HomeMy WebLinkAboutR06-118 - final release of collateral for Valley View Homes Subdivision
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EAGLE COUNTY, CO 2101071010197
~~:~ J3 SIMONTON 03:43:42PM 101/104/210107
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Commissioner b~ moved adoption
of the following Resolution:
BOARD OF COUNTY COl\1MlSSIONERS
COUNTY OF EAGLE, ST ATE OF COLORADO
RESOLUTION NO. 2006- 111J
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FINAL RELEASE OF COLLATERAL
AND
TERMINA TION OF THE WARRANTY PERIOD
FOR
VALLEY VIEW HOMES SUBDIVISION
File No. SUF-00004
WHEREAS, on December 11,2001, Adriaan Van't Hoff, Karen Boyd-Van't Hoff, and
Segal Broecker Properties, LLC ("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 Valley
View Homes Subdivision; and
WHEREAS, by Eagle County Consent No. 2004-19, the County commenced the
warranty period for Valley View Homes Subdivision, said warranty period expired July 1, 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 Improvements
Agreement, see Exhibit "A," attached hereto and incorporated herein by this reference. Based
upon the oral and 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 Improvements Agreement
has ended.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COl\1MlSSIONERS 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 Improvements Agreement for Valley View Homes Subdivision.
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 Valley View Homes Subdivision
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 in the Valley View Homes Subdivision..
THAT, the Letter of Credit No. 7835493-6001 issued by Vectra Bank of Colorado be
returned.
l\'IOVED, READ AND ADOPTED by the Board of County Commissioners of the
County of Eagle, State of Colorado, at its regular meeting held the I Cj day of December,
2006.
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
",,!,,>,~_BOARD OF COUNTY COMMISSIONERS
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'c- Peter F. Runyon
Chairman
ATTEST:
By:
Clerk to the Boar of
County Commissioners
"'
By:
Arn enconi
Commissioner
\
Commissioner ~~/(~1 seconded adoption of the foregoing resolution. The roll
having been called, the vote was as follows:
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This Resolution passed by ;3 / 0 vote of the Board of County
Commissioners of the County of Eagle, State of Colorado.
Commissioner Runyon
Commissioner Stone
Commissioner Menconi
G:VKS\resolulions\ValIey View final release,DOC
MEMORANDUM
EAGLECOUNTYENGThffiEroNG
TO: Janice Scofield
Attorney's Office
/ /"
FROM: Mike Gruber Il'it tC (?
Engineering
DATE: 12/8/2006
RE: Valley View Homes Subdivision, SUF-00004, Release of Collateral and Termination of
the Warranty Period and Subdivision Improvements Agreement
Mr. Adriaan Van't Hoffhas made a request for inspection of work for the Valley View Homes
Subdivision under the warranty period as established by Consent No. 2004-19. 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 Agreement and release of the remaining collateral in the amount
of $57,384.03. 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 has not been requested and is not required for these roads.
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Pc: Greg Schroeder, Acting County Engineer
Chrono/File
EXHIBIT
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