HomeMy WebLinkAboutR96-103 final release of collateral for Creamery Ranch
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Commissioner moved adoption
of the following esolution:
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BOARD OF COUNTY CO1~Il~iISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION NO. 96-~
AUTHORIZING THE FINAL RELEASE OF COLLATERAL
AND
TERMINATION OF THE WARRANTY PERIOD
FOR
CREAMERY RANCH
FORMERLY ItNOWN AS CREAMERY GULCH RANCH
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WHEREAS, on June 23, 1992, the County entered into a Subdivi-
sion Improvements Agreement ("SIA") recorded at Book 583 at Page
275 in the records of the Eagle County Clerk and Recorder, with
Frank Lynch (hereinafter "Subdivider"), as a condition of the
County's final plat approval for A Resubdivision of Lot 3, Creamery
Gulch Ranch; and
WHEREAS, on September 15, 1992, the County entered into a
Subdivision Improvements Agreement, (SIA) recorded in Book 589, at
Page 224, in the records of the Eagle County Clerk and Recorder,
with the Subdivider, as a condition of the County's final plat
approval for A Resubdivision of Tracts C and X, Creamery Gulch
Ranch; and
WHEREAS, by Second Amendment to the SIAs, dated April 19,
1994, said SIAs were each amended to indicate a re-subdivision of
the property known as Creamery Gulch Ranch and to reflect the
change in the name of the subdivision, from Creamery Gulch Ranch to
Creamery Ranch; and
597175 13-7~1 i'-1ti7 U7/3U/96 U2 : U41' 1'G 1 U~' 4 KEC llUC N~
Sara J. Wisher ~;a~le County Clerk & hecorder U.UO
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WHEREAS, as a result of this re-subdivision, and approval of
the Final Plat for Creamery Ranch, additional public improvements,
beyond those stated in the above-mentioned SIAs, were required; and
WHEREAS, by Second Amendment to the SIAs, dated April 19,
1994, said SIAs were each amended to incorporate these new public
improvements generated as a result of this re-subdivision, as well
as those unfinished improvements required under the above-mentioned
SIAs; and
WHEREAS, the Subdivider represented to the Board, and members
of the County staff corroborated, that the additional improvements
were satisfactory to serve the needs of the subdivision, all as
provided in the Second Amendment dated April 19, 1994; and
WHEREAS, by Eagle County Resolution No. 94-100 the Board found
that the Subdivider had completed all the improvements required
under the Agreement, and commenced the warranty period with and set
an expiration date of July 26, 1996; and 1
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WHEREAS, the Subdivider provided Letter of Credit Number ~~
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#914-8655-A in the amount of $71,614.37, as collateral for the two- ~,~
year warranty period; and ~
WHEREAS, both the Subdivider and the Engineering Department
state that the work is 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.
WHEREAS, the Board is not accepting any maintenance responsi-
bility for any other improvements required under the Agreement and
installed by the Subdivider as those improvements are private, see
Exhibit "A".
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 warranty period.
THAT, the Board will not be accepting any of the improvements
installed pursuant to the Agreement.
597175 13-7U1 Y-187 U7/3u/96 U2:u4Y YG L Gr~ 4
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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.
THAT, this resolution is necessary for the public health,
safety and welfare of the citizens of Eagle County, Colorado.
MOVED, READ AND ADOPTED by the Board of County Commissioners
of the Count ~~y,oLLf,,Eagle, State of Colorado, at its regular meeting
held the ___C~~- day of July, 1996.
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
ATTEST : .+~'~'~ ~~`~`~~, OARD OF COUNTY COMMISSIONERS
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By:
Clerk to the B rd of George Gates, Chairman ~~~
County Commissioners t
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ohnnette Phillips, Commi sinner
Commissioner ~ seconded adoption of the
foregoing resolution. The roll having been called, the vote was as
follows:
Commissioner Gates
Commissioner Phillips 7
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Commissioner Johnson /L-!`P_
This Resolution passed by c3 "6 vote of the Board of
County Commissioners of the County of Eagle, State of Colorado.
mta\r\creamwar.ter
#87-112
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MEMORANDUM
EAGLE COUNTY ENGINEERING
TO: Maureen Amundson / Attorney's Office
FROM: Mike Gruber / Engineering f~/j~/~
DATE: July 3, 1996 /`
RE: Final Release, Collateral; Termination of SIA
Creamery Ranch formerly known as Creamery Gulch Ranch
Items needing correction or installation for completion of the two
year warranty period is complete and acceptable. Specifically,
three traffic signs needed to be installed and have been.
Installation was inspected by our office and is in conformance with
applicable standards. Release of collateral (Letter Of Credit No.
914-8655-A representing loo retainage for the warranty period) and
termination of the SIA is recommended. No additional warranty
periods are required. --9
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These roads are private per Final Plat note No. 11, recorded April ~
19, 1994, Book 637 Page 978, Eagle County. No maintenance is E..a
required of or will be provided by the County.
597175 13-7U1 Y-187 U7/3U/36 02:04P YG 4 UN' 4
cc: George Roussos, County Engineer
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