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HomeMy WebLinkAboutR97-033 final release of collateral for The River ForgeI �G t J Commissioner moved adoption of the following Resolution: BOARD OF COUNTY COMMISSIONERS COUNTY OF EAGLE, STATE OF COLORADO RESOLUTION NO. 97-(33 FINAL RELASE OF COLLATERAL AND TERMINATION OF THE WARRANTY PERIOD FOR ARDEN REAL ESTATE AND DEVELOPMENT COMPANY, INC. SUBDIVISION IMPROVEMENTS AGREEMENT FOR THE RIVER FORGE WHEREAS, on May 17, 1993 pursuant County entered into a Subdivision (hereinafter "SIA") recorded in Book 609 of the Eagle County Clerk and Recorder, Development Company, Inc. (hereinafter a condition of the County's approval of Forge (hereinafter "Subdivision "); and to C.R.S. 30 -28 -137, the Improvements Agreement at Page 146 of the records with Arden Real Estate and cnown as "Subdivider "), as a Final Plat of The River WHEREAS, Subdivider provided collateral in the form of a Letter of Credit No. 884 -8459 in the amount of $23,414.00 to guarantee the faithful completion of the project; and WHEREAS, by Eagle County Resolution No. 95 -47 the warranty period was commenced, for which Subdivider provided collateral in the form of Letter of Credit No. 8848459 in the amount of $2,341.40, for the duration of the warranty period. 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. 1111111111111111111111111111111111111111111111111111111 620189 04/15/1997 04:30P B724 P222 370 1 of 4 R 0.00 D 0.00 N 0.00 Eagls, Colorado W C 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 and final release of collateral and the termination of the warranty period for the River Forge. THAT, the County is not accepting any maintenance responsibility for the public improvements associated with River Forge. 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 7:j�-A� day of April, 1997. COUNTY OF EAGLE, STATE OF 61e SAC',c COLORADO, By and Through Its ATTEST: °y BOARD OF COUNTY COMMISSIONERS A'A A -(D cO aao° e By. Clerk to the goard of Johnnette Phil ips, County Commissioners Chairman George A. Gates, Commissioner 1111111 IIIII 111111111111 IIIII IIIII HE III IIIII 1111 1111 620189 04/18/1997 04:30P B724 P222 370 2 of 4 R 0.00 D 0.00 N 0.00 Eagle, Colorado Commissioner seconded adoption of the foregoing resolutioi. The roll having been called, the vote was as follows: Commissioner Johnnette Phillips Commissioner James E. Johnson, Jr, Commissioner George A. Gates�� This Resolution passed by <-� -Q vote of the Board of County Commissioners of the County of Eagle, State of Colorado. mta \r \forge.ter 93 -23 W 1111111111111111111111111111111111111111111111111111111 620189 04/16/1997 04-30P 8724 P222 370 3 of 4 R 0.00 D 0.00 N 0.00 Eaglo, Colorado -3- EAGLE COUNTY ENGINEERING TO: Maureen Amundson, Attorney's Office FROM: John Althoff, Engineering 6�1-4 DATE: March 10, 1997 RE: River Forge, Arden Real Estate & Development April Tickler x Visited the site on Monday, March 10, 1997 to review the site. Appears that all of the improvements have successfully completed the warranty period. I would suggest closing out this SIA and releasing the collateral held for the warranty period. No public improvements will be maintained by the county. xc: George Roussos Chrono /file G.7 11111111111 111111 11111111111 1111111111 III 1111111111111 620189 04/18/1997 04:30P B724 P222 370 4 of 4 R 0.00 D 0.00 N 0.00 Eagle, Colorado