HomeMy WebLinkAboutC81-045 Brett Ranch_SIABook 321 217405 • A Pa& 37' Recorded -*_ :00 A.M. April 2, 1981 Fee $14.00pd Recordez\,,,jh9%,tette Phillips EagLq Bounty SUBDIVISION IMPROVEMENTS AGREEMENT S AGREEMENT made and entered into this 25th day Y of March, 1981, by and between BRETT RANCH PROPERTIES, a Colorado general partnership, hereinafter called the Subdivider, and the Board of County Comissioners of Eagle County, hereinafter called the County. WITNESSETH: WHEREAS, the Subdivider as a condition of approval of the final plat of Brett Ranch 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 improve- ments 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 a promissory note secured by a first deed of trust on real property located in the County of Eagle, State of Colorado. NOW THEREFORE, in consideration of the following mutual 0 covenants and agreements, the Subdivider and the County agree as follows: 1. The Subdivider hereby agrees, at its sole cost and espense, to furnish all equipment and material necessary to perform and complete, within 18 months from the date of recordation of the above -referenced subdivision final plat, in a good and workmanlike manner, all public improvements as shown in the final plat documents for the subject subdivision in accordance with all plans and speci- fications for the subject subdivision filed in the office of e 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 respective agencies, affected special districts and/or service districts. C. Such other designs, drawings, maps, specifi- cations, 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 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 improve- ments is the sum of $138,000.00. 3. To secure and guarantee performance of its obligations as set forth herein, the Subdivider agrees to provide security and collateral in the following form, as approved herein by the County: a promissory note in the r,solo, amount of $138,000.00 secured by a first deed of trust on Lot 1 of the subject subdivision. 4. The Subdivider may at any time substitute the collateral originally deposited with the County herein for another form 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. 5. The County shall not, nor shall any officer ,*Moo, or employee thereof; be liable or responsible for any accident, loss or damage happening or occuring to the works specified -2- 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 'N' 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 harm- less the County, and any of its officers, agents, and employee 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 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. 6. It is mutually agreed, pursuant to the pro- visions 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 restric- tion which is the security portion of a subdivision improve- ments agreement shall have the authority to bring an action 4%WO/ in any district court to compel the enforcement of any *no" subdivision improvements agreement on the sale, conveyance or transfer of any such lot, lots, tract or tracts or 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 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 County where so required. -3- 7, 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 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 withhhold 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 ,%"OF, improvements in accordance with all of the specifications, the Board of County Commissioners may withdraw and employ from the deposit of collateral such funds as may be necessary to construct the improvements in accordance with the specifi- cations. 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 the County. Further, the County shall have a right to require security or collateral be provided by Subdivider to remain, as determined by the County, sufficient to cover any and all claims under this warranty. 9. The County agrees to approval of the final plat of Brett Ranch Subdivision, subject to the terms and conditions of this Agreement. 10. Parties hereto mutually agree that this Agreement may be amended from time to time, provided that such amendments by in writing and signed by all parties hereto. 11. 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 -4- 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 N%001 the subject subdivision may be assumed by the purchaser of the parcel, and Subdivider shall have no further obligations 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 assump- tion, 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 \%00� work or improvement by the County, give good and adequate warning to the traveling 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 comple- tion 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. IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written. S%00, COUNTY OF EAGLE, STATE OF COLORADO By and through its ATTEST: BOARD OF/)COUNTY COMMISSIO ERS BY: c Dale F. Grant, Chairman Clerk of the Board o County Comissioners SUBDIVIDER: BRETT RANCH PROPERTIE a Co r a d geZer1g tner ip BY • om T, isa a, General Partner D I H. PO R neral artner BY: om . HisatAttorney n act for Daniel H. Power -5- 1QMF1 \� STATE OF COLORADO ) ss. COUNTY OF EAGLE The foregoing Subdivision Improvements Agreement was acknowledged before me this _jf?+k day of M"ch -) 1981 by Tom T. Hisata individually -and as Attorney In Fact for Daniel H. Power, as the general partners of Brett Ranch Properties, a Colorado general partnership. Witness my hand and official seal. My commission expires: Notary Public .,I.. b ! M9 EXHIBIT A PUBLIC IMPROVEMENTS FOR ROAD AND RE -VEGETATION AND RESTORATION OF AFFECTED TERRAIN Said improvements shall include excavation, embarkments, paved surfacing, drainage work and construction and installa- tion of culverts; and restoration and re -vegetation of terrain disturbed by said improvements. All of the above as more specifically set forth on the final plat for Brett Ranch Subdivision, and those public improvement maps, plans, and specifications for said subdivision as filed and approved in the office of the County Clerk and Recorder, and/or County Engineer and/or the Department of Planning and Development, respectively, of the County of Eagle, State of Colorado, all of said filed and approved documents incorporated herein by this reference. J, F