HomeMy WebLinkAboutR02-134 final release of collateral for Cordillera Mountain Tract #34Commissioner moved adoption
of the following esolu #ion:
BOARD OF COUNTY COMMISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION NO.2002 -_ZC3!�"
FINAL RELEASE OF COLLATERAL
AND
TERMINATION OF THE WARRANTY PERIOD
FOR
CORDILLERA MOUNTAIN TRACT, FILING 34
WATER TANK
File No: PDF -00029
WHEREAS, on December 21, 1998, Kensington Partners, a Colorado General
Partnership ( "Subdivider ") and the Board of County Commissioners of Eagle County, Colorado
(hereinafter "Board ") entered into a Subdivision Improvements Agreement and a First
Amendment to the Subdivision Improvements Agreement dated December 11, 2002 (hereinafter
"Agreement ") concerning the development of Cordillera Mountain Tract, Filing 34, Water Tank;
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
reconurlends 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 Mountain Tract, Filing
34, Water Tank;
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 Mountain Tract, Filing
34, Water Tank, has been successfully completed and that the Subdivider's obligations under the
11808983 VIIIIIII II�II HVII1II' Iull 10/01/2002 04: 15P
Agreement are complete.
THAT, the Letter of Credit No. S407286/NVS373040 issued by Wells Fargo Bank be
returned.
THAT, Eagle County does not assume responsibility for maintenance or upkeep of the
roads in Cordillera Mountain Tract, Filing 34, Water Tank.
MOVED, READ AND ADOPTED by the Board of County Commissioners of the
County of Eagle, State of Colorado, at its regular meeting held the day of
Seprlrer, 2002.
OC;e.d
ATTEST:nW.p.
Y aq ppd
By: �0
Clerk to the Boar of
County Commissioners
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
BOARD OF COUNTY COMMISSIONERS
Arn`" . ` Menconi
Commissioner
Tom C. I Slone
Commissioner
Commissioner /7;� r seconded adoption of the foregoing resolution. The roll
having been called, vote was as follows:
Commissioner Michael L. Gallagher
Commissioner Arn M. Menconi _
Commissioner Tom C. Stone
This Resolution passed by (3-0 _ vote of the Board of County Commis-
sioners of the County of Eagle, State of Coloradr
80$9$3
GAjkslresolutions\Vinal release cordillera Filing 34 Page: 2 of 3
File No. 87 -84 10/01!
Sara J Fisher Eagle, Co 370 R 0 00 0200000 4,t�P
F
MEMORANDUM
EAGLE COUNTY ENGINEERING
TO: Janice Scofield, Legal Secretary
Eagle County Attorney's Office
FROM: John M. Vengrini-A I/
Engineering Department
DATE: August 27, 2002
RE: "Subdivision and Off-Site Improvements Agreement, Cordillera Mountain Tract, Filing
34, , Water Tank, File No. PDF- 00029 ", Rec. No. 682636, Dated December 21, 1998
On August 26, 2002, I inspected the public improvements covered by the above referenced
Subdivision Improvements Agreement (SIA) as amended by the First Amendment to the SIA dated
December 11, 2000. All of the improvements will have satisfactorily completed the two year
warranty period on August 31, 2002. Therefore, it is my recommendation that the remaining
collateral in the amount of $45,850.00, which is held by Eagle County, be released and that the SIA,
as amended, be terminated.
# 4 #
Pc: Helen MigcheIbrink, County Engineer
Chris Williams; Johnson, Kunkel & Associates, Inc.
John Cahill, Cordillera
Jack Ingstad, County Administrator
George Roussos, Assistant County Administrator
Chrono
File PDF -00029
IR II I��I II III I�I III VIII II 808983 y
Page: 3 of 3
Sara J Fisher Eagle, CO 370 R 0.00 D 0.00