HomeMy WebLinkAbout2.0 SIA'sRecorded at 1740 o'clock A M; DEC 14 1981 •
Reception No. 3 2 MILDRED ALSDORF, RECORDER
SUBDIVISION INP sOVEMENTS AGREEMENT
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THIS AGREEMENT, made and entered into this /�� :"day
December, 1981, between Herbert Sillivan and Don Sillivan
hereinafter jointly called the "Subdivider" and the Board of
County Commissioners of Garfield County, Colorado, hereinafter
called the "County".
W ITNESSET H:
WHEREAS, the Subdivider, as a condition of the final
approval of the Casa Del Monte Subdivision wishes to enter into
a Subdivision Improvements Agreement as provided for by §30-28-137,
C.R.S. 1973 as amended, and §3.10.01 of the Garfield County
Subdivision Regulations; and
WHEREAS, pursuant to the same authority, the Subdivider
is obligated to provide security or collateral sufficient in the
judgment of the County to make reasonable provision for completion
of certain public improvements, set forth on Exhibit "A" attached
hereto and incorporated herein; and
WHEREAS, the Subdivider wishes to provide collateral to
guarantee performance of this Agreement including construction o
the above -referenced public improvements, by means of a promissory
note, deed of trust on lots 2 and 3 and for substitution of
collateral as hereinafter provided.
NOW, THEREFORE, in consideration of the following mutual
covenants and agreements, the Subdivider and the County agree
as follows:
1. The subdivider agrees to construction and installation,
at its sole expense, of all those public improvements
as set forth on Exhibit "A" attached hereto.
2. The Subdivider agrees that all of those certain public
improvements to be completed as identifed on Exhibit "A"
shall be constructed by July 1, 1982, in compliance with
the following:
a) All final plat and other documents submitted prior
to approved by the County at the time of final
plat approval.
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b) All laws of the united States, State of Colorado,
Garfield County, and its various agencies, affected
special districts, and/or servicing authorities.
c) Such other designs, drawings, maps, specifications,
sketches, and other matter submitted to and approved
by any of the above -stated governmental entities.
3. To secure and guarantee performance of its obligations
as set forth herein, the Subdivider agrees to provide
security and collateral in the form of a promissory
note in the amount of $ 93,102.00 together with a
first deed of trust on lots 2 and 3 of said subdivision.
It is expressly agreed by the parties that the subdivider
may sell lot 2 or lot 3 upon condition that all proceeds
of the sale due the subdivider be put into an escrow
account as agreed upon by the parties, the money from
which can be used to pay for the public improvements
listed in Exhibit "A" above, upon the approval of the
parties to this agreement.
4. It: is mutually agreed, pursuant to the provisions of
§30-28-137 (3) C.R.S. 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 lot, lots, tract, or tracts of land
contrary to the provisions of any such restrictions
set forth on the plat or in any separate recorded in-
strument, but any such action shall be commenced prior
to the issuance of a building permit by the County where
so required or otherwise prior to commencement of con-
struction on any such lot, lots, tract, or tracts of land.
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bi:K 538 oz]E 79
5. It is further mutually agreed that pursuant to the
provision of §30-28-137 (2) C.R.S. 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 specification, 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 Commissioners may withdraw and employ from
the deposit of collateral such funds as may be necessary
to construct the improvement in accordance with the
specifications.
6. In addition to the above obligations, the Subdivider
shall provide a plat restriction by covenant affecting
the property, which restriction reads as follows: The
conveyance of lots described herein is subject to a
subdivision improvements agreement with the Board of
County Commissioners of Garfield County, Colorado, dated
day of December, 1981, and no lot within the
subdivision shall be issued a building permit
until such time as Garfield County has released the
Subdivider from his obligations of the Subdivision
Improvements Agreement.
7. The Subdivider agrees to provide the County with a
title insurance commitment at time of final platting
evidencing that fee simple title of all lands in the
subdivision is vested totally with the Subdivider free
of any and all lien and encumbrances, other than those
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those whose holders are signatories of the plat.
7. The County agrees to approval of the final plat of
Casa Del Monte Subdivision subject to the terms and
conditions of this Agreement.
8. Parties hereto mutually agree that this Agreement may
be amended from time to time provided that such amend-
ment be in writing and signed by all parties hereto.
IN WITNESS WHEREOF, the parties have hereunto set their
hands and seals the day and year first written above.
BOARD OF COUNTY COMMISSIONERS
GARFIELD COUNTY, COLORADO
ATTEST:
BY:
Chairman
CASA DEL MONTE SUBDIVISION
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EXHIBIT "A"
COST OF 2060 FEET OF 6" DUCTILE IRON PIPE AND
NECESSARY VALVES, FITTINGS AND MISCELLANEOUS
PARTS.
a -K 588 Ptr,E181
$17,752.00
2) COST OF INSTALLING PIPE INCLUDING ROUGH GRADING
ROAD INTO CUL-DE-SAC 18,000.00
3) COST OF ROAD & PIPE BEDDING MATERIAL 6,000.00
4) COST ESTIMATE FOR ENGINEERING 2,500.00
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• 5) COST OF FOUR (4) TRANSFORMERS (CITY OF GLENWOOD
SPRINGS) 6,350,00
0 6) CASH DEPOSIT TO BE GIVEN TO NCWA IN LIEU OF
CONSTRUCTING PUMPHOUSE 35,000.00
�7) COST ESTIMATE FOR TRENCHING FOR ELECTRICAL &
GAS LINES 4,000.00
8) COST OF CHIP & SEALING 500 FEET OF ROAD 3,500.00
TOTAL COSTS $93,102.00
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PROMISSORY NOTE
4110 s �.K 558 P!cE1 2
$93,102.00 December 11, 1981
FOR GOOD AND VALUABLE CONSIDERATION, Sillivan Brothers Partnership, promise
to nay to the order of the Board of County Commissioners of Garfield County,
Colorado, at the Garfield County Courthouse. Glenwood Springs, Colorado, or such
other location as the Board may from time to time direct, the sum of NINETY-THREE
THOUSAND ONE -HUNDRED TWO DOLLARS ($93,102.00), without interest to the date of
maturity.
It is agreed that this note is security for the performance of a certain
Subdivision Improvement Agreement entered into by and between Sillivan Brothers
Partnership and the Board of County Commissioners of Garfield County, Colorado on
the 10th day of December, 1981. In the event that maker hereof completes the
public improvements, pursuant to said Subdivision Improvements Agreement, this note
shall be void, and shall be cancelled and returned to the maker.
It is further agreed that if this note or any Payment due hereunder is not
paid when due or declared due hereunder, unless otherwise provided, the principal
and accrued interest thereon shall draw interest at the rate of -0-% per annum, and
that failure to make any payments of prinzipal and 771-4‘n file or any default
under any encumbrance or agreement securing this note, shall cause the whole note to
become due at once, whereupon the interest to be counted as principal at the option
of the holder of this note. The maker hereof waives presentment for payment,
protest, notice of non-payment and of protest, and agrees to any extension of time
of payment and Partial payments before. at or after maturity, and if this note or
interest thereon is not paid when due, or suit is brought. agrees to pay all
reasonable costs of collection, including a reasonable attorney's fee. This
promissory note is secured by a mortgage deed of even date herewith.
DONALD G.
SILLIVAN, PARTNER