HomeMy WebLinkAboutR96-162 final release of collateral for Sopris View Apartments Parcels IV and VCommissioner moved adoption
of the following Resolution:
BOARD OF COUNTY COMMISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION N0. 96-16
AUTHORIZING THE FINAL RELEASE OF COLLATERAL
AND
TERMINATION OF THE WARRANTY PERIOD
FOR
SOPRIS VIEW APARTMENTS -- PARCELS IV AND V
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
(hereinafter "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
acG,epted collateral sufficient in the judgment of the County
Attorney to guarantee the completion of public improvements
associated with Parcels IV and V; and
WHEREAS, by Eagle County Resolution No. 94-201 the Board
commenced the two year warranty period for Parcels IV and V and set
the expiration date to December 6, 1996; the Board further retained
$1,742.00 or ten percent of the original cost estimate for each
Parcel, which amount was held for the duration of the warranty
period; and
WHEREAS, Subdivider has represented that the subdivision
improvements for Parcels IV and V have satisfactorily survived the
warranty period; and
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 $1,7420.00 and the termination of
the warranty period for Phase IV of Sopris View Apartments.
THAT, the Board hereby authorizes the full and final release
of collateral in the amount of $1,7420.00 and the termination of
the warranty period for Phase V 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 Parcels IV and V of Sopris View Apartment has
been successfully completed and that the Subdivider's obligations
under the Agreement are complete, in regards to Parcels IV and V
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 ~jQ~, day of December, 1996.
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Clerk to the hoard of
County Commissioners
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
BOARD OF COUNTY COMMISSIONERS
By: ,
George Gates, Chairman
ohnnet~e Phil 'ps, Comm's~r
Commissioner ~~Llp~ seconded adoption of the
foregoing resolution. T~tie roll having been called, the vote was as
follows:
Commissioner Gates a,~,j,L
Commissioner Phillips ~~,,,`,
Commissioner Johnson
This Resolution passed by _~~ ~~ vote of the Board of
County Commissioners of the County of Eagle, State of Colorado.
mta\r\soprisIV.ter
#84-152
MEMORANDUM
EAGLE COUNTY ENGINEERING
TO: Maureen Amundson, Attorney's Office
FROM: John Althoff, Engineering ~1
DATE: December 26, 1996
RE: Sopris View Apartments, Phases IV and V
The public improvements for phases IV and V have successfully
completed the warranty period. Would suggest closing out the
Subdivision Improvements Agreement. The County will not be
maintaining any public improvements associated with phases IV and
V of this project.
xc: George Roussos
Chrono/file
EXHIBIT