HomeMy WebLinkAboutR97-069 Final Release of Collateral McGrady AcresCommissioner moved adoption
of the following esolution:
BOARD OF COUNTY COMMISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION NO. 97-
FINAL RELEASE OF COLLATERAL
AND
TERMINATION OF THE WARRANTY PERIOD
FOR
MCGRADY ACRES /NOTTINGHAM RANCH
COUNTY OF EAGLE, STATE OF COLORADO
WHEREAS, on or about July 23, 1991, pursuant to Section 30 -28-
137, C.R.S., the Board of County Commissioners of the County of
Eagle, State of Colorado ( "Board ") entered into a Subdivision
Improvements Agreement ( "Agreement ") with Nottingham Ranch Company,
a Limited Partnership and Susan Nottingham ( "Subdivider ") as a
condition of final plat approval of McCrady Acres; and
WHEREAS, by Eagle County Resolution No. 95 -57, the Board
terminated the warranty period for the Completed Improvements and
commenced the warranty period for the Bridge Repairs; and
WHEREAS, the Subdivider provided collateral in the form of
Letter of Credit No. 188 issued by First Bank of Eagle County in
the amount of $6,900.00 to guarantee the Bridge Repairs for the
duration of the warranty period; and
WHEREAS, both the Owner and the Engineering Department state
that the Bridge Repairs are complete and acceptable and the
Engineering Department recommends full release of the collateral
and the termination of the warranty period, 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 Ownez's obligations under the Agreement have
been satisfied.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF THE COUNTY OF EAGLE, STATE OF COLORADO:
111111111111111111111 IN IIIIIIII 11111 III 11111 1111 IN
625623 06/17/1997 03:50P 8729 P662
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l
THAT, the Board hereby authorizes the full and final release
of collateral and the termination of the warranty period for
McCrady Acres.
THAT, this document shall be recorded in the Records of the
Eagle County Clerk and Recorder, which shall be evidence that the
Agreement has been terminated.
MOVED, READ AND ADOPTED by the Board of County Commissioners
of the County of Eagle, State of Colorado, at its regular meeting
held the �Ic� -J day of June, 1997.
Clerk to the Soard of
County Commissioners
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
BOARD OF COUNTY COMMISSIONERS
By • 4i/L
ohnnette Phillips,
Chairman
r
s E. John so Jr.;
issioner
%WM if
George A. Gates, Commissioner
Commissioner PL seconded adoption of the
foregoing resolution. The roll oll having been called, the vote was as
follows:
Commissioner Johnnette Phillips
Commissioner James E. Johnson, Jr
Commissioner George A. Gates
I��III "III'�III"II' II" III'II'I'I"I ��� "II' II'� I"I
#91 -39 626623 06/17/1997 03:30P 8729 P662
mta \r \mcgrdy.ter 2 of 4 R 0.00 D 0.00 Sara J Fisher, Eagle, CO
This Resolution passed by a -Q vote of the Board
of County Commissioners of the County of Eagle, State of Colorado.
#91 -39
mta \r \mcgrdy.ter
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82862 Eagla, CO
3 of 4 R 0.00 D 0.00 Saga J Flahe�,
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3
EAGLE COUNTY ENGINEERING
TO: Maureen Amundson, Attorney's OfficeII iyfiiY 7 :? �cr
tyJ/
FROM: John Althoff, Engineering/ .j e! E COJMY A1?ORMF
DATE: May 20, 1997 `-'V
RE: McGrady Acres
Went up to review the McGrady Acres bridge today and everything looks good at the end of the
warranty period. Would suggest closing out the SIA for this project and releasing the $6,700 held
as collateral.
xc: George Roussos
Chrono /file
1 111111 1111111111111111111 1111111111111111 11111 1111 IN
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626623 0/17/1997 03:60P 8729 P662
of 4 R- 0.00 D 0.00 Sara J Fisher, Eagle, Co
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