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HomeMy WebLinkAboutC87-043 Amendment to SIA for Summit VistaC87-43-28 AMENDMENT T• SUBDIVISION IMPROVEMENTS AGREMA SUMMIT VISTA SUBDIVISION COUNTY OF EAGLE, STATE OF COLORADO THIS AMENDMENT made and entered into this 16th day of March , 1987, by and between SUMMIT VISTA, LTD., hereinaf- ter referred to as the "Subdivider," and THE BOARD OF COUNTY COMMISSIONERS OF EAGLE COUNTY, hereinafter referred to as the "County." WHEREAS, on or about August 22, 1984, the Subdivider and the County entered into a Subdivision Improvements Agreement as a condition of final plat approval of Summit Vista Subdivi- sion; and WHEREAS, to secure and guarantee faithful performance of its obligations thereunder, the Subdivider provided collateral in the form of a plat restriction on all lots within the Subdivision; and WHEREAS, pursuant to Resolution No. 85-21, the County deleted said plat restriction as the same related to Lots 20 through 40, inclusive, of Summit Vista Subdivision, and accepted as substitute collateral therefor an irrevocable letter of credit; and WHEREAS, the County conditioned its acceptance of the substitute collateral upon certain amendments being made to the Subdivision Improvements Agreement to ensure that the County be reimbursed for all reasonable collection costs associated with enforcement of the Subdivision Improvements Agreement. NOW, THEREFORE, the County and the Subdivider agree to amend that certain Subdivision Improvements Agreement dated August 22, 1984, by the addition of a paragraph 2(a), as follows: 2 (a ) If, for purposes of enforcing this Agreement, the County is forced to draw upon any collateral or substitute collateral provided by Subdivider pursuant to the terms herein, it is understood by the parties that the County shall draw from any such collateral funds in an amount sufficient to reimburse the County for reasonable collection and travel costs associated with the enforcement of this Agreement. All other terms and conditions of the original agreement and any prior amendments thereto shall remain in full force and effect. COUNTY OF EAGLE, STATE OF COLORADO, By and Through Its ATTEST: BOARD OF COUNTY COMMISSIONERS By By Clerk o. 4he Board of chard L: usrtafso ' Chairman t- Coun,-t �" ssioners ` s r v y SUBDIVIDER: SUMMIT VISTA, LTD. By: J n A. Christiansen G neral Partner STATE OF COLORADO ) ss County of Eagle ) The foregoing was acknowledged before me this A day of �ML�'1C , 1987, by John A. Christ&ansen, as a general partner of Summit Vista, Ltd. eaxk_ WITNESS my hand and official seal. My commission expires: Notary Public