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ti% <br />IMPROVEMENTS AGREEMENT ACCORDING TO <br />POLICY REGARDING COLLATERAL FOR IMPROVEMENTS <br />Journey Ventures LLC. — USR -1687 <br />THIS AGREEMENT, made and entered into this _7_p� day of , 2011, <br />by and between the County of Weld, State of Colorado, acting through its Board of County <br />Commissioners, hereinafter called "County," and Journey Ventures LLC., hereinafter called <br />"Property Owner." <br />WITNESSETH: <br />WHEREAS, Property Owner is the owner of, the following described property in the <br />County of Weld, Colorado: <br />Lots A & B of Recorded Exemption RE -4744 in <br />Parts of Sections 7, Township 5 North, Range 64 <br />West of the 6th P.M. Weld County, Colorado and <br />hereinafter referred to as "the Property," and <br />WHEREAS, Property Owner has acquired land use permits from County for a Mineral Resource <br />Development Facility including Open Pit Mining and Materials Processing and Asphalt and <br />Concrete Batch Plants along with importation of resource material on approximately 84.63 acres <br />on the above described real property, and the County is currently in the process of considering a <br />Use -by- Special Review for the Property, and <br />WHEREAS, the Property Owner acknowledges that the issuance of USR -1687 is conditional <br />upon Property Owner's performance of the on -site and off -site improvements which are <br />described in this Agreement and depicted in a set of plans provided by Property Owner <br />(hereinafter referred to as "Plans ", a copy of which is attached to this Agreement and made a part <br />hereof, and <br />WHEREAS, Property Owner acknowledges that it may not engage in any activity described in <br />USR -1687 until said improvements have been completed, and <br />WHEREAS, the parties agree that Property Owner shall not be required to commence work on <br />the on -site or off -site improvements, nor to provide collateral for said improvements until <br />Property Owner submits and receives approval for a grading permit or for a Right -Of -Way <br />permit for construction of accesses and work within the County Right-Of-Way. <br />NOW, THEREFORE, IN CONSIDERATION OF the foregoing and of the promises and <br />covenants contained herein, the parties hereto promise, covenant and agree as follows: <br />A. Required Off -Site Improvements <br />1.0 Weld County Road (WCR) 58 & Weld County Road 53: <br />The Property Owner shall be responsible for the construction of certain on -site and off -site safety <br />1 <br />111 1111111! 111111111111 Ill! 111111 IIIII III 11111 IIII Ill! <br />3791261 09109/2011 11:42A Weld County, CO <br />1 at 17 R 0.00 D 0.00 Steve Moreno Clerk A Recorder <br />