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HomeMy WebLinkAboutR96-120 final release of collateral Sopris View Apartments Phase III4 ^ ~~~ ,~//) 3~ ~~ C~ Coamnissioner moved adoption of the following R olution: BOARD OF COUNTY COMMISSIONERS COUNTY OF EAGLE, STATE OF COLORADO RESOLUTION NO. 96-~_ AUTHORIZING THE FINAL RELEASE OF COLLATERAL AND TERMINATION OF THE WARRANTY PERIOD FOR SOPRIS VIEW APARTMENTS -- PHASE III /-o - WHEREAS, on September 28, 1993, the County entered into a Subdivision Improvements Agreement ("SIA"), recorded at Book 620 at Page 652 in the records of the Eagle County Clerk and Recorder, (hereinafter "Agreement"), with Basalt Trade Associates (hereinaf- ter "Subdivider"), as a condition of the County's final plat approval for Summit Vista Lot 1, Resubdivided as Sopris View Apartments; and WHEREAS, in order to guarantee the faithful completion of certain public improvements required under the Agreement, the Board accepted collateral sufficient in the judgment of the County Attorney to guarantee the completion of public improvements associated with Parcel III; and WHEREAS, by Eagle County Resolution No. 94-136 the Board commenced the two year warranty period for Parcel III and set the expiration date to September 19, 1996; the Board further retained $1940.00 or ten percent of the original cost estimate for Phase III, which amount was held for the duration of the warranty period; and WHEREAS, Subdivider has represented that the subdivision improvements for Parcel III have satisfactorily survived the warranty period; and 601537 B-705 P-553 09/17/1996 03:44P PG 1 OF 4 REC DOC Sara J. Fisher Eagle County Clerk & Recorder 0.00 tla C1 C NOT WHEREAS, the Engineering Department states that the work is complete and acceptable and recommends full release of the collateral and the termination of the warranty period, see Exhibit "A", attached hereto and incorporated herein by this reference. 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 in the amount of $1940.00 and the termination of the warranty period for Phase III of Sopris View Apartments. THAT, this document shall be recorded in the Records of the Eagle County Clerk and Recorder, which shall be evidence that the warranty period for Parcel III of Sopris View Apartment has been successfully completed and that the Subdivider's obligations under the Agreement are complete, in regards to Parcel III only. MOVED, READ AND ADOPTED by the Board of County Commissioners of the County of Eagle, State of Colorado, at its regular meeting held the ~a~_ day of September, 1996. COUNTY OF EAGLE, STATE OF ,~4-G~'~ ~L,y, COLORADO , By and Through I t s ATTEST: ®'~ t a~ BOARD OF COUNTY COMMISSIONERS 4~ ~- By: Clerk to th Board of County Commissioners George A. Gates, Chairman ohnnette Phillips, Comm~ner ~~ s E . Jol~ issioner CT) G r- 601537 B-705 P-553 03/17/1990 03:44P PG 2 C?F 4 Commissioner p~~ O1~ ~O seconded adoption of the foregoing resolution. The roll having been called, the vote was as follows: Commissioner Gates Commissioner Phillips C.~ Commissioner Johnson .~.~,C~. This Resolution passed by _~ - d vote of the Board of County Commissioners of the County of Eagle, State of Colorado. mta\r\soprisIII.ter #84-152 ri c c 601537 B-705 P-553 Og/17/1996 03:44P PG 3 OF 4 From: John Althoff To: ATT_BOCC.NANCYL Date: 7/31/96 8:24am Subject: SOPRIS VIEW APARTMENTS "" Proprietary "` PER YOUR MEMO OF JULY 22, 1996 MIKE GRUBER OF OUR OFFICE HAS INSPECTED THE SOPRIS VIEW APARTMENTS PHASE 3 AND EVERYTHING IS O.K. WOULD SUGGEST THAT THE SIA FOR PHASE 3 BE ALLOWED TO EXPIRE. THE COUNTY WILL NOT BE TAKING OVER MAINTENANCE OF THIS PARKING LOT. !"1 C2 G 601537 B-705 P-553 09/17/1996 03:44P PG 4 IBIT OF 4