HomeMy WebLinkAboutR99-051 Cordillera Filing 17 final releaseJ
Commissioner moved adoption
of the following Resolution:
BOARD OF COUNTY COMMISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION NO. 99 -C61_
FINAL RELEASE OF COLLATERAL
AND
TERMINATION OF THE SUBDIVISION IMPROVEMENTS AGREEMENT
FOR
CORDILLERA SUBDIVISION, FILING 17
WHEREAS, pursuant to C.R.S. §30 -28 -137, the Board of County
Commissioners of the County of Eagle, State of Colorado ( "County ")
entered into a Subdivision Improvements Agreement dated July 18,
1994 ( "Agreement ") with Stag Gulch Partners, A Colorado General
Partnership ("Subdivider") as a condition of the County's final plat
approval for Cordillera Subdivision, Filing 17; and
WHEREAS, by Eagle County Consent No. 98 -04, the County
commenced the warranty period for Cordillera Subdivision, Filing
17, said warranty period to expire November 12, 1998; 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 Improve-
ments Agreement as stated in Exhibit "A ", attached hereto and
incorporated herein by this reference; and
WHEREAS, based upon the oral and written recommendations of
the County staff, THE BOARD FINDS that the Subdivider's obligations
under the Agreement have been satisfied.
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 Improvements
Agreement for Cordillera Subdivision, Filing 17.
THAT, the Letter of Credit No. 5801732 issued by Norwest Banks
of Colorado in the amount of $112,677.37, which represents ten
percent (10%) of the original cost estimate, be terminated.
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THAT, this document shall be recorded in the Records of the
Eagle County Clerk and Recorder, which shall be evidence that the
termination of the Agreement for Cordillera Subdivision, Filing 17,
has been successfully completed and that the Subdivider's obliga-
tions under the Agreement are complete.
MOVED, READ AND ADOPTED by the Board of County Commissioners
of the County of Eagle, State of Colorado, at its regular meeting
held the ay of �eO , 1999.
ATTEST:
Cl to theVSoard of
County Commissioners
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
BOARD OF COUNTY COMMISSIONERS
d
B �L2
Y�
ohnnette Phillips
Chairman
Commissioner seconded adoption of the
foregoing resolution. Th6 roll having been called, the vote was as
follows:
Commissioner Johnnette Phillips
Commissioner Tom C. Stone
Commissioner James E. Johnson, Jr. 0
This Resolution passed by d .n vote of the Board
of County Commissioners of the County of Eagle, State of Colorado.
#87 -84
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Tom C. Stone
Commissioner
MEMORANDUM
EAGLE COUNTY ENGINEERING
TO: Kathy Walter / Attorney's Office -
FROM: Karen Filter / Engineering - .� ✓ � 1,Lil,146, 2
DATE: March 23, 1999
RE: Collateral realease : Filing 17, Cordillera
Weather has allowed a final inspection of the roads in Filing
17 at Cordillera at the Ranch. The SIA termination and collateral
release is recommended based,on the satisfactory performance of the
roads.
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xc: George Roussos
chrono -file
