HomeMy WebLinkAboutR12-053 Final Release Eagle Vail Road Sidewalk Project Commissioner t S moved adoption
of the following Resolution:
BOARD OF COUNTY COMMISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION NO. 2012- LID
FINAL RELEASE OF COLLATERAL
AND
TERMINATION OF THE WARRANTY PERIOD
OF THE
ENCROACHMENT EASEMENT AND
PUBLIC IMPROVEMENTS AGREEMENT
FOR
EAGLE VAIL PROPERTY OWNERS ASSOCIATION
EAGLE VAIL ROAD SIDEWALK PROJECT
PUBLIC WAY PERMIT ROW 10 -09 -3900
WHEREAS, on or about October 20, 2009, the Board of County Commissioners of the
County of Eagle, State of Colorado ("Board") entered into an Encroachment Easement and
Public Improvements Agreement with Eagle Vail Property Owners Association ( "Association ")
to construct a pedestrian sidewalk (the "Public Improvements "); and
WHEREAS, pursuant to the Agreement, the Association provided collateral in the form
of a Corporate Bond in an amount sufficient to make good the Association's obligations under
the Agreement; and
WHEREAS, the Engineering Department states all of the improvements under this
Agreement have been completed, have survived the two -year warranty period and are acceptable
per the terms and conditions of the Public Improvements Agreement; and
WHEREAS, both the Developer 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 Corporate Bond, and the termination
of the Public 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 Association's obligations under the Agreement
have been satisfied.
THAT, the Board hereby authorizes the full and final release of the Corporate Bond and
the termination of the Public Improvements Agreement for Eagle Vail Property Owners
Association Eagle Vail Road Sidewalk Project, Public Way Permit ROW 10 -09 -3900.
THAT, this document shall be recorded in the records of the Eagle County Clerk and
Recorder, which shall be evidence that improvements under this Public Improvements
Agreement have been successfully completed and that the Association'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 (S day of May, 2012.
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
ATTEST: o viGLe C BOARD OF COUNTY COMMISSIONERS
3 41 1 4
w
*4,1. *
4616 ' ' r
SIP
j ,R: ' By:
Clerk to the B e'. rd of Peter F. Runyon
County Commissioners Chairman Al
I" VAL
Jo Stavney
issio s er
*i i % '4,
Sara J. Fis f
Commissioner
Commissioner u—"► seconded adoption of the foregoing resolution. The roll
having been called, the vote was as follows:
Commissioner Runyon /1,4? Sk'`'` r
Commissioner Stavney 44'1.
Commissioner Fisher ► "
This Resolution passed by 7/ b vote of the Board of County Commissioners of
the County of Eagle, State of Colorado.
nrw \resolutions \eaglevail. final
MEMORANDUM
EAGLE COUNTY ENGINEERING
TO: Nancy Wright, Attorney's Office
FROM: Mike Gruber, Engineering ► /
if 007
DATE: May 2, 2012
RE: Public Improvements Agreement, Eagle Vail Road Sidewalk Project, Eagle Vail
Property Owners Association, Release of Collateral, Termination of the Warranty
Period
Work has been complete for the required two year warranty period as required by the
Encroachment Easement Agreement and Public Improvements Agreement, Eagle County
Reception No. 200922779. The Public Improvements obligations under this agreement also
serve to satisfy the collateral requirements under Public Way Permit ROW -10 -09 -3900.
Inspection by Eagle County Engineering Department, Public Works Inspector, on April 11,
2012, indicates the improvements are complete, have survived the two -year warranty period and
are acceptable per the terms and conditions of the Public Improvements Agreement and the
Public Way Permit.
I recommend termination of the warranty period required by the Public Improvements
Agreement, and the release of the collateral obligations as specified under the Agreement, the
Public Way Permit and the Corporate Bond presented by the Eagle Vail Property Owners
Association.
This recommendation serves only to satisfy the warranty and collateral requirements of all
instruments and does not modify the Agreement in any manner.
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EXHIBIT
