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HomeMy WebLinkAboutC06-226 EAGLE COUNTY, COLORADO SADDLE RIDGE METROPOLITAN DISTRICT INFRASTRUCTURE COST RECOVERY AGREEMENT This INFRASTRUCTURE COST RECOVERY AGREEMENT ("Agreement") is entered into this I( day of , 2006, between EAGLE COUNTY, COLORADO, a political subdivision of the State f Colorado ("Eagle"), and SADDLE RIDGE METROPOLITAN DISTRICT, a quasi-municipal corporation and political subdivision of the State of Colorado ("Saddle Ridge"). Collectively, Eagle and Saddle Ridge shall be referred to as "Parties. " RECITALS 1. Each of the Parties is authorized and enabled through statute or enabling documents to enter into contracts for the benefit of the residents and taxpayers of each. 2. The Parties desire to enter into an agreement which will provide for the widening of Cooley Mesa Road (the "Road") to a four lane road approximately 3,290 feet between Airport Gateway Center and Navajo Road. Eagle owns property (the "Eagle Property") with frontage on the Road, more particularly described in Exhibit A, attached hereto and incorporated herein. 3. Saddle Ridge has committed, through its Service Plan, to provide public infrastructure to support property within its boundaries, including the commercial property with frontage on the Road (the "Saddle Ridge Property ") , more particularly described in Exhibit B, attached hereto and incorporated herein. 4. The widening of Cooley Mesa Road will benefit the constituents of all of the Parties. COVENANTS NOW THEREFORE, in consideration of the terms and covenants of this Agreement, the sufficiency of which is hereby acknowledged by the Parties, the Parties agree as follows: ARTICLE I DEFINITIONS 1.1 Certain Definitions. As used in this Agreement: 1.1.1. "Benefits Analysis" means an Institute of Transportation Engineers ("ITE") Trip Generation study conducted by an independent third-party mutually-agreed to by Eagle and Saddle Ridge for the purpose of determining through customary and usual ITE Trip Generation modeling analysis the percentage which the Eagle Property and the Saddle Ridge Property will utilize the Project based on the uses of each property that have received final developmental approval from the applicable governmental authorities. The Parties shall mutually and reasonably agree as to the scope, cost and completion date of the study. Either Eagle or Saddle Ridge may initiate the study at a cost to be born equally by the parties no later than ninety days after Development of the Property. Each of the Parties shall abide and accept without contest the findings of the study with regard to the determination of the Eagle Cost Share and the Saddle Ridge Cost Share. 1.1.2. "Development of the Property" means the first date on which there is (a) the approval of a final plat, location and extent, or similar final land use approval for private commercial improvements, or (b) the issuance of a building permit for any part or parcel of the Property for private commercial improvements, and (c) conveyance of a real property interest in the Property, or so much of the Property which is subject to (a) or (b) above, to a Reimbursement Party . If Development of the Property occurs on only a portion or portions of the Eagle Property, the ITE Trip Generation modeling shall only compare the traffic generated from the approved uses on those developed portions with the traffic generated from approved uses on the Saddle Ridge Property. Saddle Ridge may request additional Benefits Analysis as additional portions of the Eagle Property are developed. 1.1.3. "Eagle" means Eagle County, Colorado. 1.1.4. "Eagle Cost Share" means the lesser of (a) 45% of the Project Costs, determined as the percentage which Eagle's commercial area (20.331 acres) bears to the combined commercial areas of Saddle Ridge and Eagle, which combined area is 45.218 acres, (b) the amount determined through the Benefits Analysis to be attributable to the Property. 1.1.5. "Plans and Specifications" means the plans and technical specifications for the construction ofthe Project. 1.1.6. "Project" means the design and construction for the purpose of improving and widening a portion of Cooley Mesa Road from Navajo Road to Airport Gateway Center to a four-lane width. The Project consists of approximately 3,290 linear feet of roadway 2 improvements and includes a bridge over Alkali Creek. The Project does not include the cost of center medians, access lanes (beyond the four lanes) or roundabouts; Eagle and Saddle Ridge are each separately and independently responsible for any additional costs associated with such items serving or attributable to their development. 1.1.7. "Project Costs" means, the Saddle Ridge engineer's estimate of probable costs for the Project dated June 12,2006 attached hereto as Exhibit C, and incorporated herein. 1.1.8. "Reimbursement Obligation" means the Eagle Cost Share, pursuant to Section 4.1 herein. 1.1.9 "Reimbursement Party" means an individual or entity to whom is conveyed a real property interest (including leases, rentals and licenses) in and to the Eagle Property for the purpose of commencing, financing or in furtherance of providing private commercial activity and improvements to the Property, but excluding the governmental purposes and uses described in Section 4.1.3. 1.1.10. "Saddle Ridge" means Saddle Ridge Metropolitan District, Gypsum, Colorado. 1.1.11. "Saddle Ridge Cost Share" means the either (a) 55% of the Project Costs, determined as the percentage which Saddle Ridge's commercial area (24.887 acres) bears to the combined commercial areas of Saddle Ridge and Eagle, which combined area is 45.218 acres, or (b) the amount determined through the Benefits Analysis to be attributable to the Saddle Ridge development. If the Eagle Cost Share is determined under 1.1.4(a), then the Saddle Ridge Cost share shall be the amount determined under 1.1.1 1 (a), and if the Eagle Cost Share is determined under I.IA(b), then the Saddle Ridge Cost Share shall be determined under 1.1.11 (b). ARTICLE II PURPOSE AND TERM OF AGREEMENT 2.1. Purpose. The purpose of this Agreement is to set forth the rights and obligations of the Parties to finance, construct, dedicate and receive reimbursement for the Project. The benefits, burdens, rights and obligations herein are specifically intended to inure to the successors and assigns of the Parties. The Parties anticipate that the Reimbursement Obligation herein shall be assigned in whole or in part to one or more Reimbursement Parties if, and to the extent, the Eagle Property is developed or used for nongovernmental purposes as further described herein. 3 2.2 Term. This Agreement shall become effective as of the date first \vritten above and shall remain in full force and effect until December 31, 2018, unless terminated earlier in accordance with the terms of this Agreement, or extended by mutual agreement of the Parties. It is the intent of the Parties that the Project be completed and that the Reimbursement Obligation to Saddle Ridge be paid within the time periods set forth herein. ARTICLE III DESIGN, CONSTRUCTION AND DEDICATION PROVISIONS 3.1. Plans and Specifications. Saddle Ridge shall cause to be prepared complete Plans and Specification for the Project and shall hand deliver said Plans and Specifications to Eagle no later than five weeks after execution of this Agreement. Eagle shall have two weeks to provide comments on the Plans and Specifications to Saddle Ridge. After receipt of the comments, Saddle Ridge shall incorporate all reasonable comments and prepare a final set of Plans and Specifications for bid packages and submission to the Town of Gypsum for final approval. 3.2. Sufficiency of Plans. The Plans and Specifications shall meet all applicable rules, standards and codes of Gypsum, Eagle and other government agencies having jurisdiction. 3.3. Construction Documents. The construction documents for the Project shall require payment, performance and warranty bonds to be issued. The bonds shall name Saddle Ridge as the obligee. The construction. documents shall require a warranty for all key components of the Project for a period of time equal to the warranty requirements of Gypsum for road improvements. 3.4. Right-of- Way or Easements. Saddle Ridge shall acquire all easements and right- of-way necessary for the Project. Except as set forth hereunder, Saddle Ridge and Eagle agree that any easements or right-of-way owned by any of them shall be contributed to the Project without cost. Any third party reimbursement to acquire right of way or any payments required to satisfy Federal Aviation Authority requirements for release of Eagle right of way shall be paid by Saddle Ridge. To the extent necessary, all parties agree to execute all conveyance documents, deeds, easement and licenses for the project. All appraisals and appraisal costs necessary for the acquisition or transfer of permanent rights of way or temporary construction easements shall be obtained and paid by Saddle Ridge. 4 3.5. Construction of Proiect. Saddle Ridge will contract for, supervise and cause construction of the Project: 3.5.1. Construction shall obtain and comply with all necessary governmental approvals, and shall be bid and contracted for in accordance with Colorado and other applicable laws, rules, regulations and order. Saddle Ridge shall diligently and continuously prosecute to completion the Project in compliance with the Plans and Specification, the construction documents, and all applicable laws, rules and regulations. 3.5.2. Change orders may be approved by Saddle Ridge if the cost of the change order, together with all previously approved change orders, do not cumulatively exceed 10% of the total contract price. If a change order will cause the total cost of all approved change orders to exceed 10% of the total contract price, then Saddle Ridge shall obtain the written approval and consent of Eagle before approving the change order or any subsequent change orders. 3.6. Construction Claims. Saddle Ridge shall, to the extent practical and cost- effective, assert against any contractor involved in the Project any claim that Saddle Ridge may have against the contractor according to the terms of any construction contract, guarantee or warranty. 3.7 Dedication for Ownership and Maintenance. Upon completion of the construction of the Project, Saddle Ridge shall dedicate the Project improvements to Gypsum, subject to applicable warranties. ARTICLE IV COST P ARTICIP ATION, RECOVERY AND ENFORCEMENT 4.1. Eagle to Reimburse Project Costs. Eagle agrees, for itself and on behalf of all future property owners and Reimbursement Parties, that the Reimbursement Obligation shall be paid to the District as follows: 4.1.1. From the date of execution of this Agreement until December 31, 2018, the Reimbursement Obligation shall be due ninety (90) days after Development of the Property. 4.1.2 After December 31, 2018, the Reimbursement Obligation shall be deemed extinguished and no further amounts shall be due as and for the Reimbursement Obligation. 4.1.3. No Reimbursement Obligation shall be payable on the Eagle Property, or portion thereof, developed by Eagle, the Eagle County Air Terminal Corporation, or other Eagle created entity for any and all governmental purposes and uses, including but not limited to office 5 space, storage, affordable housing, parking or other airport related functions, provided, however, that should the County develop the Eagle Property, including development as a landlord or lessor, and lease all or any portion for nongovernmental purposes or uses, then the Reimbursement Obligation shall be due for the pro rata portion of the Eagle Property not being utilized for governmental purposes. 4.1.4. Development of the Property may commence for separate parcels of the Property at different times. In that event, Eagle shall pay the lesser of (a) the percentage of the Project Costs determined as a percentage of the area then being developed bears to the combined commercial areas of Saddle Ridge and Eagle, which combined area is 45.218 acres or (b) the amount determined through ITE Trip Generation modeling which shall only compare the traffic generated from the approved uses then being developed with the traffic generated from approved uses on the Saddle Ridge Property. 4.2. Recordation of Real Estate Interests. Eagle covenants and agrees that all interests in real estate in the Property conveyed by it to Reimbursement Parties shall be promptly recorded in the real estate records of the Eagle County Clerk and Recorder's Office and that a copy of such conveyance shall be sent to the District pursuant to Section 6.10. 4.3. Creation of Other Entities on Property. 4.3.1. Eagle shall not petition for the creation of, nor authorize any Reimbursement Party to petition for the creation of, a special district or taxing unit under Title 31 or Title 32, Colorado Revised Statutes, the boundaries of which encompass all or any portion of the Property unless that special district or taxing unit is required, as part of the creation, organization and approval process, through its service plan, petition, or approving resolution, to acknowledge and authorize the payment of the Reimbursement Obligation from all legally available funds of that entity. Further, it shall be a condition of the service plan, petition or approving resolution that no debt or other multiple fiscal year obligation or revenue obligation of any kind whatsoever shall issue except that such obligation shall be junior in priority and subordinate to that of the Reimbursement Obligation. 4.3.2. Eagle agrees that it shall not convey real estate interests in the Property, in whole or in part, to other governmental entities, component units of governmental entities, taxable units of governmental entities, enterprises, authorities, 63-20 corporations, nonprofit corporations, or other entities which could hold a real property interest in the Property in 6 furtherance of the activities of Eagle, for the purpose or with the result of avoiding payment of the Reimbursement Obligation. 4.3.3. In the event Eagle does convey interests in the Property to other governmental or related entities which entity or entities issue obligations of any kind to support the development of the Property, the obligations shall be pledged first to the payment of any applicable Reimbursement Obligation. Such obligations shall include, but shall not be limited to, the conveyance of interests to an entity capable of issuance of tax-exempt bonds, notes or other obligations secured from revenues, taxes, charges or fees collected and imposed on the Property. In addition, Eagle shall require that any sales tax, use tax or other revenue sharing mechanisms negotiated with regard to the Property, or any part thereof, shall be pledged to and defray the Reimbursement Obligation before such sharing mechanism is used for any other purpose. Until paid, the Reimbursement Obligation shall have first and exclusive lien on such revenues, sharing mechanisms, taxes, charges or fees. 4.4. Reimbursement Obligation a Covenant Running with the Land. The provisions of this Agreement touch and concern the Property and the provisions of this Agreement shall be a covenant running with the land and shall be binding upon and inure to the benefit of Eagle and successors in title, including, but not limited to, Reimbursement Parties. Upon conveyance of title to or other real estate interest in the Property, and recordation thereof, all rights, benefits and burdens of the conveying property owner hereunder shall inure to and be binding upon the successors in title, and all obligations of the conveying property owner shall become the obligation of the successors in title. Upon termination of this Agreement pursuant to Section 2.2, the Parties agree that the obligations of the Property shall be extinguished. ARTICLE V BREACH AND REMEDIES 5.1. General Provisions. In the event of breach of any provision of this Agreement, and if such breach is not the result of a prohibition by law, in addition to contractual remedies, any Party may ask a court of competent jurisdiction to enter, as applicable, a writ of mandamus, or a temporary and/or permanent restraining order, or an order of specific performance, to compel the defaulting Party or Parties to perform its obligations under this Agreement. 7 ARTICLE VI MISCELLANEOUS 6.1 Warranties and Representations. Each Party represents and warrants to the other that it has taken all necessary action to authorize the execution of this Agreement. Each Party represents and warrants to the others that the execution of this Agreement and performance of the Party's obligations hereunder do not conflict or constitute a breach of or a default under any prior obligation, agreement, commitments, existing law, rule, regulation or resolution by which the Party is bound or under which the Party is subject. 6.2 Relationship of Parties. This Agreement does not and shall not be construed as creating a relationship of joint venturers, partners, or employer-employee between the Parties. 6.3. Assignment and Delegation. Except for those assignments and delegations described below, assignments and delegations by any Party shall require the prior, express, written consent of each of the other Parties, which consent shall not be unreasonably withheld. 6.3.1. It is specifically contemplated by the Parties that Saddle Ridge may delegate the construction obligations set forth in Article III to the developer of the property within the Saddle Ridge. 6.3.2. Eagle shall require each Reimbursement Party to execute an assignment and delegation of this Agreement to the extent of their pro rata Reimbursement Obligation as it relates to the Eagle Cost Share for the Project. Eagle shall not approve or permit the use of any portion of the Eagle Property by a Reimbursement Party until and unless such assignment and delegation has been executed by said Reimbursement Party. 6.4. Modification. This Agreement may be modified, amended or changed, except as otherwise provided herein, in whole or in part, only by an agreement in writing duly authorized and executed by all of the Parties hereto. No consent of any third party shall be required for the negotiation and execution of any such modifications. 6.5. Waiver. The waiver of a breach of any of the provisions of this Agreement by any Party shall not constitute a continuing waiver or a waiver of any subsequent breach by the other Parties of the same or another provision of this Agreement. Nor shall the waiver of a breach by one Party constitute waiver of breach by the other non-breaching Party. 8 6.6. Integration. This Agreement contains the entire agreement between the Parties and no statement, promise or inducement made by any of the Parties or the agent of any Party that is not contained in this Agreement shall be valid or binding. 6.7. Severability. Invalidation of any of the provisions of this Agreement or of any paragraph, sentence, clause, phrase, or word herein, or the application thereof in any given circumstance, shall not affect the validity of any other provision of this Agreement. 6.8. Survival of Obligations. Unfulfilled obligations of any Party arising under this Agreement shall be deemed to survive the expiration or termination of this Agreement and the completion of the Project which is the subject of this Agreement, and shall be binding upon and inure to the benefit of the Parties and their respective successors and permitted assigns. 6.9. Governing Law. This Agreement shall be governed and construed in accordance with the laws of the State of Colorado. Venue shall be in Eagle, Colorado. 6.10. Headings for Convenience Only. The headings, captions and titles contained herein are intended for convenience and reference only and are not intended to define, limit or describe the scope or intent of any of the provisions of this Agreement. 6.11. Notices. Any notices or other communications required or permitted by this Agreement or by law to be served on, given to or delivered to the other Parties, by any Party, shall be in writing and shall be deemed duly served, given or delivered when personally delivered or sent by U.S. Certified Mail, return receipt requested, or by nationally-recognized overnight courier for delivery on the next business day, receipt acknowledged, addressed to the Parties at the addresses set forth below or at such other address as either Party may hereafter or from time to time designate by written notice to the other Parties in accordance herewith. Notwithstanding the foregoing, any notice or mVOlce or other communication to a Reimbursement Party may be given by U.S. first class mail, addressed to the Reimbursement Party at the address set forth below. To Saddle Ridge: Saddle Ridge Metropolitan District c/o Boundaries Unlimited 823 Blake Ave, Suite 102 Glenwood Springs, CO 81601 Attn: Bruce D. Lewis With a copy to: Miller, Gruber & Rosenbluth, LLC 700 17th Street, Suite 2200 Denver, Colorado 80202 9 Attn: Dianne D. Miller, Esq. To Eagle: Eagle County Administrator P.O. Box 850 Eagle, Colorado 81631 With a copy to: Eagle County Attorney P.O. Box 850 Eagle, CO 81631 If to any Reimbursement Party: Notices shall be sent to Reimbursement Parties at the address for the Reimbursement Party as shown on the records of the Treasurer of Eagle County, Colorado. 6.12. Government Authority. The Parties shall comply with any and all valid state, federal or local laws or regulations covering the subject of this Agreement, and any and all valid orders, regulations or licenses issued pursuant to any federal, state or local law or regulation governing the subject of this Agreement. 6.13. Recording. This Agreement, shall be recorded in the real property records of the Eagle County Clerk and Recorder's Office. 6.14. No Third Party Beneficiaries. It is expressly understood and agreed that enforcement of the terms and conditions of this Agreement, and all rights of action relating to such enforcement, shall be strictly reserved to the Parties, their successors and assigns and nothing contained in this Agreement shall give or allow any such claim or right of action by any other third party on such Agreement. It is the express intention of the Parties that any person other than the Parties receiving services or benefits under this Agreement shall be deemed to be an incidental beneficiary only. 6.15. Governmental Immunity. Nothing herein shall be construed as a waiver of the rights and privileges of the Parties pursuant to the Colorado Governmental Immunity Act, ~~ 24- 10-101, et seq., C.R.S., as amended from time to time. 6.16. Fair Dealing. In all cases where the consent or approval of any of the Parties is required before another may act, or where the agreement or cooperation of any or all of the Parties separately or mutually is required as a legal or practical matter, then in that event the 10 Parties agree that each will act in a fair and reasonable manner with a view to carrying out the intents and goals of this Agreement as the same are set forth herein, subject to the terms hereof; provided, however, that nothing herein shall be construed as imposing on any Party any greater duty or obligation to the other than that which already exists as a matter of Colorado law, including but not limited to any fiduciary duty or other responsibility greater than that of reasonable parties contracting at arms length. 6.17. Parties to Exercise Good Faith. The Parties agree to devote their best efforts and to exercise good faith in implementing the provisions ohhis Agreement. 6.18. Force Majeure. Each Party shall be excused from performing its obligations under this Agreement during the time and to the extent that it is prevented from performing by a cause beyond its control, including, but not limited to: any incidence of fire, flood, or strike; acts of God; acts of the Government; war or civil disorder; violence or the threat thereof; severe weather; commandeering of material, products, plants, or facilities by the federal, state, or local government; national fuel shortage; when satisfactory evidence of such cause is presented to the other Parties, and provided further, that such nonperformance is beyond the reasonable control of, and is not due to the fault or negligence of, the Party not performing. 6.19 Counterpart Execution. This Agreement may be executed by the Parties in counterpart. [Remainder of page intentionally left blank.] 11 IN WITNESS WHEREOF, the Parties hereto have executed this Agreement as of the day and year first above written. EAGLE COUNTY, STATE OF COLORADO BY AND THROUGH ITS B ARD OF COUNTY COM 0 By: ATTEST: C-~ 4(0 By: c::: .c.a.. .- Teak J. Simonton, Cler to the Board Of County Commissioners SADDLE RIDGE METROPOLITAN DISTRICT Bruce D. Lewis, ATTEST: Approved as to form: Miller, Gruber & Rosenbluth, LLC, As general counsel to Saddle Ridge 12 *t EXHIBIT A "',. I I I I I I I I PARCEl. 21 I I I I :g. I ....1 I I I ~I TRACT 53 I~T ~. I I I I - I - I - I LOT 12 FOlJIC) 2-"" U.$.C.Lo. IIIASS eN' al~"_l'I'E /\.P. 1 '" 54 _____ H 2 ~ --------------- fiQ1E. 6 "THIS EXHIBIT MAP IS INlENOED ONLY AS AN AID TO fOLLOW "THE AlTAQiED LEGAL EXHIBIT MAP DESCRIpnON AND DOES NOT REPRESENT A LAND SURVEY PlAT ACCORDING TO SCALE: 1"=400' COLORADO STATUTES. GREENMAN DATE: 07-06-06 EXEl.lpnON PlAT IN BOOK 505. PAGE 289 TO MAP ROTAnON IS OO-s.'10". DWG: SRD.DWG * SADDLE NO. DATE REVISION EAGLE COUNTY RIDGE ENGINEERING DEPARTMENT PROPERTY P.O. BOX 850. 500 BROADWAY ,----- EAGLE. CO 81631 -...................... 970328-3560 FAX 970 32B-a789 -"-"- PAGE 1 OF 3 '=2:?J='/ PAGE: 1 0 3 ISSUED: 07-07-<)6 DRAWN: KLM CHECKED: KLM 2 EXHIBIT "A" July 7,2006 A description of a Tract of Land located in Tract 54 of Section 2, T5S, R85W of the 6th P.M., in Eagle County, Colorado. For: Eagle County. LEGAL DESCRIPTION A tract ofland, located in a part of Tract 54 in Section 2, T5S, R85W of the 6th P.M., County of Eagle, State of Colorado, according to the Independent Resurvey ofT5S, R85W, as approved by the U.S. Surveyor General in Denver, Colorado, on June 20, 1922, described as follows: COMMENCING at an existing brass cap marked as Comer No.3 of Tract 53 in said Section 2, from which an existing brass cap marked as Comer No. 1 of said Tract 54 bears S88008'48"E, 2641.29 feet (Basis of Bearing); thence S88008'48"E, 714.25 feet to the Northeasterly Comer of Parcel A, GREENMAN EXEMPTION PLAT, a subdivision located in Tract 54, T5S, R85W, County of Eagle, State of Colorado, as recorded April 28, 1989, in Book 505 at Page 289 of the records of Eagle County, Colorado, and the TRUE POINT OF BEGINNING; Thence S88008'48"E, 1375.99 feet along the North Line of said Tract 54; Thence SOoo53'37"W, 680.57 feet; Thence S80041'05"W, 340.38 feet; Thence N88038'27"W, 371.22 feet; Thence N69047'07"W, 610.83 feet; Thence N40014'03''W, 194.35 feet; Thence S50058'52''W, 478.32 feet; Thence N02006'59"W, 197.60 feet; Thence N22055'20"E, 141.62 feet to the Easterly line of said Parcel A, as recorded in said Book 505 at Page 289; Thence N48051'48"E, 102.18 feet along the Easterly line of said Parcel A, as recorded in said Book 505 at Page 289; 3 Thence N41 o08'12"W, 50.00 feet along the Easterly line of said Parcel A, as recorded in said Book 505 at Page 289; Thence N48051'48"E, 425.94 feet to the Easterly line of said Parcel A, as recorded in said Book 505 at Page to the TRUE POINT OF BEGINNING. Area = 24.868 acres, more or less. SEE PAGE 1 OF 3 FOR EXHIBIT MAP NOTICE: According to Colorado law you must Kelly L. Mi~ ,.... <,.... d~, commence any legal action based upon any defect in Colorado ~r e~~rw s1"O; "'" ~ this survey within three years after you first discovered such defect. In no event, may any action Surveyor l\i<.b3,79 : ~ 2 based upon any defect in this survey be commenced 500 Broad~~t:i;agle, CO ~1'6'3f0850 more than ten years from the date of the certification ~ J' ". ..' ~~ ~ shown hereon. / #i;, "}t~ ~ .'0 b Date: tt / 1fIt+t .-::;J~O il/ffJlfunHt\\\\P Project: AIRPORT BOUNDARY SDLRIDPROP.DOC EXHIBIT B - ---- - co, HWY No -- - - , 8 COt -;;;;::- _ ~ ~~~~~ ~ ~~~llEP~ I- S80'30'57" OF ll'Ay iIN> ~~ - - __ () (" < 189331' 0::: . -- ,-; -------- -- lRSS lR 5e A.P. 3 lR Sl AP.8lRSJ I I I I SET ON 15 REBAR I I I 'MlH 3-1/.... AL.I..IWN.JW I I CAP STMFEo LS 33421 I : OTHER PINS FOUICl: I : : IS REBAR So 7e' NORTH I USED fOR UHE I I I I TRACT 53 I LOT 1 I PARCEL 15 i PARCEL 21 ~ . I I- I I 01 I r- ~ I AIRPORT GA lEWA Y CENlER LOT 11 .- I /"------____ I ! BOOK 703, PAGE 036 LOT //" .(\~.........---...-...-... ...-...-......_...... _ -- : I I I /'q ~/ M------ -------- : I - I "/"".:Y:'/~.' ... ...----...- -~......~ ---. I /A-/ ~--- . --------) i _____ ~ (W:' /," ~/ ......-......""""'..."" - I~ /<~/.(\ --- CllClLIY.~ FOONO ~. IRON PIPE /~/ OF IIlMD (Ilr) ..TH 2-Ji" U.s.G.L.O. /.-3 /' ~.:'I 1.=84359 I BRASS eN' / C"/ "..,.)0 ยท . AP. 3 lR SJ ,/ ,/ .67..'# R=950.oo AP. 2 lR S4 / / ~ ~ ~ q ,,~ CB=S14'22':23"W / /m ~ n '-~O":>. C=816.14 / / ~ .--.10. / ~ 1P"'J"":,\-:-"'-' / / L ~ .,'l- ~RS8~ / / _ -STH'PE,Q>11_ Y' . ~ . SOUTH UHE OF 1RACr SJ 0.02' HORTH OF UHE LOT 12 N88'OS' 48"W PARCEL A S88'OS'48"( 2641.29'- (BASIS OF BEAMlGsI lRACT 54 I GREENMAN DaP1ION PARCEL. B I BOOK 505 PN1E. _ I FOUNO 2-Ji~G~ ON ~. IRON PIPE AP. 1 lR S4 2001 PRCPER1ES LLC. BOOK 322 PN1E. 2M = 6 THIS EXHIBIT MAP IS INTENDED ONLY AS AN AID TO FOl.LOW THE ATTACHED LEGAL EXHIBIT MAP DESCRIPl10N AND DOES NOT REPRESENT SCALE 1" 400' A LAND SURVEY Pl.A T ACCORDING TO : = COLORADO STATUTES. DEED IN BOOK 703, DA TE: 07-06-06 PAGE 41 TO MAP ROTAl1ON IS 00"53'41". DWG: SRD.DWG ~ NO. DATE REVISION EAGLE COUNTY ,. EAGLE COUTNY ENGINEERING DEPARTMENT "~ PROPER TY P.O. BOX850,500BROADWAY ;;... EAGLE, CO 81631 ::::;Y=.:- PAGE 1 OF 3 970328-3560 FAX 970 328-8789 -..::::::.- PAGE: 3 OF 3 ISSUED: 06--22-06 DRAWN: KLM CHECKED: KLM 2 EXHIBIT "B" July 7,2006 A description of a Tract of Land located in Tract 53 of Section 2, T5S, R85W of the 6th P.M., in Eagle County, Colorado. For: Eagle County. LEGAL DESCRIPTION A tract ofland, located in a part of Tract 53 in Section 2, T5S, R85W of the 6th P.M., County of Eagle, State of Colorado, according to the Independent Resurvey of T5S, R85W, as approved by the U.S. Surveyor General in Denver, Colorado, on June 20, 1922, described as follows: COMMENCING at an existing brass cap marked as Comer No.3 of said Tract 53 in said Section 2, from which an existing brass cap marked as Comer No.1 of Tract 54 bears S88008'48"E, 2641.29 feet (Basis of Bearing); thence S88008'48"E, 658.73 feet to the Southerly Right-of-Way Line for Cooley Mesa Road easement as recorded August 15, 1996, in Book 703 at Page 41 of the records of Eagle County, Colorado, and the TRUE POINT OF BEGINNING; Thence N48056'03"E, 427.13 feet along Southerly Right-of-Way Line for Cooley Mesa Road easement as recorded in said Book 703 at Page 41 to a point of curve to the right; Thence Northeasterly, 843.59 feet along the arc of said curve Southerly Right-of-Way Line for Cooley Mesa Road easement as recorded in said Book 703 at Page 41, said arc having a radius of 950.00 feet, a central angle of 50052'40", and being subtended by a chord that bears N74022'23"E, 816.14 feet; Thence S80011'17"E, 998.27 feet along Southerly Right-of-Way Line for Cooley Mesa Road easement as recorded in said Book 703 at Page 41 to the Westerly Line of AIRPORT GA TEW A Y CENTER, a subdivision located in the County of Eagle according to the recorded plat in Book 703 at Page 41 as Rec. No. 599022; Thence S07011'53"E, 360.79 feet along the Westerly Line of said AIRPORT GATEWAY CENTER, as recorded plat in said Book 703 at Page 41 as Rec. No. 599022 to and angle point; Thence S82048'31"W, 263.95 feet along the Westerly Line of said AIRPORT GATEWAY CENTER, as recorded plat in said Book 703 at Page 41 as Rec. No. 599022 to the most Southwesterly Comer thereof and to the Southerly Line of said Tract 53; 3 Thence N88008'48"W, 1875.99 feet along the Southerly Line of said Tract 53 and the TRUE POINT OF BEGINNING. Area 20.354 acres, more or less. SEE PAGE 1 OF 3 FOR EXHIBIT MAP ,/ NOTICE: According to Colorado law you must Kelly L. MiI~iU / < d;: <", commence any legal action based upon any defect in Colorado ~rQf. ~~ Sera ': this survey within three years after you first discovered such defect. In no event, may any action Surveyor 1"!<b3,79 ; ffff based upon any defect in this survey be eommenced 500 BroadW~'t;.agle, CO ~j~f0850 more than ten years from the date of the certification ~ J',;: , < . < .' ~"S :$ shown hereon. Date: ttff:~l' f~~.\~1) h if!JJHHHIl\\\\~\ Projeet: AIRPORT BOUNDARY ECPROPDOC BOUNDARIES ~..,....,.~.~. UNLIMITED INC. -.... . ., ,- Civil Be Consulting Engineers Cooley Mesa Road Reconstruction & Widening Preliminary Cost Estimates (Airport Gateway Center Boundary to Navajo Road) June 12, 2006 Prepared By: B. Lewis, Boundaries Unlimited Inc. QTV Unit Unit Cost COST % Saw Cut Asphalt Pvement 3,310 LF $5 $16,550 0.8% 6" Asphaltic Pavement 3,711 Tons $70 $259,778 11.9% 3" Asphaltic Overlay 1,622 Tons $70 $113,530 5.2% 12" Class 6 Road Base (pvmt SubBase) 3.711 CY $40 $148,444 6.8% Class 6 Road Base (Shoulder) 428 CY $40 $17,138 0.8% 3" Asphalt BikePath 247 Tons $75 $18,533 0.9% 12" BikePath CI 6 Road Base 556 CY $42 $23,352 1.1% 24" Culvert ADS N12 30 LF $80 $2,400 01% 30" Culvert ADS N12 14 LF $110 $1,540 0.1% 24" Culvert Flared End Sec 1 EA $350 $350 0.0% 30" Culvert Flared End Sect 1 EA $450 $450 0.0% 8 FT CMP Culvert Ex!. (Bridge) 100 LF $800 $80,000 3.7% Concrete Culvert Entrance 1 LS $30,000 $30.000 1.4% Cut Embankment 32,696 CY $7 $228,872 10.5% Fill Embankment 14,299 CY $14 $200.186 92% Unsuit Mafl Removal & Replace per Gootee 400 CY $80 $32,000 1.5% Googrid Fabric Placement per Geoteeh 2,000 SY $5 $10,000 0.5% Clearing, Grubing & Disposal 271,789 SF $0.08 $21,743 10% TopSoil Removal 262,000 SF $0.20 $52,400 2.4% Scarify & Recompact Subgrade 161,870 SF $0.16 $25,899 1.2% TopSoil Placement 3,000 CY $14 $42,000 1.9% Guard Rail 1,500 LF $47 $70,500 3.2% Guard Rail Removal 1,340 LF $5 $6,700 0.3% Fence Removal 400 LF $3 $1,200 0.1% Adjust Sewer Manholes 11 EA $1,000 $11,000 0.5% Relocate Gas 3,400 LF $45 $153,000 7.0% Install Fiber Optic Vaults & Splice 3EA $8,000 $24,000 1.1% Signs 12 EA $400 $4,800 02% Pavement Striping 1 LS $14, 000 $14,000 0.6% Silt Fencing 4,000 LF $4 $16,000 0.7% Straw 3-Bail Check Dams 30 EA $200 $6,000 0.3% Seeding/Hydro Mulch 3.8 AC $2,800 $10,640 0.5% Traffic Control 1 LS $70,000 $70,000 3.2% Mobilization 1 LS $50,000 $40.000 1.8% Bond 1 LS $20,000 $20,000 0.9% Design Survey 1 LS $8,200 $8,000 0.4% Engineering Design 1 LS $40,000 $40,000 18% Soils Testing 1 LS $14,000 $12,000 06% Field Quality Control 1 LS $40,000 $40,000 1.8% Survey construction 1 LS $34.000 $34,000 1.6% SUBTOTAL $1,890,455 870% Contingency (15 %) $283,568 13.0% TOTAL $2,174,024 100.0% Annual Inflation Adjustment Factor (6.5 %) $130,441 Fees for traffic studies or any govemmental review/approvals are not included in this Cost Estimate. Boundaries Unlimited, Inc waives all liability associated with this cost estlamate. Even though unit costs are based past projects, Actual cost may vary significantly from this estimate due Contractor availability, material & fuel cost fluctuations. prOject size and location, and bidding competition. 823 Blake Avenue. Suite 102 : Glenwood Springs. Colorado 81601 . Ph: 970.945.5252 Fax: 970.384.2833 (EAGLE COUNTY) TRACT 53 CORNER 3 E 7H:<46'. S 89'02'25" E 1375.99' AP 2 TRACI BRASS CAP ~ (2001 PROPERTIES LLC) O' 01' . If) o . 00 , CO glD (/) I N89'32'04"W I I 371.22' I I ----~--~ L---- -- " \ (2001 PROPERTIES. LLC) \ ~ I \ L ---- - -I I SCALE: 1"=300' I I I I I I I I I I A PARCEL OF lAND BEING A PART OF TRACT 54, TOWNSHIP 5 SOUTH, RANGE 85 WEST OF THE SIXTH PRINCIP Al MERIDIAN, IN THE COUNTY OF EAGLE, STATE OF COLORADO, BEING MORE P ARTICUlARL Y DESCRIBED AS FOllOWS: BEGINNING AT ANGLE POINT NO.2 OF TRACT 54, TOWNSHIP 5 SOUTH, RANGE 85 WEST OF THE SIXTH PRINCIPAL MERIDIAN BEING MARKED WITH AN IRON POST AND BRASS CAP PROPERLY SET & FOUND IN PLACE, THENCE S89'02'25"E ALONG NORTHERLY TRACT LINE A DISTANCE OF 714.26 FEET TO THE POINT OF BEGINNING: THENCE CONTINUING ALONG SAID NORTHERLY TRACT LINE S89'02'25"E A DISTANCE OF 1375.99 FEET; THENCE DEPARTING SAID NORTHERLY TRACT LINE SOO'OO'OO"E A DISTANCE OF 680.57 FEET; THENCE S79'47'28"W A DISTANCE OF 340.38 FEET; THENCE N89'32'04"W A DISTANCE OF 371.22 FEET; THENCE N70'40'44"W A DISTANCE OF 610.83 FEET; THENCE N41'07'40"W A DISTANCE OF 194.35 FEET; THENCE S50'OS'1S"W A DISTANCE OF 478.32 FEET; THENCE N03"00'36"W A DISTANCE OF 197.60 FEET; THENCE N22'01'43"E A DISTANCE OF 141.34 FEET; THENCE N47"57'24"E A DISTANCE OF 102.44 FEET; THENCE N42'02'36"W A DISTANCE OF SO.OO FEET; THENCE N47"S7'24"E A DISTANCE OF 425.94 FEET TO THE POINT OF BEGINNING, SAID PARCEL CONTAINING 24.867 ACRES MORE OR LESS. BOUNDARIES UNLIMITED, INC. 2001 Properties, Saddle Ridge Development 923 COOPER AVENUE, STE. 102 DA TE: 1/31/06 Commercial Area Exhibit GLENWooD SPRINGS, CO 81601 970 945 5252 /SR-COMM \ \ \ \ \ \ \ (EAGLE COUNTYl \ I SCALE: 1"=400' I CENTERLINE OF A 100 FOOT WIDE \ RIGHT OF WAY EASEMENT FOR A \ (AIRPORT GAll'WAY CENTERl PUBLIC ROAO AS DESCRIBED IN BOOK 703 AT PAGE 41 - T - - \ I __~ \ I (FAGlE COUNTYl - -- - ~ - - \ I // __~ - -----------_ \ I ~/ ./ ~.OO' - - ~ - --=====r-- -- ./ L=843.58' 998.23' -- 0=50'52'39" -- T=451.88 - - I W CH DIR=S73"28' 42"W (FA'" E COlJNTYl \ ~/. a,YO;;/ CH=816.14 \ ~ ~ \ ~~ ~ \ ! CORNER 3 ~ \..... >~9:Q?:?? E.. 959.M ~_ N89"02'25"W 187540' \ __ . I AP 2 TRACT 54/.- - - --' BRASS CAP /. /. / (2001 PROPfRllEs.. LLC) /. /. /. A PARCEL OF LAND BEING A PART OF TRACT 53, TOWNSHIP 5 SOUTH, RANGE 85 WEST OF THE SIXTH PRINCIPAL MERIDIAN, IN THE COUNTY OF EAGLE, STATE OF COLORADO, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT ANGLE POINT NO.3 OF TRACT 53, TOWNSHIP 5 SOUTH, RANGE 85 WEST OF THE SIXTH PRINCIPAL MERIDIAN BEING MARKED WITH AN IRON POST AND BRASS CAP PROPERLY SET & FOUND IN PLACE, THENCE S89"02'25"E ALONG SOUTHERLY TRACT LINE A DISTANCE OF 659.34 FEET TO THE POINT OF BEGINNING, SAID POINT BEING THE APPROXIMATE INTERSECTION OF SOUTHERLY TRACT LINE AND THE SOUTHERLY RIGHT OF WAY EASEMENT FOR A PUBLIC ROAD AS DESCRIBED IN BOOK 703 AT PAGE 41: THENCE CONTINUING ALONG SAID SOUTHERLY RIGHT OF WAY EASEMENT FOR A PUBLIC ROAD THE FOLLOWING THREE (3) COURSES: N48"02'22"E A DISTANCE OF 426.46 FEET; THENCE 843.58 FEET ALONG THE ARC OF A CURVE TO THE RIGHT HAVING A RADIUS OF 950.00 FEET, A CENTRAL ANGLE OF 50"52'39" (CHORD BEARS S7S28'42"W A DISTANCE OF 816.14 FEET; THENCE S81"04'58"E A DISTANCE OF 998.23 FEET TO A POINT ON THE WESTERLY BOUNDARY OF AIRPORT GA TEWA Y CENTER; THENCE DEPARTING SAID SOUTHERLY RIGHT OF WAY EASEMENT FOR A PUBLIC ROAD ALONG SAID WESTERLY BOUNDARY OF AIRPORT GA TEWA Y CENTER S08"05'41"E A DISTANCE OF 360.33 FEET; THENCE S81"54'19"W A DISTANCE OF 263.95 FEET TO A POINT ON SAID SOUTHERLY TRACT LINE; THENCE N89"02'25"W ALONG SAID SOUTHERLY TRACT LINE A DISTANCE OF 1875.40 FEET TO THE POINT OF BEGINNING, SAID PARCEL CONTAINING 20.331 ACRES MORE OR LESS. BOUNDARIES UNLlMITED,INC. 923 COOPER AVENUE, STE. 102 . . GLENWooD SPRINGS, CO 81601 DA TE: 1/31/06 Eagle County Land ExhibIt 9709455252 /SR-COMM