HomeMy WebLinkAboutbocc.con.043.1992 ,,�-'' .
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AGREEMENT FOR
PITRIN COIINTY SZGHF7AY 82 ROAD U9E TAX PROJECT f;;.
ASPEN, COLORADO
" ,H
� THIS AGREEMENT, made this Zg day of , 1992 by and
between WILDCAT RANCH, LTD. here n1 after cal�he "Owner" and
- " PITKIN COUNTY, COLORADO hereinafter called the "Count "
; y � �.�
- . .. { WITNESSETH
.. . � � �„
WHEREAS, In order to better access Owner's property known as �
Wildcat Ranch, owner desires to make certain improvements to State '
�� Highway 82 consisting of a left turn lane (the "Highway 82/Lake � �
Wildcat Road Intersection") .
=3"� WHEREAS, Owner has obtained a permit from the State Highway
Department for the construction of the Highway 82/Lake Wildcat Road
Intersection.
, r ,
k.
`� WHERERS, plans for the construction of the Highway 82/Lake
� - Wildcat Road Intersection are part of the Plans, Specifications and
Constructions Documents dated April, 1992 prepared by Banner ;.
Assaciates titled 1992 Highway 82 Use Tax Project (the
"Construction Documents") .
�-;�^�
.,1 •WHEREAS, Owner desires to contract with the .COUnty to
Iconstruct the Highway 82/Lake Wildcat .Road Intersection. ( '
� _i{% � ARTICLE I
��
THAT THE OWNER hereby agrees to the following:
A. To incorporate the Highway 82/Lake Wildcat Road
� ' ��:' Intersection into the 1992 Highway 82 Road Use Tax Project.
�..: . _ . _
'� ' B. To place $175,75o in an escrow account (the "ESCrow
=,�'�- Account") with Pitkin County Title Company as payment for the
A', '
5.�; construction of the Highway 82/Lake Wildcat Road Intersection. The
- sum to be placed in the Escrow Account represents $155,000 for the •'
cost of construction, a 5$ cost overrun contingency amount of ����
�.;; $7,750, and $13,000 for construction administration. `
4 ,
v: C. To provide through an escrow agreement for the funding of
,��,� monies from the Escrow Account directly to the County for the
construction of the Highway 82/Lake Wildcat Road Intersection. . ,
� I.
� ARTICI,E II i -
�; � -
?
� THAT THE COUNTY hereby agrees to the following: �,;
t
'-,� A. To incorporate the Highway 82/Lake Wildcat Road ����� ;
Intersection into the 1992 Highway 82 Road Use Tax Project. e �:
4�
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B. To accept and distribute funds form the Escrow Account -
for the construction of the Highway 82/Lake Wildcat Road �
;� Intersection. -
tia
C. To provide Owner with an accounting showing the status of
the construction of the Highway 82/Lake Wildcat Road Intersection ��
with each Contractor payment application. �^= �
-: s`;,
� ,� D. That the amount to be deposited into the Escrow Account �•r
_ by Own�r will be sufficient to pay all costs of the Highway 82/Lake �°;;;;::
I, � Wildcat Road Zntersection, and that Owner shall not be required to �';
contribute any additional funds for the construction of the Highway �,
82/Lake Wildcat Road Intersection unless circumstances arise which ±
` were not the cause of the County and which could not be reasonably � !�•:-
' �+. � foreseen by the County when pricing the construction costs, and �..'�
which circumstances cause an increase in the amount of construction �
' r cos s; that construction thereof will commence no later than ;+.
-=il (' Z and shall be completed no later than '7��� s
i;
' ARTICLE III ;
� IT IS FURTHER mutually agreed by the parties hereto:
A. The County shall enter into a contract with Elam ,
� Construction Company hereinafter called "Contractor" for the �y,
construction of the improvements associated with the 1992 Highway i`�
''"�n� � 82 Road Use Tax ProjeCt. E''
I � ..
� B. The contract between the County and the Contractor shall t
^ •� be in accordance with the Construction Documents which are t'::. '
�' incorporated herein by reference. k:,;;�:
' C. From the Escrow Account, the County shall be responsible �'�-``
for full and timely payment to Contractor for the Highway 82/Lake �'
� ��� Wildcat Road Intersection. The County shall hold harmless Owner +
,' "' from all claims and damages arising out of the work on the Highway i '
�,� 82/Lake Wildcat Road Intersection. In addition the County shall ``''
: '`�:�; require the Contractor to name Owner as an additional insured with ;
respect to all coverage required to be carried under the �
- Construction Documents. �•
- �
K� D. This Agreement may be terminated by either party upon
fifteen (15) days prior written notice to the other party in the ':
.� event of a substantial failure of the other party to fulfill its � ;
obligations under this Agreement through no fault of the '"
terminating party. �. ,
_�
` E. This Agreement may be terminated by the Owner for its
;, ';
� ° convenience upon fifteen (15) days prior written notice to the ;, 1!'
'' County. In the event of termination as provided for in this ., �s;,:`
Paragraph E., the County shall be paid in full for the portion of "-
the work performed prior to the termination date. � '� rt}��..
';� �
' .�� j. � .
F. Upon receipt of the termination. action pursuant to ' ,
..�i'.� ' r .' .
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Paragraphs (Dj. or (E) above, the County shall promptly discontinue �;,.'i;i�.,
all performance under this Agreement (unless the notice diracts,
otherwise) and all data drawings, j specifications, reports, +t;;';,`
? estimates, summaries and other such information and materials as
� may have been accumulated by the County in performing this 4�`����
�;,.:.t;�`, :
s Agreement, whether completed or in process shall be delivered to ,,_;,?,-', �
s Owner. ,,`
G. Upon termination pursuant to Paraqraph (D) above, the � s'
- - i Owner may take over the work and prosecute the same to completion •*^r:�::>
by agreement with another party or otherwise. Any work taken over '
by the Owner for completion will be completed at the Owner�s risk, -
and the Owner will hoZd harmless the County from all claims and `t. `
•, �, damages arising out of use of the County's work. �.�:-'.
. . , � k }..�..
H. If, after termination for failure of the County to �,
fulfill contractual obli,gations, it is determined that the County
` �i had not so failed, the terminatian shall be deemed to have been
effected for the convenience of the Owner. In such event,
adjustment of the price provided for in this Agreement shall be in ��
accordance with Paragraph (E) above. ,F ,
Should litigation occur between the parties relating to the }
terms, covenants and conditions hereof, litigation expenses, �' .
collection fees, witness fee, court costs and attorney's fees
�a� �- incurred by the prevailing party shall be paid by the non-
a , prevailing party.
�
� ARTZCLE IV � ,
' .z �
Neither the Owner nor the County may delegate, assign, sublet, � �:
or transfer his duties or interest in the Agreement (other than the �
� County contracting with the Contractor) without the written consent �
� y,� of the other party. y -
� ARTICI,E V �
�
ti�' This Agreement constitutes the entire agreement between the ' �
; Owner and the County and supersedes all prior written or oral
understanding. This Agreement may only be amended, supplemented,
modified or canceled by a duly executed written instrument. -
{'
'� AGREEMENT FOR
PITRIN COUNTY HIGHWAY 82 ROAD USE TAX PROJECT � .
s;. ASPEN� COLORADO i �
� +,
!
;;�, IN WITNESS WHEREOF, the parties have made and executed this •
-'�:;� Agreement as of the date indicated at the beginninq of this
;I Agreement. '
; Jk .,.
OWNER: COUNTY: �� '
..�'� � '��°.
,. �°;�': WILDCAT RANCH, LTD., PITKIN COUNTY r$?��.}.�:
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�� a;Colorado limited partnership rt" `
� By WILDCAT CORPORATION, a � :
�; Colofado corporation ' •
� General Partner ��°
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By: �„".'-�-� ���
By� J es R. True, Chairman, �� �
Niel C. Morga , resident itkin Cotinty Board of `
�'�
Commissioners 7�`rw��::
_ .. . � � � . ;,r�,,:_:
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Approved as to Form and Content: `'
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•,i_. . .... �—� . .. . .r,
By: ,;•'
John Ely, Ass st it.kin
County Attorne p.
B � ,G�/• � � '�
� '�; ud Eyl , itkin Co ty Engineer
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: ESCROW AGREEMENT AND INSTRUCTIONS
;�
" The undersigned parties, Wildcat Ranch, Ltd. ("Wildcat"j �`� '
� and Pitkin Count Colorado ��COUnt " rt���
� y, ( y ), hereby appoint Pitkin
_ j
_ � County Title Inc., whose address is 601 E. Hopkins Avenue, Asspen, :'
k;
± Colorado 81611, Escrow Agent on the terms and conditions set forth
,,•' •I
-'-i herein.
, 1._
":d 1. Escrow Agent, by its signature of this Escrow
.;:`�1'� Agreement, acknowledqes receipt of $175,750.00, deposited with it
` by the undersigned parties, which it shall hold in an interest
�k�,� . . _ . . . .. .
bearing account with interest acczuing to the benefit of Wildcat
whose federal tax identification number is $L�.-j��7q��
%.� 2. The Punds placed in escrow shall be used by the
-..���-
_ County to construct a north-bound turn lane on State Highway 82 at
the intersection of State Highway 82 and Lake Wildcat Road. Esarow
�; . �.
Agent shall pay out of the funds it holds hereunder all invoices '.
r:
and statements presented to it from a contractor, or contractors, �
;��' 3���: �- ��.:
� xF 'i as designated by County. Prior making such payment, Escrow Agent j '
;'
� shall submit the invoice ahd/or statement to Wildcat at the address ' '
.r`
� listed below, who shall have 24 hours from receipt in which to � ��,
;� approve or disapprove the invoice and/or statement for payment. If t �:��
y:. � ..
Wildcat does not deliver a written notice of protest of the invoice f ,
�:: and/or statement within such 24 hour time period, Escrow Agent
� �,
`�: shall make payment according to the invoice and/or statement.
"� f
" '�, ShonZd Wildcat protest such payment in writing, Escrow Agent shall ii 1"
•;� �P
� notify County and shall make no disbursements from the Escrow �r�
n�
` ��i Account until authorization to pay or other instructions are �{� '
�'�'e!�1 �
E
` �s received jointly from both county and Wildcat. t� ``
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'� 3. Escrow Agent shall have no liability to pay any -
_ a -
! amounts in excess of the funds it hoZds in this escrow. S�:x=.
=� 4. Escrow Agent shall deliver to Wildcat any funds � �
� � t�.:
� remaining in this escrow upon notice from Wildcat and County that j:�., �
- .. �
,� the Escrow is terminated. '�'
V } 5. Escrow Agent shall be liable only for its willful �
• '� I
tacts and misconduct with respect to this escrow and shall not be 1
<� called upon to construe any othez documents or agreements made in
� connection herewith. Escrow Agent shall hot be liable or �
x �
responsible for the sufficiency, correctness or validity of this
t
Agreement nor shall it be liable for any loss which may occur by �
- reason of forqeries or misrepresentations. �-'-
����
i'� 6. These instructions may be altered, amended, modified 1
or revoked by writing onZy, signed by all of the parties hereto, �
� .�
and approved by the Escrow Agent. Any notice reguired or desired ; ..
�, to be �
_ given by Escrow Agent to any other party shall be given by
� �� ��� first class mail, postage prepaid, addressed to the addresses of �
� the parties set forth below. Escrow Agent shall not be personally � ��
,,c�
:� liable for ahy act it may do or omit to do hereunder as agent, i
,..�
: while acting in good faith and in exercise of its own best �
`� judgment, and any act done or omitted by it pursuant to the advice
*� of its own attorney shall be conclusive evidence of such good � F
faith. � .
- ;� 7. If at any time a dispute should exist as to the duty � -'
.:j �'
.ri of the Escrow Agent under the terms hereof, the Escrow Agent may �'' ,�t_.:`.
���
` � deposit the funds with the Clerk of the District Court of the � �'�
��:
.;. j �c . � 4;
�� County of Pitkin, State of Colorado, and may interplead the parties P� �
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` hereto. Upon such deposit and the filing of its complaint in 5�•
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;i interpleader, the Escrow Agent sha1S be released from all further
'¢ liability under the terms hereof. The parties hereto, for _
A �K':':.-.
t themselves, their heirs, successors and assigns, do hereby submit 'it::.:.
i .
� themselVes to the� jurisdiction of said court and do hereby appoint F ,..
� said Clerk of the Court as their agent for service of all process
r ' '
� in connection with the proceedings mentioned in this paragraph.
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• �ti 8. In consideration of the acceptance of this escrow by
' . Escrow Agent, the parties agree to indemnify and hold Escrow Agent ��
� harmless as to any liability incurred by reason of its having }
accepted the escrow or in connection herewith, and to reimburse it
F�
� for all its expenses including, among other things, attorneys� fees
' `,� and court costs incurred in connection herewith. Such indemnity
�._.
v�x�-- sha13 include attorneys' fees incurred by the Escrow Agent in !
Y
� , defendinq a suit against it by any of the parties hereto in which
� _ ;;
q�:" Escrow Aqent prevails; and the Escrow Agent shall have a £irst and �.•;�
prior lien upon the funds deposited hereunder to secure the
r
�-` �� performance of said indemnity and payment of its fees and expenses. �.
� �a:
'� The provisions of this escrow shall be binding upon the legal i.
T�h' � e
c;: representatives, heirs, successors and assigns of the parties
ti. . _ . . ..
- ;�� hereto. '
r.
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9, In the event of any litigation arising out of this
escrow between Wildcat and County, the Court shall award to the �
�, r
�' prevai2ing party all reasonable costs and expenses, including �
,, .
�� attorneys' fees.
' �s ^.
_ 10. These Escrow Instructions may be executed in I ��.`�.
- r .:� . ,� �,.
', �� counterparts and, as executed, shall constitute one agreement, krt .
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- - binding on all the parties hereto notwithstanding that all said
� parties are not signatory to the original or same counterpart.
;,; IN WITNESS WHEREOF, the undersigned have hereunto affixed
their signatures effective /�/(o�T g , 1992.
(
' SIGNATURE PAGE TO ESCROW AGREEMENT
` ;q WILDCAT RANCH, LTD.
�� ; �Q, �
._�.'..i�-� ' . . - .
�'
"= Address:
, �' � �Jd �✓ J6 � �
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,�� 3 . G' /
-��b'`;�
.� PITKIN COUNTY, COLORADO
. -. .. .. _ - . � �. . � - . � . . � � . � .-c.,,--._sL__-- .
.:, ��.��:. . _ � . . . . . . CIf/�S�Lq9a� SOGG .
ddress: 30 ,.�',��sr.v f%,
;,�.�4 / tPe� Lo 6'IG�!
_ `�
ESCROW AGENT:
- PITKIN COUNTY TITLE, INC. t:
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