HomeMy Public PortalAboutResolution 2009-03-04 Approving the First Amendment and Supplement to the Subdivision Improvement Agreement for the Village at Grand Park Filing 1 (General Store)
TOWN OF FRASER
RESOLUTION NO. 2009-03-04
A RESOLUTION APPROVING THE FIRST AMENDMENT AND SUPPLEMENT TO THE
SUBDIVISION IMPROVEMENT AGREEMENT FOR THE VILLAGE AT GRAND PARK FILING
1 (GENERAL STORE)
WHEREAS, Grand Park Development and the Town of Fraser had previously entered
into a Subdivision Improvement Agreement and desire to make amendments to said agreement,
and
WHEREAS, the Fraser Board of Trustees has reviewed the First Amendment and
Supplement to the Subdivision Improvement Agreement and determined the agreement to be in
the best interest of the Town of Fraser.
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF
FRASER, COLORADO THAT:
1, That the Town Board of Fraser, Colorado hereby authorizes the Mayor to enter in the
First Amendment and Supplement to the Improvement Agreement as attached to this
resolution after payment of any outstanding fees.
2. Upon provision of a replacement letter of credit in a form acceptable to the Town for the
cash funds as required by paragraph 5 of the amendment, the cash funds will be
released to Grand Park Development.
3. This amendment must be executed within sixty days of the effective date of this
resolution or this approval is no longer valid.
READ, PASSED ON ROLL CALL VOTE, AND ADOPTED BY THE BOARD OF TRUSTEES
THIS 4th DAY OF MARCH, 2009.
Votes in favor: "1
Votes opposed: ~
Absent: ~
Abstained: ~
BOARD TRUSTEES OF THE
TOWN OF FRASER, COLORADO
BY: ~~\ ~
Mayor
(S E A L)
ATTEST:
dVC&A1f^
Town Clerk ~
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FIRST AMENDMENT AND SUPPLEMENT TO
SUBDIVISION IMPROVEMENTS AGREEMENT FOR
THE VILLAGE AT GRAND PARK - FILING 1 (GENERAL STORE)
This AMENDMENT AND SUPPLEMENT TO SUBDIVISION IMPROVEMENT
AGREEMENT (this "Amendment") is made as of M~ Y ,2009, by and between
GRAND PARK DEVELOPMENT LLC, a Colorado limited liability company ("Developer"),
and the TOWN OF FRASER, a municipal corporation of the State of Colorado ("Fraser").
RECITALS
This Amendment is made with reference to the following facts:
A. Developer and Fraser previously executed a Subdivision Improvements
Agreement pertaining to certain required improvements for the subdivision known as The
Village at Grand Park - Filing I (Gcneral Store), which Agrcement was recordcd in the Grand
County rcal estate records on August 13, 2008 at Rcception No. 2008007835 (the "Improvcment
Agreement"). Capitalized terms defined in the Improvement Agreemcnt shall have the samc
meaning when used in this Amendment.
B. Developer and Frascr desire to confimJ their understanding and agrccmcnt
regarding thc improvements covered by such Improvement Agreement, the status of completion
and acceptance of various Improvements, the amount of the Perfoffi1ance Guarantee required at
this stage of the project, and certain other matters, as set forth hereinbelow.
AGREEMENT
NOW, THEREFORE, in consideration of the premises and the mutual covenants
and agreements provided herein, Fraser and Developer agree as follows:
1. Section 2 of the Improvement Agreement and Exhibits B, C and D refcrrcd to
thcrein shall be amended with regard to the description of the Improvements covered by the
lmprovcment Agreement, in the following particulars:
(a) There shall be added to such Improvements what are commonly referred to as
the Village Off-Site Water and Stom1 Sewer Improvements, which are more specifically
descrihed as the water and stonn sewer improvements included in the High Country
Engineering, Inc. construction plans titled "Construction Plans, Town Ccnter at Grand
Park" signed and sealed on October 13, 2006 and approved by the Town of Fraser on
October 20, 2006, less those water and storm sewer improvements included within The
Village at Grand Park - Filing 1 (General Store) Subdivision Improvement Agrcement
Exhibit B Public Improvements Description and Cost Estimate (Reccption #
2008007835, dated August 13, 2008) and The Village at Grand Park - Filing 2A
Subdivision Improvement Agreemcnt Exhibit B Public Improvements Description and
Cost Estimate (Reccption # 2008007841, dated August 13,2008).
Amended Exhibits B, C and D are attached hereto and incorporated herein by this reference.
2. The parties agree that the following Improvements have been substantially
completed for more than one (I) year and arc hereby approved for final acccptance by Fraser,
notwithstanding the fact that certain documentation required for preliminary acceptance was only
recently provided due to misunderstandings by the parties:
(a) Village Filing 1 Water and Storm Sewer improvements;
(b) Village Off-Site Water and Storm Sewer improvements (as describcd in
Subparagraph I (a) above).
3. The parties further agree that the Village Filing 1 Roadways, Phase 1, as
described in the January 19, 2009 letter from Carroll & Lange, are approved for preliminary
acceptance, effective February 3, 2009; excepting, however, the incomplete items referred to in
said Carroll & Lange letter and the memo from the Town Engineer to Allen Nordin, dated
January 13,2009, which items shall be completed no later than October 31,2009.
4. The following Improvements covered by the Improvement Agreement have not
been completed and/or have not yet met all additional requirements for preliminary acceptance:
(a) Remaining roadway improvements;
(b) Striping;
(c) Revegetation/Erosion Control;
(d) Off-Site Pond Liner.
5. In consideration of the status of the various Improvemcnts, as outlined above,
Fraser approves a reduction in the amount of the Performance Guarantee required pursuant to the
tenns of the Improvement Agreement, and the revised amount is set at $43,015. Developer shall
provide an amended or replacement letter of credit in that amount, in a form and content
acceptable to Fraser, concurrent with the execution of this Amendment by the parties.
6. Notwithstanding the provisions of Section 5.2 of the of the Improvement
Agreement, the parties agree that the affidavit(s) of payment and lien waivers required prior to
preliminary acceptance may be conditioned upon subsequent payment of a reasonable retainage
after preliminary acceptance, to assure completion of any necessary corrective work during the
warranty period. A final affidavit(s) of payment and final, unconditional lien waivers shall be
submitted prior to final acceptance of the Improvements.
7. The parties agree that, upon execution of this Amendment, all existing defaults or
alleged defaults under the tenns of the Improvement Agreement or under any other Subdivision
Improvement Agreement pertaining to Grand Park have been cured or are waived, and each
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party releases the other party from all claims and demands relating to any such defaults. By
signing this Amendment, neither party admits to any such default; but rather it is the parties'
intent to fully resolve all disputes relating to their improvement agreements upon the terms
contained herein.
8. Except as specifically amended and supplemented herein, all provisions of the
Improvement Agreement shall remain unchanged and in full force and effect.
9. This Amendment may be executed in one or more counterparts, eaeh of whieh
will be deemed to be an original, and all such counterparts taken together will constitute one and
the same instrument.
IN WITNESS WHEREOF, Fraser and Developer have executed this Amendment
as of the day and year first set forth above.
DEVELOPER:
GRAND PARK DEVELOPMENT LLC, a
Colorado limited liability company
By:
C. Clark Lipscomb, President
STATE OF COLORADO
COUNTY OF
)
) ss:
)
The foregoing instrument was acknowledged before me this
2009, by C. Clark Lipscomb, as President of GRAND
DEVELOPMENT LLC, a Colorado limited liability company.
Witness my hand and official seal.
My commission expires:
day of
PARK
Notary Public
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FRASER:
TOWN OF FRASER, a municipal corporation of
the State of Colorado
By:
~~~
Fran Cook, Mayor
STATE OF COLORADO
)
) ss:
)
COUNTY OF GRAND
The foregoing instrument was acknowledged before me this Th day of
IY\iVl..c:;t \ ,2009, by Fran Cook as Mayor of the Town of Fraser, a municipal
corporation of the State of Colorado.
Witness my hand and official seal.
My commission expires: 03/0'0 )20\ 2. .
Notary Public
~g.~~
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