Loading...
HomeMy WebLinkAboutLOFTS AT CAMPUS WEST (THE) - PDP/FDP - 28-97 - SUBMITTAL DOCUMENTS - ROUND 1 -IN WITNESS WHEREOF, the Grantors have executed this�Grant of Easement the day and year first above written. STATE OF COLORADO ss. COUNTY OF LARIMER ROBERT L. KRUMVIEDA ELIZABETH CENTER CO., LLP, a limited liability partnership BY: RLK CO., a general partnership, its General Partner BY: General Partner BY• EUGENE C. KRUMVIEDA, its General Partner BY: C. E. KRUMVIEDA CO., a general partnership, its General Partner BY: General Partner The foregoing instrument was subscribed, sworn to, and:: acknowledged before me this day of August, 1997, by ROBERT,T, L. KRUMVIEDA. Witness my hand and official seal. My commission expires: 2 Notary Public EXHIBIT "F." GRANT OF EASEMENT THIS GRANT OF EASEMENT is made and entered into this day of August, 1997, by and between ELIZABETH CENTER CO., LLP, a limited liability partnership, and ROBERT L. KRUMVIEDA, whose address for purposes of this Agreement is 1108 Birdie Road, Broomfield, CO 8002.0 ("the Grantors"), and JEFFERY M. DONALDSON and JOHN M: DONALDSON, whose address for purposes of this Agreement'i's 4529 South Stover Street, Fort Collins, CO 80525 ("the Grantees" WITNESSETH: WHEREAS, the Grantees are the owners of the real property situated in the County of Larimer, State of Colorado, legally described on Exhibit "'All n attached hereto and incorporated hereinby reference ("the Grantees' Property"). WHEREAS, the Grantors are willing to grant to the Grantees a nonexclusive, perpetual drainage easement over, across, and upon, the property which is described on Exhibit "B" attached hereto and. incorporated herein by reference ("the Drainage Easement"). NOW, THEREFORE, for good and valuable consideration, the. . receipt and adequacy of which are hereby confessed and acknowl '..', edged, the, Grantors have granted, bargained, sold, and conveyed,. and by_these, presents do hereby grant, bargain, sell, convey, and. confirm unto the Grantees, their heirs, personal representatives.,' and assigns, forever, the Drainage Easement. The Grantees shall have the right, at their sole expense, -to;' construct, install, maintain, repair, and improve drains e_ facilities and systems under, upon, or over the Drainage Easement to drain surface runoff from the Grantees' Property. Use of the Drainage Easement is not confined to present uses of the Grantees' Property. In the event the Grantees' Property is subsequently divided into two or more parcels by separation of ownership or by lease, then all such parcels shall enjoy the benefits of the Drainage Easement. The benefits and burdens of the Drainage Easement shall run with the Grantees' Property and shall be binding upon and inure to. the benefit of the parties hereto and their respective heirs, personal representatives, successors,. and assigns. 6. EXHIBIT "E" DRAINAGE PLAN 5 1 E v `°° 1 J N J Uw WEST CA'n'ON! s.eEmW PATTUAwaEUEur THE SEAR -BROWN GROUP �•;•�"�'",' ,• _._x,:: ; ann.r.r 'Rn[ — COMLEPNAI IEVEl ORAgAGE OEEY,N_- `:x DAM e. EXHIBIT "D" Building Orientation (A,B,C,D,E) and Traffic Flow Mao (===1 n. 1 v c�u of V41T COW" m - T. m r Ty �000lr � I? O 11 +r111AL LEM OALNA01 DC3W E REAR-BROWN AR-BROWN CROUP_—_-- ..U-.w.- II..IY. EXHIBIT lic it Additional Terms After receipt by the Sellers of the principal payment due December 30, 1998, the Buyers shall have the right to receive from the Sellers a partial release covering any portion of the Property extending the full distance from the south property line to the north property line, which portion shall equal in area no more than one-half the total area of the Property. Parcels to be released shall be shown on a subdivision plat or P.,U.D. plan of the Property approved by the City of Fort Collins or shall be shown on a survey of the Property. The Buyers shall have the right to obtain releases of parcels of the Property only if the Buyers are current in the payment of the Promissory Note at the time the release is requested. The Sellers shall be obligated to release individual parcels only if the land remaining encumbered by the Deed of Trust has access to City Park Avenue. SEAR -OWN Exhibit "B - Page 2 of.2 Drainage Ease it CAMPUS WEST SHOPPING CENTER POINT OF 17.99REMAINDER / LOT 4 BEGINNING S3038'52"E EAST LINE. TOWN SQUARE SUB. ------ --=-- - II"V1i--- �58.�1 N 00'04' 43" W cf) V1 z ,� Z_ 0 � o z Lo O 0 ZQ TOWN SQUARE SUB. U � po o Ci w 22.31' N30'38'52"W ,111'16' 2Ar, 16.39 N00'00'00"E 4.88' Z Z' j o 0 0 N raj d On M V)i 000 SCALE 1'=40' z � 0 40 eo ceo 160 N00'26'00"E 10.00' - - -16-1997 RAN CST-1192-0472 H w m IT- V V) w j O ; 0 �— W �0� m zz',Q om N CL�O . J o0. W 0 0 U w N W � Li dl I I dy C Lud mclllC Exhibit "B" - PE 1 of 2 fTHE SEAR -BROWN GROUP FULL -SERVICE DESIGN PROFESSIONALS FORMERLY RBD, INC. 209 SOUTH MELDRUM FORT COLLINS. COLORADO 80521.2603 970-482-5922 FAX:976-482-6368 DESCRIPTION: WEST An drainage easement located in the Plat of Town Square, situated in part of the Southeast Quarter of the Northeast Quarter of Section 15, Township 7 North, Range 69 West of the 6th Principal Meridian, City of Fort Collins, Larimer County, Colorado, being more particularly described as follows: Considering the East line of the Said Town Square Subdivision•.as - bearing North 00000'00" East with all bearings contained heran• relative thereto:' Commencing.at the :Southeast corner of Said Town Square Subdivision,,, thence, North 000001001' East, along said East line, 4.'88 feet;>�to.' the POINT OF BEGINNING; thence, North 1101612411 West, 16.39 ,fedt4%-*~. thence, North 0000414311 West, 228.66 feet; thence, North 3003'81''S2Iil;':� West, 22.31 feet; thence, North 89034100" West, 154.92 .feet;;;..`. thence, North 00026100" East, 10.00 feet to the Southwest Corner,of;';~:•.N Town Square Condominiums; thence, South 89034100" East, feet; thence, South 30038152" East, 17.99 feet to a point onrlsaid:.. East line Town Square Subdivision; thence, South 00000' 00'1":': along said East line 258.41 feet to the POINT OF BEGINNING. The above described easement contains 0.059 acres more or less,•and;; ? is subject to all easements and rights -of -way now on record5.or`. existing. 782001.wpd 6-16-97 RAN NEW YORK•PENNSYLVANIA COLORADO•UTAH STANDARDS IN EXCELLENCE EOUAL OPPORTUNITY EMPLOYER EXHIBIT "A" Legal Description of the Propertv A tract of land situate in the SE 1/4 of the NE 1/4 of Section 15, Township 7 North, Range 69 West of the 6th P.M., Fort Collins, Colorado, which considering the South line of the said NE 1/4•as' bearing N 89034' W, and with all bearings contained herein relative thereto, is contained within the boundary lines which begin a,t'.,,:a point which bears N 89034' W 1016.96 feet, and again North 359.,7=0 feet from the Southeast corner of the said NE 1/4, and run thence N 89034' W 282.63 feet to a point on the East line of City Park Avenue; thence N''000031' W 134.82 feet along the East line of Cikty Park Avenue; thence S 89034" E 282.74 feet; thence East 117.f0.0 feet; thence South 135.70 feet; thence N 89034" W 117.00 feet to the point of beginning. Also known as 816 City Park Avenue, Fort Collins, Colorado. premium shall be paid in its entirety by the Sell- ers at closing. (g) Town Square currently has an architectural control committee to control the architectural elevation of commercial buildings. The Buyers will construct multi -family dwellings and, therefore, shall not be subject to the guidelines of the architectural control committee. 13. Binding Effect. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective h'eIrs, personal representatives, successors, 'and assigns, IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the .day and year first above writ' srGa%✓Y4 ROBERT L. KRUMVIEDAI Seller ;ELhZABETH CENTER CO., LLP, a°limited liability partnership, Seller JE Y M. DONALDSON, Buyer .+wFlly M. LUNALDSON, Buyer BY: RLK CO., a general partnership, its General Partner BY : 6ii General glaf BY;7 EU(.ENE L'. KRUMVIEDA, its General Partner BY: C. E. KRUMVIEDA CO., a general partnership, its General rtner General Partner 7 I (d) The Buyers and Sellers have agreed upon a prelimi- nary drainage plan as set forth in Exhibit "E" attached to this Agreement and incorporated herein by reference. Buyers shall submit a final drainage plan to the City of Fort Collins for its.approval. The final drainage plan shall comply with the City of Fort Collins storm water ordinances and require- ments and shall be engineered' designed, and con- structed to perform in accordance 'with the require- ments of a 100-year flood. The preliminary drain- age plan shall be replaced by the Buyers' final drainage plan, which shall be delivered to the Sellers at, the time of closing or as soon thereaf- ter as the final drainage plan is approved by the City of Fort Collins. Buyers: shall 'implement the final drainage plan in the tdeVe1ojpnient of the Property. Sellers shall grant a drainage easement as set forth on Exhibit "F" attached hereto. Buyers shall pay for, construct, and maintain a drainage parr within this easement which is located north and east of Town Square Shopping Center. The drainage pan shall be constructed prior to the commencement of building construction. (e) The Deed of Trust shall contain the following provisions with regard to partial releases: After receipt by the Sellers of the principal payment due December 30, 1998,.the Buyers shall have the right to receive from the Sellers' a. partial release covering any portion of the Property::extending the full distance from the south property line to the north property line, which portion .shall equal in area no more than one-half the total area of the. Property. Parcels to be released shall be shown on a subdivision plat or P.U.D. plan of the Property approved by the City of Fort Collins or shall be shown on a survey of the Property. The Buyers shall have the right to obtain releases of parcels of the Property only if the Buyers are current in the payment of the Promissory Note at the time the release is requested. The Sellers shall be obli- gated to release individual parcels only if the land remaining encumbered by the Deed of Trust has access to City Park Avenue. (f) The Sellers have furnished to Buyers, at Sellers' expense, a current commitment for an owner's title insurance policy in amount equal to the purchase price. As indicated in the commitment, the antici- pated premium shall include SI - Mortgage Policy - CONV, owner's policy, and tax certificate. The n in such litigation. In the event of default by the Buyers, the Buyers shall deliver to the Sellers all engineering and architec- tural plans and specifications which have been prepared in accordance with this development. 9. Modification of Agreement. No subsequent modification of any of the terms of this Agreement shall be valid; binding upon the parties, or enforceable unless made in writing and signed by both parties. 10. Entire Agreement. This Agreement constitutes the entire agreement between the parties relating to the subject hereof, and any prior agreements pertaining thereto, whether oral or written, have been merged and integrated into this Agreement. 11. Nonassignable. This Agreement may not be assigned by the Buyers without the prior written consent of the Sellers. 12. Additional Provisions. (a) The Buyers shall have the right to have a Phase I and, if necessary, Phase II environmental audit of the Property performed. The Buyers and their agents shall have the right to enter upon the Property to perform such an audit. The Buyers shall pay the cost of the audit and shall indemnify the Sellers against any liability resulting from the performance of the environmental audit. (b) The Buyers shall have the right, at their expense, to have the Property. surveyed by a licensed land surveyor or engineer. The survey shall indicate that it is for the benefit of the Buyers. The survey shall indicate the number of gross square feet contained within the Property. The purchase price shall be an amount equal to Three Dollars ($3) per gross square foot as determined by the survey. (c) The Buyers shall have the right to submit a subdi- vision plat or amended P.U.D. plan for the Property to develop the Property as thirty (30)'multi-family units. The Sellers shall cooperate with the Buyers to obtain approval of such a subdivision plat or amended P.U.D. plan and shall execute any and all documents reasonably required by the City of Fort C' Collins in connection with such approval. The existing traffic circulation plan for Town Square P.U.D. shall not be changed by any subdivision plat or amended P.U.D. plan without the consent of the Sellers, which consent shall not be unreasonably withheld. 5 ment, and the striping, lining, and arrowing of asphalt surfaces. (4) Maintenance of retaining walls and perimeter fences in good condition and repair. (5) Maintenance of all landscaped areas; including reasonable irrigation, and the general mainte- nance of all vegetation thereof. The parties may construct, install, and maintain retaining walls and traffic control islands and structures, fences, and landscaping..on and between their respective properties reasonably designed to control and direct traffic or to buffer and define property lines so long as they do not impede the efficient flow of traffic or parking of vehicles nor interfere with the integrated and cooperative use by all persons legally entitled to use the respective elements. Each party shall have the right to promulgate and enforce reasonable rules and regulations governing. the use and operation of its property subject to these easements and shall cooperate' and work to- gether in such promulgation and enforcement such that the purpose of compatible and integrated use of the respective properties is fulfilled to the extent reasonably possible. 6. Closing Costs. The Buyers and Sellers shall each pay one-half of the closing fee charged by the title insurance company, not to exceed Two Hundred Dollars ($200). The Buyers shall. pay the documentary fee. Taxes shall be prorated to the date of closing 'based upon taxes for the year 1996 and shall be a final settlement between the parties. 7. Possession. Possession of the Property shall be delivered to the Buyers at the time of.closing.. 8. Remedies Upon Default. Time is of the essence hereof. If the Buyers are in default, the Earnest Money Deposit shall be forfeited by the Buyers and retained by the Sellers and both parties shall thereafter be released from all obligations hereun- der. It is agreed that the Earnest Money Deposit is liquidated damages and the Sellers, sole and only remedy for the Buyers" failure to perform the obligations of this Agreement. The Sellers expressly waive the remedies of specific performance and additional damages. If the Sellers are in default, the Buyers shall have the right to an action for specific performance. In the event of any litigation arising out of this Agreement, the prevailing party shall be awarded all costs and reasonable attorneys fees incurred 4 (d) Mutual and reciprocal easements regarding bicycle and vehicle parking on the Property in substantial- ly the following form: Each of the Buyers and Sellers, for them- selves, their successors, assigns, employees, tenants, residents, contractors, and guests, do by these presents, grant unto the other, their successors, assigns, employees, tenants, residents, contractors, and guests, the per- petual right and easement to park on the property of the other so reserved therefor any currently licensed bicycle or motor vehicle, provided that any such vehicle shall not exceed six thousand five hundred (6,500) Pounds gross vehicle weight and for periods of time not to exceed forty-eight (48) hours at any one time. (e) An easement for possible encroachment of Sellers, Town square Shopping Center Building C upon or over the Property. (f) An easement of approximately four hundred (400) square feet in the southeast corner of the Property for Sellers, trash dumpsters. (g) The parties shall maintain in good condition and repair; or cause to be so maintained and repaired, their respective properties which are subject to these easements in such a manner as to reasonably carry out the object and purpose of the easements, which duty shall include, by way of illustration and not limitation, the following: (1) Maintenance of all asphalt and concrete sur- faces at such grades and levels that they may be used and enjoyed as integrated and homoge- neous common areas; in a 'level, smooth, and evenly covered condition, free of breaks, cracks, and defects which may impair their use, and with materials of good quality and durability. (2) The prompt removal of all dirt, debris, re- fuse, ice, and snow, as may be reasonably necessary to keep the areas in a neat, clean, usable, and safe condition. (3) Erection, replacement, and maintenance as may be reasonably necessary .of all directional signs and lighting installations and equip- 3 3. Title. The Buyers have received a title insurance commitment issued by Security Title Guaranty Co. dated June 27, 1997, Commitment No. F039477A97 ("the Commitment"). The Buyers have reviewed the Commitment and accept the status of title to the Property as disclosed by the Commitment. 4. Closing. The closing of this transaction shall be held on September 30, 1997, or at an earlier date mutually acceptable to the Sellers and Buyers, at the offices of Security Title Guaranty Co. at a time designated by the title insurance company. 5. Transfer of Title. At the time of closing, the Sellers shall execute and deliver to the Buyers the Sellers' good and sufficient general warranty deed conveying title to the Property free and clear of all liens and encumbrances, except and subject to the items set forth in Schedule B, Section 2, of the Commitment. The warranty deed shall contain covenants, restrictions, and/or reservations as follows: (a) The Property shall be used only as the site for the construction of and use of permanent, nonmobile, residential structure built upon concrete founda- tions and served by permanently installed utili- ties, specifically excluding, without limitation, mobile and motor homes. (b) Except as may be necessary for the construction of V buildings as set forth in the plan attached hereto as Exhibit "Dill repairs, and/or replacements, no -asphalt or concrete existing on the Property on the closing date shall be removed or built upon, and all then existing parking areas, driveways, and service ways shall remain as such. (c) Mutual and reciprocal easements regarding ingress and egress to and through the Property in substan- tially the following form: Each of the Buyers and Sellers, for them- selves, their successors, assigns, employees, tenants, residents, contractors, and guests, do by these presents, grant unto the other, their successors, assigns, employees, tenants, residents, contractors,' and guests, the per- petual right and easement to walk on and to ride on and travel in any currently licensed vehicle upon the property of the other for the purpose of ingress and egress to and from their own property where said property (land) shall be from time to time reserved for rid- ing, driving, and pedestrian traffic. W AGREEMENT OF PURCHASE AND SALE THIS AGREEMENT OF PURCHASE AND SALE is made and entered into this .2L/ day of August, 1997, by and between ELIZABETH CENTER qet CO"., LLP, a limited liability partnership, and ROBERV L. KRUMVIEDA, t� whhose address for purposes of this Agreement is ii'08"Birdie Road, ' Br,'oomfield, CO 80020 (" „ the Sellers ), and JEFFERY.'M.•:DONALDSON and JOHN M. DONALDSON, whose address for purposes of this Agreement is 4.529 South Stover Street, Fort Collins, CO 80525 ("the Buyers"). FOR AND IN CONSIDERATION OF the sum of Five Thousand Dollars ($51000) in the form of a bank cashier's check paid by the Buyers to the Sellers, the receipt of which is hereby. -acknowledged as a :nonrefundable earnest money deposit and part payment of the. Purchase price ("the Earnest Money Deposit"), the Se11'ers agree to s'e11 and the Buyers agree to buy the real property described on Exhibit "A" attached hereto and incorporated herein by reference, commonly known as 816 City Park Avenue, Fort Collins, Colorado ("the Property"), on the following terms and conditions:: 1• Purchase Price. The purchase price of the Property shall �be�Three Dollars er of square feet purchase price is(estimated ross square foot of the to be One Hundred SixtProperty. The Eight Hundred Eleven Dollars ($161,811 Sixty Thousand wi'fhin the Property shall be determined by ae survey to be obtained anyd'r'paid for by the Buyers prior to closing. The purchase price }shaTFl be adjusted according to the Buyers', survey , and the first i(ricre either, eased or decreased in accordance with the actualasquall re footage, shown by the Buyers' survey. 2. Payment of the Purchase price. The purchase price shall be payable as follows: (a) Five Thousand Dollars ($5,000) shall be paid by the Buyers receiving credit at the,time of closing for the nonrefundable Earnest Money Deposit paid by the Buyers to the Sellers contemporaneously with the execution of this Agreement. (b) The balance of the purchase price (estimated to be One Hundred Fifty -Six Thousand Eight Hundred Eleven Dollars [$156,8111) shall be' paid .by the Buyers executing and delivering to the Sellers at the time Of closing their promissory note in.said amount. The promissory note shall be in the form attached hereto as Exhibit "B" and incorporated herein by reference. The promissory note shall be secured by a deed of trust representing a first lien against the Property in the form attached hereto as Exhibit "C" and incorporated herein by reference.