HomeMy WebLinkAboutADRIAN SUBDIVISION, 1ST FILING - FDP - 42-03C - LEGAL DOCS - AFFORDABLE HOUSING MEMO.THENCE North 00039'43" East.a distance of 45.73 feet to a PC;
THENCE along the arc of a curve concave to the West a distance of 126.39 feet, said
curve has a Radius of 743.16 feet, a Delta of 09°44'40" and is subtended by a chord
bearing North 04012'37" West a distance of 126.24 feet to a Point of Reverse Curvature;
THENCE along the arc of a curve concave to the East a distance of 105.63 feet, said
curve has a Radius of 643.16 feet, a Delta of 09°24'37" and is subtended by a chord
bearing North 04°22'39" West a distance of 105.51 feet to the TRUE POINT OF
BEGINNING.
Said parcel contains 1.196 acres more or less O.
SURVEYOR'S CERTIFICATE
I, 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 best of my knowledge and belief.
1.1
"EXHIBIT A"
PROPERTY DESCRIPTION
ADRIAN SUBDIVISION
A parcel of land being a part of the Northeast Quarter (NE1/4) of Section Nine (9),
Township Seven North (T.7N.), Range Sixty-nine West (R.69W.), Sixth Principal
Meridian (6th P.M.), County of Larimer, State of Colorado and being more particularly
described as follows:
COMMENCING at the North Quarter Corner of said Section 9 and assuming the North
line of said NE1/4 as bearing South 8914'52" East, being a Grid Bearing of the Colorado
State Plane Coordinate System, North Zone, North American Datum 1983/92, a distance
of 2627.67 feet with all other bearings contained herein relative thereto:
THENCE South 89°14'52" East along the North line of the NE1/4 of said Section 9 a
distance of 1101.60 feet to the East Right of Way (ROW) line of Impala Drive as
dedicated in the Replat of the Green Acres Subdivision;
THENCE South 00°39'43" West along the East ROW line of Impala Drive a distance of
150.28 feet to a Point of Curvature (PC);
THENCE continuing along the East ROW line of Impala Drive and along the arc of a
curve concave to the East a distance of 3.75 feet, said curve has a Radius of 643.16 feet, a
Delta of 00°20'03" and is subtended by a chord bearing South 00°29'41" West a distance
of' .75 feet to the TRUE POINT OF BEGINNING;
THENCE South 89°22'20" East a distance of 108.15 feet;
THENCE North 48°12'51" East a distance of 23.72 feet;
THENCE South 89°22'20" East a distance of 68.80 feet to the West line of a parcel of
land described in Reception No. 91012605 of the Records of Larimer County;
THENCE South 00°37'49" West along said West line a distance of 296.50 feet to the
North line of said parcel of land described in Reception No. 91012605 of the Records of
Larimer County;
THENCE North 88'06' 11" West along said North line a distance of 174.66 feet to the
East ROW line of Impala Drive as dedicated in the Replat of the Green Acres
Subdivision;
The next Three (3) courses and distances are along the East ROW line of said Impala
Drive:
7
STATE OF COLORADO)
ss.
COUNTY OF LARIMER)
Subscribed and sworn to before me this 4 day of May, 2006 b Darin
Atteberry as City Manager, and Wanda Krajicek, as City Clerk of P ort
Collins, Colorado, a Colorado municipal corporation. �P�••" "'••.9
• ,IOTA /� 'L
WITNESS MY HAND AND OFFICIAL SEAL
My co i ion expires:
lzzi
N
STATE OF COLORADO)
) ss.
COUNTY OF LARIMER)
j `
Subscribed and sworn to before me this day of May, 2006, by William
John Adrian, Jr., as Owner.
DAVID T. DARAN
WITNESS MY HAND AND OFFICIAL SE �F tD0
My commissi n ees: MY COMMISSION EXPIRES 9,2*007
`� x Trr — i ---
nt ry P h 'r
STATE OF COLORADO)
) ss.
COUNTY OF LARIMER)
Subscribed and sworn to befo e me this _Ji day of May lied
Adrian, as Owner. DAVID T. BARAN
�, NOTARY PUBLIC
WITNESS MY HAND AND OFFICIAL SE E OF COLORADO
My co L i sio expires:
r�%(TV MY COMMISSION BTIRES 9/2g2007
G7
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the
date first written hereinabove.
CITY: THE CITY OF FORT COFT
DO
A Municipal Corpor
By:T---D, 1�
nn Atteberry
City Manager
ATTEST: �OF EORT 00` APpRO Epl AS O FORM:
City Clerk SEAL Deputy City Attorney
DEVELOPER
William John -Adrian, Jr., O' er
By:'... .. .
J I K. Adrian, Owner
0
h. Assignment and Transfer.
a. The Developer shall have the right to sell, transfer, convey and assign
the Project and its rights and obligations under this Agreement at any time subject
to the prior written consent of the City, which consent shall not be unreasonably
withheld, however, that such City consent shall not be required in connection with
any of the following:
(1) The conveyance or dedication of any portion of the
Project to the City or other appropriate governmental agencies, or the
granting of easements or permits to public utilities to facilitate the
construction of the Project, or
(2) Subject to the ownership restrictions set forth in Article 2
hereof, the sale to affordability -qualified buyers of units in the Project, or
(3) The encumbering of the Project by liens and mortgages if
subordinate to this Agreement and authorized in this Agreement, or
(4) The replacement of personal property or fixtures.
b. All of the terms, covenants and conditions of this Agreement shall be
binding upon the Developer and the permitted successors and assigns of
the Developer. Whenever the term "Developer" is used in this -
Agreement, such term shall include any other permitted successors and
assigns as herein provided.
i. Counterparts. This Agreement may be executed in counterparts, each of
which shall be deemed to be an original, and such counterparts shall constitute one and
the same instrument.
[The remainder of this page intentionally left blank.]
C!
C. Entire Agreement and Amendments. This Agreement integrates all of the terms
and conditions mentioned herein, or incidental hereto, and supersedes all negotiations and
previous agreements between the parties with respect to all or any part of the subject matter
hereof. All references herein to this Agreement shall mean and include the Exhibits hereto unless
the context otherwise requires. All amendments and modifications hereto must be in writing and
signed by the appropriate authorities of the City and the Developer.
d. Severability. If any term, provision, covenant, or condition of this Agreement is
held by a court of competent jurisdiction to be invalid, void, or unenforceable, the remainder of
this Agreement shall not be affected thereby to the extent such remaining provisions are not
rendered impractical to perform taking into consideration the purposes of this Agreement. In the
event that all or any portion of,this Agreement is found to be unenforceable, this Agreement or
that portion which is found to be unenforceable shall be deemed to be a statement of intention by
the parties; and the parties further agree that in such event, and to the maximum extent permitted
by law, they shall take all steps necessary to comply with such procedures or requirements as may
be necessary in order to make valid this Agreement or that portion which is found to be
unenforceable.
e. Venue.- If either party to this Agreement initiates any legal or equitable action to
enforce the terms of this Agreement, to declare the rights of the parties under this Agreement, or
which relates to this Agreement in any manner, the City and the Developer agree that the proper
venue for any such action is the Larimer County, Colorado District Court.
f. Authority of Signatories to Bind Principals. The persons executing this
agreement on behalf of their respective principals represent that they have been authorized to do
so and that they thereby bind the principals to the terms and conditions of this Agreement.
g. Notices and Demands Between the Parties. All notices and demands between the
City and the Developer shall be in writing and shall be given either by: (i) personal service, (ii)
delivery by reputable document delivery service (such as Federal Express) that provides a receipt
showing date and time of delivery, or (iii) mailing in the United States mail, postage prepaid,
return receipt requested, addressed to the Developer as follows:
Developer's Address: City's Address
Attn: Julie K. Adrian, Developer Attn: Maurice Head, City Planner
13550 Alex Place Advance Planning Department
Carr, CO 80612 P. O. Box 580
Fort Collins, CO 80522-0588
Notices personally delivered or delivered by document delivery service shall be
deemed effective upon receipt. Notices mailed shall be deemed effective on the fifth
business day following deposit in the United States mail. Such written notices and
demands shall be sent in the same manner to such other addresses as either party may
from time to time designate by mail.
3
ARTICLE 2. RESTRICTED UNITS
a. During the term of this Agreement, all seven (7) units in the Project will be held
for sale in a manner which qualifies the Project as an affordable housing project under Section
5.1.2 of the City of Fort Collins Land Use Code.
Any amendment to such Land Use Code which reduces either (i) the percentage of
median income or (ii) the percentage of gross income threshold levels used to determine
qualification as affordable housing, shall not apply to the Project or individual units for sale in the
Proj ect.
ARTICLE 3. DEFAULT/ENRORCEMENT
Failure or delay by the Developer to perform any term or provision of this Agreement
constitutes a default under this Agreement provided, however, the Developer shall not be deemed
to be in default if the Developer (i) cures, corrects, or remedies such default within sixty (60)
days after receipt of a notice from the City of the default, or (ii) commences cure within such
period if it reasonable takes longer than sixty (60) days to cure, and after commencement,
Developer. diligently pursues such cure to completion. The City may not institute proceedings
against the Developer in default until the time for cure, correction, or remedy of a default has
expired. Subject to the obligations of the City to first provide the notice of default and allow the
Developer ineligible for any further participation in future City affordable housing Agreements,
in addition to other remedies as provided by law. Upon any default of the Developer under this
Agreement, the City may seek specific performance of this Agreement.
ARTICLE 4. EFFECT OF COVENANTS
The City is deemed beneficiary of the terms and provisions of this Agreement and of the
restrictions and covenants running with the land for and in it's own right and for the purpose of
protecting the interests of the community and other parties, public or private, in whose favor and
for whose benefit the covenants running with the land have been provided. The covenants in
favor of the City shall run without regard to whether the City has been, remains, or is an owner of
any land or interest therein in the Project.
ARTICLE 5. GENERAL PROVISIONS
a. Concurrent Remedy. No right or remedy herein conferred on or reserved to the
City is exclusive of any other right or remedy herein or by law or equity provided or permitted;
but each shall be cumulative of every other right or remedy given hereunder or now or hereafter
existing by law or in equity or by statute or otherwise, and may be enforced concurrently
therewith or from time to time.
b. Waiver. No covenant or condition of this Agreement can be waived except by
the written consent of the parties. Forbearance or indulgence by one party in any regard
whatsoever shall not constitute a waiver of the covenant or condition to be performed by the other
party. A waiver of one covenant or condition by one party does not grant or imply a waiver of
any other covenant or condition to be performed by the other party. Each party shall be entitled
to invoke any remedy available to it under this Agreement or by law or in equity despite said
forbearance or indulgence.
2
Recorded at the request of:
When recorded return to:
AGREEMENT OF RESTRICTIVE COVENANTS AFFECTING REAL PROPERTY
THIS AGREEMENT OF RESTI�C� COVENANTS AFFECTING REAL
PROPERTY ("Agreement') is executed this—��F��1V�� day of May, 2006, by and between the CITY
OF FORT COLLINS, a Colorado municipal corporation ("City"), and William John Adrian, Jr.
and Julie K. Adrian, owners, ("Developer"), with reference to the following:
A. The Developer has entered into an agreement to provide affordable ownership
opportunities of that certain real property located in the City of Fort Collins, County of Larimer,
State of Colorado, more particularly described in Exhibit "A" attached hereto and incorporated
herein by this reference (the "Property").
B. Developer desires to develop the Adrian Subdivision as seven (7) single-family
homeownership units ("Project'), excluding the house and lot at 2333 W. Vine Drive in the City
of Fort Collins.
C. Developer and the City are entering into this Agreement for the purpose of granting
the Developer certain benefits for the construction of affordable housing in the City. This
includes without limitation, Priority Processing, Development Plan Fee Waiver and certain other
incentives for which the Developer may qualify in developing the Property. The City will provide
the aforementioned benefits to Developer in exchange for the resulting purchase price and terms
for sales consistent with affordable housing guidelines issued by the City, which states
homeownership units shall not exceed 80% of Area Median Income with respect to household
size.
NOW, THEREFORE, in consideration of the foregoing and in consideration of the
mutual promises and covenants of the parties and other good and valuable consideration, the
receipt and sufficiency of which is acknowledged by the parties, the City and Developer hereby
agree as follows:
ARTICLE 1. TERM; RECORDATION; BINDING EFFECT
The term of this Agreement shall be twenty (20) years, commencing upon the issuance of
the first certificate of occupancy for any unit in the Project, unless such term is extended or earlier
terminated. This Agreement shall be recorded as a restrictive covenant in the Office of the
Larimer County, Colorado, Clerk and Recorder. This Agreement, and the terms and conditions
hereof, shall run with the land and shall be binding upon and inure to the benefit of the parties
hereto, and their respective successors and assigns, as provided herein.
Simultaneously with the creation of each affordable unit as a separately subdivided parcel of real
property, by recording of a condominium map or otherwise, and prior to any sale or contract to
sell, the Developer will subject each affordable unit to this covenant recorded with the Larimer
County Clerk and Recorder and shall give written notice to prospective homeowners of the 20
year affordability and income requirements of the City of Fort Collins.
City of Fort Collins
Commm...y Planning and Environmental SE.: ices
Advance Planning Department
MEMORANDUM
TO: Darin A. Atteberry, City Manager
FR: Maurice Head, Affordable
TH: Gregory Byrne, Director, C
Joe Frank, Director, Advann
DT: May 18, 2006
RE: Signature Requested
►�
Attached is an Agreement of Restrictive Covenant for the following affordable housing project,
which has been signed by the developers:
Adrian Subdivision
The development will have 7 single-family homeownership units that will be restricted for 20
years. The project is located at W. Vine and Impala Drive.
After approval as to form by the Deputy City Attorney, signature by the City Manager, and
attestation by the City Clerk, please return to the Advance Planning Department or call for pick-
up (Maurice Head x6342 or Stephanie Sydorko, x6376).
Thank you!
281 North College Avenue ^ FrO. Box 580 • Fort Collins, CC 80522-0580 • (970) 221-6376
F.°LX (970) 22" 6111 TDD (970) 22-__-600? , E rat: aplanning%ufcgo;.cem