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R85-21 plat restriction on The Summit Vista SubdivisionCommissioner ) moved adoption of the following Resolution- BOARD OF COUNTY COMMISSIONERS COUNTY OF EAGLE, STATE OF COLORADO RESOLUTION NO. 85 - -/ _L P 110HUNETTE t1�LL� ?t ,-A?3LE CT'f' llrcori'r. DELETION OF PLAT RESTRICTION AS THE fq� 8 SAME RELATES TO LOTS T20 THROUGH 40, MAP, MP 5 L 37?M,F INCLUSIVE, OF THE SUMMIT VISTA SUBDIVISION, COUNTY OF EAGLE, STATE OF COLORADO WHEREAS, Summit Vista; Ltd., hereinafter referred to as the "Subdivider ", on or about August 22, 1984, entered into a Subdivision Improvements Agreement with the Board of County Commissioners of the County of Eagle, State of Colorado, hereinafter referred to as the "Board "; and WHEREAS, pursuant to the aforementioned Agreement, the Subdivider provided collateral by means of a plat restriction on the final plat of the Summit Vista Subdivision recorded in Book 395 at Page 305 of the real property records of the County of Eagle, State of Colorado, to guarantee faithful performance and completion of certain public improvements identified within the subject Subdivision Improvements Agreement; and WHEREAS, the above - described plat restriction provided as follows: "THIS PLAT AND THE LOTS DESCRIBED HEREIN IS SUBJECT TO THE FOLLOWING RESTRICTION: (a) SUBDIVISION IMPROVEMENTS AGREEMENT. There shall be no sales, leases, or any other form of conveyance of the real property described on this plat without permission of The Board of County Commissioners, nor shall building permits be issued for the above described real property until such time as this restriction shall be deleted by The Board of County Commissioners. ": and 1 J WHEREAS: Section 3 of the subject Subdivision Improvements Agreement provides the Subdivider may: at any time, substitute the collateral originally deposited with the Board for another form of collateral acceptable to the Board to guarantee the faithful completion of the required public improvements and the performance of the terms of the subject Subdivision Improvements Agreement, and WHEREAS, the Subdivider has substantially completed a number of the public improvements required within Phase I of the Summit Vista Subdivision and has requested a reduction in the collateral amount to reflect the same. Further, the Subdivider has requested the Board to delete the aforementioned plat restriction as it relates to Phase I, Lots 20 through 40, inclusive, of the Summit Vista Subdivision, and for those public improvements remaining to be completed within Phase I, to accept, as substitute collateral, an irrevocable letter of credit in the amount of sixty--six thousand three hundred dollars and no cents ($66,300.00); and WHEREAS, in conjunction with Phase I: Lots 20 through 40, inclusive, of the Summit Vista Subdivision, the purpose of the aforementioned plat restriction has been satisfied and adequate security has been given to guarantee and secure the completion of all remaining public improvements required under the subject Subdivision Improvements Agreement. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF THE COUNTY OF EAGLE, STATE OF COLORADO: THAT, the plat restriction appearing on the final plat of the Summit Vista Subdivision recorded in Book 395 at Page 305 of the real property records of the County of Eagle, State of Colorado, hereinabove more fully set forth, be, and the same hereby is, deleted only as such plat restriction relates and applies to Lots 20 through 40, inclusive, of the Summit Vista Subdivision. THAT, the recordation in the real property records of the County of Eagle, State of Colorado, of an original of this Resolution shall constitute the formal release of record of the above - described plat restriction only as the same relates to Lots 20 through 40, inclusive, o£ the Summit Vista Subdivision. THAT, the above - described plat restriction shall remain on the final plat of the Summit Vista Subdivision, and be applicable to, and in full force and effect, for Lots 1 through 19, inclusive, and Lots 41 through 47, inclusive, of the Summit Vista Subdivision as identified on the recorded final plat thereof. -2- THAT, the deletion of herein shall not, in any way, be Vista, Ltd. from the obligations certain Subdivision Improvements 1984, between Summit Vista, Ltd. Summit Vista Subdivision. the plat restriction set forth construed as releasing Summit and agreements within that Agreement dated August 22, and the Board relative to the THAT, the Board hereby determines the deletion of the plat restriction set forth herein will not abrogate the rights of the Board in enforcing the satisfactory completion of those public improvements remaining to be completed, by reason the Board still retains the plat restriction as it relates to Lots 1 through 19, inclusive, and Lots 41 through 47, inclusive, of the Summit Vista Subdivision, which is sufficient to guarantee completion of the same. THAT, the Board hereby finds; determines and declares that this Resolution is necessary for the public health, welfare, and safety of the citizenry 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 day of 1985. w ATTESrD- '.v c t� By : Jf er7� of COUNTY OF EAGLE, STATE OF COLORADO By and Through its BOARD OF COUNTY COMMISSIONERS By. Board of ssioners Do a d H. Wel�ommissioner -3- Commissioner �'✓��1 seconded adoption of the foregoing resolution. The roll having been called. the vote was as follows: Commissioner David E. Mott Commissioner Richard L. Gustafson l Commissioner Donald H. Welch This Resolution passed by ivWGi IYIOkS vote of. the Board of County Commissioners of the County of Eagle, State of Colorado.