HomeMy WebLinkAboutR05-065 Final Release of Collateral Edwards Medical Center, Phase I File No. PD-331-96-F
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06/02/200501:29P
Teak J Simonton Eagle, CO 3"'''' R 0.00 o 0.00
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Commissioner ~ moved adoption
of the followi g Resolution:
BOARD OF COUNTY COMMISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION NO. 200S-.aa- -:::>
FINAL RELEASE OF COLLATERAL
AND
TERMINATION OF THE WARRANTY PERIOD
FOR
EDWARDS MEDICAL CENTER, PHASE I
File No. PD-331-96-F
WHEREAS, on December 17, 1996, Vail Clinic, Inc., a Texas Corporation (hereinafter
"Subdivider") and the Board of County Commissioners of Eagle County, Colorado (hereinafter
"Board") entered into a Subdivisions and Off-Site Improvements Agreement (hereinafter
"Agreement") concerning the development of the Edwards Medical Center, Phase I initially
referred to as the Eagle Valley Health Center; and
WHEREAS, both the Subdivider and the Engineering Department state that the work
required under the Agreement is complete and acceptable and the Engineering Department
recommends full release of the collateral and the termination ofthe Subdivision and Off-Site
Improvements Agreement, see Exhibit "A," attached hereto and incorporated herein by this
reference. Based upon the written recommendations of the County staff, THE BOARD FINDS
that the Subdivider's obligations under the Agreement have been satisfied; and
WHEREAS, the warranty period required by the Subdivision and Off-Site
Improvements Agreement expired on June 27,2004; and.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF THE COUNTY OF EAGLE, STATE OF COLORADO:
THAT, the Board hereby authorizes the full and final release of collateral and the
termination of the Subdivision and Off-Site Improvements Agreement for the Edwards Medical
Center, Phase 1.
THAT, this document shall be recorded in the records of the Eagle County Clerk and
Recorder, which shall be evidence that the warranty period for Edwards Medical Center, Phase I
has been successfully completed and that the Subdivider's obligations under the Agreement are
complete.
THAT, Eagle County does not assume responsibility for maintenance or upkeep of the
roads for the Edwards Medical Center, Phase 1.
THAT, the Letter of Credit No. 9653767 issued by IstBank of Vail be returned.
MOVED, READ AND ADOPTED by the Board of County Commissioners of the
County of Eagle, State of Colorado, at its regular meeting held the :5 I day of ~,
~. ~
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
ATTEST: BOARD OF COUNTY COMMISSIONERS
By:
Clerk to the Boar of
County Commissioners
By:
Commissioner
Commissioner I~ seconded adoption of the foregoing resolution. The roll
having been called, the vote was as follows:
Commissioner Am M. Menconi ff
Commissioner Peter F. Runyon
Commissioner Tom C. Stone
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This Resolution passed by vote of the Board of County Commissioners of
the County of Eagle, State of Colorado.
G:IJKS\resolutions\Edwards Medical Center, Phase I.DOC
MEMORANDUM
EAGLE COUNTY ENGINEERING
TO: Janice Scofield
Eagle County Attorney's Office
FROM: Pete Fralic~
Engineenng Department
DATE: May 20, 2005
RE: PD-331-96-F; Edwards Medical Center Phase I; Release of Collateral
Bryan Treu has issued a notice regarding expiration of the letter of credit numbered 96537767
for the Edwards Medical Center. This letter of credit is for a subdivision improvements
agreement made between Eagle County and the Edwards Medical Center. At the applicant's
request, I completed a final inspection for the Edwards Medical Center on May 19, 2005. The
as-built drawings have been secured by this office and the final inspection is complete. Based on
the final inspection, I recommend that the remaining balance of the collateral be reduced from
$16,816.00 to $0.00. This also concludes the two year warranty period. If you have any
questions feel free to contact me at 328-3562.
# # #
cc: Helen Migchelbrink, County Engineer
Chrono \File
G:\Pete FralickIMisc\Edwards Medical Center Release of Collateral. DOC
EXHIBIT
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