04-27-2004 TRAER CREEK-RP LLC RESOLUTION NO. 04-17 APPROVING FINAL PLAT AND SUBDIVISION IMPROVEMENTS AGREEMENT FOR THE VILLAGETOWN OF AVON, COLORADO
RESOLUTION NO. 04-17
Series of 2004
A RESOLUTION APPROVING FINAL PLAT AND
SUBDIVISION IMPROVEMENTS AGREEMENT FOR
THE VILLAGE (at Avon) FILING 3, TOWN OF
AVON, EAGLE COUNTY, COLORADO
WHEREAS, Traer Creek-RP LLC, the owner of the applicable portion of The
Village (at Avon) has filed a Final Plat and Subdivision Improvements Agreement for The
Village (at Avon) Filing 3, Town of Avon, Eagle County, Colorado for approval in
accordance with Chapter 16.20 of the Avon Municipal Code; and
WHEREAS, on April 27, 2004, the Town held a public hearing at which it
received evidence and testimony concerning the Preliminary Plan for The Village (at
Avon) Filing 3, at the conclusion of which the Town Council considered such evidence
and testimony and approved the Preliminary Plan by adoption of Resolution 04-15; and
WHEREAS, the Final Plat is in general conformance with the Preliminary Plan as
approved by Resolution No. 04-15; and
WHEREAS, the Final Plat is subject to the terms and conditions of the
Annexation and Development Agreement dated October 13, 1998 and any amendments
or modifications thereto; and
WHEREAS, the Final Plat is subject to the terms and conditions of the P.U.D.
Guide and P.U.D. Development / Sketch Plan dated October 13, 1998 and any
amendments or modifications thereto; and
WHEREAS, the attached Subdivision Improvements Agreement provides for the
construction of the public improvements required for development of The Village (at
Avon) Filing 3 Subdivision and the securities to assure completion of the public
improvements as required by Section 16.24. 100 of the Avon Municipal Code.
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE
TOWN OF AVON, COLORADO, that the Town hereby finds and determines that the
Final Plat and Subdivision Improvements Agreement for The Village (at Avon) Filing 3 is
in general conformance with the Preliminary Plan as approved by Town of Avon
Resolution No. 04-15 and other applicable development laws, regulations and policies of
the Town of Avon and hereby approves the same subject to completion of technical
corrections as identified by Town Staff and the submission to and acceptance by, the
Town of Avon, of the following items prior to recording of the Final Plat and Subdivision
Improvements Agreement:
A. Copy of "Resolution of Traer Creek Metropolitan District Regarding Appropriation
of Funds Under Subdivision Improvements Agreement" as duly adopted and executed
by District Board of Directors (Subdivision Improvements Agreement Exhibit C); and
B. Construction plans, specifications and related documents for construction of
public improvements as identified in Subdivision Improvements Agreement Exhibits A
and B as amended to address technical corrections identified by Town Staff; and
C. Addition of drainage easements and stream setbacks to Final Plat, in accordance
with Town of Avon Subdivision Regulations.
ADOPTED THIS a5
DAY OF MAY, 2004.
TOWN COUNCIL
TOWN OF AVON, COLORADO
Albert D. Reynolds, Ma r
ATTEST:
To y,~y OF A~
enny,
Pa =rk
5T-sAL!
Resolution No. 04-17 Final Plat Filing 3 V@A
O
• SUBDIVISION IMPROVEMENTS AGREEMENT
THE VILLAGE (AT AVON) FILING 3
THIS AGREEMENT, made and entered into this kday of Jlk~_ '2004,
is by and among Traer Creek-RP LLC, a Colorado limited liability company ("Subdivider"),
Traer Creek Metropolitan District, a quasi-municipal corporation and political subdivision of the
State of Colorado (the "District"), and the Town of Avon, a Colorado municipality, by and
through its Council (the "Town").
RFC'ITALS
WHEREAS, Subdivider and the District, in connection with the approval of the final plat
for The Village (at Avon) Filing 3, consisting of 108.720 acres in the SE'/4 of Section 7 and in
the W %2 of the SW %4 of Section 8, T. 5 S., R. 81 W. , of the 6th P.M., Town of Avon, Eagle
County, Colorado (the "Subdivision"), desire to enter into a Subdivision Improvements
Agreement with the Town as provided for by Section 16.24. 100 of the Avon Municipal Code, as
amended (the "Code"); and
WHEREAS, pursuant to the Code, the Town desires to make reasonable provisions for
completion of certain public improvements (the "Improvements") set forth in Exhibit A attached
hereto and incorporated herein by reference; and
• WHEREAS, the District is responsible for the performance and completion of the
Improvements.
AGREEMENT
NOW THEREFORE, in consideration of the following mutual covenants, conditions
and promises, the parties hereby agree as follows:
1. Final Plat Approval. The Town agrees that upon compliance with all other
conditions of approval, and subject to the terms and conditions of this Agreement, the Final Plat
of The Village (at Avon) Filing 3 shall be promptly filed for record with the Office of the Eagle
Countv Clerk and Recorder.
2. Completion of Work.
(a) Performance. District agrees to furnish all equipment, labor and material
necessary to perform and complete, in a good and workmanlike manner, all improvements and
work incidental thereto as set forth in Exhibit A. District further agrees that it shall be solely
responsible for all costs related to the performance and completion of the Improvements as set
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• forth on Exhibit B. All said work shall be performed in accordance with the construction plans
and specifications as submitted to and approved by the Town prior to commencement of
construction of Improvements. All Improvements shall be completed within one (1) year of the
date of the Town's approval of the Final Plat for the Subdivision, subject to extensions for force
majeure events as defined in Section 13 below.
(b) Inspection Procedures.
(1) All work shall be done under the inspection procedures and
standards established by the Town, shall be subject to the reasonable satisfaction of the Town
and shall not be deemed complete until the reasonable approval and acceptance of the
Improvements by the Town. The Town will forward copies of all observation reports to the
District, Subdivider and the District's engineers (who shall be registered in the State of
Colorado) responsible for providing the opinion required by Section 7 hereof.
(2) Designation of Inspectors. Prior to commencement of construction
work on the Improvements, the Town will designate the individuals or independent third parties
employed by the Town who are authorized to inspect the construction of the Improvements.
Such inspections by the Town shall not relieve the District or its agents from any responsibility
or obligation to assure that all work is completed in conformance with standards, plans and
specifications as submitted to and previously approved by the Town.
• (3) Cost of Inspections. The cost of such inspections, whether by
Town employees or an independent third party inspector, shall be paid by the District, subject to
the limitations set forth in paragraph 8 below.
(4) Notice of Non-Compliance. In the event that the Town, through
the inspectors, reasonably determines that the Improvements are not in compliance with the pre-
approved construction plans and specifications, or that additional observation or testing by the
project engineer is necessary to assure compliance, it shall give written notice of such non-
compliance, or additional observation or testing requests, to District's engineers, Subdivider and
the District ("Notice of Non-Compliance"). The Notice of Non-Compliance shall include a
narrative describing the unsatisfactory construction work with specific reference to the applicable
construction plans and specifications. The Notice of Non-Compliance must be provided to
District's engineers, Subdivider and the District within two (2) working days of the date of the
observation.
3. Security for Completion of improvements.
(a) Security. To secure completion of the Improvements, the District hereby
agrees to secure its obligations under this Agreement with Collateral in accordance with Section
16.24.100 of the Code. Collateral shall be one or a combination of the following: cash or its
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Teak J Simonton Eagle, CO 89
• equivalent; securities of acceptable value; letter of credit; bond for warranty period only; and
land of acceptable value by deed of trust.
(b) Substitution of Securi ty. The District may substitute another form of
collateral acceptable to the Town in place of the forms of security set forth below in order to
guaranty the faithful completion of the Improvements and the performance of the terms of this
Agreement.
4. District's Obligations Concerning Improvements.
(a) Funding Resolution. The District has adopted a resolution (the "Funding
Resolution") attached hereto as Exhibit C authorizing the District's execution of this Agreement
and providing for the appropriation, segregation and use of funds in an amount sufficient to
guarantee the construction of the Improvements set forth on Exhibit A. The estimated costs of
completion of the Improvements are set forth on Exhibit B attached hereto and incorporated
herein by reference.
The Funding Resolution specifically provides that all funds referenced therein are
unencumbered and free from claims of others such that, if necessary, any requests for payment
approved by the Town may be promptly honored. As a condition to recordation of the Final Plat,
the District shall provide the Town Engineer with evidence that such funds have been
appropriated and segregated in a separate account (the "Security Account") and identified for use
• in connection with this Agreement. The District shall renew the Funding Resolution at the
beginning of each subsequent calendar year until all Improvements have received final
acceptance or until the District provides substitute collateral acceptable to the Town.
(b) Progress Payments on Improvements. The District may make progress
payments to its contractors from the Security, Account on a monthly basis upon the partial
completion of itemized improvements which have been set forth on Exhibit A and upon fifteen
(15) day's prior written notice including an itemized statement of the District to the Town. The
District shall retain ten percent (10%) of the amount of each payment until final completion and
acceptance of all work covered by each construction contract; provided however, when the value
of work completed has progressed to fifty percent (50%) of the contract amount, the District shall
not be required to withhold additional retainage for the remainder of the work under such
contract. The (10 ten percent retainage of the value of work completed may be reinstated if in
the Town's opinion the lack of progress or other substantial reasons exist. Except for the
foregoing, in no event shall any progress payment cause the remaining sum to be available in the
Security Account for subsequent disbursements to be less than one hundred ten percent (110%)
of the costs to complete all remaining Improvements as estimated at the time of each progress
payment. Upon completion of all work related to the Improvements, the Town's acceptance of
the Improvements and the expiration of the Warranty Period set forth in paragraph 5 below, the
Town shall release any further interest in the Security Account.
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• (c) Default by District. In the event of a default in whole or in part by the
District, the Town shall be authorized to access the funds in the Security Account for the purpose
of undertaking completion or remediation work on the Improvements after providing thirty (30)
days advance notice of default to Subdivider and the District and providing an opportunity during
such period for the District and the Subdivider to cure the default. The Town shall be entitled to
draw on the Security Account by Resolution of the Town Council stating (i) that the District is in
default, and (ii) the funds are required in order to complete or correct work on the Improvements.
District funds identified in the Funding Resolution shall be held, whether by the District or the
Town, in compliance with the requirements of C.R.S. 29-1-803(1) for the purpose of providing
for the completion of the Improvements.
5. Warrant Period. The Improvements shall be warranted to be free from defects in
workmanship or quality for a period of one (1) year after acceptance of all the work by the Town.
In the event of any such defect, the Town may require the District to correct the defect in material
or workmanship. The amounts for completion of all warranty work on the Improvements shall
be secured by a letter of credit, bond or other acceptable collateral in the amount of one hundred
and ten percent (110%) of the cost of such corrective work to be held by the Town during such
one (1) year period, as a guaranty of performance of any work required under the above-
described warranty. In the event any corrective work is performed during the one (1) year
warranty period then the warranty on said corrected work shall be extended for one (1) year from
the date on which it is completed.
• 6. Condition of Public Dedicated Roadways. The District shall at all times prior to
acceptance of any publicly dedicated roadways within the Subdivision by the Town give good
and adequate warning to the traveling public of each and every known dangerous condition
existent in said roads and shall protect the traveling public from such defective or dangerous
conditions. Until the completion of all the Improvements herein agreed to be constructed, roads
not accepted as improved shall be under the charge and control of the District for purposes of this
Agreement; and the District may close all or a portion of any street or road within the
Subdivision whenever it is necessary to protect the traveling public during the construction or
installation of the Improvements herein agreed to be made.
7. Engineer's Opinion. Upon completion of portions of the Improvements, the
District will cause its engineers (who shall be registered in the State of Colorado) to provide a
written opinion that the installation of the Improvements, or portions thereof as may be
completed from time to time, have been completed in general conformance with standards, plans
and specifications as submitted to and previously approved by the Town. Inspection reports, test
results and other supporting documentation shall be submitted with the opinion. The engineer's
opinion shall also include a statement that the opinion is based on a reasonable review and
investigation of all observation reports by the Town inspectors and that all issues of "Non-
Compliance" and additional observation and testing requests that have been provided to the
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is engineer were addressed to their satisfaction prior to the issuance of engineer's opinion.
8. Subdivision and Inspection Fees. Fees in accordance with the Town's
Subdivision Regulations for the review of Preliminary Plans and Final Plats have been paid in
full. Additional fees shall be paid to the Town by the District within thirty (30) days after
delivery of written invoice for such fees to cover the cost of inspections by the Town. The fees
will be based on direct (out-of-pocket) costs of the Town plus an administrative fee in the
amount of fifteen (15%) percent of the direct costs, but in no event will the total amount of such
additional fees exceed five percent (5%) of construction costs.
9. No Obligation of Town to Complete Improvements. Subdivider and the District
agree that in the event the District shall fail to perform its obligations as set forth herein, the
Town shall be under no obligation to complete or perform any of the Improvements. No one,
individually or otherwise, other than the parties hereto, shall acquire, as a result of this
Agreement, any rights, claims or obligations from or against the Town, its agents, employees or
officers. Actions by the Town against the District to enforce any provision of this Agreement
shall be at the sole discretion of the Town. Except in the event the Subdivider completes cure of
the District default and thereby is entitled to require the Town to accept the Improvements, no
third parties (including the Subdivider) shall have any rights to require any action by the Town
pursuant to this Agreement and this Agreement shall not create a liability on the part of or be a
cause of action against the Town, for any personal or property damage that may result to any
third parties (including the Subdivider) from the failure of the District to complete the
40 Improvements herein specified.
10. Non-Liability of Town, Indemnification. The Town shall not, nor shall any
officer, agent, or employee thereof, be liable or responsible for any accident, loss or damage
related to the work specified in this Agreement, nor shall the Town, nor any officer, agent or
employee thereof, be liable for any persons or property injured by reason of the nature of said
work. To the extent permitted by law, the District hereby agrees to indemnify and hold harmless
the Town, and any of its officers, agents and employees against any losses, claims, damages or
liabilities to which the Town or any of its officers, agents or employees may become subject,
because of any losses, claims, damages or liabilities (or actions in respect thereof) that arise out
of, or are based upon, any acts or omissions in the performance of the obligations of the District
as hereinbefore stated. Furthermore, the District shall reimburse the Town for any and all legal
or other expenses reasonably incurred by the Town in connection with investigating or defending
any such loss or claim.
11. Rights of Town in Event of Default. In the event that the District defaults in
whole or in part in the performance of this Agreement, and after the expiration of thirty (30) days
after having given written notice to Subdivider and the District of such default during which
period of time the Subdivider or the District failed to correct said default, the Town may, at its
sole discretion, proceed with the construction or completion of the Improvements specified on
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Exhibit A. All such costs paid by the Town for such Improvements (or paid by Subdivider if it
chooses, in its sole and exclusive discretion, to cure the District's default), together with all costs
of personnel, equipment and other matters expended by the Town (or Subdivider in the event
Subdivider undertakes a cure of the District's default as aforesaid) in furtherance of the
construction responsibilities of the District, shall be paid by the District. Any such costs relating
to the Improvements, which have not been reimbursed by the District to the Town or Subdivider,
as applicable, shall be a lien on any property in the Subdivision conveyed to the District
contemporaneously with recordation of the final plat of The Village (at Avon) Filing 3. Said lien
may be foreclosed in the same manner as a mortgage and shall entitle the Town or Subdivider, as
applicable, to add its costs and reasonable attorneys' fees in such foreclosure or other collection.
Without limiting the foregoing, the Town and/or Subdivider may, but shall not be obligated to,
bring a mandatory injunction action against the District to require installation and construction of
the Improvements, if not constructed within the time limits described in this Agreement. If any
such action is brought by, the Town and/or Subdivider, the Town or Subdivider, as applicable,
shall be awarded its court costs and reasonable attorneys' fees.
12. Letter Certifying Completion and Final Acceptance of Improvements. When all
Improvements have been completed and accepted by the Town, and the Warranty Period has
expired, the Town agrees that it will issue a letter, in recordable form, certifying that all
obligations of Subdivider and the District under this Agreement have been satisfied.
13. Force Majeure. Whenever a party is required to perform an act under this
Agreement by a certain time, said time shall be deemed extended so as to take into account
events of "Force Majeure." "Force Majeure" is any of the following events that prevents, delays,
retards or hinders a Party's performance of its duties hereunder: act of God; fire; earthquake;
flood; explosion; war; invasion; insurrection; riot; mob violence; sabotage; vandalism; inability
to procure or general shortage of labor, equipment, facilities, materials or supplies in the open
market; failure of transportation; strikes; lockouts; litigation; condemnation; requisition;
governmental, civil, military or naval authorities; or any similar cause not within such party's
control.
14. Amendments. This Agreement may be amended from time to time, provided that
such amendment is in writing and signed by all parties hereto.
15. Covenants Running with the Land. This Agreement and the obligations hereof
shall be deemed to be covenants running with the land and shall be binding on the successors and
assigns of the parties hereto.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date
first above written.
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• (SIGNATURE PAGE TO
SUBDIVISION IMPROVEMENT AGREEMENT
THE VILLAGE (AT AVON) FILING 31
TOWN OF AVON, a Colorado
municipal corporation
AT
To Cl k Mayor
APPROVED AS TO FORM:
-~h v 'IL
To n Attorney
~'9IA,p
~F
TRAER CREEK-RP LLC, a Colorado limited
liability company
By: TRAER CREEK LLC, a Colorado limited
liability company, its Manager
agnu indholm, Manager
TRAER CREEK7
A
N DISTRICT, a
7TO'O
quasi-municipal n
By:
40 16680/Traer 7 May 20, 2004
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Teak J Simonton Eagle, CO 89 R 71. 00 D 0. 00
s~
EXHIBIT A.
DESCRIPTION OF IMPROVEMENTS
1. Mobilization
II. Roads - Includes Excavation, Embankment, Retaining Walls, Fine Grading, Sub-Base
Materials & Preparation, Concrete Curb, Gutter, Medians, Crosspans, Rec Path & Sidewalks,
Asphalt Paving and Asphalt Rec Path, Guardrail, Pedestrian Rail, Pedestrian Tunnel, Paved
Crosswalks, Signage, Striping and Other Incidental Construction per Approved Plans &
Documents
A. Post Boulevard from Roundabout 5 through Swift Gulch Road Intersection
B. Swift Gulch Road from The Village (at Avon) Filing 2 to Post Boulevard
Intersection
III. Utilities
A. Water
B. Sewer
III. Slope Protection & Erosion Control
A. Rip-Rap
i B. Erosion Control Matting
C. Silt Fence, Wattles & Other Temporary Erosion Control Facilities
IV. Storm Drainage
A. Storm Drain Pipes
B. Inlets and Headwalls & Rip-Rap
C. Manholes & End Sections
V. Shallow Utilities
A.
Electric
B.
Telephone
C.
Cable TV
D.
Natural Gas
E.
Conduit for Other
VI. Street Revegetation & Landscaping
VII. Street Lighting
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• EXHIBIT B
COST ESTIMATE OF IMPROVEMENTS
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Swift Gluch Road Traer Creek Metro. District Unit Price Comparisons
24 MAY 04
•
Gould
Descri
tion
T Quantity
p
Unit Price
Total $
1
GENERAL
2
Mobilization
1
LS
125,750.00
125,750.00
3
Construction Surve in /La out
1
LS
43,395.00
43,395.00
4
Subtotal
169,145.00
5
ROADS
6
Clearing
1
LS
33,850.00
33,850.00
7
Topsoil Remove and Stockpile (6")
11,534
CY
2.35
27,104.90
8
Topsoil Replace (4")
3,770
CY
6.30
23,751.00
9
Excavation Placed as Embankment
72,867
CY
3.10
225,887.70
10
Excavation Export and Place in Stockpile
54,841
CY
2.35
128,876.35
11
Soil Nail Walls with Block Veneer
13,723
SF
52.55
721,143.65
12
MSE Walls using Modular Block Units
2,573
SF
39.85
102,534.05
13
Guardrail
1,920
LF
16.00
30,720.00
14
Guardrail End Anchors
6
EA
760.00
4,560.00
15
Concrete Curb and Gutter
2,424
LF
13.50
32,724,00
16
3' Concrete Pan
69
LF
26.40
1,821.60
<'»:::::<:»::>
t 4
(LNi
14
$jvy
i.t;y':!%?S:~4K{O~~ '•:±..V i JL': :::i:::•::i::::::::::ii::i'ri'r} i:: i::}
.
p
{iiin v::, ::::'r,
:::i: ' i
' ::i
.7..(():::::
f:::. }•:::v:::::::i:t::::i
I.1:6,~QE 10............
19
Asphalt (4" thick)
2,522
TON
46.80
118,029.60
20
Asphalt (9". thick)
1,510
TON
46.80
70,668.00
21
Precast Tumbled Pavers
941
SF
12.75
12,001.70
22
18". Cast-in-Place Concrete. Band
144
LF
23.70
3,412.80
23
Type 2 (llm). Mountable Curb. and Gutter
270
LF
20.00
5,400.00
24
Type 1 ADA Ramp
4
EA
800.00
3,200.00
25
Median Spill Curb and Gutter
1,342
LF
16.00
21,472.00
26
Line Striping
14,196
LF
0.40
5,678.40
I
27
Signs
32
EA
500.00
16,000.00
28
Barricade. (Type 3M-A)
4
EA
600.00
2,400,00
29
Pedestrian Tunnel
1
LS
160,100.00
160,100.00
30
Pedestrian Rail
959
LF
7.80
7,480.20
31
Concrete. Rec. Path. (6". thick). 10'. wide
1,173
SY
31.50
36,949.50
32
Asphalt (3"
thick). Rec Path
1,289
TON
47.95
61,807:55
,
d:8 s.;
.~8~:.. 6'.;:ti11~K';:Ft~C:::f?`
.
;::.;;:.:'t'
:<:::>::>:<::«:::;:.:.
34
Chain. Link Fence. (M-607-2) Single Gate
2
EA
3,260.00
6,520.00
35
Subtotal
2,024,952.40
36
WATER
37
6". DIP
163
LF
44.00
7,172.00
38
8". DIP
1,391
LF
46.30
64,403.30
39
16". DIP
478
LF
66.00
31,548.00
40
6" Gate Valve
4
EA
800.00
3,200.00
41
8". Gate Valve
5
EA
1,085.00
5,425.00
42
16" Gate Valve
2
EA
4,530.00
9,060.00
43
Air Release Vault
2
EA
2,800.00
5,600.00
44
Relocate Air Release Vault
1
LS
2,800.00
2,800.00
45
Fire Hydrant Assembly
4
EA
3,240.00
12,960.00
46
Water Service Lines (1-1/2" diam.)
Copper
1
EA
2,400.00
2,400.00
47
Irrigation Meter Pit
1
EA
1,750.00
1,750.00
48
Subtotal
146,318.30
49
SLOPE PROTECTION AND EROSION CON
TROL
50
Stabilized Construction Entrance
3
EA
1,600.00
4,800.00
51
Silt Fence
865
LF
1.70
1,470.50
52
Rip-Rap (inlet/outlet protection) d50=9"
58
LF
24.00
1,392.00
53
Rip-Rap (inlet/outlet protection) d50=12"
16
LF
24.00
384.00
54
Rip-Rap (inlet/outlet protection) d50=18"
123
LF
60.00
7,380.00
55
Riprap (inlet/outlet protection) d50=24"
11
LF
90.00
990.00
56
Straw Bale Dike
2
EA
75.00
•
150.00
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Swift Gluch Road Traer Creek Metro District Unit Price Comparisons
24 MAY 04
4
Gould
tion
D
i
11
Quantit
escr
p
y
Unit Price
Total $
57
Wattle
36
EA
115.00
4,140.00
58
Beaver Dam (inlet protection)
9
EA
260.00
2,340.00
59
Silt Sack (inlet protection)
17
EA
125.00
2,125.00
60
Erosion Control Matting (14' wide)
192
LF
3.10
595.20
LandLok 450
61
Erosion Control Matting (4' wide)
2,319
LF
1.20
2,782.80
LandLok 450
62
Reve etation
1
LS
18,545.00
18,545.00
63
Subtotal
47,094.50
64
DRAINAGE
65
Mountable Curb Inlet
1
EA
2,200.00
2,200.00
66
C Inlet
12
EA
2,475.00
29,700.00
67
D Inlet
4
EA
3,300.00
13,200.00 .
68
2x6 Curb. Inlet
1
EA
3,650.00
3,650.00
69
2x3 Valley Inlet
1
EA
2,245.00
2,245.00
70
5' Type R Inlet
5
EA
4,300.00
21,500.00
71
18". CMP .
159
LF
39.95
6,352.05
72
18". RCP
711
LF
37.45
26,626.95
73
21" RCP
558
LF
41.50
23,157.00
74
24" RCP
21
LF
52.00
1,092.00
75
24". CMP
576
LF
41.50
23,904.00
76
36" CMP
290
LF
57.25
16,602.50
77
84" CMP
87
LF
220.00
19,140.00
78
84' Headwalls plus RipRap
1
LS
38,300.00
38,300.00
79
24" CMP. End Sections
12
EA
430.00
5,160.00
80
36" CMP End Sections
2
EA
535.00
1,070.00
81
4' Diam Storm Drain Manhole
2
EA
2,600.00
5,200.00
82
Subtotal
239,099.50
83
SEWER
f
/ 84
8" PVC
1,560
LF
36.00
56,160.00
85
6". PVC. Services
140
LF_
36.00
5,040.00
86
Encasement
100
LF
45.00
4,500.00
87
SDR.17 HOPE 100. psi
335
LF
20.00
6,700.00
88
Manhole
10
EA
2,800.00
28,000.00
89
Sewer Video
1,620
LF
1.50
2,430.00
90
Subtotal
102,830.00
91
SHALLOW. UTILITIES
92
Trenching
7,174
LF
10.00
71,740.00
93
Electric Conduit 6" (install only)
2,955
LF
0.85
2,511.75
94
Electric. Conduit 4' (install only)
16,631
LF
0.85
14,136.35
95
Telephone Conduit 4"
2,914
LF
2.00
5,828.00
96
Cable TV Conduit 4"
2,914
LF
2.00
5,828.00
97
Secondary Electric 4" Conduit and Wire
1,042
LF
2.00
2,084.00
98
Secondary Electric 2" Conduit and Wire
3,055
LF
1.00
3,055.00
99
Communications 4484-TCA Vault
7
EA
4,840.00
33,880.00
100
Electric UM 35L Splice Vault (install only)
7
EA
600.00
4,200.00
101
Boulder Walls
720
SF
20.00
14,400.00
102
12" RCP
60
LF
26.45
1,587.00
103
4". Fiber Optic Conduit
1,457
LF
2.00
2,914.00
104
6" Spare Conduit
9,549
LF
2.60
24,827.40
105
4" Spare Conduit
9,321
LF
2.00
18,642.00
106
Handhole
18
EA
200.00
3,600.00
107
12"x8"x6" Fiberglass Pullbox
7
EA
200.00
1,400.00
108
Subtotal
210 633.50
109
Landscaping (Allowance)
1
LS
30,000.00
30,000.00
110
Lighting, Allowance
t
T
l
1
LSJ
55,000.00
F-
55 000.00
7
o
a
I
3.20
1 3,025,0
882178
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Teak J Simonton Eagle, CO 89 R 71 .00 D 0000 1:33P
6/29
EXHIBIT C
DISTRICT FUNDING RESOLUTION
•
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Teak J Simonton Eagle, CO 89 R 71.00 D 0.00
16680/Traer
May 20,
2004
RESOLUr'><?ON
OF TRAIER CREEK 11'fETROPOLITAN DISTRICT
REGARDING APPROPRIATION OF FUNDS UNDER
S'U'BDIVISION IMPROVEMENTS AGREEMENT
TKE VILLAGE (AT AVON) FILING 3
WHE1tw, Tracr Creek Metropolitan District (the "District') is a quasi-municipal
corporation and political subdivision of the State of Colorado; and
WHEREAS, the District is authorised, pursuant to Section 32-1-1001(1)(d)(1), C.R,S.. to
enter into contracts aDd agreements affecting the affairs of the District; and
WHEREAS, the District has entered into a Subdivision Improvements Agreement The
Village (At Avon) Filing 3 dated _June 8 , 2004 (the "SW') with the Town of Avon,
Colorado (the "Town') and Tzaer Creek-RP LLC, a Colorado limited liability company
("Subdivider') regarding the funding and/or construction of public inftstructure improvements
in connection with the approval of the final Plat of The Village (at Avon) Filing 3, Town of
Avon, Eagle County, Colorado; and
WHEREAS, the District is responsible for the performance and completion of public
improvements assigned on Exhibit A ofthe SXA (the "District Improvements');
NOW, THEREFORE, BE IT RESOLVM $Y THE BOARD OF DMECTORS OF
TRAER CRBEX METR.OPOMAN DISTRICT AS FOLLOWS:
1. The Board of Directors hereby finds, determines and declares that it is in the best
interest of the District to execute and doliver to the Town the SIA and the appropriate officers of
the District are hereby authorized to execute atad deliver such SIA to the Town.
2. The Board of Directors hereby appropriates, reserves and allows for tender to the
Town pursuant to the SIA available hands of the District in an mount not less than
$3,025,273.20 (the "Funds") to guarantee construction of the District Improvements.
3. The Board of Directors hereby certifies to the Town Council that the Funds are
unencumbered and free from claims of others so that any requests of the Town for payment
under the SIA maybe promptly honored. The Board of Directors further certifies to the Town
Council that the Funds have been set aside in a separate account and identified for the purposes
recited herein and that such Funds shall be held in compliance with the requirements of Section
29-1-803(1), C.R.S., for the purpose of providing for the completion of the District
Improvements.
4. This Resolution shall be renewed at the beginning of each subsequent calendar
year until all the District improvements have received final acceptance or until the District
provides substitute collateral acceptable to the Town.
(00019=3.00C YA )
IlnllIINIhl~lVIIINI
Teak J Simonton Eagle
111111111111111111111111
co 89 R 71
882178
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06/29/2004 01:33P
00 D 0.00
1
[SIGNATURE PAGE FOR RESOLUTION REGARDING APPROPRIATION OF FUNDS
J; UNDER SVBDMSYON IMPROVEMENTS AGREEMENT
TEM VILLAGE (AT AVON) FILING 31
APPROVED AND ADOPTED this I+,-. day of
TRAER CREPK
By:
Ancsr:
Efic p1gate, Secretary
882178
Page: 14 of 14
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Teak J Simonton Eagle, CO 89 R 71.00 D 0.00
(0001M3.wC v;1) 2
1-6 Lo V\
TOWN OF AVON, COLORADO
RESOLUTION NO. 04-17
Series of 2004
A RESOLUTION APPROVING FINAL PLAT AND
SUBDIVISION IMPROVEMENTS AGREEMENT FOR
THE VILLAGE (at Avon) FILING 3, TOWN OF
AVON, EAGLE COUNTY, COLORADO
WHEREAS, Traer Creek-RP LLC, the owner of the applicable portion of The
Village (at Avon) has filed a Final Plat and Subdivision Improvements Agreement for The
Village (at Avon) Filing 3, Town of Avon, Eagle County, Colorado for approval in
accordance with Chapter 16.20 of the Avon Municipal Code; and
WHEREAS, on April 27, 2004, the Town held a public hearing at which it
received evidence and testimony concerning the Preliminary Plan for The Village (at
Avon) Filing 3, at the conclusion of which the Town Council considered such evidence
and testimony and approved the Preliminary Plan by adoption of Resolution 04-15; and
WHEREAS, the Final Plat is in general conformance with the Preliminary Plan as
approved by Resolution No. 04-15; and
WHEREAS, the Final Plat is subject to the terms and conditions of the
Annexation and Development Agreement dated October 13, 1998 and any amendments
or modifications thereto; and
WHEREAS, the Final Plat is subject to the terms and conditions of the P.U.D.
Guide and P.U.D. Development / Sketch Plan dated October 13, 1998 and any
amendments or modifications thereto; and
WHEREAS, the attached Subdivision Improvements Agreement provides for the
construction of the public improvements required for development of The Village (at
Avon) Filing 3 Subdivision and the securities to assure completion of the public
improvements as required by Section 16.24. 100 of the Avon Municipal Code.
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE
TOWN OF AVON, COLORADO, that the Town hereby finds and determines that the
Final Plat and Subdivision Improvements Agreement for The Village (at Avon) Filing 3 is
in general conformance with the Preliminary Plan as approved by Town of Avon
Resolution No. 04-15 and other applicable development laws, regulations and policies of
the Town of Avon and hereby approves the same subject to completion of technical
corrections as identified by Town Staff and the submission to and acceptance by, the
Town of Avon, of the following items prior to recording of the Final Plat and Subdivision
Improvements Agreement:
A. Copy of "Resolution of Traer Creek Metropolitan District Regarding Appropriation
of Funds Under Subdivision Improvements Agreement" as duly adopted and executed
by District Board of Directors (Subdivision Improvements Agreement Exhibit C); and
B. Construction plans, specifications and related documents for construction of
public improvements as identified in Subdivision Improvements Agreement Exhibits A
and B as amended to address technical corrections identified by Town Staff; and
C. Addition of drainage easements and stream setbacks to Final Plat, in accordance
with Town of Avon Subdivision Regulations.
ADOPTED THIS a5 DAY OF MAY, 2004.
TOWN COUNCIL
TOWN OF AVON, COLORADO
ATTEST:
~G f
Pa ty M enny,
To rk
Albert D. Reynolds, Ma r
S I A L
Resolution No. 04-17 Final Plat Filing 3 V@A
Memo
To: Honorable Mayor and Town Council
Thru: Larry Brooks, Town Manager
From: Norm Wood, Town Engineer
Date: May 20, 2004
Re: The Village (at Avon) Filing 3 - Final Plat and Subdivision Improvements
Agreement / Resolution No. 04-17, Series of 2004
Summary: Traer Creek-RP LLC has submitted a Final Plat and related
Subdivision Improvements Agreement (SIA) for The Village (at Avon) Filing 3. This is a
subdivision of a parcel of land located in the Southeast t/4 of Section 7 and in the West
of the Southwest t/4 of Section 8, Township 5 South, Range 81 West of the 6th Principal
Meridian in the Town of Avon, Eagle County, Colorado. This area includes all or
portions of the P.U.D. Planning areas OS-5, N, G and RMF-l. The submittal includes
construction plans for the extension of Swift Gulch Road and corresponding Bike Path
from Buffalo Ridge (Filing 2) to Post Boulevard north of the new I-70 Interchange.
Traer Creek Metropolitan District will be a party to the SIA in addition to Traer Creek-RP
LLC. The Final Plat is in conformance with the Preliminary Plan that was previously
approved by Resolution No. 04-15, Series of 2004. The Subdivision Improvements
Agreement provides for construction of the public improvements required to serve the
proposed subdivision and for the provision of securities to assure completion of the
improvements. The SIA also establishes guidelines for quality control, release of
securities as construction is completed and establishes the warranty period for the
completed improvements.
The public improvements generally consisting of streets, roads, water, sewer and storm
drainage facilities will be constructed by Traer Creek Metropolitan District. The security
for the completion of these improvements will be in the form of a District Fund in an
amount equal to the cost of the improvements estimated at $3,324,003 and established
solely for this purpose. This fund will be established by a "Resolution of Traer Creek
Metropolitan District Regarding Appropriation of Funds Under Subdivision
Improvements Agreement" (Exhibit C) to the Subdivision Improvements Agreement.
1:\Engineering\Avon Village\4.0 Filing 3\4.5 Final Plat\4.5.2 Permits & Approvals\Res 04-17 Approval Memo.Doc 1
The proposed Final Plat and SIA are in conformance with the Annexation and
Development Agreement, The Village (at Avon) P.U.D. Guide and P.U.D. Development
Plan as Amended and has no effect on existing zoning. Approval of this Final Plat and
SIA is recommended.
Recommendations: Approve Resolution No. 04-17, Series of 2004, A
Resolution Approving Final Plat and Subdivision Improvements Agreement for The
Village (at Avon) Filing 3, Town of Avon, Eagle County, Colorado.
Proposed Motion: I move to approve Resolution No. 04-17, Series of 2004, A
Resolution Approving Final Plat and Subdivision Improvements Agreement for The
Village (at Avon) Filing 3, Town of Avon, Eagle County, Colorado.
Town Manager Comments:
l:\Engineering\Avon Village\4.0 Filing 3\4.5 Final Plat\4.5.2 Permits & Approvals\Res 04-17 Approval Memo.Doc 2
W,`f w
• SUBDIVISION IMPROVEMENTS AGREEMENT
THE VILLAGE (AT AVON) FILING 3
THIS AGREEMENT, made and entered into this kt1day of , 2004,
is by and among Traer Creek-RP LLC, a Colorado limited liability company ("Subdivider"),
Traer Creek Metropolitan District, a quasi-municipal corporation and political subdivision of the
State of Colorado (the "District"), and the Town of Avon, a Colorado municipality, by and
through its Council (the "Town").
RECITALS
WHEREAS, Subdivider and the District, in connection with the approval of the final plat
for The Village (at Avon) Filing 3, consisting of 108.720 acres in the SE 1/4 of Section 7 and in
the W % of the SW %4 of Section 8, T. 5 S., R. 81 W. , of the 6th P.M., Town of Avon, Eagle
County, Colorado (the "Subdivision"), desire to enter into a Subdivision Improvements
Agreement with the Town as provided for by Section 16.24. 100 of the Avon Municipal Code, as
amended (the "Code"); and
WHEREAS, pursuant to the Code, the Town desires to make reasonable provisions for
completion of certain public improvements (the "Improvements") set forth in Exhibit A attached
hereto and incorporated herein by reference; and
• WHEREAS, the District is responsible for the performance and completion of the
Improvements.
AGREEMENT
NOW THEREFORE, in consideration of the following mutual covenants, conditions
and promises, the parties hereby agree as follows:
1. Final Plat Approval. The Town agrees that upon compliance with all other
conditions of approval, and subject to the terms and conditions of this Agreement, the Final Plat
of The Village (at Avon) Filing 3 shall be promptly filed for record with the Office of the Eagle
County Clerk and Recorder.
2. Completion of Work.
(a) Performance. District agrees to furnish all equipment, labor and material
necessary to perform and complete, in a good and workmanlike manner, all improvements and
work incidental thereto as set forth in Exhibit A. District further agrees that it shall be solely
responsible for all costs related to the performance and completion of the Improvements as set
• 16680/Traer 1
May 20, 2004
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Teak J Simonton Eagle, Co 89 R 71. 00 D 0.00
• forth on Exhibit B. All said work shall be performed in accordance with the construction plans
and specifications as submitted to and approved by the Town prior to commencement of
construction of Improvements. All Improvements shall be completed within one (1) year of the
date of the Town's approval of the Final Plat for the Subdivision, subject to extensions for force
majeure events as defined in Section 13 below.
(b) Inspection Procedures.
(1) All work shall be done under the inspection procedures and
standards established by the Town, shall be subject to the reasonable satisfaction of the Town
and shall not be deemed complete until the reasonable approval and acceptance of the
Improvements by the Town. The Town will forward copies of all observation reports to the
District, Subdivider and the District's engineers (who shall be registered in the State of
Colorado) responsible for providing the opinion required by Section 7 hereof.
(2) Designation of Inspectors. Prior to commencement of construction
work on the Improvements, the Town will designate the individuals or independent third parties
employed by the Town who are authorized to inspect the construction of the Improvements.
Such inspections by the Town shall not relieve the District or its agents from any responsibility
or obligation to assure that all work is completed in conformance with standards, plans and
specifications as submitted to and previously approved by the Town.
• (3) Cost of Inspections. The cost of such inspections, whether by
Town employees or an independent third party inspector, shall be paid by the District, subject to
the limitations set forth in paragraph 8 below.
(4) Notice of Non-Compliance. In the event that the Town, through
the inspectors, reasonably determines that the Improvements are not in compliance with the pre-
approved construction plans and specifications, or that additional observation or testing by the
project engineer is necessary to assure compliance, it shall give written notice of such non-
compliance, or additional observation or testing requests, to District's engineers, Subdivider and
the District ("Notice of Non-Compliance"). The Notice of Non-Compliance shall include a
narrative describing the unsatisfactory construction work with specific reference to the applicable
construction plans and specifications. The Notice of Non-Compliance must be provided to
District's engineers, Subdivider and the District within two (2) working days of the date of the
observation.
Security for Completion of Improvements.
(a) Security. To secure completion of the Improvements, the District hereby
agrees to secure its obligations under this Agreement with Collateral in accordance with Section
16.24. 100 of the Code. Collateral shall be one or a combination of the following: cash or its
• 16680/Traer 2 May 20, 2004
IIIIIIIII~IIIIIIIIIhI~IIIIIIIIIIIIIIII~InIIIN X821; 8~ 33P
Teak J
• equivalent; securities of acceptable value; letter of credit; bond for warranty period only; and
land of acceptable value by deed of trust.
(b) Substitution of Securi ty. The District may substitute another form of
collateral acceptable to the Town in place of the forms of security set forth below in order to
guaranty the faithful completion of the Improvements and the performance of the terms of this
Agreement.
4. District's Obligations Concerning Improvements.
(a) Funding Resolution. The District has adopted a resolution (the "Funding
Resolution") attached hereto as Exhibit C authorizing the District's execution of this Agreement
and providing for the appropriation, segregation and use of funds in an amount sufficient to
guarantee the construction of the Improvements set forth on Exhibit A. The estimated costs of
completion of the Improvements are set forth on Exhibit B attached hereto and incorporated
herein by reference.
The Funding Resolution specifically provides that all funds referenced therein are
unencumbered and free from claims of others such that, if necessary, any requests for payment
approved by the Town may be promptly honored. As a condition to recordation of the Final Plat,
the District shall provide the Town Engineer with evidence that such funds have been
appropriated and segregated in a separate account (the "Security Account") and identified for use
• in connection with this Agreement. The District shall renew the Funding Resolution at the
beginning of each subsequent calendar year until all Improvements have received final
acceptance or until the District provides substitute collateral acceptable to the Town.
(b) Progress Payments on Improvements. The District may make progress
payments to its contractors from the Security Account on a monthly basis upon the partial
completion of itemized improvements which have been set forth on Exhibit A and upon fifteen
(15) day's prior written notice including an itemized statement of the District to the Town. The
District shall retain ten percent (10%) of the amount of each payment until final completion and
acceptance of all work covered by each construction contract; provided however, when the value
of work completed has progressed to fifty percent (50%) of the contract amount, the District shall
not be required to withhold additional retainage for the remainder of the work under such
contract. The (10 ten percent retainage of the value of work completed may be reinstated if in
the Town's opinion the lack of progress or other substantial reasons exist. Except for the
foregoing, in no event shall any progress payment cause the remaining sum to be available in the
Security Account for subsequent disbursements to be less than one hundred ten percent (110%)
of the costs to complete all remaining Improvements as estimated at the time of each progress
payment. Upon completion of all work related to the Improvements, the Town's acceptance of
the Improvements and the expiration of the Warranty Period set forth in paragraph 5 below, the
Town shall release any further interest in the Security Account.
• 16680/Traer 3
May 20, 2004
;
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Teak J Simonton Eagle, CO 89 R 71. 00 D 0. 00
• (c) Default by District. In the event of a default in whole or in part by the
District, the Town shall be authorized to access the funds in the Security Account for the purpose
of undertaking completion or remediation work on the Improvements after providing thirty (30)
days advance notice of default to Subdivider and the District and providing an opportunity during
such period for the District and the Subdivider to cure the default. The Town shall be entitled to
draw on the Security Account by Resolution of the Town Council stating (i) that the District is in
default, and (ii) the funds are required in order to complete or correct work on the Improvements.
District funds identified in the Funding Resolution shall be held, whether by the District or the
Town, in compliance with the requirements of C.R.S. 29-1-803(1) for the purpose of providing
for the completion of the Improvements.
5. Warran Period. The Improvements shall be warranted to be free from defects in
workmanship or quality for a period of one (1) year after acceptance of all the work by the Town.
In the event of any such defect, the Town may require the District to correct the defect in material
or workmanship. The amounts for completion of all warranty work on the Improvements shall
be secured by a letter of credit, bond or other acceptable collateral in the amount of one hundred
and ten percent (110%) of the cost of such corrective work to be held by the Town during such
one (1) year period, as a guaranty of performance of any work required under the above-
described warranty. In the event any corrective work is performed during the one (1) year
warranty period then the warranty on said corrected work shall be extended for one (1) year from
the date on which it is completed.
• 6. Condition of Public Dedicated Roadwa s. The District shall at all times prior to
acceptance of any publicly dedicated roadways within the Subdivision by the Town give good
and adequate warning to the traveling public of each and every known dangerous condition
existent in said roads and shall protect the traveling public from such defective or dangerous
conditions. Until the completion of all the Improvements herein agreed to be constructed, roads
not accepted as improved shall be under the charge and control of the District for purposes of this
Agreement; and the District may close all or a portion of any street or road within the
Subdivision whenever it is necessary to protect the traveling public during the construction or
installation of the Improvements herein agreed to be made.
7. Engineer's Opinion. Upon completion of portions of the Improvements, the
District will cause its engineers (who shall be registered in the State of Colorado) to provide a
written opinion that the installation of the Improvements, or portions thereof as may be
completed from time to time, have been completed in general conformance with standards, plans
and specifications as submitted to and previously approved by the Town. Inspection reports, test
results and other supporting documentation shall be submitted with the opinion. The engineer's
opinion shall also include a statement that the opinion is based on a reasonable review and
investigation of all observation reports by the Town inspectors and that all issues of "Non-
Compliance" and additional observation and testing requests that have been provided to the
• 16680/Traer 4 May 20, 2004
111111 VIII1111111 VIII eI IIU IuIIII III IINI IIII IIN, 88z ''8; ,.o
Teak J Simonton l, CO 89 R 71.
• engineer were addressed to their satisfaction prior to the issuance of engineer's opinion.
8. Subdivision and Inspection Fees. Fees in accordance with the Town's
Subdivision Regulations for the review of Preliminary Plans and Final Plats have been paid in
full. Additional fees shall be paid to the Town by the District within thirty (30) days after
delivery of written invoice for such fees to cover the cost of inspections by the Town. The fees
will be based on direct (out-of-pocket) costs of the Town plus an administrative fee in the
amount of fifteen (15%) percent of the direct costs, but in no event will the total amount of such
additional fees exceed five percent (5%) of construction costs.
9. No Obligation of Town to Complete Improvements. Subdivider and the District
agree that in the event the District shall fail to perform its obligations as set forth herein, the
Town shall be under no obligation to complete or perform any of the Improvements. No one,
individually or otherwise, other than the parties hereto, shall acquire, as a result of this
Agreement, any rights, claims or obligations from or against the Town, its agents, employees or
officers. Actions by the Town against the District to enforce any provision of this Agreement
shall be at the sole discretion of the Town. Except in the event the Subdivider completes cure of
the District default and thereby is entitled to require the Town to accept the Improvements, no
third parties (including the Subdivider) shall have any rights to require any action by the Town
pursuant to this Agreement and this Agreement shall not create a liability on the part of or be a
cause of action against the Town, for any personal or property damage that may result to any
third parties (including the Subdivider) from the failure of the District to complete the
improvements herein specified.
10. Non-Liability of Town, Indemnification. The Town shall not, nor shall any
officer, agent, or employee thereof, be liable or responsible for any accident, loss or damage
related to the work specified in this Agreement, nor shall the Town, nor any officer, agent or
employee thereof, be liable for any persons or property injured by reason of the nature of said
work. To the extent permitted by law, the District hereby agrees to indemnify and hold harmless
the Town, and any of its officers, agents and employees against any losses, claims, damages or
liabilities to which the Town or any of its officers, agents or employees may become subject,
because of any losses, claims, damages or liabilities (or actions in respect thereof) that arise out
of, or are based upon, any acts or omissions in the performance of the obligations of the District
as hereinbefore stated. Furthermore, the District shall reimburse the Town for any and all legal
or other expenses reasonably incurred by the Town in connection with investigating or defending
any such loss or claim.
11. Rights of Town in Event of Default. In the event that the District defaults in
whole or in part in the performance of this Agreement, and after the expiration of thirty (30) days
after having given written notice to Subdivider and the District of such default during which
period of time the Subdivider or the District failed to correct said default, the Town may, at its
sole discretion, proceed with the construction or completion of the Improvements specified on
• 16680/Traer 5 May 20, 2004
~~~p~~~~~p~~~lu~~~u~~~~~~~~~~n~~U .~82 ae,.,P
Exhibit A. All such costs paid by the Town for such Improvements (or paid by Subdivider if it
chooses, in its sole and exclusive discretion, to cure the District's default), together with all costs
of personnel, equipment and other matters expended by the Town (or Subdivider in the event
Subdivider undertakes a cure of the District's default as aforesaid) in furtherance of the
construction responsibilities of the District, shall be paid by the District. Any such costs relating
to the Improvements, which have not been reimbursed by the District to the Town or Subdivider,
as applicable, shall be a lien on any property in the Subdivision conveyed to the District
contemporaneously with recordation of the final plat of The Village (at Avon) Filing 3. Said lien
may be foreclosed in the same manner as a mortgage and shall entitle the Town or Subdivider, as
applicable, to add its costs and reasonable attorneys' fees in such foreclosure or other collection.
Without limiting the foregoing, the Town and/or Subdivider may, but shall not be obligated to,
bring a mandatory injunction action against the District to require installation and construction of
the Improvements, if not constructed within the time limits described in this Agreement. If any
such action is brought by, the Town and/or Subdivider, the Town or Subdivider, as applicable,
shall be awarded its court costs and reasonable attorneys' fees.
12. Letter Certi ing Completion and Final Acceptance of Improvements. When all
Improvements have been completed and accepted by the Town, and the Warranty Period has
expired, the Town agrees that it will issue a letter, in recordable form, certifying that all
obligations of Subdivider and the District under this Agreement have been satisfied.
13. Force Majeure. Whenever a party is required to perform an act under this
Agreement by a certain time, said time shall be deemed extended so as to take into account
events of "Force Majeure." "Force Majeure" is any of the following events that prevents, delays,
retards or hinders a Party's performance of its duties hereunder: act of God; fire; earthquake;
flood; explosion; war; invasion; insurrection; riot; mob violence; sabotage; vandalism; inability
to procure or general shortage of labor, equipment, facilities, materials or supplies in the open
market; failure of transportation; strikes; lockouts; litigation; condemnation; requisition;
governmental, civil, military or naval authorities; or any similar cause not within such party's
control.
14. Amendments. This Agreement may be amended from time to time, provided that
such amendment is in writing and signed by all parties hereto.
15. Covenants Running with the Land. This Agreement and the obligations hereof
shall be deemed to be covenants running with the land and shall be binding on the successors and
assigns of the parties hereto.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date
first above written.
0 16680JTraer 6 May 20, 2004
882178
Page: 6 of 14
06/29/2004 01:33P
Teak J Simonton Eagle, CO 89 R 71.00 D 0. 00
(SIGNATURE PAGE TO
SUBDIVISION IMPROVEMENT AGREEMENT
THE VILLAGE (AT AVON) FILING 31
TOWN OF AVON, a Colorado
municipal corporation
AT
Tow "I k Mayor
APPROVED AS TO FORM:
To n Attorney
*V~ CF ~"g::o.•••••~ :4ti TRAER CREEK-RP LLC, a Colorado limited
r? • liability company
e J~ tt r
By: TRAER CREEK LLC, a Colorado limited
liability company, its Manager
-7'j
agnu indholm, Manager
AN DISTRICT, a
TRAER CREEK &anX~'
quasi-municipal? By:
40 16680/Traer 7 May 20, 2004
111111 VIII1111111 VIII IIII IIII IIINII111llnl hll l~l 88n "e, ,,o
Teak J Simonton Eagle, CC 89 R 71. 00 D 0. 00
i
s
EXHIBIT A
DESCRIPTION OF IMPROVEMENTS
I. Mobilization
II. Roads - Includes Excavation, Embankment, Retaining Walls, Fine Grading, Sub-Base
Materials & Preparation, Concrete Curb, Gutter, Medians, Crosspans, Rec Path & Sidewalks,
Asphalt Paving and Asphalt Rec Path, Guardrail, Pedestrian Rail, Pedestrian Tunnel, Paved
Crosswalks, Signage, Striping and Other Incidental Construction per Approved Plans &
Documents
A. Post Boulevard from Roundabout 5 through Swift Gulch Road Intersection
B. Swift Gulch Road from The Village (at Avon) Filing 2 to Post Boulevard
Intersection
M. Utilities
A. Water
B. Sewer
III. Slope Protection & Erosion Control
A. Rip-Rap
B. Erosion Control Matting
C. Silt Fence, Wattles & Other Temporary Erosion Control Facilities
IV. Storm Drainage
A. Storm Drain Pipes
B. Inlets and Headwalls & Rip-Rap
C. Manholes & End Sections
V. Shallow Utilities
A.
Electric
B.
Telephone
C.
Cable TV
D.
Natural Gas
E.
Conduit for Other
. VI. Street Revegetation & Landscaping
VII. Street Lighting
16680/Traer May 20, 2004
IIIIIIIIIIII Illpll IINIIIVIIII 1111111 IIIIIAINIIIUI 82 8 of 8. :33P
Teak J
EXHIBIT B
• COST ESTIMATE OF IMPROVEMENTS
• EIuIUIII~IIINIII~I~IIIIII~IIII , INIIInnIR 71. IUN,~BZ''e;,,
Teak J
Swift Gluch Road Traer Creek Metro. District Unit Price Comparisons
24 MAY 04
CJ
4
L
Q
tit
G
ould
Description
uan
y
Unit Price
Total $
1 GENERAL
2
Mobilization
1
LS
125,750.00
125,750.00
3
Construction Surveying/Layout
1
LS
43,395.00
43,395.00
4
Subtotal
169,145.00
5 ROADS
6
Clearing
1
LS
33,850.00
33,850.00
7
Topsoil Remove and Stockpile (6")
11,534
CY
2.35
27,104.90
8
Topsoil Replace (4")
3,770
CY
6.30
23,751.00
9
Excavation Placed as Embankment
72,867
CY
3.10
225,887.70
10
Excavation Export and Place in Stockpile
54,841
CY
2.35
128,876.35
11
Soil Nail Walls with Block Veneer
13,723
SF
52.55
721,143.65
12
MSE Walls using Modular Block Units
2,573
SF
39.85
102,534.05
13
Guardrail
1,920
LF
16.00
30,720.00
14
Guardrail End. Anchors
6
EA
760.00
4,560.00
15
Concrete Curb and Gutter
2,424
LF
13.50
32,724.00
16
3' Concrete Pan
69
LF
26.40
1,821.60
19
Asphalt (4" thick)
2,522
TON
46.80
118,029.60
20
Asphalt (9". thick)
1,510
TON
46.80
70,668.00
21
Precast Tumbled Pavers
941
SF
12.75
12,001.70
22
18". Cast-in-Place Concrete. Band
144
LF
23.70
3,412.80
23
Type 2 (Ilm). Mountable Curb. and Gutter
270
LF
20.00
5,400.00
24
Type 1. ADA Ramp
4
EA
800.00
3,200.00
25
Median Spill Curb and Gutter
1,342
LF
16.00
21,472.00
26
Line Striping
14,196
LF
0.40
5,678.40
'
27
Signs
32
EA
500.00
16,000.00
28
Barricade. (Type 3M-A)
4
EA
600.00
2,400.00
29
Pedestrian Tunnel
1
LS
160,100.00
160,100.00
30
Pedestrian Rail
959
LF
7.80
7,480.20
31
Concrete. Rec. Path. (6". thick). 10'. wide
1,173
SY
31.50
36,949.50
32
Asphalt (3" thick). Rec Path
:
::1,289
.
:::TON
47:95•::.;:.;:
.::.;:.;:.>:•>:.;;61,807:55
.
:
.
.:::.::1
34
Chain Link Fence. (M-607-2) Single Gate
2
EA
3,260.00
6,520.00
35
Subtotal
2,024,952.40
36
WATER
37
6'. DIP
163
LF
44.00
7,172.00
38
8". DIP
1;391
LF
46.30
64,403.30
39
16". DIP
478
LF
66.00
31,548.00
40
6" Gate. Valve
4
EA
800.00
3,200.00
41
8". Gate Valve
5
EA
1,085.00
5,425.00
42
16". Gate. Valve
2
EA
4,530.00
9,060.00
43
Air Release Vault
2
EA
2,800.00
5,600.00
44
Relocate Air Release Vault
1
LS
2,800.00
2,800.00
45
Fire Hydrant Assembly
4
EA
3,240.00
12,960.00
46
Water Service Lines (1-1/2". diam.)
1
EA
2,400.00
2,400.00
Copper
47
Irrigation Meter. Pit
1
EA
1,750.00
1,750.00
48
Subtotal
146,318.30
49
SLOPE PROTECTION AND. EROSION CON
TROL
50
Stabilized Construction Entrance
3
EA
1,600.00
4,800.00
51
Silt Fence
865
LF
1.70
1,470.50
52
Rip-Rap (inlet/outlet protection) d50=9"
58
LF
24.00
1,392.00
53
Rip-Rap (inleUoutlet protection). d50=12"
16
LF
24.00
384.00
/
"
60
00
380
00
7
54
Rip-Rap (inlet/outlet protection) d50=18
123
LF
.
.
,
55
Riprap (inlet/outlet protection) d50=24"
11
LF
90.00
990.00
56
Straw Bale Dike
2
EA
75.00
150.00
IIIIIIIIIIIIIIIIIUIIIIIIIIIIIVIIIIIIIIIIIIIIRIIIINI 82= e,~.,.
Swift Gluch Road Traer Creek Metro District Unit Price Comparisons
24 MAY 04
1
Gould
tion
Descri
F Quantit
p
y
Unit Price
Total $
57
Wattle
36
EA
115.00
4,140.00
58
Beaver Dam (inlet protection)
9
EA
260.00
2,340.00
59
Silt Sack (inlet protection)
17
EA
125.00
2,125.00
60
Erosion Control Matting (14' wide)
192
LF
3.10
595.20
LandLok 450
61
Erosion Control Matting (4' wide)
2,319
LF
1.20
2,782.80
Land Lok 450
62
Reve etation
1
LS
18,545.00
18,545.00
63
Subtotal
47,094.50
64
DRAINAGE
65
Mountable Curb Inlet
1
EA
2,200.00
2,200.00
66
C Inlet
12
EA
2,475.00
29,700.00
67
D Inlet
4
EA
3,300.00
13,200.00
68
2x6 Curb. Inlet
1
EA
3,650.00
3,650.00
69
2x3 Valley Inlet
1
EA
2,245.00
2,245.00
70
5' Type R Inlet
5
EA
4,300.00
21,500.00
71
18". CMP .
159
LF
39.95
6,352.05
72
18" RCP
711
LF
37.45
26,626.95
73
21".RCP
558
LF
41.50
23,157.00
74
24" RCP
21
LF
52.00
1,092.00
75
24 CMP
576
LF
41.50
23,904.00
76
36". CMP
290
LF
57.25
16,602.50
77
84" CMP
87
LF
220.00
19,140.00
78
84" Headwalls plus RipRap
1
LS
38,300.00
38,300.00
79
24" CMP. End Sections
12
EA
430.00
5,160.00
80
36". CMP. End Sections
2
EA
535.00
1,070.00
81
4Diam Storm Drain Manhole
2
EA
2,600.00
5,200.00
82
Subtotal
239,099.50
83
SEWER
84
8". PVC
1,560
LF
36.00
56,160.00
85
6". PVC. Services
140
LF_
36.00
5,040.00
86
Encasement
100
LF
45.00
4,500.00
87
SDR.17 HDPE 100 psi
335
LF
20.00
6,700.00
88
Manhole
10
EA
2,800.00
28,000.00
89
Sewer Video
1,620
LF
1.50
2,430.00
90
Subtotal
102,830.00
91
SHALLOW. UTILITIES
92
Trenching
7,174
LF
10.00
71,740.00
93
Electric Conduit 6". (install only)
2,955
LF
0.85
2,511.75
94
Electric. Conduit 4" (install only)
16,631
LF
0.85
14,136.35
95
Telephone Conduit 4"
2,914
LF
2.00
5,828.00
96
Cable TV Conduit 4'
2,914
LF
2.00
5,828.00
97
Secondary Electric 4" Conduit and Wire
1,042
LF
2.00
2,084.00
98
Secondary Electric 2" Conduit and Wire
3,055
LF
1.00
3,055.00
99
Communications 4484-TCA Vault
7
EA
4,840.00
33,880.00
100
Electric UM 35L Splice Vault (install only)
7
EA
.600.00
4,200.00
101
Boulder. Walls
720
SF
20.00
14,400.00
102
12" RCP
60
LF
26.45
1,587.00
103
4". Fiber Optic Conduit
1,457
LF
2.00
2,914.00
104
6" Spare Conduit
9,549
LF
2.60
24,827.40
105
4'. Spare Conduit
9,321
LF
2.00
18,642.00
106
Handhole
18
EA
200.00
3,600.00
107
12" x8" x6" Fiberglass Pullbox
7
EA
200.00
1,400.00
108
Subtotal
210 633.50
109
Landscaping (Allowance)
1
LS
30,000.00
30,000.00
110
Lighting, Allowance
1
LS
55,000.00
55,000.00
I
Total
1
1
1 3,025,073.20
882178
Page: 11 of 14
Teak J Simonton Eagle, Co 89 R 71.00 6/29D20.00 1:33P
Ll
w
EXHIBIT C
DISTRICT FUNDING RESOLUTION
11111111111111111111111111
Teak J Simonton Eagle, CO
882178
Page: 12 of 14
05/29/2004 01:33P
89 R 71.00 D 0.00
16680/Traer May 20,
2004
RESOLMON
OF TRAER CREEK ME'T'ROPOLITAN DISTRICT
REGARDING APPROPRIATION OF FUNDS UNDER
SUBDIVISION IMPROVEMENTS AGREEMENT
THE VILLAGE (AT AVON MING 3
WjMRE,AS, Traer Creek Metropolitan Disuict (the "District') is a quasi-municipal
corporation and political subdivision of the State of Colorado; and
WHP,REAS, the District is authorized, pursuant to Section 32-1-1001(1)(4)(1), C.R.S., to
enter into contracts and agreements affecting the aff. airs of the District; and
WHEREAS, the District has entered into a Subdivision Improvements Agreement The
Village (At Avon) Filing 3 dated _June 8 , 2004 (the "SW') with the Town of Avon,
Colorado (the "Town') and Traer Creek-RP L LC, a Colorado limited liability company
("Subdivider') regarding the funding and/or construction of public infrastlitcture improvements
in connection with the approval of the final Plat of The Village (at Avon) Filling 3, Town of
Avon, Eagle County, Colorado; and
WHEREAS, the District is responsible for the performance and completion of public
improvements assigned on Exhibit A of the SxA (the "District Improvements'j;
NOW, THEREFORB, Bli IT RESOLVFA BY THE BOARD OF DMECTORS OF
TRAER CREEK METR,OPOLTTAN DISTRICT AS FOLLOWS:
1. The Board of Directors hereby finds, derennines and declares that it is in the best
interest of the District to execute and deliver to the Town the SIA and the appropriate officers of
the District are hereby authorized to execute and deliver such SIA to the Town.
2. The Board of Directors hereby appropriates, reserves and allows for tender to the
Town pursuant to the SIA available hinds of the District in, an amount not less than
$3,025,273.20 (the "Funds") to guarantee construction of the District Improvements.
3. The Board of Directors hereby certifies to the Town Council that the Funds are
unegcumbered and free from claims of others so that any requests of the Town for payment
under the SIA maybe promptly honored. The Board of Directors futtber certifies to the Town
Council that the Funds have been set aside in a separate account and identified for the purposes
recited herein and that such Funds shall be held in compliance with the requirements of Section
29-1-803(1), C.R.S., for the purpose of providing for the completion of the District
Improvements.
4. This Resolution shall be renewed at the beginning of each subsequent calendar
year umil all the District Improvements have received final acceptance or until the District
provides 505tituto collateral acceptable to the Town.
882178
Page: 13 of 14
{000191Z].DOCw.l) 06/29/2004 01:33P
Teak J Simonton Eagle, CO 89 R 71.00 D 0.00
1
[SIGNATURE PUAGF, FOR
SU'BDM YON RESOLUTION IMPROVEN[ENTS AGREEMENT APPROPRIATION OF FUNDS
J THE VILLAGE (AT AVON) FILING 31
APPROVED AND ADOPTED this I'L'L day of
By.
AttcsC:
firic plcpte, Secretary
882178
Page: 14 of 14
06/29/2004 01:33P
Teak J Simonton Eagle, CO 89 R 71.00 D 0.00
(00019223.Doc v:l) 2
4
TOWN OF AVON, COLORADO
RESOLUTION NO. 04-17
Series of 2004
A RESOLUTION APPROVING FINAL PLAT AND
SUBDIVISION IMPROVEMENTS AGREEMENT FOR
THE VILLAGE (at Avon) FILING 3, TOWN OF
AVON, EAGLE COUNTY, COLORADO
WHEREAS, Traer Creek-RP LLC, the owner of the applicable portion of The
Village (at Avon) has filed a Final Plat and Subdivision Improvements Agreement for The
Village (at Avon) Filing 3, Town of Avon, Eagle County, Colorado for approval in
accordance with Chapter 16.20 of the Avon Municipal Code; and
WHEREAS, on April 27, 2004, the Town held a public hearing at which it
received evidence and testimony concerning the Preliminary Plan for The Village (at
Avon) Filing 3, at the conclusion of which the Town Council considered such evidence
and testimony and approved the Preliminary Plan by adoption of Resolution 04-15; and
WHEREAS, the Final Plat is in general conformance with the Preliminary Plan as
approved by Resolution No. 04-15; and
WHEREAS, the Final Plat is subject to the terms and conditions of the
Annexation and Development Agreement dated October 13, 1998 and any amendments
or modifications thereto; and
WHEREAS, the Final Plat is subject to the terms and conditions of the P.U.D.
Guide and P.U.D. Development / Sketch Plan dated October 13, 1998 and any
amendments or modifications thereto; and
WHEREAS, the attached Subdivision Improvements Agreement provides for the
construction of the public improvements required for development of The Village (at
Avon) Filing 3 Subdivision and the securities to assure completion of the public
improvements as required by Section 16.24.100 of the Avon Municipal Code.
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE
TOWN OF AVON, COLORADO, that the Town hereby finds and determines that the
Final Plat and Subdivision Improvements Agreement for The Village (at Avon) Filing 3 is
in general conformance with the Preliminary Plan as approved by Town of Avon
Resolution No. 04-15 and other applicable development laws, regulations and policies of
the Town of Avon and hereby approves the same subject to completion of technical
corrections as identified by Town Staff and the submission to and acceptance by, the
Town of Avon, of the following items prior to recording of the Final Plat and Subdivision
Improvements Agreement:
A. Copy of "Resolution of Traer Creek Metropolitan District Regarding Appropriation
of Funds Under Subdivision Improvements Agreement" as duly adopted and executed
by District Board of Directors (Subdivision Improvements Agreement Exhibit C); and
B. Construction plans, specifications and related documents for construction of
public improvements as identified in Subdivision Improvements Agreement Exhibits A
and B as amended to address technical corrections identified by Town Staff; and
C. Addition of drainage easements and stream setbacks to Final Plat, in accordance
with Town of Avon Subdivision Regulations.
ADOPTED THIS a5 DAY OF MAY, 2004.
TOWN COUNCIL
TOWN OF AVON, COLORADO
*Albert D. Reynolds, Ma r
ATTEST:
G
PO y M enny, S 1j A I~
To rk
J
Resolution No. 04-17 Final Plat Filing 3 V@A
Memo
To: Honorable Mayor and Town Council
Thru: Larry Brooks, Town Manager
From: Norm Wood, Town Engineer
Date: May 20, 2004
Re: The Village (at Avon) Filing 3 - Final Plat and Subdivision Improvements
Agreement / Resolution No. 04-17, Series of 2004
Summary: Traer Creek-RP LLC has submitted a Final Plat and related
Subdivision Improvements Agreement (SIA) for The Village (at Avon) Filing 3. This is a
subdivision of a parcel of land located in the Southeast '/4 of Section 7 and in the West %2
of the Southwest '/4 of Section 8, Township 5 South, Range 81 West of the 6th Principal
Meridian in the Town of Avon, Eagle County, Colorado. This area includes all or
portions of the P.U.D. Planning areas OS-5, N, G and RMF-1. The submittal includes
construction plans for the extension of Swift Gulch Road and corresponding Bike Path
from Buffalo Ridge (Filing 2) to Post Boulevard north of the new I-70 Interchange.
Traer Creek Metropolitan District will be a party to the SIA in addition to Traer Creek-RP
LLC. The Final Plat is in conformance with the Preliminary Plan that was previously
approved by Resolution No. 04-15, Series of 2004. The Subdivision Improvements
Agreement provides for construction of the public improvements required to serve the
proposed subdivision and for the provision of securities to assure completion of the
improvements. The SIA also establishes guidelines for quality control, release of
securities as construction is completed and establishes the warranty period for the
completed improvements.
The public improvements generally consisting of streets, roads, water, sewer and storm
drainage facilities will be constructed by Traer Creek Metropolitan District. The security
for the completion of these improvements will be in the form of a District Fund in an
amount equal to the cost of the improvements estimated at $3,324,003 and established
solely for this purpose. This fund will be established by a "Resolution of Traer Creek
Metropolitan District Regarding Appropriation of Funds Under Subdivision
Improvements Agreement" (Exhibit C) to the Subdivision Improvements Agreement.
1:\Engineering\Avon Village\4.0 Filing 3\4.5 Final Plat\4.5.2 Permits & Approvals\Res 04-17 Approval Memo.Doc 1
The proposed Final Plat and SIA are in conformance with the Annexation and
Development Agreement, The Village (at Avon) P.U.D. Guide and P.U.D. Development
Plan as Amended and has no effect on existing zoning. Approval of this Final Plat and
SIA is recommended.
Recommendations: Approve Resolution No. 04-17, Series of 2004, A
Resolution Approving Final Plat and Subdivision Improvements Agreement for The
Village (at Avon) Filing 3, Town of Avon, Eagle County, Colorado.
Proposed Motion: I move to approve Resolution No. 04-17, Series of 2004, A
Resolution Approving Final Plat and Subdivision Improvements Agreement for The
Village (at Avon) Filing 3, Town of Avon, Eagle County, Colorado.
Town Manager Comments:
MEngineering\Avon Village\4.0 Filing 3\4.5 Final Plat\4.5.2 Permits & Approvals\Res 04-17 Approval Memo.Doc 2
• SUBDIVISION IMPROVEMENTS AGREEMENT
THE VILLAGE (AT AVON) FILING 3
THIS AGREEMENT, made and entered into this day of J~~ , 2004,
is by and among Traer Creek-RP LLC, a Colorado limited liability company ("Subdivider"),
Traer Creek Metropolitan District, a quasi-municipal corporation and political subdivision of the
State of Colorado (the "District"), and the Town of Avon, a Colorado municipality, by and
through its Council (the "Town").
RECITALS
WHEREAS, Subdivider and the District, in connection with the approval of the final plat
for The Village (at Avon) Filing 3, consisting of 108.720 acres in the SE 1/4 of Section 7 and in
the W % of the SW %4 of Section 8, T. 5 S., R. 81 W. , of the 6th P.M., Town of Avon, Eagle
County, Colorado (the "Subdivision"), desire to enter into a Subdivision Improvements
Agreement with the Town as provided for by Section 16.24. 100 of the Avon Municipal Code, as
amended (the "Code"); and
WHEREAS, pursuant to the Code, the Town desires to make reasonable provisions for
completion of certain public improvements (the "Improvements") set forth in Exhibit A attached
hereto and incorporated herein by reference; and
• WHEREAS, the District is responsible for the performance and completion
of the
Improvements.
AGREEMENT
NOW THEREFORE, in consideration of the following mutual covenants, conditions
and promises, the parties hereby agree as follows:
1. Final Plat Approval. The Town agrees that upon compliance with all other
conditions of approval, and subject to the terms and conditions of this Agreement, the Final Plat
of The Village (at Avon) Filing 3 shall be promptly filed for record with the Office of the Eagle
County Clerk and Recorder.
2. Completion of Work.
(a) Performance. District agrees to furnish all equipment, labor and material
necessary to perform and complete, in a good and workmanlike manner, all improvements and
work incidental thereto as set forth in Exhibit A. District further agrees that it shall be solely
responsible for all costs related to the performance and completion of the Improvements as set
is 16680/Traer 1
May 20, 2004
882178
Page: I of 14
06/29/2004 01:33P
Teak J Simonton Eagle, Co 89 R 71.00 D 0.00
• forth on Exhibit B. All said work shall be performed in accordance with the construction plans
and specifications as submitted to and approved by the Town prior to commencement of
construction of Improvements. All Improvements shall be completed within one (1) year of the
date of the Town's approval of the Final Plat for the Subdivision, subject to extensions for force
majeure events as defined in Section 13 below.
(b) Inspection Procedures.
(1) All work shall be done under the inspection procedures and
standards established by the Town, shall be subject to the reasonable satisfaction of the Town
and shall not be deemed complete until the reasonable approval and acceptance of the
Improvements by the Town. The Town will forward copies of all observation reports to the
District, Subdivider and the District's engineers (who shall be registered in the State of
Colorado) responsible for providing the opinion required by Section 7 hereof.
(2) Designation of Inspectors. Prior to commencement of construction
work on the Improvements, the Town will designate the individuals or independent third parties
employed by the Town who are authorized to inspect the construction of the Improvements.
Such inspections by the Town shall not relieve the District or its agents from any responsibility
or obligation to assure that all work is completed in conformance with standards, plans and
specifications as submitted to and previously approved by the Town.
0 (3) Cost of Inspections. The cost of such inspections, whether by
Town employees or an independent third party inspector, shall be paid by the District, subject to
the limitations set forth in paragraph 8 below.
(4) Notice of Non-Compliance. In the event that the Town, through
the inspectors, reasonably determines that the Improvements are not in compliance with the pre-
approved construction plans and specifications, or that additional observation or testing by the
project engineer is necessary to assure compliance, it shall give written notice of such non-
compliance, or additional observation or testing requests, to District's engineers, Subdivider and
the District ("Notice of Non-Compliance"). The Notice of Non-Compliance shall include a
narrative describing the unsatisfactory construction work with specific reference to the applicable
construction plans and specifications. The Notice of Non-Compliance must be provided to
District's engineers, Subdivider and the District within two (2) working days of the date of the
observation.
Security for Completion of Improvements.
(a) Securi . To secure completion of the Improvements, the District hereby
agrees to secure its obligations under this Agreement with Collateral in accordance with Section
16.24. 100 of the Code. Collateral shall be one or a combination of the following: cash or its
• 16680/Traer 2 May 20, 2004
N N m„~u 882178
IIIIIIIIIIIII IIIII~IIIIIIIIXIw:'::p=aw ivo
Teak J Sim ton tagle, CO
• equivalent; securities of acceptable value; letter of credit; bond for warranty period only; and
land of acceptable value by deed of trust.
(b) Substitution of Securi ty. The District may substitute another form of
collateral acceptable to the Town in place of the forms of security set forth below in order to
guaranty the faithful completion of the Improvements and the performance of the terms of this
Agreement.
4. District's Obligations Concerning Improvements.
(a) Funding Resolution. The District has adopted a resolution (the "Funding
Resolution") attached hereto as Exhibit C authorizing the District's execution of this Agreement
and providing for the appropriation, segregation and use of funds in an amount sufficient to
guarantee the construction of the Improvements set forth on Exhibit A. The estimated costs of
completion of the Improvements are set forth on Exhibit B attached hereto and incorporated
herein by reference.
The Funding Resolution specifically provides that all funds referenced therein are
unencumbered and free from claims of others such that, if necessary, any requests for payment
approved by the Town may be promptly honored. As a condition to recordation of the Final Plat,
the District shall provide the Town Engineer with evidence that such funds have been
appropriated and segregated in a separate account (the "Security Account") and identified for use
• in connection with this Agreement. The District shall renew the Funding Resolution at the
beginning of each subsequent calendar year until all Improvements have received final
acceptance or until the District provides substitute collateral acceptable to the Town.
(b) Progress Payments on Improvements. The District may make progress
payments to its contractors from the Security Account on a monthly basis upon the partial
completion of itemized improvements which have been set forth on Exhibit A and upon fifteen
(15) day's prior written notice including an itemized statement of the District to the Town. The
District shall retain ten percent (10%) of the amount of each payment until final completion and
acceptance of all work covered by each construction contract; provided however, when the value
of work completed has progressed to fifty percent (50%) of the contract amount, the District shall
not be required to withhold additional retainage for the remainder of the work under such
contract. The (10 ten percent retainage of the value of work completed may be reinstated if in
the Town's opinion the lack of progress or other substantial reasons exist. Except for the
foregoing, in no event shall any progress payment cause the remaining sum to be available in the
Security Account for subsequent disbursements to be less than one hundred ten percent (110%)
of the costs to complete all remaining Improvements as estimated at the time of each progress
payment. Upon completion of all work related to the Improvements, the Town's acceptance of
the Improvements and the expiration of the Warranty Period set forth in paragraph 5 below, the
Town shall release any further interest in the Security Account.
• 16680/Traer 3
May 20, 2004
IIIIIIIIIIIIII~IIIIIIIIIIUIIIIIIIIIIIIVIIIIIIflINII 882~'e,
Teak J Simonton Eagle, CO 89 R 71. 00 D 0. 00
• (c) Default by District. In the event of a default in whole or in part by the
District, the Town shall be authorized to access the funds in the Security Account for the purpose
of undertaking completion or remediation work on the Improvements after providing thirty (30)
days advance notice of default to Subdivider and the District and providing an opportunity during
such period for the District and the Subdivider to cure the default. The Town shall be entitled to
draw on the Security Account by Resolution of the Town Council stating (i) that the District is in
default, and (ii) the funds are required in order to complete or correct work on the Improvements.
District funds identified in the Funding Resolution shall be held, whether by the District or the
Town, in compliance with the requirements of C.R.S. 29-1-803(1) for the purpose of providing,
for the completion of the Improvements.
5. Warranty Period. The Improvements shall be warranted to be free from defects in
workmanship or quality for a period of one (1) year after acceptance of all the work by the Town.
In the event of any such defect, the Town may require the District to correct the defect in material
or workmanship. The amounts for completion of all warranty work on the Improvements shall
be secured by a letter of credit, bond or other acceptable collateral in the amount of one hundred
and ten percent (110%) of the cost of such corrective work to be held by the Town during such
one (1) year period, as a guaranty of performance of any work required under the above-
described warranty. In the event any corrective work is performed during the one (1) year
warranty period then the warranty on said corrected work shall be extended for one (1) year from
the date on which it is completed.
• 6. Condition of Public Dedicated Roadways. The District shall at all times prior to
acceptance of any publicly dedicated roadways within the Subdivision by the Town give good
and adequate warning to the traveling public of each and every known dangerous condition
existent in said roads and shall protect the traveling public from such defective or dangerous
conditions. Until the completion of all the Improvements herein agreed to be constructed, roads
not accepted as improved shall be under the charge and control of the District for purposes of this
Agreement; and the District may close all or a portion of any street or road within the
Subdivision whenever it is necessary to protect the traveling public during the construction or
installation of the Improvements herein agreed to be made.
7. Engineer's Opinion. Upon completion of portions of the Improvements, the
District will cause its engineers (who shall be registered in the State of Colorado) to provide a
written opinion that the installation of the Improvements, or portions thereof as may be
completed from time to time, have been completed in general conformance with standards, plans
and specifications as submitted to and previously approved by the Town. Inspection reports, test
results and other supporting documentation shall be submitted with the opinion. The engineer's
opinion shall also include a statement that the opinion is based on a reasonable review and
investigation of all observation reports by the Town inspectors and that all issues of "Non-
Compliance" and additional observation and testing requests that have been provided to the
• 16680/Traer 4
May 20, 2004
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• engineer were addressed to their satisfaction prior to the issuance of engineer's opinion.
8. Subdivision and Inspection Fees. Fees in accordance with the Town's
Subdivision Regulations for the review of Preliminary Plans and Final Plats have been paid in
full. Additional fees shall be paid to the Town by the District within thirty (30) days after
delivery of written invoice for such fees to cover the cost of inspections by the Town. The fees
will be based on direct (out-of-pocket) costs of the Town plus an administrative fee in the
amount of fifteen (15%) percent of the direct costs, but in no event will the total amount of such
additional fees exceed five percent (5%) of construction costs.
9. No Obliization of Town to Complete Improvements. Subdivider and the District
agree that in the event the District shall fail to perform its obligations as set forth herein, the
Town shall be under no obligation to complete or perform any of the Improvements. No one,
individually or otherwise, other than the parties hereto, shall acquire, as a result of this
Agreement, any rights, claims or obligations from or against the Town, its agents, employees or
officers. Actions by the Town against the District to enforce any provision of this Agreement
shall be at the sole discretion of the Town. Except in the event the Subdivider completes cure of
the District default and thereby is entitled to require the Town to accept the Improvements, no
third parties (including the Subdivider) shall have any rights to require any action by the Town
pursuant to this Agreement and this Agreement shall not create a liability on the part of or be a
cause of action against the Town, for any personal or property damage that may result to any
third parties (including the Subdivider) from the failure of the District to complete the
improvements herein specified.
10. Non-Liability of Town; Indemnification. The Town shall not, nor shall any
officer, agent, or employee thereof, be liable or responsible for any accident, loss or damage
related to the work specified in this Agreement, nor shall the Town, nor any officer, agent or
employee thereof, be liable for any persons or property injured by reason of the nature of said
work. To the extent permitted by law, the District hereby agrees to indemnify and hold harmless
the Town, and any of its officers, agents and employees against any losses, claims, damages or
liabilities to which the Town or any of its officers, agents or employees may become subject,
because of any losses, claims, damages or liabilities (or actions in respect thereof) that arise out
of, or are based upon, any acts or omissions in the performance of the obligations of the District
as hereinbefore stated. Furthermore, the District shall reimburse the Town for any and all legal
or other expenses reasonably incurred by the Town in connection with investigating or defending
any such loss or claim.
11. Rights of Town in Event of Default. In the event that the District defaults in
whole or in part in the performance of this Agreement, and after the expiration of thirty (30) days
after having given written notice to Subdivider and the District of such default during which
period of time the Subdivider or the District failed to correct said default, the Town may, at its
sole discretion, proceed with the construction or completion of the Improvements specified on
0 16680/Traer 5 May 20, 2004
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Exhibit A. All such costs paid by the Town for such Improvements (or paid by Subdivider if it
chooses, in its sole and exclusive discretion, to cure the District's default), together with all costs
of personnel, equipment and other matters expended by the Town (or Subdivider in the event
Subdivider undertakes a cure of the District's default as aforesaid) in furtherance of the
construction responsibilities of the District, shall be paid by the District. Any such costs relating
to the Improvements, which have not been reimbursed by the District to the Town or Subdivider,
as applicable, shall be a lien on any property in the Subdivision conveyed to the District
contemporaneously with recordation of the final plat of The Village (at Avon) Filing 3. Said lien
may be foreclosed in the same manner as a mortgage and shall entitle the Town or Subdivider, as
applicable, to add its costs and reasonable attorneys' fees in such foreclosure or other collection.
Without limiting the foregoing, the Town and/or Subdivider may, but shall not be obligated to,
bring a mandatory injunction action against the District to require installation and construction of
the Improvements, if not constructed within the time limits described in this Agreement. If any
such action is brought by, the Town and/or Subdivider, the Town or Subdivider, as applicable,
shall be awarded its court costs and reasonable attorneys' fees.
12. Letter Certifying Completion and Final Acceptance of Improvements. When all
Improvements have been completed and accepted by the Town, and the Warranty Period has
expired, the. Town agrees that it will issue a letter, in recordable form, certifying that all
obligations of Subdivider and the District under this Agreement have been satisfied.
13. Force Majeure. Whenever a party is required to perform an act under this
Agreement by a certain time, said time shall be deemed extended so as to take into account
events of "Force Majeure." "Force Majeure" is any of the following events that prevents, delays,
retards or hinders a Party's performance of its duties hereunder: act of God; fire; earthquake;
flood; explosion; war; invasion; insurrection; riot; mob violence; sabotage; vandalism; inability
to procure or general shortage of labor, equipment, facilities, materials or supplies in the open
market; failure of transportation; strikes; lockouts; litigation; condemnation; requisition;
governmental, civil, military or naval authorities; or any similar cause not within such party's
control.
14. Amendments. This Agreement may be amended from time to time, provided that
such amendment is in writing and signed by all parties hereto.
15. Covenants Running with the Land. This Agreement and the obligations hereof
shall be deemed to be covenants running with the land and shall be binding on the successors and
assigns of the parties hereto.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date
first above written.
9 16680/Truer 6 May 20, 2004
IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIVINIAII 88z?'8,.,v
Teak J Simonton Eagle, CO 89 R 71. 00 D 0. 00
• [SIGNATURE PAGE TO
SUBDIVISION IMPROVEMENT AGREEMENT
THE VILLAGE (AT AVON) FILING 31
TOWN OF AVON, a Colorado
municipal corporation
AT .
7 B 6- To Cl k Mayor
APPROVED AS TO FORM:
'ic
To n Attorney
ws TRAER CREEK-RP LLC, a Colorado limited
liability company
4 % By: TR.AER CREEK LLC, a Colorado limited
liability company, its Manager
agnu indholm, Manager
TRAER CREEK `OP AN DISTRICT, a
quasi-municipal 74;a
w
n
By:
40 16680/Traer 7 May 20, 2004
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Teak J Simonton Eagle, CO 89 R 71 .00 0 0.00
EXHIBIT A
DESCRIPTION OF IMPROVEMENTS
1. Mobilization
II. Roads - Includes Excavation, Embankment, Retaining Walls, Fine Grading, Sub-Base
Materials & Preparation, Concrete Curb, Gutter, Medians, Crosspans, Rec Path & Sidewalks,
Asphalt Paving and Asphalt Rec Path, Guardrail, Pedestrian Rail, Pedestrian Tunnel, Paved
Crosswalks, Signage, Striping and Other Incidental Construction per Approved Plans &
Documents
A. Post Boulevard from Roundabout 5 through Swift Gulch Road Intersection
B. Swift Gulch Road from The Village (at Avon) Filing 2 to Post Boulevard
Intersection
III. Utilities
A. Water
B. Sewer
M. Slope Protection & Erosion Control
A. Rip-Rap
B. Erosion Control Matting
• C. Silt Fence, Wattles & Other Temporary Erosion Control Facilities
IV. Storm Drainage
A. Storm Drain Pipes
B. Inlets and Headwalls & Rip-Rap
C. Manholes & End Sections
V. Shallow Utilities
A.
Electric
B.
Telephone
C.
Cable TV
D.
Natural Gas
E.
Conduit for Other
VI. Street Revegetation & Landscaping
VII. Street Lighting
16680/Traer May 20, 2004
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Teak J Simonton Eagle, CO R 71 .00 D 0.00
EXHIBIT B
• COST ESTIMATE OF IMPROVEMENTS
• EIIIIIIIIInIIIInIIII~I~IIIIIIIIIIIIJVIIINN~R 71. ll~w882'8;,,0
Teak J Simonton
Swift Gluch Road Traer Creek Metro. District Unit Price Comparisons
24 MAY 04
171
4 1 54 Rip-Rap (inlet/outlet protection) d50=18" 123 LF 60.00 7,380.00
cl
Qua
tit
Gould
Description
n
L
y
Unit Price
Total $
1 GENERAL
2
Mobilization
1
F
LS
125,750.00
125,750.00
3
Construction Surveying/Layout
1
LS
43,395.00
43,395.00
4
Subtotal
169,145.00
5 ROADS
6
Clearing
1
LS
33,850.00
33,850.00
7
Topsoil Remove and Stockpile (6")
11,534
CY
2.35
27,104.90
8
Topsoil Replace (4")
3,770
CY
6.30
23,751.00
9
Excavation Placed as Embankment
72,867
CY
3.10
225,887.70
10
Excavation Export and Place in Stockpile
54,841
CY
2.35
128,876.35
11
Soil Nail Walls with Block Veneer
13,723
SF
52.55
721,143.65
12
MSE Walls using Modular Block Units
2,573
SF
39.85
102,534.05
13
Guardrail
1,920
LF
16.00
30,720.00
14
Guardrail End Anchors
6
EA
760.00
4,560.00
15
Concrete Curb and Gutter
. 2,424
LF
13.50
32,724.00
16
3. Concrete Pan
69
LF
26.40
1,821.60
::Fr 1 MAN
19
Asphalt (4" thick)
2,522
TON
46.80
118,029.60
20
Asphalt (9", thick)
1,510
TON
46.80
70,668.00
21
Precast Tumbled Pavers
941
SF
12.75
12,001.70
22
18". Cast-in-Place Concrete. Band
144
LF
23.70
3,412.80
23
Type 2 (Ilm). Mountable Curb. and Gutter
270
LF
20.00
5,400.00
24
Type I. ADA Ramp
4
EA
800.00
3,200.00
25
Median Spill Curb and Gutter
1,342
LF
16.00
21,472.00
26
Line. Striping
14,196
LF
0.40
5,678.40
'
27
Signs
32
EA
500.00
16,000.00
28
Barricade. (Type 3M-A)
4
EA
600.00
2,400.00
29
Pedestrian Tunnel
1
LS
160,100.00
160,100.00
30
Pedestrian Rail
959
LF
7.80
7,480.20
31
Concrete. Rec. Path. (6". thick). 10', wide
1,173
SY
31.50
36,949.50
32
Asphalt (3" thick). Rec. Path
1',289
TON
47.95
::61,807.55
>t~~~::l~2tti::»:»~:~>::>::»:
::»>::1•4g6::>::
>::>::::'t'fTE~:::
.;:.;:.:::.;2..:1;::»:~
34
Chain. Link Fence. (M-607-2) Single Gate
2
EA
3,260.00
6,520.00
35
Subtotal
2,024,952.40
36
WATER
37
5'. DIP
163
LF
44.00
7,172.00
38
8".DIP
1,391
LF
46.30
64,403.30
39
16". DIP
478
LF
66.00
31,548.00
40
6" Gate. Valve
4
EA
800.00
3,200.00
41
8". Gate Valve
5
EA
1,085.00
5,425.00
42
16". Gate. Valve
2
EA
4,530.00
9,060.00
43
Air Release Vault
2
EA
2,800.00
5,600.00
44
Relocate. Air Release Vault
1
LS
2,800.00
2,800.00
45
Fire Hydrant Assembly
4
EA
3,240.00
12,960.00
46
Water Service Lines (1 -1 /2". diam.).
1
EA
2,400.00
2,400.00
Copper
47
Irrigation Meter Pit
1
EA
1,750.00
1,750.00
48
Subtotal
146,318.30
49
SLOPE PROTECTION AND. EROSION CON
TROL
50
Stabilized Construction Entrance
3
EA
1,600.00
4,800.00
51
Silt Fence
865
LF
1.70
1,470.50
52
Rip-Rap (inlet/outlet protection) d50=9"
58
LF
24.00
1,392.00
53
Rip-Rap (inlet/outlet protection) d50=12"
16
LF
24.00
384.00
55
Riprap (inlet/outlet protection) d50=24"
11
LF
90.00
990.00
56
Straw Bale Dike
2
EA
75.00
150.00
]8 1°'~
IIIIIIIIIIIINIIIII~u~~u 882 e10 of 14
•
Swift Gluch Road
Traer Creek Metro District
Unit Price Comparisons
24 MAY 04
Gould
tion
Descri
Quantit
p
y
Unit Price
Total $
57
Wattle
36
EA
115.00
4,140.00
58
Beaver Dam (inlet protection)
9
EA
260.00
2,340.00
59
Silt Sack (inlet protection)
17
EA
125.00
2,125.00
60
Erosion Control Matting (14' wide)
192
LF
3.10
595.20
LandLok 450
61
Erosion Control Matting (4' wide)
2,319
LF
1.20
2,782.80
LandLok 450
62
Reve etation
1
LS
18,545.00
18,545.00
63
Subtotal
47,094.50
64
DRAINAGE
65
Mountable Curb Inlet
1
EA
2,200.00
2,200.00
66
C Inlet
12
EA
2,475.00
29,700.00
67
D Inlet
4
EA
3,300.00
13,200.00 .
68
2x6 Curb. Inlet
1
EA
3,650.00
3,650.00
69
2x3 Valley Inlet
1
EA
2,245.00
2,245.00
70
5' Type R Inlet
5
EA
4,300.00
21,500.00
71
18". CMP .
159
LF
39.95
6,352.05
72
18". RCP
711
LF
37.45
26,626.95
73
21" RCP
558
LF
41.50
23,157.00
74
24" RCP
21
LF
52.00
1,092.00
75
24" CMP
576
LF
41.50
23,904.00
76
36". CMP
290
LF
57.25
16,602.50
77
84" CMP
87
LF
220.00
19,140.00
78
84". Headwalls plus RipRap
1
LS
38,300.00
38,300.00
79
24" CMP. End Sections
12
EA
430.00
5,160.00
80
36". CMP. End Sections
2
EA
535.00
1,070.00
81
4' Diam Storm Drain Manhole
2
EA
2,600.00
5,200.00
82
Subtotal
239,099.50
83
SEWER
84
8", PVC
1,560
LF
36.00
56,160.00
85
6". PVC. Services
140
LF_
36.00
5,040.00
86
Encasement
100
LF
45.00
4,500.00
87
SDR.17. HDPE 100 psi
335
LF
20.00
6,700.00
88
Manhole
10
EA
2,800.00
28,000.00
89
Sewer. Video
1,620
LF
1.50
2,430.00
90
Subtotal
102,830.00
91
SHALLOW. UTILITIES
92
Trenching
7,174
LF
10.00
71,740.00
93
Electric. Conduit 6" (install only)
2,955
LF
0.85
2,511.75
94
Electric. Conduit 4" (install only)
16,631
LF
0.85
14,136.35
95
Telephone Conduit 4"
2,914
LF
2.00
5,828.00
96
Cable TV Conduit 4"
2,914
LF
2.00
5,828.00
97
Secondary Electric 4" Conduit and Wire
1,042
LF
2.00
2,084.00
98
Secondary Electric 2" Conduit and Wire
3,055
LF
1.00
3,055.00
99
Communications 4484-TCA Vault
7
EA
4,840.00
33,880.00
100
Electric UM 35L Splice Vault (install only)
7
EA
.600.00
4,200.00
101
Boulder Walls
720
SF
20.00
14,400.00
102
12". RCP
60
LF
26.45
1,587.00
103
47 Fiber Optic Conduit
1,457
LF
2.00
2,914.00
104
6" Spare Conduit
9,549
LF
2.60
24,827.40
105
4". Spare Conduit
9,321
LF
2.00
18,642.00
106
Handhole
18
EA
200.00
3,600.00
107
12"x8"x6" Fiberglass Pullbox
7
EA
200.00
1,400.00
108
Subtotal
210 633.50
109
Landscaping (Allowance)
1
LS
30,000.00
30,000.00
110
Lighting, Allowance
1
LS
11 55,000.00
55,000.00
I
Total
11
3,025,073.20
882178
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Teak J Simonton Eagle, Co 89 R 71.00 6/29D20 00 1:33P
•
P--~
EXHIBIT C
DISTRICT FUNDING RESOLUTION
i 11111111111111111 i
Teak J Simonton Eagle, CO 89
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R 71.00 D 0.00
16680/Traer May 20,
2004
RESOLU'1('ION
OF TRAER CREED METROPOLITAN DISTRICT
REGARDING APPROPRIATION OF FUNDS UND1-R
8UBDM910N IMPROVEMENTS AGREEMENT
THE VILLAGE (AT AVON FILING 3
WH$XF,AS, Traer Creek Metropolitan District (the, "District') is a quasi-municipal
corporation and political subdivision of the State of Colorado; and
WHFIME S, the District is authorized, pursuant to Section 32-1-1001(1)(d)(1), C.R.S., to
enter into contracts and agreements affecting the affairs of the District; and
WAS, the District has entered into a Subdivision Improvements Agreement The
Village (At Avon) Filing 3 dated _June 8 , 2004 (the "SW?)'w'ith the Town of Avon,
Colorado (the "Town') and Trder Creek-RP LLC, a Colorado limited liability company
("Subdivides') regarding the funding and/or construction of public inftstructure improvements
in connection with the approval of the Final Plat of The Village (at Avon) Filing 3, Town of
Avon, Eagle County, Colorado; and
WHEREAS, the District is responsible for the performance and completion of public
improvements assigned on Exhibit A of the SLA. (the "District Improvements'l;
NOW, THEREFORE, RE IT RESOLVW BY THE BOARD OF DIRECTORS OF
TRAER CREEK METROPOLITAN DISTRICT AS FOLLOWS:
1. The Board of Directors hereby finds, demnnines and declares that it is in the best
interest of the District to execute and deliver to the Town the S1A and the appropriate officers of
the District are hereby authorized to execute and deliver such SIA. to the Town.
2. The Board of Directors hereby appropriates, reserves and allows for tender to the
Town pursuant to the SIA available fiords of the District izx an amowt not less than
$3,025,273.20 (the "Funds") to guarantee construction of the District Improvements.
3. The Board of Directors hereby certifies to the Town Council that the Funds are
unegcwnbered and free from claims of others so that any requests of the Town for payment
under the SIA may be promptly honored. The Board of Directors further certifies to the Town
Council that the Funds have been set aside in a separate account and identified for the purposes
recited herein and that such Funds shall be held in compliance with the requirements of Section
29-1-803(1), C.R.S., for the purpose of providing foT the completion of the District
Innproveinents.
4. This Resolution shall be renewed at the beginning of each subsequent calendar
year until all the District Improvements have received final acceptance or until the District
provides substitute collateral acceptable to the Town.
882178
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(Owl ►22I.DOCw.0 06/29/2004 01:33P
Teak J Simonton Eagle, CO 89 R 71.00 D 0.00
1
N OF FUNDS
[SIGNAT'CRtE PAGY, TrOR RESOLUTION REGARDING
SUBDIVISION IMPROVEMENTS AGREEMENT
YT
THE V1 LLAGE (AT AVON) FILING 31
APPROVED AND ADOP'T'ED this ~+I-- day of
TR.AER CREEK
By:
A= r
nc plesate, Secretary
882178
Page: 14 of 14
06/29/2004 01:33P
Teak J Simonton Eagle, CO 89 R 71.00 D 0.00
(00019223.t10C v;1) 2