HomeMy WebLinkAbout1612 LAPORTE AVENUE - Filed DA-DEVELOPMENT AGREEMENT - 2004-08-12AGREEMENT
THIS ACREEMENT, made and entered into this day of December A.D.
1987, by and between THE CITY OF FORT COLLINS, COLORADO, a Municipal Corpo-
ration, hereinafter referred to as "the City," and KCOL, INC., a
Colorado corporation, hereinafter referred to as "the Developer."
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WHEREAS, the Developer is the owner of certain property situate in the
County of Larimer, State of Colorado, and legally described as follows,
to -wit:
KCOL Radio Station, 1612 LaPorte Avenue, a parcel of land
located in the Northwest 1/4 of Section 10, Township 7
North, Range 69 West of the Sixth P. M., City of Fort
Collins, County of Larimer, State of Colorado.
WHEREAS, the Developer desires to construct an addition to an existing
building on said property and has submitted to the City a site plan and
landscape plan, a copy of which is on file in the Office of the City
Engineer and made a part hereof by reference: and
WHEREAS, the Developer has received the approval of the City for the
enlargement of a building containing a non -conforming use, for the con-
struction of the said addition; and
W[iEREAS, the parties hereto have agreed that the property will require
the installation of certain street improvements in the future that will
primarily of benefit to the property and not to the City of Fort Collins as
a whole; and
WHEREAS, the City has approved the site plan and landscape plan
submitted by the Developer subject to certain requirements and conditions
which involve the installation of and construction of improvements in
connection with said lands.
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, it is agreed as follows:
1. The Developer and the City agree that no street over -
sizing reimbursement is due the Developer for this
development.
2. The Developer agrees to dedicate to the City a strip
of land 4 feet wide along the LaPorte Avenue frontage
of the property (approximately 100 feet in length),
for the purposes of constructing LaPorte Avenue to
collector standards. Said dedication shall be made
at the time the street improvements to LaPorte Avenue
are required by the City.
3. The Developer further agrees to complete, or pay the
cost of completion of the construction of the "local"
portion of LaPorte Avenue abutting the subject prop-
erty, in accordance with City Standards, at such
future time that the City requires that the improve-
ments be installed. Said improvements shall include
but not be limited to fill, pavement, curb, gutter
and sidewalk. It is anticipated that (without build-
ing effect) said improvements shall be constructed as
a part of a larger street construction project invol-
ving more than just the subject property and adjacent
street.
4. The City may withhold such building permits and cer-
tificates of occupancy as it deems necessary to
ensure performance hereof.
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5. This Agreement shall run with the real property
herein above described and shall be binding upon the
parties hereto, their personal representatives,
heirs, successors, grantees and assigns. Assignment
of interest within the meaning of this paragraph
shall specifically include, but not be limited to, a
conveyance or assignnent of any portion of the Devel-
oper's real or proprietary interest in the real prop-
erty herein after described, as well as any assign-
ment of the Developer's rights to develop such prop-
erty under the terms and conditions of this Agree-
ment.
6. Tn the event the Developer herein after transfers
title to such real property and is thereby divested
of all equitable and legal interest in said property,
the City hereby agrees to release said Developer from
liability under this Agreement with respect to any
breach of the terns and conditions of this Agreement
occurring after the date of any such transfer of
interest. In such event, the succeeding property
owner shall he bound by the terns of this agreanent.
7. Each and every tern and condition of this Agreement
shall be deemed to he a material element thereof. In
the event either party shall fail or refuse to per-
form according to the terms of this Agreement, such
party may be declared in default. In the event a
party has been declared in default hereof, such
defaulting party shall be allowed a period of five
(5) days within which to care 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.
8. In the event of 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 reasonable attorneys' fees and
costs incurred by reason of default. Clothing herein
shall be construed to prevent or interfere with the
City's rights and remedies specified in Paragraph 4
of this Agreement.
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ATTEST:
CityC
APPROVED AS TO FORM:
Ci y pfyji_neer
City Attorney
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ATTEST:
THE CITY OF FORT COLLINS, C'!OOLOORRAADO
A Manic al Coeporat�iS�PG�/�✓✓'
By:
C 1 N
City Manager
KCOL, Inc., a Colorado
Corporation
Pres
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By.
a d Arden,
Vice President
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