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HomeMy WebLinkAbout20030830.tiff 6. Deed Restrictions BEEBE DRAW FARMS and yx . , EQUESTRIAN CENTER ti FILING No . 2 2003-0830 Beebe Draw Filing 2 Know all men by those present that the undersigned being the Owner(s),Mortgagee or Lienholders of certain. lands in Weld County, Colorado, described as follows: Legal Description of a parcel of land being a portion of that certain parcel of land described on the boundary survey recorded April 12, 1995 in Book 1487,Page 123 under Reception No. 2433894 on file in the office of the Clerk and Recorder, Weld County, Colorado situate in Sections 4, 5, 8, 9, 10 and 17, Township 3 North, Range 65 West of the 6's Principal Meridian being more particularly described as follows: Beginning at the Southwest Corner of said Section 8 and considering the West line of said Section 8 as bearing North 00°09'35"West and with all bearings contained herein relative thereto;thence along said West line North 00°09'35" West 1994.84 feet to a point on the Southerly line of the corrected first filing plat of Beebe Draw Farms and Equestrian Center recorded December 13, 1989 in Book 1251 under Reception No. 02200074 according to the plat on file in the office of the Clerk and Recorder,said County;thence along the boundary of said plat the following 53 courses and distances;South 73°10'00"East 888.37 feet;thence South 16°50'00" West 153.46 feet; thence South 46°50'08" East 749.22 feet; thence North 55°46'07" East 97.84 feet; thence South 46°59'23" East 1326.17 feet; thence North 83°33'14" East 694.12 feet; thence North 32°48'49"East 257.46 feet to a point on a curve concave to the Northeast having a central angle of 21°56'45" and a radius of 993.66 feet; a radial line passing through said point bears South 31°07'32" West; thence Southeasterly along the arc of said curve 380.60 feet to the end of said curve;thence tangent from said curve South 80°49'12" East 169.63 feet to the beginning of a tangent curve concave to the Southwest having a 1 central angle of 26°11'26" and a radius of 1221.67 feet; thence Southeasterly along the arc of said curve l 558.44 feet to the end of said curve; thence tangent from said curve South 54°37'46"East 70.54 feet;thence North 35°22'14" East 150.48 feet; thence North 85°40'29" East 507.75 feet; thence South 87°32'47" East 399.71 feet; thence South 78°20'53" East 391.38 feet; thence North 13°54'57" West 1387.81 feet; thence South 88°16'34" East 170.52 feet; thence South 37°13'43" East 1250.00 feet; thence South 62°09'58" East 450.00 feet;thence South 79°40'14"East 400.00 feet;thence South 75°25'39"East 450.00 feet;thence North 89°41'05" East 398.67 feet; thence North 00°22'03" East 470.01 feet; thence South 89°41'05" West 50.00 feet; thence North 00°22'04" East 495.00 feet; thence North 89°37'55" West 91.83 feet; thence North 42°24'27" West 646.46 feet;thence North 72°26'31"West 54.60 feet; thence North 17°17'09" West 207.35 feet; thence North 00°16'43" East 348.60 feet; thence North 12°04'51" West 380.71 feet; thence North 06°35'57"West 425.17 feet;thence North 41°32'24"West 327.37 feet;thence North 31°19'19"West 302.66 feet; thence North 23°33'38" West 293.98 feet; thence North 20°56'25" West 650.00 feet; thence North 34°55'56"West 423.91 feet; thence North 52°36'54" West 357.78 feet to a point on the South right-of-way line of Beebe Draw Farms Parkway; thence along said South right-of-way line the following three courses and distances; South 37°23'06" West 155.00 feet to the beginning of a tangent curve concave to the Northwest having a central angle of 28°09'58"and a radius of 1141.35 feet;thence Southwesterly along the arc of said curve 561.08 feet to the end of said curve; thence tangent from said curve South 65°33'04" West 266.94 feet; thence North 24°26'46" West 100.00 feet; thence North 46°08'35 West 1117.27 feet; thence South 74°02'57" West 850.00 feet to a point on a curve concave to the Southwest having a central angle of 21°01'08" and a radius of 986.23 feet; a radial line passing though said point bears North 62°51'38" East; thence Northwesterly along the arc of said curve 361.80 feet to the end of said curve; thence tangent from said curve North 48°09'30"West 225.00 feet; thence South 41°50'30" West 235.00 feet to the beginning of a tangent curve concave to the Southeast having a central angle of 20°43'40" and a radius of 225.00 feet; thence Southwesterly along the arc of said curve 81.40 feet to the end of said curve; a radial line passing 1 ANS through said end of curve bears North 68°53'10" West; thence departing said curve North 68°53'10" West 450.00 feet; thence South 38°50'00" West 331.13 feet; thence North 72°28'11" West 508.22 feet; thence South 86°32'30" West 1532.88 feet; thence South 89°50'25" West 200.00 feet to a point on the West line of said Section 8;thence departing said corrected first filing plat of Beebe Draw Frames and Equestrian Center and along said West line of said Section 8 North 00°09'35"West 206.16 feet to the Northwest Corner of said Section 8; thence along the West line of the Southwest Quarter of said Section 5 North 00°25'20" West 2654.03 feet to the West Quarter Corner of said Section 5; thence along the West line of the Northwest Quarter of said Section 5 North 00°24'27" West 1327.22 feet to the Southwest Corner of the North Half of the Northwest Quarter of said Section 5; thence along the South line of the North Half of the Northwest Quarter of said Section 5 North 89°44'21"East 2631.31 feet to the Southeast Corner of the North Half of the Northwest Quarter of said Section 5; thence along the South line of the Northwest Quarter of the Northeast Quarter from said Section 5 North 89°44'21" East 1331.58 feet to the Southeast Quarter of the Northwest Quarter of the Northeast Quarter of said Section 5; thence along the East line of the Northwest Quarter of the Northeast Quarter of said Section 5 North 00°38'58" West 1325.38 feet to the Northeast Corner of the Northwest Quarter of the Northeast Quarter of said Section 5; thence along the North line of the Northeast Quarter of said Section 5 North 89°39'41"East 1333.17 feet to the Northeast Corner of said Section 5;thence along the North line of the Northwest Quarter of said Section 4 North 89°45'43" East 2638.09 feet to the North Quarter Corner of said Section 4;thence along the North line of the Northeast Quarter of said Section 4 North 89°24'30"East 805.01 feet; thence departing said North line South 40°03'54"East 9.61 feet;thence South 10°09'16" West 45.49 feet; thence South 27°01'56" West 281.98 feet; thence South 35°02'52" West 129.95 feet; thence South 46°24'35" West 113.95 feet; thence South 67°56'11" West 114.41 feet to the beginning of a tangent curve concave to the Southeast having a central angle of 43°14'52" and a radius of 210.00 feet; thence Southwesterly along the arc of said curve 158.51 feet to the end of said curve; thence tangent from said curve South 24°41'19"West 39.72 feet to the beginning of a tangent curve concave to the Southeast having a central angle of 68°10'08" and a radius of 217.23 feet;thence Southeasterly along the arc of said curve 258.45 feet to the end of said curve;thence tangent from said curve South 43°28'49" East 159.97 feet to the beginning of a tangent curve concave to the Southwest having a central angle of 48°38'11" and a radius of 81.88 feet; thence Southwesterly along the arc of said curve 69.51 feet to the end of said curve; thence tangent from said curve South 05°09'21" West 19.20 feet to the beginning of a tangent curve concave to the Northwest having a central angle of 25°54'10" and a radius of 260.90 feet; thence Southwesterly along the arc of said curve 117.95 feet to the end of said curve;thence tangent from said curve South 31°03'31" West 130.58 feet; thence South 09°40'49" West 95.26 feet; thence South 03°11'34" East 116.07 feet to the beginning of a tangent curve concave to the Northeast having a central angle of 36°30'36" East and a radius of 180.24 feet; thence Southeasterly along the arc of said curve 114.85 feet to the end of said curve; thence tangent from said curve South 39°42'10" East 116.57 feet to the beginning of a tangent curve concave to the Northeast having a central angle of 45°22'31" East and a radius of 114.82 feet;thence Southeasterly along the arc of said curve 90.93 feet to the end of said curve;thence tangent from said curve South 85°04'41" East 170.71 feet to the beginning of a tangent curve concave to the Southwest having a central angle of 68°29'30" and a radius of 126.33 feet; thence Southeasterly along the arc of said curve 151.02 feet to the end of said curve;thence tangent from said curve South 16°35'11" East 120.95 feet to the beginning of a tangent curve concave to the West having a central angle of 25°35'07" and a radius of 440.41 feet; thence Southwesterly along the arc of said curve 196.66 feet to the end of said curve; thence tangent from said curve South 08°59'57" West 101.24 feet to the beginning of a tangent curve concave to the Northeast having a central angle of 59°32'10" and a radius of 242.34 feet;thence Southeasterly along the arc of said curve 251.82 feet to the end of said curve;thence tangent from said curve South 50°32'12"East 97.62 ,.� feet; thence North 89°31'48" East 283.17 feet; thence South 31°18'26" East 113.96 feet; thence South J 58°32'01"West57.39 feet;thence South 31°27'59"East 522.19 feet;thence South 10°25'00"East 99.33 feet; 2 thence South 33°44'57" East 157.31 feet; thence South 51°33'07"West 95.52 feet; thence South 00°23'23" East 177.92 feet; thence South 10°18'08" East 78.26 feet; thence South 30°46'04" East 152.46 feet; thence South 47°55'59"East 265.05 feet; thence South 37°58'27" West 164.42 feet; thence South 06°08'57" West 239.20 feet;thence South 33°32'01"East 129.62 feet;thence South 74°20'38"East 218.49 feet;thence South 21°05'43" East 136.12 feet; thence South 05°34'34" East 216.02 feet; thence South 40°38'47" East 130.48 feet; thence South 06°37'24" West 112.76 feet; thence South 13°34'05" East 59.67 feet; thence South 35°26'15"East 136.24 feet;thence South 49°59'28"East 73.11 feet;thence South72°02'53"East 149.26 feet; thence South 28°24'37" East 133.73 feet;thence South 28°24'37" East 133.73 feet; thence South 40°21'43" East 122.55 feet;thence South 31°08'11" East 168.24 feet;thence South 35°26'36" East 144.84 feet;thence South 52°48'46" East 145.60 feet; thence South 53°35'11" East 274.60 feet; thence South 01°31'42" West 75.03 feet;thence South 30°03'25"West 263.26 feet;thence South 06°03'06"East 282.44 feet;thence South 25°15'38" East 337.55 feet; thence South 23°51'00" East 264.59 feet; thence South 29°30'32" East 174.35 feet;thence South 37°11'17"East 96.99 feet;thence South 52°03'02"East 69.68 feet;thence South 55°31'03" East 148.65 feet;thence South 16°11'28" East 138.93 feet; thence South 42°52'22"East 177.69 feet; thence South 25°09'33" East 155.19 feet; thence South 24°47'22" East 180.62 feet; thence South 36°43'50" East 146.03 feet;thence South 25°08'32"West 111.15 feet;thence South 02°01'46"East 227.19 feet;thence South 20°03'30" East 193.90 feet; thence South 12°32'52"East 346.85 feet; thence South 10°22'25" West 264.13 feet; thence South 05°07'51" West 157.19 feet; thence South 32°32'42" West 220,12 feet; thence South 19°19'50"West 268.66 feet;thence South 38°04'09"West284.92 feet;thence South 79°43'19"West 714.61 feet; thence South 24°52'21" West 224.67 feet; thence South 07°13'48" East 37.52 feet to a point on the South line of said Section 10;thence along said South line South 89°28'30"West 283.01 feet to the Northeast Corner of said Section 9; thence along the South line of said Section 9 South 89°41'18" West 5121.15 feet to the Northeast Corner of said Section 17;thence along the East line of said Section 17 South 00°30'21"East 5282.59 feet to the Southeast Corner of said Section 17;thence along the South line of said Section 17 South 89°33'05"West 5327.95 feet to the Southwest Corner of said Section 17; thence along the West line of said Section 17 North 00°29'44" West 5259.39 feet to the POINT OF BEGINNING. Containing 2,307.166 acres,more or less, have by these presents laid out,platted, and subdivided the same into lots,as shown on this plat,under the name and style of Beebe Draw Farms and Equestrian Center,Filing 2, and do hereby dedicate to the public, school district, owners and future owners of this subdivision all ways, public rights-of-way, easements, parks and open space, and other public rights-of-way, easements, parks and open space, and all other public rights-of-way and easements for purposes shown hereon. Executed this Is day of iR;coo 5 r A.D., 200 . Owner J 3 Weld County Planning Dept. SEP 15 2000 AIN DECLARATION OF COVENANTS FOR g� r ; WED E BEEBE DRAW FARMS AND EQUESTRIAN CENTER. FIRS-may i THIS DECLARATION is executed this 27th day of January, 1999; by REI LIMITED LIABILITY COMPANY, a Wyoming limited liability company, doing business in Colorado as INVESTORS LIMITED LIABILITY COMPANY ("Declarant"), and BEEBE DRAW FARMS METROPOLITAN DISTRICT, a Colorado special district (the "District"), for the purpose of affirming the District's rights under Article 5. The Declarant, being the owner of the following- described real property located in the County of Weld, State of Colorado: Lots 1 to 188, inclusive, Replat of Beebe Draw Farms and Equestrian Center, First Filing, according to the recorded plat thereof, Weld County, Colorado; for the purpose promoting and enhancing the value, desirability and attractiveness of the community and maintaining the community in a higher standard than usual, does hereby DECLARE that such property and all improvements thereon shall be held and conveyed subject to the following terms, covenants, restrictions and conditions: ARTICLE 1 �y RESTATEMENT OF PRIOR COVENANTS Declarant's predecessors in interest previously recorded Declarations of Covenants in the Records (as hereafter defined) burdening a portion of the Property, as follows: December 31, 1985, under Reception No. 02037656 in Book 1097; March 3, 1988, under Reception No. 02132909 in Book 1187, and May 25, 1989, under Reception No. 02180722 in Book 1233 (the "Prior Declarations"), This Declaration does hereby and when recorded in the Records shall amend, restate, and supersede in full the Prior Declarations. ARTICLE 2 EXEMPTION FROM COLORADO COMMON INTEREST OWNERSHIP ACT Declarant hereby affirmatively states that at no time shall the annual assessment imposed herein on each Lot or ownership parcel (exclusive of optional user fees and insurance premiums paid by the Association, if any, and specifically excluding assessments, rates, fees, or charges imposed by the District (as hereafter defined), which shall not be limited by any provision of this Declaration) exceed four hundred dollars, or such higher amount as may be hereafter permitted underthe Act(as hereafter defined)to retain this exemption. Therefore,the Property is subject to H38-33.3-105 through 107, C.R.S., but is not subject to the remainder of the provisions of the Colorado Common Interest Ownership Act, as setforth in§38-33.3-101, et seq., CiZ.S. (the "Act"). MIIII IIIII 111111 IIIII 111111 IIII 111111 III VIII IIII IIII °670226 01/29/1999 03:55P Weld County CO of 27 R 136.00 D 0.00 JA Suki Tsukamoto 5 Thchbeebe cov.wpd 1/27/99 ARTICLE 3 DEFINITIONS 3.1 ACC or Architectural Control Committee refers to the committee of the Associa- tion created pursuant to Article 8 of this Declaration. 3.2 Association. The Association is Beebe Draw Farms Property Owners Associa- tion, a Colorado non-profit corporation. Any references in the Subdivision Plat or the PUD to "Beebe Draw Property Owners Association" shall mean the Association. 3.3 Board of Directors. The Board of Directors is the governing board of the Association. 3.4 Bylaws. The Bylaws are the Bylaws of the Association, as they may be amended from time to time. 3.5 Common Elements. The Common Elements, if any, are all the real estate comprising the Property other than Lots and other than the District Facilities, as hereafter defined, all of which shall be owned by the Association. To the extent any real estate is a Common Element at the time this Declaration is recorded, but is thereafter conveyed to the District by deed or other instrument of conveyance recorded in the Records, upon recording .-. of such deed or other instrument of conveyance in the Records, the real property described therein shall immediately cease to be considered a Common Element hereunder and shall then and thereafter be considered a District Facility. 3.6 Common Expenses. The Common Expenses are the expenses or financial liabilities not paid by or the responsibility of the District for the operation of the Community. Common Expense Assessments are the funds required to be paid by each Lot Owner in payment of such Owner's Common Expense liability. These expenses include: (a) expenses of administration, maintenance, construction, improvement, repair or replacement of the Common Elements; (b) expenses of utilities not separately metered and billed directly to the Lot Owners; (c) expenses declared to be Common Expenses by this Declaration; (d) expenses agreed upon as Common Expenses by the Association; and (e) such reasonable reserves as may be established by the Association, whether held in trust or by the Association, for repair, replacement or addition to the Common Elements or any other real or personal property acquired or held by the Association. In addition, some costs and expenses benefitting fewerthan all the Lots shall be a Common Expense, but shall be assessed exclusively against those Lots benefitted, as more fully set forth in Section 11.2. 2 1111 11111 11111 till 11111 IIII HIE Hill 111Jill tallS 3.7 Community. The Community is the Beebe Draw Farms and Equestrian Center, First Filing, as contemplated in the PUD, or so much thereof as may have been designed and constructed from time to time. 3.8 Declarant. The Declarant is REI Limited Liability Company, a Wyoming limited liability company, doing business in Colorado as Investors Limited Liability Company. 3.9 Declaration. The Declaration is this document, including any amendments. 3.10 Director. A Director is a member of the Board of Directors of the Association. 3.11 District. The District is Beebe Draw Farms Metropolitan District, a Colorado special district, or other special districts organized pursuant to State law to provide public facilities or services within the Community. 3.12 District Facilities. The District Facilities are defined in Article 5. 3.13 Environmental Assessment. The Environmental Assessment is that certain written document evidencing the agreement reached between Declarant and the Bureau of Reclamation on March 3, 1997, including but not limited to the Memorandum of Agreement dated February 25, 1997, between the Declarant, District, and Bureau of Reclamation. 3.14 FRICO means The Farmers Reservoir and Irrigation Company, a Colorado corporation. 3.15 FRICO Lease shall mean that certain Grazing and Recreational Lease dated March 4, 1987, between FRICO, as lessor, and Beebe Draw Land Company, Ltd., a Colorado limited partnership, as lessee, as amended, the rights of the lessee thereunder having been assigned to the District. The FRICO Lease was recorded in the Records on March 6, 1987, at Book 1148, Folio 1665, Reception 02090926. 3.16 Improvements. Improvements are any construction, structures, equipment, fixtures or facilities existing or to be constructed on any of the Property which is included in the Community, including but not limited to: Residences, buildings, landscaping, gardens,trees and shrubbery planted by an Owner, the Declarant, or the Association, exterior television and radio satellite dishes, antennae and towers, paving, utility wires, pipes and light poles. 3.17 Lake. The Lake is the Milton Reservoir Lake, owned by FRICO but leased to the District under the FRICO Lease, as assigned. 3.18 Lot. A Lot is a platted portion of the Property designated for separate ownership or occupancy, the boundaries of which are defined on the Subdivision Plat. A parcel of land identified on the Subdivision Plat as an "Outlot"shall not be considered a "Lot"for purposes of this Declaration. 3.19 Lot Owner or Owner. The Lot Owner or Owner is the Declarant or any other Person who owns a Lot. Lot Owner does not include a Person having only a Security Interest 11111111111111111 IIIII I���4�01. O Weld�� N II or any other interest in a Lot solely as security for an obligation. The Declarant is the initial Owner of each and every Lot created and defined by this Declaration and the Subdivision Plat. 3.20 Maiority or Majority of Lot Owners. The Majority or Majority of Lot Owners means Owners representing more than 50 percent of the votes in the Association. 3.21 Manager. A Manager is a person, firm or corporation employed or engaged to perform management services for the Community and the Association. 3.22 Notice. The term Notice shall mean the notice of delinquent Common Expense Assessment provided for in Section 11.3. 3.23 Person. A Person is an individual, corporation, trust, partnership, limited liability company, association, joint venture, government, government subdivision or agency or other legal or commercial entity, or a combination thereof. 3.24 Prior Declarations are those declarations of covenants referred to in Article 1 above burdening a portion of the Property and previously recorded in the Records, which are amended, restated and superseded by this Declaration. 3.25 Property. Property is the land and all Improvements, easements, rights and appurtenances presently owned by Declarant which have been submitted to this Declaration, as described in the first paragraph hereof, or any other lands added hereafter, as provided herein, excluding any District Facilities, land or improvements. 3.26 PUD Plan.The PUD Plan shall mean the Master Plan for the Community as filed with and approved by the Weld County Planning and Zoning Department, as the same may be amended from time to time. 3.27 Records. The Records are the real estate records in the Office of the Clerk and Recorder of Weld County, Colorado. 3.28 Residence. A Residence shall be the building for single-family living, constructed on a Lot, including an enclosed garage attached thereto or connected thereto by an arbor or breezeway. 3.29 Rules. The Rules are the regulations for the use of the Common Elements and the use and occupancy of Lots as they affect the Common Elements and the other Owners, and for the conduct of persons within the Community, as may be adopted from time to time by the Board of Directors pursuant to this Declaration. 3.30 Security Interest. A Security Interest is an interest in and encumbrance upon real estate or personal property, created by contract or conveyance, which secures payment or performance of an obligation. The term includes a lien created by a mortgage, deed of trust, installment land contract. lease intended as security, assignment of lease or rents intended as security, pledge of an ownership interest in the Association, and any other consensual :fen �iivi 11111 lu ll iii IIIIIIit 111111 III11111 iI iii 4 2670226 01/29/1999 03:55P Weld County CO intended as security for an obligation. A nonconsensual lien does not create a Security Interest. 3.31 Soil Management Contract. The Soil Management Contract shall mean that certain contract to be maintained by the District, as cooperator, with the Platte Valley Soil Conservation District,to provide greenbelt management policies to prevent erosion and protect the existing environment of the Common Elements and the District Facilities, if applicable. 3.32 Subdivision Plat. The initial Subdivision Plat is that certain document entitled Corrected First Filing Plat of Beebe Draw Farms and Equestrian Center, recorded in the Records on December 13, 1989, at Reception No. 02200074, in Book 1251 at File 543, which initial Subdivision Plat covered only the first phase of development of the Community. From time to time hereafter there may be one or more additional subdivision plats recorded for subsequent phases of development of the Community.At such time as each additional subdivi- sion plat is approved by Weld County and recorded in the Records, all references herein to "Subdivision Plat"shall also mean and include such subsequently recorded subdivision plat(s). ARTICLE 4 TERM, TERMINATION AND ADDITION OF OTHER LANDS 4.1 Term. This Declaration, every provision hereof, and every covenant and restric- tion contained herein, shall continue in full force and effect for a period of 20 years from the date hereof, unless otherwise specifically provided. The same shall automatically be continued J thereafter for successive periods of 20 years each unless the Owners and holders of Security Interests of at least two-thirds of the Lots then comprising the Property agree to release all or part of the lands so restricted from any one or more of said restrictions, by executing and acknowledging an appropriate instrument in writing for such purposes and recording same in the Records at least one year prior to the expiration of the first 20-year period, or one year prior to the expiration of any successive 20-year period thereafter. 4.2 Termination.This Declaration, or any provision hereof, or any covenant or restric- tion contained herein, may be terminated as to the whole of the Property or any portion thereof, with the written consent of the Owners and holders of Security Interests of at least two-thirds of the Lots then comprising the Property; except that, in order to release one or more Lots from the terms of this Declaration, it shall also take the affirmative vote of all Owners and holders of Security Interests of the Lot or Lots to be released. No such termination shall be effective until a proper instrument in writing has been executed, acknowledged and recorded in the Records. 4.3 Addition of Other Lands. Declarant may at any time, or from time to time, during the term of this Declaration, add other lands within the Community to the Property which is covered by this Declaration. Upon recording in the Records of a Notice of Addition of Lands containing the information set forth in Section 4.4 hereof, the provisions contained in this Declaration shall apply to the additional lands which shall thereupon become part of the Property covered by this Declaration; and thereafter the rights, privileges, duties and liability of the Owners and occupants of the added lands shall be the same as in the case of the 1111111111111111111111111I1111111111111111111111111111 111111 i ii 111111 iii Iilill III 11111 iii Iiii 5 670226 01/29/1999 03:55P Weld County CO A original Property; except that assessments imposed by this Declaration on such additional lands shall commence from the date of recording of the Notice of Addition of Lands 4.4 Notice of Addition of Lands. The Notice of Addition of Lands referred to in Section 4.3 above shall contain the following provisions: (a) a reference to this Declaration, which reference shall state the date of recording hereof and the reception number or book and page numbers of the Records where this Declaration is recorded, and any amendments thereto; (b) a statement that the provisions of this Declaration shall apply to the addi- tional lands in the manner set forth in Section 4.3 above; (c) an exact legal description of the additional lands; and (d) the consent of the owner or owners of the additional lands to subject themselves and their included real estate to this Declaration. ARTICLE 5 DISTRICT AND DISTRICT FACILITIES 5.1 Purpose of District. The District, including other special districts organized to provide publicfacilities and services within the Community, will construct, operate and maintain the District Facilities and furnish public services to the Community in accordance with the District Service Plan as approved by and filed with the County. 5.2 District Facilities. The District Facilities shall mean and include, but not be limited to, the following, all of which shall be owned, managed, or operated by the District for public use in accordance with the provisions of the District Service Plan and State law: (a) the equestrian center buildings, parking areas, arenas and jumping courses; (b) the land leased under the FRICO Lease and the water recreation facilities to be constructed on such land; (c) all roads and storm drainage facilities, to the extent the same shall not have been dedicated to and accepted by Weld County; (d) the public water distribution system, including a pump station and all transmission lines, to the extent the same shall not have been dedicated to and accepted by the Central Weld Water District; (e) the entrance gate house; (f) the District headquarters building,which may be used as the office of the Association; 11111! 1111 EMI"III" Ell liii 6 370226 01/29/1999 03:55P Weld County CO Al (g) all recreational structures, including but not limited to the clubhouse, swimming pool and tennis courts; (h) all components of any public transportation system developed by the District: (i) all television relay and translation equipment installed or constructed or contracted for by the District; and 0) the outlots and open spaces shown on the Subdivision Plat or the PUD Plan, together with the riparian corridor, buffer zones, environmental setback zones, conser- vation easements and related interest in property or facilities identified in the Environmental Assessment. 5.3 Use of District Facilities. (a) The District Facilities shall be available for public use, subject to the right of the District to regulate use of the District Facilities (including but not limited to permitting persons other than Owners of Lots to use the District Facilities, as set forth below) and charge reasonable admission and other rates,fees, and charges for such usage, as determined by the District. (b) If an Owner is delinquent in the payment of such Owner's Common Expense Assessments or real property taxes or assessments (to the extent some or all of such real property taxes or assessments include an amount in favor of the District), the District shall have the right, upon notification by the Association in the case of Common Expense Assess- ments, to suspend such Owner's right to use the District Facilities for so long as such Common Expense Assessments or taxes or assessments remain unpaid; provided that no provision of this Declaration shall affect, limit or otherwise restrict any power or authority provided to the District under State law; and, provided further, that notwithstanding any other provision herein to the contrary, the District shall not restrict an Owner's right to use roads included in the definition of the District Facilities to the extent such roads provide the Owner with access to and from such Owner's Lot. (c) The District shall have the right to grant permits for the use of District Facilities. (d) There shall be no use of the Lake shoreline, except at access points designated by the District or at District beach and recreation areas. ARTICLE 6 • MAINTENANCE OF THE PROPERTY 6.1 Individual Lots. It shall be the duty and obligation of each Lot Owner, at such Lot Owner's expense, to beautify and keep neat, attractive, sightly and in good order and repair J such Owner's Residence and the exterior portions of the Lot. If the Owner does not discharge this obligation then the Association may arrange to have the work done and assess the Owner 7 111111 11111 111 III Ell 111111 III 11111 IIII ilil for the cost of such work plus twenty-five percent(25%) of such cost for inspection. administra- tive costs and overhead of the Association and other incidental expenses.. provided the Associ- ation gives such Lot Owner notice of the Association's intent to have the work done and a reasonable opportunity for the Lot Owner to cure the violation prior to the Association having the work done. 6.2 Duties of Association. The Association shall maintain, repair, replace, beautify and keep all of the Common Elements neat, attractive, sightly, and in good order, to the extent that such functions are not expected to be performed by the District or Weld County or any other political subdivision thereof or of the State of Colorado. The Association may, from time to time, hire and/or contract with third parties to achieve the objectives of this Section 6.2. 6.3 Repairs Resulting From Negligence. Each Lot Owner will reimburse the Asso- ciation for any damages to the Common Elements caused by such Owner's or such Owner's agents or invitees, intentionally or negligently, or by such Owner's failure properly to maintain, repair or make replacements to the Owner's Lot. The Association will be responsible for damage to Lots which is caused by the Association intentionally or negligently, or by the Association's failure to maintain, repair or make replacements to the Common Elements. 6.4 Weld County Powers Not Superseded. Nothing contained herein shall replace or supersede the powers granted pursuant to Section 28.6.6 of the Weld County Zoning Ordinance, or its successorregulations. or§24-67-105(6), C.R.S., as amended,whereby, if the Common Areas are not maintained by the Association in reasonable order and condition in accordance with the PUD Plan, the Weld County Board of County Commissioners may enter upon the affected property and maintain the same following service of written notice and a hearing. The cost of such maintenance by the Board of County Commissioners shall be charged to and paid by the Owners individually or in the form of a Common Expense Assess- ment, and any unpaid assessments shall become a tax lien upon the Lots. ARTICLE 7 ALLOCATED INTERESTS The interest allocated to each Lot has been calculated by the following formula: 7.1 Liability for the Common Expenses. The percentage of liability for Common Expenses allocated to each Lot is based on one share for each Lot compared with the total shares allocated to all the Lots in the Property, subject to the Declarant's rights to add additional lands hereto, thereby increasing the total number of Lots, and/or combine Lots, thereby reducing the total number of Lots. Provided, however, that if an Owner combines two or more Lots as provided herein with the intent of creating one Lot therefrom, such resulting Lot shall continue to be allocated the full percentage originally allocated to the Lots so combined. If a L of i3 subdivided by the Owner and added to other Lots as provided herein, the interest of such subdivided Lot shall be added proportionally to the Lots receiving all or a portion of such subdivided Lot. Nothing contained in this Section shall prohibit certain Common Expenses e" from being apportioned to particular Lots under Article 6 of this Declaration. 11111 11111 nn !jj!1 L Li EEll '1hj'I III IIIII III II 7.2 Votes. Each Lot in the Property shall have the number of votes allocated to such Lot in the Bylaws. Any specific percentage, portion orfraction of Lot Owners, unless otherwise stated herein, means the specified percentage, portion or fraction of all of the votes as allocated in the Bylaws. Nothing contained herein shall be interpreted to establish any voting rights or procedures with regard to District matters. ARTICLE 8 ARCHITECTURAL CONTROL COMMITTEE 8.1 Creation of Committee. There is hereby created a standing committee of the Association to be known as the Architectural Control Committee or ACC, to be composed of not more than five (5) individuals. Members of the ACC shall be appointed by the Board of Directors, to hold office at the will of the Board of Directors. 8.2 Purpose of ACC. The purpose of the ACC is to maintain the superior beauty and quality of the Improvements constructed on the Property, and the harmony thereof with the surroundings, to assure that the natural environment is disturbed as little as possible, to enforce the provisions of the Environmental Assessment, and to evaluate the use and suitability of the proposed Improvements and the effect of the same on any adjacent or neighboring properties. 8.3 Approval of Improvements. Except for initial Improvements constructed by Declarant and Improvements made at any time by the Association, all plans and specifications in connection with (a) building, exterior remodeling, rebuilding, refurbishing or alteration of a Residence, including without limitation the exterior appearance, color or texture; or(b) creation or construction of any Improvements or alterations to the Property, including but not limited to gardening, landscaping, planting, patio covers, awnings, sculpture or artwork, driveway, side- walk, fence, outside deck, or clearing, grading, excavating, filling or similar disturbance of the surface of the land, all of which shall require the prior written approval of the ACC. 8.4 Owner to Submit Plans. Before any construction work begins, the Owner of the Lot shall be responsible for submitting to the ACC complete plans, specifications and color/ material/texture samples for the scheduled work, and obtaining all necessary approvals and permits from Weld County and/or any other applicable governmental entities. 8.5 Construction of Improvements after Approval by ACC. Following approval of proposed Improvements by the ACC, the Lot Owner shall cause the approved Improvements to be made to the Lot in a timely fashion, and in any event within twelve (12) months. 8.6 Guidelines. Standards and Procedures. The ACC shall adopt guidelines, stan- dards and procedures for its day-to-day operations and the performance of its duties under this Declaration, which guidelines, standards and procedures shall be consistently applied for all matters coming before the ACC. 8.7 Compensation of Members of ACC. If authorized by the Board of Directors, the members of the ACC may receive reasonable compensation for services performed. together with reimbursement for actual and reasonable expenses incurred by them in the performance of their duties. St inborn°.cov.wod 1/27/99 9 !111111111111111111111111111 Ilia 1111 III 11111 IIII IIII 8.8 Non-Liability of ACC Members. None of the ACC, any member thereof or the Board of Directors shall be liable to any Owner or to any other person for any loss, damage or injury arising out of or in any way connected with the performance of the ACC's duties under this Declaration. No action taken by the ACC or its members will be deemed to have approved or to have made any representation as to the safety or structural soundness of, or compliance with local building codes or other governmental laws or regulations concerning, the proposed Improvements. ARTICLE 9 RESTRICTIONS ON USE, ALIENATION AND OCCUPANCY 9.1 Improvements to Lots. The following restrictions on construction of Improve- ments apply to the Property; provided, however, that to the extent a portion of the Property is not a Lot; nothing contained herein shall be interpreted to permit an Improvement not otherwise permitted by the Subdivision Plat, the PUD or Weld County: (a) Zoning. Zoning laws, ordinances, resolutions, rules and regulations are considered to be a part hereof, and no provision of this Declaration shall be interpreted to violate any present or future zoning laws, ordinances, resolutions, rules or regulations. (b) Minimum Floor Area. The minimum floor area requirements of this sub- section for any Residence are exclusive of garages, porches and patios. As so described, any Residence erected on a Lot shall have a minimum ground floor area for the main structure of in the case of one-story structures, not less than 1400 square feet at grade; in the case of two- story structures, not less than 800 square feet at grade on the ground floor and at least 800 square feet on the second floor unless the Residence has a full basement, in which case not less than 600 square feet on the second floor; and, in the case of a split-level structure with two or more levels above grade, not less than 1600 square feet among the above ground levels. (c) Maximum Height for Residences. No Residence shall be more than two and one-half (2%) stories in height above grade. (d) Outbuildings:Stables; Paddocks. No outbuildings or accessory buildings other than automobile garages, stables and paddocks are permitted unless connected by roof to the Residence. For only the Lots that have been permitted herein to have horses, a stable and/or paddock area may be constructed, provided such stable and/or paddock area covers no more than 5% of the total area of the Lot, is located behind the Residence, and contains a storage building not larger than 10' x 12' at grade and/or a stable building not larger than 300 square feet per permitted horse. Any riding ring or arena must be included in the calculation of the approved paddock area.The exteriorfinish of permitted automobile garages, stables and paddocks shall be the same materials and colors as the Residence. (e) Location of Residence; Setbacks. The Residence shall be located on the Lot in such a way as to minimize damage to existing terrain, foliage and natural growth, and take advantage of the topography. Nothing contained in this subsection, however, shall unreasonably limit any Owner's ability to construct a Residence upon a Lot. No Residence or other building shall be located on any Lot within or be in violation of the setbacks established 9:1hsh1beebe cov.wpd 1121/99 10 I I{IIII IIIII 111111 IIIII_I I ll MIDI III Ilili I II IIII on the Subdivision Plat or the PUD Plan, or within any riparian corridor, buffer zone, or environmental setback zone identified in the Environmental Assessment. (f) No Modular Homes. No modular or kit-built Residences shall be permitted. However, this provision shall not prohibit modular or kit-built stables or barns. (g) Garage. A garage shall be required and shall be of a size at least large enough to enclose two (2) passenger automobiles. Any detached garage must be set back at least five (5) feet from the front building line of the Residence. No unenclosed carport; either attached or detached, will be permitted. (h) Fences: Walls. No perimeter fencing will be permitted on any Lot. No other fencing will be permitted except as follows: (i) An Owner may construct decorative or privacy fencing or walls in one or more areas adjacent to the Residence, the total area enclosed by which shall not exceed five percent (5%) of the total acreage of the Lot; and (ii) An Owner shall construct a fence, if such Owner elects to construct a swimming pool, and the area within the required fence for a swimming pool shall not be in addition to the 5%area limitation stated in subsec- tion✓� (i) above, unless permitted in advance in writing by the ACC; and (iii) An Owner may construct a fence to enclose a corral or paddock, the total area of.which shall not exceed five percent (5%) of the total acreage of the Lot. If one or more horses are permitted to be and are kept on the Lot, any such area shall be fenced and shall be included in the 5% area restric- tion for a corral or paddock. All fence dimensions and fencing materials shall comply with standards to be established by the ACC. (i) Oil and Gas Wells and Production Facilities. No Residence shall be constructed within 300 feet of an existing legal oil or gas well or production facility. Nothing contained herein shall be deemed to limit or impede the right of the owner of an existing oil or gas well or production facility to obtain access to, drill for, produce, or extract oil or gas from such well or production facility. (j) Outstanding Mineral Interests. Nothing contained herein shall be deemed to limit or impede the right of the owner of a mineral interest to obtain access to, drill for, produce, or otherwise extract any minerals from the Property. (k) Driveways; Drainage Plan. There shall be no interference with the drainage plan set forth in the PUD Plan. In particular but not by way of limitation, culvert pipes to cross road ditches or swales to gain access to Lots shall be set so as not to interfere with the drainage plan. � Hill 1111111111111111111111III) 111111III111111Till t 2670226 01/29/1999 03:55P Weld County CO (I) Swimming Pools. All swimming pools constructed on Lots shall be at or below grade and shall be fenced and covered and/or screened in compliance with the Rules, and shall comply with all applicable govemmental rules and regulations. (m) Stoves and Heating Systems. No coal or fuel oil heating systems or stoves, or any other type of heater or furnace which emits pollutants in excess of EPA standards for residential areas. shall be permitted. Any rooftop solar heating system must be approved by the ACC and, to the greatest extent reasonably possible, all solar panels must be positioned so as not to be visible from adjoining Lots or Common Areas. (n) Landscaping. All the provisions hereof shall be subject to ACC approval and standards that may be adopted from time to time by the ACC: (i) The area immediately surrounding a Residence shall be landscaped and maintained. Dead trees must be removed immediately and replaced during the next planting season. (ii) Within six (6) months after completion of a Residence, a Lot Owner shall plant at least fifteen (15)trees on the Lot, ten (10) of which trees shall be evergreen trees and five (5) of which shall be deciduous trees. Of the 10 evergreen trees, at least five (5) shall be a minimum of five feet (5') in height, and of the 5 deciduous trees, at least two (2) shall be a minimum of ten feet(10') in height. (iii) If the Owner has elected to construct a privacy fence as permitted in subsection 9.1(h) above, the Owner may maintain a garden within the area enclosed by such privacy fence. (iv) Other residential landscaping requiring irrigation must be adjacent to the Residence and shall comprise an area not greater than five percent (5%) of the total acreage of the Lot. (v) No rock, plant material, top soil or similar items shall be removed from any other Lot, from the District Facilities, or from the Common Area by an Owner for the purpose of moving the same to or placing the same upon such Owner's Lot. 9.2 Use Restrictions. The following use restrictions apply to all of the Property; provided, however, that to the extent a portion of the Property is not a Lot, nothing contained herein shall be interpreted to permit a use not otherwise permitted by the Subdivision Plat, the PUD or Weld County: (a) Single-Family Residence. Each Lot is restricted to use as one single- family Residence and accessory uses as permitted herein. A single-family Residence is defined as a single housekeeping unit, operating on a nonprofit, noncommercial basis with a common kitchen and dining area. No room or rooms in any Residence or parts thereof may be rented or leased and no paying guests shall be quartered in any Residence. Nothing 12 Hill ")I' i II"II III"nIl'III I'I 'II"I III BB III III egaiN contained in this Section, however, shall be construed as preventing the renting or leasing of a Lot in its entirety to a single family, in which event a copy of the written lease shall be delivered to the Association. (b) No Other Uses or Commercial Pursuits. Except for those activities conducted as a part of the marketing and development program of the Declarant, no subordi- nate or ancillary use by special review other than those permitted by the PUD Plan, and no industry, business, trade, or commercial activities shall be conducted, maintained or permitted in any part of a Lot, nor shall any Lot be used or rented for transient, hotel or motel purposes. (c) Compliance with Laws. No immoral, improper, offensive or unlawful use may be made of the Property; and Lot Owners shall comply with and conform to all applicable laws, ordinances, rules and regulations of the United States, the State of Colorado, the County of Weld, and the District. The violating Lot Owner shall hold harmless the Association and other Lot Owners from all fines, penalties, costs and prosecutions for any violation or noncompliance. (d) Water Systems and Sewage Disposal. Water for domestic and irrigation use shall be furnished by the District and/or Central Weld Water District in accordance with their rates, rules and regulations. There shall be no individual water wells installed on any Lot, without the written consent of the District and State Engineer. Individual sewage disposal systems which comply with the requirements of the State of Colorado and the Weld County Health Department shall be installed and maintained for each Lot on which a Residence is constructed. (e) Offensive Activities. No noxious, offensive, dangerous or unsafe activity shall be carried on upon any portion of the Property, nor shall anything be done or placed thereon, either wilfully or negligently, which is or may become a nuisance or cause an unreasonable embarrassment, disturbance or annoyance to other Lot Owners or occupants. (f) Annoying Sounds or Odors. No sound or odor, including those caused by household pets or horses, shall be emitted from any portion of the Property which is noxious or offensive to or would interfere with the rights, comforts or convenience of other Lot Owners or occupants. Without limiting the generality of the foregoing, no exterior speakers, horns, whistles, bells or other sound devices, other than security devices used exclusively for security purposes, shall be located or used on any Lot except with the priorwritten approval of the ACC. (g) No Hazardous Activities; Firearms. There shall be no activity or Improve- ment on any portion of the Property which is or might be unsafe or hazardous to any person or property. Without limiting the generality of the foregoing, no hunting shall be permitted, no firearms shall be discharged upon the Property, and no open fires shall be lighted or permitted, except in a contained barbecue while attended and in use for cooking purposes or within an interior or exterior fireplace designed to prevent the dispersal of burning embers. (h) No Unsightliness. All unsightly structures, facilities, equipment, objects and conditions shall be enclosed within a structure, including snow removal equipment and garden or maintenance equipment except when in actual use. S:1hsh\beebe:ov.wpe 1127/99 1111111 "II' 11"11 '11" II'III 'I'I 'II"I III EMI Ilil Storage of Vehicles. Otherthan short-term guests or agents of an Owner, whose vehicles may be parked for no more than 72 hours, no vehicles shall be regularly kept on the Lot in any area other than in the garage. Garages are restricted to occupancy by the Owner of the Lot for storage and for parking spaces for vehicles. Garage doors shall remain closed when not in use for ingress or egress of vehicles. No maintenance equipment, boat, camper (on or off supporting vehicles), trailer, tractor, truck, towed trailer unit, motorcycle, disabled.junked or abandoned vehicle, motor home, mobile home, recreational vehicle or any other vehicle,the primary purpose of which is for recreational, sporting or commercial use, shall be parked or stored in, on or about any Lot or street within the Property, except within the garage or screened from view to the extent permitted by the ACC. Declarant, the Association and the ACC shall have the right to enter unenclosed portions of the Lot to remove and store, at the Owner's expense, vehicles in violation of this Section. (j) Restrictions on Motorized Vehicles. No motorized vehicles other than maintenance vehicles owned by the Association, the District. or oil or gas companies shall be permitted on the Property or on the District Facilities, other than on the private road system or private driveways. This restriction shall specifically include but not be limited to automobiles, motorbikes, dirt bikes, snowmobiles and other recreational off-road vehicles. (k) Vehicle Repairs. No maintenance, service, repair, dismantling or repainting of any type of vehicle, boat, machine or device may be carried on, except within a completely-enclosed structure which screens the sight and sound of the activity from the street and from other Lots. (I) Horses. Horses (not raised for resale or a commercial purpose) shall be permitted only on the lots designated on the Subdivision Plat. Each owner of a horse shall be financially responsible and liable for any damage caused by said horse. Any horse causing or creating a nuisance or unreasonable disturbance or noise shall be permanently removed from the Property. Each Owner shall and does hereby hold the Association and the District harmless from any claim resulting from any action of such Owner's horse(s) or the horse(s) of such Owner's guests. Each Owner electing to have one or more horses shall dispose of manure before it becomes a fly or odor problem and shall control dust in the paddock area. (m) Household Pets. Household pets may not be kept for any commercial purposes, and no wildlife species, especially young or injured animals, may be kept as pets. Dogs, cats and other household pets shall be controlled by their owner at all times, and shall not be allowed off the owner's Lot except when properly leashed or controlled and accompanied by the animal's owner or such owner's representative. Except for horses, no other farm livestock not customarily considered household indoor pets shall be permitted. By way of • example but not by way of limitation, cattle, sheep, pigs, llamas, goats, ducks, geese and chickens are not considered household indoor pets. The number or type of household pets permitted may also be limited by Weld County regulations. Each owner of a permitted pet shall be financially responsible and liable for any damage caused by said pet. Any pet causing or creating a nuisance or unreasonable disturbance or noise shall be permanently removed from the Property. Each Owner shall and does hereby hold the Association and the District harmless j from any claim resulting from any action of such Owner's pet(s) or the pet(s) of such Owner's guests. S:NehtheeCe coy wpd lams 14 1111111111 311111111111111 IIII IIIIII III IIIIII III IIII 1 (n) Access to Common Elements and District Facilities. No Owner shall place any structure whatsoever upon or permit any structure to intrude upon or overhang the Common Elements or the District Facilities, and no Owner shall engage in any activity which would temporarily or permanently deny free access to any part of the Common Elements or the District Facilities by all Owners. No use shall ever be made of the Common Elements or the District Facilities which would deny ingress or egress by any Owner to such Owner's Lot. The foregoing notwithstanding, nothing contained herein shall be interpreted to afford access to the District Facilities not otherwise provided or approved of by the District. (o) Prohibition Against Discrimination. Anything to the contrary herein not- withstanding, these covenants shall be construed as omitting restrictions,if any, based on race. color, national origin, creed, sex, marital status, ancestry, familial status or disability. (p) Restrictions on Garbage and Trash. No refuse, garbage, trash, lumber, grass, shrub or tree clippings, plant waste, compost, metal, bulk materials, scrap, refuse or debris of any kind shall be kept, stored or allowed to accumulate on any of the Property except within an enclosed structure or area appropriately screened from view, except that any container containing such materials may be placed outside at such times as may be necessary to permit garbage or trash pick-up. (q) No Temporary Structures or Building Materials. Except for construction trailers and/or materials, which may be stored for up to six (6) months during actual construc- tion on a Lot or the Common Areas or the District Facilities, no shed, shack, temporary structure or temporary building or building materials shall be placed, stored or maintained upon the Property. (r) Compliance with Insurance Requirements. Nothing shall be done or kept on the Property which could result in a material increase in the rates of insurance or would result in the cancellation of insurance maintained by the Association, without the prior approval of the Association. (s) Further Subdivision of Lots. The Owner of a Lot shall not further subdi- vide that Lot. Provided, however, that nothing in this subsection shall prohibit Declarant or an Owner from subdividing a Lot for the sole purpose of annexing all subdivided portions of such Lot to other adjacent Lots. (t) Restoration in the Event of Damage or Destruction. In the event of damage or destruction of any Improvement on a Lot, the 'Owner thereof shall cause the damaged or destroyed Improvement to be restored or replaced to its original condition or such other condition as may be approved in writing by the ACC, or the Owner shall cause the damaged or destroyed Improvement to be demolished and the Lot to be suitably landscaped, subject to the approval of the ACC, so as to present a pleasing and attractive appearance. (u) Restrictions on Signs and Advertising. No sign, poster, billboard, adver- tising device or display of any kind shall be erected or maintained anywhere within the Property so as to be evident to public view, except for a name plate or sign not exceeding eighteen (18) square inches in area on the main door of each Residence or at the entrance to the Resi- 5:\hshWeebe coy wptl 127/98 I^iiilll IIIII HIV HMI H'I III "III' III I"I 9g7A77F 0i/29/1959 03:55P Weld County CO dence's private drive from the adjoining road, and except signs as may be approved in writing by the Association or the ACC. A sign advertising a Lot for sale or for lease may be placed on such Lot: provided, however, that standards relating to dimensions, color, style and location of such signs shall be determined from time to time by the ACC. 9.3 Restrictions on Alienation. The following restrictions on alienation apply to all of the Property: (a) No Time-Sharinq Plan. No portion of the Property may be conveyed pursuant to a time-sharing plan. (b) Leases. No portion of the Property may be leased or rented for a term of less than 60 days. All leases and rental agreements for Lots shall be in writing and subject to the requirements of this Declaration and the Association. All leases of a Lot shall include a provision that the tenant will recognize and attorn to the Association as landlord, solely for the purpose of having the power to enforce a violation of the provisions of this Declaration against the tenant, provided the Association gives the Owner of such leased Lot notice of the Associa- tion's intent to so enforce and a reasonable opportunity to cure the violation directly, prior to the commencement of an enforcement action. (c) Summary Process. The Association will have the right and power to exer- cise the landlord's rights of summary process against any tenant of a Lot Owner who violates el the Rules. ARTICLE 10 AMENDMENTS TO DECLARATION 10.1 In General. This Declaration may be amended only by vote or agreement of Owners of and holders of Security Interests in Lots to which at least 75 percent of the votes in the Association are then allocated. 10.2 Consent of District. No amendment to the Declaration shall modify or affect the District Facilities or any right or interest of the District without the written consent of the District. 10.3 Limitation of Challenges. An action to challenge the validity of an amendment to the Declaration may not be brought more than one year after the amendment is recorded in the Records. 10.4 Recordation of Amendments. Each amendment to the Declaration must be recorded in the Records, and the amendment is effective only upon recording. ARTICLE 11 ASSESSMENT AND COLLECTION OF COMMON EXPENSES rq 11.1 Apportionment of Common Expenses. Except as provided in Section 11.2, all 1 Common Expenses shall be assessed against all Lots in accordance with their percentage of liability for Common Expenses, subject to the Declarants right to add additional lands, thereby S:NsNbeeoe eov.wob 1/27/93 ����I� III s �ii� AN increasing the total number of Lots. and/or combine Lots, thereby reducing the total number of Lots, and in both cases reallocating the percentages of liability for Common Expenses. This shall include but not be limited to Common Expenses for reasonable maintenance and replace- ment of the Common Elements, notwithstanding the fact that such maintenance and replace- ment could be viewed as benefitting one particular Lot over another. There shall be no assessment against District Facilities or property without the written consent of the District. 11.2 Common Expenses Attributable to Fewer than all Lots. (a) Any Common Expense for services approved by the Board of Directors and provided by the Association to an individual Lot or some Lots but fewer than all the Lots at the request of the particular Lot Owner or Owners shall be assessed against the requesting Lot(s). (b) An assessment to pay a judgment against the Association may be made only against the Lots comprising the Property at the time the judgment was entered, in propor- tion to their Common Expense liabilities. (c) If a Common Expense is caused by the misconduct of a Lot Owner, the Association may assess that expense exclusively against that Lot Owner's Lot. (d) Fees, charges,taxes,impositions, late charges,fines:collection costs and r) interest charged against a Lot Owner pursuant to this Declaration are enforceable as Common Expense Assessments. 11.3 Lien. (a) The Association is hereby granted and shall have a lien on a Lot for a Common Expense Assessment levied against the Lot or fines imposed against its Lot Owner. Fees, charges, late charges, attorney fees, fines and interest are enforceable as assessments under this Section. The amount of the lien shall include all those items set forth in this Section from the time such items become due. If a Common Expense Assessment is payable in install- ments, each installment is a lien from the time it becomes due, including the due date set by any valid Association acceleration of installment obligations. (b) To evidence the Common Expense Assessment on any Lot not paid as set forth herein, the Association may prepare a Notice setting forth the amount of such unpaid assessment, plus interest due and accruing, the name of the Owner being assessed, and a legal description of the Lot on which the assessment remains unpaid. The Notice shall be signed by an officer of the Association and may be recorded in the Records, not less than 10 days after having been mailed to the defaulting Owner at the current address thereof as shown on the records of the Association. (c) A lien for an unpaid Common Expense Assessment is extinguished unless proceedings to enforce the lien are instituted within three years after the full amount of ) the Common Expense Assessment becomes due, except that if an Owner of a Lot subject to a lien under this Section files a petition for relief under the United States Bankruptcy Code, the S:NcnWeebe pw.wpd 12]/99 11111111111111111111111111111111111111 III MID IIII 2670226 09/29/7999 03,54P W.la r.,,,.o,, rn 1 time period for instituting proceedings to enforce the Association's lien shall be tolled until thirty days after the automatic stay of proceedings under Section 362 of the Bankruptcy Code is lifted. (d) This Section does not prohibit an action to recover sums for which Subsection (a) of this Section creates a lien or prohibit the Association from taking a deed in lieu of foreclosure. (e) A judgment or decree in any action brought under this Section shall include costs and reasonable attorney fees for the prevailing party, which shall be additional Common Expense Assessments. (f) A judgment or decree in an action brought under this Section is enforce- able by execution under Colorado law. (g) The Association's lien must be foreclosed by the same judicial procedure by which a mortgage on real estate is foreclosed under Colorado law. In any such foreclosure, the delinquent Owner shall be required to pay all costs and reasonable attorney fees in connec- tion with the preparation and filing of the Notice, as provided herein, and all costs and reason- able attorney fees incurred in connection with the foreclosure. The Association shall have the power to bid on the Lot being foreclosed. Any holder of a Security Interest on a Lot which is the subject of the Association's lien being foreclosed may. but shall not be required to, pay any unpaid assessment and upon such payment, such holder of the Security Interest shall have a lien upon the Lot, including improvements, for the amount paid, of the same rank as the lien of the Association. (h) In any action by the Association to collect Common Expense Assess- ments or to foreclose a lien for unpaid Common Expense Assessments, the court may appoint a receiver for the Lot who shall collect all sums due from that Lot Owner or a tenant of the Lot Owner prior to or during the pendency of the action. (i) If a holder of a first lien Security Interest in a Lot forecloses that Security Interest, the purchaser at the foreclosure sale is not liable for any unpaid Common Expense Assessments against that Lot which became due before the sale, other than the assessments which are prior to that Security Interest under Subsection (b) of this Section of the Declaration. Any unpaid Common Expense Assessments not satisfied from the proceeds of sale become Common Expenses collectible from all the Lot Owners, including the purchaser. (j) Any payments received by the Association in the discharge of a Lot Owner's obligation may be applied to the oldest balance due. (k) By acquiring title to a Lot: an Owner waives all federal and state home- stead or other exemptions with respect to the hen for Common Expense Assessments. 11.4 Certificate of Payment of Common Expense Assessments. The Association, J upon written request, shall furnish a Lot Owner with a written statement setting out the amount of unpaid Common Expense Assessments against the Lot. The statement must be furnished S1heh\beebe cwpd 11 • .w27/99 18 1111111111111 1111111111 "HI Ell 11111111 I1i1111 , III IIII within fourteen(14)calendar days after receipt of the request and is binding on the Association, the Board of Directors and each Lot Owner. A reasonable fee, established by the Board of Directors, may be charged for such statement. 11.5 Acceleration of Common Expense Assessments. In the event of default in which any Lot Owner does not make the payment of any Common Expense Assessment levied against his Lot within 10 days of the date due. the Board of Directors shall have the right to declare all unpaid Common Expense Assessments for the pertinentfiscal year immediately due and payable. 11.6 Commencement of Common Expense Assessments. Common Expense Assessments shall begin on the first day of the month in which conveyance of the first Lot to a Lot Owner other than the Declarant occurs. 11.7 No Waiver of Liability for Common Expenses. No Lot Owner may become exempt from liability for payment of the Common Expense Assessments by waiver of the use or enjoyment of the Common Elements or by abandonment of the Lot against which the Common Expense Assessments are made. • 11.8 Personal Liability of Lot Owners. The Lot Owner of a Lot, at the time a Common Expense Assessment or portion of the assessment is due and payable, is personally liable for the Common Expense Assessment. Personal liability for the Common Expense Assessment e') shall not pass to a successor in title to the Lot unless the successor agrees to assume the es) obligation. ARTICLE 12 PERSONS AND PROPERTY SUBJECT TO DECLARATION 12.1 Compliance with Declaration. All Lot Owners, tenants and occupants of Lots shall comply with this Declaration. The acceptance of a deed or exercise of any incident of ownership or entering into a lease or occupancy of a Lot constitutes agreement that the provi- sions of this Declaration are accepted and ratified by that Lot Owner, tenant or occupant. All provisions recorded in the Records are covenants running with the land, shall bind any Persons having at any time any interest or estate in any portion of the Property, and shall be enforceable by the Association or any Owner or the District, to the extent that any District Facility or interest of the District is affected, directly or indirectly. 12.2 Adoption of Rules. The Board of Directors may adopt Rules regarding the use of the Common Elements and the use and occupancy of Lots as they affect the Common Elements and the other Owners and for the conduct of persons within the Community. ARTICLE 13 BOARD OF DIRECTORS • 13.1 Association Records and Minutes of Executive Board Meetings. The Executive JBoard shall permit any Lot Owner, or holder, insurer or guarantor of a first lien Security Interest secured by a Lot, to inspect the records of the Association and the minutes of Board of 1111111 01111111111111 HUE 11111 III INIIII III III' 3 2670226 01/29/1999 03:55P Weld County CO A. _ n+ n .ee run n a nn .TO Suki Tcukameto Al4 l Directors and committee meetings during normal business hours. The minutes shall be avail- able for inspection within 15 days after any such meeting. 13.2 Powers and Duties. The Board of Directors may act in all instances on behalf of the Association, except as provided in this Declaration or the Bylaws. The Board of Directors shall have, subject to the limitations contained in this Declaration, the powers necessary for the administration of the affairs of the Association and of the Community, which shall include, but not be limited to, the following: (a) adopt and amend Bylaws, Rules and regulations; (b) adopt and amend budgets for revenues, expenditures and reserves; (c) collect Common Expense Assessments from Lot Owners; (d) hire and discharge managing agents; (e) hire and discharge independentcontractors,employees and agents, other than managing agents; (f) institute, defend or intervene in litigation or administrative proceedings or seek injunctive relief for violation of or otherwise enforce the Association's Declaration, Bylaws or Rules in the Association's name, on behalf of the Association or two or more Lot Owners on matters affecting the Community; (g) make contracts and incur liabilities; (h) regulate the use, maintenance, repair, replacement and modification of the Common Elements, including but not limited to the express power to approve conveyance of some or all of the Common Elements to the District for public use, with the District's written consent, and direct the appropriate officer of the Association to execute the necessary convey- ance deed to accomplish the same; (i) cause additional Improvements to be made as a part of the Common Elements; (j) impose and receive a payment,fee or charge forthe use, rental or opera- tion of the Common Elements, and for services provided to Lot Owners; (k) impose a reasonable charge for late payment of assessments and levy reasonable fines for violations of this Declaration, the Bylaws, Rules and regulations of the Association; (I) impose a reasonable charge for the preparation and recordation of amendments to this Declaration and for a statement of unpaid assessments; J S:lhshlbeeoe cov.wpd /27199 20 1111111''III' 1118! LIII II'III 'III 'II"I III 1111111 II I"I (m) provide, at the option of the Board of Directors, for the indemnification of the Association's officers and the Board of Directors, and/or maintain Directors' and officers' liability insurance, and/or maintain any other comprehensive, general or liability insurance deemed appropriate; (n) assign the Association's right to future income, including the right to receive Common Expense Assessments; (o) exercise any other powers conferred by this Declaration or the Bylaws; (p) exercise any other power that may be exercised in this state by legal entities of the same type as the Association; (q) exercise any other power necessary and proper for the governance and operation of the Association; and (r) by resolution, establish permanent and standing committees of Directors to perform any of the above functions under specifically delegated administrative standards, as designated in the resolution establishing the committee. All committees must maintain and publish notice of their actions to Lot Owners and the Board of Directors. However, actions taken by a committee may be appealed to the Board of Directors by any Lot Owner within 15 days of publication of the notice. If an appeal is made, the committee action must be ratified, modified or rejected by the Board of Directors at its next regular meeting. 13.3 Limitations on Board of Directors. The Board of Directors may not act on behalf of the Association to amend this Declaration, to terminate the Community or to elect Directors to the Board of Directors or determine the qualifications, powers and duties or terms of office of members of the Board of Directors, but the Board of Directors may fill vacancies in its membership for the unexpired portion of any term. ARTICLE 14 OPEN MEETINGS • 14.1 Access. All meetings of the Board of Directors, at which action is to be taken by vote, will be open to the Lot Owners, except as hereafter provided. 14.2 Notice. Notice of every such meeting will be given not less than 24 hours prior to the time set for such meeting, by posting such notice in a conspicuous location in the Community, except that such notice will not be required if an emergency situation requires that the meeting be held without delay. 14.3 Executive Sessions. Meetings of the Board of Directors may be held in executive session, without giving notice and without the requirement that they be open to Lot Owners, in either of the following situations only: (a) if no action is taken at the executive session requiring the affirmative vote of Directors; or S IhshWeebe cw.wpd 1/27/99 21 11111111111 111111 11111 11111 lilt 111111 III RIME 1111 (b) if the action taken at the executive session involves personnel, pending litigation, contract negotiations, enforcement actions, matters involving the invasion of privacy of individual Lot Owners, matters which are to remain confidential by request of the affected parties and agreement of the Board or actions taken by unanimous consent of the Board. ARTICLE 15 MISCELLANEOUS PROVISIONS 15.1 Captions. The captions contained in this Declaration are inserted only as a matter of convenience and for reference; and in no way define, limit or describe the scope of this Declaration or the intent of any provision thereof. 15.2 Gender. The use of the masculine gender refers to the feminine gender, and vice versa, and the use of the singular includes the plural, and vice versa,whenever the context of this Declaration so requires. 15.3 Waiver. No provision contained in this Declaration is abrogated or waived by reason of any failure to enforce the same, irrespective of the number of violations or breaches which may occur. 15.4 Validity. The invalidity of any provision of this Declaration does not impair or affect in any manner the validity, enforceability or effect of the remainder, and if a provision is invalid, all of the other provisions of this Declaration shall continue in full force and effect. IN WITNESS WHEREOF,the Declarant has caused this Declaration to be executed this 27th day of January, 1999. REI LIMITED LIABILITY COMPANY, a Wyoming limited liability company, doing business in Colorado as INVESTORS LIMITED LIABILITY COMPANY J / By. i.,,, y,z/..-1 James W. Fell, Development Manager BEEBE DRAW FARMS METROPOLITAN DISTRICT, a Colorado special district, solely for the purpose of affirming the District's rights under Article 5 above By: ,..;,,r- r;f James W. Fell, President 3:1hshlbeebe cov.wpd 1/27/99 77 _ 1111111111111111111111111111111111111111111111111 111111 Al STATE OF COLORADO ss. CITY AND COUNTY OF DENVER ) The foregoing instrument was acknowledged before me this= 'tday of January, 1999, by James W.- Fell as Development Manager of REI Limited Liability Company, a Wyoming pmited-liabilityvompany, doing business in Colorado as Investors Limited Liability Company. 1Nitrless my hand and official seal. IsMycomn'ission expires: .,_ cc; -/-2,./,/ 4 Notary Public STATE OF COLORADO ) ss. CITY AND COUNTY OF DENVER ) The foregoing instrument was acknowledged before me this r`'day of January, 1999, by James W. Fell as president of Beebe Draw Farms Metropolitan District, a special district. Witness my hand and official seal. My commission expires: i' Notary Public — - - - 11111111111111111 III 111 1111 111111 III 1111111111111 2670226 01/29/1999 03:S5P Weld County CO 23 of 27 R 136.00 D 0.00 JA Suits Tsukamoto S:UhshUnebe cov.wpd 1/27/99 23 TABLE OF CONTENTS Page ARTICLE 1 — RESTATEMENT OF PRIOR COVENANTS 1 ARTICLE 2 -EXEMPTION FROM COLORADO COMMON INTEREST OWNERSHIP ACT 1 ARTICLE 3 - DEFINITIONS 2 3.1 ACC or Architectural Control Committee 2 3.2 Association 2 3.3 Board of Directors 2 3.4 Bylaws 2 3.5 Common Elements 2 3.6 Common Expenses 2 3.7 Community 3.8 Declarant 3 3.9 Declaration 3 3.10 Director 3 3.11 District 3 3 3.12 District Facilities 3 Jl 3.13 Environmental Assessment 3 3.14 FRICO 3 3.15 FRICO Lease 3 3.16 Improvements 3 3.17 Lake 3 3.18 Lot 3 3.19 Lot Owner or Owner 3 3.20 Majority or Majority of Lot Owners 4 3.21 Manager 4 3.22 Notice 4 3.23 Person 4 3.24 Prior Declarations 4 3.25 Property 4 3.26 PUD Plan 4 3.27 Records 4 3.28 Residence 4 3.29 Rules 4 3.30 Security Interest 4 3.31 Soil Management Contract 5 3.32 Subdivision Plat 5 ARTICLE 4 —TERM, TERMINATION AND ADDITION OF OTHER LANDS 5 4.1 Term . . . . . . . . . . 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.2 Termination . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 . . . . . . . . . . . . . . 4.3 Addition of Other Lands 5 11111111111 111111 11111111111 llll 111111 III 1111111 II I'll n4 neiieee a4.45P Weld County CO 4.4 Notice of Addition of Lands 6 ARTICLE 5 — DISTRICT AND DISTRICT FACILITIES 6 5.1 Purpose of District 6 5.2 District Facilities 6 5.3 Use of District Facilities 7 ARTICLE 6 — MAINTENANCE OF THE PROPERTY 7 6.1 Individual Lots 7 6.2 Duties of Association 8 6.3 Repairs Resulting From Negligence 8 6.4 Weld County Powers Not Superseded 8 ARTICLE 7 —ALLOCATED INTERESTS 8 7.1 Liability for the Common Expenses 8 7.2 Votes 9 ARTICLE 8 —ARCHITECTURAL CONTROL COMMITTEE g 8.1 Creation of Committee . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 8.2 Purpose of ACC g 8.3 Approval of Improvements 9 8.4 Owner to Submit Plans 9 8.5 Construction of Improvements after Approval by ACC 9 8.6 Guidelines, Standards and Procedures g 8.7 Compensation of Members of ACC g 8.8 Non-Liability of ACC Members . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 ARTICLE 9 - RESTRICTIONS ON USE, ALIENATION AND OCCUPANCY 10 9.1 Improvements to Lots 10 (a) Zoning 10 (b) Minimum Floor Area 10 (c) Maximum Height for Residences 10 (d) Outbuildings; Stables; Paddocks 10 (e) Location of Residence; Setbacks 10 (f) No Modular Homes 11 (g) Garage 11 (h) Fences; Walls 11 (i) Oil and Gas Wells and Production Facilities 11 (j) Outstanding Mineral Interests 11 (k) Driveways; Drainage Plan 11 (I) Swimming Pools 12 (m) Stoves and Heating Systems 12 (n) Landscaping 12 9.2 Use Restrictions . . . . . . 12 (a) Single-Family Residence . . . . . . . . . . . 12 (b) No Other Uses or Commercial Pursuits 13 (c) Compliance with Laws 13 1111111 IIIII 111111 IIIII 111111 LE 111111 III 1111111 II Iii (d) Water Systems and Sewage Disposal 13 (e) Offensive Activities 13 (f) Annoying Sounds or Odors 13 (g) No Hazardous Activities; Firearms 13 (h) No Unsightliness 13 (i) Storage of Vehicles 14 a) Restrictions on Motorized Vehicles 14 (k) Vehicle Repairs 14 (I) Horses 14 (m) Household Pets 14 (n) Access to Common Elements and District Facilities 15 (o) Prohibition Against Discrimination 15 (p) Restrictions on Garbage and Trash 15 (q) No Temporary Structures or Building Materials 15 (r) Compliance with Insurance Requirements 15 (s) Further Subdivision of Lots 15 (t) Restoration in the Event of Damage or Destruction 15 (u) Restrictions on Signs and Advertising 15 9.3 Restrictions on Alienation 16 (a) No Time-Sharing Plan 16 (b) Leases 16 (c) Summary Process 16 7 ARTICLE 10 -AMENDMENTS TO DECLARATION 16 10.1 In General 16 10.2 Consent of District 16 10.3 Limitation of Challenges 16 10.4 Recordation of Amendments 16 ARTICLE 11 —ASSESSMENT AND COLLECTION OF COMMON EXPENSES 16 11.1 Apportionment of Common Expenses 16 11.2 Common Expenses Attributable to Fewer than all Lots 17 11.3 Lien 17 11.4 Certificate of Payment of Common Expense Assessments 18 11.5 Acceleration of Common Expense Assessments 19 11.6 Commencement of Common Expense Assessments 19 11.7 No Waiver of Liability for Common Expenses 19 11.8 Personal Liability of Lot Owners 19 ARTICLE 12 - PERSONS AND PROPERTY SUBJECT TO DECLARATION 19 12.1 Compliance with Declaration 19 12.2 Adoption of Rules 19 ARTICLE 13 - BOARD OF DIRECTORS 19 ^� 13,1 Association Records and Minutes of Executive Board Meetings 19 / 13.2 Powers and Duties 20 13.3 Limitations on Board of Directors 21 11111111111111111111111111111 111111 III 1111111 111111 ' 2670226 01/29/1999 03:55P Weld County CO no _e nn a 49e MA A IA AT TA C-L: T_..,._. A ARTICLE 14 - OPEN MEETINGS 14.1 Access 21 14.2 Notice 21 14.3 Executive Sessions 21 21 ARTICLE 15 — MISCELLANEOUS PROVISIONS 15.1 Captions 22 15.2 Gender 22 15.3 Waiver 22 15.4 Validity 22 22 11111111111111111111111 III 111111 III 1111111111111 2670226 01/29/1999 03:55P Weld County CO 27 of 27 R 136.00 D 0.00 IA Suki Tsukamoto r S:1hchtheebe ccv.wpd 1/27/813 27 7. Improvement Agreements BEEBE DRAW FARMS and EQUESTRIAN CENTER FILING No. 2 Assignment of Improvements Agreement 2-2_ ASSIGNMENT OF FILE COPY IMPROVEMENTS AGREEMENT t THIS ASSIGNMENT OF IMPROVEMENTS AGREEMENT ("Assignment" ) is made as of the day of May, 2000, between REI, LIMITED LIABILITY COMPANY, a Wyoming corporation d/b/a Investors, Limited Liability Company ("Company") , and BEEBE DRAW FARMS METROPOLITAN DISTRICTS NO. 1 and NO. 2 , Colorado special districts ("Districts" ) . RECITALS The Company has entered into that certain Improvements Agreement According Policy Regarding Collateral for Improvements dated May , 2000 ("Improvements Agreement" ) with the County of Weld, Colorado ("County" ) to install various external road improvements ("Improvements" ) , as set forth in Exhibits A and B of the Improvements Agreement, related to development within the Beebe Draw Farms Subdivision, Filing No. 2 ("Development" ) . In accordance with its Consolidated Service Plan, the Districts will be responsible for installing the Improvements set forth in Exhibit A of the Improvements Agreement . In order to more effectively administer the installation of the Improvements, it is necessary and in the best interests of the Company and Districts to assign the provisions of the Improvements Agreement relating to the Improvements to the Districts. The Improvements Agreement is assignable . AGREEMENT In consideration of the mutual agreements, conditions, and undertakings hereinafter set forth, the Company and Districts agree as follows : 1. Assignment . The Company hereby assigns, and the Districts hereby accept the assignment of all terms, conditions, obligations, and provisions of the Improvements Agreement relating to the Improvements . Subject to prior review and approval, the County may waive the collateral and improvements guarantee requirements under Sections 7 . 0 and 8 . 0 of the Improvements Agreement • or authorize alternate collateral and a.m.Dew?en Ma•.Weallat" am.A.wdof lopo'�A2 improvements guarantees for the Improvements installed by the District . ell 2 . Improvements Agreement . Except as expressly provided ' herein, the Improvements Agreement shall continue to be in full force and effect, without amendment, and shall be complied with by the Districts in accordance with its terms . IN WITNESS WHEREOF, the parties have caused this Assignment to be executed on the date set forth below. REI, Limited Liability Company d/b/a Investors, Limited Liability Company • ,� 1 By: U` 'er�.a1! /Ze Title: /1/4%wrte- , Date : 471.4437 2000 STATE OF COLORADO } COUNTY OF D t. 110-5,4-. } s s. The foregoing Assignment i?of Improvements Agreement was acknowledged before me this 31 day of IliDti. , 2000, ' by e)titiCc I\ K.Gu .q as 1%U1 Ali t- it C\ of REI, Limited Liability Company. Witness my hand and official seal . • ota`ry Pubs b'.,._: -,: „commission expires : .1 .2'x k -20&2 , . J t:' oTA R t ft?: , tANSI.4 s 4% �': AU`aLtC p • °F.COtect�'�; 2 BEEBE DRAW FARMS METROPOLITAN BEEBE DRAW FARMS METROPOLITAN DISTRICT NO. 1 DISTRICT NO. 2 • 7(' . C)(LAC.. irman)/ 7CChairman Date: /7, 2000 Date: (45/31 , 2000 STATE OF COLORADO } ss. . COUNTY OF } The foregoing Assignment ,of Improvements Agreement was acknowledged before me this 3 day of , 2000 , by James W. Fell as Chairman of the Board of Directors of Beebe Draw Farms Metropolitan Districts No. 1 and No. 2 . Pr 40mmWatness my hand and official seal . • ' ... nCIA B ''• � : . \us \r~ rE•NpTA R y ° r No• ary Publi ._`� _: �_ a.. �U CitcVejLeitssion expires : '5 ) (c,C10-2 . ,c. tee"' ;: ... G: ACCEPTANCE OF ASSIGNMENT The County of Weld, Colorado, hereby accepts the Assignment of Improvements Agreement on this day of 2000 . By: Title: r 3 AIMPROVEMENTS AGREEMENT ACCORDING do3 POLICY REGARDING COLLATERAL FOR IMPROVEMENTS os' (EXTERNAL ROAD IMPROVEMENTS) THIS AGREEMENT, made and entered into this day of May, 2000, by and between the County of Weld, State of Colorado, acting through its Board of County Commissioners, hereinafter called "County," and REI, LLC, d/b/a Investors LLC, hereinafter called"Applicant." WITNESSETH: WHEREAS, Applicant is the owner of, or has a controlling interest in the following described property in the County of Weld, Colorado: Beebe Draw Farms and Equestrian Center, Filing No. 2, according to the Plat thereof; and WHEREAS, a final Subdivision/Planned Unit Development(PUD) Plat of said property, to be known as Beebe Draw Farms, Filing No. 2, Phases 1-7 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 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, including necessary improvements to County Roads located externally of the Planned Unit Development, 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. Role Dm P.m.edamu,mmrn Wdd Cana.Extern,Road L,— ®-i.C 1.3 Applicant shall furnish drawings and cost estimates for roads within the Subdivision or Planned Unit Development to the County for approval prior to the letting of any construction contract. Before acceptance of the roads within the Subdivision or Planned Unit Development by the County, Applicant shall furnish one set of reproducible "as-built" drawings and a final statement of construction cost to the County. 2.0 Rights-of-way and Easements: Before commencing the construction of any improvements herein agreed upon, Applicant shall acquire, at its own expense, good and sufficient rights-of-way and easements on all lands and facilities traversed by the proposed improvements. All such rights-of-way and easements used for the construction of roads to be accepted by the County shall be conveyed to the County and the documents of conveyance shall be furnished to the County for recording. 3.0 Construction: Applicant shall furnish and install, with funding participation by the County and other developers in proportion to relative traffic use, 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, 2 at Applicant's expense. Any material or work not conforming to the approved plans and specifications shall be removed and replaced to the rip satisfaction of the County at Applicant's expense. 3.4 Applicant shall furnish proof that proper arrangements have been made for the installation of sanitary sewer or septic systems, water, gas, electric and telephone services. 3.5 Said Subdivision or Planned Unit Development improvements shall be completed, according to the terms of this Agreement, within the construction schedule appearing in Exhibit "B." The Board of County. Commissioners, at its option, may grant an extension of the time of completion shown on Exhibit "B" upon application by the Applicant subject to the terms of Section 6 herein. 4.0 Release of Liability: Applicant shall indemnify and hold harmless the County from any and all liability loss and damage County may suffer as a result of all suits, actions or claims of every nature and description caused by, arising from, or on account of said design and construction of improvements, and pay any and all judgments rendered against the County on account of any such suit, action or claim, together with all reasonable expenses and attorney fees incurred by County in defending such suit, action or claim whether the liability, loss or damage is caused by, or arises out of the negligence of the County or its officers, agents, employees, or otherwise except for the liability, loss, or damage arising from the intentional torts or the gross negligence of the County or its employees while acting within the scope of their employment. All contractors and other employees engaged in construction of the improvements shall maintain adequate worker's compensation insurance and public liability insurance coverage, and shall operate in strict accordance with the laws and regulations of the State of Colorado governing occupational safety and health. 5.0 Off-Site Improvements Reimbursement Procedure: The subdivider, applicant, or owner may be reimbursed for off-site road improvements as provided in this section when it has been determined by the Board of County Commissioners that the road facilities providing access to the Subdivision or Planned Unit Development are not adequate in structural capacity, width, or functional classification to support the traffic requirements of the uses of the Subdivision or Planned Unit Development. 5.1 The subdivider, applicant, or owner shall enter into an off-site improvements agreement prior to recording the final plat when the subdivider, applicant, or owner expects to receive reimbursement for part of the cost of the off-site improvements. 5.2 The off-site improvements agreement shall contain the following: rip The legal description of the property to be served. • The name of the owner(s) of the property to be served. A description of the off-site improvements to be completed by the subdivider, applicant, or owner. • The total cost of the off-site improvements. The total vehicular trips to be generated at build-out by the Subdivision, Resubdivision, or Planned Unit Development, as specified by the ITE Trip Generation Manual, or by special study approved by the Board of County Commissioners. A time period for completion of the off-site improvements. The terms of reimbursement. The current address of the person to be reimbursed during the term of the agreement. Any off-site improvements agreement shall be made in conformance with the Weld County policy on collateral for improvements. 5.3 If the subdivider, applicant, or owner fails to comply with the improvements agreement, the opportunity to obtain reimbursement under this section is forfeited. 5.4 When it is determined by the Board of County Commissioners that vehicular traffic from a Subdivision, Resubdivision, or Planned Unit Development will use a road improvement constructed under an improvements agreement, the subsequent subdivider, applicant, or owner shall reimburse the original subdivider, applicant, or owner, for a portion of the original construction cost. In no event shall the original subdivider, applicant, or owner collect an amount which exceeds the total cost of improvements less the pro rata share of the total trip impacts generated by the original development. Evidence that the original subdivider, applicant, or owner has been reimbursed by the subsequent subdivider, applicant or owner shall be submitted to the Department of Planning Services prior to recording the Subdivision, Resubdivision, or Planned Unit Development Final Plat. 5.5 The amount of road improvement costs to be paid by the subsequent subdivider, applicant, or owner of a Subdivision, Resubdivision, or Planned Unit Development using the road improvements constructed under a prior improvement agreement will be based upon a pro rata share of the total trip impacts associated with the number and type of dwelling units and square footage and type of nonresidential developments intended to use the road improvement. The amount of road improvement costs shall also consider inflation as measured by the changes in the Colorado Construction Cost Index used by the Colorado Division of Highways. The cost of road improvements may be paid by cash contribution to the prior subdivider, applicant or owner, or by further road improvements which 4 benefit the prior subdivider, applicant, or owner's property. This decision shall be at the sole discretion of the Board of County Commissioners based upon the need for further off-site road improvements. 5.6 The report entitled TRIP GENERATION (Third Edition. 1982) of the institute of Transportation Engineers shall normally be used for calculating a reasonable pro rata share of the road improvement construction costs for all Subdivisions, Resubdivisions, or Planned Unit Developments. A special transportation study shall be used for land uses not listed in the 1.1't Trip Generation Manual. Any question about the number of trips a Subdivision, Resubdivision, or Planned Unit Development will generate shall be decided by the County Engineer. 5.7 The term for which the subdivider, applicant, or owner is entitled to reimbursement under the off-site improvements agreement, entered into between the subdivider and the County, is ten years from the date of execution of a contract for road improvements. 5.8 This provision is not intended to create any cause of action against Weld County or its officers or employees by any subdivider, applicant, or owner for reimbursement, and in no way is Weld County to be considered a guarantor of the monies to be reimbursed by the subsequent subdividers, applicants, or owners. 6.0 Acceptance of Streets for Maintenance by the County: Upon compliance with the following procedures by the Applicant, streets within a Subdivision or Planned Unit Development may be accepted by the County as a part of the County road system and will be maintained and repaired by the County. 6.1 If desired by the County, portions of street improvements may be placed in service when completed according to the schedule shown on Exhibit "B," but such use and operation shall not constitute an acceptance of said portions. 6.2 County may, at its option, issue building permits for construction on lots for which street improvements detailed herein have been started but not completed as shown on Exhibit "B," and may continue to issue building permits so long as the progress of work on the Subdivision or Planned Unit Development improvements in that phase of the development are satisfactory to the County; and all terms of this Agreement have been faithfully kept by Applicant. 6.3 Upon completion of the construction of streets within a Subdivision or Planned Unit Development and the filing of a Statement of Substantial Compliance, the applicant(s) may request in writing that the County Engineer inspect the streets and recommend that the Board of County 5 Commissioners accept them for partial maintenance by the County. Partial maintenance consists of all maintenance except for actual repair of streets, curbs and gutters, and related street improvements. Not sooner than nine months after acceptance for partial maintenance of streets, the County Engineer shall, upon request by the applicant, inspect the subject streets, and notify the applicant(s) of any deficiencies. The County Engineer shall reinspect the streets after notification from the applicant(s) that any deficiencies have been corrected. If the County Engineer finds that the streets are constructed according to County standards, he shall recommend acceptance of the streets for full maintenance. Upon a receipt of a positive unqualified recommendation from the County Engineer for acceptance of streets within the development, the Board of County Commissioners shall accept said streets as public facilities and County property, and shall be responsible for the full maintenance of said streets including repair. 7.0 General Requirements for Collateral: 7.1 The value of all collateral submitted to Weld County must be equivalent to One-Hundred percent (100%) of the value of the improvements as shown in this Agreement. Prior to Final Plat approval, the applicant shall indicate which of the five types of collateral preferred to be utilized to secure the improvements subject to final approval by the Board of County Commissioners and the execution of this Agreement. Except for a phased development as set forth in Section 7.2, 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. Except for a phased development as set forth in Section 7.2. the improvements shall be completed within one 11) year afer the Final Plat approval (not one war 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 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. 7.2 The applicant may, at its option, choose to provide for a phased development by means of designating filings of a Planned Unit Development Final Plan or Subdivision Final Plan. The applicant would 6 need only to provide collateral for the improvements in each filing as approved by the County. 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. The applicant shall complete the improvements for each filing within one (1) year after the designation of such filing, unless (i) a longer period of time is specified for completion in Exhibit "B", or (ii) 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. 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 for each phase. 8.0 Improvements Guarantee: The five types of collateral listed below are acceptable to Weld County subject to final approval by the Board of County Commissioners. 8.1 An irrevocable Letter of Credit from a Federal or State licensed financial institution on a form approved by Weld County. The Letter of Credit shall state at least the following: 8.1.1 The Letter of Credit shall be in an amount equivalent to One- Hundred percent(100%) of the total value of the improvements as set forth in Section 6.0 and Exhibits "A" and"B." 8.1.2 The Letter of Credit 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 7 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 8 (100%) of the cost of the improvements as set forth in the Improvements Agreement plus all costs of sale of the property. 8.2.3 A title insurance policy insuring that the Trust Deed creates a valid encumbrance which is senior to all other liens and encumbrances. 8.2.4 A building permit hold shall be placed on the encumbered • property. 8.3 Escrow Agreement that provides at least the following: 8.3.1 The cash in escrow is at least equal to One-Hundred percent (100%) of the amount specified in the Improvements Agreement. 8.3.2 The escrow agent guarantees that the escrowed funds will be used for improvements as specified in the agreement and for no other purpose and will not release any portion of such funds without prior approval of the Weld County Board of Commissioners. 8.3.3 The escrow agent will be a Federal or state-licensed bank or financial institution. 8.3.4 If Weld County determines there is a default of the Improvements Agreement, the escrow agent, upon request by the County, shall release any remaining escrowed funds to the County. 8.4 A surety bond given by a corporate surety authorized to do business in the State of Colorado in an amount equivalent to One-Hundred percent (100%) of the value of the improvements as specified in the Improvements Agreement. 8.5 A cash deposit made with the County equivalent to One-Hundred percent (100%) of the value of the improvements. 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 9.1 The Engineer or his representative has made regular on-site inspections during the course of construction and the construction plans utilized are the same as those approved by Weld County. 9.2 Test results must be submitted for all phases of this project as per Colorado Department of Transportation (CDOT) Schedule for minimum materials sampling, testing and inspections found in CDOT Materials Manual. 9.3 "As-built"plans shall be submitted at the time the letter requesting release of collateral is submitted. The Engineer shall certify that the project "as- built" is in substantial compliance with the plans and specifications as approved, or that any material deviations have received prior approval from the County Engineer. 9.4 The Statements of Substantial Compliance must be accompanied, if appropriate,by a letter of acceptance of maintenance and responsibility by the appropriate utility company, special district or town for any utilities. 9.5 A letter must be submitted from the appropriate Fire Authority indicating the fire hydrants are in place in accordance with the approved plans. The letter shall indicate if the fire hydrants are operational and state the results of fire flow tests. 9.6 The requirements in Sections 9.0 thru 9.5 shall be noted on the fmal construction plans. 9.7 Following the submittal of the Statement of Substantial Compliance and recommendation of acceptance of the streets for partial maintenance by the County, the applicant(s) may request release of the collateral for the project or portion of the project by the Board. This action will be taken at a regularly scheduled public meeting of the Board: 9.8 The request for release of collateral shall be accompanied by "Warranty Collateral" in the amount of fifteen percent (15%) of the value of the improvements as shown in this Agreement excluding improvements fully accepted for maintenance by the responsible governmental entity, special district or utility company. 9.9 The warranty collateral shall be released to the applicant upon final acceptance by the Board of County Commissioners for full maintenance under Section 5.3 herein. 10.0 Public Sites and Open Spaces: When the Board of County Commissioners, pursuant to a rezoning, Subdivision or Planned Unit Development, requires the dedication, development and/or reservation of areas or sites other than 10 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 according to Section 8-15-B of the Weld County Subdivision Ordinance 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 Section 8-15-B of 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 Section 8-15-B of 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. 11 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed on the day and year first above written. el APPLICANT: REI, LLC, d/b/a Investors LLC Name:.'-Seir ,d,t % Title: /)9u^7.e ,c 53 i . Subscribed and sworn to before me this :�;� day of 2000. My Commission expires: .. 2 k 2004 'V OTA R y :`' i�t... Pub -;:5-..._..._____,..... - C c 4 i �? { N . . _Dlotary PubligC'tOF. 'CO* 'j •.•\••~fLNYY. 12 BOARD OF COUNTY COMMISSIONERS WELD COUNTY, COLORADO Barbara J. Kirkmeyer, Chair M. J. Geile, Chair Pro-Tern ATTEST: Weld County Clerk to the Board George E. Baxter By: Deputy Clerk to the Board Dale K. Hall Glenn Vaad APPROVED AS TO FORM: County Attorney 13 Exhibit"A" Name of Subdivision: Beebe Draw Farms Location: See attached legal description. Intended to be legally bound,the undersigned Applicant hereby agrees to provide throughout this subdivision and as shown on the subdivision final plat County dated ,20 , recorded on 20 ,in Book Page No. Reception No. ,the following improvements. Beebe Draw Farms Filing No.2,Offsite Roadway Cost for Public Improvements WCR 32/39 Item Qty. Unit Unit Cost Total Cost Grading 1,150 cy $ 4.50 $5,175 Asphalt 303 ton $ 28.40 $8,605 Base Course 2,956 ton $ 18.00 $53,208 Striping 710 If $ 7.50 $5,325 R/R Double Yellow Striping 300 If $ 11.00 $3,300 Sawcut 974 If $ 12.00 $11,688 SUBTOTAL $87,301 WCR 38 - Asphalt 4,730 ton $ 28.40 $134,332 ,-----`] Base Course 2,835 ton $ 18.00 $51,030 J SUBTOTAL $185,362 WCR 32 Grading 800 cy $ 3.41 $2,728 Asphalt 415 ton $ 28.40 $11,786 Base Course 600 ton $ 18.00 $10,800 Striping 1,020 If $ 7.50 $7,650 FUR Double.Yellow Striping 870 If $ 11.00 $9,570 Sawaut 800 If $ 12.00 $9,600 SUBTOTAL $52,134 SUBTOTAL $324,797 Engineering and Supervision Costs $32,480 (testing,Inspection,as-built plans and work In addition to preliminary and final plat supervision of actual construction by contractors.) TOTAL ESTIMATE COST OF IMPROVMENTS AND SUPERVISION OFFSITE $357,277 Beebe Drew Pans\ Exhibits A sdB-F2 dWro.doe The above improvements shall bb constructed in accordance with all County requirements and specifications,and conformance with this provision shall be determined solely by Weld County,or its duly eip authorized agent. Said improvements shall be completed according to the construction schedule set out in Exhibit"B". Date: Beebe Draw PmM B&WWWI:Amid B•P2 off itadee Exhibit"B" Item Schedule for Completion WCR 32/39 To be completed prior to the issuance of the 92" Building Permit. WCR 38 To be completed at the time of construction(Filing No.2,Phase 4)for the entrance to Beebe Draw Farms from WCR 38. WCR 32 To be completed with the construction of the entrance to Beebe Draw Farms from WCR 32 in Filing No.2,Phase 1. r) Beebe Draw PmM Exhibits A.Ad B-F2 cfMte doe SEP-20-0. THU 11 :37 AM WELD CCCX?Y PUBLIC Y1KS7 :AX:9103C46497 y€l p„r.SGE 1 LJ.icaS "-DO' MEMORANDUM TG: Monica Daniels-Mika, Director GATE: July 12, 1999 "ligFROM: Donald Carroll, Engineering Administrator efilid CSUBJECT: S492; Beebe Draw, 2nd Filing, Sketch Plan for PUD s . COLORADO The Weld.County Public Works Department has reviewed this proposal. This project fails primarily under the purview of the Weld County subdivision Ordinance Standards and Section 28 of the zoning Ordinance Standards. Our requirements are as follows: 1. internal Road System: tern#28.3.1.7 is a general statement describing the vehicle circulation system of local, collector, and arterial roads. In the questionnaire, the applicant is incicating the streets will be designed with a normal 60 feet of right-of-way width and 3C feet of paving, including shoulders. An internal traffic analysis shall he performed to determine street classification (in accordance with current standards) including right-of-way widths, depth of asphalt and base or full depth asphalt, and land and shoulder widths. 2. Off Site Improvements;A Road Maintenance and improvements Agreement shall be required. The foilcwing shall be included in the agreement: WCR 39 at the Intereecticn with Beebe Draw Parkway: a. Prior tc issacce of the 47th building permit. improvements to the entrance shall commence. b, i me schedule for completion shall be 75 calendar days. c. Construct accel/decel lanes and a Ief tum lane in accordance with the State Highway access code. d. Provide an additional 15' of right-of-way or easement adjacent to WCR 39, Filing 1 on the plat. intersection improvement at 'NCR 35 and WCR 17: a. Prior to the issuance of the 92nd building permit, a south bound ^aht rum lane from WCR 35 to 'NCR 32 shall be installed in accordance with AASHTO Standards. Filing 2 Commitments in this Agreement: a. Describe an additional 15 of right-of-way adjacent to 'NCR 39, Filing 2 on the plat. b. Prior to the issuance of any building pernet in Filing 2, amerta the Improvements Agreement to address improvements on WCR 32(turn lanes) at the intersection with the development road accessing WCR 32. c. Prior to the issuance of any building permit in Filing 2, amend the Improvements Agreement to upgrade and pave WCR 38 from WCR 39 easterly to the Intersection with the development road accessing'NCR 38. • cc: S-492 pan:e Clarr,t kt. c, ` ' jp ,; Water Service Agreement AMENDMENT NO. ONE TO AGREEMENT FOR WATER SERVICE THIS AMENDMENT NO. ONE TO AGREEMENT FOR WATER SERVICE ("Am n ent No. 1" ) is made and entered into as of this rQ� day of 01 , 1999, by and between CENTRAL WELD COUNTY WATER DISTRICT t"Water District" ) , BEEBE DRAW FARMS METROPOLITAN DISTRICT ("Metro District" ) , and REI LIMITED LIABILITY COMPANY ("Company" ; Water District, Metro District and Company collectively referred to as " Parties" ) . RECITALS A. The Parties have previously entered into the Agreement for Water Service dated as of June 27, 1995 ("Agreement" ) , under which the Water District has agreed to furnish water service to the Property owned by the Company within the Metro District according to the terms, conditions and limitations set forth therein. B. The Parties desire to supplement certain provisions of the Agreement relating to the acquisition and transfer of water supplies for development of the Property. This Amendment No. 1 will serve a beneficial public use and will promote the health, � safety, prosperity, security and general welfare of the inhabitants of the Districts and the Company. AGREEMENT In consideration of the mutual covenants, agreements, and promises hereinafter set forth, the receipt and sufficiency of which are hereby acknowledged, the Parties agree to amend the Agreement as follows : 1 . Paragraph 11 of the Agreement is hereby amended by the addition of the following: Any other provision of this Agreement notwithstanding, if either the Metro District or Company has acquired and transferred water supplies to the Water District, which have not been fully used or credited for use to any water tap issued by the Water District and which the Metro District or Company, as applicable, determines will not be used for the development of the Property within a reasonable time, then such Party may direct that any excess water supply be re-transferred to any person specified by such Party, subject to: (i) all transfer regulations of the Northern District, Northern -Mk Subdistrict, or other water supplier; (ii) payment of any 41, transfer fee charged by the Northern District or Northern BDPMEAWTRSRVCAMD Subdistrict; (iii) if the Water District does not rel purchase the excess water supply, reimbursement of any assessment on such water supply imposed by the Northern District or Northern Subdistrict and paid by the Water District during the current calendar year, prorated as of the transfer date; and (iv) a right of first refusal of the Water District to purchase the excess water supply for the original cost thereof, along with interest thereon from the date of acquisition at the rate of six percent ( 6%) per annum (" Purchase Price" ) . The Water District shall exercise the right of first refusal by making payment of the Purchase Price in certified funds within 30 days after receipt of written notice from the Metro District or Company, as applicable, and if not so exercised, then the right of first refusal shall expire and terminate without condition. Unless impracticable, the Water District will initiate the process to transfer the excess water supply within 30 days after receipt of written notice from the Metro District or Company. The Water District shall not be involved in, and shall have no responsibility for, the terms of sale or payment of the sales price of such excess water supply. Any re- transfer of water supplies shall not be deemed to release or otherwise nullify the obligation of the Metro District and Company to furnish adequate water supplies for the development of the Property according to the terms of the Agreement. 2 . Except as expressly modified by this Amendment No. 1, the Agreement shall remain in full force and effect . All terms and definitions set forth in the Agreement shall have the same meanings and effect hereunder. IN WITNESS WHEREOF, the Parties have executed this Amendment No. 1 as of the date above written. CENTRAL WELD COUNTY TER DISTRICT By: Pr i21ent ( S E A L ) Attest: 6211: Secretary Date: 17 9d , 1999 2 r STATE OF COLORADO } } ss. COUNTY OF } The foregoing instrument was acknowledged before me this a"-e/ day of /i/c"7 , 1999, by ?.i is Li /J_e2-Ce c as President and t-C' rte V as Secretary of the Central Weld Count11Water District . Witness my hand and official seal . My commission expires :,`; 70 2_e_0/ / 6-4- xc• / 2 /4c-mac-%ti rte-, Notary/ublic BEEBE DRAW FARMS METROPOLITAN DISTRICT BY: dOW--P-1 Ja es W. Pres ' czt S E A L ) Attest: Z � �- Thomas A. Burk, Secretary Date: 3—U V1/4.1.-- 1(.4 , 1999 STATE OF COLORADO } ss. COUNTY OF JEFFERSON The foregoing instrument was acknowledged before me this 1(Q`/j day of l)GIRr. , 1999, by James W. Fell as President and Thomas A. Burk as Se �j} y of the Central Weld County Water District. � � 1. w rr��H Witneovly_tra�1`; aad official seal. M c s �i� ex ses : Ill3ol0d- Y g i/ iI11 OF COP��n ; ��k�����` Notary Public sel n REI LIMITED LIABILITY COMPANY, dba Investors Limited Liability Company By: , Manager Date: Of , 1999 STATE OF COLORADO } COUNTY OF T r. evscm. } ss . Th oregoing instrument yes cknowd.edggd before me this day of N C-U , 1999, by KOIl it._ C'e_ ICS/ as Manager of the REI Limited Liability Company, a Wyoming ( limited liability company doing business in Colorado as Investors Limited Liability Company. fl Witness my 3c� ha`k$man4,,�official seal. ‘ W-71/, My commiss�x�:.ekpi r`'� . aIoa. c3,..„,/Q Notary Public el 4 AGREEMENT FOR WATER SERVICE This Agreement for Water Service ("Agreement" ) is made and entered into as of this 27th day of June, 1995, by and between CENTRAL WELD COUNTY WATER DISTRICT ( "Water District" ) , BEEBE DRAW FARMS METROPOLITAN DISTRICT ( "Metro District" ) , each of such Districts being Colorado special districts located in Weld County, and REI LIMITED LIABILITY COMPANY ( "Company") , a Wyoming limited liability company doing business in Colorado as Investors Limited Liability Company. WHEREAS, Water District is organized as a special district pursuant to Section 32-1-101, et seq. , C.R. S . , to furnish treated water within its jurisdictional boundaries; and WHEREAS, Water District purchases water from the Carter Lake Filter Plant, a Colorado municipal corporation, which acquires raw water from the Northern Colorado Water Conservancy District ( "Northern District" ) and its Municipal Subdistrict ( "Northern Subdistrict" ) in accordance with certain agreements between such entities ; and WHEREAS, Metro District is organized as a special district pursuant to Section 32-1-101, et seq. , C.R. S . , to furnish treated water, recreation, roads, and related services within its jurisdictional boundaries; and WHEREAS, Company is the owner of certain real property, as is more specifically described in Exhibit A attached hereto and incorporated herein, zoned and platted as an 800-unit residential development commonly referred to as Beebe Draw Farms and Equestrian Center ( "Property" ) , and desires to receive treated water service for the Property from the Water District or Metro District; and WHEREAS, the Property comprises all of the territory within the Metro District, is not currently within the jurisdictional boundaries of the Water District, but was included into the jurisdictional boundaries of the Northern Subdistrict on March 27, 1986 ; a petition for inclusion of the Property into the Northern District itself is pending final approval by the Secretary of the United States Department of Interior or his delegate; and WHEREAS, Water District, Metro District and Company have determined that the Property can be most efficiently and effectively furnished treated water service by the Water District exclusively utilizing raw water supplied by the Northern District or Northern Subdistrict in accordance with the terms and conditions of service set forth in this intergovernmental contract, which also provides in part for the joint exercise of statutory powers by each District pursuant to Section 29-1-203 , C.R.S . , with the full consent and approval of the Company, THEREFORE, in consideration of the mutual covenants, agreements, and promises hereinafter set forth, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows : 1 . The Water District shall exclusively furnish treated water service to the Property in accordance with Water District rules and regulations and line extension policies as now adopted or as hereafter may be adopted by the Water District for all its customers, except as otherwise specifically provided herein. All such rules, regulations, and rates, fees, and charges of the Water District relating to water service to the Property shall be applied uniformly among similar users within the jurisdictional boundaries of the Water District, including the Property, except as otherwise specifically provided herein. The Water District may, however, establish different rates and other criteria for service within areas of the Water District as provided by statute . The Metro District will not provide treated water service to the Property. 2 . The Metro District or Company shall pay for and provide all water mains and related facilities either within or without the boundaries of the Metro District in order to furnish water service to the Property. The Water District must give its prior written 2 approval to all construction by the Metro District or Company, or its contractors, upon terms approved by the Water District . A. The Water District must approve such construction by the Metro District or Company, or its contractors, by subsequent written agreement providing for the terms of such installation, including requirements that the materials used shall meet all standards of the Water District and that provides for inspection by the Water District of the construction of such water mains and facilities . The cost of all construction shall be paid by the Metro District or Company to the Water District or to the contractors, as the case may be . B . If construction is performed by the Water District or its contractors, a deposit in the amount hereafter specified shall be paid by the Metro District or Company to the Water District as an advance towards the construction cost of such installation. After completion of such construction and acceptance by the Water District, a final adjustment of costs will be made, if necessary. In the event that it is determined that the deposit is insufficient to cover the estimated cost of construction, then the Metro District or Company shall pay to Water District, on demand, additional advances towards the cost of construction. C. The Metro District shall pay a nonrefundable contribution in aid of construction for all offsite transmission and water storage facilities used to furnish water service to the Property in the amount of $300, 000 . No other capital contributions shall be required, except for the actual cost of water mains and appurtenant facilities specified herein. Such contribution in aid of construction shall be paid (i) at such time as the Water District or Metro District has acquired and transferred the raw water supply from the Northern District or Northern Subdistrict 3 to the Water District as hereinafter provided, or (ii) on July 1, 1997, whichever event occurs first . In the event such contribution in aid of construction is not paid for any reason, then this Agreement shall terminate and be of no further force or effect, unless the Water District extends such payment date by written notice. D. If the installation is constructed by the Metro District or Company, or its contractors, the Metro District or Company shall transfer all right , title, and interest in and to such facilities installed as well as necessary easements and appurtenances and related property rights to the Water District by good and sufficient assignment or bill of sale with warranties of title and by general warranty deed. Such transfer shall be made free and clear of all liens and encumbrances . The Metro District or Company shall furnish sufficient evidence of title with a "Form 100" endorsement to a standard ALTA title policy, if required by the Water District . The Metro District or Company shall furnish appropriate lien releases or a good and sufficient bond in form acceptable to the Water District in order to insure that all construction costs have been paid in full . All labor and materials shall be warranted for defects of any kind by the Metro District or Company, or its contractors, for two years from the date of written acceptance of such facilities by the Water District . The Water District, upon receipt of the documents of transfer and evidence of title, shall consider whether to accept or reject the installation. If the Metro District or Company has complied with the applicable provisions of this Agreement and all other conditions precedent to the acceptance of such facilities, the Water District shall approve and accept the transfer and shall thereafter assume all operation, maintenance, repair and replacement of such facilities . In no event shall the Water District assume any ownership, operation, or maintenance of any 4 installation on the service side of a customer' s meter installation. E . The design and fire flow of the water facilities installed to serve the Property shall be subject to review and comment by the fire protection authority with jurisdiction over the Property prior to installation of such facilities. 3 . The Water District will sell water taps in accordance with the terms of this Agreement and Water District rules and regulations for improvements constructed on the Property within the Metro District upon a customer' s application for service and payment of all fees and charges set forth in Water District rules and regulations, subject to the general availability of such water taps and the reasonable responsibility of the Water District to furnish treated water service to the Property recognizing that temporary interruptions of water service may occur. If the Water District cannot furnish an adequate raw water supply for the development of the Property, the Metro District or Company shall acquire adequate raw water supplies for each phase of development of the Property from the Northern District or Northern Subdistrict in accordance with their established policies or from other sources acceptable to the Water District and transfer such water supplies to the Water District for service to the Property in accordance with Water District rules and regulations; provided that, the Metro District may reuse all water acquired and transferred from the Northern Subdistrict to the Water District for irrigation of Metro District recreational facilities or other District purposes, subject to all applicable reuse regulations of the Northern Subdistrict . In order to provide raw water supplies for the Property as herein provided, the Metro District or Company agree to transfer the units of Northern District or Northern Subdistrict water rights so acquired to the Water District for such purpose . The total value of such units shall be applied as a credit against the raw water fee of the Water District at the time of issuance of each such tap; the customer shall pay only the capital improvement 5 fee component of the Water District tap fee and other standard charges due at the time of the tap installation. The Water District will be obligated to serve no more than 800 residential equivalent units on the Property for which an adequate supply has been furnished by the Metro District or Company in accordance with all terms set forth herein. In addition to the rates, fees and charges of the Water District, the Metro District may impose fees and charges to customers within the Metro District for water and facilities furnished by the Metro District, and such fees and charges shall be collected by the Water District from such customers at the time of issuance of water taps and remitted to the Metro District . 4 . Customers within the Water District and Metro District shall commence payment of the uniform rates of the Water District, including minimum fees, on the date of setting of the water meter and the availability of water for use at the tap. 5 . The terms of this Agreement shall apply only to the AP Property, and the water taps provided in accordance herewith may be used only upon the Property which must be located within the jurisdictional boundaries of the Metro District and Water District . The parties hereto agree that this Agreement shall be an intergovernmental service contract subjecting the Property to all terms, provisions, and limitations set forth herein, which Agreement may be recorded establishing covenants running against the Property itself . 6 . The Company shall provide the Water District with an accurate copy of the final plat of the Property to be served by the Water District . If the plat must be approved by the County Commissioners, then a copy of the final plat recorded with the County Clerk must be provided to the Water District . 7 . The Company hereby grants to the Water District and Metro District the right to enter upon the Property and all roads, rights-of-way, and utility easements described on the final plat of 6 the Property to construct, operate and maintain the facilities herein described, together with the right of ingress and egress and the right to cut and trim trees and shrubbery to the extent necessary. The Company shall convey to the Water District all easements reasonably required by the Water District for facilities which are not located in dedicated roads, rights-of-way, or utility easements, on the District' s form of easement, and the Water District shall not be responsible for any delay in providing service to the Property in the event of failure to provide such easements . This provision of the Agreement shall be specifically enforceable by the Water District . 8 . The water facilities herein described are required by dates to be subsequently specified by the Metro District and Company. In the event the Water District installs any such facility, the Water District shall use reasonable diligence in completing such facility by the specified date . If such facilities cannot be installed because of act of God, governmental authority, action of the elements, accident, strikes, labor trouble, inability , to secure materials or equipment, or any cause beyond the reasonable control of the Water District, the Water District shall not be liable therefor or for damages caused thereby. 9 . In the event that the Water District installs such facilities, the Water District shall install the facilities described herein in accordance with good engineering and construction practices after the Company has established platted property lines and the Metro District has excavated streets, rights-of-way, and easements to final grade and prior to the paving of streets and construction of curbs and gutters, if applicable . The Metro District or Company, as applicable, shall reimburse the Water District for any expense due to subsequent changes made by the Metro District or Company. 10 . Water service shall be provided to individual customers on the Property located within the Metro District at the applicable rates adopted from time to time by the Water District for all 7 customers within the jurisdictional boundaries of the Water District in accordance with Water District rules and regulations as now established or as may hereafter be established. On or before the date that payment is made as required in Paragraph 2 . C. of this Agreement, the Company agrees to petition to the Water District to include the Property into the Water District and to pay all costs associated with the inclusion process and to do all other necessary acts to include the Property within the Water District . If the Metro District and Water District determine that it is necessary and desirable to acquire Colorado-Big Thompson water units ( "CBT Water" ) from the Northern District to serve the Property, the Company also agrees to petition to the Northern District to include the Property into the Northern District and to pay all costs associated with the inclusion process and to do all other necessary acts to include the Property into the Northern District . No water service shall be provided except to the Property included within the boundaries of the Metro District, Water District, Northern Subdistrict, and if CBT water is to be utilized thereon, Northern District . All parties agree that no other person or property shall be permitted to receive such water service which is to be furnished only to the Property in accordance with terms and provisions of this Agreement . 11 . The Water District agrees to allow installation of 800 residential equivalent water taps (with no more than 100 tap installations per year, unless specifically approved by the Water District) within the Property which shall be located within the Water District and Metro District, subject to all terms and provisions of this Agreement . All water taps greater than five- eighths inches shall be approved by the Water District . No water taps will be served by the Water District until all applicable terms and conditions of this Agreement have been complied with by the Metro District and Company, including the transfer of the above-described water rights . The Water District acknowledges and agrees that the Property will be developed in various phases and that all such water supplies, mains and related facilities .�� specified in this Agreement shall be acquired, provided, and 8 transferred to the Water District incrementally according to each developmental phase as approved by the Water District, which approval shall not be unreasonably withheld. The water taps furnished hereunder may be used only on the Property which is located within the Metro District, unless otherwise expressly approved in writing by the parties hereto. Any transfer of water taps to other property shall be made in accordance with the terms of a supplemental written agreement and the requirements of the Water District and its rules and regulations. Any right to receive a water tap option or water rights credit under this Agreement, whether upon the Property or at any other place, shall expire and become null and void twenty years after the date of this Agreement; provided that, after such date the Metro District shall have a perfected right to obtain a water tap from the Water District for use within the Property if (i) raw water supplies therefor have been acquired by the Metro District or Company and transferred to the Water District, (ii) the monthly minimum charge (inactive service status) for such water tap is paid to the Water District, and (iii) the Metro District and Company comply with all other Water District rules and regulations . The Metro District and Company shall not encumber, mortgage, or collaterally assign such water tap without the prior written consent of the Water District . The Metro District and Company shall not encumber, mortgage, or collaterally assign such water taps without the prior written consent of the Water District . In all other respects, such water taps or water rights credits shall be treated as the personal property of the Metro District or Company, as applicable . 12 . The Metro District , Company, and future customers within the Property agree to abide by all rates and rules and regulations of the Water District as now established or as may hereafter be established by the Water District; provided that all such rates, rules and regulations shall be uniform throughout the Water District and consistent with the express terms and provisions of this Agreement; provided, however, that the Water District may establish different rates and other criteria for service within �.. areas of the Water District as provided by statute . The Water 9 District shall not be liable for any injury or damage for failure to deliver water for any reason, including but not limited to war, riot, insurrection, Act of God, or breaks or failure of the water system. 13 . This Agreement may be amended from time to time by a written agreement between the parties hereto signed by the duly authorized representatives of such parties . No agent or representative of the Water District or Metro District has the power to amend, modify, alter or waive any provision of this Agreement . Any promise, agreement or representation made by an agent or representative of the Water District or Metro District not herein set forth shall be void and of no further force or effect . 14 . The Metro District and Company understand and agree that all fees, rates, tolls, penalties or charges for services, programs, or facilities furnished by the Water District in accordance with the terms of this Agreement constitute a perpetual lien on the portion of the Property served, and that such lien may be foreclosed in the manner provided by State law, pursuant to Section 32-1-1001 (1) (j ) , C.R. S . In the event that the Metro District, Company or any individual customer, as applicable, fails to abide by any of the terms or conditions of this Agreement, the applicable party which is responsible therefor shall pay all costs and expenses incurred by the Water District as a result of any such breach, including direct and consequential damages, loss of revenue, attorney fees, court costs, expert witness fees, and other expenses . 15 . This Agreement shall be binding upon and inure to the benefit of the heirs, personal representatives, successors, and assigns of the parties hereto. Except as provided herein, this Agreement shall not be assigned without the prior written consent of the Water District . 10 16 . The Agreement dated October 30, 1985, between the Water r) District and Beebe Draw Land Company, Ltd. , relating to the Property has been terminated in accordance with its terms and is no longer effective . The Metro District and Company acknowledge and agree that such Agreement is terminated and of no further force or effect . IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written. CENTRAL WELD COUNTY WATER DISTRICT 7sj,:, By \ !Ja.z� 2L-E1Gti-- residentt � ( S E A L ) Attest : Gt, a Lt1/f\JOW 'Secretary i rr Date : rlk/,t.C/� z(7 , 1995 Pil STATE OF COLORADO ) ss . COUNTY OF ) The foregoing instrument was acknowledged before me is pc- C day of Trt ,Ct , 1995, by - 3- Irv,, f' )211-e2;t62 , as President and tC -, up_, i.c) IGevlc as Secretary of the Central Weld County Water District . Witness my hand and official seal . My commission expires : 4/./e, . 3O) /99' 7 Notary p4blic 11 • BEEBE DRAW FARMS METROPOLITAN DISTRICT ,S A4E TR°4 By ! � kk f "'�. Ja e W1igell, si•ent Atte - : C .` r4Ait a4i Thomas A. Burk, Secretary j�Q(On�O si yam; `,' Date : June 27, 1995 STATE OF COLORADO ) ss . COUNTY OF JEFFERSON ) The foregoing instrument was acknowledged before me this 27th day of June, 1995, by James W. Fell as President and Thomas A. Burk as Secretary of the Beebe Draw Farms Metropolitan District . Witness my hand and official seal . ■ c OylvSOMmission expires : 11/30/96 etoadici,mo Notary Public ti. 12 REI LIMITED LIABILITY COMPANY, dba Investors Limited Liability Company , , . e9 , ic_._., ,:•y./(-----, By Manager ` Date : F'rg ° ` 1995 STATE OF COLORADO ) COUNTY OF aeFTER�SW ) ss . The foregoing instrument was acknowledged before me this a�111\_ day of SuVC2. , 1995, by 1SO(t.12. it Ike (Icy as Manager of the REI Limited Liability Company, a Wyomin4 limited liability company doing business in Colorado as Investors Limited Liability Company. e„,„.O.., LiSn ss my hand and official seal . (t o 19 x �, �ux� =�t,°q�ission expires : , .NQ;' P� Notary Public 13 EXHIBITA Legal Description of Company Property The Property of Company referred to in the foregoing Agreement for Water Service is situated in Weld County, Colorado, and is more specifically described in that certain Sheriff's Deed dated June 17, 1994, recorded in the County records at Book 1447, Folio 0575, Reception No. 02393929, a copy of which is attached hereto as Exhibit A-1 and incorporated herein by reference. • EXHIBIT A B 1447 REC 02393929 06/17/94 16:25 $70.00 1/014 F 0575 MARY ANN FEUERSTEIN CLERK & RECORDER WELD CO, CO AE2343429 DISTRICT COURT, WELD COUNTY, COLORADO Case No. 93 CV 214, Courtroom I SHERIFF'S DEED REI LIMITED LIABILITY COMPANY, a Wyoming limited liability company, doing business in Colorado as INVESTORS LIMITED LIABILITY COMPANY, Plaintiff, s V. • BEEBE DRAW FARMS, LTD. , a Colorado limited partnership; DRS. ELLIOTT, HALSETH & WALKER, P.C. FROZEN PENSION PLAN, formerly known as DRS. ELLIOTT, HALSETH & WALKER, P.C. , DEFINED BENEFIT PENSION PLAN, also known as DRS. ELLIOTT, HANSETH & WALKER DEFINED BENEFIT PENSION PLAN, a trust; LANDE MANUFACTURING COMPANY RETIREMENT PLAN AND TRUST, a trust; DARREL BENSON; WILLIAM S. GRIPMAN; W. GERALD RAINER, M.D.P.C. EMPLOYEES DEFINED BENEFIT PENSION PLAN, a trust; COLORADO CONTAINER CORPORATION EMPLOYEES DEFERRED PROFIT SHARING TRUST, a trust; RICHARD E. SLAUGHTER; RICHARD E. bAMIANO; C. L. PHILLIPS & ASSOCIATES, INC. PROFIT SHARING PLAN, a trust; COLORADO CONTAINER CORPORATION PENSION TRUST, a trust; ROLLIE R. KELLEY; BEEBE DRAW CATTLE CO., a' Colorado limited partnership; and JAMES K. 1CADLECEK, as the Public Trustee in and for Weld county, Colorado; Defendants. THIS DEED is made June 17, 1994, between ED JORDAN as the Sheriff of the County of Weld, State of Colorado, and REI LIMITED LIABILITY COMPANY, a Wyoming limited liability company, doing business in Colorado as INVESTORS LIMITED LIABILITY COMPANY, grantee, the holder of the certificate of purchase, whose legal address is 4221 Monaco Street, Denver, Colorado 80216. WHEREAS, REI LIMITED LIABILITY COMPANY, a Wyoming limited liability company, doing business in Colorado as INVESTORS LIMITED LIABILITY COMPANY, did, in the District Court for the County of Weld, Colorado, obtain a judgment and decree against BEEBE DRAW FARMS, LTD. , dated January 14, 1994, directed to the Sheriff of the County of Weld, Colorado; and WHEREAS, by virtue of said judgment and decree, the Sheriff levied upon the property hereinafter described and, after public notice had been given of the time and place of 0CT 21 '94 10:00 3035340514 PRGE.002 B 1447 BBC 02393929 06/17/94 16;25 $70,00 2/014 ' F 0576 MARY ANN PEUERSTEIN CLERK & RECORDER WILD CO, CO tel sale as required by law, said property was offered for sale and sold according to said notice, and a certificate of purchase was made and recorded in the office of the County Clerk and Recorder; and • WHEREAS, all periods of redemption have expired; NOW, THEREFORE, I, ED JORDAN, Sheriff of the County of Weld, Colorado, in consideration of the premises, confirm the sale and sell and convey to grantee the following described property located in the• County of Weld, State of Colorado, more particularly described in Exhibit A, attached hereto, consisting of twelve (12) pages, incor- porated herein by this reference as though fully set forth, l and including all land lying in the bed of any street, road, avenue, alloy, stream or river, in front of or adjoining the property; all buildings, structures and improvements now on the property, and all fixtures, equipment, appliances and furnishings attached thereto; all proceeds of the conversion, voluntary or involuntary, of any of the foregoing into cash or liquidated claims, including, w_thout limitation, proceeds of insurance and condemnation awards; all the rights (including water rights and shares of water stock) , permits, hereditaments and appurtenances thereto belonging or in any way appertaining; r) and all the rents, issues, uses, profits and income from J the property. • TO HAVE AND TO HOLD the same, with all appurtenances, forever. ED JORDAN, Sheriff of the County of Weld, QColgorado • Da STATE OF COLORADO ) ff as. COUNTY OF WELD ) Ir Th@�foregoing instrument was acknowledgqed before me this /7- day of June, 1994, by /)MARL/ ..5L2fftdARrz. as peputy Sheriff of the County of Weld, Colorado. a);..... witness my hand and official seal. • � ;. .. . �J�`G $y commission expires: /D-to '4t . • / I Ca/Licin a eft N -ry Publ 2 • 0CT 21 '94 10:01 3035340514 PRGE.003 B 1447 REC 02393929 06/17/94 16:25 $70.00 3/014 F 0577 MARY ANN PEUERSTEIN CLERK & RECORDER WELD CO, CO EXHIBIT A TO SHERIFF'S DEED 1 A tract of land located in Sectipns 3, 4, S, 8, S. 10, 15, 16. end 17. Township 3 Worth, Range 65 West of the Sixth Principal Meridian, Weld County. Colorado, being more particularly described as follows: Beginning at the Southeast Corner of said Section 16 and considerin the ' South line of said Section 16 to bear S 89. 27' 03' W with all bearings herein being relative thereto; • Thence along the South line of said Section 16, S $9' 27' 03' V, $139.13 feet to the Southeast Corner of said Section 17; • Thence along the South line of said Section 17, 5 89' 33' 00' W, 5328.46 feet to the Southwest Corner of said Section 17; • Thence along the West line of said Section 17. N 00' 29' 57' W. 1259.91 feet to the Northwest Corner of said Section 17; Thence along the West line of said Section 8, N 00' 09' 35' W. 5292.39 feet to the Northwest Corner of said Section 8; Thence along the West line of said Section 5, N 00' 24' 57' W, 3981.69 feet -to the Southwest Corner of the North Half of the Northwest•Quarter of said • Section 1; • Thence along the South line of said North Half of the Northwest Quarter of • Section 5 N 89' 44' 30' E, 2631.54 feet to the Southeast Corner of the North Half of the Northwest Quarter of said Section S; Thence along the South line of the Northwest Quarter of the Northeast Quarter of said Section 5 N 89' 44' 27' E, 1331.19 feet to the Southeast • Corner of the Northwest Quarter of the Northeast Quarter of said Section S; • •—Thence along the fast line of the Northwest quarter of the Northeast Quarter.: .' • of said Section f N 00' 38' 12' W. 1325.38 feet to the Northeast Corner of the Northwest Quarter of the Northeast Quarter of said Section 6; Thence along the North line of said Section S. N 89' 40' 1S' E. 1333.11 feet to the Northeast Corner of said Section 5; Thence along the North line of said Section 4, N 89' 35' 05' C, 3438.49 fatt 'to the Point of Intersection of the North Line of said Section 4 with the • • centerline of the Platte Palley Canal; , • Pags l of 1R • 0CT 21 '94 10:02 3035340514 PRGE.004 ' O F 0578 MARY ANN 06/17/94 2 NFEU$RSTEIN CLERK 6a, REC0RDER�WILD CO, CO Thence S 40' 041 03' E. 16.81 feet; Thence along the centerline of the Platte Valley Canal as recorded in loot • 1068, Reception No. 02008616 of the Weld County Records, by the following 25 courses: 1 - $ 10' 09' 07' W. 45.49 feet; • 2 • S 27' 01' 47' V, 281.98 feet; - $ 35' 02' 43' V, 129.95 feet; ' 4 • S 46' 24' 26' Y, 113.95 feet; S • S 67" 56' 02' W, 114.41 feet; 6 - 158.51 feet along the are of a curve to the left, having a central ' angle of 43' 14' 52' and a radius of 210.00 feet, and a long chord that bean S 44' 18' 36' W, 154.78 feet; 7 - S 24' 41' 10' K, 39.72 feet; 8 . 258.45 fest along the arc of a curve to the left, having a central A's) angle of 68' 10' 08' and a radius of 217.23 feet, and a long chord J • that bears $ 09' 23' 54' E. 243.48 feet; • • 9 • S 43' 21' 58' E, 159.97 feet; • f 10 • 69.50 feet along the arc of a curve to the light, having a central angle of 48' 38 11', and a radius of $1.88 feet, and a long chord that bears S 19' 09' 63° E. 67.43 feet; . . 11 . SOS• 09' 12' g.' 19.20 feet;' • "--'. . -- .. .. . - . • -• am- - -- • 12 • 117.95 feet along the arc of a curve to the right, having a central angle of 25' 54' 10', and a radius of 206.90 feet, and a long chord . that bears S 18' 06' 17' Y, 116.95 feet; ' 13 - S 31' 03' 22" Y. 130.58 feet; 14 - S 09' 40' 40' W. 15.26 feet; 15 • S 03' 11' 43' E. 116.07 feet; 16 • 114.85 felt along the arc of a curve to the left, having a central angle of 36' 30' 36'. and a radius of 180.24 feet. and a long chord • that bears S 21' 27' 01' E. 112.92 feet; . Pagel 2 of 12 eel 0CT 21 '94 10:03 3035340514 PRGE.005 B 1447 REC 02393929 06/17/94 16:25 $70.00 5/014 F 0579 MARY ANN FEOERSTEIN CLERK & RECORDER WELD CO, CO 17 - S 39' 42' 18' E, 116.57 feet; 18 - 90.93 feet along the arc of a curve to the left, having a central angle of 45' 22' 31', and a radius of 114.82 feet, and a long chord that bears S 62' 23' 34' E, 88.57 feet; 19 - S 85' 04' 50' 1. 170.71 feet; 20 • 151.01 feet along the arc of a curve to the right, having a central angle of 68' 29' 30' and a radius of 126.33 feet, and a long chord that bears S 50' 50' 04' E, 142.18 feet; 21 - 5 16' 35' 11' E. 120.95 feet; . 22 - 196.65 feet along the arc of a curve to the right, having a central angle of 25' 35' 07' and a radius of 440.41 feet, and a long chord that bears S 03' 47' 46' E, 195.04 feet; 23 - S v8' 59' 48' V, 101.24 feet; 24 - 251.82 feet along the arc of a curve to the left, having a central angle of 59' 32' 10', a radius of 242.34 feet, and a long chord that bears S 20' 46' 16' E, 240.64 feet; • 25 • S 50'.•32' 21' E. 97.59 feet; • • Thence M 89' 31' 39' E. 2111.76 feet; Thence N 11' 52' 53' W, 380.92 feet; Thence M 119' 31' 39' E, 337.17 feet; Thence M 00' 28' 21' M, 150.00 feet; _ _• _• • . .. �. _ Thence N 89' 31' 39' E, 1867.95 feet; Thence S 00' 14! 30' V, 680.17 feet; Thence S 88' 49' 23' 1, 78.63 feet; Thence S 12' 49' 39. 1, 29.72 feet; Thence 5 77' 10' 18' w, 30.00 feet; Thence S 12' 49' 43' 1, 30.00 feet; Thence M 77' 10' 18' E, 30.00 feet; Page 3 of 12 • 0CT 21 '94 10:03 3035340514 PAGE.006 ) B 1447 REC 02393929 06/17/94 16:25 $70.00 . 6/014 F 0580 MARY ANN FSUERSTEIN CLERK & RECORDER WELD CO, CO • Thence S 12' 49' 56' E. 14.14 feet; Thence S 19' 28' 28' E. 608.59 feet; Thence S 43' 52' 15' E. 959.19 feet; Thence S 11' 49' 10' E, 159.59 feet; • Thence S 60' 06' 36' E, 1097.85 feet; Thence S 22' 11' 13' E, 2189.07 feet; Thence S 17' 55' 41' W, 814.01 feet to a point on the north line of a tract of land described as Parcel 'A' in look 1068 under Reception No. 02008614 of the Weld County Records; Thence alone said north line by the following S . courses: 1 - S 38' 04' 26' V. 66.71 feet; • 2 - S 70' 24' 28' W. 210.50 feet; 3 - M 65' 42' 40' M, 1366.02 feet; • 4 - N 44' 48' S0' W, 1115.90 feet; 5 - S 71' 20' 00' V, 138.08 feet;' Thence S 71' 20' 00' V. a40.88 feet; Thence S 43' 34' 00' E, 318.00 feet; Thence S 16' 14'.00° E, 175.00 feet; . ' Thence S 00' 40' CO' E, 380.00 feet; • Thence S 27' 02' 02' M, 73.00 feet; Thence N 65' 16' 00' M, 155.00 feet; • Thence N 56' 09' 00' W, 462.00 feet; • Thence N 68' 59' 00' V, 256.00 feet; • Thence S 31' 13' 00' V. 248.00 feet; Thence S 80' 26' 00' M, 196.00 feet; ' Pao* 4 of 12 OCT 21 '94 10:04 3035340514 Pat.007 • B 1447 AEC 02393929 06/17/94 16:25 $70.00 7/014 F 0581 MARY ANN FEUERSTSIN CLERK & RECORDER WELD CO, Co Thence N 65. 07' 00' W. 214.52 feet to a Point on the east boundary of a tract of land described in Exhibit 'A', look 1068, Reception No. 02006614 of the Weld County Records; Thence along said east boundary by the following 13 courses: 1 - N 29' 11' 51' M, 43.34 feet; 2 - M 35' 35' 04' W, 245.27 feet; 3 - N 69' 49' 46" W, 52.20 feet; • 4 - N 34' 41' 43' W, 94.87 feet; 5 - N 40' 48' 08" E, 154.56 feet; , 6 - N 72' 48' 51" E, 101.53 feet; 7 - N 31' 54' 29' E. 62.43 feet; 8 - N 17' 31' 32" E, $9.77 feet; 9 - N 20' 04' 17" W, 110.72 feet; in - N 07' 06' 02" W, 291.23 feet; ' 11 - N 11' 50' 01' W, 107.21 feet; • A2 - N 33' 54' O.- W, 150.60 feet; • 13 - N 07' 02' 17' W, 163.23 feet to a point on the east boundary of a tract of land described in Exhibit '1'. took 1068, Reception No. 02008614 of the Weld County Records; Thence along said mast boundary, and alone the northerly and a portion of the westerly boundary of said tract of land by • the•followine $6 courses: • • . '-- — • _... . _. • . _ 1 - N 36' 47' 35' E. 143.90 feet; 2 - M 57. 06' 34' W. 102.50 feet; 3 - N 65' 59' 14" ifs 50.60 feet; • • 4 - N 69' 22' 13" M, 50.23 feet; • 5 - N 71' 52' 38' W, 50.07 feet; • 6 - N 74. 80' 37' W. 50.00 feet; 7 - N 77' 01' 49' W, 50.04 feet; Page S of 13 0CT 21 '94 10:05 3035340514 PAGE.008 929 94 5 0582 MARYOMN3FEVERSTRIN/CLERK 682RRCORDER.WELD CO.01.0 $ - N 79' 52' 59' W, 50.19 feet; 9 - N 78' 58' 20' V, 50.13 feet; - • 10 - N 77' 22' 24, W,•50.05 feet; 11 - N 7S' 18' 44" W, 50.00 feet; 12 - M 73' 56' 34' W. 50.01 feet; 13 - N 75' 59' Sa' W, 50.01 feet; 14 - N 78' 03' 33' W, 50.08 feet; 15 - N 77' 49' 51' W, 50.07 feet; 16 - N 78' 30' 57' W, 50.10 feet; • 17 - M 88' S0' 24" W, 75.38 feet; 18 - N 27' 27' 03' W. 141.50 filet to a point on the south line of said . Section 3; • 19 - M 27' 27' 03'W, 6`.51 feet; ••20 - N 38' 44' 16' W, 50.00 feet to 4 point on the east line of said Section 4; 21 - N 38' 44' 16" W, 20.57 feet; .' 22 - M 37' 14' $6' W. 50.03 feat; 23 - N 36' 51' 09' M. 50.00 feett . ..... . .. . . . 24 - N 39' 46' 09' W. 50.00 feet; 25 - N 38' 18'17" W. 39.87 feet; 26 - N 11' 21' 47" V. 28.76 feet; 27 - M 10' 11' 15' W, 100.03 feet; • 28 - M 11. 06' 14" W. 50.00 feet; • 29 - N 10' 11' 15' W. 50.01 feat; 30 - N 09' 43' 45' W. 50.02 feet; • Page 6 o1 12 0CT 21 '94 10:05 3035340514 PAGE.009 E 1447 REC 02393929 06/17/94 16:25 $70.00 9/014 F 0583 MARY ANN FEUERSTEIN CLERK & RECORDER WELD CO, CO 31 - N 09' 16' 16" W. 50.04 feet; 32.- M 11' 47' 29" W, 50.00 feet; . • 33 - M 15' 27' 08" W, 50.12 feet; 34 - N 17' 02' 45• W, 100.46 feet; 35 - N 88' 04' 22',W, 8.11 feet: 36 - N 55' 06' 47' W, 68.8E feet; • 37 - N 28' 02' 02' W, 24.62 feet; • • 38 - N O1' 59' 49' E, 64.66 feet; 39 - N 2" 17' 59" W, 51.56 feet; 40 - N 34' 33' 13' It, 50.12 feet; 41 - N 38' 26' 37' W, 50.00 feet; 42 - K 42' 33' 43' W, 50.13 feet; ell 43 - N 61' 52' 04' W, 76.22 feet; .44.- N 89' 17' 02' E, 139.17 feet; • 4S - N 03' 45' 51' W, 390.32 feet; 46 - N 7n' 52' 01' W, 116.11 feet; 47 - N 72' 17' 16" W, 122.30 feet; • • • 4;l - N 55' 39' 25' W, 181.68 feet•,' - 49 - N 31' 18' 351 W. 1063.87 feet; 50 - S $8' 31' 62' W, 57.39 feet; 51 • 3 31' 28' 08' E, 492.16 feet; • 52 - $ 30' 42' 10' E. 31.11 felt; 53 • S 10' 25' 09' E. 63.38 feet; 54 - 68.62 feet along the eft of a curve to the left having a central anale of•23' 19' 57', a radius of 168.50 feet. and a long chord that bears south 226.05° 08' E. 68.14 feet; Page 701U 01 1U 0CT 21 '94 10:06 3035340514 PRGE.010 • • B 1447 REC 02393929 06/17/94 16:25 $70.00 10/014 P 0584 MARY ANN PRDSRSTEIN CLERIC & RECORDER WELD CO. C0 55 - S 33' 4S' 06' E, 92.28 feet; 56 - S 38' 27' 03' E, 30.14 feet; • Thence S 51' 32' 58' M, 98.00 feet to a point on the west boundary of a tract of land described in Exhibit 'A', loot 1068, Reception No. 02008614 of the Weld County Records; Thence along said west boundary by the following 38 courses: • 1 - S 00' 23' 32' E, 177.92 feet; ' 2 - S 10' 18' 17' E. 78.26 feet; • 3 - S 30' 46' 13' E. 152.46 feet; - • 4 . S 47' 56' 08' E, 110.45 feet; 5 - S 64' 54' 59" E, 51.89 feet; 6 - S 33' 41' 24' E, 43.27 feet; 7 - S 65' 27' 44' E, 50.57 feet; $ - S 1e' Si' 39' E, 58.52 feet; • 9 - M 72' 38' 46' V, 16.76 feet; 10 - M 30' 27' SA' v, 39:45 feet; 11 - S 66' 48' OS' V, $3.31 feet; 12 • $ 37' 5A' 1R' V. 52.01 feet; 13 - S 01' 53' 36' M, 121.07 feet; • 14 - S 19' 17' 24' Y, 63.57 feet; 15 - $ 06' 08' 46' V, 65.38 feet; ' 16 - S 33' 32' 10' E, 103.17 feet; 17 - S 56' OS' 51' E, 52.43 feet; 18 - $ 76' 52' 47' E, 136.57 feeti • 19 - S 67' 47' 47' E, 62.92 feet; PAWS S of 12 0CT 21 '94 10:06 3035340514 PH3E.011 • _. r r-.�_. ' - -- ) - B 1447 REC 02393929 06/17/94 16:25 $70.00 11/014 P 0585 MAY ANN FEUERSTEIN CLERK & RECORDER WELD CO, CO 20 - S 31' 54' 29' E, 62.43 feet; • 21 - 5 12' 12' 02' E, 75.71 feet; . 22 - S 15' 36' 40' 1, 70.60 feet; 23 - S 00' 46' 46' E, 147.01 feet; • 24 - S 40' 38' 56' E, 130.48 feet; • 25 - $ 04' 53' 57' E, 70.26 feet; • 26 - 5 24' 20' 28' W, 46.10 feet; . • , 27 - S 13' 34' 14' E, 59.67 fast; 26 - S 35' 26' 24' E. 118.59 feet to a point on the south line of said Section 4; 29 - $ 35' 24' 24' E, 17.65 feet; • 30 - 5 49' 59' 37• E, 73.11 feet; 31 - S 83' 07' 06'•E, 58.42 feet; • - 32 - 5 65. 05' 43' E. 92.61 feet; 33 - S 58' 24' 46' E. 69.35 feet; 34 - S 36' 36' 25' E, 43.60 feet; . ... 35 - S 24%34'.02',E. 33.48 feet; ./. 36 - 5 40' 21' 52• E, 105.00 feet; • 37 - S 63' 26' 06' E, 36.45 feet to a point on the east line of said Section 9; • . 36 - S 63' 26' 06' E. 37.34 feet; • 39 - S 10' 42' 47' E. 112.97 feet; 40 - S 35' 26' 45' E, 144.64 feet; Pegs 0 of 12 0CT 21 '94 10:07 3035340514 PRGE.012 • B 1447 RN 02393929 06/17/94 16:25 370.00 12/014 F 0586 MARY ANN FBUERETEIN CLERK a RECORDER WELD CO, Co 61 - S 52' 45' 55' E, 145.60 feet; 42 • S 07' 46' 30' to 100.46 feet; 43 • S 53' 14' 47' E. 98.00 feet; 44 - S 36' 35' 28' E. 82.20 feet; ' 45 - S 28' 18' 03' E, 59.06 feet; 46 - S 52' 31' 26' M, 37.80 feet; 41 - S 30' 03' 16' W, 183.70 feet; 45 • S 04' 58' 11' E, 46.17 feet; 49 - S 25' 58' 28' Y, 86.76 feet; 50 - S 06' 03' :;' to 66.37 feet; 51 - S 25. 51' 59" E. 110.02 feet; • • 52 - S 07' 28' 51' M. 99.85 feet; 53 - S 31' 16' 29' E. 157.95 feet; • 54 - S 18' 26' 06" E. 139.14 feet; 55 • S 40' 20' 45' Co 122.02 feet; 56 - S 24' 26' 38' E, 48.33 feet; 044.21'.256-E, 105.30 feet;' 55 - S 29' 30' 41' to 174.35 feet to a point on the east boundary of a tract of land described in loot 1068, Reception No. 02008615 of the Reid County Records; Thence along said east boundary by the following 6 courses:. . 1 - S 37' 11' 26' C, 96.99 feet; 2 - S 52' 03' ii' E. 69.08 feet; 3 - S SE 31' 12' E. 148.65 feet; 4 - S 1F' 11' 37• E, 13n.93 feet; Page 10 of 12 • 0CT 21 '94 10:09 3035340514 PAGE.013 -a, -- • .. B 1447 REC 02393929 06/17/94 16;25 $70.00 13/014 rip F 0587 NARY ANN FEUERSTEIN CLERK & RECORDER WELD CO, CO 5 - $ 42' S2' 31' E. 177.69 feet; 6 - S 25' 09' 42' E. 48.21 feet; . Thence S 25' 09' 43' E. 106.90 feet; Thence $ 24' 47' 31' Co 180.70 feet; Thence S 36' 43' 59'.E, 146.03 feet; Thence S 25' 08' 23' V. 111.15 feet; ' Thence S 02' 01' 55' E. 227.19 feet; • Thence S 27' 01' 04' E. 93.92 feet; Thence $ 13' 34' 48' E, 101.31 feet; Thence S 24' 32' 47' E. 116.37 feet;. Thence S 06' 37' 27' E. 234.27 feet; Thence 5 .071. 03! 43" .V. 151,41 feet; Thence $ 14. 47' 42' V, 113.31 feet; Thence S 05' 07' 42' V, 157.19 feet; Thence S 17' 5o' 26' V. 90.47 fest; Thence S 42' 18' 14' V, 134.52 feet; . Thence S 19' 19' 41' V. 268.66 feet; • _'. ` • Thence S 30' 21' 06' V, 184.39 Teet; . - Thence S 51' 40' 58' V, 105.15 feet; Thence S 79' 43' 10' V, 714.61 feet; Thence S 24' 62' 12' V. 224.67 feet; Thence S 07' 13' 57' E. 10.72 feet to a point on the North Line of said Section 18; _ • Thence along said North line of Section 15 N 89' 28' 21' C. 64.09 feet; : Thence S 00' 41' S3' E, 5264.17 feet to a point on the South Line of said Section 15; Page, 11 of 12 nrT 71 'qd 10:RR 7R7S74RS14 PRGE.014 I ( , •B 7 929 488 OS/17/94 WELD CO, CO4 P 0 P 0588 thence along said South line of said Section 1S S89.48.56•W, 356.01 feet to the TRUE POINT OF ',WINNING; includingthat portion thereof platted as BESSE DRAW FARMS AND EQUESTRIAN CENTER, !IRS' FILING under Revised Plat and Dedication recorded April 12, 1181 in look 1192 as Reception No. 2137453, together with the rights of Grantor as Purchaset under Certificate of Purchase No. 8-571 with The State of Colorado dated May 21, 1984 and recorded July 26, 1984 • in Book 1038 as Reception No. 01975458, as to Section 16, Township 3 North, Range 65 West of the Sixth Principal Meridian, Weld County, Colorado. • • • *as evidenced by assignment recorded August 16, 1988 in Book 1205 as Reception No. 02151603 in the records of Weld County, Colorado • • •• • • • • Page 12 of 12 • 0CT 21 '94 10:09 3035340514 PRGE.015 January 1994 PETITION FOR INCLUSION OF LANDS IN NORTHERN COLORADO WATER CONSERVANCY DISTRICT TO THE BOARD OF DIRECTORS OF NORTHERN COLORADO WATER CONSERVANCY DISTRICT 1. All the owner(s) of lands situated in the County of Weld , State of Colorado, hereby petition(s) and pray(s) that the lands hereinafter described be included in said Northern Colorado Water Conservancy District ("District"). 2. The description of the lands owned by the Petitioner(s) is as follows: PETITIONER DESCRIPTION SEC.TWP.RGE. ACRES 1 REI Limited Liability See Exhibit A Sections 3, 4, 5, 3,442 Company, dba Investors to Sheriff's 8, 9, 10, 15 and Limited Liability I1'd attached 17, Township 3 Company hereto as Exhibit North, Range 65 I, except for West that land described therein under Certificate of Purchase No. S-571 in Section 16, Tbwnship 3 North, Range 65 West (owned by the State of Colorado) TOTAL ACRES INCLUDED 3,442 CURRENT ASSESSED VALUATION OF LANDS TO BE INCLUDED $ 18,340 AMOUNT OF INCLUSION FEE ENCLOSED $ 235 IR'PSRM4D&AIL TMENFS FORMS*400 3. A plat of the above described property is attached hereto as Appendix "C." 4. All the owner(s) of the above described property hereby agree(s) to pay to the District an amount which is equal to the ad valorem taxes which would have been paid to the District by the owners of the above described lands if said lands had been included within the boundaries of the District at the time of its creation. This amount will be calculated in accordance with the policy of the District, a copy of which is attached as Appendix "B." 5. All the owner(s) of the above described property and their heirs, successors, and assigns hereby agree to be bound by the Water Conservancy Act, C.RS. § 37-45-101 et. seq., as amended from time to time, and all rules, regulations, and policies of the District as amended or changed from time to time. 6. All of the owner(s) of the above described property hereby agree(s) that inclusion of the above described lands into the District is conditioned on present and future payment of the same mill levies and special assessments as are levied or will be levied on other similarly situated property in the District at the time of inclusion of the Petitioner(s) lands. If such payments are not made on such equal basis, the inclusion of the lands can be .p terminated for non-compliance with this condition if payments are not otherwise made. 7. All the owner(s) of the above described property have executed Appendix"A" attached hereto. THIS PETITION INCLUDING APPENDIX"A" MUST BE SIGNED BY ALL OF THE OWNERS OF THE ABOVE DESCRIBED PROPERTY TITLE (if in relation to a Partnership or a 5 GNA Corporation) ADDRESS - Manager Investors Limited Liability Company 4221 Pbnaco Street Denver, Colorado 80216 STATE OF COLORADO � County ofTP4( c:sCin ) The foregoing instrument was acknowledged before me this ;o day of November A.D. 19 4, by On(1 u C.' !ULU Ql .q , Manager of REI Limited Liability Company, a Wyoming limited liability company, doing lousiness in Wlorarin as Investors Limited Liability Company, Witness my hand and Seal. My commission expires:ex i,3 h o I Q C- eal t 1 ..1\A,t."1- 11.�1rje-/M 41 Notary Public IWVSILWD a AL WIME+fIs FORMS$400 2 ' ` I STATE OF COLORADO ) n ) ss J County of ) The foregoing instrument was acknowledged before me this day of A.D. 19_, by Witness my hand and Seal. My commission expires: Notary Public STATE OF COLORADO ) ) ss County of ) The foregoing instrument was acknowledged before me this day of A.B. 19_. by Witness my hand and Seal. My commission expires: Notary Public STATE OF COLORADO ) ) ss County of ) The foregoing instrument was acknowledged before me this day of A.D. 19_, by Witness my hand and Seal. My commission expires: Notary Public M'vslwm&AUO HEMS FORMS..o0 3 • APPENDIX"A" Purpose The purpose of this covenant is-to subject Petitioner's property, described in the petition for inclusion and court order for inclusion, to the same mill levies and special assessments as are levied or will be levied on other similarly situated property in the Northern Colorado Water Conservancy District ("District") at the time of inclusion of Petitioner's lands. Waiver Petitioner hereby waives any right which may exist to require an election pursuant to article X, § 20 of the Colorado Constitution before the District can impose the mill levies and special assessments specified below. Petitioner also waives any right which may exist to a refund pursuant to article X, § 20 of the Colorado Constitution. Mill Levies and Special Assessments Upon inclusion into the District, and as an express condition thereof, Petitioner covenants to pay the following mill levies and special assessments: 1. Any Class A mill levy or special assessment levied annually by the District and imposed on other similarly situated property within the District. 2. If Petitioner's property is now or is in the future located within a municipality which has an existing or future Class B Allotment of water by the District, and if said municipality defaults on payment of its obligations under any existing or future Class B allotment contract(s) with the District, Petitioner agrees to pay any special assessment levied by the Board of Directors of the District for the purpose of collecting amounts due under the allotment contract(s). 3. Any amount due under any existing or future Class D allotment contract on Petitioner's property. Covenant to Run with the Land This covenant will run with and burden the property described in the petition for inclusion and court order for inclusion and binds all future owners of the property. ALL OWNERS OF THE ABOVE DESCRIBED PROPERTY MUST SIGN THIS APPENDIX"A."DATE ADDRESS �I/5/cV , /% l%t�f Investors Limited Liability ConParlY ���[[[ 4221 Ivbnaco Street Denver, Colorado 80216 IWPSI V,RO a ALLOTMENTS FORMS#400 • APPENDIX"B" NORTHERN COLORADO WATER CONSERVANCY DISTRICT RESOLUTION D-941-02-94 NORTHERN COLORADO WATER CONSERVANCY DISTRICT COLORADO-BIG THOMPSON FACILITIES INCLUSION FEE WHEREAS, the inclusion of lands into the Northern Colorado Water Conservancy District (District) makes those lands eligible to receive water from the Colorado-Big Thompson (C-BT) Project facilities; and WHEREAS, those lands and allottees of water originally included within the District commencing in 1938 have contributed to the cost of construction repayment, operation, maintenance, replacement and administration of the C-BT Project; and WHEREAS, a fee is necessary to place newly included lands and their eligibility for water from the C-BT Project facilities on the same basis as those lands originally included within the District. NOW, THEREFORE LET IT BE RESOLVED that: A fee shall be charged in connection with the inclusion of lands into the District for the purpose of placing such lands on an equal basis as lands originally included within the District. Such fee shall be collected on behalf of and deposited to the Colorado-Big Thompson Water Activity Enterprise Fund. This fee shall be calculated as follows: The sum of the historical (1937 to current year) ad valorem tax revenues received by the District from Latimer,Weld, and Boulder Counties divided by the current assessed valuation of the District lying within those same Counties times the current assessed valuation of the property to be included. Example: Revenues From 3 Counties To Date x Current Valuation of Current Valuations of District Property To Be Included Within 3 Counties For Calendar Year 1993 $ 48,388,184 x Current Valuation of Property $ 3.788,258,060 or 0.0128 x Current Valuation of Property The ratio determined above will be recomputed annually by the District and will be made available upon request. It will be the responsibility of the petitioner to furnish the current assessed valuation of the property involved at the time the petition for inclusion is submitted to the District. Satisfactory arrangements for payment of fees must be made with the District before the inclusion will be approved by the Board of Directors. RFRSIUND a ALLOTMENTS FORMS 6400 8. PUD Construction Schedule BEEBE DRAW FARMS and EQUESTRIAN CENTER FILING No. 2 Name of Subdivision: Beebe Draw Farms and Equestrian Center Filing 2, Phase 1 - Part 1 Location: Section 4, Township 3 North, Range 65 West Construction of Improvements listed shall be completed as follows: Improvements Time for Completion Site Grading May 1, 2003 Street Base August 1, 2003 Street Paving September 1, 2003 Curbs, Gutters and Culverts July 1, 2003 Sidewalks Storm sewer facilities Retention Ponds August 1, 2003 Ditch Improvements Subsurface Improvements Sanitary Sewer Trunk and forced lines Mains Laterals (house connected) On-site sewage facilities On-site water supply and storage Water mains June 1, 2003 Fire Hydrants July 1, 2003 Survey& street monuments &boxes December 1, 2003 Street lighting January 1, 2004 Street name signs December 1, 2003 Fencing requirements Landscaping March 1, 2004 Park improvements (Open Space) March 1, 2004 Telephone December 1, 2003 Gas December 1, 2003 Electric December 1,2003 Water Transfer March 1,2003 Mail Box/School Shelter March 1, 2004 Name of Subdivision: Beebe Draw Farms and Equestrian Center Filing 2, Phase 1 -Part 2 Location: Section 4, Township 3 North, Range 65 West Construction of Improvements listed shall be completed as follows: Improvements Time for Completion Site Grading May 1, 2004 Street Base August 1, 2004 Street Paving September 1,2004 Curbs, Gutters and Culverts July 1, 2004 Sidewalks Storm sewer facilities Retention Ponds August 1, 2004 Ditch Improvements Subsurface Improvements Sanitary Sewer Trunk and forced lines Mains Laterals (house connected) On-site sewage facilities On-site water supply and storage Water mains June 1, 2004 Fire Hydrants July 1,2004 Survey& street monuments&boxes December 1,2004 Street lighting January 1, 2005 Street name signs December 1, 2004 Fencing requirements Landscaping March 1. 2005 Park improvements(Open Space) March 1,2005 Telephone December 1, 2004 Gas December 1,2004 Electric December 1, 2004 Water Transfer March 1, 2004 Mail Box/School Shelter n Name of Subdivision: Beebe Draw Farms and Equestrian Center Filing 2, Phase 2 -Part 1 Location: Section 9& 10,Township 3 North, Range 65 West Construction of Improvements listed shall be completed as follows: Improvements Time for Completion Site Grading May 1, 2005 Street Base August 1, 2005 Street Paving September 1, 2005 Curbs, Gutters and Culverts July 1, 2005 Sidewalks Storm sewer facilities Retention Ponds August 1, 2005 Ditch Improvements Subsurface Improvements Sanitary Sewer Trunk and forced lines Mains Laterals (house connected) On-site sewage facilities On-site water supply and storage Water mains June 1, 2005 Fire Hydrants July 1, 2005 Survey & street monuments& boxes December 1, 2005 Street lighting January 1, 2005 Street name signs December 1, 2005 Fencing requirements Landscaping March 1, 2006 Park improvements(Open Space) March 1, 2006 Telephone December 1,2005 Gas December 1, 2005 Electric December 1, 2005 Water Transfer March 1, 2005 Mail Box/ School Shelter March 1, 2006 Name of Subdivision: Beebe Draw Farms and Equestrian Center Filing 2,Phase 2 -Part 2 Location: Section 9, 10, & 17 Township 3 North, Range 65 West Construction of Improvements listed shall be completed as follows: Improvements Time for Completion Site Grading May 1,2006 Street Base August 1, 2006 Street Paving September 1, 2006 Curbs, Gutters and Culverts July 1, 2006 Sidewalks Storm sewer facilities Retention Ponds August 1, 2006 Ditch Improvements Subsurface Improvements Sanitary Sewer Trunk and forced lines Mains Laterals(house connected) On-site sewage facilities On-site water supply and storage Water mains June 1, 2006 Fire Hydrants July 1, 2006 Survey&street monuments&boxes December 1, 2006 Street lighting January 1, 2006 Street name signs December 1,2006 Fencing requirements Landscaping March 1, 2007 Park improvements(Open Space) March 1, 2007 Telephone December 1, 2006 Gas December 1, 2006 Electric December 1,2006 Water Transfer March 1, 2006 Mail Box/School Shelter Name of Subdivision: Beebe Draw Fanns and Equestrian Center Filing 2,Phase 3 - Part 1 Location: Section 17, Township 3 North, Range 65 West Construction of Improvements listed shall be completed as follows: Improvements Time for Completion Site Grading May 1, 2007 Street Base August 1, 2007 Street Paving September 1, 2007 Curbs, Gutters and Culverts July 1, 2007 Sidewalks Storm sewer facilities Retention Ponds August 1, 2007 Ditch Improvements Subsurface Improvements Sanitary Sewer Trunk and forced lines Mains Laterals (house connected) On-site sewage facilities On-site water supply and storage Water mains June 1,2007 Fire Hydrants July 1, 2007 Survey& street monuments & boxes December 1, 2007 Street lighting January 1, 2007 Street name signs December 1, 2007 Fencing requirements Landscaping March 1, 2008 Park improvements (Open Spacel March 1, 2008 Telephone December 1, 2007 Gas December 1, 2007 Electric December 1, 2007 Water Transfer March 1, 2007 Mail Box/ School Shelter March 1, 2008 Name of Subdivision: Beebe Draw Farms and Equestrian Center Filing 2, Phase 3 -Part 2 Location: Section 17, Township 3 North, Range 65 West Construction of Improvements listed shall be completed as follows: Improvements Time for Completion Site Grading May 1, 2008 Street Base August 1,2008 Street Paving September 1, 2008 Curbs, Gutters and Culverts July 1, 2008 Sidewalks Storm sewer facilities Retention Ponds August 1,2008 Ditch Improvements Subsurface Improvements Sanitary Sewer Trunk and forced lines Mains Laterals (house connected) On-site sewage facilities On-site water supply and storage Water mains June 1, 2008 Fire Hydrants July 1,2008 Survey& street monuments &boxes December 1,2008 Street lighting January 1, 2008 Street name signs December 1, 2008 Fencing requirements Landscaping March 1, 2009 Park improvements (Open Space) March 1, 2009 Telephone December 1, 2008 Gas December 1,2008 Electric December 1, 2008 Water Transfer March 1, 2008 Mail Box/ School Shelter r-41, Name of Subdivision: Beebe Draw Farms and Equestrian Center Filing 2, Phase 4 -Part 1 Location: Section 4 & 5, Township 3 North, Range 65 West Construction of Improvements listed shall be completed as follows: Improvements Time for Completion Site Grading May 1, 2009 Street Base August 1, 2009 Street Paving September 1, 2009 Curbs, Gutters and Culverts July 1, 2009 Sidewalks Storm sewer facilities Retention Ponds August 1, 2009 Ditch Improvements Subsurface Improvements Sanitary Sewer Trunk and forced lines Mains Laterals (house connected) On-site sewage facilities On-site water supply and storage Water mains June 1, 2009 Fire Hydrants July 1, 2009 Survey & street monuments &boxes December 1, 2009 Street lighting January 1,2009 Street name signs December 1, 2009 Fencing requirements Landscaping March 1, 2010 Park improvements (Open Space) March 1, 2010 Telephone December 1, 2009 Gas December 1, 2009 Electric December 1, 2009 Water Transfer March 1, 2009 Mail Box/School Shelter March 1, 2010 Name of Subdivision: Beebe Draw Farms and Equestrian Center Filing 2,Phase 4 -Part 2 Location: Section 4& 5, Township 3 North, Range 65 West Construction of Improvements listed shall be completed as follows: Improvements Time for Completion Site Grading May 1, 2010 Street Base August 1, 2010 Street Paving September 1, 2010 Curbs, Gutters and Culverts July 1, 2010 Sidewalks Storm sewer facilities Retention Ponds August 1, 2010 Ditch Improvements Subsurface Improvements Sanitary Sewer Trunk and forced lines Mains Laterals (house connected) On-site sewage facilities On-site water supply and storage Water mains June 1, 2010 Fire Hydrants July 1,2010 Survey& street monuments & boxes December 1, 2010 Street lighting January 1, 2010 Street name signs December 1, 2010 Fencing requirements Landscaping March 1, 2011 Park improvements (Open Space) March 1, 2011 Telephone December 1, 2010 Gas December 1, 2010 Electric December 1, 2010 Water Transfer March 1, 2010 Mail Box / School Shelter L_re/nr mane walla amniaaa 15 am a mm a. a mm mm as a ma mm a -- ^ ^ tea. ^ ^ ^ ^ ha Lei \�_ � nl ll Jl� ^ _ �. _ ( ... ... __ ......c\e„.. -- 2 Jl�i\ / S II : 78 ®� ^ ^. : ) 1 I... _. _ - -. CONCEPTUAL PHASING USING WATER/POWER AS GUIDE 30 ^ FLING 2- NOM. T MBE 2 PHASE 4 44, EYING 2- SOU% .- •• •• RUE 2 �:.:' ^ RUE 2 I ^ ^ LOTS PER PHASE: 92 •• 0 - 6tiSIYPLOtl , .. ^ 1. 11E ENATCGI Of HUNG 1 G ELT OJT AS MEOWED TO016 HAKE COCIG T1 MAO 2 ^ -- .. -. ^ -'. .. HNEII LMEN/IVER ISM •• .. ACgIGOIL Wm WIN TO BE NGIRICEO TO CREATE THE REQUIRED LOOMS AS July 31, 2002 PELICAN LAKE RANCH -FILING 2-PHASE I OPINION OF PROBABLE COST PHASE I -WATER 1 Water Mains 23,900 L.F. $ 20.00 $ 478,000.00 2 Fire Hydrant Assembly 19 EA. $ 2,700.00 $ 51,300.00 3 Blow-off Assembly 7 EA. $ 2,500.00 $ 17,500.00 4 Gate Valves 36 EA. $ 1,000.00 $ 36,000.00 5 Services 76 EA. $ 450.00 $ 34,200.00 6 Fittings 20 EA. $ 600.00 $ 12,000.00 SUBTOTAL-WATER $ 629,000.00 PHASE I -STREETS 1 Grading 150,000 C.Y. $ 2.40 $ 360,000.00 2 Base Course 20,000 TON $ 13.00 $ 260,000.00 3 Asphalt 2Q,000 TON $ 36.00 $ 720,000.00 4 Drainage Detention/Swales 50,000 C.Y. $ 2.40 $ 120,000.00 5 Culverts 2,000 L.F. $ 60.00 $ 120,000.00 6 Signage 40 EA. $ 400.00 $ 16,000.00 SUBTOTAL-STREETS $ 1,596,000.00 PHASE I -LANDSCAPE 1 Trees and Plants 1 L.S. $35,000.00 $ 35,000.00 2 Irrigation system 1 L.S. $15,000.00 $ 15,000.00 3 Water Taps(Not including Water) 1 L.S. $10,000.00 $ 10,000.00 SUBTOTAL-LANDSCAPE $ 60,000.00 MAIL BOX/SCHOOL SHELTER 1 L.S. $35,000.00 $ 35,000.00 POWER $ 250,000.00 GAS $ 220,000.00 TELEPHONE $ 220,000.00 SUBTOTAL $3,010,000.00 20%CONTINGENCY $ 602,000.00 ESTIMATED TOTAL $3,612,000.00 July 31, 2002 PELICAN LAKE RANCH -FILING 2-PHASE II OPINION OF PROBABLE COST PHASE II-WATER 1 Water Mains 36,000 L.F. $ 20.00 $ 720,000.00 2 Fire Hydrant Assembly 18 EA. $ 2,700.00 $ 48,600.00 3 Blow-off Assembly 7 EA. $ 2,500.00 $ 17,500.00 4 Gate Valves 13 EA. $ 1,000.00 $ 13,000.00 5 Services 106 EA. $ 450.00 $ 47,700.00 6 Fittings 30 EA. $ 600.00 $ 18,000.00 SUBTOTAL-WATER $ 864,800.00 PHASE II -STREETS(ON-SITE) 1 Grading 100,000 C.Y. $ 2.40 $ 240,000.00 2 Base Course 17,000 TON $ 13.00 $ 221,000.00 3 Asphalt 19,000 TON $ 36.00 $ 684,000.00 4 Drainage Detention/Swales 40,000 C.Y. $ 2.40 $ 96,000.00 5 Culverts 1,000 L.F. $ 40.00 $ 60,000.00 6 Signage 30 EA. $ 400.00 $ 12.000.00 SUBTOTAL-STREETS(ON-SITE) $ 1,313,000.00 OFF-SITE STREET(W.C.R.38) $ 550,000.00 MAIL BOX I SCHOOL SHELTER $ 35,000.00 POWER $ 140,000.00 GAS $ 100,000.00 TELEPHONE $ 100,000.00 SUBTOTAL $3,102,800.00 20%CONTINGENCY $ 620,560.00 ESTIMATED TOTAL $3,723,360.00 July 31, 2002 PELICAN LAKE RANCH-FILING 2 -PHASE III OPINION OF PROBABLE COST PHASE III -WATER 1 Water Mains 28,100 L.F. $ 18.00 $ 505,800.00 2 Fire Hydrant Assembly 22 EA. $ 2,700.00 $ 59,400.00 3 Blow-off Assembly 5 EA. $ 2,500.00 $ 12,500.00 4 Gate Valves 15 EA. $ 1,000.00 $ 15,000.00 5 Services 108 EA. $ 450.00 $ 48,600.00 6 Fittings 30 EA. $ 600.00 $ 18.000.00 SUBTOTAL-WATER $ 659,300.00 PHASE III -STREETS 1 Grading 125,000 C.Y. $ 2.40 $ 300,000.00 2 Base Course 20,000 TON $ 13.00 $ 260,000.00 3 Asphalt 20,000 TON $ 36.00 $ 720,000.00 4 Drainage Detention/Swales 50,000 C.Y. $ 2.40 $ 120,000.00 5 Culverts 2,000 L.F. $ 60.00 $ 120,000.00 6 Signage 40 EA. $ 400.00 $ 16,000.00 SUBTOTAL-STREETS $ 1,536,000.00 PHASE III -LANDSCAPE 1 Trees and Plants 1 L.S. $ 10,000.00 $ 10,000.00 2 Irrigation System 1 L.S. $10,000.00 $ 10,000.00 rip 3 Water Tap(Not Including Water) 1 L.S. $ 5,000.00 $ 5,000.00 SUBTOTAL-LANDSCAPE $ 25,000.00 MAIL BOX/SCHOOL SHELTER 1 L.S. $35,000.00 $ 35,000.00 POWER $ 150,000.00 GAS $ 100,000.00 TELEPHONE $ 100.000.00 SUBTOTAL $2,605,300.00 20%CONTINGENCY $ 521,060.00 ESTIMATED TOTAL $3,126,360.00 July 31, 2002 PELICAN LAKE RANCH-FILING 2-PHASE IV OPINION OF PROBABLE COST PHASE IV-WATER 1 Water Mains 25,000 L.F. $ 18.00 $ 450,000.00 2 Fire Hydrant Assembly 26 EA. $ 2,700.00 $ 70,200.00 3 Blow-off Assembly 7 EA. $ 2,500.00 $ 17,500.00 4 Gate Valves 13 EA. $ 1,000.00 $ 13,000.00 5 Services 115 EA. $ 450.00 $ 51,750.00 6 Fittings 30 EA. $ 600.00 $ 18.000,00 SUBTOTAL-WATER $ 620,450.00 PHASEIV-STREETS 1 Grading 100,000 C.Y. $ 2.40 $ 240,000.00 2 Base Course 20,000 TON $ 13.00 $ 260,000.00 3 Asphalt 20,000 TON $ 36.00 $ 720,000.00 4 Drainage Detention I Swales 30,000 C.Y. $ 2.40 $ 72,000.00 5 Culverts 1,500 L.F. $ 45.00 $ 67,500.00 6 Signage 40 EA. $ 400.00 $ 16.000.00 SUBTOTAL-STREETS $1,375,500.00 PHASE IV- LANDSCAPE 1 Trees and Plants 1 L.S. $15,000.00 $ 15,000.00 ril2 Irrigation System 1 L.S. $15,000.00 $ 15,000.00 3 Water Taps(Not Including Water) 1 L.S. $10,000.00 $ 10,000.00 SUBTOTAL-LANDSCAPE $ 40,000.00 MAIL BOX/SCHOOL SHELTER 1 L.S. $35,000.00 $ 35,000.00 POWER $ 150,000.00 GAS $ 100,000.00 TELEPHONE $ 100.000.00 SUBTOTAL $2,420,950.00 20%CONTINGENCY $ 484,190.00 ESTIMATED TOTAL $2,905,140.00 Z ' oN JNI1IJ 2131N30 NVIRLS2flO3 pue SVIIèIVJ MVU0 38338 luauaalelg luauadolanaQ 6upueu j ;o po aW ,6 METHOD OF FINANCING FOR THE DEVELOPMENT The costs of financing Filing No. 2 will be spread over approximately eight years, as development will take place in phases. The Beebe Draw Farms Metropolitan Districts, ("Districts") were organized to provide services and facilities, including water, streets, drainage, safety protection, parks and recreation, television transmission and relay, transportation, and mosquito control. The District has begun implementing the financing plan for the public facilities by issuing its General Obligation Bonds in the principal amount of$2,000,000. To date, the entrance landscaping and Gatehouse, Beebe Draw Farms Parkway, water transmission and distribution mains, roads in developed phases of Filing No. 1, drainage and water improvements, Marina and dock system, and a Community Center Building have been built at a cost of over $5,000,000 in anticipation of 800 lots being approved and developed. The balance of costs were paid for by the Developer in accordance with a Developer Fee and Water Tap Fee Agreement ("Developer Fee Agreement") and from water connection fees and tax revenues, and other available revenue of the District. District No. 1 functions as a taxing district raising revenue to pay operation, capital, and debt service expenses of the Districts. The approved Service Plan demonstrates that the Districts will be capable of providing economical and sufficient services to the property. The County will have no responsibility for any debt of the Districts. Additionally, the County can be assured that there are legal and financial controls on District indebtedness, which operate to limit the taxes that property owners within the Development will be expected to pay. Currently the Districts are financially healthy and capable of providing the services it is required to do for the property included in the District. Future tax revenues and development fees will be adequate to build out the entire development in phases. The Consolidated Service Plan for the Districts have been provided with this application. METHOD OF FINANCING FOR THE DEVELOPMENT The costs of financing Filing No. 2 will be spread over approximately eight years, as development will take place in phases. The Beebe Draw Farms Metropolitan Districts, ("Districts") were organized to provide services and facilities, including water, streets, drainage, safety protection, parks and recreation, television transmission and relay, transportation, and mosquito control. The District has begun implementing the financing plan for the public facilities by issuing its General Obligation Bonds in the principal amount of$2,000,000. To date, the entrance landscaping and Gatehouse, Beebe Draw Farms Parkway, water transmission and distribution mains, roads in developed phases of Filing No. 1, drainage and water improvements, Marina and dock system, and a Community Center Building have been built at a cost of over$5,000,000 in anticipation of 800 lots being approved and developed. The balance of costs were paid for by the Developer in accordance with a Developer Fee and Water Tap Fee Agreement ("Developer Fee Agreement") and from water connection fees and tax revenues, and other available revenue of the District. District No. 1 functions as a taxing district raising revenue to pay operation, capital, and debt service expenses of the Districts. The approved Service Plan demonstrates that the Districts will be capable of providing economical and sufficient services to the property. The County will have no responsibility for any debt of the Districts. Additionally, the County can be assured that there are legal and financial controls on District indebtedness, which operate to limit the taxes that property owners within the Development will be expected to pay. Currently the Districts are financially healthy and capable of providing the services it is required to do for the property included in the District. Future tax revenues and development fees will be adequate to build out the entire development in phases. The Consolidated Service Plan for the Districts have been provided with this application. August 28, 2002 PELICAN LAKE RANCH -FILING 2 - PHASE I -PART 1 (38 LOTS) OPINION OF PROBABLE COST WATER 1 Water Mains 11,950 L.F. $ 14.00 $ 167,300.00 2 Fire Hydrant Assembly 10 EA. $ 2,700.00 $ 27,000.00 3 Gate Valves 18 EA. $ 1,000.00 $ 18,000.00 4 Fittings 10 EA. $ 450.00 $ 4,500.00 5 Thrust Block 20 EA. $ 175.00 $ 3.500.00 SUBTOTAL-WATER $ 220,300.00 STREETS 1 Grading 35,000 C.Y. $ 3.50 $ 122,500.00 2 Base Course 10,000 TON $ 13.00 $ 130,000.00 3 Asphalt 10,000 TON $ 36.00 $ 360,000.00 4 Signage 20 EA. $ 400.00 $ 8.000.00 SUBTOTAL-STREETS $ 620,500.00 DRAINAGE 1 Drainage Retention/Swales 25,000 C.Y. $ 2.40 $ 60,000.00 2 Culverts 600 L.F. $ 45.00 $ 27,000.00 3 Riprap 50 Ton $ 35.00 $ 1,750.00 SUBTOTAL-DRAINAGE $ 88,750.00 MISCELLANEOUS 1 Landscape 1 L.S. $30,000.00 $ 30,000.00 2 Power 1 L.S. $75,000.00 $ 75,000.00 3 Gas 1 L.S. $15,200.00 $ 15,200.00 4 Telephone 1 L.S. $ 7,600.00 $ 7,600.00 $ 127,800.00 SUBTOTAL $1,057,350.00 Engineering/Supervision (Including Testing and Record Dwgs.) $ 57,700.00 10%Contingency $ 105,735.00 ESTIMATED TOTAL $1,220,785.00 August 28, 2002 PELICAN LAKE RANCH -FILING 2-PHASE I -PART 2 (38 LOTS) OPINION OF PROBABLE COST WATER 1 Water Mains 11,950 L.F. $ 14.00 $ 167,300.00 2 Fire Hydrant Assembly 10 EA. $ 2,700.00 $ 27,000.00 3 Gate Valves 18 EA. $ 1,000.00 $ 18,000.00 4 Fittings 10 EA. $ 450.00 $ 4,500.00 5 Thrust Block 20 EA. $ 175.00 $ 3,500.00 SUBTOTAL-WATER $ 220,300.00 STREETS 1 Grading 35,000 C.Y. $ 3.50 $ 122,500.00 2 Base Course 10,000 TON $ 13.00 $ 130,000.00 3 Asphalt 10,000 TON $ 36.00 $ 360,000.00 4 Signage 20 EA. $ 400.00 $ 8.000.00 SUBTOTAL-STREETS $ 620,500.00 DRAINAGE 1 Drainage Retention/Swales 25,000 C.Y. $ 2.40 $ 60,000.00 2 Culverts 600 L.F. $ 45.00 $ 27,000.00 3 Riprap 50 Ton $ 35.00 $ 1,750.00 SUBTOTAL-DRAINAGE $ 88,750.00 MISCELLANEOUS 1 Landscape 1 L.S. $30,000.00 $ 30,000.00 2 Power 1 L.S. $75,000.00 $ 75,000.00 3 Gas 1 L.S. $15,200.00 $ 15,200.00 4 Telephone 1 L.S. $ 7,600.00 $ 7,600.00 $ 127,800.00 SUBTOTAL $1,057,350.00 Engineering/Supervision (Including Testing and record Dwgs.) $ 57,700.00 10%Contingency $ 105,735.00 ESTIMATED TOTAL $1,220,785.00 August 28, 2002 PELICAN LAKE RANCH -FILING 2 -PHASE II -PART 1(53 LOTS) OPINION OF PROBABLE COST WATER 1 Water Mains 22,000 L.F. $ 20.00 $ 440,000.00 2 Fire Hydrant Assembly 9 EA. $ 2,700.00 $ 24,300.00 3 Gate Valves 7 EA. $ 1,000.00 $ 7,000.00 4 Fittings 15 EA. $ 450.00 $ 6,750.00 5 Thrust Block 33 EA. $ 175.00 $ 5,775.00 SUBTOTAL-WATER $ 483,825.00 STREETS (ON-SITE) 1 Grading 35,000 C.Y. $ 3.50 $ 122,500.00 2 Base Course 8,500 TON $ 13.00 $ 110,500.00 3 Asphalt 9,500 TON $ 36.00 $ 342,000.00 4 Signage 30 EA. $ 400.00 $ 12,000.00 SUBTOTAL-STREET(ON-SITE) $ 587,000.00 DRAINAGE 1 Drainage Detention/Swales 20,000 C.Y. $ 2.40 $ 48,000.00 2 Culverts 440 L.F. $ 45.00 $ 19,800.00 3 Riprap 50 Ton $ 35.00 $ 1,750.00 SUBTOTAL-DRAINAGE $ 69,550.00 MISCELLANEOUS 1 Off-site Street(W.C.R.38) 1 L.S. $350,000.00 $ 350,000.00 2 Landscape 1 L.S. $ 30,000.00 $ 30,000.00 3 Power 1 L.S. $ 50,000.00 $ 50,000.00 4 Gas 1 L.S. $ 21,200.00 $ 21,200.00 5 Telephone 1 L.S. $ 10,600.00 $ 10,600.00 SUBTOTAL-MISCELLANEOUS $ 461,800.00 SUBTOTAL $1,602,175.00 Engineering I Supervision(Including Testing and Record Dwgs.) $ 80,100.00 10%CONTINGENCY $ 160,217.50 ESTIMATED TOTAL $1,842,492.50 August 28, 2002 PELICAN LAKE RANCH -FILING 2 - PHASE II -PART 2(53 LOTS) OPINION OF PROBABLE COST WATER 1 Water Mains 14,000 L.F. $ 14.00 $ 196,000.00 2 Fire Hydrant Assembly 10 EA. $ 2,700.00 $ 27,000.00 3 Gate Valves 6 EA. $ 1,000.00 $ 6,000.00 4 Fittings 15 EA. $ 450.00 $ 6,750.00 5 Thrust Block 33 EA. $ 175.00 $ 5,775.00 SUBTOTAL-WATER $ 241,525.00 STREETS 1 Grading 35,000 C.Y. $ 3.50 $ 122,500.00 2 Base Course 8,500 TON $ 13.00 $ 110,500.00 3 Asphalt 9,500 TON $ 36.00 $ 342,000.00 4 Signage 15 EA. $ 400.00 $ 6,000.00 SUBTOTAL-STREET $ 581,000.00 DRAINAGE 1 Drainage Detention/Swales 20,000 C.Y. $ 2.40 $ 48,000.00 2 Culverts 440 L.F. $ 45.00 $ 19,800.00 3 Riprap 50 Ton $ 35.00 $ 1,750.00 SUBTOTAL-DRAINAGE $ 69,550.00 MISCELLANEOUS 1 Landscape 1 L.S. $ 30,000.00 $ 30,000.00 2 Power 1 L.S. $ 50,000.00 $ 50,000.00 3 Gas 1 L.S. $ 21,200.00 $ 21,200.00 4 Telephone 1 L.S. $ 7,600.00 $ 7,600.00 SUBTOTAL-MISCELLANEOUS $ 108,800.00 SUBTOTAL $1,000,875.00 Engineering/Supervision (Including Testing and Record Dwgs.) $ 50,000.00 10%CONTINGENCY $ 100,087.50 ESTIMATED TOTAL $1,150,962.50 August 28, 2002 PELICAN LAKE RANCH -FILING 2 - PHASE III - PART 1 (54 LOTS) OPINION OF PROBABLE COST WATER 1 Water Mains 14,000 L.F. $ 12.00 $ 168,000.00 2 Fire Hydrant Assembly 11 EA. $ 2,700.00 $ 29,700.00 3 Gate Valves 15 EA. $ 1,000.00 $ 15,000.00 4 Fittings 15 EA. $ 600.00 $ 18,000.00 5 Thrust Blocks 30 EA. $ 175.00 $ 5.250.00 SUBTOTAL-WATER $ 235,950.00 STREETS 1 Grading 35,000 C.Y. $ 2.40 $ 84,000.00 2 Base Course 10,000 TON $ 13.00 $ 130,000.00 3 Asphalt 10,000 TON $ 36.00 $ 360,000.00 4 Signage 20 EA. $ 400.00 $ 8,000.00 SUBTOTAL-STREET $ 582,000.00 DRAINAGE 1 Drainage Detention/Swales 50,000 C.Y. $ 2.40 $ 120,000.00 2 Culverts 600 L.F. $ 45.00 $ 27,000.00 3 Riprap 50 Ton $ 35.00 $ 1,750.00 SUBTOTAL- DRAINAGE $ 148,750.00 MISCELLANEOUS 1 Landscape 1 L.S. $ 5,000.00 $ 5,000.00 2 Power 1 L.S. $50,000.00 $ 50,000.00 3 Gas 1 L.S. $21,600.00 $ 21,600.00 4 Telephone 1 L.S. $10,800.00 $ 10,800.00 SUBTOTAL-MISCELLANEOUS $ 87,400.00 SUBTOTAL $1,054,100.00 Engineering/Supervision(Including Testing and Record Dwgs.) $ 52,700.00 10%contingency $ 105,410.00 ESTIMATED TOTAL $1,212,210.00 r August 28, 2002 PELICAN LAKE RANCH -FILING 2 - PHASE III -PART 2 (54 LOTS) OPINION OF PROBABLE COST WATER 1 Water Mains 14,000 L.F. $ 12.00 $ 168,000.00 2 Fire Hydrant Assembly 11 EA. $ 2,700.00 $ 29,700.00 3 Gate Valves 15 EA. $ 1,000.00 $ 15,000.00 4 Fittings 15 EA. $ 600.00 $ 18,000.00 5 Thrust Blocks 30 EA. $ 175.00 $ 5,250.00 SUBTOTAL-WATER $ 235,950.00 STREETS 1 Grading 35,000 C.Y. $ 2.40 $ 84,000.00 2 Base Course 10,000 TON $ 13.00 $ 130,000.00 3 Asphalt 10,000 TON $ 36.00 $ 360,000.00 4 Signage 20 EA. $ 400.00 $ 8,000.00 SUBTOTAL-STREET $ 582,000.00 DRAINAGE 1 Drainage Detention/Swales 50,000 C.Y. $ 2.40 $ 120,000.00 2 Culverts 600 L.F. $ 45.00 $ 27,000.00 3 Riprap 50 Ton $ 35.00 $ 1,750.00 SUBTOTAL- DRAINAGE $ 148,750.00 MISCELLANEOUS 1 Landscape 1 L.S. $ 5,000.00 $ 5,000.00 2 Power 1 L.S. $50,000.00 $ 50,000.00 3 Gas 1 L.S. $21,600.00 $ 21,600.00 4 Telephone 1 L.S. $10,800.00 $ 10,800.00 SUBTOTAL-MISCELLANEOUS $ 87,400.00 SUBTOTAL $1,054,100.00 Engineering/Supervision (Including Testing and Record Dwgs.) $ 52,700.00 10%contingency $ 105,410.00 ESTIMATED TOTAL $1,212,210.00 August 28, 2002 PELICAN LAKE RANCH -FILING 2-PHASE 4-PART 1(58 LOTS) OPINION OF PROBABLE COST WATER 1 Water Mains 12,500 L.F. $ 12.00 $ 150,000.00 2 Fire Hydrant Assembly 13 EA. $ 2,700.00 $ 35,100.00 3 Gate Valves 6 EA. $ 1,000.00 $ 13,000.00 4 Fittings 15 EA. $ 600.00 $ 18,000.00 5 Thrust Block 35 EA. $ 175.00 $ 6,125.00 SUBTOTAL-WATER $ 222,225.00 STREETS 1 Grading 35,000 C.Y. $ 2.40 $ 84,000.00 2 Base Course 10,000 TON $ 13.00 $ 130,000.00 3 Asphalt 10,000 TON $ 36.00 $ 360,000.00 4 Signage 20 EA. $ 400.00 $ 8,000.00 SUBTOTAL-STREET $ 582,000.00 DRAINAGE 1 Drainage Detention/Swales 15,000 C.Y. $ 2.40 $ 36,000.00 2 Culverts 500 L.F. $ 45.00 $ 22,500.00 3 Riprap 50 Ton $ 35.00 $ 1,750.00 .-. SUBTOTAL- DRAINAGE $ 60,250.00 MISCELLANEOUS 1 Landscape 1 L.S. $ 7,500.00 $ 7,500.00 2 Power 1 L.S. $50,000.00 $ 50,000.00 3 Gas 1 L.S. $23,200.00 $ 23,200.00 4 Telephone 1 L.S. $11,600.00 $ 11,600.00 SUBTOTAL-MISCELLANEOUS $ 92,300.00 SUBTOTAL $ 956,775.00 Engineering/Supervision (Including Testing and Record Dwgs.) $ 47,850.00 10%Contingency $ 95,677.50 ESTIMATED TOTAL $1,100,302.50 August 28, 2002 PELICAN LAKE RANCH -FILING 2 -PHASE 4-PART 2(57 LOTS) OPINION OF PROBABLE COST WATER 1 Water Mains 12,500 L.F. $ 12.00 $ 150,000.00 2 Fire Hydrant Assembly 13 EA. $ 2,700.00 $ 35,100.00 3 Gate Valves 6 EA. $ 1,000.00 $ 13,000.00 4 Fittings 15 EA. $ 600.00 $ 18,000.00 5 Thrust Block 35 EA. $ 175.00 $ 6,125.00 SUBTOTAL-WATER $ 222,225.00 STREETS 1 Grading 35,000 C.Y. $ 2.40 $ 84,000.00 2 Base Course 10,000 TON $ 13.00 $ 130,000.00 3 Asphalt 10,000 TON $ 36.00 $ 360,000.00 4 Signage 20 EA. $ 400.00 $ 8.000.00 SUBTOTAL-STREET $ 582,000.00 DRAINAGE 1 Drainage Detention/Swales 15,000 C.Y. $ 2.40 $ 36,000.00 2 Culverts 500 L.F. $ 45.00 $ 22,500.00 3 Riprap 50 Ton $ 35.00 $ 1,750.00 SUBTOTAL- DRAINAGE $ 60,250.00 MISCELLANEOUS 1 Landscape 1 L.S. $ 7,500.00 $ 7,500.00 2 Power 1 L.S. $50,000.00 $ 50,000.00 3 Gas 1 L.S. $22,800.00 $ 22,800.00 4 Telephone 1 L.S. $11,400.00 $ 11,400.00 SUBTOTAL-MISCELLANEOUS $ 91,700.00 SUBTOTAL $ 956,175.00 Engineering/Supervision (Including Testing and Record Dwgs.) $ 47,800.00 10%Contingency $ 95,617.50 ESTIMATED TOTAL $1,099,592.50 ,- . `rr .1—, ••b • 1 f '' ; • ! , 2. • r _ 1 !r �„ • l,v !1 U } ° 'unto� F � ri v► rr ltanc wifh: Ch�a of, Zone . ; .,0 r. } 1H". BEEBE DRAW FARMS and FQUESTRIAN CENTER FILING No. 2 16. STATEMENT INDICATING THAT THE PROPOSED PUD Final Plan is in Compliance and meets all criteria as set forth in the Change of Zone. All of the submitted materials are in compliance with the application requirements and Section 28 of the Weld County Zoning Ordinance. The request is in conformance with Section 28.13 of the Weld County Zoning Ordinance, as follows: a. The proposed Planned Unit Development Final Plan is consistent with the Weld County Comprehensive Plan and is compatible with the future development as permitted by existing PUI)Districts and plans of affected municipalities. The property received a Change of Zone approval on December 21, 1983 (Case Z-412) (Amended Case Z-412, 1989). The Change of Zone applications were for PUD residential lots and equestrian recreational activities. b. The Planned Unit Development Plan(PUD) conforms to the approved PUD District. The approved PUD plan called for residential and recreational activities to be located on this site. The applicant has provided for the uses as defined in the Change of Zone applications. c. The uses shall be compatible with the existing and future development of the surrounding area as permitted by the existing zoning, and with the future development projected by the Comprehensive Plan, or Master Plan of affected municipalities. The property is not located within a municipality's urban growth boundary nor is it affected by a municipal comprehensive plan. The Weld County Zoning Ordinance recognizes the right to proceed with a Final Plat as long as the plat has been diligently pursued from the date of original zoning approval. As such,we have shown diligence in pursuit of this final plat, including having to undergo a Substantial Change approval to continue processing this final plat in 2001. d. The proposed Planned Unit Development PUD Final Plat conforms with the performance standards in Section 35.3 of the Weld County Zoning Ordinance. The amenities on the site will be provided and funded by the Beebe Draw Farms Metropolitan District. The service plan has been reviewed by Weld County and has been filed with the Weld County District Court and is included for review with this application. e. The proposed Planned Unit Development Final Plat will be in compliance with the Weld County Zoning Ordinance, Section 50, pertaining to overlay districts. The site is not influenced by an overlay district, nor does the site lie within an urban growth boundary area. ; , Y ♦ . �.�.,",,°:', r )Y r , 1, t - P i r t: •� t - F�mal: Pia.n Plat Ma r, :±) Separate Exit Ft _; y . r Y'. A. .. r BEEBE DRAW FARMS and EQUESTRIAN CENTER FILING No. 2 ti • At } b k J a rt seape ,Neap r Separ�a a' X tb:it , r.' r �Ir ]_ jl 4.r LI •�� BEEBE DRAW FARMS and EQUESTRIAN CENTER FILING No. 2 v t 1r. t f • k, is f ..•; .t iY t _ 4 � � ♦Yy�i '.r l 4 Se av er Exhi 1t . a ,,: , • . i\te r �♦ r f'. li \ . .. Y'••: BEEBE DRAW FARMS and FQUESTRIAN CENTER FILING No . 2 Hello