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HomeMy WebLinkAboutR96-085 fina release of collateral Riverwalk at Edwards Phase 2 Lots 1 and 2~~~,~ moved adoption Commissioner ~ of the following Resolu ion: 4 BOARD OF COUNTY CO1~2ISSIONERS COUNTY OF EAGLE, STATE OF COLORADO :J ~ RESOLUTION NO. 96- a :~o AUTHORIZING THE FINAL RELEASE OF COLLATERAL x o AND TERMINATION OF THE WARRANTY PERIOD FOR RIVERWALK AT EDWARDS - PHASE 2 LOTS 1 AND 2 ~ ~ a~ '~ WHEREAS, on or about January 5, 1994, pursuant to Section 30- ° C.R.S., the Board of County Commissioners of the County o 28-137 U x , Eagle, State of Colorado ("Board") entered into a Subdivision ~ ~ Improvements Agreement ("Agreement") with 4020 Land Investors „~ ("Subdivider") as a condition of final plat approval of Riverwalk ~, ~; ,~ ~ at Edwards, Phase 2; and .. d" ,-~ J in order to guarantee the faithful completion o WHEREAS ~° ~: ~ , certain public improvements required under the Agreement, the Board ~~ o accepted as collateral a plat note which stated that no lot or lots ~ ~ within the subdivision shall be conveyed nor shall any building ~ permit be issued until the improvements are in place; and ~~ ,~, ~i' WHEREAS, by Eagle County Resolution No. 94-89, the warranty ~ period was commenced, and Subdivider provided the County with .~ ~ Letter of Credit No. 201 drawn on the First Bank of Eagle County, ~ ~ P.O. Box 1299, Edwards, CO 81632 in the amount of Edwards ~ . -~ , $11,165.00 as security for the two-year warranty period which expired on June 22, 1996; and ~ ~~ -~ ~ WHEREAS, the Subdivider represents that the work required ~ under the Agreement is complete and acceptable and the Engineering ~n :n Department recommends full release of the collateral and t e termination of the warranty period, see Exhibit "A", attached hereto and incorporated herein by this reference. 'd'' WHEREAS, the Board is not accepting any of the improvements of the maintenance responsibility associated with the nor any the improvements required under the Agreement and installed b ately s these public improvements will be p ,v O r~ ,~ ,:~ ,~ ti ,~ :~ ,~ ,~ i ,~ ,~ f~ i ,~ ,~ v' ,~ ~n Subdivider, a maintained. BASED UPON the oral and written roard f nds that t e warranty County Department of Engineering, the B period has been successfully completed arm nationlof rtheawarrantye collateral is appropriate, as is the to period. NOW, THEREFORE, BE IT RESOLVEDSTATE OFE COLORADO OF COUNTY COMMISSIONERS OF THE COUN'T'Y OF EAGLE, COUNTY OF EAGLE, STATE OF COLORADO, By and Through Its BOARD OF COUNTY COMMISSIONERS THAT, the Board hereby authorizes the full anderiodl release of collateral and the termination of the warranty p THAT, the Board will not be accepting any of the improvements installed pursuant to the Agreement. THAT, this document shall be recor hall be ev dence that the Eagle County Clerk and Recorder, which s Agreement has been terminated. the Board of County Commissioners MOVED, READ AND ADOPTED by /{J~ day o ~~~ of the County of Eagle, State of Colorado, this 1996. C*! By : r!+ George Gates, Chairman ,..~ ATTEST : s . _ _ Clerk to the Board o County Commissioners 2 Johnnette Phillips, Co issioner 4 Commissioner ~ /.~f?l1 ~1%~ seconded adoption of the foregoing resolution. The roll having been called, the vote was as follows: Commissioner George A. Gates ~~i~~ ~ Commissioner Johnnette Phillips Commissioner James E. Johnson, Jr. /~i.r®~ assed by ; ~ A~ 2/~li~~/ ~ - vote of the Board of This Resolution p of Eagle, State of Colorado. County Commissioners of the County mta\r\riverwlk.ter 93-114 5y4y~4 t3-6yt5 Y-y93 o7/os/ss U4:14Y ~U ~ ~r~ 4 O -3- MEMORANDUM EAGLE COUNTY ENGINEERING TO: Maureen Amundson, Attorney's Office FROM: John Althoff, Engineering DATE: June 5, 1996 RE: Riverwalk, Phase II, Lots 1 and 2 Went up to Riverwalk on Tuesday, June 4, 1996 to review the site. Appears that all of the work for Phase II, Lots 1 and 2 has held up fine during the two yearheld antThpe roads din 1 his gphaser w 11 lbe all of the collateral privately maintained. xc: George Roussos Chrono/file 5y49~i4 13-6y8 ~'-y93 07/U;i/yb u4:14Y 1'G 4 Cr~ 4 EXHIBIT