City Council Agenda and Packet 2020 11 10 SP

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FIRST AMENDMENT TO SUBDIVISION AGREEMENT (Clementine Commons) THIS FIRST AMENDMENT TO SUBDIVISION AGREEMENT ("Amendment") is made and entered into this day of , 2020 ("Effective Date"), by and between the CITY OF LOUISVILLE, a Colorado home rule municipal corporation, in the County of Boulder, State of Colorado ("City"), and CLEMENTINE TOWN HOMES, LLC, a Colorado limited liability company ("Subdivider"). WHEREAS, the City and Subdivider entered into that certain Subdivision Agreement for Clementine Commons dated March 19, 2019 and recorded with the Boulder County Clerk and Recorder on May 31, 2019 at Reception No. 03715259 ("Subdivision Agreement") in connection with the Final Subdivision Plat for the Clementine Commons Subdivision ("Subdivision"), a copy of which plat was recorded with the Boulder County Clerk and Recorder at Reception No. 03715166; and WHEREAS, the Subdivision Agreement provides for the completion of certain Subdivider Improvements in connection with the development of the Subdivision; and WHEREAS, on September 30, 2020, pursuant to Section 1.6 of the Subdivision Agreement, Subdivider requested inspection of such Improvements by the City; and WHEREAS, due to various factors, including the COVID-19 pandemic, Subdivider has been delayed in completing the repairs, replacements, construction, or other work identified by the City in order for the Improvements to be granted Construction Acceptance; and WHEREAS, Section 1.6 of the Subdivision Agreement provides that not more than five (5) certificates of occupancy shall be issued for the Subdivision by the Building Division prior to the City's issuance of Construction Acceptance of the Subdivider Improvements; and WHEREAS, of the forty-two (42) townhomes to be built, twelve (12) are complete and ready for occupancy; and WHEREAS, the Subdivider has requested an amendment to the Subdivision Agreement to allow for additional certificates of occupancy to be issued prior to Construction Acceptance being issued by the City; and WHEREAS, as required by Section 1.11, the Subdivider has posted an Improvement Guarantee for all Subdivider Improvements, as set forth in Exhibit A to the Subdivision Agreement, which Improvement Guarantee is subject to partial reduction prior to Construction Acceptance as set forth in section 1.6; and WHEREAS, no partial reductions have been made to the Improvement Guarantee and the Subdivider has agreed none shall be requested prior to Construction Acceptance; and