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HomeMy WebLinkAboutRIVERSIDE SEVENTH - Filed OA-OTHER AGREEMENTS - 2003-01-24Page is too large to OCR. Page is too large to OCR. Page is too large to OCR. Page is too large to OCR. Page is too large to OCR. d f_R F FMFNT THIS AGREEMENT is made and entered into this day of , 1976, by and between THE CITY OF FORT COLLINS, COLORADO, a municipal corporation, hereinafter sometimes designated as the "City", and RIVERSIDE, LTD., a limited partnership, herein- after sometimes designated as "Developer", WITNESSETH: 1. The individual designated herein as the Developer is the owner of- the property which comprises the plat of Riverside Subdivision, Seventh Filing, hereinafter described. 2. The Developer has submitted to the City for approval a plat designated as Plat of Riverside Subdivision, Seventh Filing, consisting of Lots 1 through 34 shown thereon, said subdivision being situate in Section 18, Township 7 North, Range 68 West of the 6th P.M., in the City. 3. The City has agreed to accept and approve such plat upon certain terms and conditions which are expressed herein. 4. Said plat dedicates (among other easements) a thirty- five foot utility and drainage easement crossing Lot 34 and portions of Lots 32 and 33, and a forty foot utility and drainage easement crossing Lot 11 and a portion of Lots 1 through 10. The easements above described were required by the City in connection c: with Storm Sewer Improvement District No. 16, which district encompasses the lands which are the Riverside Subdivision, Seventh °G () 1 7 5 Filing, and other lands in the vicinity. The City has agreed and does upon the execution of this agreement pay to Developer the sum of Twelve Thousand Dollars ($12,000.00) for this ease- ment. Such payment shall be made to Riverside, Ltd., and Riverside, Ltd., warrants that it is entitled to receive such payment. It: is understood and agreed that the payment of addi- tional compensation for these easements involves additional circumstances and other considerations which all of the parties agree are adequate. Nothing herein contained shall affect the validity of other easements dedicated by the plat and all ease- ments dedicated and shown on the plat are hereby ratified and confirmed by all of the parties hereto. 5. In lieu of requiring the owners of the lands encom- passed in this subdivision to install and pay for an adequate storm drainage system for these properties, the parties agree that storm drainage will be accomplished partially through the completion of the improvements proposed in City of Fort Collins Storm Sewer District No. 16. The Developer hereby agrees to pay its share of the cost of such district by paying the assess- ments to be made on the lands of the Developer pursuant to the proceedings in this district. The Developer hereby specifically waives the limit on amount of assessments which can be made in such district set forth in Section 16-20 of the Code of the City of Fort: Collins and agrees to accept and pay the full -2- assessment to be made through the proceedings in the district. The Developer further understands that the drainage system to be installed in torm Sewer District No. 16 will not be of suf- ficient capacity to handle all storm drainage waters which may be developed after the properties in the subdivision are fully developed, and the Developer agrees to provide on -site retention of storm wagers in accordance with the requirements of Exhibit A attached hereto. It is understood and agreed that such on -site detention will be required to be provided as a condition to the issuance of a building permit for any lot in this subdivision. 6. In lieu of requiring the Developer to install the street improvements on Riverside Drive adjoining the lots in the subdivision, the City has installed the street improvements through Street Improvement District No. 69. The Developer agrees to pay the costs assessed against individual lots in the sub- division through the proceedings in such district and further waives the limit on amount of assessments set forth in Section 16-20 of the Code of the City of Fort Collins and agrees to pay the full amount assessed. 7. Developer agrees that electric service to the lots which comprise the subdivision will be provided by the City of Fort Collins Light and Power Department, and the Developer will install and pay for all facilities needed for such electric service as provided in the standard rules and procedure of the City Electric Department. M11 6 J 8. The provisions of this agreement shall be a covenant running with the land and binding upon the Developer, its successors and assigns, and all persons claiming through it. Developer covenants and agrees to make any conveyance of the lands in the Riverside Subdivision Seventh Filing expressly subject to the provisions of this agreement IN WITNESS WHEREOF, the parties hereto have signed this agreement the day and year first hereinabove written. 'ATTEST,,.", 1 City Clerk THE CITY OF FORT COLLINS, COLORADO By L U t ^ ��__ City Manager RIVERSIDE, LTD., a Limited Partnership E E -4- Page is too large to OCR. Page is too large to OCR. Page is too large to OCR. Page is too large to OCR. Page is too large to OCR. Page is too large to OCR. Page is too large to OCR. Page is too large to OCR.