HomeMy WebLinkAboutR08-101 ContractOne, Inc Road Cut Permit Release of Assignment
Commissioner ~c...o '--' J moved adoption
of the following Resolution:
BOARD OF COUNTY COMMISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION NO. 2008-lDJ
FOR
RELEASE OF ASSIGNMENT OF CERTIFICATE OF DEPOSIT
NO. 3536811876
FOR ROAD CUT PERMIT NO. 3563
CONTRACTONE, INC.
WHEREAS, on or about August 21, 2006, the Board of County Commissioners of the
County of Eagle, State of Colorado ("Board") granted Road Cut Permit No. 3563 to construct
within the public way for 2121 Vermont Road to ContractOne (Subdivider); and
WHEREAS, the Subdivider provided collateral in the form of Assignment of Certificate
of Deposit No. 3536811876 issued by First Bank of Avon in the amount of $3,750.00 to
guarantee the faithful completion of the construction project; and
WHEREAS, both the Subdivider and the E!1gineering Department state that the work
required under the Road Cut Permit is satisfactory and the Engineering Department recommends
full release of the collateral (Exhibit "A"); and
WHEREAS, the release of the Assignment of Certificate of Deposit requires termination
of the Assignment by written Resolution of the Board of County Commissioners.
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 fmal release of the collateral and the
Assignment of Certificate of Deposit No. 3536811876 be terminated and that the same be
returned to the Subdivider.
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 August, 2008.
ATTEST:
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
BOARD OF COUNTY COMMISSIONERS
~
--,L.
Clerk to the oard of
County Commissioners
~'-1'- ~,\~_
By:
Commissioner i=-t ~~ seconded adoption of the foregoing resolution. The roll
having been called, the vote was as follows:
This Resolution passed by
sioners of the County of Eagle, State of Colorado.
~ 10
~~
~11~~
Commissioner Runyon
Commissioner Fisher
Commissioner Menconi
vote of the Board of County Commis-
G:\NRW\RESOLUTIONS - POA - LOC\FORMS Final release of coUateraMSSIGNMENT RELEASE of certificate of depositDOC
MEMORANDUM
EAGLECOUNTYENGThffiEIDNG
TO: Nancy Wright, Attorney's Office
FROM: Mike Gruber, Engineering jJ!~/t t5
DATE: August 13,2008
RE: Collateral Release, First Bank of Avon, Assignment of Certificate of Deposit
#3536811876
In the amount of$3,750.00
Construction in the Public Way Permit No. 3563
ContractOne, Inc.
Inspection was made of the work performed under Construction in the Public Way Permit #3563,
2121 Vermont Road, Vail, CO.
The work is satisfactory under the requirements of the permit. Release of the Assignment of
Certificate of Deposit as collateral is recommended.
# # #
EXHIBIT
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ASSIGNMENT OF CERTIFICATE OF DEPOSIT
Contractone, Inc. to Eagle County
TO: FirstBank of Avon
For valuable consideration, receipt of which is hereby
acknowledged, Contractone, Inc. hereby assigns to the County of Eagle,
State of Colorado, an interest in Certificate of Deposit No. 353-681-
1876 to the extent of Three thousand seven hundred and fifty Dollars
($3,750.00), excluding all interest now due or to become due on the
assigned amount. This assignment is given as security for Permit to
Construct Within the Public Way No.~5~3( TBD - for 2121 Vermont Road.)
This Assignment shall be a continuing assignment and shall remain
effective until the Board of County Commissioners, by written
resolution, authorizes the release of the security.
Eagle County may authorize a reduction in the security
represented by this Assignment, by written resolution.
Contractone, Inc. hereby authorizes Eagle County to demand and collect
all or any portion of the deposit to the extent of the assigned account
in accordance with this Assignment, and to issue a receipt for any sums
received there from. Contractone, Inc. hereby directs FirstBank of
Avon to pay to the County, its legal representative, successors or
assigns, upon written demand, the amount so demanded, to the extent of
the assigned amount.
This Assignment shall neither be amended nor terminated without
the consent of all signatories hereto, which shall be in writing.
DONE this 21st day of August, 2006.
BY:
STATE OF COLORADO
ss
COUNTY OF EAGLE
The forgoing was acknowledged before me this ~0day of I\)sust ~CGfb
by ~'(\...i ~ 1'('\ ~()~(\~ . .
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WITNESS my hand and official seal.
My commission expires .~ - 0 l
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APPROVED:
On behalf of Contractone, Inc., I approve the conditions set
forth in this Assignment of Certificate of Deposit, and agree that the
Assignment shall not be terminated without the written authorization of
the Board of County Commissioners of Eagle County, Colorado.
DONE this 21st day of August, 2006.
STATE OF COLORADO
ss
Avon
By:
lL
McDougall
utive Vice President
COUNTY OF EAGLE
~, The forgoing was acknowledged before me this~ day
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WITNESS my hand and official seal.
My commission expires ~ - 0\
by
APPROVED:
County
DATE:
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through its
BOARD OF COUNTY COMMISSIONERS
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B~~
Chairman