HomeMy WebLinkAboutR95-150 final release of collateral for Summit Vista Phase IICOUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION NO. 95- 6 C�
FINAL RELEASE OF COLLA
AND
TER A TION OF THE WARRANTY PERIOD
FOR
SUbMT VISTA, PHASE II SUBDIVISION
WHEREAS, on or about August 22, 1984, pursuant to C.R.S. 30-
28 -137, the Board of County Commissioners of the County of Eagle,
State of Colorado ( "Board ") , entered into a Subdivision
Improvements Agreement ( "Agreement ") with Meldor Partnership
( "Subdivider "); and
WHEREAS, throughout the life of the Agreement the Subdivider
at all times provided collateral satisfactory to the Board to
guarantee the completion of the public improvements associated with
the Subdivision; and
WHEREAS, by Eagle County Resolution No. 93 - 148 the Board
commenced the- two warranty period for Summit Vista, Phase II, with
an expiration date of September 2, 1995 and held Irrevocable Letter
of Credit No. 65, issued by Alpine Bank, in the amount of $8,400.00
for the duration of the warranty period; and
WHEREAS, Subdivider has represented that the subdivision
improvements for Summit Vista, Phase II have satisfactorily
survived the warranty period; and
WHEREAS, BASED upon the written recommendations of the
Department of Engineering (see Exhibit A, attached hereto and
incorporated herein by this reference) the Board finds that the
warranty period has been successfully completed and that the full
release of the collateral is appropriate.
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Sara J. Fisher Eagle County Clerk & Recorder 0.00
C
Ccnanissioner moved adoption
of the follch4ipg Resolution:
t�
• 1�1' •' 1511111F • �I� : I :• • •
• a 1 • • I • • ' • • •'��•
THAT, the Board hereby authorizes the full and final release
of the above- referenced collateral in the amount of $8,400.00.
THAT, this resolution shall be recorded in the Records of the
Eagle County Clerk and Recorder, which shall be evidence that the
warranty period for Summit Vista, Phase II, has been successfully
completed and that the Subdivider's obligations under the Agreement
are fulfilled.
MOVED, READ AND ADOPTED by the Board of County Commissioners
of the County of Eagle, State of Colorado, this ., day of
December, 1995.
Is
• - d rman
VI 15 I� t
!ri •- ! Gatds C ommissio ner
*bette P ips, Canmissic5ner
Commissioner & seconded adoption of the
foregoing resolution. e ro aving been called, the vote was as
follows:
Commissioner James E. Johnson, Jr. Gr:N.f.
Commissioner George A. Gates
Commissioner Johnnette Phillips
579969 B -683 P -963 12/19/95 01:11P PG 2 OF 4
This Resolution passed by vote of the Board of
County Commissioners of the County of Eagle, State of Colorado.
mta \r \sumnit6.ter
64 -152
mot,
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EAGLE COUNTY ENGINEERING
TO: Nancy Lewis / County Attorney
FROM: Mike Gruber /Engineering
DATE: November 29, 1995
! D-1 f \ " F,
n
RE: Collateral Release, Summit Vista Subdivision Phase II
Engineering has performed inspection and review per request of Mr.
Bacheldor, Meldor Construction, Inc.. The work is determined to be
satisfactory under the terms and conditions of the Subdivision
Improvements Agreement. This project has successfully completed
the required two year warranty period beginning September 2, 1993.
We recommend the release of the collateral.
cc: George Roussos, County Engineer
Chrono /File
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