HomeMy WebLinkAbout20002225.tiff IMPROVEMENTS AGREEMENT ACCORDING
POLICY REGARDING COLLATERAL FOR IMPROVEMENTS
(PUBLIC ROAD MAINTENANCE)
THIS AGREEMENT, made and entered into this 9- day of , 2000. by and
between the County of Weld, State of Colorado, acting through its Board of Count?
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 followini
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 Count,
for approval; and
WHEREAS, relevant Weld County Ordinances provide that no Subdivision Final Pla.,
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 constriction
of the public improvements shown on plans, plats and supporting documents of the Subdivision
Final Plat,Planned Unit Development Final Plat, or Site Plan, which improvements, along with a
time schedule for completion, are listed in Exhibits "A" and "B" of this Agreement.
NOW, THEREFORE, IN CONSIDERATION OF the foregoing and of the acceptance
and approval of said,Final Plat, the parties hereto promise, covenant and agree as follows:
1.0 Engineering Services: Applicant shall furnish, at its own expense, all engineering
services in connection with the design and construction of the Subdivision or
Planned Unit Development improvements listed on Exhibit "A," which is
attached hereto and incorporated herein by reference.
1.1 The required engineering services shall be performed by a Professional
Engineer and Land Surveyor registered in the State of Colorado, and shall
conform to the standards and criteria established by the County for public
improvements.
1.2 The required engineering services shall consist of, but not be limited to,
surveys, designs, plans and profiles, estimates, construction supervision,
and the submission of necessary documents to the County.
Beebe D-aw F EXHIBIT
Are
2000-2225
1.3 Applicant shall furnish drawings and cost estimates for roads within the
Subdivision or Planned Unit Development to the County for approvai
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
final statement of construction cost to the County.
2.0 Rights-of-way and Easements: Before commencing the construction o" am,
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 easement;
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 Count'
for recording.
3.0 Construction: Applicant shall furnish and install, at its own expense, the
Subdivision or Planned Unit Development improvements listed on Exhibit "A, '
which is attached hereto and incorporated herein by reference, according .o 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 tim
the Subdivision or Planned Unit Development is proposed, th.2
requirements and standards of the County shall be adhered to. If bcth the
incorporated community and the County have requirements and standard ,
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 mater als or
construction that is required by the County; and shall furnish copies of te:t
results to the County.
3.3 At all times during said construction, the County shall have the right to
test and inspect, or to require testing and inspection of material and work,
at Applicant's expense. Any material or work not conforming to the
approved plans and specifications shall be removed and replaced to the
satisfaction of the County at Applicant's expense.
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3.4 Applicant shall furnish proof that proper arrangements have been matte 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, withir 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 Applican:
subject to the terms of Section 6 herein.
4.0 Release of Liability:: Applicant shall indemnify and hold harmless the Count,
from any and all liability loss and damage County may suffer as a result if al'
suits, actions or claims of every nature and description caused by, arising from, of
on account of said design and construction of improvements, and pay any and al.
judgments rendered against the County on account of any such suit, action or
claim, together with all reasonable expenses and attorney fees incurred h' C nunt'.
in defending such suit, action or claim whether the liability, loss or damage r,
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 lion 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 employee;
engaged in construction of the improvements shall maintain adequate worker' .
compensation insurance and public liability insurance coverage, and shall ooerat0
in strict accordance with the laws and regulations of the State of Colorado;
governing occupational safety and health.
5.0 Off-Site Improvements Reimbursement Procedure: The subdivider, applicant, or
owner may be reimbursed for off-site road improvements as provided in this
section when it has been determined by the Board of County Commissioners that
the road facilities providing access to the Subdivision or Planned Unit
Development are not adequate in structural capacity, width, or functional
classification to support the traffic requirements of the uses of the Subdivision or
Planned Unit Development.
5.1 The subdivider, applicant, or owner shall enter into an off-site
improvements agreement prior to recording the final plat when the
subdivider, applicant, or owner expects to receive reimbursement for part
of the cost of the off-site improvements.
5.2 The off-site improvements agreement shall contain the following:
The legal description of the property to be served.
The name of the owner(s) of the property to be served.
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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 madoto
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 ander
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 genera ed b✓
the original development. Evidence that the original subdivider, applicant,
or owner has been reimbursed by the subsequent subdivider, applicant ( r
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 cos:s shall
also consider inflation as measured by the changes in the Colorado
Construction Cost Index used by the Colorado Division of Highways. The
cost of road improvements may be paid by cash contribution to the prior
subdivider, applicant or owner, or by further road improvements which
benefit the prior subdivider, applicant, or owner's property. This decision
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shall be at the sole discretion of the Board of County Cormissioners
based upon the need for further off-site road improvements.
5.6 The report entitled TRIP GENERATION (Third Edition, 19821 of the
institute of Transportation Engineers shall normally be usec for
calculating a reasonable pro rata share of the road improvement
construction costs for all Subdivisions, Resubdivisions, or Planned Unit
Developments. A special transportation study shall be used for land uses
not listed in the ITE Trip Generation Manual. Any question about the
number of trips a Subdivision, Resubdivision, or Planned Unir
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 o�
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
guarantor of the monies to be reimbursed by the subsequent subdix iders,
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 he 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 lois
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
Commissioners accept them for partial maintenance by the County. Partial
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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 Engineet shall
reinspect the streets after notification from the applicant(s) that an
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 b::
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 phase
development as set forth in Section 7.2, acceptable collateral shall be
submitted arid the plat recorded within six (6) months of the Final Plat
approval. If acceptable collateral has not been submitted within six (61
months then the Final Plat approval and all preliminary approvals shill
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
f 1) year after the Final Plat approval (not one year after acceptable
collateral is submitted) unless the applicant(s) requests that this
Agreement be renewed at least thirty (30) days prior to its expiration and
further provides that cost estimates for the remaining improvements ate
updated and collateral is provided in the amount of One-Hundrec percent
(100%) of the value of the improvements remaining to be completed, f
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 improvemen s
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
need only to provide collateral for the improvements in each filing as
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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 n 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 he
equal to a minimum of One-Hundred percent (100%) of the
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estimated costs of completing the uncompleted portions of the
required improvements, based on inspections o rI the
development by the issuer. In no case shall disbursement for a
general improvement item exceed the cost estimate n the
Improvements Agreement (i.e., streets, sewers, water mains
and landscaping, etc.). The issuer of the Letter of Credit wiil
sign the Improvements Agreement acknowledging the
agreement and its cost estimates.
8.1.5 The Letter of Credit shall specify that fifteen percent (1`%) 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 Late 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 Utter 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 of other
property acceptable to the Board of County Commissioners provichd that
the following are submitted:
8.2.1 In the event property within the proposed development ',s 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 is
current degree of development is sufficient to cover One-
Hundred percent (100%) of the cost of the improvement; 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, thien 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
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(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
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 finds NA ill be.:
used for improvements as specified in the agreement and 'or 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 Improvement
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 Slate of
Colorado that the project or a portion of the project has been comple.ed in
substantial compliance with approved plans and specifications documenting the
following:
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9.1 The Engineer or his representative has made regular on-site inspections
during the course of construction and the construction plans utilized arc
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 r.;leasc
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, .f
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 -esults
of fire flow tests.
9.6 The requirements in Sections 9.0 thru 9.5 shall be noted on the final
construction plans.
9.7 Following the submittal of the Statement of Substantial Compliance and
recommendation of acceptance of the streets for partial maintenance by
the County, the applicant(s) may request release of the collateral or the
project or portion of the project by the Board. This action will be tLken it
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
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Subdivision or Planned Unit Development streets and utility easements of a
character, extent and location suitable for public use for parks, greenbelts o:
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 3-15-13 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 Plannee 1Jnit
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 submiss on of
the required acreage as determined according to Section 3-15-13 of the
Weld County Subdivision Ordinance. Such value shall be determined by a
competent land appraiser chosen jointly by the Board and the App icam.
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 c f said
land.
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IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed
on the day and year first above written.
APPLICANT:
REI, LLC, d/b/a Investors LLC
/ (V(4-,.// ///. /
Name: /_�1r-/I. . w(i Title: :4%'t:/.r,-:7..
Subscribed and sworn to before me this ' day ofd--i-I, 2000.
My Commission expires: `i�/.s .•), �'�� .-
-� z rl 7. 7 .. ./.."),' re-ii.,:..
1Not •7. ,:12:__
__„ ry Public
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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
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EXHIBIT"A"
Name of Subdivision.: Beebe Draw Farms Filing No.2
Location: Located in Sections 4,5,8,9 and 17,Township 3 North,Range 65 West of the 6`h Piincipi:l
Meridian,Weld County,Colorado
Intending to be legally bound,the undersigned Applicant hereby agrees to provide throughout this subdivision and
as shown on the subdivision final plat recorded on in Book ,Reception No. _
_. the following improvements'
Beebe Draw Farms
Filing No.2,Phase I
80 lots
Cost for Public Improvements
Item Qty. Unit Unit Cost Total Cost
WATER
8"PVC,CI 200 17,690 I.f. -$ 12.00 S212,280
Hydrant Assembly 4) ea. $ 2,850.00 $25,650
Thrust Block 10 ca. $ 175.00 $1,750
8"x8"Tee Ill ca. S 450.00 $4,500
8"x6"Reducer '► ca. $ 300.00 $1,800
10"911 deg.Bend 2 ca. $ 325.00 $650
STREETS
(Wading 52,1447 cy S 3.41 $179,526
Asphalt 1.536 ton $ 28.40 $43,622
Erase Course 2,956 ton $ 28.40 $83,950
Signage i.s. $ 21.000.00 $21,000
STORM
18"Culvert 275 If S 32.00 $12,000
24"Culvert 107 If S 36.00 56.012
Type'M'Rip-Rap 33 ton $ 32.00 52,656
Retention Pond Grading 7.924 cy $ 2.00 $15,848
S. e
MISCELLANEOUS
landscaping Is $ 75,000.00 $75,000
Gas 80 ca $ 600.00 $48,000
Phone SO ea S 100.00 58,000
Electric 80 ca $ 800.01) $(4,000
w
GRAND SUBTOTAL $806,245
Engineering/Supervision Costs(including testing and as huiits) S48,375
10%Contingency $30,625
a I i; 7 ; ,`y ,. • B11 0s 1r.hrt • 1 • $ ,
The above improvements shall be constructed in accordance with all County requirements and specifications. and
conformance with this provision shall be determined solely by Weld County,or its duly authorized agent.
A-1
Said improvements shall be completed according to the construction schedule set out in Exhibit"B".
(If corporation,to be signed by President and attested to by Secretary,together with corporate seal)
Date: 2000
A-2
EXHIBIT"A"
Name of Subdivision: Beebe Draw Farms Filing No.2
Location: Located in Sections 4,5,8,9 and 17,Township 3 North,Range 65 West of the(-.,`II Principal
Meridian,Weld County,Colorado
Intending to be legally bound,the undersigned Applicant hereby agrees to provide throughout this subdivision and
as shown on the subdivision final plat recorded on in Book ,Reception No. _
, the following improvements:
Beebe Draw Farms
Filing No.2,Phase 2
36 lots
Cost for Public Improvements
Item Qty. Unit Unit Cost Total Cost
WATER
8"PVC,C1200 6,127 I.f. $ 12.00 573,524
10"PVC,CI200 1,361 1.f. S 14.00 $19,054
Hydrant Assembly 3 ea. $ 2,850.00 $8,550
Thrust Block 5 ea. $ 175.00 S875
3"x8"Tee 2 ea. $ 450.00 $900
I0"x8"Tee 3 ea. $ 550.00 51,650
3"x6"Reducer 3 ea. 5 200.00 5600
STREETS
Grading 27,600 cy S 3.41 594,116
Asphalt 657 ton $ 28.40 $18,659
Base Course 1,276 ton $ 28.40 $36,238
Signage I.s. 5 6,000.00 56,000
•
STORM
18"Culvert 147 If b 32.00 $4,704
Type'M'Rip-Rap 21 ton $ 32.00 $672
Retention Pond Grading 6.479 cy 5 2.00 $12.958
VP 1, isli'dAMIRATIMI
MISCELLANEOUS
Landscaping Is $ 3`,000.00 835,000
Gas 36 ea 5 600.00 521,600
Phone . 36 ea S 100.00 $3,600
Electric 36 ea $ 800.00 528,800
A
all
GRAND SUBTOTAL $367,500
Engineering/Supervision Costs(including testing and as-builts) 522,050
10"A.Contingency $36,750
.;,4:-.,411•
The above improvements shall be constructed in accordance with all County requirements and specification::, and
conformance with this provision shall be determined solely by Weld County,or its duly authorized agent.
A-3
Said improvements shall be completed according to the construction schedule set out in Exhibit'B
(If corporation, to be signed by President and attested to by Secretary,together with corporate seal)
Date: 2000
A-4
EXHIBIT"A"
Name of Subdivision: Beebe Draw Farms Filing No.2
'.Location: Located in Sections 4,5,8,9 and 17,Township 3 North, Range 65 West of the 61" Principal
Meridian,Weld County, Colorado
intending to be legally bound, the undersigned Applicant hereby agrees to provide throughout this subdivision and
as shown on the subdivision final plat recorded on in Book Reception No. _
the following improvements:
Beebe Draw Farms
Filing No.2,Phase 3
'73 lots
Cost for Public Improvements
Item Qty. Unit Unit Cost Total Cost
WATER
8"PVC,CI 200 8,310 I.f. $ 12.00 $99,720
10"PVC.CI 200 5,790 I.f. $ 14.00 $81,060
Hydrant Assembly 7 ca. $ 2,850.00 $19,950
'Thrust Block 8 ea. $ 175.00 51,400
8"x8"Tee 2 ea. $ 450.00 8900
10"x8"Tee 6 ea. $ 550.00 53,300
8"x6" Reducer7 ea. $ '.00.00 81,400
v1 F x x:. 3 • :::,n; t
111-33Q,3,�"Ee.. ti.�,. . _� es N .x_ "� ,, =,tf;, ,e, "-�.+ �°�s,-e �aa.r�'`15'.3.,<'.
STREETS
Grading 36,895 cy $ ..41 8125,812
Asphalt 1,167 ton $ 28.40 $33,143
Base Course 2,244 ton $ 28.40 $03,730
Signage I.s. gg $ 8,000.00 58,000
STORM
18"Culvert 106 If $ 32.00 56,272
24"Culvert I57 If $ 30.00 $5,652
Type'M'Rip-Rap 62 ton $ 32.00 $1,984
Retention Pond Gracing 9,205 cy $ 2.00 $18,410
nlsl, �')` ''3 ps..,,v � .I. ,�:."'}. s .'ftr`a• x r.�"'� s t 'i.�`'.',t,," £.,,,k yK`,
MISCELLANEOUS
Landscaping Is $ 70,1)01)00 S'0,000
Gas 73 ea $ 601).00 $43,800
I'hone 73 ca $ 100.00 57,300
Electric 73 ea $ 800.00 558,400�
GRAND SUBTOTAL $650,232
Engineering/Supervision Costs(including testing and as-builts) $39,014
I 0%Contingency $05,1)23
&Ix t✓r` 1 a ,z,nt !'^ 111 1, 7'Ir 1 I 1) 1� s'
The above improvements shall be constructed in accordance with all County requirements and specifications and
conformance with this provision shall be determined solely by Weld County, or its duly authorized agent
A-5
Said improvements shall be completed according to the construction schedule set out in Exhibit"B".
(If corporation,to be signed by President and attested to by Secretary,together with corporate seal)
Date: .2000
A-6
EXHIBIT"A"
Name of Subdivision: Beebe Draw Farms Filing No. 2
Location: Located in Sections 4,5,8,9 and 17, Township 3 North, Range 65 West of the 6 t' incipal
Meridian,Weld County, Colorado
Intending to be legally bound,the undersigned Applicant hereby agrees to provide throughout this subdivisimn. and
as shown on the subdivision final plat recorded on in Book , Reception No. _
the following improvements.
Beebe Draw Farms
Filing No.2,Phase 4
105 lots
Cost for Public Improvements
Item Qty. Unit Unit Cost Total Cost
WATER
6"PVC,CI 200 412 I.F. $ 10.00 $4,120
8"PVC,CI 200 13,205 I.f $ 12.00 $158,460
10"PVC,C1200 3,216 I $ 14.00 545,024
12"PVC,C1200 7,424 I.C. $ 16.00 $118,784
hydrant Assembly 0 ca. S 2,85000 $17,100
Thrust Block 8 ca. S 175.00 51,400
8"x6" Reducer 5 ea. $ -'00.00 $1,000
k"x6"Tee ea. $ 400.00 5400
N"x8"Tee 4 ea. $ 450.00 $1,800
10"x10"Tee I ea. $ 000.00 $600
10"x8"x8"Tee ea. $ 550.00 $550
10"x12"Reducer I ea. $ 300.00 $300
12"xl 2"Tee I Ca. S 500.00 $600
12"x12"x8"'Pee _ ca. $ 800.00 SL200
(i"x8"x12"Tee ea. $ 550.00 $550
10"90 deg.Bend I ca_ $ 325.00 5325
c;3.1....1110 "ri«w.a 7 , . ., ' ' ,.' 1 -rSi".53f7.1'.-Ts ,,.3, c:11
STREETS
Grading 70,830 cy $ 3.41 $241,561
Asphalt 1,759 ton $ 213.40 $49,956
Base Course 3,427 ton $ 23.40 $07,327
Signage ls. S 16,000.00 rr $16,000
STORM
l8"Culvert 531 If S 32.00 $16,992
24"Culvert 64 If S 36.00 $2,304
30"Culvert 122 If $ 50.00 $6,100
Type'M'Rip-Rap I07 ton $ 32.00 .$3,424
Retention Pond Grading 41.778 cy S 0.50 520,889
MISCELLANEOUS
Landscaping Is S 75.000.00 $75,000
Gas 105 ea S 600.00 $63,000
Phone 105 ea $ 100.00 $10,500
Electric 105 ea $ 800.00 $84,000
GRAND SUBTOTAL $1,039,265
Engineering/Supervision Costs(including testing and as-butts) $62,356
10%Contingency $103,927
A-7
The above improvements shall be constructed in accordance with all County requirements and specifications, and
conformance with this provision shall be determined solely by Weld County, or its duly authorized agent.
Said improvements shall.be completed according to the construction schedule set out in Exhibit"B"
(If corporation, to be signed by President and attested to by Secretary,together with corporate seal)
Date: , 2000
A-8
EXHIBIT"A"
Name of Subdivision: Beebe Draw Farms Filing No. 2
Location: Located in Sections 4,5,8,9 and 17,Township 3 North, Range 65 West of the 6' Pr ncipa.
Meridian, Weld County, Colorado
Intending to be legally bound, the undersigned Applicant hereby agrees to provide throughout this subdivision anc.
as shown on the subdivision final plat recorded on in Book , Reception No. _
the following improvements:
Beebe Draw Farms
Filing No.2,Phase 5
38 lots
Cost for Public Improvements
Item Qty. Unit Unit Cost Total Cost
WATER
8"PVC,CI 200 8,658 LE $ 12.00 $103.896
l0"PVC,CI 200 1,460 Lf. $ 14.00 $20440
Hydrant Assembly 2 ea. $ 2,850.00 $5,700
Throsl Block 4 ea. $ 175.00 $700
I0"x8"Reducer ea. $ 250.00 $250
8"x8"Lee 4 ea. $ 450.00 $1,800
8"x6"Reducer 2 ea. $ 200.00 $400
STREETS
Grading 27,727 cy $ 3.41 $9.549
Asphalt 557 ton $ 28.40 $15,819
Base Course 1,089 Ion S 28.40 $30,928
Signage I.s. $ 7,000.00 $7,000
STORM
!8"Calvert 382 If $ 32.00 $12,224
ype'M'Rip-Rap 44 ton $ 32.00 $1,408
Retention Pond Grading 12,169 cy $ 0.50 $6,085
MISCELLANEOUS
Landscaping Is $ 35,000.00 $35,000
Gas 38 as $ 600.00 $22,800
Phone 38 ea $ 100.00 53,800
Electric 38 ea $ 800.00 $30,400
GRAND SUBTOTAL $393,198
Engineering/Supervision Costs(including testing and as-builts) S23,592
10%Contingency 539,320
The above improvements shall be constructed in accordance with all County requirements and specifications, and
conformance with this provision shall be determined solely by Weld County,or its duly authorized agent.
A-9
Said improvements shall be completed according to the construction schedule set out in Exhibit"B".
(If corporation,to be signed by President and attested to by Secretary,together with corporate seal)
Date: 2000
A-10
EXHIBIT"A"
Name of Subdivision: Beebe Draw Farms Filing No. 2
Location: Located in Sections 4,5,8,9 and 17,Township 3 North, Range 65 West of the 6`" Priictpal
Meridian, Weld County, Colorado
Intending to be legally bound, the undersigned Applicant hereby agrees to provide throughout this subdivision and
as shown on the subdivision final plat recorded on in Book , Reception No
the following improvements:
Beebe Draw Farms
Filing No.2,Phase 6
78 lots
Cost for Public Improvements
Item Qty. Unit Unit Cost Total Cost
WATER
6"PVC,CI 200 1,789 LI. $ 10.00 $17,890
8"PVC,CI 200 13,191 I11 .$ 12.00 8158,292
ID"PVC,CI 200 577 I.I: $ 14.00 88,078
I::"PVC,CI 200 454 I L $ 16 00 $7,264
Hydrant Assembly 8 ea. $ 2,85000 822,800
Thrust Block 13 ea. $ 175.00 82,275
8"x6" Reducer I ea. $ 200.00 $600
10"x8"Reducer i ea. $ 250.00 $250
8'X8" Fee 7 ea. $ 450.00 83,150
8'x12"Tee I ca. $ 550.00 $550
8"x6" Fee 5 ea. $ 400.00 52,000
..ate , ,, <av ' I_ ,„S9 e} ��.,
STREETS
Grading 64,383 cy $ 3.41 $219,546
Asphalt 1,367 ton $ 28.40 $38,823
Base Course 2,619 ton $ 28.40 $74380
Slgnage i.e. $ 21,000.00 $21,000
t,a "�.�..�. -.s -•s:.`I"-:� ,.5 " , � ,_. . , ..,rf ,.'..t= y-4^s,�, �f rr ���h�p-4'L�,gi;X�3"��w
STORM
18"Calvert 439 If $ 32.00 514,048
type'M'Rip-Rap 4') ton 5 32.00 4),568
Retention Pond Grading 20,399 cy $ 0.50 $10,200
MISCELLANEOUS
Landscaping Is $ 70000.00 $70,000
Gas 78 ea $ 000.00 546,800
I'hunt 78 ea $ 100.00 87,800
Electric 78 ea $ 300-00 502.00
GRAND SUBTOTAL $789,713
Engineering/Supervision Costs(including testing and as-huilts) $47,383
10%Contingency $78,071
ci eC'n It ' I s
A—II
The above improvements shall be constructed in accordance with all County requirements and specifications, tend
conformance with this provision shall be determined solely by Weld County, or its duly authorized agent.
Said improvements shall be completed according to the construction schedule set out in Exhibit'B".
(If corporation, to be signed by President and attested to by Secretary,together with corporate seal)
Date: , 2000
A-12
EXHIBIT"A"
Name of Subdivision: Beebe Draw Farms Filing No. 2
Location: Located in Sections 4,5,8,9 and 17,Township 3 North, Range 65 West of the 6th Prtn;ipal
Meridian,Weld County,Colorado
Intending to be legally bound, the undersigned Applicant hereby agrees to provide throughout this subdivision and
as shown on the subdivision final plat recorded on _in Book_ ,Reception '4o. _
the following improvements:
Beebe Draw Farms
Filing No.2,Phase 7
Cost for Public Improvements
Item Qty. Unit Unit Cost Total Cost
WATER
6"PVC,CI 200 1,209 I.f $ 10.00 $12,090
8" PVC.CI 200 25.445 If $ [2.00 $305340
Hydrant Assembly 15 ea $ 2,850.00 342.750
Thrust Block 20 ea. $ 175.00 $3.500
8"x6"Reducer .1 ea. $ 200.00 $2,200
8"x 8"Tee 16 ea. $ 450.00 $7,200
8"xb"'lee 4 ea. $ 400.00 316011
STREETS
Grading 70,431 Cr $ 3.41 3240,170
Asphalt 2,523 ton $ 28.40 $71,653
Base Course 4.857 ton $ 28.40 $137,825
SIenage I.s. $ 30,000.00 33(1,000
ret ',"1!- 3405,3'. ' 1. .33 e
STORM
18"Culvert 521 If $ :.2.00 $10,672
24"Culvert 471 It $ -6.00 $10,956
Type'M'Rip-Rap 81 ton $ :2.00 $2,592
Retention Pond Grading 1,750 cv 5 050 $875
MISCELLANEOUS
Landscaping is $ 120,000.00 $120,000
Gas 120 ea $ 600.00 575,600
Phone 120 ea $ 100.00 $13,600
61ec[rir. [26 ea $ 800 00 $100,800
vti ia�. • s`. _ +;.: w a Y1 apt :'—.' 1 p° I t,
GRAND SUBTOTAL $1,200,423
Engineering/Supervision Costs(including testing and as-builts) $72.025
1(1%Contingency $120,042
r a r 4 'tzre
t wsgoUrs rat pia
The above improvements shall be constructed in accordance with all County requirements and spec.fications, and
conformance with this provision shall be determined solely by Weld County, or its duly authorized agent.
A-13
Said improvements shall be completed according to the construction schedule set out in Exhibit"B"
(If corporation,to be signed by President and attested to by Secretary,together with corporate seal)
Date: 2000
A-14
EXHIBIT"B"
Name of Subdivision: Beebe Draw Farms Filing No. 2
Location: Located in Sections 4,5,8,9 and 17,Township 3 North,Range 65 West of the 6'" Principal
Meridian, Weld County, Colorado
Intending to be legally bound, the undersigned Applicant hereby agrees to provide throughout this subdivision a nd
as shown on the subdivision final plat recorded on __in Book_ ,Reception No._
the following schedule:
All improvements shall be completed within years from the date of approval of the final pia:.
Construction of the improvements listed in Exhibit"A"shall be completed as follows:
IMPROVEMENTS TIMING AND PHASING SUMMARY
PHASE NO, OF LOTS TIMING
1 B0 2002-2003
2 36 2003
3 73 2003-2004
4 105 2004-2005
5 38 2005
6 78 2005-2006
7 126 2006-2007
The County, at its option, and upon the request of the Applicant,may grant an extension of time for completion for
any particular improvements shown above, upon a showing by the Applicant that the above schedule cannot bi met.
Date: 2000
B-1
ASSIGNMENT OF
IMPROVEMENTS AGREEMENT
THIS ASSIGNMENT OF IMPROVEMENTS AGREEMENT ( "Assignment " ) is
made as of the day of May, 2000 , between REI , I_JMIaED
LIABILITY COMPANY, a Wyoming corporation d/b/a Investors, L:_mited
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 rcad
improvements ( "Improvements" ) , as set forth in Exhibits A and B
of the Improvements Agreement , related to development with: n 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 Eet
forth in Exhibit A of the Improvements Agreement .
In order to more effectively administer the installat:_on 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 he
Improvements Agreement or authorize alternate collateral and
EXHIBIT
improvements guarantees for the Improvements installed bz tne
District .
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
7 By: ',
Title : /7/4z,i---r L/
Date : Oil? 3/ , 2000
STATE OF COLORADO }
} ss .
COUNTY OF ,J EFFEeSON }
The foregoing Assignment of Improvements Agreemen: was
acknowledged before me this 3111 dax of _ , 20( 0 ,
by B1,12CE fk . ti;Li `r as OM-Kt:V. of REI ,
Limited Liability Company.
--Witness my hand and official seal .
'',�AASIA B••a, �. �
U
r �NpTA{?y t. ur c. - ;
Y It M+
CI r q
•^ ?p 4/ ssion expires :k%
O "cZ Ia Z
2
BEEBE DRAW FARMS METROPOLITAN BEEBE DRAW FARMS METROPOLITAN
DISTRICT NO. 1 DISTRICT NO. 2
C l ----, (
By: an /d1 BY --
Ch,' m C airma
Date : _ 1I , 2000 Date : -���/ 2')00
STATE OF COLORADO }
} ss .
COUNTY OF ,�c.F`E R-SC-'•N }
The foregoing Assignment p�f Improve ents Agreement was
acknowledged before me this 3t day of , 20')0 ,
by James W, Fell as Chairman of the Board of ectors of Beebe
Draw Farms Metropolitan Districts No. 1 and No. 2 .
.-- .,,,,,,Witness my hand and official seal .
p\S
'7 5. I4 g,'t: IOTA R 'y J'. ' ti�
-
i ... : ' = Not y -P —
¼ tPu3L\ $Lmission expires : _� .2 200 Z
+ ,_ 2
ACCEPTANCE OF ASSIGNMENT
The County of Weld, Colorado, hereby accepts the Assignment
of Improvements Agreement on this _ day of _ ,
2000 .
By:Title :
3
IMPROVEMENTS AGREEMENT ACCORDING
POLICY REGARDING COLLATERAL FOR IMPROVEMENTS
(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 Agreemem.
NOW, THEREFORE, IN CONSIDERATION OF the foregoing and of the acccptance
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.
B,,be Thaw Fum,N'.uo,AweU:dnar
Weld Co,n y-External Pc d bapro+mmnr.doc
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 Count y
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
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 b) 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 fractional
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:
3
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, R.esubdivision, 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 development 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 v hich
4
benefit the prior subdivider, applicant, or owner's property. Thi.s 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, 1982i of the
institute of Transportation Engineers shall normally be used for
calculating a reasonable pro rata share of the road improvement
construction costs for all Subdivisions, Resubdivisions, or Planned Unit
Developments. A special transportation study shall be used for land uses
not listed in the ITE Trip Generation Manual. Any question about the
number of trips a Subdivision, Resubdivision, or Planned Unit
Development will generate shall be decided by the County Engineer.
5.7 The term for which the subdivider, applicant, or owner is en.itled 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) hat any
deficiencies have been corrected. If the County Engineer finds that the
streets are constructed according to County standards, he shall recpmrnend
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
(1) year after the Final Plat approval (not one year after acceptable
collateral is submitted) unless the applicant(s) requests 'hat_this
Agreement be renewed at least thirty (30) days prior to its expiration and
further provides that cost estimates for the remaining improvements are
updated and collateral is provided in the amount of One-Hundred percent
(100%) of the value of the improvements remaining to be completed. If
improvements are not completed and the agreement not renewed within
these time frames, the County, at its discretion, may make demand on all
or a portion of the collateral and take steps to see that the improvements
are made.
7.2 The applicant may, 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 pemiits
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 I3id
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 (1.00%) 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 co\er 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 final
construction plans.
9.7 Following the submittal of the Statement of Substantial Compliance and
recommendation of acceptance of the streets for partial maintenance by
the County, the applicant(s) may request release of the collateral for the
project or portion of the project by the Board. This action will be taken at
a regularly scheduled public meeting of the Board.
9.8 The request for release of collateral shall be accompanied by "Warranty
Collateral" in the amount of fifteen percent (15%) of the value of the
improvements as shown in this Agreement excluding improvements fully
accepted for maintenance by the responsible governmental entity, special
district or utility company.
9.9 The warranty collateral shad be released to the applicant upon final
acceptance by the Board of County Commissioners for full ma ntenance
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-I5-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 of 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 8-15-13 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.
APPLICANT:
REI, LLC, d/b/a Investors LLC
Name: S.kr, f� �;/�
Title:so.,„„ _
i
Subscribed and sworn to before me this 3Lt day of Ejp ' 000.
My Commission expires: 1 2 Li 4002_L _ _.,. .„____,
____ ,„..,
,,,..... ix_,, ,, ,,,..,,,..N_
(..,..,.,...........,„„...
'y, NotTA IR Y .r
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12
BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLORADO
I3arbara 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 fmal plat County dated ,20 ,
recorded on ,20 , in Book ,Page No. ,Reception
No. ,the following improvements.
Beebe Draw Fanns
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
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
R/R Double Yellow Striping 870 If $ 11.00 $9,570
Sawcut 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 Drw Fauns`
Exhibits A and B-F2,trei¢.doc
The above improvements shall be constructed in accordance:with all County requirements and
specifications,and conformance with this provision shall be determined solely by Weld County,or its culy
authorized agent.
Said improvements shall be completed according to the construction schedule set out in Exhibit"B"
,
Date:
Beebe Draw Fmnss\
Exhibits A and B F2 cs[site dor
Exhibit"B"
Item Schedule for Completion
WCR 32/39 To be completed prior to the issuance of the 92"d 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 I.
Beebe Dee, Fems\
Exhibit:A end B F:otfsite.dot
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