HomeMy WebLinkAboutR03-076 Final Release of Collateral for Cordillera, Filing 35 File No. PDF-00036r • •
Commissioner moved adoption
of the following Resolution:
BOARD OF COUNTY COIVIMISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION N0.2003- ®~O
FINAL RELEASE OF COLLATERAL
AND
TERIVIINATION OF THE WARRANTY PERIOD
FOR
CORDILLERA, FILING 35
Planning File No: PDF-00036
WHEREAS, on June 28, 1999, Squaw Creek Realty Corp., a Colorado corporation
("Subdivider") and the Board of County Commissioners of Eagle County, Colorado (hereinafter
"Board") entered into a Subdivision Improvements Agreement (hereinafter "Agreement")
concerning the development of Cordillera, Filing 35; 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, TIC 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
CONIlVHSSIONERS 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, Filing 35.
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 Cordillera, Filing 35 has been
successfully completed and that the Subdivider's obligations under the Agreement are complete.
THAT, the Letter of Credit No. NVS418237 issued by Wells Fargo Bank be returned.
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THAT, Eagle County does not assume responsibility for maintenance or upkeep of the
roads in Cordillera, Filing 35.
MOVED, READ AND ADOPTED by the Board of County Commissioners of the
County of Eagle, State of Colorado, at its regular meeting held the ~1°~day of June, 2003.
ATTEST:
By:
Clerk to the Bliard of
County Commissioners
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By:
By: I~
Tom .Stone
Commissioner
Commissioner ~/~~2~'~ seconded adoption of the foregoing resolution. The roll
having been called, the vote was as follows:
Commissioner Michael L. Gallagher
Commissioner Arn M. Menconi
Commissioner Tom C. Stone ~/~
This Resolution passed by ~~ ~j vote of the Board of County Commis-
sinners of the County of Eagle, State of Colorado.
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
OARD OF COUNTY CONMSSIONERS
G:\jks\resolutions\\final release cordillera Filing 35
File No. 87-84
Commissioner
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MEMORANDUM
EAGLE COUNTY ENGINEERING
TO: Janice Scofield, Attorney's Office
FROM: Mike Gruber /Engineering ~ ~~ ~~f
DATE: June 4, 2003
RE: Cordillera, Filing 35, 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 35 under the warranty period as established by Consent Resolution No.2001-35. Water witness
drawings were received on May 30, 2003. There is no sanitary sewer infrastructure within this filing.
Subdivision improvements as-built drawings were received on May 30, 2003 with a letter affidavit of
monumentation signed by the project engineer.
Inspection was conducted by me on May 16, 2003. The improvements are complete, have survived the
two-year warranty and are acceptable per the terms and conditions of the Subdivision Improvements
Agreement.
I recommend termination of the Agreement -and release of the remaining collateral in the amount of
$149,900.43 which represents 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 private roadways. County
maintenance is not required for these roadways.
xc: Helen Migchelbrink, County Engineer
Justin Hildreth, Project Engineer
Chrono/File
EXHIBIT
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