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HomeMy WebLinkAboutR99-099 Mountain Meadows Ranch final releaset �f Commissioner moved adoption of the f flowing Resolution: S j. : r � {Am BOARD OF COUNTY COMMISSIONERS COUNTY OF EAGLE, STATE OF COLORADO RESOLUTION NO. 99- qq FINAL RELEASE OF COLLATERAL AND SUBDIVISION FOR TERMINATION OF THE IMPROVEMENTS MOUNTAIN MEADOWS RANCH - FILING 2 WHEREAS, pursuant to C.R.S. X30 -28 -137, the Board of County Commissioners of the County of Eagle, State of Colorado ( "County ") entered into a Subdivision Improvements Agreement dated June 16, 1997 ( "Agreement ") with Mountain Meadows Ranch, A Colorado limited partnership( "Subdivider ".) in exchange for the release of a certain i� Deed of Trust by the County(recorded at Book 729, page 760); and amg � n V WHEREAS, the Subdivider provided letter of credit no. 105 � a issued by Alpine Bank in the amount of $36,758.70 as required by — L. ! the Agreement; and �N A �F WHEREAS, both the Subdivider and the Engineering Department m 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 - �m m ments Agreement as stated in Exhibit "A ", attached hereto and m incorporated herein by this reference; and =m o WHEREAS, based upon the oral and written recommendations of �� m the County staff, THE BOARD FINDS that the Subdivider's obligations i� lz under the Agreement have been satisfied. =m 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 Mountain Meadows Ranch, Filing 2. THAT, the Letter of Credit No. 105 issued by Alpine Bank in the amount of $36,758.70, which represents ten percent (10 %) of the original cost estimate, be terminated. THAT, this document shall be recorded in the Records of the Eagle County Clerk and Recorder, which shall be evidence that the term.nation of the Agreement for Mountain Meadows Ranch, Filing 2, 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, to of Colorado, at its regular meeting held the /qC4,d of C ,I,g , 1999. COUNTY OF EAGLE, STATE OF £a..te ca COLORADO, By and Through Its ATTEST: N`}J z BOARD OF COUNTY COMMISSIONERS `O {OF+AD .i By?Cha m ette . Clerk to the oar of Phi lips County Commissioners an To m C. Stone Commissioner es E. Jo , ommissioner Commissioner &V rrx 9 seconded adoption of the foregoing resolution. 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 R - 0 vote of the Board of County Commissioners of the County of Eagle, State of Colorado. #82 -251 G:\ \FIN.6fi:R 111 11111 IN IN 700096 06/16/1999 03:53P 370 Sara Fisher 2 of 3 R 0.00 D 0.00 N 0.00 Eagle CO IVi�►�C1 U1 iu EAGLE COUNTY ENGINEERING TO: Kathy Walter / FROM: Karen Filter / DATE: May 20, 1999 Attorney's Office Engineering - RE: Collateral release : Mountain Meadow Ranch - filing 2 Vista Hi Dr. has been inspected for general road performance and compliance to the SIA. Comments are as follows: 1. Road grade and shoulder performance is acceptable. Corrections in the deep fill area have proven successful through the extended warranty period. 2. Culverts are in place as agreed; however, the culvert at approx. 17 +65 is beginning to fill with soil and rocks from the steep embankment northeast of it. A screen cover at the mouth of the CMP or a bowl in the grade outside the culvert entrance is recom- mended. Release of collateral representing loo retainage for the warranty period and termination of the SIA is recommended. 1 111111 11111 11111111111111111 111111111111111111 1111 IN 700096 06/16/1999 03:53P 370 Sara Fisher 3 of 3 R 0.00 D 0.00 N 0.00 Eagle CO xc: George Roussos, Eagle County Engineer chrono -file