HomeMy WebLinkAboutR05-130 final release of collateral for Arrowhead at Vail Filing 27
EAGLE COUNTY RECORDER. COLORADO 937284
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III III II I II I II II 11/17/2005
Commissioner '-' V'\ moved adoption
of the foIl wing Resolution:
BOARD OF COUNTY COMMISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION NO. 2005- I r3 ~
FINAL RELEASE OF COLLATERAL
AND
TERMINATION OF THE WARRANTY PERIOD
FOR
ARROWHEAD AT VAIL FILING 27
WHEREAS, on April 3, 2001, Vail/Arrowhead, Inc., a Colorado Corporation
("Subdivider") and the Board of County Commissioners of Eagle County, Colorado (hereinafter
"Board") entered into a Subdivision and Off-Site Improvements Agreement (hereinafter
"Agreement") concerning the development of Arrowhead at Vail Filing 27; and
WHEREAS, by Eagle County Consent No. 2002-09, the County commenced the
warranty period for Arrowhead at Vail Filing 27, said warranty period expired October 4, 2004;
and
WHEREAS, by Eagle County Consent No. 2004-26, the County partially terminated the
warranty period for certain improvements completed satisfactorily and extended a one-year
warranty period for Arrowhead at Vail Filing 27, said warranty period to expire on November
24,2005; 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 of the 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.
WHEREAS, the warranty period required by the Subdivision and Off-Site
Improvements Agreement has ended.
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 Arrowhead at Vail
Filing 27.
THAT, Eagle County does not assume responsibility for maintenance or upkeep of the
roads in Arrowhead at Vail Filing 27.
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 Arrowhead at Vail Filing 27
has been successfully completed and that the Subdivider's obligations under the Agreement are
complete.
THAT, the Letter of Credit No. SLCPPDXOl767 issued by USBank National
Association be returned.
MOVED, READ AND ADOPTED by the Board of County Commissioners ofthe
County of Eagle, State of Colorado, at its regular meeting held the ~ day of November, 2005.
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
BOARD CO TY COMMISSIONERS
.
By: By:
Clerk BA c=~
County Commissi
Peter F. Runyon
Commissioner
By:
Tom C. Stone
Commissioner
Commissioner r1'V' /l (7 d 11 ; seconded adoption of the foregoing resolution. The roll
having been called, the vote was as follows:
Commissioner Menconi f9{/ ~
Commissioner Runyon ;4Y~
Commissioner Stone -
This Resolution passed by ;J vote of the Board of County
Commissioners ofthe County of Eagle, State of Colorado.
G:IJKS\resolutions\Arrowhead at Vail finaLDOC
MEMORANDUM
EAGLE COUNTY ENGINEERING
TO: Janice Scofield, County Attorney's Office
FROM: Phillip M. Bowman, Project Engineer f~ {P. 2-b. oS
DATE: October 26, 2005
RE: Arrowhead, Filing 27, PDF-00057
Termination of Extended Warranty Period
On October 24, 2005, I inspected the public improvements that were included in the extended
warranty established by Consent No. 2004-26. The improvements have successfully completed
the extended warranty, and it is recommended that the warranty period be terminated and that the
collateral in the amount of$85,011.38 be released.
These improvements entail the construction of utility infrastructure and private roadways.
County maintenance is not required for these roads.
Please call me at extension 3560 if you have any questions.
xc: Helen Migchelbrink:, County Engineer
Chrono/fiIe
EXHIBIT
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