HomeMy WebLinkAboutDAKOTA RIDGE PUD - Filed DA-DEVELOPMENT AGREEMENT - 2003-07-31DEVELOPMENT AGREEMENT
THIS AGREEMENT, made and entered into this O.S-' day of s
199 Z7, by and between the CITY OF FORT COLLINS, COLOR
Municipal Corporation, hereinafter referred to as the "City"; CDL
PARTNERSHIP, a Colorado Partnership, hereinafter referred to as the
"Developer"; and TIMBERLINE PARTNERS LIMITED, a Colorado Limited
Partnership, hereinafter referred to as the "Owner."
WITNESSETH:
WHEREAS, the Developer has entered into an agreement with the
Owner to acquire ownership of certain property situated in the
County of Lariimer, State of Colorado, (hereafter referred to as the
"Property") and legally described as follows, to wit:
DAKOTA RIDGE, P.U.D. FIRST FILING, located in the Southwest
Quarter of Section 29, Township 7 North, Range 68 West of the
6th P.M. in the City of Fort Collins, County of Larimer, State
of Colorado.
WHEREAS, the Developer desires to develop the Property and has
submitted to the City a subdivision plat and/or a site plan and
landscape plan, a copy of which is on file in the office of the
Director of Engineering and made a part hereof by reference; and
WHEREAS, the Developer has further submitted to the City
utility plans for the Property, a copy of which is on file in the
office of the Director of Engineering and made a part hereof by
reference-; and
WHEREAS, the parties hereto have agreed that the development
of the Property will require increased municipal services from the
City in order to serve such area and will further require the
installation of certain improvements primarily of benefit to the
lands to be developed and not to the City of Fort Collins as a
whole; and
WHEREAS, the City has approved the subdivision plat and/or
site plan and landscape plan submitted by the Developer subject to
certain requirements and conditions which involve the installation
of and construction of utilities and other municipal improvements
in connection with the Property.
NOW, THEREFORE, in consideration of the promises of the
parties hereto and other good and valuable consideration, the
receipt and adequacy of which is hereby acknowledged, it is agreed
as follows:
I. General Conditions
A. The terms of this Agreement shall govern all development
activities of the Developer pertaining to the Property. For the
purposes of this Agreement, "development activities" shall include,
EXHIBIT "A"
1. Schedule of water lines to be installed out of sequence.
Not Applicable.
2. Schedule of sanitary sewer lines to be installed out of
sequence.
Not Applicable.
3. Schedule of street improvements to be installed out of
sequence.
Street improvements on Horsetooth Road shall be constructed in
accordance with the provisions of Section II.D.2. of this
Agreement.
4. Schedule of storm drainage improvements to be installed out
of sequence.
Not Applicable.
10
DAKOTA RIDGE P.U.D. FIRST FILING
EXHIBIT "B"
DESCRIPTION
A 525 foot section of a masterplanned 36" storm water line is to be contructed across
Red Mountain Drive and adjacent to the south edge of lots 49, 61, 62, & 63 in Dakota Ridge
P.U.D. First Filing. This line parallels an existing 21" sanitary sewer line and will be plugged
on both ends as shown on the Dakota Ridge P.U.D. Construction Drawings.
COST ESTIMATE
ITEM
QUANTITY
UNIT
COST TOTAL
36" RCP TYPE III
(INSTALLED -WITH
BEDDING)
525
L.F.
40.00 $ 21,000.00
36" CONCRETE
PLUG
2
EA.
500.00 $ 1,000.00
ENGINEERING
Lump Sum
L.S.
$ 1,250.00
STAKING
Lump Sum
L.S.
$ 250.00
.\W 1
N <
NOC,
epee=� ��\?•w
'I1fGNNi:��
TOTAL $ 23,500.00
DAKOTA RIDGE, P.U.D. FIRST FILING
AMENDMENT AGREEMENT NO.1
THIS AM NDMENT AGREEMENT, made and entered into this
day of y14Wsj of 199, , by and between the CITY OF FORT COLLINS,
COLORADOO Jaa—municipal corporation, hereinafter referred to as the
"City"; CDL PARTNERSHIP, a Colorado Partnership, hereinafter
referred to as the "Developer"; and KEM HOMES INC., a Colorado
Corporation, C&M HOMES, INC., a Colorado Corporation, LEW LDT., a
Colorado Corporation, Wolfgang Wegner (Wegner Homes), an
individual, ODAU CONSTRUCTION, INC., a Colorado Corporation, and
PITNER CONSTRUCTION, INC., a Colorado Corporation, hereinafter
referred to as "Contract Purchasers", is an amendment to that
certain Development Agreement dated the 25th of August, A.D. 1992,
by and between the City and the Developer, hereinafter referred to
as the "Development Agreement."
WHEREAS, the City and the Developer previously executed the
Development Agreement; and
WHEREAS, the Developer subsequently entered into sale/purchase
agreements with the Contract Purchasers to purchase certain of the
lots in this development; and
WHEREAS, the parties are presently desirous of modifying the
Development Agreement;
NOW, THEREFORE, in consideration of the promises of the
parties hereto and other good and valuable consideration, the
receipt and adequacy of which is hereby acknowledged, the parties
agree as follows:
Subheading II. Special Conditions; section E. Ground Water;
shall be added to the Development Agreement and shall provide as
follows:
E. Ground Water
1. The Developer and the City recognize that the
Developer has requested that a subdrain system be install in the
streets of this development to help prevent ground water from
entering basements of homes constructed within this development.
Accordingly, it is agreed that the Developer shall be allowed to
install a subdrain system, designed to help prevent water from
seeping into said basements, in accordance with the approved plans
for this development. The subdrain system constructed for this
development has no gravity flow outlet and, therefore, the subdrain
system will not function without pumping water from a down stream
manhole, until such time that a gravity flow outlet can be
constructed with a future filing for the Dakota Ridge Overall
Development Plan area. The future outlet must function by gravity
with no pumping required and must be completed and approved by the
City prior to the issuance of more than 33 building permits. If a
satisfactory outlet cannot be constructed and all necessary
easements secured for the subdrain facilities and discharge flows,
the subdrain installed within this development shall be abandoned
by the Developer. Abandonment of the system shall be done by
filling the entire subdrain system (including cleanouts and
manhole) with sand. Notwithstanding the forgoing, the Developer
shall have the option to postpone the completion of a satisfactory
outlet and the required abandonment of the subdrain system (in the
event of noncompletion) and may obtain issuance of the remaining
building permits for this development prior either to the
completion of said satisfactory outlet or abandonment of the
subdrain system, following the escrow of funds to be deposited with
the City in the form of cash, bond, nonexpiring letter of credit or
other form of City approved security sufficient to guarantee
completion of either said satisfactory outlet (including costs of
design, construction, easement acquisition and incidental costs) or
abandonment of the subdrain system, whichever generates the highest
cost. The escrow amount shall be 150% of the average of three,
City approved, contractor bids for the highest cost solution.
2. The Developer and the City agree that the City shall
not be responsible for the maintenance of said subdrain system and
that it shall be the responsibility of the Developer to maintain
said subdrain system until it is completed with a gravity flow
outlet or said subdrain system is abandoned. The City shall not be
responsible for, and the Developer hereby agrees to indemnify the
City against, any damages or injuries sustained in the development
as a result of groundwater seepage, whether resulting from
groundwater flooding, structural damage or other damage unless such
damages or injuries are sustained as a result of the City's failure
to properly maintain its water, wastewater and /or storm drainage
facilities in the development. Once the subdrain system is
completed with a gravity flow outlet and construction of said
system has been approved by the City, the Developer's maintenance
responsibilities shall continue for a period of five years after
such approval. After said five years have passed, and only if the
City has determined that it is to be the responsible party to
maintain subdrain systems installed within public rights of way,
the City will become responsible for the maintenance of the
completed system. If after the passage of five years from the
approval of said system the City has determined that it is not to
be the responsible party for maintenance of subdrain systems
installed within the public rights of way, the Developer shall
continue to be responsible for the subdrain system maintenance or
the Developer shall have the right to abandon the subdrain system
at such time as the Developer chooses not to maintain the subdrain
system. (By way of emphasis and explanation, everybody should have
a look at paragraphs III, I and J of the Development Agreement
because the subsequent lot owners of this development "step into
the shoes" of the Developer when they buy their lots; and if they,
as "the Developer" decide to abandon this subdrain system, they
have to take responsibility for that decision. The consequences of
K,
that decision to abandon is not the City's problem, legal or
otherwise, and no one who owns land in the development should
complain to the City because the abandonment turned out to be a bad
thing for them.)
3. The Developer and the City agree that the subdrain
system approved for construction with this development has been
designed for a specific area which includes this development and
future filings of the Dakota Ridge Overall Development Plan area,
described in the report titled "Dakota Ridge PUD Groundwater
Analysis and Subdrain Design," dated October 22,1992. Unless
specifically agreed to in writing, no other drainage systems nor
subdrain systems from other developments shall be allowed to tie
into said subdrain system.
Except as herein modified, the Development Agreement shall
continue in full force and effect. This Agreement and the
Development Agreement constitute the entire understanding of the
parties.
IN WITNESS WHEREOF, the parties hereto have set their hands
the day and year first above written.
ATTEST:
,�" k.
CITY CLERK
APPROVED AS TO CONTENT:
Diii'ector of EngiheeInW
APPROV,7Y AS TO FORM:�`// CJ
ity Attorney
THE CITY OF FORT COLLINS, COLORADO,
a Municipal Corporation y�
By: � V
City Manager
F
DEVELOPER
CDL PARTNERSHIP, a Colorado
partnership
ATTE T:
By: W\
me:
C
Title: r, ..\� ('_• By:/
Char es M. Be a s, PartneF
CONTRACT PURCHASERS:
KEM HOMES, INC., a Colorado
Corporation --
By:William Krug, President
ATTES :
By:.
Name:\\L5�
Title (corporate seal)
C&M HOMES, INC., a Colorado
Corporation ,
Rick Myers, (President
ATTE T: (�
Bx:^ UN
ame: r
Title: ���, ,_ ,����- �corpo at seal)
LEW PTD.# a golojado Corporation
By:
AT
TES
By
\A cs
Title:(corporate seal)
4
Wolfgang Wegner (Wegner Homes)
an ��In�/dividual
Wolfgahq Werner
AT
Name:
Title:
OD,
Co
M-
ATT
ES c c
eA- \7\c-v, .mac..... ...,uaZ
(corporate seal)
PITNER CONSTRUCTION, INC., a
Colorado Corpo
ration
By. �� ...mom
71chard Pitner, Pregidenrr
ATTEST:
By:
Name:
Title:
(corporate seal)
but not be limited to, the following: (1) The actual construction
of improvements, (2) Obtaining a building permit therefor, or (3)
Any change in grade, contour or appearance of said property caused
by, or on behalf of, the Developer with the intent to construct
improvements thereon.
B. All water lines, sanitary sewer collection lines, storm
sewer lines and facilities, streets, curbs, gutters, sidewalks, and
bikepaths shall be installed as shown on the approved utility plans
and in full compliance with the Council -approved standards and
specifications of the City on file in the office of the Director of
Engineering at the time of approval of the utility plans relating
to the specific utility, subject to a three (3) year time
limitation from the date of execution of this Agreement. In the
event that the Developer commences or performs any construction
pursuant hereto after three (3) years from the date of execution of
this agreement, the Developer shall resubmit the project utility
plans to the Director of Engineering for reexamination. The'City
may require the Developer to comply with approved standards and
specifications of the City on file in the office of the Director of
Engineering at the time of resubmittal.
C. No building permit for the construction of any structure
within the development shall'be issued by the City until the water
lines, fire hydrants, sanitary sewer lines and streets (with at
least the base course completed) serving such structure have been
completed and accepted by the City. No building permits shall be
issued for any structure located in excess of six hundred sixty
feet (6601) from a single point of access.
D. Any water lines, sanitary sewer lines, storm drainage
lines, and/or streets described on Exhibit "A," attached hereto,
shall be installed within the time and/or sequence required on
Exhibit "A." If the Director of Engineering has determined that
any water lines, sanitary sewer lines, storm drainage facilities
and/or streets are required to provide service or access to other
areas of the City, those facilities shall be shown on the utility
plans and shall be installed by the Developer within the time as
established under "Special Conditions" in this document.
E. Except as otherwise herein specifically agreed, the
Developer agrees to install and pay for all water, sanitary sewer,
and storm drainage facilities and appurtenances, and all streets,
curbs, gutters, sidewalks, bikeways and other public improvements
required by this development as shown on the plat, site, landscape
and utility plans, and other approved documents pertaining to this
development on file with the City. Notwithstanding any of the
terms or conditions of this Agreement, and notwithstanding the
terms and conditions of any plat, site, landscape and utility plans
or other approved documents pertaining to this development, the
Developer will not be required to relocate, realign or otherwise
improve or modify the irrigation lateral commonly known as the
"Webster Ditch" if the current owner thereof, Harold R. Webster,
consents to the abandonment or vacation of said ditch. In the
event of any such consent to abandon or vacate, the Developer shall
present proof of any said consent to the City.
F. Street improvements (except curbs, gutters and walks)
shall not be installed until all utility lines to be placed therein
have been completely installed, including all individual lot
service lines leading in and from the main to the property line.
G. The installation of all utilities shown on the utility
plans shall be inspected by the Engineering Department of the City
and shall be :subject to such department's approval. The Developer
agrees to correct any deficiencies in such installations in order
to meet the requirements of the plans and/or specifications
applicable to such installation. In case of conflict, the utility
plans shall supersede the standard specifications.
H. All storm drainage facilities shall be so designed and
constructed by the Developer as to protect downstream and adjacent
properties against injury and to adequately serve the Property (and
other lands as may be required, if any). The Developer has met or
exceeded the minimum requirements for storm drainage facilities as
have been established by the City in its Drainage Master Plans and
Design Criteria. The Developer does hereby indemnify and hold
harmless the City from any and all claims that might arise,
directly or indirectly, as a result of the discharge of injurious
storm drainage or seepage waters from the development in a manner
or quantity different from that which was historically discharged
and caused by the design or construction of the storm drainage
facilities, except for (1) such claims and damages as are caused by
the acts or omissions of the City in maintenance of such facilities
as have been accepted by the City for maintenance; (2) errors, if
any, in the general concept of the City's master plans (but not to
include any details of such plans, which details shall be the
responsibility of the Developer); and (3) specific directives that
may be given to the Developer by the City. Approval of and
acceptance by the City of any storm drainage facility design or
construction shall in no manner be deemed to constitute a waiver or
relinquishment by the City of the aforesaid indemnification. The
Developer shall engage a licensed professional engineer to design
the storm drainage facilities as aforesaid and it is expressly
affirmed hereby that such engagement shall be intended for the
benefit of the City, and subsequent purchasers of property in the
development.
I. The Developer shall pay storm drainage basin fees in
accordance with Chapter 26, Article VII of the City Code. Storm
drainage improvements eligible for credit or City repayment under
the provisions of Chapter 26 are described together with estimated
cost of the improvements on the attached Exhibit "B," which
improvements, if applicable, shall include right-of-way, design and
K
construction costs. See Section II.C, Special Conditions, Storm
Drainage Liners and Appurtenances, for specific instructions.
J. The Developer shall provide the Director of Engineering
with certified Record Plan Transparencies on Black Image Diazo
Reverse Mylars upon completion of any phase of the construction.
K. The Developer specifically represents that to the best of
its knowledge all portions of the Property dedicated to the City
associated with this development are in compliance with all
environmental protection and anti -pollution laws, rules,
regulations, orders or requirements, including solid waste
requirements, as defined by the U. S. Environmental Protection
Agency Regulations at 40 C.F.R., Part 261, and that such portions
of the Property as are dedicated to the City pursuant to this
development, are in compliance with all such requirements
pertaining to the disposal or existence in or on such dedicated
property of any hazardous substances, pollutants or contaminants,
as defined by the Comprehensive Environmental Response Compensation
and Liability Act of 1980, as amended, and regulations promulgated
thereunder. The Developer does hereby indemnify and hold harmless
the City from any liability whatsoever that may be imposed upon the
City by any governmental authority, pertaining to the disposal of
hazardous substances, pollutants or contaminants, and cleanup
necessitated by leaking underground storage tanks, excavation
and/or backfill of hazardous substances, pollutants or
contaminants, or environmental cleanup responsibilities of any
nature whatsoever on, of or related to any property dedicated to
the City pursuant to this development. The Developer further
agrees to indemnify and hold harmless the City from any claims or
actions based directly, indirectly or in any manner on any of the
aforementioned environmental risks brought against the City by
third parties arising as a result of the dedication of portions of
the Property to the City pursuant to this development. Said
indemnification shall not extend to claims, actions or other
liability arising as a result of any hazardous substance, pollutant
or contaminant generated or deposited by the City, its agents or
representatives, upon portions of the Property dedicated to the
City pursuant to this development.
II. Special Conditions
A. Water Lines - Not Applicable
B. Sewer Lines - Not Applicable
C. Storm Drainage Lines and Appurtenances
1. The Developer and the City agree that all on -site and
off -site storm drainage improvements shall be completed by the
Developer in accordance with the approved plans prior to the
issuance of more than 16 building permits. Completion of
4
improvements shall include the certification by a licensed
professional engineer that the drainage facilities which serve this
development have been constructed in conformance with said approved
plans.
2. The Developer agrees to provide and maintain erosion
control improvements as shown on the approved utility plans to
stabilize all over -lot grading in and adjacent to this development.
The Developer shall also be required to post a security deposit in
the amount of $28,814.94 prior to beginning construction to
guarantee the proper installation and maintenance of the erosion
control measures shown on the approved Plan. Said security deposit
shall be made in accordance with the criteria set forth in the
Storm Drainage Design Criteria and Construction Standards.
3. The Developer and the City agree that the Developer
shall be responsible for the maintenance of all on -site and off -
site storm drainage facilities (including a temporary detention
pond) not located within City street rights of way.
Notwithstanding the foregoing the City agrees that it will accept
the responsibility for maintenance of a permanent detention pond
for the development that may be built in a later phase of this
development provided that such City maintenance shall not commence
until after "'Full Completion" of said permanent detention pond.
"Full Completion" of said permanent detention pond shall consist of
its design, construction, landscaping, approval of the completed
work, and its maintenance until the landscaping is established, all
in accordance with the City's Storm Drainage Design Criteria and
Construction Standards current at the time of design and
construction.
D. Streets.
1. Subject to the conditions of this Agreement, the City
agrees to reimburse the Developer for oversizing public street
improvements along Horsetooth Road for those portions of said
street abutting the Property as shown on the approved utility
plans. Reimbursement for Horsetooth Road shall be for oversizing
the street from residential standards to arterial standards. The
City shall make reimbursement to the Developer for the aforesaid
oversized street improvements in accordance with Section 24-121 of
the Code of the City. The Developer agrees and understands that
the City shall have no obligation to make reimbursement payments
for street oversizing unless funds for such payments shall first
have been budgeted and appropriated from the Street Oversizing Fund
by the City Council; and the Developer further understands that to
the extent that funds are not available for such reimbursement, the
City may not, in the absence of the Developer's agreement, require
the construction, at the Developer's expense, of any oversized
portion of streets not reasonably necessary to offset the traffic
impacts of the development. The Developer does hereby agree to
construct the aforesaid oversized street improvements with the
5
understanding that the Developer may not be fully reimbursed by the
City for the cost of such construction. The Developer further
agrees to accept payment in accordance with Section 24-121 (d) of
the Code of the City as full and final settlement and complete
accord and satisfaction of all obligations of the City to make
reimbursements to the Developer for street oversizing expenses. It
is anticipated by the City that the City's reimbursement, in
accordance with Section 24-121 (d), would not be less than fifty
percent (50%) of the Developer's actual expenses incurred and will
be calculated in accordance with the formula as set forth in
Section 24-121 (d).
2. The Developer agrees that all street improvements on
Horsetooth Road shall be completed, in accordance with the approved
utility plans, and accepted by the City prior to the issuance of
more than 16 building permits for this development.
Notwithstanding the forgoing, the Developer shall have the option
to postpone the construction of the above described improvements
required on Horsetooth Road and obtain issuance of not more than 49
building permits for this development prior to the completion of
said improvements, following the escrow of funds to be deposited
with the City in the form of cash, bond, nonexpiring letter of
credit or other form of City approved security sufficient to
guarantee completion of said improvements. The escrow amount shall
be 150% of the average of three, City approved, contractor bids for
the improvements, excluding the street oversizing portion of
improvements for which the Developer may be eligible for
reimbursement.
3. The Developer and the City agree that no building
permits shall be issued for lots 1 through 7, which all have
frontage on Horsetooth Road, until the street improvements on
Horsetooth Road have been completed with, at least, the
construction of curb, gutter and sidewalk.
III. Miscellaneous
A. The Developer agrees to provide and install, at its
expense, adequate barricades, warning signs and similar safety
devices at all construction sites within the public right-of-way
and/or other areas as deemed necessary by the Director of
Engineering in accordance with the City's "Work Area Traffic
Control Handbook" and shall not remove said safety devices until
the construction has been completed and approved by the Director of
Engineering.
B. The Developer shall, at all times, keep the public right-
of-way free from accumulation of waste material or rubbish caused
by the Developer's operation; shall remove such -rubbish no less
than weekly and; at the completion of the work, shall remove all
such waste materials, rubbish, tools, construction equipment,
machinery, and surplus materials from the public right-of-way. The
P
Developer further agrees to maintain the finished street surfaces
so that they, are free from dirt caused by the Developer's
operation. Any excessive accumulation of dirt and/or construction
materials shall be considered sufficient cause for the City to
withhold building permits and/or certificates of occupancy until
the problem is corrected to the satisfaction of the Director of
Engineering. If the Developer fails to adequately clean such
streets within two (2) days after receipt of written notice, the
City may have the streets cleaned at the Developer's expense and
the Developer shall be responsible for prompt payment of all such
costs.
C. The Developer hereby agrees that it will require its
subcontractors to cooperate with the City Is construction inspectors
by ceasing operations when winds are of sufficient velocity to
create blowincr dust which, in the inspector's opinion, is hazardous
to the public health and welfare.
D. When the inspector determines that erosion (either by wind
or water) is :Likely to be a problem, the surface area of erodible
earth material exposed at any one time shall not exceed 200,000
square feet for earthworks operations. Temporary or permanent
erosion control shall be incorporated into the development at the
earliest practicable time. - By way of explanation and without
limitation, said control may consist of seeding with approved
grasses, temporary dikes, gabions, and/or other devices.
E. The Developer shall, pursuant to the terms of this
Agreement, complete all improvements and perform all other
obligations, required herein, as such improvements or obligations
may be shown on the original plat and related documents, or any
replat as subsequently filed by the Developer, and the City may
withhold such building permits and certificates of occupancy as it
deems necessary to ensure performance hereof.
F. Nothing herein contained shall be construed as a waiver of
any requirements of the City Code, and the Developer agrees to
comply with all requirements of the same.
G. In the event the City waives any breach of this Agreement,
no such waiver shall be held or construed to be a waiver of any
subsequent breach hereof.
H. Financial obligations of the City of Fort Collins payable
after the current fiscal year and/or not appropriated or budgeted
are contingent upon funds for that purpose being appropriated,
budgeted and otherwise made available.
1. This Agreement shall run with the Property and shall be
binding upon the parties hereto, their personal representatives,
heirs, successors, grantees and assigns. It is agreed that all
improvements required pursuant to this Agreement touch and concern
7
the Property regardless of whether such improvements are located on
the Property. Assignment of interest within the meaning of this
paragraph shall specifically include, but not be limited to, a
conveyance or assignment of any portion of the Developer's real or
proprietary interest in the Property, as well as any assignment of
the Developer's rights to develop the Property under the terms and
conditions of this Agreement.
J. In the event the Developer transfers title to the Property
and is thereby divested of all equitable and legal interest in the
Property, they City hereby agrees to release said Developer from
liability under this Agreement with respect to any breach of the
terms and conditions of this Agreement occurring after the date of
any such transfer of interest. In such event, the succeeding
property owner shall be bound by the terms of this Agreement.
K. Each and every term of this Agreement shall be deemed to
be a material element hereof. In the event that either party shall
fail to perform according to the terms of this Agreement, such
party may be declared in default. In the event that a party has
been declared in default hereof, such defaulting party shall be
given written notice specifying such default and shall be allowed
a period of five (5) days within which to cure said default. In
the event the default remains uncorrected, the party declaring _
default may elect to: (a) terminate the Agreement and seek damages;
(b) Treat the Agreement as continuing and require specific
performance or; (c) avail itself of any other remedy at law or
equity.
L. In the event of the default of any of the provisions
hereof by either party which shall require the party not in default
to commence legal or equitable action against said defaulting
party, the defaulting party shall be liable to the non -defaulting
party for the non -defaulting party's reasonable attorney's fees and
costs incurred by reason of the default. Nothing herein shall be
construed to prevent or interfere with the City's rights and
remedies specified in Paragraph III.E of this Agreement.
M. The Owner is made a party to this Agreement solely for the
purpose of subjecting the Property to the covenants contained in
this Agreement. The City and the Developer expressly acknowledge
and agree that the Owner shall not be liable for any obligations of
the Developer under this Agreement, unless the Owner were to
exercise any of the rights of the Developer in which event the
obligations of the Developer shall become those of the Owner.
THE CITY OF FORT COLLINS, COLORADO,
a Municipal Corporation
By:
City Manager
8
APPROVED AS TO CONTENT:
Di e c t o r of 13ngineerl
1
APPROVT,j AS TO FORM:
cz
City Attorney
DEVELOPER:
CDL PARTNERSHIP, a Colorado
partnership
By: 2,4" ;��'
Charles M. Bet ers, Partner
OWNER:
TIMBERLINE PARTNERS LIMITED,
a Colorado Limited Partnership
BY: GB Ventures, a Colorado General
Partnership, its General Partner
By: �..� ��`✓
Gerald P. Lee, Partner