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
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