HomeMy WebLinkAboutC05-240 Village Walk
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PUBLIC IMPROVEMENTS
AGREEMENT
VILLAGE WALK PROJECT
AND ASSOCIATED BUILDING PERMITS
THIS PUBLIC IMPROVEMENTS AGREEMENT("Agreement") made and entered into
this ,W~~ day of ~ (; ,2005, by and between the County of Eagle,
State of Colorado, a body co ate and politic, by and through its Board of County
Commissioners (hereinafter "County") and Village Walk, LLC, a Delaware Limited Liability
Company (hereinafter "Developer").
WITNESSETH
WHEREAS, the Developer, as a condition of approval of the Village Walk Project and
Associated Building Permits, 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 II, Section 5-250; 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 by, or
under the direct supervision of, a Professional Engineer; and
NOW, THEREFORE, in consideration ofthe 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: f
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.
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1.3 Duties of Developer. For those Public Improvements required herein, including
but not limited to the reconstmction and physical improvements of that portion of any road
subject to this Agreement, the Developer shall retain an engineer whose duties shall include
constmction staking, observation of constmction 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 Constmction Staking. Where applicable and by way of example only, the
following is a highlighting of the constmction 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 ofthe acceptance testing that will be required ofthe 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.
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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 Notification/Road 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 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 single 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 corners, 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 of Monument at ion. An Affidavit of Monumentation sealed,
signed and dated by a Registered Professional Land Surveyor stating that project has
been monumented in accordance with 938-51-105, C.R.S., shall be provided to the Eagle
County Engineer prior to the acceptance of the Public Improvements by the County.
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1.4 Compliance with Colorado Department of Transportation'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
February 1, 2007.
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 ofthe 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 ofthe Public
Improvements is the sum of$I,452,584.10, 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.
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 $1,452,584.10. The Developer shall obtain collateral in such form acceptable to the
County ("Collateral") prior to approval of the Village Walk Building 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.
2.3 Pinal 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
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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 ofthe 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 ofthe 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 ofthe 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 is
provided 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.
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
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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.
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 Celiificate 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, ifit 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 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 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.
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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 ofthis 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 deternlined 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 ApprovalofProiect. The County agrees to the approval of the Village Walk
Project and Associated Building Permits, subject to the terms and conditions of this Agreement.
4.4.1 Proiect Amendments. Where field changes or other circumstances have
caused the road, utilities, or other public improvements to be constructed in locations
different from those shown on the approved plans, the locations of rights-of-way,
easements, lot lines, building envelopes, setback lines, or other attributes shown on the
approved plans shall be amended as necessary to comply with Building Permit and Final
Plat requirements of the Eagle County Land Use Regulations.
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 ofthe
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 ofthe financial condition of the purchaser. The
Developer shall not otherwise assign, transfer, convey, pledge or otherwise dispose of this
Agreement without prior written consent ofthe County, which consent shall not be unreasonably
withheld.
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 Responsibility of Developer Prior to County Acceptance. 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
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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 Attorney 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.
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~ WITNESS WHEREOF, the parties hereto have executed this Agreement this Q3
day of tS\A~\- ,2005.
t
Clerk to the Board of oni, Chairman
County Commissioners Address for giving notice:
P.O. Box 850
Eagle, CO 81631
(970) 328-8685
DEVELOPER:
Village Walk, LLC,
a Delaware Limited Liability Company
By: J~~] J C1L
Sharon L. Cole, Vice President
Address for giving notice:
P.O. Box 2770
Avon, CO 81620
STATE OF COLORADO )
) SS
County of Eagle )
+l dayof Av't\~~~ '
The foregoing was acknowledged before me this
2005, by l as of. l ~ Ll ~ (I 0 ~c L L Q...
., ()
WITNESS my hand and official seal.
f)(o
~A 1/Y\ 'R mOhr
Notary Public \
9
AcL~, .~
~- -.-, . .~_.- --- : -"',
F.:NG'I-J~E~rNC ,';ic
ENGINEER'S OPINION OF PROBABLE CONSTRUCTION COSTS
for the
VILLAGE WALK BUILDING PERMIT
Deaver Creek, CQlorado
Date: Jundt, 2005
1.0 SANITARY SEWER SYSTEM QUANTITY UNITS PRICE COST
LOIS" YellomincSlll1ital)' Sewer 738 1.( $50.OQ $36,900.00
J,02. ~.ctilll.cS~t2ry'~f#c.cc. II ca. ~.200.00 .S2~;:0\}~~.
1.~3 4'IJiaSaniUtl}'DropManhoJe I ea. S3.0(}().00 .g()()();()(}
.l.~._.8~Y~U()~in.:I~S.CIIlj~ s~"'~ ..... . .~8 ..Lf. .... .~llQJ)(I... h g~J)(J.
.cl:t)?..:!~}'YC:S.J:)~~.:!S.~.IIJl~~~_Stlf','i~._ .. em .'c.. ..c.. ... .1,281. .I.~... ...... cSI~:OOc..... .. ...g;.g~B.()()
1.06 Cleanout 11 ca. $100.00 $1,100.00
~L~L.~:':ct'Y.f}~.:~~~~~~~.~~i,~,,::~~,~~_~c"c'h.m._.. ... c. .h ... .. 45.. .__ c ._}:t:_.......:~?Q:Q{L_...__h~Jl}OO~iiQ:.:....
1.0ll Rood Cut and P81clt 250 sf. $180.00 $45,000.00
TCi9'CoonecilO-Ex'-;--'slinr'sowei'Maln ... "'1 ". c.... ca. s1,oOO.oo . '$1:000:00'
Subtotal Oivbiol! 1.0 $142,198.00
2.0 WAn:RSliPPLYS\,STEM QUANTny UNITS PRICE COST
2.01 COlUlWtoExistin~ Water Maio w114"x IO"x 14" I Cll. S4.000.00 $4,000.00
_2..0214.0~Y.aL"!...'~'h"'__"'_'~_h___ c...._.. h..._.... 2 en. SI.800.00 '$3,600.00
2.03 RtYddCutandPiltcll 31 $f. S180.OO $5.580.00
2.04 1~"I?!P_.\VatermBin 1,002 Lf. $65.00 '$65j50.00 . ...
2.05 IO~ [)IPh1s11I~ ',Vatcrmain .p 137 I.f.. .. . Sj()().ooii3,ioo:oo
2.06<:.?~_"'f.l!.U!.Sef\'iCC 1.041 Lf. 'hS54.00" . S56.533.oo"
2.07 c:urt>-Sto{l .....h.... 27 ca SI00.00$2500.00 - .
2,OS Fire}iYdrltnl Assemhly 4 ,.'a $4.500.00 518,000.00
2.09 6~9111eValve.. 6 en. $800.00 s4,800.00
2.10 10"x 6."lO'" Toe .... 6 Cll. S250.00 . $1,500.ooc
2.1 1 6"i>i'p~\V~-.':_c:=:-=c. 103 1.[ $25.00 $2,575.00
2. 12 IO"Ome Valve . 5 ca. $1 600.00 S&OOO.Oo
2.13 Ai;' VaC~umMauhoIe I ell. sioOO.oo $2:000.00
2J410.X6..!te<l.1l~.__.c_.~....,... ...cc_hc_c..... I Cll. $200.00 . S200.00 ..
2./5 Connect to Existin 6" Water Main I Cll. SI~oOO~OO $1.000.00
Subtotal Division 2.0 SI8?,JZJ.oo
p;aCROOOO2\Ooo:<Jme<1ts\Clocuments Tract IJIlOl 2\euii<llng permn Cost ES:If".ate~!s
3.G S'rOR\t SEWER SYSTEM QUANTITY UNITS PRICE COST
3.01 IS~ Rev 1.152 Lf. $55.00 $63,360'00
3.02 lr RCP 2~.._ .... (!:.._..Sl~:Q<l.. .... _r~~~.:()Q..
3.03 li~cMP' J77 I.f. ssg.(X}S8,8S0'00
j~04 12" CMP 363 Lf. $30.00 SIO,K<)(}.OO
i05 S"PVCSDR.3S i~336 I.f. S20.Qo.n S2.~7.2.~QO.
3.06 12" CMi"FES-'" t:a. $4()(}.{)O S4.iliJ:110
3.67 ls';CMPFEs 3 ca. $6O(}.OO .Sl,~:OO
J.os4;'Di~MOOhOIe 6 elL $2,200.00 $13,200.00
3.09 S' Diameter Manhole 7 ea. $4500:00 $32,900.00
3.10 6.[)iamderManbole.. . ..... . I. ... .' . ea. . $5:500.00., ..J.5.~~.lil:l
J: If 'ouiJet'StJli:ru;:c:---...-'.--h.-n . . ..' "--2.n "---ea::-nIib~riOO:oo' . 520.()OI).OO
3.12 72';CMPV~~dDctention 521 U~ $150.00 .E~IJQ.OO
3.13 2 'x 3'C~ll'b Inlet . II t'll. $2,650.00 S29,150.oo
3.14 i'x'iAreaifiiCi .. .... . 10 ea. 52,000.00 $20,000.00
3.15 .2 'xJ' Attalnlet .. 1 ca. S~,5()O,-OO S2.5Ql.l.Q(>.
}.16 5Soogld"':::~'9ir~~. n" ........ 1 ea.. S5.000.00$5~.OO'h ._
3J1 ti.sq:)~. .."_""'''' ea.$~:OO S30,!()Q:Ql)..
3;ISI:1:!>!l.k>p~........ 1 ea. S5Q<>:Ql.) . ...g~:~...
...1:19_6.sq:.J.rafr'~~.!Il1e.!'h'" 18 ca$SQ<l'()().J?IJ2Q.OO
3.20 LandLok TRM 450 Swale 673 l.f $15.00 $10.095.00
3.2/ Ri" .... .... I 1.5 $1300.00'$(500.00'"
Subtotal Divlaloll J,n S373,960.00
4.0 SHALLOW IJTILITn;S QIJANTllY UNUS rRlCE COST
4.01Jo.int):ren~(~Ie<;tti~Ph~ CailleMainJ. 810 I.f. $18.00 $14,580.00
4.02 Gas MAin 975 Lf, $7.00 $6,8'i5:00'0,
~;Qf'~~ial~lIin.==~~'=~:~:=.=.-' _ n' ." "n ... ...... ""6%' ca. .$SJjO'.S3:4S0:00.'
4;Q:4 __~~(:;I]Trunsfont1er n.' 2 Lf. $ i.oOo~oo $1.000.00 .n
4.0SE~Splice\'tuItt 5 ca. $i.400~oO $7.000:00'"
. 4'06S.\"'itchg~. 3 ca. $1,500,00 . o' $4,.500.00
4:07P~~g~taI ea. $220:00 $1,100.00
_~:~..~~!e.Pedl:s~ " 10 ea $220.00 $2)00:00
4'09GllSScrviC:X;mm '.. ... .. ..... .' . . "m 920 l.f. S7.00' $6,440:00
4.10. JointTrenchtE\ectric;al.POOlle.CabIeSctvice) . ... .1.010 If'$T8:00 ... $18:iiio.oo'
4.Ii"ConiieCt-iO'F.xistinShiiik'Wutiiities ....0... In 'I.s: . $2,000.00 .. '$2:'000.0(>'--
Subtotal Divlsioa 4.0 $68,273
5.0 ROADS QlJANUTY UNITS PRICE COST
5.91 nf{clJll()~e2ndl?isp<J~(jllsuita.l'k:(!()psoi~atJ(iManPlac.:dfjJJ - 8r>~.(J()() c.y. .$10,00 $90.000.00
S.02 ImflllltYillfOf.~<<>ad~rnbal1~.tfl1') .10,450 . ':Y- n $26,00 S27i)o&Oo
5.03 C/a.<ls6A~~ .B~.C'ourse(8-) 1.070 . .. ~n S26.00' . $27.820.00 .. ...
5.04 AsphaJt(6"l!1ick~ ......... ..... 705 Ion SBO.OOSS6,4()(),OO
~:Q~ 2:C:on~c:~andGu!tcr(6~curbandU'gutu.'f) 950 Lf. $16.00 s15200,00
5.06 2'c:on~ePan 35 I.f. $13.00 "S455~OOn-
5.07 Concrete Pavers Cro.'I$waJk 6 ea. S500.00 S3,000.00
5.08 PainredStopBar I ca. 1200.00 . $zoo.Go .
5.09 Palmed Rood CllIllCrline 950 If 520.00 $19;000.00
Subtoal Oivlsioll s"U $483.775.00
P \SCROOOOZDocumentslOo<:umenfs Tract M lot 2\BUliding Parmt1 Cost EstlfMteXlS
6.0 MlSCELLAi\'EOl!S QUANTITY liNITS PRICE COST
6.01 Construdion Sunev I J.So $20,000.00 S20,000.00
6.02 As built Drawll"lQS 1 Is $5,000.00 $5,000.00
6.03 Materials l' estlnll: I I.s. S23,000.00 $23,000.00
6.04 Wau:r lUld sewer tcstiDlz I Is S5.OOO.00 $5,000.00
6.03 Construction AdminislraOOn I 1.s. S I 0,000.00 SIO,OOO.OO
SllbtOOlI ONWoa 1.0 563.000.00
SUMMARY OF PRELIMINARY OPINION OF PROBABLE CONSTRUCTION COSTS
DIVISION TOl'AL C~l
1.0 SANITARY SEWERSYsiEM S14~ 198..00
2.0 WATER SUPPLY SYSTEM $189.323.00
3.0 STORM SEWER SYSTEM $373,960.00
4.0 SHALLOW UTILITlES $68,275.00
S.O KUAU:S ~lG,77.5,OO
O.U ,
SUBTOTAL .~!.,3!~~J.0IJ. .
.-- --. ,._._,-,,-~-_. -' -. _."-- ---~.-.'-,,-,-_. ..
ADI> H)-I. for CONTINGENCIES S132,i15J.1O
TOTAL AMOtJJI\T $1,452,584.10
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P';BCROOOO~lOocunents Tract M Lot 2IBuikling Permrt Cost Estimate xis
1- "fBAN<
OF VAIL 17 VAil ROAD VAil, COLORADO 81657 970-476-5686
IRREVOCABLE LETTER OF CREDIT
DATE: August 1, 2005
AMOUNT: $1,452,584.10
NUMBER: 859-5666
EXPIRATION: February 1, 2007
To: Board of County Commissioners
County of Eagle
State of Colorado
P.O. Box 850
Eagle, CO 81631
BENEFICIARY: County of Eagle, state of Colorado
SUBJECT: Account of VILLAGE WALK, LLC
To Whom It May Concern:
We hereby open our Irrevocable Letter of Credit in your favor,
available by draft at sight drawn on the FirstBank of Vail for any sum
or sums not exceeding in total the sum of $1,452,584.10.
For the account of Village Walk, LLC, P.O. Box 2770, Avon, CO 81620
For the purpose of guaranteeing construction of public improvements
required by the County of Eagle, State of Colorado, pursuant to that
certain Public Improvements Agreement dated the day of
, 2005 between the County of Eagle, Colorado, and Village
Walk, LLC relative to Lot 4, Tract M, Beaver Creek Subdivision - Fourth
Filing according to the final plat recorded June 21, 2005, Reception
Number 920056, Eagle County Colorado. Each Draft drawn on FirstBank of
Vail at sight shall be endorsed on the reverse side of this Letter of
Credit and bear upon its face "Drawn under Letter of Credit Number
8595666, dated August 1, 2005, of the FirstBank of Vailu, 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
Public Improvements Agreement, and 2) That a sum certain is required to
remedy the default.
The FirstBank of Vail agrees with the drawers, endorsers and bona fide
holders of drafts drawn and negotiated in compliance with the terms of
this Letter of Credit that such drafts will by duly honored upon due
presentation at the counter of this Bank.
FirstBank of Vail 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' being pursuant to the
IRBEVOCABLE LETTER OF CREDIT
County of Eagle
August 1, 2005
Page 2
laws of the United states, or in the State or territory which governs
the establishment and regulation of FirstBank of Vail 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, FirstBank of Vail
hereby waives 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 February 1, 2007.
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.:Xecuti ve Vice President
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