HomeMy WebLinkAboutR02-021 final release of collateral for Fox Run MeadowsJ
Commissioner . moved adoption
of the following Resolution:
BOARD OF COUNTY COMMISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION NO. 2002- c �
FINAL RELEASE OF COLLATERAL
AND
TERMINATION OF THE WARRANTY PERIOD
FOR
FOX RUN MEADOWS
PDF -00013
WHEREAS, on February 9, 1998, Fox Run Meadows ( "Subdivider ") and the Board of
County Commissioners of Eagle County, Colorado (hereinafter "Board ") entered into a
Subdivisions Improvements Agreement (hereinafter "Agreement ") concerning the development
of Fox Run Meadows; 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.
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, 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.
THAT, the Board hereby authorizes the full and final release of collateral and the
termination of the Subdivision Improvements Agreement for Fox Run Meadows; and
THAT, based upon the recommendations of the County staff, the Board accepts the
following roadway for maintenance and inclusion in the Eagle County Road Inventory:
THAT, a new road called Fox Run Drive, extending from the south side of Fender Lane,
in the southerly direction for approximately 3,170 feet (0.60 miles) to the end. The north end of
Fox Run Drive, is approximately 1,300 Feet east of the intersection of Fender Lane and Harmony
Road.
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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 Fox Run Meadows has been
successfully completed and that the Subdivider's obligations under the Agreement are complete.
THAT, the Letter of Credit No. NVS372980 issued by Wells Fargo Bank be returned.
MOVED, READ AND ADOPTED by the Board of County Commissioners of the
County of Eagle, State of Colorado, at its regular meeting held the Lay of February, 2002.
ATTEST:
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
BOARD OF COUNTY COMMISSIONERS
Y _
erk to the Bo rd of
County Commissioners
By: e? ALLQyt-)"
Am M. Menconi
Commissioner
By: < �� _ _
Tom C. Stone
Commissioner
Commissioner seconded adoption of the foregoing resolution. The roll
having been called, the vote 9vas as follows:
Commissioner
Michael L. Gallagher �.
Commissioner
Tom C. Stone
Commissioner
Am M. Menconi ---
This Resolution passed by c__�) — 0 vote of the Board of County Commis-
sioners of the County of Eagle, State of Colorado.
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MEMORANDUM
EAGLE COUNTY ENGINEERING
TO: Janice Scofield
Eagle County Attorney's Office
FROM: Justin Hildreth, PE
Project Engine , ngineering Department
DATE: January 23, 2002
RE: PDF -0013, Fox Run Meadows
Termination of Warranty Period and Subdivision Improvements Agreement and the
Acceptance of Fox Run Drive for County Maintenance, "Subdivision and Off -Site
Improvements Agreements Agreement, Fox Run Meadows, PDF 00013 ", Rec. No 646689
Dated February 9, 1998.
On December 04, 2001, I inspected the public improvements covered by the above referenced
Subdivision Improvements Agreement (SIA) in need of correction as noted in my letter of
October 29, 2001. All of the items noted in that letter have been satisfactorily corrected. Due to
the minor nature of the corrections that were made, it is my recommendation that the one -year
correction period be terminated. I also recommend that this SIA be terminated, and that the
remaining collateral in the amount of $63,387.00 be returned to the Subdivider, Fox Run
Meadows, LLLP.
In the resolution terminating the SIA please add that Eagle County accepts the following roadway
for maintenance and inclusion in the Eagle County Road Inventory:
A new road called Fox Run Drive, extending from the south side of Fender Lane, in the southerly
direction for approximately 3,170 feet (0.60 miles) to the end. The north end of Fox Run Drive,
is approximately 1,300 feet east of the intersection of Fender Lane and Harmony Road.
If you have any questions, please contact me at 328 -3567 or by intranet email, if you have any
questions.
cc: Helen Migchelbrink, County Engineer
Brad Higgin, Eagle County Road & Bridge Director
Sirous Saghatolasami, Fox Run Meadows LLLP
Chrono \File
H: \Justin \docs \PDF -0013, Warranty Release.wpd