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HomeMy WebLinkAboutC06-138 cell<>.6'fft-{tf' SUBmVIsrON A!\"D OFF-SITE 11I.fPROVEME:\'TS AGIlliEME'IlT FOR ED~VARl)S DESIG\' AND CRAFT CENTER Plm File:"Jo. PDF.(10092 THIS SUBDIVISION AND OFF-S~IPROVEMENTS AGREEMENT C'Agreement") made and enrercdimolhis daYOf~ ,2006,hyandbetween Ihe COU:"JTY 01" EAGI,E, STATE OF COLORAflO, a ody corporate and politi<:, by alld through its Board ofCounly Commis,ioner.1 (hereinafter "COUnly") and EDCC, LI"C (hereinaJier"Suhdivider"). ,"VITNESSETH WHEREAS, the Suhdivider. <IS a condition of apprO\<l1 of the Final Plat of lhe EDWARDS HESIGN A:"\U CRAFT CE:\'TER J'UD (hereinafter referred to as "Subdivision"), desire, an Agreement a.1 provided for by the Land Use Regulariom 01' Eagle County. Colorado, 1999, a, amended (hereinafter referred to a, "Land U~e Regulation~") Cl1<1pter It Section 5- 2S0.B.5.e, and c.R.S, ~30.28-J37: and WHEREAS, pursuant tothe same authority, the Snbdivider is ohligared to provide ~ecurityorcollateral ,uffieientinthejudgmentoftheCounlytomakere<lsOllableprovi,ionsfor eomplelion of certain puhIic improvement~ hereinafter described ("S!lbdivi~ion Improvement~"): and WHEREAS. pursuant to Chapter II. Sedion 4.620 of the Land U.le Regnl<!tiom, when <I proposed .Iubdivi~ion i~ localed in an area ~erviced by an exi~ting County road and the COlUlty dctermines that the traffic generaled by ~uch developmcnl will re~ult in safety hazard~ for vehicle driver.l. pedc'lrian, and/or adjacent re.lident.l, or will re.~ull in ,ub~tanti<llly inCfea~ed l1lajnlenall~-e COSh to the County, the COUnty is empowered 10 delemline the anlOum of work necessary to bring the affected COllnty rO<ld to acceptabJesl,mdards top rovideadequate,afe 'ervice 1.0 pre'em owner~, to th", propo'ed s!<bdivi,ion and to olher probable subdivision~, and 1.0 require thc Suhdn'ider 10 improve it~ equitable ponion of.luch road to an acceptably safe condition; and \VHEREAS, lhe County has detennined lhal the traffic which wiII be generated by the Subdivision, along with olherpolemial subdivisions in lheare <I,willresultinsafetyha/.ard~and ,uhstmniaIlyincreasedmainlenancecostsrelalivetolheoff_siteroad';<lnd WHEREAS, lhe Subdivider ha, agreed 10 improve the roads to an acceptably safe condition and 1.0 accommodate the incr",melllal increa.le in traffic burdellto Ihe ,aid roads re.lullingfromthedev",lopmentoflhis Subdivision, by the eng ineering.construdion:md completion of phy,icaJ improvements to the said ro<ld a~ ~et forth in this Agreemefll: and WHEREAS, as a f"rther wndition of approval of Ihe final plat of lhi~ Suhdivi,ion, the Subdivider i~ obbg<lted 1.0 pmvide ,ccurity and collatcral suftkient in the judgment of the Counly tn make reasonableprovi.lion for <:ompletion of the Subdivision Improv ement"incIudingbutnot limitedtoolr-'iteruadimprovement~,refeITedtoherein:and ('r{r-r:tl,. La..' WHEREAS. pursuant to Chaptcr n, Section 4-620.9 of the Lanu lJse Regulations and C.R-S. 43-2-147, the Subdivider ,hall provide acce% for alllot~ and pan:eJs it ,-wate, to the ,Late highway ,ystem in conformance with the Slate Highway Access Code. NOW, THEREFORE, in con,idcration of dle premise~ and the covenants and agreement, herein conrained to he kept and performed by the partie, heTCto, it is hereby undetstood and agreed a~ rolJow~: L SUBDIVISION IMPROVEMENTS. 1.1 Subdivi,ionlrnorovement'i, Suhdivi,ion Tmprovements arc deemed to include al] puhlk improvements, including but not lilllIted to off-,ite improvemem, a~ ~et forth in all documents,eonstl1lctiondrawing~,design"map"speeifications.,ketche"coste,timate"and other materials submitted by the Subdivider prior to or at final pia tapprovalandaceeptanceby the County_ Such Suhdivision Improvement, ,hall indude road~. utilities and other similur public improvemenb as ,pecified by the County Engineer. 1.2 Seol1eofWork. TheSuhdividerherebyagTCe"miL~soleeostandexpen,e,t() fumi,h all necessary equipment and material, and to complete all Subdivi,ion Improvement, as referen,'ed in dle attached E~hihit "A," and that ,'ertain Puhlk Improvements Agreement 1 File No_ MI.] 2025) and that First Amendment to Puhlic Improvements Agreement as rel'ereneed in the attached Exhibit "B," and as scl I-Olth in all documents, constmctio n drawmgs. designs, map,;, ,peeil'kations,sketehes,andothermaterial,~ubmittedbytheSuhdividerpriortooratfinalp]at approval and accepted hy the County, and in accordance withal] law, of the l,Tnited States of America. State of Colorado, County of EllgJe, and their respective agencie'i and alleeted governmental entities. Sll~'h perfOl1l1an,'e shall include acquisition of all neee~,ary rights.oJ~ way, ],] DutiesofSulldiviuer, For those Subdivision Improvements required herein, including hut not limited to the reeon,truetion and physical improvement of that ponion 01' any roau subject to this Agreement, the Sulldividcr ,halJ retain an engineerwh osedlltie,~hallinclude con,trudionstaking, ob~ervationofeonstruetionforconfol1nance to the approved plans and ,pecifications, and materiab ,amp]ing, testing and impe~,tion u,ing the Co]orado Department of Highways 2001 Fie]d Matcrial~ Manua] as a guide for frequency of sampling and testing, ],3,] ConstruetionStakin~_ 'Where applicable andby.....'ay ofexamplconly, the following i~ a highlighting of the (.'Qn~tnjetion staking that will he required of the Subdivider: a. Roadwav-horizontal and venical control every 50 feet or every 25 feet incriti,'al areas, specifical]yinclllding: -,lope ,raking 'pointsol-curvature -point'iOftangeney -fillet radiu, poinl~ -culverts .tran,ition poilm Jor'iUper.clevation , -finished sub-grade -1'iTlishcdgravel b, Water.Sewer.andOtherUtilities-horizontalandvclticalcolltrol every l(~) feet, orevcry 50 feet in critical area~, 1.3,2 Te,ling, \','here applicablc and by way ofexamp1e only, the following is a highlighting ofthc acceptancc testing that will be reqnired of the Subdivider: a. t:lilitvunddraiTlagcculverttrenchbackfillunderroadwavTlfismS-OTle density test per 200 c.Y. ofbaekfill or a minimum ofonete5t per roadway ermsing, This will require daily visit~ to Ihe site by a te,tinglaboralory when mihlie~ or drainage culverts are being backfilled within the roadway prism. h. Embankments for roadways - one density test per 2/'100 c.Y of any additional emhankment(sJ; and one demity test per 500 CY. when wilhin LOOfeetofhridgeapproaehes," c, Finished suh-grade-onedemitytestper250Jinealfcet of roadway , d. A~gregate ba.se cour,e - one in-place deTl~ity per 250 lineall'eetof roadway,andgradationandAlterbergLimitstestper200()ton.~of aggregmehasecollr:<<e, e, Hot Bituminou~ Pavement. two asphalt content, gradation und in-place density te~l.s per day's production, f. Concrete - Curb and Gutler. Sidewalh and Bikepaths _ le.sts for air cOlllent. slump and compre.ssive strength per 50 c.y. of concrete pia cedor minimumofone~etofte,t,per,by. J.3,3 Notil'icmionlRoad ConstructiOTl. SubdividerorhisEngineershallllolifythe Eagle County Engineer for the p\U'po~e of arranging an on-site impection no less lhun folty-eight (48Jhour.s in advance of the foJ!owing stages of road constlUction: J)Finishedwbgrade 2) Finished Aggregate Ba,e Course 3) A~phaltPlucemenL 4) Concrete - Curb and Gutler, Sidewalks and Bikepalhs The COUnty Engineer shall make an olHile visit within the forty-eight (411) hours notificmioTl period or a, shortly thereafter as rea.sonably possible for the pllrpo~e of ohserving proof rolls on item,l)and2)aboveandforgeneraloh,ervationol'constructionmelhodsheingemployedal lhe,e srage.s. Said on-~ite inspection by the Eagle County Engineer shall in no way abrogate the durie.s of the Suhdivider outlined elsewhere inthi.s Agreement. The Subdivider shall provide the proof rolling by U1Tanging for 11 loaded single unittnlck carryiTlg 18,0 OOpolllld~perrearaxle, , 1.3.4 Witnes~inl! 01- Wlller and Sewer Laterals, It i~ e%ential that the ends of these laterab hewitnes~ed by the Subdivider', CTlgineer to a minimumoftllreedivergelltpoillts and a permanent rccord made of the same, Copies ofthesereconJs are required to be fUITIished to the Eagle COlmty Engilleer prior to COlllTnencemem of the t\\'O year w!!franty period_ In addition to wilne>sing oflhe horizontal localionoflhese Illlerah.,av enicalwitness~haJlbe required_ Horizomal wilnessing ~haIl be to propeny comers, fire hydrants. manholes, and olhel' "perlllanent" reatures, Vertical witne>sing ~hall he ba~ed On depth helow ground and elevation based on a datum used for the ,ubdivision. Bench marks ,hall he shown on witness records, 1.3.5 Test Repolts, AI! le~t reports ,hall he eonse<:utivdy numbered, with copie, fumished direnly to the Eagle COllmy Engineer from the laboralory a~ they arc reported to the Subdivider or its engineer. 1.3.6 As.Built Drawin~s ofSubdivi~ion Imorovemems, As. Built drawings. sealed, ,igned and uated hy a Registered Profc~,iollal Engineer ~howing the as-constnKted horizontal and verticallocationsofSuhdivisionlmprovemelll~ shall besuhmitted to theE.1gJe County ET1gineer prior to commencement or the two year warranty peJiod, This ~hall in<:Iude as- built drawing, in an electronic format acceptable to Ihe Coullty Engineer. 1.3,7 Affidavit of Monllillentation, All Affidavit of Monomcntation ~ealed, ~igned ml(l dated hy a Registered Profe~siOTlal Land Surveyor ~tating that the subdivision has been mOllllIlleTlled in ac<:ordanee with ~38-51.105, C.R.S_, shall he provided to the Eagle COllnty Engineerpriortotheac,'eptan,'eoftheSubdivisionlmpwvements by the Count.y, 1.4 COlllDlianee with Colorado DeDartment of Highwavs A<:eess Code, Subdivider shall provide the County with designs in compliance with the Colorado Department 01' Highways A<:<:ess Code for all road improvemems and shall ohtain a hond in the illllOllTll required by the Colorado Department of Highways (the "Depanment"). Subdivider agrees 10 SUhlllil a lelIer of credit in the amount required by the Colorado Department of Highways to Eagle County as illterim coJIateraluntil such time when the Subuivider sllbmits a bond to the Department. Eagle CoulltywiIl then release said lelterofcrediL 1.5 Date of COllmletion, All Subdi,i~ion 'mproYement~ shall be completed prior to May 1,2008. All Public lmprovement~ required under Grading Perlllit No_ '1.'11-12025 ~hall he ,'ompleted prior 10 March 1,2007, ],6 ApDroval and AecelJtan,'e of Work, 1.6.1 Copies of all test re~u1Ls corre,ponding [0 work whi<:h i~ heing inspected and any other infoI1l1ation which may be neeeS'ill)'to estabJish the sati sfadorycompletionorthe work for which impe"tion is requested lTIlI,t he submitted prior to said inspection, All su<:h infoI1l1ationshaIlbeaecolllpaniedbyaletterfromtheSuhdivider'sengineerveriryingthe sati~factory,vmpletionoftheworkper[o1'medtodate. 1.6_2 Notwith,tanding Seuion 1.3,3 ahove. prolllptlyafterreceiving arequestror in~pect.i<Jn and the required doeumentatioll, the County Engilleer shall review the information presented and. if necessary, lllakean on.,itein~peetionofthe work completed_ , J .6,) All ~aid work shall be done to the ,easonable satjsJildion of the County Engineer and/or the COllnty Departmenl of Community Development, and shall not he deemed eompletc until approved and accepted as eomplele hy the County, 1.7 Estimated Cost<; or SubdivisionlmprovemenL~. The estimated cost ol'lhe Suhdivision Improvements i, the sum or '5379,782.88; (,ee Exhihil "A" ml<lched hereto and incOl"]1'ormed herein by thi, reference (NOTE: Fox Hollow and EDCC LLC agreed to ,hare puhlic improvement cost, of Permit MI-21026 equally ($70,787.6212=535,393.81, which nmollnt is included in the ahove improvemenl~J and the improvement, a~socialed with Edwards Design und Craft Center PUD Grading Permit, File No. MI-12025 in the amount of $77,307.97 (see Public hnprovemems Agreemell! and Fir:<;t Amendment attached as Exhibit "R" and incorpol'aleu herein by this reference) and the Colorado Department ol'Tran:<;portation ("CDOT") Acccs~ Pcmlil No. 3051119 in the amount of$138.46S.90 for a total amount of collateral in the amount of $59S,S59.7Sto~ecu,eandguarallleeperfomlanceofitsobligalions a:<; ~etforth in thi:<; Section I, induding the completion of the required off-,ite improvements. the Grading Permil No. MI- 12025 and the COOT Acces, Permit Improvements. The Subdivider hereby agrees to provide secUl'ity and col!aleral in theformandas:<;el rOlth in Section 2. below, I,ll Common Purk and Recreation Area~. Subdivider agrees to 'llbmit a ConmlOn Open Space, Park and Recreation Area Plan [0 he approved by the Coullly Department of Community Developmem prio, to approval ol'r;nal plaL 1.9 LandscafleGwm:mlee. Subdivider agrees lOsuhmil a land,c<lping plan, prior to appnlVal of final plat, fo,lhe mhdivi,ion which will comply withSec tion4-240.ln<;[allatitlnand Mainlenance Reuuil'ements, The Suhdivider agrees to abide hy the Landscape Plan approved hy the County Department of Communily Development 2. SECURITY and COLLATERAL. 2.1 Collateral. Security and Coll<lleral required in Section 1.7 herein, a~ security for [he perfonnancchySubdividerofil:<;oblig<llionsunderlhi,Agreemcnl,~haII be $8S,211.63 anJ $35,393.S1(1I2M[-12026Jand$256,177.44roratolalamounlof$379,782.S8rorthepublic improvements; $77,307.97 for the GmdingPermit No. MI-1202'j and $13!1,468.90 for the COOT Acce:<;s Permil No. 30'i 189. Subdivider de,ire, 10 divide the collateral 1Illo three letter, of creJit as Jollow<;: 588,211.63 for lmprovements, ($35,393.811'>0-12026) and $77,307.9710, GradingPennil MI-12025 into one Ielter of crcdil for a lotal of $200,913.41; improvements in lhe anlOunt of $256,177.44 in one letter of credit: and $13!1.468.90 10, the eDOT Acces, Pennit illltl one letter or crediL The Subdividcr shall nbtaincollateral in the fonn ofirrevoca!lle LETTERS OF CREDIT (a~ speciried in allached Exhibit "C") in the above amount:<; prior lo signing of the finnl plat 2.2 Panial Release of Collateral. Subdivider may apply lolhe County for the rclea~e of portions or the Collateral based upon work completed in accordance with this Ab'TCement. To make such rcleases, Suhdivider shall request the COlmty Engineer to in,ped the work in order to verify satisJiK10ry complction in accordance with plans and ~pecificalion:<; III accordance Wilh Sectlon1.6. , 2,3 Pinal Relea~e ol'Co!JaleraIAVarrantv, \Vilhin thirty (30) day~ afLer Subdivider hm, completed aU of the work required by this Agreement and the work has been approved and accepted by the County, lhe entire remaining amount of the Collateral, les, an ,mlOU!U equal to ten pen:em (ID%) of the original Collmeral, shaJJ be released. Subdivider shall be re~pon~ih1e for the condition of the Subdivi~ion Impnwement~ lor a period of two (2) year, after completion: thi~ ~hall beguarallleed either through the relention ofCollalCraL ,IS set forth ,Ibove, Or Suhdivider may provide a suhstilute form of Collateral as sct fonh in SeClion 2.4 hereunder. 2.4 Suhstilution ofCollareral, The Subdivider may at any timc ~ub~titU!e the Collater,11 originally deposited with the COUnty herein, for another fann of collateral acceplahle to the Coullly, lO guaranlee the faithful completion of the Subdivision lmprovemcnt ~referredtoherein and the performance oflhe terms of lhis Agreement. At the time ofsuh,litulion of collatcraL an infhltionary and/or deftltionary f,-Ictor hased upon the Denver-Boulder, Colorado Consumer Price Index for All Urban Consumer" AlIllem~ (1967=100) puhlished by the U,S. Bure,m of LahorStatistics,303.H37-2467,or.alternalively,an approvedconstnlCtion (:ostindex, shall he used to determine an ,-ldjuslCd estimated ~'ost for all Subdivi~ionlmprovemcnl~ as deserihed herein, and collmeral shall he~ubmi([edbythc Subdividcr in accordance therewith. 2.5 Draws, Draws againSI thc ColIateral ~hall only he made as directed fly wrinen Resolution of the County, ,t,-Iting thal thereha,heenan event ofdcl"ault under this Agreement and lh,-It a SUm (:e11ain is required lo remedy the dcfaull. Any amounl drawn on the Collatcral mustbeapp1iedforthepurpo~eofcompleLingtheworkrequiredbYlhisAgrecmenlandrcJated expense~ and CO,ls. 2,6 Evellls of Default. The following evenL~ shall be deemed "Events ofDefaull," entitlinglheCountytodrawontheColJatera1: 2,6.1 If Subdivider has not completed the work required by thi~ Agreemenl within thiny (30) days prior to the Date of Completion ,el forth herein, the Counly may, after ten (I Dj working day, written Notice to Subdivider, dr,-IW upon the Collateral an amOUnl ,uflkienl to complete said work and compensate the Counly for its rcasonable costs and expense, relmed to said draw. 2,6.2 If the original collaleral prc,ented to the Counly (or any exten~ion thereol) i~ due to expire and the worki, not yet completed, andSubdividerha~ notprovidedsubstilute collateral or the bank's writtenexten~ion to the original collateral (as it may have been previou~ly eXlended),the COllnty ,hall draw On theCollaleral according to lhepro vi,ionsselforthinthis Section 2. It is Subdivider's rt.'sponsibiJit}',witb or witbout notice, to ensure that the Collateral is exteuded,ur that substitutecullateral is provided in II form acceptable to tbe County, at lea~t teu (10) days prior tu its expiration. If Collateral is neither extended uor substitute collateral pro\'ided, in a form acceptable to the Cuunty, at least ten nO) days prior to its l'xpiratiun, the developer shall pay tbe County an additional $500 (Five hundred dollars) for the additiunal administrative work required because of tbe failure to extend or substitute collateral in a timely manner a~ requin>d by this agreement. , 2.fi.3IftheCollaterali~substituted,asO!herwiseprovidedherein.thi, Agreement may he amended or modi lied in order to set forth ,peeiric Events of Default deemed neee,sary, in the County'~ Hole distTetion. commcn~urate with the type of collateral sub~tituted. 2.7 CO,l~ and EU>enscs, Subdivider agrccs 10 pay any costs and e~pen,es. including but not limited to Jcgallee~. which the COlmty may incur in determining to acccpl collateral, in drawing upon the Collateral, or in accompli~hing an e~lension 01 it~ e~piration, 2.8 Land~cavePlanCollateraL 2,8,1 Subdivider agree, to provide eollatcral in a form acceptahle tot hcCounty A.ttomey to en,Ure land~caping will he in~lalled, Subdivider agree~ to provide collateral for no Jcs~ than onc hundred and twemy-five percent (125%) ofthc cSlimated co~t oflhe land,caping improvcments li~led in thc Land~cape PIIIll, 2,8.2 A, portions 01 the land~cape improvement~ are completcd, the Community Development Dircclor shall inspeel them. and upon approval and accep tance.~hallaulhorizcthe releasc ol'the agreed estimated cost for that portion of the improve mentH.cx<:eptthallheten pcrcent (10%) ~hall bc withheld lmtil all proposed improvcmenl~ arc cmnpletcd and approved. andWl additional t\'/cnty.five percent (25%) bc reL::lincd lmtilt heimprovement~haveheen maintained in a satisfacrory condition lor two (2) year" 3. INSURANCE wld INDEMNIFICATION, 3,1 Indemnification, SubdividershallindemniryandholdlheCountyharrnle~sfrolllllllY and all cJaim~ made against the COllnly by Wly COlllfactor, subcontractor. matcrialmen, employee, independenlcontraclor. agcnt or reprcsentative involved in thewnrk neccs~aryto comply with this Agreemcnt, or ou accouut of any other claim, against the COUnLy beeau,e of the activitie~ conducted in furtherance of the term, 01' this Agreement This indemnification wld hold hw'mle,s provision shall includeanylegale,penscsnrcosl~ incurred hy the County, 3.2 Certificate, of Imurllnce, The Subdivider shall secure from any eontraetoror ~ubcontraclor engaged in the work ncce%ary to comply with thi, Agreement a Certificate of Insllrance providing for liability protection in the minimum amOUIll 01 S150,OOOperindividual amj j;(iOO.OOO pcroccurrcnce. nanling the County as an additional1ynan lcdinsurcd. The Subdivider, jfit serves as the eomfactorfor the Subdivision Impro vement~,shallprovide insurance in thc same form and amounts as reqllired of the general contractor, Said limit~ ~hall be adju,led to comply with W1Y changed limits in the Colorado GovernmentalllllInunity Aet Title 24, ArticJe 10, Colorado Reviscd Statutes, 3,3 County Incurs No Liabilily, The County shall not, nor ,hall any olficer or employee thercof. be liahle or re~ponsiblc for any accident. lo~, Or damage happening or occurring to the Suhdivision and/or Suhdivision hnprovemenh specified in thi~ Agreement prior to the completion wld acceplwlce ofthcsame; nor ,hall the County, nOr an yolTiceroremployee thereof. hc liable for any persons or propeLty injured or damaged hy reason~ of the naturc 01' ~aid work On the Suhdivision lmprovement~. but ail of said liabilities ~hall he and are hereby a~~ullled , by th~ Subdivid~r, The Subdivider hereby agrees to indemnify and hold harmless the County und any 01' it~ offic~r" agent'> and employee, again,t any lo,~es, claims. damages or liabilitk, for \\'hich the County or any of ll~ officers, agents. or employees may become subj~d to, imofar a, any weh lm,~~~. claim,>. dumage~ or Iiabilili~, (or a"tiuns ill n:,pectthereot) ari,e out of or al'e ba,cd upon any performance by the Subdivider hereunder: and the Subdi vidershallreimbur,e the Cmmty for llily and all1egul and other expenses 1Tl,'uITed hy the COlmty in cOlInection with investigatillg or dcfellding any '>LKh 1m,,>. daim. damagc, liubiJity or action. Thi, ind~llmity provision ,hall be in addition lu any otht:r liahi1ity which the Subdi videl' Inay have, 4, GENERAL PROVISIONS, The following shall apply tu all Subdivision lrnprovements.illcludinguff-site irnproveml:'Tlt,. ,et forth in this Agreement: 4, I ComDIianee with Land Usc R~gulmion~, The Subdivider ~hall h~ required tu obtain all neccs~ary permil,> and comply with the provi,ions or the Land U,e Regulutions, including but not limited to th~ Regulation, for Cunstmetiun within the Puhlic Way~ uf Eagle Cuunty (Chapter V), a,> the same ure ill eIT~"t m the time of \:ommen\:~ment of \:on,trudiun of the Suhdivision Improvem~nt,rcfeTTed tohcr~in, 4.2 Suhdivi,ion TnlDrovem~nt Al!rt:ement Cuntl'Ol,>. Tn the cvellt of any ineonsi~teney Or illcungmitybetwecn the prnvi~ion, ol'thi, Agre~ment and the Land U,e Rt'gulmioll,. the provision~ ofthi~ Agreement,halJ inull re,pect govem and eonlruJ. 4.3 Warrantics anu Guarantees. Thereshallbeatwo-year\:orrcetionpel'iod,or,ueh longer pt'riod a~ may bc pre,nibed hy law. Ii-om the time of eompletioll of thc Subdivision Improvemcnt, during which tirn~ the Suhdividel' '>hull promptly COTTe,'t or l'~movc and replact', in aceordancc with thc County'~ written instructions, (lefectivt' work or materials und eonsequcn~e, thereof. Repail' Or replae~rn~m madt' under tht' two-y~ar eorr~ction jX--riud ,hall hear an additional one-yeareOl'rection periou from the acceplance of thc r epairorthereplae~memhythe Eagle Counly Engill~t'r. Tht' work slJa!l be collateralized during Ll1e corr~diun periud in an amount nuu type of eollalnal a~ shall be r~a,onably determined by the County. The work shall bc ill,pected. at the l'eqll~,t of the Subdivider, no k,~ than ~ixty (60) days priur to expiration of the one-year additiunal cOTT~ctionperiud, and any delidencic,> ,hull bcnOledto Ll1eSubdivider. 4.4 AlJproval of Final Plat. Th~ County agrcc,> to the approval of the fiml plat Oflhi, Suhdivi,ion, ,>ubJed to the terms and conditions of this Agret'menL 4,5 Final Plm Amendmcnt" Where field challge, or other eir,'um,taJlct', havc \:aused the road, utilitic~, ur other subdivi>iun iJ\1pl'Ovement~ tu be constructed in locations different from thosc ~huwn on Lh~ appmv~d plan~, the 10caliullS of rights-of-way, ea.~t'ment" 101 line,>. huilding envelupe,. ,etbtKklint'"orotherattl'ihlltes shown on tht' Final Plat ,hallh~amendedas necessary to comply with Final Pial requircmems oftht' Eagle Cuunty Land Use Regulations. 4.6 Amcndment and Modifiealion. Th~ partie, hereto mutually agrcc thai Ihi~ Agrecmt'nt may be amended or modified from timt' lu time. provided that such amendmem or mudification be in writing and ,igncd hy all parties hereto, " 4,7 A.%i~nahilitv, Thi, Agreement shall be enforceable again:;t the Subdivider, provided, however, tbat in the event the Subdivider ~eJJs, lram;fers or assigm, all or parl of the ~llhject Subdivision, the obligation~ of the SuhdiviJer under this Agreement m, 10 Ulat portion of lhe ,ubjectSllbdivisionmaybeassumedinwrilingbythepurcha,eroflheparceJ. and the Subdivider ~hall have no fUl1her obligations hereunder, It i~ agreed, however, that nO ~uch as~umption ol-these ohligatiom shall he effective unle~, the COLlmy gives its prior 'written approval 10 such assumption following an investigalion of the fin ancialcondilionoflhe purchaser, The Subdivider:;hall not othCl'wj~eassign, transfer, convey, pledge or otherwi,e di,po:;e of this Agrcemelll without prim wrinen comenl oflhe County. which consent ,hall not beunrea~onablywithhcld_ 4RBmdmIl:UDOnSllcce~SOI'> Thi~ Agreement shall inure to llle benefit of and he bindingupontheparrieshereto,theirre.'IJCctive:;uecessors,andasoigm. 4_4 Sole ResDon:;ihilitv of Subdivider Prior to CountvAcc eptance, Itisful1hcragreed and understood thm at all limespriortothecomplclionandacceptanceoftheoff.~ite Subdivi~ionlmprovements ~Cl forth herein by the Counly, each ol-said improvements not accepteda,compICleshallbeunderthe~olere:;ponsibilityandchargc 01 the SubJivider_ \Vhen il i~ necessary to allow the general public lO utilize the roadways under con,truction by thc Suhdivider,tra1fjccontrolandwamingdevice~shallbeplacedllponsuch roadways by the Subdivider in accordance with the Manual on Unifonn Traffic Control Device, for Streets and Highways as prepm-ed by the U,S_ Department of Transportation, Federal Highway Administration_ 4 10 No RlIdm to ThIrd Partle~ Thi:; Agreement does not and ~hall not be deemed lo confer llpon Or gram to any third party any right to daim damage~ or to bring any law~uit, action or other proceedings agaiml either the Coumy or ils ollkers. employees or agenls because of any hreachhereoforhttau~eofanyrcrrns,covenants,agreemeJI(soreonditions contained herein, 4.1 I Notice_ Notice required pursuant to the tenD:; oflhis Agreement ,hall be deemed givenonthedaythatlhe,amei~placedil\theUniledState,Mail,posrageprepaid,cerlifiedor regi:;lereJrnail,retumreceiptreque,rcd, 4,12 Enlorcement and Anomev Fees, The COlliny may enforce the provi,ions of this Agreement in the same manner and with the same remedie, applicable to thc enforcement of land u,e regulatitms pur'llant to the Eagle COUll!y Land U,e Regulalions, a~ they may be amended from time to time. or ,t\ otherwise provided by law, Alternatively, the term, 01- thi~ Agreemenl may be enforceable by the Board or il~ designee by any appropriate equitable or legal aClion, including but not limircd to ~pecific performance, mandamus, abalement, or injunction_ The remedies explicilly proviJed herein arc cumulative, and nOlcxclu:;ive, of all other remedies provided by law_ The prevailing party in any aClion brollght pertaining !O this Agreemenl sh all be entitJed lO an awaru of costs and reasonable altomey's fees, IN WITNESS WHEREOF, the partie, herelo have executed this Agreement lhe day and year firsl above written. , " , ATTEST: c*a~v - TcakJ.SimoIllOn.ClcrklothcBoa County Cornmi~8ioncr~ Address for giving notice: P.O.Boxt:50 Eagle, CO 81631 Phone: (970)J28-86X5 SUBJ)f\i1DER: EDCCD~~_~> By: _+ _ _ Name: f\-11L\~' \.;__)....""::'\1,-,--,,\:'1--0 Title; --'0~--oL Addnss for giving notice: 770 POlalo Patch Drive, No. 17 VaiL CO 81657 Phone: (970)390-6299 Fax: (970) 32R-6254 5T A IE or COLORADO ) ).,s: County of Eagle ) '7A dayof&j<>// ,_ The foreguing was <lcknow1ed heforc me thi:; /8 ,2(Ml6, oy 1;;;~;~E~;:~";:ndalld~~-[J~{-:a. " of EDCl', LLC. , MYCOffil1l18SlOneXplrel .", '.y--/Z! (j'''''~.asIM,t:d''",d,D'';g",DOC r';l, ~",G_2(,)'_:'" '" "'Cl.,~' ,')o.ExpiNl2I&W1ll PeakClvilEngineorir'IJ,loc PLCJobNo_l:J:J2 PHASE lA - FOX HOLLOW AND EDCC SHARED PUBLIC IMPROVEMENTS COST ESTIMATE ~>c UIIlI L:llal CQrmlfele" llaIallWl Item !:lasor;,,",," iJ!J.~"''' LJnIl J:::<Lsl = thlJ.LJan,Jlli .m..lini>ll SITEWORI\ 1 MQbiliz.""" 1 lS $ 6,000.00 $ ~,OOO.Q(1 ~ 5,000_0(1 ~ 1.000,{)O 2 Ero.IQ"C"""QI 1 LS ~ 2,{l(H),OO $ 2,000.00 $ 1,200.00 $ 60000 3Si'aD.molit"'" ED ~ 1LS$3.000,OO$3,DOO.OO$JOOO.OOi 14 SlfI TosolI'Oelete erGro E leCo.E, 2BOOCY$ 3.50 . '$ '""5 Site Gradi "Dele'. Gr. E.l leGo. En 1 lS ~ 11,000.00 . $ t-+Rev latio"'D.'&lee,G<e EolaCo.E, 1lS $1>,000.00 . oS ROADS 74"A'halLbas.dooavem""tsectlonallerna'eool 456 TON $ 50.00$22,76025 S S22,IOO.25 8 9" Raadba,e bas.dQn "Om",,' '.ctioo altarn.", no. 1 9~3 TON $ 20.00 ~ 18,4.52.00 $ 18,45~,aO 9 ConcreleSldewalk _~ 1500 SF $ 10.00 $ 15,900,00 $ $ 15,000.00 10 Co,b and Gul'.r T e2 S.olion liB '545 LF $ ~O.OO $ 16900.00 $ . $ 1~,goo.oo 11 Conera'. A 00 65~ SF S 10.00 $ 6,520.00 $ $ 6.520.00 R~~rb~m 5 EA $ 500.00 $ 2,500.00 S $ 2500.00 13S'na rMUTCOaodCOOTS,incalioo, 4EA. $ 500.00 $ 2,000,00 $ 2000.00 -Npa""m""IMark' rMUTCOa"dCOOTS c;["o..o", 1 LS $ 170.00$ 170.00 $ . $ 1T0,00 STORMDRA'NAGESYSTEMS 1512'HDPE 54LF $ 15.00$ 510,00$ $ S10.00 1612"HDPEFlarodE"dS.,tlon lEA $ 100.00 $ 100.00 $ $ 100.00 171S"HOPE 2J4LF $ 25.00 $ 5550.oos $ 5.850,00 1815"HDPEFlare<lEnJSecIJo" 1EA $ 150.00 $ 150.00 $ , $ 150.W 19 Curblnle,aMGral. 5#tf:A S 3.000,00 $ 15.000.00 S $ 15,000.00 "20 Oel""~o,,PondLoll indudin outlelslructm&s l' LS 3WOOO $ Jaoo.OO $ S J,OW.oo L~l D&ten,jonPondloI2 i"CI"dio oull.lst~,,'ur'.. 1 LS S 1,500.00 $ 1.500.00 $ $ 1,500.00 r:;SANITARYSEWERSYSTEMS ~ 22~~:J5PVCse""rMai" INCLUDED IN PIA FILE NO. MI.12026 n 8"C900PVCs.werMaill INCWOEDINPIAFILENO.MI_12026 24 SeworMaol1ol&,4'.0" LO, INCLUDED'N PIA FILE NO, MI-12026 25Cor.O"la"dCoooecIB"S"",",'oE';'li Manhole INCLUOEDINPIAFILEND.M'.120Zl; DOMESTlC WATER DISTRIIlUTIQ.'l SYSTEMS ~~ 8"DIPWato.-Main INCWOEOINPIAFllENO.MI_120Zl; 21 S" Gal. Val"" 4EA. $ 1 JOO.OO $ 5,200,00 $1.300,00 $ J9oo.00 2S12"OateV.I"" 2EA $ J.OOO.OO $ 6000,00$6000.00$ 2<JFlreH rar>tAosembl 2EA $4.aoo.OO $ S,OOO.CO $ $ BOOO.OO SIiALLOWUTILITIES JOEloc~.ai"Lioe",a'erlal,furoi'he<lboll1ars INCLUOEDINPIAFILESNO.MI.12025ANONO.MI.12026 31Eloc'''"aITran'fur",.". 2EA $5,000.00$10.000.00$ ---'---- $10,000.00 J2Sl1allowsMai"3.4"PVC&1_2"PVC 335LF $ 24.00 $ 8,040,00 $ _ $ B,040.00 J2,5ShallowsM.;o3.4"PVC&1_2"PVC JJOLF S 24.00$ 7,920.00$ . $ 1,920.W J3Cablerv 9S4LF $ 6.W'$ 5,004.00 $ $ 5.904,00 34 Gas Lioo Trench & eac~ml JOJ LF $ 9,00 $ 272/.00 $ . ~ 2,727.00 TOTAL PIiASE 1A $176,42J.~~ $16,500.00 $139,923,25 Pr.pareday; .. '-;''-'-;''''';;-- Ro",,,,.,A a'ylO'i.,PE.,:" ~\lO RfC/~>' P&akClVlEogln.ering,loc ",',,'t .""0'. :s ,.....\ ' '" ..'O~' v~ :. '_'. .- '" .~<; Fe' r-;<> ~ ",C'o 0.",_, "'->'", .....- ': ' 38823 ,,; 0;: "< >28 ". ,,~, p .~-","., ":-""". ........'<i;;' ..~ 0-', . ~.) \(",<$;'" ,"'~~f!-..,) EXHIBIT ~~,!O,"'ALt:.... . ~..... de' "'" I "lJd P;\1300-1399',1332IdocslE,>gine<!I$E,tm.law.Comol.'0<111.""_200B-<l3_21 Peak Civil Enginooring, Inc. PLC Job No 1332 STATE HIGHWAY ACCESS PERMIT NO. 305189" US HIGHWAY 6 WIDENING ENGINEER'S ESTIMATE OF PROBABLE COST 8.pP!QK. "M '''' "m Qescri~1ilm "",,"" um, Co. ",,' 11 US HIGHWAY 6 WIDENING Mobilization , " $15,000,00 $ 15,00000 , Tram~ntrol " CY $ 1500 $ 315,00 , Gradin Remove to soil in ROW 1800 " $ ,.00 $ 12,600,00 , Fill 10 sub rade wi onsite material ,"00 " $ 750 $ 13,500,00 , Erosion Control , " $ 2,000,00 $ 2,000.00 0 Reveetation , " $ 500000 $ 5,000,00 , 6"HBP 0" '0' $ 50.00 $ 41,620.37 0 4"ABC Class 6 '" '0, $ 2000 $ 11,571.56 , 12" ABC Class 3 1736 '0' $ 16.00 $ 27,77173 " 2"HBPoverla '" '0, $ 5000 $ 45,669.14 " 18"CMP '"' " $ 45.00 $ 1179000 " 18"CMPFlaredEndSeclion , '" $ 38000 $ 3,04(WO " Remove 18"CMP , "^ $ 800.00 $ 4,00000 " 24"CMP " " $ 7500 $ 6,900.00 " 24"CMPFlaredEndSection , '" $ 480.00 $ 48000 " 24"RCP '" " $ 6000 $ 23,280.00 f4 ~ClnJet , '" $ 3,000.00 $ 3,00000 i-!!, Valle InlelandGrale , '" $ 3,000.00 $ 3,000.00 " 4'.0"I,D,OrainManhole , '" $ 3,000.00 $ 6,000,00 " CleanExistin Cross Culvert , " $ 4500.00 $ 4,500.00 " Grass Lined Oraina eSwale '" " $ 35,00 $ 490000 " Sinin,Striln,andOellnealors , " $12,000.00 $ 12,000.00 " RaiseSanita Sewer Manhote , '" $ 2,000,00 $ 4,000,00 " Ad'uslexistinutililies , " $15,000.00 $ 15,000,00 TOTAL $276,937.80 This estimate based on Notice to Proceed plans dated 03-17--D6. ".., .... -,;;""""';',., _i~'i:\j?,RfG/,S';;>. Prepared By: <",$l'-"~'S"f;..~-_~\ ;Cc"l> o'~:1 RomeoA,Baylosis,P,E -'->- ""'0:1 Peak Civil Engineering, Inc. :: :". 38823 -p~ : I ':~ \J.Zg~. ~ii ".q...,.;;;. '\<"J' , . <:J..'- -'S~_}(ONAI.~~/ ~~ - P:\1300-1399\1332\dwg\HIGHWAY _NOTICE TO PROCEEO\2006_03-17\Enginellrs Eshmate_Highway 6_2006. 03_17 Pe,k Ct"Engineering. 'nc PLCJob'lo.1JJ1 PHASE1B-EDCC PUBLIC IMPROVEMENTS COST ESTIMATE ilRi>tux. Unit = (&mj)kllM ElaJaJle;, Item ::i<r,;r.rlnoon !J!Jaum L!nlJ c~' Cosi tll(III"" 'Nl tll.1inisl.l SITEWORI<: . .:0 1 MobiU""Iio" 1 LS $ 6~OOO_OO $ 0,000.00 5_0"0.00 ~ 1,00<).00 2 Ero,]Q"fontroj ~_ 1lS $ 2_000.00$ 1,000.09_$ UaO,g2_~!ao.oo 3 Bould.,Walls 3090 SF $ 20.00 $ 61,800,00 $ 5880000 ~ JaOOOO 4 Rev e!a~o" f L.S ~ ],OOam ~ 3_000_00 $ ~ 3,000.00 L2. """o5capinQ(O"edonG"'W>dO:>ntrolesrlo,,'e8-1_05 1 L.S ~ 48,700_00 ~ 4",700,00 $ $ 48.700.00 I ~.. 8 eNom Rockfall Fnnce 100 LF L.. 450.00 ~ '\5,000.00 $ 24_000.00 $ 11,000.00 ROADS 7 4' As h"l ba5ed an .-;;'ementsecoo" .Iler",,'. no f' 489 TON $ 50.00 $ 24444.44 $ ~ 24.444.44 8 9" Ro,~base M'ed On aVfIfIle"'sec,Qn,I'.''''''eno.1 "900 TON $ 2a_oa ~ 19,800.00 $ $ f~,800.0D 9 Curb."dGuttfICT .2 S.c~on"B' 33 LF $ 20.00 $ WI.OO $ ~ 'ii6ifoo 10 81 "a 8 er MUTCDand CODT S edficatlo". 1 E!I $ 5DD,00 ~ J.500.00 ~ $ 3.500_00 L-_ STORM ORAINAGE SYSTEM5 1 ,," i," HOPE JDD LF $ 15,00 ~ 4500.00 $ $ 4,50D.DO " 12" HOPE FI".d End S,"",on 4 EA ~ 100.00 ~ 400.00 $ $ 400.00 1;i"Valle 'nleta'l<JGrate 2 EA $ JWO.OO ~ 6000,00 $ $ 6_000_00 L.14 C<mcre'e GUlle<T .2 . 1182 SF $ mOD $ 11,62D_00 $ ~ 11_82?,gg ~D<tt.ntlQ"POndE'S'J"'''Ud' O"""'5Iruc!ures" 1LS $1,500_00$ 1,5oo.DO$ --$ ',500:00 16 O.lentlo" Pond West '''~udln ou"elslructures 1 LS ~ 1,000_00 ~ 1,ooO.DD $ $ 1,~~ SANITARYSEWER5YSTEMS 178"SDR35PVCSeworM,'n INCWDEDIN P'AFILE NO,MI-12025 1 16 ,~"werM'nh,"~~4-_0"1.D_ __. INCLUOEDIN PIAFI~ENO_ MI.12025 r- OOMESTICWATERolsrRiauTIONSYSTEMS 198"O'PW'teTMa'" .. .-J!:'ClUOEOIN!,IAF'LENO.MI:11025 =0,' '08"Ga,.v,'ve 1 EA $ 1,3OOM $ 1,300_001$ _ $ UOO.OO 21 F're H ra'" Assemt>, , EA ~ 4,000.00 $ 8,000,00 $ $ 8,000.00 22 Air v~c V.lve.OO M~"l>ole 1 EA ~ 3_000.00 $ 3,000.00 ~ ~ 3,>':QQ,OO SHA~~OWllTlllTIES 13 Ga.U~"'(Trend1&B.'M"1 _ ~17 ,F. $ 9.00 $ 3_7,3.00 ~ ~ 3753.00 TOTAL.PHASE1a$.se,177.44$8g,100_08 $101,071_44 P",paredBy; . . ,;',....;;;>, RQmeoA.8a,losl>,p.E "" OR ',,', Pe,kCMI E'''lJ''"""ng, Inc :-,,'!'i:-~'\J., "fC/.s;',>, .- <:....'-0 ~ "4~;... '1>-,\, : ':::-_.,~ '0'. .~ ~\ _'oJ.e '"'0" : '-'-<c 38823;;' :1 :." ".? "'Q_.,.- ",,:1 -"",-.;r~~_'};<i:.' ". 0 ". .' "'-, ';'~~" '-'-"c;V~'-- '\-.sS!O',,~~~v.:/ a_~c:'~ I~"~ {/ . P;11300-1399113J2IdocsIE"gi"..rs Eshmatew. Compje'ed".ms_200 &-03-21 t/ -;> ii 1llllilllllll~IIIIIIIIIIIIIIIIDllilllllllllllll ~~~~~: .... T..' J ".On\"n <'.", co " ~ e."," 0 B.eo PUBLIC IMPROVEMF.NTS AGREEMENT EDWARDS DESIGN & CRAFT CENTER PcD ~ GRADING PERMIT ,," FileNo. Ml-12025 I THIS PUBLIC IMI?-~~:~~~TS AGREEMENT ("Agreement") made and entered into thi~ I 'fn.. dayof ,2005,byandbetweenWoodward Coru;rruclion, me. (bereinafter "Developer") and tho Board of County Conuni>lsioners of the County of Eagle, State of Colorado (hereinafter "County"j. WITNESSETH WHEREAS, the Developer, as a crmdition of approval of the Edwards Design & Craft Center PUD Grading Permit, file Number MI-12025, desires an Agreement as provided for by the Land Use Regulations of Eagle County, Colomdo, 1999, as amended (~hereinafter referred to as "Land Use Rcgulations")Chapterll,Scction 5-250; and WHEREAS, pUl'lluant to the same authority, the Developer is obligated to pro\~de security or collateral sufficient in thejudgmentoftheCountyto make reasonableprovi sionsfor completion of certain public improvements hereinafter described as ("Public Improvements "); "'" v.'HEREAS, pursuant to Article IV, Section 4-610 of the land Use Regulations, de"elopmentin the unincorporated areas of Eagle County shall be planned and designed, or under the direct supervision ofa Profesiional Engineer, and NOW, THEREFORE, in consideration ofthe premises and the covenants and agreements hcrein contained to be kept and performed by the parlieshereto, it is hereby understood and agreed as follows; I, PUBUC IMPROVEMENTS 11 Publielnmrovernenls. PublieImprovernent~aredccmedtoindudeal1publie improvements related to tbis development On and off-site. 1.2 SCQOOofWork.TheDeveloperberebyagrees,atitssolecostandexpense,to furnish all necessary eqnipment and material, and to complete all Public Improvements as referenccdintheattachedExhibit"A",andassetforthinaJldocumenlS,constructiondrawings, dcsigns,maps,specifications,sketches,andotbermaterialssubmiUedbytbcDeveloper prior to or at grading permit approval and accepted by tbe County, and in acoordanee witb all laws oft he L"nited States of America, State of Colorado, County of Eagle, and their respcclive agencies and affemed govemmental entities. Sucb perfonnance shall includeacquisilion of all nece&Sary rights-of.way U Dllties ofDevcloner For tbose Public ImprovemmlS required herein, including but not limited to the reconstrtlclion and physical improvernctUs of that pottion of any road I EXHIBIT iJ3 ,; , , subject to this Agreement, the Developer shall retain an engineer whose duties shall include constroction staking, observation of construction foroonfonnance to theappmv edplansand specifications,andmatcrialssampling,testingandinspcclionusingtheColorado Department of Transportation 2001 field Materials Manual as a guide for frequency of sampling and testing. 1.3.1 COrultruc!ionStaking_ Vv'here appllcable and by wny of ""ample only, the following is a high1ighting ofthe construction staking that will be required of the De,'eloper; a. Roadwav-horizontal and vertical control every SO feet or every 25 feet in critical aress, specincallYincJuding: -slope staking -points of curvature -points of tangency -fiUetradiuspoints -culverts -transitionpointsforsuper_eJevation -finished sub-grade -finished gravel b. Water, Sewer. andOtherlftilities_horizontal and vertical c nntro] every 100 feet, or every 50 feet in critical nreas, 1.3.2 Testin~. Where applicable end by way of example only, the following is a highlighlingoflheacceptancetestin!!thal will be required of the De,oeloper; a Utility and dtllina~e culvert trench backfill under roadway llrisms -one density lest per 200 c.Y. ofbackfiJl or a minimum ofcme test per roadway crossing. This wilJ require daily visits to the site bya testing laboratory when utilities Or drainage culverts are being backfilled within the roadway pmm. b. Embankments furroadwavs_ one density test per 2,000 C.Y. of any additional embankmenl(s); and one density test per 500 C.y. when within 100 feet of bridge approaches. c. Finished Sub-l!rIlde_one density test per 250 Jineal feet of roadway. d. A~lITe~ateb"--'ecoursc_one in-pJace density per 250 Jincal feet of roadway, and gradation and AllcrhergLimita testper2.000 tons of aggregafebll.<ecourse. e. EtO! Bituminous Pavement - two asphalt conlent, gradlltion and in- place dCllsilyleats per day's production. , f. C:',"crele - Curb and Gutter. Sidewalks and Bike Paths _ tesls for air content.slurnp and compressive strength per SOC.Y. ofconcrele placed or minimum ofonesel oftestsperday. I.J.J Witnessim!ofWalerandSeweo:-l-aternls.ltiSe1;sentialthaltheends of these lalernls bcwitnessed by lheDeveloper's engineer to aminimwn of three divergen t JXIints and a permanenl record made of the sarne. Copies ofthesereoords are required 10 be furnished to the Eagle County Engineer prior 10 commencement of the lwo year wamUlly period and the final releaseofcolJateraL [naddiliontowitnessingot'the hoti~ontal]ocationoflheselalcrals,averticalwitne""shalJberequired. Horizontal wilnessin!lshall be to property comers, tire hydrants, manholes, and olher"permanent" features, Yert:ical witnessing shall be based On dcpth below ground and elevalionbE18ed on a datum used for the project. Benchmarks shall he shown On witness records, 1.J.4 TeslReoorts. All test reports shall be conseculivelynurnhered,with copiesfumished direcUylo the Eagle County Engineer from lhe laboratory as they are reported 10 the Developer Or its engineer, 1.3.5 Record Drawinl!!l of Public lmnrovem<;llts. Record drawings, sealed, signed and dated by a Regislered Profes,ional Enginecshowinglheas<construcled horizontal and vcrricalloClllions of Public Improvements sh&Il be submitted 10 the Eagle County Engineerprior to connnencement oflhe two year warranty period and the finaJ releaseofcolJaternlhylheCoUllty. " Comnliance with Colorado .Denartment ofTranSlIDrtation's State Hie-hway Access Code Developer shall provide lhe County wilh designs in compliance with the Colorado Department of Transportation's Slale Highway Access Code for all road improvemenls. " Date of Comnletion. All Public Improvements shall be completed prior to February 1,2006-. L6 AnnrovalandAccenlanceofWork. 1.6.1 Copies of all test resu!t!1 corresponding to work which is being inspected and any other infonnalionwhich may be necessary 10 establish the salisfaclory completion Oflhe work for which inspeclion is requested mu.st be submitted prior to said inspection. All sllch infonnation shall be accompanied by a letter from the Developer's engineer v..ntyingthe satisfactory complelion of the work perfurmed 10 date. 1.6.2 :\'OlwithstandingSectionl.3,Jabove,promptlyafterreceivingarequest COt inspection and the required docwnentation, the County Engineer shall review the infOnnationpresentedand,ifnccessary,makeapubJiCinspeCtionoftheWOrkcompleted. L6.3 All said work shail be done 10 the reasonabk satisfaclion of the County Engineer, and sh&Il nol be deemed complcte unlil approved and accepted a!l complete by the County. ; '7 Estimated Costs ,,(Public Imorovement.. The estimated coS! of the Public Improvements is the Sum of$141,076.44, as summarized in Exhibit "A". To s""..ure and !,'Uarantee performanceofils obligations as set forth in this Se<:tion I, including the com plction oflherequired Publio Improvements, the Developerherebyagrees to provides ecurityand coHateraJ in the furm and asset forth in Section 2, b<:Jow. 2. SECL'RfTY AND COLLATERAL 2.' Collateral. S""wity and ColIateraJ required in Section 1.7hereill, as security for th.epe,fonnancebyDeveloperofitsoblillationsWlderlhisAgroomenl,shallbeio the lotal amountofst41,fl76.44. Tbe Developc:rshaJI oblain oolJateral in such form accq,tabJeto the County ("Collateral") priorlo approval o(Edwards Design & Claft Center PUD Grading Permit, File Number MI-I2025, as specified in attached E~hibil "B", 22 PartiaJReJeascnfCollale:raL Developer may apply to the County for the release of portions of the Collateral based upon the work wmpleted ill accordance with this Agreement. To make sucb. reJeases, Developershnll requesl the County Engine<:rlo;uspectlhew orkin order to veritysntisfactorywmpletion in accurdance with plans and specifications innccDrdanc e withSeclionL6. 2.3 Final Relea~e ofCoIlatera),Wazmn(v. Within thirty (30) days after Developer has completed all of the work required by tbis Agreemenl and the worK has been approved and accepted by lhe County, lbe entire remaining amount oflhe Collateral, less an amounl equal to lellPercent(lD%)oftheoriginalCoHat~Tal,shanberelessed. Developer.hall berespon.ible tor thecondilionoflhePubJiClmprovemenlsfOraperiodOftwO(2)yearsaftercompletion;thi. sballbeguaranteedeitherlhruughtheretentiouofCollateral,assetforthabove,orDeveloper !nay provide a guarantee bond In an amount and in a fonn acceplable to the County -which would besubstituled for the release of the enlire amount of the CoJIateraL 2.< Sub.titutionofCollnteraL The Developer may al anytime substitute the Collaleraloriginallydeposiledwiththecountyhcrein, for another form ofcoUaterai acceptable to the Counly, to guarantee the faithful completion of the Public Improvements referred to herein and the performance of the term. ofthis Agreement. Allhe lime ofsubstitulion of wUateral, an inflationary and'ordeflationary faclor based upon the Denver-Boulder, Colorado Consumer Price Inde>; for All Urban Con.umera, All llems (1%7"'100) published by the U.S. Bureau of LahorStatislics, JDJ-8J7.2467,or, allernatively, an approved conslructiou cosl i ndex, shall be used to determine an adjusledeslimaledcoslforalJ Public hnprovemenlsnsdcaeribed herei n, and collateral shall be submitted by the D<lveloper in acwrdaneetherewith, 2.5 Draws, Dmws againsllhe Collateral shall only be made as directed by written l(eWlulionoflheCounty,statingthattherehasbeenanevenlofdefauhunderthisAgmement and that a sum certain is required to remedy the default. Any amounl drawn ou the COllaleral must be applied for the purpose of wmpleting lhe work required by this Agreement and related expensesandeosls. 2.0 Event~ of Default. The following events shall be deemed "Events ofDefaull," entillillg lheCounty 10 draw on the CoIlateraI: , 2.6,1 IfDeveloperlUls not eompleted the work required by this Agroement within thirty (30) days prior to the Date ofCompietion set fOrlh herein, the County may, after ten (10) working days wrilten Notice to Developer, dmw upon the CoIlalernl an arnount suflicient to complete said worlcand oompensate the County for its reasonab Ie COSlll and expenses rela~ed to said draw. 2.6.2 If the original oollateral presented to the County (or any extension theroof) is due to expire and the work Is not yet completed, and Developer has not provided snbstitute oollateral or the bank's written cxtension to the original oollateral (0lI it may have been previously extended), the County shall draw on the Collateral according to the provisions set forlh in this S<>etion 2. Itia DeveloDer'a respooalblUty,wltb or wftbout nodce, to eOsure that the Collaleralls extended,or that subsdtute collateral Is provided ID a form acceptable to theCouDty,at I""st ten days prior to ill expirat Ion. If Collateral Is neither extended nor substitute coUateralprovided,ln a form acceptabletotbeCounty,atlearttendaysprlortoitsexpiratlon,tbeDevelopershaU pay the County aD addlUonal $500 (FlvelluDdred dollanj for tbe additional admJnlrlratlve work n:'lu;red because of the failure to extend nrsuhdltute ""lIateralln a tlmely mllllner as required bythi,agreement. 2.6.3 lftheCollateral is substituted, as otherwise provided hcreill, this Agreement may be arnended or modified in order to set forth specific Event.ofDcfaull decmednecessary, in the County's sole discretion, commensurate with the type of collateraJsubstituted. 2.7 Costsandfunenses. Developeragrees to pay any costs and exp<mses, including hut not limited to legal fees, which the County may incur in determining to accept co J1ateral.in drawlngupontheoollatet'..J,orjnaccomplishinganexten.~ionofitsexpirat:ion. 3. INSURANCE and INDEMNIF1CATlON 3.t C~'rfificatesoflnsurence. The Developer shall secure from any contractor or subcontractor engaged in the work necessary to comptyWith lhis Agrcement a Certificate of rnsuranceproviding fru: liability protection in the minimurnamount of.lil 50,000 per i ndividuaJ andS600,OOO per occurrence, namjngthe countyllS an acIditionally narned;nsured. The Developer, ifit s.erves as the contractor for the Public Improvements, shall pro\-ide ins\mll1Cein the same forrnand amounts as required of the general contraetor, Saidlimitsshallbeadjustedlo comply with any changed limits ill the Colorado Governmental Immunity Act, Title 24, Article 10. Colorado Revised Starutes. 3.2 CountvlncursNoLiab;litv, The ConntyshaII nOl,norshalJ any officer Or eml'loyeethe,-eof, 00 liable or responsible for any accident, loss ordarnage happcningor occurring to the Public Improvements sp.ecified in this Agreement prior to the completion and acceptanceofthes.amc;norshalltheCounly,noranyofficeroremployeethereof,beliablefru: any persons or l'roperty 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 DevcJoper hereby agrees to indell1nifY and hold hlil7Uicss the County and any of its offieers, agents and employees againotany losses, clai=, damage8 or liabilities tor whic htheCountyor 5 , any of its officers, agenl.i, or employees may become subjll\:t to, insofar as any such losses, elaims, darnages or liabilitiell (or actions in respect thereof) rniseoutoforare basod upon any pertonnanee by the Developerhereunder; and the Developer shall reirnburse the County for any and all legal and other expenses incurred by the COUTlty in conncction 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 h.ve. 4, GENERALPROVISIONS The following shall apply to all Public Improvements, including otl~site imprm'ements, set forth iu this Agreement: '.1 Comnliance with Land Use Relnllations. The Developer shali be required to obtain all necessary permits and comply with the provisions of the Land Use Regulations, ineluding but not limited to the Regulations for Construction within the Public Ways of Eagle County (Chapter 11), as the same are in effect at the tirneofcomm=ent of cOnstruction of the Public tmprovemcnts referred to herein. '.2 Public Imorovement A2I"eement Cuntrols. In the event of any inconsistency or incongruity between the provisions of this Agreement and the land US" Reguiations, the provisions of this Agreement shall in all respects govern and control. '.3 WarranliesWldGuarantll\:s. There shall be a two-year correction period, or such longer period as may be preSl.Tibed 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 consequence:; thereo( Repairorrepiacementmadnundetthetwo_yearCOm:ctionperiodshallbearan additional one-year correction period from the aceeptllIlCe of the repair or then:placement by!he Eagle County Enginccr. The worksball becoliateralizod during the correction period inan amount and type of collateral as shall be reaoonably determined by the County. The work shall beinspected,atthe request of the neveloperno leas than sixty (60) days prior toexpi ration of the one-year additional correction period, and any deficiencies shall be noted to the Developer, 'A AporovalofGmdinl!Permil. TheCounty agreca to the approval of the Edwards Design & Craft Center pun Grading Pennit, File ;\lumber MI-1202S, subject to the terms and COnditionsofthi,Agreemenl. " Amendment and Modificalion, The parties hereto mutually agree that this Agreement may bc amended or modifiad from lime to time, provided that such amendment or modification be in wriling and signed by all parties hereto. '.6 AssilZllabilitv, This Agreement shall be enforceable against the Developer, provided,however, that in the event the Developersells, transters or assigns ail orparto fthe stilijectproperty, the obligations of the DevelopeT linder this Agrcementas to that porlion ofth e subject propcrty may be a.ssumed in wntingbythepurchaserofthe parcel,and the Developer shall have no furtherobJigationshereunder. It is agrced, however, that no such assumpliOll of theso:obligationsshall be cfIective unless the county gives its/!riQrwnllen approval to such 6 assurnPliOnfOl!owinganinvestigationOfthcfinanciillcondilionoflhepurchascr. The DeveloPeT,hallnototherwiseasSign,tran,fer,conVey,Pledgcorotherwisedi,poseoflhis Agn.-ementwilhoul prior written consent of the County, which consent snail not be unreasona bly withheld. 4.7 Bindin~ UOon Suc<;essors. This Agreement shall inure to the benefit of and be binding upon the JXll1ies hcreto, their respective SUCI.:Cssors, and assigIlS. " SoleRcsnonsibilitvofDeveJocer Prior to COl.l1ltvAcccotance. llisfurtheragreed and understood that at ilIl limes prior 10 the complelion and acccplance of the Public Improvements set forth herein by the county, each of said improvements nol accepted as complete shall be underlhe sole responsibilily and charge oflhe DevelopeT. When it is necessary to allow lhe general public 10 utilize lhero;ldways under eonstlUCfion by the Developer, lmllle control and waming devices shall be placed upon sneh roadwa)'ll by the Developer in accordance with the Manual on Unifonn Traffic Control Devices for Streets and Highways as prepared by the U.S. Department of Transportal ion, Federal Highway Adminislmtion. " No Ria-]ttsto Third Parties. Thi'Agreernentdoes ootand shall 001 be deemed to confer upon or granl to any third party any right to claim damages or to bring any lawsuit, act ion or other proceedings against eithertheCoUIltyorilSoflicm, employees oragenls becau seofany breacb hereoforbecauseofanytemt.l,covenants, agreements or conditions contained herein. 4.10 Notice. Notice required pursuant to the teons oflhi. Agreement shall be deemed given on lhe day that the same is placed in the United Slates Mails, postage prepai d,certil1edor regisle1"cdmail,returnreceiptre<;uested. 4.11 Enforcement and Attornev Fees. The County may enforce the provisions ofthis Agreemenl in the same ml\rtI]er and with the same remedies applicable to the enforcement of land use regulations pursuant to the Eagle COl.l1l1y land Use Regulalions, as lhey maybe amended from time 10 time, or as otherwise provided by law. Alternatively, the terms oflhis Agrecment may be enforceable by the Board or its designee by any appropriate equilableor Ie gal action, including but not limited to specific perfonnanec, mandamus, ab-alement, or injunction. The remedies ""plicitlyprovided herein are cwnuJative, and not exclusive, of all other remedie~ provided bylaw. The prevailing party in any action brought pcrtainingto this Agreement shall beentilled to an award ofcoSls and reasonableallorney's fees. , ( l~ WITNESS \VHEREOF, the parties h<<eto have exccutoo this Agreement Ihis c;. da}'of 7;t'l&,_~,2005. ATTEST: Clerk 10 the Board of County Commissioners DEVELOPER: WOODWARD CONSTRUCTION, INC, - ~~~~ By: Address for gi'IJing notice: ' .:r-'to"o"'M1O~O.t_~,~ v.....,~,<-_ 'ttr.n STATE OF COLORADO ) )" County of Eagle ) 1'{;J1Jd'Y'f~ of J WITNESS my band and oftici.J seaL . . '//""'/_, '. ",.,'.' Mywmmj~sionexpires ",:(ri!\'-'. ~ " . -,-, ";",. A..k.~ I' tJ I' , ;._vi~, ' I....,':;::;'}:.:.;:'. Notary Public - 8 j/;l~~5 13'511 S7047 '.96 """"'" '''' "' WOODWARD CONSTRUCTION, INC Jw,.:a,aoos ~~~~~1 Mr._fflll1<:t I!o&I*Covluy~_IP>.o-._. P.O.l'I",15ll 2u1o,CQI16l1 ENGINEERING llr.~0tlign,lCl'lftCa"-lIIlIIP6lH<lIlowI1lllllloaBlo:i.... H6Ilohlc: .............M....~........."......,...'_'......ti<wBAB~.". .. ftlr.hl""".........-.1o.ftlr... IldMrdoDaip.t.CnIl.CcaII:rIDdFOlHc>lJowOndl.la:P"",itloj:lpficmoru: Ed_n..;...t.CbIIlr........ """" ........ 117.757.60 430LPA"'I..UM -- SUJIA5 ~ "@l12,19O.91 ,W_"""" _00 3OOLPgU7.UI1f Illoaniol,l....., SI~IU.a l'9OLI'IlUIU411f' OL M "~ 1ll-47HO 4'1'Ou>@S24.oI2IIf , 176,2n.05 lime ~_or- ".llM70 T<>IoIl: S83,l104.7! """" SU1pTopsoJl: 'U.:J911.62. ~.791CY8JU9ICY SitoOra;fn&: SI,lI.1U::i J,l7lCVIill$ll.=v ""'- ~- '794Il00 1!,uoCYI!tS5.I~ Il03,NI.:J4 '~<oII_, S5U74.27 IOK~ S5191.41 Sib:Worl<TOlal: 157.171$ Tot.olEDCCoollolelal, 1141,0111.<< P....rrD1J....o. "- .sc.....MoIn; "',6.II.2fI 141LFiltS;)7.JM,F -- S1~,ill;i.OO 6"8I:l,flO~ \Vaq-MIiIr. S.1'~1.Q 6Z1LF@U6.Jl IlloWloMohl, SS,2lJO.7:J l11lJ11S16.1S91tF Shall"....,,, 57.121.00 3J/lLF SI.9&II.f S9',~"1i!I 19%~ S9W1M "'" SI~5J1." ...... ....o....li"F $lO,ltlJ.ll 1,6JICV@lSU:lJCY 100r.....,;~ S11160Ul SlIrWonl'obl, 112,Q09.6l 7oWr""H.II_~, 1117,542.17 PI<uogiYolIIClc:alIwllltlll.l'~lIflIlIonI. ~* EllIfI8IT c... - I~ ""- nn P""'n ~.,~h ndv. '17 . V.il, C:~ln"rln R1H7 ohn,,0910-H9''1949 fu970..479..5395 [3 ~gIS9s~1R9 JRREVOCABLE STANDBY LETTER OF CREDIT L::trerofCreditNumber: 1159 Expintion Date: August 16, 2006 Date: AUgllst22,2005 BeneficiaryName: EagleCollIlty Address: PO Box 850 I 500 BOOIldway City, State, Zip Code: Eagle,C081657 ApplioantNlUlle: Woodward Conslruclion, lnc. AddrcBS: 770PolatoPatcItDrive#17 City,State,ZipCo<k: Vail,C081657 WeherebyissueourJrrcvocableStandbyLetterofcreditNo.1159inyourfavorinthe amoum of One HUlldred Forty One Thousand Seventy Six and 44/100 U.S. Dollan; (USn SI41,076.44)and expiring at the c!ose ofbllSineas {J:OOp.rn. MOWltain Timc) on Augus I 16, 2006 at Our counters at Colorado Business Bank, Loan Operations Depactment 3'" f)oor,821 11"' Street, Deliver, CO 80202. nus letter of credit is available by presentalioll of your draft(s) at sight, drawn on Colorado B...lnes& Bank, accompanied, in !he case of each such draft, by the original Jetter of credit and amendment(s),ifaoy. Specia1Conmtions: PartiaJ dl:awings are allowed. Allbanlcingohargesotherthantho,eofColOI1ldoBusinessBankllfo for the aocountofthe beneficiary. This Letter of Credit shalJ have a full and final maturity date ofAngusl J6,2006. EXHIBIT I l;P II --- ~ OOS6,d",,",V;II''I''91'd..I"fte 130. Edw""',ol"c,,"o61632 P.U."O'2'1'.I'O\l,","~CoI"'a"O",6l2 T.I, ~Io 9,' oa~l. F,,, 97~9:!fi.{iS06 ""''^''.<ob"b",k.,oo' We hereby agree with you that drafts drawn under and in accordance with the tenns of thisletterofcreditwiHbedulYhonoreduponpreseutationofdrafts(s)audreqUired document(s) at our office no Iarer then the cloj" ofbwiness (3:00 Mountain Time) at 821 17''' St., Loan. Operations Department 3"' floor, Denver, CoJorado 80202, U.S,A. on or before the expiry date of this LetterofCredil. UnJess otherwise exprcsslystated,lhis Jetter of credit and aJl negotiatiorn hereunder s hajj be go....med by and construed in accordance with the !ntemalional Standby Praotices lSP98, as published by the International Chamber of Commerce Publication No, 590, and, toth"exlenl not inconsistenl tberewith,the laws of the State of Colorado. This Jelter of credit is not transferable unless Colorado Business Bank agrees to the trallsfer in writing. Please direct any inquiries with regard to this LetterofCredil tD CoJoradoBusiness Bank, Loan Operations Department, 821 17" Street, Denver, CO 80202 (303)293-2265. 'Z U/" h__ '" FIRST A:\tENDME/I,'T TO PUBLIC IJ\IPROVEl\1ENTS AGRJ.:El\1ENT ~'OR ED\\'ARDS DESIGN & CRAFT CE/I,TER PLn GRADING PERJ\UT File:"io.J\U-I2025 nus FIRST AJ\1ENLlMEJIro~l' to lhe Public Improvements Agreemenl for Edwards De,ign & Craft Cenler PUD Grading Permil, File No, MI.I~025 is entered into lhis L day of I{Jil, I ,2006. by and between the Board ofColJIlty Conuni'sioners oEthe Connly of Eagle, Stale of Coloradu (hereinafter "County") and Woodward COn.llruction, Inc. (hereinafter "Developcr"). WITNESSETH WHEREAS, Developer and County enlered into a Public Improvements Agreement for Edwards De.'ign & Craft Center PUD Grading Permit. File No, MI.12025 on Augu~t 19, 2005 as a condition of approval of the Edward, Design & Craft Cenler PUD Grading Pennil. File Nu. MI.12025 (hereinafter "Agreement"); and WHEREAS, Section 1.5 of the Agreement provided that lhe date of completion oflhe public improvemenl,.,haIl becompleled prlor lu Febn,ary 1,2006;and WHEREAS, the County and Developer desire 10 amend the Agreement lu ref/ecl a revised complelion dale (jee Exhibit "X' altachcd hereto); and WHEREAS, the COllnty and Developer desire to enter into a Subdivi,iun Improvements Agreement which agreement will incorporale the eOSI of the public improvements reql1ired by the Edward, Design & Craft Cemer PUD Grading Permit, File No.MI-12025. AGREEMENT I. Section J.5 of the Agrecmcnt is hereby amended tu read a.l follow.l: Date of Completion. All Public Improvements rcql1ired WIder the Grading Pelmil Nu. MI-12025~hall be completed prior to March 1.2007. 2. The Cuuntyand Developer agrce to elller into a Sllbdivision Improvemenl' Agreement which agreement will incorporate the costs of Lhe public impru\'emelllS required by Edwards Design & Craft Cemer PUD Grading Permit, File No,MI-12025. J. All other lenn, and conditions of the Public Illlpruvement~ Agreement for Edward, Design & Craft Center PUD Grading Pennit, File No, MI.]2025 shall remaininfl1lJforceandeffect. IN WITNESS WHEREOF. the pur1ies hereto havc e,\ccuted this First Amendment the day and y~ar first "hovc written, COUNTY, ATTEST:~: ;' ~~." -C", / . . - """. Teak I. Simonton ~, " PelerF_ Rmlyon, Chairman Clcrk to the Board of County Commissioners DEVELOPER: WOODWARD CONSTRUCTION. !NC. ::J -, By~-E"" , Yi:\'L.~" "---':>", ~ '-'---\,..'0, '(vr'<;",,,,,_~i- StatcofColorauo ) )ss: County of Eagle ) , "f, ^ Th.e foregoing was aekno,;ledged ,:":fore me this . i>' day of ?~1 it' _~, 2006by-<:.,I/..,.,-,.-.t/) as (;";',,-y',vl otV,oodwardComtruellon,lnc, /1,.-;/ "'",,-,,, ,/ '/~,!lJ'''-'' ,Notary Public . G,UKS\^,''''mffi~,F-4''=I. F;', No. G_!nill_.1~ ""'~O"'''';'5iGl1 E'piras2N2(Jl0 , MEMORANDUM EAGLE COUNTY ENGINEERING TO: Janice Scofield FRO:\I: GregScnroeder, EngineeringDLl'artmenl (, DATE: Monday,~larch27,2006 RE, Grading Pennit MT-12025. Edwards Design & Craft Cenler, EXlcnsjon to Expiration Date I aminreceiptofalcl1erdatedl\tarch14,2006 from Phil Woodward requeslingall eXlcnsionlolheabovementionedgrJdingpermit. Pleasenorethateacnpel111ithasan associaledP1A with ir, Specifically, in the language of each pen nil, is Section 1.5,Dale of Completion. The Engineering DL'Partmenr recommends lhat the date oflhis seclion be amerlded to lhe permit expiration dale, which is now :\.farch 1, 2007, # # # xc: Helen Migcnelbrink,CountyEngillecr ChronO.,'File EXHIBIT I 'cjJf/ , 'O'GREG"""''''D'''''""",',",~,,,,,,",,,,,,,,,,_,,,,<o,,,,,,,_~,,,,,,,,,,, @ ~gIW,~rW,~ - ~--'_..._...__.__..- -- --- --- ---"--- -"'--'- IRRI:VOCARLE STA."iDRY LETTER OF CREDrT Letter ofCl'cdit NumhlOr; 1225 Expiration Date: AuguSl 16,2006 Date: April 14,2006 Bcnc!iciaryXame: f'aglcCounty Addr",ss: P.O. Box R50 Cit:y, Slute, Zip Code: Gagk,COR16JJ Applicllllt0.'ame: Woodward Construction, Inc_ Address: 770 Pulmo PHtch Dr. #17 Cit:;',Stute.ZipCodc: "\'aiLCOgI657 \Ve herehy issue ('!If Jrrevucabk Standby LIOUel' o!'Cl'cdit No. 1225 in your favor in the lllllount ofhwl Hundred Fifty Six Thous,md One Hundred Sevenly Seven dollars and Forty Four C",nls U.S, Dollars (USn ~256,177.44) and expiring at the close of business (3;00 p.m. Mountain lime) on August ]6, 2006 at Olll' COllnters at Colorado Flllsinc~s Bank, Loan Opcnltion~ n"parlment 3rJ floor, 821 17''' Stre"t. Dcnver. CO 80l02. Tnis JcH"r of credit is available by presentation ufyour dra!l(s) at sight. dra\\TIon Colorado Business Bank, accompanied, in tne case ofcachsuehdraft. bytheoriginulktteroferedit and amendment(s), ifany Sp",cialConditions: Partial draWingsar",aJlowed, All banking eharge~ other than th(lSe or Colorado Busines~ Bank are Ji.1r the account oftne bencliciary_ Tnis Letler ofCr",ditwilJ haw a full ,md fimll expuation date of August ]6.2006. EXHIBIT I .. C"l -..----.-..- --'- OO';6EdwordsVillag@Blvd"Suite1Jo.fdward5.Colo"do81632 P_O. Box2S26. ,dward5, Co1QQdoSl!;32 Tel:9,O.9?6,6801.Fax:970.9l6,6Il06 0~gM?5~1RS -- - --- --._-._---- -------.- --'-'--'- Letter ofCr~di[ \.lo. 1125 Pg.2 We h"'reby agree with you that draft, drawn under and in accordance with Ihe krms of this ktter of credit will be dllly honored upon presentation ordrafts(s) and required docum~nl(s) at our omce no later than the dose of bllsines, (3:00 p,m. Muuntain Time) at 821 17~1 St., Loan Op~ra[illns Department 3rd floor, Denver, Colorado 80202, l),S.A. 0norbeforethec~pirYdate oflhisLctterofCredit. IJnk~s otherwise expr~~sJy stHled, thi~ Jetter of credit and all negotiations hereunder shall be governed by and constmcd in ac~ordan~e Wilh the Internalional Standby Pradicc~ iSP98. as Pllblished by the Illlernatiolla! Chamber of Commerce Publication No. 590, and, to [he eXkntnot inCOIlSlstent lher~witll, the laws of the State of Colorado. This ktter of er~dit is nut trWlsferable llnless Colorado Busin~ss Bank agre~, to the transkr in writing. Please dircd any illqlliries with regard to this Lettcr of Credit to Colorado Hllsiness Bank. Loan Operalions Department. 82117'11 Strect. Dcnver. CO 80201 (303)293-2165. ColuradoBllsine~s Bank, ,), ~. ,~/A//-J ,,>><<:/ V,. , vtarr{(e~17 - VicePresidcnl -..-.------.. . - ,- 0056<dword'Vill.gealvd"Suit.1JO'Edwards,(01~'.d081632 -- P.O, 80,2826 . Edwacds, (01~r.d081632 ToL970.926.6801.F.x:970.926.o806 [jJ ~gM?\~1P,\: ---- - - -- ---'--"'--"'--- lRRrVOCARLE STANlllJY LF.1TER OF CREllTT LelterolTl'edilNumber: ]226 Expiration Date: Augll';l 16,2006 Datc:ApriI14,1006 BeneliciaryName: F,aglcCoulllY Address: P.O. Box 850 City, Slate, Zip Code: Eagle, CO 81631 Applicant Name: \VoodwardConSl1'lIClion,lnc. AJdrcss: 770 Potato Patch Dr.itl7 City, State, Zip Code: \'a1L(,081657 Wcberebyi_>sucourlrrevocableStanubyLettel'oITrcditNo_1226inyourlavorinthc amollnt of 1\'10 Ihmdred Thou5anu ?\line Hundred Thineen dollars and Forty One Cents U.S. Dollars (FSD $200,913.41) and expiring at lhe clo~e or business (3:00 p_m. Mountain Time) on August ]6, 200G at Our counters at ('o]or<ldo Ausincss Bank, Loan Operations [)epartment 3'J floor, 82] 17"' Street, Denver, CO 80202. lhh lettcr of credit is uvailahle by prescntation ufyour draJt(s) at sight, drawn on Colorado Bu~iness Flank, accompanied, in the ease ufeach sllch draft, bytheuriginallctterofcredit and amendment(sJ, ifan}'_ Spcci,lICondilions: Partialdrawings~reallowed_ All banking chm:gcs othcr than those of Colorado Businc_>s Bank arc for thc a~counl ,-,fthe bencfi~iary, Thh Lettcr of Credit will havc a fuH and final expiraliondalc of August 16, 2006. ----- -----0056Edward,vill;,~eB"d.,SUi'" 130.Edw"d~~'~8163?--"- --- PO.8ol<;>BZ6.Edward"ColoradoB163;> T~I,970.926,6801 . Fax; 9/0,926 6806 [1,3 ~gl[;{?s~1?,~ ----- - '--"_._--_..~--. -"-"--"-"------- Lett~rofCrt:dit 1'<'0.1226 Pg.2 V.,re hereby agree with you that dralls drawn Lmder and in accord'lllcc with the tcmlS of this klkr of credit will be duly honored upon pre~entalion of drath(s) and rcqllircd documcnt(s) at our olTrce no lakr than tile dose of' bll~iness (3:00 p.m. Mountain Time) at &21 ] 7'11 SL Loan Opcnllion~ Department 3n' 1100r, Denver, Colorado 80202. lJ,S_A. on Or before the expiry darcof'this Letter of Credit. linle% oth'~nvis" expressly ~tatcd, this lctter of credit and all negotiations herclmder shall be governed by and cOnstrued in accordance with the International Standby Pnlctice~ lSP9N, u, publislled by the International Chamba of ('omlller<:e Puhlication No_ 590. and, to th" ext~ntnot incon~isWnttherewith. the laws oflhe State of Colorado. This kIter of credit is not tr~llsferable lmless Colorado Business Bank agrc~~ to th" translCr in writing, Pleas~ direct 'my in~\Iirie~ with regard to this LeUerorCr~dit to Colorado Business Bank. Loan Operations Department. 1\21 17'" Street, Denver, CO ~0202 (303)293-2265. Colorado Business Bank. / / ---~'--~--_., - .. - DO\&Edw"rd'Vill"ge~l,d, 1'.;[.130. Edw"rd" Colorodo816.Jl p.o. Bu, 2~16. ~d\v",d" ColQrado 81632 TeI;970.926.6801.fa.970.926,6806 CD ~,9,~9s~1R~ ----,-._- - - ---..--.----..----- ..---.-.----..---- -- 'RR~:VOC.\BLE STA,'l/llBY LETTER OF CREDIT LCll~rofCredjl Numher: 1227 J..;xpirationDatc, Augusl 16.2006 Date: April 14.2006 B~neficiary \i~me: E~gle County A<ldres~: P.O. ilox 850 Cily,Stak, Zip Code: bgle,C08163! Applicant Name: Woodw"rd Cllnstruction, Inc. Addr~ss: 770 Pola(o Patch Dr, ;'i17 City. State, lip Code: VaiL CO 81657 We hcr~by b8ue our Irrevocahle Standby LettnofCredil No. 1127 in YOllr favor ill the amount of On~ Hundred Thirty Eight Thousand Four I!llndr~d Sixty Eight dollars ami Ninety Cents U.s. Dollar~ (VSD $138,468.90) and expiring at the close ofbu.>ille~s (3:00 p.m. r.luunt~in Time) on August 16, 2006 at our COllnters at Colorado Business Bartle I.(lan Operations D~parlment 3'" floor, 82117'11 Street, Denver, CO 80202. Thi~ lettcr of credit is available by presentation ufyollrdmft(s) M sigh!, dra"ll on Colorado Business llank. accompanied, in the ease or each ~uch draft, by the original Idler of credit and ammdment(s), irany_ Special Conditions: Partial drawings are aJlowed. All banking ch~rges other than those ofCllJorado Business Bank are for!heaecoun!ofthebenellciary_ This l_etter of Credit \\'iJI have a flllJ ami fin~l exrir~tion datc of Augllst 16.2006_ -.-.-----.-- 0056-'E'Jw"ra,vill,)~,Suite13o'fdWO[d;,(ol~;~doBim- P.O, ~o')826 .E,lw~ra,. Colot.do81632 rel'910.92&.61lO1'Fa"970_92D.61lO6 o ?=g,S9s~1P,~ --.-.---...------ -'--'--.--- --"-- ----'----._- Letter of Credit No. ]227 Pg.2 Vie hneby agree ,,'jlh youlhat drafts drawn under and in acwrdancc with the terms of this lcUerofcredil will be duly honored LIpon presentation ofdrafNs) andrcqllired documcnt(s) at our o[fice no later than theclo~eofhusjness (3;00 p,m. r.follntain Tim",) at 821 ] 7'1\ St, Loan OperatiOllS Department 3,d floor. Denver, Colorado 80202. U.S.A. on or before the e:<piry dak of this Lctler of Credit. UnJess othenvise expressly stakd, thisJetterorcrcditallJallnegotiatjollsherellnder~halJ be govcm<:xJ by and com/rued in accordance with the lnlernationaJ Standby Practices ISP98. a~ published hy the lnlemalional Chamber 01- Commerce Publication No. 5'10, and. tD the extent not illcol15islenttherewith, the Jaws oflhe Stat eofColorado. This Jetter of credit is not trrmsferabJc llnJcss Colorado Busmess Bank agrees to the transrerill\witing, Please direct any inquiries with regard to this Ldl~r of Credit to Colorado Business Bank, I.Dan Operations Deparlment, 821 17th Street, Denver, CO 80202 (303)293-2265. Colorado Business Bank, ~"~ /-: ,;,<; -- ~ //. . L~~ . Viee Presid~nt ---.---- 0056E'dward,vill"g"Brvd..s"jtolJO.Ed'W"'d\Cohado816~-- po. ~ox 2R26. Edwards, Colorado 816.l.! Tor, 910.916."~Ol . fOK 910 926.0806