HomeMy WebLinkAboutDAKOTA RIDGE PUD THIRD - Filed OA-OTHER AGREEMENTS - 2003-07-31AGREEMENT FOR PAYMENT AND SETTLEMENT
THIS AGREEMENT is entered into this day of November, 2001, by and
between the CITY OF FORT COLLINS, COLORADO, a Municipal Corporation, hereinafter
referred to as the "City". and CDL PARTNERSHIP, a Colorado Partnership. hereinafter referred
to as the "Developer'.
EXPLANATORY STATEMENT
Developer developed the First, Second, and Third Filing of Dakota Ridge located in the
South I lalf of Section 29, Township 7 North, Range 68 West of the 61h P.M., in the City of Fort
Collins, County of Larimer, State of Colorado (the "Development").
The predicate to the development of said properties was that the Developer and the City
had entered into three (3) Development Agreements respectively dated August 25, 1992 (First
filing). October 6. 1993 (Second Filing), and August 4, 1995 (Third Filing), (collectively the
"Development Agreements").
Tlie Development Agreements required the Developer to install certain infrastructures,
utilities. and streets in and adjacent to the Development.
One of the streets, Coal Bank Drive, has developed deterioration problems and the City
has rcqucstcd the Developer to participate in the cost of repairing a certain portion of Coal Bank
Drive.
The Developer and the City acknowledge that the Developer, under the terms of the
Development Agreements and/or under the terms of any other City Code or regulation, is not
obligated to the City or to third parties to pay for or contribute to any part of the Coal Bank Drive
Street repair. Nevertheless, the Developer, to show its good faith, has agreed, with the assistance
ol, its contractor. Schmidt Earth Builders, Inc. (Schmidt), to contribute the sum of $25,000.00
toward such repair upon the sole condition and understanding that the City acknowledges and
agrees that Developer and Schmidt do not have any legal obligation to make payment for or
contribute to the Coal Bank Drive street repair, nor is Developer or Schmidt assuming or
reactivating any other obligations of the Development Agreements or under any City Code.
policy, or ordinance. This Explanatory Statement includes substantive terms of this Agreement
and said Agreement is incorporated by reference herein.
1. Work Performed by Developer. The Developer and its subcontractor, Schmidt,
in the aggregate. agree to contribute the sum of $25,00.00 to partially defray the Coal Bank
Drivc repairs. Tlic Developer and Schmidt shall have no further obligation with respect to said
repaired area to Coal Bank Drive.
2. The City acknowledges to the best of its knowledge as of the date of this
Agreement. that the Developer has made all of the necessary improvements required under the
Development Agreements and City Code and any other City regulations relating to the
Development, including. but not limited to. water lines, sub -drains, sanitary sewer collection
lines, storm sewer lines. facilities, streets, curbs, gutters, sidewalks, bike paths, and other utilities
or improvements contemplated for or provided for in the Development Agreements. The City
has accepted and approved all of said subdivision improvements for the Development.
3. The City agrees that the Developer and Schmidt are making a good faith gesture
in participating in the Coal Bank Drive repair and are not reactivating or admitting any liability
for such repair. which liability they expressly deny. nor is the Developer or Schmidt activating or
reaffirming or otherwise causing any of the statutes of limitations or obligations set forth in the
Development Agreements to be extended or to apply to Developer's obligations for any of the
Development.
4. The Developer represents that it has divested itself of all equitable and legal
interest in the property described in the three Development Agreements and the Development. If
such Developer's representations are correct, the Developer is released from all liabilities or
obligations of "hatsoever kind or nature arising from or in any way related to the Development
Agreements except for the indemnity obligation set forth in Items I-H and I-K therein.
ti. For purposes of this Agreement, there may be any number of counterparts, each
of which shall be deemed as originals. Facsimile signatures, for purposes of this Agreement,
shall be deemed as original signatures.
A" KTEST:
Ack.4�11�toh "A n
City Clerk
THE CITY OF FORT COLLINS, COLORADO
a Municipal Corporation
By: 4- h-A a
City M nager
CDL PARTNERSHIP, a Colorado Partnership
Charles M. Betters, Partner
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