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HomeMy WebLinkAbout21- Annexation Agreement - University Crossing Apartments 2021Inter-officeOriginalto: CityofBozeman CityClerk PO Box 1230 Bozeman MT 549771-1230 2750988 Lk-caf!í¹tiá20Enfi¹Ñt42""**d2°°° lllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll UNIVERSITY CROSSING APARTMENTS 2021 ANNEXATION AGREEMENT THIS AGREEMENT made and enteredintothis (Ct day of RUGus ,2021, by and between the CITY OF BOZEMAN,a self-governingmunicipal corporationorganized and existingunder itsCharterand the laws of the Stateof Montana with officesat 121 N.Rouse Avenue, Bozeman,Montana 59771-0640,hereinafterreferredto as "City",and Steven R.Aaker,15658 Deer Mountain Circle,Broomfield CO,hereinafterreferredto as "Landowner". W I T N E S S E T H: WHEREAS,Landowner isowner in feeof a tractof certainrealproperty,hereinafterreferred to as the UNIVERSITY CROSSING APARTMENTS 2021 ANNEXATION situatedin Gallatin County,Montana,and more particularlydescribedas follows: An area of land comprised describedas follows: That partof Lot 2A,Minor SubdivisionNo.191-B,accordingto theplatthereof,on fileand of record in theofficeof the Clerk and Recorder,GallatinCounty,Montana,and locatedinthe SoutheastQuarterof Section 14,Township 2 South,Range 5 East of P.M.M.,GallatinCounty, Montana,describedas follows: Beginning atthe Southwest Corner of Lot 1A,Minor SubdivisionNo.503A;thence westerly 271°22'33",assumed azimuth from north,20.00 feeton thewesterlyextensionofthesouth line UNIVERSITY CROSSING APARTMENTS 2021 Annexation Agreement 1 of saidLot 1A;thence northerly000°37'20"azimuth 97.58 feet;thence northeasterly 036°21'41"azimuth 43.18 feet;thence northeasterly041°08'11"azimuth 38.65 feet;thence easterly079°1l'35"azimuth 13.96 feet;thence northeasterly028°55'08"azimuth 40.92 feet; thence northerly011°40'28"azimuth 88.79 feet;thence northerly008°52'58"azimuth 63.19 feet;thence northerly007°19'59"azimuth 85.74 feetto the centerlineof Kagy Boulevard; thence easterly091°23'42"azimuth 20.11 feetalong saidcenterline;thence on the following coursesalong the west lineof saidMinor SubdivisionNo.503A:southerly187°19'59"azimuth 222.03 feet;southwesterly208°55'08"azimuth 77.03 feet;southwesterly226°16'01"azimuth 79.96 feet;southerly180°37'20"azimuth 89.39 to the pointof beginning. Area =10,247 square feet Subjectto existingeasements. Allasdepictedon theUNIVERSITY CROSSING APARTMENTS 2021 Annexation Map. WHEREAS,the Landowner petitionedthe City forannexation to the City of saidtractof land; and WHEREAS,the UNIVERSITY CROSSING APARTMENTS 2021 ANNEXATION is not withinthe corporatelimitsof the City or othermunicipalityand may thereforebe annexed to the City in accordance with theprovisionsofthisAgreement and Title7,Chapter 2,Part46,Mont.Code Ann.;and WHEREAS,all parties recognize the annexation of the UNIVERSITY CROSSING APARTMENTS 2021 ANNEXATION pursuant to Section 7-2-4601,et seq.,Mont.Code Ann.will allow the UNIVERSITY CROSSING APARTMENTS 2021 ANNEXATION to connect to and utilize Cityservices,includingmunicipal water and sewer service,parks and recreation,fireand policeservices, and the City'stransportationsystem;and WHEREAS,Section 7-2-4610,Mont.Code Ann.provides thata municipalityand landowner can agree to theprovisionsof servicestothe areatobe annexed;and WHEREAS,the partiesrecognize additionaldevelopment on the UNIVERSITY CROSSING APARTMENTS 2021 ANNEXATION willimpact areaparks,recreation,transportation,police,and fire services,and thatfutureimprovements may requireadditionalpublicinfrastructurestreetimprovements UNIVERSITY CROSSING APARTMENTS 2021 Annexation Agreement 2 includingtransportationfor trafficcirculationand the provisionsof parks,recreation,police,and fire services;and WHEREAS,the Landowner fmds thisAgreement will provide for the most satisfactoryand dependable water supply and sewer supply or service,and provide transportation,parks,recreation, police and fireservice for development of the UNIVERSITY CROSSING APARTMENTS 2021 ANNEXATION;and WHEREAS,thepartieshave determined thatitisinthe bestinterestsofthe Cityand Landowner, and infurtheranceof thepublichealth,safetyand welfareof the community to enterintoand implement thisAgreement. W IT N E S S E T H: IN CONSIDERATION of the mutual covenants and agreements herein contained,the parties hereto agree asfollows: 1.Recitals The above recitalsaretrueand correct. 2.Annexation The Landowner filed an application for annexation of the UNIVERSITY CROSSING APARTMENTS 2021 ANNEXATION with theCityon April2,2021.By executionofthisAgreement, the City manifests its intent to annex the UNIVERSITY CROSSING APARTMENTS 2021 ANNEXATION tractpursuant totheterms and conditionsof thisAgreement.Subjecttothe provisions of Title7,Chapter 2,Part46,Mont.Code Ann.the City shall,upon executionof thisAgreement,adopt a Resolution of Annexation of the UNIVERSITY CROSSING APARTMENTS 2021 ANNEXATION. Further,upon the execution of thisAgreement,the Landowner shalldo allthings required by this Agreement and allthings necessary and proper to aid and assistthe City in carryingout the terms, UNIVERSITY CROSSING APARTMENTS 2021 Annexation Agreement 3 conditions and provisions of this Agreement and to effectthe annexation of the UNIVERSITY CROSSING APARTMENTS 2021 ANNEXATION. 3.ServicesProvided The City will,upon annexation,make available to the UNIVERSITY CROSSING APARTMENTS 2021 ANNEXATION existingCity servicesonly to the extentcurrentlyavailable,or as provided inthisAgreement. 4.Municipal Water Service Defined The term "municipal water service"as isused in thisagreement shallbe the servicewhich is suppliedby the City in accordance with Chapter 40,Article2,Bozeman Municipal Code,as amended, as well as any otherterms and conditionswhich apply tothe City'sprovisionof municipal water service but does not includethe extensionof linesorconstructionof necessary improvements at any costtothe City for delivery of water to and within the UNIVERSITY CROSSING APARTMENTS 2021 ANNEXATION.Nothing inthisAgreement shallobligatethe Cityto pay forright-of-wayacquisition, engineering,construction,and other costsforthe deliveryof water to or within the UNIVERSITY CROSSING APARTMENTS 2021 ANNEXATION to include,but not limitedto,any impact fees, hook-up,connection,or development charges which have been or may be establishedby the City. 5.Municipal Sewer Service Defined The term "municipal sewer service"as isused in thisAgreement shallbe the servicewhich is suppliedby the City in accordance with Chapter 40,Article3,Bozeman Municipal Code,as amended, as well as any otherterms and conditionswhich apply to theCity'sprovisionofthisservicebut does not include the extension of linesor constructionof necessary improvements at any cost to the City for collection of sewage at and within the UNIVERSITY CROSSING APARTMENTS 2021 ANNEXATION.Nothing inthisAgreement shallobligatethe City topay forright-of-wayacquisition, UNIVERSITY CROSSING APARTMENTS 2021 Annexation Agreement 4 engineering,construction,and other costs for the collectionof sewage servicesto or within the UNIVERSITY CROSSING APARTMENTS 2021 ANNEXATION to include,but not limitedto,any impact fees,hookup,connection,or development chargeswhich may be establishedby the City. 6.Water Rights The Landowner specificallyrecognizesand agreestheLandowner must provide water rightsor cash in-lieuof water rightsupon furtherdevelopment or subdivisionof thepropertyin accordance with Section 38.410.130,Bozeman Municipal Code.The City willcalculatethe amount of water rightsor cash-in-lieuthereofdue atthe time of furtherdevelopment or subdivisionof the propertybased on the annual demand forvolume of water the development willrequiremultipliedby themost currentannual unitpriceineffecton the date the water rightsaretransferredor payment-in-lieuof water rightsistobe made to the City.As such,the Landowner acknowledges thatthe ratesfor cash in-lieuof water rights may increaseover time as establishedby Resolution of the City Commission.The applicantmust perform a water rightssearchto determine ifany existforthisproperty.The Landowner must transfer any water rightsthatexistforthispropertyto the Cityof Bozeman priorto development.Ifinsufficient water rightsexist,theLandowner must pay cash in lieuof water rights,in an amount determined by the Directorof Public Service,priortodevelopment. 7.Comprehensive Water and Water Design Report Priortofuturedevelopment ofthe propertythe Citymay requirethe Landowner tohave prepared by a ProfessionalEngineer,at Landowner's sole expense,a comprehensive design reportevaluating existingcapacityof sewer and water utilitiesinthe area.The reportmust includehydraulicevaluations of each utilityforboth existingand post-development demands,and thereportfindingsmust demonstrate adequate capacityto serve the fulldevelopment of the land.Ifadequate infrastructurecapacityisnot availableforthe proposed development,thereportmust identifynecessarywater or wastewater system UNIVERSITY CROSSING APARTMENTS 2021 Annexation Agreement 5 improvements necessary for the proposed development.Ifimprovements to thiswater or wastewater system are necessary,the Landowner agrees priorto development of the UNIVERSITY CROSSING APARTMENTS 2021 ANNEXATION to complete,at Landowner's expense,the necessary system improvements to servetheproposed development. 8.Future Development Limitations The Landowner shallbe responsibleforinstallingallfacilitiesrequiredtoprovide fullmunicipal servicestothepropertyinaccordance with theCity'sInfrastructureMaster Plansand allCityregulations, policiesand guidelinesthatmay be in effectat the time of any futuredevelopment.Thus,Landowner understands and agreesLandowner has no right,eithergrantedor implied,foritto furtherdevelop any of the UNIVERSITY CROSSING APARTMENTS 2021 ANNEXATION untilitisverifiedby the City thatthe necessarymunicipal services,includingbut not limitedtopoliceand fireprotection,parks and recreation,transportation,and sewer and water capacity,are availableto all or a portion of the UNIVERSITY CROSSING APARTMENTS 2021 ANNEXATION.Notice isthus provided to the Landowner that prior to additionaldevelopment of the property,the Landowner will be solely responsiblefor installing,at Landowner's sole expense,any facilitiesor infrastructurerequired to provide full municipal services to the UNIVERSITY CROSSING APARTMENTS 2021 ANNEXATION inaccordance with theCity'sinfrastructureplans,adopted Growth Policies/Community Plans,and allother city regulations,policiesand guidelinesthat may be in effectat the time of development. 9.Stormwater Master Plan Landowner understandsand agreesa Stormwater Master Plan fortheUNIVERSITY CROSSING APARTMENTS 2021 ANNEXATION fora system designed to remove solids,oils,grease,and other pollutantsfrom the runoff from public streetsand otherimpermeable surfacesmay be requiredto be UNIVERSITY CROSSING APARTMENTS 2021 Annexation Agreement 6 provided to and approved by the City Engineer at the time of any futuredevelopment.The plan must demonstrate thatadequate treatmentof runofffrom public streets,otherimpermeable surfaces,and all futurelotswill be achieved by providing spot elevations,flow directionarrows,detention and/or retentionbasin details(includingbasin sizingcalculationsand basin typicalsections),outletstructure details,and culvertcapacitycalculations.The plan must alsolocateand provideeasements foradequate drainage ways within the UNIVERSITY CROSSING APARTMENTS 2021 ANNEXATION to transporttreatedrunoffto the stormwater receivingchannel.The plan shallinclude sitegrading and elevationinformation,typicalstormwater detention/retentionbasinand dischargestructuredetails,basin sizingcalculations,and stormwater maintenance plan.Landowner recognizestheCitymay requiresuch Stormwater Master Plan to be implemented in allor partas a conditionof approval of development of theUNIVERSITY CROSSING APARTMENTS 2021 ANNEXATION. 10.Waiver of Right-to-ProtestSpecial Districts A.Landowner shallexecute a Waiver of Right-to-ProtestCreationof SpecialImprovement Districtsor Special Districtsfor streetand transportationimprovements including design and engineering,paving and subsurfaceimprovements,curb and gutter,sidewalk and stormwater drainage facilities,and fiberopticconduitforWest Kagy Boulevard,South 19thAvenue,and South 27*Avenue and signalizationimprovements forthe followingintersections:a)West Kagy Boulevard and South 19th Avenue,and West Kagy Boulevard and South 27*Avenue.The Landowner agreessuch SID or special districtswillprovide a mechanism forthe fairand equitableassessment ofconstructionand maintenance costsforsuch improvements.The waiver isattachedheretoas Exhibit"A"and ishereby incorporated in and made a partof thisAgreement. B.Landowner agrees thatin the event an SID isnot utilizedforthe completion of these improvements as described in subsectionA above,the Landowner shallparticipatein an alternative UNIVERSITY CROSSING APARTMENTS 2021 Annexation Agreement 7 fmancing method for the completion of said improvements on a fairshare,proportionatebasis as determined by the City on thebasisof the square footageof property,taxablevaluationoftheproperty, trafficcontributionfrom thedevelopment or a combination thereof. 11.Public Streetand UtilityEasements The Landowner understandsand agreesthata publicstreetand utilityeasement must be provided at the time Landowner returnsthe signed annexation agreement for a fifteen(15)footpublic street easement for expanding the southern side of Kagy Boulevard as depicted with the annexation application.The Landowner understand and agrees that a ten (10)foot utilitieseasement per 38.410.060.B,BMC must be provided atthe time Landowner returnsthe signed annexationagreement along the property'sfrontagewith Kagy Boulevard.The Landowner,atitssole expense,has created such easements ina locationand form agreeabletothe Cityand theeasements willbe filedattheGallatin County Clerk and Recorder's Office.The Landowner furtherunderstands and agreesthatadditional public streetand utilityeasements may be required for deliveryof municipal serviceswith future development and such easement shallbe provided atthe Landowner's soleexpense. 12.StreetImprovements The Landowner understands and agrees thatat the time of futuredevelopment the portion of Kagy Boulevard and itsrelatedtransportationinfrastructurefrontingthe UNIVERSITY CROSSING APARTMENTS 2021 ANNEXATION must be improved to a City standard. 13.Impact Fees Landowner acknowledges thatannexation and development of theirproperty will impact the City'sexistingstreet,water and sewer infrastructure,and the City'sfireservice.As approved by the City,the Landowner and itssuccessorsmust pay: A)Fireimpact feesequal tothe amount per Chpt.2,Art.6.Div.9 BMC,or as amended,at time of issuanceof a buildingpermit. UNIVERSITY CROSSING APARTMENTS 2021 Annexation Agreement 8 B)Transportationimpact feesequal to the amount per Chpt.2,Art.6.Div.9 BMC,or as amended,attime of issuanceof a buildingpermit. C)Water impact feesas requiredby Chpt.2,Art.6.Div.9 BMC,or as amended,atthetime of connection to citywater services. D)Sewer impact feesasrequiredby Chpt.2,Art.6.Div.9 BMC,or asamended,atthetime of connectionto citysewer services. The amount of impact feethe Landowner or itssuccessorspay forconnectiontothecity'swater and sewer services,ifany,shallbe calculatedbased on the provisionsof theBozeman Municipal Code, as amended,in effectat the time of applicationfor a permit to connect.The amount of streetor fire impact feesto be paid,ifany,shallbe calculatedbased on the provisionsof the Bozeman Municipal Code,as amended,ineffectatthe time an applicationforbuildingpermit issubmitted. Landowner furtherunderstands and agrees that any improvements,eitheron-siteor off-site, necessary to provide connection of the UNIVERSITY CROSSING APARTMENTS 2021 ANNEXATION municipal servicesand which are wholly attributableto the property as determined exclusivelyby the cityareconsidered"projectrelatedimprovements"as definedinChapter 2,Article6, Division 9,Bozeman Municipal Code,as amended,and as such,arenot eligibleforimpact fee credits. IfLandowner defaultson thisconditionatthe time such isto be performed,and should default not be remedied or correctedwithin thirty(30)days afterwrittennoticeby City tothe Landowner and Landowner/Developer of such default,City may atitsoption: A)Declaretheamounts owing forimpact feesimmediately due and payable and City shallhave therightand privilegeto take legalactionagainstLandowners forthe collectionof such sum,includingtheentryof any judgment.In addition,theCity may,atitsoption,enforcepayment of such amount by levyingan assessment on theproperty. B)Electany otherremedy availableto Cityunder thelaws of the StateofMontana. 14.Assessments Landowner understands and agreesthatafterthisAgreement isrecorded theUNIVERSITY CROSSING APARTMENTS 2021 ANNEXATION willbe subjectto City assessmentsforarterialand UNIVERSITY CROSSING APARTMENTS 2021 Annexation Agreement 9 collectorstreets,streetmaintenance,and treemaintenance on the same basisas allotherpropertiesin the City. 15.Payback Districts The UNIVERSITY CROSSING APARTMENTS 2021 ANNEXATION is within multiple infrastructurepayback districts.Landowner agreestopay thefollowingpaybacks atthetime Landowner returnsthe signed annexationagreement tothe City. a.Meadow Creek Subdivision trafficsignalpayback amount of $186.50 (One Hundred Eighty-Sixdollarsand Fiftycents). b.Meadow Creek Subdivision sewer improvements payback amount of $130.14 (One Hundred Thirtydollarsand Fourteen cents). 16.Additional Terms The partiesrecognizethesedocuments must be filedand ofrecordwith theGallatinCounty Clerk and Recorder priortothe saleof any land withintheUNIVERSITY CROSSING APARTMENTS 2021 ANNEXATION.The partiesfurtheragree thatthe Citymay filethesedocuments atany time. 17.Governing Law and Venue This agreement shallbe construedunder and governed by the laws of the stateof Montana.In the event of litigation,venue isinthe EighteenthJudicialDistrictCourt,in and for County of Gallatin, Stateof Montana. 18.Attorney's Fees In the event itbecomes necessary for eitherparty to thisAgreement to retainan attorneyto enforce any of the terms or conditionsof thisAgreement,then the prevailingpartyshallbe entitledto reasonableattorney'sfees and costs,to includethe salaryand costsof in-housecounsel includingCity Attorney. UNIVERSITY CROSSING APARTMENTS 2021 Annexation Agreement 10 19.Waiver No waiver by eitherpartyof any breach of any term,covenant or agreement shallbe deemed a waiver ofthe same or any subsequent breach of thissame or any otherterm,covenant or agreement.No covenant,term or agreement shallbe deemed waived by eitherpartyunlesswaived inwriting. 20.Invalid Provision The invalidityor unenforceabilityof any provisionof thisagreement shallnot affectthe other provisions hereof,and this Agreement shall be construed in all respects as if such invalid or unenforceableprovisionwere omitted. 21.Modifications or Alterations No modificationsor amendment of thisAgreement shallbe validunlessevidenced by a writing signedby the partieshereto. 22.No Assignment Itis expresslyagreed thatthe Landowner and/or Landowner/Developer shallnot assign this Agreement in whole or inpartwithoutpriorwrittenconsent ofthe City. 23.Successors This Agreement shallbe binding upon,inureto the benefitof and be enforceableby the parties heretoand theirrespectiveheirs,successorsand assignsand specificallytoany subsequentpurchaserof theannexed property. 24.Covenants to Run with the Land The partiesintendthatthe terms of thisAgreement shallbenefittheUNIVERSITY CROSSING APARTMENTS 2021 ANNEXATION and shallbe covenantsrunning with the land and shallnot expire attheirdeathsor upon transferof ownership of theproperty. UNIVERSITY CROSSING APARTMENTS 2021 Annexation Agreement 11 The undersigned Landowner affirmsthatthey have authorityto enterintothisAgreement and to bind themselves tothisAgreement. IN WITNESS WHEREOF,thepartiesheretohave caused thisagreement tobe executed the day and year firstabove written. LANDOWNER STEVEN R.AAKER STATE OF COLORADO ) :ss COUNTY OF BROOMFIELD ) On this day of ,2021,beforeme,the undersigned,a Notary Public forthe Stateof Colorado,person¼llyappeared Steven R.Aaker known tome tobe thelandowner thatexecutedthewithininstrument,and acknowledged tome thathe executedthe same forand on behalf of landowner. IN WITNESS WHEREOF,I have hereunto setmy hand and affixedmy officialsealthe day and year firstabove written. (SEAL) CATHERINE5FELTMAN NOTARYPUBLIC-STATEOFCOLORADO NOTARYID20164047704 (PrintedName Here)h¼6 Mh MYCOMMIS510NEXPIRESDEC19,2024 Notary Public,forthe Stateof (tdo Residing at ¼£15Ü CAav4ee<2 My Commission Expires:044sulet IC4,7-oh (Use 4 digitsforexpirationyear) UNIVERSITY CROSSING APARTMENTS 2021 Annexation Agreement 12 CITY OF BOZEMAN .Mihelich,City Manager ATTEST: Mike Maas,City Clerk STATE OF MONTANA ) :ss COUNTY OF GALLATIN ) On this day of }1Ú)t),2021,beforeme,a Notary Public forthe stateof Montana,personallyapp ared JeffMihelich and Mike Maas,known to me tothepersons describedinand who executed the foregoinginstrumentas City Manager and City Clerk respectively, of the City of Bozeman,whose names are subscribedto thewithin instrumentand acknowledged to me thatthey executed the same forand on behalfof saidCity. IN WITNESS WHEREOF,Ihave hereunto setmy hand and affixedmy officialsealthe day and year firstabove written. IMEATHER BIENVENUE fortheStateo ontana . esidingat:(rintedName Here)SEAL Bozeman,Montana Notary Public forthe Stateof Montana 2 72 Residing at My Commission Expires: (Use 4 digitsforexpirationyear) UNIVERSITY CROSSING APARTMENTS 2021 Annexation Agreement 13 EXHIBIT "A" WAIVER OF RIGHT TO PROTEST CREATION OF SPECIAL IMPROVEMENT DISTRICTS UNIVERSITY CROSSING APARTMENTS 2021 ANNEXATION The undersigned owner of the realpropertysituatedinthe County of Gallatin,Stateof Montana, and more particularlydescribedas follows: That partof Lot 2A,Minor SubdivisionNo.191-B,accordingto theplatthereof,on fileand of record in theofficeof the Clerk and Recorder,GallatinCounty,Montana,and locatedinthe SoutheastQuarter of Section 14,Township 2 South,Range 5 East of P.M.M.,GallatinCounty, Montana,describedas follows: Beginning atthe Southwest Corner of Lot 1A,Minor SubdivisionNo.503A;thence westerly 271°22'33",assumed azimuth from north,20.00 feeton the westerlyextensionof the south line of saidLot lA;thencenortherly000°37'20"azimuth 97.58 feet;thence northeasterly 036°21'41"azimuth 43.18 feet;thence northeasterly041°08'11"azimuth 38.65 feet;thence easterly079°11'35"azimuth 13.96 feet;thence northeasterly028°55'08"azimuth 40.92 feet; thence northerly011°40'28"azimuth 88.79 feet;thence northerly008°52'58"azimuth 63.19 feet;thence northerly007°19'59"azimuth 85.74 feettothecenterlineof Kagy Boulevard; thence easterly091°23'42"azimuth 20.11 feetalong saidcenterline;thence on the following coursesalong thewest lineof saidMinor SubdivisionNo.503A:southerly187°19'59"azimuth 222.03 feet;southwesterly208°55'08"azimuth 77.03 feet;southwesterly226°16'01"azimuth 79.96 feet;southerly180°37'20"azimuth 89.39 to the pointofbeginning. Area =10,247 squarefeet Subjectto existingeasements. IN CONSIDERATION of receivingapproval for annexation of the subjectproperty from the City of Bozeman,along with accompanying rights and privilegesand for other and valuable consideration,the receiptof which ishereby acknowledged,and in recognitionof the impacts to West Kagy Boulevard,South 19thAvenue,and South 27thAvenue,and the intersectionsof West Kagy Boulevard and South 19thAvenue and West Kagy Boulevard and South 27thAvenue which willbe caused by the development of the above-described property,the owner has waived and does hereby waive foritself,itssuccessorsand assignsforevertherightto protestthe creationof one or more special improvement districtsfor the design and engineering,constructionand maintenance of following improvements:lighting,paving and subgrade material,fiberoptic conduit,curb/gutter,sidewalk, UNIVERSITY CROSSING APARTMENTS 2021 Annexation Agreement 14 and storm drainage facilitiesforWest Kagy Boulevard,South 19thAvenue,and South 27thAvenue- and intersectionimprovements for the intersectionsof West Kagy Boulevard and South 19th Avenue and West Kagy Boulevard and South 27thAvenue. Landowner agrees the City has the sole rightto controlthe design and constructionof such improvements and may include any of the above components and others necessary to ensure such improvements comply with all adopted City infrastructureplans and requirements.Further,the Landowner waives itsrightor to make any writtenprotestagainstthe sizeor area or creationof the districtbe assessed in response to a duly passed resolutionof intentionto createone or more special improvement districtswhich would includethe above-describedproperty. In the eventa SID isnot utilizedforthe completion oftheseimprovements,thedeveloper agrees toparticipateinan alternatefinancingmethod forthecompletion of saidimprovements on a fairshare, proportionatebasisas determined by the City on the basisof the square footage of property,taxable valuationoftheproperty,trafficcontributionfrom the development or a combination thereof. This waiver ismade forthebenefitofthepropertydescribedhereinshallbe a covenant running with the land. The terms,covenants and provisionsof thiswaiver shallextend to,and be binding upon the successors-in-interestand assignsof the Landowner. UNIVERSITY CROSSING APARTMENTS 2021 Annexation Agreement 15 DATED this day of §00 ©,2021. LANDOWNER Steven R.Aaker STATE OF COLORADO ) :ss COUNTY OF BROOMFIELD) On this day of ,2021,beforeme,theundersigned,a Notary Public forthe Stateof Colorado,personallyappeared Steven R.Aaker known to me tobe thelandowner that executed the within instrument,and acknowledged to me thathe executed the same forand on behalf of landowner. IN WITNESS WHEREOF,I have hereunto setmy hand and affixedmy officialsealthe day and year firstabove written. (SEAL) CATHERINESFELTMAN (PrintedName Here)(.hdbhk NOTAWN 20 6 4770 Notary Public forthe Stateof ctdD MYCOMMISSIONEXPlRESDEC19,2024 Residing at L&A W UL du My Commission Expires:(lWW ICIO.02>{ (Use 4 digitsforexpirationyear) UNIVERSITY CROSSING APARTMENTS 2021 Annexation Agreement 16