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HomeMy WebLinkAbout24-62 Approving Final Subdivision Plat for Denmore F4 & Authorizing Subdivision Development Agrmt. 06-12-2024RESOLUTION N0.24-62 A RESOLUTION OF THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO, APPROVING A FINAL SUBDIVISION PLAT AND ACCEPTING THE PROPERTY INTERESTS DEDICATED BY THE FINAL PLAT FOR DENMORE FILING NO. 4; AND AUTHORIZING A SUBDIVISION DEVELOPMENT AGREEMENT PERTAINING TO THE DENMORE FILING NO. 4 SUBDIVISION WHEREAS, TPH Firestone Trail, LLC ("Applicant"), as the current owner of certain real property located within the Town of Firestone, Colorado, legally described as Tracts C, D and F, Denmore Filing No. 1, Town of Firestone, County of Weld, State of Colorado (the "Property"), has submitted a proposed final plat for the Property, entitled "Denmore Filing No. 4" (the "Final Plat"); and WHEREAS, after reviewing the Final Plat at its regular meeting pursuant to Section 16.7.6.D of the Firestone Development Code, the Board of Trustees finds the proposed Final Plat conforms to the approved preliminary plat of the Property, approved by the Board of Trustees through Resolution No. 2347 duly -adopted following a public hearing, and that the Final Plat substantially complies with the technical subdivision and platting requirements of the Firestone Development Code. WHEREAS, the Board of Trustees of the Town of Firestone believes it is in the best interest of the Town and its citizens to approve the Denmore Filing No. 4 Subdivision Development Agreement and to accept financial guarantees for improvements to be constructed by the Applicant. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE, COLORADO: Section 1. The above Recitals and Findings of the Board of Trustees are hereby adopted as findings of the Board and incorporated into this resolution. Section 2. The Board of Trustees hereby approves the final plat for Denmore Filing No. 4, attached hereto as Exhibit A and incorporated herein by this reference, subject to and contingent upon compliance with the following conditions: (a) All minor, technical corrections to the Final Plat shall be made to the Town's satisfaction. (b) Final Construction Documents shall be approved by the Town Engineer prior to the start of construction activities. (c) Applicant shall provide an updated title commitment for the Property contained within the Final Plat when the mylars are provided for recording, dated no later than thirty (30) days prior to submission of mylars. (d) Prior to recordation of the Final Plat, a Phase III Drainage Report shall be approved by the Town. (e) Prior to recordation of the Final Plat, a Final Traffic Impact Analysis shall be approved by the Town. (f) Prior to recordation of the Final Plat, a Final Utility Study shall be approved by the Town. (g) Applicant shall pay applicable fees incurred as a result of the application approval, including, but not limited to, utility, remapping, public land dedication, cash-m lieu fees, legal notice and legal review, and recording fees. 1 Section 3. The Denmore Filing No. 4 Subdivision Development Agreement between the Town of Firestone and Applicant is hereby approved in the form substantially similar to the form attached hereto as Exhibit B, with such revisions thereto as may be necessary for the Town's protection, and as approved by the Town Attorney's Office and the Town Manager. The Mayor is authorized to execute the Subdivision Development Agreement on behalf of the Town. Section 4. The dedication of all easements and all other places designated for public use as shown upon the final plat Denmore Filing No. 4 is hereby accepted by the Town of Firestone, subject however, to the condition that the Town shall not undertake maintenance of any easement or other place designated for public use until after construction of all necessary public improvements has been satisfactorily completed by the land owner and accepted in writing by the Town of Firestone. Section 5. The Planning and Development Director is authorized to make any changes to the mylar form of the approved Final Plat to correct errors and to make such other changes that are expressly authorized or required pursuant to this Resolution. Section 6. The Mayor and Town Clerk are hereby authorized and directed to certify upon the final subdivision plat the Town's approval and acceptance thereof. The Town Clerk is hereby authorized and directed to file the subdivision plat with Weld County Clerk and Recorder's office upon fulfillment of all conditions as indicated herein. Section 7. Unless otherwise extended by resolution of the Board of Trustees, the approval of the Denmore Filing No. 4 final plat shall be null and void if the conditions set forth in Section 2 are not complied with within one hundred and eighty (180) days of the date of this Resolution. PASSED AND ADOPTED this day of n , 2024. ATTEST: APPRO AS Town (:lerk William P. Hayashi, T�IVvn Attorney Frank G Jimenez, Pro Tem 2 EXHIBIT A Denmore Filing No. 4 Final Plat 3 EXHIBIT B Denmore Filing No. 4 Subdivision Development Agreement DENMORE FILING 4 SUBDIVISION AGREEMENT THIS SUBDIVISION AGREEMENT ("Agreement") is made and entered into this ) 2.. day of liAwflko2024, by and between the TOWN OF FIRESTONE, a Colorado numcipV1 corporation, 9950 Park Avenue, Firestone, Colorado, 80504, hereinafter referred to as "Firestone" or "Town," and TPH Firestone Trail, LLC a Delaware Limited Liability Company, 251 Little Falls Drive, Wilmington, Delaware, 19808, hereinafter referred to as "Owner;" and WHEREAS, Owner has submitted a Final Plat for DENMORE Filing 4 ("Development") attached hereto as "Exhibit A" and incorporated herein by reference. Said Final Plat has been approved by Firestone; and WHEREAS, the Town has reviewed its Water Supply Plan, which addresses the Town's existing water obligations and its present and future water supplies. The Town has also reviewed its Conservation Plan and its Municipal Code regarding water dedications, and has determined, at its sole discretion, that it will be able to provide an adequate water supply to serve the Properties water needs at full build out pursuant to Section 29-20-301 C.R.S. et seq. As a term and condition of providing said water, the Developer hereby agrees to comply with the Town's Municipal Code regarding water dedications and cash in lieu of water dedications; and WHEREAS, the regulations of Firestone require that the Owner enter into an Agreement with Firestone relative to improvements related to the development; and WHEREAS, this standard agreement has been modified by the parties as indicated by the addition of certain special provisions, if any, in Section IX. NOW, THEREFORE, in consideration of the foregoing, the parties hereto promise, covenant and agree as follows: I. TOWN ADMINISTRATIVE OFFICIAL For the purposes of this Agreement, "Town Administrative Official" shall be defined as the Town Manager or his or her designee. II. DEVELOPMENT OBLIGATION AND COORDINATION Owner shall be responsible for performance of the covenants set forth herein. Unless specifically provided in this Agreement to the contrary, all submittals to Firestone and acceptances required of Firestone in connection with this Agreement shall be submitted to, or rendered by, the Town Administrative Official, who shall have general responsibility for coordinating development with Owner. III. PUBLIC USE DEDICATION Owner shall convey to Firestone certain lands as described as open space and park in "Exhibit A" attached hereto and incorporated herein by reference. Conveyance of these lands shall be by plat 1 dedication in form and substance acceptable to Firestone. If not already conveyed, conveyance shall be made within thirty (30) days of the date of this Agreement. Owner shall also furnish at the time of conveyance, at its own expense, an ALTA title policy for all interest(s) so conveyed, subject to acceptance by the Town of Firestone. The property shall be free and clear of liens, taxes and encumbrances except for ad valorem real property taxes up to the date of dedication to the Town, but subject to all easements, rights -of -way, reservations, restrictions or other title burdens of record. IV. PUBLIC AND COMMON FACILITIES IMPROVEMENTS Owner agrees to design, construct and install according to Town accepted plans, all public improvements and common facilities specifically regulated necessary for the Development including, but not limited to, street, alley, curb, gutter, sidewalks, landscaping, irrigation, fencing, street lights, water, waste water, storm sewer and drainage improvements, trails and park improvements on and off of the Development (hereinafter, "Public Improvements" and "Common Facilities") and as described in `Exhibit B" attached hereto and made part hereof. Owner agrees to dedicate said improvements to Firestone, or others for the common facilities, and give a two (2) year guarantee for all improvements constructed. A. Construction Standards Owner shall construct all improvements required by this Agreement, and any other improvements constructed in relation to the Development, in accordance with plans and specifications accepted in writing by Firestone, and in full conformity with Firestone's current Design Standards and Construction Specifications for Public Improvements ("Standards and Specifications"), ordinances and regulations. B. Engineering and Consulting Services Owner agrees to furnish, at its expense, all necessary engineering and consulting services relating to the design and construction of the Development, including but not limited to, street, alleys, curb, gutter, sidewalks, landscaping, irrigation, fencing, street lights, signage, water, waste water, storm sewer and drainage improvements, trails and park improvements. Said engineering and consulting services shall conform to the standards and criteria for Public Improvements as established and accepted by Firestone. These services shall be performed by or under the supervision of a Registered Professional Engineer and/or Registered Land Surveyor, or other professionals as appropriate, licensed by the State of Colorado, and in accordance with applicable Colorado law. The design services shall include inspection services deemed necessary by Firestone. C. Plan Submission and Acceptance Owner shall furnish to the Town Administrative Official the required fees and complete plans for all improvements and development phases. Firestone shall issue its written acceptance or rejection of said plans as expeditiously as reasonably possible. Said acceptance or rejection shall be based upon the standards and criteria for Public Improvements as established by Firestone, and Firestone shall notify Owner of all deficiencies which must be corrected prior to acceptance. All deficiencies shall be corrected and said plans shall be resubmitted to and accepted by Firestone prior to 2 construction. All acceptances required hereunder from Firestone shall be made by the Town Administrative Official, D. Public Improvement Permits ("PIP") Before the construction or installation of any improvements, Owner shall obtain a PIP from Firestone as provided in the Code. The PIP application, fees, plans, specifications and any other data filed by Owner will be reviewed by Firestone. If found to be complete and in accordance with Firestone's current Standards and Specifications and other pertinent requirements, Firestone will issue Owner the PIP. Owner shall reimburse Firestone for any additional expenses incurred by Firestone for the review of plans or inspection of construction work by consultants engaged by Firestone for that purpose. The Developer shall also apply and pay for a PIP for all common facilities. E. Licensing of Contractors and/or Subcontractors Owner shall ensure that all Contractors and subcontractors employed by the Owner shall be licensed by the Town before any work on the Improvements is commenced. F. Testing and Inspection Testing and inspection of the construction and materials shall be in accordance with Firestone's current Standards and Specifications. In addition, Owner shall employ, at its own expense, a licensed and registered testing company, to perform all testing of materials or construction that may be required by Firestone. Owner shall furnish copies of test results to the Town Administrative Official on a timely basis for review and acceptance prior to commencement or continuation of that particular phase of construction. At all times during said construction, Firestone shall have access to inspect the materials and workmanship of said construction and all materials and work not conforming to the accepted plans and specifications shall be repaired or removed and replaced at Owner's expense so as to conform to the accepted plans and specifications. All work shown on the accepted plans requires inspection by the Engineering Division. Except Town of Firestone holidays, inspection services are provided Monday through Friday, from 8:00 a.m. to 4:00 p.m. During the hours listed above, inspections shall be scheduled a minimum of 24 hours in advance with the Engineering Division. Requests for inspection services beyond the hours listed above shall be submitted a minimum of 48 hours in advance in writing to the Town Engineer for acceptance. Owner shall reimburse the Town for all direct costs of the after-hours inspection services. If the request is denied, the work shall not proceed before or after the hours listed above. Common Facilities shall have inspections performed by a professional consulting service acceptable to Firestone. At all times Firestone shall have access to inspect the materials and workmanship of the Common Facilities if deemed necessary by Firestone. Inspection services for landscaping will also include the selection and tagging of plant materials prior to delivery to the site. Landscape and irrigation inspection services shall conform to the Firestone's current Standards and Specifications or Development Code. G. Rights -of --way, Easements and Permits Prior to commencement of construction of Public Improvements that require additional rights -of -way to be acquired, Owner shall acquire at its own expense and convey to Firestone, all necessary land, rights -of -way and easements required by Firestone for the construction of the proposed improvements related to the Development. Owner is only obligated to acquire that portion of land, rights -of --way and easements necessary for the construction of Public Improvements, roads and utilities required by this Agreement. All such conveyances shall be free and clear of liens, taxes and encumbrances and shall be by Special Warranty Deed or easement in a form and substance acceptable to Firestone. All title documents shall be recorded by Firestone at Owner's expense. Owner shall also furnish, at its own expense, an ALTA title insurance policy for all interest(s) so conveyed, subject to acceptance by Firestone. Owner shall be responsible for obtaining the following to the extent applicable: 1. All permits as required by the United States Corps of Engineers. 2. Colorado Department of Health and Environment ("CDPHE") "General Permit for Stormwater Discharges Associated with Constriction Activity", required during construction. 3. Town of Firestone "Stormwater Quality Permit" per Firestone's current Standards and Specifications. 4. Air Quality Permit. H. Street Improvements Owner shall furnish and install, at its own expense, the street improvements in conformance with the drawings, plans and specifications accepted by Firestone and in accordance with the PIP. I. Sidewalk Improvements Owner shall furnish and install, at its own expense, all sidewalk improvements in conformance with the drawings, plans and specifications accepted by Firestone. J. Street Signs, Traffic Signs, and Striping Owner will furnish and install at Owners expense street name signs, striping, stop signs, speed limit and other signs on all streets, in accordance with the Manual of Uniform Traffic Control Devices, as from time to time amended, and other applicable legal requirements. K. Street Lights Owner shall furnish complete plans for street lighting to be reviewed and accepted by Firestone. The total cost of street light installation shall be Owner's obligation. Owner shall cause, at its own expense, United Power to install all required street lighting pursuant to 0 United Power plans and specifications as submitted to and accepted in writing by the Town Administrative Official. Said street lights shall be installed concurrently with the streets on which they are located. The type of street lights shall be accepted by Firestone. Street lights shall be operational before the streets are open to the public. Owner shall be responsible for payment of all utility billing for street lights prior to Final Acceptance, L. Water Improvements Owner shall furnish and install all water mains, lines, and appurtenances in conformance with the drawings, plans and specifications accepted by Firestone. M. Wastewater Improvements Owner shall furnish and install all sewer lines and appurtenances in conformance with the drawings, plans and specifications approved by the St. Wain Sanitation District. N. Drainage Improvements 1. Drainage improvements for the Development shall be constructed by Owner in accordance with drawings, plans and specifications accepted by Firestone. Unless otherwise approved by Town, over lot grading shall not be initiated by Owner until Firestone approves drainage improvement plans by the issuance of the PIP. Owner shall provide temporary erosion control during and after over lot grading until the site is stabilized. 2. Drainage improvements for the Development shall be constructed by the Owner in accordance with accepted construction plans. 3. Owner shall be responsible for obtaining a CDPHE "General Permit for Stormwater Discharges Associated with Construction Activity" required during construction. A copy of this permit shall be submitted to Firestone. 4. Owner agrees that all construction shall be in conformance with any and all National Pollutant Discharge Elimination Systems (NPDES) standards including compliance with and applicable NPDES and CDPHE permits issued to the Owner, applicable to the Development. The Owner further agrees that in the event there is any violation of such standards or permits issued, if the Town, as a result of the Owner's actions, is subject to or is given a monetary fine, penalty or any type of obligation is imposed; such circumstance will constitute a default under the terms of this Agreement. Failure of the Owner to cure the default by reimbursement to the Town, upon notice to cure as required by Section X.0 herein, shall result in a default of this Agreement. 5. Owner shall be responsible for obtaining a Town of Firestone "Stormwater Quality Permit" per Firestone's current Standards and Specifications. 6. All drainage improvements not located on Town owned property shall be 5 maintained by the Owner, Denmore Metro District, maintenance district, or final property owner (the "Obligated Entity"). Drainage improvements may include, but are not limited to: landscaping, open areas, grass, shrubs, trees, retaining walls, sidewalks, ponds, pipes, underdrains, swales, drain pans, and inlet and outlet structures. 7. Owner shall include the Obligated Entity in the final inspection procedures for the drainage improvements and shall provide Firestone with the Obligated Entity's written acceptance of the maintenance responsibility for the drainage improvements prior to Final Acceptance, O. Landscape Improvements For public lands, common facilities, and rights -of -way, Owner shall furnish Firestone complete final landscape and irrigation plans for each phase and obtain acceptance by Firestone prior to commencement of construction. Owner shall construct landscape improvements as required in the landscape plan before the constructed improvements are accepted by Firestone. Landscape plans need not be provided for private landscaping on single-family residential lots. For all development and Common Facilities other than single-family detached development, Owner shall furnish final landscape and irrigation plans to the Town Administrative Official for acceptance prior to installation of landscape improvements. P. Utility Coordination and Installation Owner shall be responsible for coordmaUon of and payment for installation of on -site and off -site electric, street lights, natural gas, telephone, cable television and other such utilities. All new and existing utilities shall be placed underground as required by the Firestone Municipal Code ("Code") prior to the issuance of any building permit for the Development. Necessary aboveground appurtenances (meters, transformers, etc.) shall be carefully located with maximum aesthetic considerations, and outside of any sight triangles. Any aboveground appurtenances that will be visible from the public rights -of - way shall be screened from view. Screening shall consist of landscaping and/or, low fencing shall be installed in accordance with the Firestone Development Code. Specifics of the screening requirements shall be reviewed with the Landscape Plans and as amended once utilities are installed. Q. Underdrains The Owner may choose to install foundation underdrains and a site wide underdrain collection system under the sanitary sewer system. The Town grants the use of Town owned right-of-way for these facilities but the Town assumes no maintenance responsibility for the facilities. These underdrain systems shall be maintained by the Obligated Entity. The Owner shall install a curb underdrain system pursuant to the Standards and Specifications and as shown on the Town accepted construction plans. This system shall be maintained by the Town. V. R. Maintenance Definition Maintenance is the process of preserving capital improvements, structures, development, or systems to meet its function or original intent of the facility. This is the preservation, conservation, keeping in good conditions, operating safely, operating efficiently, testing, inspection, servicing, repairing, grading, cleaning, picking up trash and debris, pest control, painting, mowing, pruning, and prolonging of these facilities. Maintenance also includes the provision of financial support to maintain the facilities. Facilities include but are not limited to: landscaping, open areas, grass, shrubs, trees, playgrounds, site furniture and fixtures, retaining walls, signs, sidewalks, drainage structures such as ponds, swales, drain pans, inlets, and outlet structures. Maintenance may involve many different number and types of companies, services, individuals to look after the facility and the ability to coordinate these efforts. Maintenance includes both routinely scheduled activities, as well as non -routine repairs that may be required. A maintenance plan should be prepared and submitted as part of the development review/approval process and be provided to the Obligated Entity responsible for maintenance activities. IMPROVEMENT ACCEPTANCE A. Initial Acceptance No later than ten (10) days after Public Improvements and/or Common Facilities are substantially complete, Owner shall request of the Town Administrative Official an inspection by Firestone. If Owner does not request this inspection within ten (10) days of completion of the Public Improvements and/or Common Facilities, Firestone may conduct the inspection without the approval of Owner. Owner shall provide Firestone with complete "as -built" drawings in a form as defined in Firestone's current Standards and Specifications. If Owner has not completed appropriate Public Improvements and/or Common Facilities as provided for in this Agreement, Firestone may exercise its right to secure performance as provided in Section X.0 of this Agreement. If Public Improvements and/or Common Facilities completed by Owner are satisfactory, the Town Administrative Official shall grant "Initial Acceptance," which shall be subject to "Final Acceptance" as set forth herein. If Public Improvements and/or Common Facilities are not satisfactory, the Town Administrative Official shall provide written notice to Owner of the repairs, replacements, construction or other work required to receive Initial Acceptance. Owner shall complete all needed repairs, replacements, construction or other work within thirty (30) days of said notice, weather permitting. After Owner completes the repairs, replacements, construction or other work required, Owner shall request of the Town Administrative Official a re -inspection of such work to determine if Initial Acceptance can be granted, and Firestone shall provide written notice to Owner of the acceptability or unacceptability of such work prior to proceeding to complete any such work at Owner's expense. If Owner does not complete the repairs, replacements, or other work required 7 within thirty (30) days of said notice, Firestone may exercise its rights to secure performance as provided in Section X.C. of this Agreement. Firestone reserves the right to schedule re -inspections. No "Certificate of Occupancy" will be issued by Firestone prior to Initial Acceptance without written approval from the Town Administrative Official. Additionally, for Common Faces, the Owner shall include the Obligated Entity in the final inspection procedures and provide Firestone with written acceptance of the Common Facilities for maintenance from this final Obligated Entity, B. Maintenance of Improvements 1. Warranty Owner shall provide Firestone with a warranty starting from the date of Initial Acceptance until the date of Final Acceptance. This warranty period shall be for a minimum of two (2) years or until eighty percent (80%) of the building permits have been issued for the phase, whichever occurs later, on all Public Improvements and shall provide a two (2) year Warranty to the Obligated Entity for the Common Facilities, 2. Maintenance of Improvements For the entire Warranty period, Owner shall, at its own expense, take all actions necessary to maintain said Public Improvements and make all needed repairs or replacements which, in the reasonable opinion of Firestone, shall become necessary, except that Firestone shall be responsible for snow removal on public streets. If within thirty (30) days after Owner's receipt of written notice from Firestone requesting such repairs or replacements, Owner has not completed such repairs, Firestone may exercise its rights to secure performance as provided in Section X.0 of this Agreement. In the event that said repair is solely determined by the Town to be an emergency, the Town may immediately complete said repairs and invoice the Owner the Town's actual costs. The owner shall reimburse the Town within sixty (60) days after receipt of written notification or repair and supporting documentation from the Town Administrative Official. No acceptances shall be issued until Owner has made full payment for said repairs. C. Final Acceptance At least thirty (30) days before the War-�•anty period elapses from the issuance of Initial Acceptance, or as soon thereafter as weather permits, Owner shall request a Final Acceptance inspection in writing. The request shall be made to the Town Administrative Official. The Town Administrative Official shall inspect the Public Improvements and shall notify Owner in writing of all deficiencies and necessary repairs. After Owner has corrected all deficiencies and made all necessary repairs identified in said written notice, the Town Administrative Official shall issue to Owner a letter of Final Acceptance, as soon as reasonably possible thereafter. If Owner does not correct all deficiencies and make repairs identified in said inspection to Firestone's satisfaction within thirty (30) days after receipt of said notice, weather permitting, Firestone may exercise its rights to secure performance as is provided in Section X.0 of this Agreement. If any mechanic's liens have been filed with respect to the Public Improvements, Firestone may retain all or a portion of the Improvement Guarantee up to the amount of such liens. If Owner fails to have Public Improvements finally accepted within two (2) years of the date of the issuance of Initial Acceptance or any Public Improvements are found not to conform to this Agreement, and Firestone's current Standards and Specifications, then the Owner shall be in default of the Agreement and Firestone may exercise its rights under Section X.0 of this Agreement. D. Reimbursement to Firestone In the event it becomes necessary for Firestone to complete the Public Improvements and/or Common Facility improvements due to the failure of Owner to complete said Public Improvements and/or Common Facility improvements, Firestone may complete construction, repairs, replacements, or other work with funds other than the Improvement Guarantee, in which event Owner shall reimburse Firestone within sixty (60) days after receipt of written demand and supporting documentation from the Town Administrative Official. If Owner fails to so reimburse Firestone, then Owner shall be in default of this Agreement and Firestone may exercise its rights under Section X.0 of this Agreement. VI. IMPROVEMENT GUARANTEE A. Public Improvement and Common Facilities Schedule Owner has submitted the certified Public Improvement and Common Facilities Schedule shown as "Exhibit B" attached hereto and incorporated herein by reference. Said exhibit generally identifies those Public Improvements to be furnished, installed or constructed relative to the Development. Omission of any improvement from "Exhibit B" does not relieve Owner from responsibility for furnishing, installing or constructing such improvement. The Owner shall list all Common Facilities separately and subtotal separately on "Exhibit B." B. Improvement Guarantee Owner shall submit to the Town Administrative Official an Improvement Guarantee for all Public Improvements for the Final Plat prior to recordation of this agreement. Said guarantee may be in cash or a letter of credit in form and substance. 1. Said Improvement Guarantee shall include, but not be limited to, street, curb, gutter, sidewalks, landscaping, fencing, street lights, water, sewer, storm sewer and drainage improvements, trails and park improvements on or off the Development. 2. The total amount of the guarantee for the Development shall be calculated as a percentage of the total estimated cost including labor and materials of all Public Improvements to be constructed in the Development as described on "Exhibit B." The total minimum amounts are as follows: a) Prior to commencement of construction of Public Improvements and Common Facilities improvements: 115% of the amount(s) shown on "Exhibit B." b) Upon Initial Acceptance of the Public Improvements in each phase through Final Acceptance: 25% of the amount(s) shown on "Exhibit B." The guarantees may be reduced on a phased basis as shown on "Exhibit D." c) Upon Initial Acceptance of Common Facilities: 0%. d) After Final Acceptance of Public Improvements: 0%. The guarantees may be released on a phased basis as shown on "Exhibit D." 3. In addition to any other remedies it may have, Firestone may, at any time prior to Final Acceptance, draw on any letter of credit or Improvement Guarantee received pursuant to this Agreement. In the event that, a) the Owner fails to extend or replace the letter of credit at least sixty (60) days prior to expiration of such letter of credit, b) the letter of credit is set to expire, c) Firestone receives notice that the letter of credit will not be renewed, d) the entity issuing the letter of credit becomes non. qualifying, or e) the letter of credit, in the sole determination of Firestone, is at risk of being lost as a guarantee, then, in any of these events, the Owner shall be in default of this Agreement and Firestone may immediately draw on the letter of credit for the full amount of the letter of credit. In such event as identified herein, no notice or prior notice shall be required prior to drawing on the letter of credit. The Town may hold the funds obtained from the letter of credit until the Public Improvements and Common Facilities as set forth on "Exhibit B" are completed and accepted by the Town. In the event the Public Improvements and Common Facilities are not completed by the Owner within the time period set forth in this Agreement or in the manner as required by this Agreement, the Town may, at its sole discretion, use any or all of the funds to complete some or all of the Public Improvements and Common Facilities. In any event, the Town shall have no obligation to complete any or all of the Public Improvements and Common Facilities. Owner is further subject to the provisions of Section X.0 of this Agreement, as well as the suspension of development activities by Firestone including, but not limited to, the withholding of building permits and certificates of occupancy. In the event that the cost of the Public Improvements and Common 10 Facilities and construction is reasonably determined by Firestone to be greater than the amount of the security guarantee provided by the Owner to the Town, then Firestone shall furnish written notice to Owner of the condition, and within thirty (30) days of receipt of such notice Owner shall provide Firestone with a substituted qualifying Improvement Guarantee, or augment the deficient security as necessary to bring the security into compliance. If Owner fails to provide Firestone with a substituted qualifying Improvement Guarantee, or augment the deficient security as necessary to bring the security into compliance, then Owner is in default of this Agreement, without further notice, and is subject to the provisions of Section X.0 of this Agreement, as well as the suspension of development activities by Firestone including, but not limited to, the withholding of building permits and certificates of occupancy. 4. If Firestone draws on the letter of credit to correct deficiencies or complete Public Improvements and Common Facilities, any portion of said guarantee not utilized in correcting the deficiencies and/or completing improvements shall be returned to Owner within thirty (30) days after Final Acceptance of said Public Improvements and Common Facilities. 5. Building Permit Restrictions Owner agrees that the execution of this Agreement, the Town's approval of construction plans, or the Town's issuance of any type of permit for construction of the Public Improvements does not in any way, constitute an approval of building permit allocations or building permits. a) Owner expressly understands and acknowledges that the expenditure of funds for the construction and installation of any Public Improvements prior to approval of building permit allocations or building permits is exclusively at the Owner's risk. The Town reserves the right, in exercise of its police power, to choose not to grant building permits, or otherwise restrict or condition the granting of building permits for the Development based on current or future resolutions or ordinances of the Town. Unless specifically restricted or conditioned by current or future resolutions or ordinances of the Town, building permits may be granted once all Public Improvements for the development or within each Phase of the development are operational as solely determined by the Town. b) Upon written request of the Owner, at the sole discretion of the Town, the Owner may begin construction of the Public Improvements without furnishing an Improvement Guarantee, as provided in this Agreement, upon the following conditions: i. The Owner has not transferred title to any portion of the 11 Development. ii. The Owner shall be required to obtain Initial Acceptance of all Public Improvements for the development or within each Phase of the development prior to the issuance of a building permit. After the Owner begins construction of the Public Improvements, if the Public Improvements remain unfinished for a period of one (1) year from the date this Agreement becomes effective, the Town shall require an Improvement Guarantee in accordance with this Agreement in lieu of the building permit restriction required by this Subsection. The Owner will have fifteen (15) days to provide the Town such an Improvement Guarantee, or the Town may issue a stop work order to remain in effect until the Improvement Guarantee is provided to the Town. The Town Administrative Official, at their sole discretion, may grant a single extension of up to one (1) additional year. iv. The Owner shall not transfer title to any portion of the Development prior to Initial Acceptance being granted by the Town or upon providing the Town an Improvement Guarantee in accordance with this Agreement. c) Upon the Town's Initial Acceptance of the Public Improvements, which shall include receipt of the Improvement Guarantee as outlined in Section VIA this building permit restriction shall be removed. VII. OVERSIZING AND REIMBURSEMENT Firestone may require Owner to build utility lines and other infrastructure large enough to serve property other than Owner's (oversizing). Firestone may also require Owner to construct or participate in the construction of certain off -site Public Improvements. Certain such improvements qualify for reimbursement pursuant to the policies of Firestone. A. Reimbursement due to Owner for Qualifying Public Improvements Constructed by Owner Owner is entitled to reimbursement for the oversize part of utilities and other infrastructure and/or a pro-rata portion of the cost of off -site Public Improvements. At the time of final approval of a subdivision plat or other development plans for properties that use these utilities or Public Improvements, Firestone will require as a condition of approval, a proportional reimbursement to Owner as described in "Exhibit Cattached hereto and incorporated herein by this reference. Nothing contained in this Agreement shall operate to create an obligation on the part of Firestone to pay or reimburse any costs to Owner in the event such costs are not recovered by Firestone as contemplated herein, for any reason, fiom the properties or property owners that use the utilities or Public Improvements, so 12 long as Firestone has made a good faith effort to recover such costs. B. Reimbursement due from Owner for Qualifying Public Improvements Constructed by Others Owner will be required to reimburse Firestone or others who have constructed oversized utilities and other infrastructure that will be utilized by Owner's property. The amount of the reimbursement due, if any, is described in "Exhibit C." VIII. MISCELLANEOUS CONSTRUCTION STANDARDS A. Trash, Debris, Mud Owner agrees that during construction of the Development and improvements described herein, Owner will take appropriate steps necessary to control trash, debris and wind or water erosion in the Development. If Firestone determines that said trash, debris or wind or water erosion causes substantial damage or injury or creates a nuisance, Owner agrees to abate said nuisance in accordance with Town Ordinances but no later than twenty-four (24) hours after notification of said nuisance. If Owner does not abate said nuisance, Firestone may abate the nuisance and/or correct any drainage or injury without notice to Owner, at Owner's expense. Owner also agrees to take any and all reasonable steps necessary to prevent the transfer of mud or debris from the construction site onto public rights -of -way and to immediately remove such mud and debris from public rights -of -way after notification by Firestone. If Owner does not abate, or if an emergency exists as solely determined by the Town, Firestone may abate at Owner's expense. Owner is further subject to the provisions of Section X.0 of this Agreement, as well as the suspension of development activities by Firestone including, but not limited to, the withholding of building permits and certificates of occupancy. B. Operation of Construction Equipment The operation of construction equipment outside an enclosed structure shall be prohibited on weekdays between the hours of 7:00 p.m. and 7:00 a.m. With the prior written approval of the Town Administrative Official, the operation of such equipment outside an enclosed structure may be permitted on weekend days and legal holidays between the hours of 8:00 a.m. and 4:00 p.m. The Town Administrative Official may alter the hours of operation for good cause. All construction activities shall operate in accordance with all Town codes, ordinances, and policies in regards to sound and noise. Failure to comply with this provision may result in the Owner to subjected to the provisions of Section X.0 of this Agreement, as well as the suspension of development activities by Firestone including, but not limited to, the withholding of building permits and certificates of occupancy. IX. SPECIAL PROVISIONS A. Denmore Filing 1 & 2 Public Improvements All phases of the public improvements in the Denmore Filing 1 & 2 accepted construction plans shall have received initial acceptance prior to the release of any building permits in this Development. 13 B. Transportation Owner shall construct the Frontier Streets improvements, as shown in the accepted Construction Plans. The Frontier Street improvements shall be operational prior to the issuance of any building permit. C. Phasing Map ("Exhibit D") The Development shall be constructed as outlined in "Exhibit D". All Public Improvements within each phase shall be installed and operational as solely determined by the Town prior to the Town issuing building permits. Each Phase shall have two points of access, a looped water system, and shall have the appropriate sanitary sewer substantially completed and operational, as determined by the Town, prior to the issuance of any building permit for that Phase. No building permits may be issued within any subsequent phase until Public Improvements in the previous phase are installed and operational as solely determined by the Town. D. Parks and Open Space Dedication Requirements 1. Pocket Park. Owner has satisfied the Pocket Park standard characteristics on Tract L, as shown on the accepted construction plans for Denmore, Filing 1. 2. Neighborhood Park. Owner shall satisfy the neighborhood park land dedication requirement of 1.001 acres for the Development ("Neighborhood Park Land Dedication") through: (a) payment of a cash fee -in -lieu of parkland dedication, in accordance with Section 16.7.3.13.7 of Title 16 of the Code, and in the amount set forth in Exhibit C ("Land Value Fee -in -Lieu"); (b) payment of the Neighborhood Park Construction Fee, in accordance with Section 16.7.3.13.8 of Title 16 of the Code, and in the amount set forth in Exhibit C; and (c) payment of the Neighborhood Park Water Rights Dedication Fee, in accordance with Section 16.7.3.B.8 of Title 16 of the Code, and in the amount set forth in Exhibit C. Owner shall pay the Land Value Fee -in -Lieu, the Neighborhood Park Construction Fee, and the Neighborhood Park Water Rights prior to recordation of the Final Plat. 3. Community Park. Owner shall satisfy the community park land dedication requirement for the Development through payment of a cash fee4n4ieu of parkland dedication, in accordance with Section 16.7.3.13.7 of Title 16 of the Code, and in the amount set forth in Exhibit C ("Community Park Land Value Fee -in -Lieu"). Owner shall pay the Community Park Land Value Fee -in -Lieu prior to recordation of the Final Plat, 4. Open Space. Owner has satisfied the Open Space dedication requirements through the dedication of Tract A, Denmore Filing No. 2 to the Town. E. Installation of Parks, Landscaping and Trails Owner shall design and construct Parlcs, Trails and Landscape on Tracts A through H as shown on the accepted construction plans. Owner shall purchase a water tap and pay necessary raw water dedication fees for Tracts A through H. 14 F. Maintenance of Parks, Trails, Open Space and Landscaping Tracts A through H shall be maintained by the Obligated Entity. G. Maintenance of Vacant Lots Owner shall be responsible for maintenance, including weed control, on all lots until such time the lots are sold to a homeowner. H. Fencing and Screening Fencing within the Development shall be installed in accordance with Title 16 of the Code. I. Utilities Owner shall provide the Town with all necessary permanent and temporary drainage and utility easements prior to construction. J. Water Dedication Based on information provided by the applicant on the accepted plans, the Town has determined that the amount of water to be dedicated to the Town, which is required as a condition of plat approval pursuant to Chapter 13.08.010 of the Firestone Municipal Code, to be ("Water Dedication"): Irrigation Demand: 5.45 Acre-feet Domestic Demand (multi -family): 13.54 Acre-feet Domestic Demand (single family): 4.81 Acre-feet Total Demand: 23.8 Acre-feet The Town acknowledges that Owner has fulfilled the Water Dedication for the Development through payment of cash pursuant to that certain Native Water Credit Purchase Agreement, as amended, entered into between the Town and Owner ('Purchase Agreement"), and that under the Purchase Agreement, Owner shall be deemed to have dedicated water rights in the amount of 238 acre-feet, less 123.55 acre-feet from Filing 1, 80.62 acre-feet from Filing 2, and 7.58 acre-feet from Filing 3, for the Development to the Town through such payment. Notwithstanding Owner's performance under the Purchase Agreement, the Town shall at all times have the right to require additional amounts of water to be dedicated if actual consumption exceeds the Water Dedication. If the Town determines that additional water must be dedicated, the then -current owner shall provide the water, in a form solely determined by the Town, within 30 days of written notice by the Town. The additional dedication shall be based on the Town's then -current water dedication policies. K. Disclosure Statements 1. The Metropolitan District Disclosure statement indicating the existence of a Title 32 Metropolitan District ("Exhibit F") shall be signed by the property owner purchasing a new home from a homebuilder with execution of the 15 sales contract for the property. 2. The Oil and Gas Well Disclosure is evidenced by the recordation of the existing Surface Use Agreements and various Letter Agreements with the Oil and Gas companies. A statement indicating the existence of such documents ("Exhibit G") shall be signed by the property owner with the execution of the sales contract for the property. A. Ground Water Dedication As provided by Firestone ordinances, all tributary and not non -tributary ground water rights not already transferred to Firestone shall be dedicated to Firestone at the time of Final Plat recordation. Transfer of the water rights shall be by Special Warranty Deed tendered to Firestone prior to signatures being affixed to this agreement. B. Default If Owner fails to fiilfill the terms and conditions of this Agreement, Firestone, in its sole discretion, may declare Owner in default and may call the security and draw on the letter of credit provided for in Section VI, and may hither exercise all remedies available to Firestone in law and equity. Firestone may also, withhold any additional building permits, certificates of occupancy, or provision of new utilities fixtures or services until the completion of the Public Improvements and Common Facilities and/or the default has been cured by Owner. Any costs incurred by Firestone, including, but not limited to, reasonable administrative costs and reasonable attorney's fees, in pursuit of any remedies due to the breach by Owner shall be paid by Owner. Firestone may deduct these costs from the Improvement Guarantee. Firestone shall have the right to enforce the Owner's obligations hereunder by an action for any equitable remedy, including injunction or specific performance, or an action to recover damages. No remedy or election hereunder shall be deemed exclusive but shall, whenever possible, be cumulative with all other remedies at law or in equity. If Owner fails to fulfill the terms and conditions of Section VI of this Agreement, or any other monetary, security or surety default, Firestone, in its sole discretion, may declare Owner in default and may immediately call the security due and draw on the letter of credit provided for in Section VI without notice to Owner, and may further exercise all remedies available to Firestone in law and equity and as provided for herein. C. Insurance and Safety Owner shall, through contract requirements and other normal means, guarantee and furnish to Firestone proof thereof that all employees and contractors engaged in the construction of improvements are covered by adequate Workman's Compensation Insurance and Public Liability Insurance, and shall require the faithful compliance with all provisions of the Federal Occupational Safety and Health Act (OSHA). 16 D. Indemnification and Release of Liability Owner agrees to indemnify and hold harmless Firestone, its officers, employees, agents, or servants, and to pay any and all judgments rendered against said persons on account of any suit, action, or claim caused by arising from, or on account of acts or omissions by Owner, its officers, employees, agents, consultants, contractors, and subcontractors, and/or suit, action, or claim resulting from mineral right disputes and/or Owner's failure to abide by the terms of this Agreement, and to pay to Firestone and said persons their reasonable expenses, including but not limited to, reasonable attorney's fees and reasonable expert witness fees, incurred in defending any such suit, action or claim. Owner's obligation herein shall not apply to the extent said suit, action or claim results from any acts or omissions of officers, employees, agents, or servants of Firestone or conformance with requirements imposed by Firestone, said obligation of Owner shall be limited to suits, actions, or claims based upon conduct prior to Final Acceptance by Firestone of the construction work. Owner acknowledges that Firestone's review and acceptance of plans for development of the Development is done in furtherance of the general public's health, safety and welfare and that no immunity is waived and no specific relationship with or duty of care to, Owner or third parties is assigned by such review acceptance. E. Recording Agreement Firestone shall record this Agreement at Owner's expense in the office of the Clerk and Recorder, County of Weld, State of Colorado, and Firestone shall retain the recorded Agreement. F. Binding Effect of Agreement This Agreement shall be binding upon and inure to the benefit of the parties, their successors in interest, or their legal representatives, including all developers, purchasers and subsequent owners of any lots or parcels within the Property, and shall constitute covenants running with the land. Owner shall not be released from its obligations hereunder until written notice to the Town Administrative Official of the assignment of said obligations to a successor, accompanied by written acceptance of such obligations by the successor, have been received by Firestone and consent to such assignment by Firestone as required by Paragraph X.H has been granted. This Agreement shall be recorded with the County Clerk & Recorder of Weld County, Colorado, at Owner's expense. Subject to the conditions precedent herein, this Agreement may be enforced in any court of competent jurisdiction. G. Assignment, Delegation and Notice Owner shall provide to the Town Administrative Official, for consent, written notice o£ 1) any proposed transfer of title to all or any portion of the Development, 2) arrangements for delegation or transfer of the Improvement obligations hereunder to any successor, and 3) successor's written acceptance of such Improvement obligations. Notwithstanding the forgoing, Owner may sell developed lots or all of the multi -family tracts without Firestone's consent, provided that the purchaser deposits with Firestone all guaranties, security and sureties required under this Agreement. Until the Town Administrative Official provides written consent to the assignment, Owner and Owner's successors and 17 assigns shall be jointly and severally liable for the assigned Improvement obligations. Firestone may withhold its consent in the event it reasonably determines that the Improvement obligations or any constituent element of this Agreement may not be fulfilled through assignment or that the benefit of Firestone's bargain under this Agreement may be materially and adversely impaired by such assignment. H. Modification and Waiver No modification of the terms of this Agreement shall be valid unless in writing and executed with the same formality as this Agreement, and no waiver of the breach of the provisions of any sections of this Agreement shall be construed as a waiver of any subsequent breach of the same section or any other sections which are contained herein. I. Addresses for Notice Any notice or communication required or permitted thereunder shall be given in writing and shall be personally delivered, or sent by United States mail, postage, prepaid, registered or certified mail, return receipt requested, addressed as follows: Firestone: Town of Firestone Town Manager 9950 Park Ave. Firestone, CO 80504 William P. Hayashi Hayashi & Macsalka, LLC 9035 Wadsworth Pkwy Suite 3500 Westminster, CO 80021 Owner: TPH Firestone Trail, LLC Tri Pointe Homes Holdings, Inc. a Delaware corporation its managing member 251 Little Falls Drive Wilmington, Delaware, 19808 Nicholas A. Dooher Davis & C%N anai, P.C. 1600 Stout St Suite 1710 Denver, CO 80202 With a copy to such other address or the attention of such other persons) as hereafter designated in writing by the applicable parties in conformance with this procedure. Notices shall be effective upon mailing or personal delivery in compliance with this paragraph. J. Force Majeure Whenever Owner is required to complete construction, maintenance, repair, or replacement of improvements by an agreed upon deadline, Firestone shall grant a reasonable extension of time if the performance cannot, as a practical matter, be completed in a timely manner due to Acts of God or other circumstances constituting force majeure or beyond the reasonable control of Owner. K. Approvals Whenever approval or acceptance of a matter is required or requested of Firestone pursuant 18 to any provisions of the Agreement, Firestone shall act reasonably in responding to such matter. L. Previous Agreements All previous written agreements between the parties, their successors, and assigns, including, but not limited to, any Annexation, Pre -Annexation Agreement, or Development Agreement shall remain in full force and effect and shall control this Development. If any prior agreements conflict with this Agreement, then this Agreement controls. M. Title and Authority Owner warrants to Firestone that it is the record owner for the property within the Development. The undersigned further warrant having full power and authority to enter into this Agreement. N. Severability If any part, section, subsection, sentence, clause or phrase of this Agreement is for any reason held to be invalid, such invalidity shall not affect the validity of the remaining sections of the Agreement. The parties hereby declare that they would have ratified this Agreement including each part, section, subsection, sentence, clause or phrase thereof, irrespective of the fact that one or more parts, sections, subsections, sentence, clauses or phrases be declared invalid. O. Legal Fees; Venue In the event that either party finds it necessary to retain an attorney in connection with a default by the other as to any of the provisions contained in this agreement, the defaulting party shall pay the other's reasonable attorney's fees and costs incurred in enforcing the provisions of this Agreement. For the resolution of any dispute arising hereunder, venue shall be in the Courts of the County of Weld, State of Colorado. P. Agreement Status After Final Acceptance Upon Final Acceptance by Firestone of all improvements and compliance by Owner with all terms and conditions of this Agreement, and provided that no litigation or claim is pending relating to this Agreement, this Agreement, with the exception of any maintenance and reimbursement obligations, shall terminate and no longer be in effect. Q. Enforceability This Agreement is made only between the Owner and Firestone, or their successors and assigns, and is not intended to benefit, and may not be enforced by, any third parties. [SIGNATURES ON FOLLOWING PAGE] 19 20 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first set forth above. TOWN OF FIRESTONE, COLORADO By: ATTEST: Gonzalez, Interim Town Clerk APPROVED AS TO FORM: William P. Hayashi, A. Jimenez, �...COeOQ-QO 21 OWNER: TPH Firestone Trail, LLC By: Name: Title: ACKNOWLEDGMENT STATE OF ) ss. COUNTY OF 1 The foregoing instrument was acknowledged before me this day of , 2023, by Tri Pointe Homes Holdings, Inc. a Delaware corporation its managing me m er y as of TPH Firestone Trail, LLC. Witness my hand and official seal. My commission expires: (SEAL) Notary Public 22 EXHIBITS LIST EXHIBIT A - DENMORE FILING 4 FINAL PLAT EXHIBIT B -PUBLIC IMPROVEMENT SCHEDULE EXHIBIT C -PUBLIC IMPROVEMENT REIMBURSEMENT SCHEDULE EXHIBIT D -PHASING PLAN EXHIBIT E -LANDSCAPE MAINTENANCE MAP EXHIBIT F -METROPOLITAN DISTRICT DISCLOSURE EXHIBIT G -OIL &GAS DISCLOSURE 23 EXHIBIT DENMORE ng 4 Final Plat 24 EXHIBIT B Public Improvement Schedule 25 EXHIBIT C Public Improvement Reimbursement and Fee In Lieu Schedule Fee In Lieu due Firestone: Neiphborhood Parlc: Land Value Fee -in -lieu: Park Construction Fee: $46,449.71 $340,6WN Park Water Rights Fee: $142,744.92 Total: $5295874.92 2. Communi . Park: Land Value Fee -in -lieu: $77,416.19 EXHIBIT D Phasing Plan 27 EXHIBIT E Landscape Maintenance Map EXHIBIT F Metropolitan District Disclosure The undersigned, being the purchasers identified in that certain ("Purchase Contract") dated AM as , seller, 20 between and the undersigned, as purchaser, with respect to Block ,Lot , (name of subdivision) , Town of Firestone, County of Weld, State of Colorado (the "Lot") do hereby acknowledge and agree as follows, which acknowledgments and agreements are given in consideration of and as a condition to Seller's agreement to sell to the undersigned the Lot and the home to be constructed thereon: Purchaser acknowledges that the Lot being purchased is within the boundaries of the Denmore Metropolitan District, a special taxing district (the "District"). The District has issued or expects to issue general obligation bonds that are paid by revenues produced from annual ad valorem property tax levies imposed on all of the taxable real and personal property within the District. The Purchaser has been advised and hereby acknowledges that it has been advised that financing plans of the District are available and detail the proposed or existing ad valorem property tax mill levies of the District servicing such indebtedness, and the potential for an increase in such mill levies. Purchaser acknowledges that the additional ad valorem property tax mill levies imposed by the District are in addition to other ad valorem taxes imposed by other taxing entities against said Lot. The following examples compare the tax impacts between a property within the boundaries of a District levying an annual ad valorem property tax mill levy of 50 mills, and a property not within the boundaries of a District. This example is based on a single-family residence on a property with an Actual Value (as determined by the County Assessor) of $300,000. PROPERTY WITHIN DISTRICT TAXING AUTHORITY MILL LEVY TAX AMOUNT COUNTY 15.038 322.57 SCHOOL DISTRICT 58.385 1,252.36 TOWN 6.805 145.97 FIRE 16.247 348.50 LIBRARY 3.181 68.23 METROPOLITAN DISTRICT 63 1,351.35 WATER (NCW) 1 21.45 WATER (ST. VRAIN LH) 1.406 30.16 SANITATION 0.373 8.00 TOTAL 165.435 3,548.59 29 PROPERTY WITHOUT DISTRICT TAXING AUTHORITY MILL LEVY TAX AMOUNT COUNTY 15.038 322.57 SCHOOL DISTRICT 58.385 1,252.36 TOWN 6.805 145.97 FIRE 16.247 348.50 LIBRARY 3.181 268.23 WATER (NCW) 1 21.45 WATER (ST. VRAIN LH) 1.406 30.16 SANITATION 0.373 8.00 TOTAL 107 2,197.24 IN WITNESS WHEREOF, Disclosure this day of STATE OF COLORADO ) ss. COUNTY OF ) the undersigned has/have executed this Metropolitan District 20 Purchaser Purchaser The foregoing instrument was acknowledged before me this 20 , by WITNESS my hand and official seal. My commission expires: Notary Public 30 STATE OF COLORADO ) ss. COUNTY OF ) The foregoing instrument was acknowledged before me this day of WITNESS my hand and official seal. My commission Notary Public 31 EXHIBIT G OIL AND GAS DISCLOSURE The undersigned, being the purchasers) identified in that certain ("Purchase Contract") dated , 20 , between , a , as seller, and the undersigned, as purchaser, with respect to Block , Lot , DENMORE Filing 4, Town of Firestone, County of Weld, State of Colorado (the "Lot") do hereby acknowledge and agree as follows, which acknowledgements and agreements are given in consideration of and as a condition of Seller's agreement to sell the undersigned the Lot and the home to be constructed thereon: The undersigned hereby acknowledges the current existence of oil and gas wells and related well facilities (and the possibility of additional future wells and facilities) located within the real property encompassed by the DENMORE Filing 4 subdivision plat(s) ("Plat"). The locations of the current and possible future oil and gas wells and related well facilities are identified on the DENMORE Filing 4 Final Plat, as amended from time to time. In addition to the foregoing, other oil and gas interests affecting the property may exist which may or may not be recorded in the real property records. The oil and gas leases and other interests generally permit certain surface activity on the premises which activity may include drill sites, gathering pipelines, production sites and facilities, and access roads, all as further described in the oil and gas leases and other documents affecting the premises. The undersigned acknowledge that neither they nor Seller will own any interest in the oil and gas or mineral estate underlying the property comprising DENMORE Filing 4. There may be ongoing oil and gas operation and production of oil and gas within DENMORE Filing 4, including in the vicinity of the Lots, as well as the existence of pipeline easements and access routes across portions of DENMORE Filing 4. Additional oil and gas wells may be drilled, and oil and gas operations and production will likely take place within DENMORE Filing 4, including in the vicinity of the Lots, which oil and gas production will affect portions of the surface of the real property comprising DENMORE Filing 4. Heavy drilling equipment will be used in connection with the operation and drilling of oil and gas wells within DENMORE Filing 4 and in conjunction with any production obtained from successor wells. Such operations may be conducted on a 24 hour/seven days a week basis. Owners of real property within DENMORE Filing 4 will be bound by the terms and provisions of surface use agreements entered into between the surface owners or developer of the land and certain oil and gas owners and/or operators. These surface use agreements contain waivers, including a waiver of surface damage payments, a waiver of setback and waivers of other requirements contained in the Rules and Regulations of the Colorado Oil and Gas Conservation Commission, as well as a waiver of the right by an owner of any portion of the surface of the real property within DENMORE Filing 4 to object in any forum to the use by oil and gas companies of a portion of the surface of the real property within DENMORE Filing 4. The undersigned acknowledges and recognizes the existence of such oil and gas leases and other interests, and the surface activity associated with such oil and gas leases, and the undersigned, 32 to the extent it owns or becomes the owner of real property in DENMORE Filing 4, assume the risk of owning property near or adjacent to an oil and gas well operation. Such risks include, without limitation, injury or damage to person and/or property arising out of, or resulting from the drilling, operation and maintenance of an oil and gas well; noise associated with an oil and gas well operation; explosion and fire; leakage of oil and/or gas from drilling or production facilities; vehicles servicing the oil and gas site. IN WITNESS WHEREOF, the undersigned has/have executed this Oil and Gas Well disclosure the day of , 20 Purchaser Purchaser STATE OF COLORADO ) ss. COUNTY OF ) The foregoing instrument was acknowledged before me this day of 20, by Witness my hand and official seal. My Commission expires Notary Public STATE OF COLORADO ) ss. COUNTY OF ) The foregoing instrument was acknowledged before me this 20 , by Witness my hand and official seal. 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