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Home My WebLink AboutOLD TOWN NORTH AMENDED AGREEMENT NO. 2 - Filed DA-DEVELOPMENT AGREEMENT - 2012-01-06RECEPTION#: 20110080041, 12/21/2011 at 11:02:39 AM, 1 OF 11, R $61.00 TD Pgs: 0 Scott Doyle, Larimer County, CO OLD TOWN NORTH AMENDMENT AGREEMENT NO.2 THIS AMENDMENT AGREEMENT, is made and entered into this _Z,9!�—day ofkqg" 2007, by and between the CITY OF FORT COLLINS, COLORADO, a Municipal Corporation, hereinafter referred to as the "City"; and Old Town North LLC, a Colorado limited liability company, Palladian Homes, Inc., a Colorado corporation, Crystal' Equities Corporation, a Colorado corporation, Modern Realty LLC, a Colorado limited liability company, Larkspur Homes LLC, a Colorado limited liability company, Millhaus, Inc., a Colorado corporation, Merten Homes, Inc., a Colorado corporation, Custer Investments LLC, a Colorado! limited liability company, The Revocable Living Trust of Fredric A. Eidsness, March 19, 2002, hereinafter collectively referred to as the "Developer". WITNESSETH; WHEREAS, the City entered into a Development Agreement with Old Town North LLC (as "Developer") on June 10, 2004, the terms of which govern the development activities of the Developer pertaining to that certain real property situated in the County of Larimer, State of Colorado, (hereafter referred to as the "Property") and legally described as follows, to wit: Old Town North, located in South Half of the Southwest Quarter of Section 1, Township 7 North, Range 69 West of the ¢th P.M., City of Fort Collins, County of Larimer, State of Colorado. WHEREAS, the parties have previously entered into Amendment Agreement No. 1 to the Development Agreement and now they desire to further modify 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 are hereby acknowledged, the parties hereto agree to amend the terms and conditions of the Development Agreement as follows: A. Subheading II (Special Conditions) Paragraph D.5 shall be replaced with the following: z 5. The Developer is responsible for constructing Osiander Street within the right-of-way x dedicated as a part of this Development prior to the issuance of the first building permit in Jaccordance with Section 24-95 of the City Code. However, the parties agree that the construction of this street will not be completed with this Development in order tp minimize the grading within the Dry Creek 100 year floodway. Since the Developer is responsible for the construction of the unbuilt portion of said street and for any costs to remove temporary improvements and rebuild these areas to final design standards, the Developer agrees to design and build the extension prior to the issuance of any building permit in Block 6 (Phase 3), Tract JJ, or Lots 1, 2, 3, 4, 5, 6 of Block 9. The design and construction shall include but not be limited to the future inlet(s), stormdrain line(s), culvert(s), / pavement, subgrade, curb, gutter, sidewalks, crosspans, sidewalk ramps, waterline(s) and street trees. -FA CCA%w5 'CvL�vt�P._v� r19-' Vort Ca\c-tvA5 , Co ��ZZ Donna Merten, President Corporate Seal Custer Investments LLC, a Colorado limited liability company By: Brett Edwards, Manager The Revocable Living Trust of Fredric A. Eidsness, March 19, 2002 UN ATTORNEY'S CERTIFICATION: Fredric A. Eidsness, I hereby certify that this development agreement has n duly executed as required pursuant to Section 3.3.2(B) and that all persons signing this elopment agreement on behalf of a corporate or other entity are duly authorized signatori5,uroer the laws of the State of Colorado. This certification is based upon the records of the Cler d order of Larimer County, Colorado as of the date of a m execution of the amendment en 2 and other information discovered by me through reasonable inquiry. Attorney: r Address: _ Registration Corporate Seal ATTORNEy,S CERTIFICATION: Donna Merten, President Custer Investments LLC, company a Colorado limited liability Brett Edwards, Manager Ar raz i � n q 0 n, `1 --b The Revocable Living Trust of R 19.'aWt- I hereby certify that this development age Section 3.3.2(B) and that all persons signit other entity are duly authorized signat es is based upon the records of the C rk and execution of the amendment reemee reasonable inquiry. Attorney: Address: _ Registration No.: HvLci)h9J °' Iric A. Eidsness, March eem5plttas been duly executed as required pursuant to is development agreement on behalf under the laws of the State of Colorado. This certification corder of Larimer County, Colorado as of the date of 2 and .other information discovered by me through 5 B. Subheading II (Special Conditions) Paragraph I.2 shall be replaced with the following: 2. The Developer shall build the aforesaid regional trail to a width of ten (10) feet in accordance with City trail standards (5" thick, fiber mesh and 21bs/sack Yosemite Brown color) as shown on the Final Development Plan Documents. The Cityshall reimburse the Developer for the cost of two (2) feet of the width of the trail, including the cost of adding the color and fiber mesh for said two (2} foot width, after acceptance of the trail by the City. (The regional trail is the ten (10) foot wide trail that runs from Jerome Street to Redwood Street)., The Developer and the City agree that the Developer has the option to pay for the future construction of the Developer's portion of the eastern approximately 700 feet of Trail in lieu of constructing said improvements. The amount of said cash shall be equal to the estimated cost to construct said improvements (8 foot wide, 5 inch thick trail not including fiber mesh or color), which estimate was prepared by the Developer and approved by the City, and included 15% to cover the cost of construction engineering, surveying and project management. The Developer can elect to take the amount owed for reimbursement for the trail as identified above as credit toward the amount due the City for the Developer's portion of the trail not being constructed at this time. In doing this the resulting balance due to the City is $ 15,500.00. Said amount shall be paid by the Developer to the City prior to the dedication and acceptance of the trail easement to the City for the portion of the trail being constructed. Any interest earned by the City as a result of said deposit shall be the property of the City to cover administration and inflation in order to better assist the City in making reimbursement to the party that constructs said improvements. ' If the Developer is the party that constructs said improvements, upon completion of said improvements and acceptance of them by the City, the City shall return to the Developer the amount deposited plus any interest earned by the City as a result of said deposit, less 3% of the total amount remaining, (which includes said amount deposited plus the interest earned by the City) to be kept by the City to cover its costs for administration of said deposits. Construction of the portion of the trail being constructed by the Developer shall be done in a timely manner; and continuous work, excluding weather related delays, shall be performed. If the City determines that ongoing, continuous construction of the trail is not occurring, the City may withhold building permits and/or certificates of occupancy to ensure performance. Upon completion of dedication of a 30 foot wide trail easement to the City for the portion of Trail constructed, and upon construction by the Developer of the trail as described above and as shown on the Final Development Plan Documents, and upon acceptance by the City of the dedication and the construction, the City shall be responsible for the maintenance of said trail, except for any damage done to said trail by the Lake Canal Company, (and/or its representatives or assignees) in its use of the trail and/or adjacent areas for maintenance, access or any other activities associated with the adjacent Lake Canal, which damage shall be the responsibility of the Developer to repair and/or replace. The Trail Easement shall be dedicated to the City in a format acceptable to the City and the Developer shall be responsible for all costs associated with the preparation of and the payment of any fees associated 2 with the processing and filing of said document. C. All other terms and conditions of the Development Agreement (as amended by Amendment Agreement No. 1) shall remain unchanged and in full force and effect, except as expressly amended in this Amendment Agreement No. 2. IN WITNESS WHEREOF, the parties hereto have executed this agreement the day and year first above written. APPROVED AS TO CONTENT: Engineer• AP OV AST FORM: Deputy City Attomey THE CITY OF FORT CO LINS, OLORADO, a Mu ' i� oration By: City anager DEVELOPER: %- Old Town No h, LL ; a Coloralimited liability company , '.�Jlr,rr��l� .,Monica Swee : M auer/V?rnhpP Palladian Ho es, I ci a Colo ado Corporation ly . \I-- omca , P esiden ATTEST: By: *KatherinLeG4ray,cret Crystal Equities Corporation, a Colorado corporation By: Cleve A. Schenck, President Corporate Seal Modern Realty, LLC, a Colorado limited liability company By: Gary Krantz; Manager Larkspur Homes, LLC, a Colorado limited liability company Michael Bello, Manager Millhaus, Inc., a Colorado corporation By: David Mills, President Corporate Seal Merten Homes, Inc., a Colorado corporation 4 ATTEST: Katherine Gray, Secretary Corporate Seal Corporate Seal Palladian Homes, Inc., a Colorado Corporation By: Monica Sweere, President Crystal Equities Corporation, a Colorado corporation By: Cleve A. Schenck, President Modern Realty, LLC, a Colorado limited liability company By: Gary Krantz, Manager Larkspur Homes, LLC, a Colorado limited liability company Michael Bello, Manager Millhaus, Inc., a Colorado corporation David Mills, President Merten Homes, Inc., a Colorado corporation 4 ATTEST: Katherine Gray, Se ecr tary Corporate Seal Corporate Seal Palladian Homes, Inc., a Colorado Corporation By: Monica Sweere, President Crystal Equities Corporation, a Colorado corporation By: Cleve A. Schenck, President Modern ealty, LLC, a Colorado limited liability company By: I�titN �Y , Manag Larkspur Homes, LLC, a Colorado limited liability company By: Michael Bello, Manager Millhaus, Inc., a Colorado corporation LN David Mills, President Merten Homes, Inc., a Colorado corporation 4 ATTEST: By: Katherine Gray, Secretary Corporate Seal Corporate Seal Palladian Homes, Inc,, a Colorado Corporation By: — Monica Sweere, Presidentre, Crystal Equities Corporation, a Colorado corporation By: Cleve A. Schenck, President Modern Realty, LLC, a Colorado limited liability company By: Gary Krantz, Manager Lar ur Homes, LLC, a Col rado limited liability company B: Michael Bello, r Millhaus, Inc., a Colorado corporation By: David Mills, President Merten Homes, Inc., a Colorado corporation 4 ATTEST: By: Katherine Gray, Secretary Corporate Seal Palladian Homes, Inc., a Colorado Corporation By: _ Monica Sweere, President Crystal Equities Corporation, a Colorado corporation By: Cleve A. Schenck, President Modern Realty, LLC, a Colorado limited liability company By: Gary Krantz, Manager Larkspur Homes, LLC, a Colorado limited liability company Michael Bello, Manager Millhaus, Inc., a Colorado corporation By: j ' David Mills, Pres dent Corporate Seal ��'�•f--; ��"'�� °`'n C� Merten Homes, Inc., a Colorado corporation 4 Donna 1vlerten, President) Corporate Seale Custer Investments LLC, a Colorado limited liability company LIM Brett Edwards, gMan -Manager The Revocable Living Trust of Fredric A. Eidsness, March 19, 2002 Fredric A. Eidsness, Trustee ATTORNEY'S CERTIFICATION: I hereby certify that this development agreement been duly executed as required pursuant to Section 3.3.2(B) and that all persons signin Phil development agreement on behalf of a corporate or other entity are duly authorized signato ' u der the laws of the State of Colorado. This certification is based upon the records of the an order of Larimer County, Colorado as of the date of execution of the amendme greement � . and other information discovered by me through reasonable inquiry. Attorney: Address: IN o. :