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Home My WebLink About20061603.tiff RESOLUTION RE: APPROVE IMPROVEMENTS AGREEMENT ACCORDING TO POLICY REGARDING COLLATERAL FOR IMPROVEMENTS (PUBLIC ROAD MAINTENANCE), ACCEPT FORM OF COLLATERAL, APPROVE SALE RESTRICTION AGREEMENT, AND AUTHORIZE CHAIR TO SIGN ALL NECESSARY DOCUMENTS FOR PHASE 1, LOT 1, OF LYONS 66 PACIFIC COMMERCE PARK,PLANNED UNIT DEVELOPMENT FINAL PLAN, PF #555 - LYONS 66 PACIFIC, LLC WHEREAS,the Board of County Commissioners of Weld County, Colorado, pursuant to Colorado statute and the Weld County Home Rule Charter, is vested with the authority of administering the affairs of Weld County, Colorado, and WHEREAS,on June 25,2003,the Board of County Commissioners approved the application of Lyons 66 Pacific, LLC, 1224 Commerce Court#7, Lafayette, Colorado 80026, for Change of Zone#555,from the C-4(Highway Commercial)Zone District to a PUD(Planned Unit Development) Zone District for 15 Commercial/Industrial lots; and on July 18, 2005, the Department of Planning Services approved a PUD (Planned Unit Development) Final Plan, PF #555, for a 15-lot development with Business Commercial (C-3) and Industrial (I-1) uses in the Mixed Use Development area on the following described real estate, to-wit: NW1/4 of Section 26, Township 3 North, Range 68 West of 6th P.M., Weld County, Colorado WHEREAS,pursuantto certain Conditions of Approval,the Board has been presented with an Improvements Agreement According to Policy Regarding Collateral for Improvements (Public Road Maintenance) between the County of Weld, State of Colorado, by and through the Board of County Commissioners of Weld County, and Lyons 66 Pacific, LLC, with terms and conditions being as stated in said agreement, and WHEREAS,the Board has been presented with a Sale Restriction Agreement, including a Deed of Trust for Lot 1 of Lyons 66 Pacific Commerce Park, conditional upon the applicants providing an Improvements Agreement and Deed of Trust for any other portion of the property or any other lot shown on the plat, and WHEREAS,the Board has been presented with Cashier's Check#101778 from First Bank, 370 17th Street, Denver, Colorado 80202, in the amount of$57,600.00, and WHEREAS,after review, the Board deems it advisable to approve said agreements and accept said Cashier's Check and Deed of Trust, as stated above, copies of which are attached hereto and incorporated herein by reference. 2006-1603 ag: Pt, Pod }P/ L. ri CDs-) PL1670 IMPROVEMENTS AGREEMENT - LYONS 66 PACIFIC, LLC (PF #555) PAGE 2 NOW,THEREFORE,BE IT RESOLVED by the Board of County Commissioners of Weld County, Colorado, that the Improvements Agreement According to Policy Regarding Collateral for Improvements(Public Road Maintenance)between the County of Weld, State of Colorado, by and through the Board of County Commissioners of Weld County, and Lyons 66 Pacific, LLC, be, and hereby is, approved. BE IT FURTHER RESOLVED that Cashier's Check #101778 from First Bank, 370 17th Street, Denver, Colorado 80202, in the amount of$57,600.00, be and hereby is, accepted. BE IT FURTHER RESOLVED by the Board thatthe Sale Restriction Agreement, including a Deed of Trust for Phase 1, Lot 1, of Lyons 66 Pacific Commerce Park, be, and hereby is, approved. The above and foregoing Resolution was,on motion duly made and seconded,adopted by the following vote on the 14th day of June, A.D., 2006. ' B GARD OF ELD COUNTY O COUNTY COMMISSIONERS LORADO ATTEST: j /;V J I (IV � LG 1 J. ile, Chair Weld County Clerk to the :Z r 2,1 �� `�� David E. Long, Pro-Tem BY: De ty Cler to the Board Willi H. Jerke APP AS TO F • 1l �(�n Robert D. Masden unty orney letait a- f t Glenn Vaad Date of signature: 1 Ile Re' 2006-1603 PL1670 e N MEMORANDUM Met �. TO: Board of County Commissioners COLORADO DATE: May 19, 2006 FROM: Kim Ogle, Planning Manager SUBJECT: Lyons 66 Pacific Commerce Park: PUD Final Plat for a 15 Lot development with Business Commercial (C-3) and Industrial ( I-1) uses in the Mixed Use Development area - Case Number PF555 do John Davis, 1210 Commerce Court, #36, Lafayette, CO On February 16, 2006, the Department of Planning Services received a Cashier's Check, for Lyons 66 Pacific Commerce Park PUD, case number PF-555 in the amount of fifty seven thousand six hundred (57,600.00) dollars and no/100s for the completion of Phase 1, Lot 1 of the Lyons 66 Pacific Commerce Park.. Items covered under this Agreement include: Site Grading 2006 $ 1000.00 Street Grading 2006 $ 1000.00 Street Paving 2006 $ 2700.00 Retention Pond - Temporary 2006 $ 500.00 Sanitary Sewer (1 Tap) 2006 $ 750.00 Water Main (includes Bore) 2006 $ 57369.00 Fire Hydrants 2006 $ 1650.00 Landscaping 2006 $ 1000.00 Road Culvert 2006 $ 500.00 Site Utilities 2006 $ 500.00 (Telephone, Gas, Electric) 2006 $ 1500.00 Water Transfer 2006 $ 22,000.00 Total Estimated Cost of Improvements and Supervision $ 57,600.00 The Weld County Attorney, the Department of Public Works and the Department of Planning Services, have determined that the amount of the agreement will be sufficient to complete the work required for the Lyons 66 Pacific Commerce Park PUD for a 15 Lot development with Business Commercial (C-3) and Industrial ( I-1) uses in the Mixed Use Development area; Case Number PF555, and the Department of Planning Services recommends acceptance of this Cashier's Check. (Check number 101778 from First Bank, 370 17th Street, Denver, CO 80202. 2006-1603 WAer kfrn‘l , troi 49 ( -ex, Da. re-iveceir - 4ePo-A—,-) reger,e0 3aa, c&-ikni . 60./ 5 viataft‘,.) - / z7 7W-e le4 .c-erna—te 2 6 f eek Q eyyha-e;4 cif to-e-eAre, 7.2rez 07-2.e •-ze=-n- e(a.(sea%v 3p 3 24 - XS0 -e4/7 clea2epZ Ier i sAe Lr a,lzo t IMPROVEMENTS AGREEMENT ACCORDING TO POLICY REGARDING COLLATERAL FOR IMPROVEMENTS (PUBLIC ROAD MAINTENANCE) E) THIS AGREEMENT,made and entered into this /7 day of_/_(/JP , 20©4, by and between the County of W eld,State of Colorado,acting through its Board of County Commissioners,hereinafter called"County," and Lyons 66 Pacific LLC , hereinafter called"Applicant." WITNESSETH: WHEREAS,Applicant is the owner of,or has a controlling interest in the following described property in the County of Weld, Colorado: A portion of the NW 1/4 of Section 26, Township 3 North, Range 68 West of the 5th P.M. , County of Weld, State of Colorado WHEREAS, a final Subdivision/Planned Unit Development (PUD) Plat of said property, to be known as Lyons 66 Pacific LLC _ has been submitted to the County for approval; and WHEREAS,relevant Sections of the Weld County Code provide that no Subdivision Final Plat,Plan ned Unit Development Final Plat, or Site Plan shall be approved by the County until the Applicant has submitted a Subdivision Improve ments Agreement guaranteeing the construction of the public improvements shown on plans,platsand supporting documents of the Subdivision Final P lat,Planned Unit Development Final Plat,or Site Plan,which improvements,along with a time sche dule for completion, are listed in Exhib its "A" and "B" of this Agreeme nt. NOW,THEREFORE,IN CONSIDERATION OF the foregoing and of the acceptance and approval of said Final Plat, the parties hereto promise,covenant and agree as follows: 1.0 Engineering Services: Applicant shall furnish,at its own expense,all engineering services in connection with the design and construction of the Subdivision or Planned Unit Development improvements listed on Exhibit "A," which is attached hereto and incorporated herein by reference. 1.1 The required engineering services shall be performed by a Professional Engineer and Land Surveyor registered in the State of Colorado,and shall conform to the standards and criteria established by the County for public improvements. 1.2 The required engineering services shall consist of, but not be limited to, surveys, designs,plans and profiles, estimates, construction supervision, and the submission of necessary documents to the County. 1.3 Applicant shall furnish drawings and cost estimates for roads within the Subdivision o r Planned Unit Development to the County for approval prior to the letting of any construction contract Before acceptance of the roads within the Subdivision or PlannedUn it Development by the County,Applicant shall furnish one set of reproducible"as-built"drawings and a final statement of construction cost to the County. 2.0 Rights-of-way and Easements: Before commencing the construction of any improvements herein agreed upon, Applicant shall acquire, at its own expense, good and sufficient rights-of-way and easements on all lands and facilities traversed by the proposed improvements. All such rights-of-way and easements used for the construction of roads to be accepted by the County shall be conveyed to the County and the documents of conveyance shall be furnished to the County for recording. 3.0 Construction: Applicant shall furnish and install, at its own expense, the Subdivision or Planned Unit I 111111 11111 11111 1111111 1111 1111 1111111 11111111 IIII 1111 3403176 07/14/2006 12:39P Weld County, CO 3 of 12 R 0.00 D 0.00 Steve Moreno Clerk& Recorder aeO6 v/‘4.6 Development improvements listed on Exhibit "A," which is attached hereto and incorporated herein by reference,according to the construction schedule set out in Exhibit "B"also attached hereto and incorporated herein by reference. 3.1 Said construction shall be in strictconformance to the plans and drawings approved by the County and the specifications adopted by the County for such public improvements. Whenever a Subdivision or Planned Unit Development is proposed within three miles of an incorporated community located in Weld County or located in any adjacent county, the Applicant shall be required to install improvements in accordance with the requirements and standards that would exist if the plat were developed within the corporate limits of that community. If the incorporated community has not adopted such requirements and standards at the time the Subdivision or Planned Unit Development is proposed, the req uirements and standards of the County shall be adhered to. If both the incorporated community and the County have requirements and standards, those requirements and standards that are more restrictive shall apply. 3.2 Applicant shall employ, at its own expense,a qualified testing company previously approved by the County to perform all testing of materials or construction that is required by the County; and shall furnish copies of test results to the County. 3.3 At all times during said construction, the County shall have the right to test and inspect,or to require testing and inspection of material and work, at Applicant's expense. Any material or work not conforming to the approved plans and specifications shall be removed and replaced to the satisfaction of the County at Applicant's expense. 3.4 Applicant shall furnish proof that proper arrangements have been made for the installation of sanitary sewer or septic systems, water,gas,electric and telephone services. 3.5 Said Subdivision or Planned Unit Development improvements shall be completed, according to the terms of this Agreement, within the construction schedule appearing in Exhibit "B." The Board of County Commissioners, at its option, may grant an extension of the time of completion shown on Exhibit"B" upon application by the Applicant subject to the terms of Section 6 herein. 4.0 Release of Liability: Applicant shall indemnify and hold harmless the County from any and all liability loss and damage County may suffer as a result of all suits,actions or claims of every nature and description caused by,arising from,or on account of said design and construction of improvements,and pay any and all judgments rendered against the County on account of any such suit,action or claim,together with all reasonable expenses and attorney fees incurred by County in defending such suit, action or claim whether the liability, loss or damage is caused by, or arises out of the negligence of the County or its officers, agents, employees, or otherwise except for the liability, loss, or damage arising from the intentional torts or the gross negligence of the County or its employees while acting within the scope of their employment. All contractors and other employees engaged in construction of the improvements shall maintain adequate worker's compensation insurance and public liability insurance coverage, and shall operate in strict accordance with the laws and regulations of the State of Colorado governing occupational safety and health. 5.0 Off-Site Improvements Reimbursement Procedure: The subd ivider,app licant,or owner maybe reimbursed for off-site road improvements as provided in this section when it has been determined by the Board of County Commissioners that the road facilities providing access to the Subdivision or Planned Unit Development are not adequate in structural capacity,width,or functional classification to support the traffic requirements of the uses of the Subdivision or Planned Unit Development. 5.1 The subdivider, applicant, or owner shall enter into an off-site improvements agreement prior to recording the final plat when the subdivider,applicant,or owner expectsto receive reimbursement for part of the cost of the off-site improvements. 5.2 The off-site improvements agreement shall contain the following: 1 111111 11111 ODIUM IIII IIII 1111111 III VIII 1III IIII 3403176 07/14/2006 12:39P Weld County, CO 4 of 12 R 0.00 D 0.00 Steve Moreno Clerk& Recorder The legal description of the property to be served. - The name of the owner(s)of the property to be served. A description of the off-site improvements to be completed by the subdivider,applicant,or owner. The total cost of the off-site improvements. - The total vehicular trips to be generated at build-out by the Subdivision, Resubdivision, or Planned Unit Development,as specified by the ITE Trip Generation Manual,or by special study approved by the Board of County Commissioners. - A time period for completion of the off-site improvements. - The terms of reimbursement. - The current address of the person to be reimbursed during the term of the agreement. - Any off-site improvements agreement shall be made in conformance with the Weld County policy on collateral for improvements. 5.3 If the subdivider, applicant, or owner fails to comply with the improvements agreement, the opportunity to obtain reimbursement under this section is forfeited. 5.4 When it is determined by the Board of County Commissioners that vehicular traffic from a Subdivision,Resubdivision,or Planned Unit Development will use a road improvement constructed under an improvements agreement,the subseq uent subdivider,applic ant,or owner shall reimburse the original subdivider, applicant, or owner, for a portion of the original construction cost. In no event shall the original subdivider, applicant, or owner collect an amount which exceeds the total cost of improvements less the pro rata share of the total trip impacts generated by the original development. Evidence that the original subdivider,applicant, or owner has been reimbursed by the subsequent subdivider, applicant or owner shall be submitted to the Department of Planning Services prior to recording the Subdivision, Resub division,or Planned Unit Development Final Plat. 5.5 The amount of road improvement costs to be paid by the subsequent subdivider, applicant,or owner of a Subdivision, Resubdivision, or Planned Unit Development using the road improvements constructed under a prior improvement agreement will be based upon a pro rata share of the total trip impacts associated with the number and type of dwelling units and square footage and type of nonresidential developments intended to use the road improvement. The amount of road improvement costs shall also consider inflation asmeasured bythe changes in the Colorado Construction Costlndex used by the Colorado Division of Highways. The cost of road improvements may be paid by cash contribution to the poor subdivider, applicant or owner, or by further road improvements which benefit the prior subdivider, applicant, or owner's property. This decision shall be at the sole discretion of the Board of County Commissioners based upon the need for further off-site road improvements. 5.6 The report entitled TRIP GENERATION (Third Edition, 1982) of the institute of Transportation Engineers shall normally be used for calculating a reasonable pro rata share of the road improvement construction costs for all Subdivisions,Resubdivisions, or Planned Unit Developments. A special transportation study shall be used for land uses not listed in the ITE Trip Generation Manual. Any question about the number of trips a Subdivision, Resubd ivision, or Planned Unit Development will generate shall be decided by the County Engineer. 5.7 The term for which the subdivider,applicant,or owner is en titled to reimbursement under the off-site improvements agreement, entered into between the subdivider and the County, is ten years from the date of execution of a con tract for road improvements. 5.8 This provision is not intended to create any cause of action against Weld County or its officers or employees by any subdivider,applicant, or owner for reimbursement, and in no way is Weld County to be considered a guarantor of the moniesto be reimbursed by the subsequent subdividers,applicants, or owners. HIED VIIIV111111IIIIIIIIIIIIIIIIIIIIIIVIIIIIIIIIII 3403176 07/14/2006 12:39P Weld County, CO 5 of 12 R 0.00 0 0.00 Steve Moreno Clerk& Recorder 6.0 Acceptance of Streets for Maintenance by the County: Upon compliance with the following procedures by the Applicant,streets within a Subdivision or Planned Unit Development may be accepted by the County as a part of the County road system and will be maintained and repaired by the County. 6.1 If desired by the County, portions of street improvements may be placed in service when completed according to the schedule shown on Exhibit "B," but such use and operation shall not constitute an acceptance of said portions. 6.2 County may, at its option, issue building permits for construction on lots for which street improvements detailed herein have been started but not completed as shown on Exhibit"B,"and may continue to issue building permits so long as the progress of work on the Subdivision or Planned Unit Development improvements in that phase of the development are satisfactory to the County; and all terms of this Agreement have been faithfully kept by Applicant. 6.3 Upon completion oftheconstructionof streets within a Subdivision or Planned Unit Development and the filing of a Statement of Substantial Compliance, the applicant(s) may request in writing that the County Engineer inspect the streets and recommend that the Board ofCounty Commissioners accept them for partial maintenance by the County. Partial maintenance consists of all maintenance except for actual repair of streets,curbs and gutters, and related street improvements. Not sooner than nine months after acceptance for partial maintenance of streets, the County Engineer shall, upon request by the applicant, inspect the subject streets, and notify the applicant(s) of any deficiencies. The County Engineersh all reinspect the streets after notification from the applicant(s)that any deficiencies have been corrected. If the County Engineer finds that the streets are constructed according to County standards, he shall recommend acceptance of the streets for full maintena nce. Upon a receipt of a positive unqualified recommendation from the County Engineer for acceptance of streets within the development, the Board of County Commissioners shall accept said streets as public facilities and County property, and shall be responsible for the full maintenance of said streets including repair. 7.0 General Requirements for Collateral: 7.1 The value of all collateral submitted to Weld County must be equivalent to One-Hundred percent (100%) of the value of the improvem ents as shown in this Agreem ent. Prior to Final Plat app royal, the applicant shall indicate which of the five types of collateral preferred to be utilized to secure the improvements subject to final approval by the Board ofCounty Commissioners and the execution of this Agreement. Acceptable collateral shall be submitted and the plat recorded within six(6)months of the Final Plat approva I. If acceptable collateral ha s not been submitted within six (6) months then the Final Plat approval and all preliminary approvals shall automatically expire. An applicant may request that the County extend the Final Plat approval provided the cost estimates are updated and the development plans are revised to comply with all current County standards,policies and regulations. The improvements shall be completed within one(1)year after the Final Plat approval(not one year after acceptable collateral is submitted) unless the applicant(s) requests that this Agreement be renewed at least thirty (30) days prior to its expiration and further provides that cost estimates for the remaining improvements are updated and collateral is provided in the amount of One-Hundred percent(100%)ofthe value ofthe improvements remaining to be completed. If improvements are not completed and theagreement not renewed within these time frames,the County,at its discretion,may make demand on allor a portion of thecollateral and take steps to see that the improvements are made. 7.2 The applicant may choose to provide for a phased development by means of designating filings o f a Planned Unit Development Final Plan or Subdivision Final Plan. The applicant would need only to provide collateral for the improvem ents in each filing as approved. The County will place restrictions on those portions ofthe property that are not covered by collateral which will prohibit the conveyance of the property or the issuance of building permits until collateral is provided or until improvements are in place and approved pursuant to the requirements for a Request for Release of Collateral. 7.3 The applicant intends to develop in accordance with Exhibits "A" and "B." The costs of the improvements described in Exhibit "A" will be adjusted higher or lower for the year and quarter in MHO! 11111 111 IIII IIII IIIIIII III VIII IIII IIII 3403176 07/14/2006 12:39P Weld County, CO 6 of 12 R 0.00 D 0.00 Steve Moreno Clerk& Recorder which the contemplated work is being performed based on "The State Highway Bid Price Index" contained in the "Quarterly Cost Report" of The Engineering News-Record as published by The MeG raw-Hill Comp allies. The applicant has provided costestimates for all phases of the development which will be adjusted in accordance with The State Highway Bid Price Index at the time of posting of collateral for each phase. 8.0 Improvements Guarantee: The five types of collateral listed below are acceptable to Weld County subject to final approval by the Board of County Commissioners. 8.1 An irrevocable Letter of Credit from a Federal or State licensed financial institution on a form approved by Weld County. The Letter of Credit shall state at least the following: 8.1.1 The Letter of Credit shall be in an amount equivalent to One-Hundred percent(100%)of the total value of the improvements as set forth in Section 6.0 and Exhibits "A" and "B." 8.1.2 The Letter of Credit shallprovide for payment upon demand to Weld Countyif the developer has not performed the obligations specified in the Improvements Agreement and the issuer has been notified of such default. 8.1.3 The applicant may draw from the Letter of Credit in accordance with the provisions of this policy. 8.1.4 The issuer of the Letter of Credit shall guarantee that, at all times,the unreleased portion of the Letter of Credit shall be equal to a minimum of One-Hundred percent (100%) of the estimatedeosts of completing the uncompleted portions of the required improvements,based on inspections of the development by the issuer. In no case shall disbursement for a general improvement item exceed the cost estimate in the Improvements Agreement (i.e., streets, sewers, water mains and landscaping, etc.). The issuer of the Letter of Credit will sign the Improvements Agreement acknowledging the agreement and its cost estimates. 8.1.5 The Letter of Credit shall specify that fifteen percent (15%) of the total Letter of Credit amount cannot be drawn upon and will remain available to Weld County until released by Weld County. 8.1.6 The Letter of Credit shall specify that the date of proposed expiration of the Letter of Credit shall be either the date of release by Weld County of the final fifteen percent(15%),or one year from the date of Final Plat approval, whichever occurs first. Said letter shall stipulate that, in any event, the Letter of Credit shall remain in full force and effect until after the Board has received sixty (60) days written notice from the issuer of the Letter of Credit of the pending expiration. Said notice shall be sent by certified mail to the Clerk to the Board of County Commissioners. 8.2 Trust Deed upon all or some of the proposed development or other property acceptable to the Board of County Commissioners provided that the following are submitted: 8.2.1 In the event prop erty within the proposed development is used as collateral, an appraisal is required of the property in the proposed development by a disinterested Member of the American Institute of Real Estate Appraisers (M.A.I.) indicating that the value of the property encumbered in itseurrent degreeofdevelopment is sufficient to cover One-Hundred percent(100%)o f the cost of the improvements as set forth in the Improvements Agreement plus all costs of sale of the prop erty. 8.2.2 In the event property other than the property to be developed has been accepted as collateral by Weld County, then an appraisal is required of the property by a Member of the Institute of Real Estate Appraisers (M.A.I.) indicating that the value of the prop erty encumb ered in its current state of development is sufficient to cover One-Hundred percent(100%) of the TIED 1111 11111 1111111 III 11111 IIII IIII 3403176 07/14/2006 12:39P Weld County, CO 7 of 12 R 0.00 D 0.00 Steve Moreno Clerk & Recorder cost of the improvements as set forth in the Improvements Agreement plus all costs of sale of the property. 8.2.3 A title insurance policy insuring that the Trust Deed creates a valid encumbrance which is senior to all other liens and encumbrances. 8.2.4 A building permit hold shall be placed on the encumbered property. 8.3 Escrow Agreement that provides at least the following: 8.3.1 The cash in escrow is at least equal to One-Hundred percent(100%)of the amount specified in the Improvements Agreement. 8.3.2 The escrow agent guarantees that the escrowed funds will be used for improvements as specified in the agreement and for no other purpose and will not release any portion of such funds without prior approval of the Weld County Board of Commissioners. 8.3.3 The escrow agent will be a Federal or state-licensed bank or financial institution. 8.3.4 If Weld County determines there is a default of the Improvements Agreement, the escrow agent,upon req nest by the County,shall release any remaining es crowed funds to the County. 8.4 A surety bond given by a corporate surety authorized to do business in the State of Colorado in an amount equivalent to One-Hundred percent(100%)of the value of the improvements as specified in the Improvements Agreement. 8.5 A cash deposit made with the County equivalent to One-Hundred percent(100%)of the value of the improvements. 9.0 Request for Release of Collateral: Prior to release of collateral for the entire project or for a portion of the project by Weld County, the Applicant must present a Statement of Substantial Compliance from an Engineer registered in the State of Colorado that the projector a portion of the project has been completed in substantial compliance with approved plans and specifications documenting the following: 9.1 The Engineer or his representative has made regular on-site inspections during the course of construction and the construction plans utilized are the same as those approved by Weld County. 9.2 Test results must be submitted for all phases of this project as per Colorado Department of Transportation(CDOT) Schedule for minimum materials sampling,testing and inspections found in CDOT Materials Manual. 9.3 "As-built" plans shall be submitted at the time the letter requesting release of collateral is submitted. The Engineer shall certify that the project "as-built" is in substantial compliance with the plans and specifications as approved, or that any material deviations have received prior approval from the County Engineer. 9.4 The Statements of Substantial Compliance must be accompanied, if appropriate, by a letter of acceptance of maintenance and responsibility by the appropriate utility company, special district or town for any utilities. 9.5 A letter must be submitted from the appropriate Fire Authorityindicating the fire hydrants are in place in accordance with the approved plans. The letter shall indicate ifthe fire hydrants are operational and state the results of fire flow tests. 9.6 The requirements in Sections 9.0 thru 9.5 shall be noted on the final construction plans. 111111I'I'I VIIIIIII' IIIIIIIIIIIIII1 III 11111 IIII IIII 3403176 07/14/2006 12:3913 Weld County, CO 8 of 12 R 0.00 13 0.00 Steve Moreno Clerk& Recorder 9.7 Following the submittal of the Statement of Substantial Compliance and recommendation of acceptance of the streets for partial maintenance by the County, the applicant(s) may request release of the collateral for the project or portion of the project by the Board. This action will be taken at a regularly scheduled public meeting of the Board. 9.8 The request for release of collateral shall be accompanied by"Warranty Collateral" in the amount of fifteen percent (15%) of the value of the improvements as shown in this Agreement excluding improvements fully accepted for maintenance by the responsible govemmental entity,special district or utility company. 9.9 The warranty collateral shall be released to the applicant upon final acceptance by the B oard ofC ounty Commissioners for full maintenance under Section 5.3 herein. 10.0 Public Sites and Open Spaces: When the Board of CountyCommissioners,pursuant to a rezoning,Subdivision or Planned Unit Development,requires the dedication,development and/or reservation of areas or sites other than Subdivision or Planned Unit Development streets and utility easements ofa character,extent and location suitable for public use for parks,greenbelts or schools,said actions shall be secured in accordance with one of the following alternatives,or as specified in the Planned Unit Development plan, if any: 10.1 The required acreage,as may be determined by relevant Sections of the Weld County Code,shall be dedicated to the County or the appropriate school district, for one of the above purposes. Any area so dedicated shall be maintained by the County or school district. 10.2 The required acreage,as determined by relevant Sections of the Weld County Code may be reserved through deed restrictions as open area,the maintenance of which shall be a specific obligation in the deed of each lot within the Subdivision or Planned Unit Development. 10.3 In lieu of land, the County may require a payment to the County in an amount equal to the market value at the time ofFinal Plat submission of the required acreage as determined by relevant Sections of the Weld County Code. Such value shall be determined by a competent land appraiser chosen jointly by the Board and the Applicant. The cash collected shall be deposited in an escrow account to be expended for parks ata later date. 11.0 Successors and Assigns: This Agreement shall be binding upon the heirs,executors,personal representatives, successors and assigns of the Applicant,and upon recording by the County,shall be deemed a covenant running with the land herein described, and shall be binding upon the successors in ownership of said land. HIED 11111 VIII 1111111 llll IIII 1111111 III IIII' IIII I'll 3403176 07/14/2006 12:39P Weld County, CO 9 of 12 R 0.00 0 0.00 Steve Moreno Clerk& Recorder 7 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed on the d and year first above written. �,_/``"J, APPLICANT: 7/LI1/!, APPLICANT$ r�C John Davis TITLE: Manager ff r .,%%%:,, Subscribed and sworn to before me this 1I day of Forvt,, , 200 b . 10 a --'CI T °et., - r . . /9).),, !W/ �� , Illy My Commission expires: /Cc Z% Notary Public 07-01100A � e i•m A tttkof GOA--- ATTEST: ✓/'\�I I / I rI ARD OF COUNTY COMMISSIONERS 12 /� / It t D/COUNTY LORADO 1ViOLK_i_4/t��/r �r '1t61 .'t�"�:Qv�/' Est` T - . Weld County Clerk to the Board ` ` 1 J. Geile , Chair JUN 1 4 2006 eputy CI to the Board APPROVED AS TO FORM: _ y—` • ounty Attorney 111111111111111111111111 IIII IIII 1111111 III 111111 III 101 3403176 07/14/2006 12:39P Weld County, CO 10 of 12 R 0.00 0 0.00 Steve Moreno Clerk& Recorder 8 a066--/ 3 Exhibit "A" Phase 1 Name of Subdivision or Planned Unit Development Lyons 66 Pacific Commerce Park Filing #1 --- Phase 1 --- Lot#1 Location: Southeast corner of Mead Street and Highway 66 Intending to be legally bound, the undersigned Applicant hereby agrees to provide throughout this Subdivision or Planned Unit Development the following improvements. (Lease spaces blank where they do not apply) Improvements Quantity Units Unit Estimated Construction Costs Cost Site grading 500 CY. 2.00 1,000 Street grading—Temp Access off Hwy 66 Allow 1,000 Street base Street paving—Temp Access off Hwy 66 225 SY. 12.00 2,700 Curbs,gutters, and culverts Sidewalk Storm sewer facilities Retention ponds - Temporary Allow 500 Ditch improvements Subsurface drainage Sanitary sewers 1 Service 750 750 Trunk and forced lines Mains Laterals(house connected) On-site sewage facilities On-site water supply and storage Water mains(includes bore) 260 LF 57,369 15,000 w/tap 16" Fire hydrants 1 1,650 1,650 Survey and street monuments and boxes Street lighting Street names Fencing requirements Landscaping 1 Allow 1,000 Park improvements Road culvert 1 Allow 500 Grass lined swale Telephone 1 Allow 500 Gas 1 Allow 500 Electric 1 Allow 500 Water transfer 2 CBT 11,000 22,000 SUB-TOTAL $47,600 Engineering and Supervision Costs $10,000.00 (Testing, inspection, as-built plans and work in addition to preliminary and final plat; supervision of actual construction by contractors) TOTAL ESTIMATED COST OF IMPROVEMENTS AND SUPERVISION $57,600.00 1111111 11111 111111111 1111 1111 1111111 111 111111 III IIII 3403176 07/14/2006 12:39P Weld County, CO 11 of 12 R 0.00 D 0.00 Steve Moreno Clerk& Recorder The above improvements shall be constructed in accordance with all County requirements and specifications, and conformance with this provision shall be determined solely by Weld County, or its duly authorized agent. Said improvements shall be completed according to the construction schedule set out in Exhibit "B." By: 7/C23 Ap icant Applicant 1,14/ • Date: t 7 , 20 0 G Tit /// (If corporation, to be signed by President and attested to by Secretary, together with corporate seal.) AEI 1111111111111111I 111111111111111 III IIIIII III IIII 3403176 07/14/2006 12:39P Weld County, CO 12 of 12 R 0.00 D 0.00 Steve Moreno Clerk & Recorder 10 S /'mss a+ �, \`1i� , may; J — f r- TABOR/NM/T22 bI„\y �?'^1� 4, /4 I\ REMi1L ,-.01'4 .i} MICHAEL A. SHEA ��BA P117 ,rna'oErrven.co uzoz 24 HOUR BANKING(303)274-5000 23-602/1020 DATE FEBRUARY 16, 2006 I PAY TO THE g ORDER OF WELD COUNTY $57,600.00**** l 41ST BANK S7�6001O1._r,.„019crs f e This document has a multi-color background,a micro-print signature line,and a holographic foil title;absence of these features will indicate a copy. CASHIER ' S CHECK • Notice to Customer II this check is lost,stolen,or destroyed within 90 days of the date it is issued,we will not pay or reissue a replacement check without an 10 mde mity bond or other adequate security After 90 days,we will pay or reissue a replacement dmdc �y upon receipt of a properlye cuted declaration of loss form. — t.s• (( i1• 10 17780 i: 10 20060 2 5I: 50 20 20033 6n. AUTHORIZED SIGNATURE C iljn 1 176 SALE RESTRICTION AGREEMENT zz rciTHIS SALE RESTRICTION AGREEMENT ("Agreement") entered this H day of un , 2006 by and between THE COUNTY OF WELD, a body politic and political subdivision of the State of Colorado ("Weld") and LYONS 66 PACIFIC, LLC, a Colorado limited liability company("Lyons 66"); WITNESSETH THAT WHEREAS, Lyons 66 owns the property described in Exhibit A attached hereto and made a part hereof(the "Property"); and WHEREAS, Weld has permitted and Lyons 66 has filed a final Plat ("Plat") with respect to the Property; and WHEREAS, Lyons 66 has provided and Weld has approved an Improvement Agreement with respect to Lot 1 of the Property as shown on the Plat but not with respect to the other lots shown on the Plat; NOW, THEREFORE, the parties hereto agree as follows: 1 . Lyons 66 will not sell or convey any lots other than Lot 1 or portions of the Property except for deeds and dedications for public use, such as street and road rights-of-way, unless it has submitted an Improvement Agreement to Weld which Weld has approved in the reasonable exercise of its governmental powers, duties and authority. 2. Weld may secure performance of this Agreement by a deed of trust ("Deed of Trust"), but upon receipt by Weld of a satisfactory improvement agreement with respect to any other portion of the Property or any other lot shown on the Plat, Weld shall execute and record a Release or Partial Release of this Agreement and the Deed of Trust of Trust. IN WITNESS WHEREOF, the parties hereto have executed this Agreement the date first above written. - County of Weld, State of Colorado E n Lyons 66 Pacific, LLC By: 7 ;V:11 -2" Y da `lj Its: M. J. Geile, Chair, Board of \ ('7 John Davis County Commissioners JUN 1 42 ,� ts: Manager ATTEST: WELD COUNTY CLERK TO THE BOARD AWN! VIII IIIIIII IIII IIII IIIIIII III VIII IIII IIII ooness i } 3403176 07/14/2006 12:39P Weld County, CO BY: l qVe.-LtiCc_ 1 of 12 R 0.00 D 0.00 Steve Moreno Clerk & Recorder DEP TY CLERK TO E BOARD aaoe -//4S STATE OF COLORADO ) ) ss. COUNTY OF ) Subscribed and sworn to before me by 2 P 04V/.S on the 2. y1'iay of leYV14'YL4 P( , 2006. WITNESS MY HAND AND OFFICIAL SEAL. My Commission expires: OG lo •1415 r C?../ TS NotalPublic STATE OF COLORADO ) ) ss. COUNTY OF k,Jgco ) Cam" Subscribed and sworn to before me by f T �* �� T T n the CfW day of cuL1E: , 2006. WITNESS MY HAND AND OFFICIAL SE s;••' PRON.k;'•`. t1OTARy My Commission expires: • PUBL : �-A nTY Public • cr •. •.: My Commission Exports May 15,2010 1111111 11111 11111 1111111 IIII MA HE III HUMID IIII 3403176 07/14/2006 12:39P Weld County, CO 2 of 12 R 0.00 D 0.00 Steve Moreno Clerk & Recorder {00276537/I{ K 1� DEED OF TRUST l� THIS INDENTURE,Made this 2l/ day of March, 2006, between LYONS 66 PACIFIC, LLC whose address is 1224 Commerce Court, #7, Lafayette, Colorado 80026 hereinafter referred to as grantor, and the Public Trustee of the County of Weld, State of Colorado,hereinafter referred to as Public Trustee, WITNESSETH, THAT, WHEREAS, grantor and Weld County have executed a Sale Restriction Agreement dated March ,2006(referred to as the agreement). AND WHEREAS, the grantor is desirous of securing its performance under the agreement. NOW THEREFORE, the grantor, in consideration of the premises and for the purpose aforesaid, does hereby grant, bargain, sell and convey unto the said Public Trustee in trust forever, the following described property, situate in the County of Weld, State of Colorado, to wit: A portion of the Northwest 1/4 of Section 26,Township 3 North,Range 68 West of the 6th P.M.,being more particularly described as follows: Commencing at the North quarter corner of said Section 26; thence South 00'13'00" West a distance of 40.00 feet to a point on the South right-of-way line of Colorado State Highway 66; thence South 89'25'00 West and along the South right-of-way line of Colorado State Highway 66 a distance of 1270.76 feet to the Point of Beginning; thence South 00'13'00 West a distance of 1279.93 feet; thence South 89'25'10"West a distance of 1325.86 feet to a point on the East right-of-way line of Interstate 25; thence Northerly along the East right-of-way line the following three courses: 1. North 00'25'30" East a distance of 206.37 feet; 2. North 16'00'00" East a distance of 1088.80 feet; 3. North 89'59'42" East a distance of 500.89 feet to a point on the South right-of-way line of Colorado State Highway 66; thence North 89'25'00" East and the South right-of-way line of Colorado State Highway 66 a distance of 529.35 feet to the Point of Beginning; vacant land; saving and excepting Lot 1 or portions of the Property for deeds and deductions for public use, such as street and road rights-of-way, as shown on the final Plat recorded as County of Weld State of Colorado TO HAVE AND TO HOLD the same, together with all and singular the privileges and appurtenances thereunto belonging: In trust until the full performance by grantor of all of grantor's obligations under the agreement. And the grantor, for itself and its members, personal representatives or assigns covenants and agrees to and with the Public Trustee, that at the time of the ensealing of and delivery of these presents it is well seized of the said land and tenements in fee simple,and has good right, full power and lawful authority to grant,bargain, sell and convey the same in the manner and form as aforesaid;hereby fully and absolutely waiving and releasing all rights and claims he may have in or to said lands, tenements, and property as a Homestead Exemption, or other exemption,under and by virtue of any act of the General Assembly of the State of Colorado,or as any exemption under and by virtue of any act of the United States Congress,now existing or which may hereafter be passed in relation thereto and that the same are free and clear of all liens and encumbrances whatever. The grantor shall and will Warrant and Forever Defend the above bargained property in the quiet and peaceable possession of the Public Trustee,against all and every person or persons lawfully claiming or to claim the whole or any part thereof Until performance of all of grantor's obligations under the agreement, the grantor shall timely pay all taxes and assessments levied on the property. AND THAT IN CASE OF ANY SALE OR CONVEYANCE, of any portion of the Property in violation of the agreement, the lien of this Deed of Trust shall be senior to any sale or conveyance. Such sale or conveyance shall not convey good and marketable title. It is further expressly understood and agreed that all the covenants and agreements herein contained shall extend to and be binding upon the heirs, personal representatives, successors and assigns of the respective parties hereto. Whenever used, the singular number shall include the plural,the plural the singular,and the use of any gender shall be applicable to all genders. Executed this 2 eft day of March,2006. Lyons 66 Pacr LC/ By: ohn Davis Its Manager State of Colorado County of ppN K. l The foregoing instrument was acknowledged bef ,fhtSl'- ✓ ay of I I �Lv'�-�m`-1,2006,by John Davis,Manager, of Lyons 66 Pacific,LLC. ::�° RRRRRH iC j Witness my hand and seal. ?My commission expires: . jtA/Oe2_\m mary Public (00279827/11 �ti ^r . �... _:.� 1111111 I'I'I VIII 1111111 Illl I'll 1111111 III VIII IIII IIII 3403175 07/14/2006 12:38P Weld County, CO 1 ni 1 R n nn n n_nn Steve Moreno Clerk& Recorder Hello