Finance Committee Agenda and Packet 2014 09 15

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IIffl IIII IHI 11 I 011111111111 08 16/2012 09 23 AM Boulder County Clerk, CO 01 H II0 11 ii1111u STEEL RANCH SOUTH SUBDIVISION AGREEMENT �II Page; 03241 of 452 733 II OF: $0.00 THIS STEEL RANCH SOUTH SUBDIVISION AGREEMENT ( "Agreement ") is made and entered into this If-th day of August, 2012 ( "Effective Date "), by and between the CITY OF LOUISVILLE, a municipal corporation, in the County of Boulder, State of Colorado ( "CITY "), and Takoda Properties Inc., a Colorado corporation ( "Takoda "), and Steel Ranch South Apartments, LLC, a Colorado limited liability company ( "Steel Ranch Apartments "). Takoda and Steel Ranch Apartments are hereinafter referred to individually as such, and Takoda and Steel Ranch Apartments are collectively referred to as "Subdivider ". WHEREAS, Subdivider shall record the Final Subdivision Plat ( "Plat ") for the Steel Ranch South Subdivision ( "Subdivision "), a copy of which is attached hereto as Exhibit A and incorporated herein by reference. Said Plat has been reviewed and approved with conditions by the Planning Commission and City Council of the City; and WHEREAS, the subdivision regulations of the City require that Subdivider enter into a subdivision agreement with the City relative to improvements related to the Subdivision; NOW, THEREFORE, in consideration of the foregoing, the parties hereto promise, covenant and agree as follows: 1.0 GENERAL CONDITIONS 1.1 Subdivision Obligation; Ownership. (a) Subdivider shall be jointly and severally liable for performance of the covenants set forth herein. This Agreement is intended to apply to the Steel Ranch South Subdivision, Planning Areas 4A and 4B as approved by City Council Resolution No. 38, Series 2012 (the "Phase of the Subdivision "). Notwithstanding the foregoing, the City shall have the right to (00060276.DOCX:44 ) I 707259