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HomeMy WebLinkAboutC05-223 Kummer Development Corporation Public Improvements Agreement First Amendment /l__ ~- - II III II II C III II III 1111 924972 Page: 1 of 11 08/03/2005 04: 161 Teak J Simonton Eagle, CO 23 R 0.00 o 0.00 FIRST AMENDMENT TO PUBLIC IMPROVEMENTS AGREEMENT FOR FROST CREEK PUD ROADWAY GRADING PERMIT NO. MI-12007 File No. PDF-12007 THIS FIRST AMENDMENT to the Public Improvements Agreement for Prost Creek PUD Roadway Gradi~t No. MI-12007 (hereinafter "Prost Creek") is entered into this ~ day 0 , 05, by and between the Board of County Commissioners of the County of Eagle, State of Colorado (hereinafter "County") and Kummer Development Corporation (hereinafter "Developer"). WITNESSETH WHEREAS, Developer and County entered into a Public Improvements Agreement for Prost Creek PUD Roadway Grading Permit No. MI-12007 on May 31, 2005 to permit additional construction activities on the Prost Creek project site (hereinafter "Agreement"); and WHEREAS, Section 1.7 of the Agreement provided that the estimated cost of the Public Improvements was the sum of$2,441,308.21; and WHEREAS, Developer provided to the County WestStar Bank Letter of Credit No. 838 in the amount of$2,441,308.21 as security for the performance by the Developer of its obligations under the Agreement; and WHEREAS, on June 30, 2005, the Grading Permit No. MI-12007 was amended to permit additional construction activities on the Prost Creek project site. The Eagle County Engineering Department has determined that with the amendment of the grading permit, the scope of work has been increased as outlined in the Preliminary Engineer's Estimates for the Town of Eagle Water Line, Prost Creek Water Line, and Prost Creek Bike Path. The additional amount of collateral required and identified by the Eagle County Engineering Department is $4,444,010.98 and as amended, the total amount of collateral required for the Prost Creek project is now $6,885,319.19 (see Exhibit "A" attached hereto and incorporated herein by this reference); and WHEREAS, Developer has provided to the County WestStar Bank Letter of Credit No. 841 in the amount of $4,444,010.98 as additional security in a form acceptable to the County Attorney; and WHEREAS, Section 4.5 of the Agreement provides 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"; and b>~ ):13 - . WHEREAS, the County and Developer desire to amend the Agreement to reflect the additional amount of collateral required. AGREEMENT I. Section 1.7 of the Agreement is hereby amended to read as follows: Estimated Cost of Public Improvements. The estimated cost of the Public Improvements is the sum of$6,885,319.19, as summarized in Exhibit "A." To secure and guarantee performance of its obligations as set forth in this Section I, 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." 2. Section 2.1 of the Agreement is hereby amended to read as follows: 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 $6,885,319.19. The Developer shall obtain collateral in such form acceptable to the county ("Collateral") prior to approval of the Frost Creek PUD Roadway Grading Permit, File No. MI-12007 as specified in attached Exhibit "B." 3. All other terms and conditions of the Public Improvements Agreement for Frost Creek PUD Roadway Grading Permit File No. MI-12007 shall remain in full force and effect. IN WITNESS WHEREOF, the parties hereto have executed this First Amendment the day and year first above written. COUNTY: ~ ~y~~ Teak J. Simonton Clerk to the Board of County Commissioners 2 DEVELOPER: KUMMER DEVELOPMENT :~~ // / / / By: __ \ D. ununer, President State of Colorado ) ) ss: County of Eagle ) The foregoing was acknowledged before me day of 2005, by Fred D. Kummer as President of Kummer Development. Witness my hand and official seal. My commission expires My ConIlI~1 ExpIres Feb. G:VKS\FIRST AMENDMENT TO SIA.doc 3 MEMORANDUM EAGLE COUNTY ENGINEERING TO: Janice Scofield, Attorney's Office FROM: Phillip M. Bowman, Engineering f~~- 7,!.t?r DATE: July 1,2005 RE: Grading Permit MI-12007, Frost Creek On June 30,2005, Grading Permit MI-12007 was amended to permit additional construction activities on the Frost Creek project site. The original approval ofthe grading permit included a Public Improvements Agreement recorded at Reception No. 917945, with collateral in the amount of$2,441,308.21 received by Eagle County in a Letter of Credit. With the amendment of the grading permit, the scope of work has been increased as outlined in the Preliminary Engineer's Estimates for the Town of Eagle Water Line, Frost Creek Water Line, and Frost Creek Bike Path as attached to this memo. The additional amount of collateral identified in these estimates is $4,444,010.98. An original Letter of Credit in this amount is also attached to this memo. As amended, the total amount of collateral for this project is now $6,885,319.19. Please amend the Public Improvements Agreement as necessary to include the additional scope of work and collateral amount. If you have any questions, please call me at 328-3560. xc: Helen Migchelbrink, County Engineer Chrono/file EXHIBIT ~ .D i ( *WestStar Bank EXPECT ACTION IRREVOCABLE LETTER OF CREDIT WestS tar Bank 0015 Benchmark Road, P. O. Box 3219 Avon, CO 81620 Irrevocable Letter of Credit Date 6/30/05 Number: 84 I June 30, 2005 Board of County Commissioners County of Eagle State of Colorado P. O. Box 850 Eagle, Colorado 81631 To Whom It May Concern: We hereby open our Irrevocable Letter of Credit in your favor, available by draft at sight drawn on WestS tar Bank for any sum or sums not exceeding in total the sum of $4,444,0 10.98 For account of Kummer Development Corporation, P.O. Box 659, Eagle Colorado 81631, in reference to WestStar Bank Borrowers' HBE Corporation. For the purpose of guaranteeing construction of public improvements required by the County of Eagle, State of Colorado, pursuant to that certain Grading Permit #MI-12007 dated April 25, 2005, and the Public Improvements Agreement between County of Eagle, Colorado, Kummer Development Corp, relative to Frost Creek P.U.D. Subdivision. Each draft drawn on WestStar Bank sight shall be endorsed on the reverse side or this Letter of Credit and bear upon its face "Drawn under Letter of Credit Number 841, dated June 30, 2005, of WestS tar Bank." And shall be accompanied by a Resolution of the Board of County Commissioners of Eagle County certifying: 1) that there has been a default under the Subdivision Improvements Agreement and 2) that a sum certain is required to remedy the default. WestStar Bank agrees with the drawers, endorsers and bonafide holders of drafts drawn and negotiated in compliance with terms of this Letter of Credit that such drafts will be duly honored upon due presentation at the counter of this bank. WestStar Bank represents and warrants to the County of Eagle that it has the full authority and power to issue this Letter of Credit to the County of Eagle, State of Colorado, in the total amount and for the period of time stated herein; said authority being pursuant to the laws of the United States, or the State or territory which governs the establishment and regulation of WestS tar Bank charter, by-laws and other applicable rules and regulations adopted pursuant thereto. Should it be necessary for the County of Eagle to file suit in an effort to enforce this irrevocable Letter of Credit, WestS tar Bank hereby waivers all venue rights and submits to the jurisdiction of the District Court in and for the County of Eagle, State of Colorado. All drafts hereunder must be drawn on or before June 30, 2006. PO BOX 3119 0015 BENCHMARK ROAD AVON, CO 81620 Letter of Credit #841 Page 2 Suj~ UUr WestStar Bank Dan Godec President Avon I WestStar Bank PRELIMINARY ENGINEER'S ESTIMATE PROJECT NAME: AdamS..~!l?f~~~.C;~!;.<;t~, U .0. ~~~~'fi~agie'Wa~'l1iri~ JK Job# EA05009 DATE :6-24-2005 ITEM NO. DESCRIPTION EST QTY UNIT UNIT PRICE AMOUNT REMARKS GENERAL Bonds and Insurance 1.00 LS. $35,000.00 $35,OOa:00 Mobilization 1.00 LS. $25,000.00 $25,000.00 -- Site Cleanup 1.00 LS. $5,000.00 $5,000.00 Demobilization 1.00 LS. $5,000.00 $5,000.00 Traffic Control 1.00 LS. $5,000.00 $5,000.00 TOTAL - GENERAL $75,000.00 TREATED WATER CONSTRUCTION TOWN OF , EAGLE Tap into existing Town Main Line at Water Plant 1.00 LS. $2,000.00 $2,000.00 Water Trench - Main 24" (6' - \0' depth) (Excavate, Bedding, Backfill, Compact) 10,234.00 LF $54.36 $556,320.24 Water Main, DIP - 24" (poly wrapped) 10,234.00 LF $47.26 $483,658.84 "- Gate Valve, DIP - 24" (with barrel and lid) 8.00 EACH $3,019.23 $24,153.84 ,- Bends, DIP 24".45 deg 6.00 EACH $837.33 $5,023.98 Bends, DIP 24" - 22-1/2 deg 5.00 EACH $872.88 $4,364.40 Bends, DIP 24" - 11-1/4 deg 1.00 EACH $775.46 $775.46 Reducer, DIP 24"x 14" 2.00 EACH $300.00 $600.00 ,- Gate Valve, DIP -14" (with barrel and lid) 5.00 EACH $1,164.18 $5,820.90 Gate Valve, DIP -8" (with barrel and lid) 2.00 EACH $622.56 $1,245.12 Tap into existing Town Main Line North End 1.00 LS. $5,000.00 $5,000.00 -- Air Release / Vacuum (ARV) Vault, Precast Concrete _ 48" diameter 3.00 EACH $1,360.00 $4,080.00 Air Release / Vacuum (ARV) Valve Assembly 3.00 EACH $436.04 $1,308.12 Clear and Grub 10' swath 2.34 ACRES $1,500.00 $3,510.00 Topsoil Removal & Stockpile I' depth 3,789.00 CY. $2.50 $9,472.50 Topsoil Placement 3,789.00 CY. $3.50 $13,261.50 Revegetation 2.34 ACRES $2,500.00 $5,850.00 . ",,1 t.,-, , ,:.' ~""" Fire Hydrant Blow Off Assembly 1.00 EACH $1,500.00 $1,500.00 II ,..", 'il5~ I '- Sf 1""", Fire Hydrant Assembly 12.00 EACH $1,500.00 $18,000.00 I / ..' . \,~~ 'II'"::' ' · ".. ~......... ", '" l1 ' ~ , Q ;;r Fire Hydrant Guard Valve, DIP - 6" 12.00 EACH $450.00 $5,400.00 I / ~ l;;;j"" ."J10 /. :~.o.. ... 1 Cl . ..I III, """ Tee, DIP 24" x 6" 12.00 EACH $936.53 $11,238.36 V_ - - i/J' / vv rl ~ 't .... 0' ~ _ Tee, DIP 24" x 8" 2.00 EACH $900.00 $1,800.00 (~~-tij;;~5J.:j FROST CREEK P.U.D. I "" 1\)0. ..,A)- ~,' Town ofEagleWatet.l.fue ,.'.... p -"0" WO'. \.,..... ,,' , . ( tIl!'\\ '(. " ~ ;". ''(,i .." ITEM NO. DESCRIPTION EST QTY UNIT UNIT PRlCE AMOUNT REMARKS Tee, DIP 14"x 14" 2.00 EACH $700.00 SI,400.00 Fire Hydrant Lateral, DIP - 6" Trench/Pipe (polywrapped) 352.00 LF $21.74 S7,652.48 Mechanical Restrained Joint Crossings 200.00 LF S20.00 $4,000.00 DIP 8" Plug 1.00 EACH $400.00 $400.00 Water Trench - Main 8" (6' - 10' depth) (Excavate, Bedding, Backfill, Compact) 40.00 LF $12.25 $490.00 Water Main, DIP - 8" (poly wrapped) 40.00 LF $15.Q7 $602.80 Water Service Trench (6' - 10' depth) -- (Excavate, Bedding, Backfill, Compact) 2.00 EACH $915.00 $1,830.00 Water Service Line -I" copper 1.00 EACH $354.74 $354.74 Water Service Line -2" copper 1.00 EACH $400.00 $400.00 Water Service Curb Stop Valve (with barrel and marker) 2.00 EACH $249.75 $499.50 Water Main, Pressure Testing 1.00 LS $5,000.00 $5,000.00 Culvert 24" RCP 30.00 LF. $40.00 SI,200.00 24" RCP End Sections 2.00 EACH $150.00 $300.00 Culvert 36" Extension 40.00 LF. $50.00 S2,OOO.00 36" End Section 1.00 EACH S300.00 $300.00 TOTAL - TREATED WATER CONSTRUCTION TOWN OF EAGLE $1,190,8lZ.78 TOTAL GENERAL & WATER CONSTRUCTION COSTS $1,265,8lZ.78 INDIRECT COSTS Surveying-Engineering_ Testing-As-builts $151,897.53 TOTAL INDIRECT COSTS $151,897.53 TOTAL CONSTRUCTION & INDIRECT COSTS $1,417,710.31 10% CONTINGENCY $141,771.03 GRAND TOTAL $1,559,481.34 .,,\ .. FROST CREEK P.U.D. 2 Town of Eagle Water Line -- PRELIMINARY ENGINEER'S ESTIMATE PROJECT NAME: Adams Rib Frost Creek P.U.D. \'1l1~!i~~!t,~~~~!!t" JK Job#EA05009 DATE :6-27-2005 ITEM NO. DESCRIPTION EST QTY UNIT UNIT PRICE AMOUNT REMARKS '!X[q)P1~lVI) ~l GENERAL Bonds and Insurance 1.00 LS. $63,000.00 $63,000.00 II Mobilization 1.00 LS. $40,000.00 $40,000.00 JUN 2 9 2005 Site Cleanup 1.00 LS. $5,000.00 $5,000.00 Demobilization 1.00 LS. $5,000.00 $5,000.00 I TOTAL - GENERAL $113,000.00 ENGINEERING TREATED WATER CONSTRUCTION FROST CREEK Water Trench - Main 10" (6' - 10' depth) (Excavate, Bedding, Backfill, Compact) 8,000.00 LF. $13.35 $106,800.00 Trench Stabilization Material 1,600.00 CY. $30.00 $48,000.00 Water Main, DIP- 10" -- c- l(pOly wrapped) 8,000.00 LF. $18.91 $151,280.00 Bends, DIP 10" - 45 d~ 6.00 EACH $348.28 $2,089.68 Bends, DIP 10" - 22-1/2 deg 4.00 EACH $172.17 $688.68 Bends, DIP 10" - 11-1/4 deg 3.00 EACH $177.55 $532.65 Gale Valve, DIP. 10" (with barrel and lid) 14.00 EACH $900.81 $12,611.34 Gate Valve, DIP. 14" (with barrel and lid) 2.00 EACH $1,289.18 $2,578.36 TEE, DIP 14" x 14" x 8" 1.00 EACH $581.30 $581.30 TEE, DIP 10" x 10" x 8" 3.00 EACH $303.82 $911.46 Reducer, DIP 10"x 6" 1.00 EACH $86.20 $86.20 Reducer, DIP lO"x 14" 1.00 EACH $135.00 $135.00 Insulate water Main (4" riRid for 20 LF.) 2.00 EACH $239.80 $479.60 BACKLOT 10" Clear and Grub 10' swath 0.51 ACRES $2,500.00 $1,275.00 T~soil Removal & Stockpile I' depth 819.00 CY. $3.50 $2,866.50 Backlot Water Trench - Main 10" (6' - 10' depth) (Excavate, Bedding, Backfill, Compact) 2,210.00 LF. $14.45 $31,934.50 -- BackIot Water Main, DIP . 10" [(poly wrapped) 2,210.00 LF. $18.91 $41,791.10 Topsoil Placement 819.00 CY. $5.00 $4,095.00 Revegetation 0.51 ACRES $2,000.00 $1.020.00 Wet Tap to Existing Main 14" 1.00 EACH $2,000.00 $2,000.00 1"1,.1' lit lr, hI f "l~ RtGI 1'].:', Water Trench - Main 8" (6' - 10' depth) (Excavate, ," ~ ~..eo. ~,,, '~~ ceo:. Beddi'!!k Backfill, Co~cl) 25,711.00 LF. $12.25 $314,959.75 S Q<<! S. "111< Ii ;~ 0 .'. Conunon Water Trench - Main 8" (6' - 10' depth) .. c::::. . <v (Excavate, Bedding, Backfill, Compact) 460.00 LF. $16.75 $7,705.00 .. c:..:, :;'d I. .. c" ~, 9' ., Water Main, DIP - 8" ~Z iU' .' 'J; (poly wrapped) 26,171.00 LF. $15.62 $408,791. 02 Bends, DIP 8" - 45 deg 30.00 EACH $180.37 $5,411.10 , · jJ';J , e l!l'''' Bends, DIP 8" - 22-1/2 deg 27.00 EACH $155.82 $4,207.14 t., .'411. . .. ~ ......... Bend~,D1P 8" - 11-1/4 dt:g - EACH $0.00 $0.00 ... .... "........ .~.~~ ". ,,-' ''!"~,, A f '{ ,-", FROST CREEK P.U.D. J -<("_' ' .. _ \ \ \ " , /1'll'" tt...'.1 \ F~st.CreekWater'~ I -, .,'"<' ITEM NO. DESCRIPTION EST Q1Y UNIT UNIT PRICE AMOUNT REMARKS Gate Valve, DIP . 8" (with barrel and lid) 62.00 EACH 5622.56 538,598.72 TEE, DIP 8" x 8" x 10" 5.00 EACH 5303.82 51,519.10 TEE, DIP 8" x 8" x 8" 7.00 EACH 5284.98 5 I ,994.86 Reducer, DIP 8"x 6" 6.00 EACH $77.16 5462.96 Insulate water Main (4" rilrid for 20 LF.) 8.00 EACH 5224.1 I 51,792.88 Water Main Plug, DIP . 6" 1.00 EACH 591.19 591.19 BACKLOT 8" Clear and Grub 10' swath 0.63 A CRES 51,500.00 5945.00 Topsoil Removal & Stockpile I' depth 1,018.00 C Y. 53.50 $3,563.00 Backlot Water Trench - Main 8" (6' - 10' depth) (Excavate, Beddinl(. Backfill, Compact) 2,749.00 LF. 514.10 538,760.90 Bacldot Water Main, DIP. 8" (poly wrapped) 2,749.00 LF. 515.62 542,939.38 Topsoil Placement 1,018.00 CY. 55.00 55,090.00 Revegetation 0.63 ACRES 52,000.00 51,260.00 Cut New Tee 14" 1.00 EACH 52,000.00 52,000.00 r----- Fire HYdrant Assembly 82.00 EACH 51,665.78 $136,593. 96 Fire Hydrant Guard Valve, DIP. 6" 82.00 EACH $743.52 $60,968.64 Tee. DIP 10" x 6" 15.00 EACH 5306.54 54,598.10 Tee, DIP 8" x 6" 67.00 EACH 5278.22 518,640.74 Fire Hydrant Lateral, DIP . 6" TrenchlPipe I d) 1,832.00 LF. 528.48 552,175.36 Air Release / Vacuum (ARV) Vault, Precast Concrete _ 48" diameter 16.00 EACH 51,360.00 521,760.00 Air Release / Vacuum (ARV) Valve Assembly 16.00 EACH $436.04 56,976.64 PR V Vault, Precast Concrete 4.00 EACH 519,478.00 577,912.00 PRV Reliefvalve Assembly 4.00 EACH $1,860.00 $7,440.00 Water Service Trench (6' - 10' depth) (Excavate, Bedding, Backfill, Compact) 96.00 EACH 5915.00 587,840.00 Water Service Line -2" CQJlJJer (< 60LF.) 96.00 EACH 5354.74 534,055.04 Water Service Curb Stop Valve (with barrel and marker) 96.00 EACH 5249.75 523,976.00 Pump Station Install Only 1.00 LS. 525,000.00 525,000.00 Water Main, Pressure Testing 1.00 LS. 57,500.00 57,500.00 TOTAL. TREATED WATER CONSTRUCTION FROST CREEK 51,857,284.85 TOTAL GENERAL & WATER CONSTRUCTION 51,970,284.85 INDIRECT COSTS Surveying-Engineering_ T estlng-As-builts 5236,434.18 TOTAL INDIRECT COSTS 5236,434.18 TOTAL CONSTRUCTION & INDIRECT COSTS 52,206,719.03 -. 10% CONTINGENCY 5220,671.90 GRAND TOTAL 52,427,390.94 FROST CREEK P.U.D. Frost Creek Water Line 2 PRELIMINARY ENGINEER'S ESTIMATE m' "'" ~ PROJECT NAME: Adams Rib Frost Creek P.U.D. 01) &il J ~ I;:J;: I ~\V/ J'!!J Bike Path ~r JUN 3 0 2005 _ JK Job# EA05009 DATE :6-17-2005 Revised:6-29-2005 ENGINEERING ITEM NO. DESCRIPTION EST QTY UNIT UNIT PRICE AMOUNT REMARKS GENERAL Bonds and Insurance 1.00 LS. $10,000.00 $10,000.00 Mobilization 1.00 LS. $20,000.00 $20;000.00 Site Cleanup 1.00 LS. $2,500.00 $2,500.00 "-- Demobilization 1.00 LS. $2,500.00 $2,500.00 Traffic Control 1.00 LS. $2,500.00 $2,500.00 TOTAL - GENERAL 537,500.00 ._-- BIKE PATH CONSTRUCTION . Unclassified Excavation 14,800.00 CY. $2.50 $37,000.00 Embankment in Place Compacted 14,800.00 CY. $2.00 $29,600.00 Finish Bike Path Platfonn Subgrade 8,888.00 SY. $1.00 $8,888.00 Class 6 Base Cousre 13,333.00 SY. $8.50 $113,330.50 Asphalt 3" 8,888.00 SY. $10.25 $91,102.00 Fencing 400.00 LF. $15.00 $6,000.00 Drainage Crossings 12.00 EA. $350.00 $4,200.00 TOTAL - BIKE PATH CONSTRUCTION 5290,120.50 -- TOTAL CONSTRUCTION COSTS 5327,620.50 INDIRECT COSTS Surveying-Engineering_ Testing-As-builts 538,090.46 TOTAL INDIRECT COSTS 538,090.46 TOTAL CONSTRUCTION & INDIRECT COSTS 5365,710.96 "t.t III111 25% CONTINGENCY 591,427.74 " HE .," ,,~''.~\\ {JJC'/:'...., I' ... ...V....q,,~ )~w GRAND TOTAL $457,138.70 J I!~~' .... '!l =>./ f' l ~ ' / -~ :{'w{) ,tm . I.~ A f Sf '" .....n 8 --! ,.. i * E ,"'~~" :. \ X :: FROST CREEK P.U.D. , q ~ ....~ 'Z- . ,~ Bike Path I \ )f..... \" ~,\' . AMt\ ~. \\ '!~ '",-, ~l4!r.... .~,',.'"'-\t'