HomeMy WebLinkAboutR10-056 Siloan Springs Development Final Release
Commissioner ~ moved adoption
of the following Resolution:
BOARD OF COUNTY COMMISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION N0.2010- '
FINAL RELEASE OF COLLATERAL
AND
TERMINATION OF THE WARRANTY PERIOD
FOR
SILOAM SPRINGS DEVELOPMENT
RICHARD L. MAYNE AND LUANNE MAYNE
WHEREAS, on or about October 3, 2006, the Board of County Commissioners of the
County of Eagle, State of Colorado ("Board"j entered into a Subdivision and Off-site
Improvements Agreement with Richard L. Mayne and Luanne Mayne ("Subdivider") as a
condition of final plat approval for Siloam Springs Development; and
WHEREAS, pursuant to the Agreement, the Subdivider provided collateral in the form
of Alpine Bank Letter of Credit No. 0360214133 in the amount of $21,087.38; and
WHEREAS, the Engineering Department states the improvements are complete, have
survived the two-year warranty period and are acceptable per the terms and conditions of the
Subdivision Improvements Agreement; 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, as secured by the Letter of Credit, and the termination
of the Subdivision Improvements Agreement, see Exhibit "A", attached hereto and incorporated
herein by this reference.
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 Engineer and
County Attorney, 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 the Letter of Credit and
the termination of the Subdivision and Off-Site Improvements Agreement for Siloam Springs
Development.
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 Siloam Springs Development has
been successfully completed and that the Subdivider's obligations under the Agreement are
complete.
MOVED, READ AND ADOPTED by the Board of Count~ommissioners of the
County of Eagle, State of Colorado, at its regular meeting held the ~7 day of May, 2010.
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
ATTEST: BOARD OF COUNTY COMMISSIONERS
County Commissioners
Commissioner
Commissioner seconded adoption of the foregoing resolution. The roll
having been called, the vote was ollows:
Commissioner Fisher
Commissioner Stavney
Commissioner Runyon
This Resolution passed by /~
the County of Eagle, State of Colorado.
y: ~-
Sara J. Fis er /I ,
vote of the Board of County Commissioners of
nrw\resolutions\siloam springs
MEMORANDUM
TO: Nancy Wright, Attorney's Office
FROM: Greg Schroeder, Engineering Department ~~
DATE: Wednesday, May 12, 2010
FILE #: PDF-00096
RE: Siloam Springs -Final Collateral Release and Termination of Warranty
Nancy,
On Tuesday, May 11, 2010, I performed a site visit with the applicant. Based on my
observations of the site, all of the improvements appear to be in conformance with the
SIA.
Please release the letter of credit in the amount of $21,087.38; also terminate the
warranty.
Please contact me if you have any additional questions.
# # #
cc: Eva Wilson, County Engineer
G1DedelcpmentiCcllateral-SIA!Sllcam Spnng=!20100512 _MEMORANDUM1idoc EXHIBIT
a
s