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HomeMy WebLinkAboutSTANTON CREEK SECOND - Filed DA-DEVELOPMENT AGREEMENT - 2004-02-26DEVELOPMENT AGREEMENT THIS AGREEMENT, made and entered into this / N` dayof r+A%e r 199�,, by and between the CITY OF FORT COLLINS, COLORADO, a Municipal Corporation, hereinafter referred to as the "City and James Construction Co., a Colorado Corporation, hereinafter referred to as the "Developer". WITNESSETH: WHEREAS, the Developer is the owner of certain real property situated in the County of Larimer, State of Colorado, (hereafter referred to as the "Property") and legally described as follows, to wit: Stanton Creek Subdivision Second Filing, a portion of Section 18, Township 6 North, Range 68 West of the 6th P.M., City of Fort Collins, County of Larimer, State of Colorado. WHEREAS, the Developer desires to develop the Property and has submitted to the City all plats, plans (including utility plans) reports and other documents required for the approval of a final plan according to the City's Development application submittal requirements master list (the final development plan documents) copies of which are on file in the office of the City Engineer and made a part hereof by reference; and WHEREAS, the parties hereto have agreed that the development of the Property 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 has approved the final development plan documents submitted by the Developer subject to certain requirements and conditions which involve the installation of and construction of utilities and other municipal improvements in connection with the Property. NOW, THEREFORE, 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 as follows: I. General Conditions A. The terms of this Agreement shall govern all development activities of the Developer pertaining to the Property. For the purposes of this Agreement, "development activities" shall include, but not be limited to, the following: (1) the actual construction of development (e.g., all signing and striping for a right turn lane into the development site). E. Ground Water 1. The City shall not be responsible for, and the Developer hereby agrees to indemnify and hold harmless the City against, any damages or injuries sustained in the development as a result of ground water seepage or flooding, structural damage, or other damage unless such damages or injuries are sustained as a result of the City's failure to properly maintain fits storm drainage facilities in the development. The City agrees to give notice to the Developer of any claim made against it to which this indemnity and hold harmless agreement by the Developer could apply, and the Developer shall have the right to defend any lawsuit based on such claim and to settle any such claim provided Developer must obtain a complete discharge of all City liability through such settlement. Failure ofthe City to give notice of any such claim to the Developer within ninety (90) days after the City first receives notice of such claim under the Colorado Governmental Immunity Act for the same, shall cause this indemnity and hold harmless agreement by the Developer to not apply such claim and such failure shall constitute a release of this indemnity and hold harmless agreement as to such claim. F. Hazards and Emergency Access 1. No combustible material will be allowed on the site until a permanent water system is installed by the Developer and approved by the City. 2. Prior to beginning any building construction in Phase 1, and throughout the buildout of Phase 1 of this development, the Developer shall provide and maintain at all times an accessway to said huilding or buildings. Such accessway shall be adequate to handle any emergency vehicles or equipment, and the accessway shall be kept open during all phases of construction. Such accessway shall be constructed to an unobstructed width of at least 20 feet with 4 inches of aggregate base course material compacted according to city standards and with an 80 foot diameter turnaround at the building end of said accessway The turnaround is not required if an exit point is provided at the end of the accessway. Prior to the construction of said accessway, a plan for the accessway shall be submitted to and approved by the Poudre Fire Authority and City Engineer. (Three plan sets shall be submitted to the Poudre Fire Authority at 102 Remington Street for review and processing.) If such accessway is at any time deemed inadequate by the Poudre Fire Authority or City Engineer, the accessway shall be promptly brought into compliance and until such time thatthe accessway is brought into compliance, the City may issue a stop work order for all or part of the Development. G. Footing and Foundation Permits 1. Notwithstanding any provision in this Agreement to the contrary, the Developer shall have the right to obtain a Footing and Foundation permit, for Phase 1 development only.. upon the installation of all underground water, sanitary sewer, and storm 10 sewer facilities, and an emergency accessway for Phase 1. Facilities shall include but not be limited to all mains, lines, services and appurtenances for Phase 1 as shown on the final development plan documents. III. Miscellaneous A. The Developer agrees to provide and install, at its expense, adequate barricades, warning signs and similar safety devices at all construction sites within the public right-of-way and/or other areas as deemed necessary by the City Engineer and Traffic Engineer in accordance with the City's "Work Area Traffic Control Handbook" and shall not remove said safety devices until the construction has been completed . B. As required pursuant to Chapter 20, Article IV of the City Code, the Developer shall, at all times, keep the public right-of-way free from accumulation of waste material, rubbish, or building materials caused by the Developer's operation, or the activities of individual builders and/or subcontractors, shall remove such rubbish as often as necessary, but no less than daily and, at the completion of the work, shall remove all such waste materials, rubbish, tools, construction equipment, machinery, and surplus materials from the public right-of-way. The Developer further agrees to maintain the finished street surfaces so that they are free from dirt caused by the Developer's operation or as a result of building activity. Any excessive accumulation of dirt and/or construction materials shall be considered sufficient cause for the City to withhold building permits and/or certificates of occupancy until the problem is corrected to the satisfaction of the City Engineer. If the Developer fails to adequately clean such streets within two (2) days after receipt of written notice, the City may have the streets cleaned at the Developer's expense and the Developer shall be responsible for prompt payment of all such costs. The Developer also agrees to require all contractors within the development to keep the public right-of-way clean and free from accumulation of dirt, rubbish, and building materials. C. The Developer hereby agrees that it will require its contractors and subcontractors to cooperate with the City's construction inspectors by ceasing operations when winds are of sufficient velocity to create blowing dust which, in the inspector's opinion, is hazardous to the public health and welfare. D. The Developer shall pursuant to the terms of this Agreement, complete all improvements and perform all other obligations required herein, as such improvements or obligations may be shown on the final development plan documents, or any documents required by the City Engineer for the approval of an amendment to a development plan, and the City may withhold such building permits and certificates of occupancy as it deems necessary to ensure performance hereof. E. Nothing herein contained shall be construed as a waiver of any requirements of the City Code. Land Use Code, or Transitional Land Use Regulations (as applicable) and 11 the Developer agrees to comply with all requirements of the same F. In the event the City waives any breach of this Agreement, no such waiver shall be held or construed to be a waiver of any subsequent breach hereof. G. Financial obligations of the City of Fort Collins payable after the current fiscal yearand/or not appropriated or budgeted are contingent upon funds forthat purpose being appropriated, budgeted and otherwise made available by the Fort Collins City Council. H. This Agreement shall run with the Property and shall be binding upon and inure to the benefit of the parties hereto their respective personal representatives, heirs, successors, grantees and assigns. It is agreed that all improvements required pursuant to this Agreement touch and concern the Property regardless of whether such improvements are located on the Property. Assignment of interest within the meaning of this paragraph shall specifically include, but not be limited to, a conveyance or assignment of any portion of the Developer's legal or equitable interest in the Property, as well as any assignment of the Developer's rights to develop the Property under the terms and conditions of this Agreement. I. In the event the Developer transfers title to the Property and is thereby divested of all equitable and legal interest in the Property, the City hereby agrees to release said Developer from liability under this Agreement with respect to any breach of the terms and conditions of this Agreement occurring after the date of any such transfer of interest. In such event, the succeeding property owner shall be bound by the terms of this Agreement. J. Each and every term of this Agreement shall be deemed to be a material element hereof. In the event that either party shall fail to perform according to the terms of this Agreement, such party may be declared in default. In the event that a party has been declared in default hereof such defaulting party shall be given written notice specifying such default and shall be allowed a period of ten (10) days within which to cure said default. In the event the default remains uncorrected, the party declaring default may elect to, (a) terminate the Agreement and seek damages, (b) treat the Agreement as continuing and require specific performance or (c) avail itself of any other remedy at law or equity. K. In the event of the default of any of the provisions hereof by either party which shall require the party not in default to commence legal or equitable action against said defaulting party. the defaulting party shall be liable to the non -defaulting party for the non - defaulting party's easonable attorney's fees and costs incurred by reason of the default. Nothing herein shall be construed to prevent or interfere with the City's rights and remedies specified in Paragraph III.D of this Agreement L. Except as may be otherwise expressly provided herein, this Agreement shall not be construed as or deemed to be an agreement for the benefit of any third party or parties, and no third party or parties shall have any right of action hereunder for any cause whatsoever. 12 M. It is expressly understood and agreed by and between the parties hereto that this Agreement shall be governed by and its terms construed under the laws of the State of Colorado and the City of Fort Collins, Colorado. N. Any notice or other communication given by any party hereto to any other party relating to this Agreement shall be hand -delivered or sent by certified mail, return receipt requested, addressed to such other party at their respective addresses as set forth below; and such notice or other communication shall be deemed given when so hand -delivered or three (3) days after so mailed: If to the City: Engineering Development Review City of Fort Collins P.O. Box 580 Fort Collins, Cc 80522 With a copy to: City Attorney's Office City of Fort Collins P.O. Box 580 Fort Collins, Co 80522 If to the Developer: James Construction Co., Inc. Attn: James Postle, President 2919 Valmont Rd., Suite 204 Boulder. Colorado 80301 With a copy to: Notwithstanding the foregoing, if any party to this Agreement, or their successors, grantees or assigns, wishes to change the person, entity or address to which notices under this Agreement are to be sent as provided above, such party shall do so by giving the other parties to this Agreement written notice of such change. O. When used in this Agreement, words of the masculine gender shall include the feminine and neuter gender, and when the sentence so indicates, words of the neuter gender shall refer to any gender, and words in the singular shall include the plural and vice versa. This Agreement shall be construed according to its fair meaning, and as if prepared by all parties hereto, and shall be deemed to be and contain the entire understanding and agreement between the parties hereto pertaining to the matters addressed in this Agreement. There shall be deemed to be no other terms, conditions, promises, understandings, statements, representations, expressed or implied, concerning this Agreement, unless set forth in writing signed by all of the parties hereto. Further, 13 paragraph headings used herein are fore convenience of reference and shall in no way define, limit, or prescribe the scope or intent of any provision under this Agreement. ATTEST: City Clerk APPROVED AS TO CONTENT: City Engineer APP ED AS TO FORM: Deputy City Attorney THE CITY OF FORT COLLINS, COLORADO, a Municipal Corporation By: Qz + ha City Manager DEVELOPER: James Constrbct)on Co., Inc., a Colorado Corporation By: 1%)— Ja es P stle. President 14 EXHIBIT "A" 1. Schedule of water lines to be installed out of sequence. Not Applicable. 2. Schedule of sanitary sewer lines to be installed out of sequence. Not Applicable. 3. Schedule of street improvements to be installed out of sequence. Not Applicable 4. Schedule of storm drainage improvements to be installed out of sequence. Not Applicable. 15 EXHIBIT "B" Not Applicable IM First National Bank January 15_ 2001 Citv of Port Collins 3(0 LaPorte Av cntic Port Collins, Co 80521 1)ear Sirs: R/P. I) qrn�nr P.U- 6 on \V'C hcrch\ estahlish, at the request and Ibr the account of JamCS Construction Company in your Timor as heneIICi,tl our Irrevocable Letter of Credit Vo, J I �F. in fhc amount of I wo hundred th%o thousand three hundred bitten and 00/100 DoIlars (b20'),315.00) (os nunc fully described below) cffecti%c immediately and e.xpirin+, at the close of banl.ing buYInCSS on January I5, 2002. at our office at 155 F. Boardwalk. Fort Collins, CO h0525. flik Lestero( Credit is intendect for the Stanton Cleek Filing? Phase 5 Dcvclopment Piujcct UC%Clopnrnt ProjCCt") for the assurance of the completion of the consUuction and the ntaintenaoce and repair of the public infrasuuctuic in connection with the afores.iid dcvclopment project and its associated development agreement and dcyClopmcnt COnSCfUCCIon permit. I'unds under this Letter of Credit arc available to you for one or morc drawings prior to the closC of business on January 15, 2002. against sight drafts in all aciCre'ate cumulative amount not to exceed $201315.00_ dated the date of prescnlment. drawn on our office rcfcned to above. referring thereon to the number of this Leto of Credit and accompanied by your v-written certificate signed by you and acl;nnwled_ ed as therein provided in the form of Fshibit I hereto. PreSCnt2l i0ll of such draft and Celli ricate shall be made at our oflicc rclerred to above. Upon the earlier of(i) our honorinc %our draft(s) totaling $202,315.00 in the aggregate presented on or hctbrc this Lettcr of Cr. dit expires pursuant to the terms herein or (ii) tine surrender to us Ivry you ol' this Letter of Credit for cancellation, this Letter of Crcdit shall uutomaticalk tc_ntinatc. It i� understood that the amount of this Lctter of Credit may be reduced as public nipru) umen,s arc consu uUcd and accepted b- the CitN. As components ol,the nfrtstructurC arC sa;isfactorill' complCted in accordance with approval utility plans, the value of the eon.pleted components nrav he established from the DCyClopment onsu LIctiOil Pe nit worlcshCCt Ibr dete-minina costs of intiastructurc cons(ruction and inspection Ices. Mhereupon the amount of this ICtter of credit ma% he reduced by the \.,luc of the cowplcicd componea(sl. upon execution of a `Request for Amendment to I ' llel o,-('rc(lif in the 1,01111 uttach-'d hereto as I(shil)it 2. leis ICCCr,,(crr(:iI shall he suhjcc! to the 1.niforill Commercial Cole as in efleCt it; the �t.uc "i ('„lorado. anti - to the c.ytcnt lot atconsi,tcnt with the terms of this Lctter oI Credit and the Uniftum Commercial code, the Uniform Customs and Practice for Documentary Credits, 1993 revision, IC(' publication number 500. 'I his LClter ol'Credit vv ill be auumuttically extended without amendments for one %car Isom the present- Lind each future, expiration date thereof; unless Issuer delivers written nolic,� ;it ca;t sixty t 60) da's prior to any such expiration date to the City of Dort Collins of its intent not to renew this Letter otCredit. Any such notice., shall be in writing and shall he dclicercd kith an ackrioML!dged receipt. either in hand or by certified mail Any ❑mcndmcnts to this Leper of Credit shall be made in the form of Exhibit 3 hCiCLO. The Cite may a❑ne r t c time m est that the BdIll< amend this Lof etter Credit by suhmitting to the Bunk a fully e:xeCUtC(1 catilieate in the torn of Exhibit 2. The Rant: shall thercalicr proutptly issue an amenclnunt to the Letter of Credit corresponding to tic ch,1112C or Chan 'es requested in such certificate. This Letter of Credit is not u-ansterable. This Lcttu ol'Credit sets lorth in full our undertaking, and such undertaking shall not in Lill y \yay be modified, amended, amplified or limited by reference to any document, instrument or agreement relerred to herein, except only the certificate and draft(s) let ,elred to hcrcin: and any such retCrcnce shall not be deemed to incorporate herein by rCcra1ce any dorumenL instrument or agreement except for such certificate or dral't(s). STA IT OICOLORADO) CM'N"1 Y OF LARIMER) Subscribed ❑nd sworn to before me this _1�l �� day ofd�Y!tjx h-\ ,k�_; 1I Tk as Construction Loan Otticer, First �\ itness my hind and ol'licinl seal. Nlv Commission Expires: i+ _ t .lames Construction Company 131': Notary Public 'I Sincerel}, A0 James I . rupp Vice President First National Ranh CO ��� :n G Nye AC/B l O ional ]114�T . 4 Commission Expires 10/05/2002 City of Fort Collins, Colorado DEVELOPMENT CONSTRUCTION PERMIT Permit Number: 99-32 Issuance Date: Project Name: Stanton Creek 2" Filing (Phase 3) Project A.K.A.: Project Location: Southeast corner of Lemay Avenue and County Road 34. Phase 3 located east of Tortola Way and North of Barbuda Place Permittee: Richard J. Ray, James Company City and developer contacts: See attached Exhibit "A"for names and phone numbers of all contact persons for this project. Fees: Permit Application Fee $ 300.00 Construction Inspection Fee (paid prior to issuance of this permit) $ 8,980.00 Total $ 9,280.00 Development Bond or other approved security: Amount of security deposited with the City to guarantee the completion of all public improvements to be constructed as shown on the approved plans for the development. $ 226,988.76 Form of security deposited with the City: Letter of Credit PERFORMANCE REQUIREMENTS OF THIS PERMIT: 1. The Permittee shall be responsible to require their Project Engineer to incorporate into all design drawings and specifications the certification of all materials testing by an Engineer. The Permittee shall have an Engineer prepare revised design drawings and secure City approval for all revisions to the Utility Plans and related documents. The Permittee shall have an Engineer represent, as required by the City in the Development Agreement, that the improvements are constructed in conformance with the approved Utility Plans and the standards and specifications of the City. The Permittee shall provide "as -constructed" plans prepared by an Engineer prior to the City's acceptance of the constructed public improvements. (All references above to the terms "Project Engineer" and "Engineer" shall mean a Professional Engineer licensed in Colorado.) 2. All contractors who perform work on this project must be bonded and licensed in conformance with City requirements. 3. Construction time restrictions: N improvements, (2) obtaining a permit therefor, or (3) any change in grade, contour or appearance of the Property caused by, or on behalf of, the Developer with the intent to construct improvements thereon. B. All water lines, sanitary sewer collection lines, storm sewer lines and facilities, streets, curbs, gutters, sidewalks, and bikepaths shall be installed as shown on the approved utility plans and in full compliance with the standards and specifications of the City on file in the office of the City Engineer at the time of approval of the utility plans relating to the specific utility, subject to a three (3) year time limitation from the date of execution of this Agreement. In the event that the Developer commences or performs any construction pursuant hereto after the passage of three (3) years from the date of execution of this agreement, the Developer shall resubmit the utility plans to the City Engineer for reexamination. The City may then require the Developer to comply with the approved standards and specifications of the City on file in the office of the City Engineer at the time of the resubmittal. C. No building permit for the construction of any structure within the development shall be issued by the City until the public water lines and stubs to each lot, fire hydrants, sanitary sewer lines and stubs to each lot, and public streets (including curb, gutter, and pavement with at least the base course completed) serving such structure have been completed and accepted by the City. No building permits shall be issued for any structure located in excess of six hundred and sixty feet (660') from a single point of access, unless the structures contain sprinkler systems that are approved by the Poudre Fire Authority. D. Any water lines, sanitary sewer lines, storm drainage lines, and/or streets described on Exhibit 'A," attached hereto, shall be installed within the time and/or sequence required on Exhibit"A." If the City Engineer has determined that any water lines, sanitary sewer lines, storm drainage facilities and/or streets are required to provide service or access to other areas of the City, those facilities shall be shown on the utility plans and shall be installed by the Developer within the time as established under "Special Conditions" in this document. E. Except as otherwise herein specifically agreed, the Developer agrees to install and pay for all water, sanitary sewer, and storm drainage facilities and appurtenances, and all streets, curbs, gutters, sidewalks, bikeways and other public improvements required by this development as shown on the approved final development plan documents and other approved documents pertaining to this development on file with the City. F. Street improvements shall not be installed until all utility lines to be placed therein have been completely installed.. including all individual lot service lines leading in and from the main to the property line. G. The installation of all utilities shown on the final development plan documents shall be inspected by the Engineering Department of the City and shall be subject to such department's approval. The Developer agrees to correct any deficiencies in such KA installations in order to meet the requirements of the plans and/or specifications applicable to such installation. In case of conflict, the final development plan documents shall supersede the standard specifications. H. All storm drainage facilities shall be so designed and constructed by the Developer as to protect downstream and adjacent properties against injury and to adequately serve the Property (and other lands as may be required, if any). The Developer shall meet or exceed the minimum requirements for storm drainage facilities as have been established by the City in its Drainage Master Plans and Design Criteria. The Developer does hereby indemnify and hold harmless the City from any and all claims that might arise, directly or indirectly, as a result of the discharge of injurious storm drainage or seepage waters from the Property in a manner or quantity different from that which was historically discharged and caused by the design or construction of the storm drainage facilities, except for (1) such claims and damages as are caused by the acts or omissions of the City in maintenance of such facilities as have been accepted by the City for maintenance; (2) errors, if any, in the general concept of the City's master plans (but not to include any details of such plans, which details shall be the responsibility of the Developer); and (3) specific written or otherwise documented directives that may be given to the Developer by the City. The City agrees to give notice to the Developer of any claim made against it to which this indemnity and hold harmless agreement by the Developer could apply, and the Developer shall have the right to defend any lawsuit based on such claim and to settle any such claim provided Developer must obtain a complete discharge of all City liability through such settlement. Failure of the City togive notice of any such claim to the Developer within ninety (90) days after the City first receives a notice of such claim under the Colorado Governmental Immunity Act for the same, shall cause this indemnity and hold harmless agreement by the Developer to not apply to such claim and such failure shall constitute a release of this indemnity and hold harmless agreement as to such claim. Approval of and acceptance by the City of any storm drainage facility design or construction shall in no manner be deemed to constitute a waiver or relinquishment by the City of the aforesaid indemnification. The Developer shall engage a Colorado licensed professional engineer to design the storm drainage facilities as aforesaid and it is expressly affirmed hereby that such engagement shall be intended for the benefit of the City, and subsequent purchasers of property in the development. I. The Developer shall pay storm drainage basin fees in accordance with Chapter 26, Article VII of the City Code. Storm drainage improvements eligible for credit or City repayment under the provisions of Chapter 26 are described together with the estimated cost of the improvements on the attached Exhibit "B," which improvements, if applicable, 8shall include right-of-way, design and construction costs. See Section ILC, Special Conditions, Storm Drainage Lines and Appurtenances, for specific instructions. J. The Developer shall provide the City Engineer with certified Record Plan Transparencies on Black Image Diazo Reverse Mylars upon completion of any phase of the construction. Utilities will not be initially accepted prior to as -built drawings being submitted to and approved by the City of Fort Collins. 3 K. The Developer specifically represents that to the best of its knowledge all portions of the Property dedicated (both in fee simple and as easements) to the City associated with this development are in compliance with all environmental protection and anti -pollution laws, rules, regulations, orders or requirements, including solid waste requirements, as defined by the U. S. Environmental Protection Agency Regulations at 40 C.F.R., Part 261, and that such portions of the Property as are dedicated to the City pursuant to this development, are in compliance with all such requirements pertaining to the disposal or existence in or on such dedicated property of any hazardous substances, pollutants or contaminants, as defined by the Comprehensive Environmental Response Compensation and Liability Act of 1980, as amended, and regulations promulgated thereunder. The Developer does hereby indemnify and hold harmless the City from any liability whatsoever that may be imposed upon the City by any governmental authority, pertaining to the disposal of hazardous substances, pollutants or contaminants, and cleanup necessitated by leaking underground storage tanks, excavation and/or backfill of hazardous substances, pollutants or contaminants, or environmental cleanup responsibilities of any nature whatsoever on, of, or related to any property dedicated to the City in connection with this development. The Developer further agrees to indemnify and hold harmless the City from any claims or actions based directly, indirectly or in any manner on any of the aforementioned environmental risks brought against the City by third parties arising as a result of the dedication of portions of the Property to the City in connection with this development. Said indemnification shall not extend to claims, actions or other liability arising as a result of any hazardous substance, pollutant or contaminant generated or deposited by the City. its agents or representatives, upon portions of the Property dedicated to the City in connection with this development. The City agrees to give notice to the Developer of any claim made against it to which this indemnity and hold harmless agreement by the Developer could apply, and the Developer shall have the right to defend any lawsuit based on such claim and to settle any such claim provided Developer must obtain a complete discharge of all City liability through such settlement. Failure of the City to give notice of any such claim to the Developer within ninety (90) days after the City first receives a notice of such claim under the Colorado Governmental Immunity Act for the same, shall cause! this indemnity and hold harmless agreement by the Developer to not apply to such clairn and such failure shall constitute a release of this indemnity and hold harmless agreement as to such claim. II. Special Conditions A. Water Lines Not Applicable B. Sewer Lines Not Applicable 0 C. Storm Drainage Lines and Appurtenances 1. The Developer and the City agree that all on -site and off -site storm drainage improvements for Phase 1, as shown on the approved final development plan documents, shall be completed by the Developer in accordance with said final development plan documents prior to the issuance of more than 3 building permits in Phase 1. Completion of improvements shall include the certification by a professional engineer licensed in Colorado that the drainage facilities which servethis Phase havebeen constructed in conformance with said final development plan documents. Said certification shall be submitted to the City at least two weeks prior to the date of issuance of more than 3 building permits in Phase 1. The Developer and the City agree that all on -site and off -site storm drainage improvements for Phase 2, as shown on the approved final development plan documents, shall be completed by the Developer in accordance with said final development plan documents prior to the issuance of more than 10 building permits in Phase 2. Improvements shall include, but shall not be limited to an off -site storm drain line, a water quality pond and a water quality outlet system. Completion of improvements shall include the certification by a professional engineer licensed in Colorado that the drainage facilities which serve this Phase have been constructed in conformance with said final development plan documents. Said certification ;shall be submitted to the City at least two weeks prior to the date of issuance of any more than 10 building permits in Phase 2. The Developer and the City agree that all on -site and off -site storm drainage improvements, as shown on the approved final development plan documents for Phase 3, shall be completed by the Developer in accordance with said final development plan documents prior to the issuance of more than 10 building permits in Phase 3. Improvements shall include, but shall not be limited to an off -site storm drain line, a water quality pond and a water quality outlet system. Completion of improvements shall include the certification by a professional engineer licensed in Colorado that the drainage facilities which serve this Phase have been constructed in conformance with said final development plan documents. Said certification shall be submitted to the City at least two weeks prior to the date of issuance of any more than 10 building permits in Phase 3. The Developer and the City agree that all on -site and off -site storm drainage improvements for Phase 4, as shown on the approved final development plan documents, shall be completed by the Developer in accordance with said final development plan documents prior to the issuance of more than 12 building permits in Phase 4. Completion of improvements shall include the certification by a professional engineer licensed in Colorado that the drainage facilities which serve this Phase have been constructed in conformance with said final development plan documents. Said certification shall be submitted to the City at least two weeks prior to the date of issuance of any more than 12 building permits in Phase 4. The Developer and the City agree that all on -site and off -site storm drainage improvements b1 for Phase 5, as shown on the approved final development plan documents, shall be completed by the Developer in accordance with said final development plan documents prior to the issuance of more than 8 building permits in Phase 5. Completion of improvements shall include the certification by a professional engineer licensed in Colorado that the drainage facilities which serve this Phase have been constructed in conformance with said final development plan documents. Said certification shall be submitted to the City at least two weeks prior to the date of issuance of any more than 8 building permits in Phase 5. 2. Phases 1, 2, and 3 of this development may be constructed at any time because Phases 1, 2, and 3 are not dependent on any other Phase for infrastructure improvements. Construction of Phases 4 and 5 of this development must be done in sequential order and cannot occur until improvements for both Phases 2 and 3 are completed. No building permits will be issued within Phases 4 and 5 until the drainage facilities within the preceding Phases have been completed and the site Certification is approved by the City (i.e. no building permits in Phase 4 will be issued until improvements for Phases 2 and 3 are certified). 3. The Developer agrees to provide and maintain erosion control improvements as shown on the approved final development plan documents to stabilize all over -lot grading in and adjacent to this development. The Developer shall also be required to post a security deposit in the amount of $ 56,287.00 prior to beginning construction to guarantee the proper installation and maintenance of the erosion control measures shown on the approved final development plan documents. Said security deposit(s) shall be made in accordance with the criteria set forth in the City's Storm Drainage Design Criteria and Construction Standards (Criteria). If, at any time, the Developer fails to abide by the provisions of the approved final development plan documents or the Criteria, the City may enter upon the Property for the purpose of making such improvements and undertaking such activities as may be necessary to ensure that the provisions of said plans and the Criteria are properly enforced. The City may apply such portion of the security deposit(s) as may be necessary to pay all costs incurred by the City in undertaking the administration, construction, and/or installation of the erosion control measures required by said plans and the Criteria. In addition, the City shall have the option to withhold building permits and certificates of occupancy, as stated in Paragraph III.D of this Agreement, as it deems necessary in order to ensure that the Developer installs and maintains the erosion control measures throughout the buildout of this development. 4. The Developer and the City agree that it is important that all lots be graded to drain in the configuration shown on the approved final development plan documents. For this reason the following additional requirements shall be followed for building on Lots 1 thru 163 in Block 2. Prior to the issuance of a certificate of occupancy for each of said lots the Developer shall provide the City with certification that the lot has been graded 0 correctly (including the grading of any minor swales, if applicable); the lot corner elevations specified on the approved final development plan documents are correct and in accordance with the approved final development plan documents; and the minimum floor elevation for all buildings constructed on said lot has been completed in accordance with the approved final development plan documents. Said certification shall be completed by a Colorado licensed professional engineer and shall be submitted to the City at least two weeks prior to the date of issuance of the desired certificate of occupancy. 5. The buildings to be constructed on Lots 1 through 12, Block 1 in this development abut certain storm drainage facilities and it is agreed that it is of the utmost importance that no storm water from said facilities enters said buildings. In order to provide the assurance that said buildings on lots 1 through 12, Block 1 are constructed at an elevation that said storm water cannot enter, the approved final development plan documents contain specifications for the minimum elevation for any opening to each such building. Prior to the issuance of a certificate of occupancy for each building on Lots 1 through 12, Block 1, the Developer shall provide certification from a professional engineer licensed in Colorado that the lowest opening to said building is at or above the minimum elevation required on the approved final development plan documents. Said certification is in addition to, and may be done in conjunction with, the site certification described in paragraph II.C.1. above. 6. The Developer shall obtain the City's prior approval of any changes from the approved final development plan documents in grade elevations and/orstorm drainage facility configuration that occur as a result of the construction of houses and/or development of lots, whether by the Developer or other parties. The City reserves the right to withhold the issuance of building permits and certificates of occupancies for this development until the City has approved such changes as being acceptable for the safe and efficient delivery of storm drainage water. 7. The Developer and the City agree that the Developer is obligated to maintain all on -site storm drainage facilities not accepted for maintenance by the City and all off -site storm drainage facilities not accepted for maintenance by the City serving this development and outside of the public rights -of -way. D. Streets. 1. Subject to the conditions of this Agreement, the City agrees to reimburse the Developer for oversizing public street improvements along Lemay Avenue for those portions of said street abutting the Property as shown on the approved final development plan documents. Reimbursement for Lemay Avenue shall be for oversizing the sidewalk from local (access) standards (4.5 feet) to arterial street standards (6 feet). The City shall make reimbursement to the Developer for the aforesaid oversized street improvements in accordance with Section 24-112 of the Code of the City. The Developer agrees and 7 understands that the City shall have no obligation to make reimbursement payments for street oversizing unless funds for such payments shall first have been budgeted and appropriated from the Street Oversizing Fund by the City Council, and the Developer further understands that to the extent that funds are not available for such reimbursement, the City may not, in the absence of the Developer's agreement, require the construction, at the Developer's expense, of any oversized portion of streets not reasonably necessary to offset the traffic impacts of the development. The Developer does hereby agree to construct the aforesaid oversized street improvements with the understanding that the Developer may not be fully reimbursed by the City for the cost of such construction. The Developer further agrees to accept payment in accordance with Section 24-112 (d) of the Code of the City as full and final settlement and complete accord and satisfaction of all obligations of the City to make reimbursements to the Developer for street oversizing expenses. It is anticipated by the City that the City's reimbursement, in accordance with Section 24-112 (d), would not be less than fifty percent (50%) of the Developer's actual expenses incurred and will be calculated in accordance with the formula as set forth in Section 24-112 (d). 2. It is understood that the improvements that are to be constructed in the public right-of-way as described in this Section II(D) are "City improvements" (as defined below) and, as such, any contract for the construction of the same must be executed in writing. If the cost of such improvements exceeds the sum of Thirty Thousand Dollars ($30,000), the contract for the construction of the same must be submitted to a competitive bidding process resulting in an award to the lowest responsible bidder; and evidence must be submitted to the City prior to the commencement of the work showing that the award was given to the lowest responsible bidder. If the cost of such improvements exceeds Fifty Thousand Dollars ($50,000), the contract for the construction of the improvements must be insured by a performance bond or other equivalent security. For purposes of this paragraph, the term "City improvements" shall mean either (1) existing improvements owned by the City that are to be modified or reconstructed, or (2) any improvements funded in whole or in part by the City 3. Phases 1, 2, and 3 of this development may be constructed at any time because Phases 1, 2, and 3 are not dependent on any other Phase for imfrastructure improvements. Construction of Phases 4 and 5 of this development must be done in sequential order and cannot occur until improvements for both Phases 2 and 3 are completed. No buiilding permits will be issued within Phases 4 and 5 until the streets and utilities within the preceding Phases have been completed in accordance with Section I.C. of this agreement. 4. If construction of Phase 3 occurs before construction of Phase 2 no building permits for lots 121 through 124, in Phase 3, shall be issued until the street and utility improvements for Phase 2 are completed in accordance with Section LC of this agreement. 5. In order to guarantee the completion of the Developer's share of the E required street improvements to Stanton Creek Drive adjacent to lots 88 and 89 of the Property, the Developer and the City agree that the Developer, instead of constructing said improvements, shall pay for the future construction of said improvements. The amount of said cash shall be equal to the estimated cost to construct said improvements, which estimate shall be prepared by the Developer and approved by the City, plus 15% to cover the cost of construction engineering.. surveying and project management. Said amount shall be paid to the City prior to the issuance of any building permit in Phase 2 of the development. Any interest earned by the City as a result of said deposit shall be the property of the City to cover administration and inflation in order to better assist the City in making reimbursement to the party that constructs said improvements. If the Developer is the party that constructs said improvements, upon completion of said improvements and acceptance of them by the City, the City shall return to the Developer the amount deposited plus any interest earned by the City as a result of said deposit, less 3% of the total amount remaining, (which includes said amount deposited plus the interest earned by the City) to be kept by the City to cover its costs for administration of said deposits. 6. No access to lots 30 and 31 of the Property shall be allowed off of Aruba Lane until the street has been completed with either City approved temporary turnarounds or permanent cul de sacs, or until the street has been extended to become a through street in accordance with City standards. 7. No access to lots 88 and 89 of the Property shall be allowed off of Stanton Creek Drive until the street has been completed with either City approved temporary turnarounds or permanent cul de sacs, or until the street has been extended to become a through street in accordance with City standards. 8. The Developer shall not be issued a building permit for Lot 121 of the Property and no access shall be allowed off of Stanton Creek Drive from lot 121 of the Property with Phase 2 construction as shown in the approved utility plans for this development until Stanton Creek Drive has been completed with either improvements along the full frontage of the lot with a City approved temporary turnaround, or a permanent cul de sac, or alternatively, until Stanton Creek Drive has been extended to become a through street in accordance with City standards. If a temporary turn around is provided, all necessary easements shall be provided prior to acceptance of such turnaround and the issuance of any building permit on lot 121 and allowance of access off of Stanton Creek Drive to lot 121. 9. The Developer and the City agree that the Developer is responsible for all costs for the initial installation of traffic signing and striping for this development related to the development's local street operations. In addition the Developer is responsible for all costs for traffic signing and striping related to directing traffic access to and from the 9