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HomeMy WebLinkAboutR99-090 El Jebel Texaco PUD final releaseCommissioner \ �— moved adoption of the following Resolution: BOARD OF COUNTY COMMISSIONERS COUNTY OF EAGLE, STATE OF COLORADO RESOLUTION NO. 99- _ 299L? FINAL RELEASE OF COLLATERAL AND TERMINATION OF THE SUBDIVISION IMPROVEMENTS AGREEMENT FOR EL JEBEL TEXACO PUD 0 }0 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 ( "Agreement ") dated February 15, 1994 with June Crawford, as General Partner of F. B. Crawford & Co., J.A. Crawford & Co., Colorado Partnerships and the Crawford Family Limited Partnership, a Colorado Limited Partnership, as a condition of the County's final plat approval for planned unit development known as the El Jebel Texaco PUD; and WHEREAS, on March 18, 1994, the County approved a Consent to Assignment and Assumption of Certain Obligations recorded in Book 637 at page 255 of the records of the Eagle County Clerk and Recorder, by and between the Crawfords and Kevin Tucker and Tammy Tucker, (hereinafter referred to as "Tuckers ") wherein the Tuckers agreed to undertake the obligations of the Agreement, the Tuckers provided the County with letter of credit no. 5800292 from Norwest Banks, as collateral for the work required under the Agreement; and WHEREAS, on February 27, 1995, the Tuckers and Wend Colorado Partnership, (hereinafter collectively referred to as "Subdivider ") and the Board entered into an Agreement to amend the El Jebel Texaco PUD; such amendment required the Subdivider to post collateral for the additional public and off -site improvements associated with the PUD Amendment; and WHEREAS, the Wend Colorado Partnership provided the County with collateral in the amount of $8,000.00 for the improvements associated with the PUD Amendment in the form of a cash deposit with the Eagle County Treasurer's Office; and 111111111111111111 IN 111111 IN 111111 III 1111111111111 699160 06/08/1999 04:44P 370 Sara Fisher 1 of 4 R 0.00 D 0.00 N 0.00 Eagle CO WHEREAS, by Eagle County Consent No. 97 -02, the Eagle County Treasurer provided a warrant to Wend Colorado Partnership in the amount of $873.50; and WHEREAS, the County currently holds $13,424.00, $7,126.50 in cash and $6,297.50 by letter of credit s800292, issued by Norwest Banks; and WHEREAS, by Eagle County Consent No. 97 -05, the County commenced the warranty period for El Jebel Texaco PUD, said warranty period to expire April 22, 1999; 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 E1 Jebel Texaco PUD. THAT, the Letter of Credit No. 5800292 issued by Norwest Banks of Colorado in the amount of $6,297.50, be terminated. THAT, the Board hereby directs the Eagle County Treasurer to issue a warrant to Wend Colorado Partnership, in the amount of $7,126.50. THAT, the improvements entailing the construction of utility infrastructure and private roadways (parking lot and driveways) do not require County maintenance. 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 E1 Jebel Texaco PUD, has been successfully completed and that the Subdivider's obligations under the Agreement are complete. 1 111111 "III "11'11 "II 111111 1111 111111 III 11111 IIII IN 699180 06/08/1999 04:44P 370 Sera Fisher 2 of 4 R 0.00 D 0.00 N 0.00 Eagle CO 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 1999. ATTEST: F COUNTY OF EAGLE, STATE OF COLORADO, By and Through Its OARD OF COUNTY COMMISSIONERS a6t k to the Board o County Commissioners tohnnette Phillips Chairman '�' 8 Tom C. Stone Commissioner Commissioner Z seconded adoption of the foregoing reso ution. The roll having been called, the vote was as follows: Commissioner Johnnette Phillips Commissioner Tom C. Stone _ Commissioner James E. Johnson, Jr. This Resolution passed by /�7 gz Al L'd1' vote of the Board of County Commissioners of the County of Eagle, State of Colorado. 1111111 III1111' 1 1 1111111111IN111111 III"I" 1111 IN 699160 06/08/1999 04:44P 370 Sara Fisher 3 of 4 R 0.00 D 0.00 N 0.00 Eagle CO #94 -09 G: \RAW \R \FIN.ELJ a ' MEMORANDUM Y EAGLE COUNTY ENGINEERING TO: Kathy Walter / Attorney's Office pp r FROM: Mike Gruber / Engineering��� DATE: May 4, 1999 RE: El Jebel Texaco PUD, Final Collateral Release, Termination of SIA Inspection was performed on May 3, 1999 after the completion date of the warranty period as determined by Consent No. 97 -05. The improvements are complete, having survived the two year warranty and are acceptable per the terms and conditions of the SIA. These improvements entail the construction of utility infrastructure and private roadways (parking lot and driveways). County maintenance is not required for these roadways. Release of collateral and termination of the SIA is recommended. 111111 11111 699180 11111111111 111111 IN 05/08/1999 04:44P 370 III11I 111 Sara 111111111 IIII Fisher 4 of 4 R 0.00 D 0.00 N 0.00 Eagle CO cc: George Roussos, County Engineer Nancy Lewis, Attorney's Office Chrono /File