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Home My WebLink About971077.tiffLandmark ENGINEERING Ltd. January 22, 1997 Project No. ZEEK-6B3C-01-200 Weld County Administrative Offices 1400 N. 17th Avenue Greeley, CO 80631 ATTN: Todd Hodges, Planner RE: Amended Plat of Rademacher Industrial Park Final P.U.D. Submittal Dear Todd: On behalf of our client, Zeek Properties, Ltd., we are submitting for review and future scheduling, the above mentioned P.U.D. Additionally, we are also submitting support information and preliminary construction documents to further assist in your evaluation and approval. If you are in need of any further information, please feel free to contact our office at your convenience. Sincerely, Landmark Engineering Ltd. Dona d P . effler DDL/lo Enclosures 3521 West Eisenhower Blvd. Loveland, Colorado 80537 EXHIBIT I Dale D. Olhausen 971077 Loveland (970) 667-6286 ENGINEERS • ARCHITECTS • PLANNERS • SURVEYORS FAX (970) 667-6298 Denver (303) 629-7124 ADDRESS: 14S0L T -7S Frnptago DEPARTMENT OF PLANNING SERVICES Weld County Administrative Offices, 1400 N. 17th Avenue, Greeley, Colorado 80631 Phone: (970)353-6100, Ext. 3540, Fax: (970) 352-6312 PLANNED UNIT DEVELOPMENT PLAN APPLICATION FOR PLANNING DEPARTMENT USE ONLY: Case Number Application Fee: Zoning District Receipt Number Date Application Checked By: Planner Assigned to Case: BE COMPLETED BY APPLICANT: (Print or type only except for required signatures). I (we), the undersigned, hereby request a hearing before the Weld County Planning Commission and the Board of County Commissioners concerning proposed subdivision of the following described unincorporated area of Weld County. LEGAL DESCRIPTION: (If additional space is required, attach an additional sheet of this same size.) PARCEL NUMBER: 1 2 Q 7 2 2,Q,Q 2 Q Q 0 (12 digit number found on Tax I.D. Information or obtained in the Assessor's Office. NAME OF PROPOSED PUD SUBDIVISION Rademacher Business Park EXISTING ZONING Commercial/Lt. Industrial NO. OF PROPOSED LOTS 26 TOTAL AREA (ACRES)142.007 LOT SIZE: AVERAGE 5 9R MINIMUM 2.99 UTILITIES: WATER: NAME Little Thompson Water District SEWER: NAME Tndividnal Septic System GAS: NAME Puhlir Service PHONE: NAME U.S. West Communications ELECTRIC: NAME Tini red Power DISTRICTS: SCHOOL: NAME N/A Tpdnctrial Park FIRE: NAME Mountain Viow Vim Tlictrirr DESIGNER'S NAME Landmark Engineering Ltd. PHONE (970) 667-6286 ADDRESS 3521 W. Eisenhower Blvd, Loveland, CO 80537 PHONE ENGINEERS NAME Landmark Engineering T.td. PHONE (8701 667-6786 ADDRESS 3591 W Rispnhnwor Rlvd T.nvel and ('r) RfS27 PHONE SURFACE FEE (PROPERTY OWNERS) OF AREA PROPOSED FOR PUD REZONING: NAME: Zeek Properties Ltd. HOME TELEPHONE: ADDRESS: Ken Williamson NAME: T.nngmnnt, rn 80co. Road BUS.TELEPHONE: (303) 776-1309 HOME TELEPHONE: BUS.TELEPHONE: APPLICANT OR AUTHORIZED AGENT (if different than above): NAME: Landmark Engineering Ltd. Donald D. Leffler HOME TELEPHONE: ADDRESS: 3521 W. Eisenhower Blvd. Tnvoland CO RnS37 BUS.TELEPHONE:(970) 667-6286 OWNER(S) AND LESSEES OF MINERAL RIGHTS ON OR UNDER THE SUBJECT PROPERTIES OF RECORD IN THE WELD COUNTY ASSESSOR'S OFFICE: NAME: Sap mineral rights and surfa re estate affidavit listings. ADDRESS: NAME: nn ADDRESS: Revised: 3-28-96 25 Sign re. ized Agent Z.;!.U$Z4 WELD COUNTY TITLE COMPANY Downtown - 1221 8th Avenue, Greeley, Colorado 80631 (970) 356-3232 Fax (970) 356-3248 West - 1009 37th Ave. Ct., Suite 101, Greeley, Colorado 80634 (970) 351-0007 Fax (970) 351-6633 WCTC Order No.: CP36927 Title Examiner: KATHY WOLKING - DOWNTOWN - 356-3232 Designated Closer: Purported Address: VACANT LAND LONGMONT CO Current Owners: ZEEK PARTNERSHIP, LTD., A COLORADO LIMITED PARTNERSHIP Proposed Owners: TO BE AGREED UPON Tax Cert Ordered: NO Survey Ordered: NO Original To: ZEEK PARTNERSHIP, LTD. 14504 1-25 FRONTAGE ROAD LONGMONT, CO 80504 AI.IN: CONNIE:WILLIAMSON Copy To: "XANDMARK ENGINEERING Copy To: Copy To: Copy To: WE APPRECIATE YOUR BUSINESS!!! 971077 CHICAGO TITLE INSURANCE COMPANY COMMITMENT FOR TITLE INSURANCE CHICAGO TITLE INSURANCE COMPANY, a corporation of Missouri, herein called the Company, for a valuable consideration, hereby commits to issue its policy or policies of title insurance, as identified in Schedule A, in favor of the proposed Insured named in Schedule A, as owner or mortgagee of the estate or interest covered hereby in the land described or referred to in Schedule A, upon payment of the premiums and charges therefor; all subject to the provisions of Schedule A and B and to the Conditions and Stipulations hereof. This Commitment shall be effective only when the identity of the proposed Insured and the amount of the policy or policies committed for have been inserted in Schedule A hereof by the Company, either at the time of the issuance of this Commitment or by subsequent endorsement. This Commitment is preliminary to the issuance of such policy or policies of title insurance and all liability and obligations hereunder shall cease and terminate six months after the effective date hereof or when the policy or policies committed for shall issue, whichever first occurs, provided that the failure to issue such policy or policies is not the fault of the Company. This Commitment shall riot be valid or binding until countersigned by an authorized officer or agent. IN WITNESS WHEREOF, the Company has caused this Commitment to be signed and sealed, to become valid when countersigned by an, authorized officer or agent of the Company, all in accordance with its By -Laws. This Commitment is effective as of the date shown in Schedule A as "Effective Date." ISSUED BY: WELD COUNTY TITLE CO. 1221 8th Avenue Greeley, Colorado 80631 (970) 356-3232 Authorized Officer or Agent CHICAGO TITLE INSURANCE COMPANY By: ATTEST: Pr,sitint. Secretary. F. 2880 971077 CTIRB: 5-1-75 COMMITMENT FOR TITLE INSURANCE • * * * SCHEDULE A 1. Effective Date: APRIL 17, 1996 Q 7:00 A. M. RE: Our Order No.: CP36927 2. Policy or Policies to be issued: A. ALTA Owner's Policy Amount $ TO BE AGREED UPON Proposed Insured: TO BE AGREED UPON B. ALTA Loan Policy Amount $ Proposed Insured: C. ALTA Loan Policy Amount $ Proposed Insured: 3. The estate or interest in the land described or referred to in this Commitment and covered herein is a fee simple, and title thereto is at the effective date hereof vested in: ZEEK PARTNERSHIP, LTD., A COLORADO LIMITED PARTNERSHIP 4. The land referred to in this Commitment is described as follows: LOTS 1-9, AND LOTS 11-14, BLOCK 1, AND LOTS 1-10, BLOCK 2, RADEMACHER BUSINESS PARK P.U.D. AKA RADEMACHER SUBDIVISION, WELD COUNTY, COLORADO. ti 971.077 C O M M I T M E N'T FOR TITLE INSURANCE * * * * * SCHEDULE B Section 1 RE: Our Order No.: CP36927 REQUIREMENTS: The following are the requirements to be complied with: Item (a) Payment to or for the account of the grantors or mortgagors of the full consideration for the estate or interest to be insured. Item (b) Payment of all taxes, charges or assessments, levied and assessed against the subject premises which are due and payable. Item (c) The following instrument(s) must be properly executed and filed of record in the Official Land Records of Weld County, Colorado, to wit: 1. Certificate of Limited Partnership of ZEEK PARTNERSHIP, LTD., a limited partnership, citing the terms and the general partners thereof. 2 971077 COMMITMENT FOR TITLE INSURANCE * * * * * SCHEDULE B �,- Section 2 RE: Our Order No.: CP36927 EXCEPTIONS: The policy or policies to be issued will contain exceptions for defects, liens, encumbrances, adverse claims or other matters, if any, created, first appearing in the public records or attaching subsequent to the effective date hereof but prior to the date the proposed insured acquires of record for value the estate or interest or mortgage thereon covered by this Commitment; and exceptions to the following matters unless the same are disposed of to the satisfaction of the Company: 1. Rights or claims of parties in possession not shown by the public records. 2. Easements, or claims of easements, not shown by the public records. 3. Discrepancies, conflicts in boundary lines, shortage in area, encroachments, and Any facts which a correct survey and inspection of the premises would disclose and which are not shown by the public records. 4. Any lien, or right to a lien, for services, labor or material heretofore or hereafter' furnished, imposed.by law and not shown by the public records. 5. Taxes and assessments which are a lien or due and payable; and any tax, special assessments, charges or lien imposed for water or sewer service, or for any other special taxing district, any unredeemed tax sales. 6. Taxes for the year 1996, a lien,. but qot yet due or payable. *****NOTE: Please see Requirement Item b, Schedule B, Section 1. 7. Easements as shown on the plat of subdivision. 8. Right of way for THE HOWLETT DITCH (AKA BAUGH LATERAL) as evidenced by Statement filed in the Weld County Clerk & Recorder's Office, insofar as the same may affect subject property. 9. Terms, conditions and provisions of CONTRACT & AGREEMENT, between THE COLORADO IIq, „ ENGINEERING & CONSTRUCTION COMPANY OF GREELEY, COLORADO and P. K. PATTERSON AND GUS ?'' BIEDERMAN recorded JULY 13, 1933 in BOOK 948 at PAGE 584 as RECEPTION NO. 671981, `' ° which provides for the construction and maintenance of a tile line. 10.Easement for UTILITY LINE purposes as granted to PUBLIC SERVICE_COMPANY OF COLORADO by 1\ instrument recorded JUNE 10, 1959 in BOOK 1533 at PAGE 436, said easement being over the South 5 feet of Lot 14, Block _1 only. n - 3 CONTINUED NEXT PAGE 971077 B-2 CONTINUED CP36927 11. Pipe line used in conducting water to the NW 1/4 of Section 23, Township 3 North, Range 68 West of the 6th P.M., and the right of way therefor as disclosed by Warranty Deed recorded December 31, 1962 in Book 1634 at Page 188. 12. Rights of way for PIPE LINE purposes as granted to PANHANDLE EASTERN PIPE LINE COMPANY by instrument recorded JUNE 5, 1975 in BOOK 740 as RECEPTION NO. 1662084, said rights of way being 50 feet in width, the centerlines of which are more particularly described as follows: 1) Beginning at a point on the North line of the NW 1/4 of Section 23, Township 3 North, Range 68 West of the 6th P.M., which bears North 90°00'00" West, a distance of 1180.99 feet from the NE Corner of said NW 1/4; thence South 00°39'18" East, a 9' �r distance of 68.85 feet to the end of said line; 2) Beginning at a point on the North line of Sectiork,23, Township 3 North, Range 68 West of the 6th P.M., which bears North 90°00'00" East, a distance of 1710:03 feet e1 from the North 1/4 Corner of said Section; thence South 00°00'00" East, a distance of 66.37 feet to the True Point of Beginning; thence North 88°54'21" West, a distance of 70.00; thence South 76°09'42" West, a distance of 85.30 feet; thence South 88°35'11" West, a distance of 1455.60 feet; thence South 89°42'45" West, a distance of 193.10 feet; thence North 75°17'15" West, a distance of 249.50 feet; thence South 89°18'50" ° West, a distance of 1157.10 feet; thence South 50°53'00" West, a distance of 1013.90 feet; thence North 8907'00" West, a distance of 319.70 feet to a point on the West line of the North 1/2 of said Section 23, said point being South 00°06'51" East, a distance of 707.59 feet from the NW Corner of said Section 23, and the point of termination of said centerline. NOTE: Said rights -of -way were assigned and conveyed to K N ENERGY, INC., by instrument recorded APRIL 5, 1993 in BOOK 1376 as RECEPTION NO. 2327621. Right of way for PIPE LINE purposes as granted to PANHANDLE EASTERN PIPE LINE COMPANY by instrument recorded APRIL 25, 1978 in BOOK 829 as RECEPTION NO. 1751444, and Amendment of Grant recorded NOVEMBER 24, 1986 in BOOK 1136 as RECEPTION IO. 2078162, said right of way being 50 feet in width, the centerline of which is described as follows: Beginning at a point on the South line of the NW 1/4 of Section 23, Township 3 North, Range 68 West of the 6th P.M., which bears 1413.72 feet East of the SW Corner of said NW 1/4; thence North at an angle of 9018'57" left6 a distance of 2037 feet; thence 02°21'20" right, a'distance of 365 feet; thence 02 19'47" left, a distance of 190 feet to a point on the parent line 16-10-075-26-8", said point being 1185.00 feet West and 72.00 feet South of the NE Corner of the NW 1/4 of said Section 23. NOTE: Said right-of-way was assigned and conveyed to K N ENERGY, INC., by instrument recorded APRIL 5, 1993 in BOOK 1376 as RECEPTION NO. 2327621. 14. Permanent easement for undisclosed purposes as shown on Land Survey Plat recorded September 7, 1995 in Book 1510 as Reception No. 2454575. Lie fe by _ n o FS e, rYI e rat A/c, -29,a ted ) O 11,Vic'_. [7c)/6 I ;yKini , CONTINUED NEXT PAGE 97107" B-2 CONTINUED CP36927 15. Easement for WATER LINE purposes as granted to LITTLE THOMPSON WATER DISTRICT AND CENTRAL WELD COUNTY WADER DISTRICT by instrument recorded JANUARY 17, 1996 in BOOK 1527 as RECEPTION NO. 2472233, said easement being more particularly described as follows: Beginning at the NW Corner of Section 23, Township 3 North, Range 68 West of the 6th P.M., Mand considering the North line of the NW 1/4 of said Section 23 as bearing South 89o19'05" East and with all bearings contained herein relative thereto; thence along said North line, South 89°19'05" East, 50.00 feet to a point on the East right of way line of the frontage road to Interstate 25; thence along said East right of way line, South 00°32'01" West, 30.00 feet to a point on the South right of way line of County Road 32, said goint being the True Point of Beginning; thence along said right of way line, South 89 19'05" East, 1332.53 feet to a point on the Westerly line of that certain parcel of land described in Deed recorded in Book 1574 at Page 387, records of Weld County; thence along said West line, South 00°46'37" West, 22.00 feet to the SW Corner of said parcel; thence along the South line of said parcel, North 89°52'49" East, 1184.93 feet to a point on the West right of way line of County Road 9 1/2; thence along said right of way line South 00 02'°21" West, 2002.49 feet; .thence departing said West right of way line, North 8957'39" West, 20.00 feet; thence North 00 02'21" East, 1873.83 feet; thence North 77°28'34" West, 244.97 feet; thence North 87°37'52" West, 294.92 feet; thence South 89°55'15" West, 588.30 feet; thence South 88°55'19" West, 46.69 feet; thence North 89°19'05" West, 258.00, feet; thence North 44°19'04" West, 49.51 feet; thence North 89°19'04" West, 1039.39 feet to the East right of way linen of the frontage road to Interstate 25; thence along said East right of way, North 00 32'01" East, 50.00 feet to the True Point of Beginning; together with a temporary construction easement. 16. Easement for WATER LINE purposes as granted to THE NORTHERN COLORADO WATER CONSERVANCY DISTRICT by instrument recorded MARCH 5, 1996 in BOOK 1535 as RECEPTION NO. 2479331, said easement being for the benefit of the entire subdivision, and being more particularly described as follows: Commencing at the NW Corner of Section 23, Township 3 North, Range 68 West of the 6th P.M., whence the West 1/4 Corner of said Section 23 bears South 00°35'54" East, a distance of 2667.11 feet; thence South 44°51'28" East, a distance of 83.96 feet to the Northerly line oof Block 1, Rademacher Subdivision, being the True Point of Beginning; thence North 89O31'51" East along said Northerly line, a distance of 50.00 feet; thence South 00°09'28" East,,,a distance of 975.70 feet; thence South 78°55'48" East, a distance of 1925.85 feet; thence South 63°58'11" East, a distance of 358.42 feet; thence South 85°58'11" East, a distance of 274.05 feet; thence South 01°05'22" East along the Easterly line of said Block 1, a distance of 50.20 feet; thence North 85°58'11" West, a distance of 288.25 feet; thence North 63°58'11" West, a distance of 361.58 feet; thence North 78°55'48" West, a distance of 1960.34 feet; thence North 00°09'28" West, a distance of 1016.48 feet to the Northerly line of said Block 1 and the True Point of Beginning; together with a temporary construction easement as granted by Deed recorded MARCH 5, 1996 in BOOK 1535 as RECEPTION NO. 2479330. 17. Reservation as contained in Patent recorded MARCH 18, 1897 in BOOK 153 at PAGE 40, said reservation being as follows: Excluding and excepting "All Mineral Lands" should any such be found to exist, but this exclusion and exception shall not be construed to include coal and iron land. 5 CONTINUED NEXT PAGE 971077 B-2 CONTINUED CP36927 18. Reservations by the Union Pacific Railroad Company to itself and its assigns in Deed recorded MARCH 14, 1898 in Book 157 at Page 131, of all coal that may be underneath the surface of the land described therein and the exclusive right to prospect and mine for the same; also such right of way and other grounds as may be necessary for the proper working of any coal mines that may develop upon said premises, and for the transportation of the coal from the same; and any interests therein, assignments or conveyances thereof. 19. Reservation of an undivided 1/2 interest in and to all oil, gas and other mineral rights underlying said premises, including right of ingress and egress to prospect for, mine, drill for and remove the same as contained in instrument from MORRIS NICHOLS AND MARION NICHOLS recorded JANUARY 9, 1956 in BOOK 1439 at PAGE 241, and any interests therein, assignments, or conveyances thereof. 20. 'Oil and Gas Lease from ST. VRAIN LAND CO., A COLORADO CORPORATION to T. S. PACE, recorded JULY 20, 1970 in BOOK 630 as RECEPTION NO. 1551644, and any interests therein, assignments or conveyances thereof. Said Lease extended by AFFIDAVIT OF LEASE EXTENSION OR PRODUCTION recorded MAY 2, 1975 in BOOK 738 as RECEPTION NO. 1659516.na,cr, 7) A� 21. Deed of Trust from K & C DEVELOPMENT COMPANY, A GENERAL PARTNERSHIP to the Public Trustee of Weld County for the use of THE FIRST NATIONAL BANK OF LONGMONT, to secure the face amount of $600,000.00 dated APRIL 26, 1988 and recorded APRIL 27, 1988 in BOOK 1194 as RECEPTION NO. 2139202. 22. Financing Statement from RADEMACHER FARMS, A PARTNERSHIP, Debtor, to THE FIRST NATIONAL BANK OF LONGMONT, Secured Party, recorded FEBRUARY 6,. 1992 as FILING NO. U244941. 23. Any interest held by Weld County, District Two (2) in subject property by virtue of Quit Claim Deed recorded January 4, 1961 in Book 1574 at Page 387. (c` 6 ENDORSEMENT No. -1- Attached to and forming a part of 'COMMITMENT NO! CP36927 ISSUED BY CHICAGO TITLE INSURANCE COMPANY Item 14, in Schedule B, Section 2, is hereby deleted. RE: ZEEK PARTNERSHIP, LTD., A COLORADO LIMITED PARTNERSHIP TO BE AGREED UPON VACANT LAND LONGMONT CO This endorsement, when signed below by a Validating Signatory, is made a part of the commitment. It is subject to all the terms of the commitment and prior endorsements. Except as expressly stated on this endorsement, the terms, dates and amount of the commitment and prior endorsements are not changed. CHICAGO TITLE INSURANCE COMPANY Dated: DECEMBER 30, 1996 DF ating Signatory 971077 1-21-1997 11:2OAM FROM WF'r) COUNTY TITLE 970 366 3248 P.2 ENDORSEMENT No. -2- Attached to and forming a part of COMMITMENT NO. CP36927 ISSUED BY CHICAGO TITLE INSURANCE COMPANY We have searched the records of Weld County from the effective date of this Commitment to JANUARY 15, 1997 @ 7:00 A. M. and find the following documents recorded: A NONE RE: ZEEK PARTNERSHIP, LTD., A COLORADO LIMITED PARTNERSHIP TO BE AGREED UPON VACANT LAND LONGMONT CO This endorsement, when signed below by a Validating Signatory, is made a part of the commitment. It is subject to all the terms of the commitment and prior endorsements. Except as expressly stated on this endorsement, the terms, dates and amount of the commitment and prior endorsements are not changed. CHICAGO TITLE INSURANCE COMPANY Dated; JANUARY 21, 1997 BY KW Val ating Signatory 971.077 January 22, 1997 Project No. ZEEK-6B3C-01-200 Amendment to Rademacher Industrial Park Project Description This submittal to Weld County is for the Amendment to the Rademacher Industrial Park Final P.U.D. Plat. The amendment to the existing P.U.D. plat helps enhance the roadway alignment, improve upon existing facilities and increase the requirements for landscaping in conjunction with the recently revised I-25 corridor ordinance changes. Additionally, one lot has been subdivided to create four smaller lots to further diversify the variety of lot selections. Road improvements shall be installed to current Weld County design standards. All circulation roads will be installed by the developer and have public access. The upkeep and maintenance of the circulation roads will be the responsibility of the Rademacher Industrial Park Association. Water service will be installed by the developer and supplied by the Little Thompson Water District. Each lot shall have independent septic systems. Irrigation plans for each lot shall be submitted upon such time that building permits are applied for. As each lot is developed and specific uses are identified, Weld County shall determine the necessary permits required for approval of building and occupancy permits. 971077 January 21, 1997 Project No. ZEEK-6B3C-01-200 Supplemental Application Support Statements The below listed items are to be attached to the application for the Rademacher Business Park P.U.D. There intent is to bring clarity to some of the issues and concerns which may arise during this submittal. Item 1 Highway Access Currently, we are working with the Colorado Department of Transportation, (CDOT) to coordinate access off of the I-25 frontage road. Additionally, we have submitted a transportation study to CDOT to further assist in determining offsite impacts and improvements. (See attached letter in Exhibits). Item 2 P.U.D. Area The total area of the P.U.D. encompasses 140.007+ acres. The existing zoning consists of commercial and light industrial. The number of building structures, total floor space, and parking requirements for each lot shall meet Weld County Ordinance requirements based upon lot size. Each building, use, and site plan for said business shall undergo review by Weld County Planning and respective agencies upon submittal for building permit. Item 3 Landscaping All landscaping for each lot shall meet current Weld County design requirements and a landscape plan shall be submitted for approval prior to issuance of a building permit. Additionally, the developer shall install the necessary landscaping to meet the current Weld County I-25 Corridor landscape requirements along the I-25 frontage road. Irrigation and upkeep for the I-25 frontage landscape shall be the responsibility of the Association of the Rademacher Business Park. Furthermore, all exterior perimeter and common open space landscaping, installation, maintenance and upkeep shall be the responsibility of the Business Park Association. Item 4 Landscape Plan Each lot owner shall submit a proposed landscape plan for approval by Weld County Planning, prior to obtaining a building permit. The landscape plan must address buffering, screening between buildings, structures, perimeter treatment, materials, techniques, and irrigation. Item 5 Open Space All open space shall be owned by the respective lot and easement owners and maintained under the guidlines outlined in the Rademacher Business Park covenants. Item 6 Restrictive Covenants A preliminary draft of the Covenants, Conditions and Restrictions are enclosed for your review. Item 7 Irrigation Ditch A copy of the Irrigation Ditch Agreement is enclosed for your review. Item 8 Financial Plan The financial plan of the developers and Collateral Agreement are enclosed for your review. Item 9 CDOT Evaluation Currently the construction documents and P.U.D. are under evaluation with CDOT. Upon such time as the review by CDOT is complete, all of the respective agreements will be adjusted accordingly. Item 10 P.U.D. Submittal The P.U.D. has been submitted to the Colorado Geological Society for review. Upon such time that their review is complete, the plans and revisions will be made, respectively. 971.077 Item 11 Mailing List A current mail listing has been enclosed to assist in notification as per Weld County ordinances. We are also enclosing further response statements that address the outstanding issues and concerns raised by the reviewing agencies during the review comments received from the August 6, 1996 review. Item A-1 Response to Don Carroll Each lot will implement their own storm water detention facility as required by Weld County Subdivision Ordinances. This will be reviewed at the time that building permits are requested. All internal streets will be built to Weld County Standards with public access and maintained by the association. Item A-2 Ken Lind, Baugh Lateral Ditch Company Please review the enclosed Agreement reached between the developer and Baugh Lateral Ditch Company. Item A-3 Town of Mead This is an existing P.U.D. with zoning which has previously been approved for individual septic systems. The amendment and improvements to the P.U.D. will not impact the sanitary system approved for this P.U.D. Item A-4 Trevor Jiricek The developer concurs with the concerns and suggest that as each individual use is evaluated within each application for site plan review and building permits for each applicant to prove the necessity for proper Colorado state permitting process for surface and groundwater permits, as well as Air Pollution Emission permits. 971.077 Item A-5 Coordination with CDOT Please refer to the Transportation Study. Currently, we are awaiting final review from CDOT for approval. Item A-6 Longmont Soil Conservation District Each future lot owner shall be responsible for meeting the requirements for septic system design, as set forth in the Weld County Design Standards, during their application for site specific review and building permit application process. If you are in need of any additional information, please contact our office at your convenience. Sincerely, Landmark Engineering Ltd. Donald D. Leffler Enclosures DDL/lo 971077 NOV-06-96 WED 16:59 WSM&T FAX NO. 3038399366 P. 02 Welborn Sullivan Meek & Tooley, P.C. November 6, 1996 Via Telefax and US Mail Todd Hodges Weld County Planner Department of Planning Services 1400 N. 17th Avenue Greeley, Colorado 80631 Re: leek Properties, Ltd. Township 3 North, Range 68 West Section 23: Part of the NW4 Dear Todd: Attorneys at Law 1776 Sherman Street Suite 1 s00 Denver, Colorado 80203 Tcierlhnne 1303.830-2600 Facsimile 30&832.2386 Jahn F. Walborn Stephan J. Sullivan Jelin K Meek Keith U. Maley Kent or P. Junes Molly 4onunervi Ile Karen OstranderKrug Marla E, Valdez Brian 5, Thole" Scott L. Sully Of Counsel Robert K Welborn Snecinl Counsel Hugh V Schaefer This letter follows up my letter to Keith Schuett dated July 16, 1996 in which I indicated that Union Pacific Land Resources Corporation ("UPLRC") and/or Union Pacific Resources Company ("UPRC") owns the coal that underlies the N2 of Section 23, a portion of which is the subject of the above referenced application for the Rademacher Business Park PUD ("Application"). This letter confirms my telephone conversation with Keith Schuett on July 25 and my conversations with J.L. Walter on September 16 and Don Leifer on November 11, both with Landmark Engineering, that neither UPRC nor UPLRC will take a position with respect to the Application. The UP entities, therefore, do not intend to file an objection to the Application. If you have any questions regarding this matter, please call me. Best regards, Molly Sommerville cc: Don Leffer Robert See Kathy Cox, Esq. 971079 01/23/97 12:52 $303 449 8261 K & C RV INC. 002/002 Zeek Partnership, LTD. 14504 1-25 Frontage Rd. Longmont, CO 80504 January 22, 1997 Weld County State of Colorado Greeley, CO Dear Sir: Concerning the improvement agreement made and entered into January 22, 1997, between the County of Weld, State of Colorado and Zeek Partnership, LTD. Upon approval with Weld County, cash will be deposited in an account with Weld County for use for the project. Sin •r ely, enneth A. Williamson General Partner 97'1 0 ,, Zeek Partnership, LTD. 14504 1-25 Frontage Rd. Longmont, CO 80504 January 22, 1997 Weld County State of Colorado Greeley, CO Ec ONE JAN27,097 7 LLr Dear Sir: Concerning the improvement agreement made and entered into January 22, 1997, between the County of Weld, State of Colorado and Zeek Partnership, LTD. Upon approval with Weld County, cash will be deposited in an account with Weld County for use for the project. enneth A. Williamson General Partner 971077 Landmark ENGINEERING Ltd. January 10, 1997 Project No. ZEEK-6B3C-01-200 Tess Jones Colorado Depaitinent of Transportation 1420 2nd Street Greeley, Colorado 80631 RE: Rademacher Business Park Access Review Dear Tess: On behalf of our client "Zeek Properties", and in pursuit to gain approval for access, we request your review of the enclosed information. If you have any questions or are in need of additional information, please feel free to contact me at your convenience. Additionally, we request that your office copy to our office and to Todd Hodges, Weld County Department of Planning, Weld County Administration Offices, 1400 N. 17th Avenue, Greeley, CO 80631. Thank you for your assistance in this matter. Sincerely, Landmark Engineering Ltd. James R. Loonan JRL/ej Enclosures 3521 West Eisenhower Blvd. Dale D. Olhausen, P.E. & L.S. Loveland, Colorado 80537 President Loveland (970) 667-6286 ENGINEERS • ARCHITECTS • PLANNERS • SURVEYORS FAX (970) 667-6298 Denver (303) 629-7124 a t„.?.l Landmark ENGINEERING Ltd. January 17, 1997 Project No. ZEEK-6B3C-01-200 Mr. Jim Soule Colorado Geological Survey 1313 Sherman St. Rm 715 Denver, CO RE: Review of Rademacher Business Park, P.U.D. Dear Jim: On behalf of our "Zeek Properties" and in pursuit to work with Weld County in obtaining approval of the P.U.D., we are submitting for review the enclosed information. If you are in need of any further information pertaining to the above named P.U.D., please feel free to contact myself at your convenience. To further assist in streamlining the review process with Weld County, and in addition to responding to our office; we are asking for your department to copy your findings to Weld County, Department of Planning Services. Please address your findings to our office, and a copy to the attention of Todd Hodges, Planner, Weld County Administrative Offices, Department of Planning, Greeley Colorado 80631. Thank you for your assistance in this matter. Sincerely Landmark,.ngineering Ltd. Donald',D Leffler DDL/as Enclosure 3521 West Eisenhower Blvd. Loveland, Colorado 80537 Loveland (970) 667-6286 Dale D. Olhausen, P.E. & L.S. President /" ENGINEERS • ARCHITECTS • PLANNERS • SURVEYORS 'Vat. FAX (970) 667-6298 Denver (303) 629-7124 „9, 7 07 x,% LICENSE AGREEMENT 1. PARTIES. The parties to this Agreement are the BAUGH LATERAL DITCH COMPANY, a mutual ditch company, (the "Ditch Company") and Zeek Partnership, Ltd., a Colorado Partnership (the "Licensee"). 2. RECITALS. The Licensee desires to obtain the permission of the Ditch Company to re -align and concrete line the Baugh Lateral Ditch (the "Ditch") and to construct certain structures across or under the "Ditch" and within the appurtenant easement owned by the Ditch Company as part of the development of the land adjacent to the "Ditch". The Ditch company agrees to permit the proposed construction, subject to the terms, conditions, covenants, and agreements set forth in this Agreement. Accordingly, in consideration of the mutual promises set forth in the Agreement, the parties covenant and agree as follows: 3. GRANT OF LICENSE. 3.1 Pursuant to the terms of this Agreement, the Licensee is granted a license to realign the "Ditch" and concrete line and construct certain structures under and across the Ditch and within the appurtenant easement owned by the Ditch Company. The legal description of the location of the construction is attached as Exhibit A. The plans and specifications for the construction of the structures (the "project") are attached as Exhibit B. 3.2 All portions of the Ditch, bottoms, sides, banks, and all affected portions of the Ditch and lateral easements which are disturbed by the Licensee's construction of the project shall be constructed to the approved construction documents. Any and all fencing and other facilities appurtenant to the Ditch Company's easement shall be replaced in a condition at least equal to the condition of such facilities and appurtenances prior to construction of the project. Ns 3.3 The Licensee agrees that the construction of the project shall proceed expeditiously and with reasonable diligence from the commencement of construction to its completion. This license shall expire on December 1, 1997. If the project is not completed by that date, all work shall cease and Licensee shall have no rights pursuant to this Agreement whatsoever. * 3A Wg The Licensee agrees to conduct and complete the project licensed herein during the period when the Ditch Company is not operating the Ditch. In the event Licensee interrupts the *(See Exhibit "C" attached hereto and incorporated herein by reference) 1 971.07, operation of the Ditch, Licensee agrees to pay damages to Ditch Company in the minimum amount of $100.00 for any day or part of any day the operation of the Ditch is interrupted. The Ditch Company shall have the option to prove additional damages beyond that amount, but in no event shall the damages be construed to be less than that amount per day for any part of a day that the operation of the Ditch Company is interrupted. 3.5 The Licensee, in order to guarantee completion of the project in accordance with the terms of this agreement, at the time of commencement of the construction shall deposit the sum of 515,000.00 in an interest bearing account in a bank of its choosing, in the name of the Ditch Company and the Licensee. The Licensee shall have the right to withdraw the funds upon completion of the project as verified by the Ditch Company's engineer in accordance with paragraph 5.1 hereof. However, should the project have been commenced but not been completed by the date the license is to terminate, then the Ditch Company shall have the right to withdraw the funds from the bank account. Additional documentation, if any, shall be executed pursuant to paragraph 15. 4. LICENSE FEE. The Licensee shall pay to the Ditch Company a license fee of S150 (license feel upon execution of this Agreement. This license fee shall be in addition to any other costs for which the Licensee is responsible pursuant to this Agreement. This Agreement applies only to the specific project located and described in Exhibits A and B. 5. INSPECTION. 5.1 The Licensee shall notify the Ditch Company at least five (5) working days prior to commencement of construction of the project, or replacement or repair of the project permitted by this Agreement. The Ditch Company is permitted to inspect the project of replacements and repairs during construction. Upon completion of the project, the Ditch Company's engineer may inspect the project and verify compliance with Exhibit B. 5.2 The Ditch Company's right to inspect the Licensee's construction or replacement of the project In no way relieves the Licensee of its liability for improper construction. The Ditch Company's inspection is solely for the benefit of the Ditch Company and creates no obligation to the Licensee. 6. REIMBURSEMENT OF EXPENSES. The Licensee agrees to reimburse the Ditch Company (or pay directly) for all reasonable engineering, legal, administrative and recordation costs Incurred 2 97.1.07,'7 by the Ditch Company in approving this Agreement and Exhibits, and the costs of inspection as described in ¶5. Costs chargeable to Licensee shall be paid within 30 days of the billing date. 7. WATER LOSS. The Licensee agrees that the construction as set forth in Exhibit B will not increase carriage or transit loss over the loss which occurred historically. The Licensee agrees to compact earth materials so that such additional water losses will not occur. If the Licensee's construction increases carriage or transit loss in the Ditch, the Licensee agrees to repair the construction to prevent such additional loss and to replace the lost water to the Ditch Company. 8. MAINTENANCE. Until such time as a Land Owners Association(LOA) is established, the Licensee agrees to maintain, repair and replace the construction licensed herein as necessary. With the establishment of the LOA, the responsibility for the maintenance, repair, or replacement of the project shall be transferred to the LOA. The LOA shall be the Licensee from that point. If the project is not properly maintained, repaired or replaced, the Ditch Company may give notice to the Licensee in writing of such condition, and the Licensee shall correct such defect or hazard within ten (10) days. If proper correction is not made within the ten-day period, the Licensee shall have breached this Agreement and the Ditch Company can avail itself of all remedies, including, but not limited to, correcting the defect itself and collecting its expenses of correction from the Licensee. If, as a result of the Licensee's failure to maintain, repair or replace the project, the Ditch Company's operations are interrupted, the liquidated damages provision in ¶3.4 above will apply. 9. LIABILITY AND INDEMNIFICATION 9.1 By virtue of entering into this Agreement, the Ditch Company: a. assumes no liability for use, operation, or existence of the Licensee's project; b. assumes no additional responsibilities or obligations related to the Licensee's future or additional activities within the area described in Exhibit A which are required by this Agreement. and 9.2 The Licensee agrees to indemnify and hold harmless the Ditch Company, its directors, officers, agents, employees, and contractors, from all claims and liability for damage or injury to property or persons arising or caused directly or indirectly by the Licensee's construction, restoration, maintenance or, failure to maintain, the project and Licensee's occupancy and use of the land described in Exhibit A. 3 971.077 10. EASEMENT RIGHTS. The licensee agrees to provide by a recorded plat to be recorded with Weld County an easement eighty (80) feet in width, and in most cases forty (40) feet each side of the realigned "Ditch". The Ditch Company agrees to sign the plat with a statement that they will accept the easement as shown on the plat and vacate any existing easement line outside of this easement dedication. The license granted to Licensee herein in no way restricts the Ditch Company's right to the historic use of its easement to construct, operate, or maintain all existing structures and facilities of the Ditch Company until such time as the ditch is realigned and the plat has been recorded. 11. ASSIGNMENT. This Agreement shall not be assigned or delegated except with the prior written consent of the parties. 12. NOTICES. Any notice required or permitted by this Agreement shall be in writing and shall be deemed to have been sufficiently given for all purposes if hand delivered at the following addresses or sent by certified or registered mail, postage and fees prepaid at the following addresses. Said notice shall be deemed to have been given when hand delivered or mailed. TO DITCH COMPANY: LICENSEE: Baugh Lateral Ditch Company Attention: President 4309 Highway 66 Longmont, Colorado 80504 Zeek Partnership, Ltd., a Colorado Partnership 14504 I-25 Frontage Rd. Longmont, CO 80504 Attn: Ken Williamson WITH COPY TO: WITH COPY TO: 13. EXHIBITS. All exhibits referred to in this Agreement are, by reference, incorporated in this Agreement for all purposes. 14. PARAGRAPH CAPTIONS. The captions of the paragraphs are set forth only for convenience and reference, and are not intended in any way to define, limit or describe the scope or intent of this Agreement. 4 9i1.0d''7 15. ADDITIONAL DOCUMENTS OR ACTION. The parties agree to execute any additional documents and to take any additional action necessary to carry out this Agreement. 16. INTEGRATION AND AMENDMENT. This Agreement represents the entire agreement between the parties and there are no oral or collateral agreements or understandings. This Agreement may be amended only by an instrument in writing signed by the parties. 17. DEFAULT. Time is of the essence, and if any payment or any other condition, obligation or duty is not timely made, tendered or performed by either party, then this Agreement, at the option of the party who is not in default, maybe terminated by the non -defaulting party, in which case, the non -defaulting party may recover such damages as may be proper. If the non -defaulting party elects to treat this Agreement as being in full force and effect, the non -defaulting party shall have the right to an action for specific performance or damages, or both. 18. WAIVER OF BREACH. The waiver by any party to this Agreement of a breach of any term or provision of this Agreement shall not operate or be construed as a waiver of any subsequent breach by any party. 19. ATTORNEY'S FEES. If the Licensee breaches this Agreement, the Licensee shall pay all of the Ditch Company's reasonable attorneys' fees and costs incurred in enforcing this Agreement, whether or not legal proceedings are instituted. 20. BINDING EFFECT. This Agreement shall inure to the benefit of, and be binding upon, the parties and their respective legal representatives, successors, and assigns; provided, however, that nothing in this paragraph shall be construed to permit the assignment of this Agreement except as otherwise specifically authorized in this Agreement. This Agreement shall be recorded at the expense of the Licensee. Neither the validity of this Agreement nor the obligations and benefits to the parties shall be affected by the failure to record Exhibit B. 21. GOVERNING LAW. This Agreement shall be governed by the laws of Colorado. 22. COUNTERPARTS. This Agreement may be executed in several counterparts and, as so executed, shall constitute one Agreement, binding on all the parties even though all the parties have not signed the same counterpart. Any counterpart of this Agreement which has attached to it separate signature pages, which altogether contain the signatures of all the parties, shall be deemed a fully executed instrument for all purposes. 5 971.077 DATED: STATE OF COLORADO ) )SS COUNTY OF WELD ) nntary l3 ,1997 By: BAUGH LATERAL DITCH COMPANY, a mutual ditch company President 7 The foregoing instrument was acknowledged before me this /3t day of inn u y , 1199.6, by >1,cIC SP,lCh fr. , as President and '],,r ', zf 4,Ino ids as Secretary, of the BAUGH LATERAL DITCH COMPANY, mutual ditch company.✓ Witness my hand and official seal. My commission expires Auousf 23, 1999 ATTEST: /9 .vim.. Secretary STATE OF COLORADO) )SS COUNTY OF WELD ) ZEEK PARTNERSHIP, LTD., A COLORADO PARTN ERSHIP By Its The foregoing instrument was acknowledged before me this rTL e Witness my hand and official seal. My commission expires 6 j day oP, 199(1by 971077 Exhibit A Legal description of 80.00 feet wide easement for the Baugh Lateral Ditch on, over, and across a portion of Rademacher Business Park PUD according to the plat on file in the office of the Clerk and Recorder, county of Weld, state of Colorado also being on , over and across a portion of the Northwest Quarter of Section 23, Township 3 North, Range.68 West of the 6th P.M., Weld County, Colorado. Said 80.00 feet wide easement shall be 40.00 feet each side measured at right angles and parallel with the following description centerline. The side lines of this said easement shall be prolonged or foreshortened so as to terminate on the West and East lines of said Rademacher Business Park PUD. Beginning at the Northwest corner of said Section 23 and considering the West line of the Northwest Quarter of said Section 23 as bearing South 00°16'52" East and with all bearings contained herein relative thereto; thence South 40°02'02" East 78.19 feet to the Northwest corner of said Rademacher Business Park PUD; thence along said West line South 00°16'52" East 290.69 feet to the TRUE POINT of BEGINNING. Said True -Point of Beginning being a point on the centerline of said casement; thence departing said West line and along said centerline the following courses and distances; South 76°15'40" East 49.84 feet; thence South 53°54'49" East 127.32 feet; thence South 50°29'53" East 137.02 feet; thence South 66°37'28" East 546.52 feet to the beginning of a tangent curve concave to the Northeast having a central angle of 28°28'52" and a radius of 570.00 feet; thence Southeasterly along the arc of said curve 283.34 feet to the end of said curve thence tangent -from said curve North 84°53'40" East '782.42 feel to the beginning of a tangent curve concave,.to the Sohthwest having a central angle of 95°24' 10" and. a radius of 130.00 feet; thence Southeasterly along the arc of said curve 216.46 feet to the end of said curve. Said end of curve being the beginning of a tangent reverse curve concave, to the Northeast having a central angle of 48°14'57" and a radius of 140.00 feet; a radial line passing through said point bears North 89°42' 10" West; thence Southeasterly along the arc of said curve 117.89 feet to the end of said curve; thence tangent from said curve South 47°57'07" East 699.47 feet to the Easterly terminus of said easement. 971077 Exhibit "C" (Supplement to Paragraph 3.3) However, Licensee agrees that by March 1, 1997 the ditch must be constructed to such an extent that the ditch is available for purposes of delivering water to its shareholders in the capacity as indicated by Exhibit "B". The parties hereto understand that the Ditch Company may run water in the ditch as early as March 1, 1997 and it is required that construction be completed upon the ditch such that water can run through the ditch and be delivered by March 1, 1997. If the ditch is not capable of running and delivering water by March 1, 1997, in addition to the damages as provided in Paragraph 3.4, Licensee shall immediately install and operate, at Licensee's sole expense, an alternative delivery or pumping system which will temporarily by-pass the construction project and provide flow and delivery of water to the historical full capacity of the ditch. 971077 IMPROVEMENTS AGREEMENT ACCORDING POLICY REGARDING COLLATERAL FOR IMPROVEMENTS •- (PRIVATE ROAD MAINTENANCE) THIS AGREEMENT, made and entered into this day of by and between the County of Weld, State of Colorado, acting throe its rd of County 11 Commissioners ,.hereinafter called -"County",andZpe -?0.'�vs5 ;pL+AaP\ Cato do<- hereinafter called "Applicant" -.-b, WITNESSETH: v WHEREAS, Applicant is the owner of or has a controlling interest in the following described property in the County of Weld, Colorado: 9 Lots 1 through 9 and Lots 11 through 14, Block 1 and S Lots 1 through 10 Block 2, Rademacher Subdivision,. According to the Plat Recorded Thereof WHEREAS, a final subdivision/PUD plat of said property, to be known as ( "` "has been submitted to the County for approval; and WHEREAS,a.C.T-C)000, �: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, plats 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 of'this'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, d&nstruction supervision; -- and the submission of necessary documents to the County., 971077 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. Applicant shall furnish one set of reproducible "as -built" drawings and a final statement of construction cost to the County. 2.0 Rights -of -Way and Easements: Before commencing the construction of any improvements herein agreed upon, Applicant shall acquire, at its own expense, - good and sufficient rights -of -way and easements on all landsand facilities traversed by the proposed improvements. 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 "B" also attached hereto and made a part hereof by this reference. 3.1 Said construction shall be in strict conformance to the plans and drawings approved by the.County and the specifications adopted by the County for such -public improvements. Whenever a subdivision is proposed within three miles of an incorporated community located in Weld County or located in 'any adjacent county, the Applicant shall be required to install improvements -in accordance with the requirements and standards that would exist if the plat were developed 'within corporate limits;o, the �p f that community, If the incorporated community has not adopted such requirements and standards at the time the subdivision is proposed, the requirements and standards of the County shall be adhered to. If both the incorporated community an the County have requirements and standards, those requirements and standards that are more restrictive shall apply. • 3.2 Applicant shall employ,. at its own expense, a qualified testing company previously approved by the County to perform all testing of. materials or construction that is required by the County; and shall furnish -copies of test results to the County. 3.3 At all -times during said construction, the County shall have the right to test and inspect or to require testing and inspection of material and work at Applicant's'expense. Any material or work not conforming to the approved plans and specifications shall be removed and replaced to the satisfaction of the County at Applicant's expense. 3.4 The Applicant shall furnish proof that proper arrangements have been made for the installation- of sanitarysewer or septic systems, water, gas, electric and telephone services. 971077 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 against the County on account of any such suit, action or claim, together with all reasonable expenses and attorney fees incurred by County in defending such suit, action or claim whether the liability, loss or damage is caused by, or arises out of the negligence of county or its officers, agents, employees, or otherwise except for the ifability, loss, or damage arising from the intentional 'tarts or"the'gross negligence of the county 'or' its employees while acting within the' scope "of their employment. All contractors and other employees engdged'in construction of the improvements 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 State of Colorado governing occupational safety and health. (THERE IS NO SECTION 5) 6.0 Approval of.Streets by the County: Upon compliance with the following procedures by the Applicant, streets within a subdivision may be approved by the County, as ,public,roads and will be maintained and repaired by a homeowners association or, in its absence, the owners of lots within the subdivision. " ' 6.1 If desired by the County, portions of street improvements may be placed in service when completed according to the schedule shown on Exhibit "B", but such use and operation shall not constitute an approval of said portions. • 6.2 County may, at its option, -issue building permitsfor construction>.on lots for which street improvements detailed herein have been started but not completed as shown on Exhibit "B", and may continue to issue building permits so long as the progress of work on the subdivision improvements in that phase of the development is satisfactory to the County; and all terms of this Agreement have been faithfully kept by Applicant. 6.3 Upon conipletfon of the -construction'of streets within a subdivision and the filing of a Statement of Substantial Compliance, the applicant(s) may request in writing that the .County Engineer inspect its -streets and recommend that the Board of County Commissioners partially approve them. Not sooner than nine months after partial approval, the County Engineer shall, upon request'by the applicant, inspect the subject streets, and - 911077 notify the applicant(s) of any deficiencies. The County Engineer shall reinspect the streets after notification from the applicant(s) that any deficiencies have been corrected. If the County Engineer finds that the streets are constructed according to County standards, he shall recommend full approval. Upon a receipt of a positive unqualified recommendation from the County Engineer for approval of streets within the development, the Board` of County -Commissioners shall fully approve said streets as public but with private pay. 7.0 General Requirements for Collateral: 7.1 The value of all collateral submitted to Weld County must be equivalent to 100% of the value of the improvements as shown in this Agreement. Prior to Final Plat approval, the applicant shall indicated which of the five types of collateral he prefers to be utilized to secure the improvements subject to -final approval by the Board of County Commissioners and the execution of this Agreement. Acceptable collateral shall be submitted and the plat recorded within six (6) months of the Final Plat approval. If acceptable collateral has not been submitted within' -six (6) months then the Final Plat approval and all preliminary approvals shall' automatically expire. An applicant may request that the County extend the Final Plat approval provided the cost estimates are updated and the development plans are revised to comply with all current County standards, policies.. -and regulations. • The improvements shall be completed within one (1) year after the Final Plat approval (not one year after acceptable collateral is submitted) unless the applicant(s) 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 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 p'orfions 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 fora Request for Release of Collateral.. .. 7.3 The applicant intends to develop in accordance with Exhibits "A" and "B". 971077 E.._ 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. An irrevocable Letter of Credit from -a Federal or Statelicensed 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 "B". The Letter of Credit shall .provide for payment upon demand to Weld Countyif the developer has not performed the obligations, specified: in the Improvements Agreement and the issuer has been notified of such 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 100% of the estimated costs of completing the uncompleted portions-- of the required improvements, based . on inspections,of the development. by the improv, '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 15X, 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 itt full force and effect until after the Board has received sixty (60) days, written notice from the issuer of the Letter of Credit of the pending expiration. Said notice shall be sent by certified mail to the Clerk to the Board of County Commissioners. 8.2 Trust Deed upon —all or some of the proposed development or other property acceptable to the Board of County Commissioners provided that the following are submitted: 971077. 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 M.A.I. member of the American Institute of Real Estate Appraisers indicating that the value' of the property encumbered in its current degree of - d'evel'opment 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 M.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 cost of the improvements as set forth in the Improvements Agreement plus all costs ofsale of the property. A title insurance policy insuring that the Trust Deed creates 'a valid encumbrance which is senior to all` other liens and" encumbrances: ' A building permit hold shall be placed on the encumbered property. 8.3 Escrow Agreement that provides at least tbe,_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 b.e 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, shall release any remaining escrowed funds to the County. 8.4 A surety bond given by a corporate surety authorized to do business in the State of Colorado in an amount equivalent to 100% of the value of the improvements as specified in the Improvements Agreement. 8.5' A gash deposit'iade with the County equivalent td -100X of the value of the improvements. 971077 9.0 Request for Release of Collateral: Prior to release of collateral for the entire project or for a portion of the project by Weld County, the Applicant must present a Statement of Substantial Compliance from an Engineer registered in Colorado that the project or a portion of the project has been completed in substantial compliance with approved plans and specifications documenting. -the following: 9.1 The Engineer or his representative has made regular on -site inspections during the 'Course of construction and the construction plans utilized are the same as those approved by Weld County. 9.2 Test results must be submitted for all phases of this project as per Colorado Department of Highway Schedule for minimummaterials i 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 plans and specifications as approved or, that. any material deviations have received prior approval from the County Engineer. 9.4 The Statements of Substantial Compliance must be accompanied, if appropriate, by a letter of acceptance of maintenance and responsibility by the appropriate utility company, special district or town for any utilities. 9.5 A letter must be submitted from the appropriate Fire Authority indicating the fire hydrants are in place in accordance with the approved plans. The letter shall indicate if the fire hydrants are operational and, sta.e the results of fire flow tests. 9.6 The requirements in 9.0 through 9.5 shall be noted on the final construction plans. -.. 9.7 Following the submittal of the Statement of Substantial Compliance and recommendation of approval of the streets by the. County, the appl'icadt(s) may -request release'of the 'dollatera'1"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 LOX of the value of the improvements as shown in this Agreement excluding improvements.fully accepted for maintenance by the responsible governmental entity, special district or utility company. 9.9 The warranty collateral shall be released to the applicant upon final approval by the Board of County Commissioners. 971077 10.0 Public .Sites..and"Dpen:Spaces'. When the Board':of County Commissioners, pursuant to a rezoning, subdivision or planned unit"development,'requires the dedication, development and/or reservation of areas or sites other than subdivision streets and utility easements of a character, extent and location suitable for public use for parks, greenbelts or schools, said actions shall be secured in accordance with one of the following alternatives, pr as specified in the PUD plan, if any:_.,,, 10.1 The required acreage as may be determined 'according to the Weld.. County Subdivision Regulations shall be dedicated to the County or the appropriate school district, for one of the above purposes. Any area so dedicated shall be maintained by the County or school district. 10.2 The required acreage as determined according to the Weld County Subdivision Regulations, may be reserved through deed restrictions as open area, the maintenance of which shall be a specific obligation in the deed_:of each lot withixi„the subdivision,, 10.3 In lieu of land, the County may require a payment to the County in an amount equal to the market value at the time of final plat submission of the required acreage as determined according to the Subdivision Ordinance. Such value shall be determined by a competent land appraiser chosen jointly by the Board and the Applicant. The —cash collected' shall be deposited in an escrow account to he expended for parks at a later. date. 11.0 and Assigns: This Agreement shall'be binding upon personal representatives, successors and assigns and upon recording by the County,shall be deemed a th the land herein described., and shall be binding in ownership of said land. Successors executors, Applicant, running wi successors the heirs, of the covenant upon the IN WITNESS WHEREOF; the parties hereto have caused this Agreement executed on the day and year first above written. to be • 971077 ,,.,IMPROVEMENT AGREEMENT PRIVATELY MAINTAINED ROADS BOARD.OF COUNTY COMMISSIONERS WELD COUNTY, -COLORADO ATTEST: Weld County Clerk to the Board BY: Deputy Clerk co the Board APPROVED As TO FORM: County Attorney APPLIdANT ZeCki Pnr'Jlwr.Shi�oy kite (title). .6,7;.t)Aktr,,~,,.)_ Subscribed and sworn to before me this day of My Commission expires: aprivate.db , 1997 Notaty Public 971077 EXHIBIT "A" Street lighting Street name signs Fencing requirements Landscaping Park improvements .Road Culvert , Grass Lined Swale Telephone Gas Electric Name of Subdivision: `.d_,25 Business Park Filing: Location: NW 1/4, Sec. 23 -- T. 3 N.. Range 68 West Intending to be legally bound, the undersigned Applicant hereby agrees to provide throughout this subdivision and as shown on the subdivision, final plat County dated , 19 , recorded on 19____, in Book , Page No. Reception No. the following improvements. -• (Leave spaces blank where they do not apply) Improvements Unit Cost Estimated Construction Cost Street grading $ 2.50/ C.Y. $ 55.000.00 Street base Street paving 11 !1 41 sa '—' s1(XXsXiICtK�s3CtX X& culverts 3n p0/ £ 11 .250.00 Sidewalk Storm' sewer facilities Retention ponds Ditch improvements Subsurface drainage .Sanitary sewers Sanitary sewer!: Trunk & forced lines Mains Laterals (house connected) On -site sewage -facilities On -site water supply & storage Water mains -Includes Bore 20.00/Ft. Fire hydrants 2,200.00/Ea. Survey & street monuments & boxes 2;000.00/Ea. 250.00/Ea. '1Oron.no/ Ea 6,nnn nn 2.00/S.F. 375.001 Ft_ 5.00/Ft. 7511 0LV Lp.t 150:800.00' 26.400.00 16.000.00 750.00 100.000.00 93.750.00 15.000.00 18,750 00 1.500..00/Lot 37,500.00 Water Transfer SUB -TOTAL $744,100.00 Engineering and Supervision Costs 24,000.00 (testing, inspection•,• as -built plans and 'work in addition to preliminary and final plat; supervision''of actual construction by contractors) • 97 077 TOTAL ESTIMATED COST OF IMPROVEMENTS AND SUPERVISION $ 768,100.00 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 im rovements shall be comp eted according to the_ construction schedule set out in xhibit "B" i ,20“ (fn corporatidn, to be signed by President and attested to by Secretary, together with corporate seal.) Lee 6r4'ers4t .LTD p mlStM4J Date: ,,,J 7. , 19 97. 971077 EXHIBIT "B" Name of Subdivision: Filing: 1-25 Business Park Location: N.W. 1/4,,Sec..23 - T. 3 N., R 68 W Intending construct to be legally bound, the undersigned Applicant hereby agrees to the improvements shown on the final subdivision plat of Subdivision, dated Book schedule. , 19 , PageL o . . , Recorded on , 19 , in ,-Reception No. ,'the following All improvements shall be completed within approval of the final plat. 5 years from the date of Construction of the improvements listed in Exhibit "A" shall be completed as follows: (Leave spaces blank where they do not apply.) Improvements .Time for Completion Site grading 6-1-97 Street base Street paving Curbs. gutters, and culverts Sidewalk Storm sewer. facilities 1-1-99 6-1-97 6-197 Retention ponds Ditch improvements Subsurface drainage Sanitary sewers Trunk and forced lines Mains Laterals (house connected) On -site sewage facilities On -site water supply and storage Water mains Fire hydrants Survey & street monuments & boxes Street lighting Street name signs Fencing requirements Landscaping Park improvements Telephone 1-1-98 1-1-98 1-1-99 6-1-97 1-1-98 Gas Electric Water Transfer Sub -Total The County, at its option, and upon the req st by the Applicant, may grant an extension of time for completion for any p rticular im ovements shown above, upon a showing by the Applicant that the ove s,chedtil cannot be met. 1-1-99 1-1-99 1-1-99 (If corporation, to be signed by Pr ident and attested to by Secretary, together with corporate seal.) Date: ��ti/avC , 19 f7. 974 77 DECLARATION OF COVENANTS, CONDITIONS AND RESTRICTIONS OF I-25 BUSINESS PARK A PLANNED COMMUNITY 971077 TABLE OF CONTENTS PREAMBLE DEFINITIONS Property Rights 2.01 Owner's Easement 2.02 Delegation of Use 2.03 Declarant's Easements 2.04 Easements for Drainage, Utilities and other Purposes 2.05 Infrastructure Development Plan 2.06 Recorded Easements, Licenses and other Matters Membership - Association 3.01 General Purposes and Powers 3.02 Articles and Bylaws: Applicability of the Act 3.03 Membership 3.04 Voting Interest and Allocation of Common Expenses 3.05 Reservation 3.06 Indemnification 3.07 Rights of the Association Assessments 4.01 Creation of the Lien and Personal Obligation of the Assessment 4.02 Purpose of the Assessments 4.03 Annual Assessments 4.04 Maximum Annual Assessments 4.05 Special Assessments 4.06 Notice and Quorum Required to Assess a Special Assessment 4.07 Uniform Manner of Assessments 4.08 Date of Commencement of Assessments: Prorations: Due Date 4.09 Non -Payment, Remedies of the Association 4.10 Capital Fund 4.11 Specific Approval Required 4.12 Reconstruction Assessments 4.13 Individual Assessments and Fines Architectural Control Committee 5.01 Approval of Improvements Required 5.02 Members of ACC 5.03 Decision of ACC 5.04 Criteria for Approval 5.05 Appeal to the Executive Board 5.06 Failure of ACC to Act on Plans 5.07 Noncompliance 5.08 No Implied Waiver 5.09 Nonliability for Committee Action 5.10 Basic Specifications Restrictive Covenants 6.01 General Plan 6.02 Use of Properties 6.03 Uses Permitted 6.04 General Restrictions 1 1 4 4 5 6 6 6 6 6 6 7 7 7 7 8 8 10 10 10 10 11 12 12 12 12 13 15 15 15 15 15 15 16 16 16 17 17 17 17 18 18 18 18 19 19 19 971077 6.05 Prohibited Uses 6.06 Oil and Mining Operations 6.07 Construction Facilities 6.08 Destruction of Residences on Units 6.09 Animals 6.10 Miscellaneous Improvements 6.11 Vehicular Parking, Storage and Repairs 6.12 Nuisances 6.13 No Hazardous Activities 6.14 No Annoying Sounds or Ordors 6.15 Restrictions on Trash and Materials 6.16 Minor Violations of Setback Restrictions 6.17 Rules and Regulations 6.18 Units to be Maintained 6.19 Maintenance of Grade and Drainage Insurance 7.01 Coverage 7.02 Physical Damage Insurance 7.03 Rebuilding of Damaged Areas 7.04 Liability Insurance 7.05 Other Insurance 7.06 Payment of Insurance Premiums 7.07 Coverage on Owner's Units Rights of the First Mortgagees 8.01 Entitlement 8.02 Payment of Charges 8.03 Restrictions 8.04 Special GNMA/FHLMC/HUDNA/FHA Provisions General Provisions 9.01 Enforcement 9.02 Damages 9.03 Duration 9.04 Amendments 9.05 Scope of this Declaration 9.06 No Representation 9.07 Books and Records 9.08 Successors and Assigns 9.09 Severability 9.10 Numbers and Genders 9.11 Designation of Maintenance Property 9.12 Registration of Mailing Address 9.13 Description of Units 19 19 19 20 20 20 20 21 21 21 22 22 22 22 22 23 23 24 25 26 26 27 27 27 27 28 28 29 30 30 30 30 31 31 31 31 31 31 31 31 32 32 97107'7 CONDITIONS AND RESTRICTIONS FOR I-25 BUSINESS PARK PREAMBLE THIS DECLARATION, made on the date hereinafter set forth, by ZEEK PARTNERSHIP, LTD, A Colorado Limited Partnership hereinafter referred to as "Declarant." WHEREAS, Declarant is the owner of certain real property located in the County of Weld, State of Colorado, hereinafter referred to as Properties and as more particularly described on Exhibit A attached hereto and incorporated herein by reference. WHEREAS, Declarant desires to subject and place upon Properties certain covenants, conditions, restrictions, easements, reservations, rights -of -way, obligations, liabilities and other charges set forth herein for the purpose of protecting the value and desirability of said property and for the purpose of furthering a plan for the improvement, sale and ownership of said property as a planned community to the end that a harmonious and attractive development of said property may be accomplished and the health, comfort , safety, convenience and general welfare of owners in said property, or any portion thereof, may be promoted and safeguarded. NOW, THEREFORE, Declarant hereby declares that the Properties described herein shall be held, sold, and conveyed subject to the following easements, covenants, conditions, restrictions, uses and obligations, all of which are to be for the purpose of protecting the value and desirability of the Properties described and which shall be binding upon all persons having any right, title or interest in the described Properties or any part thereof, their heirs, grantees, successors, representatives and assigns and shall inure to the benefit of each owner thereof and that the common interest community formed hereunder shall be formed as a planned community. ARTICLE I Definitions As used in this Declaration, unless the context otherwise requires, the terms hereinafter set forth shall have the following meanings: 1.01 "Act" means the Colorado Common Interest Ownership Act, C.R.S. 38-33.3-101, et seq., as amended. 1.02 "Affiliate of a Declarant" means any person who controls, is controlled by, or is under common control with a Declarant. A person controls a Declarant if the person: is a general partner, officer, director or employee of the Declarant; directly or indirectly, or acting in concert with one or more other persons or through one or more subsidiaries, 971077 owns, controls, holds with power to vote, or holds proxies representing more than twenty percent (20%) of the voting interests of the Declarant; controls in any manner the election of a majority of the directors of the Declarant, or has contributed more than twenty percent (20%) of the capital of the Declarant. A person is controlled by a Declarant if the Declarant: is a general partner, officer, director or employee of the person; directly or indirectly, or acting in concert with one or more other persons or through one or more subsidiaries, owns, controls, holds with power to vote, or holds proxies representing more than twenty percent (20%) of the voting interests of the person; controls in any manner the election of a majority of the directors of the person; or has contributed more than twenty percent (20%) of the capital of the person. Control does not exist if the powers described in this subsection are held solely as security for an obligation and are not exercised. 1.03 "Allocated Interests" means the Common Expense Liability and votes in the Association allocated to each Unit. The Allocated Interest for each Unit shall be a fraction, the numerator of which is one (1) and the denominator of which is the total number of Units then within the Common Interest Community; provided that the Allocated Interest for each Unit is subject to decrease with the annexation of additional property to this Common Interest Community as provided in Section 38-33.3-221 of the Act. 1.04 "Architectural Control Committee" or "ACC" means the committee appointed by the Declarant or by the Association to review and approve or disapprove plans for Improvements, as more fully provided in this Declaration. 1.05 "Association" shall mean I-25 Business Park Association, a Colorado Non-profit Corporation, its successors and assigns. 1.06 "Builder" means any person or entity who constructs a commercial dwelling unit on any previously unimproved Unit within the Property. 1.07 "Bylaws" shall mean any instrument which is adopted by the Association for the regulation and management of the Association, including any amendments to these instruments. 1.08 "Common Areas" shall mean and refer to the property and improvements, together with all roads, streets, fences, rights -of -way and easements located within the Properties which are to be owned and/or maintained by the Association for the common use, benefit and enjoyment of the Unit Owners. Common Areas known at the time of the execution of this Declaration are described on Exhibit B attached hereto. Additional improvements or property may be added as Common Areas as approved by the Executive Board for the Association and as shown on a recorded map which shows such additional Common Areas. 1.09 "Common Interest Community" or "Planned Community" means real estate described in this Declaration, as supplemented and amended from time to time, with 2 971077 respect to which a person, by virtue of such person's ownership of a Unit, is obligated to pay for real estate taxes, insurance premiums, maintenance or improvement of other real estate described in this Declaration. 1.10 "Declarant" shall mean Zeek Partnership LTD a Colorado Partnership and its successors or assigns, if such successors or assigns shall acquire any portion of the Properties described for the purpose of development and be designated by the Declarant or a successor Declarant, as a Declarant by a duly recorded written instrument. Any such written designation by the Declarant may include the right of redesignation by such successor or further successors. 1.11 "Declaration" shall mean this Declaration of Covenants, Conditions and Restrictions of I-25 Business Park as same may be amended from time to time. 1.12 "Development Rights" means any right or combination of rights reserved by Declarant hereunder including the following: (a) To add real property to be covered under the terms of this Declaration; (b) To create additional Units, Common Areas within the real property covered under the terms of this Declaration; (c) To withdraw real estate from being subject to the terms of this Declaration. 1.13 "Executive Board" shall mean the Executive Board of the Association, duly elected pursuant to the Bylaws of the Association or appointed by the Declarant as therein provided or provided in this Declaration. 1.14 "First Mortgage" shall mean any person, corporation, partnership, trust, company, association, or other legal entity which owns, holds, insures or is a governmental guarantor of a mortgage or deed of trust, which mortgage or deed of trust is a first and prior lien encumbering a Lot or Parcel within the Properties described. 1.15 "Lot" shall mean and refer to any plot of land shown upon recorded subdivision plat or later amended plats of a subdivision as a subdivided lot within the Properties and which is subject to this Declaration, with the exception of the Common Areas, Maintenance Property, public streets or other public property. Lot shall include any dwelling Unit or structure constructed thereon. 1.16 "Maintenance Property" shall mean that portion of the Properties described, including all improvements thereon, owned or to be owned by the Association upon which the Association has responsibility for maintenance as more fully described on Exhibit C attached hereto and incorporated herein by reference or which is included as Maintenance Property in a later amended Declaration for this Common Interest Community. As more 3 971077 specifically set forth in Article IX, Section 9.11, hereinbelow, the Maintenance Property does not have any intrinsic recreational value. 1.17 "Member" shall mean all those who are members of the Association as provided in this Declaration. 1.18 "Plat" shall mean the Amended Plat of I-25 Business Park a copy of which is being recorded simultaneously herewith. 1.19 "Properties" shall mean the entire real property and the improvements located thereon as more fully described on Exhibit A attached hereto. 1.20 "Security Interest" means an interest in real estate or personal property created by contract or conveyance which secures payment or performance of an obligation. The term includes a lien created by a mortgage, deed of trust, trust deed, security deed, contract for deed, land sales contract, lease intended as security, assignment of lease or rents intended as security, pledge of an ownership interest in an association, and any other consensual lien or title retention contract intended as security for an obligation. 1.21 "Special Declarant Rights" means rights reserved for the benefit of Declarant to complete improvements indicated on plats and maps filed with the Declaration; to exercise development right, according to the Colorado Common Interest Ownership to maintain sales offices, management offices, signs advertising the Common Interest Community, and models; to use easements through the common elements for the purpose of making improvements within the Common Interest Community or within real estate which may be added to the Common Interest Community; to make the Common Interest Community subject to a master association; to merge or consolidate a Common Interest Community of the same form of ownership; or to appoint or remove an officer of the association or any Executive Board member during any period of Declarant control. 1.22 "Unit" means a physical portion of the Common Interest Community which is designated for separate ownership or occupancy as a Lot and the boundaries of which are described in or determined from the recorded subdivision plats within the Properties. 1.23 "Unit Owner, Lot Owner or Owner" means the Declarant or other person who owns a Unit, but does not include a person having an interest in a Unit solely as security fof an obligation. The Declarant is the owner of any Unit created by the Declaration until that Unit is conveyed to another person. ARTICLE II Property Rights 2.01 Owner's Easements: Every Unit owner shall have the non-exclusive right and easement of use and enjoyment in and to any Common Areas related to this Declaration (hereinafter referred to as Common Areas) and the benefit from Maintenance Property 4 971077 located within or adjacent to the Properties and improvements thereon, which shall be appurtenant to and shall pass with the title to every Lot, subject to the following provisions: (a) The right of the Executive Board to charge reasonable admission and other fees for the use of any recreational facility situated upon the Common Areas or Maintenance Property; (b) The right of the Association through its Executive Board to make such use of the Common Areas or Maintenance Property as may be necessary or appropriate for the performance of its duties and functions which it is obligated or permitted to perform under this Declaration; (c) The right of the Executive Board, in its sole discretion, to grant easements and rights of way on, across, under and over the Common Areas or Maintenance Property to any entity providing water, sewer, gas, electricity, telephone, cable television, or other similar service to the Properties; (d) The right of the Executive Board to make reasonable rules and regulations regarding the use and upkeep of the Common Areas or Maintenance Property and facilities located thereon; (e) The right of the Executive Board to dedicate or transfer all or any part of the Common Areas or Maintenance Property to any public agency, authority, or utility for such purposes and subject to such conditions as may be agreed to by the Members. No such dedication or transfer shall be effective unless an instrument agreeing to such dedication or transfer signed by two-thirds of the Members has been recorded; (f) The right of the Association to close or limit the use of the Common Areas or Maintenance Property or portions thereof for any reasonable purpose; provided, however, the Association shall not deny a Unit Owner ingress or egress to that Owner's Unit. 2.02 Delegation of Use: Any owner may delegate his or her right of enjoyment of the Common Areas or Maintenance property to his tenants, contract purchasers or guests. All Owners shall comply strictly with and cause all tenants, purchasers or guests to comply with this Declaration, the Articles of Incorporation, the Bylaws of the Association, and the decisions, rules, regulations and resolutions of the Association. Each Owner shall be fully responsible for the actions of their guests. 5 971077 2.03 Declarant's Easements: Easements are hereby reserved to the Declarant in and to the Common Areas and Maintenance Property as may be reasonably necessary for the purpose of discharging any of Declarant's obligations or exercising any Special Declarant Rights. 2.04 Easements for Drainage, Utilities and Other Purposed: Easements for the installation and maintenance of utilities, drainage facilities, pedestrian walkways, landscaped areas, planned community identifying signage and miscellaneous public or private improvements and access thereto are reserved as shown on the recorded plats affecting the Units and any amendments to such plats or as established by any other instrument of record. 2.05 Infrastructure Development Plan: The initial infrastructure improvements being constructed and/or installed by the Declarant are limited to: (a) SEE EXHIBIT A (b) Such streets, general utility connections, distribution lines, and other improvements as are reasonably required to furnish all lots with water, electrical, natural gas and telephone service. Declarant expressly DISCLAIMS any and all warranties and representations, express or implied, regarding the date upon which the remainder of any infrastructure improvements as depicted on the plat of I-25 Business Park will, IF EVER, be completed. The foregoing disclosure of Declarant's infrastructure development plan is provided for informational purposes only. It is specifically intended that nothing contained in this Declaration shall have the effect of either altering, amending, modifying, accelerating or otherwise increasing any liability or obligation of Declarant in connection with the construction of any streets, utility improvements, drainage facilities or other general infrastructure improverMlents required to be installed pursuant to any annexation or development agreement with Weld County, Colorado, or by applicable statutes and any rules, regulations or other requirements of governmental authorities having jurisdiction. 2.06 Recorded Easements, Licenses and Other Matters: This Common Interest Community is subject to the recorded easements, licenses and other matters listed on Exhibit D attached hereto and incorporated herein by this reference. ARTICLE III Membership - Association 3.01 General Purposes and Powers: The Association, through the Executive Board, shall perform management functions as provided in this Declaration. Any purchaser of a Unit or a parcel within the Properties shall be deemed to have assented to, ratified and approved such designations and management. The Association shall have all the power necessary or desirable to effectuate such purposes. 6 971077 3.02 Articles and Bylaws: Applicability of the Act: The purposes and powers of the Association and its rights and obligations set forth in this Declaration may be amplified by provisions of the Articles of Incorporation and Bylaws of the Association. In the event either the Articles or Bylaws conflict with the Declaration, the Declaration shall control. In the event the Articles conflict with the Bylaws, the Articles shall control. In all cases, however, the provisions of the Colorado Common Ownership Act shall govern in the event of any conflict between the provisions of either this Declaration or the Articles of Incorporation and Bylaws of the Association. 3.03 Membership: Every record Owner of a fee interest in any Unit which is subject to an Annual Assessment shall be a Member of the Association, including contract sellers; provided that any such person or entity who holds such interest merely as a security for the performance of an obligation shall not be a Member. Record ownership of a Unit shall be the sole qualification for such membership. Where more than one person holds interest in any Unit, all such persons shall be Members in proportion to their share of ownership in the Unit. If only one of the multiple Owners is present at any meeting of the Association where Members are entitled to cast their votes, such Owner is entitled to cast the entire vote for such Unit. If more than one Owner is present, the vote for such Unit may be cast only in accordance with the agreement of a majority in interest of the Owners with a majority agreement in existence of one Owner casts the vote without protest being made promptly by any of the other Owners of said Unit. 3.04 Voting Interest and Allocation of Common Expenses: The Association shall ttave one class of voting membership. Members shall be all Owners and shall be entitled to one vote for each Unit owned. The vote for such Unit, the ownership of which is held by more than one Owner, shall be exercised as they determine between themselves. Should the joint owners be unable, within a reasonable time, to agree upon how they will vote any issue, they shall be passed over and the right to vote on such issue shall be lost. In no event shall more than one vote be cast with respect to any one Unit. Each Unit shall have allocated to it a percentage of the common expenses of the Association and voting interest equivalent to one Unit in relation to the total number of Units. Units owned by Declarant shall not receive any special benefit relating to assessments or voting rights. If any additional Units are added so as to be covered by this Declaration, each Unit's obligation for assessments and its related voting rights shall be proportionately reduced. 3.05 Reservation: Notwithstanding the foregoing voting rights, Declarant reserves the right to appoint the Executive Board of the Association until the occurrence of one of the following events: (a) Within sixty (60) days after conveyance to Unit Owners other than Declarant, of twenty-five percent (25%) of the Units that may be created, at least one member and not less than twenty- five percent (25%) of the members of the Executive Board must be elected by Unit Owners other than the Declarant. 7 971077 (b) Within sixty (60) days after conveyance to Unit Owners other than Declarant of fifty percent (50%) of the Units that may be created, not less than thirty-three and one-third percent (33- 1/3%) of the members of the Executive Board must be elected by Unit Owners other than the Declarant. (c) Within sixty (60) days after conveyance to Unit Owners other than a Declarant, of seventy-five percent (75%) of the Units which may be created, within two (2) years after the last conveyance of a Unit by the Declarant in the ordinary course of business or within two (2) years after any right to add new Units was last exercised, all members of the Executive Board must be elected by Unit Owners and no members may be appointed by Declarant. In addition, Declarant may voluntarily surrender the right to appoint members of the Executive Board, but in such event, may continue to require Declarant's approval for certain specified actions as described in a recorded instrument executed by Declarant at such time. For the purposes of this Declaration, the maximum number of units which shall be subject to the provisions hereunder and which the Declarant reserves the right to create shall be twenty-six (26). Declarant reserves the right at any time within ten (10) years from the date this Declaration is recorded, to add additional real property to this Common Interest Community. Said additional real property is not described hereunder but shall not exceed ten percent (10%) of the total area described on Exhibit A attached hereto. The Declarant has the Special Declarant Right to sub -divide or convert units pursuant to the powers contained in the Colorado Common Interest Ownership Act at 38-33.3-210 3.06 Indemnification: The Association shall indemnify every director, officer, agent or employee, and any former director, officer, agent or employee against loss, costs, and expense, including reasonable attorney fees incurred in connection with any action, suit, or proceeding in which such person may be made a party by reason of being, or having been such director, officer, agent or employee of the Association or Executive Board. This indemnification shall not apply to acts where such person is liable for gross negligence or fraud. Any such indemnification may only be paid out of the insurance coverage furnishing Officers and Directors of the Association errors and omissions insurance coverage or similar coverage. All payments or settlements of this indemnification shall be limited to the actual proceeds of insurance policies received by the Association, however, any deductible shall be paid by the Association. Said indemnification shall not apply to any managing agent hired by the Association as an independent contractor. 3.07 Rights of the Association: 8 971077 (a) Association as Attorney -in -Fact for Owners: The Executive Board is hereby irrevocably appointed attorney -in -fact for the Owners, and each of them, to manage, control and deal with the interest of such Owner so as to permit the Association to fulfill all of its duties and obligations hereunder. The Executive Board is granted all of the powers necessary to govern, manage, maintain, repair, administer and regulate in order to accomplish its purposes under this Declaration. (b) Contracts, Licenses and Other Agreements: The Executive Board shall have the right without the consent of Owners or First Mortgagees to enter into or grant contracts, easements, licenses, leases and agreements, concerning the use of Common Areas and Maintenance Property and any improvements located thereon. (c) Implied Rights: The Executive Board shall have and may exercise any.right or privilege given to it expressly by this Declaration, or reasonably implied from the provisions of this Declaration, or given or implied by law, including those established by the Colorado Common Interest Ownership Act, or which may be necessary or desirable to fulfill its duties, obligations, rights or privileges. (d) General Authority: The Association through the Executive Board shall provide for the *maintenance and uniform development of the areas which are common to the entire Properties such as right-of-way landscaping, fencing, lighting and signage of certain streets. In addition, the Association is established to provide review for each Lot or Unit within the Properties to insure that general conformance exists with respect to certain architectural and landscaping matters, and also to carry out overall community goals, for instance, by way of example, collection of garbage; recycling; distribution of information; and to carry out other functions which the Executive Board feels in the general interest of all Unit Owners. (e) Management Agreements: Any agreement for professional management of the Association's business or an Affiliate of the Declarant shall have a maximum term of three (3) years and any such agreement shall provide for termination by either party thereto, with or without cause and without payment of a termination fee, upon not more than ninety (90) days prior written notice and shall terminate absolutely, in any event, no C) m 9 971077 later than thirty (30) days after termination of the Period of Declarant Control. ARTICLE IV Assessments 4.01 Creation of the Lien and Personal Obligation of the Assessment: The Declarant for each Unit owned, within the Properties, hereby covenants, and each Owner of any unit by acceptance of a deed therefor, whether or not it shall be so expressed in such deed, is deemed to covenant and agree to pay to the Association an Annual Assessment, and Special Assessments to be established and collected as provided hereinafter. The Annual and Special Assessments created and defined in this Declaration, together with late fees, individual assessments, interest, costs, and reasonable attorneys fees shall be a charge on the Unit they are levied against and shall be a continuing lien upon the property against which each such Assessment is levied until such Assessment or charge, together with any late fees, costs of collection , and attorneys fees are fully paid. Each such Assessment, together with late fees, interest, costs and reasonable attorneys fees shall also be a personal obligation of the person who was the Owner of such Unit or of the persons jointly and severally, who were the Owners of such Unit at the time when the Assessment became due and payable. The personal obligation for delinquent Assessments shall not pass to successors in title unless expressly assumed by them. 4.02 Purpose of the Assessments: The Assessments levied by the Association shall be used exclusively for the purpose of promoting the recreation, health, safety and welfare of the owners of the Properties and the members of the Association. In addition, said Assessments may be used for the maintenance, repair and improvement of the Common Areas and landscaping thereon, for the maintenance and repair of Baugh Lateral concrete lined irrigation ditch, as palt paved streets, and any fencing installed by either Declarant or the Association, or for maintenance, repair and improvement of the Maintenance Property or any other properties or improvements located on or adjacent to the Properties which is the responsibility of the Association, for payment of management fees, payment of insurance premiums, payment of legal, accounting and other professional services provided for the benefit of the Association, maintenance of an adequate reserve fund for repair and maintenance of Common Areas and Maintenance Property, for payment of utility charges of the Association, for the maintenance and repair of entry features, if any, constructed by Declarant, and for other expenses incurred by the Executive Board for the benefit of the Association and its members. Also, the Assessments may be used for any other purposes reasonably necessary to implement the purposes described herein, including the ability of the Association to perform acts under Section 3.07 above. 4.03 Annual Assessments: (a) Annual Assessment for Common Expenses; Allocation Amongst Unit Owners. An Assessment for common expenses shall be levied and assessed annually by the Executive Board against each 10 971077 Owner of a Unit within the planned community. Said Assessment may include the establishment and maintenance of a reserve fund for the maintenance, replacement, reconstruction and repair of those portions of the Common Areas and Maintenance Property which the Association has duty to replace, repair, maintain and/or reconstruct on a periodic basis. Such Assessment shall be paid in the proportion which the number of Units owned by a particular Owner bears to the total number of Units which have been established by the recording of a subdivision plat or plats. (b) Levy of Assessments. At least thirty (30) days prior to the close of the Association's fiscal year, the Executive Board shall determine subject to the provisions of this Declaration, the Annual Assessment which is payable by each Unit. The Annual Assessment may be later adjusted upon a finding of necessity by the Executive Board, but no more than twice in any one year. Written notice of any such Assessment or adjustment shall be sent to every Owner as such Owners are listed in the records of the Association, The omission or failure of the Board to levy any Assessment or fail to send notice shall not be deemed a waiver, modification or a release of the Owners from their obligation to pay the Assessment. (c) Non -exemption. No Owner or any person obligated to pay an Assessment may waive or otherwise escape liability for any Assessments provided for herein by non-use of the Common Areas and Maintenance Property, abandonment of his or her Unit, or by any other action. 4.04 Maximum Annual Assessment and Budget: (a) Until the effective date of an Association budget ratified by the Unit Owners with a different amount for the Annual Assessment, the maximum Annual Assessment shall be $300.00 per Unit. (b) Within thirty (30) days after adoption of any proposed budget for the Common Interest Community, the Executive Board shall mail, by ordinary first-class mail, or otherwise deliver a summary of the Association budget to all the Unit Owners and shall set a date for a meeting of the Unit Owners to consider ratification of the budget not less than fourteen (14) days nor more than sixty (60) days after mailing or other delivery of the summary. Unless at that meeting the Unit Owners casting at least sixty-seven percent (67%) of the Association votes reject the budget, the budget is ratified, whether or not a quorum is present. In the event that the proposed budget is rejected, the periodic 11 971077 budget last ratified by the Unit Owners must be continued until such time as the Unit Owners ratify a subsequent budget proposed by the Executive Board. 4.05 Special Assessments: In addition to the Annual Assessments authorized above, the Executive Board may levy a Special Assessment for the purpose of defraying, in whole or in part, the cost of any construction, reconstruction, repair or replacement of any of the Common Areas and Maintenance Property or other capital improvements of the Association, provided that any such Assessment shall have the assent of at least twenty percent (20%) of the votes of the Members who are voting in person or by proxy at a meeting duly called for this purpose. This requirement shall not apply to expenditures made by the Executive Board for repairs in the event of damage or destruction as set forth in Article VII of this Declaration. 4.06 Notice and Quorum Required to Assess a Special Assessment: Written notice of any meeting of Members called for the Purpose of levy of a Special Assessment shall be sent to all Members not less than thirty days nor more than sixty days in advance of the meeting. At such meeting, the presence of Members or of Proxies entitled to cast twenty percent (20%) of all the votes of the Membership shall constitute a quorum. 4.07 Uniform Manner of Assessment: All Annual Assessments and Special Assessments must be fixed at a uniform rate for all Units. In addition, at the option of the Executive Board, any Assessment, either Annual or Special, may be collected on a monthly or quarterly basis. 4.08 Date of Commencement of Assessments: Prorations: Due Date. The Annual Assessment provided for herein shall commence as to all Units upon the first day of the month following the conveyance of the first Unit. The Declarant shall pay all common expenses accrued prior to the date upon which the Association makes an Annual Assessment for the first time. Thereafter, the Declarant shall be liable only for the Annual Assessment due upon those Units owned by it. The initial Annual Assessment due with respect to all Units shall be prorated according to the number of months remaining in the Association's fiscal year at the time of said initial assessment. Thereafter, any Unit Owner purchasing a Unit between payment due dates shall pay a pro rata share of the last payment due. The Annual Assessment shall be due and payable on an installment basis as determined by the Executive Board. Special Assessments shall be due and payable in a manner as established by the Executive Board but may be payable on an installment basis, as so determined by the Executive Board. Written notice of all Assessments shall be sent to each Owner subject thereto specifying the type of Assessment, the amount and the date such Assessment is due. The Association shall, upon demand, and for a reasonable charge, furnish a certificate signed by an Officer of the Association setting forth whether the Assessments on a Unit 12 971077 have been paid or the amount of Assessment currently owing with respect to a Unit. The Association, the Executive Board, the Officers and the Members shall have no liability for any inaccurate information supplied under this paragraph other than as specifically set forth in C.R.S. 38-33.3-317(8). 4.09 Non-payment, Remedies of the Association. Lien Priorities: (a) All types of Assessments shall become delinquent unless paid by the due date. If any such Assessment is not paid by the due date, the Owner obligated to pay such Assessment may be required to pay a reasonable late fee, as determined by the Executive Board. Any Assessment not paid within thirty (30) days after the due date, shall bear interest from the due date at the rate of 18% per annum. The failure to make payment within sixty (60) days of the due date thereof shall cause the total amount of such Owner's Annual Assessment for the remainder of that fiscal year to become immediately due and payable at the option of the Executive Board, without further notice. (b) The Association may bring an action at law or equity against the Owner obligated to pay the Assessment or undertake any other remedies allowed by law. In the event it shall become necessary for the Executive Board to collect any delinquent Assessments in any manner, the delinquent Owner shall pay, in addition to the Assessment, interest and late fees as herein provided, all costs of collection including reasonable attorneys fees and costs incurred by the Association. (c) The Association is hereby granted a continuing lien against an Owner's Unit for payment of any Assessment which the Owner fails to make as required by this Declaration. Such lien shall attach at the time of levy of the Assessment and continue until such Assessment, together with all late fees, interest and costs of collection, including reasonable attorneys' fees, are paid in full. The lien hereby given shall also be a lien upon all of the rents and profits of the encumbered Unit. (d) The lien hereunder may be foreclosed upon by the Association as provided by the laws of the State of Colorado for foreclosure of mortgages and deeds of trust on real property. The Association shall have all rights in this regard as provided by the Colorado Revised Statutes. (e) Subject to the rights of a first mortgagees, except as such rights are modified by the Colorado Common Interest Ownership Act; if a foreclosure action is filed to foreclose any Assessment line, and an Owner abandons or leaves vacant his or her dwelling Unit, the Executive Board may take possession and rent said dwelling Unit or apply for the 13 971077 appointment of a receiver for the dwelling Unit without prior notice to the Owner. (f) In the event an Owner is in default on any obligation secured by an encumbrance on a Unit in the planned community, the Executive Board, at its option, may pay the amount due on said obligation and shall have a lien for said amount against the Unit which lien shall attach in the manner as provided for unpaid Assessments. (g) In the event any lien is required to be filed and released to enforce collection hereunder, all costs of preparation, filing and release shall be paid by Owner as a cost of collection. (h) A lien under this Article IV is prior to all other liens and encumbrances on a Unit except: (1) Liens and encumbrances recorded before the recordation of the Declaration (2) A Security Interest on the Unit which has priority over all other Security Interests on the Unit and which was recorded before the date of which the assessment sought to be enforced became delinquent, or which has priority over all other Security Interests on the Unit and which was perfected before the date of which the assessment sought to be enforced became delinquent; and (3) Liens for real estate taxes and other governmental assessments or charges against the Unit. A lien under this Article IV is also prior to the Security Interests described in subparagraph (2) above of this paragraph (h) to the extent of: (1) An amount equal to the Annual Assessments based on a periodic budget adopted by the Association pursuant to Section 4.04 of this Article IV which would have become due, in the absence of any acceleration, during the six months immediately preceding institution of an action to enforce the lien, but in no event shall the priority accorded to such lien exceed one hundred fifty percent of the average monthly assessment during the immediately preceding fiscal year multiplied by six; (2) Attorney fees and costs being incurred in an action to enforce the lie. This subsection (h) does not affect the priority of mechanics' or material men's liens or the priority of liens for other assessments made by the association. 14 371077 4.10 Capital Fund: The Association may establish a Capital Fund with each Unit being obligated to make a contribution to said fund of up to twenty-five (25%) of the Annual Assessment applicable at the time of payment with respect to said Unit. If the fund is established, each such nonrefundable contribution shall be collected and the amount established at the closing of the initial sale of such Unit and such amount collected shall be maintained for the use and benefit of the Association and shall not be considered a payment of Annual Assessment. Said Fund shall be utilized at the discretion of the Executive Board to meet unforeseen expenses, to acquire capital equipment or provide any additional services to benefit the Association including payment of costs and expenses incurred in the enforcement of provisions of this Declaration. Upon the transfer of a Unit, a Unit Owner shall be entitled to a credit form the transferee (but not from the Association) for the aforesaid contribution to the Capital Fund. 4.11 Specific Approval Required: In the event prior approval of a Special Assessment, fine or any increased Annual Assessment is required by the Federal Housing Authority, the Veterans Administration or similar agency because sale of portions of the Properties are financed by such agencies, written consent of such agency is also required. 4.12 Reconstruction Assessments: In accordance with Article VII of this Declaration, the Association shall have the authority to impose and levy a Reconstruction Assessment against all Units for reconstruction of Common Areas or Maintenance Property and for payment of insurance premiums. Said Assessment shall be prorated among Owners in the same manner and proportion as the Annual Assessment. 4.13 Individual Assessments and Fines: An Individual Assessment may be assessed by the Executive Board as allowed in this Declaration and/or the Colorado Common Ownership Interest Act against any Owner or Owners. Said Assessment shall be make only after twenty (20) days written notice to the Owner or Owners to be assessed, the Opportunity to the Owner for a hearing before the Executive Board, and a vote of two- thirds of a quorum of the Board levying said assessment. A fine may be assessed by the Executive Board against an Owner or Owners for each violation of the Declaration, the Articles, the Bylaws and the Rules and Regulations. Said fine shall be assessed by complying with the procedure for Individual Assessment set forth above. ARTICLE V Architectural Control Committee 5.01 Approval of Improvements Required: No improvements shall be constructed, erected, placed, planted, applied or installed upon any Unit unless plans and specifications therefor (said plans and specifications to show exterior design, height, materials, color, and location of the improvements, and type of landscaping, fencing, walls, windbreaks and grading plan, as well as such other materials and information as may be required by the 15 971077 Architectural Control Committee) shall have been first submitted to and approvedin writing by the Architectural Control Committee (hereinafter the "ACC"): provided, however, that the Declarant shall be exempt from seeking or obtaining ACC approval during Declarant's development of , construction on , or sales of any Unit or residences on any Unit. The ACC shall exercise its reasonable judgment to the end that all improvements conform to and harmonize with the existing surroundings, residences, landscaping and structures. In its review of such plans, specifications and other materials and information, the ACC may require that the applicant(s) reimburse the committee for the actual expenses incurred by the committee in the review and approval process. Such amounts, if any, shall be levied in addition to the Annual Assessment against the Unit for which the request for ACC approval was made, but shall be subject to the Association's lien for assessments and subject to all other rights of the Association for the collection of such assessments, as more fully provided in this Declaration. 5.02 Members of ACC: The ACC Shall consist of three persons. Declarant shall have the right to appoint and reappoint the members, who need not be Owners, until all of the Units have been conveyed to the first Unit Owner thereof (other than Declarant orr providing Builder). In addition, Declarant may terminate its right of appointment by p g written notice to the Executive Board or the Secretary of the Association. Thereafter members shall be appointed by the Executive Board for three year terms except terms for the initial Acc appointed by the Executive Board shall be one year for one member and two years for one member and three years for one member. All members appointed by the Board to the ACC must be Owners and shall not be entitled to any compensation for their service. 5.03 Decision of ACC: The decision of the ACC shall be made within thirty (30) days after receipt of all materials and plans required to be submitted to the ACC. The decision shall be in writing and, if the decision is not to approve a proposed improvement, the reasons therefor shall be stated. The decision shall be promptly mailed to the applicant at the address furnished by the applicant. A majority vote of the ACC shall constitute action by the ACC. In the event of a no vote, the request shall be treated as having been denied. 5.04 Criteria for Approval: The ACC shall have the right to disapprove any application which is not suitable or desirable for aesthetic or other reasons, and the ACC shall have the right to take into consideration the suitability of the proposed improvement, the materials of which it is to be built, the color, the site upon which it is proposed to erect the same, the harmony thereof with the surroundings, the topography of the land, the effect of the proposed improvement on adjacent or neighboring property, and if the improvement is in accordance with all of the provisions and intent of this Declaration, the Basic Specifications set forth in Section 5.10, hereinbelow, and the design guidelines to be adopted under Section 5.11 hereinafter set forth. The application may be rejected if the plans and specifications submitted are incomplete. The ACC may condition its approval of any application upon such terms, conditions and changes as the ACC may deem appropriate. 16 971077 5.05 Appeal to the Executive Board: If the ACC denies approval of a proposed improvement, the applicant may appeal to the Executive Board by giving written notice of such appeal to the Executive Board within ten (10) days after such denial. The Executive Board shall hear the appeal with reasonable promptness after reasonable notice of such hearing to the applicant and the ACC and shall decide, with reasonable promptness, whether or not the request shall be approved. The decision of the Executive Board shall be final and binding upon all parties. In the event the ACC is not properly formed or ceases to exist, all functions of the ACC shall be taken over by the Executive Board. 5.06 Failure of ACC to Act on Plans: Any request for approval of a proposed improvement shall be deemed approved, unless written disapproval is mailed to the applicant within thirty (30) days after the date of receipt by the ACC of all necessary materials as determined by the ACC. Any failure of the ACC to act under this Section shall not be deemed a waiver of any right to withhold approval or consent for a similar proposal submitted in the future. 5.07 Noncompliance: If the Board or ACC finds that any improvement has been done without obtaining the necessary approval under this Article, or was not done in compliance with the plans and specifications furnished by the applicant, the applicant shall be notified in writing of the noncompliance. Upon receipt of said notice, the applicant shall remedy or remove the improvement or portion which is in noncompliance within fifteen (15) days of the date the written notice of noncompliance was mailed. The applicant may appeal a notice of noncompliance within ten(10) days of the mailing of the notice by filing a written request for review with the Executive Board. Upon receipt of said written notice of review, the Board shall decide as soon as reasonably possible whether there has been noncompliance, with the decision of the Board being binding on all parties. In reviewing the matter, the Board may review any information it deems pertinent and request that any additional materials be supplied for its review. In the event the applicant or any Owner fails to remedy any noncompliance, the Board may take any and all steps it deems necessary to effectuate such a remedy or to remove the noncompliance including all rights under law. The Board may remove the noncomplying improvement from the property and assess the costs of removal against the Owner. In addition, the Board may, at its discretion, levy a fine or individual Assessment against said Owner for all costs and expenses incurred, including reasonable attorney's fees in the matter or in the removal of any noncomplying improvement. 5.08 No Implied Waiver: No action by the ACC or by the Executive Board shall constitute a waiver or be binding with respect to future action by the ACC or the Executive Board under this Article. Specifically, no approval or failure to act by the ACC or the Board with respect to any request shall be deemed a waiver of any right to withhold 17 971077 approval or consent for any other proposed improvement or for any other similar proposals. 5.09 Nonliability for Committee Action: No member of the ACC, nor any member of the Executive Board nor the Declarant shall be liable for any loss, damage or injury arising out of or in any way connected with the performance of the duties of the ACC or Executive Board unless it be due to the willful misconduct or bad faith of the party to be held liable. In reviewing any matter, the ACC shall not be responsible for reviewing, nor shall its approval of an improvement or plan be deemed approval from the standpoint of safety, or imply that said improvement is in conformance with building codes or other governmental laws or regulations. 5.10 Basic Specifications: The following basic specifications, requirements and restrictions (hereafter "Basic Specifications") shall apply to the construction, repair, replacement or other installation of any improvement, as more particularly described in Section 5.01 herein above, upon Unit: (a) Building Envelope, Site Orientation and Planning. (1) Building Envelope for Lots (a) Minimum front yard setback = 40 feet from the street right-of-way. (b) Minimum side yard setback = 30 feet from the side of property lines. (c) Minimum back yard setback = 50 feet from the rear property line. (b) Front Yard Light, Exterior Lighting and Mailboxes (1) Any exterior lighting installed on any Lot or Outlot shall be indirect or of such controlled focus or intensity as not to disturb the owners of adjacent properties. (2) Each Unit Owner shall build and maintain an individual mailbox structure which meets the Subdivision design standard. (c) Architectural Design Styles. Certain architectural styles are neither encouraged nor discouraged. Individualism in design is encouraged provided, however, that principles of good design have been employed and that the immediate and surrounding environment has been enhanced by the proposed "improvements." ARTICLE VI RESTRICTIVE COVENANTS 6.01 General Plan: It is the intention of the Declarant to establish and impose a general plan for the improvement, development, use and occupancy of the Units, all in order to 18 971077 enhance the value, desirability, and attractiveness of the Units and subserve and promote the sale thereof. 6.02 Use of Properties: Each and every Lot or Unit within the Properties shall be used for Business purposes only, together with such accessory uses as are allowed by law. All buildings or structures erected upon the Properties shall be constructed on site, and no buildings or structures shall be moved from other locations onto said premises. No temporary building or other temporary structures, trailers, basements, tents, shacks, barns, or outbuildings shall be erected, used or permitted to be kept or stored on any portion of the Properties for any period of time, except as specifically allowed in this Declaration, or except as utilized by Declarant or the assigns or lessees of Declarant for business purposes. 6.03 Uses Permitted: No lot shall be used for purposes other than those allowed in a district zoned Commercial C-3 set forth in the Weld County Zoning Ordinances now in effect; however, specifically excluding and prohibiting the following ses: nightclubs, bars, lounges and taverns; mortuaries, funeral homes, truck stops. All structures, improvements and landscaping shall meet all requirements for C-3 as may be requested by the Weld County Zoning Ordinances. 6.04 General Restrictions: None of the Properties shall be used in any way or for any purpose which may endanger the health or unreasonably disturb the Owner of any Unit. No billboards, unsightly objects or nuisances shall be erected, placed or permitted to remain on the Properties except as allowed under Section 6.09 6.05 Prohibited Uses: No unlawful use shall be permitted or made of the Properties or any part there of MI laws, ordinances and regulations of all governmental bodies having jurisdiction shall be complied with. 6.06 Oil and Mining Operation: No oil drilling, oil development operation, oil refining, quarrying or mining operations of any kind shall be permitted upon or in any lot, nor shall oil wells, tanks, tunnels, mineral excavations or shafts be permitted upon or in any lot. No derrick or other structure designated for use in boring of oil or natural gas shall be erected, maintained or permitted or permitted upon any lot. 6.07 Construction Facilities: Notwithstanding any provisions herein contained to the contrary, it shall be expressly permissible for Declarant, its agents, employees and contractors to maintain during the period of construction and sale of the Units, upon such portion of the Properties as Declarant may choose, such facilities as in its sole opinion may be reasonably required, convenient or incidental to the construction and sale or rental of Units including, without limitation business office, management offices, storage areas, construction yards, signs, model Units, sales offices, construction offices, parking areas and lighting. Said offices may be at a location and a size as determined by Declarant. 19 971077 6.08 Destruction of Buildings on Units: If due to casualty or for any other reason a building located on a Unit shall be destroyed or so damaged that the building is no longer usable, then the Owner of such Unit shall, within a reasonable time not to exceed one hundred and twenty (120) days after the event resulting in such damage or destruction, either commence and diligently pursue repair or reconstruction of the residence or demolish the same. Demolition of a building shall include removal of any foundation slabs, basemerft walls and floors, regrading the Unit to a level condition and the installation of such landscaping as may be required by the ACC pursuant to a plan submitted by the Unit Owner of said Unit. If the Unit Owner of a Unit does not either commence repair, reconstruction or demolition activities within a reasonable time as provided herein above and diligently pursue the same in conformance with plans approved by the ACC then the Association may in its reasonable discretion, after providing the notice required in Article IV, Section 4.13 hereof, enter upon the Unit for the purpose of demolishing the building and landscape the Unit in conformance with approved plans. The cost related to such demolition and landscaping shall be the personal obligation of the Owner of the Unit on which such work is performed and shall be subject to all of the terms and provisions applicable to assessments as provided in Article IV hereof, including without limitation, interest, late charges and lien rights. 6.09 Animals: No wild animals, livestock, birds, poultry, reptiles, or insects of any kind shall be raised, bred, kept or boarded in or on the Units. 6.10 Miscellaneous Improvements: (a) No advertising or signs of any character shall be erected, placed, permitted, or maintained on any Unit other than a name plate of the occupant and a street number, and except for a "For Sale" or "For Rent" sign of not more than five (5) square feet. Notwithstanding the foregoing, reasonable signs, advertising or billboards used by the Declarant or a Builder in connection with the sale or rental of the units, or otherwise in connection with development of or construction on the Units, shall be permissible. (b) No wind generators or any kind shall be constructed, installed, erected or maintained on the units. (c) No fences or other exterior Improvements shall be constructed, installed, erected or maintained on any Unit unless approved by the ACC and except such fences, in such locations as were installed or permitted to be installed by the Declarant or a Builder in its construction of Improvements on the Units. 6.11 Vehicular Parking, Storage and Repairs: (a) No house trailer may be parked or stored on the Units unless such parking or storage is within the garage area of any Unit or suitably screened from view in accordance with the requirements of the ACC. 20 971077 (b) Except as herein above provided, no abandoned or inoperable automobiles or vehicles of any kind shall be stored or parked on any Unit. An "abandoned or inoperable vehicle" shall be defined as any automobile, truck, motorcycle, or other similar vehicle, which has not been driven under its own propulsion for a period of one (1) week or longer, or which does not have an operable propulsion system installed therein; provided, however, that otherwise permitted vehicles parked by Unit owners while on vacation or during a period of illness shall not be deemed to be abandoned. (c) In the event the Association shall determine that a vehicle is parked or stored on any Unit in violation of subsections (a) or (b) of this Section 6.10, then a written notice describing said vehicle shall be personally delivered to the owner thereof (if such owner can be reasonable ascertained) or shall be conspicuously placed upon the vehicle (if the owner thereof cannot be reasonably ascertained), as determined by the Association in its discretion from time to time, the Association shall have the right to remove the vehicle at the sole expense of the owner thereof 6.12 Nuisances: No nuisance shall be permitted on any Unit nor any use, activity or practice which interferes with the peaceful enjoyment or possession and proper use of any Unit, or any portion thereof, by its owners. As used herein, the term "nuisance" shall not include any activities of Declarant or a Builder which are reasonably necessary to the development and construction of , and sales activities on, the Units; provided, however, that such activities of the Declarant or a Builder shall not unreasonably interfere with any Unit owner's use and enjoyment of his Unit, or with any Unit Owner's ingress and egress to or from his Unit and a public way. No noxious or offensive activity shall be carried on upon any Unit nor shall anything be done or placed on any Unit which is or may become a nuisance or cause embarrassment, disturbance or annoyance to others. Further, no unlawful use shall be permitted or made of any Unit or any portion thereof All laws, ordinances and regulations of all governmental bodies having jurisdiction over the Units, or any portion thereof, shall be observed. 6.13 No Hazardous Activities: No activities shall be conducted on any Unit or within improvements constructed on any Unit which are or might be unsafe or hazardous to any person or property. Without limiting the generality of the foregoing , no firearms shall be discharged upon any Unit and no open fires shall be lighted or permitted on any Unit. 6.14 No Annoying Sounds or Orders: No sound shall be emitted from any Unit which is unreasonably loud or annoying; and no odor shall be permitted from any Unit which is noxious or offensive to others. 21 971077 6.15 Restrictions on Trash and Materials: No refuse, garbage, trash, lumber, grass, shrubs or tree clippings, plant waste, metal, bulk materials, scrap or debris of any kind shall be kept, stored, or allowed to accumulate on any Unit unless placed in a suitable container suitably located solely for the purpose of garbage pickup. All equipment for the storage or disposal of such materials shall be kept in a clean and sanitary condition. No garbage or trash cans or receptacles shall be maintained in an exposed or unsightly manner. 6.16 Minor Violations of Setback Restrictions: If upon the erection of any structure, it is disclosed by survey that a minor violation or infringement of setback lines has occurred, such violation or infringement shall be deemed waived by the Owners of each Unit immediately adjoining the structure which is in violation of the setback, and such waiver shall be binding upon all other Unit Owners. However, nothing contained in this Section 6.16 shall prevent the prosecution of a suit for any other violation of the restrictions, covenants, or other provisions contained in this Declaration. A "minor violation", for the purpose of this Section, is a Violation of not more than four (4) feet beyond the required setback lines or Unit lines. This provision shall apply only to the original structures and shall not be applicable to any alterations or repairs to, or replacements of , any of such structures. 6.17 Rules and Regulations: Rules and Regulations concerning and governing the Units and/or this Common Interest Community may be adopted, amended or repealed from time to time by the Executive Board, and the Executive Board may establish and enforce penalties for the infraction thereof, including, without limitation, the levying and collecting of fines for the violation of any of such Rules and Regulations. 6.18 Units to be Maintained: Each Unit shall at all times be kept in a clean and sightly condition by the Unit Owner of the Unit. No trash, litter, junk, boxes, containers, bottles, cans, implements or machinery shall be permitted to remain upon any Unit except as necessary during the period of construction or as provided in Section 614 of this Article. 6.19 Maintenance of Grade and Drainage: Each Unit Owner shall maintain the grading upon his Unit, and the Association shall maintain the grading upon such real property which the Association has a duty to maintain, at the slope and pitch fixed by the final grading thereof, including landscaping and maintenance of the slopes. Each Unit Owner and the Association agree, for themselves and their successors and assigns, that they will not in any way interfere with the established drainage pattern over any real property which they have a duty to maintain, from adjoining or other real property. In the event that it is necessary or desirable to change the established drainage over any Unit or other real property which a Unit Owner or the Association has a duty to maintain, then the party responsible for the maintenance of such real property shall submit a plan to the Architectural Control Committee for its review and approval, in accordance with the provisions of Article V of this Declaration. For purposes of this Section 6.18, "established 22 971077 drainage" is defined as the drainage which exists at the time final grading of a Unit is completed. ARTICLE VII Insurance 7.01 Coverage: The Executive Board shall obtain and maintain at all times to the extent obtainable, insurance policies relating to the Common Areas, and Maintenance area. Said policies shall be written with companies licensed to do business in the State of Colorado. The Executive Board and the Declarant shall not be liable for failure to obtain any coverages required if such failure is due to the unavailability of such coverages or if such coverages are available only at unreasonable cost; in such case, however, the Association shall promptly cause notice of such fact to be hand delivered or sent by United States Mail to all Unit Owners. If requested in writing by an Owner or a first mortgagee, the Executive Board shall furnish a certificate of insurance or notices of termination of coverage or changes in coverage. (a) Each such policy shall provide: (1) Such policy shall not be canceled, invalidated or suspended because of the conduct of any Unit Owner (including said Unit Owner's guests, tenants or agents) or of any officer, agent or employee of the Association without a prior demand in writing to the Association that the conduct or defect be cured and the Association shall not have so cured within sixty (60) days of said demand. (2) The Declarant, so long as Declarant shall continue to own any Unit, any portion of the Properties, shall be protected by all such policies. (3) That, notwithstanding any provision thereof which gives the carrier the right to elect to restore damage in lieu of making a cash settlement, such option shall not be exercised without prior approval of the Association. (4) Each Unit Owner is an insured person under the policy with respect to liability arising out of such Unit Owner's interest in the Common Interest Community or membership in the Association. (5) The insurer waives its rights to subrogation under the policy against any Unit Owner or member of his household. 23 971077 (6) No act or omission by any Unit Owner, unless acting within the scope of such Unit Owner's authority on behalf of the Association, will void the policy or be a condition to recovery under the policy. (7) If, at the time of a loss under the policy, there is other insurance in the name of a Unit Owner covering the same risk covered by the policy, the Association's policy provides primary insurance. (b) Said policies shall not provide that: (1) Under the terms of the insurance companies charter, bylaws or rules, contributions or Assessments may be made against the Association, any Unit Owner, a first mortgagee or said mortgagee's designee or assignee; (2) Under the term of the insurance companies charter, by laws or rules, any loss payments are contingent upon action by the insurance companies board of directors, shareholders, policy holders or members; (3) Any limiting clauses which could prevent first mortgagees or said mortgagee's designee or assignees from collecting proceeds paid. (c) All policies shall contain waivers of subrogation against the Declarant, the Association, the Executive Board, Members, Unit Owners, their guests and assignees. The named insured under the policies shall be the Association for the use and benefit of the individual Unit Owners. Any loss covered by the policies carried under this Article shall be adjusted exclusively by the Executive Board and the insurance proceeds for that loss shall be payable to the Association as attorney -in -fact for each Unit Owner and such Unit Owner's First Mortgagee. Said insurance policies shall contain the standard mortgagee clause or equivalent endorsement in which the First Mortgagee, its successors and assigns, are named additional insured, if applicable. 7.02 Physical Damage Insurance: The Executive Board shall obtain and maintain a blanker "all-risk" form policy of fire and hazard insurance with extended coverage for vandalism, malicious mischief, windstorm, sprinkler leakage (if applicable), debris removal, cost of demolition and water damage endorsements, insuring all of the insurable improvements located on the Common Areas or Maintenance Property, including fixtures, 24 971077 machinery, equipment, fences and supplies and any other personal property belonging to the Association. Such insurance shall provide coverage equal to the current replacement cost based on the most recent appraisal of the insurable improvements, exclusive of land, excavations and other items normally excluded. The Executive Board shall review at least annually, its insurance policies in order to insure that the coverages contained in the policies are sufficient. Such policies shall also provides as follows: (a) A waiver of any right of the insurer to repair, rebuild or replace any damage or destruction, if a decision is make by the Unit Owners pursuant to the Act not to do so; (b) Said policies shall contain the following endorsements: (1) No control; Contingent liability from operation of building • codes; Cost of demolition; Increased cost of construction; Inflation guard. (2) A duplicate original of the policy of hazard insurance, all renewals thereof, and any subpolicies or certificates and endorsements issued thereunder, together with proof of payment of premiums, shall be delivered by the insurer to the Association. (3) Any deductible on such insurance policy shall be determined in the discretion of the Executive Board as consistent with good business practice and which shall be consistent with the requirements of the First Mortgagee. Any loss falling within the deductible portion of a policy may be paid by the Association. (4) The insurer shall provide such other endorsements as are reasonably required of the Colorado Common Interest Ownership Act. 7.03 Rebuilding of Damaged Areas: In the event of repair and/or reconstruction, the proceeds of any insurance collected shall be available to the Association for the purpose of repair and/or reconstruction. If the insurance proceeds are insufficient to properly repair and/or reconstruct the damaged areas, such excess cost shall be assessed as an Individual Assessment against all Owners in accordance with this Declaration and not as a Special Assessment and such Assessment shall be exempt from any special voting requirements of 25 971077 the Owners. Such Individual Assessment shall be assessed in the same proportion as the Annual Assessment is assessed. If any portion of the damaged areas is not repaired or replaced, the insurance proceeds shall be used to restore the damaged areas to a condition compatible with the adjacent area and the remainder of the proceeds shall be retained by the Association for the benefit of the Members. 7.04 Liability Insurance: The Executive Board shall obtain and maintain comprehensive commercial general liability insurance against claims and liabilities arising in connection with the ownership, existence, use or management of the Common Areas and Maintenance Properties, and against any and all claims arising in connection with the conduct of its affairs, including libel, slander, false arrest, invasion of privacy and property damage, with such limits as the Association determines appropriate with respect to Property of the Association and insuring each Officer, Director, Member and each Owner including the Declarant in its capacity as a n Owner, against any liability to the public or to Owners and their invitees, agents and employees arising out of, or incident, ownership and use of such Property or Maintenance Area. Such insurance shall be issued on a comprehensive liability basis. Additional coverages may be acquired to include protection against such other risks including, but not limited to ,Host Liquor Liability, Contractual and All -Written Contract Insurance, Workmen's Compensation and Employer's Liability Insurance, Comprehensive Automobile Liability Insurance and such other coverages the Board deems necessary. The Executive Board shall review such coverages and the policy limits thereunder once each year, but in no event shall insurance coverage be less than one million dollars ($1,000,000.00) covering all claims for bodily injury or death and property damage arising out of one occurrence. Reasonable amounts of "umbrella" liability insurance in excess of the primary limits may also be obtained at the discretion of the Executive Board. 7.05 Other Insurance: (a) The Association shall, if any Unit Owner or employee of the Association controls or disburses funds, obtain and maintain, to the extent reasonably available, adequate fidelity insurance coverage, to protect against dishonest acts on the part of the Directors, Officers, Trustees, Employees or Volunteers of the Association and all others who handle or are responsible for handling funds. Such fidelity coverage shall name the Association as the named insured and be written in an amount sufficient to cover the maximum funds that will be in the custody of the Association at anytime while the insurance is in force. In addition, the fidelity insurance coverage must contain waivers of any defense based upon the exclusion of persons who serve without compensation. 26 971077 (b) If required by a governmental or quasi -governmental agency, including the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation, the Association shall obtain flood insurance in accordance with said requirements. (c) The Association may obtain Worker's Compensation and Employer's Liability Insurance and other similar insurance with respect to employees of the Association in the amount and in the forms now or hereafter required by law. (d) The Association may obtain such other insurance of a similar or dissimilar nature, as the Executive Board shall deem appropriate. (e) If it is reasonably determined by a First Mortgagee that the existing coverages do not adequately protect the Properties, the Executive Board shall obtain such additional coverages. In addition, in the event any additional coverage is required by the Colorado Common Interest Ownership Act, the Executive Board shall seek to obtain such coverage, if available. 7.06 Payment of Insurance Premiums: The cost of the insurance obtained by the Association in accordance with this Article shall be paid from Association funds and shall be collected from the Owners as part of the Annual Assessment as provided for in this Declaration. In the event there are not sufficient funds generated from the Annual Assessment to cover the cost of the insurance provided for above, then the deficiency shall be chargeable to each Owner by an Individual Assessment and not as a Special Assessment and such Assessment shall be exempt from any voting requirements of the membership. 7.07: Coverage on Owner's Units: An insurance policy issued to the Association does not obviate the need for an Owner to obtain insurance for that Owner's own benefit. Insurance coverage on any property owned by an Owner, and Owner's guests, invitees, employers, employees or assigns shall be the sole responsibility of the Unit Owner. The Declarant, the Association and the Executive Board shall have no responsibility therefor. ARTICLE VIII Rights of the First Mortgagees 8.01 Entitlement: A First Mortgagee, upon written request to the Association, shall be entitled to receive any of the following: (a) Budgets, notices of Assessments, or any other notices provided for under this Declaration by the Association to an Owner in which a First Mortgagee has a security interest; 27 971077 (b) Financial statements of the Association which are distributed to its Members; (c) Notices of meetings of the membership and the right to be represented at any meeting by a designated representative; (d) Notice of any default in the performance of any obligations under this Declaration, the Articles of Incorporation and/or Bylaws of the Association by an Owner of a Unit in which a First Mortgagee has a security interest, which remains uncured for a period of thirty (30) days; (e) Notice of the decision of the Members to make any material amendment to this Declaration, the Bylaws, and/or the Articles of Incorporation of the Association; (f) Notice of any lapse, cancellation or material modification of any hazard or liability insurance policy or fidelity bond maintained by the Association; (g) Notice of any condemnation action or any casualty loss which affects a material portion of the Properties or any Unit in which a First Mortgagee had a security interest; (h) Notice of any proposed action in which this Declaration requires notice and consent of First Mortgagee. 8.02 Payment of Charges: First Mortgagees, may pay overdue premiums o hazard insurance policies or secure new hazard insurance coverage because of a lapse of a policy and may also pay taxes and other charges which are in default or which may or have become a charge against the Common Areas or Maintenance Property. If such payment is made, reimbursement form the Association shall be due and owing immediately. 8.03 Restrictions: The consent of the Owners to which at least sixty-seven percent (67%) of the votes in the Association are allocated and the approval of those First Mortgagees holding mortgages on Lots which have at least sixty-seven percent (67%) of the votes of the Lots subject to first mortgages within the Properties shall be required to add or amend any material provisions of the Declaration, Bylaws, and/or Articles of Incorporation which establish, provide for, govern or regulate any of the following: (a) Assessments, the manner of Assessment liens or the subordination of such Assessment liens; 28 971077 (b) Reserves for the maintenance, repair and replacement of the Common Areas or Maintenance Property; (c) Insurance or Fidelity Bond; (d) Right to use of the Common Areas; (e) Responsibility for maintenance and repair of the Common Areas or Maintenance Property; (0 Leasing of any right of first refusal or similar restriction on the right of an Owner to sell, transfer, or otherwise convey a Unit; (g) Imposition of any right of first refusal or similar restriction on the right of an Owner to sell. transfer, or otherwise convey a Unit' (h) Any provisions of this Declaration, the Articles of Incorporation or Bylaws which specifically grants rights to First Mortgagees thereunder. Nothing in this Section shall be deemed to deny or delegate control over the general administrative affairs of the Association by the Unit Owners or Executive Board or prevent the Executive Board from commencing, intervening in, or settling any solicitation or proceeding. 8.04 Special GNMA/FHLMC/VA/FHA Provisions: If required by the Government National Mortgage Association, Federal Home Loan Mortgage Corporation, Department of Housing and Urban Development, Federal Housing Authority, the Veterans Administration or similar agency, the following requirements apply. Unless seventy-five percent (75%0 of the First Mortgagees (based upon one vote for each first mortgage owned) or Owners (other than the Declarant) give their prior written approval, the Association shall not be entitled to: (a) by act or omission seek to abandon, partition, subdivide, encumber, sell or transfer property owned directly or indirectly by the Association, except as specifically allowed in this Declaration; (b) fail to maintain hazard and extended coverage insurance on Common Areas or Maintenance Areas on a current replacement cost basis in an amount not less than one hundred percent (100%) of the insurable value; 29 971077 (c) use hazard insurance proceeds received for losses to any part of the Common Areas or Maintenance Properties for other than repair, replacement or reconstruction of such property; (d) change the method of determining the Assessments which may be levied against an Owner; (e) by act or omission change, waive or abandon any scheme of regulation, or the enforcement thereof, pertaining to the architectural design or exterior appearance of the dwelling Units, the maintenance of the Common Areas or Maintenance Properties. ARTICLE IX General Provisions 9.01 Enforcement: The covenants, conditions and restrictions herein contained, and amendments made hereunder, shall run with the land and be binding upon and inure to the benefit of the Association, the Declarant and property Owners, and may be enforced as provided hereinafter. Violation of these protective covenants shall give the Association, the Declarant or the Owners, or any of them, the right to bring proceedings in law or equity against the party or parties violating or attempting to violate any terms of this Declaration, the Articles of Incorporation and Bylaws of the Association, to enjoin them from so doing, to cause any such violation to cease or to recover damages resulting from such violation. In any legal or equitable proceeding to enforce the provisions hereof or to enjoin any violation, the party or parties against whom judgment is entered shall pay the attorney's fees of the party or parties for whom judgement is entered. Such remedies shall be cumulative and not exclusive. Notwithstanding the foregoing, it is understood that the breach of any of this Declaration shall not defeat or render invalid the lien of any mortgage made in good faith and for value, provided, however, the covenants, conditions and restrictions shall at all times remain in full force and effect against said premises or any part thereof notwithstanding any foreclosure of any mortgage. No assent, expressed or implied, to any breach of any one or more of the covenants, conditions and restrictions shall be deemed to be a waiver of any succeeding or other breach. 9.02 Damages: An Owner shall be liable and responsible for payment of any loss or damage to any portion or property caused by the act or negligence of the Owner or such Owner's guests which occurs within the Properties or any common areas. Any such loss or damages together with reasonable attorney's fees and costs of collection may be recovered from the Owner by means of a fine, an Individual Assessment or any other legal means. 9.03 Duration: The covenants, restrictions and reservations set forth in this Declaration, unless properly amended shall run with and bind the entire described Properties, for a term 30 971077 of twenty (20) years from the date this Declaration is recorded, after which time they shall be automatically extended for successive periods of ten (10) years. 9.04 Amendments: Except for amendments by Declarant as allowed herein, this Declaration may be amended only by execution of a written document by the Owners of not less than sixty-seven percent (67%) of the Units actually in existence at the time of such amendment. Said requirement shall be satisfied by the recording of a certificate signed by the Secretary of the Association certifying that the required percentage of Unit Owners have given notarized consent to the amendment. In the event prior approval of an amendment is required by the Federal Home Loan Mortgage Corporation, the Federal Housing Authority, the Veterans Administration or a similar agency, said approval shall also be required. 9.05 Scope of This Declaration: The undersigned Declarant, as Owner of fee simple title to the Properties, expressly intends to subject the Properties to the provisions of this Declaration upon recording of this document. Each Owner shall own their Unit thereof, subject to the provisions of this Declaration. Any instrument recorded subsequent to this Declaration purporting to affect an interest in the Properties shall be subject to the terms of this Declaration despite failure to make reference thereto. 9.06 No Representation: Except as expressly set forth herein, Declarant makes no representations regarding use of any Lot or Unit. Declarant makes no representations as to the existence, preservation or permanence of any view from any Lot or Unit. 9.07 Books and Records: Any Unit Owner or Mortgage Holder on a Unit shall hay% the right to examine the books and records of the Association at any reasonable time upon reasonable notice. 9.08 Successors and Assigns: This Declaration shall be binding upon and shall inure to the benefit of the Declarant and each Unit Owner and to the heirs, representatives, Personal Representatives, successors and assigns of each of them. 9.09 Severability:_If any portion of the Declaration becomes invalidated in any manner whatsoever, it shall not affect in any manner the validity, enforceability or effect of the remainder of this Declaration and, in such event, all other provisions of this Declaration shall continue in full force and effect. 9.10 Numbers and Genders: Whenever used herein, unless the context shall otherwise provide, the singular number shall include the plural, the plural the singular, and the use of any gender shall include all genders. 9.11 Designation of Maintenance Property: Certain areas of land which are designated as Maintenance Property are intended for the common use and benefit of the Common Interest Community in that such areas are either reserved for landscape, signage or general utility purposes. Despite the lack of any direct access to such Maintenance Property for 31 971077 recreational purposes, it is desirable for the Association to maintain and control the facilities located thereon. It is specifically intended by Declarant that no use of the Maintenance Property shall be made by any Owner which is inconsistent with the foregoing and such Maintenance Property is not being dedicated for use by the general public. 9.12 Registration of Mailing Address: Each Unit Owner and each Security Interest Holder, insurer or guarantor of a Security Interest shall register his mailing address with the Association, and except for annual statements and other routine notices, all other notices or demands intended to be served upon a Unit Ow ner, or upon a Security Interest Holder, insurer or guarantor of a Security Interest, shall be sent by either registered or certified mail, postage prepaid, addressed in the name of such person or entity at such registered mailing address. However, if any Unit Owner fails to notify the Association of a registered address, then any notice or demand may be delivered or sent, as aforesaid, to such Unit Owner at the address of such Unit Owner's Unit. All notices, demands, or other notices intended to be served upon the Executive Board or the Association shall be sent by registered or certified mail, postage prepaid, to Zeek Partnership, LTD 14504I-25 Frontage Rd. Longmont, CO 80504 or until such address is changed by the Association. 9.13 Description of Units: It shall not be necessary to use the term "unit" as a part of the legally sufficient description of a Unit. 32 971077 IN WITNESS WHEREOF, the Declarant and the undersigned Owners and Mortgagees have hereunto set their hands and seals on the dates set forth on the signature pages below, to be effective as of the last such date. "DECLARANT' ZEEK PARTNERSHIP, LTD. A COLORtADO PAR .' SHIP BY nneth A. Williamson General Partner • 1 33 ATTEST: /r1 971077 STATE OF COLORADO COUNTY OF `Zi'� IC( ) ) ) The foregoing instrument was acknowledged before me this P C X 67 bev, / 9/ % 6,by Kenneth A. Williamson, General Partner Witness my hand and official seal My Commission Expires:� STATE OF COLORADO COUNTY OF 7,/ jE? /c ) ) ) day of The foregoing instrument was acknowledged before me this / day of ��cLe0.1 e v , /� 9 by Connie S. Williamson Witness my hand and official seal My Commission Expires: Notary blic 34 971077 EXHIBIT A Lots 1 through 9 and Lots 11 through 14, Block 1, and Lots 1 through 12, Block 2 Rademacher Subdivision According to the plat recorded thereof, Together with the following ditch and water rights: 1/4 share of the Highland Ditch Company, 2 shares of Baugh Lateral Ditch and Reservior Company and 24 units of Northern Colorado Water Conservancy District (Big T) Water 35 371077 EXHIBIT B COMMON AREAS As shown on the recorded plat for the real property described in Exhibit A. Camelot Circle Kings Court 80' Easement for the Baugh Lateral Ditch North and South of North Entrance, and North of South Entrance Areas (20' East & West and 25' North & South) each. 36 971077 EXHIBIT C MAINTENANCE PROPERTY NONE 37 971077 i0 EXHIBIT D SEE TITLE POLICY 38 971077 OFF -SITE STREET IMPROVEMENTS Based on the Traffic Study completed for the I-25 Business Park, projected future traffic counts indicate the need for a third and possibly a fourth access point to the project at build out. Assuming that Weld County Road 9-1/2 is improved to a minimum of four lanes in the future, the fourth access point may not be required. The Developer will provide on the Plat a Sixty (60) foot street right-of-way reservation across portions of Lots 8 and 9, Block 1 for the purpose of a third access point connecting to WCR 9-1/2. The first two access points connect to the existing I-25 East Frontage Road. Also, an additional Twenty (20) foot of street right-of-way will be platted along the East boundary of the I-25 Business Park. The Developer will include in the Subdivision Improvement Agreement the provision that, with the sale of each lot, an amount of $0.04 per square foot of that lot will be escrowed in an account to be used for the improvements to the access road between Camelot Circle and WCR 9-1/2, and to WCR 9-1/2 between WCR 32 and the South East corner of Lot 9, Block 1. At the time the improvements are required to be constructed, the remaining amount as estimated below will be deposited to the escrow account prior to any additional building permits being issued for improvements within the I-25 Business Park. The escrow account will be interest bearing and shall be accessible only by joint signature of the Developer and an appointed representative of Weld County and shall be for the sole purpose of the improvements as stated above and as outlined below. Any excess funds remaining in the account after the improvements have been made and accepted by Weld county shall be disbursed to the Developer. Any additional funds required shall be provided by the Developer prior to any additional building permits being issued. The following estimate of improvement costs shall be the basis for the escrow of funds in the I-25 Business Park street escrow account: Item No. Description Estimated Unit Quantity Unit Cost Amount 1. Grading 1 LS $ 20,000 $ 20,000 2. Base Course (9"x32') 5000 TN $ 10 $ 50,000 3. Asphalt (4-1/2"x28') 2000 TN $ 25 $ 50,000 4. Bridge(10' x 3' Box Culvert) 70 LF $ 500 $ 35,000 5. Remove Existing Bridge 1 LS $ 5,000 $ 5,000 10% CONTINGENCY $ 16,000 ESTIMATED FUNDS REQUIRED $176,000 971077 Additional improvements to WCR 9-1/2 between WCR 32 and the South East corner of Lot 9, Block 1,1-25 Business Park, other than those improvements shown above as the center interim improvements, shall be completed by others. The Developer will begin the design of the required improvements when the tenth lot has been sold and the Developer shall complete the above improvements prior to a building permit being issued on the fourteenth lot. However, no improvements will be required to be initiated until such time Weld County jointly or individually improves that portion of WCR 9-1/2 from the South East corner of Lot 9, Block I of the I-25 Business Park South to State Highway 66. These improvements are to be completed at no additional cost to I-25 Business Park. 972077 CERTIFICATION I hereby certify that the Construction Documents for Rademacher Business ,Park were prepared by me or under my direct supervision for the Owners thereof. la RED; -: 43%0 a 7;; z�• 44 ames R. Loonan 7 iz- Colorado P.E. 19195 ' �` i 971©7`" 6--≤aE9vtr rsD SiuCCLOk1 DzrAwk4As Hello