Resolution 1995-72 - Laserfiche WebLink

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'1..~ termination of pavement until the full length of Centennial Court is completed. Subdivider shall complete the extension of Centennial Court from Centennial Parkway by DeGember )1, 199~ AUGUST 31, 1996 or by such earlier date as the Planning Director of the City of Louisville may reasonably determine. Subdivider shall, after approval of this amendment by the Louisville City Council, promptly submit to the City an Improvement Guarantee as required by this Subdivision Agreement for completion of such extension." 2. Pursuant to Paragraph 9.4 of the Subdivision Agreement, the City of Louisville consents to the transfer, assignment and delegation to Homart Development Co., a Delaware corporation, of the obligations and duties of the Subdivider under Paragraph 8.2 of the Subdivision Agreement, as described in the Agreement between the Subdivider and Homart, a copy of which is attached hereto and incorporated herein by this reference. The Mayor is hereby authorized to sign the "Consent to Assignment" appearing on page 3 of the attached Agreement. 3. Pursuant to Paragraph 9.4 of the Subdivision Agreement, Subdivider and its respective successors and assigns (other than Homart Development Co., a Delaware corporation, the assuming party), is released from any further obligations and duties under Paragraph 8.2 of the Subdivision Agreement effective at such time as Homart Development Co., a Delaware corporation, lawfully assumes those obligations and duties, and Subdivider is further released from its Improvement Guarantee obligations in the Subdivision Agreement with respect to Paragraph 8.2 only. The Subdivision Agreement is hereby modified to release Lot 1, Block 1, Centennial Valley Business Park Filing No.3, Boulder County, Colorado from the terms, conditions, duties, obligations and burdens of Paragraph 8.2 of the Subdivision Agreement, effective at such time as Homart Development Co., a Delaware corporation, lawfully assumes those terms, conditions, duties, obligations, and burdens. Homart Development Co., a Delaware corporation, will be deemed to have lawfully assumed those terms, conditions, duties, obligations and burdens at such time as the Agreement attached hereto has been fully executed, with a copy thereof filed with the City. 4. Subdivider's approval of the foregoing amendments to the Subdivision Agreement shall be given by signing this Resolution ln the spaces provided below. 11_ A' PASSED AND ADOPTED this /9J..A day of ~ , 1995. ~- ------ (~0~,~ . Tom Davldson, Mayor 2