HomeMy WebLinkAboutR02-113 Final Release of collateral for Cordillera Filing 16Commissioner moved adoption
of the ollowing Resolution:
BOARD OF COUNTY COMMISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION NO. 2002 -c�
FINAL RELEASE OF COLLATERAL
AND
TERMINATION OF THE WARRANTY PERIOD
FOR
CORDILLERA FILING ] 6
PD- 293- 94-F5
WHEREAS, on August 15, 1994, Kensington Partners formerly known as Kensington
Land Investment 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 Filing 16; 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 Filing 16;
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 Filingl6 has been
successfully completed and that the Subdivider's obligations under the Agreement are complete.
THAT, the Letter of Credit No. NVS373167 issued by Wells Fargo Bank be returned.
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THAT, Eagle County does not assume responsibility for maintenance or upkeep of the
roads in Cordillera Subdivision Filing 16.
MOVED, READ AND ADOPTED by the Board of County Commissioners of the
County of Eagle, State of Colorado, at its regular meeting held the o77-Ck..z day of August,
2002.
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
ATTEST: BOARD OF COUNTY COMMISSIONERS
Clerk to the Boa "rd of
County Commissioners
IN
Menconi
Commissioner
<7�0_ A7,x,
Tom Stone
Commissioner
Commissioner seconded adoption of the foregoing resolution. The roll
having been called, the vote was as follows:
Commissioner Michael L. Gallagher
Commissioner Am M. Menconi
Al
Commissioner Tom C. Stone
This Resolution passed by (5-0 vote of the Board of County Commis-
sioners of the County of Eagle, State of Colorado.
GAjkslresolutionsllfinal release cordillera Filing 16
File No. 57 -84
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Sara J
TO:
FROM:
DATE:
RE:
MEMORANDUM
EAGLE COUNTY ENGINEERING
�pf
Janice Scofield, County Attorney's Office
Mike Gruber, Engineering
July 31, 2002
Cordillera, Filing 16, Final Release of Collateral and Termination of the Warranty
Period
John Cahill, Cordillera, requested inspection of the public improvements for Cordillera, Filing 16
on June 6, 2002. I inspected the work on June 26, 2002, and required that certain repairs be made
before the collateral could be released and the Subdivision Improvements Agreement terminated.
In a letter dated July 19, 2002, Mr. Cahill indicated that the corrections had been made and requested
a reinspection. Reinspection was conducted and it was determined that all required corrections had
been satisfactorily made.
I recommend that the remaining collateral in the amount of $99,936.84 be released and the
Subdivision Improvements Agreement for Cordillera, Filing 16 be terminated.
xc: Helen Migchelbrink, County Engineer
John Cahill, Cordillera
Chrono /file
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Page: 3 of 3
80693800.,
Sara J Fisher Eagle. CO 370 R 0.00 D 0AW
EXHIBIT
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