Attachment E_SVMWA Agreement

AGREEMENT REGARDING ANNEXATION AND TRANSITION OF MUNICIPAL SERVICES This AGREEMENT REGARDING ANNEXATION AND TRANSITION OF MUNICIPAL SERVICES (the “Agreement”) is made and entered into effective this ___ day of ____________, 2026 (the “Effective Date”), by and between the CITY OF BOULDER, Colorado, a home rule city, (the “City”) and the SPRING VALLEY MUTUAL WATER ASSOCIATION, a nonprofit corporation of the State of Colorado (“SVMWA”) (individually referred to herein as a “Party” and collectively as the “Parties”). RECITALS WHEREAS, landowners within the Spring Valley Estates neighborhood, comprising more than 50 percent of the landowners in the area and owning more than 50 percent of the area (“Applicants”), have petitioned the City to annex the area more particularly described in Exhibit A (collectively, the “Annexation Area”) pursuant to City of Boulder case number LUR202300001(the “Petition”). WHEREAS, the properties within the Annexation Area (each individually hereafter “Annexation Property” and collectively “Annexation Properties”) currently receive water service from SVMWA and encompass all of the properties receiving service from SVMWA. WHEREAS, with annexation, the Applicants are seeking to connect the Annexation Properties to the City’s water utility. WHEREAS, the City already serves the Annexation Properties with sanitary sewer service pursuant to an out-of-city sanitary sewer agreement dated March 17, 1967, recorded in the records of the Boulder County Clerk and Recorder’s office on March 20, 1967, at Film 597, Reception No. 842044. WHEREAS, to connect to and receive water from the City’s water utility and meet City infrastructure requirements, public infrastructure improvements must be constructed and installed, including without limitation water mains, service taps, service lines from main to meter, water meters, fire hydrants, valves, a skid-mounted booster pump station manufactured by a manufacturer approved by the City, such as Peerless Pump Company, (the “Booster Pump Station”), and any associated appurtenances consistent with provisions in Chapter 11-1, “Water Utility,” Boulder Revised Code (B.R.C.) 1981, and the City of Boulder Design and Construction Standards (“DCS”) (collectively, “Water Distribution System”) and Cholla Court and Spring Valley Road will have to be upgraded to provide improved access for emergency vehicles and equipment (all collectively, “Spring Valley Public Improvements”). WHEREAS, SVMWA has contracted for the design for the Spring Valley Public Improvements and the design is at approximately 80 percent completion. The City is planning to initiate, following the effective date of annexation pursuant to the Petition, one or more local improvement districts to finance construction of the Spring Valley Public Improvements pursuant to the provisions Chapter 8-1, “Local Improvements,” B.R.C. 1981. 1

WHEREAS, pursuant to Section 9-2-17, “Annexation Requirements,” B.R.C. 1981, annexation of land to the City shall not create an unreasonable burden on the physical, social, economic, or environmental resources of the City. The cost of construction of the Spring Valley Public Improvements through a local improvement district will therefore be assessed to properties in the Annexation Area benefited by the improvements in connection with the annexation and pursuant terms and conditions set by the City Council during the annexation process (“Terms and Conditions”), except for costs that the City expressly agrees to finance herein or in the Terms and Conditions. WHEREAS, the Terms and Conditions of annexation (attached hereto as Exhibit B) create obligations for individual property owners within the Annexation Area, this separate agreement between the City and the SVMWA addresses (a) the water service that may be provided by SVMWA within the boundaries of the City between the effective date of the annexation pursuant to the Petition and connection of the last Annexation Property to City’s water utility; (b) timing of discontinuation of SVMWA water service to the Annexation Properties; (c) finalizing of the design of the Spring Valley Public Improvements and valid assignment of any rights under contracts for the design of any Spring Valley Public Improvements to allow the City to cause the construction of the Spring Valley Public Improvements; and (d) dedication of easements to the City, including any utility easements for the construction and future maintenance of the Spring Valley Public Improvements and including flood control easements. WHEREAS, the annexation into the City of the Annexation Properties is expected to be conditioned on (a) the execution of this Agreement by SVMWA prior to a public hearing by the City Council to determine if the proposed annexation complies with applicable state law and whether additional terms and conditions should be imposed pursuant to C.R.S. § 31-12-108 and (b) on approval by City Council of this Agreement at or generally concurrently with the public hearing held pursuant to C.R.S. 31-12-108. NOW THEREFORE, in consideration of the mutual covenants and agreements herein, including without limitation the recitals which are hereby incorporated, the Parties agree as follows: I.

ANNEXATION PROCEDURE 1.1

Annexation Procedure. The Parties agree to the following annexation procedure:

A. Council Resolution. This Agreement is conditioned upon the City Council finding substantial compliance of the Petition with the requirements for annexation petitions under Section 31-12-107(1) C.R.S., and, following the hearing process for annexation petitions set forth in the Municipal Annexation Act of 1965 adopting a resolution, essentially in the form attached as Exhibit C, finding the requirements of the applicable provisions of section 30 of article II of the state constitution and sections 31-12-104 and 31-12-105 C.R.S. have been met, determining that the Terms and Conditions should be imposed on the Annexation Area as additional terms and conditions of annexation, and calling for an election on the question of annexation of the Annexation Area into the City (the “Annexation Resolution”).

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B. Annexation Election. Upon approval of the Annexation Resolution, the City will petition the District Court to call a special election for the eligible electors within the Annexation Area and the City will hold an election on the question of annexation in accordance with the Annexation Resolution. SVMWA agrees to reimburse the City for any costs and expenses associated with this election, including costs of an outside consultant or firm hired by the City to perform election services, such as producing election materials (such as voter information, envelopes, guides, sample ballots, and ballots), mailing services, and election judge training. SVMWA shall reimburse the City for any and all costs and expenses associated with the election within 30 days of a written request by the City for payment and in no event later than prior to final adoption of the Annexation Ordinance (as defined below). C. Annexation Ordinance. If a majority of the valid votes in the election are in favor of annexation, the City Council will consider adopting an ordinance approving annexation of the Annexation Area (the “Annexation Ordinance”), pursuant to the terms of the Annexation Resolution. No additional terms or conditions of annexation will be added in addition to those contained in the Annexation Resolution. D. Timing. The Parties recognize that the State of Colorado Division of Local Government has awarded a $1 Million grant to the City for construction of the Spring Valley Public Improvements, conditioned on completion of the annexation no later than November 14, 2026; therefore, the Parties agree to work in good faith to complete the annexation process before November 2026 and to work in good faith to take the steps involved to accept and comply with the terms of the grant, provided the City believes it will reasonably be able comply with the terms of the grant. 1.2 Termination if Annexation Unsuccessful. In the event that annexation is not approved by a majority of the eligible voters voting in the annexation election, the Annexation Ordinance is not adopted by the City Council, or the annexation is otherwise not completed or voided, the terms of this Agreement shall be automatically terminated, except for financial obligations of SVMWA to the City for costs and expenses associated with the election as set forth in this Agreement which shall survive termination of other terms, and SVMWA may continue to provide water service to the properties within the Annexation Area without additional obligations hereunder. II.

CONSTRUCTION OF SPRING VALLEY PUBLIC IMPROVEMENTS

2.1 Construction of Public Improvements. SVMWA is responsible for and has contracted for the design of the Spring Valley Public Improvements, and the design plans are subject to city manager review and approval and being reviewed under case number TEC202300045 (the “Plans”). SVMWA is responsible for the costs to complete or nearly complete the design of the Spring Valley Public Improvements. The design of the Spring Valley Public Improvements shall be 100 percent or nearly 100 percent complete prior to approval of an Annexation Ordinance. Reasonably promptly after completion of the annexation proceedings, the City will construct or bid and contract for the construction of the Spring Valley Public Improvements, substantially in accordance with the Plans, except for changes approved by the City and SVMWA (the “Construction Contract”). The Parties acknowledge that the timing of 3

construction bidding and contracting will be impacted by the timing of various pre-construction tasks, including the completion of the design and procurement of property rights necessary for the construction of the Spring Valley Public Improvements. Only substantial changes to the Plans require approval by the City and SVMWA, non-substantial changes may be approved solely by the City. The City intends to contract or have a contractor contract with Peerless Pump Company, or an affiliated company, for the design and construction of a skid-mounted Booster Pump Station as the initial pump that will serve the Annexation Properties. The Booster Pump Station will be designed in accordance with the specifications set forth in the Plans and to meet the system pressure standards of Section 5.04 (A) of the City of Boulder Design and Construction Standards, with an operational goal of providing adequate pressure at the meter to serve the highest-elevation dwelling units in the system without over-pressuring the lowest-elevation dwelling units. In the event that the City wishes to contract with any company other than Peerless Pump Company or an affiliated company for the design and construction of the Booster Pump Station, the City shall publicly bid the design and construction of the Booster Pump Station and the City and SVMWA shall both approve the new company, which approval shall not be unreasonably withheld as long as the design, cost and quality are similar to that provided by Peerless Pump Station. SVMWA shall have no responsibility for the financing, construction, ownership or operation of the Spring Valley Public Improvements. The City anticipates establishing a local improvement district for the Spring Valley Public Improvements and for owners of affected properties within the district to pay 100 percent of the costs of constructing the Spring Valley Public Improvements except those costs paid for by SVMWA or expressly agreed to by the City herein or the Terms and Conditions. Reasonably promptly after creation of a local improvement district, the City will cause the construction of the Spring Valley Public Improvements, substantially in accordance with the Plans and the terms of this Agreement. The City has no obligation to create a local improvement district, in particular, if the owners of a majority of all properties benefitted and constituting the basis of assessment protest or object to the creation of the local improvement district. 2.2 Costs. The City agrees to pay that portion, if any, of the costs of constructing the Booster Pump Station incurred for design elements requested by the City that exceed City codes and Design and Construction Standards or, where standards are not specified in City codes and Design and Construction Standards, that exceed standards of the American Water Works Association (“AWWA”). 2.3 Coordination with other Utilities. The City agrees to reasonably coordinate its construction of Spring Valley Public Improvements with any efforts by an authorized provider to install fiber-optic cable in the same public right-of-way or public easement, to the extent that such coordination will not unreasonably delay or otherwise interfere with the City’s construction of the Spring Valley Public Improvements. 2.4 Assignment of Contract. Prior to any public hearing by City Council on the Petition, SVMWA shall provide the City with all contracts executed by SVMWA relating to the Spring Valley Public Improvements. Following City Council approval of an Annexation Ordinance, SWMWA shall, upon request by the City, assign to the City its rights under all contracts entered into by SVMWA relating to the Spring Valley Public Improvements, including 4

without limitation contracts related to design of the Spring Valley Public Improvements with JVA, Inc. Prior to passing of an annexation ordinance, SVMWA shall obtain binding written consent from any parties to the contracts required to be assigned, consenting to the assignment of SWMWA’s rights under the relevant contracts to the City consistent with this Agreement. The City shall have no obligation under those contracts or obligation to assume any obligations under such SVMWA contracts except as the City may expressly otherwise agree to in writing. III.

WATER SERVICE TRANSITION

3.1 Water Service. During construction of the Spring Valley Public Improvements, the City agrees to require its contractors to keep the SVMWA water system intact to allow for continued water service during construction. SVMWA will continue to provide domestic water supply to each Annexation Property with current SVMWA water service from the effective date of annexation pursuant to the Petition until each such property is connected to the City’s water system and the City has commenced providing water service. The City shall coordinate with SVMWA during the construction to notify SVMWA when each Annexation Property has been connected and when service is to be shut off from SVMWA and turned on from the City. SVMWA shall not deliver water to any Annexation Property after the City commences water service to a property. SVMWA will send out its final water service bill within 60 days of the City commencing water service to such Annexation Property. 3.2 Dedications / Conveyances to the City. Within 60 calendar days of the connection of the last dwelling unit in the Annexation Area to the City’s water system, or such earlier time as is agreed by the Parties, SVMWA shall dedicate to the City, at no cost to the City and by Bill of Sale: (a) any water meters or hydrants which are not replaced as part of the Spring Valley Public Improvements project; and (b) such other water system improvements that are owned by SVMWA and identified by the City. SVMWA shall vacate or assign easements of SVMWA as directed by the City. 3.3 Decommissioning of SVMWA System. Within 180 days after connection of the last Annexation Property within SVMWA to the City’s water system, in accordance with applicable law, except as specifically provided in this Agreement or the Terms and Conditions and at its expense, SVMWA shall decommission all facilities it owns, including without limitation the water mains, storage tank, wells, pump house, and other structures, in accordance with applicable law, unless otherwise agreed by SVMWA and the City. Within 180 days after connection of the last Annexation Property within SVMWA to the City’s water system, SVMWA shall remove any SVMWA water utility infrastructure and associated structures and improvements that are above ground and/or located up to one foot below ground, excluding any wells which SVMWA shall decommission in accordance with State of Colorado rules and regulations. In addition, the City may remove any facilities abandoned by SVMWA. 3.4 Water Rights. The City does not have any use for the water rights owned by SVMWA and does not intend to purchase or obtain a right of first refusal for the water rights. The City will not contest SVMWA’s sale of such water rights to another water user. If a party applies for a change of the SVMWA water rights in water court, the City reserves the right to file a statement of opposition to monitor the case and take action to ensure City water rights are protected, but will not otherwise oppose the change of water rights. 5

3.5 City Water Service. Upon connection of each Annexation Property to the City’s water system, the terms, conditions, limitations, restrictions, rights and remedies for such water service shall be as provided in the Boulder Revised Code and any rules adopted pursuant thereto. SVMWA shall have no obligations and assumes no risks associated with the City’s water service. IV.

SVMWA DISSOLUTION

4.1 Time for Dissolution. As a requirement of annexation, the Board of Directors of SVMWA shall use their best efforts to dissolve SVMWA within two years of the later of: a) the City’s final acceptance of the Spring Valley Public Improvements under the City’s construction contract for the Spring Valley Public Improvements or b) the connection of the last Annexation Property to the City’s Water System. 4.2 SVMWA Property. Furthermore, prior to dissolution of SVMWA, SVMWA shall dispose of, abandon or, subject to acceptance by the City, assign to the City all personal property. Any parcels within the Annexation Area that are owned by SVMWA, including without limitation that parcel generally known as 0 Cactus Court and more particularly described as that part of Lot 18, Spring Valley Estates, Boulder County, Colorado, described as beginning at the Westernmost corner of said Lot 18; running thence South 6°00' East, 89.53 feet along its westerly line; thence South 85°56' East, 44.35 feet; thence North 04°04’ East, 88.15 feet; thence North 85°56’ West, 60 feet to the point of beginning (the “SVMWA Parcel”), shall be conveyed to the owner of a property adjacent to the SVMWA parcel. Prior to this conveyance of any SVMWA-owned parcels within the Annexation Area, SVMWA shall cause any water utility infrastructure, any building, and any impervious area above ground and/or one foot below ground to be removed, excluding any wells which SVMWA shall decommission in accordance with State of Colorado rules and regulations. 4.3 Snow Plowing. The owners of the Annexation Property may organize a unit owners’ association of a common interest community to provide or contract for snow plowing, according to a right-of-way permit obtained from the City and in compliance with all applicable City requirements. V.

DEDICATION OF EASEMENTS

5.1 Utility Easements. The Parties recognize that some existing utility easements within the Annexation Area are owned by Boulder County. SWMVA shall file any required application or otherwise work with Boulder County so that, upon annexation, Boulder County will quitclaim to the City, at no cost to the City, any utility, water line, well, and stream easements dedicated on the Spring Valley Estates plat or otherwise dedicated to the public or to Boulder County that are located within the Annexation Area. In addition, upon the request of and at no cost to the City, SVMWA will assign any utility, water line, or similar easements held by SVMWA to the City, to the extent permissible under the terms of the easement. Where new easements are needed for the installation of the Spring Valley Public Improvements, SVMWA shall facilitate dedication of all such easements to the City at no cost to the City, by the owners of the underlying properties. Execution of easement dedications, quitclaim deeds, and assignments required under this Agreement shall occur prior to final adoption of an Annexation Ordinance. The form and terms of the easements, assignments and quitclaim deeds will be subject to City approval.

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5.2 Flood Control Easements. SVMWA shall contract for preparation of legal descriptions of flood control easements to be dedicated from owners of Annexation Property to the City of Boulder, as a condition of annexation, for properties located within the conveyance zone, as delineated on the City’s regulatory floodplain mapping. SVMWA shall facilitate execution of any required flood control easements to the City by the owners of the underlying properties prior to final adoption of an Annexation Ordinance. The form and terms of the easements will be subject to City approval. 5.3 Easement Acceptance. SVMWA shall submit to the City the executed easements, quitclaims, and assignments required under this Agreement prior to final adoption of an Annexation Ordinance. Final adoption of the Annexation Ordinance shall be considered the acceptance of any easements dedicated, quitclaimed, or assigned to the City under the terms of this Agreement. If the Annexation Area is not annexed by the City pursuant to the Petition, the easements provided, quitclaimed, or assigned by the County or SVMWA to the City pursuant to the terms of this Agreement will be considered not accepted, and the City will not record and will destroy the easement documents. VI.

GENERAL TERMS AND CONDITIONS

6.1 Defaults. A default shall exist if either Party fails to comply with the terms and conditions hereof and such failure shall continue for a period of thirty (30) days after notice thereof given by the other Party. In the event of a default, the non-defaulting Party may enforce its rights under this Agreement by any remedy available at law or equity, including without limitation, specific performance. The Parties may agree to participate in mediation before proceeding to court or in lieu of litigation. 6.2 No Partnership or Agency. Notwithstanding any language in this Agreement, or any representation or warranty to the contrary, neither SVMWA nor the City shall be deemed or constitute a partner, joint venture, or agent of the other. Any actions taken by the Parties pursuant to this Agreement shall be deemed actions as an independent contractor of the other. 6.3 No Third-Party Beneficiaries. It is expressly understood and agreed that enforcement of the terms and conditions of this Agreement and all rights of action relating to such enforcement shall be strictly reserved to the Parties. It is the express intention of the Parties that any person, other than the Parties, shall be deemed to be only an incidental beneficiary under this Agreement. 6.4 Governing Law and Venue. This Agreement shall be governed by the laws of the State of Colorado, and venue shall be in Boulder County, Colorado. 6.5 Authority. The Parties represent and warrant that they have taken all actions necessary to legally authorize the undersigned signatories to execute this Agreement on behalf of the Parties and to bind the Parties to its terms. 6.6 Entire Agreement. This Agreement contains the entire agreement of the Parties relating to the subject matter hereof and, except as provided herein, may not be modified or amended except by written agreement of both Parties. 7

6.7 Counterparts. This Agreement may be executed in counterparts, each of which shall constitute one and the same instrument. 6.8 Binding Effect. This Agreement can be assigned only with the consent of the other Party. This Agreement shall be binding upon, and shall inure to the benefit of, the Parties and their respective heirs, personal representatives and successors and permitted assigns. 6.9 Recitals and Exhibits. All recitals and exhibits referred to in this Agreement are incorporated herein for all purposes. 6.10 Severability. In the event a court of competent jurisdiction holds any provision of this Agreement invalid or unenforceable, such holding shall not invalidate or render unenforceable any other provision of this Agreement. 6.11 Written Notices. Written notices required under this Agreement shall be directed to the following and shall be deemed received as of the date of hand-delivery, one day after delivery by over-night delivery service, or as of the date indicated on the return receipt request of a certified mailing: If to the City: Boulder City Manager P.O. Box 791 Boulder, CO 80306 With a copy to: Boulder City Attorney P.O. Box 791 Boulder, CO 80306 If to SVMWA: Joe Scutero President, Spring Valley MWA 3830 Spring Valley Road Boulder, CO 80304 With a copy to: Carolyn R. Steffl, Esq. Dietze and Davis, P.C. 2060 Broadway, Suite 400 Boulder, CO 80302 IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed as of the Effective Date. 8

SPRING VALLEY MUTUAL WATER ASSOCIATION, a Colorado nonprofit corporation

ATTEST:

Joe Scutero By: Joe Scutero (Jun 2, 2026 09:43:09 MDT) Joe Scutero, President

Secretary

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CITY: CITY OF BOULDER, a Colorado home rule city By:

Nuria Rivera-Vandermyde, City Manager

ATTEST: ______________________________ City Clerk APPROVED AS TO FORM: Date: _________________, 2026

City Attorney

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EXHIBIT A Description of Annexation Area

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LEGAL DESCRIPTION – FOR AREA TO BE ANNEXED A PARCEL OF LAND BEING SPRING VALLEY ESTATES, LOTS 1-13, LOTS 16-22 AND LOTS 3242, A PLAT RECORDED AUGUST 27, 1965 AT RECEPTION NO. 792353; SPRING VALLEY ESTATES, REPLAT B, LOTS 1B AND 2B, A PLAT RECORDED AUGUST 8, 2006 AT RECEPTION NO. 02796710; SPRING VALLEY ESTATES, REPLAT A, LOT 4A, A PLAT RECORDED JANUARY 3, 2005 AT RECEPTION NO. 2654889; SPRING VALLEY ESTATES, LOT LINE ADJUSTMENT OF LOTS 14 & 15, LOTS 14A AND 15A, A PLAT RECORDED OCTOBER 25, 2023 AT RECEPTION NO. 4026267, ALL OF THE BOULDER COUNTY RECORDS LOCATED IN THE SW 1/4 OF SECTION 13, AND THE NW 1/4 OF SECTION 24, TOWNSHIP 1 NORTH, RANGE 71 WEST OF THE 6TH PRINCIPAL MERIDIAN, COUNTY OF BOULDER, STATE OF COLORADO, MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT THE MOST EASTERLY CORNER OF LOT 1, OF SAID SPRING VALLEY ESTATES, AND A POINT ON THE SOUTH LINE OF THE SW 1/4 OF SECTION 13 WHENCE THE SOUTHERLY LINE OF SAID LOT 1 BEARS N31°31'00"E, SAID LINE FORMING THE BASIS OF BEARINGS FOR THIS DESCRIPTION; THENCE ALONG THE BOUNDARY OF SPRING VALLEY ESTATES THE FOLLOWING TWO (2) COURSES: 1. S31°31'00"W, 145.92 FEET; 2. S19°00'00"E, 60.72 FEET; THENCE S71°02'13"W, A DISTANCE OF 60.01 FEET; THENCE S55°14'18"W, A DISTANCE OF 232.61 FEET; THENCE N89°23'00"W, A DISTANCE OF 167.93 FEET; THENCE S24°00'00"E A DISTANCE OF 175.00 FEET; THENCE S00°34'24"E, A DISTANCE OF 219.93 FEET TO THE MOST WESTERLY CORNER OF LOT 32; THENCE AROUND SAID LOT 32, SPRING VALLEY ESTATES THE FOLLOWING (7) SEVEN COURSES: 1. N65°30'38"E, A DISTANCE OF 143.41 FEET; 2. 46.36 FEET ALONG THE ARC OF A CURVE TO THE RIGHT, HAVING A CENTRAL ANGLE OF 53°09'36", A RADIUS OF 49.96 FEET AND A CHORD WHICH BEARS S56°33'33"E, A DISTANCE OF 44.71 FEET; 3. S30°00'00"E, A DISTANCE OF 179.26 FEET; 4. 54.60 FEET ALONG THE ARC OF A CURVE TO THE RIGHT, HAVING A CENTRAL ANGLE OF 36°30'14", A RADIUS OF 85.70 FEET AND A CHORD WHICH BEARS S11°44'53"E, A DISTANCE OF 53.68 FEET; 5. 26.76 FEET ALONG THE ARC OF A CURVE TO THE RIGHT, HAVING A CENTRAL ANGLE OF 102°13'46", A RADIUS OF 15.00 FEET AND A CHORD WHICH BEARS S57°37'07"W, A DISTANCE OF 23.35 FEET; 6. N71°16'00"W, A DISTANCE OF 75.40 FEET; 7. 246.54 FEET ALONG THE ARC OF A CURVE TO THE RIGHT, HAVING A CENTRAL ANGLE OF 47°07'58", A RADIUS OF 299.70 FEET AND A CHORD WHICH BEARS N47°42'00"W, A DISTANCE OF 239.65 FEET THENCE N24°08'00"W, A DISTANCE OF 103.30 FEET; THENCE 63.66 FEET ALONG THE ARC OF A CURVE TO THE LEFT, HAVING A CENTRAL ANGLE OF 08°19'12", A RADIUS OF 438.40 FEET AND A CHORD WHICH BEARS N28°17'36"W, A DISTANCE OF 63.60 FEET; THENCE S02°43'00"E, A DISTANCE OF 178.09 FEET;

THENCE 305.02 FEET ALONG THE ARC OF A CURVE TO THE LEFT, HAVING A CENTRAL ANGLE OF 47°31'58", A RADIUS OF 367.67 FEET AND A CHORD WHICH BEARS S47°33'51"E, A DISTANCE OF 296.34 FEET; THENCE S71°16'00"E, A DISTANCE OF 122.00 FEET; THENCE 173.66 FEET ALONG THE ARC OF A CURVE TO THE LEFT, HAVING A CENTRAL ANGLE OF 10°46'37", A RADIUS OF 923.30 FEET AND A CHORD WHICH BEARS S76°39'18"E, A DISTANCE OF 173.41 FEET; THENCE ALONG THE BOUNDARY OF SPRING VALLEY ESTATES THE FOLLOWING TWENTY (20) COURSES: 1. S89°57'00"W, 764.75 FEET; 2. N49°04'00"W, 330.75 FEET; 3. N02°18'00"W, 154.41 FEET; 4. N21°14'00"W, 185.56 FEET; 5. N82°41'00"W, 328.13 FEET; 6. N17°20'00"E, 223.85 FEET; 7. N72°08'00"E, 125.29 FEET; 8. N18°42'00"E, 189.93 FEET; 9. N00°32'00"W, 600.00 FEET; 10. N89°55'00"E, 400.00 FEET; 11. N00°32'00"W, 720.00 FEET; 12. N89°42'00"E, 521.40 FEET; 13. S08°31'00"E, 92.91 FEET; 14. S11°24'00"W, 80.06 FEET; 15. S38°44'00"E, 99.33 FEET; 16. S16°43'00"E, 102.01 FEET; 17. S09°00'00"W, 160.39 FEET; 18. S04°00'00"E, 377.10 FEET; 19. S18°01'00"E, 216.02 FEET; 20. S14°15'00"E, 243.57 FEET TO THE POINT OF BEGINNING; SAID PARCEL CONTAINS 43.194 ACRES MORE OR LESS.

A. JOHN BURI P.L.S. #24302 FOR AND ON BEHALF OF SITEWORKS 08/07/25 PROJECT NO. 24128

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ANNEXATION EXHIBIT SCALE: 1" = 400'

Spring Valley Estates Spring Valley Estates Boulder, CO 80304

Project: File: Date:

24128A-3 24128A 08/07/25

Witnessed By: Type text here

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ANNEXATION EXHIBIT SCALE: N.T.S.

Spring Valley Estates Spring Valley Estates Boulder, CO 80304

Project: File: Date:

24128A-3 24128A 08/07/25

EXHIBIT B Annexation Terms and Conditions for Landowners

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Spring Valley Annexation Terms and Conditions RECITALS A. Landowners within the Spring Valley Estates neighborhood, comprising more than 50 percent of the landowners in the area and owning more than 50 percent of the area (“Applicants”), have petitioned the City of Boulder (“City”) to annex the area more particularly described in Exhibit A to Resolution 1376 (collectively, the “Annexation Area”). B. The properties within the Annexation Area currently receive water service from the Spring Valley Mutual Water Association (“SVMWA”). C. With annexation, the Applicants are seeking to connect the properties in the Annexation Area to the City’s water utility. D. The City already serves the properties within the Annexation Area with sanitary sewer service pursuant to an out-of-city sanitary sewer agreement dated March 17, 1967, recorded in the records of the Boulder County Clerk and Recorder’s office on March 20, 1967, at Film 597, Reception No. 842044. E. To connect to and receive water from the City’s water utility and meet City infrastructure requirements, public infrastructure improvements must be designed, constructed and installed, including without limitation water mains, service taps, service lines from main to meter, water meters, fire hydrants, valves, a booster pump station, and any associated appurtenances consistent with the provisions in Chapter 11-1, “Water Utility,” Boulder Revised Code (B.R.C.) 1981, and the City of Boulder Design and Construction Standards (“DCS”) (collectively, “Water Distribution System”); additional rights-of-way and easements may need to be dedicated or obtained for required improvements; City property, rights-of-way and easement areas for such improvements will be impacted and have to be restored; and Cholla Court and Spring Valley Road will have to be upgraded to provide improved access for fire department vehicles and equipment (all collectively, “Spring Valley Public Improvements”). F. To assist the Applicants in annexing into the City, the City is offering to initiate, following the effective date of annexation, one or more local improvement districts to construct the Spring Valley Public Improvements pursuant to the provisions Chapter 8-1, “Local Improvements,” B.R.C. 1981. G. Pursuant to Section 9-2-17, “Annexation Requirements,” B.R.C. 1981, annexation of land to the City shall not create an unreasonable burden on the physical, social, economic, or Page 1 of 15

environmental resources of the City. The cost of construction of the Spring Valley Public Improvements through a local improvement district will therefore be assessed to properties in the Annexation Area benefited by the improvements and the annexation and the following terms and conditions (“Terms and Conditions”) shall be imposed on the owners of property within the Annexation Area. H. The Terms and Conditions create obligations for individual owners of a lot or parcel within the Annexation Area (each a “Landowner” and collectively “Landowners”). A separate agreement between the City and the SVMWA addresses obligations of SVMWA in this annexation, future discontinuance of water service by SVMWA within the Annexation Area, and dissolution of SVMWA when the City provides water service to lots and parcels in the Annexation Area (each individually hereafter “Annexation Property” and collectively “Annexation Properties”). NOW, THEREFORE, in consideration of the recitals which are incorporated herein by reference, the following Terms and Conditions shall be imposed on the annexation to the City of properties in the Annexation Area: 1. SVMWA Agreement. The annexation shall be conditioned on the execution by SVMWA of an agreement (“SVMWA Agreement”) between the City and SVMWA prior to a public hearing by the City Council to determine if the proposed annexation complies with the applicable state law and whether to impose terms and conditions on the annexation pursuant to Section 3112-108, C.R.S. The SVMWA Agreement shall provide for, without limitation: (a) the water service that may be provided by SVMWA within the boundaries of the City between the effective date of the annexation and connection of the last of all Annexation Properties to the City’s water utility; (b) timing of discontinuance of SVMWA water service to Annexation Properties; (c) completion or near completion of the design of the Spring Valley Public Improvements by SVMWA and valid assignment of any rights under contracts for the design of any Spring Valley Public Improvements to allow the City, as needed, to finalize or revise the design and cause the construction of the Spring Valley Public Improvements, and (d) dedication of easements to the City, including any utility easements for the construction and future maintenance of the Spring Valley Public Improvements and flood control easements. a. SVMWA shall be responsible for the dedication or granting of the required easements by the owners of the underlying properties to the City, at no cost to the City. The form and terms of the easements will be subject to the city manager’s approval. SVMWA Page 2 of 15

shall submit the easements to the City prior to consideration of an ordinance to annex the Annexation Area. Final adoption of an annexation ordinance shall be considered the acceptance of such easements. If the Annexation Area is not annexed by the City following City Council consideration of the annexation, the easements provided to the City under the SVMWA Agreement will be considered not accepted, and the City will not record and will destroy the easement documents. b. Prior to finalizing and execution of utility easements for the construction of the Spring Valley Public Improvements, the design of the Spring Valley Public Improvements must have progressed to a point that allows the City to determine, with reasonable certainty, the areas where the Water Distribution System will be located and the location and extent of easements that the City will need for the construction and accommodation of the Water Distribution System. c. Flood control easements are required for those areas of the Annexation Properties subject to the conveyance zone as delineated on the City’s regulatory floodplain mapping, and access easements are required to provide adequate access to the flood control easement areas for reasonable use thereof. d. Prior to dissolution of SVMWA, the parcel within the Annexation Area generally known as 0 Cactus Court and more particularly described as that part of Lot 18, Spring Valley Estates, Boulder County, Colorado, described as beginning at the Westernmost corner of said Lot 18; running thence South 6°00' East, 89.53 feet along its westerly line; thence South 85°56' East, 44.35 feet; thence North 04°04’ East, 88.15 feet; thence North 85°56’ West, 60 feet to the point of beginning that is owned by SVMWA (“SVMWA Parcel”) shall be conveyed to the owner of an adjacent property. Prior to this conveyance of the SVMWA Parcel, any water utility infrastructure located above ground and up to one foot below ground, excluding any wells which shall be decommissioned in accordance with State of Colorado rules and regulations, any building, and any other impervious area on the SVMWA Parcel shall be removed. 2. SVMWA Dissolution. As a requirement of annexation, the Landowners shall use their best efforts to dissolve SVMWA within two years of the City’s final acceptance of the Spring Valley Public Improvements under the City’s construction contract for the Spring Valley Public Improvements or withing two years of commencement of City water service to all dwelling units within SVMWA, whichever occurs later.

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3. Spring Valley Public Improvements. Following annexation, the city manager will propose to establish a local improvement district (“LID”) under the procedures established in Chapter 8-1, “Local Improvements,” B.R.C. 1981, for the construction of the Spring Valley Public Improvements. The city manager will propose to establish the LID pursuant to the procedure set forth in Section 81-3, “Initiation of Local Improvement District by City Manager,” B.R.C. 1981. The proposal will include the following: a. The City will construct or cause the construction of the Spring Valley Public Improvements. b. The Spring Valley Public Improvements design, construction, and construction administration will include and be consistent with the following: i. Water mains, service taps, service lines from main to meter, water meters, fire hydrants, valves, and any associated appurtenances constructed as part of the Spring Valley Public Improvements will be located in City right-of-way or City utility easements, and, to the extent reasonably feasible, new water mains will be constructed within existing right-of-way or City utility easements. Where necessary and not otherwise provided to the City as may be required under these Terms and Conditions, new rightsof-way or easements may be acquired by the City. ii. Spring Valley Public Improvements will be designed and constructed to City standards, including without limitation the Boulder Revised Code and the City of Boulder Design and Construction Standards, except for variances or waivers approved in advance by the City in accordance with City standards. With regard to a booster pump station, where standards are not specified, the improvements will be designed to American Water Works Association (“AWWA”) standards and published manufacturer’s recommendations. iii. The Water Distribution System will generally be based on a design provided by SVMWA that is approved by the city manager pursuant to TEC2023-00045. iv. The Water Distribution System will include a booster pump station to serve all properties within the Annexation Area. The design of the booster pump station will generally be based on a design provided by SVMWA to the City that is approved by the city manager pursuant to TEC2023-00045. The booster pump station will be placed on an existing City parcel, adjacent to the Maxwell Water Tank and Maxwell Hydroelectric Facility, subject to City approval of such development pursuant to the Boulder Page 4 of 15

v.

vi.

vii.

Revised Code. The city manager will submit and process a site plan application for such site. The booster pump station will be designed to allow for delivery of water pressures consistent with the DCS standards, with an operational goal of providing adequate pressure at the meter to serve the highest-elevation dwelling units in the system without overpressuring the lowest-elevation dwelling units. Cholla Court right-of-way improvements to improve the City fire department’s ability to respond to fires will generally be based on a design provided by SVMWA that is approved by the city manager pursuant to TEC2023-00045. Spring Valley Road right-of-way improvements to improve the City fire department’s ability to respond to fires will generally be based on a design provided by SVMWA that is approved by the city manager pursuant to TEC2023-00045. No other street improvements, such as curb, gutter, sidewalk, or streetlights, will be included in this initiation, except as those may be associated with the construction of the Spring Valley Public Improvements.

c. The LID proposal will include a cost estimate for the Spring Valley Public Improvements. Property owners within the LID will be responsible to pay costs up to the amount of 100 percent of the cost estimate to accomplish the design, construction, installation, reconstruction, renewal, or replacement of improvements that are Spring Valley Public Improvements, including, without limitation, acquisition of right-of-way and easements, development review application costs, consultant and contractor costs, and administrative costs, plus any such costs up to 15 percent over that cost estimate if the design, construction, or acquisition costs or other costs of items previously not foreseen exceed estimated costs, (collectively, “Project Costs”), except those portions of the Project Costs expressly set forth below, in i. through iv., or that the City chooses to bear and except that no assessment will exceed the special benefit accruing to affected properties: i. Any portion of the Project Costs paid by SVMWA and not by the City, including any design, surveying, and easement acquisition costs paid by SVMWA. ii. Any portion of the Project Costs for which the City has received, and does not have to pay back, grant funding or contributions from third parties for the Spring Valley Public Improvements. The City has been awarded a $1,000,000 grant from a DOLA EIAF grant, contingent on annexation by November 14, 2026. The City will work in good faith towards receiving the DOLA EIAF grant funds including such steps as the City will Page 5 of 15

iii.

iv.

reasonably be able to comply with in the terms of the grant. Any funds from the DOLA EIAF grant received by the City will be used consistent with grant requirements and allocated to reimburse costs associated with the Water Distribution System, which may include costs for design and engineering services for the Water Distribution System if consistent with grant requirements. The City will consider allocating grant funds such that 50% are applied to the pump station costs and 50% are applied to the Water Distribution System costs. Costs associated with improvements the City chooses in its sole discretion to include that exceed City standards (which for the pump station consists of nationally recognized standards), such as upsizing of the transformer for electric service to the Maxwell site, optional upgrades to the pump station, or chip seal coating of roads within the Annexation Area, if included in the project. Any costs associated with City staff time used to manage third-party contractors and consultants and City staff time used to establish and manage financing for the Spring Valley Public Improvements.

d. The Annexation Area is the general geographical area proposed to be assessed. e. The following method for computing assessments against affected properties (other than the SVMWA Parcel): i. Water Distribution System: 1. Costs of design and installation of the Water Distribution System, except water main and pump station costs, including service taps, service lines from tap to meter, water meters, meter pits, meter assemblies, road base for patching after line installation, and costs of easement acquisition (if paid for by the City), sitework, mobilization, and project administration will be assessed equally on a per property basis; 2. Costs of water main installation not contained within the costs set forth in 1., above, will be assessed among the properties as follows: a. Fifty percent of the costs assessed based on property square footage 1 relative to the total square footage of the properties in the Annexation Area that have a dwelling unit or can have a dwelling unit; and

1

Based on Boulder County Assessor records.

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b. Fifty percent of the costs assessed based on the building square footage of a property 2, relative to the total building square footage in the Annexation Area. 3. Costs of a pump station, including without limitation, the costs of the purchase, installation, and construction of the pump station and pump station building, not contained within the costs set forth in 1., above, will be assessed among the properties as follows: a. Fifty percent of the costs assessed based on property square footage 3 relative to the total square footage of the properties in the Annexation Area that have a dwelling unit or can have a dwelling unit; and b. Fifty percent of the costs assessed based on the building square footage of a property, 4 relative to the total building square footage in the Annexation Area. ii. Road improvements to Cholla Court, including without limitation, costs of design, construction, and right-of-way and easement acquisition will be assessed equally on a per-property basis among the properties on Cholla Court. iii. Road improvements to Spring Valley Road, including without limitation, costs of design, construction, and right-of-way and easement acquisition will be assessed equally on a-per property basis among the properties on Spring Valley Road. iv. Construction management, contingency, and contractor’s overhead and profit will be assessed among the properties based on a pro rata allocation of the total project cost (other than pre-construction costs). For example, if property X is paying 3% of the costs described in Paragraph 3.e.i-iii, then property X will pay 3% of the total cost of construction management, contingency, and contractor’s overhead and profit. f. A list of affected properties to be assessed. g. The assessment proposed to be levied against each affected property. h. Assessments will be levied by ordinance when the construction of the Spring Valley Public Improvements have been substantially completed as follows: 2 Based on Boulder County Assessor records for the existing (or, if none, previously existing) building(s), unless the County has approved a building permit for redevelopment of the property, in which case the square footage of the redeveloped building(s) will be applied. 3 Based on Boulder County Assessor Records. 4 Based on Boulder County Assessor records for the existing (or, if none, previously existing) building(s), unless the County has approved a building permit for redevelopment of the property, in which case the square footage of the redeveloped building(s) will be applied.

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i.

ii.

iii.

Payment In Full: Assessments will be due and payable within 30 days after the effective date of the assessment ordinance. If an assessment is not paid in full when due, the Landowner will be deemed to have elected to pay in installments as described in ii. below. Installments: Alternatively, assessments can be paid in 30 annual, substantially equal installments, amortized over a total 30-year payment period. The interest rate applied to the installment will be established by the City in the ordinance establishing the LID and shall be sufficient to recover the City’s actual cost of borrowing, including without limitation, the interest rate borne by any bonds, direct placement loan, or other indebtedness issued or incurred to finance the project. A penalty of one and one-half percent per month accrues on the outstanding principal and accrued interest if an installment is not paid on the date it is due. The city manager may waive the penalty if the owner demonstrates good cause. The first installment payment of principal and interest is due and payable within 30 days after the effective date of the ordinance. If a Landowner fails to pay an assessment or installment within 30 days of the date on which it is due, the whole amount of unpaid principal, accrued interested, and penalty becomes due and payable. If a Landowner has refused or neglected to pay any installment assessment within 30 days of the date on which it is due, the city manager will, at least once each year, but not sooner than December first of each year, certify the amount of the principal, interest, and penalties due and unpaid together with 10 percent of the delinquent amount for costs of collection to the county treasurer to be assessed and collected in the same manner as general taxes are assessed and collected pursuant to Section 8-1-18, “Installment Payments and Delinquent Assessments,” B.R.C. 1981.

i. The City has no obligation to create the local improvement district, in particular, if the owners of a majority of all properties benefitted and constituting the basis of assessment protest or object to the creation of the local improvement district. 4. Private Connection to the City’s Water Utility. a. Connection to City’s water utility. Upon completion of the Water Distribution System, Landowners within the Annexation Area shall not connect an Annexation Property to or have it be served by any water utility other than the City’s and shall connect the Annexation Property to the City water utility when so required by the city manager.

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b. Service Lines to Homes. The construction of the service line between the service tap into the water main and the meter shall be constructed as part of the Spring Valley Public Improvements to meet City standards, including without limitation the Boulder Revised Code and the City of Boulder Design and Construction Standards. The construction of any service line between the meter and dwelling unit and/or appurtenances, such as backflow prevention or pressure reducing valves that may be necessary to connect a Landowner’s dwelling unit to the new water meter as determined by the city manager, is the responsibility of the Landowner at the Landowner’s costs. Each Landowner may elect at their own cost to replace their service line between the meter and the dwelling unit, in which case, the water service line shall meet City standards, including without limitation the Boulder Revised Code and the City of Boulder Design and Construction Standards. c. Pressure Valves. Depending on the water pressure delivered to each Annexation Property through the Water Distribution System, prior to connecting to the City water utility, Landowners, at their costs, may be required to install or modify pressure reducing valves on their property to meet applicable City standards. 5. Water Plant Investment Fee (“Water PIF”). a. Rate and Payment. Prior to the setting of a water meter and connecting an Annexation Property to the City water utility, the Landowner shall pay the City’s Water PIF that is due pursuant to the Boulder Revised Code at the rates appliable in 2023 or enter into a written payment plan agreement with the City to pay the Water PIF in monthly installments over a period of 10 years from the first bill for the Water PIF. b. Payment Plan Option. If a Landowner chooses to enter into a payment plan agreement, at the time payment is due for each monthly installment, in addition to the monthly installment, a payment plan charge shall be paid in the amount of 30 percent of the monthly installment. There will be no penalty for prepayment of the remaining outstanding principal amount due, and no payment plan charge for prepayments. The first installment shall be paid within 10 days after the date of receipt of the first bill for the Water PIF. For any property which participates in the payment program, the property owner shall pay the entire outstanding obligation for the Water PIF, including any payment plan charges that are due for missed monthly payments, and the full unpaid principal amount at such time as the property is sold. No penalty or payment plan charge will be imposed for pre-payment of the Water PIF in whole or in part.

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c. Billing and Collection. The payment-in-full charge and the monthly installment due under a payment plan may be included on the same bill that includes water, wastewater, or storm water and flood management services charges or may be included on a separate bill as provided in Title 11, “Utilities and Airport,” B.R.C. 1981. The billing, payment, and collection provisions of Sections 11-1-52 “Water Plant Investment Fee,” 11-1-53 “Use of Fees,” and 11-1-54 “Certification of Unpaid Charges to County Treasurer,” B.R.C. 1981, shall apply to the billing, payment, and collection of the Water PIF, including installments and payment plan charges due under the phased payment plan program for the Water PIF, and any interest on delinquent payments due thereon. d. Base Outdoor Water Irrigation PIF. The base outdoor irrigation Water PIF associated with 2,000 square feet of irrigable area is eligible for inclusion within a payment plan. Additional water PIFs for outdoor irrigation (beyond the base 2,000 sq ft) shall be due and paid prior to setting of water meter and connection to City water system. City water budget billing will be applicable as is used for other similar customers in the City. Note that if a Landowner fails to purchase adequate PIF for irrigation, then consumption is billed at higher block rates. e. Vacant Property. Any Landowner of property in the Annexation Area (other than the SVMWA Parcel) that is vacant (without a dwelling unit) or has a dwelling unit under construction at the time of completion of the Water Distribution System so as to prevent connection of the dwelling unit to the City water utility at that time will, at the time of issuance of a building permit to construct a new dwelling unit on the property or of connection of a dwelling unit on the property to the city’s water utility, whichever occurs first after annexation, be responsible for payment of the full Water PIF in effect at that time, and tap, service line, meter charges, and other applicable standards and fees. 6. Stormwater Plant Investment Fee (“Storm PIF”). a. Rate. The Landowners shall pay the Storm PIF that is due for developed property annexing into the City pursuant to the Boulder Revised Code at the rates applicable in 2023. b. Payment. The Storm PIF will be charged to the Landowners in a City of Boulder utility bill no earlier than 30 days following the effective date of the annexation. Within 10 days of a Landowner’s receipt of that utility bill, the Landowner shall pay the Storm PIF or enter into a written payment plan agreement with the City to Page 10 of 15

pay the Storm PIF in monthly installments over a period of 10 years from the first bill for the Storm PIF. c. Payment Plan Option. If a Landowner chooses to enter into a written payment plan agreement with the City to pay the Storm PIF in monthly installments over a period of 10 years, at the time payment is due for each monthly installment, in addition to the monthly installment, a payment plan charge shall be paid in the amount of 30 percent of the monthly installment. There will be no penalty for prepayment of the remaining outstanding principal amount due, and no payment plan charge for prepayments. The first installment shall be paid within 10 days after the date of receipt of the first bill for the Storm PIF. For any property which participates in the phased repayment program, the property owner shall pay the entire outstanding obligation for the Storm PIF, including any payment plan charges that are due for missed monthly payments, and the full unpaid principal amount at such time as the property is sold. No penalty or payment plan charge will be imposed for prepayment of the Storm PIF in whole or in part. d. Billing and Collection. The payment-in-full charge and the monthly installment due under a payment plan may be included on the same bill that includes water, wastewater, or storm water and flood management services charges or may be included on a separate bill as provided in Title 11, “Utilities and Airport,” B.R.C. 1981. The billing, payment, and collection provisions of Sections 11-5-12, “Billing and Payment of Fees,” 11-5-13, “Certification of Unpaid Charges to County Assessor,” and 11-5-14, “Charges are Lien on Property,” B.R.C. 1981, shall apply to the billing, payment, and collection of the Storm PIF, including installments and payment plan charges due under the payment plan program for the Storm PIF, and any interest on delinquent payments due thereon. e. Pending Permit. For any impervious area that is constructed on the Landowner’s property after the effective date of the annexation ordinance pursuant to a valid permit issued by Boulder County, for which a complete application was submitted to Boulder County prior to the effective date of the annexation ordinance, the Landowner shall pay the Storm PIF in full. The Storm PIF shall be assessed at the rate in effect at that time of issuance of the permit or construction of such impervious area, whichever occurs first after annexation. Payment shall be made no later than the earliest of: (i) prior to issuance of a certificate of completion or certificate of occupancy by Boulder County for the appliable improvements, or (ii) prior to connection of the property to the City’s water utility. No city payment plan is available for a Storm PIF paid under the terms of this Paragraph 6.e. Page 11 of 15

7. Other Fees. The City will not charge Landowners a water tap connection fee or right-of-way permitting fee for the construction of the Spring Valley Public Improvements. 8. SVMWA Parcel. The Storm PIF for any impervious area on the SVMWA Parcel at the time of annexation shall be due prior to conveyance of the SVMWA Parcel by SVMWA consistent with the conveyance requirement in the SVMWA Agreement. If at the time of such conveyance there is no impervious area on the SVMWA Parcel, no Storm PIF is due. Any addition of impervious area on the SVMWA Parcel following annexation is subject to the Storm PIF consistent with the standards of the Boulder Revised Code. 9. Water Rights. At the time of connection to the City’s water utility, but in no event later than issuance of a building permit for the Annexation Property, any Landowner with water or ditch rights used on or appurtenant to their property in the Annexation Area, shall sell or offer a right of first refusal to the City, consistent with Section 11-1-19, “Water and Ditch Rights,” B.R.C. 1981, for any water rights appurtenant to the property. The City does not have any use for the water rights owned by the SVMWA and does not intend to purchase or obtain a right of first refusal for the water rights. The City will not contest SVMWA’s sale of such water rights to another water user. If a party applies for a change of the SVMWA water rights in water court, the City reserves the right to file a statement of opposition to monitor the case and take action to ensure City water rights are protected but will not otherwise oppose the change of water rights. 10. Wetland Mapping. Prior to annexation of the Annexation Area, the City has contracted for the mapping of all stream, wetland, water bodies and buffer areas on the properties within the Annexation Area and preparation of a functional evaluation of the stream, wetland, and water bodies. The mapping and functional evaluations will be adopted as an update to the City’s regulatory maps as part of the annexation ordinance.

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11. Inclusion in the Northern Colorado Water Conservancy District. All Annexation Properties shall be included in the Northern Colorado Water Conservancy District (“District”) and the Municipal Subdistrict (“Subdistrict”) thereof prior to connection to the City water utility. The Annexation Properties are anticipated to be included pursuant to the process in Section 37-45-136(3.6), C.R.S., if not already included therein. To be included in both the District and the Subdistrict and be served with City water, Landowners shall pay any District taxes that are due and unpaid. 12. Use of Existing Wells. The City will not prohibit a Landowner from using existing, privately-owned wells for non-potable irrigation purposes on the Landowner’s property in the Annexation Area following annexation, even after an Annexation Property is served by the City water utility. Existing wells that are used for irrigation purposes must be registered and permitted by the State Engineer’s Office and operated in accordance with any augmentation and other requirements under Colorado water law. Existing wells shall not be used for domestic water purposes once the property is connected to the City’s water utility. No person shall make any cross-connections to the City’s municipal water supply system from any well on the property, and all persons must adhere to Chapter 5.11 Cross-Connection Regulations of the City’s Design and Construction Standards. 13. Historic Drainage. Drainage from Annexation Properties shall be conveyed in an historic manner that does not materially and adversely affect abutting properties. 14. Rental Property Requirements. If an Annexation Property is used as rental property at the time of annexation, it shall be brought into compliance with Chapter 10-3, “Rental Licenses,” B.R.C. 1981, within 90 days of the effective date of the annexation; for a rental license issued within 90 days of the effective date of the annexation, the energy efficiency requirements of Chapter 10-2, “Property Maintenance Code, Appendix C - Energy Efficiency Requirements,” B.R.C. 1981, shall be waived. Any subsequent application for a new or renewal of a license and any rental license for a new building or new dwelling unit on the Annexation Property shall be subject to the energy efficiency requirements of Chapter 10-2, B.R.C. 1981.

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15. Snow Plowing. Following annexation, a unit owners association of a common interest community for the lots within the Annexation Area may provide or contract for snow removal on streets within the Annexation Area, pursuant to an annual right-of-way permit and compliance with all applicable City requirements. 16. No Subdivision. Due to the area’s topography and location on the western boundary of the City, no lot or parcel within the Annexation Area may be subdivided to create an additional lot. 17. One Dwelling Unit per Lot or Parcel. Due to the area’s topography and location on the western boundary of the City, no lot or parcel within the Annexation Area may be developed with more than one principal dwelling unit. Notwithstanding the foregoing, the SVMWA Parcel is not a buildable lot and may not be developed with a principal dwelling unit. 18. Building Permit Application. Any building permit applications which have been submitted to Boulder County prior to the effective date of annexation for the Annexation Area may continue under review for approval by Boulder County, and once approved, the Landowner may construct the approved structure according to County regulations. After the effective date of annexation, any new building permit applications must be submitted to the City of Boulder for review and approval. 19. Initial Zoning. The properties in the Annexation Area will be annexed with an initial zoning designation of Residential Estate (RE), and except as otherwise set forth in these Terms and Conditions shall be subject to all of the rights and restrictions associated with that zoning. This provision does not prevent a future rezoning of Annexation Properties. 20. Annexation Agreement. Each Annexation Property shall be subject to these Terms and Conditions unless a separate annexation agreement has been executed by the City and the Landowner that expressly modifies the Terms and Conditions. Page 14 of 15

21. Breach. In the event a Landowner fails to pay any monies due under these Terms and Conditions or fails to perform any affirmative obligation hereunder, the City may collect the monies due in the manner provided for in Section 2-2-12, B.R.C. 1981, as amended, or the City may perform the obligations on behalf of the Landowner, and collect its costs in the manner provided in these Terms and Conditions. The annexation ordinance shall be the enabling ordinance required under Section 31-20-105, C.R.S. authorizing the collection of those debts.

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EXHIBIT C City Council Annexation Resolution

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RESOLUTION 1381 A RESOLUTION OF THE COUNCIL OF THE CITY OF BOULDER SETTING FORTH FINDINGS OF FACT AND CONCLUSIONS REGARDING THE ANNEXATION OF APPROXIMATELY 43.194 ACRES OF LAND GENERALLY LOCATED WITHIN THE SPRING VALLEY ESTATES SUBDIVISION, INCLUDING PROPERTIES ALONG LINDEN DRIVE, CHOLLA COURT, SPRING VALLEY ROAD, AND CACTUS COURT AND RIGHTS-OF-WAY, FINDING THAT THE PROPOSED ANNEXATION MEETS STATE LAW REQUIREMENTS, THAT ADDITIONAL TERMS AND CONDITIONS SHOULD BE IMPOSED, AND DIRECTING THAT AN ELECTION BE CALLED. THE CITY COUNCIL OF THE CITY OF BOULDER, COLORADO, HEREBY FINDS AND RECITES THAT: A. On May 7, 2026, the City Council of the City of Boulder adopted Resolution 1380 and thereby initiated annexation proceedings for property generally located within the Spring Valley Estates Subdivision and more particularly described in Exhibit A attached hereto and incorporated herein (the “Property”); and B. Following notice given, as required by law, the City Council duly held a hearing on said annexation on June 18, 2026. BASED ON THE FINDINGS MADE IN THIS RESOLUTION, ABOVE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF BOULDER, COLORADO, THAT: Section 1. The City Council hereby makes and adopts the determinations and findings contained in the recitals set forth above. Section 2. The Petition to Annex the Property complies with the Municipal Annexation Act (the “Act”), Section 31-12-101, et seq., Colorado Revised Statutes, as amended (“C.R.S.”). Section 3. Persons comprising more than fifty percent of the landowners in the area and owning more than fifty percent of the area, excluding public streets and alleys, and any land owned by the annexing municipality, meeting the requirements of Sections 31-12-104 and 31-12105, C.R.S. have petitioned for annexation of the Property. Section 4. incorporated town.

The Property is not embraced within any city, city and county, or

Section 5. The Property abuts, and is contiguous to, the City of Boulder by at least one-sixth of its perimeter.

Section 6. A community of interest exists between the Property proposed for annexation and the City of Boulder. Section 7. The Property is urban or will be urbanized in the near future, and the Property is integrated with or capable of being integrated with the City of Boulder. Section 8. The Property does not include any area included in another annexation proceeding involving a city other than the City of Boulder. Section 9. This annexation will not result in the detachment of the area from one school district and the attachment of same to another school district. Section 10. This annexation will not have the effect of extending the City of Boulder’s boundaries any further than three miles from any point of the existing city boundaries. Section 11. The Property does not include any area which is the same or substantially the same area in which an election for the annexation to the City of Boulder was held within 12 months preceding the filing of the above petition. Section 12. In establishing the boundaries of the Property proposed to be annexed, no land held in identical ownership, whether consisting of one tract or parcels of real estate, or two or more contiguous tracts or parcels of real estate, has been divided into separate parts or parcels without the written consent of the landowners thereof, unless such tracts or parcels are separated by a dedicated street, road, or other public way. Section 13. In establishing the boundaries of the Property proposed to be annexed, no land held in identical ownership, whether consisting of one tract or parcel of real estate or two or more contiguous tracts or parcels of real estate, comprising twenty aces or more which, together with buildings and improvements situated thereon, has a valuation for assessment in excess of $200,000 for ad valorem tax purposes for the year next preceding the filing of the petition, has been included within the Property without the written consent of the landowner. Section 14. The City Council further determines that the applicable parts of the Act have been met and that an election is not required under the Act unless additional terms and conditions are to be imposed. Section 15. The City Council further finds that the notice was duly given, and a hearing was held regarding the annexation in accordance with the Act. Section 16. The City Council concludes that the Property is eligible for annexation to the city and may be so annexed by ordinance. Section 17. The City Council further determines that additional terms and conditions should be imposed upon the area proposed to be annexed. Imposing additional terms and conditions requires an annexation election. The City Council directs that an election be called as provided in Section 31-12-112, C.R.S., nominates Elesha Johnson to be the election commissioner nominated by the City, authorizes the City Manager, in her discretion, to nominate a different

election commissioner as may be necessary, and directs the City Attorney to forthwith petition the District Court in and for the County of Boulder to hold said election. Section 18. The City Council determines that the annexation terms and conditions contained in Exhibit B, attached hereto and incorporated herein, are to be imposed upon the Property and the landowners therein, and accordingly shall be submitted to the voters in the annexation election. ADOPTED this 18th day of June 2026.

________________________________ Aaron Brockett, Mayor

Attest: _________________________________ Elesha Johnson, City Clerk

EXHIBIT A LEGAL DESCRIPTION

[Refer to Exhibit A of the Agreement Regarding Annexation and Transition of Municipal Services]

EXHIBIT B ANNEXATION TERMS AND CONDITIONS

[Refer to Exhibit B of the Agreement Regarding Annexation and Transition of Municipal Services]

20260529 Agreement Regarding Annexation - Boulder and Spring Valley - FINAL - For Signature Final Audit Report

2026-06-02

Created:

2026-06-01

By:

Heidi Colburn (hcolburn@dietzedavis.com)

Status:

Signed

Transaction ID:

CBJCHBCAABAASjfdKC-PudwaPFEkJfIaaQFADRDiLLJc

"20260529 Agreement Regarding Annexation - Boulder and Spri ng Valley - FINAL - For Signature" History Document created by Heidi Colburn (hcolburn@dietzedavis.com) 2026-06-01 - 4:03:05 PM GMT

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Agreement completed. 2026-06-02 - 3:43:09 PM GMT