TC Ord. No. 2001-15 Approving an agreement concerning the terms of annexation development and subdivision of the lands described in the Mcgrady acres petition for annexation.e
I~
•
TOWN OF AVON
ORDINANCE NO. 01-15
SERIES OF 2001
:f
AN ORDINANCE APPROVING AN AGREEMENT CONCERNING THE TERMS OF
ANNEXATION, DEVELOPMENT AND SUBDIVISION OF THE LANDS DESCRIBED IN
THE MCGRADY ACRES PETITION FOR ANNEXATION; AUTHORIZING AND
INSTRUCTING THE MAYOR OF THE TOWN OF AVON TO SIGN THE AGREEMENT
ON BEHALF OF THE TOWN; AND APPROVING A SITE SPECIFIC DEVELOPMENT
PLAN ESTABLISHING A VESTED PROPERTY RIGHT PURSUANT TO ARTICLE 68
OF TITLE 24, C.R.S., AS AMENDED.
WHEREAS, EMD LIMITED LIABILITY COMPANY and TRAER CREEK
LLC ("Owners") filed a petition for annexation ("Petition") with the Clerk of the Town of Avon
("Town") on August 2, 2001, requesting annexation to the Town of certain real property
described in Exhibit A of the Petition (the "Property"); and
WHEREAS, pursuant to the terms of the Petition, the execution of an annexation
and development agreement which establishes statutory vested property rights for the Property is
an express condition of annexation; and
WHEREAS, the TRAER CREEK METROPOLITAN DISTRICT ("TCMD") will
perform certain. public improvement obligations required in connection with annexation;
development and subdivision of the Property; and
WHEREAS, the Town, Owner and TCMD have negotiated the terms and
conditions of an agreement titled "Annexation, Development and Subdivision Improvement
Agreement", which agreement (the "Agreement") addresses the terms and conditions upon which
annexation, development and subdivision of the Property will occur, and the development rights
and responsibilities of the Town, TCMD and the Owner with respect thereto; and
WHEREAS, the Town gave proper and timely posted notice of the dates and
times of the meetings at which the Town Council considered the Agreement; and
WHEREAS, the proposed full text of this Ordinance was duly published by
posting in the office of the Town Clerk and in three (3) additional public places within the Town,
and said publication also set forth the date and time of the public hearing at which the Town
Council of the Town (the "Town Council"), considered the Agreement; and
WHEREAS, pursuant to Avon Municipal Code Section 17.14.100 and as more
specifically described in the Agreement, the Town Council has agreed in connection with
approval of the Agreement to designate the Agreement (including the "Development Plan" as
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defined in the Agreement) as a site specific development plan creating vested property rights to
develop the Property as set forth therein; and
WHEREAS, it is the intent of the Town Council that approval of the Agreement,
together with approval of the elements of the "Development Plan" (as defined in the Agreement),
will constitute approval of a site specific development plan establishing a vested property right
pursuant to Article 68 of Title 24, C.R.S., as amended; and
WHEREAS, approval of the Agreement is in the.best interests of the public health;
safety and general welfare of the people of the Town; and
WHEREAS, the Town Council held public hearings at which it received evidence
and testimony concerning the Agreement, at the conclusion of which the Town Council considered
such evidence and testimony so introduced and by this Ordinance sets forth its findings of fact and
conclusions.
THE TOWN COUNCIL MAKES THE FOLLOWING FINDINGS OF FACT AND
CONCLUSIONS:
1. The Agreement complies with all applicable laws and regulations of the
State of Colorado and the Town, including, without limitation, Article 68 of Title 24, C.R.S.
2. All notices required for the public hearings, at which the Town, Council
considered the Agreement were properly and timely published, posted or mailed in accordance with
all applicable laws and regulations of the State of Colorado and the Town.
3. All public hearings at which the Town Council considered the Agreement
were held and conducted in accordance with all applicable laws and regulations of the State of
Colorado and the Town.
4. The Town has authority to enter into the Agreement pursuant to
Sections 24-68-104(2) and 31-15-101, C.R.S., and pursuant to Section 17.14. 100 of the Avon
Municipal Code.
5. The Town's approval of and entering into the Agreement is in the best
interests of the public health, safety and general welfare of the people of the Town.
NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE
TOWN OF AVON, COLORADO THAT:
Section 1. Approval of the Agreement, together with approval of the
"Development Plan" (as defined in the Agreement), is hereby designated as the
site specific development plan for the Property.
Section 2. The Agreement is hereby approved and the Town shall enter into the
Agreement and perform its obligations under the Agreement.
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of
of
Section 3. The Mayor of the Town of Avon, is hereby authorized to sign the
Agreement on behalf of the Town.
Section 4. Approval of the Agreement together with approval of
"Development Plan" (as defined in the Agreement), hereby constitutes approval of
a site specific development plan establishing a vested property right pursuant to
Article 68 of Title 24, C.R.S., as amended.
Section 5. Within fourteen (14) days after passage on Second Reading of this
Ordinance, the Town Clerk be and is hereby authorized and directed to:
A. Publish the full text of this Ordinance in a newspaper of general
circulation within the Town of Avon (either the Vail Valley Times or the
Eagle Valley Enterprise, or both); and
B. Concurrently with the publication required in Section 5.A. above, publish
a notice that complies with the requirement of Section 24-68-103(1),
C.R.S. to advise the general public that approval of the, Agreement
pursuant to this Ordinance, together with approval of the "Development
Plan" (as defined in the Agreement), constitutes approval of a site specific
development plan establishing a vested property right in accordance with
the terms and conditions of the Agreement and pursuant to Article 68 of
Title 24, C.R.S., as amended.
Section 6. The effective date of this Ordinance shall be seven (7) days after
publication of the notice described in Section 5.A. above.
INTRODUCED, PASSED ON FIRST READING, APPROVED AND ORDERED PUBLISHED
this 9 day of October , 2001 and a public hearing on this ordinance shall be held at the
regular meeting of the Town Council of the Town of Avon, Colorado, on the 2 -3_ day of
AptebeF, 2001 at p.m. in the Avon Municipal Complex; 400 Benchmark Road, Avon,
Colorado.
TOWN OF AVON
By: i
J Yoder
XVTvi ayor of the Town of Avon, Colorado
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INTRODUCED, PASSED ON SECOND READING,' APPROVED AND ORDERED
PUBLISHED this 2-1- day of.s~w~o , 2001.
TOWN OF AVON
By:
Ju Yoder
Mayor of the Town of Avon, Colorado
APPROVED AS TO FORM:
0
Burt Levin, Esq.
Town Attorney
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CERTIFICATE OF PUBLICATION
I, Kris Nash, Town Clerk of the Town of Avon, hereby certify that a.true and full
copy of Ordinance Number 01-15 and the site specific development plan notice were published
in Eagle Valley Ent =ise , a newspaper of general circulation in the Town of Avon, on
RX.Awbgr_1 , 2001. A copy of the published text is attached hereto.
Date: A6(
Clerk
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Irk _b p ,aid toAwn~u ip~
A.IKfl Sw 1ha arm a1 fts no,-
N2 25117
PROOF OF PUBLICATION
STATE OF COLORADO
SS.
COUNTY OF EAGLE 1111111111111111111 III 111111111111 IIIII III 1111111111111 791067
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I, Don Rogers, do solemnly swear that I am the Managing Editor of The Eagle Valley Enterprise, that the
same weekly newspaper printed, in whole or in part and published in the County of Eagle, State of
Colorado, and has a general circulation therein; that said newspaper has been published continuously
and uninterruptedly in said County of Eagle for a period of more than fifty-two consecutive weeks next
prior to the first publication of the annexed legal notice or advertisement; that said newspaper has been
admitted to the United States mails as a periodical under the provisions of the Act of March 3, 1879, or
any amendments thereof, and that said newspaper is a weekly newspaper duly qualified for publishing
legal notices and advertisements within the meaning of the laws of the State of Colorado.
That the annexed legal notice or advertisement was published in the regular and entire issue of every
number of said weekly newspaper for the period of I consecutive insertions; and that the first
(
publication of said notice was in the issue of said newspaper dated /.~B~Glll~.!!~1
A.D and that the last publication of said notice was in the issue of said newspaper
dated. . ft4e,04hd...... A.D....... c.,2"...l
In witness whereof I have hereunto set my hand this ~ . day of r 4
L Managing Editor
~`i
a notary public in and for the County of Eagle, State of Colorado,
this
L) 13 V
~C
°O C~.
Notary Public
My Commission expires dl's-..tl
No. 0;-05. -SOS ~f, ZD=6-00
~ tteen ~_i mgt of i~e~ove~'~9a1
co,an~ ~ ao-
his sen>aid'iho~ii~ obdCoriv Baal _
tD
raw" -and. also to ~,.G.o .
ooarnterow needs s~pe<dric ~ ~ ,
under a e dedesionawre Of W ft Awn
merdd are dsanbed r.mre
Av icipa7 Cod e.Section 1 %M.040. • .
ta9Al destatption of qw +ad pertP ScERedla the
ue~edppe Y'
~ $ tAt:aid;4-and tbt s .1NCGrady 9aesr~
eroding W d1b &131' tt~reof•remrded i° Hook
at F"0: a. pra tr9me crte Comex .
Colorad<+ CJ~eik Reawd~r.
"tDYV1V OF AVON : '
OFMWMCE ~-15
-SERIES AN ORDROMMAPPROVING AN AC +rf
- --OOA1C19 iNING THE TERMS OF ANN0
tEVEL•OPmENT.ANDSUBDmsIONOFTHE
UMDS DESCRIBED tN THE MCGRADY ACRES
pErMON-Fcp - A m 1 GTHE MAYOR LNG _
WHEREAS:-EM UMMED UABILTY.F.OMPANY
` and TRAER-CREEK LLC'('Owners'). fled a-PaliP- lion for a mwmfiw Teft' ' Bye Clerk of the.
1' Tdwrr-d Awn 116wn") on Acgust 4 2OOt, re-
-•"annexationtoythe-Tam of certain •rear
Property described fn E#dat A ot,2wPef[twjfi e
and -
Ptirsua~.ta lhe'ieims of ft.. Petition,
the, boc0m of an armm~qtlori and .development
agrel"frieru' w!>ich .'estaFdsttes statirtory .
rtgtds far gre;.Properly, is an'e~ress mn
r6h" 'on.o1 amen: ami - ' - - • ' -
WHBaEAS, the TRAER CREW METFiOPOWA%N
DtsTRICT'('r(hm') vn71 perform wrtain public inr
profs.mern pdigatiors iegtdred in eonheadori, with
;am wadin•-- nerd and sub&*@n of fie-.
Propeft-and
Agieemenn'addresses the terns old conditions
u~m whigr•arrtr~oe;cdeM'ard subdivt;
s3~ tfre ropertit rdrp. occM and the- a&W* -
merit • rights -.and . tespotsibfrdies oT yhe' ;T
TCIM and the Owner VAIIVrespect thereto;a6ar"
WjfiEA x Itae Town gave Prapei. ark •thaely-'-
rtotioe oft .8Tatem=and times of ti1e meet--
at,rrhkh $ra_detes CameiFied-lbe-,
and.
-the- orcoobea U .,Jwd_of •ths .Ordr _
rrarm.•was duly lry m the ot6oe_
of thrtToWn Clerk and mtitree (3) a anal public
dads within -the T.wvri. arid said artdire ion al:
cauidly, oorsidared itre AgieamerrC and . , ; -
WHBMAS,':piasiieid IQ d4var 6hmiapal.Oode'
Section 17.14.100 and as mmue.simili ally desai-
bed "fn- the Apwmerd, -ft ,Tom Cmirbil bas
agreed in. conrxe tim.•ft_apkaval- of:lhe Agree-
.,roar- rsrm --ft imduQmg the -
Plan" as in tt~,
avdsitte spedre pnrent plan cftj -vested
Pzbperty as set tmlh-
prapariy riufis.to develop-the
Town Courr6l that -
8Is the traeha of
~mva1 of the tog`ather'w~+ approval.
' of.~e' tflft '°e`rt pr..t Plar? (as de-
lined K41ve'Agreeinent), will tlhnbe of
=a `.site •speoifx- devetopmBrd.pian• , a-
vetted propertyright p-awt,to Ar1'' 68.of. .
24:'C:R.S.: as,&ninded: and -
Wt1EREAS' of ifie Agraemerd-is in.the.
best Interests of the pirblic'health. safety aril gan
OWwarfare ot.lhapeoplecfthaTmmand
WHEEREAS,,the Taun Cortnc l tmld p ititic•treaiirgs
M Aftch 41 moeried evidence ad ftsitncny g1rr- -
-.I:errdng the Agriemam, at d =wkz = c.whidr
-8re Town Comm oonsideredstub *idence and-
-Ordinance
ft findingslintrodxsded
of fad and carCIIJ90FIEL
THE TOWN cOUNciC EAKEs THE. FOLLOINirm .
_ cnaivntr_c rn: r-nrr Anln rllntd 1i~ONS~
Tam 7~uding. without Win: Amide 68 of Tr
tae F4, C:RS. t- - . .
p
I ~ Ih , NIIII Fisher CO 289 R 140. -:08~ ;a
i•mraideTed1hb A~eerirent aere,Field eiid:co oct-
f, in accordarn a wilh all applicable jaws Arid (egu
' `tafions of the;Siate of Colorado and the T
~r4 The Town has •eu<horriY ~ 6Trter ~ .the •
~Mffl'pursuant t4'Seofioris,246810A(2) 31='
QS101;GAS;ta6epiiorit7 4.a00'
of fire Avore (uLm ' Code:
l.8• xtTe ~arn's~ep~proval ofzs'Ind ehTeim9-irj6o~ra
`tA>i'+Be!TreM:is in,Ure best_irdeiesfs •of tlre;P~~.
t•heatih :satety,~d general weGare of the,peeple d•i
~1heTown. - . • -
• ROW, THERE50iW- BE' IT 013 A ED J9Y V14E•
d 9wW c
J ,per
}srn►
'argtrt.pursur- Ar6Ge-68 of,TGla 24:.+
VUdtdfi.iaurteBTr_.(14)'daYs,~ar.
xid oP Uus ~rdinarroe:•ine' gown' ,
endistiere augarizadnNddrrerfadim
ih Jhe'Sill text of ~ttus Q_ idrance.ut'B.tTmers- ; .
d: geneoll:'oiiwlation ~ ririCim ;the-:Tarn >pf ;
itlTer:ihe Vail• Valley-TJnres,_~or Uie J~ .
nterprisa,-dr. 9r) and: = ' a
ardh
the ptfificatoh•regt~red ian
an
ree,•~ish,a notke ttiat,+
ememt ;of Section 2 1), s
Y advise the ganeral,p'r~~ Ciat~ tff
lenlellt'p1II51tara to•tJus. , h-
R~Pr_arat of #hbe- ra~~urent PJm_ ~s
the AgreeRient),; ,appiodrdJ of a : •
c3'~c tAerrel6piner~ pplI8an estaSJishin~' 'rast-
~rty rigdt ur aooordartcaeaftti the god
V of ihe_Aq~r~t wxJ~ursriarit Ad-
` Its, 24; C3a S a§ aid. ;
S The'eftactive tlaUe`oJ;tlris
saveri~days Haar"' of bhe' n6
x~ed in-Section
t1CED, :•PASSJ~ DN' piRSi.NG
12 •AND_ ORDERED .PLIt3LlSFi~).lbis
of Otl6b6r.'2001 and:a•pumic'.h dit on.
r 'On the 23,-defy of'Oda5er:,'2001,at 530•pm rti"
i ` Tarn afiAvon, t;atoraCO J
Town Clerk.v
r~:BW~fPG[R,DDUCED 'PASSEV ON '_~ND ~ READ
"Cue .APPROVED AND ORDERED PUBL75FJ1~
23rd day of October. 2001.
_ ID"-DFAVON,
6 he a'
Attest
z `Kris
is 1
z.'E~J'I~flRP1~I.JCisRON-=. ,
l;'e~w.wM. a : n .1 O~r'r
tiri d~
ofTthe own;of•'Awn '.on Novambef. 7;3Jm1 8 '
{q'~ • puDRshed tare is BJtadied hareta ' • • ' 1
Kft Nash ?
Ibm Clark
. Published 4n The Eagie Vaiiey>Er*W*ise4Aovem-
i •
STATE OF COLORADO )
COUNTY OF EAGLE ) SS
TOWN OF AVON )
NOTICE IS HEREBY GIVEN OF A PUBLIC HEARING BEFORE THE TOWN COUNCIL
OF THE TOWN OF AVON, COLORADO AT 5:30 P.M. ON THE 23rd DAY OF OCTOBER
2001, AT THE TOWN OF AVON MUNICIPAL BUILDING FOR THE PURPOSE OF
CONSIDERING THE ADOPTION OF ORDINANCE NO'. 01-15, SERIES OF 2001:
An Ordinance Approving an Agreement Concerning the Terms of Annexation, Development and
Subdivision of the Lands Described in the McGrady Acres Petition for Annexation; Authorizing and
Instructing the Mayor of the Town of Avon to Sign the Agreement on Behalf of the Town; and
Approving a Site Specific Development Plan Establishing a Vested Property Right Pursuant to
Article 68 of Title 24, C.R.S., as Amended
A copy of said Ordinance is attached hereto, and is also on file at the office of the Town Clerk,
and may be inspected during regular business hours.
Following this hearing, the Council may consider final passage of this Ordinance.
This notice is given and posted by order of the Town Council of the Town of Avon, Colorado
Dated this 10th day of October, 2001.
TOVf3-T OF AVON; COLORADO
BY: II V /
bwn Clerk
POSTED AT THE FOLLOWING PUBLIC PLACES WITHIN THE TOWN OF AVON ON
OCTOBER 10, 2001:
AVON MUNICIPAL BUILDING IN THE MAIN LOBBY
ALPINE BANK
AVON RECREATION CENTER
CITY MARKET IN THE MAIN LOBBY
11111 Jill 1111 791057
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ANNEXATION, DEVELOPMENT AND SUBDIVISION IMPROVEMENT AGREEMENT
FOR
McGRADY ACRES ANNEXATION
BY AND BETWEEN
THE TOWN OF AVON
AND
EMD LIMITED LIABILITY COMPANY
TRAER CREEK LLC
AND
TRAER CREEK METROPOLITAN DISTRICT
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,Oct. 23 , 2001
Approval of this plan constitutes a vested property right
pursuant to Article 68 of Title 24, C.R.S., as amended.
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ANNEXATION, DEVELOPMENT AND
SUBDIVISION IMPROVEMENT AGREEMENT
THIS ANNEXATION, DEVELOPMENT AND SUBDIVISION
IMPROVEMENT AGREEMENT (this "Agreement") is made and entered into as of
OnfnhPr 21 , 2001 by and between EMD LIMITED LIABILITY COMPANY, a
Colorado limited liability company ("EMD"), TRAER CREEK LLC, a Colorado limited liability
company ("Traer"), TRAER CREEK METROPOLITAN DISTRICT ("TCMD"), and the
TOWN OF AVON, a municipal corporation of the State of Colorado (the "Town").
RECITALS
A. EMD and Traer are each limited liability companies, duly organized and
in good standing under the laws of the State of Colorado.
B. Owner (defined in Section 1.1(1) hereof) owns the Property (defined in
Section 1.1(n) hereof) and desires to obtain annexation and zoning of the Property in order to
develop the Property in a manner' consistent with the uses and .development criteria established
by the approved Zoning Application (defined in Section 1.1(x)) and to facilitate construction by
TCMD of the Highway 6 Connector Road (defined in Section 1.1(h) hereof) and related public
improvements as required by and defined in the Village Annexation Agreement (defined in
Section 1.1(u) hereof).
C. Traer is the successor to certain of the entities which constituted the
"Owner" under the Village Annexation Agreement, and TCMD has assumed certain obligations
under the Village Annexation Agreement to finance and construct certain public improvements.
D. ' Owner has submitted to the Town the "Annexation Petition," the "Zoning
Application" and the "Subdivision Application" (as such terms are defined in Sections 1.1(a),
1.1(x) and 1.1(p) hereof). The Annexation Petition requests annexation of the Property and of
certain real property owned by the Town, and of certain existing public transportation
rights-of-way necessary for construction of the Highway 6 Connector Road and related public
improvements.
E. If the Annexation Property is annexed to the Town, the Town will have
the authority to zone the Property and approve the subdivision of the Property in accordance with
this Agreement and applicable Town requirements and policies. Furthermore, the Town will
have the authority to provide for the orderly development of the Project (defined in
Section 1.1(m) hereof) and the vesting of certain property development rights concerning the
Property.
F. Development of the Project.is integral to the performance of certain public
improvement obligations as required by the Village Annexation Agreement, and will require
large investments in infrastructure improvements and public facilities (which may include offsite
improvements), including,without limitation, roads, drainage facilities, water lines,'sewer lines,
and similar public improvements which will serve the needs of the Project, TCMD, and the
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Town. Completion of these improvements and facilities will require substantial investments by
Owner and/or TCMD. ' Such investments can be supported only if there are assurances that the
development of the Project, once approved by the Town, will be allowed to proceed to ultimate
completion as contemplated by the Village Annexation Agreement and as provided in this
Agreement.
G. The Project may contribute substantially to the economic growth of the
Town and, consequently, may increase tax revenues to the Town. The Town desires to annex the
Annexation Property in order to provide for orderly growth in and around the Town. In
particular, the Town and Owner acknowledge that it is necessary and desirable that the Town
acquire jurisdiction over the Project in order to assure that the Highway 6 Connector Road and
related public improvements are constructed under the Town's regulatory authority in the
manner contemplated by the Village Annexation Agreement and by this Agreement.
H. The Vested Property Rights Statute (defined in Section 1.1(t) hereof)
authorizes the Town to enter into development agreements. with landowners providing for
vesting of property development rights. Consistent with the Vested Property Rights Statute,
Chapter 17.14 of the Municipal Code authorizes the Town to enter into development agreements
with landowners providing for the vesting of property development rights.
I. Development of the Project in accordance with the terms and conditions of
this Agreement will further the Town's objectives in entering into the Village Annexation
Agreement, and will achieve the goals and purposes for which the Vested Property Rights
Statute and Chapter 17.14 of the Municipal Code (defined in Section 1.10)) were enacted. In
exchange for these benefits and the other benefits to the Town contemplated by this Agreement,
together with the public benefits served by the orderly development of the Project, Owner desires
to receive the assurance that it may proceed with development of the Project pursuant to the
terns and conditions contained in this Agreement.
AGREEMENT
NOW, THEREFORE, in consideration of the terms, conditions and covenants set
forth in this Agreement and other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, Owner and the Town agree as follows:
ARTICLE 1
Definitions and General Provisions
I.1 Definitions. The following terms and references shall have the meanings
indicated:
(a) Annexation Petition: The petition for annexation which Owner
filed with the Town on August 2, 2001.
(b) Annexation Property: The real property which is legally described
in Exhibit A of the Annexation Petition.
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(c) Development Parcels: Lots 2 and 3, as depicted in and to be
established by'the Subdivision Application.
(d) Development Plan: Collectively, the Subdivision Application, the
Zoning Application, and this Agreement, together with the applicable portions of the
Village SIA and the Village Final Plat.
(e) Effective Date: The effective date of the Town Council ordinance
approving this Agreement.
(f) Exhibits: The following Exhibits to this Agreement, all of which
are incorporated by reference into and made a part of this Agreement:
Exhibit A - Legal Description of the Property
(g) Final Approval: The 40`h day following the effective date of the
latest of the ordinances or resolutions by" which Town Council approves (a) this
Agreement, (b) the annexation of the Property to the Town, (c) the Zoning Application,
or (d) the Subdivision Application. Final Approval shall be deemed not to have occurred
if on or before such 40 day either (i) any legal proceeding challenging any of such
approvals is commenced, or (ii) any petition for a referendum seeking to reverse or
nullify any of such approvals is duly filed; unless in the case of either (i) or (ii) above,
Owner elects not to terminate this Agreement pursuant to Section 2.3, and such legal
proceedings or referenda are concluded or resolved affirming such approvals within a
period of time acceptable to Owner in its sole discretion.
(h) Highway 6 Connector Road: As generally described in the Village
Annexation Agreement, the road required by the Village Annexation Agreement to be
constructed to provide a connection between the Interstate 70 Interchange and
Highway 6.
(i) Interstate 70 Interchange: As generally described in the Village
Annexation Agreement, a full diamond interchange required by the Village Annexation
Agreement to be constructed on Interstate 70.
(j) Municipal Code: The Town's Municipal Code, as in effect from
time to time.
(k) Municipal Services: All municipal services to be provided to the
Project, including, without limitation, police protection, snow removal and road
maintenance, building code enforcement, bus transportation services and other
administrative services equivalent to those provided to any other area of the Town.
(1) Owner: Collectively, EMD LIMITED LIABILITY COMPANY, a
Colorado limited liability company, and TRAER CREEK LLC, a Colorado limited
liability company, and their respective successors and assigns.
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(m) Project: Development of the Property and construction of the
portion of the Highway 6 Connector Road and related public and private improvements
located within the area of the Annexation Property, pursuant to the Development Plan.
(n) Property: The real property located in unincorporated Eagle.
County, Colorado, and more particularly described on Exhibit A attached to this
Agreement.
(o) Public Improvement Obligations: Collectively, the public
improvement obligations, including the provision of security to assure completion of such
public improvements, required pursuant to Section 16.24.100 of the Municipal Code in'
connection with approval of the Subdivision Application to be constructed within the area
of the Annexation Property, which public improvements and security therefore, together
with the approved design, engineering and technical criteria and standards, shall be as set
forth in the Village SIA, pursuant to the terms and conditions of this Agreement.
(p) Subdivision Application: Collectively, (i) the preliminary plan
which Town Council approved on September 25, 2001, pursuant to Resolution 01-26,
Series of 2001; and (ii) the final plat application submitted to the Town. on oct: _ 12
2001, for review and final action contemporaneously with Town Council's final action on
the Annexation Petition, as such preliminary plan and final plat may subsequently be
amended.
(q) Town: The Town of Avon, a municipal corporation of the State of
Colorado.
(r) Town Council: The Town Council of the Town.
(s) Vested Property Rights: As defined in Section 3.4 and established
pursuant to the terms and conditions of this Agreement in accordance with the Vested
Property Rights Statute and Chapter 17.14 of the Municipal Code.
(t) Vested Property Rights Statute: Sections 24-68-101, et seq. of the
Colorado Revised Statutes, as amended.
(u) Village Annexation Agreement: Thaf certain Annexation and
Development Agreement, dated as of October 13, 1998, and recorded in the Eagle
County, Colorado, real property records on November 25, 1998, at Reception
No. 677743, as amended of record.
(v) Village Final Plat: The Village (at Avon) Filing 1 final plat (the
application for is anticipated to be considered by Town Council after the effective date of
this Agreement) as approved by Town Council and placed of record.
(w) Village SIA: The subdivision improvements agreement to. be
executed by Traer, TCMD, and the Town in connection with the Village Final Plat, as
approved by Town Council and placed of record (anticipated to occur after the effective
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date of this Agreement), together with all construction and engineering drawings and
technical standards approved in connection therewith.
(x) Zoning Application: The Neighborhood Commercial Zone District
zoning application for the Development Parcels, submitted to the Town on August 2,
2001, and to be considered and acted upon by Town Council as Ordinance No. 01-08,
Series of 2001, or such other application for zoning of the Development Parcels as Traer
and EMD may submit and Town Council may approve in lieu of the August 2, 2001,
submittal.
1.2 Covenants. The provisions of this Agreement shall constitute covenants
or servitudes which shall touch, attach to and run with the land comprising the Property, and the
burdens and benefits of this Agreement shall bind and inure to the benefit of all estates and
interests in the Property and all successors in interest to the parties to this Agreement, except as
otherwise provided in Section 1.4.
1.3 Term. In recognition of the importance of the development contemplated
under this Agreement in implementing and realizing the public benefits contemplated in the
Village Annexation Agreement which are dependent on development of the Project, the
substantial investment and time required to complete the development of the Project, and the
possible impact of economic cycles and varying market conditions during the course of
development, the term of the Vested Property Rights established under this Agreement shall
commence on the Effective Date and shall continue until the twentieth (20th) anniversary of the
Effective Date. After the expiration of the foregoing term, the Vested Property Rights
established by this Agreement shall be deemed terminated and of no further force or effect;
provided, however, that such termination shall not effect (a) the annexation of the Property to the
Town; '(b) any additional common law or other form of vested rights obtained prior to such
termination, or (c) any right arising from Town permits, approvals or other entitlements for the
Property or the Project which were granted or approved prior to, concurrently with, or
subsequent to the approval of this Agreement, the Subdivision Application, or the Zoning
Application.
. 1.4 Amendment of Agreement. Except as otherwise set forth in this
Agreement, this Agreement may be amended or terminated only by mutual consent in writing of
the Town and Owner following the public notice and public hearing procedures required for
approval of this Agreement. For the purposes of any amendment to this Agreement, "Owner"
shall mean only the signatories to this Agreement constituting Owner and those parties, if any, to
whom such signatories have specifically granted, in writing, the power to enter into such
amendment.
1.5 Cooperation in Defending Legal Challenges. If any legal or equitable
action or other proceeding is commenced by a third party challenging the validity of any
provision of this Agreement, the zoning of the Property, and/or the subdivision of the Property,
Owner and the Town shall cooperate in defending such action or proceeding and to bear their
own expenses in connection therewith. Unless the Town and' Owner otherwise agree, each party
shall select and pay its own legal counsel to represent it in connection with such action or
proceeding.
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ARTICLE 2
Annexation of the Property
2.1 Annexation. Annexation of the Property shall be in accordance with the
terms and conditions of this Agreement and the Colorado Municipal Annexation Act of 1965, as
amended (C.R.S. 31-12-101, et seq.).
2.2 Conditions Precedent. Annexation of the Property to the Town shall not
be made effective pursuant to C.R.S. § 31-12-113(2)(b) until the following conditions have been
satisfied: (a) Owner, TCMD and the Town have mutually executed and delivered this
Agreement; and (b) Final Approval has occurred.
2.3 Failure of Conditions. Until all of the conditions set forth in Section 2.2
have been satisfied, Owner may withdraw the Annexation. Petition. If Owner withdraws the
Annexation Petition, or if Final Approval does not occur, then the Property shall be deemed not
annexed to the Town, the Vested Property Rights described in this Agreement shall be deemed
not established, and all obligations of the Town, TCMD and Owner under this Agreement which
are to be performed after the annexation becomes effective shall be deemed void and of no force
or effect.
ARTICLE 3
Zoning and Vested Rights
3.1 Zonin . The Development Parcels shall be zoned as provided in this
Agreement and in the Zoning Application. Tracts A and B as depicted in the Subdivision
Application shall be zoned to accommodate their use as a public right-of-way.
3.2 Subdivision and Subdivision Improvements Agreement. The Annexation
Property "shall be platted as set forth in the Subdivision Application, subject to the following
provisions:
(a) Ownership of Lots. Upon completion of the subdivision process,
the Town will be the sole owner of Lot 1, Traer will be the sole owner of the
Development Parcels, and ownership of Tract A, Tract B, and other public rights-of-way
situate within the Property shall be as otherwise provided in Section 4.1 of this
Agreement. In connection with recordation of the final plat approved as part of the
Subdivision Application, the Town, Traer, EMD and TCMD shall, in addition to any
specific obligations otherwise established in this Agreement, execute, deliver and record
such documents and instruments as may be required to assure that fee simple absolute
title to Lot 1 is vested in the Town, and that fee simple absolute title to the Development
Parcels is vested in Traer. The parties contemplate that TCMD will own Tracts A and B
unless and until TCMD conveys either tract as contemplated in other provisions of this
Agreement.
(b) Security for performance of Public Improvement Obligations.
Execution, delivery and recordation of this Agreement shall satisfy the requirement of
Section 16.24. 100 of the Municipal Code with respect to the provision of a subdivision
improvements agreement for the Annexation Property. The Public Improvement
519060 7 MLAYER 10/23/01 11 14 AM 7
0 0
Obligations shall be as set forth in the Village SIA; provided, however, that the obligation
to perform the Public Improvement Obligations shall not arise unless and until final,
non-appealable approval, mutual execution and delivery, and' recordation in the Eagle
County, Colorado, real property records of the Village Final Plat and the Village SIA has
occurred. Unless and until final, non-appealable approval, mutual execution and
delivery, and recordation in the Eagle County, Colorado, real property records of the
Village SIA has occurred, the following restrictions shall apply:
(i) The Town shall have no obligation to issue any building
permit for development of the Development Parcels.
(ii) After completing the conveyances described in
subparagraph (a) of this Section 3.2, and except as otherwise provided in this
sub-subparagraph (ii), Traer shall be ' restricted from conveying the Development
-
Parcels to any third party, which restriction on conveyance shall be specifically
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enforceable by the Town and is hereby made a covenant running with title to the
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Development Parcels. Notwithstanding the foregoing, upon providing prior
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written notice thereof to the Town Traer may convey one or both lots constitutin
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the Development Parcels to an affiliate of Traer for tax planning or similar
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purposes. For purposes hereof, "affiliate of Traer" shall mean any member of
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Traer and any entity in which Traer or any member of Traer holds at least a 50%
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interest. The notice of such conveyance shall be delivered to the Town at least
fifteen (15) days prior to the conveyance, and shall describe the relationship of the
affiliate to Traer in sufficient detail for the Town to confirm that the affiliate
meets the definition set forth herein. The Town may object to such conveyance
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only on the basis that the proposed transferee is not an affiliate as defined herein.
If the Town provides written notice within the fifteen (15) day period that it
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objects to the conveyance on that basis, Traer shall not effect the conveyance
unless and until the Town withdraws its objection or it is otherwise established
that the transferee meets the definition of affiliate set forth herein.
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Upon recordation of the Village SIA, the Town shall execute and deliver to Traer for
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recordation a memorandum sufficient to provide record notice that the restriction on
conveyance described in the foregoing sub-subparagraph (ii) is released and of no further
force or effect.
3.3 Vesting of PropertyRights. This Agreement, the Zoning Application, and
the Subdivision Application, collectively, constitute an approved "site-specific development
plan" as defined in the Vested Property Rights Statute and Section 17.14.100 of the Municipal
Code. The owners of the Property shall have Vested Property Rights to undertake and complete
development and use of the Property and the Project as provided in the Development Plan.
Pursuant to Section 17.14.050 of the Municipal Code:
Approval of this plan constitutes a vested property right
pursuant to Article 68 of Title 24, C.R.S., as amended.
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3.4 Property Rights Vested. The rights identified below shall constitute the
Vested Property Rights under this Agreement:
(a) The right to develop, plan and engage in land uses within the
Property and the Project in the manner and to the extent set forth in and pursuant to the
Development Plan.
(b) The right to develop, plan and engage in land uses within the
Property and the Project in accordance with the densities, physical development standards_
and other physical parameters set forth in the Development Plan.
(c) The right to develop the Project in the order, at the rate and at the
time as market conditions dictate, subject to the terms and conditions of the Development
Plan.
(d) The right to develop and complete the development of .the Project
(including, without limitation, the right to receive all Town approvals necessary, for the
development of the Project) with conditions, standards and dedications which are no
more onerous than those imposed by the Town upon other developers in the Town on a
uniform, non-discriminatory and consistent basis, and subject only to the exactions and
requirements set forth in the Development Plan; provided that such conditions, standards
and dedications shall not directly or indirectly have the effect of materially and adversely
altering, impairing, preventing, diminishing, imposing a moratorium on development,
delaying or otherwise adversely affecting any of the Owner's rights set forth in the
Development Plan.
(e) The Town shall not initiate any zoning, land use or other legal or
administrative action that would directly or indirectly have the effect of materially and
adversely altering, impairing, preventing, diminishing, imposing a moratorium on
development, delaying or otherwise adversely affecting any of the Owner's rights set
forth in the Development Plan.
3.5 No Obligation to Develop. Except as the Village Annexation Agreement
provides otherwise, Owner shall have no obligation to develop all or any portion of the Project
and shall have no liability to the Town or any other party for its failure. to develop all or any part
of the Project.
3.6 Compliance with General Regulations. Except as otherwise provided in
this Agreement, the establishment of Vested Property Rights under this Agreement shall not
preclude the application on a uniform and non-discriminatory basis of Town regulations of
general applicability (including, but not limited to, building, fire, plumbing, electrical and
mechanical codes, the Municipal Code, and other Town rules and regulations) or the application
of state or federal regulations, as all of such regulations exist on the date of this Agreement or
may be enacted or amended after the date of this Agreement; provided, however, that such newly
enacted or amended Town regulations shall not directly or indirectly have the, effect of materially
and adversely altering, impairing, preventing, diminishing, imposing a moratorium on
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development, delaying or otherwise adversely affecting any of Owner's Vested Property Rights.
Owner does not waive its right to oppose the enactment or amendment of any such regulations.
ARTICLE 4
Hishway 6 Connector Road and Related Public Improvements
4.1 Access; Roads. Access, ingress and egress to, from and within the Project
by public street shall be as generally depicted in the Subdivision Application and more
particularly described in the Village Final Plat and the Village SIA. Nothing set forth herein
shall prohibit or limit Owner's right to construct or maintain private roads and drives on any
portion of Owner's property. TCMD shall construct the public roads within the Project in
accordance with applicable Town standards as set forth in the Village Final Plat and the
Village SIA. The establishment of rights-of-way for and construction of public streets within the
Project shall be as set forth below.
(a) Highway 6 Connector Road. The alignment of the Highway 6
Connector Road and the configuration of the intersections of the Highway 6 Connector
Road with the other public rights-of-way within 'the Project shall be as set forth in the
Village Final Plat and the Village SIA. As more particularly set forth in the Village
Annexation Agreement, and pursuant to the terms and. conditions thereof, TCMD shall
own the Highway 6 Connector Road right-of-way and shall construct and own the
improvements within the Highway 6 Connector Road right-of-way. In order to facilitate
construction of the Highway 6 Connector Road, TCMD shall endeavor to assemble the
requisite right-of-way by a combination of one or more of the following means:
(i) acquisition from the County of Eagle of those portions of the Property consisting of
existing dedicated public rights-of-way situate within the proposed Highway 6 Connector
Road alignment, (ii) conveyance from Owner of Tract A as depicted in the Subdivision
Application, and (iii) acquisition from the owner thereof, whether by condemnation or
conveyance in lieu thereof, of any additional property situate within the proposed
Highway 6 Connector Road right-of-way. During the period of TCMD's ownership of
the Highway 6 Connector Road right-of-way and improvements, pursuant to the terms
and conditions of the Village Annexation Agreement, the Town shall maintain the
Highway 6 Connector Road and the Town shall calculate and TCMD shall reimburse the
Town for such services in the same manner as provided ' in the Village Annexation
Agreement for roads located within the Village (at Avon).
(b) Nottingham Ranch Road. In order to facilitate construction of the
Highway 6 Connector Road, TCMD shall endeavor to acquire, from the County of Eagle
the existing right-of-way for Nottingham Ranch Road as dedicated by previously
approved subdivision plats. Upon acquiring the requisite rights-of-way as provide herein,
TCMD shall realign Nottingham Ranch Road as generally depicted in the Subdivision
Application and, with respect to the intersection with the Highway 6 Connector Road, as
more particularly set forth the Village Final Plat and the Village SIA. Those portions of
the existing Nottingham Ranch Road right-of-way which are within the proposed
Highway 6 Connector Road right-of-way shall be subject to the provisions of
subparagraph (a) above. Upon completion of the Highway 6 Connector Road and related
re-alignment of Nottingham Ranch Road as provided for herein, TCMD shall convey to
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the Town by quit claim deed, or otherwise dedicate to the Town, those portions of the
existing Nottingham Ranch Road right-of-way which are not within the proposed
Highway 6 Connector Road right-of-way, and which continue. to be utilized as public
right-of-way for the realigned Nottingham Ranch Road.. From and after such conveyance
or dedication, the Town shall own and maintain all improvements within the Nottingham
Ranch Road right-of-way as realigned. Notwithstanding the foregoing, however, TCMD
shall retain Tract B, and reserves the right to convey Tract B to an adjacent property
owner if, in the sole and absolute determination of TCMD's board, of directors, such
conveyance will facilitate acquisition of the requisite public rights-of-way or is otherwise
in the public interest. In connection with any such conveyance and upon receipt of a
request from TCMD, the Town Council shall consider and promptly take final action on
an ordinance disconnecting Tract B in accordance with Section 31-12-501 C.R.S., as
amended.
(c) Eagle Bend Drive. In order to facilitate construction of the
Highway 6 Connector Road and related public improvements, TCMD shall endeavor to
acquire from the County of Eagle the existing right-of-way for the portion of Eagle Bend
Drive situate within the Property as dedicated by previously approved subdivision plats.
Upon acquiring the requisite rights-of-way as provide herein and completing construction
of the bridge to be constructed over the Eagle River as provided in the Village SIA,
TCMD shall realign and otherwise re-configure Eagle Bend Drive as depicted in the
Subdivision Application and, as applicable, in the Village Final Plat, and the Village SIA.
Those portions of the existing Eagle Bend Drive right-of-7way which are within the
proposed Highway 6 Connector Road right-of-way shall be subject to the provisions of
subparagraph (a) above. Upon completion of the Highway 6 Connector Road and related
realignment and reconfiguration of Eagle Bend Drive, as generally provided herein,
TCMD shall convey to the Town by quit claim deed or otherwise dedicate to the Town
those portions of the existing Eagle Bend Drive right-of-way which are not within the
proposed Highway 6 Connector Road and which continue to be . utilized as public
right-of-way for the realigned Eagle Bend Drive. From and after such conveyance or
dedication, the Town shall thereafter own and maintain all improvements within the
Eagle Bend Drive right-of-way as realigned and reconfigured. With respect to the
portion of current Eagle Bend Drive right-of-way which is neither conveyed or dedicated
to the Town, as required above, nor situate within the proposed Highway 6 Connector
Road right-of-way, following completion of the realignment and reconfiguration of Eagle
Bend Drive, (i) TCMD shall convey to Traer any such portion which is situate within the
Development Parcels, and (ii) TCMD shall convey to the Town any such portion which is
situate within Lot 1, as depicted in the Subdivision Application.
4.2 Municipal Services. Except as this Agreement expressly provides
otherwise, the Town shall provide all Municipal Services to the Property on a uniform and
non-discriminatory basis, upon the same terms and conditions as such services are provided to
other areas within the Town.
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•
ARTICLE 5
Default, Remedies, Termination
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5.1 Default by Town. A "breach" or "default" by the Town under this
Agreement shall be defined as:' (a) any zoning, land use or other action or inaction, direct,
indirect or pursuant to an initiated measure, taken without Owner's consent, that alters, impairs,
prevents, diminishes, imposes a moratorium on development, delays or otherwise materially and
adversely affects any development, use or other rights of Owner under the Development
Agreement; or (b) the Town's failure to fulfill or perform any material obligation of the Town
contained in this Agreement.
5.2 Default by Owner or by TCMD. A "breach" or "default" by Owner or by
TCMD shall be defined as a failure to fulfill or perform any material obligation of that party
contained in this Agreement.
5.3 Notices of Default. If any party defaults under this Agreement, the
non-defaulting party or parties shall deliver written notice to the defaulting party or parties of
such default, at the address specified in Section 6.8, and the defaulting party or parties shall have
30 days from and after receipt of such notice to cure such default. If such default is not of a type
which can be cured within such 30-day period and the defaulting party or parties gives written
notice to the non-defaulting party or parties within such 30-day period that it is actively and
diligently pursuing such cure, the defaulting party or parties shall have a reasonable period of
time given the nature of the default following the end of such 30-day period to cure such default,
provided that such defaulting party is at all times within such additional time period actively and
diligently pursuing such cure.
5.4 Remedies.
(a) If any default under this Agreement is not cured as described
above, the non-defaulting party or parties shall have the right to enforce the defaulting
party's obligations hereunder by an action for any equitable remedy, including injunction
and/or specific performance, and/or an action to recover damages. Each remedy provided
for in this Agreement is cumulative and is in addition to every other remedy provided for
in this Agreement or otherwise existing at law, in equity or by statute.
(b) The Town acknowledges that since this Agreement constitutes a
development agreement which confers Vested Property Rights for a period exceeding
three years, if 'the Town breaches or defaults hereunder, in addition to any of the
foregoing remedies, Owner shall be entitled to:
(i) : recover from the Town any damages that would have been
specifically available to Owner as contemplated in Colorado Revised Statutes
Section 24-68-105(1)(c) as in effect on the Effective Date, plus any other and
additional damages provable at law; and
(ii) cause the Property, or any portion thereof designated by
Owner, to be disconnected from the Town.
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:.fi-,:~,.
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Sara J Fisher Eagle, CO 289 R 140. 00 D 0.00
ARTICLE 6
Miscellaneous
6.1 Applicable Law. This Agreement shall be construed and enforced in
accordance with the laws of the State of Colorado.
6.2 No Joint Venture or Partnership. No form of joint venture or partnership
exists between the Town, TCMD and/or Owner, and nothing contained in this Agreement shall
be construed as making the Town, TCMD and/or Owner joint venturers or partners.
6.3 Expenses. Except as otherwise provided in this Agreement, Owner and
the Town shall each bear their respective costs and expenses associated with entering into,
implementing and enforcing the terms of this Agreement.
6.4 Waiver. No waiver of one or more of the terms of this Agreement shall
constitute a waiver of other terms. No waiver of any provision of this Agreement in any instance
shall constitute a waiver of such provision in other instances.
6.5 Town Findings. Town hereby finds and determines that execution of this
Agreement is in the best interests of the public health, safety, and general welfare and the
provisions of this Agreement are consistent with the Town's comprehensive plan, development
regulations and policies.
6.6 Severability. If any term, provision, covenant or condition of this
Agreement is held by a court of competent jurisdiction to be invalid, void or unenforceable, the
remaining provisions of this Agreement shall continue in full force and effect so long as
enforcement of the remaining provisions would not be inequitable to the party against whom
they are being enforced under the facts and circumstances then pertaining.
6.7 Further Assurances. Each party shall execute and deliver to the other all
such other further instruments and documents as may be reasonably necessary to carry out this
Agreement in order to provide and secure to the other party the full and complete enjoyment of
its rights and privileges under this Agreement.
6.8 , Notices. Any notice or communication required under this Agreement
between the Town and Owner must be in writing, and may be given either personally or by
registered or certified mail, return receipt requested. If given by registered or certified mail, the
same shall be deemed to have been given and received on the first to occur of (i) actual receipt
by any of the addressees designated below as the party to whom notices are to be sent, or (ii) five
days after a registered or certified letter containing such notice, properly addressed, with postage
prepaid, is deposited in the United States mail. If personally delivered, a notice shall be deemed
to have been given' when delivered to the party to whom it is addressed. Any party hereto may at
any time, by giving written notice to the other party hereto as provided in this Section, designate
additional persons to whom notices or communications shall be given, and designate any other
address in substitution of the address to which such notice or communication shall be given.
Such notices or communications shall be given to the parties at their addresses set forth below:
518060 7 MLAYER 10/23/01 1114 AM 13
If to Town:
Town of Avon
P.O. Box 975
400 Benchmark Road
Avon, Colorado 81620
Attention: Town Manager
With a required copy to:
Town of Avon
P.O. Box 975
400 Benchmark Road
Avon, Colorado 81620
Attention: Town Attorney
If to Owner, by mail delivery:
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Traer Creek LLC
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P.O. Box 640
to N N a
Vail, Colorado 81658
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Attention: William J. Post, Esq.
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'EMD Limited Liability Company
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P.O. Box 640
Vail, Colorado 81658
Attention: William J. Post, Esq.
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Or, for delivery other than by mail,
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Traer Creek LLC
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0322 East Beaver Creek Blvd.
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Avon, Colorado 81620
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Attention: William J. Post, Esq.
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EMD Limited Liability Company
0322 East Beaver Creek Blvd.
Avon, Colorado 81620
-
Attention: William J. Post, Esq.
With a required copy to:
0
Often, Johnson, Robinson, Neff & Ragonetti, P.C.
950 17th Street, Suite 1600
Denver, Colorado 80202
Attention: Munsey L. Ayers, Esq.
518060 7 MLAYER 10/23/01 11 14 AM 14
0 0
If to TCMD by mail delivery
Traer Creek Metropolitan District
P.O. Box 640
Vail, Colorado 81658
Attention: President
Or, for delivery other than by mail
Traer Creek Metropolitan District
0322 East Beaver Creek Blvd.
Avon, Colorado 81620
Attention: President
With a required copy to:
Traer Creek Metropolitan District
c/o McGeady & Sisneros, P.C.
1675 Broadway
Suite 2100
Denver, Colorado 80202
Attention: Darlene Sisneros, Esq.
6.9 Assignment. This Agreement shall be binding upon and, except as
otherwise provided in this Agreement, shall inure to the benefit of the successors in interest or
the legal representatives of the parties hereto. Owner shall have the right to assign or transfer all
or any portion of its interests, rights or obligations under this Agreement to third parties
acquiring an 'interest or estate, in. the Property, including; but not -limited to, purchasers or long
term ground lessees of individual lots, parcels, or of any improvements now or hereafter located
within the Property, provided that to the extent Owner assigns any of its obligations under this
Agreement, the assignee of such obligations shall expressly assume such obligations. The
express assumption of any of Owner's obligations under this Agreement by its assignee or
transferee shall thereby relieve Owner of any further obligations under this Agreement with
respect to the matter so assumed.
6.10 Counterparts. This Agreement may be executed in multiple counterparts,
each of which shall be deemed to be an original and all of which taken together shall constitute
one and the same agreement.
6.11 Recitals. The recitals hereof are hereby incorporated herein by this
reference and made substantive provisions of this Agreement.
IIIkIIIIIIINIIIIIIIIIInIIIIIIIIIIIIIIIINII~IIIUII
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518060 7 MLAM 10123/01 11 14 AM 15
IN WITNESS WHEREOF, Owner and the Town have executed this Agreement
as of the date first written above.
OWNER:
TRAER CREEK LLC, a Colorado limited liability
company
By:
Name: Magnus indholm
Title: Manager
EMD LIMITED LIABILITY COMPANY, a
Colorado limited liability company
By: LAVA CORPORATION, a Colorado
corporation, Manager
By: - -
Nam : Magnu indholm
Title: President
TCMD:
TRAER CREEK METROPOLITAN DISTRICT, a
quasi-municipal corporation and political
subdivision of the State of Colorado
By:
Name: Willia'm-J.Pwf'v
Title: President
ATTEST: lu 791067
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N~ Gr ATE
Title: Secretary
300
518060 7 MLAYER 10/23/01 11 14 AM 16
TIDE TOWN:
TOWN OF AVON, a municipal corporation of the
State of Colorado
N
Title Mayor
Approved as to legal form by:
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Name: „-t r_cc,a - 6A
Title: Town Attorney
STATE OF COLORADO )
ss:
COUNTY OF j:.ALA`E )
The foregoing instrument was acknowledged before me this 23rd day of
2001, by Magnus Lindholm, as Manager of Traer Creek LLC, a Colorado
limited liability company.
Witness my hand and official seal.
My commission expires: 12-•8 •Z;Sz4
111111 jjjj~~Jj 1111 ~11 791157
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Sara J Fisher Eagle CO 289 R 140.00 D 0.00
518060 7 MLAYER 10/23/01 11.14 AM 1
• 0
STATE OF COLORADO )
ss:
COUNTY OF EN.,, l,E )
The foregoing instrument was acknowledged before me this 2 SA day of
Q mrs'S' . , 2001, by Magnus Lindholm, as President of LAVA Corporation, a Colorado
corporation, as Manager of EMD Limited Liability Company, a Colorado limited liability
company.
Witness my hand and official seal.
My commission expires: 2 • • ZOOS ~ Put
ERIC
Ann '0A11
no REGAT
Notary is
pF C®l,
791067
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Sara J Fisher Eagle CO 289 R 140.00 D 0.00
STATE OF COLORADO )
ss:
COUNTY OF
The foregoing instrument was acknowledged- before me this 23rd day of
~.•~pbpy , 2001, by William J. Post, as President of Traer Creek Metropolitan District, a
quasi-municipal corporation and political subdivision of the State of Colorado.
Witness my hand and official seal.
My commission expires: i 1.~OZ I~o~i°
Notary
*j 0
®Cti a O
BYJA"
5180607 ML.AYER 10/23/01 11 14 AM 18
STATE OF COLORADO )
ss:
COUNTY OF Eagle )
The foregoing instrument was acknowledged before me -this 2-j _ day of
gatohnr_ , 2001, by 3a3, yocitar , as Mayor of the Town
of Avon, a municipal corporation of the State of Colorado.
Witness my hand and off
ion expires:
, • pTA9.cfy
Poo
•V80
cF co
My commission Expires 9/19/M
791067
Page: 27 of 28
Sara J Fisher Eagle. co 288 R 140.00 /04D2000010.30C
518060 7 MLAYER 10/23/01 11 14 AM 19
•
•
Ti VUTUTT A
Legal Description of the Property
Lots 2, 3, 4 and 5 McCrady Acres, according to the final plat thereof recorded in Book 558 at
Page 533, in the off ce of the Eagle County, Colorado, Clerk and Recorder.
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•
C
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D~rc~raP.P.O, C-Do,-,C q-75
70,14Q, CF -A,
ANln.l y CO ~ICo?O
k
Memo
TO: Honorable Mayor and Town Council
Thru: Bill Efting, Town Manager
From: Norm Wood, Town Engineer-NO
Da#e: October 4, 2001
Re: McCrady Acres - Annexation, Development and Subdivision Improvement
Agreement - First Reading
Ordinance No. 01-15, Series of 2001, an Ordinance Approving an
Agreement Concerning the Terms of Annexation, Development and
Subdivision of the Lands Described in the McCrady Acres Petition for
Annexation; Authorizing and Instructing the Mayor of the Town of Avon
to Sign the Agreement on behalf of the Town; and Approving a Site
Specific Development Plan Establishing a Vested Property Right Pursuant
to Article 68 of Title 24, C.R.S., as Amended.
Summary: Ordinance 01-15, Series of 2001 would approve and
authorize the Mayor to execute the attached "Annexation, Development and Subdivision
Improvement Agreement for McCrady Acres Annexation by and between the Town of
Avon and EMD Limited Liability Company, Traer Creek LLC and Traer Creek
Metropolitan District. In general this Agreement provides that proposed Lots 2 and 3 will
be zoned Neighborhood Commercial in conformance with the their Zoning Application,
the Subdivision will be platted in conformance with the Subdivision Application and that
these applications and this agreement will constitute an approved site-specific
development plan. This site-specific development plan will establish a vested property
right with a term of 20 years. The Agreement further provides for execution of
appropriate documents to establish titles to Town and Developer owned properties to
correspond with the revised Lot lines in the Resubdivision. The Agreement also
establishes Security for Performance of Public Improvement Obligations as required by
the Avon Municipal Code. This security will be provided through the Subdivision
Improvements Agreement for The Village (at Avon), Filing 1 and the Town is authorized
to withhold all building permits in the annexed area until this agreement is in place and
fully funded.
BEngineering\Avon Vi11age\Anaezation\Annex Dev & SIA Ord 01-15 Memo.Doc
We recommend first reading approval of Ordinance No. 01-15, Series of 2001, An
Ordinance Approving an Agreement Concerning the Terms of Annexation, Development
and Subdivision of the Lands Described in the McGrady Acres Petition for Annexation;
Authorizing and Instructing the Mayor of the Town of Avon to Sign the Agreement on
behalf of the Town; and. Approving a Site Specific Development Plan Establishing a
Vested Property Right Pursuant to Article 68 of Title 24, C.R.S., as Amended.
Pr6posed Motion:. I move to approve on first reading, Ordinance No. 01-15,
Series of 2001, An Ordinance Approving an Agreement Concerning the Terms of
Annexation,'Development and Subdivision of the Lands Described in the McGrady Acres
Petition for Annexation; Authorizing and Instructing the Mayor of the Town of 'Avon to
Sign the Agreement on behalf of the Town; and Approving a Site Specific Development
Plan Establishing a Vested Property Right Pursuant to Article 68 of-Title 24, C.R.S., as
Amended.
Town Manager Comments:
IAEngineering\Avon Village\Annexation\Annex Dev & SIA Ord 01-15 Memo.Doc 2