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Home My WebLink About20041625.tiff RESOLUTION RE: APPROVE IMPROVEMENTS AGREEMENT ACCORDING TO POLICY REGARDING COLLATERAL FOR IMPROVEMENTS(PUBLIC ROAD MAINTENANCE),AUTHORIZE CHAIR TO SIGN, AND ACCEPT FORM OF COLLATERAL FOR PUD FINAL PLAT, PF #1035 - RED BARON DEVELOPMENT, 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 3, 2004, the Department of Planning Services staff approved a PUD Final Plat, PF#1035,for Red Baron Development, LLC, 6900 Weld County Road 39, Fort Lupton, Colorado 80621,for a Final Plat for a PUD Change of Zone from A(Agricultural)to PUD for seven lots with Estate Zone Uses,along with a 79.71-acre and a 5.36-acre agricultural lot on the following described real estate, to-wit: E1/2 E1/2 NE1/4 Section4,Township 1 North;part of the SE1/4 of Section 30 and part of the E1/2 E1/2 of Section 31, Township 2 North; all in Range 65 West of 6th P.M., Weld County, Colorado WHEREAS,pursuant to 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 Red Baron Development, LLC, with terms and conditions being as stated in said agreement, and WHEREAS,the applicant has proposed an Escrow Agreement with Security Title Guaranty Company, 720 East Bridge Street, Brighton, Colorado 80601, with terms and conditions as described in the Financing Statement, a copy of which are attached hereto, and WHEREAS, after review, the Board deems it advisable to approve said agreement and accept the form of the Escrow Agreement as stated above,copies of which are attached hereto and incorporated herein by reference. 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 Red Baron Development, LLC, be, and hereby is, approved. BE IT FURTHER RESOLVED that the proposed Escrow Agreement with Security Title Guaranty Company,720 East Bridge Street, Brighton,Colorado 80601,as described above,be and hereby is, accepted. 2004-1625 PL1706 IMPROVEMENTS AGREEMENT- RED BARON DEVELOPMENT, LLC PAGE 2 The above and foregoing Resolution was,on motion duly made and seconded,adopted by thee owing vote on the 16th day of June, A.D., 2004. e,� � �- /j,\ BOARD OF COUNTY COMMISSIONERS It-f; aiseh W WE COUNTY, COLORADO �� ( li,4114It tit Arr- � Robert D. Masden, Chair ``�i . i '�<s'�,lerk to the Board /// William Jerke, Pro-Tem BY: �Q eputy Clerk to the Board M. ile AP AS TO F . Davi . Long n atorn lenn Vaad Date of signature: 4' 2004-1625 PL1706 IMPROVEMENTS AGREEMENT ACCORDING TO POLICY REGARDING COLLATERAL FOR IMPROVEMENTS % (PUBLIC ROAD MAINTENANCE) THIS AGREEMENT, made and entered into this 5th_day of_April_,2004_, by and between the County of Weld, State of Colorado,acting through its Board of County Commissioners, hereinafter called "County,@ and_Red Baron Development 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: Parcel Number 1 1473006000017 38.5 acres Legal Description:The east''A of the east'''/ of the northeast%of Section 6,Township 1 North, Range 65 West of the 618 P.M. Parcel Number 2 130730000024 85.0 acres Legal Description: Portions of the southeast ' of section 30, and the east 34 of the east % of section 31,Township 2 North,Range 65 West of the 6'"P.M. WHEREAS,a final Subdivision/Planned Unit Development(PUD)Plat of said property,to be known as_Red Baron Estates_has been submitted to the County for approval; and WHEREAS, relevant Sections of the Weld County Code provide that no Subdivision Final Plat, Planned Unit Development Final Plat, or Site Plan shall be approved by the County until the Applicant has submitted a Subdivision Improvements Agreement guaranteeing the construction of the public improvements shown on plans, plats and supporting documents of the Subdivision Final Plat, Planned Unit Development Final Plat,or Site Plan, which improvements, along with a time schedule for completion,are listed in Exhibits AA@ and AB@ of this Agreement. 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 AA,@ 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. 11111111111111111111111III! Until HI 11111111 14 3192868 06/25/2004 01:57P Weld County, CO 1 of 14 R 0.00 D 0.00 Steve Moreno Clerk& Recorder 2004-1625 1.3 Applicant shall furnish drawings and cost estimates for roads within the Subdivision or 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 Planned Unit 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 Development improvements listed on Exhibit AA,@ which is attached hereto and incorporated herein by reference,according to the construction schedule set out in Exhibit AB@ also attached hereto and incorporated herein by reference. 3.1 Said construction shall be in strict conformance 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 requirements 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 AB.@ The Board of County Commissioners, at its option, may grant an extension of the time of completion shown on Exhibit AB@ upon application by the Applicant subiect to the terms of Section 6 herein. 11111111111111111111111 IIII 111111111111 III 11111 IIII IIII . Revised 05/28/2004 3192868 06/25/2004 01:57P Weld County, CO 2 of 14 R 0.00 D 0.00 Steve Moreno Clerk& Recorder 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 subdivider,applicant,or owner may be 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 expects to receive reimbursement for part of the cost of the off-site improvements. 5.2 The off-site improvements agreement shall contain the following: - 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 subsequent subdivider,applicant,or owner shall reimburse the original subdivider,applicant, or 11111111111111111111111 IIII 111111111111 III 11111 IIII IIII . Revised 05/29/2004 3192868 06/25/2004 01:57P Weld County, CO 3 of 14 R 0.00 D 0.00 Steve Moreno Clerk& Recorder 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, Resubdivision, 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 as measured by the changes in the Colorado Construction Cost Index used by the Colorado Division of Highways. The cost of road improvements may be paid by cash contribution to the prior 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, Resubdivision, 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 entitled 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 contract 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 monies to be reimbursed by the subsequent subdividers, applicants, or owners. 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 AB,@ 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 1111111 11111 MEIN IIII 111111111111 III BIM IIII . Revised 05/28/2004 3192868 06/25/2004 01:57P Weld County, CO 4 of 14 R 0.00 0 0.00 Steve Moreno Clerk& Recorder on Exhibit AB,@ 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 of the construction of 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 of County 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 Engineer shall 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 maintenance. 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 improvements as shown in this Agreement. Prior to Final Plat approval,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 of County Commissioners and the execution of this Agreement. Acceptable collateral shall be submitted and the plat recorded within six (6)months of the Final Plat approval. If acceptable collateral has 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%) of the value of the improvements remaining to be completed. If improvements are not completed and the agreement not renewed within these time frames, the County, at its discretion, may make demand on all or a portion of the collateral 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 of a Planned Unit Development Final Plan or Subdivision Final Plan. The applicant would need only to provide collateral for the improvements in each filing as approved. The County will place restrictions on those portions of the 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 11111111111111111111111 �� 111111111111 �� 11111 �� 1111 . Revised 05/28/2004 3192868 06/25/2004 01:57P Weld County, CO 5 of 14 R 0.00 D 0.00 Steve Moreno Clerk& Recorder 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 AA@ and AB.@ The costs of the improvements described in Exhibit AA@ will be adjusted higher or lower for the year and quarter in which the contemplated work is being performed based on AThe State Highway Bid Price Index@ contained in the AQuarterly Cost Report@ of The Engineering News-Record as published by The McGraw-Hill Companies. The applicant has provided cost estimates 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 AA@ and AB.@ 8.1.2 The Letter of Credit shall provide for payment upon demand to Weld County if 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 estimated costs 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 1 111111 11111 11111 111111 IIII 111111111111 III 11111 Revised 05/28/2004 3192868 06/25/2004 01:57P Weld County, CO 6 of 14 R 0.00 D 0.00 Steve Moreno Clerk& Recorder 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 property 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 its current degree of development is sufficient to cover One-Hundred percent(100%) of the cost of the improvements as set forth in the Improvements Agreement plus all costs of sale of the property. 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 property encumbered in its current state of development is sufficient to cover One-Hundred percent(100%)of the 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 request by the County,shall release any remaining escrowed 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. 1111111 11111 11111111111 IIII 111111111111 III 11111 IIII IIII R Revised 05/28/2004 3192868 06/25/2004 01:57P Weld County, CO 7 of 14 R 0.00 D 0.00 Steve Moreno Clerk& Recorder 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 project or 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 Authority indicating the fire hydrants are in place in accordance with the approved plans. The letter shall indicate if the 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. 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 governmental entity, special district or utility company. 9.9 The warranty collateral shall be released to the applicant upon final acceptance by the Board of County Commissioners for full maintenance under Section 5.3 herein. 10.0 Public Sites and Open Spaces: When the Board of County Commissioners, 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 of a 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: IBM IIIII11111111 3192868 06/25/2004 01:57P Weld County, CO • Revised 05/28/2004 8 of 14 R 0.00 D 0.00 Steve Moreno Clerk& Recorder 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 of Final 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 at a 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. IN WITNESS WHEREOF,the parties hereto have caused this Agreement to be executed on the day and year first above written. APPLICANT: Red A. ES fa{PS APPLICANT: /,( l4,t facitAK3 TITLE: &4c oit oC aged d d sworn to before me this2cr day of 200 V. A Poll Po 2/ %,® 1/4 IMArAcpmissi pires: • ^TE in t Public 74 1 1111111111111111 111111 IIII 11111 1111111 III 11111 IIII IIII 3192868 06/25/2004 01:57P Weld County, CO 9 of 14 R 0.00 D 0.00 Steve Moreno Clerk& Recorder Page 9 of 14 Revised 05/28/2004 :m*s,: BOARD OF COUNTY COMMISSIONERS / �� WELD COUNTY,COLORADO i'" .,r ou ` ;rk to the Board Robert D. Masden Chair Pirr` ft , Grp/ 06/16/2004 Deputy Clerk to the Board • APPROVED AS TO FORM: County Atto ey 1 IIIIII IIIII 11111 1111 IIII IIIII RI III 111111 III IIII 3192868 06/25/2004 01:57P Weld County, CO 10 of 14 R 0.00 D 0.00 Steve Moreno Clerk& Recorder Page 10 of 14 . Revised 05/28/2004 q�O�/-//475 EXHIBIT AM Name of Subdivision or Planned Unit Development: Red Baron Estates—PZ 1035 Filing: Location: 6900 WCR 39,Fort Lupton, CO 80621 Intending to be legally bound,the undersigned Applicant hereby agrees to provide throughout this Subdivision or Planned Unit Development the following improvements. (Leave spaces blank where they do not apply.) Improvements Quantity Units Unit Estimated Costs Construction Cost Site grading $ 24 167 , Street grading(included in site grading) Street base $ 22,656 Taxiway paving $ 90,181 Culverts for lots 7 $ 400 $ 2,800 Sidewalk Storm sewer facilities Retention ponds 7 $1,547 $ 10,828 Ditch Improvements Subsurface drainage Sanitary sewers Trunk and forced lines Mains Laterals(house connected) On-site sewage facilities On-site water supply and storage Water Mains(includes bore) Fire Cistern $ 16,500 Survey and street monuments and boxes Street lighting a Street Names—(Parks Lane&Stop Sign $ 330 arm `o Fencing requirements ¢ Landscaping -c.e Park improvements "d Road culvert(included in site grading) -e n Grass lined swale as oo g Telephone(no charge—see attached letter) mrim v Gas line relocation- Duke Energy $ 40,232 3 Electric 7 $5,000 $ 35,000 "aril 0 Water transfer N/A oSUB-TOTAL: $242,694 -C �o c Engineering and Supervision Costs $ um=ge o —o• o (Testing, inspection, as-built plans and work in addition to preliminary and final plat; supervision of actual construction by contractors) � v v- TOTAL ESTIMATED COST OF IMPROVEMENTS AND SUPERVISION $ 242,694 -ae The above improvements shall be constructed in accordance with all County requirements and specifications, r and conformance with this provision shall be determined solely by Weld County,or its duly authorized agent. Page 11 of 14 . Revised 05/28/2004 Said improvements shall be completed according to the construction schedule set out in Exhibit AB.@ By: RAG(^ 49,4r<r F5 AT Applicant i.-1-,f4A2 7:94* Applicant aCt Xiti/Jd c25J/tf Date: , 20 . Title (If corporation,to be signed by President and attested to by Secretary,together with corporate seal.) 11111111111111111111111IIII111111111111III111111��1111 3192868 06/25/2004 01:57P Weld County, Co 12 of 14 R 0.00 D 0.00 Steve Moreno Clerk& Recorder Page 12 of 14 . Revised 05/28/2004 EXHIBIT AB@ Name of Subdivision or Planned Unit Development: Red Baron Estates—PZ1035 Filing: Location: 6900 WCR 39,Fort Lupton,CO 80621 All improvements shall be completed within_I years from the date of approval of the final plat. Construction of the improvements listed in Exhibit AA@ shall be completed as follows: (Leave spaces blank where they do not apply.) Improvements Time for Completion Site grading Spring/Summer 2004 Street grading Spring/Summer 2004 Street base Spring/Summer 2004 Taxiway paving Spring/Summer 2004 Curbs, gutters, and culverts Sidewalk Storm sewer facilities Retention ponds Ditch improvements Subsurface drainage Sanitary sewers Trunk and forced lines Mains Laterals(house connected) On-site sewage facilities On-site water supply and storage Water mains Fire Cistern Spring/Summer 2004 Survey and street monuments and boxes Street lighting Street name signs Spring/Summer 2004 Fencing requirements Landscaping Park improvements Road culvert Grass lined swale Telephone Spring/Summer 2004 Gas line relocation(Duke Energy&Patina) Spring/Summer 2004 Electric Spring/Summer 2004 Water transfer SUB-TOTAL: The County,at its option, and upon the request of the Applicant, may grant an extension of time for completion for any particular improvements shown above, upon a showing by the Applicant that the above schedule cannot be met. 11111111111111111111111 IIII 111111111111 III 111111 III IIII 3192868 06/25/2004 01:57P Weld County, CO 13 of 14 R 0.00 D 0.00 Steve Moreno Clerk& Recorder By: h/ d Applicant Applicant Date: 4 -- / / .20©` . Title (If corporation,to be signed by President and attested to by Secretary,together with corporate seal.) 1111111 11111111111111111111111111111111111111111 I I 11111 3192868 06/25/2004 01:57P Weld County, CO 14 of 14 R 0.00 0 0.00 Steve Moreno Clerk& Recorder Page 14 of 14 . Revised 05/28/2004 FINANCING STATEMENT RED BARON ESTATES PZ-1035 The following proposal is being submitted to guarantee collateral for on-site improvements and off-site public road improvements as required by Section 7.0 "General Requirements For Collateral", and Section 8.0 "Improvements Guarantee", outlined in the submitted Improvements Agreement According To Policy Regarding Collateral For Improvements. Red Baron Development LLC will enter into an Escrow Agreement in accordance with Section 8.0, sub-section8.3 as follows: Red Baron Development LLC will be the exclusive agent for marketing and selling the eight residential lots in the proposed PUD, using the attached contract approved by the Colorado Real Estate Commission. ** See Contract #CBS3-9-99, Contract To Buy and Sell Real Estate (Vacant Land-Farm-Ranch). All real estate closing transactions will take place at Security Title Guaranty Co., 720 East Bridge Street, Brighton, CO 80601. **See attached letter from Jim Clement, Branch Manager. Cash needed to satisfy One-Hundred Percent (100%) of the on-site and off-site public road improvements will be obtained with the first three lot sales. At time of closing, the total monies needed to complete the on-site improvements, $276,173, and the cash percentage required by the developer for off-site improvements (to be determined by future traffic count) will be placed in escrow with Security Title Guaranty Co. Proper invoices for the contracted improvements will be approved by Red Baron Development LLC and by Weld County. Upon site inspection and final approval by Weld County, monies will be disbursed from the Security Title Guaranty Co. escrow account for payment to the contractor. Red Baron Development currently has two lot sale contracts ready to close, with a third lot sale forthcoming. Due to increasing interest in Red Baron Estates, we are confident that all development improvements will be completed by fall of 2004. Respectfully Submitted, Wiel-c/79,AJ Marilyn Taylor Authorized Agent Red Baron Development LLC AreerN __ — -- I 11 le printed portions of this form have been approved by the Colorado Real Estate Commission (CBS3-9-94) 2 oils toed HAS IMPORTANT LrGAL CONSEQUENCES AND THE PARTIES SHOULD CONSULT LEGAL AND TAX OR OTHER COUNSEL BEFORE SIGNING. I. 3 CONTRACT TO BUY AND SELL REAL ESTATE i 4 I I (VACANT LAND—FARM—RANCH) I Date: I 6 I. AGREEMENT. B defined below on the terms and[toyer agrees to buy and the undersigned Seller agrees to sell the Property 7 'CI conditions set fonh in this contract. I 8 2. DEFINED TERMS. I 9 a. Buyer. Buyer. 10 will take title to the real property described below as O Joint Tenants 0 Tenants In Common 0 Other I I h. Property. The Property is the following legally described real estate: 12 Ii I3 I 14 I IS I I II 16 17 IN 19 I 20 in the County of - ___.Colorado,commonly known as I' Cl No. - Tercet Addrs,s City State Zi p 22 together with the interests,easements,rights.benefits.improvements and attached fixtures appurtenant thereto,all interest of Seller 23 in vacated streets and alleys adjacent thereto,except as herein excluded. • 24 I e.Dates and Deadlines. 25 ! Item No. Reference Event Date or Deadline 26 I §5a Loan Application Deadline , 27 2 §Sh Loan Commitment Deadline 28 3 §5e Buyer's Credit Information Deadline 29 I 4 §5c Disapproval of Buyer's Credit Deadline 30 5 §5d Existing Loan Documents Deadline — 31 I 6 §5d Objection to Existing Loan Deadline 32 7 §551 Approval of Loan Transfer Deadline — • 33 8 §6a Appraisal Deadline 34 9 §7a Title Deadline 35 10 §7a Survey Deadline ' 36 I II §76 Document Request Deadline 37 I 12 §8a Tale Objection Deadline 38 13 ss 8h Off-Record Matters Deadline 39 I 14 '8b Off-Record Matters Objection Deadline — 4f) 15 . 10 Seller's Property Disclosure Deadline 41 I 16 10a Inspection Objection Deadline 42 17 tub Resolution Deadline — 43 • 18 11 Closing Date — 44 19 16 Possession Date 45 20 ' 16 Possession Time ' 46 21 28 Acceptance Deadline Date 47 I I 28 Acceptance Deadline Time 48 49 50 II 51 I d. Attachments. The following exhibits,attachments and addenda area part of this contract: 52 I I I 54 55 e. Applicability of Terms. A cheek or similar mark in a box means That such provision is applicable. The abbreviation II 56 "N/A"means not applicable. 57 3. INCLUSIONS AND EXCLUSIONS. 58 a. The Purchase Price includes the following items(Inclusions): 59 (1) Fixtures. If attached to the Progeny on the date of this contract,lighting,heating,plumbing,ventilating,and air con- 60 I'ditioning fixtures,inside telephone wiring and connecting blocks/jacks,plants,mirrors,floor coverings,intercom systems, sprinkler , 61 systems and controls; and 62 63 64 65 I 66 • 67 II si Nn.CBS3 9-99. CONTRACT TO ROY AND SELL REALESTATE(VACANT LAND-FARM-RANCH) ' r Bradford Publishing.1143 Wreee St.Denver.G>80202—(3031292-2500—www.siadtoiapshtishing.rom-_4-59 Page l of 6 Initial 6R (2) Other Inclusions. If on the Properly whether attached or not on the date of this contract s._.m windows.storm doors,window and , 69 porch shades,awnings.blinds.screens,window coverings,curtain rods,drapery rods.storage sheds.and all keys,Check applicablehattes)if included: 70 0 Smoke/Fire Detectors. 0 Security Systems,and 71 72 73 74 (3) Trade Fixtures. With respect to trade fixtures.Seller and Buyer agree as follows'. 75 76 77 78 (4) Water Rights. The lollowing legally described water rights: 79 80 µl 82 µ3 (5) Growing Crops. With respect to the growing crops,Seller and Buyer agree as follows: µl 85 $6 7 RR R9 90 B. instruments of Transfer. The Inclusions are lobe conveyed at Closing free and clear of all taxes.liens and encumbrances,except as 01 provided in 312. Conveyance shall he by bill of sale or other applicable legal instniment(s).Any water rights shall he conveyed by_ 02 _ deed or other applicable legal instniment(s). 93 c. Exclusions. The following attached fixtures arc excluded from this sale: 94 95 96 97 4. PURCHASE PRICE AND TERMS. The Purchase Price set forth below shall he payable in U..5.Dollars by Buyer as follows: 05 Item No. Reference Item Amount eau. nt 99 ) 3 4 I urehase Price 1n0 j 4a Earnest Money 3 at '. it 1111 7 646 hiss loan �1 I02 4 &'Si. As )Dfnn Bulnnce t r P 1(13 5 34d Seller or Private Financing 104 5 qc Cash at Closing I05 7 TO Du S S 106 a. Earnest Money. The Earnest Money set forth in this Seelinn,in the loom of ,is part pay- 107 rent of the Purchase Price and shall he payable to and held by ,in its Postaccount,on behalf of both Seller and I11µ Buyer. The parties authorize delivery of the Earnest Money deposit to the Closing Company,if any.al or before Closing. 1119 h. New Loan. Bayer shall obtain a new loan set forth in this Section and as follows: 0 Conventional 0 Other _ .This loan will he secured by a - (Ist,2nd,etch deed of trust. III The total loan amount,not in excess of$ __. - , shall be amortized over a period of_ _ 0 years 112 0 months.payable at approximately$ _. _per including principal and interest not to exceed per annum,plus.if required by Buyer's lender,a deposit of_ of the estimated annual real estate taxes and property 114 insurance premium. If the loan is an adjustable interest rate or graduated payment loan,the payments and interest rate initially shall not exceed the 115 Figures set rorth above, 116 Loan discount points,if any,shall he paid to lender at Cl nsln£and shall not exceed Si.of the total loan amount. Notwithstanding 117 the loan's interest rate.the first loan discount points shall be paid by ,and the 118 balance,if any,shall he paid by 119 Buyer shall timely pay Buyer's loan costs and a loan origination tee not to exceed %of the loan amount. 120 c.Assumption. Buyer agrees to assume and pay an existing loan in the approximate amount of the Assumption Balance set forth in this 121 Section.presently payable at S _ Per _ including principal,interest presently at %per 122 annum.and also including escrow for the Billowing as indicated: 0 Real Estate Taxes, U Properly Insurance Premium,and 23 1224 Buyer agrees to pay a loan transfer fee not to exceed$ . At the time of assumption.the new interest rate shall not exceed 125 - %per annum and the new payment shall not exceed$ _ principal and interest,plus escrow,if any. If the 126 actual principal balance of the existing loan at Closing is less than the Assumption Balance,which causes the amount of cash required from Buyer 127 at Closing to he increased by more than$ --,Ihcn 0 Buyer May Terminate this contract effective upon receipt by Seller of I2µ Buyer's written notice of termination or 0 _ -129 Seller 0 Shall 0 Shall Not he released from liability on said loan. If applicable.compliance with the requirements for release from lia- 130 hility shall be evidenced by delivery at Closing of appropriate letter of commitment from lender.Cost payable for release of liability shall be paid 14 i ny - _. in an amount not to exceed .$ I)? d. Seller or Private Financing. Buyer agrees to execute a promissory note payable to: 13) ,as O Joint Tenants 0 Tenants in Common 134 0 Other ,on the note form as indicated: 0(UCCC-No Default Rate)NTD R2-3-95 135 0(Default Rate)NTD RI-I1-S3 0 Other— secured by a I Ist,2nd,etc.)deed 136 of mist eneumhering the Property, using the form as indicated: 0 Strict Due-On-Sale (TD 72-7-96) 0 Creditworthy (TD 73-7-961 137 0 Assumable-Not Due On Sale CI D 74-7-96)0 Other Nn.C0.4}9-99. Page 2 of 6 Initial I as It a)ci 0 Shall 0 Sh a..Not execute and deliver,at Closing,a Security Agreement and UCC-I Financing Statement granting the holder 139 of the ptnnl3sory note a (1st,2nd.etc.,lien on the personal property included in this role. The promissory note shell he amortized I-10 on roc.hnsis of _- 0 years 0 months.payable at$ per including principal and I4I 'unerest at the rate of `e per annum. Payments shall commence _ and shall he due on the I-12 __day of each succeeding If not sooner paid,the halance of principal and accrued interest shall he due 143 and payable alter Closing. Payments 0 Shall 0 Shall Not he inures, _of esthi rated al nua'teal ustace.taxes,and J Shalt❑Shalt.vat he utereased ins 01 o: I15 estimated annual property in uranec premium. The loan skill also contain the following terms: if any payment is not received within 116 _._ calend at Jays after its due date a late charee of Tc of such mouthll. pay meta shalt be duce Interest on lender dis- I47 hm'semems under the deed of rout shall he __. 5a per annum. Default interest tate shall be .`3 pct annum.Buyer may prepay 148 without a penalty except 149 I Sn Buyet 0 Shall 0 Shall Not ploy ide IgagOCS title insurance policy,at Buyer's expense. 151 e. Cush at Closing. All amounts paid by Buyer at Closing including Cash atClosing.plus Buyer's closing costs.,shall he in fonds which I?2_ comply with all applicable Colorado laws, which include cash,electronic transfer funds. acn l pied check, savings and loan teller's check and 53 cashier's check(Good Funds) 54 5. FINANCING CONDI'ITONS AND OBLIGATIONS. 55 a. Loan Application. If Buyer is to pay all or part of the Purchase Pt ice by obtaining a new loan,or if an existing loan is not to he rcl eased 56 at Closing.Buyer,if required by such lender.shall in nke son Men app lie att on by Loan Application Deadline(5 _e). Buyer shall cooperate with 57 Saltar and lender to obtain Iona apprnczl,diligently and timely pursue sante in good faith,execute alt documents and furnish all information and 58 documents required by lendct,and,subject to§4,timely pit the ants of oblaullng such loan or lender consent Buyer agrees to satisfy the rea- 59 etmdble tcpui rrments tat lender,and shall not withdraw the loan or assumption application.nor intentionally cause any change in circumstances fin w Inch would Id plot adice lender's appros at of the loan application or finding of the loan. 61 h. Loan Commitment. If Buyer is to pay all or pan of the Purchase Price by obtaining a new loan as specified in S 4h.this contract is 62 conditional upon Buyer obtaining a written loan commitment including,iI rem tired by lender_ t I)lender v enfical ion of employment,Ill lender t3 approval ear Buyer's credit-w(athiness, ill lender verification that Buyer has If nt funds to close and (4) specification ol any remaining 64 eqm Itrnl nit- tot finding said loan. This condition shall he deemed waived unless S.lte-meet vet from Buser no later than Loan Commitment 65 Deadline to let.written notice of BLtyer s inability to obtain such loan writ nttnuu. It Buyer so nodfies Seller,this umr ch shall m'initiate 66 IF BEV I:R WAIVES THIS CONDITION RUT DOES NOT CLOSD BI V ER SHALT L RF.IN DEFAULT. 07 e. Credit Information. If I3usci is to pay all or part of the Purchase Price by eexecuttng a promissory note in favor of Seller or it an exist- fie fi no loan is not t to be released at ClClosing.this contract is conditional upon Seller's appmy I of Biters hing he al chility and creditworthiness.w Itch B9 approval ov hall he at Seller's s l and absolute di s t son 1such sr,II)B -cr shall supply to Seller by Buyer's Credit Information Deadline 7f ! _'el. t Buyers esperise.Information and documents c tit nine Buyerr financial.employu m and cteclit condition (2I Buyer consents that 71 Seller 111,1V vet-1 Ilustersfinancial ability and credu,sorthiness(includtng _hutting a current credit rep n (a t) Sligall Intormannnanddocu- tcttts t t ley Seller shall he li by Sllift in confidence d not telcasod to others xcel t t protect Selle s harms,an this transaction, It tt lloi not pros isle wrtn n clothe of Seller's d s tppro al to Buyer hy Disapproval Of Buyers Credit headline 2c I.then Solter :dyes 74 this condition- Il Seller In pros ide welt n notice of disapproval to Buyer nit .fat said late this sontract.ball terminal 75 el. Existing Lou n Review If an existing loans not t be released 7 t Closing,Seller shall p en dot copies of the loan documents(inelud- 'M1 lug rime.deed of 0 and any modifications)to Buyer by Existing Loan Documents Deadline I§lei This contract is conditional.upon Hurler's i;Sims and approval of the provisions of.such loan documents. If written notice of objection to such loan documents,signed by Buyer.is not 78 to,enrd by Seller by the Objection to Existing Loan Deadline(•2ct Buyer ccepts the actin and conditions of the documents. ll the lender's 70 app.),t of a mmsler of the Nopoty is required.this e tit act is condmnnal upon Buye s obtatertig sue h approval without s hange tat the trusts of SO such loan y I ',is set forth in§4c.It lender`e Approval is not OM-tined by Approval x11 Loan t Transfer Deadline III 2c t,this vntract shall tcr- S I minute on's ch lase_ If Seller is to lie released from li hhttty under such costing loan and Buyei doer not obtain such compliance as set forth to g_ na 4c,this contact stay be terminated at Seller's option. Si 6. APPRAISAL PROVISIONS. Eaa. Appraisal Condtlion this athscction a. 0 Shall 0 Shall Not apply. 55 Bt yet shall have the sole eptinut and election to terminate this emitter(if the Purchase Price exceeds the Property's valuation determined by 86 an Lipp iser.nagged he _... — .The contract shall terminate lay Buyer gtymg Seller S vrzillen notice of termination and either a copy nl welt appraisal or written notice from lender which confirms the Property's valuation is less than (,8 the Purchase Price.rem is cd on of before the Appraisal Deadline f9 2c-7 I f S l let does not retrise such written notice of termination on or before 89 the Appraisal Deadline .5_c.Iluyet s any nein to terminate under this su sect n 90 b. Cost of Appraisal. Cost o I any h1 p diem m he obtained Alta the date of this,o th ash shall It unicl paid by 0 Buyer 0 Seller. 41 7. EVIDENCE Oh'TI'ILE. 92 a. Evidence of Title;Survey. On or het tare Title Deadline I§2c).Seller shall cause in he furnished to Beyer.at Seller's expense,a cur 93 rcnI conuuhment for owners title insurance pokey in an amount coital to the Purchase Price of d this box is checked.0 An Abstract of title q4 ccrtilied to a eatn-rent date. If a title insurance commitment is Iunf¢haf.it 0 Shall 0 Shall Not commit to delete or inswc Mei'the standard '15 exceptions which elate m. 96 iii patties to possession. 97 (2) unrecorded utvemenfc. 9fi i3r survey mutters, t40 141 any unrecorded mechanics'liens. 2(( 151 gap period d(effective date of commitment to date deed is recorded).and 2,11^_01 (61 unpaid taxes.linstagailICIILSand iinredeemed tax sales mini to t1 e year f Clostng lu]. y _ edditit tnl p en tan expense Io obtain this additional en shall Ise paid by 0 Buyer 0 Seller. An amount not to exceed 21u S Mr the cost of a y, ptneemcnl location certificate.or survey shall he paid by 0 Blip.]' 0 Seller. If the coal exceeds this 2nd ,Rimer _ _. —_shall pay the excess on or before Cl s'ng.'Ihe mminvemunt location e tilicsne isc suvey shall .05 be r. sod Fr Buser on oi liclhie Survey Deadline 5$_e Seller shall cause the title n.tt-rose.policy 10 he delivered l li yo-aa coon an practi- -0a cable is or alterClosnp ih7 h. Copies of Exceptions. On or before itle D dl ne t§2i Seller,at Sr lilt expense.shall furnish to Bluer, l l a copy of any plats. ItIS tinctar:mon-.covenants conditions and restrictions burdening the Property.and (_)al'a la lc insurance commitment is r055 t red to he turn bed,and 2(11 If this hots ts checked 0 Copies of any Other Documents rent. or,if illegible nalIs oar a of such documents)listed in the.schedule of exceptions Jo if attune,ne, E en it thr has is not checked,Seller shall have the obligation to 1 tnt'sh these documents pursuant to ihrs subsection if requested I I lay Buyerdm time on gal before the Document Request Deadline I§_el lithe requirement shall pertain only fn documents as slow n oh record in 711 the oft ce of the clerk and tcmrdert el. The Ammo or sale insurance commitment,together with any copies err atnmtanos of such documents fur- II) Dished pursuant to this Sectinn,constitute the title dnoanents(Title Documents)_ Nn.I'nst-9-99. Page 3 of hatnl 214 S. TITLE. '_IS a. Tide Review. Buyer shall have the right to inspect the Title Documents. Written notice by Bayer of tin merchanthbi lily of title or of 216 any other umatislactory tide condition shown by the Title Documents shall he signed by or on behalf of Buyer and giien to Seller on 01 before 21- Title Objection Deadline u8 lea oi within five(5)calendar days after receipt by Buyer of any Title Document( 1 or endorsemennst adding new 218 Ix pt innts)to the ti tie commitment together with a copy of the Title Document adding new Exce ltton(s)to tide If Seller does not receive Buyer's 219 notice by the datels)specified above,Buyer accepts the condition of title as disclosed by the Title Documents as satisfactory. 220 h. Matters not Shown by the Public Records. Seller shall deliver to Buyer,on tar before Off-Retard Matters Deadline I§2e)tale 221 copies of all lease(s)and surveys )in Seller's possession pertaining to the Property and shall disclose to Buyer all easements.liens or other title 222 mat Lets not shown by the public records of which Seller has actual knowledge. Buser shall have the right to inspect the Property to determine if 223 s third party t esl has any right in the Property not shown by the public ecords(such as an unrecorded easement,unrecorded lease,or boundary 224 line discrepancy i \Vritcn notice of any unsatisfactory ostd t rls)disclosed by Seller or revealed by such inspection shall he signed by or on 225 behalf of Dims and given to Seller sin or before Off-Record Matters Objection Deadline is lim. If Seller does not recete is Btner s notice by 226 said dole.Buyer accepts title subject to such rights,if any,of Mild ps il les of svhich Buyer r has actual knowledge. 217 c. Special Taxing Districts. SPECIAL TAXING DISTRICTS MAY BE SUBJECT TO GENERAL OBl IGATION INDEBTED- 228 NESS THAT IS PAID BY REVENUES PRODUCED FROM ANNUAL TAX LEVIES ON THE TAXABLE PROPERTY WITHIN SUCH 229 DIS'TRIC'TS. PROPERTY OWNERS IN SUCH DISTRICTS MAY BE PLACED AT RISK FOR INCREASED M1t.t.LEVIES AND 2230 EXCESSIVE 31 THE INABILITY OF SUCH A DISTRIC TO DISCHARGE UPPORT THE C OF INDEBTEDEBT NESS WITHOUTRE SUCH AN INCREASE STANCES ARISE RESULTING MILL 232 LEVIES.BUYER SHOULD INVESTIGATETHE DEBT FINANCING REQUIREMENTS OF THE AUTHORIZED GENERAL OBLIG- 23,1 ATION INDEBTEDNESS OF SUCH DISTRICTS, EXISTING MILL LEVIES OF SUCH DISTRICT SERVICING SUCH 234 INDEiSTEIINF.SS,AND THE POTENTIAL FOR AN INCREASE IN SUCH MILL LEVIES. 235 In the event the Property is located within a special taxing district and Buyer desires to terminate this contract as a result.if written notice is 236 teceived by Seller on or before Off Record Matters Objection Deadline(§1O.this contract shall then terminate. the eight torsoo terminate. 238 Buyer's 237 notice by such date.Buyer acceptsthe effect of the Property's inclusion t such p 6 and waives 238 el. Right to Cure. If Seller receives nonce of unmerehantahility of title or any other unsatisfactory title condition(s)tit commitment terms 239 a s provided in 8 S a orb above,Seller shall use reasonable elfon to correct said items and hear any nominal expense to cot reel the same prier to 240 Closing If such unsatisfactory title condition(s)are not corrected on or before Closing,this contract shall then terminate',provided,however,Buyer 241 may.by written notice received by Seller,on or before Closing,waive objection to such items. 242 e. Title Advisory. The Title Documents affect the title. ownership and use of the Property and should he reviewed carebilly. 243 Additionally, ther matters not retlected in the Title Documents may affect the title,ownership and use of the Property,including without 1 mmo 244 lion boundary lines and encroachments,area,zoning.unrecorded casements and claims of easements,lenses and other unrecorded agreement and 245 signals laws and gnvernmenml regulations concerning land use,development and environmental natters. The surface estate may he owned sepu- ot y arties 246 lately ld the tit in underlying g mineral other r mine and ge nsfer of the surface or water otate n ors lrunder theaPrloperty which intere transfer sts is mae y giveeral rights.them rights to enter 247 gnu}held interestsroper y oil,ga terr minerals.geothermal energy 24R and use the Property. Such matters may be excluded from the title insurance policy. Buyer is advised to timely consult legal counsel with respect 249 to all such matters as there are strict time limits provided in this contract(e.g.,Title Objection Deadline[§aloud Off-Record Matters Objection 250 Deadline I§2e1), for which a 251 9. LEAD-BASED PAINT. Unless exempt,if the improvements on the Propcny include one or more residential dwellingls) 252 building permit was issued prior to January I. 1978.this contract shall be void unless a completed Lead-Based Paint Disclosure(Sales)form is 253 egnei by Seller and the required real estate licensee(s),which must occur prior to the parties signing this contract. 254 10.PROPERTY DISCLOSURE AND INSPECTION. On or before Seller's Property Disclosure Deadline(§2t) Seller agrees to pro- 255 vide Buyer with awthen disclosure of adverse matters regarding the Property completed by Stiller to the hest of Seller's current actual knowledge. o inspection(s)of 257256 at Buyer's s expense. xppe sea Objection physical conditie.on of the Properly shall have thre ght Inclusions isis unsatisfactoryhe in Buyer's)condition of the subjective discrettion.Buyer shalerty and l.on or 25R before Inspection Objection Deadline(§2c): 259 (I I notify Seller in writing that this contract is terminated.or 260 (2) provide Seller with a written description of any unsatisfactory physical condition which Buyer requires Seller to correct(Nonce to 261 Correct). 262 If written notice is not received by Seller on or before Inspection Objection Deadline(§2c),the physical condition of the Property and 263 Inclusions shall he deemed to he satisfactory to Buyer_ 264 h. Resolution Deadline. If a Notice to Correct is received by Seller and if Buyer and Seller have not agreed to writing to a settlement 265 thereof on or before Resolution Deadline(§2c).this contract shall terminate one calendar day following the Resolution Deadline 1§2c).unless 266 before such termination Seller receives Buyer's written withdrawal of the Notice to Correct. 267 c. Damage;Liens;Indemnity. Buyer is responsible for payment for all inspections,surveys.engineering reports or for any other work 268 performed at Buyer's request and shall pay for any damage which occurs to the Property and Inclusions as a result of such activities. Buyer shall 269 not permit claims or liens of any kind against the Property for inspections,surveys,engineering reports and for any other work performed on the 270 Properly at Buyer's request. Buyer agrees to indemnify.protect and hold Seller harmless from and against any liability.damage,cost or expense. 271 incurred by Seller in connection with any such inspection,claitn.or lion. This indemnity includes Seller's right to recover all costs and expenses 272 incurred by Seller to enforce this subsection,including Seller's reasonable attorney fees. The provisions of this subsection shall survive the ter- 273 mina)ion of this contract. 274 I1. CLOSING. Delivery of deedisl from Seller to Buyer shall he at Closing(Closing).Closing shall he on the date specified as the Closing 275 Date i§2ee)or by mutual agreement at an earlier date. The hour and place of Closing shall he as designated by 276 • 277 12.TRANSFER OF TITLE. Subject to tender or payment at Closing as required herein and compliance by Buyer wish the other terms and deed to Buyer.at Closing, 278 provisions thehereof,Seller shall adexecute and deliver a good and sufficient_ . 279 conveying the Property tree and clear of all taxes except the general taxes for the year or Closing. Except as provided herein,title shall be con- 280 veyed free and clear of all liens.including any governmental liens for special improvements installed as of the date of Buyet's signature hereon, 111 whether assessed or not. Title shall he conveyed subject to: - 282 a. those specific Exceptions described by reference to recorded documents as reflected in the Title in Documents accepted by Bayer accor- 283 dance with§8a[Title RevicwJ, 284 b. distribution utility casements. 285 c. those specifically described rights of third parties not shown by the public records of which Buyer has actual knowledge and which were 286 accepted by Buyer in accordance with§Sb[Matters Not Shown by the Public Records],and 287 d. inclusion of the Property within any special taxing district,and 288 e, the benefits and hurdeits of any declaration and party wall agreements.if any.and 289 f. other_ 290 13. PAYMENT OF ENCUMBRANCES. Any encumbrance required to he paid shall he paid at or before Closing from the proceeds of this 291 transaction on from any other source. 292 14. CLOSING COSTS;DOCUMENTS AND SERVICES. Buyer and Seller shall pay.in Good Funds,their respective Closing costs and 293 all other items required to be paid at Closing,except as otherwise provided herein. Buyer and Seller shall sign and complete all customary or ea- 294 sonably required documents al or before Closing. Fees for real estate Closing services shall he paid at Closing by O One-Half by Buyer and 295 One-Half by Seller 0 Buyer O Seller O Other 296 The lineal transfer cox of_ Sr of the Purchase Price shall he paid at Closing by O Buyer 0 Seller. Any sales and use tax that may 297 accrue because of this transaction shall he paid when due by 0 Buyer 0 Seller. No.CIIS3-9-94. Page 4 of 6 -Initial • 298 IS. PRORATIONS. The _swing shall be prorated to Closing Date,except as otherwise provided: 299 a. Taxes. Personal property taxes.if any,and general real estate taxes for the year of Closing,based on 315) 0 The 'taxes for the Calendar sear Immediately Preceding Closing 0 The Most Recent Mill Levy and Most Recent Assessment 3111 0 Other • 3112 h. Rents. Rents hased on 0 Rents Actually Received 0 Accrued. Security deposits held by Seller shall he credited to Buyer. Seller 303 shall assign all leases to Buyer and Buyer shell assume such leases. 104 e. Other Proration. Water,sewer charges:and interest on continuing loan(s).if any:and 305 • 3116 d. Final Settlement. Unless otherwise agreed in writing.these proration shall he final. 307 16. POSSESSION. Possession of the Property shah he delivered to Buyer on Possession Date and Possession Time fg 2c),subject w jlt 308 die lullnwirig Icmctsl in tenancy(sp. l09 310 311 II Sd lei alter Closing,fails to deliver possession as specified.Seller shall he subject to eviction and shall he additionally liable to Buyer for 312 payment or$ _per day from the Possession Date($2c)until possession is delivered. 311 17. NOT ASSIGNARLE. This contract shall not he assignable by Buyer without Seller's prior written consent. Except as so restricted,this 311 contract,shall inure to the benefit of and he binding upon the heirs,personal representatives..successors and assigns of the parties. 515 18, CONDITION OF,AND DAMAGE TO PROPERTY AND INCLUSIONS. Except as otherwise provided in this contract,the Property, 316 Iticlusium or both shall be delivered in the condition existing as of the dale of this contract onlsnery wear and tear excepted. 317 a. Casualty;Insurance. in the event the Property or Ind usi ens shall he damaged by fire or other casualty prior to Closing,in an amount 318 of not more than ten percent of the total Purchase Price.Seller shall be obligated to repair the same before the Closing Date(6 2cI. In the event 319 such damage is not repaired within said time or if the damages exceed such sum.this eentract may he terminated at the option of Buyer by delis- 320 erng to Sailer written notice of termination. Should Buyer elect to carry out this convacl despite such damage.Bever shall he entitled to a credit. 321 at Closing,Ior all the insurance proceeds resulting from such damage to the Property and Inclusions payable to Seller but not the owners'11505- .32_2 anion,if any.plus the amount of any deductible provided Ior in such insurance policy.such credit not to exceed the total Purchase Price. 313 h Damage;Inclusions;Services Should any Inclusion(s)or servicels)(including systems and components of the Properly.e.g.heat. 321 drip,plumbing.etc.)fail or he damaged between the date of this contract and Closing or possession,whichever shall he earlier,then Seller shall be 325 liable Ior the repair or replacement 0t such Inclnsi orals)or servicels)with a unit of.similar sire.age and quality,or an equivalent credit,but only 316 to the extent that the maintenance or replacement of such Inclusionsi,servi eels)or ftxture(s)is not the responsibility of the owners'association, 327 if any,less any inset' ice proceeds received by Buyer Covering.etell matter nr replacement"l'he risk of loss for any damage to growing crops.by 328 lire or other casualty,shall he borne by the party entitled to the growing_crops,if any,as provided in§ 3 and such party shall he entitled to such 120 insurance proceeds or benefits for the growing crops,if any. 1 e0 c. Walk•Phrough;Verification of Condition. Buyer,upon reasonable notice.shall have the right Or walk through the Properly prior to 331 Closi rig to verify I hat the physical condition of the Property and Inclusions complies with this contract. 332 19. RECOMMENDATION OF LEGAL AND TAX COliNSEL. By signing this document Buyer and Seller acknowledge that the Selling 333 Company or the Listing Company hay advised that this document has important legal consequences and has recommended the examination of title 334 and consultation with legal and tax or other counsel before signing this contract. 335 211. TIME OF ESSENCE AND REMEDIES. Time is of Ibe essence hereof. If any note or check received as Earnest ,Money hereunder or 336 any(tier payment due hereunder i_s nor paid.honored or tendered when due,or if any other I hi gaGun hcauder is not performed or waived as 337 herein provided,there shall he the following remedies: 338 a. If Buyer is in Default: 339 ❑ t i s Specific Performance. Seller may elect to treat Ibis contract as canceled.in which case all payments and things of value received 3411 hereunder shall be forfeited and retained on behalf of Seller,and Seller may recover such damages as may be proper,or Seller may elect In treat 341 this umlract as being in full lore°and effect and Seller shall have the right to specific performance or damages.or both. 342 0 121 Liquidated Damages. All payments and things of value received hereunder shall he forfeited by Boyer and retained on behalf of 343 Seller and NO parties shall thereafter he released from all obligations hereunder_It is agreed that such payments and things of value are I.IQUI- 344 DATED DAMAGES and(except as provided lu subsection c)ate Slit.I.ER'.S SOLE AND ONLY REMEDY for Buyer's failure to perform the 345 obligations of this contract.Seller expressly waives the remedies of specific performance and additional damages. 346 b. If Seller is in Default: Buyer may elect to treat this contract as canceled,in which ease all payments and things of value received 347 hereunder shall he returned and Buyer may recover such damages as may he proper,or Buyer may elect to treat this contract as being in full force 348 and effect and Buyer shall have the right to specific performance or damages,or both. 349 c. Costs and Expenses. In the event of any arbitration or litigation relating In this contract,the arbitrator or court shall award to the pre- 350 sailing party all reasonable costs and expenses,including attorney fees. 351 21. MEDIATION. If a dispute arises relating to this contract,prior to or after Closing,and is not resolved,the parties shall firm proceed in 352 good laith to submit the matter to mediation. Mediation is a process in which the parties meet with an impartial person who helps to resolve the 353 dispute informally and confidentially. Mediators cannot impose binding decisions, The parties to the dispute must agree before any settlement is 354 binding_ The parties will jointly appoint an acceptable mediator and will share equally in the cost of such reed i anion. Die mediation,unless nth- 355 crwise agreed,shall terminate in the event the entire dispute is not resolved 30 calendar days from the date written notice requesting mediation is 356 sent by one party to the°ther(s),"Phis Section shall not alter any date in this contract,unless otherwise agreed. 357 22. EARNEST MONEY DISPUTE. Notwithstanding any termination of this contract,Buyer and Seller agree that,in the event of any con- 358 troversv regarding the Earnest Money and things of value held by broker or Closing Company(unless mutual written instructions arc received by 350 the holder of the Earnest Money and things of value).broker or Closing Company shall not he required to take any action bid may await any pro- 3W seeding,or at broker's or Closing Company's option and sole discretion,may interplead all parties and deposit any moneys or things of value into 361 a ratan of competent jurisdiction and shall recover court costs and reasonable attorney fees. 362 23. TERMINATION. In the event this contract is terminated,all payments and things of value received hereunder shall he returned and the 363 parties shall he relieved of all obligations hereunder.subject to§§ Ilk,21 and 22. 364 24. ADDITIONAL PROVISIONS. (The language of these additional provisions has not been approved by she Colorado Real Estate Commission.) 365 366 367 368 369 37(1 371 372 373 374 375 376 377 378 No.cost-9-M. Page 5 or 6 - m,h:a • 379 24.ADDITIONAL PROVISIONS.(Cont). lthe language of these additional provisions has not been approve,.ny the Colorado KS Estate Commission) 380 381 382 383 384 1g5 38( 25.ENTIRE AGREEMENT;SUBSEQUENT MODIFICATION;SURVIVAL. This contract constitutes the entire contract between the 387 patties relating to the subject hereof,and any prior agreements pertaining thereto,whether oral or written,have been merged and integrated into 358 this contract.No subsequent modification of any of the terms of this contract shall he valid,binding upon the parties.or cnforceahle unless made 389 In w,ring and signed by the parties. Any obligation in this contract which.by its terms.is intended to he performed after termination or Closing 190 shall survive the same. 391 26.FACSIMILE. Signatures 0 May O May Not be evidenced by facsimile. Documents with original signatures,stall he provided to the 392 other party at Closing,or earlier upon request of any party. 393 27. NOTICE. Except for the notice requesting mediation described in§21,any notice to Buyer shall he effective when received by Buyer 394 or by Selling Company and any notice to Seller shall be effective when received by Seller or Listing Company. 395 25. NOTICE OF ACCEPTANCE;COUNTERPARTS. This proposal shall expire unless accepted in writing.by Buyer and Seller,as cvr 396 dented by their signatures below,and the offering party receives notice of acceptance pursuant to j 27 on or before Acceptance Deadline Dale 397 and Acceptance Deadline Time(g 2c). If accepted,this document shall become a contract between Seller and Buyer. A copy of this document 398 may be executed by each party.separately.and when each party has executed a copy thereof,such copies taken together shall be deemed to be a 399 lull and complete contract between the parties. 41111 — -- Bum, Buyer 401 Date of Buyer's Signature: —. ,—_ Date of Buyer's Signature: -- 4112 Buyer's Address: 4113 Buyer's Telephone No. _ — Buyer's Fax No'. -- - -- 404 (NOTE: If this offer is being countered or rejected,do not sign this document, Refer to T 29] 40``' Seller -- Se11u 407 Date of Seller's Signature: _ Date of Seller's Signature: _ . 408 Seller's Address: - - 409 Seller's Telephone No: ._ Seller's Fax No: - — 410 29. COUNTER;REJECTION. This offer is 0 Countered 0 Rejected. 411 Initials only of parry(Buyer or Seller)who countered or rejected offer 412 END OF CONTRACT 413 I Note: Closing Instructions should he signed on or before lisle Deadline. 414 BROKER ACKNOWLEDGMENTS. The undo signed Brokers)acknowledges receipt of the Earnest Money deposit specified in§4 and, while not a party to the contract,agrees to cooperate upon request with any mediation conducted under¢21. 41S Selling Company Brokerage Relationship.The Selling Company and its licensees have been engaged in this transaction as 0 Boyer Agent 0 Seller Agent/Subagent 0 Dual Agent 0 Transaction-Broker. 416 Listing Company Brokerage Relationship.The Listing Company and its licensees have been engaged to this transaction as O Seller Agent 417 0 Dual Agent 0 Transaction-Broker. -118 BROKERS'COMPENSAFION DISCLOSURE. 419 Selling Company's compensation or commission is to he paid by: O Buyer O Seller O Listing Company O Other 420 421 (To be completed by Listing Company) Listing Company's compensation or commission is to he paid by: 422 0 Buyer O Seller 0 Other - - 423 Selling Company. - -- - - -- Ninme of Catnrn',y 424 Bv- - -- — — 0ats'Si n„ 425 Selling Company's Address: -- 426 Selling Company's Telephone No- _ -._- Selling Company's Fax No: - - 427 I.'shim Company: Name or carnp.nry �- 438 By: Date s,gnaene 429 Listing Company's Address: 430 Listing Company's Telephone No- --__ Lining Company's Fax No. — — Na CBS49-99. Page 6 art Subj: Date: 4/7/2004 10:31:50 AM Mountain Standard Time From: jclement@STGCO.com (Jim Clement) To: mtpva1@aol.com ('mtpvai@aol.com) Dear Marilyn, This will confirm that Security Title Guaranty Company can act as Escrow Agent for the on-site and off-site public road improvements for Red Baron Estates, subject to properly executed escrow agreements,disbursements procedures and fees for such services. Final documentation and agreements must be approved by Security Title. Sincerely, Jim Clement Branch Manager Headers Return-Path: <jclement@stgco.com> Received: from rly-xm01.mx.aol.com (rly-xm0l.mail.aol.com [172.20.83.102]) by air-xm0l.mail.aol.com (v98.19)with ESMTP id MAILINXM12-5ed40742cdd251; Wed, 07 Apr 2004 12:31:48 -0500 Received: from stg-mailsweeper.utcnet.com (mail.stgco.com [63.150.163.149]) by rly-xm0l.mx.aol.com (v98.5) with ESMTP id MAILRELAYINXM17-5ed40742cdd251; Wed, 07 Apr 2004 12:31:25-0500 Received: from stg-exchange0l.utcnet.com (unverified) by stg-mailsweeper.utcnet.com (Content Technologies SMTPRS 4.2.5) with ESMTP id <T68d0f2cd310aca0181a4c@stg- mailsweeper.utcnet.com>for<mtpval@aol.com>; Wed, 7 Apr 2004 10:36:11 -0500 Received: by stg-exchange01.utcnet.com with Internet Mail Service (5.5.2653.19) id <2LXVX0PG>; Wed, 7 Apr 2004 10:32:13 -0600 Message-ID: <4964911FF4DB024BA8103AA57A850738182CFC@stg-exchange01.utcnet.com> From: Jim Clement<jclement@STGCO.com> MEMORANDUM Wi`,PC TO: Board of County Commissioners COLORADO DATE: June 3, 2004 eiv FROM: Sheri Lockman, Planner II SUBJECT: Acceptance of Improvements Agreement According to Policy Regarding Collateral for Improvements (Public Road Maintenance), and Agreement for Improvements for Weld County Road 39 Road Stabilization for Dust Control Red Baron PUD Case Number PF-1035 Morris Quick/Mark Holiday The Departments of Planning Services and Public Works have reviewed the Improvements Agreements for Red Baron Estates PUD. Items covered under the Improvements Agreements include: Site grading $ 24,167. Street base $ 22,656. Taxiway paving $ 90,181. Culverts $ 2,800. Retention ponds $ 10,828. Fire cistern $ 16,500. Street name signs/stop sign $ 330. Gas line relocation $ 40,232. Electric $ 35,000. Engineering and supervision $ 2,200. Total Estimated Cost of Improvements $242,694. County Road 39 Stabilization and Dust Control $ 25,200. The Department of Public Works and the Department of Planning Services, have determined that the amount of the agreements will be sufficient to complete the work required for Red Baron Estates and County Road 39. The Department of Planning Services recommends acceptance of the Improvements Agreement According to Policy Regarding Collateral for Improvements (Public Road Maintenance) and Agreement for Improvements for Weld County Road 39 Road Stabilization for Dust Control. ilttar>4 MEMORANDUM ITO: Sheri Lockman,Planner DATE: 02-June-2004 FROM: Peter Schei, P.E.,Civil Engineer, Public Works Department COLORADO SUBJECT: PF-1035 Red Baron Estates PUD(Improvements Agreements).doc eld County Public Works Department has reviewed Improvements Agreement According to Policy Regarding Weld for Improvements (Public Road Maintenance) and Agreement for Improvements for Weld County Road 39 Road Stabilization for Dust Control. Comments ❑ The submitted engineering drawings and/or plat was used to verify the on-site improvements for estimated construction shown on "Exhibit AA@" in the Improvements Agreement According to Policy Regarding Collateral for Improvements (Public Road Maintenance). The unit costs and the estimated construction costs appear to be adequate to complete the project, which totals$242,694. ❑ The developer agrees to pay $3,600 per lot as identified on Page 2 of 5, Item 3.A., in the Agreement for Improvements for Weld County Road 39 Road Stabilization for Dust Control. The developer's total estimated obligation under this agreement is $25,200. Recommendation ❑ The Public Works Department recommends acceptance of the transportation portion of "Exhibit A" for the Improvements Agreement According to Policy Regarding Collateral for Improvements (Public Road Maintenance). o Non-transportation items must be verified by the Planning Department prior to scheduling the agreements for acceptance by the Board of County Commissioners. ❑ The Public Works Department recommends acceptance of the Agreement for Improvements for Weld County Road 39 Road Stabilization for Dust Control. es®6axl'4”, :. r ",: qm ° a• � ,A.�`. 3�,« aRa €t R°., %..° PC: PF-1035 Red Baron Estates PUD(Improvements Agreements).doc Email&Original: Planner Page 1 of 2 Hello