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HomeMy WebLinkAboutRICHIE'S EXPRESS CARWASH - PDP - 15-00 - CORRESPONDENCE - EASEMENTSRichie's Fort Collins Express Carwash, LLC c/o Mr. Thomas W. Frank, Partner January 29, 2001 Page 2 On behalf of Compass Bank, I am please to support your project. Sincerely V/ m L. Kirkpatrick President LLC 0 Its Date: January ✓!/ 2001 ` Compass Bank January 29, 2001 Richie's Fort Collins Express Carwash, LLC c/o Mr. Thomas W. Frank, Partner I I I Monument Circle, Bank One Tower Suite 4570 Indianapolis, Indiana 45204 Compass Bank P.O. Box 10566 Birmingham, Alabama 35296 Steven L. Kirkpatrick Vice President Administrative Services RE: Agreement for Exchange of Property and Easements Between Compass Bank (formerly Known as FirsTier Bank of Colorado) and Richie's Fort Collins Express Carwash, LLC Mr. Frank: This letter shall serve to acknowledge and affirm that Compass Bank ("Compass") hereby consents to proceed with and enter into a certain Agreement as referenced above with Richie's Fort Collins Express Carwash, LLC ("Richie's"). The execution and recording of such an Agreement shall be conditioned upon the final approval, by Compass, of all related and supporting documentation and the eventual real estate purchase "closin " by Richie's for which the subject Agreement shall support. The parties understand that Richie's will be developed upon the site situated to the immediate south of Compass on real estate presently and commonly known as The Tire Shoppe, owned by Mr. John Dougherty. The closing is anticipated on or about April 1, 2001. The Agreement shall provide that Compass and Richie's shall exchange parcels of real estate so as to better define their mutual boundary and to redirect Compass parking to within its own site. Richie's shall perform proper engineering and construction to alleviate pooling of rain waters in the easement and parking areas and to construct the modified parking areas. Richie's shall provide proper surveys of the properties being conveyed and will furnish Compass with an owner's policy of title insurance. The land exchange shall be made in accordance with all subdivision laws, including a re -plat of the two properties if required by law or ordinance. All costs shall be the responsibility of Richie's. Richie's also shall grant Compass, its customers and invitees an easement for ingress and egress over the redesigned driveway easement providing access in front of and east Richie's to South College Avenue and to Foothills Drive on the north side of Richie's. We understand the City of Fort Collins will not consider final project plans for approval until such time the parties agree to the above referenced Agreement. This Letter of Intent, when executed by Compass, shall serve to confirm for Fort Collins that the negotiation and execution of such an Agreement has been approved by the parties and will be held in escrow with Land Title Guarantee Company of Fort Collins, Colorado until closing. A copy of the referenced Agreement has been furnished to Compass for review, acceptance, and execution. In the event that Compass and Richie's are unable to agree upon and execute the referenced Agreement, then this Letter of Intent shall be void and of no further force or effect.