HomeMy WebLinkAboutR96-133 termination of warranty period for Bentgrass at CordilleraCommissioner moved adoption
of the following esolution:
BOARD OF COUNTY COMMISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLIITION NO. 96--~~-
TERMINATION OF T8E WARRANTY PERIOD
BENTGRASS AT CORDILLERA
A RESUBDIVISION OF TRACT C AND TRACT C-1
WHEREAS, pursuant to C.R.S. 30-28-137, the Board of County
Commissioners of the County of Eagle, State of Colorado ("Board")
entered into a Subdivision Improvements Agreement dated September
7, 1993 ("Agreement") with Stag Gulch Partners, a Colorado general
partnership ("Subdivider"), as a condition of final plat approval
for Bentgrass at Cordillera, a Resubdivision of Tract C and C-1;
and
_ WHEREAS, the Subdivider provided collateral in the form of a
Letter of Credit No. 59130359 in the amount of $148,268.00 to
guarantee the faithful completion of the public improvements of the
project; and
WHEREAS, by Resolution No. 93-119 the Board released Letter of
Credit No. 59130359 and the Subdivider was allowed to substitute
cash in the amount of $148,268.00; and
WHEREAS, by Eagle County Resolution No. 94-150 the Board
granted a second release of collateral and commenced the two year
warranty period for Bentgrass at Cordillera, a Resubdivision of
Tract C and C-1, and set the expiration date to October 11, 1996;
the Board further retained $14,826.80, or ten percent of the
original cost estimate, which amount was held for the duration of
the warranty period; and
WHEREAS, Subdivider has represented that the subdivision
improvements for Bentgrass at Cordillera, a Resubdivision of Tract
C and C-1 have satisfactorily survived the warranty period; and
;`fi0527fi B-709 P-29fi 10/23/1996 02:OOP PG 1 OF 4 REC DOG
Sara J. Fisher Eagle County Clerk &. Recorder 0.00
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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 $14,826.80 and the termination of
the warranty period for Bentgrass at Cordillera, a Resubdivision of
Tract C and C-1.
THAT, the Eagle County Treasurer is hereby requested and
directed to issue a warrant in the amount of $14,826.80 to the
Subdivider.
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 Bentgrass at Cordillera, a Resubdivision of
Tract C and C-1 has been successfully completed and that the
Subdivider's obligations under the Agreement are complete.
MOVED, READ AND ADOPTED by the Board of County Commissioners
of the County of Eagle, State of Colorado, at its regular meeting
held the ~,n„~ day of October, 1996.
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ATTEST: ~~~ ~~'~~~
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1 ~~~o~ ~
Clerk to the~Board of
County Commissioners
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
BOARD OF COUNTY COMMISSIONERS
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By:
Georg A. Gates, Chairman
605276 B-709 P-'L 96 10/23/1996 02:OOP PG 2 OF 4
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ohnnette Phillips, Commi Toner
Commissioner ~ w.[n~J seconded adoption of the
foregoing resolution. The roll having been called, the vote was as
follows:
Commissioner Gates
Commissioner Phillips _
Commissioner Johnson ~,~,~
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This Resolution passed by ~~ '- (~ vote of the Board of
County Commissioners of the County of Eagle, State of Colorado.
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#87-84
605276 B-709 P-296 10/23/1996 02:OOP PG 3
OF 4
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MEMORANDUM
EAGLE COUNTY ENGINEERING
TO: Maureen Amundson, Attorney's Office
FROM: John Althoff, Engineering +.
DATE: September 25, 1996
RE: Bentgrass at Cordillera
Subdivision Improvements Agreement
_____________________________________________
The 2 year warranty period for this project is up. I was up to the
site on September 24, 1996, and all of the public improvements are
in acceptable condition. Would suggest that the Subdivision
Improvements Agreement be closed out and the collateral released.
xc: George Roussos
Chrono /file
605276 B-709 P-296 10/23/1996 02:OOP PG 4 OF 4
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EXHIBIT