HomeMy WebLinkAboutR01-070 final release of collateral for Cordillera Valley Club The Sanctuary' 758134 JQ C
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C , Page: I1,, Sara J Fisher Eagle, Co 370 R @ 00 0530! 1 03:46P'
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Commissioner r-me�t� moved adoption
of the lowing 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
CORDILLERA VALLEY CLUB
FILING 6 — THE SANCTUARY
WHEREAS, on July 9. 1996, Design Concepts Development Corp. ("Subdivider") and
the Board of County Commissioners of Eagle County, Colorado (hereinafter "Board ") entered
into a Subdivisions Improvements Agreement (hereinafter "Agreement ") concerning the
development of Cordillera Valley Club Filing 6, The Sanctuary; and
WHEREAS, by Eagle County Consent No. 99 -24 the County commenced the warranty
period, said warranty period to expire February 1, 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 Cordillera Valley Club, Filing 6 -
The Sanctuary.
C , 758134
Sara J Fisher la I LI1� 05/30/2001 03:46P
gle, c0 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 has been successfully completed and
that the Subdivider's obligations under the Agreement are complete.
THAT, the Letter of Credit No. 9598723 issued by 1st Bank of Avon be returned.
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
__, 2001.
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
BOARD OF COUNTY COMMISSIONERS
to
LIM
Am M. Menco
Commissioner
Commissioner seconded adoption of the foregoing resolution. The roll
having been called, the vot as as follows:
Commissioner
Tom C. Stone 19 _
——
Commissioner
Michael C. Gallagher
Commissioner
Am M. Menconi _ cz
This Resolution passed by 3— vote of the Board of County Commis-
sioners of the County of Eagle, State of Colorado.
GAArchiveAResolutionsTinal Collateral Release\Form.wpd
Tom C. Stone
Chairman
° 758184
05/30/x001 03:46P
Sara J Fisher Eagle, CO 370 R 0.00 D 0.00
MEMORANDUM
EAGLE COUNTY ENGINEERING
TO: Nancy Lewis / Attorney's Office
r
FROM: Mike Gruber / Engineering V, h5-
DATE: April 10, 2001
RE: Cordillera Valley Club, Filing 6 (The Sanctuary) Final
Collateral Release Termination of SIA
Formal request to close out the SIA for this filing was submitted by
Design Concepts Development Corp.
Inspection was conducted after the completion date of the warranty
period as determined by Consent No. 99 -24. The improvements. are
complete, having survived the two year warranty and are acceptable
per the terms and conditions of the SIA. I recommend termination of
the SIA and final release of the collateral in the amount of
$26,741.40 which represents the loo being retained until successful
completion of the warranty period.
These improvements entail the construction of utility infrastructure
and private roadways. County maintenance is not required for these
roadways.
