HomeMy WebLinkAboutR92-079 full release of collateral for Sagewood TownhomesCommissioner moved adoption
of the following Resolution:
BOARD OF COUNTY COMMISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION NO. 92- - ' 21
AUTHORIZING THE RELEASE OF COLLATERAL
SAGEWOOD TOWNHOMES SUBDIVISION
WHEREAS, on or about August 29, 1989, pursuant to Section
30 -28 -137, C.R.S., the Board of County Commissioners of the County
of Eagle, State of Colorado ( "Board ") entered into a Subdivision
Improvements Agreement ( "Agreement ") with Crystal Land and Cattle
Company (James B. Leeling, principal) (Subdivider ") as a condition
of final plat approval of Sagewood Townhomes Subdivision; and
WHEREAS, in order to guarantee the faithful completion
of certain public improvements required under the Agreement, the
Board accepted as collateral an Assignment of Savings Account No.
9025 -24 -3, The Bank of Aspen, in the amount of $108,600.00; and
WHEREAS, by Resolution No. 90 -66, the Board found that
a portion of the public improvements required under the Agreement
had been satisfactorily completed, and authorized a partial release
of the collateral in the amount of $99,030; and
WHEREAS, The Subdivider has represented to the Board, and
members of the County staff have corroborated the Subdivider's
representations, that the improvements have satisfactorily survived
the two -year warranty period; and
WHEREAS, the Subdivider has applied for a full release
of its collateral;
BASED UPON the oral and written recommendations of the
Engineering Department, the Board finds that the improvements have
satisfactorily survived the two -year warranty period, and the full
release of the Assignment of Savings Account No. 9025 -24 -3, The
Bank of Aspen, in the amount of $9,570,00, is appropriate.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF THE COUNTY OF EAGLE, STATE OF COLORADO:
THAT, the Board hereby authorize the full release of said
Assignment of Savings Account in the amount of $9,570.00,
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MOVED, READ AND ADOPTED by the Board of Count commissioners
of the County of Eagle, State of Colorado, thi day of
August, 1992.
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
BOARD OF COUNTY COMMISSIONERS
By:
Richard L. Gustafson, Chairman
Donald H. Welch, Commissioner
Commissioner �'5 seconded adoption of the
foregoing resolution. The roll having been called, the vote was
as follows:
Commissioner Richard L._Gustafson
Commissioner George A. Gates'
Commissioner Donald H."''
This Resolution passed _by • -- --- vote of the Board of
County Commissioners of-the County of Eagle, State of Colorado.
#89-109 -
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county Commissioners
