HomeMy WebLinkAboutR03-109 Release of Collateral Cordillera Mountain Tract, Filing 34 File No. PDF-00029,~°"~~
Commissioner ~ ~ ~ ~n~~~z ~ moved adoption
of the following Resolution:
BOARD OF COUNTY COMMISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION „0.2003-~
FINAL RELEASE OF COLLATERAL
AND
TERIVHNATION OF THE WARRANTY PERIOD
FOR
CORDILLERA MOUNTAIN TRACT, FILING 34
File No: PDF-00029
WHEREAS, on December 21, 1998, Kensington Partners, a Colorado General
Partnership ("Subdivider' and the Boazd of County Commissioners of Eagle County, Colorado
(hereinafter "Boazd'~ entered into a Subdivision and Off-Site Improvements Agreement
(hereinafter "Agreement's concerning the development of Cordillera Mountain Tract, Filing 34,
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 and Off-Site
Improvements Agreement, see Exhibit "A,"attached hereto and incorporated herein by this
reference. Based upon the recommendations of the County staff, THE BOARD FINDS that the
Subdivider's obligations under the Agreement have been satisfied.
WHEREAS, the wazranty 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 Boazd hereby auth®rizes the full and final release of collateral and the
termination of the Subdivision Improvements Agreement for Cordillera Mountain Tract, Filing
34;
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 Mountain Tract, Filing
34, has been successfully completed and that the Subdivider's obligations under the Agreement
aze complete.
IIRI A41 ~^I ~ ~~m ~f~ AI ~N e 85136„
THAT, the Letter of Credit No. 5407277/NVS372714 issued by Wells Fargo Bank be
returned.
THAT, Eagle County does not assume responsibility for maintenance or upkeep of the
roads in Cordillera Mountain Tract, Filing 34.
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
September, 2003.
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
TEST: ~ °~ BOARD OF COUNTY COMNIISSIONERS
By: ~ _ .~~_._ . ~ By:
Clerk to the ~ ~ _ ,~ Michael L. Gallagher
County Commission Chairman
By:
To C. tone -
' sinner
By: '
ni
Commissioner
Commissioner L_P ~- seconded adoption of the foregoing resolution. The roll
having been called, the vote was as follows:
CommissionerMichael L. Gallagher ~'"-, ~js~"
Commissioner Tom C. Stone ~~ ~
Commissioner Arn M. Menconi ~ ~> Q
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 34
File No. 87-84
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MEMORANDUM
EAGLE COUNTY ENGINEERING
TO: Janice Scofield, Attorney`s Office
FROM: Mike Gruber /Engineering ~~~ /~[ ~=
DATE: August 18, 2003
RE: Cordillera, Filing 34, 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 34 under the warranty period as established by Consent Resolution No. 2001-37. 'Water
and sewer witness drawings were received on August 12, 2003. Subdivision improvements as-built
drawings were also received. on August 12, 2003.
Inspection was conducted by me on July 18, 2003. The improvements aze complete, have survived
the two-year warranty and aze 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
$257,940.00. This amount is equivalent to the 10% of the improvements cost being retained until
successful completion of the warranty period and fulfillment of the terms and conditions of the
Subdivision• Improvements Agreement.
These improvements entail the construction of utility infi astxucture and private roadways. County
maintenance is not required for these roads.
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Page: 3 of 3
09/25/2003 03:03P
Teak J Simonton Eagle, CO 370 R 0.00 D 0.00
Pc: Helen Migchelbrink, County Engineer
Justin Hildreth, Project Engineer
John Cahill, Director of Construction, Cordillera
Chrono/File
EXHIBIT
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