HomeMy WebLinkAbout20100311 960 RESOLUTION
RE: APPROVE CANCELLATION AND RELEASE OF COLLATERAL (PRIVATE ROAD
MAINTENANCE) FOR PLANNED UNIT DEVELOPMENT FINAL PLAN, PF #1097 -
BREAKNECK WELD PROPERTIES, 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 June 28, 2006, the Board approved the application of
Breakneck Weld Properties, LLC, 10845 West 32nd Avenue, Wheat Ridge, Colorado 80034, for
Change of Zone, PZ #1097, from the A (Agricultural) Zone District to the PUD (Planned Unit
Development) Zone District for nine (9) lots with E (Estate)Zone uses; and on March 30, 2007, the
Department of Planning Services approved a PUD Final Plan, PF #1097, for nine (9) lots with
E (Estate) Zone uses on the following described real estate, to wit:
N1/2 NW1/4 of Section 6, Township 3 North, Range
68 West of the 6th P.M.,Weld County, Colorado, and
WHEREAS, on March 24, 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 Keller Estates PUD, between the County of Weld,
State of Colorado, by and through the Board of County Commissioners of Weld County, and
Breakneck Weld Properties, LLC,with terms and conditions being as stated in said agreement,and
accepted Irrevocable Letter of Credit No. 1062,drawn on the FirsTier Bank, 18870 East Plaza Drive,
Suite 101, Parker, Colorado 80134, in the amount of$365,578.00, and
WHEREAS, on February 25, 2009,the Board accepted an Amendment to Irrevocable Letter
of Credit No. 1062, drawn on FirsTier Bank, in the amount of$54,836.70,which was to be retained
for a period of one year as warranty collateral.
WHEREAS,staff from the Weld County Departments of Public Works and Planning Services
have conducted a visual inspection and recommend release of said collateral.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld
County, Colorado, that the Amended Irrevocable Letter of Credit No. 1062, drawn on the FirsTier
Bank, in the amount of$54,836.70 be, and hereby is, canceled and released.
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.
1111111111111111111111111111111111111111111111111111
3678960 03/03/2010 02:30P Weld County, CO
1 of 2 R 0.00 0 0.00 Steve Moreno Clerk& Recorder
2010-0311
PL1843
l'c : [L , IGU 4fi2c C31 / c
CANCEL COLLATERAL - BREAKNECK WELD PROPERTIES, LLC
PAGE 2
The above and foregoing Resolution was, on motion duly made and seconded, adopted by
the following vote on the 10th day of February, A.D., 2010.
„I vii . BOARD OF COUNTY COMMISSIONERS
,, W 2-611"4.3c• `ELD COUNTY, COLORADO
ATTEST: - • fit„ r r3 a 1 rr7�G-r vb/xtv76dLt�
Weld County Clerk to the Bo
1. "', � ,�lasthademac er, Chair
`[� �_=- (1Z _IAA/22Lj
B u seilJ bu J 1. � ' 'rbara Kirkmeyer, P�o-Tem / -4�
D p ty Cle k o the Board °:)i.
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APPROV/E�/ASST O ( /V
/7 WcrBiam F. Garcia
un ttorney �,� c�L1" �
David E. Long
Date of signature: 433/i0
L ! ' 11111111111 IIII 1111111 III! 111111III 11111 IIII IIII
960 03/03/2010 02:30P Weld County, CO
2 of 2 R 0.00 D 0.00 Steve Moreno Clerk& Recorder
2010-0311
PL1843
� tt MEMORANDUM
Ii`,P C TO: Board of County Commissioners
COLORADO DATE: February 10, 2010
FROM: Kim Ogle, Planning Services
SUBJECT: Keller Estates PUD, Case No,. PF-1097
c/o Tom Radigan, Break Neck Weld Properties, Inc.
Release of Collateral — Private Improvements
The Department of Public Works has completed their inspection of the one-year warranty period
for Keller Estates PUD, case number PF-1097 and has determined that all the items have been
completed. Mr. Marquez indicates that all letters of compliance have been submitted and the
"As-Builts" for site construction have been reviewed and are in line with the completed
improvements.
Given this determination, the Departments of Public Works and Planning Services recommend
to release Irrevocable Letter of Credit# 1062 from FirsTier Bank, 18870 East Plaza Drive, Suite
101, Parker, Colorado 80134, for Keller Estates PUD, in the amount of fifty-four thousand eight
hundred thirty-six (54,836.70) dollars and 70/100s for Private Improvements.
The Departments of Public Works and Planning Services recommend's the Board accept this
request for a full release of collateral.
Breakneck Weld Properties, LLC (PL1843 -#2008-0912) PF#1097
Imps. Agrmt. Private Road Maintenance (Keller Estates PUD)
Irrevocable Letter of Credit#1062, FirsTier Bank
Expires 03/14/09 with auto renewal unless
60 days notice $365,578.00
Received Amended Irrevocable Letter of Credit -310,741.00
02/25/09 (#2009-0499) Expires 03/14/2010 $54,836.70
2010-0311
Katt MEMORANDm c e un tanning Department
OFFICE
FEB 0 2?ntn
TO: Kim Ogle DATRE /2EIVED
FROM: Nick Marquez
COLORADO SUBJECT: PF #1097 Keller Estates Private and Public Road
Maintenance Final Release of Warranty Collateral.
The Public Works Department has received a request from Tom Radigan of Breakneck Weld
Properties, LLC, for the release of the final 15% required under both Improvement Agreements
for the private and public road improvements. All letters of compliance have been submitted and
the as-builts have been reviewed and in line with the work completed.
The Irrevocable Letter of Credit number for the PRIVATE road agreement is 1062 and was
provided by FirsTier Bank.
Amount to be escrowed for 1-year warranty: $ 54,836.70
Amount to be released to Breakneck Weld Properties: $ 54,836.70
The Irrevocable Letter of Credit number for the PUBLIC road agreement is 1063 and was
provided by FirsTier Bank.
Amount to be escrowed for I-year warranty: $11,605.80
Amount to be released to Breakneck Weld Properties: $11,605.80
If you have any questions please let me know.
Thank you.
tC l
Nick Margquu z
Construction Inspector
Weld County Public Works
970.397.2418 cell
970.304.6496 office
nmarquez(iko.weld.co.us
pc: Rich Hastings
PF-1097
M%PLANNING—DEVELOPMENT REVIEW\1Final Plat(PP,MF,MIFF PF-1097 Keller Estates PUD\PF-1097 Keller Estate%FINAL Warranty Release doc
Page 1 of 1
BreakNeck Weld Properties, Inc
January 19, 2010
TO: Nick Marquez, Kim Ogle
FROM: Tom Radigan, President, BreakNeck Weld Properties, Inc.
CC: Jim Green, Clayton Kimmi, Mark Dougherty, Danna Cantu
RE: Release of Collateral, Improvements Agreements, Tract A& Tract B, Keller Estates
We at Keller Estates are requesting collateral release of the final 15% required under both
Improvements Agreements for Tract A& Tract B. Firstier Bank of Parker, CO issued the
Letter of Credit under these Agreements.
Please advise of any additional actions that must be taken to finalize this matter.
Sincerely,
Tom Radigan, President, BreaaTeck Weld Properties, Inc., 303-881-1996
Page 1
P.O. Box 894, Wheat Ridge, CO 80034-0894
1/19/2010
rs
CLERK TO THE BOARD
PHONE (970) 336-7215, Ext. 4225
FAX: (970) 352-0242
P. O. BOX 758
C GREELEY, COLORADO 80632
COLORADO
February 25, 2010
Breakneck Weld Properties, LLC
10845 West 32nd Avenue
Wheat Ridge, Colorado 80034
RE: Cancellation and release of Collateral for Breakneck Weld Properties, LLC (private)
To Whom it May Concern;
On February 10, 2010,the Board of County Commissioners approved the cancellation and release
of collateral for Breakneck Weld Properties, LLC, in the amount of$54,836.70, as referenced above.
Enclosed is a copy of the Resolution signed by the Board of County Commissioners. I will forward a
copy of the signed and recorded Resolution to you as soon as it has been recorded. The original
Irrevocable Letter of Credit No. 1062 for$54,836.70 has been returned to FirsTier Bank in Parker,
Colorado.
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:
Donna
Deputy Clerk to the Board
ta-03;4 :,
CLERK TO THE BOARD
WI
PHONE (970) 336-7215, Ext. 4225
FAX: (970) 352-0242
P. O. BOX 758
C. GREELEY, COLORADO 80632
COLORADO
February 25, 2010
FirsTier Bank
18870 East Plaza Drive, Suite 101
Parker, Colorado 80134
RE: Cancellation and release of Collateral — Breakneck Weld Properties (Private Road
Maintenance)
To Whom It May Concern:
Attached hereto please find the Board of County Commissioners Resolution releasing the
collateral for Breakneck Weld Properties, LLC, in the amount of$54,836.70, and the original
Amendment to Irrevocable Letter of Credit No. 1062, issued by FirsTier Bank, in the amount of
$54,836.70.
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:�
Donna J. Bec er,
Deputy Clerk to the Board
O Te `o `6
FIRSTIER BANK 66 P,? vdTTen
ro
www.FirsTierBank.com Member FDIC d('A "'�C'?,y 4) 'CI, 4°
S O e
C',"
AMENDMENT TO P �D�F
IRREVOCABLE LETTER OF CREDIT NO. 1062 k n°' _ 1C°4,
PERFORMANCE t� • r
P
<Po
a
The Board of County Commissioners No: 1062 ra
Weld County Colorado Original date: 03/14/08
Attn: Clerk of the Board Amended: 02/12/09
PO Box 758
Greeley,CO 80632
RE: BREAKNECK WELD PROPERTIES, INC, Private road Maintenance
Ladies and Gentlemen;
Letter of Credit No.1062 issued by FirsTier Bank in favor of The Board of Commissioners--Weld County Colorado
is hereby amended as follows:
LETTER OF CREDIT DECREASED TO$54,836.70,AND MATURITY DATE EXTENDED TO MARCH
14,2010.
All other terms and conditions of the original Letter of Credit remain the same.
Sincerely,
FirsTier Ba
'a �-7-17
By. /
hertyC/ �,/
Market esident"
FirsTie Bank
ACKNOWLEDGEMENT
State of OC1
} SS
County of (,1(",iCl,a v
On this 1(•:i�n1 day of 1--1.1.4:Jr(`i ,2009, before me,the undersigned Notary Public,personally appeared
Mark Dougherty, M -P/resident of PirsTier Bank.
By L -C-4:B(
Notary Public in and for the State of ( . (i
My commission expires: //_f i- J/ .,jrt' (1•`�1RY•;• ®�
' l,- r \-
Parker
Corporate Office Louisville Church Ranch Country Club Village Tech Center Downtown Parker Boulder Loveland
8001 Arista Place 980 Dillon Rd 7180 W.103rd Ave 2921 W.120th Ave 7887 E.Belleview 1225 17th St. 10169 3.Parker Rd 2120 Broadway 2695 Rocky Mtn Ave
Suite 500 Louisville,CO Westminster.CO Suite 100 Suite 100 Suite 150 Parker.CO Boulder.CO Suite 110
Broomfield,CO 80027 80021 Westminster.CO Englewood,CO Denver.CO 80134 80302 Loveland.CO
80021 303-926-9000 303951-4225 80234 80111 80202 303-464-6620 303-464-6680 80538
3039269000 303-464-6600 303.625-2300 303-464 6640,. 970-278-4278
FIRSTIER BANK
Corporate Office
555 Eldorado Blvd.
Broomfield,CO 80021
303-926.9000 IRREVOCABLE LETTER OF CREDIT NO. 1062
March 14, 2008
Louisville
980 Dillon Road Board of County Commissioners
Louisville,CO 00027 Weld County, Colorado
3033-9266-900 00
ATTN: Clerk to the Board
Church Ranch PO Box 758
7180 W.103rd Avenue Greeley, CO 80632
Westminster,CO 80021
303-9514225 RE: BREAKNECK WELD PROPERTIES, INC, Private Road Maintenance
Denver Tech Center
7887 E.Belleview We hereby open our Irrevocable Letter of Credit in your favor for the account of
:Englewood,C080111 Breakneck Weld Properties, Inc, 10845 W 32nd Ave, Wheat Ridge, CO 80034, for a
303425-2300 sum not to exceed the aggregate of $365,578, three hundred, sixty five thousand,
Country Club Village five hundred and seventy eight.
2921 W.120th Avenue
Westminster,C080234 Each draft so drawn must be marked "Drawn under FIRSTIER BANK, 18870 E
303-4646600 Plaza Dr, Ste 101, Parker, CO 80134, Letter of Credit No.1062 and be
Loveland accompanied by a "signed statement from the Board of County Commissioners of
Loveland Weld County, Colorado stating the applicant has committed a material breach of
2695 ckyMountainAvenue
Loveland,(0 80538 the Improvements Agreement According to Policy Regarding collateral for
970-278-4278 Improvements regarding Keller Estates Subdivision dated the bin day of December
2007 by and between Breakneck Weld Properties, Inc and the Board of County
Parker Commissioners of the County of Weld."
18870 E.Plaza Drive
Parker,CO4
303-064-6610-6620 This credit is subject, so far as applicable, to "The Uniform Customs and Practice
for Documentary Credits, 1993 Revision, The International Chamber or Commerce
Downtown Publication No. 500."
1225 17th Street
Denver,CO 80202 We hereby agree with you that all drafts drawn under and in compliance with the
303464-6640
terms of this credit will be duly honored and presented for payment to our main
Boulder office, FIRSTIER BANK, 555 Eldorado Blvd Suite 100, Broomfield, CO 80021. This
"Opening in September" letter of credit will expire on March 14, 2009 at 5:00 P.M.
2100 Broadway
Boulder,C080302 This letter of credit is automatically extended without amendment, for additional
one year periods from the current expiration or any future expiration date unless 60
days prior to such current expiration date FIRSTIER BANK notifies beneficiary in
writing that the letter of credit will not be renewed. In the case you receive such a
notification, you may draw by presentation of the following: (a) draft at sight on
FIRSTIER BANK; (b) a statement purportedly signed by an official of the Board of
County Commissioners of Weld County, Colorado stating that we have received
notice from FIRSTIER BANK the Letter of Credit No. 1062 will not be renewed and
that Breakneck Weld Properties, Inc. has failed to provide proof of adequate
collateral and substitution of this Letter or Credit No. 1062 (c) copy of letter from
FIRSTIER BANK stating non-renewal of Letter or Credit No. 1062 and the original
letter of credit.
www.Fi rsTierBa n Is.corn poufs Tru ,
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Mark rest n er
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Domestic Retum Receipt 102533-02-M-1540
Donna Bechler 411 614°
Donna Bechler �{ 04 ��i`
From:ent l l� (4C�✓1l
Sent: Monday, March 15, 2010 3:48 PM i L 11/1(1 ;
'1 -� le( r
To: 'radigantom@comcast.nef 1 4'
Subject: Breakneck Properties f �"
1
Mr. Radigan,
T/9/ P71(4(10)1
On February 25, 2010,the Board of County Commissioners released the collateral for Breakneck Properties. I attempted
to send you notification of the release, along with a copy of the resolution, but it was returned to our office as
undeliverable. The address I mailed it to was 10845 West 32nd Avenue,Wheat Ridge, Colorado 80034. If the address
has changed, could you please e-mail that to me, so I can try to send it again.
Thank you.
DONNA J. BECHLER
Deputy Clerk to the Board
Weld County, Colorado
915 10th Street
Greeley, Colorado 80631
(970) 356-4000 Ext. 4227
(970) 352-0242 (fax)
Website: www.co.weld.co.us
Email: dbechler@co.weld.co.us
1
Sharon Kahl
From: Sharon Kahl
Sent: Wednesday, March 17, 2010 9:28 AM
To: 'radigantom@gmail.com'
Subject: PL1843/2010-0311 AND 2010-0312/RECORDED RESOLUTION
Attachments: DESKTOP.pdf; DESKTOP-1.pdf
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Donna Bechler
From: Danna Cantu [DCantu@firstierbank.com]
Sent: Monday, March 29, 2010 12:54 PM
To: Donna Bechler
Subject: Courier Release Letter
Attachments: DOC032910.pdf
Donna,
Thank you so much and I apologize for the inconvenience. The courier
service, Quick Silver, should be by your office later this afternoon to
pick the documents up.
Please feel free to give me a call if you have any questions.
Danna Cantu
Credit Analyst
http://www.firstierbank.com
Parker
10169 Parker Road
Parker, CO 80134
Phone: 303-464-6623
Fax: 303-464-6621
DCantu(n)firstierbank.com
NOTICE: The information contained in this e-mail is confidential and is for the use of the
intended recipient. If you are not the intended recipient, any disclosure, copy, distribution
or other use of this information is STRICTLY PROHIBITED. If you have received this
communication in error, please immediately contact the sender and destroy the material in its
entirety, whether in electronic or hard copy format. Thank you.
1
FIRSTIER BANK
www.FirsTieraa Member FDIC
March 29, 2010
Weld County, Colorado
Attn: Clerk to the board
915 10th
Greeley CO
To Whom It May Concern:
Please release the following original documents to Quicksilver courier on behalf of FirsTier
Bank:
1. Letter of Credit#1062 Breakneck Weld Properties, Inc—Private Road Maintenance
2. Letter of Credit$1063 Breakneck Weld Properties, Inc—Public Road Maintenance.
Date of pickup:
b-,/7 D
•
Courier signature:
904-/ 1/71/1Arr
Printed:
D,9711 Ma/Qv 0-t/—
Approved:
a Dougherty
Market President
Parker
Corporate Office Loulsiille °lurch Ranch Country Club Village Tech Center Downtown Parker Boulder Loveland
555 Eldorado Blvd. 980 D Ilon Rd 7180 W.103rd Ave 2921 W.120th Ave 7887 E.Belleview 1225 17th St. 10169 S.Parker Rd 2120 Broadway 2695 Rocky Mtn Ave
Broomfield.CO touiseile,CO Westminster,CO Westminster.CO Suite 100 Suite 150 Parket.CO Boulder.CO Suite 110
80021 80027 80021 80234 Englewood.CO Denver.CO 80134 80302 Loveland,CO
303-926-9000 303-925-9000 303-951-4225 303-4648800 80111 80202 303-464-6620 303-464-6680 80538
fine e..�++nn O7fl. 78407*
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