HomeMy WebLinkAboutR93-158 extension of SIA and Letter of Credit for Old Orchardr
Commissioner moved adoption
of e follo ing Resolution:
BOARD OF COUNTY COMMISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION NO. 93 - L&
R
AUTHORIZING THE EXTENSION OF THE
SUBDIVISION IMPROVEMENTS AGREEMENT
AND LETTER OF CREDIT NO. 1181
FOR OLD ORCHARD SUBDIVISION
TO JUNE 31, 1994
WHEREAS, on or about April 9, 1991, pursuant to Section 30 -28-
137, C.R.S., the Board of County Commissioners of the County of
Eagle, State of Colorado ( "Board ") entered into a Subdivision
Improvements Agreement ( "Agreement ") with Mid - Valley Development
Co. by H.L.M.S., Inc., a Colorado Corporation, (Morton A. Heller,
Vice President of H.L.M.S., a Colorado corporation, General Partner
of Mid - Valley Development Company) ( "Subdivider ") as a condition of
final plat approval of Old Orchard Plaza Subdivision; and
WHEREAS, in order to guarantee the faithful completion of
certain public improvements required under the Agreement, the Board
accepted as collateral Irrevocable Standby Letter of Credit #1181,
dated April 9, 1991, issued by Pitkin County Bank & trust Company;
and
WHEREAS, by Resolution No. 92 -40 dated April 6, 1992,
Subdivider applied for and was granted a partial release of Letter
of Credit No. 1181 in the amount of $15,000.00, reducing the
collateral to $14,290.00; and
WHEREAS, by First Amendment to Subdivision, Improvement
Agreement dated October 9, 1992, the completion date of said
Agreement was extended to October 31, 1992; and
WHEREAS, by Resolution No. 92 -155 dated November 9, 1992,
Subdivider applied for and was granted an extension on the
Agreement and the Letter of Credit until December 31, 1992; and
WHEREAS, by Resolution No. 93 -211 dated December 21, 1993,
Subdivider applied for and was granted an extension on the
Agreement and the Letter of Credit until December 31, 1993; and
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B -630
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RE DOC
Sara J.
Fisher
Eagle County
Clerk
& Recorder
..1
WHEREAS, the Subdivider has requested an extension on the
Subdivision Improvements Agreement to June 31, 1994, (Exhibit A)
and the County agrees to said extension, for the mutual benefit to
be derived by said extension; and
WHEREAS, the Subdivider has provided an extension on the
Letter of Credit #1181, issued by Pitkin County Bank & Trust, to
June 31, 1994, (Exhibit B) and the County agrees to said extension.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF THE COUNTY OF EAGLE, STATE OF COLORADO:
THAT, the Board hereby authorize. the extension of the
Subdivision Improvements Agreement to 1, 1994.
THAT, the Boa d hereby authorize the extension of Letter of
Credit #1181 to Ju '* 1, 1994.
MOVED, READ AND ZOPTED by the Board of County Commissioners
of the County of Eagle, State of Colorado, this c day of
December, 1993.
ATTEST: Cdr
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
BOARD OF COUNTY COMMISSIONERS
By:
Clerk to the Board of
County Commissioners
r
eorge . Gates, Chairman
c
ohnnette Phillips, Commis inner
E. John , r.
mmissioner
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Commissioner t . The � roll having �� , seconded adoption of the
foregoing reso ution been called, the vote was as
follows:
Commissioner George A. Gates
Commissioner Johnnette Phillips zk
Commissioner James E. Johnson, Jr. _
tIq
This Resolution passed by -L3 —Q vote of the Board of
County Commissioners of the County of Eagle, State of Colorado.
Attachments
91 -21 orchard3.res
I
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Cz
TfIE,B.S. MOSS ENTERPRISES INC.
225 NORTH MILL STREET / ASPEN, CO 81611 / (303) 925-4550 / FAX: (303) 925-7503
December 'g, 1993
Eagle - County Board of Commissioners
500- Broadway
P.O. Box 850
Eagle, CO - 81631
REF: Old Orchard Subdivision
Your File No. 91
Dear Sirs:
This is a request for an extension of six months to June 30, 1 for the
Subdivision - Improvements Agreement between Mid-Valley Development and
the Eagles County Board, of Commissiorw dated April 9, 1991 for thG Old
Orchard SubdrVeion.
Thank you.
Sincerely,
Charles B. Moss,-Jr.
Mid-Valley Development
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A
Fi
CRITERION
r'l a e 0
NFALWAymn jL irmomm
NEW YORK ASPEN ROARING FORK VALLEY
s
December 9, 1993
BENEFICIARY:
Board of County Commissioners
County of Eagle
State of Colorado
500 Broadway
P.O. Box 850
Eagle, CO 81631
RE: AMENDMENT NO. 5 TO IRREVOCABLE LETTER OF CREDIT #1181
To Whom It May Concern:
The following is an amendment to our Irrevocable Standby Letter of
Credit Number 1181 for the account of Mid - Valley Development Co.
(Old Orchard Plaza Subdivision file No. 91 -21):
1.) The maturity date is hereby extended to June 30, 1994.
All other terms and conditions remain unchanged.
Sincerely,
PITRIN COUNTY B & " UST C r ANY/
Thomas W. Grif ' it
h�
Executive Vice Ries ' dent -'
/cb
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534 E. HYMAN AVE. • POST OFFICE BOX 3677 • ASPEN, COLORADO 81612 • PHONE 303/925 -6700