HomeMy WebLinkAboutCIMARRON PLAZA PUD REPLAT - Filed DA-DEVELOPMENT AGREEMENT - 2003-07-07AMENDMENT TO DEVELOPMENT AGREEMENT
THIS AMENDMENT TO DEVELOPMENT AGREEMENT (the
"Amendment") is made this Ij *' day of May, 1986, by and
among THE CITY OF FORT COLLINS, COLORADO, a municipal
corporation (the "City"), BLUE "0" DEVELOPMENT, a Colorado
general partnership ("Blue 0"), ARROWSTONE PRODUCTION
CORPORATION, a Delaware corporation ("Arrowstone"), and
ARROWSTONE DEVELOPMENT CORPORATION, a Delaware corporation
("Arrowstone Development").
RECITALS
A. On September 26, 1983, the City and Blue 0
entered into a Development Agreement (the "1983 Agreement")
in connection with the development of certain real property
located in Larimer County, Colorado, more particularly
described as:
Cimarron Plaza P.U.D. Tracts A and B,
being a replat of a portion of Cimarron
West P.U.D. and a portion of land located
in the Northeast Quarter, Section 27,
Township 7 North, Range 69 West of the
Sixth Principal Meridian,
City of Fort Collins,
County of Larimer,
State of Colorado.
The 1983 Agreement was recorded by reference in the office
of the Clerk and Recorder of Larimer County, Colorado (the
"Records"), pursuant to a Notice recorded in the Records on
February 10, 1984, in Book 2258 at Page 1169, at Reception
No. 550492.
B. On October 24, 1985, a second Development
Agreement was entered into by and between the City, Blue 0
and Thomas D. Murphy ("Murphy") (the "1985 Agreement") in
connection with the development of certain real property in
Larimer Coun•�y, Colorado, more particularly described as:
Cimarron Plaza P.U.D.,
being a replat of Cimarron Plaza P.U.D.
located in the Northeast Quarter of
Section 27, Township 7 North, Range 60 West
of the Sixth Principal Meridian,
City of Fort Collins,
County of Larimer,
State of Colorado.
The 1985 Agreement was recorded by reference in the Records
pursuant to a Notice recorded in the Records on January 15,
1986, as Reception No. 86002631.
C. Arrowstone has purchased the real property
encumbered by the 1985 Agreement from Murphy.
D. On October 24, 1985, Blue 0, the City and
Arrowstone Development entered into a Release Agreement (the
"Release"), whereby upon the sale of the real property owned
by Blue 0 and encumbered by the 1985 Agreement to Arrowstone
Development, the City agreed to release Blue O from its
obligations pursuant to the 1985 Agreement, and Arrowstone
Development agreed to assume the obligations of Blue 0
pursuant to the 1985 Agreement. The Release was recorded in
the Records on January 28, 1986, at Reception No. 86004792.
E. Inasmuch as the real property encumbered by
the 1983 Agreement is also encumbered by the 1985 Agreement,
the parties hereto wish to amend the 1985 Agreement to
provide for the termination of the 1983 Agreement.
AGREEMENT
NOW, THEREFORE, for good and valuab:e considera-
tion, the receipt and adequacy of which are hereby acknowl-
edged, the parties hereto agree as follows:
1. The following Section 3.K is hereby added to
the 1985 Agreement:
"K. The parties hereto, by the execution of
this Development Agreement, hereby terminate that
certain. Development Agreement dated September 26, 1963,
by and between the City and Blue "0" Development, a
Colorado general partnership (the "1983 Agreement"),
which was recorded by reference in the office of the
Clerk and Recorder of Larimer County, Colorado,
pursuant to a Notice recorded in the Records on
February 10, 1984, in Book 2258 at Page 1169, at
Reception No. 550492, and to render it of no further
force and effect; it being the intention of the parties
hereto that this Development Agreement shall encumber
the real property described herein and shall supersede
the 1983 Agreement."
2. This Amendment shall be placed for record in
the Records. All costs associated with such recording shall
be borne by z...rrowstone.
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3. The person executing this Amendment on behalf
of the City hereby states and represents that he/she is
authorized to act on behalf of the City.
4. This Amendment shall be construed according
to the laws of the State of Colorado.
IN WITNESS WHEREOF, this Amendment has been
executed by the parties hereto on the day and year first
written above.
ATTEST:
APPROVED AS TO FO
it ttor e
City Wgineer
THE CITY OF FORT COLLINS, COLORADO,
a municipal corporation
By: C
City Manager
BLUE "0" DEVELOPMENT, a Colorado
general partnership
B y : �—
lames Listen, as a
general partner
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ATTEST:
ATTEST:
Secretary
Secretary
STATE OF COLORADO )
ss.
COUNTY OF
ARROWSTONE PRODUCTION CORPORATION,
a Delaware corporation
�. [SEAL]
By:
David J. Fa stel,
President \
ARROWSTONE DEVELOPMENT CORPORATION,
a Delaware corporation
[SEAL]
By:
David J. Fa"tel,
President
The foregoing Amendment to Development Agreement
was acknowledged before me this day of 't,,,r� 1986,
by i'l _ /_�'�„ r; �� as City Manager, and by
iI ; , s cE- f"as City Clerk of THE CITY OF FORT
COLLINS, COLORADO. a municipal corporation.
WITNESS my hand and official seal.
My commission expires:
Notary Public �-
-4-
STATE OF COLORADO )
ss.
COUNTY OF v0i P }
The foregoing Amendment to Development Agreement
was acknowledged before me this % f" day of ltJ z 1986,
by ;'� `r;`�„� as City Attorney of THE CITY OF
FORT COLLINS, COLORADO, a municipal corporation.
WITNESS my hand and official seal.
My commission expires:_ �F;c•;�r,� j,��%
[ SEAL
Notary Public
STATE OF COLORADO
ss.
COUNTY OF •n � ;.n� i P_._ )
The foregoing Amendment to Development Agreement
was acknowledged before me this day of 1986,
by �F;__.i t-> as City Engineer of THE CITY OF
FORT COLLINS, COLORADO, a municipal corporation.
WETNESS my hand and official seal.
My commission expires:
n
�SLALI
Notary Public
-5-
STATE OF COLORADO )
ss.
COUNTY OF D � ; )
The foregoing Amendment tF DevelopRent Agreement
was acknowledged before me this ,= day of Lt_,.- , 1986,
by James :Listen as a general partner of LUE 110"
DEVELOPMENT, a Colorado general partnership.
WITNESS my hand and official seal.
My commission expires:,�_`�^�
r\
( SEAL J �i
Notary Public
4-
STATE OF COLORADO )
ss.
COUNTY OF Avc. *.kbQ )
The foregoing Amendment to Development Agreement
was acknowledged before me this Rt day of , 1986,
by David J. Faestel as President and c w- as
Secretary of ARROWSTONE PRODUCTION CORPORATION, a
Delaware coriooration.
WITNESS my hand and official seal.
My, commission expires: 9, 0/Jo
SEAL J Z.
Notary Public
M-11
STATE OF COLORADO )
ss.
COUNTY OF 'r^ )
The foregoing Amendment to Development Agreement
was acknowledged before me this � day of 1986,
by David J. Faestel as President and%?,0 1 as
Secretary of ARROWSTONE DEVELOPMENT ORPORATION, a
Delaware corporation.
WITNESS my hand and official seal.
My commission expires: t?/S0 AV
[SEAL]
QA��
otary Public
d2