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HomeMy WebLinkAboutC81-051 Middle Ebby Creek_SIA- � `•-, Bdo.k �Z318 - ,, _ Recorded at 12;.00 P. M February' " l-, 1981 F gc 312 214683 r )rder. Johnnette PhilliFee $10.00pd Phillips Ea SUBDIUIUOzN INPROVEiIENTS AGREEi.iENT THIS AGREESENT i:lade and entered into this � i day of 19 by and between T-H-Y Associates `M00, �� o I hereinafter i n fter called 1 ed the Subdivider, and the Board of County Commissioners of Eagle County, hereinafter called the County. W I TNESSETH : WHEREAS, the Subdivider as a condition of approval of the final plat of Middle Ebby Creek Subdivision, wishes to enter into a Subdivision Improvements Agreement as provided for by Section 30-28-137, Colorado Revised Statutes 1973, as amended; and WHEREAS, pursuant to the same authority, the Subdivider is obligated to provide security or collateral sufficient in the judgment of the Board of County Commissioners -to make reasonable provisions for completion of certain public improvements set forth in Exhibit A attached hereto and incorporated herein; and WHEREAS, the Subdivider wishes to provide collateral to guarantee performance of this agreement, including construction of the above -referenced public improvements by means of ( insert one of the following:) (e) promissory note and first deed of trust on Lot 4 of approximately 6.655 acres (a) Plat restriction stating that no lots within said Subdivision shall be sold and/or conveyed until all public improvements referred to herein are approved and accepted by the Board of County Commissioners. (b) irrevocable letter of credit (c) Completion performance bond (d) cash escrow (e) promissory note and first deed of trust NOW THEREFORE, in consideration of the following mutual covenants and agreements, the Subdivider and the County agree as follows: 1. The Subdivider hereby agrees, at its sole cost and expense, to furnish all equipment and material necessary to perform and complete, on or before June 30, 1982 ( date of completion) , in a good workmanlike manner, all public improvements as shown in the final plat documents for the Subdivision in accordance with all plans and specifications for the Subdivision filed in the office of the County Engineer and/or Department -of Coi�,riudity Development and to do all work incidental thereto according to and in compliance with the following: a. All final plat documents submitted prior to or at the time of final plat approval. b. All laws of the United States of America, State of Colorado, County of Eagle and its respective agencies, affected special districts and/or service district. c. Such other designs, drawings, maps, specifications, sketches, and other matter submiltted by the Subdivider to and approved by any of the above -referenced governmental entities. All said work shall be done under the inspection of, and to the satisfaction of the County Engineer and/or the County Building Official, respectively, and, shall not be deemed complete until approved and accepted as completed by the Board of County Commissioners of the County or said Board's appointed designee. 2. The estimated cost of said work and improvements is the sum of 5,000.00 (five thousand & no cents) To secure and guarantee performance of its obligations as set forth herein, the Subdivider agrees to provide security and collateral in the form of ( insert one of the fol 1 owi ng : ) (e) promissory note in the amount of $ 5,000.00 secured by a first deed of trust (a) a plat restriction appearing on the face of the plat which states that no lots within said Subdivision shall be sold and/or conveyed until all public improvements referred to herein are approved and accepted by the Board of County Commissioners. (b) an irrevocable letter of credit from Bank in the amount of $ on a form acceptable to the County Attorney. (c) a completion performance bond issued by as corporate surety in the amount of $ . (d) a cash escrow in the amount of $ to be held by as escrow agent. (e) a promissory note in the amount of $ secured by a first deed of trust. 3. The Subdivider 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 those public improvements referred to herein and the performance of the terms of this Agreement. 4. 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 works 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 by reason of the nature of said work, but all of said liabilities shall and are hereby assumed by the Subdivider. The Subdivider hereby agrees to indemnify and hold harmless the County, and any of its officers, agents, and employees against any losses, claims, damages, or liabilities to which the County or any such of its officers, agents, or employees may become subject to, insofar as any such losses, claims, damages or liabilities (or actions in respect thereof) that arise out of or are based upon any performance by the Subdivider hereunder; and the Subdivider shall reimburse County for any and all legal or other expenses reasonably incurred by 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 llft� Subdivider may have. ti%Wr S. It is mutually agreed, pursuant to the provisions of Section 30-28-137( 1, Colorado Revised Statutes 1973, as amended, that the County or any purcha�,Pr of any lot, lots, tract or tracts of' land subject to a plat restriction which is the security portion of a subdivision improvements agreement shall have the authority to brino an action in any district court to compel the enforcement of any subdivision improvements agreement on the sale, conveyance or transfer of any such lot, lots, tract or tracts of land or of any other provision of this article. Such authority shall include the right to compel rescission of any sale, conveyance or transfer of any lot, lots, tract or tre-:ts of land contrary to the provisions of any such restrictions set forth in the plat or in any separate recorded instrument, but any such action shall be commenced prior to the issuance of a building permit by the COcrnty where so required. 6. It is further mutually agreed that pursuant to the provisions of Section 30-25-137 (2), Colorado Revised Statutes, 1973, as amended, that as improvements are completed, the Subdivider may apply to the Board of County Commissioners for a release of part or all of the collateral deposited with said board. Upon inspection and approval, the board shall release said collateral. If the board determines that any of such improvements are not constructed in sub- stantial coi;ipliance with specifications, it shall furnish the Subdivider a list of specific deficiencies and shall be entitled to withhold collateral sufficient to ensure such substantial compliance. If the Board of County Commissioners determines that the Subdivider will not construct any or all of the improvements in accordance with all of the specifications, the Board of County Comi,rissioners may withdraw and employ from the deposit of collateral such funds as gray be necessary to construct the improvements in accordance with the specifications. 7. The Subdivider warrants all work and material for a period of one year after acceptance of all work referred to in this Agreement by County. Further, County shall have a right to require security or collateral be provided by Sub- divider to remain, as determined by County, sufficient to cover any and all claims under this warranty. 3. The County agrees to approval of the final plat of('-/"i,, l:� _ I ,� �1r Subdivision, subject to the terms and conditions of this agreement. 9. Parties hereto mutually agree that this agreement may be amended from nitre to time, provided that such ariendrrents be in writing and signed by all parties hereto. 10. This agreement shall be enforceable against the Subdivider provided, however, that in the event the, Subdivider sells or transfers all or part of the Subdivision, as shown in the final plat (prior to extensive sales of individually platted tracts), the obligations of the Subdivider under this arfreentent as to that portion of the Subdivision gray be asSLMied by the faur•r_fra5(-'r- of the parcel , and Subdivider shall have no further obligations hereunder. It is agreed, however, LIW L M) SUCK aSSul:tptlon Of theSC, obligations sht-r I 1 be effective unless the Board of County Commissioners dives its prior appr•ovtll to such assumption, ful luwing an investigation of the financial condition of the Iritr•r.haSer. 3. L� 11. It is further agreed that the Subdivider shall at all times from the acceptance by the Board of County Commissioners of the roads offered for dedication in the subject,subdivision to the completion and acceptance of said work or improvement by the County, give'aood and adequate warning to the traveling i public of each and every dangerous condition existent in said roads or any of them, and will/protect the traveling public from such defective or dangerous condition. It is understood and agreed that until the completion of all the improvements herein'agreed to be performed, each of said roads not accepted as / improved shall be under the charge of Subdivider for the purpose of this Agreement. ATTEST, . o' o Jerk of the Boa f County Commissioners SUBDIVIDER COUNTY OF EAGLE, STATE OF COLORADO By and through its BOARD OF COUNTY COINIHISSIONERS Chairman, Dale F."Grant STATE OF COLORADO ) ss. COUNTY OF EAGLE The foregoing Subdivision Improvements Agreement was before me this q day of 4, 190111 , by acknowledged Witness my hand and official seal. Pdy commission expires: f�_ , 19 J02_ Nota y Public 4. n i n 7' r EXHIBIT A T-H-Y Associates agrees to improve county road afacing Middle Ebby Creek Subdivision up to mountain standard roads; that is a road 22 feet wide with 4 foot shoulders and covered with 6 inches of gravel and road base. `%400� 0"T 5� y :S i N•