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HomeMy WebLinkAboutR97-032 final release of collateral for Mountain Lubey Commissioner aj moved adoption of the following Resolution: BOARD OF COUNTY COMMISSIONERS COUNTY OF EAGLE, STATE OF COLORADO RESOLUTION NO. 97 -,5a_ FINAL RELEASE OF COLLATERAL AND TERMINATION OF THE WARRANTY PERIOD FOR MOUNTAIN LUBE, INC. CONSTRUCTION IMPROVEMENTS AGREEMENT WHEREAS, on April 19, 1994 pursuant to C.R.S. 30 -28 -137, the County entered into a Construction Improvements Agreement (hereinafter "CIA ") recorded in Book 638 at Page 458 of the records of the Eagle County Clerk and Recorder, with Mountain Lube, Inc. (hereinafter known as "Mountain Lube ") , by Lise B. Lorentzen, President, as a condition of the County's approval of a Building Permit to construct improvements located at 40843 B U. S. Highway 6, consisting of an automobile oil and lube service facility known as Mountain Lube (hereinafter "Project ,,); and WHEREAS, Mountain Lube provided collateral in the form of a Letter of Credit No. 911 -5692 in the amount of $30,163.00 to guarantee the faithful completion of the project; and WHEREAS, by Eagle County Resolution No. 95 -46 the warranty period was commenced for which the Subdivider provided collateral in the form of a check in the amount of $3000.00 on deposit with the Eagle County Treasurer's Office held for the duration of the warranty period; and 1 111111 11111 111111 III 111111 IIII IIIIIIII III IIIII 1111 IIII 621758 05/01/1997 03:56P 8725 P792 370 1 of 4 R 0.00 D 0.00 N 0.00 Eagle, Colorado j WHEREAS, both the Subdivider and the Engineering Department state that the work is complete and acceptable and the Engineering Department recommends full release of the collateral and the termination of the warranty period, see Exhibit "A ", attached hereto and incorporated herein by this reference. Based upon the oral and written recommendations of the County staff, THE BOARD FINDS that the Subdivider's obligations under the Agreement have been satisfied. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY SSIONERS OF THE COUNTY OF EAGLE, STATE OF COLORADO: THAT, the Board hereby authorizes the full and final release of collateral and the termination of the warranty period for Mountain Lube. THAT, the Eagle County Treasurer's Office is.hereby directed to issue a warranty to Mountain Lube in the amount of $3000.00. THAT, there are no public rights -of -way associated with this Project, therefore, the County will not be undertaking any maintenance responsibilities. THAT, this document shall be recorded in the Records of the Eagle County Clerk and Recorder, which shall be evidence that the Agreement has been terminated. MOVED, READ AND ADOPTED by the Board of County Commissioners of the County of Eagle, State of Colorado, at its regular meeting held the 70L day of April, 1997. County Commissioners COUNTY OF EAGLE, STATE OF COLORADO, By and Through Its BOARD OF COUNTY COMMISSIONERS By: Johnnette Phillips, Chairman IIIIii IIIII IIIIII 1111111111111111111111111111111111111 621768 08/01/1997 03:56P 8726 P792 370 2 of 4 R 0.00 0 0.00 N 0.00 Eagle, Colorado 011 RF 0� a J mes E. Jc;hn n, Jr.; ommissione George Gates, ' Commissioner Commissioner 1 "��Lr seconded adoption of the foregoing resolutio The roll having been called, the vote was as follows: Commissioner Johnnette Phillips a Commissioner James E. Johnson, Jr. Commissioner George A. Gates This Resolution passed by 3 -(7) vote of the Board of County Commissioners of the County of Eagle, State of Colorado. mta \r \mountain.ter 94 -41 V" 1111111111 1111111 HIM 111 11111111 IN IIIlilll 111 111111111 IN 621788 08/01/1997 03 :86P 6726 P792 370 3 of 4 R 0.00 D 0.00 N 0.00 Eagle, Colorado i EAGLE COUNTY ENGINEERING TO: Maureen Amundson, Attorney's Office FROM: John Althoff, Engineering DATE: March 10, 1997 RE: Mountain Lube SIA Lise Lorentzen April Tickler File Mike Gruber of our office visited the Mountain Lube site on Friday, March 7, 1997. It appears that all of the work that was not snow covered has successfully completed the two year warranty period. Would suggest closing out this SIA and returning all collateral held. xc: George Roussos Chrono /file L'e Iliiii 11111111111111111111111111111111111111111111 IN 621758 05/01/1997 03 :56P B725 P792 37Oorado 4 of 4 R 0.00 D 0.00 N 0.00 Eagle. EX IBIT