HomeMy WebLinkAboutR02-097 final release of collateral for Cordillera Filing 18In
Commissioner &221 moved adoption
of the following Resolution:
BOARD OF COUNTY COMMISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION NO. 2002- O�
FINAL RELEASE OF COLLATERAL
AND
TERMINATION OF THE WARRANTY PERIOD
FOR
CORDILLERA SUBDIVISION, FILING 18
File No. PDA- 293 -24 -F6
WHEREAS, on October 4, 1994, Stag Gulch Partners ( "Subdivider ") and the Board of
County Commissioners ofEagle County, Colorado (hereinafter "Board") entered into a Subdivisions
Improvements Agreement (hereinafter "Agreement ") concerning the development of Cordillera
Subdivision, Filing 18;
WHEREAS, by Eagle County Consent No. 2000 -08, the County commenced the warranty
period for Filing 18, said warranty period to expire .Tune 21, 2002; 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 warrantyperiod 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 18.
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 Cordillera Subdivision, Filing 18 has
been successfully completed and that the Subdivider's obligations under the Agreement are
complete.
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Sara J risher Eagle, CO 370 0.00 D 0.00
THAT, the Letter of Credit No. S407283 Amendment No. 4 issued by Wells Fargo Bank be
returned.
THAT, Eagle County does not assume responsibility for maintenance or upkeep of the roads
in Cordillera Subdivision Filing 18.
MOVED, READ AND ADOPTED by the Board of County Commissio of the County
of Eagle:, State of Colorado, at its regular meeting held the Q day of , 2002.
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
ATTEST: BOARD OF COUNTY COMMISSIONERS
County Commissioners
r
0117-67049
Commissioner
Commissioner seconded adoption of the foregoing resolution. The roll
having been called, the vote was as follows:
Commissioner Michael L. Gallagher
Commissioner Tom C. Stone
Commissioner Am M. Menconi
This Resolution passed by j - D- vote of the Board of County Commis-
sioners of the County of Eagle, State of Colorado.
File No. 87 -84
&TaralegahConsentTinal CollateraKordillera Filing 18.wpd 81032 16
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W
MEMORANDUM
EAGLE COUNTY ENGINEERING
TO: Bruce Strasinger, Attorney's Office
FROM: Mike Gruber / Engineering
DATE: June 25, 2002
RE: Cordillera Filing 18, Final Collateral Release, Termination of SIA
f
Formal request for inspection for this filing was submitted by Mr. Cahill/ Director of Construction,
Cordillera in a letter to Helen Migchelbrink, County Engineer dated June 6, 2002.
Inspection was conducted after the completion date of the warranty period as determined by Consent
No. 2000 -08. The improvements are complete, having survived the two year warranty and are
acceptable per the terms and conditions of the SIA. I recommend termination of the SIA and final
release of the collateral in the amount of $95,456.18 which represents the 10% being retained until
successful completion of the warranty period.
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.
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Sara J Fisher Eagle: CO 370 R 0.00 D 0.00
Helen Migchelbrink, County Engineer
Chrono/File
EXH1 IT