HomeMy WebLinkAboutR98-150 Strawberry Park Final Relase of Collateral (A::#1(./9/1 • •
j \ VS\
Commissioner _\.,/4_,&_4_.)
moved adoption
of the following Resolution:
BOARD OF COUNTY COMMISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION NO. 98 -J50
FINAL RELEASE OF COLLATERAL
AND
TERMINATION OF THE SUBDIVISION IMPROVEMENTS AGREEMENT
FOR
STRAWBERRY PARR AT BEAVER CREEK
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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 May 9, 1995
("Agreement") with The Vail Corporation, a Colorado Corporation,
final plat approval
s f P
("Subdivider") County's P
the C P
�� condition of Y
Subdivider ) as a cond
for Strawberry Park at Beaver Creek; and
on the
WHEREAS, by Eagle County Consent No. 96 64, based upon
recommendations of the County Engineer and the County Attorney, the
Chairman of the Board authorized the release of collateral in the
amount of $821,988.90, thereby reducing the collateral to
$536,142.11 which amount represents ten percent (100) of the
original cost estimate; and
WHEREAS, by Eagle County Consent No. 97 -29, based upon the
recommendations of the County Engineer and the County Attorney, the
Chairman of the Board authorized the commencement of the warranty
period to expire on December 1, 1998; and
WHEREAS, the County assumes no maintenance duties for the
; mprovements collateralized by the Subdi «ider; and
WHEREAS, the Engineering Department states 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 Improvements Agreement, see
Exhibit "A ", attached hereto and incorporated herein by this
• 111
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, 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 Strawberry Park at Beaver Creek.
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 SIA for Strawberry Park at Beaver Creek 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 Coun y.of Eagle, S to of Colorado, at its regular meeting
held the `U day of , 1998.
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
ATTEST:
BOARD OF COUNTY COMMISSIONERS
��
C erk to the Boar. of A •a -s E. -••
County Commissioners C• -irman
r 11
Georg/A. Gates, Commissioner
/Johnnette Phillips,
Commissioner
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III
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 i
This Resolution passed by ZL.a 22727 vote of the Board
of County Commissioners of the County of Eagle, State of Colorado.
#83 -152
kaw \r \straw.fin
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•
MEMORANDUM
EAGLE COUNTY ENGINEERING
_
r
TO: Kathy Walter, Attorney's Office
FROM: Jerry Brasher, Project Engineer,
DATE: November 3, 1998
RE: Strawberry Park at Beaver Creek - Final Collateral Release
At the request of Kent Rose of Vail Resorts Development Company and in response
to the Eagle County Attorneys Letter of September 30 regarding the expiration of
LOC 5902, I went up to Strawberry Park to conduct a final collateral release
inspection. As a result of the inspection the Engineering Department recommends
the release of the remaining collateral and the termination of the SIA as the
December 1 termination date of the two year warranty period.
The County will not be assuming any maintenance responsibilities for these
improvements.
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I
cc: George Roussos, County Engineer
File EXHIBIT
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