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HomeMy WebLinkAboutR01-049 final release of collateral for Edwards Nursery' lIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIiIIIIIIII )IIII 104 ' /200 11:52A' c'4 Sa,'a J Fisher Eagle, CO 370 R 0.00 D 0.00 Commissioner a j d A moved adoption of the follo i i'g Resolution: BOARD OF COUNTY COMMISSIONERS COUNTY OF EAGLE, STATE OF COLORADO RESOLUTION NO. 2001- FINAL RELEASE OF COLLATERAL AND TERMINATION OF THE WARRANTY PERIOD FOR EDWARDS NURSERY PUD WHEREAS, on December 29, 1997, B &B Excavating, Inc., a Colorado corporation and the Board of County Commissioners of Eagle County, Colorado (hereinafter "Board ") entered into a Subdivisions Improvements Agreement (hereinafter "Agreement ") concerning the development of Edwards Nursery PUD; and WHEREAS, on January 13, 1998, the County entered into a Consent for Assignment and Assumption of Obligations for the Edwards Nursery Subdivision Improvements Agreement allowing B &B Excavating Inc. to transfer its obligations as defined in the Agreement to Sandra R. Jones d/b /a Colorado Alpines ( "Subdivider "); and WHEREAS, by Eagle County Consent No. 99 -07, the County commenced the warranty period for Edwards Nursery PUD, said warranty period to expire March 17, 2001; and WHEREAS, both the Subdivider and the Engineering Department state that the work required under the Agreement is complete and acceptable and the Engineering Department recommends full release of the collateral and the termination of the Subdivision Improvements Agreement, 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. WHEREAS, the warranty period required by the Subdivision Improvements Agreement has ended. 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 Subdivision Improvements Agreement for Edwards Nursery PUD. 754199 04/11/2001 11:52A Sara J Fisher Eagle: CO 370 R 0.00 D 0.00 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 Edwards Nursery PUD has been successfully completed and that the Subdivider's obligations under the Agreement are complete. THAT, the Letter of Credit No. 0227 -1- 022802 issued by Colorado Business Bank be returned. Commissioner d ,_ seconded adoption of the foregoing resolution. The roll having been called, th vote was as follows: Commissioner Tom C. Stone Commissioner Michael C. Gallagher Commissioner Am M. Menconi This Resolution passed by (3 "© vote of the Board of County Commis- sioners of the County of Eagle, State of Colorado. GAJackie \ConsentTinal Collateral\Edwards Nursery PUD.wpd File No. 96 -141 m C" G U D1\/ E1 MVI JI U EAGLE COUNTY ENGINEERING TO: Jacqueline Crawford, Paralegal Eagle County Attorney's Office FROM: John M. Vengrin� Engineering Department DATE: March 14, 2001 RE D EAGLE COUNTY ATTORNEY RE: PDF- 00001, Edwards Nursery PUD Subdivision and Off -Site Improvements Agreement (SIA), End of Warranty Period and Termination of SIA By his letter dated February 7, 2001 and received by the Engineering Department on February 8, 2001, Mr. Marty Jones has requested an inspection of the improvements for the Edwards Nursery PUD. The two year warranty period for the improvements ends on March 17, 2001. Today, I conducted an inspection of the improvements and found everything to have survived the two year warranty period in good condition. Therefore, it is my recommendation that all of the remaining collateral be released and that the SIA be terminated. The amount of the remaining collateral is $8,839.72 per Consent No. 99 -07. Pc: Helen Migchelbrink, County Engineer 754199 Page: 3 of 3 Marty Jones, Colorado Alpines, Inc. 04 /11/2001 11:52A Chrono Sara J Fisher Eagle Co 370 R 0.00 D 0.00 File PDF -00001 EXHIBIT