Ordinance 2014-1667 - Laserfiche WebLink

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AGREEMENT REGARDING VACATION OF EASEMENT tit THIS AGREEMENT is made and entered into this VI day of May, 2014 by and between the City of Louisville (the "City ") and EJ 1900 Taylor LLC, a Colorado limited liability company (the "Owner "). WHEREAS, by the Business Center at C.T.C. Replat C recorded in the Office of the Boulder County Clerk and Recorder on January 24, 2001 at Reception No. 2112641 there was dedicated to the City a 20 foot drainage and utility easement on the common lot line between Lot 2 and Lot 4 and partially on the common lot line between Lot 1 and Lot 3 in the location further described in Exhibit A attached hereto and incorporated herein by this reference ( "the 20 foot Easement "); and WHEREAS, the Owner is the owner of Lots 1, 2, 3 and 4, The Business Center at C.T.C. Replat C (the "Property ") which is subject to the 20 foot Easement; and WHEREAS, the purpose of the 20 foot Easement was to provide storm water drainage and utility services for the Property; and WHEREAS, the Owner has obtained approval from the City for a Final Planned Unit Development ( "PUD ") for the Property and has submitted an application for building permit to the City for construction of an industrial building on the Property (the "Improvements "). The 20 foot Easement impedes the Owner's ability to construct the Improvements; and WHEREAS, the City finds and determines that the 20 foot Easement for which vacation is requested is no longer used, held or needed for any utility or drainage purpose, or other public or governmental purpose. NOW, THEREFORE, for and in consideration of foregoing recitals and other good and valuable consideration, the parties agree as follows: 1. The City hereby agrees to relinquish, vacate and release any right, title and interest whatsoever with respect to the 20 foot Easement dedicated to the City. Upon vacation, title to the vacated 20 foot Easement shall vest with Owner. Upon mutual execution of this Agreement, the City shall commence proceedings for the adoption of an ordinance vacating its interest in the 20 foot Easement, which ordinance is subject to the legislative discretion of the City. Upon adoption and final effectiveness thereof, the vacation ordinance shall be recorded by the City, at the Owner's expense, in the Office of the Boulder County Clerk and Recorder. 2. No other easements for public utilities per The Business Center at C.T.C. Replat C shall be deemed altered or amended by virtue of this Agreement.