HomeMy Public PortalAboutOrdinance 496 Developement Improments AgreementTOWN OF FRASER
ORDINANCE NO. 496
Series 2023
AN ORDINANCE AMENDING CHAPTER 19 OF THE FRASER MUNICIPAL CODE
REGARDING THE DEVELOPMENT IMPROVEMENTS AGREEMENT
WHEREAS, the Board of Trustees has determined that it is in the public' s
interest to establish rules and regulations relating to development and acceptance of
infrastructure
WHEREAS, the acceptance process has been identified as a Town priority and
streamlining the process is needed
NOW THEREFORE, BE IT ORDAINED BY THE BOARD OF TRUSTEES OF THE TOWN OF
FRASER, COLORADO, THAT:
PART 1: AMENDMENT OF MUNICIPAL CODE.
Chapter 19, of the Fraser Municipal Code (herein sometimes referred to as the "Municipal
Code") are hereby amended as follows [Note: additions are shown in bold underlined print;
deletions are shown as st+kehre print]:
Chapter 19
Sec 19-2-110 Site plan; major and minor
(f)
(4) Construction Performance guarantees. The conditions may require the
deposit of certified funds with the Town, the establishment of an escrow fund,
the deposit of an irrevocable letter of credit, the posting of a bond or other
surety or collateral (which may provide for partial releases), to ensure that all
construction features included in the application or required by the terms of the
site plan approval are provided as represented and approved. The Town will
consider and may also require a monetary guarantee ensuring that the site will
be revegetated to its original condition if the project is abandoned after
construction has commenced. Such construction guarantees shall be secured
by a Construction Guarantee Agreement Development Improvements
Agreement (DIA); a form for which is provided in Appendix 43.
Sec. 19-3-410. Subdivision-km-prevenient agreement Development Improvements
Agreement required.
The subdivision improvements agreement (SIA) Development Improvements Agreement
(DIA) is a written contract between the Town and the applicant providing for construction of
the required improvements, with collateral security to guarantee completion of such
improvements as provided in these regulations. No subdivision plat shall be signed by the
Town or recorded in the office of the Grand County Clerk and Recorder, and no building
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permit shall be issued for any subdivision or development with required improvements, until a
SIA DIA between the Town and the applicant has been executed. Such agreement shall
include a description of required on -site and off -site improvements, an estimate of the cost of
such improvements, the form of guarantee for the improvements and any other provisions or
conditions deemed necessary by the Board of Trustees to ensure that all improvements will
be completed in a timely, quality and cost-effective manner. A model SIA DIA is provided in
Appendix 3. The agreement shall be recorded in the office of the County Clerk and Recorder
and shall run with the land and bind all successors, heirs and assignees of the applicant.
Other agreements or contracts setting forth the plan, method and parties responsible for the
construction of any required improvements may also be required.
Sec. 19-3-425. - Guarantee required.
(a) Suitable collateral to ensure the completion of required improvements, as stipulated
in the SIA DIA, shall accompany the final plat submission. The collateral shall be no
less than one hundred twenty-five percent (125%) of the estimated costs of all
subdivision improvements. The collateral shall be in the form of a letter of credit, cash
deposit or other such legal assurance as may be approved by the Board of Trustees.
After preliminary acceptance, and with approval of the Board of Trustees, the
performance guarantee may be reduced to an amount not less than twenty percent
(20%) of the initial performance guarantee to guarantee performance during the
warranty period. A corporate surety warranty bond in that amount may be substituted
as the performance guarantee for the warranty period, provided that the applicant also
provides a cash deposit in the amount of five thousand dollars ($5,000.00) or ten
percent (10%) of the amount of the warranty bond, whichever is greater, as additional
security to the Town.
(b) No collateral drawn upon a company, bank or financial institutional having any
relationship to the applicant or any principal, director, officer or shareholder of the
applicant (other than the relationship of depositor or checking account holder) shall be
acceptable. The Town may reject any security for any reason.
(c) If collateral is provided in the form of a letter of credit or deposit arrangement that
includes an expiration date, the applicant shall provide evidence of extension of such
expiration or replacement of equivalent collateral in a form acceptable to the Town.
Failure to provide proof of such extension or replacement collateral no later than thirty
(30) days prior to the date of expiration shall be cause for the Town Staff to draw on
the collateral funds without the necessity of any notice of default or other notice to the
applicant. Funds withdrawn in this manner may be expended as necessary to correct,
repair and/or construct the required improvements or may be released upon provision
of replacement collateral in a format acceptable to the Town.
(d) The estimated cost of subdivision improvements shall be certified by a licensed
Colorado Professional Engineer. Construction of all subdivision improvements shall be
guaranteed pursuant to a SIA DIA, in the form attached as Appendix 3.
Sec. 19-3-430. - Time for completion.
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The time allowed for the completion of required improvements shall be as provided in the SIA
DIA; or, if no time for completion is specified in the SIA DIA for some or all required
improvements, such improvements shall be completed within two (2) years from the recording
date of the final plat or issuance of the development permit, whichever is applicable. The
Board of Trustees may extend such time for completion upon request from the applicant, for
good cause shown.
Sec. 19-3-440. - Construction phasing.
Inspection and preliminary acceptance of a portion of the required improvements in one (1) or
more phases of construction shall occur only if specifically provided for in the SIA DIA, or as
determined appropriate by Town Staff, at its discretion. Otherwise, all required improvements
shall be completed before preliminary acceptance will be granted. Any proposed phasing must
be logically related to the project as a whole and allow for the efficient integration of the
phased required improvements into the Town's infrastructure. The Town Staff may require
adjustments in previously approved phasing schedules when deemed necessary to
accommodate changed conditions or unforeseen circumstances.
Sec. 19-3-445 (b) and (e). — Preliminary Acceptance
(b) Inspection and preliminary acceptance. Upon satisfaction of these requirements
and subject to satisfaction of any additional requirements provided in these regulations
or the SIA DIA, the Town Staff or designated consultants shall inspect the completed
improvements within ten (10) business days of the applicant requesting said
inspection. If the Town's Staff or designated consultant finds that the specified
improvements have been completed substantially in accordance with the plans and
other requirements of the SIA DIA and these regulations, the Town Staff shall issue a
letter evidencing preliminary acceptance within ten (10) business days after the
inspection date. The Town shall not be required to make inspections during any period
when climatic conditions interfere with making a thorough inspection, as determined by
the Town representative making the inspection. If, upon inspection of the completed
improvements, the Town Staff or designated consultant finds that any of the
improvements have not been completed substantially in accordance with the plans and
other requirements of the SIA DIA and these regulations, the Town Staff or designated
consultant shall issue a written notice of deficiencies within ten (10) business days
after the inspection specifying which improvements have not been completed
substantially in accordance with the plans and other requirements of the SIA DIA and
these regulations. All deficiencies must be corrected within ten (10) business days of
the receipt of the notice of deficiencies. Such ten -business -day time limit may be
extended by the Town if the Town determines that such deficiencies cannot
reasonably be remedied within such ten -business -day period. The subdivider shall
then notify the Town in writing and request a follow-up inspection of the improvements,
and the foregoing provisions of this Paragraph (b) shall be applicable.
(e) Final acceptance shall take place within one (1) year two (2) years after
preliminary acceptance, which period may be extended by Town Staff for up to one (1)
additional year. While building permits may be issued for construction within the
subdivision prior to preliminary acceptance, no certificates of occupancy may be
issued unless and until all subdivision improvements have been preliminarily accepted.
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Sec. 19-3-450. - Warranty.
(a) Warranty. The applicant shall warrant that all required improvements shall remain
free from construction defects for a period of ene-(1)two (2) year from the date that
the Town preliminarily accepts the improvements as provided in these regulations and
the SIA-DIA. For landscaping improvements or other vegetation that will be dedicated
to the Town, the warranty period shall be two (2) years, and not in any event to be less
than two (2) full growing seasons. During such warranty period, any construction
defect determined to exist with respect to such required improvements shall be
repaired or the improvements replaced, at the Town's option, at the sole cost of the
applicant.
(b) Notice of default; cure period. Except as provided in Paragraph (c) below with
respect to emergency repairs, the Town shall provide written notice to the applicant if
an inspection reveals that any improvement is defective. The applicant shall have ten
(10) business days from the giving of such notice to remedy the defect. Such ten -
business -day time limit may be extended by the Town if the Town determines that
such defect cannot reasonably be remedied within such ten -business -day period. In
the event the applicant fails to remedy the defect within the ten -business -day period or
any extension thereof granted by the Town, the Town may utilize the collateral security
to correct the defect or exercise any other remedy provided in the SIA DIA. No notice
shall be required with respect to emergency repairs except as provided in Paragraph
(c) below.
(c) Emergency repairs. If at any time it appears that the improvements may be
significantly damaged or destroyed as a result of a bona fide emergency, an act of God
or due to construction failure, the Town shall have the right, but not the duty, to enter
upon the property and perform such repairs and take such other action as may be
reasonably required in the Town's judgment to protect and preserve the improvements.
The Town shall have no duty to inspect the property to identify emergency situations
which may arise. Prior to or concurrent with, or immediately following, taking any action
pursuant to emergency repairs, the Town shall make a reasonable effort to locate the
applicant and advise him or her of the existence and nature of the emergency. Upon
written demand, the applicant shall reimburse the Town for the costs of such
emergency repairs. Failure of the applicant to reimburse the Town for the costs of such
emergency repairs within fifteen (15) days after demand shall constitute a default
under the SIA DIA
Sec. 19-3-455 (3) and (5). - Final acceptance.
(3) The applicant has provided and the Town has reviewed and approved any and all
conveyance documents required pursuant to these regulations and the SIA PIA;
(5) All other applicable requirements contained in these regulations, the Town's
design and construction standards and the SIA DIA have been satisfied.
Sec. 19-3-460. - Acceptance for maintenance.
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At the end of the warranty periods and upon final acceptance of the improvements as
provided in this Division, the Town will assume all future repair and maintenance
responsibilities with respect to the accepted public improvements, if any. The Town will not
assume any responsibility for maintenance and repair of required private improvements, and
such responsibility shall remain with the applicant unless it is transferred to a homeowners'
association or other responsible person or entity in accordance with the approved subdivision
documentation.
(1) Release of collateral; security/performance guarantee; request for partial release.
The applicant may make periodic requests for the partial release of the collateral in
accordance with the provisions of this Subsection. All such requests shall be in writing
to the Board of Trustees, shall be for a reduction of at least twenty percent (20%) of
the total original performance guarantee, and shall correspond with a portion of the
required improvements that have been substantially constructed or installed in
accordance with these regulations and the SIA. No more than one (1) request for a
partial release of the performance guarantee may be submitted each month. No
reduction of the performance guarantee shall be allowed which would reduce the
amount of collateral to less than one hundred twenty-five percent (125%) of the
estimated cost of any remaining or incomplete improvements; and the final twenty
percent (20%) of the initial performance guarantee (which may be in the form of a
warranty bond and cash deposit, as provided in Section 19-3-245 above) may not be
released until all of the required improvements have been preliminarily accepted, the
one-year warranty period has run, the applicant has complied with all requirements
specified in these regulations and the SIA DIA and the improvements are finally
accepted by the Town. There shall be no reduction in the amount of the performance
guarantee if the applicant is in default under the STADIA.
(2) Town use of performance guarantee. Except as otherwise provided in the STADIA,
the Town may draw upon and utilize the collateral security to pay for the construction,
completion or correction of the required improvements or to restore and revegetate the
site in the event the applicant fails to timely perform the obligations provided in this
Section or is otherwise in default under the terms of the STADIA, Application of the
collateral may include covering such costs, including reasonable engineering and
attorney's fees, as are necessary for the Town to administer the construction and
correct, repair or complete the required improvements and to enforce the SIA and any
bond or other undertaking given as the performance guarantee.
(3) Conveyance of improvement other than by dedication on plat. As to any of the
improvements which have not previously been dedicated on the final plat of the
subdivision, such improvements, if designated and intended as public improvements,
shall be conveyed to the Town or other appropriate public entity, or if designed or
intended as private improvements, shall be conveyed to a homeowners' association or
other responsible entity approved by the Town. Such conveyance shall be made prior
to final acceptance of the improvements. Upon the determination of the Town's Staff
that such improvements have been satisfactorily completed and that acceptance of
such improvements by the Town is proper and in accordance with the provisions
herein, conveyance shall be made by general warranty deed (if real estate) or bill of
sale with full warranty of title (if personal property), free and clear of all liens,
encumbrances and restrictions (except for permitted exceptions as provided in the SIA
DIA), and the specific instrument of conveyance shall be acceptable as to form and
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substance by the Town Staff. Conveyances of fee title, easements or other real
property interests shall be accompanied by a policy of title insurance as required by
the Town's regulations, if applicable.
Sec. 19-3-465(b). - Waiver of requirements.
(b) Whenever it is deemed necessary by the Board of Trustees to defer the
construction of any subdivision improvements required because of incompatible
grades, future planning, inadequate or nonexistent connecting facilities, or for other
reasons, the applicant shall pay its share of the costs of the future improvements to the
Town prior to the Planning Commission and Board of Trustees signing the final plat, or
the applicant may execute a SIA DIA secured by collateral guaranteeing completion of
the deferred subdivision improvements upon demand of the Town.
Sec. 19-3-510. - Words and terms.
S Development improvements agreement (DIA)
means a written contract entered into by the Town and the applicant providing for and
describing conditions of approval for subdivision improvements to be constructed as part of a
subdivision development. It shall, at a minimum, set forth construction specifications for
required subdivision improvements, provide dates for completion of the improvements and
identify the terms and conditions for the acceptance of the improvements to the Town. It shall
also provide for such financial assurances as necessary to ensure the proper and timely
installation of improvements.
BETWEEN
AND
(NAME OF SUBDIVIDER)
(NAME OF SUBDIVISION)
CI BDIVISION IMERM/CIIACAITC Af_CCCIIACAIT
("Subdivider"). This SIA shall be effective following execution by the subdivider
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(b) As built engineering drawings for the required Improvements, in accordance
{c) All test reports and logs rc
acceptance is requested, subject to any retainagc withheld from thc contractor or
5.3
Upon satisfaction of these
nonnultant(s) shall i et tho plotod Im non within to (10) h.
vv, wunu, n�o� onus n o�eva a aa. vvn�patiaw
days after receipt of thc request fer inspection. If the Town's staff or designated
eensuftanye-)-fiee-s-that-th-e-speeified-imprevernents have been completed
Preliminary Aeeeptance within ten (10) business days after the in option date
climatic c nditionn interforo with
If, upon inspection of the completed Improvements, the Town staff or designated
Subdivision Regulations. All deficiencies must be corrected within ten (10)
business days of the receipt of the notice of deficiencies. Such ten business day
tinie-l-imit-may-be-exteedecl-by-the-Tewn-if-the—Tewn-deten*Res411-at-euell-
deficiencies cannot reasonably be remedied within such ten business day period.
5-4 Effe t •f Prelimina Acce•tanc Preliminary acceptance of all or any portion of
on the Performance G„arantee to remedy any defeat in r fail r of the
the
operation of all public water, sanitary sewer and storm water improvements, if
applicable, and for snow removal on accepted public streets. At the Town's
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No certificate of occupancy may be Lsucd for a structure on any lot, parcel or
tract served by thc Improvements until such Improvements have been completed
and preliminarily accepted as provided in this Section 5.
Warranty.
64 Warranty. Subdivider shall warrant that all Improvements shall remain free from
construction defects for a period of one (1) year from the date that the Town
prcliminaril„ pts the Improvements as provided in Section 5 of this SIA. For
landscaping improvements or other vegetation that will bc dedicated to thc town,
the warranty period shall be two (2) years, and not in any event to be less than
defect determined to exist with respect to such Improvements shall be repaired
gubdivider-s-h-a44-maintai-n•Fn-a-Feasen-ab-lesti-itable-affd-proper-cenditien-fer-
travel, ingress, and egress, all streets located within thc Subdivision until such
..h p ,ate strccts a cptcd for ntcnancc by thn homcowncrs
6.2
N-etiGe-ef-Defat tlf-e-laerie€ E--xse-pt-as-provided-in-Subsection-6,3-with-
respect to emergency repairs, the Town shall provide written notice to Subdivider
if inspection reveals that any Improvement is defective. Subdivider shall have
ten (10) business days from the giving of such notice to remedy the defect. Such
ten businene day time limit may
that such defect cannot reasonably be remedied within such ten business day
period In the c nt S hdivi.dcr foils to r cd y the dcfeet within the ton
business day period, or any extension thereof granted by thc Town, thc Town
may the utilize the collateral security to correct thc defect or exercise any other
remedy provided in this SIA without further notice. No noticc shall bc required
with respect to emergency repairs except as provided in Subsection 6.3.
6.3 Em -r. -nc R -.airs. If at any time it appears that the Improvements may be
of god, or due to construction failure, the Town shall have the right, but not thc
action as may be r asonably required in the Town's judgment to protect and
preserve the Improvements. The Town shall have no duty to inspect thc
with, or immediately following taking any action pursuant to emergency repairs,
the Town shall make a reasonable effort to locate Subdivider and advise it of the
reimburse the Town for the costs of such emergency repairs. Failure of
Subdivider to pay to the Town the costs of such emergency repairs within fifteen
(15) days after demand shall constitute a default as provided in Subsection 13.H
of this SIA.
6-4 Final Inspection. Approximately sixty (60) days prior to the expiration of thc
warranty period, Fraser shall notify Subdivider in writing and schedule a final
inspection/walk through.
10
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84 (`o pli n with I bdiv„der shalmeomply with allrelevant laws orvmanees
and-regulatteasAh-effeet-at-the-tiele-ef-final-plat-appreval-when-fuifil-tihg-ite-
obligations under this SI .
0-4
Ded-ieatieh-en-PW,—Subctivider-shatl-ctedieate-suell-ef-the-imprevemehte-as-aFe-
designed or intended as public Improvements, by appropriate language on the
facc of thc final plat of thc Subdivision. Such dedication shall be made free and
clear of all liens mhra ees and restrictions ept for thy, p mitts d
those
1-9 Performance Guarantee.
10.1
Amount and
with the Town's approval, is $ (See thc attached Exhibit B).
Pur-suaRt-te-the--Tewills-sebeivisien-regutatier tivideFi-s-Fee-air-ed-te-fufRiell-
eellatefal-te-ensure-eempletien-ef-the4Feerevements74h-an-anleent-Ret-less-then-
onc hundred and twenty five percent (125%) of thc estimated costs of all
in Section 6.1 ("Performance Guarantee
()
()
An irrevocable Letter of Credit i; ucd by a qualified Colorado lending
institution acceptable to the Town in thc amount of $ , a copy
A cash deposit in the amount of $
() Other such legal assurance as may be deemed-apprephate-by-the-Tewh-
ahe-appreved-by-the-Beard-ef-Trustees,
10.2 U..c of Performance Guarantee. Subject to the terms of this SIA, the Town may
completion or correction of thc required improvements or to restore and
revcgetatc the site in thc event Subdivider fails to timely perform thc obligations
er-evicled-iwthis-SIA-all-Et-the-TewWs-subctivisten-regulatiene-er--ie-etherwise-ih-
istefautt-under-the-terfas-ef-thie-STA,4pplisatien-ef-the-Refferfhaftee-Guafahtee-
may-iheltHste-eovering-euell-eestsineluding-reasehable-ehg-iheerthThand-
atterneys-feesr
correct, repair or complete SIA
12
or replacement of equivalent collateral in a form acceptable to the Town. Failure
to-pfeivide-pfAef-ef-sueh-extension-dir-Feptademen-t-c-oliater-al-holater-thon-thifty-
{30) days prior to thc date of expiration shall be cause for the Town Manager or
his or her designee to draw on the Performance Guarantee without the nece:ity
of-any-notic-e-of-default-or-dither-netioe-te-Sobdividen—Funds-withdrawn-in-this-
manner may be expended as necessary to correct, repair and/or construct the
Impfeveroefits-or--may-be-Felea-sed-open-pfevioion-of-feolooement-c-ellateral-in-a-
format acceptable to the Town.
Rel ase of Performance Guarantee.
Requests #or Partial Release of Performance Guarantee. Subdivider may make
periedio-cequests-for-the-p-aftial-Felease-of-the-ReFrOFFIR-aRGe-Guafantee-in-
accordance with the provisions of this Subsection 11.1. All such requests shall
be in writing to the Town Board, shall be for a reduction of at least twenty percent
peFtion-of-the-imprevenhents-that-have-been-substantially-defistfusted-or-in-stailed-
in accordance with this SIA. No more than one request for a partial release of
the Performance Guarantee may be submitted each month. No reduction of thc
nllotoral to Inns than o c h n dred twcnt y fiy tho ectimotcd
vvnu w�u� av �a.vv uian viia.. rruaavr
Improvements have bo clim'n ril y n opted the one a my n nd
����r�vr..���...��ati ��ar„a. �.,a.e;; �r...n�r���ac"a�ray crvcc ���r,.,�rrr, on
hereof and the Improvements are finally accepted by the Town. There shall be no
under this SIA.
11.2 Warranty Bond. After preliminary acceptance, and with approval of the Board of
0
peFfefmanoe-d-unng-t•ho-wa-Fr-anty-pofie oor-porote-su-r-ety-war-ranty-boFid-i-n-
that amount may be substituted as the performance guarantee for the warranty
period, provided that the applicant also provides a cash deposit in the amount of
0
12.
Payment In Lieu of Dedications. Subdivider agrees to make any and all payments in lieu
of dedications prior to the Town's execution
13. Default. The following conditions, occurrences or actions shall constitute a default by
Subdivider under this SIA:
A. Subdivider's failure to commence construction of the Improvements within the
time, r cificd in Exhibi♦ C;
B.
Subdividerls-failtir-e-to-Gemolete-constRiction-ef-thelmor-ovements-within-the-time-
specified in Exhibit C;
C. Subdivider's failure to construct the Improvements in accordance with the
approved plans and specifications for the Improvements and this SIA;
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D. Subdivider's failure to cure defective construction of any Improvement within thc
applicable cure period as provided in Subsection 6.2;
E.
subject to the provisions of Subsection 3.3 regarding force majeure and seasonal
constraints;
F.
Subd-i-vider-is-i-hsol e-appeihtmeht-of-a-r-eee-iver--fof-Subdivider-ef-the-fitifvg-
of a voluntary or involuntary petition in bankruptcy respecting Subdivider;
G. Foreclosure of any lien against the Property or a portion of the Property or
assignment or conveyance of all or part of the Property in lieu of foreclosure prior
H.
Sid-berwideFLs-fa-i-Itife-te-pay-te-Town-upen-defnand-the-c-ost-Pf-ensie-r-gehey-Fepair-s-
performed in accordance with Subsection 6.3 of this SIA; or
I. Subd-i-viderls-violation-of-ahy-PfGvi-SiGn-ef-this-S-00he-TOWnLs-su-ladi-v-i-s-ienT-zening-
Thc Town may not declare a default until fifteen (15) days' advance written notice has
provided, however, that such notice shall not be required with respect to any defective
construction for which a ten (10) days' notice of right to cure has been given in
accordance with Subsection 6.2 hereof.
Recovery of Damages and Costs. Thc Town shall be entitled to recover all damages
and-oests--ineurred-os-a-eehsequen-oe-ef-any-breaeh-ef-this-S-1A-by-S-u-ladivide-Fa-n-d-
reasohable-oests-ef-obtaihihg-the-appfejahate-PeFformafvee-Gbi-afahtee-funds-ancl-
costs, including r asonablc attorney fees. For Improvements upon which construction
has not begun, the estimated cost of thc Improvements as supplied by Subdivider
pursuant to Section 10 and shown on Exhibit B shall be prima facie evidence of the cost
of completion; however, neither that amount nor the amount of the Performance
Guarantee establishes the maximum amount of Subdividcr's liability. Thc Town shall be
default regardless of the extent to which development has taken place in the Subdivision
or whether development ever commenced.
15.
A. The Town Manager may stop work on the Improvements until a schedule and
agreement on compliance for construction has been r ached.
B. The Town may, but shall not be required to, have the Improvements constructed
by such means and in such manner as the Town shall determine, without the
necessity of public bidding.
C. If the Town elects to have thc Improvements constructed, it shall have the right to
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Improvements. If the amount of the Performance Guarantee exceeds the costs
of obtaining the Performance Guarantee funds and constructing the
pay such costs, Subdivider shall, upon demand, pay such deficiency to the Town,
together with interest thereon as provided in Section 16.
D. The Town may exercise such rights it may have under Colorado law, including,
Subdivider of this SIA.
E.
contractors and employees, a non exclusive right and easement to enter the
F. In addition to any remedies provided for her ' ,
Subdivider is in default under this SIA the Town may refuse to issue building
approval of thc Town. If the Town elects not to proceed with completion of the
Improvements, the Town Board may, by resolution, vacate any portion of the
the Town may proceed with restoring and revegetating the site, which may
Guarantee to pay for the costs thereof.
G. The remedies provided for in this Section and elsewhere in this SIA arc
cumulative in nature.
16. Interest. Any sum which is required to be paid by Subdivider to the Town under this SIA
0
commencing as of the date such sum was due.
•li tiliti . Subdivider shall pay all installation charges for lighting, electricity,
natural gas, telephone and cable television required for the Subdivision. All utility lines
shall be placed underground in accordance with applicable Town requirements.
18. Relocation of Utility Lines and Easements, and Oversizing. Subdivider shall bear all
television lines and providing for respective easements for construction of same within
and outside of thc Subdivision. If oversizing is required, the cost of such oversizing shall
,odor shall take all stops nc to limit and p o nt the a .lation
of, and to remove accumulated, mud, sediment, dirt, -trash and other debris that is
carried onto public property or off site onto private property during construction of said
24 hours of oral or written notice by the Town, Subdivider agrees to pay to the Town
15
upon demand any costs reasonably incurred by the Town in remedying such conditions.
Nothing herein shall obligate thc Town to remedy any such conditions, or limit thc Town
in its selection of thc method or manner of remedy.
20. Payment of Fees and Charges. Subdivider agrees to comply with all the ordinances,
rules and regulations of the Town and shall pay all fees and other charges in a timely
manner as required by the Town, including but not limited to building permit fees,
inspection fecs, and tap fees imposed by Town ordinance, resolution or motion, or by
the terms and conditions of this SIA.
21. a d..cap. g 1 p o e c s. Subdivider shall install at its own expense and at no cost to
that dies within two (2) growing seasons shall be replaced by Subdivider at its sole cost,
and shall be required to live for at I ast one (1) year from the time it is replanted.
Subdivider's obligations under this Section shall be guaranteed as part of the
Improvements.
22. Erosion Control. Subdivider shall comply with all applicable erosion control measures
required by Local, State and Federal Laws.
23.
Subdivider shall ensure that all contractors and/or subcontractors employed by
taxes or fees to the Town before commencing work on any of the Improvements.
24, No Third Party Beneficiaries. It is expre'cly understood and agreed that enforcement of
the terms and conditions of this SIA, and all rights of action relating to such enforcement,
It is the express intention of thc Town and Subdivider that any person other than the
Town or Subdivider receiving services or benefits under this SIA shall be deemed to be
an incidental beneficiary only.
25. Indemnification. Subdivider agrees to indemnify and hold the Town, its officers,
employees, agents and insurers harmless from and against all liability, claims, and
arising from bodily injury, personal injury, sickness, disease, death, property loss or
damage, or any other lo,,s of any kind whatsoever, which arise out of or arc in any
manner connected with thc construction of the Improvements or other work performed
upon the Subdivision, if such injury, loss, or damage is caused in whole or in part by, or
is claimed to be caused in whole or in part by the act, omission, error, professional error,
Subdivider, or any officer, employee, representative, or agent of Subdivider or of any
subcontractor of Subdivider, or which arise out of any worker's compensation claim of
any employee of Subdivider, or of any employee of any subcontractor of Subdivider.
Subdivider agrees to investigate, handle, respond to, and to provide defense for and
defend against any such liability, claims, or demands at the sole expense of Subdivider.
Subdivider also agrees to bear all other costs and expenses related thereto, including
GOtift-GeStS-and-attemeysl-feesrwhettref-ef-Ret-a-Ry-such liability, claims or demands
26. No Waiver. No waiver of any provision of this SIA shall be deemed to constitute a
waiver of any other provision, nor shall it be deemed to constitute a continuing waiver
16
Town and Subdivider; nor shall the waiver of any default under this SIA be deemed a
waiver of any subsequent default or defaults of the same type. The Town's failure to
exercise any right under this SIA shall not constitute the approval of any wrongful act by
Subdivider or the acceptance of any Improvements.
27. Vested Property Rights. This SIA shall not alter, enlarge, extend or modify any vested
waives its rights to any claims against the
28. Recordation. This SIA and the final plat shall be recorded by the Town in the Office of
the Grand County Clerk and Recorder and Subdivider shall pay the Town the costs
Recorder.
29. Immun•ty. Nothing contained in this SIA shall constitute a waiver of the Town's
sovereign immunity under any applicable state or federal law.
30. Personal Jurisdiction and Venue. Personal jurisdiction and venue for any civil action
commenced by either party to this SIA, whether arising out of or relating to the SIA or the
in the District Court of Grand County, Colorado. Subdivider expressly waives its right to
31. Code Changes. References in this SIA to any provision of the Town's Municipal Code or
to any Town or other governmental standard arc intended to refer to any subsequent
amendments and/or revisions to such Code or standard. Such amendments or revisions
32. Nonascignability. This SIA may not be assigned by Subdivider without the prior written
consent of the Town.
33. Notices. Any notice required or permitted hereunder shall be in writing and shall be
sufficient if personally delivered, mailed by certified mail, return receipt requested, or
If to the Town: Town of Fraser
Attn: Town Manager
P. O. Box 370
Fraser, CO 80442
(970) 726 5491
Fax No. (970) 726 5518
c mail•
If to Subdivider:
Notices mailed in accordance with the above provisions shall be deemed to have been
17
shall be deemed to have been given at the time the transmit cion is received. Nothing
of Civil Procedure for service of civil proce6c.
34: Entire Agreement. This SIA constitutes the entire agreement and understanding
between the parties-relating-te-the-subjent-rnatter-ef-t nel-supeFsedes-anyianer-
ag-Feement-er--unclefstandifx3-refating-te-stidn-subjedt-matter,
36. Se.., oh'I'+ It i a trod and o eod by the, ariios hn eto that if a ar+ +
V I��VrUVIIII�. Il IJ IIITVGrJ
ho illegal " enfliet
iII alid. 1
36.
37. C` + + This SIA h + ,d ' ltancously ' twn h f
vvurrcc:r��:Ir �J. i n� o m e n o`y-o i; cYccclrlrca� i I i I arccrl I cv a�-i irr�v-vi--n�vrccv^p^ics ccrcnvr
38, ngE .Iith +ho Property and shall ho binding I I n.d shall
inure to the benefit of +ho parties and +hair r cctivo hoir� ssors assigns nd
legal representatives.
39. Go c g aw. This SIA shall be interpreted in accordance with the laws of the State of
Colorado.
Exhibit A Property description
Exhibit Q
t�nrTrnrry
Exhibit C Required
Exhibit E Permitted title exceptions
Exhibit F Letter of credit form
Exhibit G Payment in lieu of dedication
Exhibit H Agreement for payment of oversized utility fees
Appendix 3 - Development Improvements Agreement
DEVELOPMENT IMPROVEMENTS AGREEMENT
18
THIS DEVELOPMENT IMPROVEM ENTS AGREEMENT ("Agreement") is made and
entered into this day of . 20 . by a nd between the
TOWN OF FRASER , a municipal corporation of the State of C olorad o. having an
address of 153 Fraser Avenue, P. O. Box 120. Fraser . Colorado 80442 (the
"Town"), and , a ha ving an
addre ss of
("Devel oper") (collectively the
"Parties").
WHEREAS. Dev eloper is the owner of certain real property located in the Town.
mo re particularly described in Exhibit A attached hereto and incorporated herein
by reference (the "Property"):
WHEREAS, the Town has approv ed Developer's development plan for the Property,
which is attached hereto as Exhibit B. and incorp orated herein by refer ence: and
WHEREAS. the Town's appro val of the Developer's proposed development on the
Property is contingent upo n the express condition that all duties created by this
Agreement are faithfully performed by Developer.
NOW. THEREFORE. for and in considerati on of the mutual promises and
cov enants contain ed herein. the sufficiency of which is mutually acknowledged.
the Parties hereto agree as follows:
1. Purpose. The purpose of this Agreement is to set forth the
terms. conditions an d fees to be paid by Developer in connection with the
improvements for develo pment of the Property. All conditions in this
Agreement are in addition to any requirements of the Fraser T own Code.
state statutes and other Town ordinances. and are not intended to
supersede any requirements contained therein.
�. Public Impro vements. Developer agrees to complete or pay
for, as described herein. the public improv ements set forth in E xhibit C.
attac hed hereto and inco rporated herein by this reference ("Public
Improvements") subject to this Agreement and in accordance with the
approved development plan.
3. Construction.
a. All Public Improvements shall be i nstalled and
co mpleted at the expense of Developer and dedicated or conveyed
to the Town upon the Town's acceptance thereof or dedi cated or
conv eyed and accepted by an agency. ass ociation. or district as
required by law or as acceptable to the Town. The estimated cost
of the Public Improvements ("Estimated Cost") is set f orth in E xhibit
b. The Town may make reasonable engineering
observ atio ns at Dev eloper's expense . Observati on. acquiescence
19
In or approval by any inspector shall not constitute the approval by
the Town of any portion of such Public Improvements.
c. Developer shall provide all necessary engineering
designs. surveys. field surveys and incidental services related to
the construction of the Public Improvements at its sole cost and
expense. including reproducible "as -built" drawings certified
accurate by a professional engineer registered in the State of
Colorado.
4. Completion and Preliminary Acceptance. Except as
otherwise provided above. the obligations of Developer in Section 3
hereof shall be performed within
A certificate of occupancy shall not be issued until such obligations have
been satisfied unless expressly agreed to otherwise. Proper application to
the Town for preliminary acceptance of Public Improvements shall be
made by Developer in advance. Upon completion of construction of the
Public Improvements. the Town or a Town -accepted agency. association.
or district shall inspect the Public Improvements and certify with
specificity their conformity or lack thereof to the Town's specifications.
Developer shall make all corrections necessary to bring the Public
Improvements into conformity with the Town's specifications. Upon
determination by the Town that the Public Improvements conform with all
of the Town's specifications, the Town shall preliminarily accept the Public
Improvements and the two-year warranty period set forth in Section 5,
below. shall commence.
5. Warranty. Upon preliminary acceptance of the Public
Improvements by the Town. Developer shall warrant any and all Public
Improvements for a period of two (2) years from the date the Town grants
preliminary acceptance of the Public Improvements. Developer shall be
responsible for scheduling the necessary inspections for preliminary
acceptance. Specifically. but not by way of limitation. Developer shall
warrant that all Public Improvements are free of defects in materials or
workmanship for a period of two (2) years. as stated above. Developer
shall be responsible. at Developer's cost. to maintain all Public
Improvements until such improvements are finally accepted and conveyed
by the Town. The Town or a Town -accepted agency. association. or
district will accept for maintenance all Public Improvements after the
warranty period has expired. provided all warranty work has been
completed. The Town shall accept for snow removal purposes only all
dedicated public streets after preliminary acceptance has been granted
in writing by the Town.
6. Final Acceptance of Public Improvements. Upon
completion of the two (2) year warranty period set forth in Section 5.
above. the Town shall inspect the Public Improvements and certify with
specificity their conformity or lack thereof to the Town's specifications.
Developer shall make all corrections necessary to bring the Public
Improvements into conformity with the Town's specifications. Upon
20
years.
determination by the Town that the Public Improvements conform with all
of the Town's specifications. the Town shall accept the Public
improvements. Developer shall convey the Public Improvements to the
Town by bill of sale or warranty deed as determined acceptable by the
Town in its sole judgment. Upon conveyance of the Public
Improvements Developer shall warrant that the title conveyed is
marketable and its transfer rightful.
7. Ownership. All Public Improvements shall be conveyed to
the Town upon final acceptance,
8. Performance Guarantee.
a. To secure the construction and installation of the
Public Improvements, Developer shall furnish the Town. at
Developer's expense and prior to commencement of construction,
cash or an irrevocable letter (or letters) of credit in which the
Town is designated as beneficiary in an amount equal to one
hundred and twenty percent (120%) of the total Estimated Costs of
development (the "Performance Guarantee").
b. The Performance Guarantee shall be in a form
approved by the Town in its sole discretion.
c. The purpose of the Estimated Costs is solely to
determine the amount of security. No representations are made as
to the accuracy of these estimates, and Developer agrees to pay all
costs of the Public Improvements for which it is legally obligated.
regardless of the Estimated Costs.
d. The Estimated Costs may increase in the future.
Accordingly, the Town reserves the right to review and adjust the
Estimated Costs at the time a building permit is issued and
annually if the Public Improvements have not been completed.
Adjustments shall be made according to changes in the
Construction Costs Index as published by the Engineering News
Record. If the Town adjusts the Estimated Costs, the Town shall
give written notice to Developer. Developer shall. within thirty (30)
days after receipt of said written notice. provide the Town with a
new or amended Performance Guarantee in the amount of the
adjusted Estimated Costs. If Developer fails to provide a new or
amended Performance Guarantee. the Town may exercise the
remedies provided for in Section 12 hereof: provided, however. that
prior to increasing the amount of the Performance Guarantee, the
Town shall give credit to Developer for all Public Improvements
which have actually been completed and accepted. so that the
amount of the Performance Guarantee relates to the cost of
required Public Improvements not yet constructed.
e. If the Public Improvements are not constructed or
completed within the period of time specified by Section 4 hereof,
21
the Town may draw on the Performance Guarantee to complete the
Public Improvements. If the Performance Guarantee is to expire
within fourteen (14) calendar days and Developer has not yet
provided a satisfactory replacement. the Town may draw on the
Performance Guarantee and either hold such funds as security for
performance of this Agreement or spend such funds to finish the
Public Improvements or correct problems with the Public
Improvements as the Town deems appropriate.
f. Upon preliminary acceptance. the Performance
Guarantee shall be reduced to the amount of twenty percent (20%) of
the total actual cost of construction and installation of such phase
of Public Improvements. The reduced Performance Guarantee
shall be held by the Town until expiration of the two (2) year
warranty period.
9. Land Dedication: Fee in Lieu. To the extent it does not
conflict with this Agreement. land dedications and fees -in -lieu shall be
provided as stated in Fraser Town Code. In the case of a conflict between
the Fraser Town Code and this Agreement. the terms of this Agreement
shall apply.
10. Nuisance Conditions. Developer shall prevent the existence
of any nuisances by way of its construction activities. as nuisances are
defined by Colorado Law. If the Town determines that a nuisance exists.
Developer shall be subject to the provisions of the Fraser Town Code
regarding the abatement of nuisances and the cost assessed therefor. If
the nuisance is not abated or an abatement plan is not submitted to the
satisfaction of the Town. the Town may. upon thirty (30) days' notice
under this Agreement. draw upon the Performance Guarantee to pay the
cost of abating the nuisance. including any expenses and penalties
incurred under the Fraser Town Code. The Town may exercise this right
in addition to. or in lieu of. the withholding of permits or certificates of
occupancy. The decision to draw on the Performance Guarantee shall be
within the sole discretion of the Town.
11. Indemnification.
a. Developer hereby agrees to indemnify and hold
harmless the Town. its officers. employees. agents or servants
from any and all suits. actions and claims of every nature and
description caused by. arising from or on account of any act or
omission of Developer. or of any other person or entity for whose
act or omission Developer is liable. with respect to construction of
the Public Improvements: and Developer shall pay any and all
judgments rendered against the Town as the result of any suit.
action or claim within the scope of the indemnification provision
contained in this Section 11. together with all reasonable
expenses and attorney fees incurred by the Town in defending
any such suit. action or claim.
22
b. Develo per shall pay all property taxes on the Property
dedicated to the Town accrued as of the date of dedication and
when the same become due and payable to the County Treasurer .
and shall indemnify and ho ld harmless the Town for any property
tax liability.
12. Breach.
a. Jf Dev eloper breaches this Agreement. the T own
may take such action as permitted or authorized by law. this
Agreement or the ordinances of the Town. as the Town deems
necessary to protect the public health. safety and welfare. The
remedies include. but are not limited t o:
i. The re fusal to issue a ny building permit or certificate
of occupancy:
ii. The revocation of any building p ermit
previo usly issued under which construction directly related
to such building permit has not commenced . except a
building permit previously issued to a third party;
iii. A demand that the security given for the
completion of the public impr ovements be paid or hon ored:
and
iv. Any other remedy available at law or in equity .
b. Unless necessary to pr otect the immediate health .
safety and welfare of the Town. or to protect the interest of the
Town with re gard to security gi ven f or th e completion of the public
improv ements. the Town shall pro vide Developer thirty (30) days'
written notice of its intent to take any action under this Section 12 .
during which Developer may cure the breach to prevent further
action by the Town.
c. The rights and remedies of the Town under this
Agreement are in addition to any other right s and remedies
provided by law. The expiration of this Agreement shall in no way
limit the To wn's legal or equitable remedies. or the period in which
such remedies may be asserted. for Public Improvement w ork
negligently or defectively performed.
d. Should this Agreement become the subject of
litigation to resolve a claim of breach by Developer and a court of
competent jurisdiction determines that Developer was in breach of
this Agreeme nt. Developer shall pay the attorney fees. expenses
and court costs of the Town.
23
13. Waiver. In executing this Agreement. Developer waives all
objections it may have concerning defects. if any. in the formalities
whereby it is executed. or concerning the power of the Town to impose
conditions on Developer as set forth herein, and concerning the
procedure. substance and form of the resolution adopting this Agreement.
Developer expressly agrees that the Town cannot be legally bound by the
representations of any of its officers or agents or their designees. except
in accordance with the Fraser Town Code and the laws of the State of
Colorado.
14. Modification. This Agreement shall not be modified, except
by subsequent written agreement of the parties hereto.
15. Integration; Annexation Agreement. This Agreement and
any attached exhibits constitute the entire agreement between Developer
and the Town.
16. Binding Effect. This Agreement shall be binding upon and
inure to the benefit of the parties hereto and their respective heirs.
successors and assigns.
17. Severability. If any provision of this Agreement is
determined to be void by any court of competent jurisdiction. such
determination shall not affect any other provision hereof. and all of the
other provisions shall remain in full force and effect. It is the intention of
the parties hereto that if any provision of this Agreement is capable of two
constructions, one of which would render the provision void, and the
other which would render the provision valid. then the provision shall
have the meaning which renders it valid.
18. Governing Law and Venue. This Agreement shall be
governed by the_laws of the State of Colorado, and any legal action
concerning the provisions hereof shall be brought in Grand County,
Colorado.
19. Assignment. There shall be no transfer or assignment of
any of the rights or obligations of Developer under this Agreement
without the prior written approval of the Town. which may be withheld in
the Town's sole discretion: except that this Agreement and Developer's
rights hereunder may be assigned by Developer in whole. but not in part,
to a company wholly owned by Developer. In the event of an assignment
as permitted herein. the assignee shall assume full responsibility for
fulfilling the remaining obligations of Developer under this Agreement.
and shall execute an acknowledgement of this responsibility in the Town's
favor. Failure of the assignee to execute such an acknowledgement shall
result in Developer being jointly and severally liable with the assignee for
the remaining obligations under this Agreement.
20. Recordation. This Agreement shall be recorded in the real
estate records of Grand County and shall be a covenant running with the
24
Property.
21. Title and Authority. Developer expressly warrants and
represents to the Town that. together with the undersigned individuals,
that the undersigned individuals have full power and authority to enter
into this Agreement. Developer and the undersigned individuals
understand that the Town is relying on such representations and
warranties in entering into this Agreement.
22. Third Parties. There are no intended third -party beneficiaries to
this Agreement.
WHEREFORE. the parties hereto have executed this Agreement on the day and
year first above written.
TOWN OF FRASER
Mayor
ATTEST:
Town Clerk
DEVELOPER
Print Name
Title
STATE OF
)
)
COUNTY OF )
SS.
This instrument was acknowledged before me on this
. as
Notary Public; Commission No.
My Commission Expires:
(SEAL)
25
day of
of
, 20 , by
EXHIBIT A LEGAL DESCRIPTION
26
EXHIBIT B DEVELOPMENT PLAN
27
EXHIBIT C PUBLIC IMPROVEMENTS
IMPROVEMENT
UNIT
COST
TOTAL COST
COMPLETION
DATE
Roads
Subgrade Construction (clearing. cut/fill. grading)
Surfacing (sub -base. base) " thick
Paving (pavement. shoulder gravel) " thick
Curb/Gutter
Sidewalks
Street Name Signs
Street Lights/Signs/Traffic Control Devices
Snow Storage
Parkins
Subgrade Construction " thick
Surfacing " thick
!Paving " thick
Curb/Gutter
Sidewalks
Lighting
Striping
Snow Storage
Pathways
Grading/Drainage
Surfacing " thick
Signs
Drainage
Culverts
Storm Drains
Detention Facilities
Erosion Control
Landscape
Re -vegetation
Landscape Material (itemize on sheet below)
Utilities
Water Mains
Hydrants
Taps
Manholes
Sewer Mains
Electric
Gas
Other Utilities
Misc
Fire Mitigation
Fuels Modification
Defensible Space
Wetlands Mitigation
Clean -Up
Site Clean -Up
SUBTOTAL OF COSTS
TOTAL (Subtotal x 1.20)
28
Landscape Improvements
IMPROVEMENT
SIZE
Height & Caliper
QTY
UNIT
UNIT
TOTAL COST
COMPLETION
COST
DATE
SUBTOTAL (Carry over to previous page.)
Appendix 3A. — Development Improvements Agreement Inspection Request Form
TOWN OF FRASER
153 fRASER aVENUE ERASER. co 80422
�I Phone: 970.720-5481 Website: httpsl/
www.frasercobrado corn/
DEVELOPMENT MPROVEMENTS AGREEMENT
INSPECTION REQUEST FORM
(as of March 2023)
GLOM iv a' 1tN
PROJECT INFORMATION
REQUESTED INSPECTION DATE: I
Property Omer
Propel Name:
Physical Address:
Legal Desorp`on:
Contact Person
Phone:
INSPECTION REQUESTED (Cede those that appy)
ROAD"..
PARKING
DRAINAGE
Stop Constectri inures o'TM. grading)
StCgrade Corstroelor
Culverts
Stetson;
Surfacing
Stamm Drank
raring (pawner*. strew gaael)e-Ili
ow;
Daemon Faones
Curb r Graf
Curb / Geller
Eftlwon Campo
9dev are
9dNkLtk
UTILITIES
Spell Nine Sept
'JIM.;
Watt Lark
Spelt Ups r Sips / Trallte Cttled
Sa1Wn3
Taps
Sneer Straps
Snot Strap
tlanmec
MTMMAY5
MSC. SITE CLEAN4W
Slyer Mane
Gad; I DI r e
Fee lingibm
newt
Straws;
Fbets MOOfcascn
Gas
Slats
DlMelaN Space
Oner L/.ltek
N elland ;1eD9111on
Hydn^ts
LANDSCAPE
SIM 0117144
Retaining Wass
TOTAL AMOUNT TO BE RELEASED: I
AFFIDAVIT
do by
ftereby cerely 1h$ M in erwe ants required
) have bee^ installed b the standards
for the Developn''t httorovements
arc specfica0ons o' the local state an
Agreement {Resolution No.
`ederal standards
&maize
tlptraeo 1151020
30
CONSTRIdGTl8N-GUARANTEE AGREEMENT -
THIS AGREEMENT is made and cntcrcd into as of this day of , 20 , by and
between , whose addre:c is , hereinafter referred to as "Developer",
"Town", together refcrrcd to as "the Parties".
as , on which Developer intends to construct certain improvements (hereinafter, the
"Project"); and
WHEREAS, Developer has applied for the issuance of a land use approval for the Project pursuant
to Chapter 9 of the Frascr Municipal Codc; and
WHEREAS, E=raser's regulations at -Section oval
ei3efeeffete-eenetfuet+enitrafentees-te-enstife-that-neeess-ary-eefistfuction features and public
WHEREAS, Fraser and Developer have cntcrcd into this Agreement to satisfy such requirement
wit respect to the land approval for the Projcct.
specifications and construction documents for the Development Projcct, as submitted to and
approved by Fraser as part of the land use approval for the Projcct.
{2) „ccu cd mp o cmcn s . The "Secured Improvements" shall mean the utility installations,
be provided in accordance with this Agreement. Thc Secured Improvements arc listed, together
with the estimated costs thereof, on Exhibit A attached hereto. Such costs must bc certified by a
licensed Colorado Professional Engineer prior to approval of this Agreement by Fraser.
{3) Construction. Inspections Acceptance. and other Matters. Thc Developer shall cause all public
{Refer to C apter 14 of the Frascr Municipal Codc), and any other applicable regulations of Fraser.
{a) All such public and private improvcmcnts shall bc completed before all or any portion of any lot
Of-uait-i-n-the-far-efeet-may-be-seld-01-4ea-sed and before any approval for occupancy is issued for
any building or structure within the Projcct. Furthcr, all such improvcmcnts shall bc substantially
completed not later than two (2) y ars after the date of this Agreement, unless an extension of time
31
(b) The provisions of thc Fraser subdivision regulations, as contained in C apter 19, Article 3 of
of the Secured Improvements,
Secured Improvemcnts, and all othcr matters relating to Developer's obligation with respect to the
pef-lau-i-kling-
regulations, as contained in Chitptet 1
(1) Financial 8ecurit for Performance and Pa ment . Prior to the is uancc of the development
permit for
c percent (125%) of the total estimated costs
provided in this Agreement. If security is providcd in the form of a cash dcposit, thc security shall
be held by the Town in trust. If any intcrcst is earned on such dcposit, it shall be retained by the
workmanship. These warrantics of Developer, and thc security providcd for the Secured
Improvements shall remain in force and effcct as to any completed Secured Improvements until
the lapse of one (1) y ar after preliminary acceptance of the Secured Improvements, and until final
acceptance of such Improvements as providcd in thc Fraser subdivision regulations. To thc extent
this Section 5 and the
(6) Default and Remedies . Time is of the essence hereof with respect to the performance of
thirty (30) days after written notice of the default is given by Fraser to Developer, then Fraser shall
havc the following remedies:
stop work on any improvements until a schcdulc and agrecmcnt on compliance for construction
has been reached; Frascr may, but shall not be required to, havc thc Sccurcd Improvements
constructed, completed or corrected by such means and in such manner as Frascr shall
of such Sccurcd Improvements.
32
ct; and Fraser may proceed with restoring and
ments, using thc
(e) -All costs and expenses incurred by Fraser as a result of such default and the exercise of the
remedies provided herein, including reasonable attorney fees, shall be chargeable to Developer
such security is less than the costs and expenses incurred, the parties agree Fraser shall have the
sueli-adel-itienel-ee-ats-anel-expeflses-te-eertify-the-s-ame-te-the-Gete-hty Treasurer as a lien on the
exceeds the costs and
for such costs. If the security is insufficient to fully pay such costs, the Developer shall, upon
demand, pay such deficicnc-y-te-Fraser.
against the Developer fer-iiiitifi- f7fef-speeifie-perfermarree-ef-this- Agreement, or to recover
damages for thc br ach of this Agreement.
{7) Additional Provisions.
{a) • ..li :l :w. This Agreement, and the terms, conditions and covenants herein contained,
{b) Sevcrability_ If any part, term, or provision of this Agreement is held by any court of competent
remaining portions or provisions shall not be affected, and the rights and obligations of the Parties
{c) Complete Agreement. This instrument embodies the whole agreement of the Parties. There arc
applicable Fraser ordinances and regulations, as amended from time to time by Fraser. This
{d) No W cr . No waiver of any of the provisions of this Agreement shall be valid or binding
unless in writing, signed by thc party whose rights arc waived, nor shall such waiver constitute a
hereunder be deemed a waiver of any subsequent default hereunder.
(e) Consent to Jurisdiction and Venue . Jurisdiction and venue for any civil action commenced by
either party to this Agreement with respect
Gertyr
Ge-lefatsle,13eveleper-ex-pfesaly-weives-411e-f4g14-te-laring-StiC-4i--aetion--iii--er--te--r-emove such
court, whcthcr state or federal.
(f) No Third Party Beneficiaries . Exccpt as herein provided, no person or entity, othcr than a party
lenders, lot or home buycrs and matcrialmen, laborers or othcrs providing work, services, or
materials for the improvements.
{g) ' .r. i. This Agreement shall be recorded in the Grand County Clerk and Recorder's Officc
rcto and thcir respective successors
and a: signs.
IN WITNESS WHEREOF, the parties hcrcto have executed this Agreement, effective as of the day
FRASER
TOWN OF FRASER, a municipal
BY:
Mayer
ATTEST:
Pik
(SEAL)
EXPAND
34
STATE OF COLORADO
COUNTY OF GRAND
The foregoing instrument was acknowledged before me this day of , 20 , by
, as Mayor, and , as Town Clerk, of the Town of Fraser, Colorado, a
Witness my hand and official seal.
EXPAND
Notapy-Rublie
(SEAL)
EXPAND
STATE OF
COUNTY OF
The foregoing instrument was acknowledged bcferc me this day of , 20 , by
as , of , Developer.
Witness my hand and official scat.
EXPAND
35
Secured Improvements
Iffitsweveffieet Estimated -Cost
2.
3.
PART 2: REPEAL. Any and all existing ordinances or parts of ordinances of the Town of Fraser
covering the same matters as embraced in this Ordinance are hereby repealed and all
ordinances or parts of ordinances inconsistent with the provisions of this ordinance are hereby
repealed; provided, however, that such repeal shall not affect or prevent the prosecution or
punishment of any person for any act done or committed in violation of any ordinance hereby
repealed prior to the taking effect of this Ordinance.
PART 3: SEVERABILITY. If any section, subsection, sentence, clause or phrase of this
Ordinance is, for any reason, held to be invalid or unconstitutional, such decision shall not affect
the validity or constitutionality of the remaining portions of this Ordinance. The Town of Fraser
hereby declares that it would have adopted this Ordinance, and each section, subsection,
clause or phrase thereof, irrespective of the fact that any one or more sections, subsections,
sentences, clauses and phrases thereof be declared invalid or unconstitutional.
PART 4: EFFECTIVE DATE. This Ordinance shall take effect thirty (30) days after passage,
adoption and publication thereof as provided by law.
PART 5: PUBLICATION. This Ordinance shall be published by title only.
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READ, PASSED, ADOPTED AND ORDERED PUBLISHED BY THE BOARD OF
TRUSTEES AND SIGNED THIS 19th DAY OF APRIL, 2023.
Votes in favor: 7
Votes opposed: 0
Votes abstained: 0
BOARD OF TRUSTEES OF THE
TOWN OF FRASER, COLORADO
BY:
ATTEST:
Mayor
((1'
Town Clerk
Published in the Middle Park Times on
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