HomeMy WebLinkAboutR91-083 release of collateral for DJ Organ Builders for Old Edwards Estates VIII463566 B -567 F -844 2,/26,/91 -10,55 PG 1 OF REC DOC.
JOHNNETTE PHILLIPS EAGLE COUNTY CLERK, COLORADO 0.00 0.00
i
Commissioner �{J�� moved adoption
of the following Resolution:
BOARD OF COUNTY
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION NO. 91- 3,
RELEASING THE COLLATERAL FOR D.J. ORGAN BUILDERS, INC.
FOR THE PAVING AND LANDSCAPING PROJECT OF THE
OLD EDWARDS ESTATES VIII
i
WHEREAS, on or about May 9, 1991, The Board of County LO
Commissioners of the County of Eagle, State of Colorado (herein-
after "the Board "), entered into a Subdivision Improvements
Agreement ( "the Agreement ") with D.J. Organ Builder, Inc.,
D.J.Organ, individually, and Karl Reuther ( "Subdivider ").
WHEREAS, on May 9, 1991, D.J. Organ Builders, Inc., presented
to the Board of County Commissioners of Eagle County, Colorado,
two Time Certificate of Deposit Number 15742 and Number 15741,
issued by The First Bank of Eagle County, in the amount of
$21,000.00 and $13,650.00; and
WHEREAS, on August 5, 1991, the Board released the Time
Certificate of Deposit Number 15742 in its entirety, by resolution
number 91 -57; and
WHEREAS, said Time Certificate of Deposit Number 15741 was
provided in order to guarantee that D.J. Organ Builders, Inc.,
would faithfully conclude the paving and landscaping project in
accordance with the Regulations at the property known as Old
Edwards Estates VIII in Edwards, Colorado; and
WHEREAS, D.J. Organ Builders, Inc., has represented that it
has completed the process of the paving and landscaping project,
and has requested that the Time Certificate of Deposit Number 15741
be released; and
WHEREAS, D.J. Organ Builders, Inc., have presented to the
Board of County Commissioners of Eagle County, Colorado, a
Irrevocable Letter of Credit Number 148, issued by The First Bank
of Eagle County, Eagle, Colorado, in the amount of $3,150.00, the
required amount for the two year warranty period; and
WHEREAS, the Department of Community Development concurs that
D.J. Organ Builders, Inc., has complied with its paving and
landscaping requirements, and recommends that the Time Certificate
of Deposit Number 15741 be released.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF THE COUNTY OF EAGLE, STATE OF COLORADO:
That The First Bank of Eagle County's Time Certificate of
Deposit Number 15741, in the amount of $13,650.00, be released in
its entirety.
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 November, 1991.
ATTEST:
By:
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
BOARD OF COUNTY COMMISSIONERS
Richard L. Gustafson,
Commissioner
-2-
463966 R -567 F -844 11;26/91 10 55 AG 2 OF 3
Commissioner seconded adoption of the
foregoing resolution. The roll having been called, the vote was
as follows:
Commissioner Donald H. Welch
Commissioner George A. Gates
Commissioner Richard L. Gustafson
This Resolution passed by 74/ 4 ;1- vote of the Board of
County Commissioners of tkie County of eagle, State of Colorado.
82 -256
r
-3-
463966 B-567 P -844 11; 26191 10:55 PG 3 OF 3