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HomeMy WebLinkAboutC23-382 Edwards Riverfront Estates_3rd amendment to SIA_recordedDocuSign Envelope ID: 3EBFDBBO-841F-4847-9B83-2BEDA66EO092 THIRD AMENDMENT TO SUBDIVISION AND OFF -SITE IMPROVEMENTS AGREEMENT FOR THE EDWARDS RIVERFRONT ESTATES FINAL PLAT File No. PDF-9117 THIS THIRD AMENDMENT to the Subdivision and Off -Site Improvements Agreement for the Edwards Riverfront Estates Final Plat (hereinafter "Third Amendment") is entered into on 12/5/2023 , by and between the Board of County Commissioners of the County of Eagle, State of Colorado (hereinafter "County") and Kudel Development LLC, a Colorado limited liability company, whose mailing address is PO Box 516, Avon, CO 81620 (hereinafter "Subdivider"). WITNESSETH WHEREAS, Subdivider and County entered into a Subdivision and Off -Site Improvement Agreement for the Edwards Riverfront Estates Final Plat (hereinafter the "Original Agreement") on May 18, 2021; and WHEREAS, Subdivider and County subsequently amended the Original Agreement on November 9, 2021 through the First Amendment to Subdivision and Off -Site Improvements Agreement for the Edwards Riverfront Estates Final Plat (hereinafter "First Amendment"); and WHEREAS, Subdivider and County subsequently amended the Original Agreement and the First Amendment on September 27, 2022 through the Second Amendment to Subdivision and Off -Site Improvements Agreement for the Edwards Riverfront Estates Final Plat (hereinafter "Second Amendment"); and WHEREAS, Section 1.5, entitled "Date of Completion," of the Second Amendment provided that "All Subdivision Improvements shall be completed prior to May 5, 2023. The construction schedule is attached hereto as Exhibit C' ; and WHEREAS, Subdivider has requested and the Eagle County Engineering Department recommends an extension of the completion date originally set forth in the Original Agreement and amended by the Second Amendment; and WHEREAS, Section 1.10 of the Agreement, entitled "Landscape Plan", provides that "Subdivider has submitted a landscape plan to the County Department of Community Development which complies with the Land Use Regulations, Section 4-240, Installation and Maintenance Requirements (the "Landscape Plan"), and the Subdivider agrees to abide by the Landscape Plan. The estimated cost of the landscaping and irrigation systems, if any (collectively the "Landscape Improvements") is the sum of $48,349.65, as set forth on Exhibit B.' ; and Eagle County, CO Regina O'Brien Pgs: 6 REC.- $0.00 DOC: $0.00 202316128 12/06/2023 08:54:24 AM DocuSign Envelope ID: 3EBFD880-841F-4847-9NMBEDA66E0092 WHEREAS, Section 2.8 of the Agreement, entitled "Landscape Plan Collateral", provides in Section 2.8.1 that "Subdivider agrees to provide collateral for no less than one hundred and twenty-five percent (1250 0) of the estimated cost of the Landscape Improvements listed in the approved Landscape Plan, based on the cost estimate provided by the Subdivider and approved by the County, as set forth in Exhibit B and Section 1.10 above. The Landscape Plan Collateral shall be in the amount of $66,480.00,"; and WHEREAS, Section 4.5 of the Original Agreement provides that the Original Agreement may be amended or modified from time to time, provided that such amendment or modification be in writing and signed by all parties hereto; and WHEREAS, the Subdivider and County desire to amend the Original Agreement, the First Amendment, and Second Amendment to reflect a new completion date of April 15, 2024. WHEREAS, the Subdivider and County desire to further amend the Agreement to reflect a revised Estimated Costs of Landscape Improvements of 44$ ,389.40 and a revised Landscape Plan Collateral of 62$ ,521.00 to reflect the removal of metal edging from the Landscape Plan. AGREEMENT NOW THEREFORE, in consideration of the foregoing and the mutual rights and obligations as set forth below, the parties agree as follows: Section 1.5 of the Agreement is hereby amended to read as follows: 1.5 Date of Completion. All Subdivision Improvements shall be completed prior to April 15, 2024. The construction schedule is attached hereto in revised Exhibit C. 2. Section 1.10 of the Agreement is hereby amended to read as follows: 1.10 Landscape Plan. Subdivider has submitted a landscape plan to the County Department of Community Development which complies with the Land Use Regulations, Section 4-240, Installation and Maintenance Re4uirements (the "Landscape Plan"), and the Subdivider agrees to abide by the Landscape Plan. The estimated cost of the landscaping and irrigation systems, if any (collectively the "Landscape Improvements") is the sum of $44,389.40, as set forth on Exhibit B. To secure and guarantee performance of its obligations to install the Landscape Improvements as set forth in this Section 1.10, including the completion of the required Landscape Plan, the Subdivider hereby agrees to provide security and collateral in the form and as set forth in Section 2, below. 3. Section 2.8.1 of the Agreement is hereby amended to read as follows: 2.8.1 Prior to the issuance of any development permit for the Subdivision, Subdivider agrees to provide the County with collateral in the form of an irrevocable 2 DocuSign Envelope tD: 3EBFDBBO-841F-0847-9883-2BEDA66E0092 letter of credit acceptable to the County Attorney to ensure the Landscape Improvements will be installed according to the approved Landscape Plan (the "Landscape Plan Collateral"). Subdivider agrees to provide collateral for no less than one hundred and twenty-five percent (125%) of the estimated cost of the Landscape Improvements listed in the approved Landscape Plan, based on the cost estimate provided by the Subdivider and approved by the County, as set forth in revised Exhibit B and Section 1.10 above. The Landscape Plan Collateral shall be in the amount of $62,521.00, 4. Capitalized terms in this Third Amendment will have the same meaning as in the Original Agreement, First Amendment, and Second Amendment. To the extent that the terms and provisions of this Third Amendment conflict with, modify or supplement portions of the Original Agreement, First Amendment, or Second Amendment, the terms and provisions contained in this Third Amendment shall govern and control the rights and obligations of the parties. 5. Except as expressly altered, modified and changed in this Third Amendment, all terms and provisions of the Original Agreement, First Amendment, and Second Amendment shall remain in full force and effect, and are hereby ratified and confirmed in all respects as of the date hereof. 6. This Third Amendment shall be binding on the parties hereto, their heirs, executors, successors, and assigns. IN WITNESS WHEREOF, the parties hereto have executed this Third Amendment the day and year first written above. ATTEST: 4ZDocuSigned by: f,A,A Cler tote oard of County Commissioners COUNTY OF EAGLE, STATE OF COLORADO, By and Through Its BOARD OF COUNTY COMMISSIONERS FDocusign�e'drby.:1.By:�A{I Juj ► Matt 5cherr, vice chair Kathy Chandler- Henry, Ch it Address for giving notice: P.O. Box 850 Eagle, CO 81631 (970) 328-8685 DocuSign Envelope ID: 3EBFD8BO-841F13847-9B83-2BEDA66EO092 SUBDIVIDER: OVvrNER By:�f Addrg;�/for giving notice: Po L, 06, Atn)n (0 61600 STATE OF COLOR.ADO ) SS County of oA£4t ) The foregoing was acknowledged before me this _jj2 Tffday of 6,20 2023, le-yv! by )/11c�° of -eYCA� M17-Z75 WITNESS my hand and official seal. My commission expires // ?-DZ Public JOHN EDWARD WARREN III NOTARY PUBLIC - STATE OF COLO]2022 NOTARY ID 20234038571 MY COMMISSION EXPIRES OCT 11, 4 DocuSign Envelope ID: 3EBFD8B0-841F-4847-9B83-2BEDA66E0092 EXHIBIT B ENGINEER'S OPINION OF PROBABLE COST (LANDSCAPE) Project Name: Kudel Parcel P.U.D (AKA Edwards Riverfront Estates) Schedule B: Landscape Improvements Item # Description Quantity Unit Unit Price Ext. Price 1 Evergreen Tree 35 Ea $400.00 $14,000.00 2 Deciduous Tree 56 Ea $200.00 $11,200.00 3 Shrub 94 Ea $50.00 $4,700.00 4 Mulch / Cobble 5367 SF $1.00 $5,367.00 5 Native Grass 11224 SF $0.10 $1,122.40 6 Metal Edging*** 0 Ea $2.50 $0.00 7 Irrigation System 1 LS $8,000.00 $8,000.00 Subtotal $44,389.40 8 25% Landscaping Contingency 1 LS $12,087.35 $12,087.35 9 Total Contingency (5% of Subtotal) 1 LS $3,022,00 $3,022.00 10 Testing & Observation (5% of Subtotal) 1 LS $3,022.00 $3,022.00 Total Collateral Withheld (Rounded to the Dollar) $62,521.00 *** Remove by this amendment DocuSign Envelope ID: 3EBFD8B0-841F4847-9B83-2BEDA66E0092 Exhibit C Construction Schedule Work as described in Exhibit A and Exhibit B will be completed by April 15, 2024.