HomeMy WebLinkAboutTACO BELL PUD - Filed OA-OTHER AGREEMENTS - 2004-03-02o r 76%
TACO BELL P.O.D.
AMENDMENT AGREEMENT NO.1
TH S AMEN MENT AGREEMENT, made and entered into this
day of ``-,-), of 199__-�, by and between the CITY OF FORT CO LINS,
COLORADO, a municipal corporation, hereinafter referred to as the
"City" and TACO CALIENTE, INC., dba Taco Bell, an Arizona
corporation, hereinafter referred to as the "Developer," is an
amendment to that certain Development Agreement dated the 27th day
of January, 1992, by and between the City and the Developer
"Development Agreement."
WHEREAS, the parties hereto previously executed the
Development Agreement; and,
WHEREAS, the parties are presently desirous of modifying the
Development Agreement;
NOW, THEREFORE, in consideration of the 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:
Subheading II. Special Conditions; section B. Sewer Lines is
hereby amended by the addition of a new paragraph 1 to provide as
follows:
1. The Developer is obligated to pay for the permanent
abandonment of a sewer lateral connection serving the Property from
the 10" sanitary sewer in Prospect Road as shown on the approved
utility plans for this development. Said permanent abandonment
must be completed in Prospect Road at the sanitary sewer main. The
normal process is for the Developer to excavate a trench in
Prospect Road to expose the sewer connection at the main and for
the Developer to pay the City to complete the disconnection.
However, the City has scheduled a capital improvement project to
construct street improvements in Prospect Road adjacent to this
development for the summer of 1994. Therefore, in lieu of
completing said permanent abandonment with this development, the
Developer shall have the option to deposit funds with the City in
the form of cash or non -expiring letter of credit in an amount
sufficient to guarantee the Developer's payment to the City (upon
the City's completion of the permanent abandonment) fo sufficient
funds to cover the costs of the excavation, backfill and compaction
of the trench and the cost for the City staff to complete the
permanent abandonment. Said deposit shall be in the amount of 150%
of the estimated costs and shall be deposited with the City prior
to the issuance of a certificate of occupancy for this development.
Said funds held by the City shall be released to the Developer
following the Developer's payment to the City.
The Developer and the City agree that the Developer shall complete
a temporary abandonment of the aforesaid sewer lateral at the South
L�
property line of the Property in accordance with the approved
utility plans for this development. Said temporary abandonment
shall be considered by the City to be satisfactory until the
abovesaid permanent abandonment can be completed.
Except as herein modified, the Development Agreement shall
continue in full force and effect. This Agreement and the
Development Agreement constitute the entire understanding of the
parties.
IN WITNESS WHEREOF, the parties hereto have set their hands
the day and year first above written.
-CITY CLERK
Ue_ ,.LtL .�a _
APPROVED AS TO CONTENT:
Di ectoror of Engi eer
APPROVFJD) AS TO FORM:
City Attorney
THE CITY OF FORT COLLINS, COLORADO,
a Municipal Corpora n
By:
ity Manager
DEVELOPER:
Taco Caliente,Inc.,
an Arizona corporation
Name:
Title: JAfE
ATTEST:
(corporate seal)
By:
Name: IWICHAEL C. MOLINE
Title: ASSISTANT SECRETPV
REVIEWED BY:
DATE 5 7