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HomeMy WebLinkAboutR92-152 reduction/substitute/deletion of plat for Wayne Creek Commons Beaver CreekZ� li c 0 Commissioner moved adoption of the following Resolution: BOARD OF COUNTY COMMISSIONERS COUNTY OF EAGLE, STATE OF COLORADO RESOLUTION NO. 92 - )saw L �. FIRST REDUCTION OF COLLATERAL, ACCEPTANCE of SUBSTITUTE COLLATERAL and DELETION of PLAT RESTRICTION "FOURTH AMENDMENT to SECOND FILING, BEAVER CREEK SUBDIVISION, WAYNE CREEK COMMONS" WHEREAS, on August 10, 1992, Fairland Development Corp., by and through its president, Kraig Forbes (hereinafter "Developer "), entered into a Subdivision Improvements Agreement ( "Agreement ") with the County of Eagle, State of Colorado, by and through its Board of County Commissioners ( "the Board "), as a condition of the Board's approval of the Final Plat of the Fourth Amendment to the Second Filing, Beaver Creek Subdivision, Wayne Creek Commons. The Agreement is recorded in the records of the Eagle County Clerk and Recorder at Book 586, Page 609; and the Final Plat, at Book 586, Page 610; and WHEREAS, the revised cost estimated to be sufficient to com- plete the improvements required by the Agreements is $330,260.00; and WHEREAS, pursuant to the Agreement, Developer provided security and collateral to guarantee the completion of the required improvements in the form of a plat note on the subject Final Plat, prohibiting the sale or conveyance of any tract or lot within Wayne Creek Commons until the improvements are complete; and WHEREAS, Developer has represented that the improvements under the Agreement are substantially complete, and that the utilities have been accepted for maintenance by the Upper Eagle Valley Water and Sewer Districts; Developer requests that the plat note be deleted; and 489697 R -593 P -601 11,'`05,/92 16 :57 PG 1 OF 5 REC DOC JOHNNETTE PHILLIPS EAGLE COUNTY CLERK, COLORADO 0..00 0.00 r` a WHEREAS, pursuant to the Agreement, there shall be a two - year warranty period from the time the improvements are com- pleted, during which time collateral in the amount of ten percent (10 %) of the original costs shall be retained; and WHEREAS, Developer has presented an Irrevocable Letter of Credit No. 8774781 in the amount of $33,000.00, issued by 1st Bank of Avon, as collateral for the warranty period in accordance with the terms of the Agreement. WHEREFORE, based upon the recommendation of Planning and Engineering Staff, THE BOARD FINDS AS FOLLOWS: 1. That the improvements are substantially complete, according to the percentages indicated on Exhibit "A" attached hereto and incorporated herein by this reference. 2. That the utilities have been accepted by the respective Districts. 3. That the Letter of Credit presented as collateral for the two -year warranty period is satisfactory. 4. That deletion of the plat note is appropriate. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF THE COUNTY OF EAGLE, STATE OF COLORADO: THAT, the plat restriction on the Final Plat of Fourth Amendment to the Second Filing, Beaver Creek Subdivision, Wayne Creek Commons, be released by the recording of this Resolution. THAT, the amount of collateral be and is hereby reduced to $33,000.00, upon receipt of the original Letters of Credit and Letters of Acceptance from the respective Districts by the County Attorney. THAT, deletion of said plat restriction shall not in any way abrogate the rights of the Board in enforcing Developer's satis- factory performance of its outstanding obligations under the Agreement. -2- 4 0 0 THAT, after receipt of said documents, this release shall become effective upon the recording of this resolution by the County Attorney. , MOVED, READ AND ADOPTED by the Board of County Commissioners of the County of Eagle, State of Colorado, at its regular meeting held the ,n day of November, 1992. ATTEST: 4 ByClerk By: tte Phillips to the B oard COUNTY OF EAGLE, STATE OF COLORADO, By and Through its BOARD OF COUNTY COMMISSIONERS Richard L. Gustafson, Chairman Donald H. Welch, Commissioner and Chairman Pro Tem Georgp✓A. Gates, Commissioner Commissioner -tlek� seconded adoption of the foregoing Resolution. The roll having been called, the vote was as follows: Commissioner George A. Gates L Commissioner Donald H. Welch fjCj� Commissioner Richard L. Gustafson This Resolution passed by 01'C vote of the Board of County Commissioners of the County of Eagle, State of Colorado. 83- 140 -af -3- EXHIBIT "A" - ii WAYNE CREEK COMMONS CONSTRUCTION COST ESTIMATE'j - November 5, 1992 ITEM NO. I DESCRIPTION UNIT QUANTITY UNIT PRICE ( TOTAL I PERCENT COMPLETE 10 ROAD SYSTEM LF 5 25.00 125.00 100 1 Asphalt Surface Course (3 1/2 ") TON 410 37.00 15,170.00 0 2 Asphalt Base Course (8 ") TON 800 15.00 12,000.00 100 3 Excavation CY 3750 3.50 13,125.00 FI 100 4 Embanitment CY 3750 4.50 16,875.00 100 5 Import CY 1200 8.00 9,600.00 100 6 Topsoil CY 4430 2.50 11,075.00 100 17 Subtotal LF 1160 45.00 $77,845.00 100 18 Fire Hydrants DRAINAGE 3 1,500.00 4,500.00 100 19 7 36" CSP LF 87 50.00 4,350.00 100 8 36" CSP End Sections EA 4 qnn nn 1 Onn nn , nn 9 Pond Outlet Structure w /grate EA 1 4,000.00 4,000.00 100 I 10 8" DIP Pond Drain LF 5 25.00 125.00 100 11 8" Gate Valve EA 1 500.00 500.00 100 12 Rip Rap SF 2500 2.00 5,000.00 100 j 13 PVC Pond Liner SF 2500 0.42 11050.00 100 14 12" CMP Culvert LF 100 20.00 2,000.00 100 15 18" RCAF LF 25 25.00 625.00 100 Subtotal $18,850.00 WATER SYSTEM 16 12" x 8" Tapping Sleeve and Valve EA 2 1,300.00 2,600.00 100 17 8" DIP LF 1160 45.00 52,200.00 100 18 Fire Hydrants EA 3 1,500.00 4,500.00 100 19 Road Cuts EA 2 51000.00 10,000.00 100 20 Water Services - 1" LF 0"80 25.00 17,000.00 100 Subtotal $86,300.00 t WAYNE CREEK COMMONS CONSTRUCTION COST ESTIMATE November 5. 1992 ITEM NO. DESCRIPTION UNIT QUANTITY UNIT PRICE TOTAL PERCENT COMPLETE SANITARY SEWER SYSTEM 21 8" PVC Sanitary Sewer LF 1000 35.00 35,000.00 100 22 Manholes EA 8 1,800.00 14,400.00 100 23 4" PVC Service Lines LF 610 25.00 15,250.00 100 Subtotal $64,650.00 24 Electric with Transformers IF 700 29.00 20,300.00 100 25 Phone IF 700 10.00 7,000.00 100 26 Cable TV LF 700 10.00 7,000.00 100 27 Gas LF 700 10.00 7,000.00 100 28 Revegetation- Smooth Brohm Grass AC 1 2,000.00 2,000.00 100 29 Boulder Walls SF 2200 12:50 �' 27,500.00 100 30 Signage EA 1 150.00 150.00 0 LANDSCAPING I 31 Erosion Control Hay Bales LF 200 4.00 800.00 100 32 Control Fencing LF 400 5.00 2,000.00 100 33 Replant Existing Trees EA 30 50.00. 1,500.00 0 34 Landscaping Trees - Spruce EA 11 400.00 4,400.00 35 35 Landscaping Trees - Aspen EA 15 50.00 y 750.00 0 I 36 Landscaping Trees - Pine EA 6 85.00 510.00 0 37 Landscaping Trees - Gold Drop EA 15 45.00 675.00 0 �I 38 Landscaping Trees - Dogwood EA 4 45.00 180.00 0 �I SUBTOTAL .$10,815.00 TOTAL PROJECT COST $330,260.00