HomeMy WebLinkAbout890821.tiff RESOLUTION
RE: APPROVE IMPROVEMENTS AGREEMENT ACCORDING TO POLICY REGARDING
COLLATERAL FOR IMPROVEMENTS WITH DEL CAMINO CENTER PARTNERS
WHEREAS, the Board of County Commissioners of Weld County,
Colorado, pursuant to Colorado statute and the Weld County Home
Rule Charter, is vested with the authority of administering the
affairs of Weld County, Colorado, and
WHEREAS, the Board has been presented with an Improvements
Agreement According to Policy Regarding Collateral for
Improvements between Weld County and Del Camino Center Partners,
and
WHEREAS, the terms and conditions are as stated in said
Agreement, a copy of which is attached hereto and incorporated
herein by reference, and
WHEREAS, after review, the Board deems it advisable to
approve said Agreement.
NOW, THEREFORE, BE IT RESOLVED by the Board of County
Commissioners of Weld County, Colorado, that the Improvements
Agreement According to Policy Regarding Collateral for
Improvements between Weld County and Del Camino Center Partners
be, and hereby is, approved.
BE IT FURTHER RESOLVED by the Board that the Chairman be, and
hereby is, authorized to sign said Agreement.
The above and foregoing Resolution was, on motion duly made
and seconded, adopted by the following vote on the 31st day of
July, A.D. , 1989 .
BOARD OF COUNTY COMMISSIONERS
ATTEST: WELD COUNTY, COLORADO
Weld County Clerk and Recorder e7eX
and Clerk to the Board C. Kirby, Cha rman
BY: 071c ,Lv: (72cl- , thoTem
ounty Cl kAPPROVED AS TO FORM: rAntner
George Ke d
County Attorney
Gordon
Pi 47/0?S- 890821
A72'187558
IMPROVEMENTS AGREEMENT ACCORDING
POLICY REGARDING COLLATERAL FOR IMPROVEMENTS
THIS AGREEMENT, made and entered into this 31stday of July
1989 , by and between the County of Weld, State of Colorado, acting through
its Board of County Commissioners, hereinafter called "County", and
DEL CAMINO CENTER PARTNERS 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:
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WHEREAS, a final subdivision plat of said property, to be known as tun
DEL CA[NINO CENTER P.17.D.
has been submitted to the County for approval; and y m
WHEREAS, Section 11-1 of the Weld County Subdivision Regulations z o
provides that no final plat shall be approved by the County until the r: co
Applicant has submitted a Subdivision Improvement Agreement guaranteeing the t=;
construction of the public improvements shown on plans. plats and supporting • as
documents of the subdivision, which improvements, along with a time schedule
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for completion, are listed in Exhibits "A" and "B" of this Agreement,
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NOW, THEREFORE, IN CONSIDERATION OF the foregoing and of the acceptance x
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and approval of said final plat, the parties hereto promise, covenant and trj
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agree as follows:
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1.0 Engineering, Services: Applicant shall furnish, at its own expense, all d
engineering services in connection with the design and construction of 8
the subdivision improvements listed on Exhibit "A" which is attached a
hereto and made a part hereof by this reference, o
1.1 The required engineering services shall be performed by a
Professional Engineer and Land Surveyor registered in the State of
Colorado, and shall conform to the standards and criteria
established by the County for public improvements.
1.2 The required engineering services shall consist of, but not be
limited to, surveys, designs, plans and profiles, estimates,
construction supervision, and the submission of necessary
documents to the County.
1.3 Applicant shall furnish drawings and cost estimates for roads
within the subdivision to the County for approval prior to the
letting of any construction contract. Before acceptance of the
roads within the subdivision 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-Wav and Easements: Before commencing the construction of any
improvements herein agreed upon. Applicant shall acquire, at its own
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JUL 26 '89 08:40 NEENAN CO. FT C
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expense, good and sufficient rights-of-way and easements on all lands uW, o
and facilities traversed by the proposed improvements. All such xf
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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 N
documents of conveyance shall be furnished to the County for recording. z J
3.0 Construction: Applicant shall furnish and install, at its owu expense, tr cn
and
the subdivision improvements listed on Exhibit "A" which is _attached
hereto and made . a. part hereof by. this reference, according to the y m
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construction schedule set out in Exhibit "B" also attached hereto and z o
made a part hereof by this reference. r: co
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3.1 Said construction shall be in strict conformance to the plans and Vj
drawings approved by the County and the specifications adopted by x
the County for such public improvements. Whenever a subdivision �y
is proposed within three miles of an incorporated community C
located in Weld County or located in any adjacent county, the o
Applicant shall be required to install improvements in accordance w 0
with the requirements and standards that would exist if the plat g o
were developed within the corporate limits of that community. If O
the incorporated community has not adopted such requirements and o N
standards at the time the subdivision is proposed, the o
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requirements and standards of the County shall be adhered to. If O
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 Kr
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 2
right to test and inspect or to require testing and inspection of
material and work at Applicant's expense A Any material or work
not conforming to the approved plane and specifications shall be
removed and replaced to the satisfaction of the County at
Applicant's expense.
3.4 The Applicant shall furnish proof that proper arrangements have
been made for the installation of sanitary sewer or septic
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systems, water, gas, electric and telephone services.
3.5 Said subdivision 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 lone 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
$9821
construction of improvements, and pay any and all judgments rendered
against the County on account of any such suit, action or claim,
JUL 26 '89 08:41 NEENRN CO. FT C 840 PO6/O7
together with all xeeronable 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 county
yr its officers, agents, employees or otherwise except for the '
liability, lose, or damage arising from the intentional torts or the Lt :tLt N
trots. negligence of the county or its employees while acting within the O o
scope of their employment. All contractors and other employees engnged
in conatruttion. of the improvements shall maintain adeyuatn workman's '.
compensation insurance , and public liability insurance covernge, and z
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shall operate in strict. accordance with the laws and regulations of the ,�
State of Colorado governing occupational safety and health. Nth
5. 0 Incorporation of Provision of Road_ zmurovement and Maintenance o
• Agreement:
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Provisions A.1.
through A.7. are hereby incorporated by this z
reference as ,is, Set forth herein.
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with a following procedures. by the Applichnt, streets within a
subdivieion`ma. be accepted by the County as a part of the County road •
system and will be ntained and repaired by the County;
4.1 If desired by the Co , portions of street improvements may be
-placed in service when comity d according to the _schedule shown
on Exhibit "B", but such use and ope on shall not constitute an
acceptance of said -portions,
4,2 County may, at ito option, issue building permlte'-rar`conetruction
on lots for which etroat improvement, detailed herein i
been
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o the subdivision improvements in that phase -of the development
is s tisfactory to the County; and all terms of this Agreement
have be faithfully dcept by Applicant.
6.3 _Upon cos etion of the construction sf streets -within a
subdivision nd the filing -of s Statement of Substantial
Compliance, the applicant(s) may request in writing that the
County Engineer i pect its streets and recommend that the Board
of County Commiasione a partial t them for esintenance by the
County. Partial maint ante consists of all maintenance except w a
for actual , repair of aC ate, curbs ,and co O
gutters, and -related T
-street improvements. . Not too r than nine months after acceptance w
for partial. unaintenanc-e of str eta, the County _Engineer sha11,
upon request by the applicant, in ect the subject streets, and z o~o
notify the applicant(s) of any defic eciee. The County Engineer '�
shall re-inspect the streets atter notification from the Ci
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applicant(s) that any deficiencies have b n corrected. If the m o
County Engineer finds that the streets are c natructed according y
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to County standards, he shall recommend accepter, a of streets for n cc
full maintenance. Upon a . receipt of a posits a unqualified t", 1/4°
recommendation from the County Engineer for acceptant of streets x r,
within the development, the Board of County Commission a shall k'
-accept said streets as public facilities and County proper and m
shall be responsible for the _full maintenance of said atr to
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7.0 General Requirements for Collaterali O
7. 1 The value of all collateral submitted to Weld County must be t`' o
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Equivalent to 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 he prefers to be r
utilized to secure the improvements subject to final approval by
the Board of County Commissioners and the execution of this
Agreement. Acceptable collateral shall be submitted and the plat
recorded within six (6) months of the. Final Plat approval. If
acceptable collateral has not been submitted within six (6) months
then the Final Plat approval and all preliminary approvals shall
automatically expire. An applicant may request that, the County
extend the Final Plat approval provided the cost estimates are
updated and the development plane are revised , to comply with all
current County standards, policies and regulations. The
improvements shall be completed within one (1) year after the
-Final Plat approval (not one year after acceptable collateral is
submitted) unless the applicant(s) requests that this Agreement' be
renewed at least thirty (30) days -prior to its expiration and
further provides that . cost _estimates for the remaining
improvements are updated and collateral is provided in the amount
of 100% of the value of the improvements remaining to be
completed. If improvements are not completed and the agreesent
not -renewed within these time frames, the County, at its
5 890821
1-14 HH
discretion, may make demand -on all or a portion of the collateral
and take ntept to see that the improvements are made.
7.2 The applicant may choose to provide for a phased development by
means of designating -portions of a _Planned Unit Development,
Subdivision, or Change of Zone, that the applicant wishes to
develop. The applicant would need only to provide collateral for
the improvements in each portion of said Planned Unit Development,
Subdivision, nr Change of Zone as he -proposes to develop them; the M m
County will place restrictions on those portions of the Planned 2r,
Unit Development, Subdivision, or Change of Zone, which are not t°,'
coveted ty collateral which will prohibit the conveyance of the
property or the issuance of building permits on said -portions I-4
until collateral is provided for those portions or until
improvements are An place and approved z °J
PP -pursuant to the
requirements for a Request for Release of Collateral.
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7.3 Applicant intends to develop in Onet
phase(s) in accordance � o
with Exhibits "A" and "I", y
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9.0 Improvements Guarantee: The five types of collateral listed below are Z
acceptable to Weld County subject to final approval $y the -Board of
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County Commissioners.
8.1 An irrevocable Letter of Credit from a Federal or State licensed ft,
financial institution on a form approved by Weld -County. The Pia
letter of credit shall state at least the following: tr
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The Letter of Credit shall be in an amount equivalent of 100% 0
of the total value of the improvements as set forth in a
Section 6.0 and exhibits "A" and "Ii". tt o
The Letter of -Credit shall provide for payment upon -demand to C7
Weld County if the developer tas not performed the p o,
obligations specified in the Improvements Agreement and the o
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issuer has been notified of such default. o�
The applicant may draw from the Letter of Credit in
accordance with the provisions of this policy. •
The _issuer of the Letter of _Credit shall guarantee that at
all times the unreleased portion of the Letter of Credit .
shall be equal to a minimum of 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 ease shall disbursement for a general _ .
improvement item exceed the cost estimate in the Improvements
Agreement (i.e. , streets, sewers, water mains end
landscaping, etc.) . The issuer of the -Letter of Credit will
sign the Improvements Agreement acknowledging the agreement
and its cost estimates. •
The Letter of Credit shall specify that 15% of the total
Letter of Credit amount cannot be drawn upon and will remain
available to Weld County until released by Weld County.
— 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 o₹ the final 15%, or one year from
6 890821
JUL 26 '89 08:55 NEENRN Co. FT C 842 PO4/08
the date of Final Plat approval, -whichever occurs first.
Said letter shall stipulate that, to any event, the Letter of
Credit shall remain in full forte 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 =ail to the Clerk to
the Doard of iaunty Commissioners.
M.2 Trust Deed upon all -or some -of the proposed development or other - N
property acceptable to the.-Board of County Commissioners provided O o
that the following are submitted: i5tt
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- In the event property within the proposed development 1s used 4-e O
as collateral, an appraisal is -required of the property in m
the proposed development by a disinterested M.A.I. member of N :31
the American institute of Real Estate Appraisers indicating G m
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that the value of the property encumbered in its _current O
degree of development is sufficient to cover 100% of the cost yriO3
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of the improvements as set forth -in the Improvements z
Agreement plus all costs of sale of the property. r: Lo
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In the event property other than the property to be developed
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has been accepted as collateral by Weld County, then an e,
appraisal is required of the property by a 1I.A.I. member of t rn
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the Institute of Real -Estate Appraisers indicating that the p
value of the property encumbered in its current state of o y,
development is sufficient to cover 1O0% of the cost of the F
improvements as set forth in the Improvements Agreement plus t o
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all costs of sale of the property. o
A title insurance policy insuring that the Trust weed creates o -
a valid encumbrance -which is senior to all other liens and r,o
encumbrances. ~
- A building permit hold shall be p1-aced on the encumbered
property.
8.3 Escrow Agreement that provides at least the following:
- The cash in escrow is at least equal to 100% of the amount
specified in the Improvements Agreement.
— 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 mot release any portion of such
funds _without prior approval of the Board.
— "1'he -escrow -agent will be a Federal or State licensed bank or
financial institution.
- If the County of Weld County determines there ie 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 ty a corporate surety authorized to do
business in the State of Colorado in an amount equivalent to 100%
of the value of the improvements as specified in the Improvements
Agreement. 890821
JUL 26 '89 08:56 NEENAN CO. FT C 842 P05/08
8.5 A -cash deposit made with the County equivalent to 1002 of the
value -0f the improvements.
9.D Request for Release of Collateral: Prior to release of collateral for
the entire project or for a portion of the project ty Weld -County, the
Applicant must present a Statement of substantial Compliance from an
Engineer registered in Colorado that the project sr a portion of the
project has been completed in substantial compliance with approved
plans and epecificatious -documenting the following:
9.1 The Engineer • or his representative has made regular on-site ""
inspections during the course of conssruction and the construction a am
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plans utilized are the same -as those approved by• Weld County. ezi
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9.-2 'fest results must be submitted -for ell phases of this project as 5 to
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per Colorado _Department of Highway schedule for minimum materials '< O
sampling, testing ant inspections found in -MOH Materials Manual. -
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9.3 "As built" plans shall be submitted at the time the settercn
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_requesting release of collateral is submitted. The Engineer shall te co
certify that the project "as built" is in substantial compliance z
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with the plans and specifications as approved or that any material m
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deviations have received prior approval from the County 'Engineer.
9.-4 The Statements of Substantial Compliance must be accompanied, if r ip
appropriate, by a letter -af acceptance of maintenance and x H
responsibility by the appropriate utility company, special , p
district or town Toren), utilities. z
9.3 -A getter must be submitted from the appropriate Fire Authority p
Indicating the fire hydrants are in place in -accordance with the as
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approved plans. The letter shall _indicate if the fire hydrants -j-F)
are operational and state the results of fire flow tests. e, o
9.6 The requirements in 8.0 thru 5.5 shall be noted on the final t7
tonstrustion plane. n
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9.1 -Following the submittal of the Statement of Substantial .Complianceo
and recommendation of acceptance of the streets for partial
maintenance by the County, the epplicant(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 10% 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 she Board of -County Commissioners for full
maintenance.
10.0 Public Sites and -Open Spaces: When the Board of County Commissioners,
pursuant to a rezoning, subdivision or planned unit development,
requires the d-edication, _development and/or reservation of areas or
s sites other than subdivision streets and utility easements of a
890821 character, extent and location suitable for public use for -packs,
greenbelts or schools, said actions shall be secured in accordance
JUL 25 '89 08;57 NEENRN CO. FT C 842 P06/08
with one of the following alternatives, or as specified In the PUD plan, if
any:
10.1 The required acreage as may be determined according to Section
8-15-8 of the -Weld County Subdivision Regulations shall be
dedicated to the County or the appropriate school :district, for
one of the above purposes. Any area so dedicated shall be
approved by the County or school district, and shall be maintained
by the County or school district.
19.2 The required acreage as determined according to Section R. IE of -o
the Weld County Subdivision Regulations may be reserved through N o
deed restrictions -as open -area, ,the maintenance of which shall be -,y
a epecifi-c obligation 3a the deed of each lot -within the w n'
subdivision.
10.3 In lieu of land, the County m ay require a payment to the County in o0
an _amount equal to the -market value at the time of final plat m
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submission of the required acreage as determined according to
Section 8-15-B. Such value shall he metermined $y $ competent y m
• land
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appraiser chosen jointly by the Board and the Applicant. The cash r:m
collected shall he deposited in an escrow account to be expended m
for parks at a later data. N
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 z
covenant running with the land herein :describer, and shall be binding o
upnu the successors in ownership of said land. o
IN -WITNESS WHEREOF, the parties hereto have caused this Agreement to be b
executed on the day end year first above . written. •
BOARD OF COUNTY COMIIISSIONERSOLD
WELD COUNTY, COLORADO C,
Epateuitr,
Al K
Weld-County C erk and Recorder^ v' *.J
and Clerk to '`the Bo rd -, /
BY: 777e?../. .:: ✓
Deput Cou ty -Clerk ,
APPROVED AB TO FORM:
aunty Attorney
APPL T:
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a BY: ,6,71
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Subscrib;d mid swarn to before me this a4,`,Aday -of << / , 1g/1.
My commitsig relpires: ld _ /- 9/
R90821. - Notary Public ,03
JUL 26 '89 08:57 NEENRN CO. FT C 842 P07/08
•
EXHIBIT "A"
Name of Subdivision: Del Camino Center P.U.D.
Filing: No. J.
Location: NN7.o,, .SPrfinn 14, m2n1. -PAAGT of rho tith A M Walr1 rn»nty, M1nrnAn
Intending to be legally bound, the undersigned Applicant hereby agrees
to provide throughout this subdivision and as shown on the subdivision -final ▪ t°
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plat dated -, 19 , recorded on at. N
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19 , in _Book . Page No. , Reception No. . the CO o
following improvements. P.
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(Leave spaces blank where they do not apply.) z
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Estimated
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Improvements Unit _Cost Constrnction 'Cost c m
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Street grading 3,630 c.y. $ 2.50 $ 9,075 s m Street base 10" 3,5D0 s.y. $ 4.25 $14,875 H o
Street paving 3" 3,500 s.y. $ 4.50 $15.75Q z
Curbs. T;utteta, and -culverts 1 ea. $18.OD $ 1.800 n m
Sidewalks n/a r
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Storm Sewer facilities n/a x
Retention ponds n/a
Ditch improvements $ L 6Q0 R
Sub-surface drainage n/a m n
Sanitary sewers
Trunk and Tatted lines n/a o
Mains x
Laterals arouse corn) n/a � �'
n/A .h1 0
On-site Sewage facilities �e o
On-sits -Water supply and storage �; o
Water mains O
Fire hydrants
n/a Survey £ street monuments & boxes 9 0
Street lighting n/aa
Street name signs fai r
Fencing requirements n/a OHA
tandscapitg n/a
Park improvements a
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sale
SUBTOTAL S4\ 1nn
Engineering and Supervision Costs $S,800.00 .
(testing, inspection, ae iiuilt plans and work in addition to preliminary and
final plat; supervision of actual construction by contractors)
TOTAL ESTIMATED COST OF IMPROVEMENTS AND SUPERVISION 4 51 q(1(1 no
37The above improvements shall be' -constructed in accordance w19 2h3.lO
all 'County
requirements and specif i-c-ationn, and conformance with this provision shall be
determined solely by Weld County, or its duly authorized agent.
Said improvements shall be completed ac t the „construction schedule
set out in :Exhibit "B". ,�ri �/
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Signature of Applicant
(If -corporation, to be signed by President end attested to by Secretary,
together with _corporate seal.)
Date: . 19
890821
EXHIBIT "B"
Refer to A. 7 in the Road Improvements and Maintenance Agreement
Dated July 26, 1989.
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