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HomeMy WebLinkAboutC81-049 The Homestead_SIABook 327 page• Recorded at 11:30 A.M. Auqust 5, P81 Fee $15.00pd 4F-order Johnnette Phillips Eagle County -�%Vw SUBDIVISION IMPROVEMENTS AGREEMENT THIS AGREEMENT, made and entered into this �' tl- 1 day of 1981, by and between HOMESTEAD RANCH DEVEL PMENT CORP., hereinafter called the Subdivider, and the Board of County Commissioners of Eagle County, hereinafter called the County. WITNESSETH: WHEREAS, the Subdivider as a condition of approval of the final plat of THE HOMESTEAD - Filing No. 1, 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 obli- gated 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 *.i performance of this agreement, including construction of the above -referenced public improvements by means of its 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 December 31, 1985, 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 Community 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 respectiveagencies, affected special districts arid/or service district. C. Such other designs, drawings, maps, spcifications, sketches, and other matter submitted 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 Build- ing 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. 4 �I S 2. The estimated cost of said work and improvements is the sum of $2,615,800.00. To secure and guarantee performance of its obligations as set forth herein, the Subdivider agrees to provide security and collateral in 11OMWO, the form of a Promissory Note in the amount of $2,615,800.00, secured by a first Deed of Trust on property in Eagle County, Colorado described in. Exhibit "B" 3. With respect to the location of the primary access road and a secondary access road for The Homestead - Filing No. 1 Subdivision of which adequate information is not presently available for the County's determination and approval of the exact location thereof, the Subdivider and the County agree as follows: (a) that no building permits shall be issued until the primary access road through the adjacent Edwards Village Subdiv-' ision onto Highway 6 has been approved by the County. (b) that the secondary access road shall be located either through Tract "N" as designated on the Final Plat of The Homestead - Filing No. 1 Subdivision or through real 11"MI-11 property adjacent to said Subdivision presently owned by Vail +15 Partnership. In the event a County road is not built through Vail +15 that connects with Fremont Drive within The Homestead by 1984, the County Commissioners will hold a public hearing between 1984 and 1987 to determine the exact location of the secondary access road. In the event that the location of the secondary access road is through Tract "N", such access road shall be a private, single lane road designated for emergency access only. (c) the Subdivider shall take all necessary steps to provide for the location and construction of such primary and secondary roads as finally determined and approved by the County, pursuant to the provisionsof this Subdivision Approvement Agreement. Such steps, if necessary, shall include but not be limited to the delineation of the exact location of such access roads on the Final Plat of The Homestead - Filing No. 1 Subdivision. 4. 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 these public improvements referred to herein and the performance of the terms of this Agreement. 5. 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. -2- 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 offi- cers, 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 Subdivider may have. 6. It is mutually agreed, pursuant to the provisions of Section 30-28-137 (3),Colorado Revised Statutes 1973, as amended, that the County or any purchaser 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 bring 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 `%WW' right to compel rescission of any sale, conveyance or transfer of any lot, lots, tract or tracts of land contrary to the provisions of any such restric- tions 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 County where so required. 7. It is further mutually agreed that pursuant to the provisions of Section 30'-28-137(2), Colorado Revised Statutes, 19739 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 substantial compliance 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 speci- fications, the Board of County Commissioners may withdraw and employ from the deposit of collateral such funds as may be necessary to construct the improve-' ments in accordance with the specifications. 8. 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 Subdivider to remain, as determined by County, sufficient to cover any and all claims under this warranty. 9. The County agrees to approval of the Final Plat of The Home- stead - Filing No. 1, subject to the terms and conditions of this agreement. 0 om ... 10. Parties hereto mutually agree that this agreement may be amended from time to time, provided that such amendments be in writing and signed by all parties hereto. 11. 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 agreement as to that portion of the Subdivision may be assumed by the purchaser of the parcel, and Subdivider shall have no further obliga- tion hereunder. It is agreed, however, that no such assumption of these obligations shall be effective unless the Board of County Commissioners gives its prior approval to such assumption, following an investigation of the financial condition of the purchaser. 12. 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 good and adequate warning to the traveling public of each and every dangerous condition exis- tent 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 per- formed, each of said roads not accepted as improved shall be under the charge of Subdivider for the purpose of this Agreement. ATTEST: Jerk of the B r of County Commissioners HOMESTEAD RANCH DEVELOPMENT CORP., Subdivider ert Warner, Jr., President STATE OF COLORADO ) ss. COUNTY OF EAGLE ) COUNTY OF EAGLE, STATE OF COLORADO By and through its BOARD OF COUNTY COMMISSIONERS k�� 494/ Chairman, Dale F. rant Dennis Gelviti, Assistant Secretary The foregoing Subdivision Improvements Agreement was acknowledged before me this <_t4* day of 1981, by ROBERT WARNER, JR., and DENNIS GELVIN. Witness my hand and official seal. My commission expires: fi Notary ruD11C. -4- EXHIBIT "A" The Homestead - Filing No. 1 PUBLIC IMPROVEMENTS COST ESTIMATE `%•►' ROADS Excavation $ 1799000 Fill 382800 Road Base 2109000 Asphalt 2242000 Offsite Road Improvements Edwards Village Road * 99,000 Highway 6 Intersection Improvements * 50,000 Access to Lake Creek Road ** 49,000 WATER 3021,500 SANITARY SEWER 4459000 ELECTRIC 3169250 DRAINAGE STRUCTURES 1559250 REVEGETATION 859000 RECREATION FACILITIES Bike Trails (as shown) 75,000 Tennis Courts - 3 709000 Tot Lots - 1 16,700 Basketball' & Volleyball Courts (1 each) 132500 LANDSCAPE, SIGNS & IRRIGATION 49,000 $223782000 Plus 10% contingency requested by Eagle County 237,800 $29615,800 * This would be released when Edwards Village bonds said road plus three-quarters'(3/4) of the intersection. ** This road would be constructed between 1984-87 at the instruction.of County Commissioners in the event that Fremont Drive does not extend or connect to Lake Creek Road. Lots 27, 289 29, and 30, Block 15 and Lots 1 - 45, Block 11, The Homestead, Filing No. 1, Eagle County, Colorado. 11 . P40N #^