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HomeMy WebLinkAboutC81-048 Blue Creek Ranch_SIA40 eg goo SUBDIVISION IMPROVEMENTS AGREEMENT THIS AGREEMENT, made and entered into this 29th day of April 1981, between WILLIAM M. HIGNETT, of Pitkin County, Colorado, hereinafter referred to as "Subdivider" and THE BOARD OF COUNTY COMMISSIONERS OF EAGLE COUNTY, COLORADO, hereinafter referred to as "County", WITNESSETH: WHEREAS, the Subdivider as a condition of approval of the final plat of Blue Creek Ranch Subdivision is required to enter into an agreement with the County as provided for by Section 30-28-137 C.R.S. 1973, as amended, whereby Sub- 1-✓ divider assures the installation of certain improvements to `wo, the subdivided property in accordance with the final plat drawings of Blue Creek Ranch Subdivision submitted herewith; and WHEREAS, in accordance with the provisions of the above cited authority, Subdivider is required to secure or collat- eralize.the performance of the provisions of this agreement; and WHEREAS, Subdivider desires to secure his performance of the provisions hereof by means of a promissory note and first lien mortgage covering certain of the lots in such subdivision as well as a restriction on sales of other lots in the subdivision; NOW THEREFORE, in consideration of the premises and the covenants herein contained to be performed by the parties hereto, it is hereby understood and agreed as follows: 1. Subdivider hereby agrees, at his sole expense, to furnish all labor and materials necessary to complete the construction and installation, in a good and workmanlike manner, of all subdivision improvements listed on Exhibit "A" annexed hereto and incorporated herein by this refer- *MWI ence, in accordance with the regulations of the County and any state and federal agencies, and plans and specifications for such improvements heretofore submitted to the County. i \ - Such improvements shall be constructed and installed with attendant inspection of the County Engineer and/or a desig- nated representative of the Planning Department. Provided that said Engineer or such representative shall be available upon 24-hour notice from the Subdivider to conduct their inspections. Such improvements shall be constructed and installed in accordance with the final plat drawings and specifications of the Blue Creek Ranch Subdivision submitted herewith, and the County Engineer and/or designated repre- sentative of the Planning Department shall not unreasonably withhold their approvals upon such inspections if such construction is done in accordance with said final plat ,%00, drawings and specifications. 2. It is understood for purposes of this agreement that the cost of all of said subdivision improvements, based upon the engineered cost estimates set forth on Exhibit A hereto, hereinafter referred to as the "Phase I Improve- ments" is the sum of $680,500.00 3. Said Phase I subdivision improvements shall be completed on the schedule set forth on Exhibit A hereto. 4. To secure and guarantee performance of its obliga- tions as set forth herein, the Subdivider agrees to provide security and collateral in the form of a promissory note in the amount of the above total estimated cost of the Phase I Improvements and a first lien mortgage deed on all of the following described lots in said subdivision, to -wit: Lots 1, 21 31 19, 20, 21, 22, 23, 44 and 45 of Blue Creek Ranch Subdivision; Said note to bear no interest while not in default. 5. To further assure that lots other than those lo- cated in Phase I of the subdivision will not be sold without a guarantee of completion of the subdivision improvements, no lots other than those located in Phase I, which is com- prised of Lots 1, 21 3, 19, 20, 21, 22, 23, 44, 45, 46, 47, 48, 49, 50, 51, 52, 53, 54, 55, 56, 57, 58 and 59 of Blue Creek Ranch Subdivision, shall be sold or conveyed unless and until collateral in an amount and form acceptable to the -2- County has been provided by Subdivider to secure Subdi- vider's performance in construction and installation of the 1%W01 subdivision improvements in the balance of the subdivision. Such remaining improvements shall be constructed pursuant to a supplement to this agreement which provides cost estimates and schedules for completion of the various phases of the agreement and a description of the collateral agreed upon. It is understood and agreed that a promissory note and first lien mortgage of lots within the subdivision is an accept- able form of collateral for purposes of this paragraph. 6. The Subdivider may at any time substitute the col- lateral originally deposited with the County herein for N%.O, another fora of collateral reasonably 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. 7. 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 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 liabil- ities shall be 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 the County for any and all legal or other expenses reasonably `r' 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. -3- 8. 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 within Blue Creek Ranch 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 right to compel rescission of any sale, conveyance or transfer of any lot, lots, tract or tracts of land contrary to the provi- sions of this agreement or any 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 build- ing permit by the County where so required. 9. It is further mutually agreed that pursuant to the provisions of Section 30-28-137(2), Colorado Revised Statutes 1973, as amended, that as improvements are completed, the Subdivider may apply to the County for a release of part or all of the collateral deposited with the County. Upon - inspection and approval, the County shall release said collateral. If the County 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 County determines that the Subdivider will not con- struct any or all of the improvements in accordance with all of the specifications, the County may realize on the collat- eral and withdraw and employ from the proceeds of such collateral, such funds as may be necessary to construct the improvements in accordance with the specifications. 10. The Subdivider warrants all work and materials for 1.01/ a period of one year after acceptance of all work referred to in this agreement by the County. Further, the County shall have a right to require security or collateral be -4- 0 r..� provided by Subdivider to remain, as determined by the County, sufficient to cover any and all claims under this warranty. 11. The County agrees to approval of the final plat of Blue Creek Ranch, subject to the terms and conditions of this agreement and to the terms of the Agreement for Off Site Subdivision Improvements executed concurrently herewith. 12. The parties hereto mutually agree that this agree- ment may be amended from time to time, provided that such amendments be in writing and signed by all parties hereto. 13. This agreement shall be enforceable against the Subdivider, provided, however, that in the event the Sub- divider sells or transfers all or part of the subject sub- division, 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 subject subdivision may be assumed by the purchaser of the parcel, and Subdivider shall have no further obligations under this agreement. It is agreed, however, that no such assumption of these obligations shall be effective unless the County gives its prior approval to such assumption, following an investigation of the financial condition of the purchaser. IN WITNESS WHEREOF, the parties have executed this agreement as of the date first above written. Attest: Clerk of 6h4 Board of County Commissioners 'N�' COUNTY OF EAGLE, STATE OF COLORADO By and Through Its BOARD OF COUNTY COMMISSIONERS Chairman SUBDIVIDER 1 � • Wi liam M. Hignett STATE OF COLORADO ) ) SS. COUNTY OF EAGLE ) The foregoing Subdivision Improvements Agreement was acknowledged before me this _ day of , 1981 by as Chairman, and Johnette Phillips as Clerk of the Board of County Commissioners of Eagle County, Colorado. Witness my hand and official seal. My commission expires: Notary Public STATE OF COLORADO ) SS. COUNTY OF ) The foregoing Subdivision Improvements Agreement was acknowledged before me this c day of 1981 by William M. Hignett. Witness my hand and official seal. My commission expires: G-Pj- /' mQ wm&'� a Mbo�� Notary Public -6- r. EXHIBIT "A" BLUE CREEK RANCH PUBLIC IMPROVEMENTS Estimated "Phase I Improvements" Water System EXHIBIT "A" BLUE CREEK RANCH PUBLIC IMPROVEMENTS Estimated "Phase I Improvements" Water System $ 290,000.00 Electrical Service $ 140,000.00 Phone Service $ 45,000.00 Streets (6,250 feet) $ 187,500.00 Street Lighting $ 4,000.00 Street Signs $ 1,500.00 Revegetation $ 12,500.00 Total of Phase I $ 680,500.00 That all Phase I improvements will be complete two years from Final Plat approval. ,N"Mov, J