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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 NO' C''9 ~,~ c'1 v C`.. 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. °~s~~ ATTEST: ~~~ ~~'~~~ ~ ~~ 1 ~~~o~ ~ Clerk to the~Board of County Commissioners COUNTY OF EAGLE, STATE OF COLORADO, By and Through Its BOARD OF COUNTY COMMISSIONERS F By: Georg A. Gates, Chairman 605276 B-709 P-'L 96 10/23/1996 02:OOP PG 2 OF 4 e« F~ C c 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 ~,~,~ 7 This Resolution passed by ~~ '- (~ vote of the Board of County Commissioners of the County of Eagle, State of Colorado. mta\r\bentgrs.ter #87-84 605276 B-709 P-296 10/23/1996 02:OOP PG 3 OF 4 U'~ r•~ C~ ^... c 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 ~ ,, c~ r ~_ C i EXHIBIT