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Home My WebLink AboutC19-380 Consent to assignment of SIA Tree FarmDocuSignEnvelopeID:EFF52D4E-3720-4490-A333-E9B2F858BEAECONSENTTOASSIGNMENTANDASSUMPTIONOFSUBDIVISIONIMPROVEMENTSAGREEMENTFORTHETREEFARMPLANNEDUNITDEVELOPMENTWHEREAS,theCountyofEagle,StateofColorado(the“County”)andWoodyVentures,LLC(“Subdivider”)enteredintoaSubdivisionandOff-SiteImprovementsAgreementfortheTreeFarmPlannedUnitDevelopment(the“Subdivision”)datedMay29,2019,andrecordedonMay30,2019atReceptionNo.201907812andonJune3,2019atReceptionNo.201907989,intherecordsoftheEagleCountyClerkandRecorder(hereinafterreferredtoasthe“SIA”);andWHEREAS,Subdividerprovidedcollateralintheformoftwoirrevocablelettersofcredit,oneintheamountof$3,866,941.50whichrepresents100%oftheestimatedcostoftheSubdivisionImprovementsandoneintheamountof$130,890.00,whichrepresents125%oftheestimatedcostoftheLandscapeImprovementsassociatedwiththeSubdivision;andWHEREAS,SubdividercompletedcertainSubdivisionImprovementsrequiredundertheSIAandSubdividerappliedforandreceivedafirstpartialreleaseofcollateralintheamountof$1,306,349.00fiomtheCountypursuanttoEagleCountyConsentNo.2019-03;andWHEREAS,SubdividerhasprovidedsubstitutecollateraltotheCountypursuanttotheSIAintheamountof$2,691,482.50,whichrepresentsthecostoftheremainingSubdivisionandOff-SiteImprovementsfortheSubdivision;andWHEREAS,Section4.6oftheSIAprovidesthatintheeventtheSubdividersells,transfersorassignsallorpartoftheSubdivision,theobligationsoftheSubdividerundertheSIAastothatportionoftheSubdivisionmaybeassumedinwritingbythepurchaseroftheparcel.Section4.6oftheSIAfurtherprovidesthatnosuchassumptionoftheSubdivider’sobligationsshallbeeffectiveunlesstheCountygivesitspriorwrittenapprovaltosuchassumption;andWHEREAS,onoraboutNovember13,2019orassuchdatemayberevisedbytheparties,SubdividerintendstoconveytheSubdivisionpropertytoTreeFarmRFV,LLC,aColoradolimitedliabilitycompany,suchpropertybeingmorespecificallydescribedontheFinalPlatrecordedJune25,2019,atReceptionNo.201909565;andWHEREAS,theCountydesirestodocumentitsconsenttotheassignmentoftheSIAfromSubdividertoTreeFarmRFV.LLCassetforthherein.CONSENTPursuanttoSection4.6oftheSIA,theCountyherebyconsentstotheassignmentbySubdividerofallofitsright,titleandinterestasSubdividerasdefinedintheSIAandtheassumptionthereof,includingallobligationsoftheSubdividerundertheSIA,byTreeFarmRFV,LLCassetforthintheAssignmentofSubdivisionandOff-SiteImprovementAgreementbetweenSubdividerandTreeFarmRFV,LLCdatedonoraboutNovember13,2019,orassuchdatemayberevisedbytheparties.EagleCounty,cc201919289ReginaO’Brien11/13/2019Pgs:211:16:57AMREC:$0.00DCC:$0.00 DocuSignEnvelopeID:EFF52D4E-3720-4490-A333-E9B2F858BEAEDate:COUNTYOFEAGLE,STATEOFCOLORADOByandThroughitsBOARDOFCOUNTY11/12/2019COMMISSIONERS,—DocuSignedby:By:-&AW}iqcMireeney,ChairATTEST:—DocuSignedby:I1,U2tf7rLtMClerktothRJ2619untyCommissioners2