HomeMy WebLinkAboutR98-104 Ute Creek PUD Final Releas _ ne,
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Commissioner 67 Q,6-,O moved adoption
of the following Resolution:
BOARD OF COUNTY COMMISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION NO. 98- / "7
FINAL RELEASE OF COLLATERAL
AND
TERMINATION OF THE WARRANTY PERIOD
FOR
UTE CREEK PLANNED UNIT DEVELOPMENT
WHEREAS, pursuant to C.R.S. 30- 28 -37, the Board of County
Commissioners of the County of Eagle, State of Colorado
( "Board ")entered into a Subdivision Improvements Agreement
<5
( "Agreement ") dated April 2, 1996, with the Ute Creek Industrial
N Park LLC ( "Subdivider ") as a condition of final plat approval for
Ute Creek Planned Unit Development; and
WHEREAS, pursuant to the Agreement the Subdivider provided the
Board with collateral for those public improvements required under
the Agreement; and
WHEREAS, by Eagle County Resolution No. 96 -37, based upon the
recommendations of the County Engineer and the County Attorney, the
Board authorized the release of collateral in the amount of
$257,192.32 thereby reducing the collateral to $28,576.93 which
amount represented ten percent (10 %) of the public improvements;
and
WHEREAS, the final ten percent(10 %) of the collateral is an
irrevocable Letter of Credit, Number 4400, in the amount of
$28,576.93, issued by Alpine Bank, Grand Junction. The maturity
date on the above referenc Letter of Credit is August 31, 1998;
and
•
WHEREAS, both the Subdivider and the Engineering Department
state that the work required under the Agreement are complete and
acceptable and the Engineering Department recommends full release
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• • •
of the collateral and the termination of the warranty period, see
Exhibit "A ", attached hereto and incorporated herein by this
reference. 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, TEEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF THE COUNTY OF EAGLE, STATE OF COLORADO:
THAT, these improvements entail the construction of a private
roadway, and Eagle County maintenance is not required for this
roadway.
THAT, the Board hereby authorizes the full and final release
of collateral and the termination of the warranty period for Ute
Creek Planned Unit Development.
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 Ute Creek Planned Unit Development has been
successfully completed and that the Subdivider's obligations 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 ��/�,� day of 1998.
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
ATTEST BOARD OF COUNTY COMMISSIONERS
N 1
p l0 GJ
i
Clerk to the Board of •ames E. J. nson,`
County Commissioners Chairman
GeorgeeA. Gates, Commissioner
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• •
.
Johnnette Phillips,
Commissioner
Commissioner seconded adoption of the
foregoing resolution. The roll having been called, the vote was as
follows:
Commissioner James E. Johnson, Jr.
Commissioner George A. Gates
Commissioner Johnnette Phillips �f
This Resolution passed by 3 -p vote of the Board
of County Commissioners of the County of Eagle, State of Colorado.
#95 -141
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"f " , n • •
AIL 2 8 1996 MEMORANDUM
4pG�� COUNT A11pNEY
EAGLE COUNTY ENGINEERING
TO: Kathy Walter / Attorney's Office
FROM: Mike Gruber / Engineering / /4w
DATE: July 27, 1998
RE: Ute Creek Planned Unit Development, L.O.0 #4400
Final Collateral Release, Termination of SIA
Inspection was performed on July 13, 1998 near the completion date
of the warranty period as determined by Consent No. 96 -37. The
improvements are complete and acceptable per the terms and
conditions of the SIA. These improvements entail the construction
of a private roadway. County maintenance is not required for this
roadway. Release of remaining collateral representing 100 of the
estimated improvements cost retained for the warranty period and
termination of the SIA is recommended.
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EXHIBIT
cc: George Roussos, County Engineer
Nancy Lewis, Attorney's Office 1 __,4,L___
Chrono /File
