HomeMy WebLinkAboutR95-148 final release of collateral/termination of warranty period for Castle Peak Townhomes Buildings E and FCommissioner 6 1 moved adoption
of th Resolution:
BOARD OF COUNTY commissIONERS
COMM OF EAGLE, STATE OF COLORADO
RESOLUTION NO.
ALTMORIZING THE FINAL RELEASE OF COLLATERAL
• 1.
MaTION OF THE VOUZRANTY PERIOD
FOR
CASTLE PEAK TOWMCNES BUILDINGS "E" AND "F
WHEREAS, ]pursuant to Section 3.05.02 (H) (13) the Board of
County Commissioners of the County of Eagle, State of Colorado
( "Board ") entered into a Construction Improvements Agreement dated
March 18, 1994 ( " Agreement ") with Castle Peak Limited Liability
Company ( "Builder ") as a condition for the of issuance of a
Temporary Certificate of Occupancy for 170 Arlington Place,
Homestead Subdivision Phase II, Buildings " E " and "F ", also known
as Castle Peak Townhomes ( "The Buildings "); and
WHEREAS, pursuant . to the Agreement the Builder provided
collateral to the Board in the form of Certificate of Deposit
Number 806702 in the amount of Fifteen Thousand Dollars,
($15,000.00), deposited with Vail National Bank, 108 S. Frontage
Road, Vail Colorado; and
W HEREAS , by Eagle County Resolution No. 94 -173 the Board
reduced the collateral to ten percent of the original cost estimate
or $1,500 and commenced the one year warranty period for The
Buildings, with an expiration date of November 14, 1995; and
WHEREAS, Builder has represented that the construction
improvements for The Buildings 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 for the Buildings has been successfully completed
and that the full release of the collateral is appropriate.
NOW, BE IT RESOLVED BY THE BOARD OF COUNTY
ZYKNMSSIONERS OF E COUNTY OF • H OF • • • ■ •
THAT, the Board hereby authorizes the full and final release
of collateral in the amount of $1,500.00 and hereby and authorizes
the Eagle County Treasurer to issue a warrant to Castle Peak
Limited Liability Company, in the amount of $1,500.00.
t.
579971 B -683 P -965 12/19/95 01:14P PG 1 OF 3 REC DOC
Sara J. Fisher Eagle County Clerk & Recorder 0.00
� C
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 170 Arlington Place, Homestead Subdivision,
Phase II Buildings " E " and "F ", also known. as Castle Peak
Townhomes, has been successfully completed and that the Builder's
obligations under the Agreement are complete.
MOVED, READ AND ADOPTED by the Board of County Commissioners
of the County of Eagle, State of Colorado, this day of
December, 1995.
ATTEST:
Corftnissioner
Commissioner seconded adoption of the
foregoing resolution THe roii wing been called, the vote was as
follows:
Commissioner James E. Johnson, Jr. a42.
Commissioner George A. Gates
Commissioner Johnnette Phillips _
This Resolution passed by (1 -0 vote of the Board of
County Commissioners of the County of Eagle, State of Colorado.
mta /r /arlingtn. war
File # 94 - 29
579971 B -683 P -965 12/19/95 01:14P PG 2 OF 3
Qa
COUN'T'Y OF EAGLE, STATE OF
COLORADO, By and Through Its
BOARD OF COUNTY COMMISSIONERS
C
EAGLE COUNTY ENGINEERING
TO: Nancy Lewis, Attorney's Office r M?
i 1 '� �
r f� C
FROM: John Althoff, Engineering
DATE: October 13, 1995
L
EAGLE COU °aV PF0F%NS
RE: Castle Peak Townhomes, Buildings E & F
Pattie Haefeli and I were up to Castle Peak Townhomes to review the
development at the end of the warranty period. All of the
landscaping and site work looks good. Would suggest releasing the
$1,500.00 collateral at the end of the warranty period.
xc: George Roussos
Chrono /File
579971 B -683 P -965 12/19/95 01:14P PG 3 OF 3
EXHIBIT
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