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HomeMy WebLinkAboutR03-131 Final Release of Collateral Cordillera, Filing 41• ~ ~~c~ ,~ Commissioner ~ moved adoption oft a 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 CORDILLERA, FILING 41 WHEREAS, on June 19, 2000, Squaw Creek Realty Corp., a Colorado General Partnership (hereinafter "Subdivider") and the Board of County Commissioners of Eagle Countyr, Colorado (hereinafter "Board") entered into a Subdivision and Off-Site Improvements Agreement (hereinafter "Agreement") concerning the development of Cordillera, Filing 41; 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 41. 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 41 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 in the amount of $1,875.00 be issued to the Subdivider. THAT, Eagle County does not assume responsibility for maintenance or upkeep of { I /0814/2003 11:47A Teak J Simonton Eagle, CO 3i0 R 0.00 D 0.00 . ~ these improvements. • 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 ~ .c,:~ 2003. o~ ~~~ c~, e,~ ~ ~ ATTEST: ~~ Clerk to the Board of County Commissioners ®* .~~A By: By: i' OF EAGLE, STATE OF ADO, By and Through Its OF COUNTY COMMISSIONERS Michael L. Galla er Chairman Commissioner ~~~/LJ(' ,~ seconded adoption of the foregoing resolution. The roll having been called, the vote was as follows: Commissioner Michael L. Gallagher Commissioner Tom C. Stone /' ,r ~ Commissioner Arn M. Menconi ~ _., This Resolution passed by ~~,~~~~~~~ vote of the Board of County Commis- sioners of the County of Eagle, State of Colorado. G:\jks\resolutions\\final release cordillera Filing 41 File No. 87-84 ` ~ $5569 I ~ Page: 2 of 3 10/14/2003 11:47A Teak J Simonton Eagle CO I 3.0 R 0.00 D 0.00 Commissioner ~ ~ MEMORANDUM EAGLE COUNTY ENGINEERING E~,~-, TO: Janice Scofield, Attorney's Office ~ ° ' ~ : ~ a -, . ; r !~ n / l Ir FROM: Mike Gruber, Engineering ~~ ~~~ - DATE: September 16, 2003 - ~ - ~ , --~ RE: Cordillera, Filing 41, 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 41 under the warranty period as established by Consent Resolution No. 2001-26. 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 Improvements Agreement. I recommend termination of the Agreement and release of the remaining collateral in the amount of. $1,875.00. 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 golf cart crossings of private roadways and crossing '' warning signs. County maintenance is not required of these improvements. # # # IN,~NIIIINIINNINVnInIIIIIIN!!Iltlll!IIIIII,SS'sfi9 Pc: Helen Migchelbrink, County Engineer Justin Hildreth, Project Engineer John Cahill, Director of Construction, Cordillera Chrono/File EXHIBIT ~~~ e