HomeMy WebLinkAboutR96-120 final release of collateral Sopris View Apartments Phase III4 ^
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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
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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
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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
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By:
Clerk to th Board of
County Commissioners
George A. Gates, Chairman
ohnnette Phillips, Comm~ner
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issioner
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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.
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#84-152
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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.
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601537
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