No preview available
HomeMy WebLinkAboutR10-012 Final Release of Collateral Two Rivers Village IICommissioner moved adoption of the following Resolution: BOARD OF COUNTY COMMISSIONERS COUNTY OF EAGLE, STATE OF COLORADO RESOLUTION N0.2010-~~ FINAL RELEASE OF COLLATERAL AND TERMINATION OF THE WARRANTY PERIOD FOR DOTSERO REALTY PARTNERS, LLLP FOR TWO RIVERS VILLAGE PHASE III FILE NO. PDF-00063 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 ("Agreement") with Dotsero Realty Partners, LLLP ("Subdivider") as a condition of approval of the Final Plat of Two Rivers Village Phase III; and WHEREAS, pursuant to the Agreement, the Subdivider provided collateral in the form of Alpine Bank Letter of Credit No. 0250658434 in the amount of $140,297.37 to guarantee the faithful completion of the public improvements; and WHEREAS, the Engineering Department states the improvements are complete, have survived the two-year warranty period and are acceptable per the terms and conditions of the Subdivision Improvements Agreement; and WHEREAS, both the Subdivider and the Engineering Dep~~rtment state that the work required under the Agreement is complete and acceptable and the Engineering Department recommends full release of the collateral, as secured by the Letter of Credit, and the termination of the Subdivision Improvements Agreement, see Exhibit "A", attached hereto and incorporated herein by this reference. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF THE COUNTY OF EAGLE, STATE OF' COLORADO: THAT, based upon the oral and written recommendations of the County Engineer and County Attorney, THE BOARD FINDS that the Subdivider's obligations under the Agreement have been satisfied. THAT, the Board hereby authorizes the full and final release of the Letter of Credit and the termination of the Subdivision Improvements Agreement for Two Rivers Village Phase III. 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 Two Rivers Village Phase III 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 February, 2010. COUNTY OF EAGLE, STATE OF COLORADO, By and Through Its ATTEST: BOARD OF COUNTY COMMISSIONERS ~.;~-~ . ~ ~. n s ~ i _' 1. .c A~~ -"C /1 ~ Clerk to the Board of Sara J. Fig County Commissioners ~~~~~ ~'\ Chairman on Stavney om ' - 'oner7• f ,~ ~~. Peter F. ~ unyon ~'' Commissioner Commissioner seconded adoption of the foregoing resolution. The roll having been called, the vote was as follows: Commissioner Fisher Commissioner Stavney Commissioner Runyon This Resolution passed by the County of Eagle, State of Colorado. vote of the Board o~ County Commissioners of nrw~~esol utions\twori versvil IagephaseIII