HomeMy WebLinkAboutR02-067 final release of collateral for Territories at Cordillera01
Commissioner moved adoption
of the following Resolution:
BOARD OF COUNTY COMMISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION NO.
AUTHORIZING FINAL RELEASI= OF COLLATERAL
AND
TERMINATION OF THE WARRANTY PERIOD
FOR
TERRITORIES AT CORDILLERA
WHEREAS, on September 27, 1999, Kensington Partners (hereinafter "Subdivider ") and
the Board of County Commissioners of Eagle County, Colorado (hereinafter "Board ") entered
into a Subdivision Improvements Agreement (hereinafter "Agreement ") concerning the
development of Territories at Cordillera; 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 remaining 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 established in Consent No. 2001 -05 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 the remaining collateral
and the termination of the Subdivision Improvements Agreement for Territories at Cordillera;
and
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 Territories at Cordillera has been
successfully completed and that the Subdivider's obligations under the Agreement are complete.
THAT, the Letter .of Credit No. NVS372711 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 they of May 2002.
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ATTEST:
By: '_�
l
Clerk to the Board of
County Commissioners
Commissioner _ seconded adoption of the foregoing resolution. The roll
having been called, the vote was as follows:
Commissioner Michael C. Gallagher ad: 1
Commissioner Am M. Menconi —
Commissioner Tom C. Stone a - -- --
This Resolution passed by 3 - C) vote of the Board of County Commis-
sioners of the County of Eagle, State of Colorado.
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fi C
EAGLE COUNTY ENGINEERING
f
TO: Janice Scofield, Legal Secretary tt ,
Eagle County Attorney's Office APB; 2 i
FROM: John M. Vengrin�
Engineering Department
f
DATE: April 24, 2002
RE: PDF- 00034, Final Plat of Territories at Cordillera; Release of Warranty Collateral and
Termination of the Subdivision Improvements Agreement at Rec. No. 710627 Dated
September 27, 1999
I have reviewed the applicant's request for release of collateral for the above referenced Subdivision
Improvements Agreement (SIA). I have also inspected the work during a site visit on April 23,
2002. It is my recommendation that all of the remaining collateral in the amount of $35,221.12 be
released and that the SIA be terminated.
Please call or e-mail me if you have any questions.
Pc: Helen Migchelbrink, Eagle County Engineer
John Cahill, Cordillera
Chrono
File PDF -00034
Sara J Fisher Eagle, CO
EXHIBIT
x/
80650
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