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HomeMy WebLinkAboutC79-40 Improvements Agreement with Gerald TurnerIMPROVEMENTS AGREEMENT THIS AGREEMENT, made and entered into this first day of October, 1979, by and between Mr. Gerald E. Turner, hereinafter referred to as "Turner" and the Board of County Commissioners, County of Eagle, State of Colorado, hereinafter referred to as the "Board". WITNESSETH: WHEREAS, Turner as a condition of final approval of a minor subdivision located at 54 Beaver Road, Eagle -Vail, County of Eagle, State of Colorado, wishes to enter into an Improvements Agreement; and WHEREAS, Turner is obligated to provide security or collateral sufficient in the judgment of the Board to make reasonable provision for completion of certain improvements i.e, paving of parking area located on the property to be subdivided; and WHEREAS, Turner wishes to provide collateral to guarantee performance of this agreement by means of a letter of credit in the amount or two inousano dollars ($2,000.00); NOW, THEREFORE, in consideration of the following mutual covenants and agreements, Turner and the Board agree as follows: 1. Turner hereby agrees, at his sole expense, to furnish all equip- ment and material necessary to perform and complete in a good workmanlike manner on or before November 1, 1980, the paving of the parking area located on the subdivided property at 54 Beaver Road, Eagle -Vail, County of Eagle, Colorado, and to do all work incidental thereto according to and in compliance with the following; a. All laws of the United States, State of Colorado, Eagle County, and its various agencies, including zoning resolution, affected special districts and/or servicing authorities. b. Such other designs, drawings, maps, specifications, sketches and other matter submitted to and approved by any of the above stated governmental entities. 2. To secure and guarantee performance of Turner's obligations as set forth herein, Turner agrees to provide security and collateral in the form of a letter of credit from the First Bank of Eagle in the amount of two thousand dollars ($2,000.00). M 3. It is further mutually agreed that as improvements are completed, Turner may apply to the Board for a release of part or all of the collateral deposited with said Board. Upon inspection and approval, the Board shall release said collateral. If the Board determines that any of such improvements have not been constructed, in substantial compliance with specifications, it shall furnish Turner a list of specific deficiencies and shall be entitled to withhold collateral sufficient to ensure such substantial compliance. If the Board determines that Turner will not construct any or all of the improve- ments in accordance with all of the specifications, the Board may withdraw and employ from the deposit of collateral such funds as may be necessary to construct the improvements in accordance with the specifications. 4. The Board hereby agrees to final approval of the minor subdivision referred hereinabove, subject to the terms and conditions of this agreement. 5. Parties hereto mutually agree that this agreement may be amended from time to time, provided that such amendment be in writing and signed by all parties hereto. 6. In the event suit is brought upon this agreement, Turner hereby agrees to pay a reasonable attorney's fee to be fixed by the Court if judgment is rendered in favor of the County; and the County shall pay reasonable attorney's fees if judgment is rendered in favor of Turner. 7. County shall not, nor shall any officer or employee thereof, be liable or responsible for any accident, loss or damage happening or occurring to the works specified in this agreement prior to the completion and approval of the same, nor shall the County, nor any officer or employee thereof, be liable for any persons or property injured by reason of the nature of said work, but all of said liabilities shall and are hereby assumed by Turner. 8. Turner hereby agrees to indemnify and hold harmless the County, and any of its officers, agents and employees against any losses, claims, 1 damages, or liabilities to which the County or any such of its officers, x agents, or employees may become subject to, insofar as any such losses, claims, damages, or liabilities (or actions in respect thereof) that arise out of or are based upon any performance by Turner hereunder; and Turner shall reimburse the County for any and all legal or other expenses reasonably incurred by the County in connection with investigating or defending any such loss, claim, damage, liability or action. This indemnity provision shall be in addition to any other liability which Turner may other have. IN WITNESS WHEREOF, the parties have hereunto set their hands and seals the day and year first above written. COU A aT��CF EAGLE, STATE OF COLORADO By 0gh Its ATTEST: BOAR OFC LINTY COMM SSIONERS By: tClerk of the Board of >/ Daniel E. Williams, Chairman County Commissioners? W. Keith Troxel* Dale 4 . Grant MR. GERALD E. TURNER ADDRESS: TELEPHONE B Y� ACKNOWLEDGEMENT STATE OF COLORADO) COUNTY OF EAGLE ) ss. The foregoing instrument was acknowledged before me this day of October, 1979, by Witness my hand and official seal. My commission expires; Notary Public