HomeMy WebLinkAboutR02-058 final release of collateral for Edwards Station4L
Commissioner , -) ?f l moved adoption
f the following
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION NO. 2002-
AUTHORIZING THE FINAL RELEASE OF COLLATERAL
FOR
EDWARDS STATION
WHEREAS, pursuant to C.R.S. 30 -28 -137, the Board of County Commissioners of the
County of Eagle, State of Colorado ( "County') entered into a Off -Site Improvements Agreement,
dated March 8, 1999, ( "Agreement ") with East West Partners, a Colorado Corporation, ( "Owner ")
as condition of approval for a Special Use Permit, File No. SMA- 00006; and
WHEREAS, pursuant to Article 2, Security and Collateral of the Agreement, the Owner was
required to provided collateral for the completion of certain public improvements; and
WHEREAS, the Owner provided the County with collateral in the form of a check, number
1237, issued by FirstBank of Avon, dated February 18, 1999, in the amount of $72,540.00; and
WHEREAS, pursuant to paragraph 1.4, the date of completion of the public improvements
was March 1, 2001; and
WHEREAS, pursuant to paragraph 2.6 of the Agreement, the Owner is in default of
construction of the required public improvements and required notice has been given; and
WHEREAS, pursuant to paragraph 2.5 of Agreement, the County may draw against the
collateral in the event of such a default to cure the deficient construction of the required public
improvements; and
THEREFORE, BE IT AUTHORIZED BY THE COUNTY OF EAGLE, STATE OF
COLORADO:
THAT, the Chairman of the Board of County Commissioners recognizes that the Owner is
in default of the construction for public improvements as required by the Agreement; and
THAT, pursuant to the Agreement, the collateral shall be drawn for the completion of the
required public improvements; and
THAT, the Board of County Commissioners authorizes the County Attorney to release the
collateral held by the County for transfer to the County Engineer $72,540.00 for completion of the
required improvements. ^� +
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MOVED, READ AND ADOPTED by the Board of County Commissioners of the County
of Eagle, State of Colorado, at its regular meeting held Z,Zday of e z � ' 2002.
{. ASiG.L
Q o� COUNTY OF EAGLE, STATE OF
N COLORADO, By and Through Its
ATTEST: * BOARD OF COUNTY COMMISSIONER
cQIU Ppo
1
By:
S a J. Fisher, Clerk tot e Michael L. Gallagher
Board of County Commissioners Ch ' an
Am M. Menconi
Commissioner
q&1eAW'11-P
Tom 0. Stone
Commissioner
Commissioner ) seconded adoption of the foregoing resolution. The roll
having been called, the vote was as follows:
Commissioner Tom C. Stone
Commissioner Michael L. Gallagher
Commissioner Arn Menconi G _>
This Resolution passed by vote of the Board of County Commissioners of
the County of Eagle, State of Colorado.
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