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HomeMy WebLinkAboutR04-018 Brett Ranch PUD Final Release of Collateral 7 • • • Commissione - moved adoption of the folio . g Resolution: BOARD OF COUNTY COMMISSIONERS COUNTY OF EAGLE, STATE OF COLORADO RESOLUTION NO. 2004- (7/ 6 FINAL RELEASE OF COLLATERAL AND TERMINATION OF THE WARRANTY PERIOD FOR AREA A, ON -SITE AND LAKE CREEK VILLAGE DRIVE FOR BRETT RANCH PUD File No. PDF -00015 WHEREAS, the County Commissioners of Eagle County, Colorado (hereinafter "Board ") entered into a Subdivision Improvements Agreement dated May 18, 1998 (hereinafter "Agreement ") concerning Area A, On -Site and Lake Creek Village Drive for Brett Ranch PUD; 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 Improvements Agreement, see Exhibit "A" attached hereto and incorporated herein by this reference. Based upon recommendations of the County staff, THE BOARD FINDS that the Subdivider's obligations under the Agreement have been satisfied. WHEREAS, the warranty period required by the Subdivision Improvements Agreement for Area A, On -Site and Lake Creek Village Drive, Brett Ranch PUD has ended. 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 Area A, On -site and Lake Creek Village Drive for Brett Ranch PUD. 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 Area A, On -Site and Lake Creek Village Drive, Brett Ranch PUD has been successfully completed and that the Subdivider's obligations under the Agreement are complete. 868287 Page: 1 of 3 02/19/2004 12:59P Teak J Simonton Eagle; CO 370 R 0.00 D 0.00 THAT, the cash collateral held by the Treasurer be released and a warrant in the amount of $98,491.11 be issued to the Subdivider. THAT, Eagle County accepts the following roadway for maintenance and inclusion in the Eagle County Road Inventory: An extension of Lake Creek Village Drive from the easterly end of the existing road for an approximate distance of 1,044 feet (0.198 miles) to the east. MOVED, READ AND ADOPTED by the Board of County Commissions of the County of Eagle, State of Colorado, at its regular meeting held the/ ~~day ,, , 2004. ....r..... °~` ~cc~ `` ~I ~ ~ ATTEST: ,? =~ ~~ ~e By: *- -,~- Clerk to the Board of County Commissioners COUNTY OF EAGLE, STATE OF COLORADO, By and Through Its BOARD OF COUNTY COMMISSIONERS By: 6y ti.r 6 ~jc1~'~(i Tom C. Stone Chairman B ' /~ ~' ~ ~ y: - ~- Mic el L. Gallagher er By: . Menconi `, Commissioner Commissioner ~ ~ - ~~ seconded adoption of the foregoing resolution. The roll having been called, e vote was as follows: Commissioner Tom C. Stone ~ ~-~~~..~~___--`~ Commissioner Michael L. Gallagher ~ ~~ ~%' CommissionerArn M. Menconi /" This Resolution passed by G~~'~ilc'~G,Z~'Z. ,~,.--vote of the Board of County Commis- sioners of the County of Eagle, State of Colorado. G:UKS~resoluHons~final release Brett ranch.DOC File No. 97-07 llllll llll ll~l 11 lltlll 111 111 868 8]..:00 MEMORANDUM EAGLE COUNTY ENGINEERING TO: Janice Scofield, Attorney's Office FROM: Mike Gruber /Engineering ~ /~ ~ `~.1~ DATE: February 4, 2004 RE: Brett Ranch, Area A (Lake Creek Village Drive and On-Site), Release of Collateral and Termination of the Warranty Period Ms. Sandra Mendonca, Project Manager, Inter-Mountain Engineering Ltd., representing the developer, has submitted a formal request for collateral release and end of the warranty period for the subject areas. Inspection of work under the warranty period as established by Consent Numbers 2001-20 and 2001-27 was conducted by Eagle County Engineering staff. Water and sewer witness drawings were received on December 15, 2003. Subdivision improvements as-built drawings were received on January 27, 2004. The improvements are complete, have survived the two-year warranty and are acceptable per the terms and conditions of the Subdivision Improvements Agreement. I recommend termination of the Agreement and release of the remaining collateral in the amount of $98,491.11. This amount is equivalent to the 10% of the improvements cost being retained until successful completion of the warranty period and fulfillment of the terms and conditions of the Subdivision Improvements Agreement. , In the resolution for this SIA release, please add that Eagle County acce~cs the following roadway for maintenance and inclusion in the Eagle County Road Inventory: An extension of Lake Creek Village Drive from the easterly end of the existing road for an approximate distance of 1,044 feet (0.198 miles) to the east. # # # Pc: Helen Migchelbrink, County Engineer Justin Hildreth, Project Engineer Sandra Mendonca, Project Manager, Inter-Mountain Engineering Ltd. Chrono/File G:\Mike Gruber\DOCS\SUBDIV\cun•ent-actv~Brett Ranch 'A' onsite_LVillageDR_TERM.DOC EXHIBIT 8682$7 `~ •• Page: 3 of 3 02!19/2004 12:59P Teak J Simonton Eagle, CO 370 R 0.00 D 0.00