HomeMy WebLinkAboutR95-140 termination of warranty period for Phase I of Arrowhead at Vail Filing 163
O 578671 B -682 P -664 12/05/95 04:12P PG 1 OF 3 REC DOC
1 Sara J. Fisher Eagle County Clerk & Recorder 0.00
Commissioner moved adoption
of the followl.ng Reso ut on:
RESOLUTION NO . 95 - NO
"Phase -•
WHEREAS, 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 dated July 6,
1993, ( "Agreement ") with Arrowhead at Vail, a Colorado Joint
Venture ( "Subdivider "), as'a condition of final plat approval for
.� Filing 16, Arrowhead at Vail; and
WHEREAS, the Subdivider provided collateral in the form of a
' plat restriction to guarantee the faithful completion of the public
improvements remaining In "Phase i" of the project; and
WHEREAS, by Eagle County Resolution No. 93 -135, Subdivider
substituted the collateral in a form acceptable to the Board with
Letter of Credit No. 901 -4780 in the amount of $49,779.00, which
amount represented ten percent of the original cost estimate which
was held for the duration of the two year warranty period; and
WHEREAS, by Eagle County Resolution. No.''93 -135 the Board
commenced the two warranty period for Filing 16, Arrowhead at Vail,
with an expiration date of October 15, 1995; and
WHEREAS, Subdivider has represented that the subdivision
improvements for Phase 1 have satisfactorily survived the warranty
period; and
WHEREAS, BASED upon the written recommendations of the
Department of Engineering (see Exhibit A, attached hereto and
incorporated herein by this reference) the Board finds that the
warranty period has been successfully completed and that the full
release of the collateral is appropriate.
,�
THERE FORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS
OF THE COUNTY OF EAGLE, STATE OF COLORADO:
THAT, the Board hereby authorizes the full and final release
of.collateral in the amount of $49,779.00.
THAT, this resolution shall be recorded in the Records of the
Eagle County Clerk and Recorder, which shall be evidence that the
warranty period for Filing 16, Phase 1, Arrowhead at Vail, has been
successfully completed and that the Subdivider's obligations under
the Agreement are complete.
MOVED, READ AND ADOP'T'ED by the Board of County Commissioners
of the County of Eagle, State of Colorado, this day of
December, 1995.
George A. Gates, Commissioner
r
) *o ette Phlii Cbmmissdioner
Commissioner p seconded adoption of . the
foregoing resoI u — tiqft. Me roii hYy been called, the vote was as
follows:
Commissioner James E. Johnson, Jr.
Commissioner George A. Gates
Commissioner Johnnette Phillips
This Resolution passed by o� '-0 vote of the Board of
County Commissioners of the County ot Eag e, State.of Colorado.
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#82 -236
M
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MEMORANDUM
EAGLE COUNTY ENGINEERING
TO: Nancy Lewis, Attorney's Office
FROM: John Althoff, Engineering
DATE: September 25, 1995
RE: Arrowhead at Vail, Filing 16, Phase I
-------------------------------------------
Was up to the site on Friday, September 15, 1995 to review the
project at the end of the warranty period and saw no problems.
Would suggest releasing the $49,779.40 (100 of original) held and
close out the Subdivision Improvements Agreement for this project.
xc: George Roussos
Chrono/File
EXHIBIT
4
