HomeMy WebLinkAboutR92-155 extension of SIA and LOC forOld Orchard Subdivisiont?
Commissioner moved adoption
of the following Resolution:
BOARD OF COUNTY COMMISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION NO. 92-
AUTHORIZING THE EXTENSION OF THE
SUBDIVISION IMPROVEMENTS AGREEMENT
AND LETTER OF CREDIT NO. 1181
FOR OLD ORCHARD SUBDIVISION
TO DECEMBER 31, 1992
WHEREAS, on or about April 9, 1991, 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 Mid - Valley Development
Co. by H.L.M.S., Inc., a Colorado Corporation, (Morton A. Heller,
Vice President of H.L.M.S., a Colorado corporation, General
Partner of Mid- Valley Development Company) ( "Subdivider ") as a
condition of final plat approval of River Ranch Subdivision; and
WHEREAS, in order to guarantee the faithful completion of
certain public improvements required under the Agreement, the
Board accepted as collateral Irrevocable Standby Letter of Credit
#1181, dated April 9, 1991, issued by Pitkin County Bank & trust
Company; and
WHEREAS, the Subdivider has by letter dated October 23,
1992, (Exhibit A) requested an extension on the Subdivision
Improvements Agreement to December 31, 1992, and the County
agrees to said extension, for the mutual benefit to be derived by
said extension; and
WHEREAS, the Subdivider has provided an extension on the
Letter of Credit #1181, issued by Pitkin County Bank & Trust, to
December 31, 1992, (Exhibit B) and the County agrees to said
extension.
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 extension of the
Subdivision Improvements Agreement to December 31, 1992.
d
THAT, the Board hereby authorize the extension of Letter of
Credit #1181 to December 31, 1992.
MOVED, READ AND ADOPTED by the Board of Count Commissioners
of the County of Eagle, State of Colorado, this day of
NovembejZ,
V 1992.
► %� ;%a1� COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
s BOARD OF COUNTY COMMISSIONERS
E
A s
erk to the Board off
County Commissioners
By:
Richard L. Gustafson, Chairman
George . Gates, Commissioner
Dona elch, Commissioner
Commissioner /Awtk seconded adoption of the
foregoing resolution. The roll having been called, the vote was
as follows:
Commissioner Richard L. Gustafson Ai eS_4t'7 `
Commissioner George A. Gates qq-// .,
Commissioner Donald H. Welch1��
This Resolution passed by vote of the Board of
County Commissioners of the County of Eagle, State of Colorado.
Attachments
91 -21 orchard.ord
U(_ 1 -;e 1b; Jb t XL 1 11U= t(Y I tK I H l Nl'ICI`i i I U
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0
Charles B. Moss, Jr.
Mid - Valley Development
225 North Mill Street
Asper., CO 81611
tea. (303) 925-4554
October 23, 1992
Eagle County Board of Commissioners
540 Broadway
P.O. Box 850
Eagle, CO 81631
REF: Old Orchard Plaza Subdivision
Your File No. 91 -21
Dear Sirs:
.L_)a ] [.=U I 1 . -
This is a request for an extension of 60 days to
December 31, 1992 for the Subdivision Improvements
Agreement between Mid- Valley Development and the Eagle
County Board of Commissioners dated April 91 1991 for
the old Orchard Subdivision.
Thank you.
Sincerely,
Charles B. Muss, Jr.
Mid-Valley Development
CBM, Jr. /Is
EXHIbe"'ITA
0_! Gt "Je Ue_; ail M t'i i KIN WUN I Y tiHNK
W
November 9, 1992
BENEFICIARY:
Board of County Commissioners
County of Eagle
State of Colorado
500 Broadway
P.O.'Hox 850
Eagle, Co 81831
RE: AMENDKENT NO. 3 TO IRREVOCABLE LZTU OF CREDIT 81181
To Whom It May Concern:
r.c
The following is an amendment to our Irrevocable Standby Letter
of Credit Number 1181 for the account of Mid - Valley Development
Co. (Old Orchard Plaza Subdivision file no. 91 -21):
1. The maturity date is hereby extended to December 31,
1982.
All other terms and conditions of the original Letter of Credit
remain unchanged.
Very truly yours,
P I TK I N CO PM E LN-K & TRUST
Thomas W. Gr f f it 7
Executive Vice P dent
TWQ /s r .
EXHIS
T 8
534 E. HYMAN AVE. 9 POST OFFICE BOX 3677 + ASPEN, COLORADO 81612 • PHONE 303/925 -6700