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I 03517961 Page: 1 of 18 DF: $0.00 DEVELOPMENT AGREEMENT Lot 1, Block 2 of the Park at CTC THIS DEVELOPMENT AGREEMENT ("Agreement") is made and entered into this !3rif day of I4 , 2016, by and between the CITY OF LOUISVILLE, a home rule municipal cotion, in the County of Boulder, State of Colorado ("City"), and TEBO PARTNERSHIP LLLP, a Colorado limited liability limited partnership ("Developer"). WHEREAS, Developer has submitted a Final PUD Development Plan ("Plan") for Lot 1, Block 2 of the Park at CTC ("Development"), which has been reviewed and approved with conditions by the Planning Commission and by the City Council of the City by City Council Resolution No. 86, Series 2015 as set forth in Exhibit "C" and incorporated herein by this reference; and WHEREAS, the development regulations of the City require that the public improvement obligations be guaranteed in a form acceptable to the City; and WHEREAS, the Developer and City desire to enter into this Agreement relative to the completion of improvements and other matters related to the Development; NOW, THEREFORE, in consideration of the foregoing, the parties hereto promise, covenant and agree as follows: 1.0 GENERAL CONDITIONS 1.1 Development Obligation. Developer shall be responsible for performance of the covenants set forth herein, in accordance with the approved Plan. 1.2 Engineering Services. Developer agrees to furnish, at its expense, all necessary engineering services relating to the design and construction of the Development and the improvements described in the Schedule of Improvements attached hereto as Exhibit "A" and incorporated herein by this reference ("Developer Improvements"). Said engineering services shall be performed by or under the supervision of a Registered Professional Engineer or Registered Land Surveyor, or other professionals as appropriate, licensed by the State of Colorado, and in accordance with applicable Colorado law; and shall conform to the standards and criteria for public improvements as established and approved by the City as of the date of submittal to the City. 1.3 Construction Standards. Developer shall construct the Developer Improvements, in accordance with (i) the plans and specifications approved in writing by the City ("Approved Plans"), (ii) the Plan, and (iii) the City's construction specifications applicable at the time of Plan approval as noted above. 1.4 Development Coordination. Unless specifically provided in this Agreement to the contrary, all submittals to the City or approvals required of the City in connection with this Agreement shall be submitted to or rendered by the City Manager, or his or her designee, who 1