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Home My WebLink AboutSILVERPLUME ESTATES - Filed OA-OTHER AGREEMENTS - 2004-02-13AGREEMENT THIS AGREEMENT, is executed this :7? .day of August, 1986, by and between the City of Fort Collins, Colorado, (City) and Pitner Construction, Inc. (Developer). WITNESSETH WHEREAS, the Developer is the contract purchaser of Lots 1 through 42, Silverplume Estates in the City of Fort Collins, Colorado, (the Property); and WHEREAS, the Developer desires to develop said property in accordance with that certain Development Agreement dated June 29, 1983 (the Development Agreement) with regard to the Prop- erty; and WHEREAS, the City has, in accordance with the Development Agreement, required that the Developer complete the construc- tion of certain public improvements known as the "Swallow Road Bridge" (Bridge) as described in Exhibit "A", paragraph 3 of the Development Agreement, said Bridge to be constructed no later than May 6, 1987; and WHEREAS, the Developer has submitted an estimate of the cost of construction of the Bridge to the City Engineer for approval; and WHEREAS, the Developer desires to obtain building permits and construct improvements on the Property prior to the con- struction of the Bridge; and WHEREAS, the City desires to secure a mechanism to insure adequate funding for the construction of said Bridge in order that, if the Bridge is not constructed by the Developer ear- lier, the City will possess sufficient funds by May 6, 1987, to accomplish said construction. NOW THEREFORE, in consideration of the mutual promises of the parties and other good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, the parties agree as follow: 1. The City Engineer does hereby accept the Developer's estimate as heretofore submitted, for the purpose of calculat- ing the Developer's portion of the cost of the construction of the Bridge, which proportionate cost is determined to be Forty Thousand Seven Hundred Eighty One Dollars ($40,781.). 2. No building permit shall be issued for any lot or par- cel of the property without the City having first received deposit of the funds as hereinafter described, for the con- struction of the Bridge. 3. It is understood and agreed that the Developer will deposit with the City, to be held in escrow for the purpose of constructing the Bridge, the aforesaid Developer's proportion- ate cost ($40,781.) plus fifty per cent (50%) additional as contingency, for a total sum of Sixty One Thousand One Hundred and Seventy One Dollars and Fifty Cents ($61,171.50). The City shall establish and accounting fund for the purpose of earmark- ing and identifying said sum, which sum shall not be used for any other purpose except construction of the Bridge. 4. On or before the issuance of any building permit for construction of improvements on any lot or parcel within the property, the Developer shall remit to the City to be held in the aforesaid fund (the Bridge fund) the sum of One Thousand Four Hundred and Fifty Six Dollars and Forty-seven Cents ($1,456.47). Not withstanding the foregoing, if all building permits for the Property have not been issued by May 6, 1987, the Developer shall thereupon promptly remit any such sum as is necessary to bring the total balance in the Bridge fund to the sum of Sixty One Thousand One Hundred and Seventy One Dollars and Fifty Cents ($61,171.50). 5. In the event that the Developer shall have constructed the Bridge prior to May 6, 1987, all monies previously depo- sited in the Bridge fund shall be released to the Developer promptly upon acceptance of the Bridge by the City Engineer. 6. Upon receipt into the Bridge fund of the total sum of $61,171.50, the City shall thereupon take all reasonable and prompt steps to utilize and expend said funds in the construc- tion of the Bridge. The City shall have no obligation to take any steps toward the commencement of the construction of the Bridge until it has received the full sum of $61,171.50. 7. This Agreement shall constitute the entire understand- ing of the parties hereto and may not be amended except in writing by both of the parties. This Agreement shall inure to the benefit of the heirs, successors, representatives, assigns, agents, subcontractors and contractors of the Developer and the City, and shall be deemed to run with the land. - 2 - IN WITNESS WHEREOF, the parties hereto have set their hands and seals the day and year first above written. State of Colorado )ss. County of CITY OF FORT COLLINS, COLORADO A C 4xp(-- Steven C. Burkett, City Manager Subscribed and sworn to before me this ZiH day of 19 Witness my hand and official seal. My commission expires: Notary Public ATTEST: City Clerk' �3 i`*2Si0l$3llZT0M1li1wU"yI Assistant City Attorney City Erfgineer Pitner Construction, Inc., a Colorado Corporation Richard Pitner, President State of Colorado �7'0 )ss. County o ) Subscribed and sworn to before me this day t va, 19 . Witness my hand and official seal. My commission expires: MYCOMMI OnexplresJuly16,1988 Notary P lic G of MIM AGREEMENT THIS AGREEMENT is executed this q z. day of J;y _ � 1986 by and between the City of Fort Collins, Colorado ("City"), Colrad Development Corporation ("Colrad") and Pitner Construction Inc. ("Developer"). ' WITNESSETH: WHEREAS, Colrad is the owner of Lots 1 through 7, Silverplume Estates in the City of Fort Collins, Colorado (the "Property"); and WHEREAS, Colrad is also the owner of land adjacent to the Property which land, together with the Property, the Developer seeks to develop; and WHEREAS, the Developer is the contract purchaser of all the above described land; and WHERAS, the development of said adjacent lands, together with the contribution of other storm drainage waters, may, and likely will, create the possibility of flooding upon the Property until such time as the City completes a certain storm drainage channel below the Property, the purpose of which channel is to discharge storm drainage waters into Spring Creek; and WHEREAS, the City intends to commence construction of said channel within the coming weeks and to substantially complete construction on or before January 1, 1987; and WHEREAS, the Developer and the City, in the interest of the protection of the public health, safety and welfare of the citi- zens of the City and the protection of the Property, desire to set forth certain understandings with regard to the development of the Property pending completion of the aforesiad channel by the City on or before January 1, 1987. NOW. THEREFORE, in consideration of the mutual promises of the parties hereto, and other good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, the parties agree as follows: 1. The City agrees to commence construction of that certain storm drainage channel below the Property to be designed and identified as the "Trend -Cedar Village Outfall," for the purpose of delivering storm drainage waters to Spring Creek, said comple- tion to be accomplished on or before January 1, 1987. 2. In consideration thereof, the Developer agrees that the City shall issue no certificates of occupancy upon the Property until January 1, 1987, or the date of completion of the said chan- nel, whichever shall first occur. 3. The Developer further agrees that if the City issues building permits upon the Property, and the Developer pursuant to such building permits constructs improvements thereon, any damages or injuries suffered by the Developer, its successors, heirs, representatives, agents, contractors, subcontractors and assigns shall indemnify and save the City harmless from any liability or damages, or claims of liability or damages arising as a result of storm drainage flooding upon said Property from the date of the execution of this Agreement until January 1, 1987, or until the completion of the aforesaid channel by the City, whichever shall first occur. The Developer shall further vigorously defend the City against any actions, claims or other proceedings that may be commenced against the City for the purpose of seeking recovery for such damages and shall pay any settlements or judgments resulting therefrom. All costs and attorney's fees in such defense shall be borne by the Developer; and all costs and attorney's fees incurred by the City in enforcing the provisions of this Agreement shall be borne by the Developer. 4. It is understood that the Developer may request building permits for some or all of the lots on the Property and may con- struct footings, foundations, framing or other improvements there- on, but it is further understood that any such improvements, and any building permits issued by the City at the request of the Developer, shall be issued as conditioned by the provisions of this Agreement. 5. This Agreement shall constitute the entire understanding of the parties hereto and may not be amended except in writing by both of the parties. This Agreement shall inure to the benefit of the heirs, successors, representatives, assigns, agents, subcon- tractors and contrctors of the Developer and the City, and shall be deemed to run with the land. IN WITNESS WHEREOF, the parties hereto have set their hands and seals the day and year first above written. CITY OF'i FO�COLLINS, CO DO By: Gz Oe,bo1 y' C ty Manage -2- 0 0 ATTEST C City Cl U APPROV# ASTO FORM: S Assistant City Attorney COLORAD DEVELOPMEN C PORATION By U%� residis Ss.�eP ent PITNER ^^COO��NSTRUCTION, INC By: xic er, resident STATE OF COLORADO ) ss. COUNTY OF LARIMER ) Subscribed and sworn to before me this q1k day of AnXk/ , 1986 by Rich Shannon, as Deputy City Manager of the City of Fort Collins. ,muuinn,,,, Witness my hand and official seal. >. 'Commission expires: MyZ9,1989 fit. r4orary 0bl C) STATE OF COLORADO ) ss. COUNTY OF LARIMER Subscribed and sworn to before me this �_ day of , 1986 by , as Senior Vise President of Colr d Development Corporation. -3 - A 'w Witness my hand and official seal. My commission expires: Notary e 25, 1953 STATE OF C0L0 RADO ) COUNTY OF LARIMER ) ss. Subscribed and sworn to before me this 9,.. day of pdtj, 1986 by Richard Pitner, as President of Pitner Construction In'c. ,1nu„ Wi,tness my hand and official seal. My�commission expires: y y� Nota. 'r�y Public —7�— N�^Cal -4-