HomeMy WebLinkAbout20043546 RESOLUTION
RE: APPROVE THREE IMPROVEMENTS AGREEMENTS ACCORDING TO POLICY
REGARDING COLLATERAL FOR IMPROVEMENTS, AUTHORIZE CHAIR TO SIGN,
AND ACCEPT COLLATERAL FOR PLANNED UNIT DEVELOPMENT FINAL PLAN,
PF #1011 - RIVER RUNS THROUGH IT, LLC, C/O DOUG TIEFEL
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 September 15, 2004, the Board of County Commissioners approved a
Planned Unit Development Final Plan, PF#1011,for River Runs Through It, LLC,c/o Doug Tiefel,
P. O. Box 17130, Boulder, Colorado 80308, for 40 lots with R-1 (Low Density Residential) Zone
District uses, along with 193 acres of open space consisting of a river corridor and two private
recreational lakes on the following described real estate, to-wit:
Part of the E1/2 of Section 36, Township 3 North,
Range 68 West of 6th P.M., Weld County, Colorado
WHEREAS,pursuant to certain Conditions of Approval,the Board has been presented with
three Improvements Agreement According to Policy Regarding Collateral for Improvements, as
follows:
1. Improvements Agreement for Weld County Road#26 According to Policy Regarding
Collateral for Improvements (Public Road Maintenance), requiring collateral of
$264,895.00;
2. Pelican Shores PUD - - Block 1 Improvements Agreement According to Policy
Regarding Collateral for Improvements (Private Road Maintenance), requiring
collateral of$727,984.00;
3. Pelican Shores PUD - - Block 2 Improvements Agreement According to Policy
Regarding Collateral for Improvements (Private Road Maintenance), requiring
collateral of$594,440.00, and
WHEREAS,the three agreements listed above are between the County of Weld, State of
Colorado, by and through the Board of County Commissioners of Weld County, and River Runs
Through It, LLC,c/o Doug Tiefel,with terms and conditions being as stated in said agreements,and
WHEREAS,the Board has been presented with Irrevocable Letter of Credit#NZS532910
from Wells Fargo Bank, N.A.,Trade Services Division, Northern California,One Front Street,21st
Floor, MAC#A0195-212, San Francisco, California 94111, in the amount of$992,879.00, for the
agreements listed above as #1 and #2, and
WHEREAS, the Board has been presented with Irrevocable Letter of Credit#555566501
from Heritage Bank,2695 orth Park Drive,Suite 101, Lafayette,Colorado 80026-3166,in the amount
of$594,440.00, for the agreement listed above as #3, and
2004-3546
PL1678
('. /°L Ai ;2.eG� /��� f-Z c? O C)R 2/-&C
IMPROVEMENTS AGREEMENT - RIVER RUNS THROUGH IT, LLC, C/O DOUG TIEFEL
PAGE 2
WHEREAS, after review, the Board deems it advisable to approve said agreements and
accept collateral 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 three Improvements Agreement According to Policy Regarding Collateral
for Improvements listed above between the County of Weld,State of Colorado,by and through the
Board of County Commissioners of Weld County,and River Runs Through It, LLC,do Doug Tiefel,
be, and hereby are, approved.
BE IT FURTHER RESOLVED that Irrevocable Letter of Credit NZS532910 from Wells
Fargo Bank, N.A.,Trade Services Division, Northern California,One Front Street,21st Floor, MAC
#A0195-212, San Francisco, California 94111, in the amount of$992,879.00, be and hereby is,
accepted as collateral for the agreements listed above as#1 and #2.
BE IT FURTHER RESOLVED that Irrevocable Letter of Credit#555566501 from Heritage
Bank, 2695 orth Park Drive, Suite 101, Lafayette, Colorado 80026-3166, in the amount of
$594,440.00, be, and hereby is, accepted as collateral for the agreement listed above as #3.
The above and foregoing Resolution was,on motion duly made and seconded,adopted by
the following vote on the 20th day of December, A.D., 2004.
BOARD OF COUNTY COMMISSIONERS
JEL W FSSOUNTY, COLORADO
• 44“1861 it, \".fir Robert D. Masden, Chair
eld1Cotrat _ lerk to the Board /
r i c
William H. J e, Pro-Tem
Deputy Clerk o the Board
M. J ile
AP OV AS TO F F
:I; LY
ng
oun Attorney
Date of signature:
2004-3546
PL1678
n MEMORANDUM
�� TO: Board of County Commissioners
WILD€ DATE: December 14, 2004
COLORADO FROM: Sheri Lockman, Planner II
SUBJECT: Acceptance of Improvements Agreement According to
Policy Regarding Collateral for Improvements (Private Road
Maintenance) for Block 1 and Block 2, and Improvements
Agreement for County Road 26 According to Policy
Regarding Collateral for Improvements (Public Road
Maintenance)
Pelican Shores PUD, Case Number PF-1011, Douglas Tiefel
The Departments of Planning Services and Public Works have reviewed the Improvements
Agreements for Pelican Shores PUD.
Items covered under the Improvements Agreement for Block 1 include:
Street grading $ 106,812.
Street paving $ 110,940.
Curbs, gutters and culverts $ 25,455.
Sidewalk $ 26,765.
Storm sewer facilities $ 25,643.
Sanitrysewers $ 98,154.
Laterals (house connected) $ ,800.
Survey and street monuments and boxes $ 10,000.
Street lighting $ 10,000.
Street name signs $ 1,050.
Landscaping $ 19,765.
Telephone $ 26,000.
Gas $ 179,100.
Electric $ 65,000.
Recreation Area Sanitation Vault $ 15,000.
Engineering and supervision costs $ 7,500.
Total Estimated Cost of Improvements $ 727,984.
Items covered under the Improvements Agreement for County Road 26 include:
Street paving $ 166,410.
Curbs, gutters and culverts $ 25,455.
Sidewalk $ 26,765.
Storm sewer facilities $ 38,465.
Survey and street monuments and boxes $ 5,000.
Street name signs $ 300.
Engineering and supervision costs $ 2,500.
Total Estimated Cost of Improvements $ 264,895.
Items covered under the Improvements Agreement for Block 2 include:
Street grading $ 46,260.
Street base $ 11,970.
Street paving $ 90,018.
Storm sewer facilities $ 3,610.
Sanitry sewers $ 11,430.
Water mains (includes bore) $ 124,127.
Survey and street monuments and boxes $ 8,000.
Street lighting $ 6,000.
Street name signs $ 750.
Landscaping $ 10,275.
Telephone $ 14,000.
Gas $ 38,000.
Electric $ 35,000.
Water transfer $ 165,000.
Recreation Area Sanitation Vault $ 15,000.
Engineering and supervision costs $ 15,000.
Total Estimated Cost of Improvements $ 594,440.
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 Pelican
Shores PUD and County Road 26. The Department of Planning Services recommends
acceptance of the Improvements Agreement According to Policy Regarding Collateral for
Improvements (Private Road Maintenance) for Block 1 and Block 2, and Improvements
Agreement for County Road 26 According to Policy Regarding Collateral for Improvements
(Public Road Maintenance) and the associated Irrevocable Letters of Credit.
5�
IMPROVEMENTS AGREEMENT FOR WELD COUNTY ROAD#26
ACCORDING TO POLICY REGARDING COLLATERAL FOR IMPROVEMENTS
(PUBLIC ROAD MAINTENANCE)
THIS AGREEMENT, made and entered into this 4/T day of -- , 2004,by and
between the County of Weld, State of Colorado, acting through its Board of County Commissioners,
hereinafter called "County", and River Runs Through It, LLC, a Colorado limited liability company,
hereinafter called"Applicant".
WITNESSETH:
WHFREAS, Applicant is the owner of, or has a controlling interest in the following described
property in the County of Weld, Colorado:
Lots 1 —26,Block 1 Pelican Shores PUD
WHEREAS,a final Subdivision/Planned Unit Development(PUD)Plat of said property,to be known
as Pelican Shores PUD 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
"A"and"B"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 "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
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
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Planned Unit Development by the County, Applicant shall famish one set of
reproducible "as-built" drawings and a fmal statement of construction cost to the
County.
2.0 Rights-of-wav 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 famish and install, at its own expense, the Subdivision or
Planned Unit 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 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.
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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.
(There is no Section 5.)
6.0 Acceptance of Improvements to Weld County Road #26 for Maintenance by the County:
Upon compliance with the following procedures by the Applicant,the improvements to Weld
County Road#26 will 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
Weld County Road #26 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 of the construction of the improvements to Weld County Road#26
and the filing of a Statement of Substantial Compliance,the applicant(s)may request
in writing that the County Engineer inspect the road and recommend that the Board
of County Commissioners accept it 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 the road, the County Engineer shall, upon
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request by the applicant,inspect the subject road,and notify the applicant(s)of any
deficiencies. The County Engineer shall re-inspect the road after notification from
the applicant(s)that any deficiencies have been corrected. If the County Engineer
fmds that the road is constructed according to County standards,he shall recommend
acceptance of the road for full maintenance. Upon a receipt of a positive unqualified
recommendation from the County Engineer for acceptance of the road,the Board of
County Commissioners shall accept said road as public facilities and County
property, and shall be responsible for the full maintenance of said road including
repair.
7.O General Requirements for Collateral:
7.1 The value of all collateral submitted to Weld County must be equivalent to One-
Hundred percent (1O0%) 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)
reguests 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
1100%) 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.
(There is no Section 7.2.)
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 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 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.
8.O Improvements Guarantee: The five types of collateral listed below are acceptable to Weld
County subject to final approval by the Board of County Commissioners.
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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 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
fmal 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:
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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.
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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 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 shalt 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
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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 fmal 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:
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.
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IN WITNESS WHEREOF,the parties hereto have caused this Agreement to be executed on the day
and year first above written.
APPLICANT: River Runs Through It, LLC,
a Colorado limited liability company
APPLICANT:
TITLE: Doug Tiefel,Manager
STATE OF COLORADO }
} ss.
County of Boulder
Subscribed and sworn to before me by Doug Tiefel as anager jeer ough It,LLC,a Colorado
limited liability company thiscQ<l(S day of n dba'®Tq'''''''
c
•
My Commission expires: U
No
ATTEST: BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLORADO
/4^
Weld County Clerk to the Board • Robert D. Masden Chair 12/20/2004
BY: � -a1/4.: •-
Deputy Clerk to the
APPROVED AS TO FORM:
Cou ty Attorney
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&e0 �/•2.59‘
EXHIBIT"A"
Name of Subdivision or Planned Unit Development: Pelican Shores PUD
Filing: Block 1 —Weld County Road#26 Improvements
Location: Northeast corner of Weld County Roads#13 and#26
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.)
Estimated
Construction
Improvements Quantity Units Unit Costs Cost
Street paving 1 Ls. $ 166,410 $ 166,410
Curbs, gutters and culverts 1 l.s. $ 25,455 $ 25,455
Sidewalk 1 l.s. $ 26,765 $ 26,765
Storm sewer facilities 1 l.s. $ 38,465 $ 38,465
Survey and street monuments and boxes 1 1.s. $ 5,000 $ 5,000
Street name signs I l.s. $ 300 $ 300
Subtotal $ 262,395
Engineering and supervision costs $ 2,500
Total S 264,895
(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 $264,895.00.
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: g'.iN>kr R�n� \4��S aa1& ±Tr
River Runs Through It, LLC
Doug Tiefel, Manager Date: N13.°4AlAi r 29 2004.
(If corporation,to be signed by President and attested to by Secretary,together with corporate seal.)
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EXHIBIT"B"
Name of Subdivision or Planned Unit Development: Pelican Shores PUD
Filing: Block 1
Location: Northeast corner of Weld County Roads#13 and#26
All improvements shall be completed within one(1)year from the date of approval of the fmal plat.
Construction of the improvements listed in Exhibit"A"shall be completed as follows:
(Leave spaces blank where they do not apply.)
Improvements Time for Completion
Improvements Time for Completion
Curbs,gutters and culverts November 2004-July 2005
Sidewalk November 2004-July 2005
Storm sewer facilities November 2004 -July 2005
Survey and street monuments and boxes January-May 2005
Street name signs January-May 2005
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.
By: r:'%Vw.C %Y\i \\ncovati `�i
River Runs Through It, LLC J
Doug Tiefel,Manager Date: vt,\r%11v rkq , 2004Applicant
(If corporation, to be signed by President and attested to by Secretary, together with corporate seal.)
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5. PELICAN SHORES PUD-BLOCK 1
IMPROVEMENTS AGREEMENT ACCORDING TO
POLICY REGARDING COLLATERAL FOR IMPROVEMENTS
(PRIVATE ROAD MAINTENANCE)
THIS AGREEMENT,made and entered into this,,V day of r -- .2004 by and between the County
of Weld, State of Colorado, acting through its Board of County Commissioners,hereinafter called "County, and River Runs
Through It, LLC (a Colorado limited liability company)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:
Lots 1 —26 and Tract A of Block 1
Pelican Shores PUD, a subdivision in the County of Weld,
State of Colorado.
WHEREAS, a Final Subdivision/Planned Unit Development (PUD) plat of said property, to be known as Pelican
Shores PUD has been submitted to the County for approval, and
WHEREAS, relevant Weld County Ordinances 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 Improvement
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 A and B 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
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 or Planned Unit
Development to the County for approval prior to the letting of any construction contract. 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.
3.0 Construction: Applicant shall furnish and install, at its own expense, the Subdivision or Planned Unit
Development improvements listed on Exhibit A,which is attached hereto and incorporated herein by reference,
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according to the construction schedule set out in Exhibit B which is 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 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.
(THERE IS NO SECTION 5)
6.0 Approval of Streets by the County: Upon compliance with the following procedures by the Applicant,streets
within a Subdivision or Planned Unit Development may be approved by the County as public roads and will be
maintained and repaired by a Homeowners Association or, in its absence, the owners of lots within the
Subdivision or Planned Unit Development.
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
approval of said portions.
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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 is 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 its streets and recommend that the Board of County Commissioners partially
approve them. Not sooner than nine months after partial approval,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 re-inspect 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 or she shall recommend full approval. Upon a receipt of a positive
unqualified recommendation from the County Engineer for approval of streets within the development,
the Board of County Commissioners shall fully approve said streets as public but with private pay.
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 fmal 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. 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 Plat or Subdivision Final Plat. 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 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.
8.0 Improvements Guarantee: The five types of collateral listed below are acceptable to Weld County subject to
fmal 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:
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8.1.1 The Letter of Credit shall be in an amount equivalent of 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 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 fmal 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 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:
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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.
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 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 Schedule for minimum materials sampling, testing and inspections found in the
Colorado Department of Transportation(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 paragraphs 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 approval
of the streets 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.
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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 fmal approval by the Board of County
Commissioners.
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(PUD)Plan, if any:
10.1 The required acreage as may be determined according to the Weld County Subdivision Regulations
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 according to the Weld County Subdivision Ordinance,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 according to the Weld
County Subdivision Ordinance. 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: RIVER RUNS THROUGH IT, LLC
a Colorado limited liability company
l1-tFt
Doug Tiefel as Manager
State of Colorado }
} ss.
County of Boulder }
4 in
The foregoing instrument was acknowledged before me this 2 l da : _ , 2004 by DOUG TIEFEL
as Manager of River Runs Through It, LLC, a Colorado limited liab f� c ��
Witness by hand and official seal.
•
1 ,
Notary Public F`` . tyLy '• moo;
Commission expiration: �5�2�lOS
111111111111IIIII111111III/111111111111III11111 Ell
/III
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BOARD OF COUNTY COMMISSIONERS
LD COUNTY,COLORADO
Robert D. Masden, Chair 12/20/2004
ATTEST: L /
Weld County Clerk to �Io.
1861 (f. Mt
• ` 479�.'
Deputy Clerk to the, ,
4/
/
APPROVED AS TO FO :
C',fit Attorney '
HUM ROHM MRS 111111III IIIII IIII1111
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&0004'- 36'77
EXHIBIT A
Name of Subdivision
or Planned Unit Development: Pelican Shores,PUD
Filing: Block 1
Location: Northwest corner of Weld County Roads 13 and 26
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)
Estimated
Construction
Improvements Ouantity Units Unit Costs Cost
Site grading
Street grading $ 106,812
Street base
Street paving $ 110,940
Curbs, gutters and culverts $ 25,455
Sidewalk $ 26,765
Storm sewer facilities $ 25,643
Retention ponds
Ditch improvements
Subsurface drainage
Sanitary sewers $ 98,154
Trunk and forced lines
Mains
Laterals(house connected) 1 L.S. $ 800 $ 800
Water maths(includes bore)
Fire hydrants
Survey and street monuments and boxes 1 L.S. $ 10,000 $ 10,000
Street lighting 5 $ 2,000 $ 10,000
Street name signs 7 $ 150 $ 1,050
Fencing requirements
Landscaping 1 L.S. $ 19,765 $ 19,765
Park improvements
Road culvert
Grass lined swale
Telephone 26 per lot $ 1,000 $ 26,000
Gas 1 L.S. $ 179,100 $ 179,100
Electric 26 per lot $ 2,500 $ 65,000
Recreation Area Sanitation Vault 1 L.S. $ 15,000 $ 15,000
Subtotal $ 720.484
Engineering and supervision costs 1 L.S. $ 7,500 $ 7,500
Total S 727.984
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(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 $727,984.
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.
APPLICANT: RIVER RUNS THROUGH IT,LLC
a Colorado limited liability company
't�s�uL 1\cum_^
Doug Tiefel as Manager
-k C
Date: this day •se 2004.
(If corporation,to be signed by President and attested to by Secretary, together with corporate seal.)
1 11111 11111 111111 1111!III!!11J) I1I til l3256530 01/26/2005 04:28P Weld County, CO
VIII
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9
EXHIBIT B
Name of Subdivision
or Planned Unit Development: Pelican Shores PUD
Filing: Block 1
Location: Northwest corner of Weld County Roads 13 and 26
Intending to be legally bound,the undersigned Applicant hereby agrees to provide throughout this Subdivision
or Planned Unit Development the following improvements.
All improvements shall be completed within two (2) years from the date of approval of the final plat.
Construction of the improvements listed in Exhibit A shall be completed as follows:
(Leave spaces blank where they do not apply.)
Improvements Time for Completion
Site grading November 2004 -July 2005
Street base November 2004 -July 2005
Street paving November 2004-July 2005
Curbs, gutters and culverts November 2004 -July 2005
Sidewalk November 2004 -July 2005
Storm sewer facilities November 2004-July 2005
Retention ponds
Ditch improvements
Subsurface drainage November 2004 -July 2005
Sanitary sewers November, 2004-April 2005
Trunk and forced lines November, 2004-April 2005
Mains November,2004 -April 2005
Laterals(house connected) November, 2004-April 2005
On-site sewage facilities
On-site water supply and storage
Water mains(includes bore) July-October, 2004
Fire hydrants July-October, 2004
Survey and street monuments and boxes January-May 2005
Street lighting January-May 2005
Street name signs January-May 2005
Fencing requirements
Landscaping January-May 2005
Park improvements
Road culvert
Grass lined swale
Telephone January-May 2005
Gas January-May 2005
Electric January-May 2005
Water transfer November-December 2004
Recreation Area Sanitation Vault
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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.
APPLICANT: RIVER RUNS THROUGH IT,LLC
a Colorado limited liability company
TITLE: Doug Tiefel as Manager
Avk-
Date: this ?9 day of NcIvew.•V3 2004
(If corporation,to be signed by President and attested to by Secretary,together with corporate seal.)
1111111111H mu 111111 iii El Ell III 11111 III fit
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11
CENTRAL WELD COUNTY WATER DISTRICT
November 30, 2004
River Runs Through It, LLC.
c/o Doug Tiefel
P.O. Box 17130
Boulder, CO 80308
RE: Pelican Shores Subdivision South
Dear Doug,
As requested, we have provided herein the amount due to Central Weld County Water District
for the installation of water mains and appurtenances in the referenced development. A detailed
breakout of costs will be forthcoming.
The total amount due for the off-site and on-site water mains and appurtenances, materials, and
installation is $238,375.00.
The total amount due for twenty six (26) tap fees, including the raw water component of the tap
fee is $455,000.00.
As soon as we are in receipt of the total amount of$693,375.00, we will place this project in our
construction schedule in coordination with your overall construction schedule, and we will order
the materials. Please provide a minimum two (2) weeks notice of when we can begin our work.
If you have any questions regarding the above,please advise.
Sincerely,
CENTRAL WELD COUNTY WATER DISTRICT PMO13EC .o 2 200k
E" DATE dr. .a, 2-0-0 No. 459807
"� RECEIVED FROM /j CQil/ /PiGC�LO '/Y��C�/� a
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04"1 4 CASHIER'S CHECK SERIAL#: 0477100033
t Office nua izm(6) ACCOUNT 4861507614
1\\ Purchaser: A RIVER RUNS THROUGH IT LLC
• \\] Purchaser Account'. 1633986153
November 30, 2004
PAY TO THE ORDER OF ***CENTRAL WELD COUNTY WATER DISTRICT***
rN
**Six hundred ninety-three thousand three hundred seventy-five dollars and no cents***
**$693,375.00**
WELLS FARGO BANK,N.A. NOTICE TO PURCHASER--IF THIS INSTRUMENT IS LOST, VOID IF OVER US$693,375 00
BOULDER BUSINESS BANKING STOLEN OR DESTROYED,YOU MAY REQUEST CANCELLATION
� 1242 PEARL STREET AND REISSUANCE.AS A CONDITION TO CANCELLATION AND NON-NEGOTIABLE
BOULDER,CO 80302 REISSUANCE,WELLS FARGO BANK MAY IMPOSE A FEE AND
FOR INQUIRIES CALL(480)394-3122 REQUIRE AN INDEMNITY AGREEMENT AND BOND.
�, Purchaser Copy
°°''1 -24- CASHIER'S CHECK 0477100033 •
\ Office AU# 1210(8)
\ \yF\\ November 30, 2004
''' :,
•
`-) 1-, PAY TO THE ORDER OF ***CENTRAL WELD COUNTY WATER DISTRICT*** •
•
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***Six hundred ninety-three thousand three hundred seventy-five dollars and no cents***
NN) **$693,375.00**
WELLS FARGO BANK,N.A. 7 O IF OVER 693, 7500
BOULDER BUSINESS BANKING - -
1242 PEARL STREET
BOULDER,CO 80302
FOR INQUIRIES CALL(480)394-3122 AUTHOR ORE TWO SIGNATURES R I E THORIZED SIGNATURE
•
(('047 ? 100033(i' is L 21000 24au:486 i SO 76 L4(('
ACKNOWLEDGEMENT AND RECEIPT FOR PAYMENT OF FAIR CONTRIBUTION FOR PUBLIC
SCHOOL SITES
In accordance with/,the Agreement Concerning Fair Contributions for Public School Sites between
the ReLLecM S'-r1i'-vD (Weld County) and the St. Vrain Valley School District RE-1J, the
St. Vrain Valley School District acknowledges that the applicable payments in-lieu of land
dedication for public school sites, as set forth below, has been paid by the person or entity and for
the property described, to be deposited into the Fair Contribution for Public School Sites Account.
Property address (if known): 112-)lookf
Lot and Block Number: ', OTS I - 2 b (
Name of Area or Development: Pc?„i / L r-14,1S /'20 i e
Calculation of Fee Amount(Based on Type of Residential Dwelling)
Single Family Home @$645 per unit
Date Paid:/2a 01 Receipt Number:22G7 y Amount Paid: $ /47, 770_
Feeder Area: (Acct. 29.769.0000.2040.000000./0 .000.00
St. Vraiinn Valley V� School District RE-1J
By: l i(.,1�/G � rkc\Y 8 •
"
Authorized hoot District Repres ive
(NOT VALID WITHOUT SCHOOL DISTRICT SEAL)
P 7 C
` 1tl �e `�1tz,vt t V1V^c UL,/k_
Property Owner(s) Name (please print)
Property Owner(s) Signature(s) (If paid b) Owner) CiU�
Contractor's Name (please print)
Contractor's Signature (If paid by Contractor)
Trade Services San Francisco
MAC A0195-212
One Front Street,21st Floor
- San Francisco,CA 94111
WELLS FARGO BANK, N.A.
TRADE SERVICES DIVISION, NORTHERN CALIFORNIA
ONE FRONT STREET- 21ST FLOOR
MAC #A0195-212
SAN FRANCISCO, CALIFORNIA, 94111
CONTACT PHONE: 1(800) 798-2815 OPTION 1
EMAIL: sftrade@wellsfargo.com
IRREVOCABLE LETTER OF CREDIT
BENEFICIARY:
County Of Weld Letter of Credit No: NZS532910
C/O Board Of County Commissioners Date: December 06, 2004
1555 N. 17TH Avenue
Greeley, CO 80631
At the request and for the account of River Runs Through It, LLC, c/o Doug
Tiefel, P.O. Box 17130, Boulder, CO 80308, we hereby establish our irrevocable
Letter of Credit in your favor in the amount of Nine Hundred Ninety Two Thousand
Eight Hundred Seventy Nine and NO/100 United States Dollars (US $992,879.00).
This Letter of Credit is available with us at our above office by payment of your draft(s)
drawn on us at sight accompanied by your signed and dated statement worded as
follows:
"The undersigned, an authorized representative of County Of Weld
("County "), hereby certifies that River Runs Through It, LLC
("Applicant") has not performed according to the terms and conditions of
the Improvements Agreement for Weld County Road 26 and the
Improvements Agreement for Pelican Shores PUD Bock 1, both
agreements being signed by and between the County and Applicant.
The undersigned further certifies that (I) County has given written notice
to Applicant to cure the default and such default has not been cured up
to this date of drawing under this Letter of Credit and all applicable cure
period (if any) has expired, and (II) The amount of the accompanying draft
drawn under Wells Fargo Bank, N.A. Letter of Credit number NZS532910
represents the amount the County is entitled to draw as a result of the
occurrence of such event of default."
The original of this Letter of Credit for our endorsement must also accompany
each draft on this Letter of Credit of our payment of such draft.
Partial and multiple drawings are permitted under this Letter of Credit.
Each draft must be marked "DRAWN UNDER WELLS FARGO BANK, N. A.
LETTER OF CREDIT NO. NZS532910."
1
This is an integral part of Wells Fargo Bank, N.A. Letter of Credit No. NZS532910
This Letter of Credit expires at our above office on October 6, 2006 but shall be
automatically extended, without written amendment, to October 6 in each succeeding
calendar year unless we have sent written notice to you at your address above by
registered mail or express courier that we elect not to renew this Letter of Credit beyond
the date specified in such notice, which expiration date will be October 6, 2006 or any
subsequent October 6 and be at least sixty (60) calendar days after the date we send
you such notice.
Upon our sending you such notice of the non-renewal of the expiration date of
this letter of credit, you may also draw under this Letter of Credit by presentation to us
at our above address, on or before the expiration date specified in such notice, of your
draft drawn on us at sight accompanied by your signed and dated statement worded as
follows:
"The undersigned, an authorized representative of County Of Weld
("County"), hereby certifies that (1) the County has received notice from
Wells Fargo Bank, N.A. that Letter of Credit No. NZS532910 will not be
renewed beyond its current expiration date and (2) River Runs Through
It, LLC, has failed to obtain and deliver to the County a replacement letter
of credit in form and substance satisfactory to the County."
If any instructions accompanying a drawing under this Letter of Credit request
that payment is to be made by transfer to an account with us or at another bank, we
and/or such other bank may rely on an account number specified in such instructions
even if the number identifies a person or entity different from the intended payee.
This Letter of Credit is subject to the Uniform Customs and Practice For
Documentary Credits (1993 Revision), International Chamber of Commerce Publication
No. 500, and engages us in accordance with the terms thereof.
We hereby engage with you that each draft drawn and presented to us in
compliance with the terms and provisions of this Letter of Credit will be duly honored by
payment to you of the amount requested.
Very truly yours,
WELL ARGO BANK, N. A. /
By:
(A thorized Si nat re
SOCCI LOZA O
ASSISTANT VICE PRESIDENT
2
5_
PELICAN SHORES PUD-BLOCK 2
IMPROVEMENTS AGREEMENT ACCORDING TO
POLICY REGARDING COLLATERAL FOR IMPROVEMENTS
(PRIVATE ROAD MAINTENANCE)
THIS AGREEMENT,made and entered into this _1Fday of ale=.-- ,2004 by and between the County
of Weld, State of Colorado, acting through its Board of County Commissioners, hereinafter called "County, and Columbine
Land Resources, Inc.,a Colorado corporation,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:
Lots 1 — 14 and Tract B of Block 2
Pelican Shores PUD, a subdivision in the County of Weld,
State of Colorado.
WHEREAS, a Final Subdivision/Planned Unit Development (PUD) plat of said property, to be known as Pelican
Shores PUD has been submitted to the County for approval, and
WHEREAS,relevant Weld County Ordinances 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 Improvement
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 A and B 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
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 or Planned Unit
Development to the County for approval prior to the letting of any construction contract. 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.
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3.0 Construction: Applicant shall furnish and install, at its own expense, the Subdivision or Planned Unit
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 which is 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 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.
(THERE IS NO SECTION 5)
6.0 Approval of Streets by the County: Upon compliance with the following procedures by the Applicant,streets
within a Subdivision or Planned Unit Development may be approved by the County as public roads and will be
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maintained and repaired by a Homeowners Association or, in its absence, the owners of lots within the
Subdivision or Planned Unit Development.
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
approval 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 is 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 its streets and recommend that the Board of County Commissioners partially
approve them. Not sooner than nine months after partial approval,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 fmds that the streets are constructed
according to County standards,he or she shall recommend full approval. Upon a receipt of a positive
unqualified recommendation from the County Engineer for approval of streets within the development,
the Board of County Commissioners shall fully approve said streets as public but with private pay.
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. 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 Plat or Subdivision Final Plat. 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 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.
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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 of 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 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 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.
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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 fmancial 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.
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 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 Schedule for minimum materials sampling, testing and inspections found in the
Colorado Department of Transportation(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 fife hydrants are operational and
state the results of fire flow tests.
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9.6 The requirements in paragraphs 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 approval
of the streets 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 approval by the Board of County
Commissioners.
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(PUD)Plan, if any:
10.1 The required acreage as may be determined according to the Weld County Subdivision Regulations
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 according to the Weld County Subdivision Ordinance, 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 according to the Weld
County Subdivision Ordinance. 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.
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6
IN WITNESS WHEREOF,the parties hereto have caused this Agreement to be executed on the day and year first
above written.
APPLICANT: Columbine Land Resources,Inc.
A Colorado corporation
t:Die•`,' 1
r fop,alle.::: e ` t L
T Doug Tiefel as President
'•
A
�i
Se ' r •' a
o, �' rporate Seal)
State of Colorado }
'
} ss.
County of Boulder }
t 61 CAP 4. 1(C/
The foregoing instrument was acknowledged before me thi d 2004 by Doug Tiefel as
•
President of Columbine Land Resources, Inc., a Colorado corpo iori.? •
Witness by hand and official seal. c N�
/as Notary Public ` ,
Commission expiration: c�
BOARD OF COUNTY COMMISSIONERS
LD COUNTY,COLORADO
Robert D. Masden, Chair 12/20/2004
ATTEST: Jal
'1J
Weld County Clerk to I ���F
BY: ® �U
Deputy Clerk to the Boar •
APPROVED AS TO FORM:
unty Attorney
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EXHIBIT A
Name of Subdivision
or Planned Unit Development: Pelican Shores, PUD
Filing: Block 2
Location: West side of Weld County Road 13 and between Weld County Roads 26 and 28
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)
Estimated
Construction
Improvements Ouantity Units Unit Costs Cost
Site grading
Street grading 1 l.s. $ 46,260.00 $ 46,260.00
Street base 5700 I.f. $ 2.10 $ 11,970.00
Street paving 8335 s.y. $ 10.80 $ 90,018.00
Curbs,gutters and culverts $ -
Sidewalk $ -
Storm sewer facilities 1 l.s. $ 3,610.00 $ 3,610.00
Retention ponds $ -
Ditch improvements $ -
Subsurface drainage $ -
Sanitary sewers 1 1.f. $ 11,430.00 $ 11,430.00
Trunk and forced lines $ -
Mains $ -
Laterals(house connected) $ -
On-site sewage facilities $ -
On-site water supply $ -
Water mains(includes bore) 1 l.s. $ 124,127.00 $ 124,127.00
Fire hydrants $ -
Survey and street monuments and boxes 1 1.s. $ 8,000.00 $ 8,000.00
Street lighting 3 $ 2,000.00 $ 6,000.00
Street name signs 5 $ 150.00 $ 750.00
Fencing requirements $ -
Landscaping 1 1.s. $ 10,275.00 $ 10,275.00
Park improvements $ -
Road culvert $ -
Grass lined swale $ -
Telephone 14 per lot $ 1,000.00 $ 14,000.00
Gas 1 l.s. $ 38,000.00 $ 38,000.00
Electric 14 per lot $ 2,500.00 $ 35,000.00
Water transfer 15 per lot $ 11,000.00 $ 165,000.00
Recreation Area Sanitation Vault 1 l.s. $ 15,000.00 $ 15,000.00
Subtotal $ 579.440.00
Engineering and supervision costs 1 I.s. $ 15,000.00 $ 15,000.00
$
11111111111111111111111 liii 111111 111111 III 11111 liii Jill 594,440.00
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(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 $ 594,440.00.
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.
APPLICANT: Columbine Land Resources,Inc.
a Colorado corporation
c1/4-",c-s - T�eFa2�
Doug Tiefel as President
Date: ¢xAsT �F) 2004
H
o: Secteciafy, illits
• `� ` 4 e Seal)• � nr 1;1
of coigocai , be signed by President and attested to by Secretary,together with corporate seal.)
....
v
1,,,,N I...,.
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EXHIBIT B
Name of Subdivision
or Planned Unit Development: Pelican Shores PUD
Filing: Block 2
Location: West side of Weld County Road 13 and between Weld County Roads 26 and 28
Intending to be legally bound,the undersigned Applicant hereby agrees to provide throughout this Subdivision
or Planned Unit Development the following improvements.
All improvements shall be completed within two (2) years from the date of approval of the final plat.
Construction of the improvements listed in Exhibit A shall be completed as follows:
(Leave spaces blank where they do not apply.)
Improvements Time for Completion
Site grading November 2004 -July 2005
Street base November 2004 -July 2005
Street paving November 2004-July 2005
Curbs, gutters and culverts November 2004 -July 2005
Sidewalk November 2004-July 2005
Storm sewer facilities November 2004 -July 2005
Retention ponds
Ditch improvements
Subsurface drainage November 2004 -July 2005
Sanitary sewers November, 2004-April 2005
Trunk and forced lines November,2004 -April 2005
Mains November, 2004-April 2005
Laterals(house connected) November, 2004-April 2005
On-site sewage facilities
On-site water supply and storage
Water mains(includes bore) July-October, 2004
Fire hydrants July-October, 2004
Survey and street monuments and boxes January-May 2005
Street lighting January-May 2005
Street name signs January-May 2005
Fencing requirements
Landscaping January-May 2005
Park improvements
Road culvert
Grass lined swale
Telephone January-May 2005
Gas January-May 2005
Electric
January-May 2005
Water transfer November-December 2004
Recreation Area Sanitation Vault
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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.
APPLICANT: Columbine Land Resources,Inc.
a Colorado corporation
Doug Tiefel as President
, , Date: t"\-c‘ w�c� 2,�j 2004
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1 Stgret3ry,Tea, 41(it'
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(If co7(1U1ittli)in,to be signed by President and attested to by Secretary,together with corporate seal.)
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3268631 01/28/2006 04:28P Weld County, CO
11 of 11 R 0.00 D 0.00 Steve Moreno Clerk 8 Recorder
11
ACKNOWLEDGEMENT AND RECEIPT FOR PAYMENT OF FAIR CONTRIBUTION FOR PUBLIC
SCHOOL SITES
In-accordance w�i the Agreement Concerning Fair Contributions for Public School Sites between
the 1 7's` o n1C 4/) (Weld County) and the St. Vrain Valley School District RE-1J, the
St. Vrain Valley School District acknowledges that the applicable payments in-lieu of land
dedication for public school sites, as set forth below, has been paid by the person or entity and for
the property described, to be deposited into the Fair Contribution for Public School Sites Account.
Property address (if known):
Lot and Block Number: `O7"-`D ( -11( 4 , ifX° (C2- ��)✓�`-`-'
Name of Area or Development:
Calculation of Fee Amount (Based on Type of Residential Dwelling)
Single Family Home @ $645 per unit
Date Paid:/) OBI Receipt Number: 022bc1 O Amount Paid: $ 9 Oso, 6,0,
Feeder Area: (Acct. 29.769.0000.2040.000000)0 .000.00
St. Vrain Valley School District RE-1J
By:
Authorize School District Re ntative
(NOT VALID WITHOUT SCHOO DISTRICT SEAL)
0- AUp
Property OwjUbr(s) Name (pleasekprint)
/
Property Owner(s) Signature(s) (If paid by Owner)
Contractor's Name (please print) JJJ
Contractor's Signature (If paid by Contractor)
Heritage Bank
— Lafayette•95th St.
2695 North Park Drive • Suite 101 • Lafayette, CO 80026-3166
303-666-0111 Fax 303-666-1904 www.heritagebanks.com
Heritage Bank
2695 North Park Drive
Lafayette, Co 80026
Irrevocable Letter of Credit
Number 555566501
December 9, 2004
BENEFICIARY:
County of Weld
C/O Board of County Commissioners
1555 N 17th Avenue
Greeley, CO 80631
At the request and for the account of Columbine Land Resources, Inc, c/o Doug Tiefel,
P. O. Box 17130, Boulder, CO 80308, we hereby establish our irrevocable Letter of Credit in
your favor in the amount of Five Hundred Ninety Four Thousand Four Hundred Forty and
NO/100 United States Dollars (US $594,440.00). This Letter of Credit is available with us
at our above office by payment of your draft(s) drawn on us at sight accompanied by your
signed and dated statement worded as follows:
"The undersigned, an authorized representative of County of Weld ("County)
hereby certifies that Columbine Land Resources, Inc ("Applicant") has not
performed according to the terms and conditions of the Improvements
Agreement for Pelican Shores PUD Block 2, agreement being signed by and
between the County and Applicant. The undersigned further certifies that
(1) County has given written notice to Applicant to cure the default and such
default has not been cured up to this date of drawing under this Letter of
Credit and all applicable cure period(s) if any, have expired. (2) The amount
of the accompanying draft drawn under Heritage Bank Letter of Credit
number 555566501 represents the amount the County is entitled to draw as a
result of the occurrence of such event of default."
The original of this Letter of Credit for our endorsement must also accompany each draft
on this Letter of Credit of our payment of such draft.
Colorado banking at its best.
Partial and multiple drawings are permitted under this Letter of Credit.
Each draft must be marked "Drawn under Heritage Bank Letter of Credit number
555566501."
This Letter of Credit expires at our above office on December 9, 2005 but shall be
automatically extended, without written amendment, to December 9 in each succeeding
calendar year unless we have sent written notice to you at your address above by
registered mail or express courier that we elect not to renew this Letter of Credit beyond
the date specified in such notice, which expiration date will be December 9, 2006 or any
subsequent December 9 and be at least sixty (60) calendar days after the date we send you
such notice.
Upon our sending you such notice of the non-renewal of the expiration date of this
Letter of Credit, you may also draw under this Letter of Credit by presentation to us at our
above address, on or before the expiration date specified in such notice, of your draft drawn
on us at sight accompanied by your signed and dated statement worded as follows:
"The undersigned, an authorized representative of County of Weld ("County")
hereby certifies that (1)the County has received notice from Heritage Bank
that Letter of credit No. 555566501 will not be renewed beyond its current
expiration date and (2) Columbine Land Resources, Inc. has failed to obtain
a replacement Letter of Credit in form and substance satisfactory to the
County."
If any instructions accompanying a drawing under this Letter of Credit request that
payment is to be made by transfer to an account with us or at another bank, we and/or
such other bank may rely on an account number specified in such instructions even if the
number identifies a person or entity different from the intended payee.
We hereby engage with you that each draft drawn and presented to us in compliance
with the terms and provisions of this Letter of Credit will be duly honored by payment to
you of the amount request.
Very Truly Yours,
Heritage Ba
Joseph W Dawson
VP/Managing Officer
Columbine Land Resources, Inc.
� �— Revised 12/16/04
Q5a
Page 1 of 1
Sheri Lockman
From: Peter Schei
Sent: Monday, November 15, 2004 11:54 AM
To: Sheri Lockman •
Cc: Lee Morrison; Peter Schei; ForestPark@mesanetworks.net
Subject: PF-1011 Pelican Shores PUD
Importance: High
Good Morning, Sheri:
I have reviewed the three documents submitted to Public Works wrt PF-1011 Pelican Shores PUD (Improvements
Agreements):
1. Improvements Agreement(Private Road Maintenance)- "Block 1"
2. Improvements Agreement (Public Road Maintenance)-"Weld County Road 26"
3. Improvements Agreement (Private Road Maintenance - "Block 2"
I have compared the above documents with previously submitted documents and find:
THE ABOVE IMPROVEMENTS AGREEMENTS ACCEPTABLE TO PUBLIC WORKS.
Any items not related to transportation /service infrastructure or drainage requirements (such as landscaping)
should be checked by the appropriate representative(s).
The above Improvements Agreements(1,2,3) may be accepted for approval by the Board of County
Commissioners per Public Works recommendation and completion of the requirements of the documents.
Have a good day, Peter.
Peter SCHEE P.E.,N.S.P.E.
Public Works Department
Weld County
pscheYa�co.weld.co us
From: Sheri Lockman
Sent: Friday, November 12, 2004 4:10 PM
To: Lee Morrison; Peter Schei
Subject: Pelican Shores
Doug Tiefel is asking about the information he submitted for Pelican Shores (PF-1011). Have you made any
progress in the review?
,,. .e1714— SSW.
11/15/2004 •
Hello