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HomeMy WebLinkAboutR96-103 final release of collateral for Creamery Ranch ., x ;/ ~ li -,~~~M~ Commissioner moved adoption of the following esolution: L~ 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 1-, C1~ 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 ., . , 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 ~~ WHEREAS, the Subdivider provided Letter of Credit Number ~~ h, #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 •< e 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 p~ w `~~9"r " .~ 4 By: Clerk to the B rd of George Gates, Chairman ~~~ County Commissioners t M^~ Ca't '' CT3 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 T 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 597175 B-7U1 P-1137 U7/3UJ36 UZ : G4Y i'G 3 Ur' 4 i 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 ~~ 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 Chrono/File EX BIT