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HomeMy WebLinkAboutR03-064 Final Release of Collateral Cordillera Filing No. 31 File No. PDF-00019~~ e ~3-361 `~~``'~ --~ x ~ Page : 1 0~ • ~ ~~ 06/10/20@3 12:13P ' Teak J Simonton Eagle, CO 370 R 0.00 D 0.@0 Commissioner moved adoption oft a following Resolution: BOARD OF COUNTY CONIlVIISSIONERS COUNTY OF EAGLE, STATE OF COLORADO RESOLUTION N0.2003-~ FINAL RELEASE OF COLLATERAL, RELEASE OF PLAT NOTE, AND TERNIINATION OF THE WARRANTY PERIOD FOR CORDILLERA FII.ING NO. 31 File No: PDF-00019 WHEREAS, on September 4, 1998, Kensington Partners, a Colorado General Partnership ("Subdivider") and the Board of County Commissioners of Eagle County, Colorado (hereinafter °Board") entered into a Subdivision and Off-Site Improvements Agreement (hereinafter "Agreement°) concerning the development of Cordillera Filing No. 31; and WHEREAS, pursuant to the Agreement the Subdivider provided the County with collateral for the public improvements required under the Agreement in the form of a Plat Restriction to guarantee the faithful completion of the public improvements. 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 value, as secured by the plat note, and the termination of the Subdivision Improvements Agreement, see Exhibit "A," attached hereto and incorporated herein by this reference. WHEREAS, the warranty period required by the Subdivision Improvements Agreement has ended. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMNII55IONERS OF THE COUNTY OF EAGLE, STATE OF COLORADO: THAT, based upon the oral and written recommendations of the County Engineer and County Attorney, TIC BOARD FINDS that the Subdivider's obligations under the Agreement have been satisfied; and THAT, the Board hereby authorizes the full and final release of collateral value, as secured by the plat note restriction and the termination of the Subdivision and Off-Site Improvements Agreement for Cordillera Filing 31. THAT, this document shall be recorded in the Records of the Eagle County Clerk and _ .-. t 836110 . I Page: 2 of 3 06/10/2003 12:13P Teak J Simonton Eagle, CO 370 R 0.00 D 0.00 Recorder, which shall be evidence that the warranty period for Cordillera Filing 31 has been successfully completed and that the Subdivider's obligations under the Agreement are complete. THAT, the plat restriction as described in the Subdivision and Off-Site Improvements Agreement recorded at Reception number 668666 be released. THAT, Eagle County does not assume responsibility for maintenance or upkeep of the roads in Cordillera Filing 31. MOVED, READ AND ADOPTED by the Board of County Commissioners of the County of Eagle, State of Colorado, at it .regular meeting held th ~ day of June, 2003. ,,poLr: ~~' j e~ UNTY OF EAGLE, STATE OF ~' ~ ORADO, By and Through Its ATTES ~ ~ ~ ~ ARD OF UNTY OMMISS NERS Br ~~' By: lerk to the Board of ~ Michael L. Gallagher County Commissioners Chairman By: _ ~ T C. tone o Toner By: enconi Commissioner Commissioner ~ ~ ~ seconded adoption of the foregoing resolution. The roll having been call d, the vote was as follows: Commissioner Michael L. Gallagher ~~~_,~ Commissioner Tom C. Stone Commissioner Arn M. Menconi ~.C,c.~ > This Resolution passed by ,~~/~ ~/,~ vote of the Board of County Commissioners of the County of Eagle, State of Colorado. G:\jks\resolutions\\final release cordillera Filing 31 File No. 87-84 +_ . ~ 83611 .. ~ Page: 3 of 3 06/1@/2003 12:13P Teak J Simonton Easle, CO 370 R 0.00 D 0.00 MEMORANDUM EAGLE COUNTY ENGINEERING TO: Janice Scofield, Attorney's Office r FROM: Mike Gruber /Engineering `~,~1/~ DATE: May 16, 2003 RE: Cordillera, Filing 31, Release of Collateral and Termination of The Warranty Period Mr. John Cahill, Director of Construction for Cordillera, has made a request for inspection of work for filing 31 under the warranty period as established by Consent Resolution No. 2001-12. Water and sewer witness drawings were received on May 1,2003. Subdivision improvements as-built drawings were received on May 13, 2003. Inspection was conducted by me on Apri121, 2003. The improvements are complete, have survived thetwo-year warranty and are acceptable per the terms and conditions of the Subdivision Improvements Agreement. I recommend termination of the Agreement, release of the plat note, and release of the remaining collateral in the amount of $9,937.68. This amount is equivalent to the 10% of the improvements cost being retained until successful completion of the warranty period and fulfilment of the terms and conditions of the Subdivision Improvements Agreement. These improvements entail the construction of utility infrastructure and a private roadway. County maintenance is not required for this roadway. cc: Helen Migchelbrink, County Engineer Chrono/File EXHIBIT 1! . ~/