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R89-124 draw on Thomas S. Carlin Minor PUDl 1 Commissioner �J-P_ I moved adoption of the following Resolution: BOARD OF COUNTY COMMISSIONERS COUNTY OF EAGLE, STATE OF COLORADO RESOLUTION NO. 89- Z Z AUTHORIZING THE DRAWING OF COLLATERAL FOR THOMAS S. CARLIN MINOR P.U.D., AND APPOINTING ATTORNEY IN FACT RELATIVE THERETO WHEREAS, on or about June 24, 1986, the Board of County Commissioners of the County of Eagle, State of Colorado (hereinafter "the Board ") , entered into a Subdivision Improvements Agreement with Thomas S. Carlin ( "Subdivider ") relative to the Thomas S. Carlin Minor P.U.D.; and WHEREAS, pursuant to the terms of said Subdivision Im- provements Agreement, Collateral was provided to the Board by the Subdivider to guarantee faithful completion of certain off -site and on -site public improvements, said collateral provided in the form of a Letter of Credit in the amount of $6,290.00; and WHEREAS, by subsequent resolutions, the Board found that the Subdivider had substantially satisfied the obligations under the Subdivision Improvements Agreement and resolved to authorize partial releases of collateral, except for a ten - percent retainage to collateralize the two -year warranty period for road improvements and landscaping; and WHEREAS, the Subdivider provided Irrevocable Letter of Credit No. 23 issued by Alpine Bank, Eagle, in the amount of $710.00, which represents said ten percent retainage to cover the two -year warranty period; and WHEREAS, upon the recommendation of the Department of Community Development, the Board finds that the road improvements have been satisfactorily completed, that no corrective work has become evident during the two -year warranty period, and that the collateral in the amount of $561.00 should be released; and WHEREAS, the Department of Community Development has further advised that the landscaping needs correction, and recommends that the Board retain the amount of $149.00 until correction has been accomplished by the Subdivider; and WHEREAS, the Subdivider was given notice by the Department of Community Development of its recommendation to retain collateral for the landscaping, and of the imminent expiration said Letter of Credit No. 23, and Subdivider has failed to provide new collateral for this purpose; and WHEREAS, the Board finds, determines and declares that it is in the best interest of the County of Eagle that said Letter of Credit be drawn upon and the funds be deposited by the Eagle County Treasurer and held as collateral until the Subdivider has corrected the landscaping improvements. NOW, THEN, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF THE COUNTY OF EAGLE, STATE OF COLORADO: THAT, the Chairman of the Board is authorized to sign a draft for the purpose of drawing upon the aforementioned Irrevocable Letter of Credit No. 23 in the amount of $149.00. THAT, Kevin Lindahl, Eagle County Attorney, is hereby granted power of attorney to act as attorney in fact for the County of Eagle, State of Colorado, and its Board of County Commissioners, to perform all acts and execute any and all documents reasonably incidental to drawing upon the subject Letter of Credit. THAT, the Chairman of the Board is authorized to execute a Power of Attorney for the purposes contemplated herein in the form attached to this Resolution as Exhibit A. -2- MOVED, READ AND ADOPTED by the Board of County Commissioners of the County of Eagle, State of Colorado, at its regular meeting held the 11th day of December, 1989. COUNTY OF EAGLE, STATE OF COLORADO �By and Through Its BOARDiOF COUNTY COMMISSIONERS L. GeorgeoA. Gates, Commissioner Donald H. Welch, Cbmmissioner Commissioner (2 d A) 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 gltlo -k/: *x44(6 vote of the Board of County Commissioners of the County of Eagle, State of Colorado. #86 -96 of -3- wuuLY wiLunrssioners POWER OF ATTORNEY r " KNOW ALL BY THESE PRESENTS: That the County of Eagle, State of Colorado, a body politic and corporate, reposing special trust and confidence in Kevin Lindahl, of the County of Eagle, State of Colorado, has made, constituted and appointed, and by these presents does make, constitute and appoint the said Kevin Lindahl the true and lawful attorney for the County of Eagle; and in its name, place and stead, for its sole use and benefit, to draw upon Irrevocable Letter of Credit No. 23 issued by Alpine Bank; Eagle, for the account of Thomas S. Carlin; and to execute, make, endorse, and accept any documents necessary to accomplish the foregoing purpose. Said draft shall be in the amount of $199.00. Hereby giving and granting unto Kevin Lindahl, said attorney, full power and authority to do and perform all and every act and thing whatsoever requisite and necessary to be done in and about the premises, as full to all intents and purposes as it might or could do if personally present, with full power of substitution and revocation, hereby ratifying and confirming all that its said attorney or his substitutes shall lawfully do or cause to be done by virtue hereof. ' IN WITNESS WHEREOF, the County of Eagle has caused its name to be signed by its Chairman of the Board of County Commissioners, and its seal to be affixed and attested by its Clerk, all being done in the Town of Eagle, and State of Colorado, on this day of December, 1989. ATTEST: COUNTY OF EAGLE, STATE OF COLORADO, By and Through Its BOARD OF COUNTY COMMISSIONERS By: Clerk of the Board of County Commissioners STATE OF COLORADO ) ss County of Eagle ) By: Richard L. Gustafson, Chairman I, 1 Notary Public in and for said Eagle County, in the State aforesaid, do hereby certify that Richard L. Gustafson, Chairman of the Board of County Commissioners of the County of Eagle, State of Colorado, and Johnnette Phillips, County Clerk and Clerk to the Board of County Commissioners, County of Eagle, State of Colorado, personally known to me to be the persons whose names are subscribed to the within Power of Attorney, appeared before me this day in person and acknowledged that they signed, sealed and delivered the said instrument of writing as their free and voluntary act and deed, for the uses and purposes therein set forth. Given under my hand and notary seal, this day of December, 1989. My commission expires Notary Public Y • C + �