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HomeMy WebLinkAbout25-100 Amendment to Denmore F1 Subdivision Agreement 09-24-2025SOLUTION NO 25-100 A RE t LIJTION OF THE BOARD OF TRUSTEES OF THE TOWN OF FIRES1 ONE, COLORADO, , APPROVING AN AMENDMENT TO THE DENNI RE FILING I SUBDIVISION AGREEMENT WHEREAS, , the `1 msn of Firestone ('` f n") and Fri Pointe homes H loldings. Inc., as successor -in -interest to 1'PT! Firestone I rail, LI.C ("Owner"), entered into that certain Subdivision Agreement regarding the Denrnore Filing I subdivision, dated October 24. 2023, and subsequentlyf recordled on No Pember• I, 2023. in the records of the Weld County Clerk and Recorder's Office (the "Original Agreement"). in furtherance of the subdivision and residential development of approximately 144 acres, more or less, of real property , as more fully described in I{'.xhhi it A to the Original Agreement ("Property",): and WHEREAS, the Town and Owner desire to amend certain provisions of the Original Agreement to clarify the s[own's rights to withhold building permits until Owner's timely completion of certain transportation -related public improvements regarding Phase 2 of filing 1, as more fully set forth in the proposed First Amendment to Denmore Filing I Subdivision Agreement. attached hereto as Exhibit A. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: I. The First Amendment to Denmore Filing 1 Subdivision Agreement between the "Town ofFirestone and (IAri Pointe homes holdings„ Inc. is approved in substantially the same fore as the copy attached to this resolution. "l'he Mayor is authorized to execute the agreement on behalf of the "Town. PASSE!) AND ADOPTED this 24th day of September. 2025. n C onyac ATTF `F: rriani Tana crs I,una, CMC. I own Clerk. APPRO S I'OIF' RMm 1 Keith , Town Attorney EXHIBIT A [First Amendment to Denmore F1 Subdivision Agreement] FIRST AMENDMENT TO DENMORE FILING I SUBDIVISION AGREEMENT THIS FIRST AMENDMENT 1O JENMORE FILING I SUBDIVISION AGREEMENT (this "Amendmen₹") is executed this day ofep2025, by and between TRI POINTE HOMES HOLDINGS, INC., as successor -in -interest to TPH FIRESTONE TRAIL, LLC, a Delaware corporation, with an address of 5350 S. Roslyn St., Ste. 400, Greenwood Village, CO 80111 ("Owner"), and the TOWN OF FIRESTONE, a Colorado municipal corporation, with an address of 9950 Park Avenue, Firestone, CO 80504 ("Town"). Owner and the Town may be referred to in this Amendment collectively as the "Parties." RECITALS WHEREAS, the Owner and the Town entered into that certain. Subdivision Agreement dated as of October 24, 2023, and recorded with the Weld County Clerk and Recorder under Reception No. 4928809 on November P, 2023 (the "Agreement"), which agreement is incorporated herein by reference, to ensure the construction and completion of certain public improvements as shown on Exhibit "B" to the Agreement (the "Public Improvements"); and WHEREAS, the Parties desire to amend the Agreement as provided in this Amendment, subject to the terms of the Agreement. AGREEMENT NOW, THEREFORE, in consideration of the mutual promises and agreements set forth herein and for other valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows: 1. Amendment to Section IX(A). Section IX(A) of the Agreement is hereby deleted in its entirety and replaced with the following: A. Transportation Owner shall construct the Firestone Boulevard and. Frontier Street Improvements, including the mast arm traffic signal at the Firestone Boulevard and Frontier Street intersection and HAWK. Traffic Signal at the Firestone Trail crossing, as shown in the accepted Construction Plans, The Frontier Street and interim intersections as depicted in the accepted Construction Plans shall be constructed as part of Phase 1 and shall be operational prior the issuance of any building permit. The Firestone Boulevard improvements, traffic signal at Firestone Boulevard and Frontier Street, and Firestone Trail HAWK Traffic Signal shall be constructed as part of Phase 2. 2. Amendment Controls. In the event of any conflict between Agreement and this Amendment, the provisions in this Amendment shall govern and control such conflicting provisions. 3. Covenants to Run with Land/Successors and Assigns. The restrictions, covenants and conditions as set forth in the Agreement and this Amendment shall run with such land within the Development and the same and shall extend to, and be binding upon, the successors, legal representatives, and assigns of the Parties. 4. Other Modifications. Except as expressly set forth herein, this Amendment shall not modify or amend the terms or provisions of the Agreement, and all other terms or provisions of the Agreement not otherwise modified or amended by this Amendment are hereby ratified and shall remain in full force and effect and constitute legal and. binding obligations of the Parties. 5. Headings. The section headings herein shall have no legal significance and are used solely for convenience of reference. 6, Defined Terms. Except as otherwise defined herein, all capitalized terms in this Amendment shall be the same meaning that was given to such terms in the Agreemen₹. 7. Entire Agreement. This Amendment contains the entire agreement of the Parties with respect to the subject matter hereof and may not be amended or modified except by an instrument executed in writing by the Parties. 8. Counterparts and Facsimile. This Amendment may be executed in counterparts, each of which shall be deemed an original, and all of which together shall be deemed to constitute one and. the same instrument. Each of the Parties hereto shall be entitled to rely upon a counterpart of the instrument executed by the other Party and sent by facsimile or electronic mail transmission. The Parties further agree that this Amendment may be executed by electronic copies of signatures, and that any electronic copies of signatures shall be binding upon the Party providing such electronic copy of signature as if it were the Party's original signature. Signature pages may be delivered by electronic mail to each Party as electronically imaged signatures such as .pdf files or by any other method which complies with the Uniform Electronic Transactions Act, C.R.S. § § 24- 71.3-1.01 et seq. (e.g., www.docusign.com). [Remainder of Page Intentionally Left Blankj [Signature pages foltowl 2 III WITNESS WHEREOF, the Parties have executed this Aendment,` on the date first set forth above. TPU FIRESTONE TRAIL, LL a Delaware limited liability company By: TRI POINTE HOMES HOLDINGS, ., a Delaware corporation, its Managing Member By: Name: Title: Vice President of Land Acquisition and Development STATE F COLORADO ss: COUNTY O1 The fore tin ins cut was acknowled „ed before nee this � . d df �I t 025, by 1Qd as of TNI FIRE Tt II LLC, a Delaware limited liability coz pany, by RI POINTE HOMES HOLO1NOS, INC, a Delaware ar corporation its Managing Member Witness my hand and official seal... My commission expires. ` _.µms ALEXANaRAGIar $OTA PUBLIC A STATE OF C LC NOT Y 1 7021402ZI69 Public COMMISSION EXPIRES as , 2O29 Notary TO: ToWN OF 011 I i A ' cry tuna; I 'I'uwn CkiL., R , .., • ri