HomeMy WebLinkAboutB10-0039 Developer Improvement Agreement 011811 • Resa7 R.aea.se-
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CASH DEPOSIT FORMAT I�
Receipt funds to: Legal Description: Lot c{8 ,Block
Name: 0,4, p( ,c, e La Subdivision: 84 Ham Sub
Mailing Address: e fi, /Vr tby, C his
�Bn Address: 4051 l.•+pint fir.
PO i r 311q Developer: WWic L.c . - Props*'1+es
Us.;l, Ge SATS Permit Number: 616 - 0039
Project Number: PR110- 05
Improvement Completion Date: Toty rift, Loll
DEVELOPER IMPROVEMENT AGREEMENT
THIS AGREEMENT, made and entered into this (t 4h day of Tanstokr , 20 I1
by and among Wh; 4 , fL.c,K Pero retii cs LLL (the "Developer"), and the Town of
Vail (the "Town ").
WHEREAS, the Developer, as a condition of approval of the Temporary Certificate of
Occupancy for 40S7 L pirt 3,\ G ytervt! &.$b Lo+ tie (310 -DO3q
(address, legal description, and project number) wishes to enter into a Developer Improvement
Agreement; and
WHEREAS, the Developer is obligated to provide security or collateral sufficient in the
judgement of the Town to make reasonable provisions for completion of certain improvements set
forth in the attached estimated bid(s) in accordance with the approved plans and specifications
filed in the office of the Community Development Department of the Town of Vail; and
WHEREAS, the Developer wishes to provide collateral to guarantee performance of this
Agreement, including completion of the all improvements referred to in this Agreement, by means
of the following:
The Developer agrees to establish a cash deposit account with the Town of Vail, as
escrow agent, in the amount of $ 3 ; 7$O•0O as collateral for the
completion of all improvements referred to in this Agreement, in the event there is a
default under this Agreement by the Developer.
NOW THEREFORE, in consideration of the following mutual covenants and agreements,
the Developer and the Town agree as follows:
1. The Developer agrees, at its sole cost and expense, to furnish all equipment and
materials necessary to perform and complete all improvements referred to in this Agreement. The
Developer agrees to complete all improvements referred to in this Agreement on or before the 1''
day of Soly , 2011 . The Developer shall complete, in a good workmanlike
manner, all improvements referred to in this Agreement, in accordance with all approved plans
and specifications filed in the office of the Community Development Department of the Town of
Vail, and to do all work incidental thereto according to and in compliance with the following: CO
a. All said work shall be done under the inspection of, and to
the satisfaction of, the Town Planner, the Town Engineer, the Town Building 0
Official, or other official from the Town of Vail, as affected by special districts or
service districts, as their respective interest may appear, and shall not be deemed
L
F: \CDev \Developer Improvement Agreements \DIA cash fomiat_051607.doc Page 1 of 5 v
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complete until approyed and accepted as completed by the Community
Development Department and Public Works Department of the Town of Vail.
2. To secure and guarantee performance of the obligations as set forth herein, the
Developer agrees to provide collateral: a$ follows:
A cash deposit account with the Town of Vail, as escrow agent, in the amount of
$ 31 5'o'•c70 as collateral for the completion of all improvements
referred to in this Agreement, in the event there is a default under this Agreement
by the Developer.
3. The Developer may at any time substitute the collateral originally set forth above
for another form of security or collateral acceptable to the Town to guarantee the faithful
completion of those improvements referred to herein in this Agreement and the performance of
the terms of this Agreement. Such acceptance by the Town of alternative security or collateral
shall be at the Town's sole discretion.
4. The Town shall not, nor shall any officer or employee thereof, be liable or
responsible for any accident, loss or damage happening or occurring to the work specified in this
Agreement prior to the completion and acceptance of the same, nor shall the Town, nor any
officer or employee thereof, be liable for any persons or property injured by reason of the nature
of said work, but all of said liabilities shall be and are hereby assumed by the Developer.
The Developer hereby agrees to indemnify and hold harmless the Town, and any of its
officers, agents and employees against any losses, claims, damages, or liabilities to which the
Town or any of its officers, agents or employees may become subject to, insofar as any such
losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon
any performance by the Developer hereunder; and the Developer shall reimburse the Town for
any and all legal or other expenses reasonably incurred by the Town in connection with
investigating or defending any such loss, claim, damage, liability or action. This indemnity
provision shall be in addition to any other liability which the Developer my have.
5. It is mutually agreed that the Developer may apply for and the Town may
authorize a partial release of the collateral deposited with the Town for each category of
improvement after the subject improvement is constructed in compliance with all plans and
specifications as referenced hereunder and accepted by the Town. Under no condition shall the
dollar amount of the collateral that is being held by the Town be reduced below the dollar amount
necessary to complete all uncompleted improvements referred to in this Agreement.
6. If the Town determines, at its sole discretion, that any of the improvements
referred to in this Agreement are not constructed in compliance with the approved plans and
specifications filed in the office of the Community Development Department of the Town of Vail or
not accepted by the Town as complete on or before the date set forth in Paragraph 1 'of this
Agreement, the Town may, but shall not be required to, draw upon the security referred to in this
Agreement and complete the uncompleted improvements referred to in this Agreement. Pursuant
to Section 12 -11 -8, Vail Town Code, the Temporary Certificate of Occupancy referred to in this
Agreement may be revoked until all improvements referred to herein are completed by the
Developer or the Town in accordance with this Agreement.
FACDev \Developer Improvement Agreements \DIA cash format_051607.doc Page 2 of 5
If the costs of completing the uncompleted improvements referred to in this Agreement
exceed the dollar amount of the deposit, the excess, together with interest at twelve percent
(12 %) per annum, shall be a lien against the property and may be collected by civil suit or may be
certified to the treasurer of Eagle County to be collected in the same manner as delinquent ad
valorem taxes levied against such property. .If the Developer fails or refuses to complete the
improvements referred to in this Agreement, such failure or refusal shall be considered a violation
of Title 12 (Zoning Regulations), of the Vail Town Code, and the Developer shall be subject to
penalties pursuant to Section 12 -3 -10 (Violations: Penalties) and Chapter 1 -4 (General Penalty),
of the Vail Town Code.
7. The Developer shall warranty the work and materials of all improvements referred
to in this Agreement located on Town property or within a Town right -of -way, pursuant to Chapter
8 -3, of the Vail Town Code, for a period of two years after the Town's acceptance of said
improvements.
8. The parties hereto mutually agree that this Agreement may be amended from time
to time, provided that s ents be in writing and executed by all parties hereto.
4
: titl e;`,.:
FACDev \Developer Improvement Agreements \DIA cash format_051607.doc Page 3 of 5
Dated the day and year first above written. l
W 14
Developer
STATE OF COLORADO )
) ss.
COUNTY OF EAGLE )
The foregoing Developer Improvement Agreement was acknowledged before me this
ISt" Day of Twayui 20j by r�j,c�C� .L_psiar)
Witness my hand and official seal.
My commission expire
STATE OF COLORADO
COUNTY OF EAGLE
Town Planner
)ss.
The foregoing Developer Improvement Agreement was acknowledged before me this
IQ _ Day of 'nJGli.l , 20jj_ by
Witness my hand and official seal.
My commission expires: / !*,1 19 , r b14
otary Publi
., \0 %k
V ANN
. ����'',
7 ' P UBLIC
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FACDev \Developer Improvement Agreements \DIA cash format_051607.doc Page 4 of 5
ATTACHED COPIES OF THE ESTIMATED BID(S)
�.ahc� A11owa%ce — 4 2,500 -00
'gir4iv Tovol -up Allowance
17-SO-CO
3,? SO. 00
F: \CDev \Developer Improvement Agreements \DIA cash format_051607.doc Page 5 of 5
f '
Town of Vail
Department of Community Development
75 S. Frontage Road
Vail, CO 81657
Name: t itih rock PF. et' CGs/ jf e (,LC Receipt No. 6 2 ZZ$
Address: 44.7 [,.,r,� pfkue.,, /14..413
Project: ptx /v _0096 (A/o - 003f) Date I / r C / 1 /
Please make checks payable to the TOWN OF VAIL
Account No. Item No. Code # Cost Each Total
001 0000 314 1110 Address Maps ZA $5.00 *
001 0000 314 1110 Zoning Maps ZA $20.00 *
001 0000 319 4400 Custom Maps *
001 0000 314 1112 Other Code Books CB
001 0000 314 1211 Blue Prints /Mylar Copy Fees BF $7.00 *
001 0000 314 1111 Xerox Copies XC $0.25 *
001 0000 314 1212 copies / faxes / CD
001 0000 314 1111 Master Plan MS *
001 0000 314 1111 Studies, Master Plans, etc. MS *
001 0000 312 3000 Contractors License Fees CL
001 0000 240 3300 Developer Improvement Agreement Deposit D2 -DEP10 AD 3,7%25. c77
001 0000 312 1000 Restaurant License fee (TOV) RL
001 0000 230 2000 Spec. Assess.- Restaurant Fee to Co.Dept.Rev. SA
110 0000 314 1115 Resale Commission MS
001 0000 319 4400 Miscellaneous MS
Other - MS
Other - MS
Other - MS
Other - MS
001 0000 201 1000 Taxable @ 4.4% (State) - Tax payable TP
001 0000 310.1200 Taxable @ 4% (Town) - Retail Sales Tax T7
TOTAL: 3 co
* all items charged tax
Comments:
Cash Money Order # Check # 1rZ5 Receive?I /it/`_
Credit Card:
Visa /MC Last 4 CC #'s Auth #: Name on CC
(
f /cdev/ forms / admin /sales_action_form_2009.xls 4/2009
i
Town of Vail
CUSTOMER RECEIPT *
Oper: AJAMJSZ Type: F8 Drawer: 1
Date: 1/24/11 81 Receipt no: 1288
Customer Location Nave Amount
2971 2982 818 -8839 WHITE ROCK
AD AR- DEPOSITS
$3758.88
WHITE ROCK PROPERTIES
PLRMITM818-8839
Tender detail
CK C1(U( 1185 $3758.88
Total tendered $3758.88
Total payment $3758.88
Trans date: 1/24/11 Time: 18:56:18
THANK YOU FOR YOUR PAYMENT!
WHITE ROCK PROPERTIES EAST VAIL, LLC 1185
[ 4
P
Check #: 1185 Date: 01/18/2011 Vendor#: 3021 Vail, Town of
DevlmprAgr,Lupi 2010117 4057 Lupine 3,750.00 3,750.00
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