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Home My WebLink AboutOAK RIDGE WEST 1ST FILING HEALTHCARE INTERNATIONAL - FINAL - 23-87B - - ROW RELATED DOCUMENTRCPTN # 87054591 09/107 10:42:38 # OF M. RODENBERGER, RECORDER - LARIMER COUNTY CO PAGES• 5 FEE - $15. 00 STATE DOC FEE- $.00 AGREEMENT This Agreement is entered into August 21, 1987 by and between Everitt Enterprises Limited Partnership No. 1, a Colorado limited partnership, and KEM Homes, Inc., a Colorado corporation (collec- tively referred to herein as "Everitt and KEM"), and the City of Fort Collins, Colorado, a municipal corporation (the "City"). Recitals Everitt and KEM are the owners of certain real property with- in the City of Fort Collins, Colorado identified as Oakridge West P.U.D., First Filing, a Tract of Land located in the Northeast Quarter of Section 1, Township 6 North, Range 69 West of the 6th P.M., City of Fort Collins, County of Larimer, State of Colorado ("Oakridge"). On the Plat of Oakridge West P.U.D. First Filing (the "Plat"), Everitt and KEM are dedicating for public use certain property described on the Plat as Rule Drive. Additional property to the west of Rule Drive, identified on the Plat as Tract A -Utility Easement ("Tract A"), will be pres- ently dedicated by Everitt and KEM as a utility easement but will not be presently dedicated as a street. By this Agreement, the parties wish to set forth the terms and conditions on which Tract A will be subsequently dedicated for public use as a street. Agreement In consideration of the mutual covenants contained in this Agreement, and for other valuable consideration, the receipt and sufficiency of which is acknowledged, the parties agree as fol- lows: 1. Conditions for Dedication. At no cost to the City, Everitt and KEM will dedicate Tract A to and for public use as a street upon the earlier of the following events: a. The City's issuance of the first building permit for the Healthcare Colorado, Inc. Medical Office Building (Phase II development as finally approved August 24, 1987), to the extent that Tract A is then necessary for access to said Building. b. The City's final approval of development of that parcel of land lying immediately to the north of Oakridge, presently owned by Everitt and KEM, which property is legally described on Exhibit A, attached and incorporated by refer- ence, to the extent Tract A is then necessary for access to said parcel. Page 1 of 3 \� r� • • c. The City's final approval of parcel of land immediately to the west owned by Oak Farm Inc., which property on Exhibit B, attached and incorporated extent that Tract A is then necessary parcel. development of that of Oakridge presently is legally described by reference, to the for access to said 2. Costs of Improving Tract A. In the event Tract A is dedicated under Section 1 above, the dedication shall be of Tract A plus fully completed street improvements, including without limitation, street, curb, gutter, sidewalk, lighting, and utility improvements. All costs of constructing such improvements on Tract A will be borne by the landowner whose development has triggered the dedication. Such improvements shall be made in accordance with all then existing applicable City requirements. 3. Term. If none of the events described in Section 1(a) through 1(c) above have occurred by August 21, 2008, then this Agreement shall at that time become null and void, and all obliga- tions of Everitt and KEM hereunder shall terminate without further action by any party. Furthermore, in the event of such termina- tion, any restriction contained on the Plat regarding the dedica- tion of Tract A shall become null and void without further action by any party. 4. Entire Understanding. This Agreement constitutes the entire understanding between the parties and incorporates all previous negotiations and agreements. Any change in the Agreement must be in writing executed by all parties. 5. Binding Effect. This Agreement shall be binding upon the parties, t eir respective successors, grantees and assigns. 6. Recording. This Agreement shall be recorded with the Clerk and Recor er of Larimer County, Colorado. Dated the date set forth above. EVERITT ENTERPRISES LIMITED PARTNERSHIP NO. 1, a Colorado limited partnership BY: EVERITT ENTERPRISES, INC., a Colorado,-coration M- aging Partner L-- Gerald R. axton, Presi ent A ST Gar Sauder, Vice President Tre surer and Assistant Secretary Page 2 of 3 KEM HOMES, INC., a Colorado corpor tion :u By William R. Krug, Presid t Hoz i ss ✓ ant Secretary CITY OF FORT COLLINS, COLORADO, a municipal corpor ion By: City Manager ATTEST: 11��k-A.---44 �-- 'City C16kk APPROVR S TO FORM: W. Paul Eckman, Assistant City Attorney Page 3 of 3 James H. Stewart and Associates, Inc. Consulting Engineers and Surveyors \ v` Laboratory: North Slreel 301 Lincoln Court P.O P.O. Box 129 29 P.O. Box 429 Fort Collins, Colorado 00522 Fort Collins, Colorado 80522 1303) 482-9331 (303) 484 6309 DESCRIPTION OF KEM/EVERITT EXCEPT SOUTH LEMAY RIGHT-OF-WAY A tract of land situate in the Northeast 1/4 of Section 1, Township 6 Range 69 West, of the Sixth P.M., City of Fort Collins, County of Larimer, State of Colorado, which, considering the East line of said Northeast 1/4 as bearing S 00' 10' W, and with all bearings contained herein relative thereto, begins at a point on the West line of South Lemay Avenue which bears S 00' 10' W 1270.69 feet, -and again N 89' 50' W 63.00 feet froill the Northeast corner of said Section 1, and runs thence S 00' 10' W 491.52 feet; thence N 89' 50' W 637.00 feet; thence N 00' 10' E 462.21 feet; thence along the arc of a 400 foot radius curve to the right a distance of 29.34 feet, the long chord of which bears N 02' 16' 37" E 29.33 feet; thence S 89' 50' E 635.92 feet to the point of beginning, containing 7.1883 acres. EXHIBIT A DEED FROM EVERITT ENTERPRISES, INC. 0 Y.� OAK FARM INC. DATED JANUARY 5, 1982 A part of the Northeast Z of Section 1, Township 6 North, Range 69 Ilest of the Sixth P JI., City of Fort Collins, County of Larimer. State of Colorado, which, considering the east line of said Northeast 4, as bearing S 00°10' 1•1, and with all bearings contained herein relative thereto, begins at a point on said east line which bears S 00°10' 1.1 81.n0 feet from the northeast corner of said Section 1, and runs thence along said east line, S 00*10' W 819.00 feet; thence N 89°50' W 300.00 feet; thence along the arc of a 400 foot radius curve to the left a distance of 628.32 feet, the long chord of which bears S 45*10' W 565.69 feet; thence S 00*10' 14 1345.41 feet to the south line of said tortheast z to a point which bears N 89*56'50" it 700.00 feet from the Fast 4 corner of said Section 1; thence along the south line of said Northeast k, N 89°56'50" W 1800.95 feet; thence 11 32°13'45" 11 284:41 feet to the west line of said Northeast k; thence along said west line, N 00°11'05" E 1736.51 feet; thence S 89048'55" E 400.00 feet; thence 11 00°11'05" E 565.00 feet to the southerly line of. Colorado State highway No. 68; thence along said southerly line, S 86*16' F 50.93 feet, and again along said southerly line, N 83*39' E 603.60 feet; and again along said southerly line, N 89°55'30" E 600.00 feet, and again along said southerly line, N 89°45'15" E 921.30 feet, and again along said southerly line, S 46°21'31" E 70.00 feet, and again along said southerly line, N 89°55'30" F, 30.00 feet to the point of beginning. EXHIBIT B