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HomeMy WebLinkAboutRAISING CANE'S - PDP - 6-04 - CORRESPONDENCE - LETTER OF INTENT3. Mr. Demoruelle agrees to provide Mrs. Stevens and her tenant, Enterprise, with additional documentation as requested. Mr. Demoruelle acknowledges that Enterprise obtains access to a back lot on the Stevens Property by a roadway that parallels the retaining wall. Mr. Demoruelle agrees to schedule construction in a manner that does not unreasonable interfere with Enterprises' use of the Stevens Property and access to the back lot parking area. 4. Mr. Demoruelle will prepare at his expense the Temporary Construction Easement after the City of Fort Collins approves the construction project. This letter maybe signed by facsimile signatures and counterparts. Dated: May 7, 2004 Jos a W. Demoruelle Dated: Mayl, 2004 �� -� Esther S. Stevens FA\VPCV1ADemorucIIcUkve1op=nt Rmm\Letter of Intent doc LETTER OF INTENT This Letter of Intent is entered into effective as of the date last signed below, by and between Joshua Demoruelle, and/or assigns, and Esther S. Stevens. : N X" 11111; A. Mr. Demoruelle is under contract to purchase property known as 2104 South College Avenue, Fort Collins, Colorado (the "Demoruelle Property"). Mr. Demoruelle, or a business entity to be formed by Mr. Demoruelle, intends to construct on the Demoruelle Property a drive -through restaurant known as Raising Cane's Chicken Fingers. A proposal to improve the Demoruelle Property is currently in process with the City of Fort Collins, Colorado. The City of Fort Collins is requiring that the parties enter into a Letter of Intent. B. Mrs. Stevens is the owner of the immediately adjoining parcel of land north of the Demoruelle Property known as 2100 South College Avenue, Fort Collins, Colorado (the "Stevens Property"). The Stevens Property is currently rented to and occupied by Enterprise Rent-A-Car ("Enterprise"). C. A cement retaining wall is currently constructed on the Demoruelle Property along the common boundary with the Stevens Property. The retaining wall is in disrepair. Mr. Demoruelle desires to remove the existing retaining wall, and reconstruct a suitable retaining wall. The removal and reconstruction of the retaining wall shall be completed in 2004 in connection with the development of the Demoruelle Property. D. The removal and replacement of this retaining wall will require contractors to enter the Stevens Property from time to time during construction. The retaining wall shall be located on the Demoruelle Property, however. E. Prior to commencing the removal and replacement of the retaining wall, Mr. Demoruelle and Mrs. Stevens will enter into a temporary construction easement (the "Temporary Construction Easement"). The Temporary Construction Easement will be approved and signed by the parties after the City of Fort Collins approves the development project. The Temporary Constriction Easement will terminate when construction is complete. AGREEMENT 1. Mrs. Stevens is aware of the proposed construction project, and has received copies of surveys, engineering documents and other materials as she currently deems necessary. 2. Mrs. Stevens acknowledges that a Temporary Construction Easement granting access to the Stevens Property is necessary to repair and replace the retaining wall. At this time, Mrs. Stevens has no objection to granting a Temporary Constriction Easement, and agrees to proceed in good faith to review and approve the Temporary Construction Easement after the City of Fort Collins approves the constriction project. RAMSEY D. MYATT ROBT. W. BRANDES, JR. RICHARD S. GAST JEFFREY J. JOHNSON DANIEL C. MUFFLY BRIAN R. LEONE JOSHUA B. ZUGISH VP Ripley Associates Inc Attn: Amy Johnson 401 West Mountain Avenue Suite 201 Fort Collins, CO 80524 MYATT BRANDES & GAST PROFESSIONAL CORPORATION ATTORNEYS AND COUNSELORS AT LAW CLOCKTOWER SQUARE 323 SOUTH COLLEGE AVENUE, SUITE 1 FORT COLLINS, COLORADO 80524-2845 May 13, 2004 Re: Letter of Intent Easement — 2100 South College/2104 South College Our File No. 2706-001— Joshua W. Demoruelle Dear Amy: TELEPHONE (970)4824846 FACSIMILE (970)482-3038 E-MAIL: pohnson@verinet.com Enclosed please find one (1) original of the Letter of Intent signed by Josh Demoruelle and Esther Stevens. Should you have any questions or comments, please do not hesitate to contact us. Thank you. Very truly yours, MYATT BRANDES & GAST PC Barbi6b. Keener Legal Assistant to Jeffrey . Johnson /bdk Enclosure cc: Joshua Demoruelle F:\WPCJJADennmefle\Cw\Amy Johnson Itr 5.13-04.doc