the Garnishment Action the Plaintiff Judgment Creditors, Theodore Oakey, Martin C. Emo and Michael C. Emo ("the Judgment Creditors") served the City with the Writs of Garnishment seeking to garnish from the City any monies it owed to Robert Peterson, one of the the Judgment Debtors in the Garnishment Action, ("the Judgment Debtor"); and WHEREAS,the City has previously entered into the following development agreements with the Judgment Debtor: (1) the Villages at Harmony West P.U.D. Development Agreement, dated August 31, 1983; (2)the Belaire P.U.D. Amendment Agreement No. 1, dated March 18, 1985; (3) the Pineview P.U.D. Phase I Development Agreement, dated June 23, 1983; and (4) the Pineview P.U.D.Phase 11 Development Agreement,dated August 31, 1983,("the Development Agreements"); and WHEREAS, under the Development Agreements the City had agreed to pay the Judgment Debtor, in accordance with the City Code, for oversizing costs associated with certain water and sewer line improvements and street improvements; and WHEREAS,the Development Agreements also provided that pursuant to the City Code the Judgment Debtor, as a developer, may be entitled to certain reimbursements for costs of installing water or sewer lines or streets through undeveloped areas of the City by submitting an application to the City for the City to enter into reimbursement agreements with the Judgment Debtor that would entitle the Judgment Debtor to reimbursement for a portion of the construction costs of such improvements whenever any adjacent property owner benefits from such improvements by beginning to use them; and WHEREAS, the Judgment Creditors have claimed in the Garnishment Action that they, as past partners of the Judgment Debtor, are entitled to enter into the said reimbursement agreements with the City as a result of the installation of certain water and sewer lines and streets through undeveloped areas of the City as contemplated in the Development Agreements; and WHEREAS, in settlement of the Garnishment Action, the City and the Judgment Creditors entered into a Stipulation dated December 9, 1996 ("the Stipulation"), pursuant to which the parties settled the Judgment Creditor's claims to garnish the oversizing payments due to the Judgment Debtor from the City under the Development Agreements for the oversizing of certain water and sewer lines and street improvements; and WHEREAS,the City and the Judgment Creditors further agreed in the Stipulation that they would enter into reimbursement agreements as contemplated in the Development Agreements,which reimbursement agreements would entitle the Judgment Creditors to receive reimbursement for a portion of their costs to install water and sewer lines and streets through undeveloped areas of the City as adjacent properties were developed and benefited by such improvements;provided,however, that such reimbursement agreements would be expressly contingent upon the Fort Collins City Council approving such agreements by resolution on or before February 4, 1997; and WHEREAS, one such reimbursement agreement is attached hereto as Exhibit "A", incorporated herein by this reference, and concerns reimbursement for the construction of the 12" water line that starts at Wakerobin Lane at the west property line of the Pineview Subdivision,then west on Wakerobin Lane to Regency Drive,then north in Regency Drive to Seneca Street,then south in Seneca Street and ending at a connection to an existing water line in Horsetooth Road ("the Reimbursement Agreement"). NOW, THEREFORE,BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT COLLINS,that the Reimbursement Agreement is hereby approved upon the terms and conditions shown on Exhibit"A". Passed and adopted at a regular meeting of the City Council held this 4th. f February, A.D., 1997. ZVI ?iZI avor Lei ATTEST: City Clerk REIMBURSEMENT AGE F. .MFNT THIS AGREEMENT is made and entered into this 24th day of December, 1996, by and between THE CITY OF FORT COLLINS, COLORADO, a municipal corporation, hereinafter referred to as "the City," and THEODORE OAKEY, MARTIN C. EMO and MICHAEL C. EMO, hereinafter referred to collectively as "the Developer." WITNESSETH : A WHEREAS, Section 26-372 of the Code of the City of Fort Collins permits a developer, after he has installed a water or sewer line through undeveloped areas of the city, to submit an application to the City for a Reimbursement Agreement which would provide that the developer may be reimbursed a portion of the construction cost of the water or sewer line whenever any property specially benefitted by said line first utilizes said line; and WHEREAS, the Developer has submitted an application to the City for a Reimbursement Agreement as a result of the construction of a 12-inch water line ("the Improvement") at the following described location: Starting in Wakerobin Lane at the west property line of the Pineview Subdivision, then west in Wakerobin Lane to Regency Drive, then north in Regency Drive to Seneca Street, then north in Seneca Street and ending at a connection to an existing water line in Horsetooth Road. The Improvement is further described on Exhibit "A" attached hereto and incorporated herein by this reference; and WHEREAS, the Developer has provided the City with the legal descriptions of all properties that in the future may be specially and directly benefitted by the installation of the Improvement, all as set forth on Exhibit "B" attached hereto and incorporated herein by this reference. NOW THEREFORE, it is agreed by and between the parties hereto as follows: 1. That the Improvement installed by the Developer has been inspected and found to be in accordance with the City's standards and requirements. 2. That the Developer has presented the City with adequate documentation to establish that the total cost for the construction of the Improvement is One Hundred Fifty-one Thousand Four Hundred Forty-nine Dollars ($151,449.00). 3. That in the event any of the properties specially and directly benefitted by the installation of the Improvement should commence activities to utilize the Improvement (which properties are described on Exhibit "B" attached hereto), the City shall make at least orattemt to collect a charge from the owners of such properties in order to reimburse the Developer for some of the costs associated with the construction of the Improvement. For purposes of this Agreement, utilization of the Improvement shall be deemed to commence upon receipt by the City of an application for service and collection of the appropriate fee from the Developer. Such charge shall be on a front-foot basis according to the schedule attached hereto and incorporated herein by this reference as Exhibit"C" and a percentage added to recognize the effects of inflation. This inflation factor shall be calculated using the construction cost index for Denver as published in the Engineering News Record (ENR) of May 29 , 19 85 , and the same index published in the ENR of the month preceding payment of the reimbursement. Should any property anticipated herein to benefit from the installation of the Improvement be developed in such a manner so as to not make direct connection to the Improvement or otherwise directly benefit from the Improvement, there shall be no assessment against that property. Should any property anticipated herein to directly benefit from the Improvement be subdivided into one or more parcels for development purposes, the amount to be assessed shall be based on a pro-rata share of the actual front footage of the property so developed. For purposes of this Agreement, "direct connection/benefit" shall mean physical connection directly to the Improvement immediately adjacent to the developed property and not connection indirectly through some other sewer line or lines at some other point on the system. 4. Upon the actual receipt of the assessment set forth above, the City agrees to pay the same over to the Developer, less three percent (3%) to be retained by the City to defray administrative costs. In no event shall the City be obligated to pay the Developer interest on collected or uncollected fees pursuant to this Agreement. The term of this Agreement shall expire on November 15, 2004. After said date, all the City's obligations under this Agreement shall terminate and the Developer shall not be entitled to any extension of the term of this Agreement. 5. The services of the City in attempting to assess and collect the reimbursement fees described herein are offered solely as an accommodation to the Developer. Accordingly, the City shall not be liable for its failure in any fashion to collect the monies specified herein and shall have no obligation to commence litigation for the purpose of attempting to make such collection. In the event that the City's attempt(s) to collect such charge, including without limitation the City's withholding of building permits, results in the filing of any claim against the City and/or the commencement of litigation against the City, the Developer agrees to pay all costs and fees incurred by the City in defense of the same, including without limitation reasonable attorneys' fees. The Developer further agrees to indemnify and hold harmless the City from any damages or awards arising from or relating to any such claim or litigation. Prior to the City being required to litigate any claim under this Agreement, the City may require the Developer to pay to the City cash funds or provide to the City other collateral acceptable to the City sufficient to cover the amount of any damages sought in the litigation as well as a reasonable amount to cover the City's anticipated costs and attorneys' fees in the litigation or, if damages are not sought in the lawsuit, then in such amount as the City may consider reasonably necessary to ensure payment of all the City's costs and attorneys' fees which may result therefrom. Notwithstanding the foregoing, the - 2of4 - City shall not commence any litigation to collect any charge under this Agreement without the prior written consent of the Developer. 6. In the event that the Developer is in default with regard to any other obligation to the City, the City shall have the right to set off any reimbursements that may be due hereunder to satisfy, in whole or in part, any such default. In the event that a Developer has received reimbursement directly from the owner or developer of any property which may be subject to assessment in accordance with the terms of this Agreement, the Developer shall immediately upon receipt thereof notify the City, in writing, of the amount collected, the name and address of the person from whom collection was made and the property to which the collection is applicable. 7. This Agreement may not be assigned by the Developer to any other party without the prior written consent of the City, which consent shall not be unreasonably withheld. City Code Section 26-372 is incorporated herein by this reference and it shall govern interpretation of the various provisions of this Agreement. 8. This Agreement is hereby made expressly contingent upon the City Council of the City of Fort Collins (hereinafter referred to as "the Council") approving this Agreement by resolution, which resolution must be passed by the Council on or before February 4, 1997. If the Council does not pass such a resolution on or before February 4, 1997, then this Agreement shall be automatically terminated and both parties shall be released from all obligations hereunder. DATED the day and year first above written. THE CITY OF FORT COLLINS, COLORADO, A Municipal Corporation bi)lane Lone , be&f City Manager ATTEST: ity Clerk APPROVED AS TO FORM: Ass Y`ant City Attorney - 3of4 - DEVELOPER: Theodore Oakey Mart(n t.CMo--U Michael C. Emo 4 of 4 - EXHIBIT A I i i i i II i N I I I 1 1 I I OWNER: P do H PARTNERSHIP \ l PARCEL NO.: 97344-00-016 I \' _N I / / / / 11 / / / / II y h GJ / Cr \\ `� _.-----------72" 1 / EXHIBIT A J -----------------------------------r--------s--------s----------------------- NORSETOOTH ROAD I II nd I 1 I 1 fH j 1 I 1 II 0 1 1 1 m 1 n 1 1 OWNER: PROGRESSIVE I S LIVING STRUCTURES 1 1 PARCEL NO.: 97341-07-009 1 1 OWNER: PROGRESSIVE -- LIVING STRUCTURES \'. I PARCEL NO.: 97341-07-008 i 1 , 1 1 , , 1, OWNER: MIRAMONT ASSOCIATES \ 22h��iii PARCEL NO.: 97341-00-008 1 , I i I 1 1 1 \ i 1 i , OWNER: CITY OF FORT COLLINS ` , PARCEL NO.: 97341-00-917 \.\ , 1 , EXHIBIT B to Reimbursement Agreement for 12-inch Water Line Ref .#1 Current Owner: P & B Partnership, a Colorado partnership Parcel #97344-00-016 CONSIDERING THE NORTH LINE OF THE SOUTHEAST QUARTER OF SECTION 34 AS BEARING S 89054' 31" E, AND WITH ALL BEARINGS CONTAINED HEREIN RELATIVE THERETO; COMMENCING AT THE CENTER ONE-QUARTER CORNER OF SAID SECTION 34 AND CONTINUING ALONG THE NORTH LINE OF SAID SOUTHEAST QUARTER S 89054' 31" E 952 .33 FEET TO THE TRUE POINT OF BEGINNING; THENCE CONTINUING ALONG SAID LINE S 89054131" E 477 . 54 FEET; THENCE ALONG THE WESTERLY LINE OF THE PLEASANT VALLEY AND LAKE CANAL THE FOLLOWING FIVE COURSES : S 15047154" E 129 . 93 FEET; S 06020' 31" W 145 . 84 FEET; S 27023131" W 92 . 78 FEET; S O1014 ' 24" E 61 . 72 FEET; S 39031' 04" E 90 . 77 FEET; THENCE LEAVING SAID LINE AND RUNNING S 20014108" W 223 . 54 FEET; THENCE S 00005' 29" W 140 . 78 FEET; THENCE S 20023 ' 19" E 51 . 87 FEET; THENCE S 37023109" E 51 . 64 FEET; THENCE S 52036 ' 51" W 194 . 00 FEET; THENCE S 37023 ' 09" E 40 . 92 FEET; THENCE S 52036' 51" W 120 . 50 FEET; THENCE N 37023 ' 09" W 134 . 55 FEET; THENCE N 18050117" W 146 . 45 FEET; THENCE N 84043 ' 30" W 249 . 27 FEET TO A POINT ON THE EASTERLY RIGHT-OF-WAY LINE OF SENECA STREET; THENCE ALONG SAID LINE 646 . 17 FEET ALONG THE ARC OF A CURVE TO THE LEFT, HAVING A RADIUS OF 1784 . 00 FEET, A CENTRAL ANGLE OF 20045' 10" AND A LONG CHORD WHICH BEARS N 10028104" E 642 . 65 FEET; THENCE N 00°05' 29" E 248 . 10 FEET, MORE OR LESS, TO THE POINT OF BEGINNING, CONTAINING 11 .47 ACRES, MORE OR LESS . Ref.#2 Current Owner: The City of Fort Collins, a municipal corporation Parcel #97341-00-917 THAT PORTION OF THE SOUTHWEST QUARTER OF THE NORTHEAST QUARTER OF SECTION 34 , TOWNSHIP 7 NORTH, RANGE 69 WEST OF THE 6TH PRINCIPAL MERIDIAN, LARIMER COUNTY, COLORADO, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS : CONSIDERING THE NORTH-SOUTH CENTERLINE OF SAID SECTION 34 AS BEARING NORTH 00001' 05" WEST AND WITH ALL BEARINGS CONTAINED HEREIN RELATIVE THERETO: BEGINNING AT THE CENTER QUARTER CORNER OF SAID SECTION 34; THENCE ALONG THE NORTH-SOUTH CENTERLINE OF SAID SECTION 34 NORTH 00001' 05" WEST 741 . 56 FEET TO A POINT ON THE SOUTHERLY RIGHT-OF-WAY OF PROPOSED WESTFIELD DRIVE, SAID POINT BEING ON A CURVE CONCAVE TO THE NORTHWEST HAVING A CENTRAL ANGLE OF 18013 ' 15" A RADIUS OF 430 . 00 FEET, THE LONG CHORD OF WHICH BEARS NORTH 80052 ' 18" EAST 136 . 17 FEET; THENCE NORTHEASTERLY ALONG THE ARC OF SAID CURVE AND ALONG SAID PROPOSED RIGHT-OF-WAY 136 . 75 FEET; THENCE TANGENT FROM SAID CURVE AND CONTINUING ALONG SAID PROPOSED RIGHT-OF-WAY NORTH 71045 ' 40" EAST 156 . 61 FEET TO THE BEGINNING OF A TANGENT CURVE CONCAVE TO THE SOUTH HAVING A CENTRAL ANGLE OF 23014 ' 20" A RADIUS OF 570 . 00 FEET, THE LONG CHORD OF WHICH BEARS NORTH 83022' 50" EAST 229 . 60 FEET; THENCE EASTERLY ALONG THE ARC OF SAID CURVE AND ALONG SAID PROPOSED RIGHT-OF-WAY 231 . 19 FEET; THENCE TANGENT FROM SAID CURVE AND CONTINUING ALONG SAID PROPOSED RIGHT-OF-WAY SOUTH 85000 ' 00" EAST 201 . 00 FEET TO THE BEGINNING OF A TANGENT CURVE CONCAVE TO THE SOUTHWEST HAVING A CENTRAL ANGLE OF 90000' 00" A RADIUS OF 15 . 00 FEET, THE LONG CHORD OF WHICH BEARS SOUTH 40000' 00" EAST 21 . 21 FEET; THENCE SOUTHEASTERLY ALONG THE ARC OF SAID CURVE AND ALONG SAID PROPOSED RIGHT-OF-WAY 23 . 56 FEET TO THE WESTERLY RIGHT-OF-WAY OF PROPOSED SENECA STREET, THENCE TANGENT FROM SAID CURVE AND ALONG SAID PROPOSED RIGHT-OF-WAY SOUTH 05000' 00" WEST 60 . 00 FEET TO THE BEGINNING OF A TANGENT CURVE CONCAVE TO THE EAST HAVING A CENTRAL ANGLE OF 24000' 00" A RADIUS OF 644 . 00 FEET, THE LONG CHORD OF WHICH BEARS SOUTH 07000 ' 00" EAST 267 . 79 FEET; THENCE SOUTHERLY ALONG THE ARC OF SAID CURVE AND CONTINUING ALONG SAID PROPOSED RIGHT-OF-WAY 269 . 76 FEET; THENCE TANGENT FROM SAID CURVE AND CONTINUING ALONG SAID PROPOSED RIGHT-OF-WAY SOUTH 19000' 00" EAST 309 . 12 FEET TO THE BEGINNING OF A TANGENT CURVE CONCAVE TO THE SOUTHWEST HAVING A CENTRAL ANGLE OF 19005' 29" A RADIUS OF 576 . 00, THE LONG CHORD OF WHICH BEARS SOUTH 09027' 16" EAST 191 . 04 FEET; THENCE SOUTHEASTERLY ALONG THE ARC OF SAID CURVE AND CONTINUING ALONG SAID PROPOSED RIGHT-OF-WAY 191 . 93 FEET TO THE SOUTH LINE OF THE NORTHEAST QUARTER OF SAID SECTION 34 ; THENCE ALONG SAID LINE NORTH 89054 ' 31" WEST 884 . 33 FEET TO THE POINT OF BEGINNING, COUNTY OF LARIMER, STATE OF COLORADO. Ref .#3 Current Owner: Miramont Associates Limited Liability Company, a Colorado limited liability company Parcel #97341-00-008 THAT PORTION OF THE SOUTHWEST QUARTER OF THE NORTHEAST QUARTER OF SECTION 34, TOWNSHIP 7 NORTH, RANGE 69 WEST OF THE 6TH PRINCIPAL MERIDIAN, LARIMER COUNTY, COLORADO, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS : CONSIDERING THE NORTH-SOUTH CENTERLINE OF SAID SECTION 34 AS BEARING NORTH 00001' 5" WEST AND WITH ALL BEARINGS CONTAINED 2 of 5 HEREIN RELATIVE THERETO; BEGINNING AT THE CENTER QUARTER CORNER OF SAID SECTION 34 , THENCE ALONG THE NORTH-SOUTH CENTERLINE OF SAID SECTION 34 NORTH 00001' 5" WEST 741 . 56 FEET TO A POINT ON THE SOUTHERLY RIGHT-OF-WAY OF PROPOSED WESTFIELD DRIVE, SAID POINT BEING THE TRUE POINT OF BEGINNING, SAID POINT ALSO BEING ON A CURVE CONCAVE TO THE NORTHWEST HAVING A CENTRAL ANGLE OF 18013 ' 15" A RADIUS OF 430 . 00 FEET, THE LONG CHORD OF WHICH BEARS NORTH 80052' 18" EAST 136 . 17 FEET; THENCE NORTHEASTERLY ALONG THE ARC OF SAID CURVE AND ALONG SAID PROPOSED RIGHT-OF-WAY 136 . 75 FEET; THENCE TANGENT FROM SAID CURVE AND CONTINUING ALONG SAID PROPOSED RIGHT-OF-WAY NORTH 71045'40" EAST 156 . 61 FEET TO THE BEGINNING OF A TANGENT CURVE CONCAVE TO THE SOUTH HAVING A CENTRAL ANGLE OF 23014' 20" A RADIUS OF 570 . 00 FEET, THE LONG CHORD OF WHICH BEARS NORTH 83022 ' 50" EAST 229 . 60 FEET; THENCE EASTERLY ALONG THE ARC OF SAID CURVE AND ALONG SAID PROPOSED RIGHT-OF-WAY 231 . 19 FEET; THENCE TANGENT FROM SAID CURVE AND CONTINUING ALONG SAID PROPOSED RIGHT-OF- WAY SOUTH 85000' 00" EAST 201 . 00 FEET TO THE BEGINNING OF A TANGENT CURVE CONCAVE TO THE SOUTHWEST HAVING A CENTRAL ANGLE OF 90000' 00" A RADIUS OF 15 . 00 FEET, THE LONG CHORD OF WHICH BEARS SOUTH 40000' 00" EAST 21 . 21 FEET; THENCE SOUTHEASTERLY ALONG THE ARC OF SAID CURVE AND ALONG SAID PROPOSED RIGHT-OF-WAY 23 . 56 FEET TO THE WESTERLY RIGHT- OF-WAY OF PROPOSED SENECA STREET; THENCE TANGENT FROM SAID CURVE AND ALONG SAID PROPOSED RIGHT-OF-WAY SOUTH 05000' 00" WEST 60 . 00 FEET TO THE BEGINNING OF A TANGENT CURVE CONCAVE TO THE EAST HAVING A CENTRAL ANGLE OF 24000 ' 00" A RADIUS OF 644 . 00 FEET, THE LONG CHORD OF WHICH BEARS SOUTH 07000' 00" EAST 267 . 79 FEET; THENCE SOUTHERLY ALONG THE ARC OF SAID CURVE AND CONTINUING ALONG SAID PROPOSED RIGHT-OF-WAY 269 . 76 FEET; THENCE TANGENT FROM SAID CURVE AND CONTINUING ALONG SAID PROPOSED RIGHT-OF-WAY SOUTH 19000 ' 00" EAST 309 . 12 FEET TO THE BEGINNING OF A TANGENT CURVE CONCAVE TO THE SOUTHWEST HAVING A CENTRAL ANGLE OF 19005' 29" A RADIUS OF 576 . 00 FEET, THE LONG CHORD OF WHICH BEARS SOUTH 09027' 16" EAST 191 . 04 FEET; THENCE SOUTHEASTERLY ALONG THE ARC OF SAID CURVE AND CONTINUING ALONG SAID PROPOSED RIGHT-OF-WAY 191 . 93 FEET TO THE SOUTH LINE OF THE NORTHEAST QUARTER OF SAID SECTION 34 ; THENCE ALONG SAID LINE SOUTH 89054 ' 31" EAST 435 . 76 FEET TO THE EAST LINE OF THE SOUTHWEST QUARTER OF THE NORTHEAST QUARTER OF SAID SECTION 34 ; THENCE ALONG SAID EAST LINE NORTH 00000' 09" WEST 1328 . 72 FEET TO THE NORTH LINE OF THE SOUTHWEST QUARTER OF THE NORTHEAST QUARTER OF SAID SECTION 34 ; THENCE ALONG SAID NORTH LINE NORTH 89048' 45" WEST 1320 .46 FEET TO THE WEST LINE OF THE SOUTHWEST QUARTER OF THE NORTHEAST QUARTER OF SAID SECTION 34 ; THENCE ALONG SAID WEST LINE SOUTH 00001' 05" EAST 589 . 38 FEET TO THE TRUE POINT OF BEGINNING. 3 of 5 Ref .#4 Current Owner: Progressive Living Structures, Inc . , a Colorado corporation Parcel #97341-07-008 A TRACT OF LAND SITUATE IN THE NORTHEAST 1/4 OF SECTION 34, TOWNSHIP 7 NORTH, RANGE 69 WEST OF THE SIXTH P.M. , CITY OF FORT COLLINS, COUNTY OF LARIMER, STATE OF COLORADO, WHICH CONSIDERING THE NORTH LINE OF THE SAID NORTHEAST 1/4 AS BEARING S 890 43 ' E AND WITH ALL BEARINGS CONTAINED HEREIN RELATIVE THERETO IS CONTAINED WITHIN THE BOUNDARY LINES WHICH BEGIN AT A POINT ON A LINE WHICH IS 10 . 00 FEET WESTERLY FROM THE WESTERLY LINE OF THE PLEASANT VALLEY AND LAKE CANAL COMPANY DITCH WHICH BEARS S 890 43 ' E 898 .48 FEET, AND AGAIN S 280 21' E 66 .46 FEET, AND AGAIN S 100 16' 43" E 158 . 85 FEET, AND AGAIN S 330 15' 53" E 127 . 06 FEET, AND AGAIN S O10 35 ' E 173 . 22 FEET, AND AGAIN S 100 56 ' W 26 . 51 FEET, AND AGAIN S 350 13 ' 50" W 32 .23 FEET, AND AGAIN S 540 56' 08" W 126 . 80 FEET, AND AGAIN S 27° 43 ' 12" W 45 . 79 FEET, AND AGAIN S 120 47' 44" E 39 .42 FEET FROM THE NORTH 1/4 CORNER OF SAID SECTION 34 AND RUN THENCE ALONG SAID LINE WHICH IS 10 . 00 FEET WESTERLY FROM THE WESTERLY LINE OF THE PLEASANT VALLEY AND LAKE CANAL COMPANY DITCH S 420 58 ' 26" E 255 . 73 FEET, AND AGAIN S 340 59' 48" E 122 . 24 FEET, AND AGAIN S 190 36 ' 24" E 189 . 75 FEET, AND AGAIN S 090 23 ' 54" W 132 .45 FEET, AND AGAIN S 490 14 ' 20" W 53 . 92 FEET TO A POINT ON THE SOUTH LINE OF THE NORTHWEST 1/4 OF THE NORTHEAST 1/4 OF SAID SECTION 34 ; THENCE N 890 48' 45" W 477 . 01 FEET ALONG THE SAID SOUTH LINE TO A POINT ON THE CENTERLINE OF SENECA STREET; THENCE ALONG SAID CENTERLINE ALONG THE ARC OF A 600 . 00 FOOT RADIUS CURVE TO THE RIGHT A DISTANCE OF 220 . 12 FEET; THE LONG CHORD OF WHICH BEARS N 100 31' 41" W 218 . 89 FEET, AND AGAIN N 000 01' 05" W 178 . 55 FEET, AND AGAIN ALONG THE ARC OF A 600 . 00 FOOT RADIUS CURVE TO THE RIGHT A DISTANCE OF 157 . 08 FEET, THE LONG CHORD OF WHICH BEARS N 070 28' 55" E 156 . 63 FEET, AND AGAIN N 140 58 ' 55" E 84 . 66 FEET; THENCE S 890 52' 08" E 229 . 14 FEET TO THE POINT OF BEGINNING. Ref . #5 Current Owner: Progressive Living Structures, Inc . , a Colorado corporation Parcel #97341-07-009 A TRACT OF LAND SITUATE IN THE NORTHEAST 1/4 OF SECTION 4 of 5 34 , TOWNSHIP 7 NORTH, RANGE 69 WEST OF THE SIXTH P.M. , CITY OF FORT COLLINS, COUNTY OF LARIMER, STATE OF COLORADO, CONSIDERING THE NORTH LINE OF THE SAID NORTHEAST 1/4 AS BEARING S 890 43' E AND WITH ALL BEARINGS CONTAINED HEREIN RELATIVE THERETO IS CONTAINED WITHIN THE BOUNDARY LINES WHICH BEGIN AT A POINT ON THE SAID NORTH LINE WHICH BEARS S 890 43 ' E 209 . 00 FEET FROM THE NORTH 1/4 CORNER OF SAID SECTION 34, AND RUN THENCE S 890 43 ' E 689 .48 FEET ALONG THE SAID NORTH LINE TO A POINT ON A LINE WHICH IS 10 . 00 FEET WESTERLY FROM THE WESTERLY LINE OF THE PLEASANT VALLEY AND LAKE CANAL DITCH; THENCE ALONG SAID LINE S 280 21' E 66 .46 FEET, AND AGAIN S 100 16' 43" E 158 . 85 FEET, AND AGAIN S 33° 15' 53" E 127 . 06 FEET, AND AGAIN S O10 35' E 173 .22 FEET, AND AGAIN S 100 56' W 26 . 51 FEET, AND AGAIN S 35° 13 ' 50" W 32 . 23 FEET, AND AGAIN S 540 56' 08" W 126 . 80 FEET, AND AGAIN S 270 43 ' 12" W 45 . 79 FEET, AND AGAIN S 120 47' 44" E 39 .42 FEET; THENCE N 890 52' 08" W 229 . 14 FEET TO A POINT ON THE CENTERLINE OF SENECA STREET; THENCE ALONG SAID CENTERLINE S 140 58' 55" W 84 . 66 FEET, AND AGAIN ALONG THE ARC OF A 600 . 00 FOOT RADIUS CURVE TO THE LEFT A DISTANCE OF 157 . 08 FEET, THE LONG CHORD OF WHICH BEARS S 070 28 ' 55" W 156 . 63 FEET, AND AGAIN S 000 01' 05" E 178 . 55 FEET, AND AGAIN ALONG THE ARC OF A 600 . 00 FOOT RADIUS CURVE TO THE LEFT A DISTANCE OF 220 . 12 FEET, THE LONG CHORD OF WHICH BEARS S 100 31' 41" E 218 . 89 FEET TO A POINT ON THE SOUTH LINE OF THE NORTHWEST 1/4 OF THE SAID NORTHEAST 1/4 ; THENCE N 890 48 ' 45" W 661 . 09 FEET TO THE SOUTHWEST CORNER OF THE NORTHWEST 1/4 OF THE SAID NORTHEAST 1/4 ; THENCE N 000 01' 05" W 1091 . 95 FEET ALONG THE WEST LINE OF THE SAID NORTHEAST 1/4 ; THENCE S 890 43 ' E 209 . 00 FEET; THENCE N 000 01' 05" W 239 . 00 FEET TO THE POINT OF BEGINNING. 5 of 5 EXHIBIT C to Reimbursement Agreement for 12-inch Water Line TOTAL COST = $151, 449 - Oversizing $37 , 344 = $114 , 105 Reimbursement $114 , 105/11 , 792 if = $9 . 6765 per front foot TOTAL FRONTAGE Front- Ref .# Parcel# Footage Repay 1 97344-00-016 894 .27' $ 8 , 653 . 40 2 97341-00-917 830 . 81, $ 8 , 039 . 33 3 97341-00-008 1, 879 . 19' $ 18 , 183 . 98 4 97341-07-008 640 . 41' $ 6, 196 . 93 5 97341-07-009 2 , 178 .41� $ 21, 079 . 38 The percentage added to recognize the effects of inflation will be based on the Denver construction cost index published in the "Engineering News-Record" and the following formula : (ENR) Denver construction cost published in the month before payment = X (ENR) Denver cost index published X - = Y (Y/X) x (100) = Percentage to be added Payee -