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Home My WebLink AboutCARIBOU - Filed OA-OTHER AGREEMENTS - 2009-07-17TERMINATION AND RELEASE AGREEMENT THIS TERMINATION AND RELEASE AGREEMENT (the "Agreement") is dated May 3, 2007, for reference purposes and is between FC CARIBOU LP, a Colorado limited partnership (the "Owner"), and CITY OF FORT COLLINS, COLORADO (the "City"). The City and the Owner are sometimes individually referred to herein as a "Party" and collectively as the "Parties." RECITALS: A. The Owner is the owner of the real property (the "Property") that is more particularly described in Exhibit A attached hereto. The Owner is in the process of platting the Property as Caribou Subdivision. B. In connection with the platting of the Property, the Parties have agreed that the following exceptions to title (individually, a "Title Matter" and, collectively, the "Title Matters") that are presently of record should be terminated and released and no longer constitute a lien upon or otherwise affect title to the Property: 1. Agreement between J. Thomas Chandler and the City that was recorded May 10, 1990, at Reception No. 90019708 of the real estate records of the Clerk and Recorder of Larimer County, Colorado. 2. Site and Landscape Covenants for Novovesky Garden Shop P.U.D. that were recorded in the records of the Larimer County, Colorado Clerk and Recorder on December 8, 1995, at Reception No. 95078469 and a Notice recorded in the records of the Larimer County, Colorado Clerk and Recorder on December 8, 1995, at Reception No. 95078467. The purpose of this Agreement is to set forth the Parties' agreement and understanding that the Title Matters no longer affect any portion of the Property and that title to the Property will pass free and clear of the Title Matters. COVENANTS: FOR GOOD AND VALUABLE MUTUAL CONSIDERATION, the receipt and sufficiency of which are hereby acknowledged, the Parties hereto agree as follows: 1. Termination of Title Matters. The Parties agree that (a) the Title Matters have been terminated and released, (b) none of the Title Matters affects title to the Property, and (c) subsequent parties may acquire and hold title to the Property free and clear of the Title Matters. 2. Novovesky Garden Shop P.U.D. The Parties agree that the Novovesky Garden Shop P.U.D. has expired and is void pursuant to Division 2.2 of The Fort Collins Land Use Code. H:\Marc Hendricks\Marc\1-Caribou\Termination Agreement 05 01 07.doc -I- 7 3. Construction. The Recitals to this Agreement will, to the extent appropriate, be interpreted as _covenants of the Parties. Captions to paragraphs are for convenience and reference purposes only and will not affect the construction of the meaning of the terms and provisions of this Agreement. Whenever the context requires or permits, the singular will include the plural, the plural will include the singular, and the masculine, feminine, and neuter will be freely interchangeable. 4. Severability of Terms of Agreement. All terms and conditions of this Agreement will be deemed severable. Should any one or more of the terms and conditions hereof be deemed void or unenforceable, then (a) the remaining provisions will have full force and effect and (b) those provisions deemed void or unenforceable will be interpreted, to the extent possible, so as to render such provisions enforceable and in a way consistent with the original intent of the Parties. 5. Successors and Assigns. This Agreement will be binding upon and inure to the benefit of the Parties hereto, their representatives, successors, and assigns. 6. Governing Law. This Agreement will be governed by and construed in accordance with the laws of the State of Colorado. [THE REST OF THIS PAGE INTENTIONALLY LEFT BLANK] H:\Marc Hendricks\Marc\1-Caribou\Termination Agreement 05 01 07.doc -2- THIS TERMINATION AGREEMENT has been executed and delivered by the Parties as of the dates set forth below. Date: J v 1 wo STATE OF COLORADO CITY AND COUNTY OF DENVER) FC CARIBOU L.P. a Colorado limited partnership Timberline & Caribou LLC, a Colorado limited liability company, General Partner z] By: J. Nfarc en c , Manager ss. The foregoing instrument was acknowledged before me this dayof 2007, by J. Marc Hendricks, Manager of Timberline & Caribou LLC, a Colorado limited liabil' company, General Partner of FC Caribou L.P., a Colorado limited partnership. Witness my hand anI official seal. (Notarial Seal) Notary Public 11 My commission expires: H:\Marc Hendricks\Marc\I-Caribou\Termination Agreement 05 01 07.dac -3- THE CITY OF FORT COLLINS, COLORADO, a municipal corporation} Date: V VS� ,� -zoo;-- STATEBy: L OF COLORADO ) ss. CITY AND COUNTY OF DENVER) ThWrego,ument was acicrlo led ed before me this dayof 2007, by, hf�% as (ilof the City o� Collins, Colorado, a municip corporation. ��p10f oil 0.y0 Witne y and and official seal. O�•' i� � 18ij ••�`�A. (No Seal) otary ub b1 0� My commissio fires: `✓ 0 F01171 Deputy City Atiamey ATTEST: , nRT Cn, City Clerk H:\Marc Hendricks\Marc\1-Caribou\Termination Agreement 05 01 07.doc -4- EXHIBIT A The following described real property located in the County of Larimer, State of Colorado: Tract A and Tract A, Collindale Business Park Fifth Filing as recorded in Larimer County Records under Reception go. 9507846E on December 8, 1995, Lot. One (1), Collindale Business Park Fourth Filing as recorded in Larimer County Records under Reception No. 9404SS30 on May 26, 1994 and a parcel of land, all being a part of the Southeast Quarter (SE1/4) of Section Thirty-one (31), Township Seven North (T.7N.), Range sixty-eight West (R.60W.), Sixth Principal Meridian (6thP.M.), City of Fort Collins, County of Larimer, State of Colorado and being more particularly described as follows; COMMENCING at the East Quarter (Ei/4) Corner of said Section 31 and assuming the East line of said S31/4 as bearing South 000001490 East, being a Grid Bearing of the Colorado State Plane Coordinate System, North,Zone, North American Datum 1983/92, a distance of 2657.43 feet with all other bearings contained herein relative theretot THENCE Routh 00•00'49w East along said Bast line a distance of 39.38 feet; THENCE South 89.59.11• Nest a distance of 50.00 feet to the West Right of Nay (ROW) of Timberline Road, said point being the POINT OF BEaINNINa, THENCE South 00000,49• East along said West ROW a distance of 649.91 feet; THENCE South 57004144w East a distance of 23.83 feet to a point being 30.00 feet Nest, measured at right angles, of the East .line of said SEi/4; THENCE South 00000/49 East along said line a distance of 169.21 feet to a point on the North line of Lot 1, Plat Of The Timberline Wetland as Recorded in Larimer County Records under Reception No. 91035433 on July 31, 19911 Thence along said Lot 1 the following three courses and distancest THENCE North 74006114• Nest a distance of 294.53 feet; THENCE North 630S7115* Nest a distance of 279.45 feet; THENCE North 76058/430 Nest a distance of 132.55 feet to the East line of Lot 1, Timberline Storage P.U.D., Second Filing as recorded in Larimer County Records under Reception No. 96041452 on June 12, 1996; THENCE North 00003,441 Nest along said Bast line a distance of 613.27 feet to the South RON of Caribou Roads THENCE North 89°56157" East along said South RON a distance of 620.93 feet to a Point of Curvature (PC); THENCE along the Are of a curve which is concave to the Southwest a distance of 23.57 feet, whose Radius is 15.00 feet, whose Delta is 90902114/1 and whose Lang Chord bears South 450101'S6" Bast a distance of 21.22 feet to the POINT OF BEGINNING. H:\Marc Hendricks\Marc\1-Caribou\Termination Agreement 05 01 07.dac WE