HomeMy WebLinkAboutCOVENTRY - Filed DA-DEVELOPMENT AGREEMENT - AMENDMENT ONE - 2003-07-31COVENTRY SUBDIVISION, FILING No. 1
AMENDMENT AGREEMENT NO.1
TH S ENDMENT AGREEMENT, made and entered into this
day of�, ev ► of 199��, by and between the CITY OF FORT COLLINS,
COLORADO, a municipal corporation, hereinafter referred to as the
"City"; McGRAW LAND L.L.C., a Colorado limited liability company,
hereinafter referred to as the "Developer".
WHEREAS, the City and the Developer previously executed the
Development Agreement; 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 I. General Conditions; paragraph C. of the
Development Agreement shall be deleted and replaced with the
following paragraph:
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 (including
curb, gutter and sidewalk and pavement 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 nine hundred feet (9001) from a
single point of access.
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. V
THE CITY OF FORT COLLINS, COLORADO,
a Municipal Corporation
By: QPI -
Citj, Manager
ATTEST: �9
D
CITY CLERK
APPROVED AS TO CONTENT:
Dir ctor of Engineering
APPROVE AS TO FORM:
ity Attorney
DEVELOPER:
McGraw Land L.L.C., a Colorado
limited liability company
By: :��
James Cory, Managing Member
MEMORANDUM OF UNDERSTANDING
McGRAW LAND LIMITED LIABILITY COMPANY, a Colorado limited liability
company ("the Developer"), is the developer of certain real property located in the City of Fort
Collins known as the Coventry Sub Iivision ("the
Subdivision"). The City has approved an
Erosion Control Plan dated ,Sty �; �� ���Y� , ("the Plan"), for the Subdivision
and, pursuant to Section 2.2 the City's Storm Drainage Design Criteria ("the Criteria"), the
City has agreed to accept a cash escrow in the amount of Twenty Nine Thousand Two Hundred
Twenty and No/100 Dollars ($29,220.00) ("the Cash Escrow") from the Developer to guarantee
the proper installation and maintenance of the erosion control measures shown on the Plan and
described in the Criteria. The Cash Escrow has been received by the City.
If, at any time, the Developer fails to abide by the provisions of the Plan or the Criteria,
the City may enter upon the premises described in the Subdivision for the purpose of making
such improvements and undertaking such activities as may be necessary to ensure that the
provisions of the Plan and the Criteria are properly enforced. The City may apply such portion
of the Cash Escrow as may be necessary to pay all costs incurred by the City in undertaking the
administration, construction and/or installation of the erosion control measures required by the
Plan and the Criteria.
Upon acceptance by the City of the initial installation of the erosion control measures
required by the Plan and the Criteria, the Cash Escrow shall be reduced to twenty-five percent
(25%) of the actual cost of such measures. The balance of the Cash Escrow shall be held by the
City to guarantee the continued maintenance and replacement of such measures for a period not
to exceed two (2) years from the date of installation of the erosion control measures. Upon the
expiration of said two (2) year period, or the date of certification by the City that the required
measures have been fully completed and maintained in accordance with the Plan, whichever
occurs first, the ba'iance of the Cash Escrow shall be refunded to the Developer and the right of
access granted to the City under this Memorandum of Understanding shall be of no further force
and effect. Until such time, the rights of the parties under this Memorandum of Understanding
shall run with the Subdivision and be binding upon any subsequent owner thereof, as well as any
assignee in interest of the Developer.
Dated this day of e . � , . , 1994.
DEVELOPER:
McGRAW LAND LIMITED LIABILITY
COMPANY, a Colorado limited
liability company
By: �-- —
lamesLcbory
Managing Member
THE CITY OF FORT COLLINS,
COLORADO, a municipal corporation
By: VMie
erzig, D pment
Engineering Manager