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HomeMy WebLinkAboutR94-052 release of collateral for Creamery Ranchi
534374 B -638 P -323 04/22/94 11:31A PG 1 OF 6 REC DOC
Sara J. Fisher Eagle County Clerk & Recorder 0.00
pp
Commissioner moved adoption
of the following R solution:
BOARD OF COUNTY
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION NO. 94 - 6c4
THE RELEASE OF COLLATERAL
CREAMERY RANCH
FORMERLY KNOWN AS CREAMERY GULCH RANCH
WHEREAS, on June 23, 1992, the County entered into a Subdivi-
sion Improvements Agreement ("SIA") recorded at Book 583 at Page
275 in the records of the Eagle County Clerk and Recorder, with
Frank Lynch (hereinafter "Subdivider "), as a condition of the
County's final plat approval for A Resubdivision of Lot 3, Creamery
Gulch Ranch; and
WHEREAS, on September 15, 1992, the County entered into a
Subdivision Improvements Agreement, (SIA) recorded in Book 589, at
Page 224, in the records of the Eagle County Clerk and Recorder,
with the Subdivider, as a condition of the County's final plat
approval for A Resubdivision of Tracts C and X, Creamery Gulch
Ranch; and
WHEREAS, by Resolution Number 92 -101, the Board accepted
certain letters of credit as substitute collateral for the above -
mentioned SIAs, found that certain improvements had been completed,
and authorized the release of the plat restriction and a reduction
in collateral all as provided in said resolution; and
WHEREAS, by Resolution Number 93 -88, the Board authorized a
second reduction in collateral, to the amount of $176,900.00,
secured by Letter of Credit Number 809 -8573 all as provided in said
resolution; and
WHEREAS, by Eagle County Resolution Number 93 -88 and by First
Amendment to the SIAs, dated August 3, 1993, the completion date of
the SIAs was extended to on or before July 31, 1994; and
534374 B -638 P =323 04/22/94 11:31A PG 2 OF 6
WHEREAS, by Second Amendment to the SIAs, dated April 19,
1994, said SIAs were each amended to indicate a re- subdivision of
the property known as Creamery Gulch Ranch and to reflect the
change in the name of the subdivision, from Creamery Gulch Ranch to
Creamery Ranch; and
WHEREAS, as a result of this re- subdivision, and approval of
the Final Plat for Creamery Ranch, additional public improvements,
beyond those stated in the above - mentioned SIAs, are required; and
WHEREAS, by Second Amendment to the SIAs, dated April 19,
1994, said SIAs were each amended to incorporate these new public
improvements generated as a result of this re- subdivision, as well
as those unfinished improvements required under the above - mentioned
SIAs; and
WHEREAS, the Subdivider has represented to the Board, and
members of the County staff have corroborated, as shown on the
attached Exhibit "A ", the Subdivider's representations, that the
improvements as shown on the attached Exhibit "B" are satisfactory
to serve the needs of the subdivision; and
WHEREAS, by Second Amendment to the SIAs, and the Consent to
Assignment, dated April 19, 1994, Subdivider was required to secure
collateral in the amount of $277,596.05, to guarantee the comple-
tions of its obligations under the SIAs, and amendments thereto;
and
WHEREAS, Subdivider has secured such collateral in the amount
of $277,596.05, by Letter of Credit Number 913 -1388; and Subdivider
has therefore applied for full release of the Letter of Credit
Number 809 -8573 which is in the amount of $176,900.00.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF THE COUNTY OF EAGLE, STATE OF COLORADO:
THAT, the Board hereby authorize the full release of said
Letter of Credit No. 809 -8573 in the amount of $176,900.00.
MOVED, READ AND ADOPTED by the Board of County Commis-
sioners of the County of Eagle, State of Colorado, this /9941-
County Commissioners
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
BOARD OF COUNTY COMMISSIONERS
534374 B -638 P -32o 04/22/94 11:31A PG 3 OF
Q Jo ,� .Q, IQ
James E. son Jr., Commissioner
George Gates, Commissioner
Commissioner
Commissioned seconded adoption of the
foregoing resol tion. T roll having been called, the vote was as
follows:
Commissioner Johnnette Phillips GGf9!Jon.
Commissioner James E. Johnson, Jr.
Commissioner George A. Gates.
x
This Resolution passed by cI vote of the Board of
County Commissioners of the County of Eagle, State of Colorado.
r \creamery.ful #87 -112
-3-
I►1 ut:_.�r �►�i
EAGLE COUNTY ENGINEERING
TO: Maureen Amundson, Attorney's Office
FROM: Phill Scott, Engineering a"
DATE: April 15, 1994
RE: Creamery Ranch
Based on a brief review of the cost estimate submitted to this
office yesterday, April 14, 1994, we would recommend that the
Board of County Commissioners release the existing Letter of
Credit in the amount of $176,900 and accept in its place a Letter
of Credit in the amount of $277,596.05 to cover the cost of
public improvements remaining in Creamery Ranch, Phase IIB. We
feel that the subdivider's engineer, in this case Johnson and
Kunkel, has intimate and thorough knowledge of this project and
is qualified to make the representations they have in the
Schedule of Values, Creamery Ranch, Phase IIB - 1994.
534374
B -638 P -323 04/22/94 11:31A PG 4
OF 6
■
�t
Cc: Larry Metternick
File
534374 B -638 p-3 3 04/22/94 11:31A PG 5
t r�
1. N •„
0 .._o
N0. 1T
UNIT
LF
MTWATm UNIT
QUANTl'1'Y PRICE
TOTAL
ESTIMATED
Road Paven'mt:
7
8" Pv'C Pipe
LF
3220
1 Road StabilizatioA
570.292.60
8
8" Gate Valve
EA
Material
CY
100
10.60 ICY
S' C.I. Elbow
2 Fine Gang
SY
10.433
SO . /8Y
, S 5.346.40
3 Remove, Stockpile &
EA
S
9.07o.0p &2A
1IS.USU0
Plate existing Road
Service Assy
EA
16
I QjZ-00 /P4
R=c Aggregate
CY
500
4.73 !CY
2 375.
4 Aggxegatn Ease
Course
T
3100
_11,9
X36.952.00
5 Asphalt
T
1565
WLtcr CMtrucdon,
6
7' Trench B & C
LF
3725
_
7.784.00
7
8" Pv'C Pipe
LF
3220
21.83 ILF
570.292.60
8
8" Gate Valve
EA
2
530.00 MA
S 1.060.00
9
S' C.I. Elbow
EA
9
_ 238. /EA
_ S 2,162.00
10
hydrant Assy
EA
S
9.07o.0p &2A
1IS.USU0
11
Service Assy
EA
16
I QjZ-00 /P4
A16.272.00
00510 -3
at
e
12 1 W" Water Servleo LP
13 Air Release Valve EA
14
Road Cut & patch
SP
rains e•
•.�
25
.30" CUP
LF
I6
38" Paid Section
EA
17
50" x 31" Arch CUP
Lp
)7etrntion Pend:
1s
Remove Top Soil
CU
19
Excavate, Place
& Ctxnpaa
CU
20
Spread A Grad*
Top Soli
CU
I m oil
0 - --1.23 =
o .7 CU
0 _ 3.50 /CU
2k
y-
21 4' Electric Trench LP
22 4" Conduit, Install* Lp
23 30" Gas Trench LF
24 Electric Vauitc* EA
25 2" Conduit, jmtali» Lp
• Conduit and vaults W be supplied by others.
TOTAL OF ALL UNIT PRICF—S Hondret
=M—N
5 ,596.05 {dollars)
(use words)
.:.
:.
..
3760
•.�
— S 7,320
"'
0
. . + +yt
—121, QL&A
15,565.00
3460
00SI0 -4
G�{
534374 B -638 P -323 04/22/94 11:31A PG 6 OF 6