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Home My WebLink About5114'715468 o 6 A m. Q NO. RECORDED APR 1983 BOCK 2151 PAc 831 PUEBLO COUNTY, COLORADO RESOLUTION NO. 5114 A RESOLUTION APPROVING AN ALTERNATIVE V SUB- DIVISION IMPROVEMENTS AGREEMENT FOR LEHIGH SQUARE FILING NUMBER ONE SUBDIVISION WHEREAS, Ordinance No. 4407 was approved on December 12, 1977, which approved the plat for Lehigh Square Filing No. 1 Subdivision; and WHEREAS, said Ordinance and plat approval required the execution of an Alternative IV Subdivision Improvements Agreement in accordance with the requirements and provisions of Chapter 4, Title XII of the 1971 Code of Ordinances; and WHEREAS, said Improvements Agreement was executed by Jerome L. Crane; and WHEREAS, the City last year amended its subdivision ordinance to allow for letters of credit through an Alternative V Subdivision Improvement Agreement; and WHEREAS, the Developer now wishes to substitute an Alternative V Improvement Agreement for the Improvement Agreement previously executed. NOW THEREFORE BE IT RESOLVED BY THE CITY COUNCIL, CITY OF PUEBLO, COLORADO, that: SECTION 1. The Alternative V Subdivision Improvement Agreement dated February 19 , 1983, and the accompanying letter of credit executed by Jerome L. Crane, as partner in Lehigh Park Partnership, to secure the guarantee of the construction and installation of certain public improvements in Lehigh Square Filing No. 1 Subdivision, having been approved as to form by the City Attorney, are hereby approved. The Alternative IV Subdivision Improvements Agreement executed on November 8, 1977 for Lehigh Square Filing No. 1 Subdivision is hereby canceled and the parties are discharged therefrom. SECTION 2. This resolution shall become effective upon final passage. INTRODUCED March 14, 1983 B MIKE SALARDINO Counci person ATTEST: APPROVED: Melvin H. Takaki D Lucy J. Costa Presl ent of the Council 1 ty Clerk RESOLUTION NO. 5114 A RESOLUTION APPROVING AN ALTERNATIVE V SUB- DIVISION IMPROVEMENTS AGREEMENT FOR LEHIGH SQUARE FILING NUMBER ONE SUBDIVISION WHEREAS, Ordinance No. 4407 was approved on December 12, 1977, which approved the plat for Lehigh Square Filing No. 1 Subdivision; and WHEREAS, said Ordinance and plat approval required the execution of an Alternative IV Subdivision Improvements Agreement in accordance with the requirements and provisions of Chapter 4, Title XII of the 1971 Code of Ordinances; and WHEREAS, said Improvements Agreement was executed by Jerome L. Crane; and WHEREAS, the City last year amended its subdivision ordinance to allow for letters of credit through an Alternative V Subdivision Improvement Agreement; and WHEREAS, the Developer now wishes to substitute an Alternative V Improvement Agreement for the Improvement Agreement previously executed. NOW THEREFORE BE IT RESOLVED BY THE CITY COUNCIL, CITY OF PUEBLO, COLORADO, that: SECTION 1. The Alternative V Subdivision Improvement Agreement dated February 19 , 1983, and the accompanying letter of credit executed by Jerome L. Crane, as partner in Lehigh Park Partnership, to secure the guarantee of the construction and installation of certain public improvements in Lehigh Square Filing No. 1 Subdivision, having been approved as to form by the City Attorney, are hereby approved. The Alternative IV Subdivision Improvements Agreement executed on November 8, 1977 for Lehigh Square Filing No. 1 Subdivision is hereby canceled and the parties are discharged therefrom. SECTION 2. This resolution shall become effective upon final passage. INTRODUCED March 14, 1983 ATTEST: City dl etk By MIKE SALARDINO Councilperson APPROVED: i President of the Council x'15469 RFCO�c : C) 9;7 AP R PUEtL COUNTY, COLORADO 83 SUBDIVISION IMPROVEMENTS AGREEMENT BOOK 2 1 51 Ya._833 THIS AGREEMENT made and entered into this 19th day of February , 19883, by and between the CITY OF PUEBLO, a Municipal Corporation, hereinafter referred to as "City," and LEHIGH PARK PARTNERSHIP hereinafter referred to as "Subdivider." W I T N E S S E T H: WHEREAS, Subdivider has subdivided or is about to sub- divide a certain tract of land located in the City and legally described in Exhibit "A," which is attached hereto and incor- porated herein; and WHEREAS, Subdivider, as a condition of approval of the final plat of Lehigh Square Subdivision, hereinafter referred to as "this Subdivision," wishes to enter into this Subdivision Improvements Agreement as authorized by Chapter 4, Title XII of the 1971 Code of Ordinances; and WHEREAS, Subdivider is required pursuant to Section 12 -4 -7 (J) of the 1971 Code of Ordinances of the City to construct and install certain public improvements as set forth in Exhibit "B," which is attached hereto and incorporated herein; and WHEREAS, pursuant to Chapter 4, Title XII of the 1971 Code of Ordinances Subdivider is obligated to provide security or collateral sufficient in the judgment of the City Council to make reasonable provisions for the construction and com- pletion of the required public improvements set forth in Exhibit "B;" and WHEREAS, Subdivider wishes to provide collateral to guarantee performance of this Agreement, including construction of the above referenced public improvements, by means of an irrevocable letter of credit as authorized by Alternative 5 of said Section 12- 4 -7(1). NOW THEREFORE in consideration of the following mutual covenants and agreements, the City and Subdivider agree as follows: BOOK2151 1. Subdivider agrees to construct and install within one year from the date of final approval of the Ordinance approving this Subdivision plat, at his sole cost and expense, all of those public improvements set forth in Exhibit "B." Subdivider understands and agrees that the cost of such improve- ments set forth in Exhibit "B" are estimates only, and if the actual cost of materials or installation exceeds such estimates, Subdivider shall be responsible therefor. 2. Subdivider shall timely construct and complete all required public improvements in accordance with standards and specifications of the City in effect at the time of the construction of such improvements in accordance with all final plat documents submitted prior to or at the time of final plat approval. 3. Subdivider shall deposit with the City Director of Finance prior to or at the time of final plat approval an irrevocable letter of credit approved by the City Attorney and issued by a bank or other qualified institution authorized to do business in the State of Colorado. The institution issuing the letter of credit shall undertake and obligate itself to pay to the City a stated amount equal to the costs of constructing and completing the required public improvements as estimated by the City Director of Public Works. If Sub- divider shall fail to timely complete the required improve- ments, the City may present to the issuing institution a written statement from the Director of Public Works specifying the costs to construct and complete the required public improve- ments and demand payment of that amount. Upon receipt of such written demand, the issuing institution shall, without further action or notice, immediately pay to the City the amount demanded or the stated amount of the letter of credit, whichever is less. The letter of credit may neither be withdrawn nor reduced in amount until released in writing by the Director of Public Works and it shall contain a specified expiration date which shall be not less than 18 months nor longer than 3 years from the date of its issuance. 0 -2- �. .. BOOK 215 . 83 C 4. When Subdivider completes all or a portion of the improvements described in Exhibit "B," Subdivider may apply to the City for a partial or full release of the letter of credit and, upon written notice from the City's Director of Public Works to the issuing institution, the issuing institution may reduce its obligation under the letter of credit by the amount specified by the Director of Public Works. 5. The City agrees to approve the final plat of this Subdivision subject to the terms and conditions of this Agreement, the Subdivision plat and accompanying documents, and the City's subdivision ordinances. 6. The City agrees to accept this Subdivision Improve- ments Agreement and the accompanying letter of credit as Subdivider's guarantee of the completion of the improvements described in Exhibit "B" as required by the City's subdivision regulations and ordinances. 7. The City also agrees to have the City's Director of Public Works or his designee periodically inspect said improvements while under construction and inspect completed improvements within a reasonable time after receiving written notice that an improvement has been completed. The City's Director of Public Works shall notify Subdivider within 10 days after inspection of the required public improvements if the same has been satisfactorily completed and approved by the City and if so satisfactorily completed and approved, the Director of Public Works shall authorize a partial re- duction of the letter of credit. The amount of reduction shall be determined solely by the Director of Public Works based on the percentage of improvements completed and approved. 8. If the City Director of Public Works determines that any of the required public improvements have not been constructed in substantial compliance with City standards, specifications, and subdivision regulations and ordinances, it shall furnish Subdivider a list of specific deficiencies and no reduction in the amount of the letter of credit shall be made until substantial compliance is accomplished. QaIM 0 $DOK 2151 -PA akE 9. As a condition of approval of this Subdivision plat, and to meet the requirements of Section 12- 4 -7(1) of the 1971 Code of Ordinances, Subdivider specifically agrees that no building permit or certificate of occupancy shall be issued by the Pueblo Regional Building Department until a certificate of compliance has been approved and issued by the City Director of Public Works and duly recorded in the Office of the Pueblo County Clerk and Recorder which certifies that those public improvements set forth in Exhibit "B," or that portion of said improvements as shall be necessary to totally serve specific lot(s) or block(s) for which building permits or certificates of occupancy are sought and which are covered by a particular certificate of compliance, have been properly designed, engineered, constructed, and accepted as meeting the specifica- tions and standards of the City. These restrictions on the issuance of building permits and certificates of occupancy shall run with the land and shall extend to and be binding upon the heirs, executors, legal representatives, successors and assigns of Subdivider and may be specifically enforced by the City. 10. Acceptance of this Subdivision by the City does not constitute an acceptance of the roads, park, and other public improvements for maintenance by the City. Until such roads and other park and public improvements have been installed and meet the requirements, standards, and specifications of the City, its Subdivision ordinances, and any applicable Parks Department specifications,and such are specifically approved and accepted in writing by the City Director of Public Works, and, if appropriate, the City Director of Parks and Recreation, the maintenance, construction, and all other matters pertaining to or affecting said roads, park and other public improvements and rights of way are the sole responsiblity of the Subdivider or any subsequent owner(s) of the land within this Subdivision. 11. The parties hereto mutually agree that this Agreement may be amended from time to time by mutual agreement, pro- vided that such amendment be in writing and be signed by all parties hereto. -4- $ ooK 215 �ctf.;$7 12. This Agreement shall extend to and be binding upon the successors and assigns of the City and upon the heirs, administrators, executors, successors, assigns, and legal representatives of the Subdivider, and shall be placed on record in the Office of the County Clerk and Recorder of Pueblo County, Colorado, and shall constitute an agreement running with all the land included in this Subdivision until released as hereinabove set forth. IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed and attested by its duly authorized and acting officers and the seal of Subdivider set hereon. LEHIGH PARK PARTNERSHIP , Subdivider H (S E A L) STATE OF COLORADO) ss. COUNTY OF PUEBLO ) L. CRANE, Managing Partner The foregoing instrument was acknowledged before me this I th day of Fe , 1983, by Jerome L. Crane , Subdivider. My commission expires: 10/5/86 .c t tS `E A L) Lid �j F Notary Public Address: 7a Q IU Y1 / � � 0 �{ /Q 71 C OF �,`' CITY OF PUEBLO By President o the - '*Council ATTEST: City C k/ C67C BOOK STATE OF COLORADO) ) ss. COUNTY OF PUEBLO) The foregoing instrument was acknowledged before me this day of by as President of the City Council, and ------ as City Clerk of the City of Pueblo, Colorado MY commission expires: S, Fr AA L)" Notary Public Address: APPROVED AS TO FORM: City Attorne -6- BOOK2151 "ESCROW AGREEMENT - LEHIGH SQUARE, FILING NO. 1" Exhibit "A" Lots 2 through 6, Block 1, Lehigh Square Filing No. 1. Central Bank of Pueblo, N.A. Dave W. Fimple Vice President To: Pueblo City Council City Hall Pueblo, Colorado 81003 No. 109 DATE: February 23, 1983 EXPIRY: July 23, 1984 AMOUNT: $6,13 Gentlemen: We hereby establish an irrevocable and unconditioned Letter of Credit in your favor and authorize you to draw on the Central Bank of Pueblo, N. A., for the account of LEHIGH PARK PARTNERSHIP, whose address is J. L. Crane Company, 410 Majestic Savings Building, Pueblo, Colorado 81003, up to an aggregate amount of SIX THOUSAND ONE HUNDRED THIRTY FOUR AND N0 /100------ - - - - -- dollars ($6,13 1 +.00), available by your draft or drafts on us at sight for the construction and completion of the public improvements listed in Exhibit "A ", which is attached hereto and incorporated herein, in Lehigh Square a subdivision of the City of Pueblo, Colorado. Drafts drawn pursuant to this letter of credit must be accompanied by a written statement in the form attached hereto as Exhibit "B ", from the Director of Public Works of the City of Pueblo specifying the costs to then construct and complete the required public improvements and demanding payment of that amount. All drafts drawn under this letter of credit shall bear the clause DRAWN UNDER Central Bank of Pueblo, N. A. Letter of Credit No. 109 dated February 23, 1983. We hereby authorize the drawers, endorsers and bona fide holders of drafts drawn under and in accordance with the terms of this credit that the same shall be duly honored and paid upon presentation at our office on or before the expiry date of July 23, 1984. This letter of credit shall be assignable. Very truly yours, CEN Ala, BA1ZK OF E LO , N . A . I l By Dav T. Fimple, 11 utive V. P. bcm 3330 N. Elizabeth, Pueblo, Colorado 81008 / (303) 545 -5726 / FDIC ( 0 1 -CENTRAL BANCORPORATION, INC. BOOK2151 YAr. SUBDIVISION IMPROVEMENT AGREEMENT - EXHIBIT "B" Subdivider or Developer: Subdivision Name: LeHigh Park Partnership LeHigh Square STREET IMPROVEMENTS 1. Clearing & Grubbing 2. Earthwork 3. Concrete curb & gutter 4. Concrete Sidewalk (6' Wide) 5. Asphalt Paving (2) "Asphalt on (2)" Base Course on (5) "Subbase 6. Concrete Crosspans 7. Survey Monuments 8. O."ner Street Improvements Sub - total: SANITARY SEWER SYSTEM 1. Sewer Mains 2. Service Lines 3. Manholes 4. Other Sanitary Sewer System Sub - total: DRAINAGE IMPROVEMENTS 1. Culverts 2. Structures 3. Catch Basins 4. Storm Sewers 5. Manholes 6. Drainage Channels: a. Earthwork b. Erosion Control Structures c. Channel Lining d. Drop Structures & Energy Dis- sipators e. Maintenance Roads QUANTITY UNIT PRICE TOTAL 279.46 Ln.Ft 3. 35 per n. t. `936.00 283.46 Ln.Ft 7.80 per Ln.F 2,211.00 1,068 S.Yds 7.00 per Sq.Y 7,476.00 $ 10,623.00 $ $ $ BOOK 2151. FAQ E 841 DRAINAGE IMPROVEMENTS (Cont'd. f. Fences g. Seeding & Sodding h. Irrigation systems 7. Detention Facilities: a. Earthwork b. Erosion Control c. Outlet Structures d. Low Flow Trickle Channels e. Maintenance Road f. Fencing g. Slope Stabilization & Seeding h. Landscaping i. Irrigation System 8. Other Drainage Improvement Sub - total: Estimated cost of uncompleted improvements within block 25% of Total Estimated Cost of extending public improvements $ 10,623.00 ( A) $ 2,656.00 (B) to proposed building site $ 2,920.00 (C) (B) + (C) _ $ 5,576.00 10% (Contingency factor) _ $ 558.00 Total Amount for Escrow Account = $ 6,134.00 Estimate prepared by: Title: Division of Engineering, City of Pueblo Date: Approved by: et1 , al'�_ ~� Director of Public Works Subdivider or Developer QUANTITY UNIT PRICE TOTAL �/ al, 3 Date Date