HomeMy WebLinkAboutC04-359 Vail Resorts Development Company
tr;4- $5'1- 60
PUBLIC IMPROVEMENTS
AGREEMENT
BEAVER CREEK LANDING ROUNDABOUT
GRADING PERMIT
File No. MI-11973
clHIS PUBLIC IMPROVEMENTS AGREEMENT ("Agreement") made and entered into
this ..f"'-- day of tJW. . 2004, by and between Vail Resorts
Development Company (hereinafter "Developer") and the Board of County Commissioners of
the County of Eagle, State of Colorado (hereinafter "County").
WITNESSETH
WHEREAS, the Developer, as a condition of approval of the Beaver Creek Landing
Roundabout Grading Permit, File No. MI-11973, desires an Agreement as provided for by the
Land Use Regulations of Eagle County, Colorado, 1999, as amended (hereinafter referred to as
"Land Use Regulations") Chapter IT, Section 5-240; and
WHEREAS, pursuant to the same authority, the Developer is obligated to provide
security or collateral sufficient in the judgment of the County to make reasonable provisions for
completion of certain public improvements (hereinafter described as ''Public Improvements");
and
WHEREAS, pursuant to Article IV, Section 4-610 of the Land Use Regulations,
development in the unincorporated areas of Eagle County shall be planned and designed with all
plans and reports prepared under the direct supervision of a Professional Engineer; and
NOW, THEREFORE, in consideration of the premises and the covenants and agreements
herein contained to be kept and performed by the parties hereto, it is hereby understood and
agreed as follows:
1. PUBLIC IMPROVEMENTS
1.1 Public Improvements. Public Improvements are deemed to include all public
improvements related to this development on and off-site.
1.2 Scope of Work. The Developer hereby agrees, at its sole cost and expense, to
furnish all necessary equipment and material, and to complete all Public Improvements as
referenced in the attached Exhibit "A", and as set forth in all documents, construction drawings,
designs, maps, specifications, sketches, and other materials submitted by the Developer prior to
or at grading permit approval and accepted by the County, and in accordance with all laws of the
United States of America, State of Colorado, County of Eagle, and their respective agencies and
affected governmental entities. Such performance shall include acquisition of all necessary
rights-of-way.
1
1.3 Duties of Developer. For those Public Improvements required herein, including
but not limited to the reconstruction and physical improvements of that portion of any road
subject to this Agreement, the Developer shall retain an engineer whose duties shall include
construction s~g, observation of construction for conformance to the approved plans and
specifications, and materials sampling, testing and inspection using the Colorado Department of
Transportation 2001 Field Materials Manual as a guide for frequency of sampling and testing.
1.3.1 Construction Staking. Where applicable and by way of example only, the
following is a highlighting of the construction staking that will be required of the
Developer:
a. Roadway - horizontal and vertical control every 50 feet or every 25
feet in critical areas, specifically including:
-slope staking
-points of curvature
-points of tangency
-fillet radius points
-culverts
-transition points for super-elevation
-finished sub-grade
- finished gravel
b. Water. Sewer. and Other Utilities - horizontal and vertical control
every 100 feet, or every 50 feet in critical areas.
1.3.2 Testing. Where applicable and by way of example only, the following is a
highlighting of the acceptance testing that will be required of the Developer:
a. Utility and drainage culvert trench backfill under roadway prisms - one
density test per 200 C.Y. of backfill or a minimum of one test per roadway
crossing. This will require daily visits to the site by a testing laboratory
when utilities or drainage culverts are being backfilled within the roadway
pnsm.
b. Embankments for roadways - one density test per 2,000 C.Y. of any
additional embankment(s); and one density test per 500 C.Y. when within
100 feet of bridge approaches.
c. Finished Sub-grade - one density test per 250 lineal feet of roadway.
d. Aggregate base course - one in-place density per 250 lineal feet of
roadway, and gradation and Atterberg Limits test per 2,000 tons of
aggregate base course.
e. Hot Bituminous Pavement - two asphalt content, gradation and in-
place density tests per day's production.
2
f. Concrete - Curb and Gutter. Sidewalks and Bike Paths - tests for air
content, slump and compressive strength per 50 C.Y. of concrete placed or
minimum of one set of tests per day.
1.3.3 NotificationIRoad Construction. Developer or his Engineer shall notify
the Eagle County Engineer for the purpose of arranging an on-site inspection no less than
twenty-four (24) hours in advance of the following stages of road construction:
1) Finished sub-grade
2) Finished Aggregate Base Course
3) Asphalt Placement
4) Concrete - curb and gutter, sidewalks and bike paths
The County Engineer shall make an on-site visit within twenty-four (24) hours
notification or as shortly thereafter as reasonably possible for the purpose of observing
proof rolls on items 1) and 2) above and for general observation of construction methods
being employed at these stages. Said on-site inspection by the Eagle County Engineer
shall in no way abrogate the duties of the Developer as outlined elsewhere in this
Agreement. The Developer shall provide the proof rolling by arranging for a loaded
smgle unit truck carrying 18,000 pounds per rear axle.
1.3.4 Witnessing of Water and Sewer Laterals. It is essential that the ends of
these laterals be witnessed by the Developer's engineer to a minimum of three divergent
points and a permanent record made of the same. Copies of these records are required to
be furnished to the Eagle County Engineer prior to commencement of the two year
warranty period and the final release of collateral. In addition to witnessing of the
horizontal location of these laterals, a vertical witness shall be required. Horizontal
witnessing shall be to property comers, fire hydrants, manholes, and other "permanent"
features. Vertical witnessing shall be based on depth below ground and elevation based
on a datum used for the project. Benchmarks shall be shown on witness records.
1.3.5 Test Reports. All test reports shall be consecutively numbered, with
copies furnished directly to the Eagle County Engineer from the laboratory as they are
reported to the Developer or its engineer.
1.3.6 Record Drawings of Public Improvements. Record drawings, sealed,
signed and dated by a Registered Professional Engineer showing the as-constructed
horizontal and vertical locations of Public Improvements shall be submitted to the Eagle
County Engineer prior to commencement of the two year warranty period and the final
release of collateral by the County.
1.3.7 Affidavit ofMonumentation. An Affidavit ofMonumentation sealed,
signed and dated by a Registered Professional Land Surveyor stating that Beaver Creek
Landing Roundabout has been monumented in accordance with ~38-51-105, C.R.S., shall
be provided to the Eagle County Engineer prior to the acceptance of the Public
Improvements by the County.
3
1.4 Comoliance with Colorado Department ofTratlSl>ortation's State Highway Access
Code. Developer shall provide the County with designs in compliance with the Colorado
Department of Transportation's State Highway Access Code for all road improvements.
1.5 Date of Completion. All Public Improvements shall be completed prior to
December 31,2005.
1.6 Approval and Acceptance of Work.
1.6.1 Copies of all test results corresponding to work which is being inspected
and any other information which may be necessary to establish the satisfactory
completion of the work for which inspection is requested must be submitted prior to said
inspection. All such information shall be accompanied by a letter from the Developer's
engineer verifying the satisfactory completion of the work performed to date.
1.6.2 Notwithstanding Section 1.3.3 above, promptly after receiving a request
for inspection and the required documentation, the County Engineer shall review the
information presented and, if necessary, make a public inspection of the work completed.
1.6.3 All said work shall be done to the reasonable satisfaction of the County
Engineer and/or the County Department of Community Development, and shall not be
deemed complete until approved and accepted as complete by the County.
1.7 Estimated Costs of Public Improvements. The estimated cost of the Public
Improvements is the sum of 5790,490.00, as summarized in Exhibit "A". To secure and
guarantee performance of its obligations as set forth in this Section 1, including the completion
of the required Public Improvements, the Developer hereby agrees to provide security and
collateral in the form and as set forth in Section 2, below.
1.8 Landscape Guarantee. Developer has submitted a landscaping plan for Beaver
Creek Landing Roundabout which complies with Section 4-240, Installation and Maintenance
Requirements. The Developer agrees to abide by the Landscape Plan approved by the Eagle
County Engineer.
2. SECURITY AND COLLATERAL
2.1 Collateral. Security and Collateral required in Section 1.7 herein, as security for
the performance by Developer of its obligations under this Agreement, shall be in the total
amount of 5790,490.00. The Developer shall obtain collateral in such form acceptable to the
County ("Collateral") prior to issuance of the Grading Permit, as specified in attached Exhibit.
"B" .
2.2 Partial Release of Collateral. Developer may apply to the County for the release
of portions of the Collateral based upon the work completed in accordance with this Agreement.
To make such releases, Developer shall request the County Engineer to inspect the work in
order to verify satisfactory completion in accordance with plans and specifications in accordance
with Section 1.6.
4
2.3 Final Release of Collateral/Warranty. Within thirty (30) days after Developer has
completed all of the work required by this Agreement and the work has been approved and
accepted by the County, the entire remaining amount of the Collateral, less an amount equal to
ten percent (10%) of the original Collateral, shall be released. Developer shall be responsible for
the condition of the Public Improvements for a period of two (2) years after completion; this
shall be guaranteed either through the retention of Collateral, as set forth above, or Developer
may provide a guarantee bond in an amount and in a form acceptable to the County - which
would be substituted for the release of the entire amount of the Collateral.
2.4 Substitution of Collateral. The Developer may at any time substitute the
Collateral originally deposited with the County herein, for another form of collateral acceptable
to the County, to guarantee the faithful completion of the Public Improvements referred to herein
and the performance of the terms of this Agreement. At the time of substitution of collateral, an
inflationary and/or deflationary factor based upon the Denver-Boulder, Colorado Consumer
Price Index for All Urban Consumers, All Items (1967=100) published by the U.S. Bureau of
Labor Statistics, 303-837-2467, or, alternatively, an approved construction cost index, shall be
used to determine an adjusted estimated cost for all Public Improvements as described herein,
and collateral shall be submitted by the Developer in accordance therewith.
2.5 Draws. Draws against the Collateral shall only be made as directed by written
Resolution of the County, stating that there has been an event of default under this Agreement
and that a sum certain is required to remedy the default. Any amount drawn on the Collateral
must be applied for the purpose of completing the work required by this Agreement and related
expenses and costs.
2.6 Events of Default. The following events shall be deemed "Events of Default,"
entitling the County to draw on the Collateral:
2.6.1 If Developer has not completed the work required by this Agreement
within thirty (30) days prior to the Date of Completion set forth herein, the County may,
after ten (10) working days written Notice to Developer, draw upon the Collateral an
amount sufficient to complete said work and compensate the County for its reasonable
costs and expenses related to said draw.
2.6.2 If the original collateral presented to the County (or any extension thereof)
is due to expire and the work is not yet completed, and Developer has not provided
substitute collateral or the bank's written extension to the original collateral (as it may
have been previously extended), the County shall draw on the Collateral according to the
provisions set forth in this Section 2. It is Developer's responsibility, with or without
notice, to ensure that the Collateral is extended, or that substitute collateral isfprovided in a form acceptable to the County, at least ten days prior to its expiration.
If Collateral is neither extended nor substitute collateral provided, in a form
acceptable to the County, at least ten days prior to its expiration, the Developer shall
pay the County an additional $500 (Five hundred dollars) for the additional
administrative work required because of the failure to extend or substitute
collateral in a timely manner as required by this agreement.
5
2.6.3 If the Collateral is substituted, as otherwise provided herein, this
Agreement may be amended or modified in order to set forth specific Events of Default
deemed necessary, in the County's sole discretion, commensurate with the type of
collateral substituted.
2.7 Costs and Expenses. Developer agrees to pay any costs and expenses, including
but not limited to legal fees, which the County may incur in determining to accept collateral, in
drawing upon the collateral, or in accomplishing an extension of its expiration.
2.8 Landscape Plan Collateral
2.8.1 Developer agrees to provide collateral in a form acceptable to the County
Attorney to ensure landscaping will be installed. Developer agrees to provide for no less
than one hundred and twenty-five (125) percent of the estimated cost of the landscaping
improvements listed in the Landscaping Plan.
2.8.2 As portions of the landscape improvements are completed, the Eagle
County Engineer shall inspect them, and upon approval and acceptance, shall authorize
the release of the agreed estimated cost for that portion of the improvements, except that
the ten (10) percent shall be withheld until all proposed improvements are completed and
approved, and an additional twenty-five (25) percent shall be retained until the
improvements have been maintained in a satisfactory condition for two (2) years.
3. INSURANCE and INDEMNIFICATION
3.1 Certificates of Insurance. The Developer shall secure from any contractor or
subcontractor engaged in the work necessary to comply with this Agreement a Certificate of
Insurance providing for liability protection in the minimum amount of $150,000 per individual
and $600,000 per occurrence, naming the county as an additionally named insured. The
Developer, if it serves as the contractor for the Public Improvements, shall provide insurance in
the same form and amounts as required of the general contractor. Said limits shall be adjusted to
comply with any changed limits in the Colorado Governmental Immunity Act, Title 24, Article
10, Colorado Revised Statutes.
3.2 County Incurs No Liability. The 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 Beaver Creek Landing Roundabout or Public Improvements specified in this
Agreement prior to the completion and acceptance of the same; nor shall the County, nor any
officer or employee thereof, be liable for any persons or property injured or damaged by reasons
of the nature of said work on the Public Improvements, but all of said liabilities shall be and are
hereby assumed by the Developer. The Developer hereby agrees to indemnify and hold harmless
the County and any of its officers, agents and employees against any losses, claims, damages or
liabilities for which the County or any of its officers, agents, or employees may become subject
to, insofar as any such losses, claims, damages or liabilities (or actions in respect thereof) arise
out of or are based upon any performance by the Developer hereunder; and the Developer shall
reimburse the County for any and all legal and other expenses incurred by the County in
6
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 the Developer may have.
4. GENERAL PROVISIONS
The following shall apply to all Public Improvements, including off-site improvements, set forth
in this Agreement:
4.1 Compliance with Land Use Regulations. The Developer shall be required to
obtain all necessary permits and comply with the provisions of the Land Use Regulations,
including but not limited to the Regulations for Construction within the Public Ways of Eagle
County (Chapter V), as the same are in effect at the time of commencement of construction of
the Public Improvements referred to herein.
4.2 Public Improvement Agreement Controls. In the event of any inconsistency or
incongruity between the provisions of this Agreement and the Land Use Regulations, the
provisions of this Agreement shall in all respects govern and control.
4.3 Warranties and Guarantees. There shall be a two-year correction period, or such
longer period as may be prescribed by law, from the time of completion of the Public
Improvements during which time the Developer shall promptly correct or remove and replace, in
accordance with the County's written instructions, defective work or materials and consequences
thereof. Repair or replacement made under the two-year correction period shall bear an
additional one-year correction period from the acceptance of the repair or the replacement by the
Eagle County Engineer. The work shall be collateralized during the correction period in an
amount and type of collateral as shall be reasonably determined by the County. The work shall
be inspected, at the request of the Developer no less than sixty (60) days prior to expiration of
the one-year additional correction period, and any deficiencies shall be noted to the Developer.
4.4 Approval of Grading Permit. The County agrees to the approval of the Beaver
Creek Landing Roundabout Grading Permit, File No. MI-11973, subject to the terms and
conditions of this Agreement.
4.5 Amendment and Modification. The parties hereto mutually agree that this
Agreement may be amended or modified from time to time, provided that such amendment or
modification be in writing and signed by all parties hereto.
4.6 Assignability. This Agreement shall be enforceable against the Developer,
provided, however, that in the event the Developer sells, transfers or assigns all or part of the
subject property, the obligations of the Developer under this Agreement as to that portion of the
subject property may be assumed in writing by the purchaser of the parcel, and the Developer
shall have no further obligations hereunder. It is agreed, however, that no such assumption of
these obligations shall be effective unless the county gives its prior written approval to such
assumption following an investigation of the financial condition of the purchaser. The
Developer shall not otherwise assign, transfer, convey, pledge or otherwise dispose of this
Agreement without prior written consent of the County, which consent shall not be unreasonably
withheld.
7
4.7 Binding upon Successors. This Agreement shall inure to the benefit of and be
binding upon the parties hereto, their respective successors, and assigns.
4.8 Sole Responsibilitv of Developer Prior to County Acceotance. It is further agreed
and understood that at all times prior to the completion and acceptance of the Public
Improvements set forth herein by the county, each of said improvements not accepted as
complete shall be under the sole responsibility and charge of the Developer. When it is
necessary to allow the general public to utilize the roadways under construction by the
Developer, traffic control and warning devices shall be placed upon such roadways by the
Developer in accordance with the Manual on Uniform Traffic Control Devices for Streets and
Highways as prepared by the U.S. Department of Transportation, Federal Highway
Administration.
4.9 No Rights to Third Parties. This Agreement does not and shall not be deemed to
confer upon or grant to any third party any right to claim damages or to bring any lawsuit, action
or other proceedings against either the County or its officers, employees or agents because of any
breach hereof or because of any terms, covenants, agreements or conditions contained herein.
4.10 Notice. Notice required pursuant to the terms of this Agreement shall be deemed
given on the day that the same is placed in the United States Mails, postage prepaid, certified or
registered mail, return receipt requested.
4.11 Enforcement and Attomev Fees. The County may enforce the provisions of this
Agreement in the same manner and with the same remedies applicable to the enforcement of
land use regulations pursuant to the Eagle County Land Use Regulations, as they maybe
amended from time to time, or as otherwise provided by law. Alternatively, the terms of this
Agreement may be enforceable by the Board or its designee by any appropriate equitable or legal
action, including but not limited to specific performance, mandamus, abatement, or injunction.
The remedies explicitly provided herein are cumulative, and not exclusive, of all other remedies
provided by law. The prevailing party in any action brought pertaining to this Agreement shall
be entitled to an award of costs and reasonable attorney's fees.
8
IN WlllffiSS WHEREOF, the parties hereto have executed this Agreement this q~
day of IV au . . 2004.
ATTEST:
COUNTY OF EAGLE, STATE OF COLORADO,
By and Through its
BOARD OF COUNTY COMMISSIONERS
~,~.
Tom C. Stone, Chauman
Address for giving notice:
P.O. Box 850
Eagle, CO 81631
(970) 328-8685
Clerk to the Board of
County Commissioners
DEVELOPER:
Vail Resorts Development Company
By:
~,c:k
:et..o.~d . tY\a.c.C.uro,hebN
Address for giving notice:
P.O. Box 959
Avon, CO 81620
STATE OF COLORADO )
) SS
County of Eagle )
~/l~
Notary Public ~
9
--....
"
Beaver Creek Landing
Engineer's Opinion of Probable Construction Costs
October 8, 2004
n~~~~INE
---. ...
ENGINEERING INC
ITEM DESCRIPTION UNIT QUANTITY UNIT PRICE TOTAL
1 T rafflc Control LS 1 $ 12,500.00 $ 12,500.00
2 Erosion Control LS 1 $ 2,250.00 $ 2,250.00
EARTHWORK
1 MilVPulverize Existing Asphalt Platform SF 18,300 $ 0.75 $ 13,725.00
2 Structural Road Platform Fill TN 2,380 $ 16.00 $ 38,080.00
3 Stte Earthwork Excavation and Haul Off CY 3,544 $ 1.50 $ 5,316.00
4 Remove and Haul Off Existing Curb and Sidewalks LS 1 $ 2,450.00 $ 2.450.00
5 MSE Boulder Faced Retaining Wall (ExDOsed Face) SF 352 $ 31.00 $ 10,912.00
6 Topsoil Placement and Gradina (DeDth Varies) CY "1010 $ 3.00 $ 3,030.00
7 Plantina Bed Topsoil CY 260 $ 22.00 $ 5,720.00
8 Re-vegetation AC 0.53 $ 2,100.00 $ 1,113.00
SUBTOTAL $ 80,346.00
STORM DRAINAGE $ -
1 1 A' Wide Dralnaae Ditch (wI Erosion Control Mat) LF '550 $ 40.00 $ 22,000.00
2 5.0' Type 13 Curb Inlet Frame & Grate (with sump) EA 2 $ 2,800.00 $ 5,600.00
3 7.6' Type C Inlet with Lid & MH Frame and Solid Lid EA 1 $ 3,200.00 $ 3,200.00
4 5.0' Tvpe C Inlet with Lid & MH Frame and Solid Lid EA 1 $ 3,100.00 $ 3,100.00
5 5.0' Type C Inlet with Close Mesh Grate EA 2 $ 2,900.00 $ 5,SOO.00
6 3.0' Type C Inlet with Close Mesh Grate EA 1 .$ 2,900.00 $ 2,900.00
7 5.5' Type D Inlet with Close Mesh Grate EA 1 $ 3,700.00 $ 3,700.00
8 5.0' Type D inlet Riser with Lid & MH Frame/Solid Lid EA 1 $ 2,800.00 $ 2,SOO.00
9 4.5' TYpe D inlet Riser with Lid & MH Frame/Solid Lid EA 1 $ 2,800.00 $ 2,800.00
10 3.0' Type D inlet Riser with Lid & MH Frame/Solid Lid EA 1 $ 2,500.00 $ 2,500.00
11 2.5' TYDe Rlnlet EA 1 $ 4,500.00 $ 4,500.00
12 2' x 4' Barrel Section wI SteDs, Re-use Exist.Grate EA 1 $ 1,500.00 $ 1,500.00
13 12" CMP LF 22 $ 2S.oo $ 616.00
14 is" CMP FES EA 2 $ 500.00 $ 1,000.00
15 is" RiDrap Outfall Protection EA 1 $ 600.00 .$ 600.00
16 is" CMP LF 2S0 $ 31.00 $ S,680.oo
17 24" CMP LF 276 $ 40.00 $ 11,040.00
SUBTOTAL $ 82,336.00
SITE CONCRETE FLATWORK $ -
1 Remove I Replace Core 10 Guardrail LF 300 $ 49.00 $ 14,700.00
2 Core 10 Guardrail LF 20 $ 65.90 $ 1,318.00
3 Remove I ReDlace I Guardrail End Section LS 1 $ 1 ,550.00 $ 1,550.00
4 Concrete ADA Ramp EA 1 $ 600.00 $ 600.00
5 48" Concrete Pan LF 152 $ 25.00 $ 3,800.00
6 30" Mountable Curb and Gutter LF 2393 $ 21.00 $ 50,253.00
7 30" Mountable Curb and Gutter (Colored) LF 355 $ 22.00 $ 7,810.00
8 6" to 9" Roundabout Ctr Island Apron CY 22 $ 490.00 $ 10,780.00
9 6" Roundabout Island Border Apron CY 9 $ 480.00 $ 4,320.00
10 5" Tinted, Stamped, Concrete wI Wirsbo Tubing CY 145 $ 490.00 $ 71,050.00
SUBTOTAL $ 166,181.00
SHALLOW UTILITIES $ -
1 BCMD Village Lights and Bases EA 9 $ 3,800.00 $ 34,200.00
" EXHIBIT
l" I?r
.,--,.' ,
" '
UNIT
LF
LF
LF
QUANTITY U.._. .)RlCE
425 $ 2.00 $
200 $ 2.00 $
400 $ 5.00 $
$
LF
TON
SF
TON
TON
TON
TON
LF
i.
LS
EA
EA
LF
EA
LS
, ยท ITEM DESCRIPTION
2 2" Electric Conduit
3 1" Phone Conduit
4 Misc. Conduit
SUBTOTAL
ROADWAY PLATFORM AND PAVING
1 Grading for 6' Rec Path
2 Base Course 6' Rec Path (3" depth)
3 2" -3" Milling
4 Base Course Under Sidewalks
5 Base Course for Road Platform
6 2" Asphalt Overlay
7 Asphalt Roadway Leveling & Patch (4"Depth in 2 Lifts
8 24" Gravel Shoulder
SUBTOTAL
MISC. CONSTRUCTION
1 Fire HYdrant Riser (2') at exist PRV Vault
2 Water Valve Riser (2') at exist PRV Vault
3 Electronic Gates and Bases
4 1" Sensor Wire Conduits
5 Signage
6 Striping
SUBTOTAL
SUBTOTAL CONSTRUCTION COSTS
SOIL TESTING
CONSTRUCTION SURVEYING
DRECORD DOCMENT" SURVEYING
CONSTRUCTION ADMINSTRATION
CONSTRUCTION COSTS
10% CONTINGENCY
TOTAL CONSTRUCTION COSTS .
LANDSCAPING
Fine Grading
Landscape Boulders (2' to 4' av moss/rock)
Spruce Trees (10' High)
Spruce Trees (12' High)
Spruce Trees- (14' High)
Aspen (2" Caliper)
Aspen (2.5" Caliper)
Shrubs (#5 Container)
Sod Lawn
Perennials and Groundcovers (#4 Pots)
Steel Edger
Bark Mulch - Soil prep 1-3" thick
Irriaation System
Native Grass Seed Mix
LANDSCAPING
25% Contingency
TOTAL LANDSCAPING
GRAND TOTAL
SF
EA
EA
EA
EA
EA
EA
EA
SF
EA
LF
SF
SF
ACRE
390
44
1000
200
1076
710
1217
870
1
4
2
60
29
1
12000
75
40
25
15
47
27
175
12000
800
1000
5000
12000
0.5
$
$
$
$
$
$
$
$
6.00 $
16.00 $
0.20 $
16.00 $
16.00 $
44.00 $
55.00 $
1.20 $
$
$ 800.00 $
$ 400.00 $
$ 20,000.00 $
$ 1.00 $
$ 950.00 $
$ 2,500.00 $
$
$
$
$
$
$
$
$
$
$ 0.20 $
$ 80.00 $
$ 500.00 $
$ 600.00 $
$ 800.00 $
$ 125.00 $
$ 150.00 $
$ 30.00 $
$ 0.65 $
$ 7.00 $
$ 3.00 $
$ 0.70 $
$ 0.90 $
$ 2,200.00 $
$
$
$
$
Q:J~
T..u./I~;.. ~
--tel ~. ~ h
~2~~. _0.
L~~
, ...{(/ . I
.,../t; Y
.Q ~~~~ I~_i'-t?
TOTAL
850.00
400.00
2,000.00
37,450.00
2.340.00
704.00
200.00
3.200.00
17.216.00
31.240.00
66.935.00
1.044.00
122,879.00
800.00
1.600.00
40.000.00
60.00
27.550.00
2.500.00
72,510.00
576,452.00
6,000.00
8,640.00
2,100.00
9,100.00
602,292.00
60.229.00
662,521.00
2,400.00
6.000.00
20,000.00
15.000.00
12.000.00
5.875.00
4,050.00
5,250.00
7.800.00
5,600.00
3,000.00
3,500.00
10,800.00
1,100.00
102,375.00
25,594.00
127,969.00
790,490.00
-....... ......v. .... -~
, .
PAGE: 1
DATE: OCTOBER 18, 2004
IRREVOCABLE STANDBY LETTER OF CREDIT NUMBER: 3066156
BENEFICIARY
BOARD OF COUNTY COMMISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
500 BROADWAY
EAGLE, CO 81631
APPLICANT
THE VAIL CORPORATION
137 BENCHMARK ROAD
AVON, CO 81620
AMOUNT
USD 790,490.00
SEVEN HUNDRED NINETY THOUSAND FOUR
HUNDRED NINETY AND 00/100'S US
DOLLARS
EXPIRATION
JULY 31, 2005 AT OUR COUNTERS
WE HEREBY ESTABLISH IN YOUR FAVOR OUR IRREVOCABLE STANDBY LETTER OF
CREDIT WHICH IS AVAILABLE WITH BANK OF AMERICA, N.A. BY PAYMENT .
AGAINST PRESENTATION OF THE ORIGINAL OF THIS LETTER OF CREDIT AND
YOUR DRAFTS AT SIGHT DRAWN .ON BANK OF AMERICA, N .A., ACCOMPANIED BY
THE DOCUMENT DETAILED BELOW:
A SIGNED STATEMENT BY THE BENEFICIARY STATING THE FOLLOWING:
l)uTHERE HAS BEEN A DEFAULT IN THE CONSTRUCTION OF BEAVER CREEK
LANDING BUS DROP-OFF AND ROAD RIGHT OF WAY IMPROVEMENTS REQUIRED BY
THE COUNTY OF EAGLE, STATE OF COLORADan.
2) UTHE AMOUNT DRAWN IS REASONABLY REQUIRED TO REMEDY THE DEFAULT. n
WE HEREBY ENGAGE WITH YOU THAT DRAFT (S) DRAWN UNDER AND IN COMPLIANCE
WITH THE TERMS OF THIS LETTER OF CREDIT WILL BE DULY HONORED UPON
PRESENTATION TO US AT 333 SOOTH BEAUDRY AVENUE, 19TH FLOOR, MAIL
CODE: CA9-703-19-23, LOS ANGELES, CA 90017 ATTN: STANDBY LETTER OF
CREDIT DEPARTMENT ON OR BEFORE THE EXPIRATION DATE.
THIS LETTER OF CREDIT IS SUBJECT TO THE INTERNATIONAL STANDBY
PRACTICES 1998, ICC PUBLICATION NO. 590.
IF YOU REQUIRE ANY ASSISTANCE. OR HAVE ANY QUESTIONS REGARDING THIS
TRANSACTION, PLEASE CALL 213-345-0135.
~.I/A bi
------ -------_: ---------
AOTHO ZED SI~
THIS DOCUMENT CONSISTS OF 1 PAGE(S).
STElLA ROSALES
EXHIBIT
I .. ~B(>' ..
