HomeMy WebLinkAboutR02-151 Cordillera Valley Club Filing 9 Final Release • • 2.
Commissioner ( moved adoption
of the following Resolution:
BOARD OF COUNTY COMMISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION NO. 2002- /6
FINAL RELEASE OF COLLATERAL
AND
TERMINATION OF THE WARRANTY PERIOD
FOR
CORDILLERA VALLEY CLUB, FILING 9
File No. PDF -17
WHEREAS, on May 4, 1998, Cordillera Valley Club Investors Limited Partnership, a
Colorado limited partnership ( "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 Valley Club, Filing 9; and
WHEREAS, by Eagle County Consent No. 2000 -05, the County commenced the
warranty period for Cordillera Valley Club, Filing 9, said warranty period expired in June 2002;
and
WHEREAS, the Subdivider provided a letter of credit in the amount of $40,231.45
representing 10% of the collateral to be held throughout the two -year warranty period. Said
Letter of Credit expired on August 30, 2002; and subdivider provided a cashier's check payable
to the Eagle County Treasurer in the amount of $40,231.45 to be held until final release could be
recommended; 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
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• 0
termination of the Subdivision Improvements Agreement for Cordillera Valley Club, Filing 9;
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 Valley Club, Filing 9,
has been successfully completed and that the Subdivider's obligations under the Agreement are
complete.
THAT, the Board of County Commissioners hereby directs the Eagle County Treasurer
to issue a warrant to the Subdivider in the amount of $40,231.45.
THAT, the public improvements entailed construction of a utility infrastructure and a
private road. Eagle County does not assume responsibility for maintenance or upkeep of the
road in Cordillera Valley Club, Filing 9.
MOVED, READ AND ADOPTED by the Board of County Commissioners of the
County of Eagle, State of Colorado, at its regular meeting held the ( V day of October,
2002.
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
ATTEST: oi cj- c BOARD OF COUNTY COMMISSIONERS O ' '
1 0
tu B i� . • -
1 0 0 /
Clerk to the Boa d of ,ocoo Mich Gallagher
County Commissioners C : •i
I ilk
By: . s ��ii
encom
Commissioner
By: .. 40" Tom C. tone
Commissioner
Commissioner seconded adoption of the foregoing resolution. The roll
having been calle e vote was as follows:
Commissioner Michael L. Gallagher
Commissioner Arn M. Menconi
Commissioner Tom C. Stone
This Resolution passed by 3 - 0 v the Board of County Commis-
sioners of the County of Eagle, State of Colorado.
G: \j ks \resolutions \ \finalreleasecvc9
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MEMORANDUM
EAGLE COUNTY ENGINEERING
TO: Janice Scofield, Attorney's Office
FROM: Mike Gruber / Engineering
DATE: September 25, 2002
RE: Cordillera Valley Club, Filing 9, Release of Collateral and Termination of The Warranty Period
Mr. David Joseph, the representative for Cordillera Valley Club called our office on June 13, 2002
stating a request for inspection of work for filing 9 under the warranty period as established by Consent
Resolution No. 2000 -5. Water and sewer witness drawings were received on July 25, 2002.
Subdivision improvements as -built drawings were received on September 19, 2002.
Inspection was conducted by me on June 25, 2002. The improvements are complete, have survived the
two -year warranty and are acceptable per the terms and conditions of the Subdivision Improvements
Agreement.
I recommend termination of the Agreement and final release of the collateral in the amount of
$40,231.45 which represents the 10% being retained until successful completion of the warranty period
and fulfilment of the terms and conditions of the Subdivision Improvements Agreement.
These improvements entail the construction of utility infrastructure and a private roadway. County
maintenance is not required for this roadway.
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cc: Helen Migchelbrink, County Engineer
Chrono/File
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