HomeMy WebLinkAboutR00-021 final release of collateral for Arrowhead at Vail The Springs1 141 111111111111111111111111111111111111 ai 02/08/2000 03:31P 370 S Fis
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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.
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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
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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
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F: \docs\Memos \arrowhead filing 19 collateral.wpd