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HomeMy WebLinkAboutR97-157 final release of collateral for Moonridge Phase 2y 7 i J \� Commissioner moved adoption of the tollowing Resolution: BOARD OF COUNTY COMMISSIONERS COUNTY OF EAGLE, STATE OF COLORADO RESOLUTION NO. 97 - /,67�- FINAL RELEASE OF COLLATERAL AND TERMINATION OF THE WARRANTY PERIOD FOR MOONRIDGE SUBDIVISION, PHASE 2 WHEREAS, on August 25, 1992 pursuant to C.R.S. 30 -28 -137, the County entered into a Subdivision Improvements Agreement (hereinaf- ter "Agreement ") recorded in Book 587 at Page 789 of the records of C�1 the Eagle County Clerk and Recorder, with Eagle II Developers, Inc. by William L. Williams, as President (hereinafter known as "Subdivider "), as a condition of the County's approval of the Final Plat of Moonridge, Phase 2, a Resubdivision of Lot 3, Moonridge; and WHEREAS, by Resolution No. 93 -146, collateral was reduced to c $23,582.62 to be held for the two -year warranty period and for completion of the drainage work remaining to be done, said warranty period expired on December 6, 1995; and � w m WHEREAS, based on recommendations of the County Engineer, the We County did not terminate the warranty period in December of 1995 9L" due to a failure in certain work; and �ma r 's m WHEREAS, the Eagle County Department of Engineering recom- ymended that certain corrective repairs were necessary and that such v m repair work would require an additional one year corrective m m warranty period; and dab 0) o m WHEREAS, :he Subdivider performed the necessary corrective ® work and by Eagle County Consent No. 96 -19 the one year corrective _� warranty period was commenced, said warranty period to expire on ° June 11, 1997; further the County held Letter of Credit No. 212, vo issued by First Bank of Eagle County, in the amount of $1,000.00 for the duration of the corrective warranty period; and p l r WHEREAS, both the Subdivider and the Engineering Department state that the work required under the Agreement are 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 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 Moonridge Subdivision, Phase II. THAT, this document shall be recorded in the Records of the Eagle County Clerk and Recorder, which shall be evidence that the warranty period for Moonridge Subdivision, Phase II has been successfully completed and that the Subdivider'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, at its regular meeting held the(_ day of December, 1997. COUNTY OF EAGLE, STATE OF art COLORADO, By and Through Its BOARD OF COUNTY COMMISSIONERS By Johnnette Phillips, Chairman George A. Gates, Commissioner ATTEST: � V ti OI Col W v i Clerk to the oard of d County Commissioners in LL R ��_ n. � m w mm m m m m . Cm �mv v �mN — COUNTY OF EAGLE, STATE OF art COLORADO, By and Through Its BOARD OF COUNTY COMMISSIONERS By Johnnette Phillips, Chairman George A. Gates, Commissioner Commissioner seconded adoption of the foregoing resolution. Thel roll having been called, the vote was as follows: Commissioner Johnnette Phillips p Commissioner James E. Johnson, Jr. L Commissioner George A. Gates This Resolution passed by 0-0 vote of the Board of County Commissioners of the County of Eagle, State of Colorado. #91 -41 mta \r \moonrdg.ter 1111111 IIIII 111111 11111 111111 III INK III Ilill IIII IN 641793 12/10/1997 04:35P 8745 P848 3 of 4 R 0.00 D 0.00 Sara J Fisher, Eagle, CO } lli I'Di [�] 7 \►1.1111 EAGLE COUNTY ENGINEERING TO: Maureen Amundson./ Attorney's Office FROM: Mike Gruber / Engineering IVI k� DATE: November 7, 1997 RE: Moonridge, Phase II Collateral Final Release, Termination of SIA Items requiring correction and an extended one year warranty period have successfully performed and are acceptable. Release of collateral (Letter Of Credit No. 212 representing retainage for the corrections under the extended warranty period) and termination of the SIA is recommended. No additional warranty periods are required. This road is currently maintained by the County. Termination of the SIA has no bearing on the status of this maintenance. 111111 VIII 111111 VIII 111111 III IIIIIII III VIII IIII III 641793 12/10/1997 04:35P B748 P848 4 of 4 R 0.00 D 0.00 Sara J Fisher, Eagle, CO