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Home My WebLink About20092572.tiff1� RESOLUTION RE: APPROVE CANCELLATION AND RELEASE OF COLLATERAL FOR SITE PLAN REVIEW, SPR #397 - ZEEK PARTNERSHIP, LLLP, C/O TED DRYSDALE 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 May 26, 2006, the Department of Planning Services approved the application for Zeek Partnership, LLLP, 4068 Camelot Circle, Longmont, Colorado 80504, for cold/dry storage units on the following described real estate, to wit: Lots 5 and 6, Block 1, Rademacher Business Park; being part of the NW1/4 of Section 23, Township 3 North, Range 68 West of the 6th P.M., Weld County, Colorado, and WHEREAS, on August 21, 2006, the Board of County Commissioners of Weld County, Colorado, approved an Improvements Agreement According to Policy Regarding Collateral for Improvements (Private Road Maintenance) between the County of Weld, State of Colorado, by and through the Board of County Commissioners of Weld County, and Zeek Partnership, LLLP, with terms and conditions being as stated in said agreement, and accepted Irrevocable Standby Letter of Credit No. 1269, drawn on Colorado Business Bank, 2025 Pearl Street, Boulder, Colorado 80302, in the amount of $196,817.50, and WHEREAS, staff from the Weld County Departments of Planning Services and Public Works 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 Irrevocable Standby Letter of Credit No. 1269, drawn on Colorado Business Bank, in the amount of $196,817.50 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. 11111111111111111 11111 HIM IIIII III 11111 IIII IIII 3655773 10/23/2009 03:53P Weld County, CO 1 of 2 R 0.00 D 0.00 Steve Moreno Clerk & Recorder 2009-2572 CC ' - !.),,«k , I x•.tic / t PL1851 CANCEL COLLATERAL - ZEEK PARTNERSHIP, LLLP, CIO TED DRYSDALE PAGE 2 The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 28th day of September, A.D., 2009. BOARD OF OUNTY COMMISSIONERS WELD q@1 TY, COLORADO ATTEST: tin/ William F. Garcia, Chair Weld County Clerk to th BY. AP Deputy Clerk to the : +ard„R ounty Attorney David E. Long Date of signature. 4/09 1111111 VIII IIIIII VIII IIII IIIIIII VIII III VIII IIII IIII ugla C <•Ca E'�i1c .L s4Rademache Pro-Tem Sean P. Conway 7 r.- Kirkmever 6) 3655773 10/23/2009 03:53P Weld County, CO 2009-2572 2 of 2 R 0.00 D 0.00 Steve Moreno Clerk & Recorder PL1851 COLORADO MEMORANDUM TO: Board of County Commissioners DATE: September 23, 2009 FROM: Kim Ogle, Planning Services SUBJECT: Rademacher I-25 Business Park Request for Release of Collateral for Site Plan Review 397 Zeek Partnership, LLLP do Ted Drysdale The Department of Planning Services received a request from Ted Drysdale of Alfa Construction, property owners for an inspection and release of monies held for the improvements associated with Site Plan Reviews No. 397, Zeek Partnership, LLLP. Weld County presently is holding the following amount of monies associated with the Site Plan Review. Zeek Partnership, LLLP (PL1851) SPR #397 #2006-2276 Private Road Maintenance. Irrevocable Standby Letter of Credit #1269, Colorado Business Bank Expires 08/10/07 with auto renewal Final Expiration 08/10/2012 $196,817.50 Representatives for the Department of Public Works and Planning Services performed a site investigation to determine if all improvements had been installed, maintained and were without material defect for Site Plan Review 397. Per the site visit on September 15, 2009, for SPR-397, it appears all transportation related items are acceptable to Public Works, and all of the non - transportation related items are acceptable to Planning Services. Public Works notes it is important to state that the detention ponds on Lots 5 and 6 will need to have continuous maintenance and reseeding to control erosion. Periodically, the ponds will require sediment removal to maintain the required 100 -year storm event volume. The Weld County Attorney, the Department of Public Works and the Department of Planning Services, have determined that the Irrevocable Standby Letter of Credit #1269, from Colorado Business Bank, may be released in full. 2009-2572 Kim Ogle From: Sent: To: Cc: Subject: Kim, Don Dunker Tuesday, September 15, 2009 2:57 PM Kim Ogle Richard Hastings; 'Ted Drysdale'; David Bauer; Don Dunker SPR-397 and SPR-409 site visit for collateral release Per the site visit today for SPR-397 it appears all items were acceptable to Public Works. The detention ponds on lots 5 and 6 will need to have continuous maintenance and reseeding to control erosion. Periodically the ponds will require sediment removal to maintain the required 100 -year storm event volume. Per the site visit today for SPR-409 it appears the only item needed is the as -built plans for the detention pond. It shall be stamped, signed and dated by an engineer licensed and able to practice within the State of Colorado. This detention pond will require continuous maintenance and reseeding to control erosion. The pond bottom will require grading and sediment removal to ensure positive drainage to the outlet pipe and maintain the required 100 -year storm event volume. It might be recommended that the applicant place a concrete 'V' channel to aid in the positive drainage to the outlet pipe. Let me know if you have any questions. Thanks, Don Dunker, P.E. Weld County Public Works 1111 H Street Greeley, CO 80631 phone: 970.304.6496 ext. 3749 fax: 970.304.6497 ddunker(ulco.weld.co.us Kim Ogle From: Sent: To: Cc: Subject: Ted Drysdale ]ted@alfaconstruction.net] Tuesday, September 01, 2009 12:41 PM Kim Ogle Don Dunker Release of LOC Kim we have requested a Release of the letters of credit on SPR 397 and 409. Just wondering how that process is going? Ted */°43 Ole COLORADO CLERK TO THE BOARD PHONE (970) 336-7215, Ext. 4225 FAX: (970) 352-0242 P. 0. BOX 758 GREELEY, COLORADO 80632 September 29, 2009 Zeek Partnership, LLLP do Ted Drysdale 4075 #200 Camelot Circle Longmont, Colorado 80504 RE: Cancellation and release of Collateral for Zeek Partnership, LLLP, (SPR #397), do Ted Drysdale Mr. Drysdale: On September 28, 2009, the Board of County Commissioners approved the cancellation and release of collateral for Zeek Partnership, LLLP, in the amount of $196,817.50, as referenced above. Enclosed is a copy of the Resolution signed by the Board of County Commissioners. I will forward a coy of ored. The original Irre vthe recorded Resolution as oc bleStandby Letter of Credit No. 1269 for $196,817.been has been crreturned to Colorado Business Bank, 2025 Pearl Street, Boulder, Colorado 80302. 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. BLhler Deputy Clerk to the Board Mae COLORADO CLERK TO THE BOARD PHONE (970) 336-7215, Ext. 4225 FAX: (970) 352-0242 P. O. BOX 758 GREELEY, COLORADO 80632 September 29, 2009 Attn: Jay Thompson, Vice President Colorado Business Bank 2025 Pearl Street Boulder, Colorado 80302 RE: Cancellation and release of Collateral — Zeek Partnership, LLLP, (SPR #397) c/o Ted Drysdale Mr. Thompson: Attached hereto please find the Board of County Commissioners Resolution releasing the collateral for Zeek Partnership, LLLP, c/o Ted Drysdale, in the amount of $196,817.50, and the original Irrevocable Standby Letter of Credit No. 1269, issued by Colorado Business Bank, in the amount of $196,817.50. 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. Beler, Deputy Clerk to the Board 177 COLORADO BUSINESS BANK co 9Lr oZ1 8 o�tyrP or, dtet. c° d1 0 L. °b1�r'1 IRREVOCABLE STANDBY LETTER OF CREDIT C1 rs a� & to { °9�2�dr the a�°a 9 Letter of Credit Number: 1269 Expiration Date: August 10, 2007 Date: August 10, 2006 Beneficiary Name: Address: City, State, Zip Code: Applicant Name: Address: City, State, Zip Code: Board of County Commissioner of Weld County 918 10th St. Greeley, CO 80631 Zeek Partnership LLLP 4068 Camelot Cir. Longmont, CO 80504 We hereby issue our Irrevocable Standby Letter of Credit No. 1269 in your favor in the amount of One Hundred Ninety Six Thousand Eight Hundred Seventeen and 50/100 U.S. Dollars (USD $196,817.50) and expiring at the close of business (3:00 p.m. Mountain Time) on August 10, 2007 at our counters at Colorado Business Bank, Loan Operations Department 3rd floor, 821 17th Street, Denver, CO 80202. This letter of credit is available by presentation of your draft at sight, drawn on Colorado Business Bank, accompanied by the original letter of credit and amendment(s), if any. In the event of a partial draw, this letter of credit is available by presentation of your draft at sight, drawn on Colorado Business Bank and certified copies of the original letter of credit and amendment(s), if any. Special Conditions: Partial drawings are allowed. It is a condition of this Letter of Credit that it will be automatically extended without amendment for an additional period of 12 months from the present and each future expiration date, unless, not less than 30 days prior to the then relevant expiration date, we notify you that we elect not to extend this Letter of Credit for any additional period. This letter will also have a full and final expiration date of August 10, 2012. 2025 Pearl Street, Boulder, Colorado 80302 (303) 413-6000 Fax (303) 786-9701 Letter of Credit No. 1269 Pg. 2 We hereby agree with you that drafts drawn under and in accordance with the terms of this letter of credit will be duly honored upon presentation of drafts(s) and required document(s) at our office no later than the close of business (3:00 p.m. Mountain Time) at 821 17`h St., Loan Operations Department 3`d floor, Denver, Colorado 80202, U.S.A. on or before the expiry date of this Letter of Credit. Unless otherwise expressly stated, this letter of credit and all negotiations hereunder shall be governed by and construed in accordance with the International Standby Practices ISP98, as published by the International Chamber of Commerce Publication No. 590, and, to the extent not inconsistent therewith, the laws of the State of Colorado. This letter of credit is not transferable unless Colorado Business Bank agrees to the transfer in writing. Please direct any inquiries with regard to this Letter of Credit to Colorado Business Bank, Loan Operations Department, 821 17th Street, Denver, CO 80202 (303)293-2265. Colorado Business Bank, ompson, Vice President 1820 0003 U.S. Postal ServiceTM CERTIFIED MAIL. RECEIPT (Domestic Mail Only; No Insurance Coverage Provided) Postage Certified Fee Return Receipt Fee (Endorsement Required) Restricted Delivery Fee (Endorsement Required) Total Postage & Fees Sent To o17 r :x?ra/L P.-C.;l0rniie) Siu-s [I6 z t or PO Box No. Da?j Fear] Stare, ZIP L7u[l�rr w rsD��a r 6011 - Postmark Here ILI / Hello