HomeMy WebLinkAboutR93-117 release of plat restriction for Bentgrass at Cordillerat
Commissione moved adoption
of the follows Resolu ion:
BOARD OF COUNTY COMMISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION NO. 93 - .4ja
RELEASE OF PLAT RESTRICTION
BENTGRASS AT CORDILLERA
A RESUBDIVISION OF TRACT C AND TRACT C -1
WHEREAS, pursuant to C.R.S. 30 -28 -137, the Board of County
Commissioners of the County of Eagle, State of Colorado ( "Board ")
entered into a Subdivision Improvements Agreement dated September
7, 1993 ( "Agreement ") with Stag Gulch Partners, a Colorado
General Partnership ( "Subdivider "), as a condition of final plat
approval for Bentgrass at Cordillera, a Resubdivision of Tract C
and Tract C -1; and
WHEREAS, Section 2.1 of the Agreement sets forth the
condition of the Security and Collateral. On the date of
execution of the "Agreement ", a Letter of Credit in the amount of
$148,268.00 was provided by Subdivider to the Board (attached
hereto as Exhibit A) -; and
WHEREAS, Section 2.1 of the Agreement also contained a
provision for a plat note as collateral; and
WHEREAS, the plat note restriction was inadvertently
included in Section 2.1 of the Agreement and should be released.
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF THE COUNTY OF EAGLE, STATE OF COLORADO:
1. THAT, the plat note placed on the Agreement for
Bentgrass at Cordillera, a Resubdivision of Tract C and Tract C -1
is hereby released.
517312 B -621 P -244 10/04/93 03:32P PG 1 OF 4 REC DOC
Sara J. Fisher Eagle County Clerk & Recorder 0.00
C
(71
MOVED, READ AND ADOPTED by the Board of County Commissioners
of the County of Eagle, State of Colorado, this L�/� day of
October, 1993.
ATTEST:
County Commis
Commission
going reso
follows:
Commissioner Gates
Commissioner Phillips
Commissioner Johnson
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
BOARD OF COUNTY COMMISSIONERS
By:
George A. Gates, Chairman
hnnette Phill' s,
This Resolution passed by vote of the Board of
County Commissioners of the County of Eagle, State of Colorado.
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bentgrmss
#87 -84
BHF -BANK
August 31, 1993 Berliner Handels-
und Frankfurter Bank
IRREVOCABLE LETTER OF CREDIT New York Branca
Number S9130359 55 East 59th Street
New York, NY 10022 -1186
Telephone (212) 756-5500
Board of County Commissioners FAX: (212) 756 -5966
County of Eagle
State of Colorado
P.O.Box 850
Eagle, Colorado 81631
Gentlemen: .
We hereby open our Irrevocable Letter of Credit in your favor, available by draft at
sight drawn on BHF -BANK, New York Branch for any sum or sums not exceeding in
total the sum of US$ 148,268.00 (One Hundred Forty Eight Thousand Two Hundred
Sixty Eight and 00/100 U.S. Dollars).
For the account of: JLP Realty Corp.
P.O. Box 988
Edwards, CO 81632
For the purpose of securing the improvements under the Subdivision Improvements
Agreement for Tract C and Tract C -1, Filing 7, Cordillera Subdivision, in the County of
Eagle, State of Colorado pursuant to that certain Subdivision Improvements
Agreement, dated September 7, 1993 between the County of Eagle, Colorado, and
Stag Gulch Partners, relative to the Cordillera Subdivision.
Each draft drawn at sight on BHF -BANK, New York shall be endorsed on the
reverse side of this Letter of Credit and bear upon its face "Drawn under Letter of
Credit number S9130359 of BHF -BANK, New York Branch dated August 31, 1993" and
shall be accompanied by a Resolution of the Board of County Commissioners of Eagle
County certifying 1.) that there has been a default under the Subdivision Improvements
Agreement, Filing 7, Cordillera Subdivision, and 2.) that a sum certain is required to
remedy the default.
BHF -BANK, New York Branch agrees with. the drawers, endorsers and bonafide
holders of drafts drawn and negotiated in compliance with the terms of this Letter of
Credit that such draft will be duly honored upon due presentation at the counter of this
bank.
BHF -BANK, New York Branch represents and warrants to the County of Eagle that
it has the full authority" and power to issue this Letter of Credit to the County of Eagle,
State of Colorado, in the total amount and for the period of time stated herein; said
authority being pursuant to the laws of the United States, or the State or territory which
Managing Partners:
Registered Head Offices: Registry and Commercial Register.
Wolfgang Graebner
Frankfurt/M and Berlin No. Frankfurt/M 72 HRB 20000
Charlottenburg in Berlin 92 HRB 20000
Heinz -Gemot Reiners
Wolfgang Rupf
Wulf v. Schimmelmann
Wolfgang Strutz
Louis Graf von Zech
EXHiBITA
/...2
Chairman of the Supervisory Board
Klaus Subjetzki
Corporate Status:
Limited Company with General Partners
Page 2
s = BHF -BANK
governs the establishment and. regulation of BHF -BANK, New York Branch charter, by-
laws and other applicable rules . and regulations adopted pursuant thereto. Should it be
necessary for the County of Eagle to file suit in an effort to enforce this irrevocable
Letter of Credit, BHF -BANK, New York Branch hereby waives all venue rights and
submits to the jurisdiction of the District Court in and for the County of Eagle, State of
Colorado.
All drafts hereunder must be drawn on or before December 31, 1994.
Unless otherwise stipulated, this Letter of Credit is subject to the Uniform Customs
and Practice for Documentary Credits (1983 Revision), ICC Publication No. 400.
Very truly yours,
diner Handels- and Frankfurter Bank
New York Branch
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