HomeMy WebLinkAboutR90-123 partial release of collateral for Soderberg #3A
439548, B -543 P -402 12/04/90 1G:59 PG 1 OF „ 'REC DOC
JOHNNETTE PHILLIPS EAGLE COUNTY CLERK, COLORADO 0.00 0.00
V,
Commissioner 0 moved adoption
of the following Resolution:
BOARD OF COUNTY COMMISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION NO. 90- /A3
FINDING THE IMPROVEMENTS TO BE SUBSTANTIALLY COMPLETE -
SODERBERG SUBDIVISION, FILING NO. 3
WHEREAS, on or about January 9, 1990, the Board of County
Commissioners of the County of Eagle, State of Colorado ( "the
Board ") did enter into a Subdivision Improvements Agreement
( "Agreement ") with Frank L. Soderberg and Charles S. Marsh
( "Subdividers ") for certain public improvements within Soderberg
Subdivision, Filing No. 3; and
WHEREAS, on July 2, 1990, the Board and the Subdividers
amended the Agreement; and by Resolution No. 90 -73 the Board
authorized a reduction in collateral to $2,122.80, which represen-
ted the estimated cost of the landscaping improvements; and
WHEREAS, the Board presently holds as collateral two letters
of credit totaling $2,268.00; and
WHEREAS, the Subdivider has represented that the landscaping
improvements are complete, and the County Engineering Department
has verified that the work is satisfactory.
WHEREFORE, based on the oral and written recommendation of the
County Engineering Department, the Board finds as follows:
1. The landscaping improvements required under the Agreement
are complete.
2. It is in the best interest of the County that ten percent
of the cost of the total improvements be retained for the
two -year warranty period required by Paragraph 2.2 of the
Agreement.
3. The collateral presently held by the Board is less than
ten percent of the cost of the total improvements;
therefore, no further reduction of said collateral is
appropriate at this time.
4. The remaining improvements within the Subdivision were
found to be complete on July 2, 1990.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF THE COUNTY OF EAGLE, STATE OF COLORADO:
1. The landscaping improvements are complete: the two -year
warranty period for landscaping shall continue until
December 3, 1992.
2. The collateral totaling $2,268.00 shall not be released
until the improvements satisfactorily survive the
warranty period.
THAT, the finding that the improvements are complete does not
in any way abrogate the rights of the Board in enforcing the
Subdividers' performance of their outstanding obligations under the
Agreement.
MOVED, READ AND ADOPTED by the Board of County Commissioners
of the County of Eagle, State of Colorado, this ��� day of
December, 1990.
ST:
)1erk to the Board of
County Commissioners
439548 8 -543 P -402 12/04/90 16:59
-2-
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
BOARD OF COUNTY COMMISSIONERS
Donald Chairman
- --
rd� �
Geor A. Gates, Commissioner
Richard L. Gustafson,
Commissioner
PG 2 OF 3
Commissioner W'dliOr- seconded adoption of the
foregoing resolution. The roll having been called, the vote was
as follows:
Commissioner
Donald H.
Welch
112_
Commissioner
George A.
Gates
jj:� c,`
Commissioner
Richard L.
Gustafson
#P AZ''
This Resolution passed by vote of the Board of
County Commissioners of the County of Eagle, State of Colorado.
439548 8 -543 P -402 12/04/90 16:59
90 -02
ISIS
PE 3 Or 3