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HomeMy WebLinkAboutC05-274 PUBLIC IMPROVEMENTS AGREEMENT RED CANYON ROAD GRADING PERMIT File No. MI-12036 THIS PUBLIC ~ROVS~ENT!S AGREEMENT ("Agreement") made and entered into this (/? day of,~~<6<-, ,2005, by and between the County of Eagle, State of Colorado, a body corporate and politic, by and through its Board of County Commissioners (hereinafter "County") and Red Canyon Homeowners' Association (hereinafter "Developer"). WITNESSETH WHEREAS, the Developer, as a condition of approval of the Red Canyon Road Grading Permit, File No. MI-12036, desires an Agreement as provided for by the Land Use Regulations of Eagle County, Colorado, 1999, as amended ("hereinafter referred to as "Land Use Regulations") Chapter II, Section 4-600; and WHEREAS, pursuant to the same authority, the Developer is obligated to provide security or collateral sufficient in the judgment of the County to make reasonable provisions for completion of certain public improvements (hereinafter described as "Public Improvements"); and WHEREAS, pursuant to Article IV, Section 4-610 of the Land Use Regulations, development in the unincorporated areas of Eagle County shall be planned and designed, or under the direct supervision of a Professional Engineer; and NOW, THEREFORE, in consideration of the premises and the covenants and agreements herein contained to be kept and performed by the parties hereto, it is hereby understood and agreed as follows: 1. PUBLIC IMPROVEMENTS 1.1 Public Improvements. Public Improvements are deemed to include all public improvements related to this development on and off-site. 1.2 Scope of Work. The Developer hereby agrees, at its sole cost and expense, to furnish all necessary equipment and material, and to complete all Public Improvements as referenced in the attached Exhibit "A", and as set forth in all documents, construction drawings, designs, maps, specifications, sketches, and other materials submitted by the Developer prior to or at grading permit approval and accepted by the County, and in accordance with all laws of the United States of America, State of Colorado, County of Eagle, and their respective agencies and 1 affected governmental entities. Such performance shall include acquisition of all necessary rights-of-way. 1.3 Duties of Developer. For those Public Improvements required herein, including but not limited to the reconstruction and physical improvements of that portion of any road subject to this Agreement, the Developer shall retain an engineer whose duties shall include observation of construction for conformance to the approved plans and specifications, and materials sampling, testing and inspection using the Colorado Department of Transportation 2001 Field Materials Manual as a guide for frequency of sampling and testing. 1.3.1 Testing. Where applicable and by way of example only, the following is a highlighting of the acceptance testing that will be required of the Developer: a. Utility and drainage culvert trench backfill under roadway prisms - one density test per 200 c.Y. of backfill or a minimum of one test per roadway crossing. This will require daily visits to the site by a testing laboratory when utilities or drainage culverts are being backfilled within the roadway pnsm. b. Embankments for roadways - one density test per 2,000 C.Y. of any additional embankment(s); and one density test per 500 C.Y. when within 100 feet of bridge approaches. c. Finished Sub-grade - one density test per 250 lineal feet of roadway. d. Aggregate base course - one in-place density per 250 lineal feet of roadway, and gradation and Atterberg Limits test per 2,000 tons of aggregate base course. e. Hot Bituminous Pavement - two asphalt content, gradation and in- place density tests per day's production. f. Concrete - Curb and Gutter, Sidewalks and Bike Paths - tests for air content, slump and compressive strength per 50 C.Y. of concrete placed or minimum of one set of tests per day. 1.3.2 NotificationIRoad Construction. Developer or his Engineer shall notify the Eagle County Engineer for the purpose of arranging an on-site inspection no less than twenty-four (24) hours in advance of the following stages of road construction: 1) Finished Aggregate Base Course 2) Asphalt Placement 3) Concrete - curb and gutter, sidewalks and bike paths The County Engineer shall make an on-site visit within twenty-four (24) hours notification or as shortly thereafter as reasonably possible for the purpose of observing proof rolls on item 1) above and for general observation of construction methods being 2 employed at these stages. Said on-site inspection by the Eagle County Engineer shall in no way abrogate the duties of the Developer as outlined elsewhere in this Agreement. The Developer shall provide the proof rolling by arranging for a loaded single unit truck carrying 18,000 pounds per rear axle. 1.3.3 Test Reports. All test reports shall be consecutively numbered, with copies furnished directly to the Eagle County Engineer from the laboratory as they are reported to the Developer or its engineer. 1.3.4 Record Drawings of Public hnprovements. Record drawings, sealed, signed and dated by a Registered Professional Engineer showing the as-constructed horizontal and vertical locations of Public hnprovements shall be submitted to the Eagle County Engineer prior to commencement of the two year warranty period and the final release of collateral by the County. 1.4 Compliance with Colorado Department of Transportation's State Highway Access Code. Developer shall provide the County with designs in compliance with the Colorado Department of Transportation's State Highway Access Code for all road improvements. 1.5 Date of Completion, All Public hnprovements shall be completed prior to March 13, 2006. 1.6 Approval and Acceptance of Work. 1.6.1 Copies of all test results corresponding to work which is being inspected and any other information which may be necessary to establish the satisfactory completion of the work for which inspection is requested must be submitted prior to said inspection. All such information shall be accompanied by a letter from the Developer's engineer verifying the satisfactory completion of the work performed to date. 1.6.2 Notwithstanding Section 1.3.3 above, promptly after receiving a request for inspection and the required documentation, the County Engineer shall review the information presented and, if necessary, make a public inspection of the work completed. 1.6.3 All said work shall be done to the reasonable satisfaction of the County Engineer and/or the County Department of Community Development, and shall not be deemed complete until approved and accepted as complete by the County. 1.7 Estimated Costs of Public hnprovements. The estimated cost of the Public hnprovements is the sum of $ 220,000.17, as summarized in Exhibit "A". To secure and guarantee performance of its obligations as set forth in this Section 1, including the completion of the required Public hnprovements, the Developer hereby agrees to provide security and collateral in the form and as set forth in Section 2, below. 3 2. SECURITY AND COLLATERAL 2.1 Collateral. Security and Collateral required in Section 1.7 herein, as security for the performance by Developer of its obligations under this Agreement, shall be in the total amount of$ 220,000.17. The Developer shall obtain collateral in such form acceptable to the County ("Collateral") prior to approval of the Red Canyon Road Grading Permit, File No. MI- 12036. 2.2 Partial Release of Collateral. Developer may apply to the County for the release of portions of the Collateral based upon the work completed in accordance with this Agreement. To make such releases, Developer shall request the County Engineer to inspect the work in order to verify satisfactory completion in accordance with plans and specifications in accordance with Section 1.6. 2.3 Final Release ofCollateral/Warranty. Within thirty (30) days after Developer has completed all of the work required by this Agreement and the work has been approved and accepted by the County, the entire remaining amount of the Collateral, less an amount equal to ten percent (10%) of the original Collateral, shall be released. Developer shall be responsible for the condition ofthe Public hnprovements for a period of two (2) years after completion; this shall be guaranteed either through the retention of Collateral, as set forth above, or Developer may provide a guarantee bond in an amount and in a form acceptable to the County - which would be substituted for the release of the entire amount ofthe Collateral. 2.4 Substitution of Collateral. The Developer may at any time substitute the Collateral originally deposited with the County herein, for another form of collateral acceptable to the County, to guarantee the faithful completion of the Public hnprovements referred to herein and the performance of the terms of this Agreement. At the time of substitution of collateral, an inflationary and/or deflationary factor based upon the Denver-Boulder, Colorado Consumer Price Index for All Urban Consumers, All Items (1967=100) published by the U.S. Bureau of Labor Statistics, 303-837-2467, or, alternatively, an approved construction cost index, shall be used to determine an adjusted estimated cost for all Public Improvements as described herein, and collateral shall be submitted by the Developer in accordance therewith. 2.5 Draws. Draws against the Collateral shall only be made as directed by written Resolution of the County, stating that there has been an event of default under this Agreement and that a sum certain is required to remedy the default. Any amount drawn on the Collateral must be applied for the purpose of completing the work required by this Agreement and related expenses and costs. 2.6 Events of Default. The following events shall be deemed "Events of Default," entitling the County to draw on the Collateral: 2.6.1 If Developer has not completed the work required by this Agreement within thirty (30) days prior to the Date of Completion set forth herein, the County may, after ten (10) working days written Notice to Developer, draw upon the Collateral an amount sufficient to complete said work and compensate the County for its reasonable costs and expenses related to said draw. 4 2.6.2 If the original collateral presented to the County (or any extension thereof) is due to expire and the work is not yet completed, and Developer has not provided substitute collateral or the bank's written extension to the original collateral (as it may have been previously extended), the County shall draw on the Collateral according to the provisions set forth in this Section 2. It is Developer's responsibility, with or without notice, to ensure that the Collateral is extended, or that substitute collateral is provided in a form acceptable to the County, at least ten days prior to its expiration. If Collateral is neither extended nor substitute collateral provided, in a form acceptable to the County, at least ten days prior to its expiration, the Developer shall pay the County an additional $500 (Five hundred dollars) for the additional administrative work required because of the failure to extend or substitute collateral in a timely manner as required by this agreement. 2.6.3 If the Collateral is substituted, as otherwise provided herein, this Agreement maybe amended or modified in order to set forth specific Events of Default deemed necessary, in the County's sole discretion, commensurate with the type of collateral substituted. 2.7 Costs and Expenses. Developer agrees to pay any costs and expenses, including but not limited to legal fees, which the County may incur in determining to accept collateral, in drawing upon the collateral, or in accomplishing an extension of its expiration. 3. INSURANCE and lNDEMNIFICA TION 3.1 Certificates of Insurance. The Developer shall secure from any contractor or subcontractor engaged in the work necessary to comply with this Agreement a Certificate of Insurance providing for liability protection in the minimum amount of$150,000 per individual and $600,000 per occurrence, naming the county as an additionally named insured. The Developer, ifit serves as the contractor for the Public Improvements, shall provide insurance in the same form and amounts as required of the general contractor. Said limits shall be adjusted to comply with any changed limits in the Colorado Governmental Immunity Act, Title 24, Article 10, Colorado Revised Statutes. 3.2 County Incurs No Liability. The County shall not, nor shall any officer or employee thereof, be liable or responsible for any accident, loss or damage happening or occurring to the Public Improvements specified in this Agreement prior to the completion and acceptance of the same; nor shall the County, nor any officer or employee thereof, be liable for any persons or property injured or damaged by reasons of the nature of said work on the Public Improvements, but all of said liabilities shall be and are hereby assumed by the Developer. The Developer hereby agrees to indemnify and hold harmless the County and any of its officers, agents and employees against any losses, claims, damages or liabilities for which the County or any of its officers, agents, or employees may become subject to, insofar as any such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any performance by the Developer hereunder; and the Developer shall reimburse the County for any and all legal and other expenses incurred by the County in connection with investigating or defending any such loss, claim, damage, liability or action. This indemnity provision shall be in addition to any other liability which the Developer may have. 5 4. GENERAL PROVISIONS The following shall apply to all Public Improvements, including off-site improvements, set forth in this Agreement: 4.1 Compliance with Land Use Regulations. The Developer shall be required to obtain all necessary permits and comply with the provisions of the Land Use Regulations, including but not limited to the Regulations for Construction within the Public Ways of Eagle County (Chapter V), as the same are in effect at the time of commencement of construction of the Public Improvements referred to herein. 4.2 Public Improvement Agreement Controls. In the event of any inconsistency or incongruity between the provisions ofthis Agreement and the Land Use Regulations, the provisions of this Agreement shall in all respects govern and control. 4.3 Warranties and Guarantees. There shall be a two-year correction period, or such longer period as may be prescribed by law, from the time of completion of the Public Improvements during which time the Developer shall promptly correct or remove and replace, in accordance with the County's written instructions, defective work or materials and consequences thereof. Repair or replacement made under the two-year correction period shall bear an additional one-year correction period from the acceptance of the repair or the replacement by the Eagle County Engineer. The work shall be collateralized during the correction period in an amount and type of collateral as shall be reasonably determined by the County. The work shall be inspected, at the request of the Developer no less than sixty (60) days prior to expiration of the one-year additional correction period, and any deficiencies shall be noted to the Developer. 4.4 Amendment and Modification. The parties hereto mutually agree that this Agreement may be amended or modified from time to time, provided that such amendment or modification be in writing and signed by all parties hereto. 4.5 Assignability. This Agreement shall be enforceable against the Developer, provided, however, that in the event the Developer sells, transfers or assigns all or part ofthe subject property, the obligations of the Developer under this Agreement as to that portion of the subject property may be assumed in writing by the purchaser ofthe parcel, and the Developer shall have no further obligations hereunder. It is agreed, however, that no such assumption of these obligations shall be effective unless the county gives its prior written approval to such assumption following an investigation of the financial condition ofthe purchaser. The Developer shall not otherwise assign, transfer, convey, pledge or otherwise dispose of this Agreement without prior written consent of the County, which consent shall not be unreasonably withheld. 4.6 Binding upon Successors. This Agreement shall inure to the benefit of and be binding upon the parties hereto, their respective successors, and assigns. 4.7 Sole Responsibility of Developer Prior to County Acceptance. It is further agreed and understood that at all times prior to the completion and acceptance of the Public 6 Improvements set forth herein by the county, each of said improvements not accepted as complete shall be under the sole responsibility and charge of the Developer. When it is necessary to allow the general public to utilize the roadways under construction by the Developer, traffic control and warning devices shall be placed upon such roadways by the Developer in accordance with the Manual on Uniform Traffic Control Devices for Streets and Highways as prepared by the U.S. Department of Transportation, Federal Highway Administration. 4.8 No Rights to Third Parties. This Agreement does not and shall not be deemed to confer upon or grant to any third party any right to claim damages or to bring any lawsuit, action or other proceedings against either the County or its officers, employees or agents because of any breach hereof or because of any terms, covenants, agreements or conditions contained herein. 4.9 Notice. Notice required pursuant to the terms ofthis Agreement shall be deemed given on the day that the same is placed in the United States Mails, postage prepaid, certified or registered mail, return receipt requested. 4.10 Enforcement and Attorney Fees. The County may enforce the provisions of this Agreement in the same manner and with the same remedies applicable to the enforcement of land use regulations pursuant to the Eagle County Land Use Regulations, as they maybe amended from time to time, or as otherwise provided by law. Alternatively, the terms of this Agreement may be enforceable by the Board or its designee by any appropriate equitable or legal action, including but not limited to specific performance, mandamus, abatement, or injunction. The remedies explicitly provided herein are cumulative, and not exclusive, of all other remedies provided by law. The prevailing party in any action brought pertaining to this Agreement shall be entitled to an award of costs and reasonable attorney's fees. 7 IN/WITNESS WHEREOF, the parties hereto have executed this Agreement this day of.~:::?t?~~~~;:e>;7 ,2005. COUNTY OF EAGLE, STATE OF COLORADO, By and Through its ATTEST: BOARD OF COMMISSIONERS Address for giving notice: P.O. Box 850 Eagle, CO 81631 (970) 328-8685 DEVELOPER: RED CANYON HOMEOWNERS' ASSOCIATION By: <jtv1t~ ^ ywvt Address for giving notice: P.O. Box 463 Edwards, CO 81632 STATE OF COLORADO ) ) SS County of Eagle ) The foregoing was acknowledged before me this 3::J 7"11- day of ~T , 2005, by /J'JfjCl( Il}J{i-!tJLS as Ik[s. of IfC /-loA , a WITNESS my hand and official seal. My commission expires S-I2t/o7 I I 8 P.O. Box 1729 Edwards, CO 81632 Ph. Sro.92G-3311 Fat 970-926-2344 Date: 8/2312005 Submitted To: Red Canyon Homeowner's Association Bid TItle: 2oo5-Red Canyon Access Add.....: C/O Mr.Jeff Cobb, Edwards, CO Bid Number: Edwards, CO 61632 Project Location: Contact: Projac:t City, state: Phone: Fax: engineer/ArchItect: Benchmark Engineering Une No. Item No. Item Description Estimated Quantity Unit Unit Price Total Price 1 Asphalt Paving 3,000.00 TON $41.16 $123,540.00 2 Fine Grade Road Base & Shoulders 1,428.00 TON $29.04 $41,469.12 3 Culvert Clean Allowance 1.00 LS $4,025.00 $4,025.00 4 Box Culvert & Grading Improvements 1.00 LS $14,866.00 $14,866.00 5 Engineering Services 1.00 LS $13,800.00 $13,800.00 6 Testing Allowance 1.00 LS $2,300.00 $2,300.00 7 Contingency Per Eagle County Security And 1.00 LS $20,000.05 $20,000.05 Collateral Requirements (10%) Total Bid Price: $220,000.17 Payment Terms: Payment due within 30 days of date of invoice, regardless of when payment is made by Owner ACCEPTED: CONFIRMED: The above prices, specifications and conditions B & B Excavating, Inc are satisfactory and are hereby accepted. Buyer Authorized Signature Signature: Date of Acceptance Estimator: EXHIBIT f- Page 1 of 1 I Pr [J7COLORADO BUSINESS BANK IRREVOCABLE STANDBY LETTER OF CREDIT Letter of Credit Number: 1165 Expiration Date: January 1,2006 Date: August 30, 2005 Beneficiary Name: Eagle County Engineering Department Address: PO Box 850 / 500 Broadway City, State, Zip Code: Eagle, CO 81631 Applicant Name: Red Canyon Estates Homeowners Association, Inc. Address: 701 Red Canyon Creek Rd. City, State, Zip Code: Edwards, CO 81632 We hereby issue our Irrevocable Standby Letter of Credit No. 1165 in your favor in the amount of Two Hundred Twenty Thousand and 00/100 U.S. Dollars (USD $220,000.00) and expiring at the close of business (3:00 p.m. Mountain Time) on January 1, 2006 at our counters at Colorado Business Bank, Loan Operations Department 3 rd floor, 821 17th Street, Denver, CO 80202. This letter of credit is available by presentation of your draft(s) at sight, drawn on Colorado Business Bank, accompanied, in the case of each such draft, by the original letter of credit and amendment(s), if any. Special Conditions: Partial drawings are allowed. All banking charges other than those of Colorado Business Bank are for the account of the beneficiary. This Letter of Credit shall have a full and final maturity date of January 1, 2006. 0056 Edwards Village Blvd., Suite 130. Edwards, Colorado 81632 P.O. Box 2826. Edwards, Colorado 81632 Tel: 970.926.6801 . Fax: 970.926.6806 www.cohi7h;>ni< rAm We hereby agree with you that drafts drawn under and in accordance with the terms of this letter of credit will be duly honored upon presentation of drafts(s) and required document(s) at our office no later then the close of business (3:00 Mountain Time) at 821 1 ih St., Loan Operations Department 3rd floor, Denver, Colorado 80202, U.S.A. on or before the expiry date of this Letter of Credit. Unless otherwise expressly stated, this letter of credit and all negotiations hereunder shall be governed by and construed in accordance with the International Standby Practices ISP98, as published by the International Chamber of Commerce Publication No. 590, and, to the extent not inconsistent therewith, the laws of the State of Colorado. This letter of credit is not transferable unless Colorado Business Bank agrees to the transfer in writing. Please direct any inquiries with regard to this Letter of Credit to Colorado Business Bank, Loan Operations Department, 821 1 ih Street, Denver, CO 80202 (303)293-2265. ,Reg~rds, , , "t / "\'[/J , Phi ip H. Hancock, Vice President