HomeMy WebLinkAboutOVERLAND HILLS - Filed OA-OTHER AGREEMENTS - 2005-05-10RCPTN # 89054483 11/28/89 11:17:32 # OF PATES - 2 FEE 0.n0
11.'RODE4IBER;ER, RECORDER - LARIMER COUNTY CO STATE DOC FFF,- g,0p
THIS AGREEMENT is made and entered into this day of
1989, by and between THE CITY OF FORT COLLINS, COLO-
RADO, a municipal corporation (City), and POUDRE VALLEY CONSTRUC-
TION CO., I;VC. (Poudre Valley).
W I T N E S S E T H:
WHEREAS, Poudre Valley is the owner of the Springfield Subdi-
vision, 6th Filing in Larimer County, Colorado, which subdivision
abuts West Horsetooth Road; and
WHEREAS, during the summer of 1989, the City constructed
approximately 1,300 feet of West Horsetooth Road providing access
to the Springfield Subdivision, 6th Filing; and
WHEREAS, as the owner of said subdivision, Poudre Valley was
obligated, pursuant to an Agreement with Larimer County, to con-
struct said portion of Horsetooth Road prior to commencement of
construction on any of the lots in said subdivision; and
WHEREAS, the cost of construction of the road required by
Larimer County to be constructed by the owner of the subdivision
is stipulated to be in the sum of $20,400.00; and
WHEREAS, the purpose of this Agreement is to ensure that no
construction occur on more than 31 lots in said subdivision until
the sum of $20,400.00 is paid to the City in partial reimburse-
ment of the City's costs in construction of West Horsetooth Road
to the said subdivision.
NOW, THEREFORE, in consideration of the mutual promises of
the parties, and other good and valuable consideration, the
receipt and adequacy of the which are hereby acknowledged, the
parties agree as follows:
1. Poudre Valley, for itself, its heirs, representatives,
successors and assigns, does hereby agree that building permits
shall not be issued for construction on more than thirty-one (31)
lots in the Springfield Subdivision, 6th Filing, Larimer County,
Colorado, and no construction shall commence on more than thirty-
one (31) lots in the Springfield Subdivision, 6th Filing, until
the sum of Twenty Thousand Four Hundred Dollars ($20,400.00) has
been paid to the City in partial reimbursement for the City's
costs in constructing West Horsetooth Road adjacent to said
Springfield Subdivision, 6th Filing.
2. This Agreement shall be deemed to run with the land con-
tained in the Springfield Subdivision, 6th Filing, in Larimer
CITY OF FORT OC!_LIR S
County, Colorado, and shall be binding upon the parties hereto,
their heirs, representatives, successors and assigns. Larimer
County, Colorado, as a third party beneficiary hereof, is author-
ized to withhold the issuance of building permits on any lot in
said subdivision until such time as said payment has been made.
IN WITNESS WHEREOF, the parties hereto have executed this
Agreement the day and year first above written.
ATTEST:�I
City Clerk
APPROVER AS TO FORM:
Deputy City Attorney
ATTEST:
c!�M'Va..01 al-&t
Secretary
THE CITY OF FORT COLLINS, COLORADO
A Municipal Corporation
By: X4-6,V C4 4jap'—__
City Manager
POUDRE VALLEY CONSTRUCTION
CO., INC.
By,
President
111389/whm/poudre.agr
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