HomeMy WebLinkAbout920301.tiff AR2293387
RESOLUTION
RE: APPROVE SUBDIVISION IMPROVEMENTS AGREEMENT FOR PHASE 1 AND ACCEPT FORM OF
COLLATERAL - HARRISON RESOURCE CORPORATION
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, by Resolution dated March 25, 1992, the Board granted Final PUD
Plan approval, Planning case number S-319, to Harrison Resource Corporation, and
WHEREAS, as a condition of that approval, the Board is hereby presented
with an improvements agreement for phase 1, requiring collateral of TWENTY-ONE
THOUSAND, NINE HUNDRED THIRTY-SIX AND NO DOLLARS ($21,936.00) , and
WHEREAS, the Board has also been presented with the form of a Letter of
Credit from First Interstate Bank of Fort Collins, Colorado, and
WHEREAS, the Board deems it advisable to approve said improvements
agreement, as well as accept the form of the collateral presented.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld
County, Colorado, that the Subdivision Improvements Agreement for Phase 1
regarding Final PUD Plan approval with Harrison Resource Corporation be, and
hereby is, approved.
BE IT FURTHER RESOLVED by the Board that the form of collateral presented
as a Letter of Credit from First Interstate Bank of Fort Collins, Colorado be,
and hereby is, approved as collateral for said agreement.
The above and foregoing Resolution was, on motion duly made and seconded,
adopted by the following vote on the 30th day of March, A.D. , 1992.
/((���� /�� BOARD OF COUNTY COMMISSIONERS
ATTEST: /IY thei, WELD C UNTY, COLORADO
Weld County Clerk to the Board
J eoorrr� Ke edy, Chairman _i/
BYr frLr�+s�` S viCYi 'i�r�rJ /7YZ
;93`eputy Cie to the Board Constance L. Harb rt, Pro-Tem
APPROVED AS ORM: W.
/ /�/
C. W. Kirby
ounty Attor6t Gordon y A
W. H. Webster
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F 0606 MARY ANN FEUERSTEIN CLERK & RECORDER WELD CO, CO 920301
�� ; ��� Fa. (c +- ) , TIPP
S'��. O7 _
Filing 1 , Phase 1
..,PROVEMENTS AGREEMENT ACCORDING
POLICY REGARDING COLLATERAL FOR IMPROVEMENTS
•THIS AGREEMENT, made and entered into this -- day of March
1992 , by and between the County of Weld, State of Colorado, acting through
its Board of County Commissioners, hereinafter called "County", and
Harrison Resource Corporation hereinafter called
"Applicant".
WITNESSETII:
WHEREAS, Applicant is the owner of or has a controlling interest in the
following described property in the County of Weld, Colorado:
Lots 1, 2, 3, 4, and 5, of Case Number S-319, First Filing, located in a
portion of the NE 1/4 of Section 5, Township 6 North, Range 67 West of the
6th P.M.
WHEREAS, a final subdivision plat of said property, to be known as
Valley View Ranch
has been submitted to the County for approval; and
WHEREAS, Section 11-1 of the Weld County Subdivision Regulations
provides that no final plat shall be approved by the County until the
Applicant has submitted a Subdivision improvement Agreement guaranteeing the
construction of the public improvements shown on plans, plate and supporting
documents of the subdivision, 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 improvements listed on Exhibit "A" which is attached
hereto and made a part hereof by thin reference.
1 .1 The required engineering services shall be performed by a
Professional Engineer and Land Surveyor registered in the State of
Colorado, and shall conform to the standards and criteria
established by the County for public improvements.
1 .2 The required engineering services shall consist of, but not be
limited to, surveys, designs, plans and profiles, estimates,
construction supervision, and the submission of necessary
documents to the County.
1 .3 Applicant shall furnish drawings and cost estimates for roads
within the subdivision 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 shell
furnish one set of reproducible "as-built" drawings and a final
statement of construction cost to the County.
7.0 Rights-of-Way and Easements: Before commencing the construction of any
improvements herein agreed upon, Applicant shall acquire, at its own
' a
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F 0607 MARY ANN FEUERSTEIN CLERK & RECORDER WELD CO, CO
expense, good and sufficient rights-of-way and easements on all lands
and facilities traversed by the proposed improvements. All such
rights-of-way and easements used for the construction of roads to be
accepted by the County shall be conveyed to the County and the
documents of conveyance shall be furnished to the County for recording.
3.0 Construction: Applicant shall furnish and install, at its own expense,
the subdivision improvements listed on Exhibit "A" which is attached
hereto and made a part hereof by this reference, according to the
construction schedule set out in Exhibit "R" also attached hereto and
made a part hereof by this reference.
3. 1 Said construction shall he in strict conformance to the plans and
drawings approved by the County and the specifications adopted by
the County for such public improvements. lihenever a oubdivioiun
is propoaaA ulrt
INITI L
J�p{+1-1-east ohall be required to inotall iaprovcmontn in accordant.: J
with the requirement° and °tenderda that would exLot if the plab
-the--incorporated community- hno not -adopted ouch requirement° and.
—etanderda et the time the nubdivioion lo proposed, thr,
r-equirerent° and otondordo of the County-shall be adhered to-v--A-f+
bath the incorporated community and the County have requirement°•
and otandardo, those requirement° aw.L—ntandarde that are nary
rcntriotLvs °hall apply..
3.7 Applicant shall employ, at its own expense, a qualified testing
company previously approved by the County to perform all testing
of materials or construction that is required by the County; and
shall furnish copies of test results to the County.
3.3 At all times during said construction, the County shall have the
right to test and inspect or to require testing and inspection of
material and work at Applicant' s expense. Any material or work
not conforming to the approved 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
(ill,
been made for the installation of oonitory °euar or peptic•
oyotcme, water, gwa., electric and telephone services.
3.5 Said subdivision improvements shell be completed, according to the
terns 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 Fxhibit "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 ell 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 nil judgments rendered
acrinat the County on account of any such suit, action or claim,
2
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together with all reasonable expenses and attorney fees incurred by
County in defending such suit, action or claim whether the liability,
loss or damage is caused by, or arises out of the negligence of county
or itu 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 improvementu shall maintain adequate workman' s
compensation insurance and public liability insurance coverage, and
shall operate in strict accordance with the laws and regulations of the
Slate of Colorado governing occupational safety and health.
5.0
applicant , or owner may be reimbursed for off-site road improvement as
provided in this section when it has been determined by the Boa d of
County Commissioners that the road facilities providing access to the
subdivision are nut adequate in structural capacity, w dth, or
functional classification to support the traffic requireme to of the "'
pees of the subdivision.
5. 1 The subdivider, applicant, or owner shall enter in an off'-site
improvements agreement prior to recording the fin plat when the
subdivider, applicant , or owner expects to rec ve reimbursement,
for part of the coot of the off-site improveme s.
5.2 The off-site improvements agreement shall c twin the following:.
- The legal description of the property be served.
The name of the owner(s) of the prop ty to be served.
- A description of the off-site impro emonta to be completed by
the subdivider, applicant , or own r.
- The total. cost of the off-site. provements.
- The total vehicular trips to b generated at build-out by the
subdivision, or resubdiviai , as specified by the ITF. Trip
Generation Manual, or by a ecial study approved by the Board
of County Commissioners.
- A time period for con etion of the off-site improvements.
- The terms of reimburs ment.
- The current address f the person to be reimbursed during the
term of the agree nt.
- Any off-site provements agreement shall be made in
conformance wi h the Weld County policy on collateral for
improvements
5.3 If the subdivid r, applicant, or owner fails to comply with the
improvements reement, the opportunity to obtain reimbursement
under this s ction is forfeited.
5.4 When it is determined by the Board of County Commissioners that
vehicular traffic from a subdivision or reaubdivision will use a
road i rovement constructed under an improvement agreement, the
subse ent subdivider, applicant , or owner shall reimburse the
orip nal subdivider, applicant , or owner, for a portion of the
or ginal construction cost. In no event shall the original
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total trip impacts generated by the original developme t .
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 rior to
recording the final subdivision or resubdivision plat. INITIAL
5.5 The amount of road improvement cost to be paid by th subsequent
subdivider, applicant , or owner of a subdivision or esubdivision
using the road improvements constructed under a pr or improvement
agreement will be based upon a pro rate share o the total trip
impacts associated with the number and type of welling units and
square footage and type of nonresidential dev opments intended to
use the road improvement . The amount of oad improvement cost
shell also consider inflation as measured by the changes in the
Colorado Construction Coat Index used by the Colorado Division of
Highways. The cost of road improve ants may be paid by cash
contribution to the prior subdivide , applicant or owner or by
further road improvements which nefit the prior subdivider,
applicant, or owner' s property. This decision shall he at the
sole discretion of the Board o County Commissioners based upon
the need for further off-site oad improvements.
5.6 The report entitled TRIP ENERATIOH (Third Edition, 1982) of
the institute of Transpor Lion Engineers shall normally be used
for calculating a tea onable pro rata share of the road
improvement construct on coots for all subdivisions or
retubdivisions. A ep cia] transportation study shall be used for
land uses not lint d in the ITE Trip Generation Manual. Any
question about th number of trips a subdivision or resubdivision
will generate sh 1 be decided by the County Engineer.
5.7 The term for wl ch the subdivider, applicant , or owner is entitled
to reimburs ent under the off-site improvements agreement ,
entered int between the subdivider and the county, is ten years
from the ate of execution of a contract for road improvements.
5.8 This pr vision is not intended to create any cause of action
ageing Weld County or its officers or employees by any
subd vider, applicant , or owner for reimbursement, and in no way
is eld County to be considered a guarantor of the monies to be
6.0 Ieacpta
with the following procedures by the Applicant, streets in a
subdivision may be accepted by the County as a part of County road IN TIAL
syster and will be maintained and repaired by the nty.
6. 1 If desired by the County, portions of reet improvements muy be
placed in service when complete ccording to the schedule shown
on Exhibit "B", but such u and operation shall not constitute an
acceptance of said tions.
6.2 County may, a to option, issue building permits for construction
on lot or which street improvements detailed herein have been
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on the subdivision improvements in that phase of the develo ent
is satisfactory to the County; and all terms of this A cement
have been faithfully kept by Applicant.
6.3 Upon completion of the construction of street within a
subdivision and the filing of a Statement Substantial
Compliance, the applicant(e) may request in citing that the INITIAL
County Engineer inspect its streets and recd end that the Board
of County Commissioners accept them for par al maintenance by the
County. Partial maintenance consists all maintenance except
for actual repair of streets, curb and gutters, and related
street improvements.. Not sooner th nine months after acceptance
for partial maintenance of atr ts, the County Engineer shall ,
upon request by the applicnn , inspect the subject streets, and
notify the applicant(s) of ny deficiencies. The County Engineer
shall reinspect the treets after notification from the
applicant(e) that any deficiencies have been corrected. 7f the
County Engineer fi s that the streets ere constructed according
to County stands s, he shall recommend acceptance of streets for
full maintena e. Upon a receipt of a positive unqualified
recommendat n from the County Engineer for acceptance of streets
within t development , the Board of County Commissioners shall
accept said streets as public facilities and County property, and
• she he responsible for the full maintenance of said streets
7.0 General Requirements for Collateral:
7 .1 The value of all collateral submitted to Weld County must be
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
utilized to secure the improvements nuhject to final approval by
the Board of County Commissioners end the execution of thin
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 he completed within one (1) year after the
Final Plat approval (not one year after acceptable collateral is
submitted) unless the applicant(a) 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 agreement
not renewed within these time frames, the County, at its
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discretion, may make demand on all or a portion of the collateral
and take steps to see that the improvements are made.
7.2 The applicant may choose to provide for a phased development by
means of designating filings of a Planned Unit Development Plan or
Final Plat Subdivision. The applicant would need only to provide
collateral for the improvements in each filing as approved. The
County will place restrictions on those portions of the property
that are not covered by collateral which will prohibit the
conveyance of the property or the issuance of building permits
until collateral is provided or until improvements are in place
and approved pursuant to the requirements for a Request for
Release of Collateral.
7.3 The applicant intends to develop in accordance with Exhibits "A"
and "B".
8.0 Improvements Guarantee: The five types of collateral listed below are
acceptable to Weld County subject to 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:
The Letter of Credit shall be in an amount equivalent of 100%
of the total value of the improvements as set forth in
Section 6.0 and exhibits "A" and "R".
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 ouch default.
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 1001 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.
- 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 of the final 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
�
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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.
R.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:
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 H.A.I. member of
the American Institute of Real Estate Appraisers indicating
that the value' of the property encumbered in its current
degree of development is sufficient to cover 100% of the cost
of the improvements as set forth in the Improvements
Agreement plus all costs of sale of the property.
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 H.A.I. member of
the Institute of Real Estate Appraisers indicating that the
value of the property encumbered in its current state of
development is sufficient to cover 100% of the coat of the
improvements as set forth in the Improvements Agreement plus
all costs of sale of the property.
- A title insurance policy insuring that the Trust Deed creates
a valid encumbrance which is senior to all other liens and
encumbranceo.
- A building permit hold shall be placed 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 guaranreen 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 Board.
- The escrow agent will be a Federal or State licensed bank or
financial institution.
- If the County of Weld County determines there is a default of
the Improvements Agreement, the escrow agent, upon request by
the County, ohell 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 100% of
the value of the improvements as specified in the Improvements
Agreement .
0.5 A cash deposit made with the County equivalent to 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
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Applicant must present a Statement of Substantial Compliance from an
Engineer registered in Colorado that the project or a portion of the
project has been completed in substantial compliance with approved
plans and specifications documenting the following:
9.1 The Engineer or his representative has made regular on-site
Inspections during the course of construction and the construction
plans utilized are the same as those approved by Weld County.
9.2 Test results must he submitted for all phases of this project as
per Colorado Department of Highway Schedule for minimum materials
sampling, testing and inspections found in CDOH 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 plena 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 1n accordance with the
approved plans. The letter shall indicate if the fire hydrants
are operational and state the results of fire flow testa.
9.6 The requirements in 8.0 thru 8.5 shell 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 fm.*..partial.
measteneximien the applicant(a) may request release of Iran
the collateral for the project or portion of the project by the c
Board. This action will be taken nt 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 lox of the value of the
improvements as shown in thin Agreement excluding Improvements
fully accepted for maintenance by the responsible governmentaL,: -
entity, special district or utility company.
9.9 The warranty collateral shall be relenued to the applicant upon INITIAL
fine] acceptance by the Board of County Commissioners for fall.
raj-irt naiice.stutter $a in.
10.0 Public Sites and Open Spaceo: Ilhen the Beat�ef—Ge
pursuant to a rezoning, subdivision or planned u • evelopment , IMF AL
requires the dedication, development en reservation of areas or c\�
sites other than eubdivis streets and utility easements of a
character, a and location suitable for public use for parks,
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any:
10. 1 The required acreage as may be determined according to . action
8-15-R of the Weld County Subdivinion Regulations shall be INITIAL
dedicated to the County or the appropriate school lstrict, for A,
one of the above purposes. Any urea so de sated shall be •
approved by the County or school district, an shall be maintained
by /he County or school district.
10.2 The required acreage as determined acs ding to Section 8-15-R of
the Weld County Subdivision Regula one may be reserved through
deed restrictions as open area, a maintenance of which shall be
a specific obligation in a deed of each lot within the
subdivision.
10.3 In lieu of land, the C my may require a payment to the County in
an amount equal to the market value at the time of final plat
submission of a required acreage as determined according to
Section 8-15- . Such value shall be determined by a competent
land
apprai r chosen jointly by the Board and the Applicant . The cash
col cted shall be deposited in an escrow account to he expended
11 .0 Successors and Assigns: This Agreement shall he binding upon the
heirs, executors, personal representatives, successors end assigns of
the Applicant, and upon recording by the County, shall be deemed a
covenant running with the land herein described, and shall be binding
upon the successors in ownership of said land.
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to he
executed on the day and year first above written.
BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLORADO
Al
U/1/G�2 -.ATTEST: -
Lildi
��
Veld County OW //q .
Clerk to the Bo d
BY: _ - i1
eputy Jerk
A PROVED A TO FORK:
C unty Attorney
A • CA. .. on Resource Corporation
Attest:�A) yh%I4 �� BY: Crai4 Harrison, President _
�y1 (titl Je
Guhsrrihed and sworn to before me this��O "' day of /rj,Utv4, 1994
My commission expires: L?- 7-Q5 — .
d D �
Note Public
a
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EXHIBIT "A"
Name of Subdivision: Valley View Ranch
Filing: 1 , Phase 1 , Lots 1 , 2, 3, 4, and 5 _
Location: At Intersection of Highway #257 and Weld County Road #74
Intending to be legally hound, the undersigned Applicant hereby agrees
to provide throughout this subdivision and as shown on the subdivision final
plat dated , 19 , recorded on
19 , in Book , Page No. , Reception No. , the
following improvements.
(Leave spaces blank where they do not apply.)
Estimated
Improvements Unit Cost Construction Coat
Street grading Yes --
street base Yes $8,[Zb.00
Street paving None
Curbs, gutters, and culverts Yes $1 ,210.00
Sidewalk None
Sturm sewer facilities None
Retention ponds - None
Ditch improvements _ None - _
Subsurface drainage None
Sanitary sewers None _
Trunk and forced lines None —_
Mains _ None
Laterals (house connected) None _
On-site sewage facilities By Lot Owners
On-site water supply and storage Yes
Hater mains Yes 14,400.00
Fire hydrants Yes $2,800.00
Survel 6 street monuments 6 boxes Yes (Completed prior to final )
Street lighting _ None
Street name signs Yes . $ 300.00
Fencing requirements By Lot Owners
Landscaping Yes _ $3,500.00_
Park improvements None
SUB-TOTAL.
Engineering and Supervision Costs $1,500.00__
(testing, inspection, as-built plans and work in addition to preliminary and
final plat; supervision of actual construction by contractors)
TOTA1. ESTIMATED COST OF IMPROVEMENTS AND SUPERVISION $ 21 ,936.00 -_
The above improvements shall be constructed in accordance with all County
requirements and specifications, and conformance with this provision shall be
determined solely by Weld County, or its duly authorized agent.
Said improvements shall be completed according t construction schedule
set out in Exhibit "B". HARR CORPORATION
ecretary Attest B pplicent
by Craig Harrison, President
(If corporation, to be signed by President and attested to by Secretary,
together with corporate seal.)
Date: December 26 , 1991 .
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EXHIBIT "B"
•
Name of Subdivision: Valley View Ranch
Filing: 1 , Phase 1 , Lots 1 , 2, 3, 4, ani1. 5
Location: At Intersection of Highway #757 and Weld County Road #74
Intending to be legally bound, the undersigned Applicant hereby agrees to
construct the improvements shown on the final subdivision plat of
Valley View Ranch Subdivision,
dated , 19 , Recorded on , 19_,
in Book , Page No. , Reception No. , the following
schedule.
All improvements shall be completed within _ years from the date of
approval of the final plat.
Construction of the improvements listed in Exhibit "A" shall be completed
AS follows:
(Leave spaces blank where they do not apply.)
Improvements Time for Completion
Street grading Yes March 1994
Street base Yes March 1994
Street paving None _
Curbs, gutters, and culverts March 1994
Sidewalk None -
Storm rower facilities _ None
Retention ponds None
Ditch improvements None
Subsurface drainage None
Sunitary. sewers _ None
Trunk and forced lines None
Heins None
Laterals (house connected) _. None
-
Oo-nite sewage facilities By Lot Owners
On-site water supply and storage Yes March 1994
Water mains _ Yes March 1994
Fire hydrants Yes March 1994 _
Survey 6 street monuments & boxes Yes -
Street lighting _ None
Street name signs Yes March 1994
Fencing requirements By Lot Owners
Landscaping Yes ._ March 1994
Park improvements None
SUB-TOTAL
The County, at its option, and upon the request by the Applicant, may grant
an extension of tine for completion for any par • e' improvements shown
above, upon a showing by the Applicant that a chedule cannot be met.
re of. Applicant
Harrison Resource Corporation
Attest S az--tAl 2/K. by Craig Harrison, President
(If corporation, to be signed by President and attested to by Secretary,
together with corporate seal.)
Date: 19
B 1341 REC 02293387 06/26/92 12 :21 $0 . 00 12/016
F 0617 MARY ANN FEUERSTEIN CLERK & RECORDER WELD CO, CO
Filing 1, Phase 1
IMPROVEMENTS AGREEMENT ACCORDING
AR23t1II351 POLICY REGARDING COLLATERAL FOR IMPROVEMENTS
THIS AGREEMENT, made and entered into this 3)day of March
1992 , by and between the County of Weld, State of Colorado, acting through
„i v its Board of County Commissioners, hereinafter called "County", and
p Harrison Resource Corporation hereinafter called
"Applicant".
o 3 WITNESSETII:
o WHEREAS, Applicant is the owner of or has a controlling interest in the
"' w following described
q property in the County of Weld, Colorado:
o Lots 1, 2, 3, 4, and 5, of Case Number S-319, First Filing, located in a
N portion of the NE 1/4 of Section 5, Township 6 North, Range 67 West of the
; 'a 6th P.M.
N
01 U
CO
.-1 H
\ w
co
o a WHEREAS, a final subdivision plat of said property, to be known es
o Valley View Ranchen 44
has been submitted to the County for approval; and
z
N WHEREAS, Section 11-1 of the Weld County Subdivision Regulations
w a provides that no final plat shall be approved by the County until the
a: Applicant has submitted a Subdivision Improvement Agreement guaranteeing the
r- construction of the public improvements shown on plans, plats and supporting
,Mi N documents of the subdivision, which improvements, along with a time schedule
w [Si [or 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 improvements listed on Exhibit "A" which is attached
hereto and made a part hereof by thin reference.
1 .1 The required engineering services shall be performed by a
Professional Engineer and Land Surveyor registered in the State of
Colorado, and shall conform to the standards and criteria
established by the County for public improvements.
1 .2 The required engineering services shall consist of, but not be
limited to, surveys, designs, plans and profiles, estimates,
construction supervision, and the submission of necessary
documents to the County.
1 .3 Applicant shall furnish drawings and cost estimates for roads
within the subdivision 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.
?.0 Rights-of-Way and Easements: Before commencing the construction of any
improvements herein agreed upon, Applicant shall acquire, at its own
920301
('x o 17
expense, good and sufficient rights-of-way and easements on all lands
and facilities traversed by the proposed improvements. All such
rights-of-way and easements used for the construction of roads to be
accepted by the County shall be conveyed to the County and the
documents of conveyance shall be furnished to the County for recording.
3.0 Construction: Applicant shall furnish and install, at its own expense,
the subdivision improvements listed on Exhibit "A" which is attached
hereto and made a part hereof by thin reference, according to the
o construction schedule set out in Exhibit "R" also attached hereto and
N U made a part hereof by this reference.
3. 1 Said construction shall he in strict conformance to the plane and
0 w drawings approved by the County and the specifications adopted by
ow the County for such public improvements. Hhenovor a oubdivioion
ar Wq
is--proposed within three mile° of an incorporated - community
located in Weld County or located in any adjacent county, tho INITI L
a Applieant ohall be required to inotall ioprovcnontn in accordance
rn with the requiremento and otandordo that could exist if the plot.
o p4
N a
o' u c -incorporated community hoc not adopted ouch requirement° and•
H otandardo at thc tine the oubdivioion io proposed. the.
o u rsgu-ircrcnta and otondordo of the County ohall be adhered to. if+
both thc incorporated community and the County have rcgnlrc,acata-
�
m w and otandardo, thooc roquirenenta and at`^'-` '- •' `• "' -^"
z rentriotive °hell ripply..
o 3.? Applicant shall employ, at its own expense, a qualified testing
•
w company previously approved by the County to perform all testing
x
of materials or construction that is required by the County; and
o
HI shall furnish copies of test results to the County.
N
3.3 At all times during said construction, the County shall have the
w
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 pions 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
1N
been made for the installation of sanitary °ever or octets,
•eystese. water, °say electric and telephone services. jt
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 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
n;;alnat the County on account of any such suit, action or claim,
r-. ., i,
together with all reasonable expenses and attorney fees incurred by
County in defending such suit, action or claim whether the liability,
Inns or damage is caused by, or arises out of the negligence of county
or !tr.; officers, agentn, 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 wotkman's
compensation insurance and public liability insurance coverage, and
ri ov shall operate in strict accordance with the laws and regulations of the
State of Colorado governing occupational safety and health.
m0
• 5.0 -
W applicant, or owner may be reimbursed for off-site road improvement as
o
provided in this section when it ban been determined by the Boa d of
64• 41 County Commissioners that the road facilities providing access to the �NffIL
a C
O subdivision are nut adequate in structural capacity, v dth, or
U
N a functional classification to support the traffic requireme is of the t1•
urea of the subdivision.
.•• w
rn
a 5.1 The subdivider, applicant, or owner shall enter in an off-site
N a improvements agreement prior to recording the fin plat when the
rn o
• Z subdivider, applicant , or owner expects to rec ve reimbursement,
w for part of the cost of the off-site improveme s.
co E
o
5.2 The off-site improvements agreement shall c twin the following:_
- The legal description of the property be served.
w
m � The name of the owner(s) of the prop ty to be served.
0
M Z - A description of the off-site impro ementa to be completed by
the subdivider, applicant , or own r.
Ug
a g - The total. cost of the off-site provements.
CT - The total vehicular trips to b generated at build-out by the
Mi N, subdivision, or resubdivisi , an specified by the ITT. Trip
w w Generation Manual, or by a ecial study approved by the Board
of County Commissioners.
- A time period for cos etion of the off-site improvements.
The terms of reimburs ment.
- The current address f the person to be reimbursed during the
term of the agree nt.
- Any off-site provements agreement shall be made in
conformance wi h the Weld County policy on collateral for
improvements
5.3 If the subdivid r, applicant, or owner fella to comply with the
improvements reement, the opportunity to obtain reimbursement
under this s ction is forfeited.
5.4 When it is determined by the Board of County Commissioners that
vehicular traffic from a subdivision or resubdivision will use a
rood 1 rovement constructed under an improvement agreement, the
subse ent subdivider, applicant , or owner shall reimburse the
ori nal subdivider, applicant , or owner, for a portion of the
or ginal construction cost. In no event shall the original
3 c,e : ?n4
the L. ;l
total trip impacts generated by the original developme t .
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 rior to
recording the final subdivision or resubdivision plat. INITIAL
5.5 The amount of road improvement cost to be paid by th subsequent
subdivider, applicant , or owner of a subdivision or esubdivision
using the road improvements constructed under a pr or improvement
—J U agreement will be based upon a pro rata share o the total trip
. impacts associated with the number and type of wailing units and
a O
square footage and type of nonresidential dew opments intended to
CI
use the road improvement . The amount of oad improvement cost
o
uhell also consider inflation as measured by the changes in the
o ai
W Colorado Construction Cost Index used by the Colorado Division of
ca
pHighways. The cost of road improve ants may be paid by cash
a a contribution to the prior subdivide , applicant or owner or by
w further road improvements which nefit the prior subdivider,
rn
applicant, or owner's property. This decision shall be at the
N a sole discretion of the Board o County Commissioners based upon
o, U
z the need for further off-site oad improvements.
H H
5.6 The report entitled TRIP ENI:•RATION (Third Edition, 1982) of
a the institute of Trenspor Lion Engineers shall normally be used
for calculating a rea onable pro rata share of the road
LII
o G. improvement construct on costs for all subdivisions or
oz
N 4 reeubdivisions. A ap cinl transportation study shall be used for
Uz land uses not lint d in the ITE Trip Generation Manual. Any
a question about th number of trips a subdivision or resubdivision
will generate sh 1 be decided by the County Engineer.
rn
•i• %.O
H N 5.7 The term for wl ch the subdivider, applicant, or owner is entitled
m w to reimburs ent under the off-site improvements agreement,
entered int between the subdivider and the county, is ten years
from the ate of execution of a contract for road improvements.
5.8 This pr vision is not intended to create any cause of action
agains Held County or its officers or employees by any
subd vider, applicant, or owner for reimbursement, and in no way
is eld County to be considered a guarantor of the monies to be
6.0 _
with the following procedures by the Applicant, streets in a
subdivision may be accepted by the County as a part of County road IC,It11J
system and will be maintained and repaired by the nty.
6. 1 If desired by the County, portions of reet improvements may be
placed in service when complete ccording to the schedule shown
en Exhibit "B", but such u and operation shall not constitute an
acceptance of said tions.
6.2 County may, a to option, issue building permits for construction
on lot or which street improvements detailed herein have been
" a
�C
4 .r..3s:n.,i
on the subdivision improvements in that phase of the develo ent
is satisfactory to the County; and all terms of this A cement
have been faithfully kept by Applicant.
6.3 Upon completion of the construction of street within a
subdivision and the filing of a Statement Substantial
—4 oU Compliance, the applicant(s) may request in rating that the INITI L
County Engineer inspect its streets and reco end that the Board
u, o
U of County Commissioners accept them for par al maintenance by the
w County. Partial maintenance consists al.l maintenance except
o
o for actual repair of streets, curb and gutters, and related
o
ww street improvements. Not sooner th nine months after acceptance
pfor partial maintenance of sir ts, the County Engineer shall ,
N Uwe upon request by the applicnn , inspect the subject streets, and
d ,a notify the applicant(s) of ny deficiencies. The County Engineer
gw' shall reinspect the treets after notification from the
C'4 kl applicant(s) that any deficiencies have been corrected. If the
m
County Engineer fi n that the streets ate constructed according
co z
w to County stands s, he shall recommend acceptance of streets for
W E
a full mnintena e. Upon a receipt of a positive unqualified
recommendat n from the County Engineer for acceptance of streets
m
`^ G within t development , the Board of County Commissioners shall
0
NZ accept said streets as public facilities and County property, and
7, • she he responsible for the full maintenance of said streets
P4
wh'
r- r-1 7.0 General Requirements for Collateral:
k.c
'V 7.1 The value of all collateral submitted to Weld County must be
N
w equivalent to 1002 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
utilized to secure the improvements unhject 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 way request that the County
extend the Final Plot approval provided the cost estimates are
updated and the development plans are revised to comply with all
current County standards, policies and regulations. The
improvements shall he completed within one (1) year after the
Final Plat approval (not one year after acceptable collateral is
submitted) unless the applicant(a) 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 ie provided in the amount
of 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
5 C'r:'1?fl4
al,r g,: ,.
discretion, may make demand on all or a portion of the collateral
and take steps to see that the improvements are made.
7 .2 The applicant may choose to provide for a phased development by
means of designating filings of a Planned Unit Development Plan or
Final Plat Subdivision. The applicant would need only to provide
collateral for the improvements to each filing as approved. The.
County will place restrictions on those portions of the property
that are not covered by collateral which will prohibit the
conveyance of the property or the issuance of building permits
1/4O p until collateral is provided or until improvements are in place
V
and approved pursuant to the requirements for a Request for
o W Release of Collateral.
o
7.3 The applicant intends to develop in accordance with Exhibits "A"
o
&' q and "B".
8 8.0 Improvements Guarantee: The five types of collateral listed below are
U
w CO acceptable to Weld County subject to final approval by the Board of
en County Commissioners.
o W 8.1 An irrevocable Letter of Credit from a Federal or State licensed
rn financial institution on a form approved by Weld County. The
03Z letter of credit shall state at least the following:
CO F — The Letter of Credit shall be in an amount equivalent of 100'.
o W of the total value of the improvements as set forth in Lin w Section 6.0 and exhibits "A" and "8".
m 44
o z — The Letter of Credit shall provide for payment upon demand to
N 4 Weld County if the developer has not performed the
U a obligations specified in the Improvements Agreement and the
gissuer has been notified of ouch default.
✓ N - The applicant may draw from the Letter of Credit in
c to
• N accordance with the provisions of this policy.
w — 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 1002 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 coat 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 of the final 15Z, 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
>fl fl ,A
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:
o v — In the event property within the proposed development is used
r O as collateral, an appraisal is required of the property in
U
the proposed development by a disinterested H.A.I. member of
o w the American Institute of Real Estate Appraisers indicating
0
o z that the value of the property encumbered in its current
vkw
2 degree of development is sufficient to cover 100% of the cost
wof the improvements as set forth in the Improvements
x Agreement plus all costs of sale of the property.
o — In the event property other than the property to be developed
has been accepted as collateral by Weld County, then an
rn V appraisal is required of the property by a H.A.I. member of
00 z the Institute of Real Estate Appraisers indicating that the
co
co H value of the property encumbered in its current state of
ocn
development is sufficient to cover 100% of the cost of the
M w improvements as set forth in the Improvements Agreement plus
o z all costs of sole of the property.
z
— A title insurance policy insuring that the Trust Deed creates
U z a valid encumbrance which is senior to all other liens and
a
encumbrances.
Nm
d — A building permit hold shall be placed on the encumbered
m �
v property.
f-0 k.
0.3 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 us specified in the agreement and for
no other purpose and will not release any portion of such
funds without prior approval of the Board.
- The escrow agent will be a Federal or State licensed bank or
financial institution.
If the County of Weld County determines there is a default of
the Improvements Agreement, the escrow agent, upon request by
the County, shell 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 100% of
the value of the improvements as specified in the Improvements
Agreement.
8.5 A cash deposit made with the County equivalent to 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
7 Fr."3 ns
Applicant must present a Statement of Substantial Compliance from an
Engineer registered in Colorado that the project or a portion of the
project has been completed in substantial compliance with approved
plans and specifications documenting the following:
9.1 The Engineer or his representative has made regular on-site
inspections during the course of construction and the construction
plans utilized are the same as those approved by Weld County.
9.2 Test results must he submitted for all phases of this project as
per Colorado Department of Highway Schedule for minimum materials
sampling, testing and inspections found in CDOH Materials Manual.
9.3 "As built" plans shall be submitted at the time the letter
o requesting release of collateral is submitted. The Engineer shall
U certify that the project "as built" is in substantial compliance
coo with the plans and specifications as approved or that any material
U
deviations have received prior approval from the County Engineer.
a
0 9.4 The Statements of Substantial Compliance must be accompanied, if
o c4 appropriate, by a letter of acceptance of maintenance and
vrw
responsibility by the appropriate utility company, special
district or town for any utilities.
CN a 9.5 A letter must be submitted from the appropriate Fire Authority
.. w
o indicating the fire hydrants are in place in accordance with the
g
approved plans. The letter shall indicate if the fire hydrants
N
u are operational and state the renulta of fire flow testa.
co H 9.6 The requirements in 8.0 thru 8.5 shall be noted on the final
Cw
CO CO • construction plans.
9.7 Following the submittal of the Statement of Substantial Compliance
M w and recommendation of acceptance of the streets Ft.. _partial
z ual•Xenence bp9lhr,.fruttty, the applicant(s) may request release of
IN1n L
o the collateral for the project or portion of the project by the C
W g Board. This action will be taken at a regularly scheduled public
a
meeting of the Board.
re
M 9.8 The request for release of collateral shall be accompanied by
rlN
m G. "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 INITIAL
final acceptance by the Board of County Comaissioners few-fa-1-l. C
In.°
pursuant to a rezoning, subdivision or planned u • evelopment , INIT,AL.
requires the dedication, development en reservation of areas or c`\�
rites other than subdivis streets and utility easements of a
character, a and location suitable for public use for parks,
8
with ....t ..f the fellewL alternativeo, or on specified
any:
10.1 The required acreage as may be determined according to . ection
8-15-R of the Weld County Subdivision Regulations shall be INITIAL
dedicated to the County or the appropriste school 'strict, for 4,
one of the above purposes. Any urea so de cared shall be
approved by the County or school district, an shall be maintained
by she County or school district.
10.2 The required acreage as determined ace ding to Section 8-15-R of
the Weld County Subdivision Regula one may be reserved through
deed restrictions as open area, e maintenance of which shall be
ov a specific obligation in e decd of each lot within the
0
a subdivision.
v 10.3 In lieu of land, the C my may require a payment to the County in
A
o �j an amount equal to the market value at the time of final plat
o
o submission of e required acreage as determined according to
"} wo Section 8-15- . Such value shall be determined by a competent
x
o land
N z apprai r chosen jointly by the Board and the Applicant. The cash
.
•• (S col cted shall be deposited in an escrow account to he expended
a,
ox
a
w
o, U 11 .0 Successors and Assigns: This Agreement shall he binding upon the
co z heira, executors, personal representatives, successors and assigns of
H H
CO E the Applicant , and upon recording by the County, shall be deemed a
o a covenant running with the land herein described, and shall be binding
w
10 w upon the successors in ownership of said land.
o It! WITNESS WHEREOF, the parties hereto have caused this Agreement to be
Z
N 4 executed on the day and year first above written.
0
o a BOARD OF COUNTY COMMISSIONERS
wx 0 WELD COUNTY, COLORADO
r- ill
vko
W Ga
Cf
ATTEST: ALI �GG� - -
L ) 7
Weld County ?' t4:24 ' I OW /ha-
Clerk to e*ilo. d
BY:
Deputy y
� J
c •TO �F Rl1.
C unty Attorney
A CA. ' . on Resource Corporation
Attest BY: Craig Harrison, President
4yy,, (tit] /
nuhscrlhed and sworn to before me thisa_ ___ day of ftodDek. 19
Py commission expires: ,q_ Q'- s — ,
V Omoed
Nuttily Public
EXHIBIT "A"
Name of Subdivision: Valley View Ranch -
Filing: 1, Phase 1, Lots 1, 2, 3, 4, and 5 --
Location: At Intersection of Highway #257 and Weld County Road #74
Intending to be legally hound, the undersigned Applicant hereby agrees
to provide throughout this subdivision and as shown on the subdivision final
plat dated , 19_, recorded on ,
19 , in Book , Page No. , Reception No. , the
ri o following improvements.
- o
O
o O (Leave spaces blank where they do not apply.)
aEstimated
o w O improvements
Unit Cost Construction Coat
3
ow
+rrW l
Street grading _ Yes J\
o Street base Yes $8,220.00
O
a Street paving None
N
Curbs, gutters, and culverts Yes $I ,ZIU.UU
.. w Sidewalk None
o x Storm sewer facilities None
a Retention ponds _ None
w
cV a Ditch improvements None _
CA U
\ Subsurface drainage _ None
co H Sanitary_sewers None -
41 Trunk and forced lines Wineco El
o 0) Mains None
P4 l.aternls (house connected) None _
r' On-site sewage facilities By Lot Owners
en w On-site water supply and storage Yes l
o z WAtet mains _ Yes J 14,400.00
O
N „ Fire hydrants Yes —_ $2,800.00
o Survey_& street monuments & boxes Yes (Completed prior to final )
a o Street lightinj None
a Street name signs _ Yes - $ 300.00
r- 1 Fencing requirements By Lot Owners
d' Landscaping Yes $3,500.00_
Cr) r
ri CV Park improvements None _
fA W
SUB-TOTAL.
Engineering and Supervision Costs $1,500.00_
(testing, inspection, as-built plans and work in addition to preliminary and
final plat; supervision of actual construction by contractors)
TOTA1. ESTIMATED COST OF IMPROVEMENTS AND SUPERVISION $ 21 ,936.00
The above improvements shall be constructed in accordance with all County
requirements and specifications, and conformance with this provision shall be
determined solely by Weld County, or its duly authorized agent.
Said improvements shall be completed according t construction schedule
set out in Exhibit "B". HARR CORPORATION
ecretary Attest g pplicant
by Craig Harrison, President
(If corporation, to be signed by President and attested to by Secretary,
together with corporate seal.)
Date: December 26 , 1991
z02/11.
EXHIBIT "B"
•
Name of Subdivision: Valley View Ranch
Piling: 1, Phase 1. Lots 1 . 2, 3. 4. ond_ S
location: At Intersection of Highway #25.7 and Weld County Road #74
Intending to be legally bound, the undersigned Applicant hereby agrees to
construct the improvements shown on the final subdivision plat of
Valley_ View Ranch Subdivision,
dated , 19_, Recorded on , 19_,
in Book -__. Page No. , Reception No. , the following
r4O
a v schedule.
0 All improvements shall be completed within years from the date of
rI U
A approval of the final plat.
o w Construction of the improvements listed in Exhibit "A" shall be completed
O3
o x as follows:
0 (Leave spaces blank where they do not apply.)
O
0
W nr a Improvements Time for Completion
o a Street grading Yes March 1994
w Street base Yes March 1994
N a Street paving None _
. Curbs, gutters, and culverts March 1994
03 z
Hi H Sidewalk None
o H Storm sewer facilities _ None
o x Retention ponds None _
w Ditch improvements None
ri
Ln w Subsurface drainage None
M
e'' Sanitary sewers _ None
ot z Trunk and forced lines None
r _
N ft Mains Noneo
_
Laterals (house connected) None
v x On-nite sewage facilities _ By Lot Owners
a On-site water supply and storage Yes _ March 1994
r- c- Water mains Yes March 1994
M Fire_hydrants Yes March 1994 _
H N Survey_ . street monuments & boxes Yes
al w Street lighting None
g' '
Street name signs Yes March 1994
Fencing requirements By Lot Owners
Landscaping YPS __ March 1994
Park improvements Noop
SUB-TOTAL
The County, at its option, and upon the request by the Applicant, may grant
an extension of time for completion for any par • r' improvements shown
above, upon a shoving by the Applicant that a chedule cannot be met.
re of. Applicant
/With Harrison Resource Corporation
AttestL_ �d� by Craig Harrison, President
(If corporation, to be signed by President and attested to by Secretary,
together with corporate seal.)
Date: , 19
13%02411.
03-24-1992 08:07RM FROM HARRISON RESOURCE CORP TO 10.13313520242 P.02
HARRISON RESOURCE
, CORPORATION
..For Yaur Land And Natural Resource Imrsstmei t&
March 23, 1992
VIA FAX
Mr. Lee D. Morrison
Weld County Attorney
Post Office Box 1948
Greeley, Colorado 80632 •
Dear Lee:
I just received this draft of a Letter of Credit for First Interstate Bank. Please let
me know if this meets with your approvaL
rely,
Craig Harrison
CH/ta
Enclosure
•
•
Marketing and Inlormallon of Front Range Water and Land Resources
760 Wh3lors Way.SuIto a 1200.Fort Collins.Colorado 80525 (303)226-4100 FAX(303)228-8300
•
MAR 24 '92 8:05 1303 226 6300 PRGE. 002
Es 1341 REC 02293387 06/26/91 12 : 21 $0 . 00 13/016 9(c-r,03?
F 0618 NARY ANN FEUERSTEIN CIERK & RECORDER WELD CO, CO
03-24-1592 08:08RM FROM HARRISON RESOURCE CORP TO 1033313520242 P.03
nrrAmmmtmillnk
El
Mre of Fat PM,Xi _
�'! P.O. Box PS
Interstate Fon Coffin..CO 60522
(307),8'1.166,
Bank•
Date
Beneficiary
As: Latter of Credit No,
Dear Sirs:
We hereby establish, at the request and for the account of
(avplicant) in your favor, our Irrevocable Letter of Credit
No. in the amount of $ , effective
immediately and expiring at the close of banking business on
ein
provided, at our of unless automatically
fice at 205 WWest Oak S renewed
P s Port Colhlins, •
Colorado 80521.
•
This Letter of Credit is intended for the Valley View Ranch project
for the assurance of the completion of the Improvements Agreement
dated March , 1992. Funds under this Letter of Credit are
available to you for one or more drawings prior to the close of •
business on (exoiration date) against sight drafts in an
aggregate cumulative amount not to exceed S (amgantl , dated
the date of presentment, drawn on our office referred to above,
referring thereon to the number of this Latter of Credit and
accompanied by your written ;certificate signed by you and
acknowledged as therein provided in the form of Exhibit 1 hereto.
Presentation of such draft and Certificate shall be made at our
office referred to above.
Upon the earlier of (i) our honoring your drafts) totaling
S (amount) in the aggregate presented on or before this
Letter of Credit expires' pursuant to the terms herein, or (ii) the
surrender to us by you of this Letter of Credit for cancellation,
this Letter of Credit shall automatically terminate.
MAR 24 ' 32 8:06 1 303 226 6300 PAGE.003
b 1341 REC 02293387 06/26/92 12 : 21 $0 .00 14/016 n20 3?
F 0619 MARY ANN FEUERSTEIN CLERK & RECORDER WELD CO, CO " `"' =`
03-24-1992 08:0841 FRPM HARRIS0N RESOURCE C0RPT0 1033313520242 P.04
. Page 2
Letter of Credit -
This Letter of Credit is nct transferable.
This Letter of Credit sets forth in full cur undertaking, and such
undertaking shall not in any way be modified, amended, amplified or
limited by reference to any document, instrument or agreement
referred to herein, except only the certificate and draft(s)
referred to herein; and any such reference shall not be deemed to
incorporate herein by reference any document, instrument or
agreement except for such certificate and drafts(s) .
This Letter of Credit shall be governed by the Uniform, Commercial
Code -- Letters of Credit, as enacted in the State of Colorado.
This Letter of Credit is issued subject to the Uniform Customs and
Practice for Documentary Credits, 1963 revision, ICC Publication
No. 400 (1984) , excluding Articles 45 end 54 (regarding installment
drawings and transfer) therefore and except to the extent that
other articles there may be inconsistent with the UCC or the terms
of the better of Credit.
This Letter of Credit is automatically renewable for a period of
one year on {expiration datel unless at least 60 days prior to
the expiration date First Interstate Bank of Port Collins, R.A.
notifies you by certified mail that Bank does not intend to
renew this Letter of Credit. beyond 'sa expiration date.
Sincerely, STS
Ed Wilkins
Assistant Vice President
Commercial Loan Department
ZW/gf
MAR 24 ' 92 8:07 1 303 226 6300 PRGE.004 .
B 1341 REC 02293387 06/26/92 12 :21 $0 . 00 15/0169 F
F 0620 MARY ANN FEUERSTEIN CLERK & RECORDER WELD CO , CO r+� s';.1p
03-24-1992 08:09AM FRIM HARRISON RESOURCE CCRP TO 10.3.5513520242 P.05
cnTtn c n •
• The undersigned hereby certifies ,as follows with respect to the
certain irrevocable Letter of Credit No. dated
established in favor of (The *Beneficiary") .
(a) Se(She) is authorized to execute this Certificate on behalf of
Ibensficiarv) , and
(b) The Sum of S , which is the amount of the draft
presented with this Certificate, is the amount currently due
, to (the beneficiary) of Fort Collins from _ li alicarLp)
•
(e) The amount of the aeoompaaying draft together with all
previous draws under the Letter of Credit do not exceed in the •
aggregate of
(d) The Letter of Credit has not expired.
IN WITNESS WHEREOF, the undersigned has executed this Certificate
on behalf of (beneficiary) thin day of •
bpnef iciarv •
by:
AuthorisedOfficer
STATE OF COLORADO
) as.
COUNTY OF
.The foregoing instrument was acknowledged before me the
day of , 19_, by
of beneficiary .
WITNESS my hand and official seal
Notary public
My Commission Expires:
•
TOTRL P.05
MAR 24 '92 8:07 1 303 228 8300 PAGE.005
B 1341 REC 02293387 06/26/92 12 : 21 $0 . 00 16/016 92;(1-3,.(111
F 0621 MARY ANN FEUERSTEIN CLERK & RECORDER WELD CO, CO
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