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R89-116 River Oaks two year warranty period begins(- Commissioner t1 T S moved adoption of the following Resolution: F? BOARD OF COUNTY COMMISSIONERS COUNTY OF EAGLE, STATE OF COLORADO RESOLUTION NO. 89 - _ 11 (,0 ACCEPTING THE PUBLIC IMPROVEMENTS OF THE RIVER OAKS ON THE ROARING FORK SUBDIVISION, AND COLLATERALIZING THE WORK FOR THE TWO -YEAR WARRANTY PERIOD. U 0 , WHEREAS, on or about July 28, 1987, the Board of County Q 'S' Commissioners of Eagle County, Colorado ( "the Board ") did enter into a Subdivision Improvements Agreement with Paul Adams and Clay Crossland, partners of Basalt Trade Associates, ( "the Subdivider ")' for the River Oaks on the Roaring Fork Subdivision; and L) G1 WHEREAS, the Subdivider has represented to the Board, and members of the County Department of Engineering have corroborated Subdivider's representations, that the improvements required under the Agreement have been satisfactorily completed; and ttJ Q WHEREAS, pursuant to Section 3.4 of said Agreement, there a U_ two -year correction period shall follow completion of the .-.0 improvements, during which time the Subdivider shall correct any U p defective work or replace any defective materials relative to said C L U improvements; said work shall be collateralized during the r correction period in an amount and type of collateral as shall be uJ reasonably determined by the County; and It _J U WHEREAS, the County Department of Engineering has recommended LO F that the work during the correction period be collateralized in the m = a mount of $2,800.00, and the Board has determined that said 03 o collateral be in the form of a Letter of Credit issued by a r W Colorado Bank; �J �¢ NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF THE COUNTY OF EAGLE, STATE OF COLORADO: r �Ja 1. That based upon the oral and written recommendations of CL i the County Department of Engineering, the Board determine that the r Subdivider's obligations to provide certain improvements have been DEL satisfied, subject to paragraph 3 below. �w F 2. That pursuant to Section 3.4 of the Subdivision m w Improvements Agreement, the work be collateralized for the required It z two -year correction period in the amount of $2,800.00, in the form O of a letter of credit issued by a Colorado Bank. , Zt �1 3. That upon the Board':; receipt of said letter of credit, the subdivision improvements shall be deemed to be accepted by the Board, and the two -year correction period shall begin. 4. That the Board finds, determines and declares that this Resolution is necessary for the public health, safety and welfare of the citizens of the County of Eagle, State of Colorado. MOVED, READ AND ADOPTED by the Board of County Commissioners of the County of Eagle, State of Colorado, at its regular meeting held the 6 day of November, 1989. COUNTY OF EAGLE, STATE OF COLORADO, By and Through Its BOARD OF COUNTY COMMISSIONERS By: /tl T Richard L. Gustafson, Chairman George Gates, Commissioner � \ ` ,%A Do a d . Welch, Commissioner Commissioner Cj"- / /�k seconded adoption of the foregoing resolution. The roll having been called, the vote was as follows: Commissioner Donald H. Welch Ao"e Commissioner George A. Gates 4- .j'e -- Commissioner Richard L. Gustafson k6 5.eI -d r This Resolution passed by vote of the Board of County Commissioners of the County of Eagle, State of Colorado. 87 -139 _2- M� Cd U_ 0 �e m m ti r- co 0j i 0. r u� if T N .t V County Commissioners