HomeMy WebLinkAboutR08-014 Final Release of Collateral Edwards Medical Center PUDCommissioner V l~~.G.-+ C.U ~.~+ - moved adoption
of the following Resolution:
BOARD OF COUNTY COMMISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION N0.2008- ~~
FINAL RELEASE OF COLLATERAL
AND
TERMINATION OF THE WARRANTY PERIOD
FOR
EDWARDS MEDICAL CENTER PUD
FILE NO. AFP-00084
WHEREAS, on Apri120, 2000 the Boazd of County Commissioners of Eagle County,
Colorado ("Boazd") entered into a Subdivision Improvements Agreement ("Agreement") with
Vail Clinic, Inc., a Texas Non-Profit Corporation ("Subdivider") as a condition of approval of
the final plat for Edwards Medical Center PUD; and
WHEREAS, both the Subdivider and the Engineering Department state that the work
required under the Subdivision Improvements Agreement has satisfactorily passed the two-yeaz
warranty period and the Engineering Department recommends full release of the collateral (see
"Exhibit A"). Based upon the written recommendations of the County staff, THE BOARD
FINDS that the Subdivider's obligations under the Agreement have been satisfied; and
WHEREAS, the warranty period required by the Subdivision Improvements Agreement
has ended.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMIVIISSIONERS OF THE COUNTY OF EAGLE, STATE OF COLORADO:
THAT, the Boazd hereby authorizes the full and final release of collateral and the
termination of the Subdivision Improvements Agreement for Edwards Medical Center PUD.
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 Edwazds Medical Center
PUD has been successfully completed and that the Subdivider's obligations under the Agreement
aze complete.
THAT, Letter of Credit No. 8319278 in the amount of $30,921.75 held by the County be
released.
MOVED, READ AND ADOPTED by the Board of County Commissioners of the
County of Eagle, State of Colorado, at its regular meeting held the ~ day of February, 2008.
ATTEST:
Clerk to the Bd/ard of "~, Q
County Commissioners
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
BOARD OF COUNTY COMMISSIONERS
By:
By:
Commissioner ~ `~~ ~"~- seconded adoption of the foregoing resolution. The roll
having been called, the vote was as follows:
Commissioner Runyon
Commissioner Fisher a
Commissioner Menconi ~
This Resolution passed by ~ / U vote of the Board of County
Commissioners of the County of Eagle, State of Colorado.
G:UKS~resolutions~F.dwards Medical final release.DOC
Commissioner
MEMORANDUM
TO: Nancy Wright, Attorney's Office
FROM: Greg Schroeder, Engineering Department /~
DATE: Monday, February 04, 2008 C','
FILE #: AFP-00084
RE: Edwards Medical Center, Release of Collateral and Termination of
Warranty
On November 2, 2007, the warranty for the above mentioned file expired. On
Wednesday, January 16, 2008, I met with Darrell Flores representing Edwards Medical
Center to discuss releasing of the final remaining 10% collateral, an amount of
$30,921.75. Based upon my inspections, the two yeaz warranty period has been
completed successfully.
I recommend releasing the remaining $30,921.75 collateral and terminating the SIA.
Please contact me if you have any questions. Thank you.
# # #
xc: Eva Wilson, County Engineer
Chrono/File
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