HomeMy WebLinkAbout 19-10 Exhibit SADDLEBACK F3 SA UnrecordedASSIGNMENT OF SUBDIVISION AGREEMENT
SADDLEBACK FILING N00
THIS ASSIGNMENT OF SUBDIVISION AGREEMENT ("Assignment") is made and
entered into this�day of �2 - , 2019, by and between the TOWN OF FIRESTONE,
a Colorado municipal corporation ("Town" ), STERLING CORPORATION, a Colorado Corporation
("Sterling"), and MELODY HOMES, INC., a Delaware corporation ("Melody") with reference to
that certain SUBDIVISION AGREEMENT for SADDLEBACK FILING NO.3, which Agreement
was recorded October 22, 2018 at Reception No. 4440397 in the Office of the Weld County Clerk
and Recorder, (the "Agreement"),
WHEREAS, Sterling is under contract to sell to Melody all Lots and Tracts within
Saddleback Filing No. 3, excluding Tracts C, D, E, F and H, as legally described in Exhibit A
attached hereto; and
WHEREAS, Section 8.4 of the Agreement requires Sterling to provide to the Town for
approval written notice of any proposed transfer of all or any portion of Sterling's obligations under
the Agreement to any successor; as well as arrangements for the proposed transfer, assignment or
delegation of the improvement obligations of the Agreement, and
WHEREAS, Sterling has notified the Town it will assign to Melody, as a condition of the
sale of the Lots, all of its obligations under the Agreement, and Sterling has requested the Town
approve such assignment, and
WHEREAS, as required by Section 1.11 of the Agreement, Sterling has posted cash in the
amount %J $134145118.70 to guarantee completion of the improvements required by the Agreement.
NOW THEREFORE, inconsideration ofthe recitals, promises, covenants and undertakings
herein set forth, and other good and valuable consideration, which is hereby acknowledged and
receipted for, the Town, Sterling and Melody agree as follows:
1. The foregoing recitals are hereby confirmed and made a part of this Assignment.
2. Sterling hereby assigns, sets over and transfers to Melody all of Sterling's right, title
and interest in and to the Agreement• Melody hereby assumes and agrees to perform all of the terms
and covenants of the Agreement as Subdivider, as that term is defined in the Agreement.
3. The Town hereby approves the foregoing assignment in accordance with Section 8.4
of the Agreement; provided, however, that such approval does not relieve Sterling of any obligations
or liabilities accruing prior to the effective date as set forth in paragraph 5 of this Assignment,
4. Melody shall provide the Town an Improvement Guarantee in a form and in the
amount required by Section 111 of the Agreement. Such Improvement Guarantee shall be
maintained in accordance with and shall otherwise be subject to all terms and requirements of the
Agreement. Upon receipt of an Improvement Guarantee meeting the requirements of the Agreement,
the Town shall return to Sterling the Improvement Guarantee cash posted by it.
5. This Assignment shall become effective upon full execution by the parties hereto.
Upon this Assignment becoming effective, Sterling shall have no further obligations or liabilities
under the Agreement.
6. This Assignment may be executed in one or more counterparts, and when all
counterparts are so signed, the sum of them shall be considered the original and shall be deemed to
have been signed as one integrated document.
7. Except as set forth in this Assignment, the Agreement shall remain in full force and
effect in accordance with its terms.
IN WITNESS WHEREOF, the Town, Sterling and Melody have executed this Assignment
of Subdivision Agreement as of the day and year first above set forth.
Leah Vanarsdall, Town Clerk
TOWN OF FIRESTONE, COLORADO
2
STERLING CORPORATION,
a Colorado Corporation
Printed Name: 5 Vnk
Title:
ACKNOWLEDGMENT
STATE OF COLORADO
ss.
COUNTY
The foregoing instrument was acknowledged before me this _day of .p'ti wi ,
2019, by 4 .. f C� � � � .� � ; „ � ", `� , as i � t=` �. ° a : of Sterling Corporation,
Colorado corporation.
Witness my hand and official seal.
(SEAL)
Notary Public
3
o TWEEDY
c� I�I�aIslc
STATE OF COLORADO
NOTARY ID 34 IA37
!Y COM IS ION EXPIRES DECEMBER 5, Ml i
STATE OF COLORADO
COUNTY OF
The
MELODY HOMES, INC.,
a Delaware corporation
Printed Name: BOA/ /Yl u6.GENB0 ( ('
Title: ,�js tis� iyT V t �REs4GIr
ACKNOWLEDGMENT
Ss.
foregoing instrument was acknowledged before
20199 by KffA ( YL WCt as
Melody Hom s, Inc., a Delaware corporation.
Witness my hand and official seal.
My commission expires: 6 f ,
(SEAL)
LORI MARIE KROSKY
Notary Public — Stafe of Colorado
Notary ID 2014400oobb
My Commission Expires Feb 24, 2022
me this ( day of
")-�j /I lA Ca of
c�
Exhibit A
LEGAL DESCRIPTION
All o£
Lots 1-343 Block 1
Lots 1-21, Block 2
Lots 1-25, Block 3
Tracts A, B 1, B29 C, D, E, F, G, H, and J
As more particularly described on the Final Plat of Saddleback Filing No. 3, recorded in the
office of the Weld County Clerk and recorder on October 22, 2018 at Reception No, 4440395,
Town of Firestone, County of Weld, State of Colorado.
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