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HomeMy WebLinkAboutR04-085 Cordillera Valley Club Western Entrance Final Release of CollateralIiIN 588165 08~11812~ 04:39P '~ ~ , .-° . Teak J Simonton Eagle. CO 37C R 0.00 D 0.00 Commissioner / a~~~~-~3"~'i moved adoption of the following Resolution: BOARD OF COUNTY COMMISSIONERS COUNTY OF EAGLE, STATE OF COLORADO RESOLUTION N0.2004- ~~~J' J FINAL RELEASE OF COLLATERAL AND TERMINATION OF THE WARRANTY PERIOD FOR CORDILLERA VALLEY CLUB, WESTERN ENTRANCE File No. PDA-00016 WHEREAS, on September 4, 2001, Cordillera Valley Club Investors Limited Partnership, a Colorado Limited Partnership ("Subdivider") and the Board of County Commissioners of Eagle County, Colorado (hereinafter "Board") entered into a Subdivision and Off-Site Improvements Agreement (hereinafter "Agreement") as a condition of approval of an Amendment to the Cordillera Valley Club Planned Unit Development -Western Entrance; and WHEREAS, by Eagle County Consent No. 2002-05, the County commenced the warranty period for Cordillera Valley Club Planned Unit Development, Western Entrance, said warranty period to expire August 22, 2004; and WHEREAS, the Subdivider provided cash collateral in the amount of $23,043.10 which represented the 10% collateral to be held throughout the two-year warranty period; 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 the written recommendations of the County staff, THE BOARD FINDS that the Subdivider's obligations under the Agreement have been satisfied; and WHEREAS, the warranty period required by the Subdivision and Off-Site Improvements Agreement has ended; and 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 and Off-Site Improvements Agreement for Cordillera Valley Club Planned Unit Development, Western Entrance. ~) 888165 i Pa 2 of 3 ~ ?eak J Simonton Eagle COi 3~0 R 0.0@ 08 D 0~0004:39P 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 Cordillera Valley Club Planned Unit Development, Western Entrance has been successfully completed and that the Subdivider's obligations under the Agreement are complete. THAT, Eagle County does not assume responsibility for maintenance or upkeep of the roads in the Cordillera Valley Club Planned Unit Development, Western Entrance. THAT, the Board of County Commissioners hereby directs the Eagle County Treasurer to issue a warrant to the Subdivider in the amount of $23,043.10. 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 August, 2004. ATTEST: COUNTY OF EAGLE, STATE OF COLORADO, By and Through Its BOARD OF COUNTY COMMISSIONERS Doti ,f. ,. .: ~.,triik ~ -r ~ By: Clerk County Commissioners Commissioner Commissioner seconded adoption of the foregoing resolution. The roll having been called, the vote wa follows: Commissioner Tom C. Stone Commissioner Michael L. Gallagher Commissioner Arn M. Menconi This Resolution passed by ~ vote of the Board of County Commissioners of the County of Eagle, State of Colorado. G:UKS\resolutions\CordilleraW esternAccess.DOC File No. 92-16 -~~ 888165 page • ~f 3 "'ll 08! 18. 04 04 : 39P Teak .] Simonton Eagle, CO 3~0 R 0.00 D 0.00 MEMORANDUM EAGLE COUNTY ENGINEERING TO: Janice Scofield, Attorney's Office ~/!1~ ~ -, ,, - cQd~ FROM: Mike Gruber, Engineering ~~~ /~"~~~ ~ - ~ _ , DATE: July 19, 2004 RE: Cordillera Valley Club, Western Access, PDA-00016 Third Partial Collateral Release, Termination of Warranty Period and SIA A written request for final inspection and termination of the warranty period was received from John Cahill, Director of Construction for Cordillera. Inspection of the work completed indicates the improvements have successfully survived the warranty period. I recommend a release of the remaining collateral in the amount of $23,043.10, and the termination of the warranty period and the Subdivision Improvements Agreement. Maintenance of the road, Hillcrest Drive from the intersection of Red Canyon Estates Road north, is the responsibility of the Cordillera Valley Club Property Owner's Association. ### pc: Helen Migchelbrink, County Engineer Peter Sulmeisters, Project Manager John Cahill, Cordillera, Director of Construction ChronolFile EXHIBIT ei