HomeMy WebLinkAboutR02-075 final release of collateral for Cordillera Subdivison Filing 28a
Commissioner moved adoption
of the f flowing Resolution:
BOARD OF COUNTY COMMISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION NO. 2002-(D76
FINAL RELEASE OF COLLATERAL
AND
TERMINATION OF THE WARRANTY PERIOD
FOR
CORDILLERA SUBDIVISION, FILING 28
WHEREAS, on June 3, 1997, Stag Gulch Partners ( "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 Cordillera Subdivision, Filing 28;
WHEREAS, by Eagle County Consent No. 99 -17, the County commenced the warranty
period for Filing 28, said warranty period to expire June 24, 2001; 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
COMMISSIONERS 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 Cordillera Subdivision, Filing 28.
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 Cordillera Subdivision, Filing 28
has been successfully completed and that the Subdivider's obligations under the Agreement are
complete.
Page: I of 3
06/05/2002 04:45P
Sara J Fisher Eagle, CO 370 R 0. 00 D 0.00
W
G 0
I THAT, the Letter of Credit No. S407279, Amendment No. 5 issued by Wells Fargo Bank
be returned.
THAT, Eagle County does not assume responsibility for maintenance or upkeep of the
roads in Cordillera Subdivision Filing 28.
MOVED, READ AND ADOPTED by the Board of County Commissioners of the
County of Eagle, State of Colorado, at its regular meeting held the �23 day of
, 2002.
ATTEST:
County Commissioners
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
BOARD OF COUNTY COMMISSIONERS
By:
Michael Gallgher _
Chairman
Commissioner
Commissioner seconded adoption of the foregoing resolution. The roll
having been called, the vote was as follows:
Commissioner
Michael t Gallagher
Commissioner
Tom C. Stone
Commissioner
Am M. Menconi may(
This Resolution passed by (3-0 vote of the Board of County Commis-
sioners of the County of Eagle, State of Colorado.
G:\Paralegal\Consent\Final Collateral \Cordillera Filing 28.wpd 79799
111111111111111111111111111 11�11 111111111111111 �111 1111 Page: 2 of 3
06/05/2002 04:45P
Sara J Fisher Eagle, CO 370 R 0.00 D 0.00
to the Board of
0
M
C-1i
MEMORANDUM
EAGLE COUNTY ENGINEERING
TO: Bruce Strasinger, Paralegal, Attorney's Office
FROM: Mike Gruber / Engineering &0625�
DATE: April 29, 2002
a
APR 3 0 2002 t'
— EAGLE COUNTY ATTORNEY
RE: Cordillera, Filing 28, Final Collateral Release, Termination of SIA
Formal request to close out the SIA for this filing was submitted by the developer, John Cahill, Director
of Construction, Cordillera, in a letter dated February 6, 2002. This office responded that a final
inspection would be performed as soon as snow melt allows for a thorough inspection.
Inspection was conducted after the completion date of the warranty period as determined by Consent
No. 99 -17. The improvements are complete per the terms and conditions of the SIA and have survived
the two year warranty period . I recommend termination of the SIA and final release of the collateral
in the amount of $31,338.60 which represents the 10% being retained until the time of a successful
completion of the warranty period.
These improvements entail the construction of utility infrastructure and private roadways. County
maintenance is not required for these roadways.
111111111111111111111111111 III
Sara J Fisher Eagle, CO 370
cc: Helen Migchelbrink, County Engineer
Chrono/File
797990
Page: 3 of 3
05/05/2002 04:45P
R 0.00 D 0.00