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HomeMy WebLinkAboutLOCUST GROVE THIRD - Filed OA-OTHER AGREEMENTS - 2003-12-12AGREEMENT (WITH ESCROW INSTRUCTIONS) THIS AGREEMENT, made this day of February, A.D. 1972, by and between THE CITY OF FORT COLLINS, STATE OF COLORADO, hereinafter for convenience referred to as "CITY", and JUNGMEYER ENTERPRISES, INC., a Maryland corporation lawfully dcing business in the State of Colorado, City of Fort Collins, WITNESSETH: WHE:REAS,JUNGMEYER ENTERPRISES, INC., is engaged in the business of the acquisition of real property in and around the Fort Collins, Colorado, area, and the subdivision and development of such property into residential areas; and WHEREAS, JUNGMEYER ENTERPRISES, INC., is the owner of certain real property situate in the City of Fort Collins, County of Larimer, State of Colorado, being known as Locust Grove, Third Filing, according to Plat approved and filed in the Larimer County records; and WHEREAS, the Plat of Locust Grove, Third Filing, dedicates and conveys to and for the use of the public, forever, the streets as are designated thereon, but excepts from such conveyance and dedication a one -foot strip of land along the East and the Northeast side of that particular street designated on said Plat as Locust Grove Drive, which said one -foot strip begins at the Southeast corner of West Mulberry Street and Locust Grove Drive and runs thence South 000 50' East approximately 132 feet along the East side of said Lo- cust Grove Drive, and runs thence South 70' 06' East 71.97 feet, and thence South 74' 02' East 151.20 feet, and thence South 450 45' East 60.93 feet, as more fully shown and designated on the Plat of Locust Grove, Third Filing; as more fully shown, set forth and designated on the Plat of Locust Grove, Third Filing; and WHEREAS, the one -foot strip as shown on the Plat of Locust Grove, Third Filing, was not, and has not been, conveyed and dedicated to public use so that JUNGMEYER ENTERPRISES, INC., would have the opportunity, at some later date, to make mutually satisfactory arrange- ments with the owners of the real property on the East and Northeast side of Locust Grove Drive for use by said owners and occupiers of said property of said Locust Grove Drive, and reimbursement for such use to JUNGMEYER ENTERPRISES, INC., by said owners of a fair and equitable part of the cost incurred by JUNGMEYER ENTERPRISES, INC., in the construction of Locust Grove Drive; and WHEREAS, the CITY is agreeable to allowing JUNGMEYER ENTER- PRISES, INC.,, to not at this time so dedicate the said one -foot strip to public use, but conditions this agreement upon a requirement that JUNGMEYER ENTERPRISES, INC., hold itself ready at all times to dedi- cate and convey said one -foot strip to and for public use forever at any time, upon the request of the CITY for such dedication and convey- ance, for any reason whatsoever; NGW THEREFORE, for and in consideration of the mutual pro- mises and agreements made by the parties hereto, each to the other, and for othergood and valuable consideration, the parties agree as follows: 1. The CITY will not require JUNGMEYER ENTERPRISES, INC., to dedicate and convey to and for public use the herein referenced one -foot strip on Locust Grove Drive, and will not withhold approval of the Plat of said subdivision, which includes a statement of owner- ship, subdivision, dedication and declaration of protective covenants, because of non -dedication of said strip. However, the CITY requires, and JUNGMEYER ENTERPRISES, INC., agrees, that JUNGMEYER ENTERPRISES, INC., hold itself ready and able to dedicate and convey to and for public use forever said one -foot strip at any time that the CITY should so require, for any reason whatsoever. In this regard, JUNG- MEYER ENTERPRISES, INC., has executed contemporaneously with the making of this agreement its statement of ownership and dedication pertain- ing to said one -foot strip. The parties agree that such statement of ownership and dedication shall be placed and 'held in escrow by the law firm of MARCH, MARCH and SULLIVAN, Fort Collins, Colorado, and that the said firm, as escrow agent, shall keep and hold said statement of ownership and dedication unless and until such time as the CITY shall request the escrow agent to deliver over to it the document or to take such other steps as the CITY shall request. -2- A COPY OF THIS AGREEMENT, executed by the parties hereto, shall be provided the escrow agent, and shall serve as escrow instruc- tions. THIS AGREEMENT shall be binding upon the heirs, personal representatives, successors in interest, and assigns of the parties hereto. IN WITNESS WHEREOF, the parties have set their hands and seals on the day and year first above written. THE CITY OF FORT COLLINS By ATTEST: JUNGMEYER ENTERPRISES, INC. i B y Secretary President APPROVED: MARCH, MARCH AND SULLIVAN, Escrow Agent By -n- D040RANDU14 OF AGREEMENT THIS AGREFi4FSIT, made and entered into this day of i A. D. 19 %` , by and bewtween THE CITY OF FORT COLLINS, a municipal corporation, hereinafter designated as first party, and ic.scce V. And,;rscn. 'dvelyn °. Anderson, Larry F. Jordan and Collen A. Jordan, Hereiiaafter designated as second party, UIITN'ESSETH: VJHERFiS, second party has heretofore submitted a subdivision plat of the subdivision to be known as Locust Grove Subdivision, Third Filing For approval by the Municipal Planning and Zoning Board and the City Council of the City of Fort Collins, and WHERUIS, said subdivision plat is acceptable to first party and first partyts Planning and Zoning Board, subject to construction of utilities in the area to be subdivided, NG6d, THEREFORE, in consideration of the premises and the terms of this agreement, it is mutually agreed as follows: 1. First party agrees that said subdivision plat shall be, and the same is hereby approved. 2. .In consideration of the approval of said plat by first party, and first partyts Planning and Zoning Board, second party agrees as follows: (A) To submit to first party the following detailed improvement plans, acceptable to the first party: (1) A plan of the proposed water distribution system including the connecting pipelines to the points of connection to the first partyts existing water distribution system and showing all valves and fire hydrants. (2) Plans and profiles of the proposed sanitary serer system including all manholes and connections to the first partyts existing sanitary sewer system. (3) A plan of the proposed electrical distribution system including connecting lines to the first partyts existing electrical distribution system and including all street lights. (4) Plans and profiles of all street improvements. (5) Plans and profiles of the proposed street drainage system showing the connections to the first partyts storm sewer system and including all storm sewer islets and manholes. if a storm sewer out_all like is not available, second party agrees to join into a special improve - Mont district for too installation of such outfall line upon request therefor by first party and to sign any petition and perform any other act necessary to form such district. (0) Items A (1) to A (S) inclusive are to be financed by the party of the second hart, excepting only Item (S) electrical distribution system. All material rccuired for street li hts are to be paid for by the party of the second part to the Light d Power Department of the City. In the event the City of Fort Collins shall require larger wator, Trains, sanitary sewer mains or storm sewer mains to be constructed within the subdivision than Mould be required by standard engineering practices to serve the subdivision, in order to properly extend these services to other areas, the City of Fort Collins will pay a portion of the cost of such enlarged facility based on proration of the cost of the facility actually constructed and the estimated cost of such facility as shown on the sub - divider's approved plan. Such proration of costs between the City of Fort Collins and the subdivider shall be determined in advance of construction by tale City Engineer and in one event of any dispute this matter shall be submitted to the City Council for final determination. IS WITNESS l' EREOF, first party has caused these presents to be lived by its Nvor and its corporate seal to be hereto affixed attest to hy its City Clerk, pursuant to motion of toe Council of the City of Fort Collins dated wo `. 'd dayof A.D., i9 and second party has hereto set his hand and seal the day and year first hereinabove written. THE CITY OF FO;T COLLINS A Municipal ,Corporation 3y AT:EST: .Mayo r First Party City Clerk u_ APP;iov;:D: < < _ l (SEAL) Second P rty I City Engineer