HomeMy WebLinkAboutR11-026 Kummer Dev Corp Letter of Credit Commissioner A " '' moved adoption
of the following Resolution:
BOARD OF COUNTY COMMISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION NO. 2011- OZ (D
RESOLUTION CONFERRING POWER OF ATTORNEY UPON BRYAN R. TREU, COUNTY
ATTORNEY, ROBERT L. MORRIS, DEPUTY COUNTY ATTORNEY, CHRISTINA C. HOOPER,
ASSISTANT COUNTY ATTORNEY AND DIANE H. MAURIELLO, ASSISTANT COUNTY ATTORNEY,
TO ACT AS ATTORNEY IN FACT FOR !HE COUNTY OF EAGLE, STATE OF COLORADO, WITH
RESPECT TO US BANK LETTER OF CREDIT No. SLCPPDX03678 IN THE AMOUNT OF
$620,566.92 FOR THE ACCOUNT OF KUMMER DEVELOPMENT CORPORATION - FROST CREEK
PUD
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 and Off -site
Improvements Agreement dated April 4, 2006 ( "Agreement ") with Adam's Rib ( "Subdivider ")
as a condition of final plat approval for Frost Creek; and
WHEREAS, the Subdivider provided collateral in the form of US Bank Letter of Credit
No. SLCPPDX30678 in the amount of $620,566.92; and
WHEREAS, said Letter of Credit expires April 5, 2011; and Subdivider has not provided
extended collateral as requested; and
WHEREAS, the Board finds, determines and declares that there has been a default under
the Agreement and a sum certain in the amount of $620,566.92 is required to remedy the default.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF THE COUNTY OF EAGLE, STATE OF COLORADO:
THAT, Bryan R. Treu, County Attorney; Robert L. Morris, Deputy County Attorney;
Christina C. Hooper, Assistant County Attorney, and Diane H. Mauriello, Assistant County
Attorney are authorized to execute any and all documents necessary to draw upon said Letter of
Credit.
THAT, Bryan R. Treu, County Attorney; Robert L. Morris, Deputy County Attorney;
Christina C. Hooper, Assistant County Attorney, and Diane H. Mauriello, Assistant County
Attorney are hereby granted power of attorney to act as attorney in fact for the County of Eagle,
State of Colorado, and its Board of County Commissioners, with regard to any and all actions
that may be necessary to draw upon said Letter of Credit.
THAT, the Chairman of the Board is authorized to execute a Power of Attorney for the
purposes contemplated herein in the form attached to this Resolution as Exhibit "A" and made a
part hereof by this reference.
MOVED, READ AND ADOPTED by the Board of County Commissioners of the
County of Eagle, State of Colorado, at its regular meeting held the IA day of March, 2011.
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
ATTEST: BOARD OF COUNTY COMMISSIONERS
f.P,64
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4imik* dr* 0 vir
A' • dow +1: .. • By: A
Clerk to the B tr; . cl of Stavney
County Commissioners ¶bin •
-
Peter F. Runyon
Commissioner
Sara J. Fis er
Commissioner
Commissioner T SIA—t,C44 seconded adoption of the foregoing resolution. The roll
having been called, the vote was as follows:
Commissioner Stavney
Commissioner Runyon
Commissioner Fisher "
5 /0
This Resolution passed by vote of the Board of County Commissioners of
the County of Eagle, State of Colorado.
EXHIBIT "A"
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS: That the County of Eagle, State of
Colorado, a body politic and corporate, reposing special trust and confidence in Bryan R. Treu,
County Attorney; Robert L. Morris, Deputy County Attorney; Christina C. Hooper, Assistant
County Attorney; and Diane H. Mauriello, Assistant County Attorney, and each of them, the true
and lawful attorney for the County of Eagle, State of Colorado, has made, constituted and
appointed, and by these presents does make, constitute and appoint the said Bryan R. Treu,
Robert L. Morris, Christina C. Hooper, and Diane H. Mauriello, and each of them, the true and
lawful attorney for the County of Eagle; and in its name, place and stead, for its sole use and
benefit, to draw upon US Bank Letter of Credit No. SLCPPDX03678 in the amount of
620,566.92 for the account of Adam's Rib - Frost Creek and to execute, make, endorse, and
accept any documents necessary to accomplish the foregoing purpose.
Hereby giving and granting unto Bryan R. Treu and/or Robert L. Morris and/or Christina
C. Hooper and/or Diane H. Mauriello said attorneys, full power and authority to do and perform
all and every act and thing whatsoever requisite and necessary to be done in and about the
premises, as fully to all intents and purposes as it might or could do if personally present, with
full power of substitution and revocation, hereby ratifying and confirming all that its said
attorney or his substitutes shall lawfully do or cause to be done by virtue hereof.
IN WITNESS WHEREOF, the County of Eagle has caused its name to be signed by its
Chairman of the Board of County Commissioners, and its seal to be affixed d attested by its
Clerk, all being done in the Town of Eagle, and State of Colorado, on this 1 day of March,
2011.
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
ATTEST: ok�G BOARD OF COUNT . COMMISSIONERS
1. A
B By: �� • ks
er of the Boa of Jon Stay -
County Commissioners Chairma
1 %Loy t
STATE OF COLORADO )
) ss:
County of Eagle )
I, �, -c ° ( ,-_ - , Notary Public in and for said Eagle County, in the State aforesaid,
do hereb certify tai , t Jon Stavney, Chairman of the Board of County Commissioners of the
County • Eagle, State of Colorado, and Teak J. Simonton, County Clerk and Clerk to the Board
of County Commissioners, County of Eagle, State of Colorado, personally known to me to be the
persons whose names are subscribed to the within Power of Attorney, appeared before me this
day in person and acknowledged that they signed, sealed and delivered the said instrument of
writing as their free and voluntary act and deed, for the uses and purposes therein set forth.
Given under my hand and notary seal, this v g ay of A L-4--c-e L. , 2011.
My commission expires / (4- a /A .
_) ¢ r / Lt ' / ii
NA R. WRIGHT Notary Pubh
NOTARY PUBLIC
STATE OF COLORADO
MY COMMISSION EXPIRES 114/2015
