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Home My WebLink About20122093.tiff RESOLUTION RE: APPROVE PARTIAL CANCELLATION AND RELEASE OF COLLATERAL FOR PLANNED UNIT DEVELOPMENT FINAL PLAN, PF #600 - JZM, LLC, C/O JOHN AND MARY ZADEL WHEREAS, the Board of County Commissioners of Weld County, Colorado, pursuant to Colorado statute and the Weld County Home Rule Charter, is vested with the authority of administering the affairs of Weld County, Colorado, and WHEREAS, by Resolution dated March 7, 2007, the Board approved the application of JZM, LLC, do John and Mary Zadel, 4200 County Road 19, Fort Lupton, Colorado 80621, for nine (9) lots with E (Estate) Zone uses, one (1) common open space outlot, and continuing oil and gas production on the following described real estate, to wit: Part of the S1/2 of Section 10, Township 1 North, Range 67 West of the 6th P.M., Weld County, Colorado, and WHEREAS, on February 11, 2008, the Board of County Commissioners of Weld County, Colorado, approved an Improvements Agreement According to Policy Regarding Collateral for Improvements (Private Road Maintenance) for Distant Thunder PUD, between the County of Weld, State of Colorado, by and through the Board of County Commissioners of Weld County, and JZM, LLC, do John and Mary Zadel, with terms and conditions being as stated in said agreement, and accepted Subdivision Bond No. 6447503, drawn on the First National Insurance Company of America, Safeco Plaza, Seattle, Washington 98185, in the amount of $126,752.00, and WHEREAS, staff from the Weld County Departments of Planning Services and Public Works have conducted a visual inspection and recommend partial release of said collateral, in the amount of $114,602.00. WHEREAS, the Board has been presented with replacement collateral in the form of Irrevocable Letter of Credit No. 1310005742, drawn on the Bank of Colorado, 111 South Rollie Avenue, Fort Lupton, Colorado, in the amount of $12,150.00, for the installation of the mail kiosk, electrical lines and telephone lines. NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld County, Colorado, that Subdivision Bond No. 6447503, drawn on the First National Insurance Company of America, Safeco Plaza, Seattle, Washington 98185, in the amount of $126,752.00, be, and hereby is, canceled and released, and replacement collateral in the form of Irrevocable Standby Letter of Credit No. 1310005742, in the amount of $12,150.00 be accepted. BE IT FURTHER RESOLVED by the Board that the Clerk to the Board be, and hereby is, directed to return said collateral to the appropriate issuing party. LL/ `�/ 3879414 Pages: 1 of 2 � 10/09/2012 11:50 All R Fee:$0.00 c)--/ •- )G/°7 Steve Moreno. Clerk and Recorder. Weld County, Co VIII F�'+�W�Yw'� I�1 4hb' Ill �+�� trfil A'tL AIN Mil 11111 2012-2093 PL1719 CANCEL COLLATERAL- JZM, LLC, C/O JOHN AND MARY ZADEL PAGE 2 The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 8th day of August, A.D., 2012. BOARD OF COUNTY COMMISSIONERS WELD COUNTY, COLORADO ATTEST: 75 • �. �� ICI. _ _ a lean P. Tway, Chair Weld County Clerk to the B.: d � ; -'( / , (?�. ,i 1161 � ,�b �Ai %r;k; liam F. Garcia, Pro-Tern BY: / / nIt , -r ,�';. Deputy Cler to the Board XCUS-�Barbara Kirkmeyer ED APP D M: EXCUSED David E. Long County Attorney H-- cu`J/G3`�— 6;, ,_a__4Douglas ademacher Date of signature: S x/07 3879414 Pages: 2 of 2 10/09/2012 11 :50 e R Fee $0.00 Steve Moreno. Clerk and Reoortler. Weld County. CO VIII mi Ittµdeilf'Ifr4 IA; IitU,MR littlifil I*b'IN 1 !I III 2012-2093 PL1719 MEMORANDUM '41/ x� �! , UPI r r TO: Board of County Commissioners caul?" DATE: July 26, 2012 FROM: Michelle Martin SUBJECT: PF-600 Revised of Letter of Credit#1310005742 The Department of Planning Services received a letter from the applicant Mary Zadel with JZM LLC dated 1/10/2012 indicating they would like to switch the subdivision bond (Policy number 6447503) with a letter of credit#1310005742. A site inspection was conducted by the Weld County Department of Public Works and the Planning Department indicating most of the improvements had been completed. It was determined the following items still need to be completed: the installation of the mail kiosk, electrical lines and telephone lines. The Department of Planning Services is recommending revising the letter of credit in the amount of$12,150.00 for the installation of the mail kiosk, electrical lines and telephone lines. After review of the collateral by the Weld County Attorney, the Department of Public Works and Department of Planning Services, it has been determined that the amount of the agreement will be sufficient to complete the on-site improvements required for PF-600. Background Information BOCC: PF-600 was approved by the Board of County Commissioners on March 7, 2007 for a PUD Final Plat for nine (9) lots with (E) Estate uses and one (1) common open space non-buildable outlot (48.63 acres), and continuing Oil and Gas Production Uses, Distant Thunder PUD. The original subdivision Bond 6447503 was accepted by the BOCC on February 11, 2008 in the amount of$126,752.00, for the on-site improvements. Location: East of and adjacent to County Road 19 and approximately'/2 mile south of County Road 12 • 2012-2093 MEMORANDUM TO: Michelle Martin, Planning Services G✓irej DATE: 03/22/12 FROM: Nick Marquez, Public Works Department SUBJECT: Full Release of Collateral JZM, LLC (John and Mary Zadel) (PL1719 #2008-0516) PF #600 Imps. Agrmt Private) Request for Full Release of Collateral: The Department of Planning Services received a request from the applicant, John Zadel, requesting an inspection of the property in order to obtain the final release of collateral, for the Distant Thunder Subdivision, located on WCR 19, south of Hwy 52. Following completion of Punch List items, Weld County Public Works Department performed a site inspection, at the above mentioned site, and observed the following: • All Public Works related items on Exhibit A, of the Improvements Agreement According To Policy Regarding Collateral For Improvements (Private Road Maintenance) Document #2008-0516, have been completed and are found to be acceptable. Weld County Collateral List: JZM, LLC (John and Mary Zadel) ( #2008-0516) PF #600 Imps. Agrmt (Private) Subdivision Bond #6447503 from First National Insurance Company of America No Expiration Listed $126,752.00 Recommendation: The Department of Public Works is recommending a full release of collateral, as shown above from the Weld County Collateral List, in the amount of$126,752.00. pc: Dave Bauer,Weld County Public Works Don Carroll,Weld County Public Works Josh Holbrook,Weld County Public Works C:\Documents and Settings\mmartin\Local Settings\Temporary Internet Files\Content.Outlook\PJB0GSW0\Full Collateral Release 032212 (Distant Thunder PL I 719)-MEMO.docx Bank of Colorado < , IRREVOZPArinSaneLETTER OF CREDIT FOR BOARD OF COUNTY COMMISSIONERS OF WELD COUNTY, COLORADO April 13, 2012 Beneficiary: BOARD OF COUNTY COMMISSIONERS OF WELD COUNTY, COLORADO 1150 "O" Street Greeley, Colorado 80631 Attn: Clerk to the Board g JZM, LLC 1 -11 i 4200 County Road 19 1 2P¢ Fort Lupton, Colorado 80621 By. Ladies and Gentlemen: C Effective immediately, at the request of and on behalf of JZM, LLC, we hereby issue this Irrevocable Letter of Credit#1310005742 for Twelve Thousand One Hundred Fifty and No/100 Dollars ($12,150.00) in favor of the Board of County Commissioners of Weld County, Colorado, (hereinafter`Beneficiary"). This Letter of Credit is issued to permit JZM, LLC, to meet the requirements of the "Improvements Agreement According to Policy Regarding Collateral for Improvements" for Distant Thunder PUC. PF-600, dated February 11, 2008, (hereinafter "Improvements Agreement"). This amount may be drawn on at our office located at 111 S. Rollie Avenue, Fort Lupton, Colorado 80621. We hereby undertake to honor your sight draft drawn on us bearing upon its face the clause: "Drawn under the Bank of Colorado, Letter of Credit Number 1310005742 , dated April 13, 2012", when accompanied by the following: 1. The original of this Letter of Credit and any subsequent amendments, if any; and 2. Original of Beneficiary's statement purportedly manually signed by a member of the Board of County Commissioners of Weld County, Colorado stating one or more of the following: a. "The Board of County Commissioners of Weld County, Colorado hereby certifies that it is entitled to draw US Dollars (Written Amount of Withdrawal) ($ ) under the Bank of Colorado, Letter of Credit Number 1310005742, dated April 13, 2012, because JZM, LLC has defaulted on its obligations under the "Improvements Agreement According to Policy Regarding Collateral for Improvements" dated February 11, 2008, by (State Nature of Default)". b. "The Board of County Commissioners of Weld County, Colorado hereby certifies that it is entitled to draw US Dollars (Written Amount of Withdrawal) G Member FDIC www.bankofcolorado.com 111 South Rollie Avenue Fort Lupton,CO 80621 303.857.3400 303.857.3401 fax ($ ) under Bank of Colorado, Letter of Credit Number 1310005742 dated April 13, 2012, because JZM, LLC has not, to the satisfaction of the Board of County Commissioners of Weld County, Colorado, within sixty (60) days of the expiration date of this Letter of Credit, replaced or renewed this Letter of Credit." The above statements are acceptable if presented in the form of a Resolution formally adopted by the Board of County Commissioners of Weld County, Colorado. Additionally, a copy of one or both of the above statements may be submitted by facsimile transmission or by electronic mail, if said transmission source can be verified by us. 3. It is a condition of this Irrevocable Letter of Credit that it be considered automatically extended without amendment for additional periods of one year from the present or any future expiration date unless we notify you, the Beneficiary, in writing, not less than ninety (90) days before such date that we elect not to extend this Letter of Credit for such additional term. This notice will be set to the address herein sent by certified mail, return receipt requested. Upon your receipt of said notice, you may draw on us at sight for the balance remaining under this Letter of Credit within the then applicable expiration date. 4. Partial drawings under this Letter of Credit are permitted. 5. For purposes of the Letter of Credit, JZM, LLC shall be deemed in default if one or more of its obligations under the "Improvements Agreement According to Policy Regarding Collateral for Improvements" dated February 11, 2008, is/are not met within the time frame(s) set forth in said Improvements Agreement. 6. This Credit shall be transferable, as directed by an authorized representative of the Board of County Commissioners of Weld County, Colorado, in compliance with Article 48 of UPC 500. We hereby promise you that a draft drawn under and in compliance with the terms and conditions of this Letter of Credit will be duly honored by us if presented at this office or by registered mail on or before the current expiration date, currently January 10, 2013, or any future applicable expiration date as described herein. Draft presentation before 10:00 a.m. Mountain Standard Time on any Business Day shall be honored before 5:00 p.m. on the same Business Day by wire transfer in immediately available funds to any account designated by an authorized representative of Board of County Commissioners of Weld County, Colorado, (or any other reasonable means specified by said authorized representative). Draft presentation between 10:00 a.m. and 5:00 p.m. Mountain Standard Time on any Business Day shall be honored before 5:00 p.m. on the following Business Day by wire transfer in immediately available funds to any account designated by an authorized representative of Board of County Commissioners of Weld County, Colorado, (or any other reasonable means specified by said authorized representative). As used in this Credit, the term "Business Day" shall mean a day other than Saturday or Sunday or any day in which Banking Institutions in the State of Colorado are authorized or required by law to close. This Letter of Credit sets forth in full the terms of our undertaking, and such undertaking shall not in any way be modified, amended, amplified or limited by reference to any document, instrument or agreement referred to herein or to which this Letter of Credit relates. Except to the extent terms hereof are inconsistent with its provisions, in which case this Letter of Credit shall govern, this Letter of Credit is subject to the Uniform Customs and Practice for Documentary Credits (1993 Revision), the International Chamber of Commerce Publication No. 500. Yours truly, David S. Evens Donald D. Tomoi Vice President President Bank of Colorado Bank of Colorado 111 S. Rollie Avenue 111 S. Rollie Avenue Fort Lupton, CO 80621 Fort Lupton, CO 80621 303-857-3400 303-857-3400 303-857-3401 303-857-3401 Fi. Lu ton,% A 40. Fort Lupton Fire (Protection 1D1strict /4a1121 DenverAve. 'Etnergertc v 911 4 • 'Fort Cuptot,, CO 80621 Office 303-857460.; �RE DI? 'Fa_v. 303-857-6619 11(: 11, October 13, 2011 RE: Newly Installed Fire Hydrants Chris Zadel Northern Colorado Constructors 9075 CR 10 Fort Lupton, Co. 80621 970-539-8328 Mr. Zadel: This letter is being sent as proof that the newly installed fire hydrants located in the subdivision north of 4200 CR 10 have been tested for flows by the Fort Lupton Fire Protection District on October 2, 2010 and have been accepted based on the results of these flow tests. These hydrants were tested and shown to flow at least 500 gallons per minute which satisfies the requirements for the Fort Lupton Fire Protection District at this time. If you have any questions regarding these findings please contact me at your earliest convenience. Sincerely. Greg McGinn Fire Prevention Services Captain Our Objective "(Elimination of Hazards" 4:7%7:1 CENTRAL WELD COUNTY WATER DISTRICT i•etbiu'.ir•.! 2.3. 2011 Northern(Colorado Constluetors. Inc Att John M. Lade! yt?75 \ CR 10 Fort l.upton.CO 8062 Distant thunder r Waterline Project Ik:ir Mr/Adel: I he ltrolect conii:xtin4: the [)ist n t Thunder subdi‘iaion into the ( \\CW I) system with an )' DIP 't'ii`: completed Mid [1eCc111hef U: 2')11)per C :\'('\ 'l) ! iivards. f.)n successii.11h' passing the"R c' s ee- tesi by Weld C'ot,rfT I lealth tkparirne!it. Distant !hunter etas placed into senite. CENTRAL WELL)COUNTY WATER Dm RI( 1' . ..cl;:;;.. !:tltli•.:ti:il �.'.�if _F r-it;111::: 11.,- '235 "nd Avenue • Greele .Colorado 80631 • Phone(970)352-128.1 • tax(970)353-3)4)5 John W.Zadel.General Manager Michelle Martin From: Stephanie Arries Sent: Thursday, July 26, 2012 9:37 AM To: Michelle Martin Subject: RE: letter of credit I reviewed the Letter of Credit and it looks fine— Have a great day! Stephanie L. Arries Assistant Weld County Attorney 1150 "O" Street P.O. Box 758 Greeley, Colorado 80632 Tel: 970-356-4000 ext 4394 Fax: 970-352-0242 Email: sarriesco.weld.co.us } • ri j STATEMENT OF CONFIDENTIALITY & DISCLAIMER: The information contained in this email message is attorney privileged and confidential, intended only for the use of the individual or entity named above. If the reader of this message is not the intended recipient, you are hereby notified that any dissemination, distribution or copy of this email is strictly prohibited. If you have received this email in error, please notify us immediately by replying and delete the message. Thank you. From: Michelle Martin Sent: Thursday, July 26, 2012 8:53 AM To: Stephanie Arries Subject: letter of credit Hi Stephanie, Back in May you reviewed a letter of credit for 1ZM but the letter did not meet the county standards. The applicant is resubmitting a new letter of credit which hopefully will now meet the county standards. Could you please let me know if this letter of credit is sufficient and can be presented to the BOCC,thanks. Michelle Martin Planner III 1555 N 17th Ave Greeley, CO 80631 mmartin@co.weld.co.us PHONE: (970)353-6100 x 3540 FAX: (970)304-6498 1 1861 - 2011 TI CLERK TO THE BOARD PHONE (970) 336-7215, Ext. 4227 FAX: (970) 352-0242 P. O. BOX 758 O U N T Y GREELEY, COLORADO 80632 August 16, 2012 Attn: Tammy Sack Liberty Mutual Insurance RE: Cancellation and release of Collateral —JZM, LLC, do John and Mary Zadel Ms. Sack: Attached hereto, please find the Board of County Commissioners Resolution releasing the Collateral for JZM, LLC, do John and Mary Zadel, in the amount of $126,752.00. If you would like a recorded copy of the resolution, please contact our Clerk and Recorders Office at 970- 304-6530. I am e-mailing a copy of the original Subdivision Bond #6447503 to you. If you have questions or need additional information, please do not hesitate to contact me at (970) 336-7215, Extension 4227. Very truly yours, BOARD OF COUNTY COMMISSIONERS 2c. By: tazd AZ_ Donna J. Bee ler, Deputy Clerk to the Board AS G° e(, ^o ya as ti°.O% o % • SUBDIVISION BOND a Go Bond No. 6447503 451 i6 ti KNOW ALL MEN BY THESE PRESENTS,that we JZM,LLC �a4J as Principal,and First National Insurance Company of America authorized to do business in the State of Washington ,as Surety,are held and firmly bound unto Board of County Commissioners,County of Weld, State of Colorado as Obligee, in the penal sum of One Hundred Twenty Six Thousand,Seven Hundred Fifty Two and no/100 ($ $126,752.00 ) DOLLARS,lawful money of the United States of America, for the payment of which well and truly to be made, we bind ourselves, our heirs, executors, administrators, successors and assigns,jointly and severally,firmly by these presents. WHEREAS, JZM,LLC has agreed to construct in Distant Thunder P.U.D. PF600 the following improvements: As detailed in EXHIBIT"A"and EXHIBIT"B"of the Improvements Agreement NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION IS SUCH, that if the said Principal shall construct, or have constructed, the improvements herein described and shall save the Obligee harmless from any loss, cost or damage by reason of its failure to complete said work, then this obligation shall be null and void; otherwise to remain in full force and effect. Signed,sealed and dated this 9th day of January , 2008 JZM, LLC Principal • By: /.7 ✓ ,a l�. ��iyll First National ttsurance Company of America tutko + Penny R. Burkard,Attorney-in-Fact S-3689/GE 2/98 XOP POWER First National Insurance Company of America CO n Safeco Plaza OF ATTORNEY Seattle,WA 98185 No. 9031 KNOW ALL BY THESE PRESENTS: That FIRST NATIONAL INSURANCE COMPANY OF AMERICA,a Washington corporation,does hereby appoint ******WILLIAM C.BENSLER;DONALD B.MARTIN;CONNIE K.BOSTON;KELLY T.URWILLER;PENNY R.BURKARD; VALERIE PARTRIDGE;Greeley,Colorado;CHRIS S.RICHMOND;DARLENE KRINGS;RUSSELL MICHELS;DIANE CLEMENTSON;Fort Collins,Colorado************************************************************************* its true and lawful attorney(s)-in-fact, with full authority to execute on behalf of the company fidelity and surety bonds or undertakings and other documents of a similar character issued by the company in the course of its business, and to bind FIRST NATIONAL INSURANCE COMPANY OF AMERICA thereby as fully as if such instruments had been duly executed by its regularly elected officers at its home office. IN WITNESS WHEREOF,FIRST NATIONAL INSURANCE COMPANY OF AMERICA has executed and attested these presents this 21st day of September 2006 STEPHANIE DALEY-WATSON,SECRETARY TIM MIKOLAJEWSKI,SENIOR VICE-PRESIDENT,SURETY CERTIFICATE Extract from the By-Laws of FIRST NATIONAL INSURANCE COMPANY OF AMERICA: "Article V, Section 13. - FIDELITY AND SURETY BONDS ... the President, any Vice President, the Secretary, and any Assistant Vice President appointed for that purpose by the officer in charge of surety operations, shall each have authority to appoint individuals as attorneys-in-fact or under other appropriate titles with authority to execute on behalf of the company fidelity and surety bonds and other documents of similar character issued by the company in the course of its business...On any instrument making or evidencing such appointment,the signatures may be affixed by facsimile.On any instrument conferring such authority or on any bond or undertaking of the company, the seal, or a facsimile thereof, may be impressed or affixed or in any other manner reproduced; provided,however,that the seal shall not be necessary to the validity of any such instrument or undertaking." Extract from a Resolution of the Board of Directors of FIRST NATIONAL INSURANCE COMPANY OF AMERICA adopted July 28,1970. "On any certificate executed by the Secretary or an assistant secretary of the Company setting out, (i) The provisions of Article V,Section 13 of the By-Laws,and (ii) A copy of the power-of-attorney appointment,executed pursuant thereto,and (iii) Certifying that said power-of-attorney appointment is in full force and effect, the signature of the certifying officer may be by facsimile,and the seal of the Company may be a facsimile thereof." I,Stephanie Daley-Watson ,Secretary of FIRST NATIONAL INSURANCE COMPANY OF AMERICA,do hereby certify that the foregoing extracts of the By-Laws and of a Resolution of the Board of Directors of this corporation, and of a Power of Attorney issued pursuant thereto, are true and correct, and that both the By-Laws,the Resolution and the Power of Attorney are still in full force and effect. IN WITNESS WHEREOF,I have hereunto set my hand and affixed the facsimile seal of said corporation ^1 this qn T� day o/ .�a1�4.A Py Kfinic cAgAllEr ati e /41PALW-4-1•e1-14(O---". SEAL r. �r1928 ^' ; STEPHANIE DALEY-WATSON,SECRETARY + S-1049/CIF 4/05 • • Safecoo and the Salem logo are registered trademarks of Safeco Corporation. WEB PDF Donna Bechler From: Sack, Tammy [Tammy.Sack@LibertyMutual.com] Sent: Thursday, August 16, 2012 9:51 AM To: Donna Bechler Subject: RE: Release of Collateral for JZM, LLC, do John and Mary Zadel Donna We do not need the originals returned to us by mail, what you emailed over is sufficient. Thank You Tammy Tammy Sack Underwriting Assistant Liberty Mutual Surety 14123 Denver West Parkway Golden, CO 80401 P-720.497.9584 NOTE: The information contained in this transmission, including any attachment(s) is only for the use of the intended individual(s) or entity, and may contain information that is privileged and confidential. If the reader of this message is not an intended recipient, you are hereby notified that any dissemination, distribution, disclosure, or copying of this information is unauthorized and strictly prohibited. If you have received this communication in error, please contact the sender immediately by reply email and destroy all copies of the original message From: Donna Bechler [mailto:dbechler©co.weld.co.us] Sent: Thursday, August 16, 2012 9:24 AM To: Sack, Tammy Subject: Release of Collateral for JZM, LLC, c/o John and Mary Zadel Tammy, I am e-mailing a copy of the letter, resolution, and the original Subdivision Bond to you per your phone request on 8/16/2012. Please let me know if you need any additional information. Could you also e-mail me a return response indicating you do not need to have the original Subdivision Bond returned, but that the e-mail is sufficient. Thank you. Donna Bechler Donna Bechler Deputy Clerk to the Board 1150 O Street P.O. Box 758 Greeley, Colorado 80632 970-336-7215 Ext 4227 1 1861 - 2011 CLERK TO THE BOARD PHONE (970) 336-7215, Ext. 4227 i FM: (970) 352-0242 P. O. BOX 758 W E L DEC O U N T Y GREELEY, COLORADO 80632 August 16, 2012 Attn: JZM, LLC do John and Mary Zadel 4200 County Road 19 Fort Lupton, Colorado 80621 RE: Cancellation and release of Collateral — JZM, LLC, c/o John and Mary Zadel John and Mary: Attached hereto, please find the Board of County Commissioners Resolution partially releasing the Collateral for JZM, LLC, from First National Insurance Company of America, Subdivision Bond #6447503, in the amount of $126,752.00, and accepting replacement collateral in the form of Irrevocable Letter of Credit No 1310005742, drawn on the Bank of Colorado for $12,150.00. If you would like a recorded copy of the resolution, please contact our Clerk and Recorders Office at 970-304-6530. The original Subdivision Bond has been e-mailed to Tammy Sack at Liberty Mutual, per phone request on 8/16/2012, in the amount of $126,752.00. If you have questions or need additional information, please do not hesitate to contact me at (970) 336-7215, Extension 4227. Very truly yours, BOARD OF COUNTY COMMISSIONERS i 11 By: /�?y?lib Ij1 . �> LL-'�� Donna J. Bec er, Deputy Clerk to the Board Hello