HomeMy WebLinkAboutBLOCK 132 226 REMINGTON STREET LOT 15 - Filed OA-OTHER AGREEMENTS - 2004-02-09AMENDMENT #1 TO
DEVELOPMENT AGREVMENT
'I'lt s Amendtnent to Development Agreement, made and entered into this _ day of
t (- 1999, by and between the City of Fort Collins, Colorado, a Municipal
Corporate n, hereinafter referred to as the "City" and Robert and Sally Castner, individuals,
hereinafter referred to as the "Developer,"
W TNESSETI-I:
WHEREAS, the City and theDevcloper entcrod into a Development Agreement on September
28, 1998, the terms of which govern all development activities of the Developer pertaining to that
certain real property owned by the Developer, situate in the County of Laritner, State of Colorado
(hereinafer referred to as the "Property") and legally described as follows, to wit,
Lots 1, 15, and the south 40 feet oFLot 2, Block 132 (a.k.a 226 Remington),
City of Fort Collins, County of Larimer, State of Colorado.
Wl IEREAS, the terms of the Development Agreement require the Developer to make certain
on -site and off -site improvements to the alley as shown on the approved utility plans forthe Property;
and
WH HUMS, the City desires to perform maintenance to the sewer lines located in the alley,
which maintenance will require the City to make certain alley improvements both adjacent to and off -
site from the Property; and
WI IEREAS, in order to facilitate the efficient and expeditious completion of the sewer lint
maintenance and alley improvements, the City and the Developer agree that the City shall assume the
Developer's obligations to construct the alley improvements shown on the approved utility plans in
exchange for the payment of $5,775.00 from the Developer, which amount is equal to the estimates
obtained by the Developer for such work.
NOW , T 112REFORF, in consideration of the promises of the parties hereto and other good
and valuable consideration, the receipt and adequacy of which are hereby acknowledged, it is agreed
that the following section of the Development Agreement shall be amended to read;
II. Special Conditions.
D. Streets.
2. The City shall design and install all on -site and off -site curb, gutter, and
pavement in the alley adjacent to the Property as shown on the approved utilityplans,
and shall perform all excavation and grading necessary for the installation of such
improvc,nents. The Developer is t-clieved of its obligation to design and construct such
improvements pursuant to the approved final deveiopmentplalas for the Property, and
further, Developer is released from any obligation related to the improvements,
including, but not limited to the obligation to warrant said construction under
provisions of the City Code. The City shall hold the Developer harmless and
indemnify the Developer from any claims related to or resulting from the design,
installation, construction, maintenance or operation of the improvements. As
cons idcration therefor, the Developer shall pay the sum of $5,775.00 to the City upon
the execution of this Amendment and sball be thereupon entitled to a release of that
portion of the First State Bank of Fort Collins, Irrevocable Letter of Credit No. 81,
dated September 25, 1998, deposited as security to guarantee completion of the alloy
improvements described above.
THE CITY OF FORT COLLINS, COLORADO
a Municipal Corporation
By: Q, 1, L".�"
City Manager
ATTEST:
APPROVED AS TO CONTENT:
i
City Engineer
APPROVEDASTO FORM:
�eputy City Attorney
DEVELOPER:
13y:
Robert A. astner, individual
By: �L�
Sally C iner, an individual
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