HomeMy WebLinkAboutR04-098 Cordillera Filing 27, Phase 2 Final Release • V
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Commissioner � �, moved adoption
of the following R-solution:
BOARD OF COUNTY COMMISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION NO. 2004-
FINAL RELEASE OF COLLATERAF_
AND
TERMINATION OF THE WARRANTY PERIOD
FOR
CORDILLERA FILING 37, PHASE 2,
A RESUBDIVISION OF LOTS 1 & 2 AND TRACTS M -1 & M -2,
CORDILLERA SUBDIVISION FILING NO. 37
WHEREAS, on February 13, 2001, Centex Homes, a Nevada General Partnership and
Squaw Creek Realty Corporation, a Colorado corporation ( "Subdivider ") and the Board of
County Commissioners of Eagle County, Colorado (hereinafter "Board ") entered into a
Subdivisions Improvements Agreement (hereinafter "Agreement ") concerning the development
of Cordillera Filing 37, Phase 2, a Resubdivision of Lots 1 & 2 and Tracts M -1 & M -2,
Cordillera Filing No. 37; and
WHEREAS, Squaw Creek Realty Corporation assigned its right, title and interest in the
Subdivision Improvements Agreement to Centex Homes on February 15, 2001 by Assignment
and Assumption of Subdivision Improvements Agreement recorded at Reception No. 751977;
and
WHEREAS, by Eagle County Consent No. 2002 -13, the County commenced the
warranty period for Cordillera Filing 37, Phase 2, a Resubdivision of Lots 1 & 2 and Tracts M -1
& M -2, Cordillera Filing No. 37, said warranty period to expire August 30, 2004; and
WHEREAS, Subdivider provided Letter of Credit No. SLT327882 in the amount of
$32,236.71 which represented the ten percent (10 %) of the estimated cost of the subdivision
improvements to be held throughout the 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 oral and written 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
has ended.
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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 Cordillera Filing 37, Phase 2, A
Resubdivision of Lots 1 & 2 and Tracts M -1 & M -2, Cordillera Filing No. 37.
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 Filing 37, Phase 2, A
Resubdivision of Lots 1 & 2 and Tracts M -1 and M -2, Cordillera Filing No. 37 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 Cordillera Filing 37, Phase 2, A Resubdivision of Lots 1 & 2 and Tracts M -1 and M -2,
Cordillera Subdivision Filing No. 37.
THAT, the Letter of Credit No. SLT327882 issued by Bank One, N.A. be returned.
MOVED, READ AND ADOPTED by the Board of County Commissioners of the
County of Eagle, State of Colorado, at its regular meeting held the 7- day of August, 2004.
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
ATTEST: o `GLFC , G,*ARD OF COUNTY COMMISSIONERS
` ' i -r ,. a a s:, • KIIKe
Teak J. Simonton, lerk to the Board' `'1" <'` Tom C. S e, Chairman
of County Commissioners 1
By: % 1
Michae Gallagher
C•. Toner
By:
enconi
Commissioner
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Commissioner seconded adoption of the foregoing resolution. The roll
having been called, the vote was as follows:
Commissioner Tom C. Stone
Commissioner Michael C. 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: JKS\resolutions \Cordillera Filing 37M1M2.DOC
File No. 87 -84
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MEMORANDUM
EAGLE COUNTY ENGINEERING
TO: Janice Scofield, Attorney's Office
FROM: Mike Gruber, Engineering Lt'/
DATE: August 16, 2004
RE: Cordillera, Filing 37, Phase 2, Release of Collateral and Termination of the Warranty
Period and Subdivision Improvements Agreement, File No. PDF -00058
Mr. Jason Longo, Controller, Centex Destination Properties, has made a request for inspection of
work for Cordillera, Filing 37, Phase 2 under the warranty period as established by Consent
Resolution No. 2002 -13. Water and sewer witness drawings were received on August 13, 2004.
Subdivision improvements as -built drawings were also received on August 13, 2004.
Inspection was conducted by me on August 6, 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
$32,236.71. 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.
These improvements entail the construction of utility infrastructure and private roadways. County
maintenance is not required for these roads.
# # #
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Pc: Helen Migchelbrink, County Engineer
Peter Sulmeisters, Project Manager
Jason Longo, Controller, Centex Destination Properties
Chrono /File
EXHIBIT
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