HomeMy WebLinkAboutR11-070 Arrowhead TerminationCommissioner P� moved adoption
of the following Resolution:
BOARD OF COUNTY COMMISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION NO. 2011-
TERMINATION OF THE SUBDIVISION IMPROVEMENTS AGREEMENT
AND
ONE YEAR EXTENDED WARRANTY PERIOD
AND
FINAL RELEASE OF COLLATERAL
FOR
ARROWHEAD VALLEY DEVELOPERS, LLC
ARROWHEAD RIVER RANCH - PDF -00074
WHEREAS, on or about October 21, 2002, the Board of County Commissioners of the
County of Eagle, State of Colorado ('Board ") entered into a Subdivision Improvements
Agreement with John and Diane Donovan ( "Subdivider ") for the approval of the Final Plat of
Arrowhead Ranch Planned United Development; and
WHEREAS, pursuant to the Agreement, the Subdivider provided collateral in the form
of Colorado Capital Bank Letter of Credit No. 96006630 in the amount of $25,415.30 to
guarantee the faithful completion of the public improvements; and
WHEREAS, the Engineering Department states the improvements are complete, have
survived the one -year extended warranty period and are acceptable per the terms and conditions
of the Subdivision Improvements Agreement; 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, 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 one year extended warranty period for Arrowhead River Ranch.
THAT, this document shall be recorded in the records of the Eagle County Clerk and
Recorder, which shall be evidence that the one year extended warranty period for Arrowhead
River Ranch has been successfully completed and that the Subdivider's obligations under the
Agreement are complete.
MOVED, READ AND ADOPTED by the Board of Count Commissioners of the
County of Eagle, State of Colorado, at its regular meeting held the day of July, 2011.
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
ATTEST: BOARD OF COUNTY COMMISSIONERS
4 „ `
Clerk to the Board of 9
County Commissioners c
Co issioner
Sara J. Fisher
Commissioner
Commissioner seconded adoption of the foregoing resolution. The roll
having been called, the vote was as follows:
Commissioner Stavney
Commissioner Runyon
Commissioner Fisher
This Resolution passed by �j(J vote of the Board of County Commissioners of
the County of Eagle, State of Colorado.
nrw \resolutions \arrowhead. release
MEMORANDUM
EAGLE COUNTY ENGINEERING
TO: Nancy Wright, Eagle County Attorney's Office
FROM: Mike Gruber, Engineering Department /��14�-
DATE: June 23, 2011
RE: PDF- 00074, Arrowhead River Ranch — Amended Subdivision Improvements Agreement
Release of Collateral and the Termination of the One Year Extended Warranty Period
and Subdivision Improvements Agreement as Amended
A request for inspection for those corrective items under the extended one year warranty required by
the Amended Agreement for Subdivision and Off -Site Improvements, Arrowhead Valley Developers,
LLC, has been submitted by Arrowhead Valley Developers to Eagle County Engineering Department
June 28, 2010. The corrected items were inspected by me and Jeff Townsend, a representative for the
developer, on June 22, 2011, and are agreed to be satisfactorily completed, having successfully
survived the one year warranty period.
I recommend termination of the Subdivision Improvements Agreement, termination of the warranty
period, and the release of the remaining collateral for the improvements as follows:
The improvements for the Arrowhead River Ranch Subdivision as collateralized and
as established by Consent No. 2011 -1, with Letter of Credit No. 96006630 for the
amount of $25,415.30. This amount represents the the collateral for the subdivision
improvements to be retained throughout the extended year warranty period.
These improvements entail the construction of utility infrastructure and a private roadway. County
maintenance is not required for the road.
cc: Eva Wilson, County Engineer
Kim Alackness, Controller, Arrowhead Valley Developers,
Email) Kim Alackness [ kalackness @hermesresortproperties.com]
EXHIBIT
