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HomeMy WebLinkAboutR00-098 final release of collateral for Cordillera Filing 23Commissioner moved adoption of the follo4dng Resolution: BOARD OF COUNTY COMMISSIONERS COUNTY OF EAGLE, STATE OF COLORADO RESOLUTION NO. 2000 - _4?t FINAL RELEASE OF COLLATERAL AND TERMINATION OF THE WARRANTY PERIOD FOR CORDILLERA SUBDIVISION, FILING 23 WHEREAS, on April 13, 1996, Stag Gulch Partners ( "Subdivider ") and the Board of County Commissioners of Eagle County, Colorado (hereinafter "Board ") entered into a Subdivisions Improvements Agreement (hereinafter "Agreement ") concerning the development of Cordillera Subdivision, Filing 23; WHEREAS, by Eagle County Consent No. 98 -05, the County commenced the warranty period for Filing 23, said warranty period to expire March 12, 2000; 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 Improvements Agreement, see Exhibit "A ", attached hereto and incorporated herein by this reference. 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. WHEREAS, the warranty period required by the Subdivision Improvements Agreement has ended. 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 Cordillera Subdivision, Filing 23. THAT, this document shall be recorded in the Records of the Eagle County Clerk and Recorder, which shall be evidence that the C'� i warranty period for Cordillera Subdivision, Filing 23 has been successfully completed and that the Subdivider's obligations under the Agreement are complete. THAT, the Letter of Credit No. 407278 issued by Norwest Bank be returned. THAT, Eagle County does not assume responsibility for maintenance or upkeep of the roads in Cordillera Subdivision Filing 23. MOVED, READ AND ADOPTED by the Board of County Commissioners of the County of Eagle, Sta of Colorado, at its regular meeting held the day o 2000. COUNTY OF EAGLE, STATE OF COLORADO, By and Through Its ATTEST: BOARD OF COUNTY COMMISSIONERS By . er to thevBoa Tom C. Stone County Commissioners Chairman Commissioner Commissioner Commissioner e& 1 44 seconded adoption of the foregoing resolution. The roll having been called, the vote was as follows: Commissioner Tom C. Stone Commissioner Michael C. Gallaghe Commissioner Johnnette Phillips This Resolution passed by 3 •0 vote of the Board of County Commissioners of the County of Eagle, State of Colorado. G:\Jackie\Forms\Final Collateral \Cordillera Filing 23 MEMORANDUM c EAGLE COUNTY ENGINEERING TO: Nancy Lewis / Attorney's Office FROM: Mike Gruber / Engineering DATE: June 2, 2000 RE: Cordillera Filing 23, Final Collateral Release, Termination of SIA Formal request to close out the SIA for this filing was submitted by the engineer for the developer along with the required utility witness drawings on May 25, 2000. Inspection was performed on May 2,2000 after the completion date of the warranty period as determined by Consent No. 98 -05. The improvements are complete, having survived the two year warranty and are acceptable per the terms and conditions of the SIA. These improvements entail the construction of utility infrastructure and private roadways. County maintenance is not required for these roadways. Release of collateral and termination of the SIA is recommended. CC: Helen Migchelbrink, County Engineer Chrono /File Io E Lw z .. EAGLE COUNTYAtTpPNE I F v... „Y...0 _ EXHIBIT