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HomeMy WebLinkAboutR94-091 first partial release for Blue Lake Filing V�a Commissione 0, moved adoption of the followi g Resol ion: BOARD OF COUNTY COMMISSIONERS COUNTY OF EAGLE, STATE OF COLORADO RESOLUTION NO. 94 - -_ i" FIRST PARTIAL RELEASE of COLLATERAL r " BLUE LAKE SUBDIVISION Filing V WHEREAS, pursuant to C.R.S. 30 -28 -137, the Board of County Commissioners of the County of Eagle, State of Colorado ( "Board ") entered into a Subdivision Improvements Agreement dated March 14, 1994 ( "Agreement ") with Vantex Enterprises Inc., ("Subdivider"), as a condition of final plat approval for Filing 5, Blue Lake Subdivision; and WHEREAS, the Subdivider provided collateral in the form of an Escrow Agreement to guarantee the faithful completion of the public improvements in the project; and WHEREAS, Paragraph 2.2 of the Agreement allows the Subdivider to apply for partial releases of collateral, all as described therein; and WHEREAS, Subdivider has represented to the Board, and members of the County staff have corroborated the Subdivider's representations, that improvements required under the Agreement have been partially completed in a satisfactory manner (Exhibit A); and WHEREAS, the Subdivider has requested a reduction in the amount of $376,13.7.45, leaving a balance of $1,140,981.05 to be collateralized under the existing Escrow Account: Original SIA $1,517,118.50 First Partial Release $ 376,137.45 Remaining Collateralized Improvements $1,140,981.05 Based upon the oral and written recommendations of the County staff, THE BOARD FINDS that the Subdivider's obligations under the Agreement have been partially satisfied. 540618 B -644 P -573 07/06/94 02:06P PG 1 OF 10 REC DOC Sara J. Fisher Eagle County Clerk & Recorder 0.00 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF THE COUNTY OF EAGLE, STATE OF COLORADO: THAT, a reduction in the collateral in the amount of $376,137.45 for a remaining balance of $1,140,981.05 is granted. THAT, the partial.release of collateral granted hereby shall not in any way abrogate the rights of the Board in enforcing the Subdivider's performance of his outstanding obligations under the Agreement. THAT, the remaining balance of $1,140,981.05 which remains in the Escrow Account is currently sufficient to cover the collateral which will be required upon commencement of the warranty period as defined in Paragraph 2.3 of the Agreement. THAT, this partial release of collateral in no way signifies the commencement of any warranty period; the warranty period shall begin on the date all work is complete and accepted by the County, pursuant to Paragraph 2.3 of the Agreement. THAT, all other provisions of the Agreement shall remain in full force and effect. MOVED, READ AND ADOPTED by the Board of County Commissioners of the County of Eagle, State of Colorado, this 6 day of July, 1994. ATTEST: �L Clerk to the Bdfird of County Commissioners COUNTY OF EAGLE, STATE OF COLORADO, By and Through Its BOARD OF COUNTY COMMISSIONERS 11 By: ohnnette Phillips, Ch irman s E. J , ommissioner � 4 George A. Gates, Commissioner 540618 B -644 P -573 07/06/94 02:06P PG 2 OF 10 Commissioner seconded adoption of the foregoing reso tion. The ro�hving been called, the vote was as follows: Commissioner Johnnette Phillips Commissioner James E. Johnson, Jr. Commissioner George A. Gates This Resolution passed by 9 — 0 vote of the Board of County Commissioners of the County of Eagle, State of Colorado. r \blueV.par sub # 84 -33 0 540618 B -644 P -573 07/06/94 02:06P PG 3 OF 10 -3- MEMORANDUM EAGLE COUNTY ENGINEERING TO: Maureen Amundson, Attorney's Office FROM: John Althoff, Engineering ` �/ DATE: June 24, 1994 ''VV RE: Blue Lake Filing #5 This memo with the attached Collateral Release Summary replaces the memo I sent to you on June 20, 1994. Recommend a first partial release of $376,137.45. 540618 CC: B -644 P -573 07/06/94 02:06P PG 4 OF 10 Larry Metternick File H181T A 1H 4 -; 540618 n °-�44 P -573 07/06/94 02:06P PG 5 COLLATERAL RELEASE SUMMARY SIA: Blue Lake, Filing 5 First Partial Release DATE: June 23, 1994 ORIGINAL EXHIBIT A: ITEM Site Work Site Grading & Subgrade Preparation Landscaping, Trees, Vegetation, Irrigation OF 10 AMOUNT QUANTITY COLLATERALIZED Lump Sum $ 80,000.00 Lump Sum $ 39,000.00 Subtotal $119,000.00 Streets & Drainage Class 2 (Pit Run) Class 6 ABC 2 Asphalt 2 Asphalt Ped /Bike Path Concrete Curb & Gutter Concrete Sidewalk Concrete Cross Pan Sidewalk Ramps Curb Openings 18" CMP w /Flared Ends 24" CMP w /Flared Ends 64 1 lx43" ACMP Culvert w /Bed Concrete Culvert Headwalls Riprap w /Bedding Material Street Signs 36" Dia. RCP Blue Crek Conduit (Class 3) 48 11 x36" Dia. RCP Transition Conduit (Class 3) 36" Inlet Structure w /Trash Rack 5' Dia. Manhole w /Lid 12" SDR 26 PVC Pipe (Ditch Siphon) 71 1 lx47" CMPA Culvert 12" Flume (Parshall) 10,400 C. Y. $ 52,000.00 5,500 C. Y. $ 38,500.00 22,240 S. Y. $113,424.00 2,373 S. Y. $ 13,051.50 10,560 L.F. $100,320.00 42,240 S. F. $ 95,040.00 3,294 S. F. $ 16,470.00 8 Each $ 400.00 5 Each $ 4,250.00 96 Each $ 1,824.00 253 Each $ 5,566.00 240 L.F. $ 12,000.00 2 Each $ 8,000.00 290 S.Y. $ 7,250.00 7 Each $ 1,050.00 650 L.F. $ 32,500.00 8 L.F. $ 400.00 Lump Sum $ 800.00 2 Each $ 3,400.00 200 L.F. $ 3,200.00 50 L.F. $ 4,000.00 1 Each $ 900.00 Subtotal Waterline $514,345.50 CZ C# C� 8 DIP Class 52 w /Polywrap 5,180 L.F. $ 88,060.00 8" Gate Valve 18 Each $ 9,450.00 540618 D -,644 P -573 07/06/94 02:06 PG 6 OF 10 Collateral Release Summary Blue Lake F5 Page 2 ORIGINAL EXHIBIT A (CONTINUED): AMOUNT ITEM QUANTITY COLLATERALIZED Waterline (Continued Fire Hydrant w /6" lateral, valve & tee 13 Each $ 23,400.00 Tees 4 Each $ 800.00 3/4" Water Service w /Stops & Box 90 Each $ 54,000.00 Sleeve Interconnection 2 Each $ 1,000.00 Subtotal $176,710.00 Sewerline 4' Dia. Manholes w /Lids 27 Each $ 45,900.00 8 SDR35 PVC Sewer Pipe 3,321 L.F. $ 59,778.00 4 SDR26 PVC CL160 Pipe 750 L.F. $ 9,000.00 Concrete Encasement 55 L.F. $ 2,750.00 4 PVC service w /wyes 90 Each $ 54,000.00 Sanitary Sewer Lift Sta. Lump Sum $ 21,000.00 Subtotal $192,428.00 Utilities 4' Deep Trench 5,350 L.F. $ 16,050.00 3' Deep Trench 12,400 L.F. $ 24,800.00 Transformer Vault 22 Each $ 2,200.00 Gas Lump Sum $ 17,500.00 Electric Lump Sum $120,400.00 Street Lights 4 Each $ 4,000.00 Subtotal $184,950.00 Irrigation Ditch Improvements (Arnold /Cerise 24" Ultraflo Pipe w /Gasket Joints 4' Dia. Manhole w /Lid 90" Dia. Manhole w /Lid & Headgates 24" Flared End Section w /Trash Rack Diversion Structure (concrete) w /headgates and flume 24" CMP 8 DIP Drain Line 8 Gate Valve (Drain Line) Riprap 2,000 L.F. 6 Each Lump Sum 1 Each $ 90,000.00 $ 10,200.00 $ 4,500.00 $ 450.00 Lump Sum $ 5,000.00 170 L.F. $ 3,740.00 160 L.F. $ 2,880.00 1 Each $ 550.00 50 S.Y. $ 1,250.00 Subtotal $118,570.00 f "> P .� 540618 P °544 P -573 07/06/94 02:06P.,,PG 7 OF 10 r Collateral Release Summary Blue Lake F5 Page 3 ORIGINAL EXHIBIT A (CONTINUED): AMOUNT ITEM QUANTITY COLLATERALIZED Park Area Site Grading Lump Sum $ 15,000.00 2 Asphalt Paving 2,020 S.Y. $ 11,110.00 2" Asphalt Ped /Bike Path 890 S.Y. $ 4,895.00 Class 6 ABC 880 C.Y. $ 6,160.00 Beach Sand 250 C.Y. $ 5,000.00 Restroom Facility Lump Sum $ 22,000.00 San. Sewer Service 1 Each $ 900.00 Water Services 1 Each $ 1,050.00 Pavilion Structure & Pad 1 Each $ 30,000.00 Shelters & Docks Lump Sum $ 25,000.00 Game /Playground Area Lump Sum $ 10,000.00 Furnishings, Tables, Benches, BBQ's, Trash Receptacles Lump Sum $ 8,000.00 Site Lights 8 Each $ 12,000.00 Landscaping, Trees, Vegetation, Irrigation Lump Sum $ 60,000.00 Subtotal $211,115.00 ORIGINAL EXHIBIT A TOTAL $1,517,118.50 IMPROVEMENTS COMPLETED: AMOUNT ITEM QUANTITY COMPLETED Site Work Site Grading & Subgrade 500 Preparation Lump Sum $ 55,000.00 Landscaping, Trees, 0 Vegetation, Irrigation Lump Sum $ -0- Subtotal $ 55,000.00 Streets & Drainaae Class 2 (Pit Run) 1,000 C.Y. $ 11,000.00 Class 6 ABC 0 C.Y. $ -0- 2 Asphalt 0 S.Y. $ . -0- 2" Asphalt Ped /Bike Path 0 S.Y. $ -0- Concrete Curb & Gutter 0 L.F. $ -0- Concrete Sidewalk 0 S.F. $ -0- Concrete Cross Pan 0 S.F.. $ -0- `A. r,4 540618 x'944 P -573 07/06/94 02:06T �PG 8 -0- OF 10 Rack 0 Lump Sum $ -0- 59,778.00 0 Each Collateral Release Summary -0- -0- Siphon) 0 L.F. $ Blue Lake FS 2,750.00 0 L.F. $ -0- Page 4 0 Each $ -0- a- Subtotal $ 63,120.00 AMOUNT . ITEM QUANTITY COMPLETED Streets & Drainage (Continued) Sidewalk Ramps 0 Each $ -0- Curb Openings 0 Each $ -0- 18" CMP w /Flared Ends 0 Each $ -0- 24" CMP w /Flared Ends 0 Each $ -0- 64 "x43" ACMP Culvert w /Bed 210 L.F. $ 12,000.00 Concrete Culvert Headwalls 2 Each $ 8,000.00 Riprap w /Bedding Material 0 S.Y. $ -0- Street Signs 0 Each $ -0- 36" Dia. RCP Blue Creek Conduit (Class 3) 48 1 lx36" Dia. RCP Transition Conduit (Class 3) 36" Inlet Structure w /Trash 5' Dia. Manhole w /Lid 12" SDR 26 PVC Pipe (Ditch 71 1 lx47" CMPA Culvert 12" Flume (Parshall) Waterline 8 DIP Class 52 w /Polywrap 8 Gate Valve Fire Hydrant w /6" lateral, valve & tee Tees 3/4" Water Service w /Stops Sleeve Interconnection Sewerline 4' Dia. Manholes w /Lids 8 SDR35 PVC Sewer Pipe 4 SDR26 PVC CL160 Pipe Concrete Encasement 4 PVC service w /wyes Sanitary Sewer Lift Sta. Utilities 4' Deep Trench 3' Deep Trench 584 L.F $ 32,120.00 0 L.F. $ -0- 45,000.00 Rack 0 Lump Sum $ -0- 59,778.00 0 Each $ -0- -0- Siphon) 0 L.F. $ -0- 2,750.00 0 L.F. $ -0- C 0 Each $ -0- a- Subtotal $ 63,120.00 2,62.8 L.F. $ 52,560.00 8 Each $ 4,800.00 6 Each $ 13,200.00 2 Each $ 300.00 & Box 0 Each $ -0- 2 Each $ 1,000.00 Subtotal $ 71,860.00 25 Each $ 45,000.00 4,983 L.F. $ 59,778.00 0 L.F. $ -0- 55 L.F. $ 2,750.00 87 Each $ 52,200.00 0 Lump Sum $ -0- Subtotal $159,728.00 0 L.F. $ -0- 0 L.F. $ -0- 540618 :B -644 P -573 07/06/94 02 PG 9 OF 10 Collateral Release Summary Blue Lake F5 Page 5 AMOUNT ITEM QUANTITY COMPLETED Utilities (Continued) Transformer Vault 0 Each $ -0- Gas 0 Lump Sum $ -0- Electric 0 Lump Sum $ -0- Street Lights 0 Each $ -0- $ Subtotal $ -0- Irrigation Ditch Improvements (Arnold /Cerise 24" Ultraflo Pipe w /Gasket Joints 4' Dia. Manhole w /Lid 90" Dia. Manhole w /Lid & Headgates 24" Flared End Section w /Trash Rack Diversion Structure (concrete) w /headgates and flume 24" CMP 8 DIP Drain Line 8" Gate Valve (Drain Line) Riprap Park Area Site Grading 2 Asphalt Paving 2 Asphalt Ped /Bike Path Class 6 ABC Beach Sand Restroom Facility San. Sewer Service Water Services Pavilion Structure & Pad Shelters & Docks Game /Playground Area Furnishings, Tables, Benches, BBQ's, Trash Receptacles Site Lights Landscaping, Trees, Vegetation, Irrigation 2,160 L.F. $ 64,800.00 0 Each $ -0- 0 Lump Sum $ -0- 1 Each $ 450.00 0 Lump Sum $ -0- 145 L.F. $ 2,972.50 0 L.F. $ -0- 0 Each $ -0- 0 S.Y. $ -0- Subtotal $ 68,222.50 0 Lump Sum $ -0- 0 S.Y. $ -0- 0. S.Y. $ -0- 0 C.Y. $ -0- 0 C.Y. $ -0- 0 Lump Sum $ -0- 0 Each $ -0- 0 Each $ -0- 0 Each $ -0- 0 Lump Sum $ -0- 0 Lump Sum $ -0- 0 Lump Sum $ -0- 0 Each $ -0- 0 Lump Sum $ -0- Subtotal $ -0- �J G IMPROVEMENTS COMPLETED TOTAL $417,930.50 Collateral Release Summary Blue Lake F5 Page 6 ORIGINAL EXHIBIT A $1,517,118.50 IMPROVEMENTS COMPLETED $417,930.50 LESS 10% RETAINAGE $ 41,793.05 TOTAL $376,137.45 $ 376,137.45 REVISED COLLATERAL RECOMMENDATION $1,140,981.05 540618 B -644 P -573 07/06/94 02:06P PG 10 OF 10