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HomeMy WebLinkAboutR00-021 final release of collateral for Arrowhead at Vail The Springs1 141 111111111111111111111111111111111111 ai 02/08/2000 03:31P 370 S Fis 1 of 3 R 0.00 D 0.00 N 0.00 Ea91a C0 Commissioner moved adoption of the following Resolution: BOARD OF COUNTY COMMISSIONERS COUNTY OF EAGLE, STATE OF COLORADO RESOLUTION NO. 2000 - FINAL RELEASE OF COLLATERAL AND TERMINATION OF THE SUBDIVISION IMPROVEMENTS AGREEMENT FOR ARROWHEAD AT VAIL, FILING 19 THE SPRINGS WHEREAS„ pursuant to C.R.S. §30 -28 -137, the Board of County Commissioners of the County of Eagle,'State of Colorado ( "County ") entered into a Subdivision Improvements Agreement dated May 2, 1995 ( "Agree<<:ent") with Vail Arrowhead, Inc., a Colorado corporation ( "Subdi rider") as a condition of the County's final plat approval for Arrowhead at Vail, Filing 19; 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 Improve- ments Agreement as stated in Exhibit "A ", attached hereto and incorporated herein by this reference; and WHEREAS," 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. 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 final release of collateral and the termination of the Subdivision Improvements Agreement for Arrowhead at Vail, Filing 19. THAT, the Letter of Credit No. S801373 issued by Norwest Banks of Colorado in the amount of $16,572.72, which represents ten percent (10 %) of the original cost estimate, be terminated. r I >' THAT, this document shall be recorded in the Records of the Eagle County Clerk and Recorder, which shall be evidence that the termination of the Agreement for Arrowhead at Vail, Filing 19, has been successfully completed and that the Subdivider's obligations under the Agreement are complete. MOVED, READ AND ADOPTED by the Board of County Commissioners of the County of Eagle, Mate of Colorado, at its regular meeting held the /aft day of 2000. COUNTY OF EAGLE, STATE OF se COLORADO By and Through Its ATTEST:�a BOARD OF COUNTY COMMISSIONERS By: Cl erk f-0 Board of Tom C. Stone County Commissioners Chairman mes E. Jo n, Jr. ommission r 4 Johnnette Phi lips ioner Commissioner seconded adoption of the foregoing resolutijX. The roll having been called, the vote was as follows: Commissioner Tom C. Stone Commissioner James E. Johnson, Jr. " Commissioner Johnnette Phillips This Resolution passed by 3 'Q vote of the Board of County Commissioners of the County of Eagle, State of Colorado. #82 -236 kaw \r \arrowl9.fin MEMORANDUM C11 EAGLE COUNTY ENGINEERING TO: Nancy Lewis County Attorney's Office n ►v l FROM: Helen Migchelbrink O Engineering Department DATE: October 14, 1999 RE: Arrowhead Filing 19, "The Springs ", Completion of Warranty Period On October 14, 1999, I conducted an inspection of Arrowhead Filing 3. All improvements included in the S.I.A. have been completed and successfully survived the warranty period. I recommend the release of the $16,572.72 collateral. The warranty period should end with this release. Pc: George Roussos Chrono /file r F: \docs\Memos \arrowhead filing 19 collateral.wpd