HomeMy WebLinkAboutWATERFIELD PUD FIRST FILING - Filed OA-OTHER AGREEMENTS - 2004-03-12WATERFIELD P.U.D., FIRST FILING
AMENDMENT AGREEMENT NO. 1
THIS AMENDMENT AGREEMENT NO. 1 is made and entered into this day of
1999, by and among THE CITY OF FORT COLLINS, COLORADO, a municipal
corporation, (the "City"); COUNTRY CLUB FARMS L.L.C., a Colorado limited liability company
("Country Club"); BULL RUN LIMITED PARTNERSHIP, an Ohio limited partnership ('Bull
Run"), and REAL ESTATE ADVISORS OF FLORIDA, INC., a Florida corporation ('Advisors").
WHEREAS the parties have all entered into a single agreement captioned DEVELOPMENT
AGREEMENT dated November 16, 1998 ('Development Agreement") for the purpose of
developing certain real property situated in the County of Latimer, State of Colorado (hereinafter
referred to as the "Property") and legally described as follows, to wit:
Waterfield P.U.D., First Filing, located in the Southwest 1/4 of
Section 5, Township 7 North, Range 68 West of the 6" P.M., City of
Fort Collins, County of Latimer, State of Colorado; and
WHEREAS all signatories to the Development Agreement anticipated certain modifications
to the Development Agreement, as stated in the Development Agreement and specifically Exhibit
D thereof, a letter of October 29, 1998 from E. Scott McFadden of Brisben Companies to David
Stringer of the City, which is attached here as Exhibit "A" and incorporated herein by reference; and
WI IEREAS a phasing plan has now been approved by the City providing for two separate
development phases for the Property: (1) Phase 1, a 176-unit, 22-building apartment complex legally
described on Exhibit "B", attached hereto and incorporated herein by reference ('Phase 1 "), which
is owned by Bull Run and is being developed by Advisors, collectively referred to herein as 'Bull
Run"; and (2) Phase 2, consisting of 43 single-family lots legally described on Exhibit "C", attached
hereto and incorporated herein by reference ('Phase 2"), which is owned and being developed by
Country Club.
WHEREAS it is now the desire of the City, Bull Run and Country Club to modify the
Development Agreement in order to define the separate development obligations for Phase I and
Phase 2.
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:
1. Street Improvements. The parties agree to modify the Development Agreement by deleting
in their entirety subparagraphs 1-7, inclusive, of section II. Special Conditions, paragraph D. Streets,
and replacing such subparagraphs with the following five subparagraphs and by renumbering
subparagraphs 8 and 9 thereof to 6 and 7:
4.5 Phase 1 shall comply with the requirements of Ordinances 1 77 and 178. 1998
of the City ("Street Standards") in accordance with the letter agreement dated March 31,
1999 between. the City and Bull Run which is attached hereto as Exhibit "G" and
incorporated herein by reference. Phase ? shall fully comply with the Street Standards,
provided that the City acknowledges that the letter of credit required under the Street
Standards to secure the completion of all City infrastructure need not include the costs of the
water and sewer improvements for Phase 2 which are being provided by special districts and
further acknowledges that the inspections. inspection fees and construction warranties and
guarantees imposed by the Street Standards shall not apply to the construction of such water
and sewer improvements.
APPROVED AS TO CONTENT:
City Engmee
AP P 0 ED AS TO FORM:
Deputy City Attorney
ATTEST:
William,O. lViAen, Secretary
THE CITY OF FORT COLLINS, COLORADO, a
municipal \tea corporation n
By: + ll lL
COUNTRY CLUB FARMS L.L.C., a Colorado
limited liability company
James R. McCor�; A4auag r
REAL ESTATE ADVISORS / LORIDA, INC., a
Florida corporation
William O.
10
BULL RUN" LIINIITED PARTNERSHIP, an Ohio
limited partnership
By: W. O. BRISBEN COMPAMES WEST, INC., a
Florida corporation, Gen$ 4Partner
Be:
ATTEST:
William O. BVsben, Secretary
F'WPCLL'COUNTRYC LUD MEND AOR L2609
William O.
II
President
EXHIBIT
BP.:sBzN COMP_a=s
114CIF / 0! J
October :9. 1998
Mr David Stringer
Engineerin&Department
281 worth C4e2e
Fort Collins, C0\305::
Re Water3eld PUD
Dear Dave:
7600 Ex <w.a[ Ro..
C.NC:NN.n. C.NIC 43249
(3131 419- 19"
FAX ;313).b 2730
City of For Collins
On September 24, 1998, a meeting was held at the Citv of Fort Collins to discuss the
Waterfield PUD First Filing. Attending the meeting were John Crambini of Sycamore
Construction, the general contractor for Bull Run Apartments, Kim Vowell of the Brisben
Companies, the developer of Bull Run Apartments, Lucia Lilev of March and Lilev,
attornev for the developer, James R. McCory of Colorado Land Source, Ltd., the
developer of Water_"teld PL D and David Stringer, representing the City of Fort Collins.
The purpose of the meeting was to discuss and arrive at a solution to enable Brisben to
develop the Bull Run Apartments in view of the fact that certain obligations of the overall
PUD could not be met in a timely fashion, potentially forcing the apartment
development's demise.
The following represents our understanding of the agreements that were reached:
The City agreed that it would immediately prepare a Development Agreement for all
of Waterfield PUD Filing 1. This agreement would be prepared; however, with the
understanding that the City will later approve two separate Development Agreements
dividing improvements and obligations between the single family and multi -family
developments. Such amendment would relieve Brisben of certain of the overall PUD
development requirements that are ultimately required upon development of the
single family portion of the PUD. It was agreed that such action is necessitated so
that Brisben's affordable housing effort is not overly encumbered by development
costs and improvements not benefiting the apartment development.
Brisben will not have to construct County Road 9E adjacent to its property; however,
the City will require that an escrow (at I25% of the cost of the improvement)
guaranteeing the future construction of the road to full City standards be in place prior
to issuance of the first C.O. The escrow amount will be for the ultimate build -out and
will be just for that portion of County Road 9E that is adjacent to the multi -family.
Ii[910N.L OMCp:
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4891 IN9[e[N9[NC[ SnC[ . Surt[ 149 D[NK[. COLO— 90033 . (303) 421-9990 FAX 1303) 432-8661
2322 N W 33[9 Se[[[* Fe. Uuo[[o.L[. Fwub. 33309 . (934) 739-0000 . FAX (9341 739-7363
4031 Ea¢vnv[ P." Dn.[ M.uisw[c, P[NNa•w.Nu 17111 . (717) 361-2555 FAX (717) 361-2360
IAir : Jf
Mr. Dave Smnge-
October 29. 1998
Page 2
• Brisben will construct a 36' paving lane and appurtenances on East Vine Drive from
the intersection of County Road 9E to Merganser Drive. to include the intersection of
Merganser Drive ("Interim Improvements'). The Ciry will require an escrow or cash
payment (at 125% of the cost of the improvement) for the ultimate build -out of East
Vine Drive prior to the issuance of the first C.0_ provided, however, that the cost of
those portions of the Interim Improvements wruch will not need to be removed in
order to build Vine Drive to till) City standards will be deduaed from the escrow
amount and provided further that such escrow will include oniv that portion of Vine
Drive adjacent to Bull Run and will not include the outparceis adjacent tc Vine Drive.
• Brisben will construct full -width pavement and appurtenances (water-, sewer anc
storm) that serve and benefit the apartments on the west side of the apartment
development. The paving, sanitary sewer and water line designed to continue north
on Merganser Drive (serving the single family) will be terminated and plugged at the
north property line of the multi -family parcel (approximately Sta. 19-74).
• Bn'sben will construct all downstream sanitary sewer and stormwater facilities in
Vinetn front of the future apartments and in Merganser Road (up to Sta. 19+74)
necessary to serve the apartment project. The stormwater improvements shall include
excavation of the entire detention pond facility and installation of the outfall structure
(Storm Line L). Brisben will install within the pond only the east -west concrete
trickle channel that serves the upstream apartment improvements. The remainder of
the trickle channel (the north -south channel) within the pond will be constructed by
the single-family development (Filing 1, Phase 2 of Waterfield PUD) prior to the
issuance of any building permits for such single-family development.
• Brisben will construct the 24" irrigation line within the apartment development
property and partially across County Road 9E where it will connect to the existing
18" irrigation pipe. The 24" line will be terminated and be plugged at the apartment
property line.
• Bull Run PUD will have no responsibility for the construction and/or escrowing of
funds for off -site street improvements. Such improvements shall be the responsibility lb
of the single-family development (Filing 1, Phase 2 of Waterfield PUD), provided to 3
that the developer of Filing 1, Phase 2 shall have the option of escrowing 125% of the
cost of such off -site street improvements in lieu of construction.-sttozs:_` �, 2ygWA
posted with the City, sus) 4mp;a, oust-46-ee itgle%d prior to the issuance of,,,,,,,,,* y�
the first certificate of occupancy. 0. 5 - R. _
Llie . Of 1
Nir. Dave Stringer
October 29, 1998
Page 3
If the above aco uately represents our agreement, please indicate by signing below.
Sincerely, /
E. :McFadden
Dunctor of Development
Western Region
Read and approved this Zwl day ofW", � 1998.
I: .J -.�-
EXHIBIT "B"
TO
WATERFIELD P.U.D., FIRST FILING
AMENDMENT AGREEMENT NO. 1
Legal Description of Bull Run
Tract D, Waterfield P.U.D., First Filing, City of Fort Collins, County of Larimer, State of Colorado
EXHIBIT "C"
TO
WATERFIELD P.U.D., FIRST FILING
AMENDMENT AGREEMENT NO. I
Legal Description of Phase 2
Waterfield P.U.D., First Filing, City of Fort Collins, County of Larimer, State of Colorado,
excepting therefrom Tract D, Waterfield P.U.D., First Filing
EXHIBIT
W&
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VINE DRIVE IMPROVEMENTS
PHASE 2
FILING 1
3RD FLING
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VINE DRIVE IMPROVEMENTS
PHASE 1
FILING 1
PHASE 2
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ARTERIAL IMPROVEMENTS
NO SCALE
PHASE 1
LAND DESCRIPTION FOR A PORTION OF THE PROPOSED
WATERFIELD P.U.D., SECOND FILING
EEXHIBIT
„E"
That portion of the West Half of Section 5, Township 7 North, Range 68 West
of the 6th P.M.. Larimer County, Colorado, described as follows:
Considering,the South line of the Southwest Quarter of said Section 5 as
bearing North 89'11'26" West and with all bearings contained herein relative
thereto.
Commencing at the South Quarter corner of said Section 5: thence along said
South line of the Southwest Quarter North 89011'26" West; a distance of
300.00 feet; thence continuing along said South line North 89011'26", a
distance of 470.00 feet; thence North 00*48134" East, a distance of 596.71
feet: hence North 89012'00" West, a distance of 146.00 feet: thence South
00.4811**"mist, a distance of 82.22 feet; thence North 89.11'09" West, a
distahob-o f*+254.00 feet; thence South 00044'01" West, a distance of 514.49
feet to said South line of the Southwest Quarter; thence along said South
line North 8901.1'26" West, a distance of 91.13 feet to the True Point of
Beginning; thence North 00'48'34" East, a distance of 85.00 feet to the
beginning of a curve radial to said line; thence Easterly, Northeasterly and
Northerly a distance of 23.58 feet along the curve concave to the Northwest,
having a radius of 15.00 feet and a central angle of 90004'331; thence North
000441010 East tangent to said curve, a distance of 162.01 feet to the
beginning of a curve tangent to said line; thence northerly, northwesterly
and westerly a distance of 23.56 feet along the curve concave to the
southwest, having a radius of 15.00 feet and a central angle of '90'00'00
thence North 00044101" East radial to said curve, a distance of 51..00 feet to
the beginning of a curve radial to said line; thence easterly, northeasterly
and' northerly a distance of 23.56 feet along the curve concave to the
northwest, having a radius of 15.00 feet and a central angle of 90000100";
thence North 00'44'01" East tangent to said curve, a distance of 127.00 feet
to'' toe ', beginning of a curve tangent to said line; thence northerly,
northwesterly and westerly a distance of 23.56 feet along the curve concave
to the `southwest, having a radius of 15.00 feet and a central angle of
90';9.Q'Q,�"__,tQ_a point of cusp; thence North 01044'04" East, a distance -of
51.01 feet to the beginning of a curve concave to the northwest having a
radius of 15.00 feet and a central angle of 87'12'51" and being subtended by
a chord which bears North 47'07'36" East 20.69 feet; 'thence easterly,
northeasterly and northerly along said curve, a distance of 22.83.'feet to a
point of reverse curvature; thence northerly a distance of 182.15 feet along.
the arc?'ot said curve concave to the east having a radius of 738.94 feet and
a central angle of 14"07'24" to a point of cusp on a curve; thence Northerly,
Northwesterly, and Westerly a distance of 23.60 feet along the are of said
curve concave to the southwest having a radius of 15.00 feet and a central
angle of 90'02128" to a point of cusp; thence North 20052'45" East, a
distance of 51.00 feet to the beginning of a curve concave to the northwest
having a radius of 15.00 feet and a central angle of 86'00'22" and being
subtend d by a chord which bears North 64013'15" East 20.46 feet: thence
easterlk.'northeasterly and northerly along said curve, a distance of 22.52
feet to a point of reverse curvature; thence northerly and northeasterly a
distance of 65.20 feet along the arc of said curve concave to the southeast
having a radius of 1157.36 feet and a central angle of 03013'39" to a point
of reverse curvature; thence northeasterly and northerly a distance of
104.89 feet along the arc of said curve concave to the west having a radius
of 1157.36 feet and a central angle of 5611'34" to a point of compound
curvature. thence northerly a distance of 198.82 feet along the arc of said
curve concave to the west having a radius of 721.50 feet and a central angle
of 15047'18" to a point of compound curvature; thence northerly,
northwesterly and westerly a distance of 24.51 feet along the arc of said
curve concave to the southwest having a radius of 13.00 feet and a central
angle of 93'36'41"; thence North 00*00*00" East radial to said Curve, a
distance of 59.00 feet to the beginning of a curve radial to said line;
thdnee easterly, northeasterly and northerly a distance of 24.51 feet along
the curve concave to the northwest. having a radius of 15.00 feet and a
central angle of 93'36'41" to a point of compound curvature, thence northerly
a distance of 98.77 feet along the arc of said curve concave to the west
having a radius of 721.50 feet and a central angle of 07'50'36"; thence North
11027'17" West tangent to said curve, a distance of 106.43 feet to the
begianing.at-a curve tangent to said line; thence northerly and northeasterly
. 4 �qq:: pf. 388.04 feet- along the curve concave to the ea9t, 'hai?i17g; a
radWd•of t28.50 feet and a central angle of 42'04'06"; thence North
30'.36149" East tangent to said curve, a distance of 77.91 feet to the
beginning of a curve tangent to said line; thence northeasterly, northerly
and northwesterly a distance of 22.33 feet along the curve concave to the
west,, having a radius of 15.00 feet and a central angle of'85'17'2$"; thence
North 3.5'19124" East radial to said curve, a distance of 51.00 feet; thence
South.54940'36" East, a distance of 19.71 feet to the beginning of a:curve
tangent to said line; thence southeasterly a distance of 19.17 feetlalong°the
curve concave to the northeast, having a radius of 224.50 feet agd 4 central
angle of 04453131"; thence North 30035'54" East, a distance of 190.9.1 feet
to the centerline of the Larimer and Weld Canal the following,' seven (7)
courses and distances:
1) North 63018156" West, a distance of 104.25 feet.;
2) North 55'57'32" West, a distance of 234.78 feet;
3) North 53049'49" West, a distance of 176.30 feet;
"4)1' ?North 60004'49" West, a distance of 389.00 feet;;
"il''North 70034149" West, a distance of 260.00 feet;
-6) North 61'45149" West, a distance of 418.00 feet;
7) North 52'37'49" West, a distance of 492.00 feet
to 'the i 'line of said Section 5; thence along said West line South
00'25'55" West, a distance of 2957.41 feet; thence South 89034132" East, a
distance of 50.67 feet: thence South 00'25'55" West, a distance of 176.34
feet to the South line of said Southwest Quarter of Section 5; thence along
said South line South 890111260 East, a distance of 1333.81 feet to the True
Point. of Beginning.
MCOEPTING therefrom the following three (3) parcels of land:
"ILD. Streets.
1. East Vine Drive Improvements.
1.1 Phase 1. Prior to the issuance of the first certificate of occupancy for Phase
1, Bull Run shall:
(a) Construct, to an interim design standard, a thirty-six (36) foot wide
paved lane and appurtenances on East Vine Drive from its intersection with County
Road 9E/Timberline Road (CR 9E) westto Merganser Drive, including the northeast,
southeast and northwest legs of the intersection of Merganser Drive and East Vine
Drive to the centerline of Vine Drive ("Interim Improvements"). The Interim
Improvements shall include all tapers and transitions necessary to connect the
proposed roadway improvements to the existing roadway in a manner which is safe
for public use. The Interim Improvements shall also include any related utility and
storm drainage improvements required to be installed in connection with such street
work and shall be constructed in accordance with the approved final development
plan documents for the Property dated October 2, 1998 and approved by the City on
February 5, 1999, including the approved phasing plan therefor dated March 1999
and approved by the City on April 12, 1999 (the 'Final Development Plan
Documents"), as well as Exhibit "D" (depiction of East Vine Drive and County Road
9E street improvements), attached hereto and incorporated herein by reference.
(b) In order to fully satisfy its obligation in connection with that section
of Vine Drive adjacent to Phase 1, Bull Run shall pay to the City an amount equal
to the estimated cost of constructing that section of East Vine Drive adjacent to Phase
I (i.e. excluding the "outparcels" north of Vine Drive: the Ball Property, the Oppie
Property and the Music Property) to full City arterial standards less the cost of the
Interim Improvements. The estimated cost for such payment shall be prepared by
Bull Run's engineer and submitted to the City for its approval, which approval shall
not be unreasonably withheld.
1.2 Phase 2.
1.2.1 Adjacent Improvements. Prior to the issuance of the first certificate
of occupancy for Phase 2, Country Club shall construct, to an interim design
standard, a 36-foot wide paved lane and appurtenances on that section of East Vine
Drive from its intersection with Merganser Drive west to the western boundary line
of the Property.
1.2.2 Off -Site Street Requirements. Country Club, the developer of both
Phase 2 and Waterfield PUD, Second Filing, which has received preliminary plan
approval and which is legally described on Exhibit "E", attached hereto and
2
.t 1i...
<rt+"'Exception No. 1:
OFFSITE DRAINAGE AND GRADING EASEMENT
FOR WATERFIELD P.U.D., FIRST FILING
That portion of the West Half of Section 5. Township 7 North, Range 68 West
of the 6th P.M., Larimer County. Colorado, described as follows.
Considering the South line of the Southeast Quarter of said SSctxon.5 as
bearing North 89011'26" West and with all bearings contained herli�.telkilve
thereto.
C000encing at the South Quarter Corner of said Section 5; thence along said
South-41-ne of the Southwest Quarter North 89011'26" West 1260.51 feet: thence
Northu4QUIR467" East a distance of 85.00 feet: thence North 22036'39" East a
distance of`-A$.16 feet; thence North 89"11'26" West for 360.44 feet; to the
True Point -ot Beginning; thence North 89411'26" West, a distance of 864.54
feet; thence North 00"00'00" East, a distance of 156.36 feet to the beginning
of a curve tangent to said line: thence Northerly a distance of 24.37: feet
along the curve concave to the west, having a radius of 1117.00 feet and a
central angle of 01.05'46": thence South 89011'26" East, a distance of
867.25 feet: thence South 00°48'34" West, a distance of 177.70 feet to the
True Point of Begilnning. Containing 3.532 ACRES, more or less.
$xceptjon No. 2: j
Description for City of Fort Collins Park Site
That portion of the West Half of Section 5, Township 7 North, Range 68 West of the 6th P.M., -
County of Larimer, State of Colorado, described as follows.
Considering the West dine of the Southwest Quarter of said Section 5 as bearing North
00"25'55" Rast"and with all bearings contained herein relative thereto..
Begigain$'at the Southwest corner of said Section 5; thence along said'West line of the
Southwest Quarter North 00025155" East 1241.77 feet; thence South 89034',OS•.East a6.00 feet
to the True Point of Beginning; thence South 89"34'05" East 282.82 feet�,",`then�e .$outh
..36°12•'3V-Enst43.E3 feet; thence South 67040'41" East 214.09 feet: the6E;61outfi 3N21241
East 402.12 feet; thence North 89.33'59' West 714.60 feet to the beginning of a non -tangent
curve concave to the Nqrtheast having a central angle of 11029'12" and a radius of 1033.00.
.the chord of which bea North 05"18'41" West for 206.75 feet; thence Northerly along the arc
r.of said curve 207.10 feet; thence tangent from said curve North 00025155" East 216:07 feet
to the''True Point of Beginning. Containing 6.124 acres more or less.
-) Exception No. 3:
CITY OF FORT COLLINS SCHOOL SITE
A portion of the West Half of Section S. Township 7 North, Range 68 West of the 6th
County of Larimer. State of Colorado.
Considering the West line of the Southwest Quarter of Section 5 as hearing North 00125129"
Bast and•with all bearings contained herein relative thereto.
�:,s --»
Cons RCIMg at the Southwest Corner of said Section 5: thence North 00025159" East, a distance
of 760.00 feet along said West line of the Southwest Quarter of Section 5; thence South
89°33'59" East, a distance of 76.73 feet to the True Point of Beginning; said point being a
Point of cusp on a curve concave to the East having a radius of 1033.00 feet sad.a Central
angle'of'"O1'25120" and being subtended by a chord which bears South 11"45'57" East 25.64
feet; thence Southerly along said curve, a distance of 25.64 feet: thence South 12"28'37"
Basttangent to, said curve, a distance of 244.11 feet to the beginning of a curve tangent to
said line: thence Southerly a distance of 221.81 feet along the curve concave to the West,
having a radius of 1117.00 feet and a central angle of 11022'51". thence South: 89011'26"
East, a distance of 867.25 feet; thence North 89011'34" East, a distanpg.pf,68'.30 feet to a
;.point of cusp on a curve concave to the Northeast having a radius of 60.00 feet and a central
angle of 89959'59" and being subtended by a chord which bears North 44°15'59" West 84.85
feet; thence Westerly, Northwesterly and Northerly along said curve, a distance of 94.25
feet; thence North 00044'01" East tangent to said curve, a distance of 412.87 feet to the
1eginning-of a curve tangent to said line; thence Northerly a distance of 14.56 feet.along
the curve concave to the East, having a radius of 54.50 feet and a central angle of 15*181120
to a point of cusp; 'thence North 89033'59" West, a distance of 967.99 f.&et ,to.,:#ejrue .Point
>-of •ileginning:'''abffta,ining 10.209 ACRES, more or less
The entire parcel described contains 72.934 Acres, more or less.
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AWNUR E. MARI
EllCM A. ULEY
1 ORADFORD MARCH
nam D. ERrrCHEL
Paul Eckman. Esq.
- Deputy City Attorney
City of Fort Collins
300 Laporte Avenue
Fort Collins, Colorado
RE: Bull Run PUD
Dear Paul:
MARCH & LILEY. P.C.
ATTORNEYS AND COUNSELORS AT LAW
110 E. OA[ 9TREEr
FORT CDUINS. COLORADO 9052a:990
MM A924=
FAQ ..970, 492-5719
March :1. 1999
Htut!10-1)
MAR 31 1999
CITY
ARTHUR E. MARCH
19 19l1
VIA HAND DELIVERY
As you know, I represent Bull Run Limited Partnership ("Developer"), the developer of Bull
Run PUD. A dispute has arisen between the Developer and The City of Fort Collins ("City") in
connection with the applicability of Ordinances 177 and 178, 1998, pertaining to development
construction permits, construction inspection fees and extended guarantee and bonding requirements
("Ordinances'), to Bull Run PUD. A settlement agreement has been reached between the City and
the Developer with regard to this issue. This letter will confirm that agreement.
In lieu of full compliance with the Ordinances, the Developer shall comply with the
following terms and conditions:
The Developer will submit an application for a development construction permit.
The permit fee shall be waived in accordance with the Affordable Housing
exemption.
Once application for the development construction permit is made, the Developer
may proceed with all on -site grading, notwithstanding that the permit will not then
have been issued.
_ . The Developer shall call for all required inspections under the Ordinances, but as a
City -certified affordable housing project, it shall be exempt from all inspection fees.
4. No letter of credit or other financial security shall be required to guarantee
completion of the public infrastructure improvements.
5. The Developer will submit a written guarantee for all completed improvements to be
dedicated to the City. which guarantee shall be for a period of two years after City
acceptance of such improvements. No bond or other financial security shall be
required.
Paul Eckman. Esq.
March 31. 1999
Page'_
If the above terms accurately reflect the agreement reached between the City and the
Developer in connection with the Ordinances, please have the Cin 'vlanager sign below- as indicated.
I will then obtain the Developers signature and forward you a copy of the Billy -executed document.
Thank you for ,your assistance in resolving this matter.
LAL/gIr
cc: Bull Run Limited Partnership
Sincerely,
MARCH & LILEY, P.C.
READ AND AGREED:
"CITY"
THE CITY OF FORT COLLINS, COLORADO
By: 0.0- a.
John F. FVchbach, City Manager
"DEVELOPER"
BULL RUN LIMITED PARTNERSHIP
By: W. 0. BRISBEN COMPANIES WEST, INC.,
General Partner
By:
Title:
ESCROW AGREEMENT
"TH
THIS ESCROW AGREEMENT is made and entered into this Q day
of y-,t�(\ y , 1997, by and between Country Club Farms, L.L.C., a
Colorado limited liability company, whose address is c/o Colorado
Land Source Ltd., 8101 E. Prentice Avenue, Suite M180, Englewood,
Colorado 80111 ("Country Club"), and the City of Fort Collins,
Colorado, a municipal corporation, having its principal offices at
300 Laporte Avenue, Fort Collins, Colorado 80521 (the "City").
WITNESSETH:
WHEREAS, Country Club is the owner of a 140.09-acre parcel of
property located in north Fort Collins, more particularly described
on Exhibit "A" attached hereto and incorporated herein by reference
(the "Property"); and
WHEREAS, Country Club has submitted to the City an application
for preliminary approval of the Waterfield P.U.D., a mixed -use
development of the Property; and
WHEREAS, Country Club has agreed to dedicate a 6.124-acre
parcel within the Waterfield P.U.D., described more particularly on
Exhibit "B" attached hereto and incorporated herein by reference,
to the City for public use as a neighborhood park (the "Park
Site"); and
WHEREAS, on January 22, 1997, the City's Parks and Recreation
Board unanimously recommended acceptance of the Park Site by the
City for use as a neighborhood park; and
WHEREAS, the City Attorney for the City has reviewed the title
and Phase I environmental study for the Park Site and is satisfied
that the condition of the property is acceptable to the City for
use as a neighborhood park; and
WHEREAS, the City Attorney has reviewed and approved the form
of the deed dedicating the Park Site to the City (the "Dedication
Deed"), a copy of which is attached hereto and incorporated herein
by reference as Exhibit "C", and the City has agreed to accept
deposit of the Dedication Deed into an irrevocable escrow with the
City Clerk as set forth below.
NOW, THEREFORE, by and in consideration of the above premises
and the within terms and conditions, the parties hereto agree as
follows:
incorporated herein by reference ("Filing 2"), is responsible for all off -site street
improvements for the Property.
Prior to the issuance of the first certificate of occupancy for Phase 2
and prior to the issuance of the first building permit for Filing 2 and in full
satisfaction of its off -site street obligations in connection with Phase 2, Country Club
shall satisfy one of the following conditions, at its sole option:
(a) East Vine Drive. Construction, to an interim design standard,
of a 36-foot wide paved lane and appurtenances on that portion of East Vine
Drive from its future intersection with County Road 11 west to its
intersection with Lemay Avenue ('Vine Drive Off -Site Improvements"); or
(b) County Road 9E. Construction, to an interim design standard,
of a 36-foot wide paved lane and appurtenances on that portion of CR 9E
from its intersection with East Vine Drive south approximately one-half mile
to the improved section of CR 9E ("CR 9E Off -Site Improvements"); or
(c) Participation in City Cost-SharingPolicy. The City is in the
process of finalizing a policy which allocates costs of interim improvements
to CR 9E and County Road 1 I among various developers in northeast Fort
Collins. The preliminary policy documents are attached as Exhibit "F-1 " and
"F-2" ('Cost -Sharing Policy"). The preliminary Cost -Sharing Policy provides
a cost estimate for each segment of CR 9E and proportionately allocates such
cost among the various developers who are participating in such segment,
based on the number of residential dwelling units within each affected
development. Country Club shall have the option of paying to the City the
sum of money allocated to it in accordance with the approved Cost -Sharing
Policy in its final approved form.
1.2.3 Escrow/Payment Options.
(a) In the event that Country Club has not completed the
construction of the Vine Drive Off -Site Improvements or the CR 9E Off -Site
Improvements prior to the issuance of the first certificate of occupancy for
Phase 2 (and has not elected to participate in the Cost -Sharing Policy), in lieu
of such construction, Country Club shall have the option of posting with the
City cash, an irrevocable, non -expiring letter of credit, security bond or other
form of financial security acceptable to the City in the amount of 125% of the
estimated cost to complete the construction of such improvements. The
estimated cost for the Vine Drive Off -Site Improvements is $500,000 and the
estimated cost for the CR 9E Off -Site Improvements is $250,000. The
required off -site street improvements shall be completed prior to the issuance
of the first building permit for Filing 2.
1. Concurrently with the execution of this Escrow Agreement,
Country Club shall deliver to the City the original, fully -executed
Dedication Deed to the City Clerk.
2. The City Clerk shall hold the Dedication Deed in escrow
until notified in writing by Country Club of the occurrence of one
of the following events, at which time the City Clerk shall proceed
as follows:
a. In the event that Country Club does not receive
preliminary approval of the Waterfield P.U.D. and after
all appeal and referendum periods have expired with no
appeal or referendum having been filed by Country Club,
the City Clerk shall return the Dedication Deed to
Country Club and this Escrow Agreement shall be
terminated.
b. In the event that Country Club obtains
preliminary approval of the Waterfield P.U.D. and final
approval of at least one phase of the Waterfield P.U.D.
and after- all appeal and referendum periods have expired
with no appeal or referendum having been filed or, if
timely filed, has resulted in upholding such approval,
then the City Clerk shall deliver the Dedication Deed to
the Office of the Clerk and Recorder of Larimer County,
Colorado for recording in the real property records.
3. All notices or other communications given the parties to
this Escrow Agreement shall be personally delivered to or sent by
express or overnight mail, or by first-class postage prepaid or by
facsimile to the parties at the following addresses, or to any
change of address given in writing by one party to the other:
TO COUNTRY CLUB: James R. McCory, Manager
8101 E. Prentice Ave., Suite M180
Englewood, CO 80111
Telephone: (303) 290-9009
Facsimile: (303) 290-9097
WITH COPY TO: Lucia A. Liley, Esq.
March & Myatt, P.C.
110 East Oak St., Suite 200
Fort Collins, CO 80524
Telephone: (970) 482-4322
Facsimile: (970) 482-3038
TO THE CITY: Stephen J. Roy, Esq.
City Attorney
300 Laporte Ave.
Fort Collins, CO 80521
Telephone: (970) 221-6520
Facsimile: (970) 221-6327
2
M
4. This Escrow Agreement shall inure to the benefit of, and
be binding upon, the successors and assigns of the parties hereto.
IN WITNESS WHEREOF, the parties have executed this Escrow
Agreement as of the date written above.
COUNTRY CLUB FARMS, L.L.C., a
Colorado limited liability company,
By: -
James R. MZCojoy, Manager
CITY OF FORT COLLINS, COLORADO, a
municipal corporation
By: 6 0 I.
JohrUF. Fischbach, City Manager
APPROVED AS TO FORM:
Carrie Mineart Daggett-, Asi sis ant City Attorney
-
ATTEST:
�f 2
Wanda Krajicek, CitClerk
K
EXHIBIT A
TO ESCROW AGREEMENT BETWEEN
COUNTRY CLUB FARMS, LLC
AND THE CITY OF FORT COLLINS, COLORADO
That portion of the West Half of Section 5, Township 7
North, Range 68 West of the 6th P.M., Larimer County,
Colorado, described as follows:
Considering the South line of the Southwest Quarter of
said Section 5 as bearing North 89111'26" West and with
all bearings contained herein relative thereto.
Commencing at the South Quarter corner of said Section 5;
thence along said South line of the Southwest Quarter
North 89011'26" West 300.00 feet to the True Point of
Beginning; thence continuing along said South line North
89011126" West 470.00 feet; thence North 00048134" East
596.71 feet; thence North 89011126" West 146.00 feet;
thence South 00048134" West 82.22 feet; thence North
89011126" West 254.00 feet; thence South 000441O1" West
514.49 feet to said South line of the Southwest Quarter;
thence along said South line North 89011126" West 1424.94
feet; thence North 00025155" East 176.34 feet; thence
North 89°34132" West 50.67 feet to the West line of said
West Half of Section 5; thence along said West line North
00025155" East 2957.41 feet to the centerline of the
Larimer and Weld Canal; thence said centerline the
following 11 courses and distances:
1)
South
52037149"
East
492.00
feet;
2)
South
61045149"
East
418.00
feet;
3)
South
70034149"
East
260.00
feet;
4)
South
60004149"
East
389.00
feet;
5)
South
53049149"
East
176.30
feet;
6)
South
55057132"
East
234.78
feet;
7)
South
63035157"
East
117.81
feet;
8)
South
83027154"
East
187.84
feet;
9)
North
87045111"
East
295.91
feet;
10)
North
84033109"
East
153.85
feet;
11)
North
74026145"
East
133.23
feet
to the West line of that certain parcel of land as
described at Reception No. 87068478, records of said
County; 'thence along said West line the following four
courses and distances:
1)
South
00000154"
East
54.54
feet;
2)
South
80000154"
East
23.00
feet;
3)
South
00000154"
East
72.00
feet;
4)
South
45000154"
East
70.71
feet
to the East line of said Southwest Quarter of Section 5;
thence along said East line South 00000154" East 1666.00
feet to a point 300.00 feet North of said South Quarter
corner of Section 5; thence parallel with said South line
of the Southwest Quarter of Section 5 North 89011126"
West 300.00 feet; thence parallel with said East line of
the Southwest Quarter of Section 5 South 00000154" East
300.00 feet to the True Point of Beginning. containing
140.094 acres more or less.
EXHIBIT B
TO ESCROW AGREEMENT BETWEEN
COUNTRY CLUB FARMS, LLC
:AND THE CITY OF FORT COLLINS, COLORADO
That portion of the West Half of Section 5, Township 7
North, Range 68 West of the 6th P.M., County of Larimer,
State of Colorado described as follows.
Considering the West line of the Southwest Quarter of
said Section 5 as bearing North 00025155" East and with
all bearings contained herein relative thereto.
Beginning at the Southwest corner of said Section 5;
thence along said West line of the Southwest Quarter
North 00025155" East 1241.77 feet; thence South 89034105"
East 56.00 feet to the True Point of Beginning; thence
South 89c34105" East 282.82 feet; thence South 36012135"
East 73.53 feet; thence South 67040141" East 214.09 feet;
thence South 31002124" East 402.12 feet; thence North
89033159" West 714.60 feet to the beginning of a non -
tangent curve concave to the Northeast having a central
angle of 11029112" and a radius of 1033.00, the chord of
which bears North 05018141" West for 206.75 feet; thence
Northerly along the arc of said curve 207.10 feet; thence
tangent from said curve North 00025155" East 276.07 feet
to the True Point of Beginning. Containing 6.124 acres
more or less.
Necorded at
Reception No
EXEMIT C
o clock _— M. on ---- Book — Page -----
-_ Recorder
I
M
G
0
ut
cam. c
. (a `warrajgy`Deed �
�peclal
is and (tile
THIS DEED It a conveyance of the real property described below, including any ingrrovenlenother nPlnutenmlcas
.foopnrly") from the Indivldurd(s), otporalion(s),partnership(s), of olher enlily(ies) named below as GRAN TOR to the i ndividual(s)
or enlily(Iaa) named below as GRANTEE.
I tin GRANTOR hmoby snlls and cunvvys the ploperly to Ibe GRAN I I E. alld It, GRAN I Oil wan ants the lille nq;Iinal all pelsuns
clnindnp unrfar the (i11AN1Un, ercepl for nny pnrlir,ular nmdels described below undm "Addilinnal Wmlanly Eaceplions," ""it
cnpl for nny of Ihn following, n, nllers estnbhshed fly the GRAN I OR and evidenced by mconted dommoad easements, lights ill
way, minorAl grams, mineral learns. and prolective runvenanls and reslriclions. T he (it 1J1N I Oil does Rol warrant agauat the lira of
the pnneral prnpmly lases for the year of this Deed.
The Specific Terms of This Deed Are:
Grantor: IGive nanm(s) anti Pl arils) of residence', if the spouse of Ibe owner -gran for is loin;rag in Ihls need lu release """o" lead Iigbls, idea ldy
yranue, as hos hand and wife I
Counlly CI_ub Prinns, Idti, a Colorado Ii3nited liability ccnnpany
c/o CrllUrddV band Source Ltd.
III ()I I.. Ili erlticc, Avf,nuc, Suite M].80
FT1,IIew(xill , CO 80111
Grantee (Give neniel+) end adrftelife5). %lalerneal of add1e53. IrICIllfllrlq rlvallrlMe lead UI $IreCt Ell lrrlber, IS remrired )
'I'hc Cily of fort Col fins, Colorado, a mturi.cipa] corration
300 J,apoi to Avenue
Port (,0]1iits, CO 8052E
Form of C"wnership: pl nmre air iwa or nurse oranleev namell. they will he (onselerc(I in lake ns trnaals in crlrnmon unless tile, wa"Is'ln
lnlnl tenancyre words of the same mear ...... are added in the space flow )
Property Description: (bmhrde code" amI stale )
Sec 1?xhibit "A" attached hereto and incorporated herein by reference
Properly Address: llrn9evelopec] property
t alrmrnl nl A delta, anlnlnd Is oplianal_,di,qunle convAeration for Ibis Aced will be prrsumed unless Ibis conveyance is
Consideration' IIhr e
idallde,d as a gilt, in any case Ibis conveyance is absolute, final and unconditional I
Reservellonrfledrlellons: pl wr Gnnrmmnrlrnds to reserve any mberrsl in file properly of In amvey less than be owns. or if the GllANI011
is r"I,,clln(f the GRANTEES "(fill in Iha laoperfy, make apprnprinle aldicabon 1 and uTcorl Ioi atCA
Rr•s(•ivrtt ion; and ras(ment-s 6'scribed on Exhihit "B" attached hereto
hel(�in IF), reference and 1(,S(, ati.ons and resLricLials oI record descrilxYd under
rrlvlditiona] Warranty Exceptions" below. cetons of rec
Additional Warranty Elrceptlonsr)Tllnsi�milarafr(sttr �LTonsaingx>s(,� 11<ynitheegover)t l(,I (a]rlxxiy(ies)
I) z(lnin(I n<lulalious
IIIisdic(iofI ovelr LIle Property; 2) the Lien of yen(-r-a] taxes for -ecordthe. year of4rob'Ctivc
3) all reservations, easements, exceprndigsiTofthe Property by pail
(A)WI Illts; 5) Chose riyhCs, if. any, fthird parties i
l (•cords. May 9 ___-- . Iq 97 —.
Faeudrd by Ihn napalm on ---- Partnership or Assocletlom Signature cleave for Individualist:
srgnalura Cla"V for Corporation,
CounCTy C].ub Fauns, LLC, a Colorado limited liabilit�w an c,an,or
Name of (: or
ranlor' Gorpallou, PerinenMp or Association
By Mana
--
James R. 1eC 4Xy ger
nr — ._—_- c,rniar
Allr+t —.
4Pp1NE RlUsy
SIATF OF COLORADO ss.
COUNTY of TAR]MER ) 9th day rat P7ay S'r'`; 199�•••••.+Lc
Iha Inre9mn(f aislo r,"I was acknowlMOed Wale me this /• RY ••
nr • Janles R. Md'(ry, Manager, Country Clul.) Farms, LLC • •i
WI INrss my hand and olllclnI at "+
rrlminlon eaphes: aY/ l/',7 Nolery Pudic p
My coUC
STATE OF ) ss. ••"••.
COUN Ty OF ) day of COL T1 QOO
the lorrgmng Irrsbument was ecknnwlydgM before me lair
ray yvgnrrs as esitlenl or vice president mcisecretaryur
nnm r bldrvrduel Granlnrl+l nr it Grnnlnr is C^rpmalinn, perinershipor Association.Then idenlil Pr
aureunl secretary of cotrxnatloq or as pariner(s) of parinenhip: or ea aulhoriretl memberlsl of assacialion 1
i tl 1
is
V ' 1 I rr" ••,y h+^ A and nlllclsl +e M.
My cemndvvlen erplres: —
Notary Public
,l
EXHIBIT A
TO SPECIAL WARRANTY DEED
FROM COUNTRY CLUB FARMS, LLC
TO THE CITY OF FORT COLLINS, COLORADO
That portion of the West Half of Section 5, Township 7
North, Range 68 West of the 6th P.M., County of Larimer,
State of Colorado described as follows.
Considering the West line of the Southwest Quarter of
said Section 5 as bearing North 00025155" East and with
all bearings contained herein relative thereto.
Beginning at the Southwest corner of said Section 5;
thence a_Long said West line of the Southwest Quarter
North 00025155" East 1241.77 feet; thence South 89034'05"
East 56.00 feet to the True Point of Beginning; thence
South 89034105" East 282.82 feet; thence South 36012135"
East 73.53 feet; thence South 67040141" East 214.09 feet;
thence South 31002124" East 402.12 feet; thence North
89033159" West 714.60 feet to the beginning of a non -
tangent curve concave to the Northeast having a central
angle of 11029'12" and a radius of 1033.00, the chord of
which bears North 05018141" West for 206.75 feet; thence
Northerly along the arc of said curve 207.10 feet; thence
tangent from said curve North 00025'55" East 276.07 feet
to the True Point of Beginning. Containing 6.124 acres
more or less.
m
EXHIBIT B
Reservations to Special Warranty Deed Between
Country Club Farms, LLC ("Grantor") and
The City of Fort Collins, Colorado ("Grantee")
This Exhibit "B" is an attachment to a Special Warranty Deed
by which the Grantor conveyed that property described on Exhibit
"A" (the "Conveyed Property") to the Grantee. The Grantor reserves
for itself and its successors and assigns, the utility easement
described below:
15-Foot Utility Easement
The West 15 feet of the following -described parcel of
land:
That portion of the West Half of Section 5, Township 7
North, Range 68 West of the 6th P.M., County of Larimer,
State of Colorado described as follows.
Considering the West line of the Southwest Quarter of
said Section 5 as bearing North 00025155" East and with
all bearings contained herein relative thereto.
Beginning at the Southwest corner of said Section 5;
thence along said West line of the Southwest Quarter
North 00025155" East 1241.77 feet; thence South 89034'05"
East 56.00 feet to the True Point of Beginning; thence
South 89034105" East 282.82 feet; thence South 36012135"
East 73.53 feet; thence South 67040141" East 214.09 feet;
thence South 31002124" East 402.12 feet; thence North
89033159" West 714.60 feet to the beginning of a non -
tangent curve concave to the Northeast having a central
angle of 11°29'12" and a radius of 1033.00, the chord of
which beaus North 05018141" West for 206.75 feet; thence
Northerly along the arc of said curve 207.10 feet; thence
tangent from said curve North 00025155" East 276.07 feet
to the True Point of Beginning. Containing 6.124 acres
more or less.
Following this reservation is a map showing the area of the
Conveyed Property and the above -described utility easement which
the Grantor hereby reserves. Subject to City Council approval,
Grantee agrees to grant additional easements and rights -of -way to
Grantor as may reasonably be required to develop its property
adjacent to the Conveyed Property which is more particularly
described as follows (the "PUD Property):
That portion of the West Half of Section 5, Township 7
North, Range 68 West of the 6th P.M., Larimer County,
Colorado, described as follows:
Considering the South line of the Southwest Quarter of
said Section 5 as bearing North 89111'26" West and with
all bearings contained herein relative thereto.
Commencing at the South Quarter corner of said Section 5;
thence along said South line of the Southwest Quarter
North 89011126" West 300.00 feet to the True Point of
Beginning; thence continuing along said South line North
89011126" West 470.00 feet; thence North 00048134" East
596.71 feet; thence North 89011126" West 146.00 feet;
thence South 00048134" West 82.22 feet; thence North
89011126" West 254.00 feet; thence South 00044101" West
514.49 feet to said South line of the Southwest Quarter;
thence along said South line North 39011126" West 1424.94
feet; thence North 00025155" East 176.34 feet; thence
North 89034'32" West 50.67 feet to the West line of said
West Half of Section 5; thence along said West line North
00025155" East 2957.41 feet to the centerline of the
Larimer and Weld Canal; thence said centerline the
following 11 courses and distances:
1)
South
52°37149"
East
492.00
feet;
2)
South
61045149"
East
418.00
feet;
3)
South
70034'49"
East
260.00
feet;
4)
South
60°04'49"
East
389.00
feet;
5)
South
53°49'49"
East
176.30
feet;
6)
South
55°57'32"
East
234.78
feet;
7)
South
63035'57"
East
117.81
feet;
8)
South
83°27'54"
East
187.84
feet;
9)
North
87045111"
East
295.91
feet;
10)
North
84°33109"
East
153.85
feet;
11)
North
74026145"
East
133.23
feet
to the West line of that certain parcel of land as
described at Reception No. 87068478, records of said
County; thence along said West line the following four
courses and distances:
1)
South
00000'54"
East
54.54
feet;
2)
South
80000'54"
East
23.00
feet;
3)
South
00°00'54"
East
72.00
feet;
4)
South
45000'54"
East
70.71
feet
to the East line of said Southwest Quarter of Section 5;
thence along said East line South 00000154" East 1666.00
feet to a. point 300.00 feet North of said South Quarter
corner of Section 5; thence parallel with said South line
of the Southwest Quarter of Section 5 North 89011126"
2
West 300.00 feet; thence parallel with said East line of
the Southwest Quarter of Section 5 South 00000154" East
300.00 feet to the True Point of Beginning. Containing
140.094 acres more or less.
EXCEPTING THEREFROM that portion of the West Half of
Section 5, Township 7 North, Range 68 West of the 6th
P.M., County of Larimer, State of Colorado described as
follows:
Considering the West line of the Southwest Quarter of
said Section 5 as bearing North 00025155" East and with
all bearings contained herein relative thereto.
Beginning at the Southwest corner of said Section 5;
thence along said west line of the Southwest Quarter
North 00025155" East 1241.77 feet; thence South 89034'05"
East 57.00 feet to the True Point of Beginning; thence
South 89034105" East 291.82 feet; thence South 36012135"
East 73.53 feet; thence South 67040141" East 214.09 feet;
thence South 31002124" East 402.20 feet; thence North
89034144" West 734.34 feet; thence North 00025155" East
481.99 feet to the True Point of Beginning. Containing
6.148 acres more or less.
The Grantor shall only have such easement rights as shall be
necessary to meet access, utility or drainage requirements imposed
by the City of Fort Collins in conjunction with the development of
the PUD Property, provided that such easement rights shall not
materially impair the Grantee's intended use of the Conveyed
Property as a public park nor materially diminish the useable area
of such property.
3
(b) In the event that Country Club elects to participate in the City
Cost -Sharing Policy to satisfy its off -site street requirements hereunder, then
Country Club shall make such election prior to the release of the first
building permit for Phase 2, and Country Club's total cost shall be funded in
equal cash payments made to the City with each building permit issued in
Phase 2 and Filing 2.
1.2.4 Prior Construction of Vine Drive Off -Site Improvements or CR 9E
Off -Site Improvements. In the event that, prior to the time Country Club is
obligated either to construct, or escrow the costs of construction of, the Vine Drive
Off -Site Improvements or the CR 9E Off -Site Improvements, a third party has
already commenced construction of, or posted with the City financial security for,
either of such improvements, then Country Club shall be relieved of any obligation
for such off -site street improvements.
1.2.5 Return of Escrow. In accordance with the following provisions, the
City shall return to Country Club the amounts or financial security deposited for such
off -site street improvements plus, if a cash deposit, any interest earned by the City
as a result of such cash deposit and less 3% of such total cash amount remaining
(which includes said amount deposited with the City plus the interest earned by the
City) to be kept by the City to cover its costs for administration of said cash deposit:
(a) If Country Club constructs such street improvements, the
deposit shall be returned to Country Club.
(b) If a successor or assign of Country Club constructs such street
improvements, the deposit shall be returned to Country Club unless such
successor or assign posted the deposit with the City.
1.2.6 Vine Drive Truck Route. In the event that Country Club selects the
Vine Drive Off -Site Improvements to satisfy its off -site street obligation and the City
selects Vine Drive as its "Truck Route" and determines that the Truck Route
improvements will occur within a reasonable timeframe, then Country Club shall
only be obligated to improve that portion of Vine Drive adjacent to the Property from
its intersection with Merganser Drive west to the western boundary line of the
Property (the "Adjacent Improvements"). In such event, the City shall release any
deposit posted by Country Club for the Vine Drive Off -Site Improvements upon a
cash payment by Country Club to the City in the amount of $500,000, less the cost
of the Adjacent Improvements. Such payment shall be in full satisfaction of Country
Club's obligation for off -site street improvements.
In the event that Vine Drive is selected as the "Truck Route" and the
City has received other deposits for the Vine Drive Off -Site Improvements from a
third party or parties, the amount of Country Club's payment to the City for such
4
No Text
improvements shall be proportionately reduced so that each party making a payment
to the City for such improvements is paying only its proportionate share of the total
cost therefor and that the City receives no more than 100% of such cost from all
affected parties.
2. Merganser Drive.
2.1 Phase 1. Prior to the issuance of the first certificate of occupancy for Phase
1, Bull Run shall construct Merganser Drive to full City standards from East Vine Drive to
the north property line of Phase 1 and at that point shall construct a temporary cul-de-sac in
accordance with the Final Development Plan Documents. Said construction shall include
curb, gutter and sidewalk along the Merganser Drive frontage of Phase 1 and appurtenances
(water, sewer and storm sewer) that serve and benefit those apartments on the west side of
Phase 1 as shown on the Final Development Plan Documents. The paving, sanitary sewer
and waterline designed to continue north on Merganser Drive (serving Phase 2) will be
terminated and plugged at the north property line of Phase 1 (approximately Station
19+74.00 on the Final Development Plan Documents).
2.2 Phase 2. Prior to the issuance of the first certificate of occupancy for Phase
2, Country Club shall construct the remaining improvements to Merganser Drive to full City
standards as shown on the Final Development Plan Documents (i.e., excepting out those
improvements to be constructed by Bull Run as specified in subparagraph 2.1 above).
3. CR 9E North Improvements.
3.1 Phase 2. Prior to the issuance of the first certificate of occupancy for Phase
2, Country Club shall either construct the interim improvements to CR 9E from its
intersection with East Vine Drive north to the bridge crossing of the Latimer and Weld Canal
as shown on the Final Development Plan Documents ("CR 9E North Interim Improvements")
or, prior to the issuance of the first building permit for Phase 2, shall elect to pay its allocated
share of such improvements in accordance with the Cost -Sharing Policy in its final approved
form. In the event that Country Club elects the latter option, the total cost allocated to
Country Club shall be funded in equal cash payments made to the City with each building
permit in Phase 2. Regardless of which option Country Club elects, it shall, in addition,
make a cash payment to the City prior to the issuance of the first certificate of occupancy for
Phase 2 equal to 100% of the estimated cost to construct that portion of CR 9E North
adjacent to Phase 2 to full City standards, less the estimated cost of that portion of the CR
9E Interim Improvements adjacent to Phase 2 which will not need to be removed in order for
CR 9E to be constructed to full City standards. The estimated costs referenced in this
subparagraph shall be prepared by Country Club's engineer based on the Final Development
Plan Documents and shall be submitted to the City for its review and approval, which shall
not be unreasonably withheld.
G
3.2 Phase 1. Prior to the issuance of the first certificate of occupancy for Phase
1, Bull Run shall pay to the City cash in the amount of 100% of the estimated cost to
construct that portion of CR 9E North adjacent to Phase 1 to full City standards, less the
estimated cost of that portion of the CR 9E North Interim Improvements adjacent to Phase
I which will not need to be removed in order for CR 9E to be constructed to full City
standards.
Any reduction in the payment made to the City by Bull Run, on account of
interim CR 9E North Interim Improvements required to be constructed or paid by Country
Club, shall be reimbursed in the same amount by Bull Run to Country Club at the time such
payment is made to the City.
3.3 Additional Requirements. Improvements to the aforementioned streets shall
include all tapers and transitions necessary to connect the proposed roadway improvements
to the existing roadways in a manner which is safe for public use. Said improvements shall
include related utility and storm drainage improvements required to be installed in
connection with such street work and shall be in accordance with the Final Development
Plan Documents and Exhibit "D".
4. Remaining Street Obligations. All remaining street improvements required for
development of the Property in accordance with the Final Development Plan Documents (with the
exception of any street improvements internal to Phase 1), or any payment or escrow required in
connection with such remaining street improvements, shall be the obligation of Country Club.
5. Sewer and Stormwater-Related Improvements.
5.1 Phase 1. Bull Run shall construct all downstream sanitary sewer and
stormwater facilities in East Vine Drive along the frontage of Phase 1 and in Merganser
Drive (up to Station 19+74.00 as shown on the Final Development Plan Documents). Such
improvements shall be completed prior to the issuance of the first certificate of occupancy
for Phase 1.
5.2 Phase 2. The remainder of the sanitary sewer and stormwater improvements
in Fast Vine Drive and in Merganser Drive required for development of the Property in
accordance with the Final Development Plan Documents shall be the responsibility of
Country Club to install. Such improvements shall be completed prior to the issuance of the
first certificate of occupancy for Phase 2."
2. Storm Drainage Lines and Appurtenances. The parties agree to modify section II. Special
Conditions, paragraph C. Storm Drainage Lines and Appurtenances, ofthe Development Agreement
by amending subparagraph 5 thereof and adding new subparagraphs 6 and 7 thereto as follows:
Cf7
"II.C. Storm Drainage Lines and Appurtenances.
5. Maintenance of Stormwater Facilities. The parties agree that Bull Run and Country
Club each shall be obligated to maintain all on -site storm drainage facilities not accepted for
maintenance by the City which are located on their respective properties. All off -site storm drainage
facilities serving the Property which are not accepted for maintenance by the City and are located
outside of public rights -of -way shall be permanently maintained by Country Club, with the exception
of the drainage facility crossing Lake Canal which shall be maintained by Country Club for a period
of two (2) years from the date of completion of such crossing or until its acceptance by the City for
maintenance, whichever shall first occur.
6. Detention Pond. Bull Run shall be obligated to excavate the entire detention pond
facility, located within the Property adjacent to East Vine Drive on the south and County Road 11
on the west, and shall further install the outfall structure (Storm Line L as shown on the Final
Development Plan Documents). Within such detention pond, Bull Run shall only be required to
construct the east/west concrete trickle channel, which is necessary to serve the upstream apartment
improvements within Phase 1.
Prior to the issuance of the first building permit for Phase 2, Country Club shall
install the north/south trickle channel which is also located within the detention pond and which
serves Phase 2.
7. Irriaation Line. Bull Run shall install that portion of the new 24-inch irrigation line
which runs through Phase 1 and continues into the CR 9E right-of-way to a point where it will
connect to an existing 18-inch irrigation pipe. The 24-inch line will be plugged at the point where
it exits the north boundary of Phase 1. It shall be Country Club's obligation to complete installation
of the 24-inch line as it runs through Phase 2 and to make any necessary connections to such pipe."
3. Notices. The parties agree to modify the Development Agreement by deleting in its entirety
section III. Miscellaneous, paragraph O. regarding notices, and replacing such paragraph with the
following:
"Any notice, demand and request consent, approval or communication that either party
desires or is required to give to the others shall be in writing and either served personally or sent by
first-class mail, postage prepaid, addressed as follows:
If to the City: Engineering Development Review
City of Fort Collins
281 N. College Avenue
P. O. Box 580
Fort Collins, CO 80522
7
With a copy to: City Attorney's Office
City of Fort Collins
300 Laporte Avenue
P. O. Box 580
Fort Collins, CO 80522
If to Country Club: Country Club Farms, L.L.C.
Attn: James R. McCory
c/o Colorado Land Source, Ltd.
8101 E. Prentice Avenue, Suite M180
Englewood, CO 80111
With a copy to: Lucia A. Liley
March & Liley, P.C.
I10 E. Oak Street, Suite 200
Fort Collins, CO 80524
If to Advisors: Real Estate Advisors of Florida, Inc.
Attn: William O. Brisben
c/o W. O. Brisben Companies, Inc.
7800 East Kemper Road
Cincinnati, OH 45249
With a copy to: Brisben Companies
Attn: Kim Vowell
4891 Independence Street, Suite 277
Wheatridge, CO 80033
If to Bull Run: Bull Run Limited Partnership
Attn: William O. Brisben
c/o W. O. Brisben Companies, Inc.
7800 East Kemper Road
Cincinnati, OH 45249
With copies to: Brisben Companies
Attn: Kim Vowell
4891 Independence Street, Suite 277
Wheatridge, CO 80033
Joseph H.Fonfara
Hasler, Fonfara and Maxwell LLP
125 S. Howes, 6" Floor
P. O. Box 2267
Fort Collins, CO 80522"
N
4. Miscellaneous.
4.1 Except as specifically modified by this Amendment Agreement No. 1 or
otherwise inconsistent with the terms of this Amendment Agreement No. 1, the terms and
conditions of the Development Agreement shall remain in full force and effect and be
binding upon the parties hereto.
4.2 Notwithstanding anything in the Development Agreement to the contrary, it
is agreed and understood by the parties hereto that the obligations of Bull Run and Country
Club under the Development Agreement and this Amendment Agreement No. 1 are
severable and not joint obligations and that neither Bull Run nor Country Club shall be
required to perform any obligations of the other. Bull Run and Country Club shall each be
responsible for performing only those obligations in the Development Agreement and this
Amendment Agreement No. 1, including the various warranties and indemnifications therein,
required for, or related to, their respective phase of development of the Property, and neither
shall be liable to each other or to the City for the failure of one of them to meet such
obligations, provided that, in the event Country Club proceeds with its required infrastructure
improvements for Phase 2 and the Phase 1 improvements have not then been completed by
Bull Run, Country Club shall additionally be obligated to construct Merganser Drive to
Gargeny Drive and that section of Vine Drive adjacent to Bull Run. In such event, Country
Club shall be entitled to reimbursement from Bull Run, or its successors or assigns, for the
cost of such additional improvements in accordance with applicable City Code provisions
for such reimbursements..
4.3 Whenever reference is made to "Developer" in the Development Agreement,
such term shal I mean and be interpreted herein as 'Bull Run" and "Country Club" as separate
developers of Phase 1 and Phase 2, respectively, liable only for obligations related to the
specific development phase of each.
4.4 This Amendment Agreement No. 1 shall not alter, modify, amend or
otherwise change the obligations of Bull Run or Country Club pursuant to any prior written
agreements between the parties, including, but not limited to, the Second Modification
Agreement dated September 18, 1998 between Bull Run and Country Club reaffirming the
financial responsibility of Country Club to Bull Run for the installation of the
"Infrastructure" to the boundaries of Phase 1 and completion of the "Subdivision
Improvements" as defined in the Second Modification Agreement and the Mortgage securing
such obligations dated September 17, 1998, recorded September 18, 1998 at Reception No.
98080764 of the Larimer County, Colorado records, the validity of which is hereby
reaffirmed by Bull Run and Country Club. Bull Run and Country Club expressly
acknowledge that the terms and conditions of the above -referenced agreements and Mortgage
define certain rights and obligations between Bull Run and Country Club and that such
agreements and Mortgage do not in any manner affect the obligations of Bull Run and
Country Club to the City under this Amendment Agreement No. 1.