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HomeMy WebLinkAboutTELEDYNE AQUA TEC - Filed DA-DEVELOPMENT AGREEMENT - 2003-09-15AGREEMENT THIS AGREEMENT is made and entered into this el day of , A.D. 1975, by and between THE CITY OF FORT COLLINS, CCCOLORADO, a municipal corporation, hereinafter some- times designated as the "City", and TELEDYNE AQUA TEC CORPORATION, hereinafter designated as the "Owner", WITNESSETH: WHEREAS, Owner is the owner of certain property situate in the City of Fort Collins, Colorado, more particularly described on the plat of the Aqua Tec Subdivision on file in the office of the City Engineer; and WHEREAS, Owner desires to develop said property as an industrial subdivision in accordance with the plat of the Aqua /dated August 15, 1974 Tec Subdivision; and WHEREAS, Owner has further submitted to the City a Utitily Plan for said lands which is also on file in the office /and approved September 27, 1974 of the City Engineer; and WHEREAS, the parties hereto have agreed that the development of said lands 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's Planning and Zoning Board has approved the master plan submitted by the Owner subject to certain requirements and conditions which involve the installa- tion of and construction of utilities and other municipal improvements in connection with said lands. NOW, THEREFORE, in consideration of the premises and the terms and conditions herein stated and for other valuable consideration, the adequacy of which is acknowledged by the parties hereto, it is agreed as follows: 1. The City hereby approves the plat of Aqua Tec /dated August 15, 1974, Subdivision submitted by the Owner and agrees that a building permit may issue for construction of improvements on said subdivision. 2. Except as otherwise herein specifically agreed, the Owner agrees to install and pay for all utility lines, storm drainage facilities, streets and other municipal facilities necessary to serve the lands encompassed by the Aqua Tec Sub- division, such lines, streets and facilities being more particu- larly shown on the Utility Plan heretofore filed with the City Engineer, and approved September 27, 1974. 3. Water Lines. a. Owner agrees to pay to the City the sum of $1,279.10, representing Owner's share of said line which was installed by a third party under a participation agreement with City. Such amount shall be paid forthwith. -2- b. Owner agrees to install and pay for a water main in Riverside Drive adjoining Owner's property as shown on the plan for Water Line Improvement District #6. Said line shall be installed as a part of such district and payment of Owner's share shall be made through assessments to be made in such district. In the event said district is not completed and the line installed within three months from the date hereof, then Owner shall have the obligation of installing such main within twelve months thereafter. Further, in such event, the City shall reimburse Owner for oversize cost in accordance with the City's ordinance as now in effect. C. owner understands and agrees that no certificate of occupancy for any structure in the subdivision shall be issued by the City until the fire hydrant serving such structure is installed and accepted by the City, or equivalent fire protection measures are approved by the City. d. The installation of said line shall be inspected by the Community Development Department of the City and shall be subject to such department's approval. Owner agrees to correct any deficiencies in such installation in order to meet the requirements of the plans and the specifications applicable to such installation. In the event such installation is not completed and approved within the time set forth above, the City shall have the right to cause such additional work to be done as it deems necessary to complete the installation in a -3- satisfactory manner, and the Owner shall be liable for the costs of such additional work. 4. :unitary Sewer Collection Lines. a. The Owner agrees to install all sanitary sewer collection lanes shown on the Utility Plan. b. Such sanitary sewer lines shall be installed in full compliance with the standard specifications of the City on file in the office of the City Engineer relating to the installation of such lines. 5. Electric Lines and Facilities. The City Light and Power Department shall install all electric distribution lines and facilities required for the subject property, and Owner shall pay for such work in accordance with the established charges of the Light and Power Department. Such installation shall include all street lights required for the development. 6. Storm Sewer Lines and Facilities. a. Owner shall construct permanent storm sewer retention facilities on the property as shown on the Utility Plan and shall dedicate a permanent easement for such storm sewer retention to the City. The parties agree that it may be desirable to construct a temporary retention facility in one location at this time and thereafter to replace such retention facility with another retention facility on site. The City agrees that it will permit such replacement and will vacate the temporary storm sewer retention facility at the Owner's -4- request if the Owner provides other adequate retention facility to replace the same. b. Owner agrees to participate in proposed Storm Sewer Improvement District #16 now being formed by the City. 7. Streets. a. The Owner agrees to construct street improvements on Prospect Street and Riverside Drive adjoining Owner's property as shown on the plan for Street Improvement District #69. Such improvements shall actually be installed by the City as part of such district and payment of owner's share shall be by paying assessments made in such district. b. All Owner's parking on street right-of-way on Prospect Street shall be removed by Owner. This agreement shall be binding upon the parties hereto, their representatives, successors and assigns. IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be signed the day and year first hereinabove written. ATTES City Clerk APPRTD : Devel ent Dep4Vtment Cite THE CITY OF FORT COLLINS, COLORADO By 'kq 4,J i iy / City Manager TELEDYNE/AQUA TEC CORPORATION By -5-