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HomeMy WebLinkAboutR06-008 final release of collateral for Miller's Creek Commissioner f217/>r.C{5l'~ moved adoption of the following Resolution: BOARD OF COUNTY COMMISSIONERS COUNTY OF EAGLE, STATE OF COLORADO RESOLUTION NO. 2006- [[X8 FINAL RELEASE OF COLLATERAL AND TERMINATION OF THE WARRANTY PERIOD FOR MILLER'S CREEK File No. PDF-00021 WHEREAS, on June 22, 1998 M.RL.D., LLC ("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 Miller's Creek; and WHEREAS, by Eagle County Consent No. 2002-10, the County commenced the warranty period for Miller's Creek, which warranty period expired June 17,2004; 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; and WHEREAS, the warranty period required by the Subdivision 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 Miller's Creek. THA T, this document shall be recorded in the Records of the Eagle County Clerk and Recorder, which shall be evidence that the warranty period for Miller's Creek has been successfully completed and that the Subdivider's obligations under the Agreement are complete. THAT, the cash collateral held by the Treasurer be released and a warrant in the amount of $82,168.83 be issued to the Subdivider. THA T, Eagle County does not assume responsibility for maintenance or upkeep of the roads in Miller's Creek. MOVED, READ AND ADOPTED by the Board of County Commissioners of the County of Eagle, State of Colorado, at its regular meeting held the./.?;;,I day of January, 2006. J COUNTY OF EAGLE, STATE OF COLORADO, By and Through Its ATTEST: BOARD OF COUNTY COMMISSIONERS By: J:/~~ Peter F. Runyon, County Commissioners Chairman By: By: Am encom, Commissioner Commissioner /2.u->;l!!.';" seconded adoption of the foregoing resolution. The roll having been called, the vote as as follows: Commissioner Runyon ~ Commissioner Stone C ~ Commissioner Menconi L7 O'/D This Resolution passed by vote of the Board of County Commissioners of the County of Eagle, State of Colorado. G:VKSlresolutions\Miller's Creek final release.DOC MEMORANDUM EAGLE COUNTY ENGINEERING TO: Janice Scofield, Attorney's Office ~ FROM: Mike Gruber, Engineering ;iltlrG DATE: January 12,2006 RE: Release of Collateral and Termination of the Warranty Period, Miller's Creek, PDF- 00021 Mr. David Jaffe, agent for MLRD, LLC, has made a request for inspection of work for Miller's Creek under the warranty period as established by Consent No. 2002-10. Inspection indicates the improvements are complete, have survived the two-year warranty period and are acceptable per the terms and conditions of the Subdivision Improvements Agreement. I recommend termination of the Warranty Period and release of the remaining collateral in the amount of$82,168.83. This amount is equivalent to 10% of the improvements cost retained until successful completion of the warranty period and fulfillment of the terms and conditions of the Subdivision Improvements Agreement. These improvements entail the construction of utility infrastructure and private roadways. County maintenance is not required for these roads. # # # Pc: Helen Migchelbrink, County Engineer Chrono/File EXHIBIT ; I/!p :z; D 3