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SHIELDS ST., HOME STATE BANK - FDP - 8-05A - SUBMITTAL DOCUMENTS - ROUND 1 - LEGAL DOCUMENTS1� EXHIBIT D TO CROSS -ACCESS EASEMENT AGREEMENT Ley — ,al LGSl.l1j1 L1U11 O11y1Ar11liJV11 JViiiu 1"l020ily THAT PORTION OF TRACT F, RAINTREE, A PLANNED UNIT DEVELOPMENT, ACCORDING TO THE RECORDED PLAT THEREOF, CITY OF FORT COLLINS, COUNTY OF LARMER, STATE OF COLORADO, LYING IMMEDIATELY WEST OF AND ADJACENT TO, AND LYING IMMEDIATELY SOUTH OF AND ADJACENT TO THE FOLLOWING DESCRIBED TRACT OF LAND: CONSIDERING THE EAST LINE OF THE SOUTHEAST QUARTER OF SECTION 22, TOWNSHIP 7 NORTH, RANGE 69 WEST OF THE SIXTH PRINCIPAL MERIDIAN, AS BEARING NORTH 00 DEGREES 23 MINUTES WEST AND WITH ALL BEARINGS CONTAINED HEREIN RELATIVE THERETO, BEGINNING AT A POINT ON THE WESTERLY LINE OF COUNTY ROAD WHICH BEARS NORTH 00 DEGREES 23 MINUTES WEST 1244.72 FEET M40 AGAIN SOUTH 89 DEGREES 37 MINUTES WEST 30.0 FEET FROM THE SOUTHEAST CORNER OF SAID SECTION 22; THENCE SOUTH 89 DEGREES 37 MINUTES WEST 208.27 FEET THENCE SOUTH 00 DEGREES 23 MINUTES EAST 197.00 FEET; THENCE NORTH 89 DEGREES 37 MINUTES EAST 208.27 FEET TO A POINT ON THE WESTERLY LINE OF COUNTY ROAD; THENCE ALONG THE WESTERLY LINE OF COUNTY ROAD NORTH 00 DEGREES 23 MINUTES WEST 197.0 FEET TO THE POINT OF BEGINNING; LESS THAT PROPERTY CONVEYED TO THE CITY OF FORT COLLINS FOR ROADWAY IN BOOK 1696 AT PAGE 540, COUNTY OF LARIMER, STATE OF COLORADO. EXCEPT THAT PORTION AS PREVIOUSLY CONVEYED TO THE CITY OF FORT COLLINS INDEED RECORDED SEPTEMBER 8, 1992 AT RECEIPTION NO. 92055176, LARIMER COUNTY RECORDS. AND EXCEPT ANY AND ALL OF THAT PORTION OF TRACT F, RAINTREE, PLANNED UNIT DEVELOPMENT WHICH LIES NORTH 0� THE NORTH LINE, EXTENDED WEST, OF THE FOREGOING METES AND BOUNDS LEGAJ. DESCRIPTION. RSGMoJu Invests nu. LLC\Lmn r Magnuson Cress Access Emement AgnGuss Access Easement Agt 0223U`-.pd( v iY�a vsu3Rf'1 PfCQ�f';'^J 9� Pfapexi� IJaf4f� �+vdcvy E%RIING SENIOR CEMEII I.VS.WGIOiJ Fs611NG UGErt KK '_ — — _ xtmrmG EISENEM RSGrM.3. lr stmcnts, LLC\Lmry Magnuson Cross Acccss Eanmcnt Ag(Tross Acccss Ewcmcnt Agt 022305. pdr C-5 '(NOSED SipM • StwF/.'M. OVfA D SiPI iOa DaNF MmiODG' ATM T40UWr ;; is !iTiitl�i PR( �i LLJ11L ._ Bl {tnKruaEs --- rt IIfMOK wst COMOUls, lli. — - f,UST G si•1CNRi 10 H [EMO"F I aONJYDUfyrtY FiSfrnf :Df-- Fz15TNGVOfw,w(ioaDwv+ 1 RAINTREE DRIVE EXHIBIT SCUTHEASI QUARTER OF \ CROSS ACCESS EASEMENT FOR EXHIBIT SEC rION 22, T.7N., R.661Yl. TRACT F OF RAINTREE P.U.D. S89'35'27"E 4.50' S89'35'27'E FOUND ei FOUND }4 1 ORANGE PLASTIC LS 3.62' N00'02'57'W FOUND §4 REBAR W/ YELLOW PLASTIC CAP TST PLS 225G4 r24.00' - I 1 .. ._�. ..cam +nnrn1r/ry I lcVlr ucu. n— — _ I ImIn N IN AYQuoab q�1 I ti~,h1 L) I3 ,C V�Q-'N� pQY� m� IN Io Iz IN Ia Ig �P y� r• �•�I_,y,, q�y 0� I I ---I------� I 10UTILITY---- ' e�.es s"wt EMENT EASEMENT %dv^k.. pmi"" 7 TRA LTF RAINTREE DRIVE 30 15 0 .'.0 1 "= 3 D' NOTE: This exhibit drawing is not intended la be: a moms menled land survey. W., sWc pwpox is as a graphic representation to aid in thr. Asuali lltion of the written properly description which it accompanies. The written property description supercedes the exhibit drawing. a.CL! REG!ST y;• 34995 RING' SMBVZvORS, INC. PROJECT NO:20043618 DATE: 2-23- 05 9299 EASTMAN PARK DRIVE, WINDSOR, CO 80550 CLIENT:NORTHSTAR PHONE: (970) 686-5011 FAX: (970) 686-5821 DWG: 20043,310-EXH WWW.KINGSURVEYORS.COM DRAWN: CSK CHECKED: SAI RSGI\loJo Investments. LLOLarry Magnuson Cons Access Eazemcns AgtkCmss Access Essemens Agl 022305.pdf C-4 PROPERTY DESCRIPTION Cross Access Easement Tract F of Rainlree A portion of Tract F of Raintree, a Planned Unit Development recorded May 29, 1981 as ItcccP61 m No. 413446 of the Records of Lorimer County, located in the Southeast Quarter (SE 1/4) of Seems" Twenty-two (22), Township Seven North (T.7N.), Range Sixty-nine West (R.69W.), Sixth Principal Meridian (6'h P.M.), City of Fort Collins, County of Lorimer, Stat:, or Colorado, more particularly described by metes and bounds as follows: COMDiENCING at the Northeast Comer of said Tract A of the Fort Collins Senior Centcr P.U.D. as recorded September 15, 1993 as Reception No. 93067048, and assuming die East line of said Tract A to bear South 00002'57" East, a grid bearing of the Colorado Slate Plane Coordinate System, North Zone, North American Datum 1983i92, a distance of 286.74 feet with all ohcr bearings herein relative thereto; THENCE South 89035'27" East along the North line of Tract F of Raintrecc a distance ol'4.50 feel to the POINT OF BEGINNING; THENCE South 89035'27" East continuing along the North line of said Tract F a distance of 24.00 feet; THENCE South 00033'22" West a distance of 82.37 feet to the North line of that parcel of land described in a deed recorded Match 31, 2000 as Reception No. 2000020903 of the Records of Larimer County; THENCE South 89046' 11" West along the North line of said parcel described in Reception No. 2000020903 a distance of 22.78 feet to the West line of said parcel described in Reception No. 2000020903; THENCE South 00002'57" East along the West line of said parcel a distance of 175.03 feet; THENCE North 89041'57" West a distance of 4.85 feet to the East line of said Tract A: THENCE North 00002'57" West along the East line of said Tract A a distance of 24.00 leer. THENCE South 89041'57" East a distance of 3.62 feet; TIIENCE North 00002'57" West a distance of 151.01 reef to the North lino of said parcel described in Reception No. 2000020903; . THENCE North 00033'22" East a distance of 82.64 feet to the North lute of said 'tract F and the POINT OF BEGINNING. Said parcel of land contains 2,281 sq. ft. or 0.052 acre, more or less (f), and is subject to any rights -of -way or other easements of record or as now existing on said descl ibcd parcel of land. SURVEYOR'S CERTIFICATE 1, Steven A. Lund, a Colorado Registered Professional Land Surveyor do h=by state that this Property Description wa under my personal supervision and checking, and that it is true and correct to the be tnfi {fA1, c and belief. S �-9D Steven A. Lund — <lallff�off KKiiar veyors, Inc. Colorado Registere Sg i ,� Land Surveyor #34095 LUNG SURVEYORS, INC. 9299 Eastman Park Drive Windsor, Colorado 80550 (970)686-5011 W100436I ka-egal& Closum\S00061a CRUSs ACCESS .#lace Rage l nrl RSGWo3u Imauscsns, UALa Magnuson Cros: Access Euemens Ags\Cross Access Essemem Alit 022305,11 C-3 97 CROSS ACCESS EASEMENT FOR j RECEPTION NO. 2000020903 �7 SOUTHC.AST QUARTER OF X IBIT SECTION 22, T_7N., R.69W. ,. ci• o,�rnrrr ro P�� Q JOA6 �94` tAmt"A'w) 9P FOUND {4 REBAR ---------L------ •BENT ID' UTILITY aon ac ss^r EASEMENT FOUND g4 REBAR ORANGE PLASTIC CAP LS 5028 g n�, O I .oD i�1 eg�•1ryeM�L L� in .4 3 v zw r IN 9 3 0 0 o �= N I� D zz I I I � 30 15 0 :0 1 "= 30' I FOUND #4 REBAR W/ YELLOW PLASTIC CAP TST PLS 22564 22. 7RA/TF RAINTREE DRIVE NOTE: This exhibit drawing is not intended to be a monumented land survey. We sate purpose is as a graphic representation to aid in the visualization of the written properly desrrip Lars which It accompanies. The written properly description superr:edes'the exhibit drnning. �— �0 RFC1.4 a' 34995 RING SUR!'EYORS, INC. PROJECT N0:2004361 H 9299 EASTMAN PARK DRIVE, WINDSOR. CO 80550 CLIENDATE::NORTHS PHONE: (970) 586-5011 FAX: (970) 686-5821 DWG:: 04361 STAR WW'W.KINGSURVEYORS.COM DWG] N: CS 61 HECK 1 DRAWN: CSh: CHECKED: SfJ. RSG1Molu In%esasrtns, LLCM-rsy Magnuson Cross Access Eazcnocnt AgdCmss Access Easesrcnt Age 022105.pdf C-2 EXHIBIT C v TO CROSS -ACCESS EASEMENT AGREEMENT Easement Description PROPERTY D SCRIPTION Cross Access Easement Metes and Bourrds Parcel Reception No. 2000020903 A portion of that parcel of land conveyed and described in a dead recorded March 31, 2000 ;is Reception No. 2000020903 of the Records of Larimer County, for Cross Access Easement purposes, located in the Southeast Quarter (SEl/4) of Section Twenty-two (22), Township Seven North (T.714.), Range Sixty-nine West (R.69W.), Sixth Principal Meridian (6' P ;M.), City of fort Collins, County of Larimer, State of Colorado, more particularly described as follows: BEGINNING at the Northwest Corner of that parcel of land conveyed and described in a dead recorded March 31, 2000 as Reception No. 2000020903 of the Records of Latimer County and assuming the West line of said parcel to bear South 00002'57" East, a grid hearing of the Colorado - State Plane Coordinate System, North Zone, North American Datum 1983/92., a distance of 197.65 feet with all other bearings herein relative thereto; THENCE North .99'46' 1 1" East along the North line of said parcel a distance of 22.78 feet; THENCE South 00'02'57" East along aline parallel with the West line of said parcel a distance of . 175 24 feet: THENCE North 89041'57" West a distance of 22.78 feet to the West line of said parcel; THENCE North 00e02'57" West along the West line of said parcel a distance of 175.03 fact to Lhc POINT OF BEGINNING. Said parcel of land contains 3,989 sq. R. or 0.092 acre, more or less (±), and is subject to any rights -of -way or other easements of record or as now existing on said described parcel of land. SURVEYOR'S CERTIFICATE 1, Steven A. Lund, a Colorado Registered Professional Land Surveyor do hereby state that this Property Description was prepared under my personal supervision and checking, and that it is true and correct to the besjg.L-ray,lttlowledee and belief. Steven A. Lund Sulvcyors, Inc. Colorado Registere al Land Surveyor #34995 KING SURVEYORS, INC. 9299 Eastman Park Drive Windsor, Colorado 80550 (970) 686-501.1 M:Q0n4361a\Lc94l & ClosurcUN4361n CROSS ACCCSS 42.doc Pegc 1 of t RSG\Nola ri essmesus. LLCM_a Magnuson Cross Access Easement AgPCmss Access Euemeot Agt 022305rdf C-1 EXHIBIT B TO CROSS -ACCESS EASEMENT AGREEMENT Legal Description of Mai nuson rroperly Tract F, Raintree, a Planned Unit Development, according to the recorded plat thereof, City of Fort Collins, County ofLarimer, State of Colorado, except that portion as previously conveyed to the City of Fort Collins in Deed recorded September S, 1992 at Reception No. 92055176, and that certain Dedication recorded July 6, 2001 it Reception No. 2001055119, County of Larimer, State of Colorado. RNGIM.JJ L,.ennnn¢. LLC, ar y Flingnuson Crov Aacss Euemasn Agr.Cross Aeccss E.e m Ag, 012305.pdf t � \� EXHIBIT A TO CROSS -ACCESS EASEMENT AGREEMENT Le ai i�escriniiun ui Dauic FiouciiY CONSIDERING THE EAST LINE OF THE SOUTHEAST QUARTER OF SECTION 22, TOWNSHIP 7 NORTH, RANGE 69 WEST OF THE SIXTH PRINCIPAL MERIDIAN, AS BEARING NORTH 00 DEGREES 23 MINUTES WEST AND WITH ALL BEARINGS CONTAINED HEREIN RELATIVE THERETO, BEGINNING AT A POINT ON THE WESTERLY LINE OF COUNTY ROAD WHICH BEARS NORTH 00 DEGREES 23 MINUTES WEST 1244.72 FEET AND AGAIN SOUTH 89 DEGREES 37 MINUTES WEST 30.0 FEET FROM THE SOUTHEAST CORNER OF SAID SECTION 22; THENCE SOUTH 89 DEGREES 37 MINUTES WEST 208.27 FEET; THENCE SOUTH 00 DEGREES 23 MINUTES EAST 197.00 FEET; THENCE NORTH 89 DEGREES 37 MINUTES FAST 208.27 FEET TO A POINT ON THE WESTERLY LINE OF COUNTY ROAD; THENCE ALONG THE WESTERLY LINE OF COUNTY ROAD NORTH 00 DEGREES 23 MINUTES WEST 197.0 FEET TO THE POINT OF BEGINNING; LESS THAT PROPERTY CONVEYED TO THE CITY OF FORT COLLINS FOR ROADWAY IN BOOK 1686 AT PAGE 540, COUNTY OF LARIMER, STATE OF COLORADO. RSC�.%IOJo Imaunems. LLCL i M.poson Cross Access Lssancns AgKress Access 8sscmcrrt Ap 02]]05. Nf N LENDER RATIFICATION First National Bank, as the beneficiary under a Deed of Trust recorded against the Magnuson Property, consents to and ratifies the foregoing Cross -Access Easement Agreement. Date: 2 / 2 3 /C2 J First National Bank r By: / 1�e STATE OF COLORADO ) ss. COUNTY OF LARIMER ) Acknowledged before me this a3 day of 2005, by as C) ee��s:��•� of First Nations Bank. Witness my hand and official seal. My commission expires:— CMC) CE e f Notary Public F:`WFCRSGW0J0 Inve ==M, LLOLarry Magnuson Cross Access Easement Agt,Cmss Access Ea ..t Agt 022305.doc E Home State Bank, a state banking corporation By: �,c. Date: G STATE OF COLORADO ) ss. COUNTY OF LARIMER ) Magnuson Holdings, LLC, a Colorado limited liability company Date: February 23 2005 /J Acknowledged before me this day ofbruary 2005 by %-?J .� of Home State Bank, a state banking corporation. Witness my hand and official seal. My commission expires: - — -- - Notary Public AMY L. ZSCHEILE STATE OF COLORADO NOTARY PUBLIC ss. STATE OF COLORADO COUNTY OF LARIMER ) My Commission Expires Sept. 17,2008 Acknowledged before me this 23`d day of February, 2005, by Larry R. Magnuson as Manager of Magnuson Holdings, LLC, a Colorado limited liability company. Witness my hand and official seal. S- My commission expires: d 7� 7 Notary Pubiic ^� ;cj •PUBLIC P:\R'PCIRSG%MoJo Incestaxnts. LLC\Lany Magnuson Cross Access Easement .Agt\Cross Access Easement Agt 022305doc I 17. Effective Date. This Agreement shall be binding upon all the parties immediately upon its execution. However, if the Contingency is not satisfied as described in Section 3 above, by June 1, 2008, this Agreement shall automatically terminate as of said date. 18. Authority. Each of the parties represents and warrants to the other that it has the regLllS1LG PUWG1 G11V UUMV11Ly LU G11L01 111LU Ll"O Asa GGlu�.iu luau LV P�LIVaua "Al u1 1w vvubu.w.•s hereunder in accordance with the terms set forth in this Agreement; and that all action necessary to make this Agreement binding upon such party has been completed, and that this Agreement constitutes a valid, legal, binding and enforceable obligation of such party. 19. Cooperation. Each party agrees to execute and deliver such additional instrument or instruments as the other party may from time to time request in order to effectuate the terms and conditions of this Agreement. 20. .Recording. This Agreement shall be recorded with the Clerk and Recorder of Larimer County, Colorado. 21. Time of the Essence. Time shall be of the essence for the performance of all of the terms and conditions of this Agreement. In the event that either party shall fail or refuse to perform according to the terms and conditions of this Agreement, it may be declared to be in default hereof. IN WITNESS WHEREOF, the parties hereto have signed this Agreement on the dates shown by their respective signatures. [Signature pages folio w.] 7 R benefits and burdens of this Agreement shall run with the lands described herein and shall be binding upon all future owners and users thereof. 9. . Default. In the event of default of any of the terms and conditions of this Agreement (other than as described in paragraph 5 above), then following 10 days notice to the 17 vAuL:.Ya.a.. .,_ --A—f .♦;. ,d +I,- d:n1,+ 4�uauaiaaa6 aay, ua�u....r, ,., uu..u,.b- ��mmPn rP �i4ioafi�n and/or arbitration at its discretion against the defaulting party and seek all legal and/or equitable remedies, including, but not limited to specific performance against the defaulting party, together with damages. 10. Attorneys' Fees Upon Default. In any arbitration or litigation brought to enforce this Agreement, the prevailing party shall be entitled to judgment against the non -prevailing party for all reasonable expenses of such arbitration/litigation, including, but not limited to, court costs; deposition and other discovery expenses; expert witness fees; witness fees; reasonable attorneys' fees; and such other expenses related to the arbitration/litigation as the arbitrator/Court may award. . 11. Colorado Law. This Agreement shall be interpreted and enforced in accordance with the laws of the State of Colorado, and venue shall be proper with the District Court of Larimer County, Colorado. By execution of this Agreement, the parties waive their right to a trial by jury. 12. Counterparts. This Agreement may be executed with counterpart signature pages, all of which together shall constitute a single recordable agreement binding on both parties. 13. Notice. Notice hereunder shall be deemed to be given when mailed by United States mail, postage pre -paid, to the parties, as follows: Home State Bank 303 East Mountain Avenue_ Fort Collins, CO 80524 Magnuson Holdings, LLC 2236 Hiawatha Court Fort Collins, CO 80525 14. Severability. The validity and forceability in any particular circumstance of any term or provision under this Agreement shall in no way effect any other term or provision hereof, but the remaining terms shall remain in full force and effect. 15. Survival. The provisions of Section 2(H) (Indemnity) shall survive termination of this Agreement. 16. Entire Agreement. . This Agreement shall constitute the entire Agreement between the parties and any prior understandings or representations of any kind preceding the date of this Agreement. Any modification of this Agreement or additional obligation assumed by any party in connection with this Agreement shall be binding only if evidenced in writing and signed by each party or an authorized representative of each party. 2 Contingency is not satisfied by June 1, 2008, this Agreement (specifically including, without limitation, the Easement) shall terminate and the parties shall be released from any further obligations under this Agreement. Furthermore, if the Contingency is not satisfied by June 1, 2008 then either party may record a notice of termination with the Larimer County Clerk and Recorder, in which case this Agreement shall no longer be considered an encumbrance upon, or a-__...•..., rr--* ♦.* 1_ ♦„ 'ate- ♦♦U_ h,f.............« D_,...._.w.. _ tl.o n� 1. D___ .-F.. TAT..♦ V LL1V1 W1JV (111VVL L1L1L. LV, L.1L11V1 LLLN 1I14�,L1UJV11 I IVP/ LLy V1 L11V LC .l 11VrIVL L''. 1.VL YI LLILJ 1La6 the foregoing, the parties shall be entitled to waive, in writing, the Contingency and require specific performance of this Agreement despite the Contingency not being satisfied. 4. Conveyance. A small strip of the Magnuson Property lies immediately west of and adjacent to the Bank Property as well as lying immediately south of and adjacent to the Bank Property (the "Magnuson South Property"). The Magnuson South Property is legally described on Exhibit D, attached hereto and incorporated herein by reference. Concurrently with the execution of this Agreement, Magnuson will convey the Magnuson South Property to MoJo Investments, LLC, a Colorado limited liability company ("MoJo") by quit claim deed for no additional consideration, and MoJo will immediately convey the Magnuson South Property to the Bank. The conveyance will be a Non -Regulated Land Transfer under Section 1.4.7 of the City of Fort Collins Land Use Code. Property taxes will not be prorated, and Magnuson will not provide MoJo or the Bank with a title insurance policy for the Magnuson South Property. The conveyance shall not be affected by any subsequent termination of this Agreement. 5. Arbitration. In the event of any disagreement with respect to whether to make any repair, maintenance or improvement, the parties hereto shall submit the matter to binding arbitration, to be heard by a single arbitrator. If an agreement cannot be reached between the parties hereto for a mutually acceptable single arbitrator, then each party shall select an individual arbitrator, and the two individual arbitrators shall, in turn select a third arbitrator, who shall resolve any of the above described issues. In such instance, the parties agree to be bound by the decision of the single arbitrator so selected, and any decision can be reduced to a Court Order with the District Court of Larimer County, as required. 6. Easement to Run with Land. The grant of the Easement shall run with the lands of the parties hereto, and shall be binding on and shall inure to the benefit of the parties hereto, their respective heirs, successors and assigns, including, without limitation, all subsequent owners of the lands, and all persons claiming under them, their lessees, guests and invitees. The Easement shall be non-exclusive and shall be for the benefit of and appurtenant to the parties' respective properties herein described and shall run with the land and shall inure to the benefit of, and be binding upon, the parties hereto, their respective heirs, successors, and assigns, including, without limitation, all subsequent owners of the lands, and all persons claiming under them, their lessees, guests and invitees. 7. Duration. The Easement rights granted herein shall endure until (a) this Agreement ,is terminated because the Contingency referenced in Section 3 above has not been satisfied by June 1, 2008, (b) this Agreement is terminated by mutual written agreement of the parties, or (c) the parties mutually abandon the Easement. 8. Binding Effect. The Easement rights granted herein shall inure to the benefit of, and be binding upon, the parties and their respective grantees, successors and assigns. The 5 employees, agents or invitees. The Bank grants to Magnuson a perpetual, non-exclusive easement for the limited purpose of maintaining, repairing and replacing the Sign. G. Neglect by a Party. If either party neglects to timely perform any work described in subsections 2(B), (D), (E) or (F) above, the other party shall have the right, but no obligation whatever. following 10 days Drior notice to the neglecting Darty. to cause such. work to be performed in a proper manner. In such event, the other party shall promptly reimburse the party which caused such work to be performed for all reasonable costs of such work. Any reimbursement not paid within thirty days after presentation of a bill and invoices supporting such bill shall accrue interest at the rate of fifteen percent (15%) per annum, commencing on the 31st day following such billing, and the delinquent party shall be liable for all costs of collection, including reasonable attorneys fees. H. Indemnity. Except for the parties' specific obligations under the other provisions of this Agreement, each party acknowledges that the other shall have no liability to it, or to their respective users or invitees, at any time resulting from, or arising -out of, the. use of the -Easement, unless caused by gross negligence or intentional act. - Furthermore, Magnuson shall have no liability for the cost of the Improvements, and other improvements built or located on the Bank Property, or any offsite improvements which may be required by the City in connection with the development of the Bank Property. Each party indemnifies the other party against, and agrees to hold it harmless from, any and all damages, injuries, expenses, claims, or other obligations (including, but not limited to, reasonable attorneys fees) asserted by any tenant or invitee using the other party's portion of the Easement. The Bank shall also indemnify Magnuson against, and hold both Magnuson and the Magnuson Property harmless from, any claims, mechanic's liens, damages or expenses arising from the construction of the Magnuson Property Improvements. • Each party shall maintain liability insurance on the portion of the Easement lying on such party's Property, in an amount of at least $1,000,000 with a reputable insurance company and shall provide the other party with proof that such insurance is currently in force, from time to time, upon request. 3. Contingency. The Existing Access across the Senior Center property to the west boundary of the Magnuson Property is allowed pursuant to a Cross -Grant of Easements for Storm Drainage, Access and Parking entered into by the City and Larry R. Magnuson which was recorded with the Clerk and Recorder of Larimer County, Colorado on July 28, 2000 at Reception No. 2000050999 (together with Memorandum to Cross -Grant of Easements for Storm Drainage, Access and Parking recorded on October 3, 2000 at Reception No. 2000068406 referred to as the "City Access Agreement''). The City Access Agreement provides that the access rights granted to Magnuson over the Senior Center property will terminate when (a) the City approves the development plan for the Bank Property, and (b) construction of an access way under such plan providing access to the Magnuson Property has been completed on the Bank Property. Accordingly, when the City approves the. Bank Property development plan and the Bank Property Improvements (as well as the Magnuson Property Improvements other than closure of the Existing Access) have been completed, the Existing Access to the Magnuson Property will be closed. The occurrence of both events in 3(a) and (b) above is referred to as the "Contingency." The Easement will not be necessary until the Contingency is satisfied. If the C! C. Temporary Construction Easement. Magnuson grants the Bank a temporary construction easement (the "Temporary Construction Easement") in, over and across that portion of the Magnuson Property upon which the Magnuson Property Improvements will be located, and such adjacent area as is reasonably necessary for the construction of such Magnuson Property Improvements. The Bank may use the Temporary Construction Easement for all purposes reasonably . associated with the construction and installation of the Magnuson Property Improvements. Access for such construction shall be from the Bank Property to the south or the Senior Center to the west, and not from Evenstar Court to the north. With the exception of the closure of the Existing Access referenced in Section B(4) above, in no event shall the Bank's construction activities relating to the Magnuson Property Improvements or the Bank Property Improvements impair or impede any current access to the Magnuson Property. Any portion of the Magnuson Property (outside of the immediate area of the referenced Improvements) which is disturbed during construction shall be restored by the Bank to its condition prior to such disturbance. This Temporary Construction Easement shall terminate upon the earlier of (1) completion of the Bank's construction of the Magnuson Property Improvements or (2) June 1, 2008. D. Maintenance and Repair. Following the initial construction and installation of the Improvements, each party shall be solely responsible and liable for all costs of maintaining, repairing, inspecting, improving, and replacing such Improvements on that portion of the Easement lying on the Property owned by such party, with the exception that (1) the Bank shall be responsible for any repair or replacement of any Magnuson Property Improvements within one year after completion of such Improvements to the extent such repair or replacement is not necessitated by any act or omission of Magnuson, its agents or invitees, and (2) any party who causes damage to Improvements on the other parry's Property shall be responsible for the cost to repair such damage. E. Snow Removal/Cleaning. Each- party shall be solely responsible and liable for snow removal and cleaning of the Improvements on that portion of the Easement located on such party's Property. F. Signage. Prior to completion of the Bank Property Improvements, the Bank will install at the southwest corner of the Bank Property a directional sign (the "Sign") identifying the Raintree Animal Hospital located on the Magnuson Property. The design and material for the Sign will be as agreed upon by Magnuson and the Bank, provided that the Sign is approved by the City (if necessary) and the Sign shall otherwise comply in all respects with the City Sign Code (for example, the Sign cannot exceed four square feet per face or ten feet in height, and cannot carry a commercial message other than identification). To the extent the Sign is not approved by the City, Magnuson shall be solely responsible for any appeal or variance proceedings. The Bank will pay up to $2,500 toward the cost of the Sign, with Magnuson to be responsible for any Sign cost in excess of $2,500. Magnuson shall be responsible for maintenance, repair and replacement of the Sign, except that the Bank shall be responsible for the cost of any maintenance, repair or replacement caused by any act or omission of the Bank, its 3 !� (1) All parking lot and driveway improvements located within the Easement on the Bank Property including, without limitation, pavement, curb and gutter, landscaping, lighting, striping, signage, barriers and other traffic control devices in accordance with such plans as are approved by the City of Fort Collins, Colorado (the "City"). The foregoing improvements are referred to as the "Bank Property Improvements." (2) All necessary driveway and related improvements both within and outside of the Easement for that portion of the Magnuson Property lying immediately north of the Bank Property so as to provide vehicular access between the two Properties. Those improvements include, without limitation, pavement, curb and gutter, landscaping, lighting, striping, signage, barriers, and other traffic control devices in accordance with such plans as are approved by the City. (3) All storm water discharge and detention improvements (whether located on the Magnuson Property or elsewhere). necessary to (a) replace those storm water improvements currently serving the Magnuson Property which will be removed when the driveway improvements referenced in Section B(2) above are constructed, and (b) otherwise adequately serve the storm water discharge and detention needs of the Magnuson Property. (4) Magnuson presently has access to the west side of the Magnuson Property through the City of Fort Collins Senior Center ("Senior Center") parking lot north of Raintree Drive. The area where such access joins the west boundary line of the Magnuson Property is depicted on Exhibit C as the "Existing Access." When the Existing Access is terminated under the City Access Agreement (described in Section 3 below), the Bank will be responsible for design, construction and installation of such improvements as may be associated with closure of the Existing Access and blending such closure in with the existing improvements on the Magnuson Property and the Senior Center. The improvements referenced in Sections B(2), (3) and (4) are collectively referred to as the "Magnuson Property Improvements." The Bank shall obtain Magnuson's prior written approval (which shall not be unreasonably withheld) of the design and construction plans for the Magnuson Property Improvements. Furthermore, prior to any closure of the Existing Access to the Magnuson Property, the Bank will (1) cause the City at no cost to Magnuson to grant an access easement to Magnuson (in a form reasonably satisfactory to Magnuson) providing access from Raintree Drive northeasterly across the Senior Center parking lot to the southern part of the Easement, and (2) complete the Bank Property Improvements and those Magnuson Property Improvements referenced in Sections B(2) and (3) above so as to provide access from Raintree Drive north through the Easement to the Magnuson Property. 2 'I'II f I III'IIIII IIII I E7533 LARIMERCOUNTYCORCPTN# 2005-® 1103/04/20 1:30:0005 PAGES - 17 FEE $86.00 DOC $0.00 #441572 CROSS -ACCESS EASEMENT AGREEMENT THIS CROSS -ACCESS EASEMENT AGREEMENT (the "Agreement') is made effective this 23`d day of February, 2005, by and between Home State Bank (`Bank"), a state banking corporation, and Magnuson Holdings, LLC ("Magnuson"), a Colorado limited liability company. WITNESSETH that the parties agree as follows: 1. -Recitals of Fact. A. Bank owns certain real property legally described on Exhibit A attached hereto and incorporated herein by reference (the "Bank Property"). Bank intends to develop said property with commercial buildings to be used for banking purposes. B. Magnuson owns certain real property legally described on Exhibit B attached hereto and incorporated herein by reference (the "Magnuson Property") (The . Bank Property and the Magnuson Property are hereinafter collectively referred to as the "Properties"). The Magnuson Property currently includes a commercial building used as a veterinary clinic and hospital. C. The parties mutually desire to create a joint easement pursuant to the terms of this Agreement for certain mutually beneficial cross -access easement rights. 2. Cross -Access Easement. In consideration of their mutual promises set forth herein, and of the benefits to be obtained by each party from the development of the Bank Property, the receipt and adequacy of which consideration are hereby acknowledged by all parties, the Bank grants and conveys to Magnuson a perpetual, non-exclusive easement over and across that portion .of the Bank Property described and depicted on Exhibit C, attached hereto and incorporated herein by reference, and Magnuson grants and conveys to the Bank a perpetual, non-exclusive easement over that portion of the Magnuson Property described and depicted on Exhibit C (the entire area described and depicted on Exhibit C being referred to as the "Easement'), under the following terms and conditions: A. Purpose. The purpose of the Easement shall be to provide pedestrian and vehicular access to and from the Bank and the Magnuson Properties for use by the parties and their respective tenants and invitees. No party shall at anytime interfere with, block or hinder such access (except in the performance of necessary installation, repair, maintenance, inspection, and replacement work, which work shall be scheduled to minimize the impact on such access, to the extent reasonably feasible). B. Improvements.. The Bank, at its sole cost, will be responsible for the design, construction and installation of the following improvements (collectively referred to as the "Improvements"): After recording, return to: Richard S. Gast, Myatt Brandes & Gast PC 323 S. College Avenue, Suite 1, Fort Collins, CO 80524 DAVID H. JOHNSON MICHAEL D. LIGGETT ERICA. PETERSON Amy K. ROSENBERG KELSEY J. SMITH MAUREEN J. SMITH J. ANDREW TAYLOR ZACHARY G. WILSON Home State Bank Attn: Mr. Steve Fobes 303 E. Mountain Avenue Fort Collins, CO 80524 LIGGETT, SMITH & WILSON, P.C. ATTORNEYS AT LAW 425 WEST MULBERRY STREET, SUITE 112 FORT COLLINS, COLORADO 80521-2896 TELEPHONE (970)482-9770 FACSIMILE (970) 482-0339 April 1, 2005 Re: Home State Bank — MoJo Investments, LLC Dear Steve: Enclosed is a conformed signed copy of the Cross -Access Easement Agreement dated February 23, 2005 and recorded March 4, 2005 at Reception No. 2005-0017533 of the Larimer County Real Property records. As you are aware, I did not attend the closing, but presumably the parties are proceeding in accordance with the terms of the Easement Agreement. Please let me know if anything further is required for this matter at this time. Thank you. Respec , Kel ey J. S 'th KJS/tjb Enclosure