HomeMy WebLinkAbout20112216.tiff yj
RESOLUTION
RE: APPROVE CANCELLATION AND RELEASE OF COLLATERAL FOR ST.VRAIN LAKES
METROPOLITAN DISTRICT#1/COUNTY ROAD 9.5 - CARMA BAYSHORE, LLC
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 December 6, 2006, the Board approved Planned Unit
Development Final Plan, PF #1078, for Carma Bayshore, LLC, 188 Inverness Drive West,
Suite 150, Englewood, Colorado 80112, for St. Vrain Lakes, Filing 1, for 542 lots with R-1 (Low
Density Residential) Zone uses; 409 lots for Townhomes with R-2 (Duplex Residential) and
R-3 (Medium Density Residential) Zone uses; C-1 (Neighborhood Commercial) and C-2 (General
Commercial) Zone uses; and continuing Oil and Gas Production uses, along with 230.02 acres of
open space consisting of a river corridor, private recreational lakes, and community parks, on the
following described real estate, to wit:
Parts of Sections 35 and 36, Township 3 North,
Range 68 West of the 6th P.M., Weld County,
Colorado, and
WHEREAS, on July 30, 2007, the Board of County Commissioners of Weld County,
Colorado, approved an Improvements Agreement According to Policy Regarding Collateral for
Improvements to St. Vrain Metropolitan District - County Road 9.5, between the County of Weld,
State of Colorado, by and through the Board of County Commissioners of Weld County, and Carma
Bayshore, LLC, with terms and conditions being as stated in said agreement, and accepted
Subdivision Performance Bond #220 96 10, drawn on Insurance Company of the West, 11455
El Camino Real, San Diego, California 92130-2045, in the amount of$1,353,674.00, and
WHEREAS, on April 7, 2008, the Board approved the partial release of collateral for the
Improvements Agreement According to Policy Regarding Collateral and accepted Subdivision
Performance Bond Decrease Rider#220 96 10, drawn on Insurance Company of the West, 750 B
Street, Suite 2400, San Diego, California 92101, reducing the amount of credit available for draw by
Weld County to $203,051.00, and
WHEREAS, on March 30, 2011, General Insurance Company of America provided
Replacement Bond #TM5123550/011047461, in the amount of$203,051.00, and
WHEREAS, staff from the Weld County Department of Public Works has conducted a visual
inspection and recommends the full release of said collateral, in the amount of$203,051.00.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld
County, Colorado, that Replacement Bond#TM5123550/011047461, drawn on General Insurance
Company of America, in the amount of$203,051.00 be, and hereby is, canceled and released.
1111111 111111 111111IIII III11111111 III 11111 1111 III I
3789571 08/31/2011 01:07? Weld County, CO
d
1 of 2 R 0.00 D 0.00 Steve Moreno Clerk& Recorder 2011-2216
PL1815
CANCELLATION AND RELEASE OF COLLATERAL FOR ST. VRAIN LAKES METROPOLITAN
DISTRICT #1/COUNTY ROAD 9.5 - CARMA BAYSHORE, LLC
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.
The above and foregoing Resolution was, on motion duly made and seconded, adopted by
the following vote on the 15th day of August, A.D., 2011.
BOARD OF COUNTY COMMISSIONERS
W7O COUNTY, COLOR O
ATTEST:y ,;mss Dg, y
Eh? ♦ rbara Kirkmeyer, Chair �yG�
Weld County Clerk tot o. -
J ISM �:� �1♦� Sean P on a o-Tem
BY: j{.9.
l _�.,�,
Deputy Cl rk to the
Wirst
m F. arcia
O FORM: a e ,,
David E. Long
County Attorney
�ouz as Radem cher
Date of signature: ir'
1 111111 11111 111111 111111 11111 III 1111111 III 11111 IIII IIII
3789571 08/31/2011 01:07P Weld County, CO
2 of 2 R 0.00 D 0.00 Steve Moreno Clerk & Recorder
2011-2216
PL1815
MEMORANDUM
TO: Clerk to the Board
DATE: 8/4/2011
W����• FROM: Richard Hastings, Public Works g , Department
COLORADO
SUBJECT: BOCC Agenda Item: Final Release of Collateral
Carma Bayshore, LLC (CR 9.5 Improvements)
(PL1815, #2007-2154, PF-1078)
Request for Final Release of Collateral:
The Department of Planning Services received a request from Chris Bremner/St. Vrain Lakes
Metropolitan District No. 1, the representative for the developer, requesting an inspection of the
property in order to obtain the final release of collateral, for the improvements to CR 9.5, located
south of CR 28 near the Southwest Weld County Service Center.
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 Offsite Improvements Agreement
According To Policy Regarding Collateral For Improvements (Weld County Road 9.5),
Document# 2007-2154, have been completed and are found to be acceptable.
Weld County Collateral List:
Carma Bayshore, LLC (PL1815 -#2007-2154) PF #1078
Off-site Improvements Agreement
Subdivision Bond #220 96 10, Insurance Co of the West
No Expiration Listed $1,353,674.00
Received Bond Decrease Rider 04/07/08 -1,150,623.00
(#2008-1043) Credit available $203,051.00
Received Replacement Bond from General Insurance Co
Of America #TM5123550/011047461 on 4/5/2011
Recommendation:
The Departments of Public Works and Planning Services are recommending final release of
collateral, as shown above from the Weld County Collateral List, in the amount of$203,051.00
pc:Dave Bauer,Weld County Public Works
Wayne Howard,Weld County Public Works
Kim Ogle,Planning Services
M:\PLANNING—DEVELOPMENT REVIEW C3-Final Plat(PF,MF,MJF)\PF-1078 St.Vrain Lakes POD\ImprovementAgree—f<ring'
Collateral Release(Canna Bayshore,WCR 9.5 Improvements)-MEMO.docx
2011-2216
MEMORANDUM
WI ID TO: Rich Hastings, Josh Holbrook
C. DATE: 8/3/2011
COLORADO FROM: Don Stang
SUBJECT: Carma final release on WCR 9.5.
Gentlemen,
The crack fill on WCR 9.5 has been done to the Public Works satisfaction. Punch list items have
been completed. Therefore the release of collateral can be dispersed.
Thank you.
Don
Don Stang
Construction Inspector II
Weld County Public Works
970.301.2623 cell
970.304.6496 office
dstang@co.weld.co.us
C-\Documents and Settings\rhastings\Local Settings\Temporary Internet Files\Content Outlook\Y9F6VG0I.\Carina 9 9 MEMO.docx
Page 1 of 1
RE.:WED
APR 1 2 2011
Weld Got-ip __.„ Department
SAINT VRAIN LAKES METROPOLITAN D?StilTI6ge
Apri17, 2011
Department of Planning Services
Weld County Colorado
Attn: Kim Ogle—Planning Manager
1555 North 17th Ave
Greeley, CO 80631
Dear Kim Ogle:
This letter is to request a final inspection of Weld County Road 9.5 near the intersection
of WCR 9.5 and WCR 28 in accordance with the Intergovernmental Agreement between
Weld County and St. Vrain Lakes Metropolitan District No. 1, dated October 1, 2007.
Please have your public works inspector contact me at 303.790.6594 to schedule a time.
Sincerely,
Chris Bremner
St. Vrain Lakes Metropolitan District No. 1
1861 - 2011
CLERK TO THE BOARD
PHONE (970) 336-7215, Ext. 4227
FAX: (9(970) 35252-0242
P. O. BOX 758
WELD- -COUNTY GREELEY, COLORADO 80632
August 22, 2011
Attn: Marc Savela
Carma Bayshore, LLC
188 Inverness Drive West, Suite 150
Englewood, Colorado 80112
RE: Cancellation and release of Collateral — Carma Bayshore, LLC
Mr. Savela:
Attached hereto, please find the Board of County Commissioners Resolution releasing the
Collateral for Carma Bayshore, LLC/St Vrain Lakes Metropolitan District # 1, in the amount of
$203,051.00. If you would like a recorded copy of the resolution, please contract our Clerk and
Recorders Office at 970-304-6530. The original Subdivision Bond #TM5123550/011047461,
has been returned to Riskcorp, Inc., in the amount of$203,051.00.
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
By:
Donna J. Be ler,
Deputy Clerk to the Board
1861 - 2011
CLERK TO THE BOARD
PHONE (970) 336-7215, Ext. 4227
FAX: (970) 352-0242
. P. O. BOX 758
W E L D__,C O U N T Y GREELEY, COLORADO 80632
I
August 22, 2011
Attn: Martha Fraser
Riskcorp, Inc.
465 Richmond Street Suite 302
London, Ontario Canada N6A5T4
RE: Cancellation and release of Collateral — Carma Bayshore, LLC
Ms. Fraser:
Attached hereto please find the Board of County Commissioners Resolution releasing the
collateral for Carma Bayshore, LLC/St Vrain Lakes Metropolitan District # 1, PF #1078, in the
amount of $203,051.00, and the original Subdivision Bond, No. TM5123550/011047461 issued
by General Insurance Company of America in the amount of $203,051.00. If you would like a
recorded copy of the Resolution, you can contact the Recording Department of the Clerk and
Recorder's Office with Weld County Government.
If you have questions or need additional information, please do not hesitate to contact me at
(970) 356-4000, Extension 4227
Very truly yours,
BOARD OF COUNTY COMMISSIONERS
By. ��G'��l/lyA# �,/ty//
Donna J. B hler,
Deputy Clerk to the Board
,7){.
S-ot4atb9 \y
V ea et a SUBDIVISION BOND
eyaa5yspv spat
eta 4 Ag.y .,„e. Bond No. TM5123550/011047461
taa�9 coy- �p Premium: $2,031.00
Goyy
yQJ pJ, e
° cyKNOW ALL MEN BY THESE PRESENTS, that we Carma Bayshore, LLC as Principal,
as )62 and General Insurance Company of America authorized to do business in the State of
Colorado, as Surety, are held and firmly bound unto the Weld County, Colorado as Obligee, in
the penal sum of Two Hundred Three Thousand Fifty One and 00/100 Dollars ($203,051.00),
lawful money of the United States of America, for the payment of which sum well and truly to be
made, we bind ourselves, our heirs, executors, administrators, successors and assigns, jointly
and severally, firmly by these presents.
WHEREAS, Carma Bayshore, LLC. has agreed to construct in Weld County, Colorado
the following improvements: St. Vrain Metro District - WCR 9.5 Eastern Two Lanes
Improvement Plans recorded in Weld County , Dated:
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
and the surety on this Bond binds itself to said Obligee, to the amount on the hereinabove
stated penal sum, that said Improvements shall be completed in accordance with the
Agreement between Principal and Obligee.
IN WITNESS WHEREOF, said principal has hereunto set its hands and seals, and said Surety
has caused these presents to be executed by its officers thereunto authorized this 30th day of
March 2011.
CarmaBa ore, LLC
Gen raI Insurance Company of America
, Attorney-in-Fact, Chris Watters
Bond No: TM 5123550 /011047461
ACKNOWLEDGEMENT OF SURETY
CITY OF TORONTO
PROVINCE OF ONTARIO
On this 30th day of March, 2011, before me personally came P. Martin, to me known, who,
being by me duly sworn, did depose and say that she is the Attorney-in-fact of General
Insurance Company of America, the corporation described in and which executed the within
instrument; that she knows the seal of said corporation; that the seal affixed to said instrument is
such corporate seal; that it was so affixed by order of the Board of Directors of said corporation,
and that she signed her name thereto by like order; and that the liabilities of said corporation do
not exceed its assets as ascertained in the manner provided by law.
Swanatne Tulsieram,
a Commissioner,etc.,City of Toronto,
for The Guarantee Company of Noah America.
Expires July 2,2013.
do, Safeco Insurance Company of America
General Insurance Company of America
*Vie Liberty POWER 10014th Avenue
W ' Mutual. OF ATTORNEY Suite 1700
►, Seattle,WA 98154
No. 7482
KNOW ALL BY THESE PRESENTS:
That SAFECO INSURANCE COMPANY OF AMERICA and GENERAL INSURANCE COMPANY OF AMERICA, each a
Washington corporation,does each hereby appoint
*********************DINA AMARO-ELIAS;H.CHRISTIE;ROBERT DEMPSEY;NELSON DE QUINTAL;D.R. KEARNS;
RICHARD LONGLAND;S.J.LUWE;P.MARTIN;S.REES;MARK SKANES;CHRIS WAITERS*************************
its true and lawful attorney(s)-in-fact,with full authority to execute on its behalf fidelity and surety bonds or undertakings and other
documents of a similar character issued in the course of its business,and to bind the respective company thereby.
IN WITNESS WHEREOF, SAFECO INSURANCE COMPANY OF AMERICA and GENERAL INSURANCE COMPANY OF
AMERICA have each executed and attested these presents
21st March , 2009
this day of
Da tit
•
Dexter R.Leqq,Secretary Timothy A.Mikolajewski,Vice President
CERTIFICATE
Extract from the By-Laws of SAFECO INSURANCE COMPANY OF AMERICA
-
and of GENERAL 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
attomeys-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 SAFECO INSURANCE COMPANY OF AMERICA
and of GENERAL 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-attomey 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,Dexter R.Legg ,Secretary of SAFECO INSURANCE COMPANY OF AMERICA and of GENERAL 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 these
corporations,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
this 30TH dayof MARCH 2011
•
fl:CC:
CgMtb\ •$t CO*4y
a
3 W ScEAL � t2,MI
W x
�,e, p !S2! \s Dexter R.Legg,Secretary
K.
4.6r 'el 47
WEB PDF
S-0974/DS 3/09
a-
$` ` Liberty GENERAL INSURANCE COMPANY OF AMERICA
01 MIWA FINANCIAL STATEMENT-DECEMBER 31,2008
Assets Liabilities
Cash and Bank Deposits $ 210,621,761 Unearned Premiums $ 464,642,504
*Bonds—U.S Government 22,320,032 Reserve for Claims and Claims Expense 1,099,656,110
Funds Held Under Reinsurance Treaties _
*Other Bonds 1,506,930,774 Reserve for Dividends to Policyholders 1,508,929
*Stocks . . 47,055,860 Additional Statutory Reserve _
Real Estate 0 Reserve for Commissions,Taxes and
Other Liabilities 288,616,428
Agents'Balances or Uncollected Premiums 307,478,359
Total $1,854,423,971
Accrued Interest and Rents 22,275,370 Special Surplus Funds $ _
Other Admitted Assets 185,360,618 Capital Stock 5,000,000
Paid in Surplus 170,891,058
Total Admitted Assets 02302.042.774 Unassigned Surplus 271,727,745
Surplus to Policyholders 447.618,803
Total Liabilities and Surplus S7.307 042,774
COAlp,tt
& �, * Bonds are stated at amortized or investment value;Stocks at Association Market Values.
cartemrE9 Securities carried at$81,501,894 are deposited as required by law.
SEAL
" S C
-*ofiYt1,5a`
I, TIM MIKOLAJEWSKI, Vice-President of General Insurance Company of America,do hereby certify that the foregoing is a true, and
correct statement of the Assets and Liabilities of said Corporation,as of December 31,2008,to the best of my knowledge and belief.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of said Corporation at Seattle, Washington, this 1st day of
March,2009.
Vice-President
5-8859 3/09
U.S. Postal ServiceTM
° CERTIFIED MAIL,. RECEIPT
ti
rR (Domestic Mail Only;No Insurance Coverage Provided)
0
F rdellvery inf rmati•n visit ur we•site at www.us•s.c
Q
p
Lfl
Postage $p Certified Fee
/y
- ../'V p ostmark /
p Return Receipt Fee(Endorsement Required)
Off„ reed Delivery Fee
(Endorsement Required)
na
fL Total Postage 8 Fees $W
C▪I Sent To n
gC}f//1L//C
or PO Box /�Y''L4//MMRR--- -=- L car,1[p
(reel,AP N L O.J6,1.1e.L. nazi 39&.
C ,Slat ZIP+4
5
S Farm 3'••,June 2•• See-eversef rinstructi•ns
USPS.com® - Track & Confirm Page 1 of 1
English Customer Service USES Motile Register/Sign In
aLSPSCON Search USPS corn or Track Packages
Quick Tools Ship a Package Send Mail Manage Your Mail Shop Business Solutions
Track & Confirm
� ERlrvr DETAILS
YOUR LABEL NUMBER SERVICE STATUS OF YOUR ITEM Deli B TIME LOCATION FEATURES
7054
Details not available
2890
Details not available
0003
Delivery Status Information i$not
available for your tem via this webste.A
return receipt after mailing may be
available through your local Post Office
5709
Details not available
9126
Delivery Status itrmation rs not
rliable for your item via this webste.A
eturn receipt after ma8mg may be
available through your local Post Office
PRINT DETAILS
Check on Another Item
What's your label(or receipt)number?
Find
LEGAL ON USPS.COM ON ABOUT.USPS.COM OTHER USPS SITES
Privacy Policy' Gmernment Services, Abo-yLUSPS Home Business Customer Gateway.
Terms of use Buy Samps&Shop, Newsroom, Postal Inspectors,
EOM r Pint a Ln Lei wan Postage r Mae service upuates I Inspector General t
NO FEAR .ct EEO Data, ( t rSr r/IL e rms T.P ID masons Postal Explores
Eire Inoex. Careers
Copyriab 2011 uSP5 AI Rights Retrerveb
https://tools.usps.com/go/TrackConfirmAction.action 10/18/2011
Best's Credit Rating Center - Company Information for General Insurance Company of A... Page 1 of 2
Ratings & Analysis Center
Regional Centers:Asia Pacific l Canada(Europe,Middle East and Africa Home I About Us I Contact Us I Sitamap
General Insurance Company of America 6'Pdntttiepateinig
Ratings&Analysis For ratings and produd access
n Home (a member of Liberty Mutual Insurance Companies) al Sign-up
n Bests Credit Ratings+ A.M.Best 4:002447 NAIC 4:24732 FEIN 4: 910231910 Assigned to 'Powcis Pe
v Financial Strength Ratings companies l n13 ST
n Issuer Credit Ratings that have,in ( A Wet
n Debt Ratings our opinion. Find a Best's Credit Rating
v Advanced Search Address:175 Berkeley Street an excellent ability to meet their Enter a Company Name Clit
s About Best's Credit Ratings+ Boston,MA 02116 ongoing insurance obligations.
n Get a Credit Rating+ UNITED STATES n Advanced Search
u Best's Special Reports
a Add Best's Credit Ratings Search Phone.206-545-5000
To Your Site Fax.206-473-6773
•BestMark for Secure-Rated Web www safecomm r `GelA.Rated By AM Best
Insurers
D Contact an Analyst Best's Ratings
n Awards and Recognitions View Rutting Definitions
NewsBAnatysis Financial Strength Ratings View Definitions Issuer Credit Ratings View Definitions Select one...
Products&Services Rating:A(Excellent) Long-Term:a
Affiliation Code.p(Pooled) Outlook.Stable
Industry Information Financial Size Category.XV($2 Billion or Action.Affirmed
Corporate - greater) Date:June 16,2011
Support&Resources • Outlook:Stable
Conferences and Events • Action.Affirmed
Effective Date:June 16,2011
'Denotes Under Review Best's Ratings
Office: A.M.Best Company
Senior Financial Analyst: Edward Keane
Assistant Vice President: Michelle Baurkol,ARe,ARM
Reports and News
Visit our NewsRoom for the latest news and press releases for this company and its A.M.Best
Group
,'- AMB Credit Report-Insurance Professional-includes Best's Financial Strength
Rating and rationale along with comprehensive analytical commentary,detailed
- business overview and key financial data.
1 ' Report Revision Date:06/29/2011 (represents the latest significant change). Lj`
NN Historical l Reports are available in AMB Credit Report-Insurance Professional de
114)l Z74"
- ,/e��p
Archive, '[xis
1 Ir7 nt, / q /
v I (/1rLJ EQV� i
\ -- Best's Exhesve seminary Reporeportsrts feature erul Ovaewtvinco available(yl N' versions,financial these presentation to is styleincluding tab balance sheet,tyincome slalalysis.
key performance tests profitability,liquidity and reserve analysis.
Data Status:2011 Bests Statement File-P/C,US.Contains data compiled as of
8/19/2011 Cross checked).
` ' 1 N • S in le Company-five years of financial data specifically on this company
w • Comparison-side-by-side financial analysis of this company with a peer ,
group of up p you select. ///�
• Composite
selected peer-evaluate
valu eathiss company's financials against a peer group }l"Pi� e l/composite.Repon displays both the average and total composite of your
\u AMB Credit Report-Business Professional-provides three years of key Cr-- 7,) -//
_� _999 \� /'`/. financial data presented with colorful charts and tables.Each report also features !f�,r
i \ �\, the latest Best's Ratings,Rating Rationale and an excerpt from our Business 1331913-
790 ,64
Review commentary.
J(/
Data Status:Contains data compiled as of 8/19/2011(Duality Cross checked).
3' .v
N'-2 N 1
is
Best's Key Rating Guide Pre providedFinan
financialas in Bast's Key Rating Guide products �
Data Status:2010 Financial Data(Duality cross cracked).
2f r
.N.,..:..‘ vv '1/4v Financial and Analytical Products
\ ��VJI Best's Key Rating Guide-P/C US 8 Canada
� r---' Best's Statement File-P/C USt ".„S
,��13
`v y\ Best's Statement File-Global V
Best's Insurance Reports-P/C US&Canada —
\ � �� Best's State Line-P/C.US ;�
v`i ) A Best's Insurance Expanse Exhibit(IEE)-PIC,US
� J., Best's Schedule F(Reinsurance)-P/C US
4
�— _ f
- Best's Schedule D(Municipal Bonds)-US '� v
r— Best's Schedule D(Common Stocks)-US V
http://www3.ambest.com/ratings/FullProfile.asp?B1=0&AMBNum=2447&AltSrc=1&Alt... 8/22/2011
Hello