HomeMy WebLinkAboutAVONDALE COTTAGES - PDP - PDP140003 - SUBMITTAL DOCUMENTS - ROUND 1 - LETTER OF INTENT�TCI�_",rcu?11077 TV1=7177, t-Mal Tn-C
("Avondale") and Ridgewood Hills Master Association, a Colorado nonprofit corporatio
("Ridgewood") (individually "Party, collectively the "Parties"). I
Tract L, Ridgewood Hills, P.U.D. First Filing, in the City of Fort Collins,
County of Larimer, State of Colorado.
B. Ridgewood is the master association pursuant to the Colorado Common Interest
Ownership Act (CCIOA), C.R.S. § 38-33.3-101 et seq. and manages all large planned
community matters for the following described real estate:
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C. Ridgewood and Avondale are engaged in negotiations that may culminate in
Avondale acquiring from Ridgewood an easement for a water line owned by Fort Collins -
Loveland Water District as generally depicted on Exhibit A.
D. The Parties wish to enter into this non -binding Utter of Intent as the basis
negotiating the terms and conditions of the easement referenced above.
FOR AND IN CONSIDERATION of the mutual covenants contained in this Agreement,
Ridgewood and Avondale agree as follows:
1. Comi-nitment to Easement Agreement. Avondale, acting by its duly appointed
and now acting Manager, and Ridgewood, acting by and through its duly clected board, hereby
agree that each entity will endeavor to negotiate and execute an easement agreement for a water
line owned by Fort Collins -Loveland Water District as generally depicted on Exhibit A, which
will be located on common element of Ridgewood Hills P.U.D.
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recorded as required by the governing documents of Avondale and Ridgewood. I
3. Governi;i&Law. This Letter of intent shall be governed by and construed
;,,ccordance with the laws of Colorado.
4. Letter of Intent Non-]3�inding. The Parties acknowledge that this Letter of Intent
is non -binding and that no legal or binding agreement will exist unless and until a definitive
easement agreement is negotiated and executed by each Party.
IN WITNESS WHEREOF, the Parties have signed this Letter of Intent on the dates
referenced below.
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Avondale Limited, LLC,
a Colorado limited liability company,
t Colorado nonprofit corporation
Executed: May, 2014. By:
l,qo ,m z Pka Chairperson
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