HomeMy WebLinkAbout1.08 H-2017 Amended & Restated Development Agreement (Rec_No_894969)ReaoptionN• 894969
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AMENDED AND RESTATED DEVELOPMENTAGREEMENT
SPRING VALLEYRANCHPLANNED UNPPDEVELOPMENT
THIS AGREEMENT, is made and entered into between the BOARD OF COUNTY
COMMISSIONBRS OF THE COUNTY OF GARFIELD, a body politic and corporate (the
"County"), SPRING VALLEY HOLDINGS, LLC, a Delaware Limited Liability Company
("Developer"), and SPRING VALLEY RANCH COMMUNITY MASTER ASSOCIATION,
INC., a Colorado non-profit corporation (the "HOA"). The County, Developer, and the HOA may
hereinafter be referred to collectively as the "Parties".
WITNESSETH:
A. Developer is the owner of certain real property located in Garfield County,
Colorado, more particularly described in Exhibit 1 ("Developer's Property"). The HOA is the
owner of certain real property located in Garfield County, Colorado, more particularly described
in Exhibit 2 ("HOA Property"), which property was conveyed to the HOA by Developer for the
purposes described in the Project Plans (defined below). The Developer's Property and HOA
Property are collectively referred to as the "Property."
B. By Resolution No. 2008-55, which was approved in a public hearing before the
Garfield County Board of County Commissioners on December 7, 2007 and memorialized in a
Resolution signed on April 21, 2008, recorded in the real property records of Garfield County as
Reception No. 747015, and corrected by Resolution No, 2010-38, the Garfield County Board of
County Commissioners (the "Board") approved the Spring Valley Ranch Planned Unit
Development (the "SVR PUD"). The SVR PUD contemplates residential and commercial uses
with significant active and passive open space areas (the "Project"), as documented in Resolution
2010-38, recorded in the real property records of Garfield County as Reception No. 786992 and
Incorporated by this reference.
C. By Resolution No. 2008-56, which was approved in a publio hearing before the
Garfield County Board of County Commissioners on December 7, 2007 and memorialized in a
Resolution signed on April 21, 2008, recorded in the real property records of Garfield County as
Reception No. 747016, the Board approved the Preliminary Plan for the SVR PUD (the "SVR
D. By Resolution No. 2012-95, which was approved in a public hearing before the
Garfield County Board of County Commissioners on November 13, 2012, the Development
Agreement was amended to include 21 phases, dates of completion, and the HOA property
description.
B. The SVR PUD and SVR Preliminary Plan contemplate twenty-one (21) separate
phases of development for the Project, wherein each phase will require final plat approval.
F. The SVR PUD and SVR Preliminary Plan provide that the first phase of
development of the Project will consist of one parcel (P-1) owned by Developer, on which is
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located an existing dwelling unit, and the HOA Property, which consists of open space mid limited
entryway improvements ("Phase 1 "). Developer does not plan, and Phase 1 does not contemplate,
any new dwelling units. The County and the Developer recognize that this configuration represents
a unique factual situation that does not create or imply any precedents for other developments in
the County.
G. The SVR PUD provides that the start of construction for each phase is based on the
date of approval of the final plat for Phase 1 (the "Phase 1 Final Plat"); provided, however, that
the final plats for all phases of the Project are approved no later than fifteen (IS) years after the
date of approval of the Phase 1 Final Plat (the "Phasing Plan"),
H. By motion, dated July 21, 2008, the Board approved an extension of not more than
one (1) year for Developer to commence development of the Project or submit an application for
the Phase 1 Final Plat (the "Approved Extension").
I. Developer submitted a complete application for the approval by the County of the
Phase I Final Plat in the time period allowed by the Approved Extension and lies,
contemporaneously herewith, brought the Phase 1 Final Plat before the Board for final approval.
The County has considered and approved the application for approval of the Phase I Final Plat
and the request to approve this Development Agreement, after notice and public hearing as
required by law, and pursuant to the requirements of Section 5-305 of the Garfield County Land
Use Resolution of 2008 (the "LUR"). The County finds and determines that the Phase I Final Plat
constitutes a "Site Specific Development Plan," as that term is defined in C.R.S. § 24-68-102(4)(a)
and Section 1-202(B) of the MR.
J. The Vested Property Rights Statute C.R.S. §§ 24-68-101 et seq. (the "Statute") and
the LUR provide for the establishment of vested property nights in order to advance the purposes
stated therein, and authorize the Comity to enter into development agreements with landowners
providing for vesting of property development for periods greater than three (3) years.
K. Development of the Property in accordance with the SVR PUD, SVR Preliminary
Plan, Phase 1 Final plat, and such future final plats that are approved for the various phases of the
Project (collectively, the "Project Plans") will provide for orderly, well planned growth in
accordance with the policies and goals stated in the Garfield County Comprehensive Plan, provide
significant trails and open space, promote diversity of housing stock, ensure reasonable certainty
and stability in the land use planning process, stimulate economic growth within the County, and
L. Development of the Property will also require substantial investments in
infrastructure improvements and public facilities, both on the Property and outside the Property,
which will serve the needs of the Property and the County. Such investments can be supported
only with assurances that development of the Property can proceed to ultimate completion as
provided hi the Project Plans and this Agreement.
M. In exchange for the foregoing benefits and other benefits to the County
contemplated by this Agreement, together with the public benefits served by orderly and well
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planned development of the Property, Developer desires to receive vested property rights in the
Project Plans in accordance with this Agreement.
N. In addition, and notwithstanding the foregoing recitals, in light of the current
difficulties and volatility of the national housing and lending market, it may not be prudent for
Developer to undertake the large expenditures of funds necessary to commence development of
Phase 2 and subsequent phases within the time frame set forth in the Phasing Plan. In the event
Developer decides not to commence development of phases subsequent to Phase I within the time
frame set forth in the Phasing Plan or otherwise does not comply with the Phasing Plan, Developer
seeks the County's assurance that it will undertake the procedures necessary to return the Property
to its prior configuration and rezone the Property from PUD to a zone district that meets the
requirements of law. In such event, Developer further seeks the HOA's assurance that it will re -
convey the HOA Property back to Developer for the purpose of effectuating the return of the
Property to its prior configuration.
O. The mutual promises, covenants, and obligations contained in this Agreement are
authorized by the statutes of the State of Colorado and the laws of the County.
NOW, THER&PORE, in consideration of the promises cited above and the mutual
covenants and promises contained herein, the sufficiency of which is acknowledged, the County
and Developer agree as follows:
I. incorporation ofRecltals. The Parties agree that the aforesaid recitals are true and
correct, and those recitals are hereby incorporated into the body of this Agreement.
2. General Provisions.
(a) Scope. The terms and conditions of this Agreement shall apply to the
Property,
(b) Phasing. Construction of the Project is anticipated to occur in up to twenty-
one (21) phases, with Phase I being the initial phase of the Project, and construction of
subsequent phases occurring in accordance with the Phasing Plan set forth in the SVR
PUD.
3. Vesting of Certain Property Rights. The County and Developer hereby agree that
and complete development and use of the Property.
(a) Intent of Vesting System. The vesting system set forth in this Section 3
balances the County's obligation to protect the public health, safety and welfare of the
community and its desire to facilitate the highest quality development with Developer's
private property rights and Developer's need to rely on County approvals to achieve an
economically viable project.
(b) Overview of Vesting System.
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(i) Nature of Vested Rights. During the tern of vested rights set forth
in Section 3(d) below, Developer will have the right to develop uses at such
densities and in the general locations on the Property described in the approved
Project Plans. Upon County approval of any future final plats that are approved for
the various phases of the Project, such plats shall automatically be entitled to the
same vested rights as have been granted herein for the some period of vesting which
remains under this Agreement,
(c) Rights ThatAre Vested. The rights identified herein or as may hereafter be
acquired by operation of any state or local vested property rights law shall constitute vested
property rights under this Agreement and shall not be taken by the County without just
compensation. These rights Include the following:
(i) No Downzoning. The maximum number of residential dwelling
units and acres for residential use, and the total gross acres for non-residential uses,
as set forth in the Project Plans are hereby vested.
(ii) Uses, Densities and locations. The right to develop the Property
in accordance with file uses, densities, and general locations set forth in the Project
Plans is hereby vested.
(iii) Site Development Standards. The right to develop the Property in
accordance with the design standards, development standards, and terms and
conditions set forth in the Project Plans and the resolutions of the Board approving
the same is hereby vested.
(iv) Thning of Development The right to commence and complete
development of the Property at such time in such order and at such rate as set forth
in the Phasing Plan of the SVR PUD. This provision of this Agreement supersedes
any County rules or regulations that require development to be commenced or
completed in any specific time frame.
(v) Subsequent Approvals. The right to receive all County approvals
necessary for development of the Project provided that subsequent final plat
submittals or applications for other approvals comply with this Agreement and the
-Project Plans, and all applicable standards and regulations, including then -current
(vi) Site SpecifleDevelopment Platt. As to the matters vested under this
Agreement and the Project Plans, including any future final plats that are approved
by the County for the various phases of the Project, shall be considered a site -
specific development plan for the purposes of the Statute and Sections 1-201 and 1-
202 of the LUR. The following statement is provided to satisfy the requirements
of Section 4-502(H)(2) of the LUR:
Approval of this plan shall create a vested property right pwsuant to
article 68 of title 24, C.R.S. as amended.
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(d) Term of Vested Rights. In recognition of the size of the Project
contemplated by tills Agreement and the Project Plans, the time required to complete the
Project, thoneed to proceed in phases, and varying economic cycles and market conditions
likely to occur during the course of development of the Project, the County agrees that the
rights identified as vested rights in this Section 3 shall be vested for a period of fifteen•
(15) years from the effective date of the County's approval of this Agreement.
Notwithstanding the foregoing, the County shall not grant any further extension to
the term of the vested rights granted for the Project.
(e) Adoption, Notice and Effective Date. The County has adopted this
Development Agreement as a legislative act subject to referendum, as required by C.R.S.
§ 24-68-104(2). As set forth in and required by C.RS. § 24-68-103(c), within 14 days from
the datehereof, the County shall cause to bepublished in a newspaper ofgeneral circulation
witldrr the County, a notice advising the general public ofthe approval of thePhase 1 Final
Plat as a Site SpecIficDeveloprnentPlan and the creation of vested property rights pursuant
to this Development Agreement and CAS. §§ 24-68-101 et. seq. The effective date of the
County's approval of this Development Agreement shall be the date of said publication
4. No Obligation to Develop. Notwithstanding anything to the contrary contained in
this Agreement and the Project Plans, Developer shall have no obligation to develop all or any
portion of the Property, except as set forth in the Subdivision Improvements Agreement for Phase
I as the same may be amended. In the event Developer does not commence development ofPhase
2 within the time frame set forth in the Phasing Plan and described below, the terms of this Section
4 shall apply.
(a) In accordance with the Phasing Plan, the date for start of construction for
Phase 1 shall be April 2014. Therefore, according to the Phasing Plan. the start of
construction for Phase 2 must commence by April 2022.
(b) At any time before April 1, 2022, the Developer may notify the County and
the HOA of its intent not to proceed with the development of Phase 2 and subsequent
phases. In such event, the Developer may withdraw the Project Plans in accordance with
the procedure in Section 12-103(B) of the LUR.
In the alternative, the County and Developer agree that the Developer shall
County an application for approval of a final plat for Phase 2 on or before March 31, 2022,
by notice to the Developer and the lIOA.
(d) As soon as practicable after the effective date of the withdrawal of the
Project Plans described in Section 4(b) above, or the violation of the PhasingPlan described
in Section 4(c) above, the Developer may undertake and the County will consider the
procedures necessary to return the Property to the configuration that existed prior to the
approval of the Phase 1 Final Plat, in accordance with the procedures set forth in 30-28-
139, C.R.S. and Section 12-106 of the LUR. As part ofsuch process and immediately upon
request of the Developer, the HOA shall convey tho HOA Property to Developer, by good
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and sufficient general warranty deed, free and clear of all liens and encumbrances,
Concurrently therewith, if requested by the Developer, the County shall undertake the
procedures necessary to rezone the Property from PUD to a zone district that meets the
requirements of law. Nothingin this Agreement shall be construed to require any particular
action by the BOCC on any such rezoning request.
(e) Completion of the procedures described in Section 4(b) and (d) above,
including any appeals thereof, snail constitute a forfeiture of the vested rights set forth in
this Agreement. In such event, the County may memorialize the forfeiture of the vested
rights set forth in this Agreement byresolution or other appropriate vehicle. In such event,
the Developer waives any right to notice and hearing pursuant to Section 12-103(F) and
waives all rights pursuant to Section 12-107 of the LUR.
(I) In addition to undertaking the procedures set forth in this Section 4, the
County reserves all of its rights, including but not limited to rights of enforcement, at law
or in equity with respect to the Project Plans, and including but not limited to the right to
enforce the terms of this Agreement or forfeit the rights conferred by this Agreement in
accordance with law. Except as expressly set forth in this Section 4, the Developer reserves
all of its rights at law or in equity with respect to the Project Plans and any action of the
County with respect thereto, including but not limited to the right to enforce the terms of
this Agreement.
S. Saverability. If any provisions or parts of this Agreement arejudged unenforceable
or invalid, to the extent practicable, such judgment shall not affect, Impair, or invalidate the
remaining parts of this Agreement, the intention being that the various parts and provisions hereof
are severable.
6. Recording of Agreement. This Agreement shall be recorded with the Garfield
County Clerk and Recorder at Developer's expense and shall be a covenant running with and
against all thoproperty, propertyrights, and improvements contained within the Property described
in Exhlbits 1 and 2, in order to putprospective owners, purchasers, successors, assigns, and others
acquiring any interest in the Property on notice as to the terms and obligations herein.
7. BindingEffect, Unless otherwise provided herein, this Agreement shall be binding
upon Developer's heirs, successors, assigns, transferees, and any other person or entity acquiring
or purchasing any interest in any of the Property.
8. Notice, Any notice to Developer or the County, which may be given under the
terms of this Agreement, shall be in writing and shall be deemed sufficiently given when sent
certified U.S. Mail and first class mail, postage prepaid, addressed as follows:
TO DEVELOPER:
Spring Valley Holdings, LLC
Attn: Stephanie Zimmerman
Seligman Western Enterprises, Ltd,
One Towne Square,
Suite 1913
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Jean Nlberloo
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Southfield, MI 48076
Phone:248-351-4876
TO THE HOA;
Spring Valley Ranch Community Master Association, Inc.
Attn: Stephanie Zimmerman
Seligman Western Enterprises, Ltd.
One Towne Square,
Suite 1913
Southfield, MI 48076
Phone:248-351-4876
TO THE COUNTY:
Garfield County Board of County Commissioners
Attn: Community Development Director
108 Eighth Street, Suite 401
Glenwood Springs, CO 81601
Phone: 970,945,8212
Fax: 970.384.3470
The Parties shall provide notice of any change in the above -referenced information.
9. Applicable Law. This Agreement shall be construed and enforced In accordance
with the laws of the State of Colorado
10. Counterparts. This Agreement maybe executed in counterparts, each ofwhich will
constitute one and the same instrument.
IN WITNESS WHEREOF, and agreeing to be fully bound by the terms of this Agreement,
the Parties have set their hands below on this _ day of 2017,
DEVELOPER:
SPRING VALLEY HOLDINGS, LLC,
a Delaware Limited Liability Company
By. G
Name: Stephanie M. Zi erman
Its: LLC Manager
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HOA:
SPRING VALLEY RANCH COMMUNITY
MASTER ASSOCIATION
E
Name: Ste hanie M. Z' erman
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EXMIT1
DEVELOPER'S PROPERTY
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LEGAL DESCRIPTION OF DEVELOPER'S PROPERTY
A parcel of land located in Sections 14, 15,16, 20, 21, 22, 23, 26, 27. 28, 29, 32, 33, and 34,
Township 6 South, Range 88 West, Sixth Principal Meridian being more particularly described
as follows:
Beginning at the Northwest Comer of said Section 20 being a 2-inch Aluminum Cap (P.E.L.S,
5933), thence S 88°1608" E 2627.19 feet along the north line of said Section 20 to the North
Quarter Comer of said Section 20 being a 2-inoh Aluminum Cap (P.E.L.S. 5933), thence S
88° 15'48" E 2625.91 feet along the north line of said Seetion 20 to the Northeast Comer of said
Section 20 being a 2-1/2 inch GLO Brass Cap found in place said comer also being on the west
line of said Section 16, thence N 00*00' 14" W 2631.77 feet along the west tine of said Section
16 to the East Quarter Comer of Section 17, T. 6 S., R. 88 W., 6th P.M. being a 2-1/2 inch GLO
Brass Cap found in place; thence N 00008'04" W 340.70 feet continuing along the west line of
said Section 16 to the West Quarter Corner of said Section 16 being a 2-1/2 Inch GLO Brass Cap
found in place; thence N 00001'47" E 1047.99 feet continuing along the west line of said Section
16 to the southwest comer of a parcel of land described in Book 795, Page 980 in the office of
the Garfield County Clerk and Recorder; thence the following three courses along the boundary
of said parcel described in Book 795, Page 980:
1. thence N 89016'47" E 334.10 feet;
2. thence N 03035147" E 252.06 feet;
3. thence N 8802752" W 349.87 feet to a point on the west line of said Section 16;
thence N 00001147" E 977.15 feet along the west line of said Section 16 to the Northeast Comer
of said Section 17 being a 2-1/2 inch GLO Brass Cap found in place; thence N 00001'20" W
344.80 feet continuing along the west line of said Section 16 to the Northwest Comer of said
Section 16 being a 2.1/2 inch GLO Brass Cap found in place; thence N 89057'15" E 2703.26
feet along the north line of sold Section 16 to the North Quarter Comer of said Section 16 being
a 2-1/2 inch GLO Brass Cap found in place; thence N 890$7109" E 2637.87 feet continuing
along the north But of said Section 16 to the Northeast Comer of said Section 16 being a 2-1/2
inch GLO Brass Cap found in place; thence N 89*58117" E 2638.56 feet along the north line of
said Section 15 to the North Quarter Comer of sold Section 15 being a 2-1/2 inch GLO Brass
Cap found in place; thence S 89°59'36" E 1318.31 feet continuing along the north line of said
Section 15 to the west line of the NE1/4NEI/4 of said Section 15 being a Mach Aluminum Cap
(L.S. 15710) found in place whence the northeast comer of said Section 15 being a 2-1/2 Inch
GLO Brass Cep found in place bears S 8905936" E 1318.31 feet; thence S 00000,091, E 1312.36
fact along the west line of the NEl/4NE 1/4 of said Section 15 to the southwest cower of the
NEl/4NEi/4 of said Section 15 being a 3-InchAluminum Cap (L.S. 15710) found In place;
thence N 89*55146" E 1317.67 feet along the south line of the NEI/4NE1/4 of said Section 15 to
the southeast comer of the NEI /4NEI/4 of said Section IS being a 3-inch Aluminum Cap (L.S.
15710) found in place; thence S 89"58146" B 1320.64 feet along the north line of the
SWl/4NW1/4 of said Section 14 to the northeast comer of the SWl/4NW1/4 of said Section 14
being a 3-inch Aluminum Cap (L.S. 15710) found in place; thence S 00"0114" W 1312.94 feet
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along the east line of the SWI/4NW1/4 of said Section 14 to the southeast comer of the
SWl/4MA of said Section 14 being a 2-inch Aluminum Cap (P.E.L.S. 5933); thence S
0000111911 E 2647.58 feat along the cast -line of the Wl/2SW1/4 of said Section 14 to the
southeast comer of the W1/2SW 1/4 of said Section 14 being a 2-inch Aluminum Cap (P.E,L.S.
5933); thence S 89059'4011 E 1318.59 feet along the north line of said Section 23 to the North
Quarter Comer of said Section 23 being a 2-1/2 inch GLO Brass Cap found in place; thence S
00005123" E 5277.46 feet along the oast line of the W 112 of said Section 23 to the South Quarter
Comer of said Section 23 being a 2-1/2 inch GLO Brass Cap found in place; thence S 00e00'49"
W 5529.94 feet along the east line of the WI/2 of said Section 26 to the South Quarter Comer of
said Section 26 being a 2-1/2 inch GLO Brass Cap found in place; thence S 84159'30" W 31.37
foot along the south line of said Section 26 to the North Quarter Comer of Section 35, T. 6 S., R.
88 W., 6th P.M., being a 2-1/2 inch GLO Brass Cep found in piece; thence S 8404111 S" W
1292.34 feet along the south line of said Section 26 to the southeast comer of Lot 14 of said
Section 26 being a 2-inch Aluminum Cap (P.E.L.S. 5933); thence N 00'2113711 E 372.49 feet
along the east line of said Lot 14, Section 26 to the northeast corner of said Lot 14 being a 2-inch
Aluminum Cap (P.E.L.S. 5933); thence N 89*53131" W 1611.72 feet along the north line of said
Lot 14 to the northwest comer of said Lot 14 being a 2-inch Aluminum Cap (P.E.L.S. 5933);
thence S 00000'14" W 525.17 feet along the west line of said Lot 14 to the Southwest Comer of
said Section 26 being a 2-1/2 inch GLO Brass Cap found in place; thence 89°14'59" W
2647.44 feat along the south Una of said Section 27 to the South Quarter Comer of sold Section
27 being a 24/2 inch GLO Brass Cap found In place; thence N 89e17'11" W 1319.72 feet along
the north line of said Section 34 to the northeast corner of the W 1/2NW i/4 of said Section 34
being a 2-inch Aluminum Cap (P.E.L.S. 5933) whence the Northwest Comer of said Section 34
being a 2-1/2-inch GLO Brass Cap found in place bears N 89e17'1l" W 1319.72 feet; thence S
0000515811 E a distance of 2333.81 feet to a point on the northerly right-of-way of Garfield
County Road 115; thence the following three courses along the northerly right-of-way of said
County Road 115:
1. thence 235.33 feet along the arc of a non tangent curve to the right having a radius of
639.07 feet, a central angle of 21 e05'53", and the chord beans N 67017' 16" W a distance
of 234.00 feet;
2. thenco N 56e44'19" W a distance of 393.81 feet;
3. thence 166.52 feet along the arc of a tangent curve to the left having a radius of 310.00
feet, a central angle of 30"46'36", and the chord bears N 72e07137" W a distance of
164.$2 foot;
thence departing said Garfield County Road I IS N 1013555" W a distance of 486.06 feet;
thence S 84e55'34" W a distance of 563.88 feet; thence S 16e02'331' W it distance of 630.62 feet
to a point on the northerly right-of-way of said Garfield County Road 115; thened,the following
thirty courses along the northerly right-of-way of said County Road 115:
1. thence 168.86 feet along the arc of a non tangent curve to the right having a radius of
2141.07 feet, a central angle of 04e31107", and the chord bears S 89" 13'00" W a distance
of 168.81 feet;
2. thence 1$9.12 feet along the arc of a tangent curve to the right having a radius of 170.00
feet, a central angle of 53137'43", and the chord bears N 6194213511 W a distance of
153.37 feet;
3. thence 460,26 feet along the are of a tangent curve to the right having a radius of 699.53
feet, a central angle of 37e41'54", and the chord bears N 16102147" W a distance of
452.01 feet;
4. thence N 02048110" E a distance of 238.01 feet;
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5. thence 429.79 Feet along the are of a tangent curve to the left having a radius of 912.82
Feet, a central angle of 26°58'38", and the chord bears N 10141109" W a distance of
425.83 feet;
6. thence N 24010127/1 W a distance of 644.62 feet;
7. thence 504.76 feet along the arc of a tangent curve to the left having a radius of 809.79
feet, a central angle of 35°42'49", and the chord bears N 42001152/1 W a distance of
496.63 feet;
8, thence N 59053117/1 W a distance of 459.39 feet;
9. thence 167.17 feet along the arc of a tangent curve to the right having a radius of 370.00
feet, a central angle of 2505YI I ", and the chord bears N 4615642" W a distance of
165,75 feet;
10. thence N 34e00'06" W a distance of 1152,91 feet;
11. thence 1191.15 feet along the arc of a tangent curve to the right having a radius of
2377.42 feet, a central angle of 28e42124", and the chord bears N I9°38'54" W a distance
of 1178.73 feet;
12. thence 245.56 feet along the arc of a tangent curve to the left having a radius of 430.00
feet, a ceatrai angle of 32°43'14", and the chord bears N 21039119/1 W a distance of
242.24 feet;
13. thence 376.29 feet along the arc of a tangent curve to the right having a radius of 1361.75
feet, a central angle of 15°49'57", and the chord bears N 30e05'57" W a distance of
375.10 feet;
14. thence N 2201058" W a distance of 307,62 feet;
15. thence 580.97 feet along the an of a tangent curve to the loft having a radius of 654.56
feet, a central angle of 50*5111$1, and the chord bears N 4793636" W a distance of
562.09 feet;
16. thence N 7300211411 W a distance of636.67 feet;
17. thence 351.46 feet along the are of a tangent curve to the right having a radius of 766.12
feet, a central angle of 26°17'03", and the chord hears N 5905342" W a distance of
348.38 feet;
18. thence N 46e45'10" W a distance of 235.64 feet;
19. thence 18 t.70 feet along the arc of a tangent curve to the left having a radius of 407.41
feet, a central angle of 25133'14", and the chord bears N 59031147" W a distance of
180.20 feet;
20. thence N 72018124" W a distance of 432.60 feet;
21. thence 264.71 feet along the.arc of a tangent curve to the right having a radius of 420.00
feet, a central angle of36006'40", and the chord bears N 54915104" W a distance of
260.35 feet;
22. thence 202.78 feet along the arc of a tangent curve to the right having a radius of 933.47
feet, a central angle of 1202647", and the chord bears N 201SV2111 W a distance of
202.38 feet;
23. thence N 2304415711 W a distance of 73.66 feet;
24. thence 691.16 feet along the are of a tangent curve to the left having a radius of 1111.34
feet, a central angle of 35038'00", and the chord bears N 41e33'57" W a distance of
680.07 feet;
25. thence N 59022157/1 W a distance of 217.30 feet;
26. thence 332.51 feet along the arc of a tangent curve to the left having a radius of 930.00
feet, a central angle of 20e29'08" , and the chord bears N 6903713111 W a distance of
330.75 feet;
27. thence N 79052'OS" W a distance of 452.89 feet;
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Receptlontl: 694969
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28. thence 416.54 feet along the am of a tangent curve to the right having a radius of $288.82
feet, a central angle of 04130'45", and the chord bears N 77*36143" W a distance of
416.43 feet; .
29. thence 250.87 feet along the arc of a curve to the right having a radius of 5288.92 foot,
and a central angle of 02a43'04", and the chord bears N 73e59148" W a distance of 250.84
feet;
30. thence N 72038'16" W 1244.87 feet to a point on the accepted east line of Lot 4 of said
Section 20 whence the southeast corner of a parcel of land recorded under reception
number 467225 in the office of the Garfield County Clerk and Recorder being a 2-inch
Aluminum Cap (P.E.L.S. 5933) and accepted as a point on the east line of said Lot 4
bears S 01a51'02" W 0.41 feet;
thence N 01051102116 490.79 feet along the accepted east line of said Lot 4 to the northeast
corner of said Lot 4 being a 2-inch Aluminum Cap (P.E.L.S. 5933); thence N 88018152/, W
1429.59 feet along the north line of said Lot 4 and Lot 3 of said Section 20 to the northwest
comer of said Lot 3 being a 2-inch Aluminum Cap (P.E.L.S. 5933) whence the Southwest
Comer of said Lot 20 being a 2-1/2 inch Aluminum Cap (P.L.S. 27929) found in place bears S
00006131" E 1008.11 feet; thence N OV06'31" W 1630,93 feet along the west line of said
Section 20 to the West Quarter Comer of said Section 20 being a 2-inch Aluminum Cap
(P.E.L.S. 5933); thence N 00*W12" E 2632.88 feet along the west line of said Section 20 to the
Northwest Corner of said Section 20 being the POINT OF BEGINNING containing 5198.85
acres more or less, prior to the following excepted parcel:
EXCEPTING THE FOLLOWING PARCEL:
Section 15 Exceptiont
A parcel of land being the Northwest Quarter of the Southwest Quarter of Section I S, Township
6 South Range 88 West, of the Sixth Principe! meridian, said parcel being further described as
follows:
Beginning at the West Quarter comer of said Section 15 being a 2-I/2 inch GLO Brass Cap
found in place, thence N 89a51'07" B 1323.59 feet along the North line of the NW IASW 1/4 of
said Section 15 to the northeast comer of the NW I/4SW 1/4 of said Section 15; thence S
00001149" E 1540.50 feet along the East line of the NW 1/4SW I/4 of said Section 15 to the
Southeast Comer of theNW1/4SW1/4; thence S 89a58'25" W 1323.$9 feet along the south line
of the NW I/4SW1/4 of said Section 15 to the southwest comer of the NWl/43Wi/4 of said
section 15; whence the Southwest Comer of said Section 15 being a 2-1/2 inch GLO Brass Cap
found in place bears S 00*01149" E 1537.70 feet; thence N 00/01149/1 W 1537.70 feet along the
west line of the NWl/48W!/4 of said section 15 to the northwest comer of the NWl/4SW1/4 of
said section 15 being the POINT OF BEGINNING containing 46.76 acres more or less.
The total area minus the exception parcel is 5,1$2.09 sores more or less.
ALONG WITH:
A parcel of land located in Sections 33 and 34, Township 6 South, Range 88 West, Sixth
Principal Meridian being more pattioularly described as follows:
Beginning at the Quarter Comer common to said Sections 33 and 34 being a 2-inch Aluminum
Cap (P.E.L.S 5933) thence N 88027145" W a distance of 551.40 feet along the south line of the
NEl/4 of said Section 33 to a point on the southerly right-of-way of Garfield County Road 114;
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Reception": 9949a9
07/19/2017 12t17t 0
6 PM Joan Hlheriao
14 of 15 Reo Fee:$0.00 Doo Fee:0.00 OnRFIELD COUNTY CO
thence along the southerly right-of-way of said Garfield County Road 114 the following two
courses:
1. thence N 40e27'03" E a distance of 70,18 feet;
2. thence 388.21 feet along the are of a tangent curve to the right having a radius of 470.00
feet, a central angle of 47019'32", and the chord bears N 64/0614911 E a distance of 377.27
feet to a point on the southerly right-of-way of Garfield County Road 115;
thence the following four courses along the northerly right-of-way of said Garfield County Road
115:
1. thence 766.87 feet along the are of a tangent curve to the left having a radius of 2201,07
feet, a central angle of 19°57144", and the chord bears N 77°4714311 E a distance of 763.00
feet;
2. thence 241.93 feet along the arc of a tangent curve to the right having a radius of 250.00
feet, a central angle of 55026'50", and the chord bears S 8402714411 E a distance of232,60
feet;
3. thence 8 56044119/1 E a distance of 393.81 feet;
4. thence 270.44 feet along the are of a tangent curve to the left having a radius of 699.07
fbet, a central angle of 22°09'54", and the chord bears S 67*49116" E a distance of 268.75
feet to a point on the east line of the Wl/2NW1/4 of said Section 34;
thence S 00/0515811 E a distance of 50.95 feet along the east lane of the Wl/2NW1/4 of said
Section 34 to the southeast comer of the W I/2NW 1/4 of said Section 34 being a 2-inch
aluminum cap (F.E.L.S 5933); thence S 89051139" W a distance of 1389.27 feet along the south
line of the W1/2NW1/4 of said Seotion 34 to the point of beginning; containing 10,95 acres more
or less.
The combined area of the above described two parcols and excluding the five exception parcels
Is 5,163.04 acres more or less,
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Receptronfl: 894969
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16 of 16 Reo FIee�$0.00 DOG .00 GARFIELD COUNTY CO
EXHIBIT 2
HOAPROPERTY
• OSP Parcel A
• OSP Parcel II
• OSR Parcel A
• OSR Parcel 13
of Phase 1, Spring Valley Ranch PUD, Garfield County, Colorado, according to the Amended
Plat thereof filed with the Garfield County Recorder as Reception No. 828064
10