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HomeMy WebLinkAboutC11-014 West End Development SIA c � _■. SUBDIVISION AND OFF -SITE IMPROVEMENTS AGREEMENT m N ammomma co FOR ti CU ,r4 WEST END DEVELOPMENT File No. PDF 00101 1 M jeactaG !r o: ii 1 l THIS SUBDIVISION AND OFF -SITE IMP OVEME S AGREEMENT m ( "Agreement ") made and entered into as of the day of ,..2069; 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 BCP- Midtown Investments II, cS ca LLC, a Delaware limited liability company (hereinafter "Subdivider "). Z 0 m 0 .» U N m T WITNESSETH w � �� J Y •• f7¢ IUU■■■■■ wt-a� WHEREAS, the Subdivider, as a condition of approval of the Final Plat of the West End PUD (hereinafter referred to as "Subdivision "), 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 5- 280.B.5.e. and C.R.S. §30 -28 -137; and WHEREAS, pursuant to the same authority, the Subdivider 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 ( "Subdivision Improvements "); and WHEREAS, pursuant to Chapter I1, Section 4 -620 of the Land Use Regulations, when a proposed subdivision is located in an area serviced by an existing County road and the County determines that the traffic generated by such development will result in safety hazards for vehicle drivers, pedestrians and/or adjacent residents, or will result in substantially increased maintenance costs to the County, the County is empowered to determine the amount of work necessary to bring the affected County road to acceptable standards to provide adequate safe service to present owners, to the proposed subdivision and to other probable subdivisions, and to require the Subdivider to improve its equitable portion of such road to an acceptably safe condition; and WHEREAS, the County has determined that the traffic which will be generated by the Subdivision, along with other potential subdivisions in the area, will result in safety hazards and substantially increased maintenance costs relative to the off -site roads; and WHEREAS, the Subdivider has agreed to improve the roads to an acceptably safe condition and to accommodate the incremental increase in traffic burden to the said roads resulting from the development of this Subdivision, by the engineering, construction and completion of physical improvements to the said road as set forth in this Agreement; and WHEREAS, as a further condition of approval of the final plat of this Subdivision, the Subdivider is obligated to provide security and collateral sufficient in the judgment of the County to make reasonable provision for completion of the Subdivision Improvements, including but not limited to off -site road improvements, referred to herein; and WHEREAS, pursuant to Chapter II, Section 4 -620.9 of the Land Use Regulations and C.R.S. 43 -2 -147, the Subdivider shall provide access for all lots and parcels it creates to the state highway system in conformance with the State Highway Access Code. 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. SUBDIVISION IMPROVEMENTS 1.1 Subdivision Improvements. Subdivision Improvements are deemed to include all public improvements, including but not limited to off -site improvements as set forth in all documents, construction drawings, designs, maps, specifications, sketches, cost estimates, and other materials submitted by the Subdivider prior to or at final plat approval and acceptance by the County. Such Subdivision Improvements shall include roads, utilities and other similar public improvements as specified by the County Engineer. 1.2 Scope of Work. The Subdivider hereby agrees, at its sole cost and expense, to furnish all necessary equipment and material, and to complete all Subdivision 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 Subdivider prior to or at final plat approval and accepted by the County, and in accordance with all applicable laws of the United States of America, State of Colorado, County of Eagle, and their respective agencies and affected governmental entities. Except as otherwise provided in the PUD approval such performance shall include acquisition all necessary of rights -of -way and easement if any are necessary. 1.3 Duties of Subdivider. For those Subdivision Improvements required herein, including but not limited to the reconstruction and physical improvement of that portion of any road subject to this Agreement, the Subdivider shall retain an engineer whose duties shall include construction staking, observation of construction for conformance to the approved plans and specifications, and materials sampling, testing and inspection using the Colorado Department of Highways 2001 Field Materials Manual as a guide for frequency of sampling and testing. 1.3.1 Notification/Road Construction. Subdivider or his Engineer shall notify the Eagle County Engineer for the purpose of arranging an on -site inspection no less than forty -eight (48) hours in advance of the following stages of road construction: 1) Finished subgrade 2) Finished Aggregate Base Course 2 3) Asphalt Placement. 4) Concrete - Curb and Gutter, Sidewalks and Bikepaths The County Engineer shall make an on -site visit within the forty -eight (48) hours notification period or as shortly thereafter as reasonably possible for the purpose of observing proof rolls on items 1) and 2) above and for general observation of construction methods being employed at these stages. Said on -site inspection by the Eagle County Engineer shall in no way abrogate the duties of the Subdivider outlined elsewhere in this Agreement. The Subdivider shall provide the proof rolling by arranging for a loaded single unit truck carrying 18,000 pounds per rear axle. 1.3.2 Witnessing of Water and Sewer Laterals. It is essential that the ends of these laterals be witnessed by the Subdivider's engineer to a minimum of three divergent points and a permanent record made of the same. Copies of these records are required to be furnished to the Eagle County Engineer prior to commencement of the two year warranty period. In addition to witnessing of the horizontal location of these laterals, a vertical witness shall be required. Horizontal witnessing shall be to property corners, fire hydrants, manholes, and other "permanent" features. Vertical witnessing shall be based on depth below ground and elevation based on a datum used for the subdivision. Bench marks shall be shown on witness records. 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 Subdivider or its engineer. 1.3.4 As -Built Drawin . s of Subdivision Im . rovements. As -Built drawings, sealed, signed and dated by a Registered Professional Engineer showing the as- constructed horizontal and vertical locations of Subdivision Improvements shall be submitted to the Eagle County Engineer prior to commencement of the two year warranty period. This shall include as- built drawings in an electronic format acceptable to the County Engineer. 1.3.5 Affidavit of Monumentation. An Affidavit of Monumentation sealed, signed and dated by a Registered Professional Land Surveyor stating that the subdivision has been monumented in accordance with §38 -51 -105, C.R.S., shall be provided to the Eagle County Engineer prior to the acceptance of the Subdivision Improvements by the County. 1.4 Compliance with Colorado Department of Highways Access Code. Subdivider shall provide the County with designs in compliance with the Colorado Department of Highways Access Code for all road improvements. 1.5 Date of Completion. All Subdivision Improvements shall be completed prior to March 14, 2014. 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 3 work for which inspection is requested must be submitted prior to said inspection. All such information shall be accompanied by a letter from the Subdivider'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 an on -site 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 as reflected in the Exhibit A and collateral release. 1.7 Estimated Costs of Subdivision Improvements. The estimated cost of the Subdivision Improvements is the sum of $ 2,969,974.39, 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 off -site improvements, the Subdivider hereby agrees to provide security and collateral in the form and as set forth in Section 2, below. 1.8 Landscape Guarantee. Subdivider agrees to submit a landscaping plan, prior to approval of final plat, for the subdivision which will comply with Section 4 -240, Installation and Maintenance Requirements. The Subdivider agrees to substantially abide by the Landscape Plan q g Y Y P approved by the County Department of Community Development. 2. SECURITY and COLLATERAL 2.1 Collateral. Security and Collateral required in Section 1.7 herein, as security for the performance by Subdivider of its obligations under this Agreement, shall be in the total amount of $ 2,969,974.39. Prior to issuance of any grading or building permits for or commencement of construction of any of the Subdivision Improvements, the Subdivider will provide the County, in form and substance acceptable to the County Attorney, collateral in the form of an irrevocable LETTER OF CREDIT. 2.2 Partial Release of Collateral. Subdivider may apply to the County for the release of portions of the Collateral based upon work completed in accordance with this Agreement. To make such releases, Subdivider 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 of Collateral/Warranty. Within thirty (30) days after Subdivider 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. Subdivider shall be responsible for the condition of the Subdivision Improvements for a period of two (2) years after completion; 4 this shall be guaranteed either through the retention of Collateral, as set forth above, or Subdivider may provide a substitute form of Collateral as set forth in Section 2.4 hereunder. 2.4 Substitution of Collateral. The Subdivider may, at any time, substitute the Collateral originally deposited with the County herein, for another form of collateral acceptable to the County Attorney, which acceptance will not be unreasonably withheld, conditioned or delayed, to guarantee the faithful completion of the Subdivision Improvements 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 Subdivision Improvements as described herein, and collateral shall be submitted by the Subdivider 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 Subdivider 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 Subdivider, 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. 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 Subdivider 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 Subdivider'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 (10)days prior to its expiration. If Collateral is neither extended nor substitute collateral provided, in a form acceptable to the County, at least ten (10)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 may be 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. 5 2.7 Costs and Expenses. Subdivider agrees to pay any reasonable costs and expenses, including but not limited to_reasonable third -party 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. 2.8 Landscape Plan Collateral. 2.8.1 Subdivider agrees to provide collateral in a form acceptable to the County Attorney to ensure landscaping will be installed. Subdivider agrees to provide collateral for no less than one hundred and twenty -five percent (125 %) of the estimated cost of the landscaping improvements listed in the Landscape Plan. 2.8.2 As portions of the landscape improvements are completed, the Community Development Director shall inspect them, and upon approval and acceptance, shall authorize the release of the agreed estimated cost for that portion of the improvements, except that the ten percent (10 %) shall be withheld until all proposed improvements are completed and approved, and an additional twenty -five percent (25 %) be retained until the improvements have been maintained in a satisfactory condition for two (2) years. 3. INSURANCE and INDEMNIFICATION 3.1 Indemnification. Subdivider shall indemnify and hold the County harmless from any and all claims made against the County by any contractor, subcontractor, material men, employee, independent contractor, agent or representative involved in the work necessary to comply with this Agreement, or on account of any other claims against the County because of the activities of Subdivider conducted in furtherance of the terms of this Agreement. This indemnification and hold harmless provision shall include any reasonable and customary legal expenses or costs incurred by the County. Notwithstanding the above, Subdivider shall not be liable to indemnify the County for claims caused by the acts or omissions of the County. 3.2 Certificates of Insurance. The Subdivider 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 Subdivider, if it serves as the contractor for the Subdivision 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. 3.3 County Incurs No Liability. Unless caused by the acts or omissions of the County, 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 Subdivision and/or Subdivision 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 Subdivision Improvements, but all of said liabilities shall be and are hereby assumed by the Subdivider. The Subdivider hereby 6 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 Subdivider hereunder; and the Subdivider shall reimburse the County for any and all reasonable and customary 70 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 Subdivider may have. Notwithstanding the above, Subdivider shall not be liable to indemnify the County for claims caused by the acts or omissions of the County. Nothing in this agreement shall constitute a waiver by the County of its governmental immunity defenses under State or Federal common law or statue. 4. GENERAL PROVISIONS The following shall apply to all Subdivision Improvements, including off -site improvements, set forth in this Agreement: 4.1 Compliance with Land Use Regulations. The Subdivider shall be required to obtain all necessary permits and comply with the applicable 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 Subdivision Improvements referred to herein. 4.2 Subdivision Improvement Agreement Controls. In the event of any inconsistency or incongruity between the provisions of this 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 Subdivision Improvements during which time the Subdivider shall promptly correct or remove and replace, in accordance with the County's written instructions, defective work or materials and consequences thereof - 4.4 Approval of Final Plat. The County agrees to the approval of the final plat of this Subdivision, subject to the terms and conditions of this Agreement. 4.5 Final Plat Amendments. Where field changes or other circumstances have caused the road, utilities, or other subdivision improvements to be constructed in locations different from those shown on the approved plans, the locations of rights -of -way, easements, lot lines, building envelopes, setback lines, or other attributes shown on the Final Plat shall be amended as necessary to comply with Final Plat requirements of the Eagle County Land Use Regulations. 4.6 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. 7 4.7 Assignability. This Agreement shall be enforceable against the Subdivider, provided, however, that in the event the Subdivider sells, transfers or assigns all or part of the subject Subdivision, the obligations of the Subdivider under this Agreement as to that portion of the subject Subdivision may be assumed in writing by the purchaser of the parcel, and the Subdivider shall have no further obligations hereunder. It is agreed, however, that no such assumption of these obligations shall be effective unless the County Attorney gives its prior written approval to such assumption following an investigation of the financial condition of the purchaser which consent shall not be unreasonably withheld, conditioned or delayed. Subdivider shall not otherwise assign, transfer, convey, pledge or otherwise dispose of this Agreement without prior written consent of the County Attorney, which consent shall not be unreasonably withheld, conditioned or delayed. 4.8 Binding upon Successors. This Agreement shall inure to the benefit of and be binding upon the parties hereto, their respective successors, and assigns. 4.9 Sole Responsibility of Subdivider Prior to County Acceptance. It is further agreed and understood that at all times prior to the completion and acceptance of the off -site Subdivision 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 Subdivider. When it is necessary to allow the general public to utilize the roadways under construction by the Subdivider, traffic control and warning devices shall be placed upon such roadways by the Subdivider 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. 4.10 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. 4.11 Notice. Notice required pursuant to the terms of this Agreement shall be deemed given on the day that the same is placed in the United States Mail, postage prepaid, certified or registered mail, return receipt requested. 4.12 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 may be 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 e uitable or legal g Y Y g Y Y q g 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. 8 • 5. GENERAL PROVISIONS 5.1 TCO is contingent on all offsite improvements as approved by the County Engineer (CE). a. U.S. Highway 6 traffic improvements as approved by Colorado Department of Transportation (CDOT) and CE b. New bus stop as approved by Eagle County Regional Transportation Authority (ECO transit) and CE c. Upgrade of eastbound bus stop ($25,000) as approved by ECO transit and CE d. U.S. Highway 6 Roundabout geometry design and Construction as approved by CDOT and CE e. Gashouse pedestrian way as approved by CDOT and CE f. $250,000 Eagle River Preserve improvements (landscaping) as approved by the Community Development Director and CE h. After the 2 -year warranty period, CE has the sole discretion to require the removal /allowance of two parking stalls located directly northwest of the internal traffic circle based on actual traffic flow /conflict impacts. IN WITNESS WHEREOF, the parties hereto have executed this Agreement nunc pro tunc to the day and year first above written. COUNTY OF EAGLE, STATE OF COLORADO, By and Through Its ATTEST: � E c 1 OARD OF COUNTY COMMISSIONERS • diL _ e. • •••• . y Sefanzi_.() 0 Teak J. Simonti� Clerk to the i • ;l o • ORAL County Commissioners Chairman Address for giving notice: P.O. Box 850 9 Eagle, CO 81631 Phone: (970) 328 -8685 SUBDIVIDER: BCP- MIDTOWN INVESTMENTS II, LLC, a Delaware limited liability company By: Name: V 1 (V , Ilia, r/ Title: 0_a(i.ti.a_ ),e, Address for giving notice: 2601 Blake Street Denver CO 80205 Phone: (303) 926 -4949 Fax: (303) 926 -4948 STATE OF COLORADO ) ) ss: County of ) The foregoing was acknowledged before me this day of L iplAiim 2011, by j1 A4/6 Ea.f V as Manager of BCP - Midtown Investments II, LLC; a Delaware limited liability company. WITNESS my hand and official seal. My commission expires /1 - a 1 &O /(/ (.3 No y Public SAW STOTT' ATE OF4:SLOW° My Comm. Expk.s 11/21/2014 10 . The West End t COLLATERAL RELEASE SUMMARY The West End File Number First Release ORIGINAL COMPLETED FIRST RELEASE AMOUNT • DESCRIPTION QUANTITY UNIT COLLATERAL % AMOUNT REMAINING On Site Improvements Site Work • Site Grading Excavation 35473 CY 60,304.10 0.00 60,304.10 Site Grading Import 1671 CY 6,684.00 0.00 6,684.00 Site Walls 1965 SF 68,775.00 0.00 68,775.00 Erosion Control 1 LS 20,676.00 0.00 20,676.0C Revegetation 1518 SY 910.80 0.00 910.80 Total Site Work 157,349.90 0.00 157,349.90 Roads 6"Concrete 2250 SY 64,12500 0.00 64,125.00 • 4" Concrete (Over Podium) 1120 SY 21,28000 0.00 21280.00 • 4" Aggregate Base Course -COOT Class 6 Roadbase 2250 SY 8,100.00 0.00 8,10000 Curb and Gutter 4" Vertical (W =1.5') 3400 LF 30,600.00 0.00 30,600.00 Total Roads 124105.00 0.00 124,105.00 Parking 5" Concrete 2380 SY 56,644,00 0.00 56,644.00 4 " Concrete (Over Podium) 290 SY 5,510.00 0.00 5,510.00 4" Aggregate Base Course -CDOT Class 6 Roadbase 2380 SY 8,568.00 0,00 8,568 • Pavement Marking (paint) 2100 LE 2,100.00 ' 0.00 2,100.00 Total Driveways 72,822.00 0.00 72,822.00 Walks 4" Concrete Walk 43,918 SF 109,795.00 0.00 109,795.00 Handicap Ramps 15' Radius 2 EA 2,000.00 0.00 2,000.00 Handicap Ramps 25' Radius 4 EA 6,200.00 0.00 6,200.00 Midblock Ramps 7 EA 4,900.00 0.00 4,900.00 ECO Trail (10' Wde, 4" thick Concrete) 5382 SF 13,455.00 0.00 13,455.00 ECO Trail Subgrade (6" Aggregate Base Course -CDOT Cie: 598 SY 2,152.80 0.00 2,152.80 Pavers 9289 SF 27,867.00 0.00 27,867.00 Total Driveways 166,369.80 0.00 166,36080 • Storm Drain Systems 18" RCP 752 LF 27,072.00 0.00 27,072.00 24" RCP 593 LF 29,650.00 0.00 29,650.00 Type 13 Grated Inlet 3 EA 7,500.00 0.00 7,500.00 Type 13 Combo Inlet 1 EA 3,500.00 0.00 3,500.00 4' Diameter Manhole 3 EA 5,700.00 0.00 5,700.00 5' Diameter Manhole 8 EA 20,000.00 0.00 20,000.00 Stomlceptor 4501 2 EA 16,000.00 0.00 16,000.00 Detention Vault 1 - EA 205,000.00 0.00 205,000.00 Total Storm Drain Systems 314,422,00 0.00 314,422.00 Sanitary Sewer System 6" Sewer Service 175 LF 5,250.00 0.00 5,250.00 • 8" Sewer Service 13 LF 468.00 0.00 468.00 Cleanouts 3 EA 1,350.00 0.00 1,350.00 Total Sanitary Sewer System 7068 00 0. 00 7,068.00 • Domestic Water 8" C -900 CL 200 Main 1374 LF 38,472.00 0.00 38,472.00 8" Main line Gate Valve & Boxes 8 EA 9,200.00 0.00 9,200.00 • 8" 11.25 Degree Bend 2 EA 64000 0.00 640.00 8" 22.5 Degree Bend 3 EA 960.00 0.00 960.00 • 8" 45 Degree Bend 4 EA 1,28000 0.00 1,280.00 • 8" 90 Degree Bend , 2 EA 640,00 0.00 640.00 8" Tee 3 , EA 1,050,00 0.00 1,050.00 Service Lines wNalves 3 EA 10,500.00 0.00 10,500.00 Fire Hydrants Assemblies 4 EA 16,000.00 0.00 16,000.00 8" Plug 2 EA 320.00 0.00 320.00 i Total Domestic Water 79,062.00 0.00 79,062.00 Shallow Utilities • Eledric 1 LS 250,000.00 0.00 250,000.00 Telephone 1 LS 36,000.00 0.00 36,000.00 Cable TV 1 LS 0.00 0.00 0.00 Gas 1 LS 50,000.00 0.00 50,000.00 • Total Shallow Utilities 336,000.00 0.00 336,000,0C Subtotal On•Site Construction 1,257,198.70 0.00 1,257,198.7C General Items (On -Site) • Mobilization , 1 LS 50,000.00 0.00 50,000.00 Construction Engineering Admin 1 LS 20,000.00 0,00 20,000.00 Construction Surveying 1 LS 10,000.00 0.00 10,000.00 As -Built Drawing Prep 1 LS 10,000.00 0.00 10,000.00 Materials Testing & Inspection 1 LS 15,000.00 0.00 15,000.00 Total General On -Site Items 105,000.00 • 0.00 105,000.00 Total OnSheImprovements 1,362,198.70 _ 0.00 1,362,198.70 The West End EXHIBIT . Page 1 of 3 I 4 ) 7 7 ____A The West End 2 COMPLETED FIRST RELEASE ORIGINAL - AMOUNT DESCRIPTION QUANTITY UNIT COLLATERAL % AMOUNT REMAINING Off -Site Improvements Site Work Site Grading Excavation 110 CY 187.00 0.00 187.00 Site Grading Import 24600 CY 98,400.00 0.00 98,40000 Erosion Control 1 LS 28.86100 0.00 28,863.00 Revegetation 5682 SY 3,409.20 0.00 3,409.20 Total Site Work 130,859.20 0,00 130,859.20 Vogelman Sanitary Sewer System 8" SDR -26 PVC 223 LF 8,028.00 0.00 8,028.00 48" I.D. Manhole 1 EA 2,500.00 0,00 2,500.00 Total Vogelman Sanitary Sewer System 10,528.00 0,00 10,528.00 Vogelman Domestic Water 8" C -900 CL 200 Main 52 LF 1,560.00 0.00 1,560.00 8" Main line Gate Valve & Boxes 1 EA 1,150.00 0.00 1,150.00 8" Plug 1 EA 160.00 0.00 160.00 Total Vogelman Domestic Water 2,870.00 0.00 2,870.00 Gashouse Site (concrete) ECO Trail (10' Wide, 4" thick Concrete) 1584 SF 3,960.00 0.00 3,960,00 ECO Trail Subgrade (6" Aggregate Base Course -COOT Cla: 176 SY 633.60 0.00 633.60 Asphalt Drive (assumed 9" depth) 207 SY 4,864.50 0.00 4,864.50 4" Aggregate Base Course -COOT Class 6 Roadbase 207 SY 745.20 0.00 745.20 Site Walls 250 SF 8,750.00 0.00 8,750.00 ' Site Grading Import 79 CY 316.00 0.00 316.00 Total Gashouse Slte 19,269.30 0.00 19,269.30 Roads Asphalt Removal 919 SY 10,109.00 0.00 10,109.00 Saw Cut 908 LF 2,860.20 0.00 2,860.20 Asphalt Paving (assumed 9" depth) 1565 SY 36,777,50 0.00 36,777.50 2" Asphalt Overlay 4535 SY 22,675.00 0.00 22,675,00 6° Curb and Gutter 394 LF 3,940.00 0.00 3,940.00 Concrete Bus Pad (assumed 6" depth concrete) 73 SY 2,080.50 0.00 2,080 New westbound bus shelter 1 EA 25,000.00 0.00 25,000.00 Crusher Fines Trail 313 SY 2,034.50 0.00 2,034.50 Handicap Ramps 25' Radius 1 EA 1,550.00 0.00 1,550.00 Midblock Ramps 2 EA 1,400.00 0.00 1,400.00 Pavement Markings Arrows 6 EA 900.00 0.00 900.00 Pavement Markings X -walks (thenmo) 240 SF 2,400.00 0.00 2,400.00 Pavement Markings Striping (epoxy) 3952 LF 27,664.00 0.00 27,664.00 Total Roads 139,390,70 0. 00 139,390.70 Storm Drainage Systems 24" RCP 257 LF 12,850.00 0.00 12,850.00 4' Diameter Manhole 1 EA 1,900.00 0.00 1,900.00 24" FES 2 EA 1,600.00 0.00 1,600.00 Riprap Type L 050 =9" 6 CY 360.00 0.00 360.00 Total Storm Drainage Systems 16,710.00 0.00 16,710.00 Sanitary Sewer System 8" SDR -26 PVC 290 LF 10,440.00 0.00 10,440.00 48" I.O. Manhole 1 EA 2,500.00 0.00 2,500.00 8" Sewer Main Removal 73 LF 584.00 0.00 584.00 48" I.D. Manhole Removal 1 EA 100.00 0.00 100.00 Build Manhole Base on Existing Main 1 EA 3,600.00 0.00 3,600.00 6" Sewer Service 8 LF 240.00 0.00 240.00 Total Sanitary Sewer System 17,464.00 0.00 17,464,00 Domestic Water 8" 0-900 CL 200 Main 398 LF 11,940.00 0.00 11,940.00 8" Main line Gate Valve & Boxes 2 EA 2,300.00 0.00 2,300.00 8 " 45 Degree Bend .,.. ...... 1 EA 320.00 0.00 320.00 8" 90 Degree Bend 1 EA 320.00 0.00 320.00 Total Domestic Water 14,880.00 0.00 14,880.00 Shallow Utilities Electric 1 LS 190,000.00 0.00 190,000.00 Total Shallow Utltit(es 190,000.00 0.00 190,000.00 Subtotal Off -Site Construction 541,971.20 0.00 541,971.20 ' General Items (Off -Site) Traffic Control i LS 50,000.00 0.00 50,000,00 Mobilization 1 LS 50,000.00 0.00 50,000.00 Construction Engineering Admin 1 LS 15,000.00 0.00 15,000.00 Construction Surveying 1 LS 3,000.00 0.00 3,000.00 As -Built Drawing Prep 1 LS 10,000.00 0.00 10,000.00 Materials Testing & Inspection 1 LS 6,000.00 0.00 6,000.00 Total General Off -Site items 134,000.00 0.00 134,000.00 Total Off -Site Improvements _ 675,971,20 0.00 675,971.20 The West End Page 2 of • The West End 3 ORIGINAL COMPLETED FIRST RELEAS: AMOUNT DESCRIPTION QUANTIT UNIT COLLATERA % AMOUNT REMAINING Landsca•in ks[a ma YF1'IriE[.T-.T.T.TieitEau rFTFi•f11iY'*SIR�7I•c� �iiy.�ii3[r ?1A[ tammumgommommuKommitml.0 ' IU _ t3ii9�i rar[��rxru � r� iklrnitx�u r . - - r I akYl l �g.� . 1 1h i� i1 �:[1b9I1i11 • i[ efi['( ltfa[ 7'.+ J,T 7iTT .Lnlf:Tilf:Rn,Tt7:7yt1Y:lRfi[kS t r 111 .0 ■i•71i1♦�3:�iibX(10- i 1.1 i[.1y1L :6 a. • ..m_ .ros sxacu 'ore os e •ee..rass iLY°'l*Emom LUIS 11 �xc *.y1LUl o.soi or • an 11 111aJINIIIIIII-IrUNIrLI GF1mtx 1' C • v' FP1 E9� 1 P1 t't MIIIIM ��S.I It rl .. .. iliit4"J♦ibX41 :1[Q9� 1n ib1111 ?1[1Id 1iFiRTT% iJf: T. itai' PF: 11ir4R? TS�Y[ qi�' Y#+ YF. 11i3: YJ .'1i�i:Yl.�i,;�i�'i•.i.".r[�nl� t (lI:1f9.aral H 1EM GGPIJE 'Di 163 ,1•11F,dMIN111111111.111111111il,11111Lgii 1.1 1ir:��:�ixHx1A13[tUl ib'JE'YM/ Mir :1il 66. iw •. • - it• ` ��iY.i1b.1I1:n � ai li[621UI1[Q11 girrnii!11FI6N*1.171 rte• I�INIMINIMINEe)♦ 1!1 iY.allrHlrq � 11 .1'1'1 i1 Other Misc. Signs - stop, HC pig, etc 1 LS S 15,0 15,000.00.01 - 19 0.00 15,000.11 Total Landscaping 582,390..1. 0. 00 582,3911.i Total Landscaping Collateral (125% of Landscaping Costs) 727,987. 1 0 o0 727,98751 • Consruction Contingency 10% (Added to On •site and Off -site) 203,8165 0% 0 o0 203,8165• Total Construction Costs 2,241,986.8 0.00 2,241,986.8 • • Total Landscaping Collateral 727,987.5. 0.00 727,987.5. • Total Improvements 2969,974.3 0.00 2,969,974.3• PUBLIC LANDSCAPING • IMPROVEMENTS IMPROVEMENTS TOTAL Retainage © 10% Retainage @ 35% IMPROVEMENTS COMPLETED $0.00 0.00 0.00 RETAINAGE 60.00 0.00 0.00 SUBTOTAL CUMMULATIVE RELEASES $0.00_ 0.00 0.00 FIRST RELEASE 60.00 0.00 SECOND RELEASE 60.00,. 0.00 ORIGINAL COLLATERAL 62,241,986.85 727,987.50 2,969,974.3• FIRST RELEASE $0.00 050 0.00 SECOND RELEASE 60.00 0.00 0.00 REMAINING COLLATERAL 62,241,986.8E 727,987.50 2,969,974.3' NOTES: 1. The opinion of probable costs for The West End Filing No. 1 was based on approximate quantity estimates for general earthwork, utility work, concrete structural work, revegetafion, and miscellaneous work based on the Final Construction Plans Prepared by Carroll and Lange, Inc dated January 2008 with the exception of the offsite Highway 6 improvements which are based on the most recent design. 2. This opinion of probable cost shown, and any resulting conclusions on project financial or economic feasibility or funding requirements, have been • prepared for guidance in project evaluation and implementation from the information available at the time the opinion was prepared. The final costs of • the rotect and resulting . . p ultra feasibility will de J g ry depend on actual labor and material costs, competitive market conditions, actual site conditions, final project scope, implementation schedule, continuity of personnel and engineering, and other variable factors. As a result, the project costs will vary from the opinion of the probable costs presented within. 3. On -site earthwork values are based on raw quantities to finish ground. No factors for shrink or swell to the fill values have been applied. 4. Site walls were assumed to be dry stack M.S.E. wall systems with geognd fabric and underdrain Systems. 5. Pavement thicknesses for onslte roadway areas are based on the Subsoil study for Foundation and Pavement Thickness prepared by HP Geotech dated May 31, 2007. 6. All paved parking areas were assumed to be 5" thick concrete. 7. A pavement depth of 4" has been assumed for the roadway paving over the podiums. This value is based on the "topping slab" thickness for the podium. 8. Assumes 9" full -depth asphalt for US highway 6 paving. 9. Storm sewer RCP costs are based on Type III RCP. 10. Pacing for the detention vault is based on an 108' x 24' x 13.2' vault with 12" walls top and bottom and includes access covers, ladders, forebay, and water quality/orifice plates. 11. The costs for the water system are for distribution lines only. The water supply system (i.e. tanks, wells, etc) shall be designed and OPINION by others. Water main depths are assumed to average 7' of depth (to tap of pipe). Plugs costs have been assumed where water mains terminate for the construction phase. Concrete kick blocks only (no restrained pipe) have been assumed to be utilized as restraint devices. This OPINION does not Include costs for cathodic protection. 12. Shallow utilities costs are general estimates. Actual costs will need to be calculated when shallow utility design is complete. Cable TV costs are to be covered by the provider, Comcast Cable. 13. This OPINION does not include costs for cut -off walls which may be recommended in the field by the on -site Geotechnical Engineer during construction. 14. This OPINION does not include any design, pen or development fees, including, but not limited to water tap fees, sanitary sewer fees, permit or review fees. 15. This OPINION does not include any costs associated with underdrains. 16. This OPINION does not include any costs associated with overexcavcation for Structures. 17. This OPINION does not include any roundabout improvements. 18. Landscaping costs are based on the cost estimate from Hart Howerton dated February 25, 2008 19. The following off-site improvements will be submitted on a separate SIA 1) US6 one -lane Roundabout 2) Offsite.Jnpt_oyq not to exceed 6150K (US6 at -grade crossing, Eastbound Bus Stop Relocation, and Homestead Bermilandscaping). • ms j ` 1. The West End • . <ti ^ ." !, " ^ ' • � ., "_ •: � c�(. ( `• sees. r \r^ Page3ot3 U V `" " i VA L �