HomeMy WebLinkAboutR02-164 Arrowhead at Vail, Filing 18 Release r 8 •
Commissioner Ek 7 u2 moved adoption
of the following Resolution:
BOARD OF COUNTY COMMISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION NO. 2002-Ael
FINAL RELEASE OF COLLATERAL
AND
TERMINATION OF THE WARRANTY PERIOD
FOR
ARROWHEAD AT VAIL, FILING 18
PDF -00011
WHEREAS, on September 12, 1997, Vail/Arrowhead, Inc. ( "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 Arrowhead at Vail, Filing 18; 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 Arrowhead, Filing 18.
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 Arrowhead, Filing 18 has been
successfully completed and that the Subdivider's obligations under the Agreement are complete.
THAT, the Letter of Credit No. SLC006248DDEN and SLC006249DDEN issued by US
Bank National Association be returned.
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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 the /COL, day of
e n _ , 2002.
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
ATTEST: BOARD OF COUNTY COMMISSIONERS
By: _/ A. 0 I / *_ * �
Y� Y
Clerk to the Boa / of *Lew Michael L. Gallagher
County Commissioners Ch ,'• .
t . e
sib
By:
Arn M. Menconi . --
Commissioner i4 2 44.4 1Q.44- AD ' 11.-. ---- -)
,47
By: 4/1
Tom • Stone
Commissioner
Commissioner seconded adoption of the foregoing resolution. The roll
having been ca he vote was as follows:
Commissioner Michael L. Gallagher
Commissioner Arn M. Menconi
ad
Commissioner Tom C. Stone a/A--
This Resolution passed by 2 ' vote of the Board of County Commis-
sioners of the County of Eagle, State of Colorado.
G: \jks\resolutions\arrowhead filing 18
File no. 82 -236
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MEMORANDUM
EAGLE COUNTY ENGINEERING
TO: Janice Scofield, Legal Secretary
Eagle County Attorney's Office
FROM: John M. Vengrin i4V
Engineering Department
DATE: November 14, 2002
RE: Letter of Credit Nos. SLC006248DEN & SLC006249DEN, PDF- 00011, Arrowhead Filing
18, Subdivision Improvements Agreement (SIA) Dated September 12, 1997, Reception
No. 633247, Termination of Warranty Period and SIA
On October 23, 2002, I conducted an inspection of the improvements to Arrowhead Filing 18
completed since my last inspection on November 7, 2000. I found the improvements to have
satisfactorily passed the two -year warranty period. On November 13, 2002, I received as -built
drawings for the subdivision from Alpine Engineering. The subdivider has fulfilled all of the
obligations stipulated in the SIA.
Therefore it is my recommendation that the SIA be terminated and that the remaining
collateral in the amount of $90,930.45 be released. In Consent No. 2001 -03, the expiration date
of the warranty period was established as January 8, 2003. The start of the warranty period was
delayed back in late 2000 because some documentation was to be provided. However, there was no
change to the actual improvements between my inspection of November 7, 2000 and January 8,
2001. The improvements have completed a two year period, that is why I am recommending a
release of collateral and termination of the SIA prior to January 8, 2003.
# # #
Pc: Helen Migchelbrink, County Engineer
Jamie Pappas, Vail Resorts
Chrono
File (Arrowhead, F18, PDF - 00011)
EXHIBIT