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HomeMy WebLinkAboutNORTH LEMAY SECOND - Filed DA-DEVELOPMENT AGREEMENT - 2004-01-05North Lemay Subdivision 2nd AGREEMENT THIS AGREEMENT is made and entered into this 24th day of January ) 1975, by and between THE CITY OF FORT COLLINS, COLORADO, a municipal corporation, hereinafter sometimes designated as the "City", and L9L ASSOCIATES, a general partnership with principal offices in Fort Collins, Colorado, hereinafter designated as the "Owner", 6VITNESSETH: WHEREAS, Owner is the owner of certain property situate in the County of Larimer, State of Colorado, more particularly described on Exhibit "A", attached hereto and by this reference made a part hereof; and WHEREAS, Owner desires to develop said property as an industrial subdivision known as North Lemay Subdivision and has submitted to the City a master plan showing a proposed subdivision layout for said lands, which master plan is attached hereto as Exhibit "B" and by this reference made a part hereof; and WHEREAS, Owner has further submitted to the City a master utility plan for said lands, a copy of which is attached hereto as Exhibit "C" and by this reference made a part hereof; and WHEREAS, the parties previously entered into a Memorandum of Agreement respecting said lands on June 6, 1974, to which this Agreement is intended to be supplemental and not in replacement thereof; and WHEREAS, the parties hereto have agreed that the development of said lands will require increased municipal services from the City in order to serve such area and will further require the installation of certain improvements primarily of benefit to the lands to be developed and not to the City of Fort Collins as a whole; and WHEREAS, the City Council has approved the first filing of said subdivision, and the City's Planning and Zoning Board has approved the second filing of said subdivision submitted by the Owner subject to certain requirements and conditions which involve the installation of and construction of utilities and other municipal improvements in connection with said lands. NOW, THEREFORE, in consideration of the premises and the terms and conditions herein stated and for other valuable consideration, the adequacy of which is acknowledged by the parties hereto, it is agreed as follows: 1. The City hereby approved the master plan for the North Lemay Subdivision, Second Filing, submitted by the Owner. 2. Except as otherwise agreed in the parties' Memorandum of Agreement of .June 6, 1974, or otherwise herein specifically agreed, the Owner agrees to install and pay for all utility lines, storm drainage facilities, streets and other municipal facilities necessary to serve the lands described upon Exhibit "A", such lines, streets and facilities as shown on the master utility plan attached hereto as Exhibit "C". The Owner agrees that no more than one curb cut on North Lemay Avenue (which shall serve Lot 4 of the Second Filing of said Subdivision) shall be sought, and any curb cut serving Lot 3 on East Lincoln Avenue shall be as close to the West boundary of said lot as shall be practicable and consistent with its orderly development. -2- 3. Owner agrees to install and pay for water and sewer lines serving lots upon which valuable improvements are to be constructed prior to or contemporaneously with the issuance of a building permit for said lot or lots. The City agrees to pay for the cost of extending a twelve -inch water main to the boundary line of the property described upon Exhibit "A" at such time as this service shall be required by the Owner. The City agrees to contribute toward the cost of oversize water and sewer lines in accordance with its established policy adopted by the City Council relating to City participation in such oversize lines. Owner understands and agrees that no building permit for any structure in the subdivision shall be issued by the City until the fire hydrant serving such structure is installed and accepted by the City, or equivalent fire protection measures are approved by the City. The installation of said water and sewer lines shall be inspected by the Community Development Department of the City and shall be subject to such Department's approval. Owner agrees to correct any deficiencies in such installation in order to meet the requirements of the plans and the specifications applicable to such installation. In the event such installation is not completed and approved within the time set forth above, the City shall have the right to cause such additional work to be done as it deems necessary to complete the installation in a satisfactory manner, and the Owner shall be liable for the cost of such additional work. 4. The City Light and Power Department shall install all electric distribution lines and facilities required for the subject property, -3- and the Owner shall pay for such work in accordance with the established charges of the Light and Power Department. Such installation shall include all street lights required for the development. S. The utility plan submitted by the Owner does not show storm water drainage: facilities and the parties contemplate that the same will be needed but must be designed as the various lots in the subdivision are developed. It. is agreed, therefore, that no building permit will be issued in connection with any lot until the Owner has submitted to the City Engineer a proposed plan for storm drainage, received approval of such plan, and by written agreement agreed to install the same at the cost of Owner. 6. The Owner agrees to construct street improvements on East Lincoln Avenue in the manner and upon the schedule recited in the parties' Memorandum of Agreement of June 6, 1974. The cul-de-sac street known as Logan Court shown on Exhibit "B" shall be constructed and installed with at least a hard, dust -free, gravel, all-weather surface prior to the issuance of a building permit for the con- struction of improvements upon any lot facing on said cul-de-sac. Before any Certificate of Occupancy is issued for improvements on any lot facing upon such cul-de-sac street, the same shall be improved from North Lemay Avenue up to the lot in question with asphalt pavement, curb, gutter, sidewalk and street lighting. The Owner agrees to construct and install asphalt pavement, curb, gutter, sidewalk and street lighting on its half of North Lemay Avenue and East Cherry Street adjacent to those lots having direct access to those streets contemporaneously with the construction of valuable improvements thereon to be completed, inspected and accepted by the City prior to the issuance of a Certificate of Occupancy therefor; provided, however, prior to the issuance of a Certificate of Occupancy for the third lot facing upon East Cherry Street upon which valuable improvements have been constructed, all of the aforesaid street improvements for which the Owner is responsible on East Cherry Street shall be completely installed, inspected and accepted by the City of Fort Collins. Likewise, prior to the issuance of a Certifi- cate of Occupancy for the third lot facing upon North Lemay Avenue upon which valuable improvements have been constructed, all of the aforesaid street improvements for which the Owner is responsible on North Lemay Avenue shall be completely installed, inspected and accepted by the City of Fort Collins. 7. Installation of landscaping adjacent to lots for which a building permit has been issued shall be a condition precedent to the issuance of a Certificate of Occupancy, and said landscaping shall be installed in the manner provided under paragraph 6 of the parties' Memo- randum of Agreement of June 6, 1974. 8. Performance of the foregoing covenants shall be the personal obligation of the parties signatory hereto, and in default of performance, the City shall have a lien upon the property described in Exhibit "A" to indemnify the City for any cost or expense it may have in completing the improvements upon the property in the manner aforesaid. The Owner agrees to provide to the City evidence in writing from a national bank with principal offices in Fort Collins, Colorado, that financial resources may be made available to the Owner to perform its covenants contained in this Agreement. -5- 9. This Agreement shall be binding upon the parties hereto, their representatives, successors and assigns. IN WITNESS WHEREOF, the parties have caused this Agreement to be signed the day and year first above written. THE CITY OF FORT COLLINS, COLORADO ATTEST: y B j �/� City Manager City Clerk APPRdAD: ) L9L ASSOCIATES I Estate of William.fl. Hansen, Deceased -Personal�lepre�Sentative -6-