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HomeMy WebLinkAboutTIMBERLINE VILLAGE PUD - Filed OA-OTHER AGREEMENTS - 2004-03-04Timberline Apartments P.U.D. (To be known as Timberline Village P.U.D.) Amendment Agreement No. 1 THIS AGREEMENT, made and entered into this Y day of ,J 198 by and between the CITY OF FORT COLLIN,-COLORADO, a municipal corporation (City), and EVERITT ENTERPRISES, INC., a Colorado corporation (Developer), is an amendment to that certain Development Agreement dated the 23rd day of September, 1983, by and between the City and Developer. By this Agreement, the aforesaid Development Agreement is hereby amended in the following particulars: A. The following replaces paragraph 2.A.: 2.A.(i). Drainage facilities, as shown on the utility plan, shall be constructed by the Developer and approved by the City prior to the release o` more than 30 building permits. Upon completion (and accept- ance by the City) of the storm drainage facilities, the City shall make payment or other adjustments in accordance with Section 93-11 and 93-12 of the Code of the City to the Developer for the cost of engineering design and construction. It is further understood and agreed that if the applicable basin account of the Storm Drainage Fund lacks suffi- cient funds to make payment of the total amount due from the City to the Developer, the City shall pay such amount as is available and the City staff shall recommend to the City Council that appropriation be made in t9e following year's budget to pay the balance due the Devel- oper plus interest at the rate of ten percent (10%) per annum. The aforesaid interest (if approved by the City Council) with regard to the cost of engineering design and for the costs of construction, shall commence at the time the improvements are completed by the Developer and accepted by the City. The only costs to be reimbursed by the City are the actual costs of the engineering design and construction. Estimates of such costs appear in Exhibit "B", attached hereto and incorporated herein by reference. Amounts to be repaid by the City will be the actual amounts expended by the Developer and will be limited to the catagories of expenditures shown in Exhibit "B", with the exception of easement acquisition which, at the time of this amendment agreement, has been paid in full by the City to the Developer. (ii). The developer agrees to install landscaping in the detention ponds in accordance with the plans on file in the City Engineer's Office. Said landscaping shall be installed during the first growing season after all storm drainage improvements have been installed. Said landscaping shall be maintained by the Developer for a period of two (2) year<, or until construction of all public improvements is com- pleted by the Developer and approved by the City, whichever is longer. At that time, the City shall inspect the landscaping and, if acceptable to the City, shall then take over maintenance. The Developer agrees to make good faith efforts to comply with its obligations under the terms of this subparagraph. In the event, however, that the Developer is prevented from complying with these provisions pertaining to the in- stallation and/or maintenance of landscaping by reasons or conditions beyond the Developer's control, the parties hereby agree that the ob- ligations of the Developer pertaining to the landscaping may be modi- fied by subsequent mutual agreement. (iii). Upon completion of the various storm drainage improvements which are the subject of this section, and acceptance thereof by the City, the Developer shall convey, by deed of dedication, such land as is necessary for the location, maintenance and repair of the said ponds and other related improvements. B. The following is added to paragraph 2.B. The Developer agrees to participate in a multi -owner Special Improve- ment District for the improvements to Timberline Road and Drake Road. If said district is not approved by the Fort Collins City Council on or before DE+cember 31, 1985, the Developer will itself construct such portion of said roads as is required by Section 99-6.B.(6) of Fort Collins City Code, which construction shall be completed prior to December 31, 1986. Except as herein amended or modified, the Development Agreement shall continue in full force and effect. This Agreement and the Development Agreement constitutes the entire understanding of the parties. IN WITNESS WHEREOF, the parties hereto have set their hands the day and year first written. CITY OF FORT COLLINS a municipal corporation By City Ffanager f ATTEST: Eity Clerk APPROVED AS TO FORM: i pity Artorney City Engineer' EVERITT ENTERPRISES, INC." a Colorado corporation. By: Gerald R. Haxtan, President ATTEST: " (Corporate Seal �) R. Robinson Vice -President, Secretary, Treasurer