No preview available
HomeMy WebLinkAboutC96-043 Vail-Arrowhead SIAt� X196 SUBDIVISION AND OFF-SITE INPROVEMENTS AGREEMENT BACHELOR GULCH VILLAGE FILING NO.2 o File Na PD -139-96-F z 0 L, a W0 C4 w co L) 0 �0 4-) cr)� r+ 0 Cq o� rn W .IF 0� 00 a� 1U) PQ .,i w oti C, -:t� 00Cd LOCri THIS SUBDIVISION AND OFF-SJTE IMPROVEMENTS AGREEMENT ("Agreement') made and entered into this day of February, 1996, by and between VAIUARROWHEAD, INC., a Colorado corporation (hereinafter "Subdivider') and the Board of County Commissioners of the County of Eagle, State of Colorado (hereinafter "County). WITNESSETH WHEREAS, on May 16,1995, Subdivider and County entered into a Road Improvements Agreement for Lower Bachelor Gulch, recorded in Book 667 and Page 575 of the Records of the Eagle County Clerk and Reoorder's office, to allow the Subdivider to improve the Roads prior to the approval of the final plat; and WHEREAS, the Road Improvements Agreement provided that the terms of said Agreement shall expire upon approval of the final plat and execution of a Subdivision Improve- ments Agreement; and WHEREAS, the Subdivider, as a condition of approval of the Final Plat of Bachelor Gulch Village, Filing No. 2, also known as Lower Bachelor Gulch (hereinafter referred to as "Subdivi- sion"), desires an Agreement as provided for by QRS. 30-28-137, which therefore terminates the above -referenced Road Improvements Agreement; and WHEREAS, pursuant to the same authority, the Subdivider 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 ("Subdivision Improvements'); and WHEREAS, pursuant to Section 2.20 of the Land Use Regulations of Eagle County, Colorado, 1982, as amended (' hereinafter referred to as Land Use Regulations!), when a proposed subdivision is located in an area serviced by an existing County road and the County determines that the traffic generated by such development will result in safety hazards for vehicle drivers, pedestrians and/or adjacent residents, orwill result in substantially increased maintenance costs to the County, the County is empowered to determine the amount of work necessary to bring the affected County road to acceptable standards to provide adequate safe service to present owners, to the proposed subdivision and to other probable subdivisions, and to require the Subdivider to improve its equitable portion of such road to an acceptably safe condition; and WHEREAS, the Subdivider and the County have determined that the traffic which will be generated by the Subdivision, will not impact an existing County Road; and WHEREAS, as a further condition of approval of the final plat of this Subdivision, the Subdivider is obligated to provide security and collateral sufficient in the judgment of the County to make reasonable provision for completion of the Subdivision Improvements, including but not limited to off-site road improvements, referred to herein; and WHEREAS, the Subdivider, in accordance with Eagle County Resolution 95-13, Approval of Preliminary Plan and Amendment to Arrowhead at Vail Planned Unit Development, Lower Bachelor Gulch Village, is further obligated to provide collateral for the construction of a paved trail (hereinafter "Bike Path"), through the property, north of and parallel to Colorado State Highway 6, as well as the associated "spur" trail, located on Development Area J; and WHEREAS, pursuant to Section 2.15.05 of the Land Use Regulations and C.R.S. 43-2- 147, the Subdivider shall provide access for all lots and parcels it creates to the state highway system in conformance with the State Highway Access Code. NOW, THEREFORE, in consideration of the premises and the covenants and agreements herein contained to be kept and performed by the parties hereto, it is hereby understood and agreed as follows: 1. SUBDIVISION IMPROVEMENTS. 1.1 Subdivision Improvements. Subdivision Improvements are deemed to include all public improvements, including but not limited to off-site improvements - including roads, utilities C+� and other similar public improvements. 1.2 Scope of Work. The Subdivider hereby agrees, at its sole cost and expense, to furnish all necessary equipment and material, and to complete all Subdivision 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 Subdivider prior to or at final plat 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, either directly or as set forth in Section 4 hereof. 1.3 Duties of Subdivider. For those Subdivision Improvements required herein, including but not limited to the reconstruction and physical improvement of that portion of any road subject to this Agreement, the Subdivider shall retain an engineer whose duties shall include construction staking, observation of construction for conformance to the approved plans and specifications, and materials sampling, testing and inspection using the Colorado Department of Highways 1990 Field Materials Manual as a guide for frequency of sampling and testing. -2- 584420 B-688 P-419 02/21/96 03:42P PG 2 OF 21 1.3.1 Construction Staking. Where applicable and by way of example only, the following is a highlighting of the construction staking that will be required of the Subdivider: a. Roadway - horizontal and vertical control every 50 feet or every 25 feet in critical areas, specifically including: -slope staking -points of curvature -points of tangency -fillet radius points -culverts -transition points for super -elevation finished sub -grade -finished gravel b. Water. Sewer. and Other Utilities - horizontal and vertical control every 100 feet, or every 50 feet in critical areas. 1.3.2 Testing . Where applicable and by way of example only, the following is a highlighting of the acceptance testing that will be required of the Subdivider. a. Utility trench backfill under roadwaynp isms - one density test per 200 C.Y. of backfill. This will require daily visits to the site by a testing laboratory when utilities are being backfilled within the roadway prism. This testing shall be accomplished whether the trench is for water, sewer, gas, electric, telephone, or cable T.V. b. Embankments for roadways - one density test per 2,000 C.Y. of any additional embankment(s). c. Finished sub -grade - one density test per 250 lineal feet of roadway. d. Aaareaate base course - one in-place density per 250 lineal feet of roadway, a, gradation and Atterberg Limits test per 2000 tons of aggregate base course. e. Hot Bituminous Pavement - two asphalt content, gradation and in-place density tests per day's production. 1163 584420 B-688 P-419 02/21/96 03:42P PG 3 OF 21 1.3.3 Notification/Road Construction. Subdivider or his Engineer shall notify the Eagle County Engineer for the purpose of arranging an on-site inspection no less than forty-eight (48) hours in advance of the following stages of road action: 1) Finished subgrade 2) Finished Aggregate Base Course 3) Asphalt Placement. The County Engineer shall make an on-site visit within the forty-eight (48) hours notification period for the purpose of observing proof rolls on items 1) and 2) above and for general observation of construction methods being employed at these stages. Said on-site inspection by the Eagle County Engineer shall in no way abrogate the duties of the subdivider outlined elsewhere in this Agreement. The subdivider 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 Subdivider'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 acceptance of the Subdivision Improvements by the County. In addition to witnessing of the horizontal location of these laterals, a vertical witness shall be required. Horizontal witnessing shall be to property comers, fire hydrants, manholes, and other "permanent" features. Vertical witnessing shall be based on depth below ground and elevation based on a datum used for the subdivision. Bench marks 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 Subdivider or its engineer. 1.4 Compliance with Colorado Department of Highways Access Code. Subdivider shall provide the County with designs in compliance with the Colorado Department of Highways Access Code for all road improvements. The designs shall be provided to the County at the same time as the right-of-way map which shall be provided pursuant to paragraph 4.3. 1.5 Date of Completion, All Subdivision Improvements shall be completed prior to April 30, 2000. • •• • • «-•1. A'- •i1" 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 Subdivider's engineer verifying the satisfactory completion of the work performed to date. -4- 584420 B-688 P-419 02/21/96 03:42P PG 4 OF 2 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 an on-site inspection of the work completed. 1.6.3 All said work shall be done to the reasonable satisfaction of the County Engineer and/or the County Department of Community Development, and shall not be deemed complete until approved and accepted as complete by the County. 1.7 Estimated Costs of Subdivision Improvements. The estimated cost of the Subdivision Improvements, as shown on the attached Exhibits, are as follows: Exhibit A - On Site: Exhibit B - Off Site: Exhibit C - Bike Path: COLLATERAL TOTAL: $7,447,151.50 $ 550,202.00 $ 73,840.00 $8,071,193.50 To secure and guarantee performance of its obligations as set forth in this Section 1, including the completion of the required Subdivision Improvements, the Subdivider hereby agrees to provide security and collateral in the form and as set forth in Section 2, below. 2.1 Collateral. Security and Collateral required in Section 1.7 herein, as security for the performance by Subdivider of its obligations under this Agreement shall be as set forth in Sections 2.1.1, 2.1.2 and 2.1.3, below. 2.1.1. Collateral for On -Site Improvements. Security and Collateral for those improvements as shown on Exhibit "A", shall be in the form of a plat note in substantially the following form: No lots within this Subdivision shall be sold, transferred or otherwise conveyed - nor shall any building permit be issued by Eagle County for these lots - until all of the improvements required under the Subdivision Improvements Agreement recorded in Book , at Page , are either (a) in place and approved by Eagle County, or (b) collateralized in the form as described in the Subdivision Improvements Agreement and Land Use Regulations and acceptable to Eagle County to secure the performance of the obligations as described in the Agreement. This Plat Note shall only be released by the adoption of a resolution so stating by the Eagle County Board of County Commissioners, to be recorded in the Eagle County Clerk and Recorder's Office. -5- 584420 B-688 P-419 02/21/96 03:42P PG 5 OF 21 2.1.2 Collateral for Off -Site Improvements. As a result of the Road Improvements Agreement, Subdivider installed certain off-site improvements prior to the signing of the Final Plat. Certain work has been completed and approved by the Eagle County Engineering Department; see Exhibit "D", attached hereto and incorporated herein by this reference. Therefore, Subdivider is granted a first partial release of collateral in the amount -of $471,401.60 leaving a collateral balance of $78,800.40 for those improvements set forth on Exhibit "B". Collateral for these remaining off-site improvements will be in the form of a letter of credit attached hereto as Exhibit "E" 2.1.3 Collateral for Bike Path. Security and Collateral for those improvements associated with the Bike Path, as shown on Exhibit "C", shall be in the amount of $73,840.00 and in a form as shown on Exhibit "F'. 2.2 Partial Release of Collateral. Subdivider may apply to the County for the release of portions of the Collateral based upon work completed in accordance with this Agreement. To make such releases, Subdivider 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 Final Release of CollateraMrra*. Within thirty (30) days after Subdivider has completed all of the work required by this Agreement and the work has been approved and accepted by the County, the entire remaining amount of the Collateral, less an amount equal to ten percent (10%) of the original Collateral, shall be released. Subdivider shall be responsible for the condition of the Subdivision Improvements for a period of two years after completion; this shall be guaranteed either through the retention of Collateral, as set forth above, or Subdivider 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 Subdivider may at any time substitute the Collateral originally deposited with the County herein, for another form of collateral acceptable to the County, to guarantee the faithful completion of the Subdivision 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 Subdivision Improvements as described herein, and collateral shall be submitted by the Subdivider in accordance therewith. 2.5 Draws. Draws against the Collateral shall only be made as directed by written Resolution of the County, stating that there has been an event of default under this Agreement and that a sum certain is required to remedy the default. Any amount drawn on the Collateral must be applied for the purpose of completing the work required by this Agreement and related expenses and costs. 0 584420 B-688 P-419 02/21/96 03:42P PG 6 OF 21 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 Subdivider 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 Subdivider, 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 Subdivider 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 Sub&dder's responsibility, with or vAdx t Wice, tD ensure that the Collateral is extended, or that subskft collateral is provided in a forrn acceptable to the County, at least ten days prior th its expiration 2.6.3 If the Collateral is substituted, as otherwise provided herein, this Agreement may be amended or modified in order to set forth specific Events of Default deemed necessary, in the County's sole discretion, commensurate with the type of collateral substituted. 2.7 Costs and Expenses. Subdivider agrees to pay any costs and expenses, including but not limited to legal fees, which the County may incur in determining to accept collateral, in drawing upon the Collateral, or in accomplishing an extension of its expiration. 2.8 Lien Waivers. In addition to the Collateral described herein, the Subdivider shall insure that all public improvements are free of liens of any kind. Subdivider shall provide lien waivers satisfactory to the County prior to the release of any collateral. RKNUZZO -W, [BLOR411• 3.1 Indemnification. Subdivider shall indemnify and hold the County harmless from any and all claims made against the County by any contractor, subcontractor, material men, employee, independent contractor, agent or representative involved in the work necessary to comply with this Agreement, or on account of any other claims against the County because of the activities conducted in furtherance of the terms of this Agreement. This indemnification and hold harmless provision shall include any legal expenses or costs incurred by the County. -7- 584420 B-688 P-419 02/21/96 03:42P PG 7 UP 21 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 Subdivision and/or Subdivision 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 Sub- division Improvements, but all of said liabilities shall be and are hereby assumed by the Subdivider. The Subdivider 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 Subdivider hereunder; and the Subdivider 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 Subdivider may have. 4. CONDEMNATION. 4.1 Right-of-Wayquisition. Subdivider has previously secured all necessary land rights-of-way or easements for the construction of the required off-site improvements. 4.2 Condemnation. Condemnation proceedings will not be necessary for this Subdivision. 4.3 Rig_ht-of--M Map. A right-of-way map is not necessary for this Subdivision. ► ' * The following shall apply to all Subdivision Improvements, including off-site improvements, set forth in this Agreement: 5.1 Compliance with Land Use Regulations. The Subdivider 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 \�, as the same are in effect at the time of commencement of construction of the Subdivision Improvements referred to herein. 5.2 Subdivision Improvement Agreement Controls. In the event of any inconsistency or incongruity between the provisions of this Agreement and the Land Use Regulations, the provisions of this Agreement shall in all respects govern and control. M 584420 B-688 P-419 02/21/96 03:42P PG 8 OF 21 5.3 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 Subdivision Improvements during which time the Subdivider shall promptly correct or remove and replace, in accordance with the County's written instructions, defective work or materials and consequences thereof. Repair or replacement made under the two-year correction period shall bear an additional one-year correction period from the acceptance of the repair or the replacement by the Eagle County Engineer. The work shall be collateralized during the correction period in an amount and type of collateral as shall be reasonably determined by the County. The work shall be inspected, at the request of the Subdivider, no less than sixty (60) days prior to expiration of the one-year additional correction period, and any deficiencies shall be noted to the Subdivider. 5.4 Approval of Final Plat. The County agrees to the approval of the final plat of this Subdivision, subject to the terms and conditions of this Agreement. 5.5 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. 5.6 Assignaby. This Agreement shall be enforceable against the Subdivider, provided, however, that in the event the Subdivider sells, transfers or assigns all or part of the subject Sub- division, the obligations of the Subdivider under this Agreement as to that portion of the subject Subdivision may be assumed in writing by the purchaser of the parcel, and the Subdivider shall have no further obligations hereunder. It is agreed, however, that no such assumption of these obligations shall be effective unless the County gives itsiso written approval to such assumption following an investigation of the financial condition of the purchaser. The Subdivider shall not otherwise assign, transfer, convey, pledge or otherwise dispose of this Agreement without prior written consent of the County, which consent shall not be unreasonably withheld. 5.7 Binding upon Successors. This Agreement shall inure to the benefit of and be binding upon the parties hereto, their respective successors, and assigns. 5.8 Sole Respgnsibility of Subdivider Prior to Cou* Acceptance. It is further agreed and understood that at all times prior to the completion and acceptance of the off-site Subdivision 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 Subdivider. When it is neces- sary to allow the general public to utilize the roadways under construction by the Subdivider, traffic control and warning devices shall be placed upon such roadways by the Subdivider 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. M 584420 B-688 P-419 02/21/96 03:42P PG 9 OF 21 5.9 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. 5.10 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. IN 1MTNESS WHEREOF, the parties hereto have executed this Agreement this c ']CL, day of February, 1996. nwfACOUNTY OF EAGLE, STATE OF COLORADO, •By and Through Its r.tATTEST: BOARD OF COUNTY COMMISSIONERS By: Clerk to the Board Yof County Commissioners a Georg es, Chairman Address for giving notice: P.O. Box 850 Eagle, CO 81631 (303) 328-8685 SUBDIVIDER: VAIL/ARROWHEAD, INC., a Colorado oomoratiorY name ja) (es l�w..ae Title: I 1/, c e eves CIPK t Address for giving notice: P.O. Box 7 Vail, CO 81658 -10- 584420 B-688 P-419 02/21/96 03:42P PG 10 OF 21 STATE OF COLORADO ) )ss County of Eagle ) The foregoing was acknowledged before me this day of February, 1996, by Taffies s. 'qq "1A1 as Vee of VaiVArrowhead, Inc., a Colorado corporation. WITNESS my hand and official seal. My commission expires File #83-152 y P JANE WRIGHT OF CO' Nq#ary Public 584420 B-688 P-419 02/21/96 03:42P PG 11 OF 21 -11- 584420 t� BACHELOR GULCH FILING NO, 2 ESTIMATED INFRASTRUCTURE COSTS February 7, 1996 ALPINE ENGINEERING INC ITEM DESCRIPTION UNIT QUANTITY UNIT COST TOTAL MOBILIZATION L.S. 1 80,000.00 $80,000.00 CLEARING L.S. 1 30,000.00 $30,000.00 1 EARTHWORK 2 ITopsoil Remove & Replace C.Y. 48891 4.00 $195,564.00 3 Excavation C.Y. 92435 4.50 $415,957.50 4 Embankment C.Y. 215306 1.00 $215,306.00 5 Borrow Excavation. Haul & Embankment C_Y. 122871 5.00 $614,355.00 S IGuardrail L.F. 8821 37.00 $328,377.00 7 1 Guardrail Anchors EA 24 500.00 $12,000.00 8 1 Rock Excavation C.Y. 980 20.00 $19,600.00 SUBTOTAL $1,799,159.60 1 ASPHALT & ROADWAY BASE 2 Asphalt (4" TON 9917 36.D0 $347,095.00 Ag negate Base Course (8") SUBTOTAL TON 26520 14.00 $371,280.00 $718,375.00 CURB AND GUTTER LF 4645 17.00 $78,965.00 SLOPE PROTECTION 8 EROSION CONTROL 1 Silt Fence L.F. 15270 4.00 $61,080.00 2 Rip Rep Ditch SUBTOTAL i. —Y. 5D 35.00 $1,750.00 $62,830.00 DRAINAGE STRUCTURES, PIPES AND FITTINGS 1 6" DIP LF 1 73 40.00 $2,920.00 2 CMP 18" LF 1863 45.00 $83,835.00 3 CMP 24" L.F. 159 50.00 57,950.00 4 CMP 36" LF 211 60.00 $12,660.00 CMP End Section EA. 60 350.00 $21,000.00 6 Road Subdrain L.S. 5 75,000.00 $375.000.00 7 Detention Pond EA 4 15,000.00 $60,000.00 r15 SUBTOTAL $563,365.00 RETAINING WALLS Stone Veneer MSE Retaining Wali S.F. 44502 43.001 $1,913,586.00 ROADS SUBTOTAL 1$5,246,280.50 1 B-688 P-419 02/21/96 03:42P PG 12 OF 21 EX BIT K BACHELOR GULCH FILING NO.2 ESTIMATED INFRASTRUCTURE COSTS February 7, 1996 ALPINE ENGINEERING INC ITEM DESCRIPTION UNIT QUANTIr( UNIT COST TOTAL WATER SYSTEM I Water Storage Tanks GAL 500000 $ 1.25 $ 625,000.00 2 PRV EA 3 $ 20,000.00 $ 150,000.00 3 Booster Pump Station EA 3 $ 100,000.00 $ 300.000.00 4 6" DIP LF 363 $ 40.00 $ 15,320.00 5 12" DIP LF 14748 $ 50.00 $ 737,400.00 6 16" DIP LF 3540 5 55.00 $ 194.700.00 7 Fire Hydrants EA 13 S 3,400.00 $ 44,200.00 7 Water Service EA 39 $ 750.00 S 29,250.00 8 Clearing LS 1 $ 5,000.00 $ 5000-00 9 Reve atation LS 1 $ 2,500.00 $ 2.500.00 10 Rock Excavation LS 1 $ 5,000.00 $ 5000.00 11 Dewatering LS 1 $ 5,000.00 $ 5,000.00 SUBTOTAL S 2,023,370.00 SEWER SYSTEM 1 8" PVC _ LF 15420 $ 40.00 $ 616,800.00 2 8" Yelomine LF 1253 $ 50.00 $ 62,650.00 3 Manhole EA 126 $ 2,200.00 $ 277,200.00 4 lCleanouits EA 12 $ 300.00 $ 3,600.00 5 Sewer Services EA 34 S 750.00 $ 25,500.00 6 Clearing LS 1 $ 5,000.00 $ _ 5,000.00 7 Revegetation LS 1 $ 2,500.00 $ 2,500.00 8 Rock Excavation LS 1 $ 5,000.CO $ 5,000.00 9 Dewatering LS 1 $ 5.000.00 $ 5,000.00 SUBTOTAL $ 1,003,250.00 SHALLOW UTILITIES 1 Trenching LF 36301 $ 17.00 $ 617,117.00 '2 Electric Conduit and Cable LF 21550 $ 4.00 $ 88,200.00 3 Telephone LF 16900 $ 600 $ 101,400.00 4 Cable TV Conduit and Cable LF 20000 $ 3.30 $ 66,000.00 5 Gas LF 10500 $ 15.00 $ 157,500.00 6 jElectrical Splic Vault Feeder. EA 20 $ 1,800.00 $ 36,000.00 7 Electrical Transformer Pad, Base and Vault, UMI -31 EA 2 $ 1,800.00 $ 3,600.00 8 Electrical Transformer Pad, Base and Vault EA 15 , $ 1,600.00 S 27� 000.00—' 8 Single Phase Transformer EA 15 $ 3,000.00 $ 45,000.00 10 3 -Phase Transformer EA 2 , 5 12,500.00 $ 25,000.00 11 Switchgear EAI 2 $ 10,000.00 $ 20,000.00 12 Rock Excavation LS 1. $ 2.000.00 $ 2,000.00 13 Revegetation LS 1 $ 1,000.00 $ 1,000.00 SUBTOTAL $ 1,187,817.00 UTILITIES SUBTOTAL $ 4,214,437.00 ROADS SUBTOTAL $ 3,232,714.50 ROADS AND UTILITIES TOTAL $ 7,447,151.50 584420 B-688 P-419 02/21/96 03:42P PG 13 OF 21 BACHELOR GULCH TRACT B ESTIMATED INFRASTRUCTURE COSTS February 7, 1996 ALPINE ENGIJEERING 'NC ITEM DESCRIPTION UNIT QUANTITY UNIT COST TOTAL MOBILIZATION LS 1 20,000.00 $20,000.00 CLEARING LS 1 20,000.00 $20,000.00 EARTHWORK 1 Topsoil Remove & Replace CY 7476 4.00 $29,904.00 2 lExcavation CY 16210 4.50 $72,945.00 3 Embankment CY 40605 1.00 $40,605.00 4 Borrow Excsvation, Haul & Embankment CY 24395 5.00 $121,975.00 5 Guardrail LF 911 37.00 $33,707.00 6 Guardrail Anchors EA 4 500.00 52,000.00 7 Rock Excavation CY 1 20 20.00 $400.00 SUBTOTAL $301,536.00 ASPHALT & ROADWAY BASE 1 Asphalt (5") TON 2083 35.001 572,905.00 2 Aggregate Base Course (8') TON 4509 14,001 $63,126.00 SUBTOTAL $136,031.00 CURB AND GUTTER LF 1885 17.00 $32,045.00 1 Sidwelk SY 352 15.00 $5,280.00 SUBTOTAL $37,325.00 SLOPE PROTECTION & EROSION CONTROL 1 Slit Fence LF 1600 4.00 $6,400.00- 2 Rip Rap Ditch SY 50 35.00 $1,750.00 SUBTOTAL $8,150.00 DRAINAGE STRUCTURES, PIPES AND FITTINGS 1 CMP 18" LF 127 45.00 $5,715.00 2 CMP 2+4" LF 106 50.00 $5,400.00 3 CMP 48" LF 193 85.00 $12,545.00 CMP End Section EA 10 350.00 $3,500.00 P SUBTOTAL $27,160.00 ROADS SUBTOTAL $550,202.00 584420 B-688 P-419 02/21/96 03:42P PG 14 OF 21 EXHIBIT C!1 13 12/20/9! 16:32 a 970 645 0573 Dennis Hnaerson r•w4 Dennis Anderson Associates, Inc. Landscape Architecture • Planning • Visual Communication Arrowhead / Hwy.#d Bicycle / Pedestrian Path Cost Estimate Future Phase Areas May 2, 1995 j Item I - BIKE / PIDESTRIANPATH Asphalt Path (10' wide West End Asphalt Path (10' wide Lane) East End TOTAL City. Unit 00st ,Total 1.360 Ln.Ft. $23.00 $31,280.00 1,330 Ln.Ft. ($32.00. � ..$42,560.00 473,840.00 584420 B-688 P-419 02/21/96 03:42P PG 15 OF 21 P.O. Box 1387 Edwards, Colorado 81632 @-(970)845-9867 Fax.• (970) 845-0573 EXHIBIT MEMORANDUM EAGLE COUNTY ENGINEERING TO: Maureen Amundson, Attorney's Office FROM: John Althoff, Engineering JIQ DATE: February 14, 1996 RE: Bachelor Gulch, F2, Tract B (Off-site) Received a collateral release request from Rob Lee of Alpine Engineering for Bachelor Gulch, F2, Tract B on February 9, 1996. Have been receiving test results all through the summer on construction in Filing 2. Would suggest a first partial release of $471,401.60 leaving a collateral balance of $78,800.40. xc: George Roussos Chrono/file 584420 B-688 P-419 02/21/96 03:42P PG 16 OF 21 EXHIBIT V COLLATERAL RELEASE SUMMARY SIA: Bachelor Gulch, F2, Tract B (Off-site) DATE: February, 1996 ORIGINAL AMOUNT COLLATERALIZED Mobilization Clearing Topsoil Excavation Embankment Excavation & Embankment Haul Guardrail Guardrail Anchors Rock Excavation Asphalt Aggregate Base Course Curb & Gutter Sidewalk Silt Fence Riprap Ditch CMP 18" CMP 24" CMP 48" CMP End Section TOTAL IMPROVEMENTS COMPLETED: $523,779.55 10% RETAINAGE $ 52,377.95 FIRST RELEASE $471,401.60 ORIGINAL SIA: $550,202.00 FIRST RELEASE: $471,401.60 REVISED COLLATERAL: $ 78,800.40 $ 20,000.00 $ 20,000.00 $ 29,904.00 $ 72,945.00 $ 40,605.00 $121,975.00 $ 33,707.00 $ 2,000.00 $ 400.00 $ 72,905.00 $ 63,126.00 $ 32,045.00 $ 5,280.00 $ 6,400.00 $ 1,750.00 $ 5,715.00 $ 5,400.00 $ 12,545.00 $ 3,500.00 $550,202.00 584420 B-688 P-419 02/21/96 03:42P PG 17 OF 21 AMOUNT OF IMPROVEMENTS COMPLETED $ 20,000.00 $ 20,000.00 $ 29,904.00 $ 72,945.00 $ 40,605.00 $121,975.00 $ 33,707.00 $ 2,000.00 $ 400.00 $ 51,762.55 $ 63,126.00- $ 32,045.00 $ -0- $ 6,400.00 $ 1,750.00 $ 5,715.00 $ 5,400.00 $ 12,545.00 $ 3,500.00 $523,779.55 FEB -20-1996 12:36 COLO NAT BANK-INT'L BKG I Colorado. Jational Bank 950 Seventeenth Street Denver, Co 80202 303 585 4450 P.04 IRREVOCABLE LETTER OF CREDIT NO. A5951 Date: February 20, 1996 Board of County Commissioners County of Eagle State of Colorado P.O. Box 850 Eagle, Colorado 81631 Gentlemen: We hereby open our Irrevocable Letter of Credit in your favor, available by draft(s) at sight drawn on: Colorado National Bank, 950 17th Street, Denver, Colorado 80202 for any sum or sums not exceeding in total the sum of USD 78,800.41 (Seventy Eight Thousand, Eighst Hundred and 41/100 U.S. Dollars). For the account of The Vail Corporation, 137i Benchmark Road, Avon, Colorado 81620. For the purpose of guaranteeing construction of public improvements required by the county of Eagle,;State of Colorado pursuant to that certain Subdivision and Off -Site Improvements Agreement dated February 20, 1996, between the County of Eagle, Colorado and Vail/Arrowhead, Inc, relative to Bachelor Gulch Village Filing No.!2 Subdivision. Each draft drawn on Colorado National Bank, 950 17th Street, Denver, Colorado 80202, at sight, shall be endorsed on the reverse side of this Letter of Credit and bear upon its face "Drawn under Letter of Credit No. A5951 dated February 16, 1996 of Colorado National Bank," and shall be accompanied by a Resolution of the Board of county Commissioners of Eagle County certifying: 1. that there has been a default under thatcertain Subdivision and Off -Site Improvements Agreement dated February 20, 1996, and 2. that a sum certain is required to remedy the default. Colorado National Bank agrees with the drawers, endorsers and bonafide holders of drafts drawl and negotiated in compliance with the terms of this Letter of Credit that such drafts will be duly honored upon due presentation at the counters of this Bank. ( page 1 of 2 ) :EXHIBIT `=?. 00 I'D 0 0 ro w FEB -20-1996 12:3? COLO NAT BANK-INT'L BKG . \V�e Letter of Credit No. A5951 584420 303 585 4450 P.05 Colorado National Bank represents and warrants to the County of Eagle that it has the full authority and power to issue this Letter of Credit to the County of Eagle, State of Colorado, in the total amount and for'the period of time stated herein, said authority being pursuant to the laws of the United States, or the State or -territory which governs the establishment and regulations of Colorado National Bank charter, by-laws and other applicable rules and regulations adopted pursuant thereto. Should it be necessary for the County of Eagleto file suit in an effort to enforce this Irrevocable Letter of Credit, Colorado National Bank 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 28, 1997. very truly yours, Colora National ank + A— Richard A. Koniar Assistant vice President Colorado National Bank (page 2 of 2) B-688 P-419 02/21/96 03:42P PG 19 OF 21 TOTAL P.05 FEB-20-1996 12:36 COLO NAT BANK—INT'L BKG qj1 Colorado milational Bank 960 Seventeenth S 1M Denver, CO 80202 303 585 4450 P.02 IRREVOCABLE LETTER OF CREDIT NO. A5950 cn Date: February 20, 1996. w 0 Board of County Commissioners County of Eagle State of Colorado �' P.O. Box 850 rn Eagle, Colorado 81631 00 Gentlemen: 'b i We hereby open our Irrevocable Letter of Credit in your favor, available by draft(s) at sight drawn on:Colorado co National Bank, 950 17th Street, Denver, Colorado 80202 for any sum or sums not exceeding in total the sum of USD 0 73,840.00 (Seventy Three Thousand, Eight Hundred Forty and No/100 U.S. Dollars). For the account of The Vail Corporation, 137•Benchmark o Road, Avon, Colorado 81620. For the purpose of guaranteeing constructionof public 0 fO improvements required by the County of Eagle, State of Colorado pursuant to that certain Subdivision and Off -Site Improvements Agreement dated February 20, 1996; between the County of Eagle, Colorado and Vail/Arrowhead, Inc, b relative to Bachelor Gulch Village Filing No. 2 Subdivision. Each draft drawn on Colorado Natibnal Bank, o 950 17th Street, Denver, Colorado 80202, at sight, shall be endorsed on the reverse side of this Letter:of credit and bear upon its face "Drawn under Letter of Credit No. O � A595o dated February 16, 1996 of Colorado National Bank," and shall be accompanied by a Resolution of the Board of �v , County Commissioners of Eagle County certifying: 1. that there has been a default under that pertain Subdivision and Off -Site Improvements Agreement dated February 20, 1996, and 2. that a sum certain is required to remedy the default. Colorado National Bank agrees with the drawers, endorsers and bonafide holders of drafts drawn and negotiated in compliance with the terms of this Letter of Credit that such drafts will be duly honored upon due presentation at the counters of this Bank. (page 1 of 2) EXHIBIT FEB -20-1996 12:36 COLO NAT BANK-INT'L BKG 303 585 4450 P.03 Letter of Credit No. A5950 Colorado National Bank represents and warrants to the County of Eagle that it has the full authorityand power to issue this Letter of Credit to the County of Eagle, State of Colorado, in the total amount and forfthe period of time stated herein, said authority being pursuant to the laws of the United States, or the State orterritory which governs the establishment and regulations of Colorado National Bank charter, by-laws and other applicable rules and regulations adopted pursuant thereto. Should it be necessary for the County of Eagleito file suit in an effort to enforce this Irrevocable letter of Credit, Colorado National Bank 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 28, 1997. very truly yours, Color do National BAnk Richard A. Koniar Assistant Vice President Colorado National Bank l� (page 2 of 2) 584420 B-688 P-419 02/21/96 03:42P PG 21 OF 21