No preview available
HomeMy WebLinkAboutR92-164 final release of collateral for Soderberg Subdivision Filing 2c. Commissioner moved adoption of the following solution: BOARD OF COUNTY COMMISSIONERS COUNTY OF EAGLE, STATE OF /COLORADO RESOLUTION NO. 92- / r SARAH D. GODDARD AND BRIAN & THERESA OLSEN RELEASE OF COLLATERAL CONCERNING SODERBERG SUBDIVISION, FILING 2 WHEREAS, on or about November 13, 1989, pursuant to C.R.S. 30 -28 -137, the Board of County Commissioners of the County of Eagle, State of Colorado ( "Board "), entered into a Subdivision Improvements Agreement ( "Agreement ") with Jan MacCready and Margie Butler, collectively referred to as "Subdivider "; and WHEREAS, by First Amendment to Subdivision Improvements Agreement dated and executed by the Board of County Commissioners on December 19, 1991, Brian and Theresa Olsen purchased Lot 1 from Jan MacCready; and WHEREAS, by Second Amendment to Subdivision Improvements Agreement dated and executed by the Board of County Commissioners on May 26, 1992, Sarah D. Goddard purchased Lot 2 from Margie Butler; and WHEREAS, by said First Amendment the County accepted Irrevocable Letter of Credit No. 550 issued by the Alpine Bank in Snowmass Village, Colorado, in the name of Brian J. Olsen and Theresa A. Olsen as substitution of the collateral held for Jan MacCready with regard to the obligations described in the original Agreement; and WHEREAS, by said Second Amendment the County accepted Irrevocable Letter of Credit No. 79 issued by the Alpine Bank in Basalt, Colorado, in the name of Sarah D. Goddard as substitution of the collateral held for Margie Butler with regard to the obligations described in the original Agreement; and WHEREAS, the Subdividers has represented to the Board, and members of the County staff have corroborated the Subdividers' representations, the work to be performed under the Agreement, and further def fined in the First and Second Amendment to the Agreement, has been satisfactorily completed; and WHEREAS, the County staff has recommended that the two -year warranty period be waived; and WHEREAS, the Subdividers has applied for a full release of their collateral in the amount of $3,698.00 for each subdivider. BASED UPON the oral and written recommendations of the Eagle County Department of Engineering, the Board finds that the work to be performed under the Agreement, and the First and Second Amendment thereto, has been satisfactorily completed, and the two - year warranty period required by the Agreement is hereby waived, and a full release of the collateral, 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 authorizes the full release of collateral in the amount of $3,698.00 for each subdivider and hereby waives the two -year warranty period. MOVED, READ AND ADOPTED by the Board of County ommissioners of the County of Eagle, State of Colorado, this day of November, 1992. COUNTY OF EAGLE, STATE OF COLORADO, By and Through Its BOARD OF COUNTY COMMISSIONERS A-74 AOP By: Cl #k to O-r- of Richard L. Gustafson, Chairman County Co ssioners George . Gates, Commissioner Do ald H. Welch, 'Commissioner Commissioner 620" seconded adoption of the foregoing ~-resolution. The roll having been called, the vote was as follows: Commissioner Donald H. Welch ca% Commissioner George A. Gates QWe Commissioner Richard L. Gustafson This Resolution passed by vote of the Board of County Commissioners of the County of Eagle, State of Colorado. goddard.reC #90 -2 nl v -2-