HomeMy WebLinkAboutR00-097 final release of collateral for Cordillera Filing 8( C
Commissioner moved adoption
of the follow g Resolution:
BOARD OF COUNTY COMMISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION NO. 2000 - q-7
FINAL RELEASE OF COLLATERAL
AND
TERMINATION OF THE WARRANTY PERIOD
FOR
CORDILLERA SUBDIVISION, FILING 8
WHEREAS, on June 22, 1993, Stag Gulch Partners
( "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 Subdivision, Filing 8;
WHEREAS, by Eagle County Consent No. 98 -07, the County
commenced the warranty period for Filing 8, said warranty period
to expire March 17, 2000; 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.
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 Subdivision, Filing 8.
THAT, this document shall be recorded in the Records of the
Eagle County Clerk and Recorder, which shall be evidence that the
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warranty period for Cordillera Subdivision, Filing 8 has been
successfully completed and that the Subdivider's obligations
under the Agreement are complete.
THAT, the Letter of Credit No. 407284 issued by Norwest Bank
be returned.
THAT, Eagle County does not assume responsibility for
maintenance or upkeep of the roads in Cordillera Subdivision
Filing 8.
MOVED, READ AND ADOPTED by the Board of County Commissioners
of the County of Eagle, Stat of Colorado, at its regular meeting
held the fQ day o 2000.
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
ATTEST:,,,. BOARD OF COUNTY COMMISSIONERS
Clerk to the(Boar
County Commissioners
Commissioner
Johnnette Phi lips
Commissioner
Commissioner seconded adoption of the
foregoing resolution. h'` e roll having been called, the vote was
as follows:
Commissioner Tom C. Stone O-W_
Commissioner Michael C. Gallagher
Commissioner Johnnette Phillips
This Resolution passed by 3 ' Q vote of the
Board of County Commissioners of the County of Eagle, State of
Colorado.
G:\Jackie\Forms\Final Collateral \Cordillera Filing 8
Tom C. Stone
Chairman n
MEMORANDUM
EAGLE COUNTY ENGINEERING
TO: Nancy Lewis / Attorney's Office
FROM: Mike Gruber / Engineering /" "tk &1�
DATE: June 2, 2000
RE: Cordillera Filing 8, Final Collateral Release,
Termination of SIA
Formal request to close out the SIA for this filing was submitted by
the engineer for the developer along with the required utility
witness drawings on May 25, 2000.
Inspection was performed on May 2, 2000 after the completion date of
the warranty period as determined by Consent No. 98 -07. The
improvements are complete, having survived the two year warranty and
are acceptable per the terms and conditions of the SIA.
These improvements entail the construction of utility infrastructure
and roadways. County maintenance is not required for these
roadways. Release of collateral and termination of the SIA is
recommended.
p �C��d�
EAGLE COUNTY ATTORNEY`
CC: Helen Migchelbrink, County Engineer
Chrono /File
