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HomeMy WebLinkAboutR03-129 Final Release of Collateral Cordillera, Filing 383I~~ • ~ Commissioner ~ ® '~c~ moved adoption of th following Resolution: BOARD OF COUNTY COMMISSIONERS COUNTY OF EAGLE, STATE OF COLORADO RESOLUTION N0.2003 FINAL RELEASE OF COLLATERAL AND TERMINATION OF THE WARRANTY PERIOD FOR CORDII.LERA, FILING 38 WHEREAS, on December 18, 2000, Squaw Creek Realty Corp., a Colorado corporation (hereinafter "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 38; 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 recommendations of the County staff, THE BOARD FIlVDS that the Subdivider's obligations under the Agreement have been satisfied. WHEREAS, the warranty period required by the Subdivision and Off-Site 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 and Off-Site Improvements Agreement for Cordillera, Filing 38. 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 38 has been successfully completed and that the Subdivider's obligations under the Agreement are complete. THAT, the cash collateral held by the Treasurer be released and a warrant be issued in the amount of $8,420.00 to the Subdivider. THAT, Eagle County does not assume responsibility for maintenance or upkeep of the iiiiiiiii~iwi~iiiiiiiMiiiiiii~iaiaiNiNi~iwii 853p6, • ~ roads in Cordillera, Filing 38. MOVED, READ AND ADOPTED by the Board of County Cq~~nmu~ssioners of the County of Eagle, State of Colorado, at its regular meeting held the ~~l-day of ~ ~ 2003. ATTEST: o~~~ ~ ~ ~ ~ ~'® a® COUNTY OF EAGLE, STATE OF COLORADO, By and Through Its BOARD OF COUNTY CONIlVIISSIONERS By: Michael L. Gallagher cos~- ~t~d~ ,~T Clerk to the Board of ~~ County Commissioners By: By: Commissioner ~~~t/Is ~ seconded adoption of the foregoing resolution. The roll having been called, the vote was as follows: CommissionerMichael L. Gallagher Q~~~ > Commissioner Tom C. Stone ~- CommissionerArn M. Menconi ,~ This Resolution passed by 1~~~~~~te of the Board of County Commis- sioners of the County of Eagle, State of Colorado. G:\jks\resolutions\\final release cordillera Filing 38 File No. 87-84 ~I~I~I~~IIIry I~lll„I II' 853567 0 Commissioner • MEMORANDUM EAGLE COUNTY ENGINEERING ,. TO: Janice Scofield, Attorney's Office ;`! ` ~r ~' ; ~ ~4 FROM: Mike Gruber, Engineering ~~~,`` ~~ __ DATE: September 16, 2003 IZE: Cordillera, Filing 38, 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 38 under the warranty period as established by Consent Resolution No. 2001-36. Inspection was conducted by me on September 8, 2003. The improvements are complete, have survived the two-year warranty and are acceptable per the terms and conditions of the Subdivision i Improvements Agreement. I recommend termination of the Agreement and release of the remaining collateral in the amount of $8,420.00. 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 infrastructure and private roadways. County maintenance is not required for these roads. # # # IEIII IIIII Ilklll I~ 111111 IB IIIIIIII III $5357? Page: 3 of 3 10,/14/2003 11:478 R 0.00 D 0.00 Pc: Helen Migchelbrink, County Engineer Justin Hildreth, Project Engineer John Cahill, Director of Construction, Cordillera Chrono/File EXHIBIT ~ ~~ rr