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HomeMy WebLinkAboutR06-118 - final release of collateral for Valley View Homes Subdivision -, EAGLE COUNTY, CO 2101071010197 ~~:~ J3 SIMONTON 03:43:42PM 101/104/210107 .. "IHTlll illl III III 111111 II Commissioner b~ moved adoption of the following Resolution: BOARD OF COUNTY COl\1MlSSIONERS COUNTY OF EAGLE, ST ATE OF COLORADO RESOLUTION NO. 2006- 111J ~/ ~/ tJ( 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 X~"r",:..,'f~.'\~;:<~~~\\ ~.~. / ( ti) J;JiJI ) :~ \.S~<m ~ . 'Z . lop,,-\)'" '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: ~ uy-- u 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. # # # Pc: Greg Schroeder, Acting County Engineer Chrono/File EXHIBIT I I! 11//