HomeMy WebLinkAbout20090595.tiffRESOLUTION
RE: APPROVE IMPROVEMENTS AGREEMENT ACCORDING TO POLICY REGARDING
COLLATERAL FOR IMPROVEMENTS (PRIVATE ROAD MAINTENANCE), AUTHORIZE
CHAIR TO SIGN, AND ACCEPT COLLATERAL FOR USE BY SPECIAL REVIEW #1638 -
BARTEZ, 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, on March 5, 2008, the Weld County Board of Commissioners approved Use
by Special Review #1638, for Bartez, LLC, P.O. Box 888, Longmont, Colorado 80502, for a Use
Permitted as a Use by Right, Accessory Use, or Use by Special Review in the Commercial or
Industrial Zone Districts (truck parking, maintenance, and office) in the A (Agricultural) Zone District
on the following described real estate, to -wit:
Lot B of Recorded Exemption #3975; being part of
the NE1/4 of Section 17, Township 2 North, Range
66 West of 6th P.M., Weld County, Colorado
WHEREAS, pursuant to certain Conditions of Approval, the Board has been presented with
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 Bartez, LLC, with terms and conditions being as
stated in said agreement, and
WHEREAS, the Board has been presented with Irrevocable Standby Letter of Credit
794-4831 from FirstBank of Longmont, 1707 North Main Street, Longmont, Colorado 80501, in the
amount of $39,708.00, and
WHEREAS, after review, the Board deems it advisable to approve said agreement and
accept said Irrevocable Standby Letter of Credit as stated above, copies of which are attached
hereto and incorporated herein by reference.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld
County, Colorado, that the 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 Bartez, LLC, be, and hereby is,
approved.
n(1.4/)BALL_
2009-0595
PL1952
4I I (beg
IMPROVEMENTS AGREEMENT - BARTEZ, LLC
PAGE 2
BE IT FURTHER RESOLVED that Irrevocable Standby Letter of Credit 794-4831 from
FirstBank of Longmont, 1707 North Main Street, Longmont, Colorado 80501, in the amount of
$39,708.00, be and hereby is, accepted.
The above and foregoing Resolution was, on motion duly made and seconded, adopted by
the following vote on the 9th day of March, A.D., 2009.
ATTEST:
Weld County Clerk to the Boa
4141
BYK- CILiLJ-('I (,CtrICO(
Deputy Clerk -to the Board
AP
ASTOF
County Attorney
Date of signature. '3))`(/C (
David E. Long
ARD OF COU _ Y COMMISSIONERS
OLORADO
m F. Garcia, Chair
c
ougla Rade acher, Pro-Tem
onway
a Kirkn}gyer./
6
2009-0595
PL1952
180
IMPROVEMENTS AGREEMENT ACCORDING TO
POLICY REGARDING COLLATERAL FOR LMPROVEMENTS
(PRIVATE MAINTENANCE)
FOR USES BY SPECIAL REVIEW AND SITE PLAN REVIEW
THIS AGREEMENT, made and entered into this t/ day of thie4 , 20/7,1, by and
between the County of Weld, State of Colorado, acting through its Board of County Commissioners,
hereinafter called "County.. and Bartez, LLC hereinafter called "Applicant."
WITNESSETH:
WHEREAS. Applicant is the owner of, or has a controlling interest in the following described
property in the County of Weld, Colorado:
Lot B of Recorded Exemption #3975; being part of the NE1/4
of Section 17, Township 2 North, Range 66 West of the 6th
P.M., Weld County, Colorado
WHEREAS, a Final uses by Special Review (USR) or Site Plan Review (SPR) plat of said property,
to he known as _ Use by Special Review Permit #1638 _ has been submitted to
the County for approval, and
WHEREAS, relevant Sections of the Weld County Code provide that no USR or SPR Final Plat shall
be approved by the County until the Applicant has submitted an Improvements Agreement guaranteeing the
construction of the public improvements shown on plans, plats and supporting documents of the USR and
SPR, which improvements, along with a time schedule for completion, are listed in Exhibits A and B of this
Agreement.
NOW, THEREFORE, IN CONSIDERATION OF the foregoing and of the acceptance and
approval of said Final Plat, the parties hereto promise, covenant and agree as follows:
1.0 Engineering Services: Applicant shall furnish, at its own expense, all engineering services in
connection with the design and construction of the USR or SPR improvements listed on
Exhibit A, which is attached hereto and incorporated herein by reference.
The required engineering services shall be performed by a Professional Engineer and
Land Surveyor registered in the State of Colorado, and shall conform to the standards
and criteria established by the County for public improvements.
1.2 The required engineering services shall consist of, but not be limited to, surveys,
designs, plans and profiles, estimates, construction supervision, and the submission
of necessary documents to the County.
2.0 Rights -of -Way and Easements: Before commencing the construction of any
improvements herein agreed upon, Applicant shall acquire, at its own expense, good
and sufficient rights -of -way and easements on all lands and facilities traversed by the
proposed improvements.
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3.0 Construction: Applicant shall furnish and install, at its own expense, the USR or SPR
improvements listed on Exhibit A, which is attached hereto and incorporated herein by
reference, according to the construction schedule set out in Exhibit B, which is also attached
hereto and incorporated herein by reference.
3.1 Said construction shall be in strict conformance to the plans and drawings approved
by the County and the specifications adopted by the County for such public
improvements. Whenever a USR or SPR is proposed within three miles of an
incorporated community located in Weld County or located in any adjacent county,
the Applicant shall be required to install improvements in accordance with the
requirements and standards that would exist if the plat were developed within the
corporate limits of that community. If the incorporated community has not adopted
such requirements and standards at the time the USR or SPR is proposed, the
requirements and standards of the County shall be adhered to. If both the
incorporated community and the County have requirements and standards, those
requirements and standards that are more restrictive shall apply.
3.2 Applicant shall employ, at its own expense, a qualified testing company previously
approved by the County to perform all testing of materials or construction that is
required by the County; and shall furnish copies of test results to the County.
3.3 At all times during said construction, the County shall have the right to test and
inspect, or to require testing and inspection of material and work at Applicant's
expense. Any material or work not conforming to the approved plans and
specifications shall he removed and replaced to the satisfaction of the County at
Applicant's expense.
3.4 Applicant shall furnish proof that proper arrangements have been made for the
installation of sanitary sewer or septic systems, water, gas, electric and telephone
services.
3.5 Said USR or SPR improvements shall he completed, according to the terms of this
Agreement, within the construction schedule appearing in Exhibit B. The Board of
County Commissioners, at its option, may grant an extension of the time of
completion shown on Exhibit f3 upon application by the Applicant subject to the
terms of Section 6 herein.
4.0 Release of Liability: Applicant shall indemnify and hold harmless the County from any and
all liability loss and damage County may suffer as a result of all suits, actions or claims of
every nature and description caused by, arising from, or on account of said design and
construction of improvements, and pay any and all judgments rendered against the County on
account of any such suit, action or claim, together with all reasonable expenses and attorney
fees incurred by County in defending such suit, action or claim whether the liability, loss or
damage is caused by, or arises out of the negligence of the County or its officers, agents,
employees, or otherwise except for the liability, loss, or damage arising from the intentional
torts or the gross negligence of the County or its employees while acting within the scope of
their employment. Alt contractors and other employees engaged in construction of the
improvements shall maintain adequate worker's compensation insurance and public liability
insurance coverage, and shall operate in strict accordance with the laws and regulations ofthe
State of Colorado governing occupational safety and health.
2
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NI' AOREEMENrs1PR1vA tr MAINTENANCEUSR OR SPR--tom, tInc
5.0 General Requirements for Collateral:
5.1 The value of all collateral submitted to Weld County must be equivalent to One -
Hundred percent (100%) of the value of the improvements as shown in this
Agreement. Prior to Final Plat approval, the applicant shall indicate which of the
four types of collateral preferred to be utilized to secure the improvements subject to
final approval by the Board of County Commissioners and the execution of this
Agreement. Acceptable collateral shall be submitted and the plat recorded within six
(6) months of the Final Plat approval. If acceptable collateral has not been submitted
within six (6) months then the Final Plat approval and all preliminary approvals shall
automatically expire. Applicant may request that the County extend the Final Plat
approval provided the cost estimates are updated and the development plans are
revised to comply with all current County standards. policies and regulations. The
improvements .shall he completed within one (I) year after the Final Plat approval
Mot one year after acceptable collateral is submitted) unless_ the applicant(1
requests that this Agreement he renewed at least thirty (30) days _prior to its
expiration and further provides that cost estimates for the remaining improvements
are updated and collateral is provided in the amount of One -Hundred percent
WEN) of the value of the improvements remaining to he completed. If
improvements are not completed and the agreement not renewed within these time
frames, the County, at its discretion, may make demand on all or a portion of the
collateral and take steps to sec that the improvements arc made.
5.2 The applicant may choose to provide for a phased development by means of
designating filings of a USR or SPR Final Plat. The applicant would need only to
provide collateral for the improvements in each filing as approved. 'The County will
place restrictions on those portions of the property that are not covered by collateral
which will prohibit the conveyance of the property or the issuance of building
permits until collateral is provided or until improvements are in place and approved
pursuant to the requirements for a Request for Release of Collateral.
5.3 The applicant intends to develop in accordance with Exhibits A and B.
6.0 Improvements Guarantee: The four types of collateral listed below are acceptable to Weld
County subject to final approval by the Board of County Commissioners.
6.1 An irrevocable Letter of Credit from a Federal or State licensed financial institution
on a form approved by Weld County. The Letter of Credit shall state at least the
following:
6.1.1 The Letter of Credit shall be in an amount equivalent of One -Hundred
percent (100%) of the total value of the improvements as Exhibits A.
6.1.2 The Letter of Credit shall provide for payment upon demand to Weld County
if the developer has not performed the obligations specified in the
Improvements Agreement and the issuer has been notified of such default.
6.1.3 The applicant may draw from the Letter of Credit in accordance with the
provisions of this policy.
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M 9.AGRFEMFNTSTRIVATE MAINTENANCE AUSR OR SPR-.Form doe
6.1.4 The issuer of the Letter of Credit shall guarantee that, at all times the
unreleased portion of the Letter of Credit shall be equal to a minimum of
One -Hundred percent (100%) of the estimated costs of completing the
uncompleted portions of the required improvements, based on inspections of
the development by the issuer. In no case shall disbursement for a general
improvement item exceed the cost estimate in the Improvements Agreement
(i.e., streets, sewers, water mains and landscaping, etc.). The issuer of the
Letter of Credit will sign the Improvements Agreement acknowledging the
agreement and its cost estimates.
6.1.5 The Letter of Credit shall specify that fifteen percent (15%) of the total
Letter of Credit amount cannot be drawn upon and will remain available to
Weld County until released by Weld County.
6.1.6 The Letter of Credit shall specify that the date of proposed expiration of the
Letter of Credit shall be either the date of release by Weld County of the
final fifteen percent (15%), or one year from the date of Final Plat approval,
whichever occurs first Said letter shall stipulate that, in any event, the
Letter of Credit shall remain in full force and effect until after the Board has
received sixty (60) days written notice from the issuer of the Letter of Credit
of the pending expiration. Said notice shall he sent by certified mail to the
Clerk to the Board of County Commissioners.
6.2
Trust Deed upon all or some of the proposed development or other property
acceptable to the Board of County Commissioners provided that the following are
submitted:
6.2.1 In the event property within the proposed development is used as collateral,
an appraisal is required of the property in the proposed development by a
disinterested Member of the American Institute of Real Estate Appraisers
(M.A.I.) indicating that the value of the property encumbered in its current
degree of development is sufficient to cover One -I Iundred percent (100%) of
the cost of the improvements as set forth in the Improvements Agreement
plus all costs of sale of the property.
6.2.2 In the event property other than the property to be developed has been
accepted as collateral by Weld County, then an appraisal is required of the
property by a Member of the Institute of Real Estate Appraisers (M.A.I.)
indicating that the value of the property encumbered in its current state of
development is sufficient to cover One -I Iundred percent (100%) of the cost
of the improvements as set forth in the Improvements Agreement plus all
costs of sale of the property.
6.2.3 A title insurance policy insuring that the Trust Deed creates a valid
encumbrance which is senior to all other liens and encumbrances.
6.2.4 A building permit hold shall be placed on the encumbered property.
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NI AGRI-EMCNTNPRIVATE MAIN TENANCEvrSRORSPR--tom doe
6.3 A surety bond given by a corporate surety authorized to do business in the State of
Colorado in an amount equivalent to One -Hundred percent (100%) of the value of
the improvements as specified in the Improvements Agreement.
6.4 A cash deposit made with the County equivalent to One -Hundred percent (100%) of
the value of the improvements.
7.0 Request for Release of Collateral: Prior to release of collateral for the entire project or for a
portion of the project by Weld County, the Applicant must present a Statement of Substantial
Compliance from an Engineer registered in Colorado that the project or a portion of the
project has been completed in substantial compliance with approved plans and specifications
documenting the following:
7.1 The Engineer or his representative has made regular on -site inspections during the
course of construction and the construction plans utilized are the same as those
approved by Weld County.
7.2 Test results must be submitted for all phases of this project as per Colorado
Department of Transportation Schedule for minimum materials sampling, testing and
inspections found in the Colorado Department of Transportation (CDOT) Materials
Manual.
7.3 "As built" plans shall be submitted at the time the letter requesting release of
collateral is submitted. The Engineer shall certify that the project "as -built" is in
substantial compliance with the plans and specifications as approved, or that any
material deviations have received prior approval from the County Engineer.
7 4 The Statements of Substantial Compliance must be accompanied, if appropriate, by a
letter of acceptance of maintenance and responsibility by the appropriate utility
company, special district or town for any utilities.
7.5 A letter must be submitted from the appropriate Fire Authority indicating the fire
hydrants arc in place in accordance with the approved plans. The letter shall indicate
ifthe fire hydrants are operational and state the results of fire flow tests.
7.6 The requirements in paragraphs 9.0 thru 9.5 shall be noted on the final construction
plans.
7.7 Following the submittal of the Statement of Substantial Compliance and
recommendation of approval by the County. the applicant(s) may request release of
the collateral for the project or portion of the project by the Board. This action will
be taken at a regularly scheduled public meeting of the Board.
7.8 The request for release of collateral shall be accompanied by "Warranty Collateral" in
the amount of fifteen percent (15%) of the value of the improvements as shown in
this Agreement excluding improvements fully accepted for maintenance by the
responsible governmental entity, special district or utility company.
7.9 The warranty collateral shall be released to the applicant upon final approval by the
Board of County Commissioners.
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8.0 Successors and Assigns: This Agreement shall be binding upon the heirs, executors, personal
representatives. successors and assigns of the Applicant, and upon recording by the County,
shall be deemed a covenant running with the land herein described, and shall be binding upon
the successors in ownership of said land.
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed on the day
and year first above written.
APPLICANT:
APPLICANT:
TITLE:
_j
,Subec�ilieLharki sworn to before me this 1O day of
•My &°o2missiorespires.
ATTEST: 41 w
Weld County Clerk to the Board(
BY`,„:,c iLil i L ao
DepuIy Cler to the Board
APPROVED AS TO FORM:
ikita
AL,:(✓Count Attorney
111111111111 111111 111111111 111111 111111 III 11111 1111 IIII
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Pitt r14� i�
‘2k -k) -al, 20 (51
BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLORADO
William F. Garcia .Chair
6
Revised 12'1')2007
M5AGREEMFNTSTRJVATE MAINTENANCE'.USR OR SPR- Poi -ovine
EXHIBIT A (PUBLIC WORKS)
Name of USR or SPR: Bartez USR-1638
Filing:
Location: Lot B of RE -3975: PT NE1/4 of Section 17. T2N.R66W of 6th P.M.. Weld County. CO
Intending to he legally hound, the undersigned Applicant hereby agrees to provide throughout this USR or SPR
the following improvements. (Leave spaces blank where they do not apply)
II cave spaces blank ')here they do not apply)
Improvements
Quantity
Units
Unit
Costs
Estimated
Construction
Cost
Site grading
5536
CY
2.17
$12,013
Street grading
2437
SY
2.00
$4,874
Street base
2437
SY
3.60
$8,773
Street paving
Curbs, gutters, and culverts
Sidewalk
Storm sewer facilities
Detention ponds (Water Quality)
143
CY
2.17
$310
Ditch Improvements
Subsurface drainage
Survey and street monuments and boxes
Street Names / Stop Sign
1
EA
350
5350
Road culvert (12" w/FES)
3
EA
350
$1,050
Grass lined swale (Grading)
1380
LF
2.25
$3.105
Other (please explain) (Outlet Structure)
1
EA
1500
$1,500
SUB -TOTAL:
$ 31,986
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GREEMENTS)PRIVATE MAINTENANCE/USR OR SPR-+orn,.doc
Name USR or SPR
EXHIBIT A (PLANNING SERVICES)
Bartez USR-1638
Filing:
Location: Lot B of RE -3975; PT NE1/4 of Section 17, T2N,R66W of 6th P.M., Weld County, CO
Intending to be legally bound, the undersigned Applicant hereby agrees to provide throughout this USR or SPR
the following improvements.
(Lease spaces blank where they do not apply)
Improvements
Quantity
Units
Unit
Costs
Estimated
Construction
Cost
Sanitary sewers
Tnmk and forced lines
Laterals (house connected)
On -site sewage facilities
On -site water supply and storage
Water Mains (includes bore)
Fire hydrants
Street lighting
Fencing requirements
168
LF
$4.00
$672
Landscaping (Trees)
6
EA
250
$1,500
Park improvements
Telephone
Gas
Electric
Water transfer
Non -Irrigated Seed Mix w/Soil Pren
18,500
SF
0.30
$5,550
SUB -TOTAL:
$ 7,722
Engineering and Supervision Costs $ 0
(Testing, inspection. as -built plans and work in addition to preliminary and final plat; supervision of actual construction by
contractors)
TOTAL ESTIMATED COST OF IMPROVEMENTS AND SUPERVISION $ 39,708.00
The above improvements shall be constructed in accordance with all County requirements and specifications.
and conformance with this provision shall be determined solely by Weld County, or its duly authorized agent.
Said impr , ents shall e completed according to the construction schedule set out in Exhibit B.
By l Cl
«et. i(''c.--...4 • }
Applie t Title Date.
Applicant
Title Date
(If corporation, t ) be igned by Pressidcn and attested to by Secretary, together with corporate seal.)
IIIIII VIII IIIIII IIII I'I'I 111111 IIIIII III VIII IIII IIII
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M'',AGRLLMENTS`,PRIVATE MAINTENANCR.USR OR SPR—Porm.doc
EXHIBIT B
Development: Bartez USR-1638
Filing:
Location: Lot B of RE -3975; PT NE1/4 of Section 17, T2N,R66W of 6th P.M., Weld County, CO
Intending to be legally bound, the undersigned Applicant hereby agrees to provide throughout this GSR or SPR
the following improvements.
All improvements shall be completed within 1 years from the date of approval of the final plat.
Construction of the improvements listed in Exhibit A shall be completed as follows:
(Leave spaces blank where they do not apply.)
Improvements Time for Completion
Site grading
Street base
Street paving
Curbs, gutters, and culverts
Sidewalk
Storm sewer facilities
itrtet-ien-ponds Detention (Water Quality Pond)
Ditch improvements
Subsurface drainage
Sanitary sewers
Trunk and forced lines
Mains
Laterals (house connected)
On -site sewage facilities
On -site water supply and storage
Water mains
Fire hydrants
Survey and street monuments and boxes
Street lighting
Street name signs
Fencing rec mremcnts
Landscaping
Park im.rovements
Road culvert
Grass lined swale
Telephone
Gas
Electric
Water Transfer
July of 2009
July of 2009
July of 2009
July of 2009
July of 2009
J
SUB -TOTAL:
July of 2009
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Re' sed 1-,102007
M .AGRIEEMEN 1 S\PRIVATE MAINTENANCEv.USR OR SPR— Fonodoe
Applicant
The County. at its option, and upon the request of the Applicant, may grant an extension of time for
completion for any particular improvements shown above, upon a showing by the Applicant that the above
schedule cann n be met.
title
Title
.2 -?C.07/
Date.
Date
(If corporation, to be signed by President and attested to by Secretary, together with corporate seal.)
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M:',AGRGP.MFFNTSPRIVAT[ MAIN ILNANCEVUSR OR SPR— Pomtdoe
Akr\r,
COLORADO
MEMORANDUM
TO: Board of County Commissioners
FROM: Jacqueline Hatch-Drouillard
SUBJECT: USR-1638, Bartez LLC
March 3, 2009
The Department of Planning Services has received two irrevocable standby letters of credit for
USR-1638 (Bartez LLC) collateral.
The first collateral is in the amount of thirty nine thousand seven hundred and eight dollars
($39,708.00) for on site improvements through private maintenance agreement. The second
collateral is in the amount of three thousand eight hundred and four dollars ($3,804.00) for off
site improvements through the public road maintenance agreement.
After review of the collaterals by the Department of Planning Services and the Department of
Public Works, it has been determined that the amounts outlined in both the agreements will be
sufficient to complete the work required for USR-1638, and the Departments of Planning
Services and Public Works recommend acceptance of these collaterals.
2009-0594
w
WILY
COLORADO
MEMORANDUM
TO: Jacqueline Hatch, Planning Services DATE: January 27, 2009
FROM: Clay Kimmi, P.E., C.F.M, Public Works
SUBJECT: USR-1638, Bartez LLC, Land Waste Management
The Weld County Public Works Department received the proposed improvement agreements on January 23,
2009. Our comments and requirements are as follows:
COMMENTS:
Weld County Strategic Roadway: WCR 22 is classified by the County is a Strategic Roadway, which
requires a 140 -foot right-of-way at full build out. There is presently a 60 -foot right-of-way. This road is
maintained by Weld County. Pursuant to the definition of SETBACK in the Weld County Zoning (23-1-90), the
required setback is measured from the future right-of-way line. (WCRs 7, 9.5, 11, 13, 22, 24, 27, 37, 49 and
74)
REQUIREMENTS:
Final Plat:
1. The final plat appears to be acceptable to Public Works.
Drainage Report:
1. The final drainage report appears to be acceptable to Public Works.
Improvements Agreement:
1. A signed private maintenance agreement was submitted. The agreement appears to be acceptable to
Public Works.
2. A signed public maintenance agreement was submitted. The agreement appears to be acceptable to
Public Works. However, the signature page references the wrong set of County Commissioners. A
new signature page needs to be submitted.
Original:
CC to File:
Jacqueline Hatch, Planning Services
USR-1638
Page I of I January 27, 2009
M VPLANNING-- DEVELOPMENT REVIEWVUSR-Use by Special Review VUSR-I63S Bartez LLCAUSR-1638 Comments 1-27-09 DOC
IRREVOCABLE STANDBY LETTER OF CREDIT
Letter of Credit Number: 794-4831
Amount: U.S. $ 39,708.00 (thirty nine thousand seven hundred and eight dollars and zero cents U.S. DOLLARS)
This Letter of Credit is issued on February 24, 2009 by Issuer in favor of the Beneficiary for the account of Applicant The parties'
names and their addresses are as follows:
APPLICANT:
BARTEZ LLC
PO Box 888
Longmont, Colorado 80502
BENEFICIARY:
COUNTY OF WELD
Board of County Commissioners
915 Tenth Street
PO Box 758
Greeley, Colorado 80632
ISSUER:
FIRSTBANK OF LONGMONT
1707 North Main Street
Longmont, Colorado 80501 1. LETTER OF CREDIT. Issuer establishes this Irrevocable Standby Letter of Credit 'Letter of Credit) in favor of Beneficiary in the
amount indicated above. Beneficiary may draw on this Letter of Credit with a Draft (or Drafts, if the maximum number of drawings is
greater than one). Each Draft shell be signed on behalf of Beneficiary and be marked "Drawn under FirstBank of Longmont Letter of
Credit No. 7944831 dated February 24, 2009." Drafts must be presented at Issuer's address shown above on or before the
Expiration Date. The presentation of any Draft shall reduce the Amount available under this Letter of Credit by the amount of the
draft.
This Letter of Credit sets forth in full the terms of Issuer's obligation to Beneficiary. This obligation cannot be modified by any
reference in this Letter of Credit, or any document to which this Letter of Credit may be related,
This Letter of Credit expires on the Expiration Date.
2. DRAWINGS. Beneficiary shall be permitted to make multiple drawings on this Letter of Credit. The maximum number of drawings
that may be made on this Letter of Credit is 2. 'Dr alt" means a draft drawn at sight.
3. DOCUMENTS. Each Draft must be accompanied by the following, in original and two copies except as stated:
A. The original Letter of Credit, together with any amendments.
B. The following other documents: A signed statement that the above is drawn for payment of private maintenance pursuant to:
Improvements Agreement According to Policy Regarding Collateral for Improvements, entered into between the County of Weld,
Colorado and Baiter, LLC.
Issuer shall be entitled to accept a draft and the documentation described above, as required by the terms of this Letter of Credit,
from any person purporting to be an authorized officer or representative of Beneficiary without any obligation or duty on the part of
Issuer to verify the identity or authority of the person presenting the draft and such documentation.
4. EXPIRATION DATE. This Letter of Credit expires at the close of business at Issuer's address at 6:00 PM Mountain Time (Time) on
February 24, 2010 IDatel. Issuer agrees to honor all Drafts presented in strict compliance with the provisions of this Letter of Credit
on or before the Expiration Date.
5. NON -TRANSFERABLE. This Letter of Credit is not transferable,
6. APPLICABLE LAW. This Letter of Credit is governed by the Uniform Customs and Practice for Documentary Credits, 2006
Revision, International Chamber of Commerce Publication No. 600 (UCP), or any later version or amendment. This Letter of Credit is
also governed by the laws of Colorado, except as those laws conflict with the UCP.
ISSUER:
FirstBank of Longmont
By °g'.
Maggie L. Ruhylan, Banking Officer
Date 2 / Z-2{ 101
Barter LLC
Standby Leav Of cruel
COf4LMToweli000e 3000005994025022409?
4'1995 Bankers Systems. Inc.. 5r. Cloud. MN Ex) —Tie Page 1
COLORADO
CLERK TO THE BOARD
PHONE (970) 336-7215, Ext. 4225
FAX: (970) 352-0242
P. 0. BOX 758
GREELEY, COLORADO 80632
December 8, 2009
ATTN; MAGGIE RUNYAN, BANKING OFFICER
FIRSTBANK OF LONGMONT
1707 NORTH MAIN STREET
LONGMONT, COLORADO 80501
RE: Letters of Credit #794-4858 AND #794-4831 — Bartez, LLC
Ms. Runyan:
This letter shall act as a confirmation of your obligations to the Board of County Commissioners of Weld
County under the above -referenced Letters of Credit.
As you are aware, on the 24th day of February, 2009, Firstbank of Longmont, issued two Letters of
Credit on behalf of Bartez, LLC, naming the Board of County Commissioners of Weld County, Colorado
as beneficiary. The dollar amount of the Letters of Credit was established at three thousand eight
hundred and four dollars and zero cents ($3,804.00) and thirty-nine thousand seven hundred and eight
dollars and zero cents ($39,708.00).
The terms of the Letters of Credit require that it be maintained by your institution until the 24th day of
February, 2010. If yourinstitution intends to terminate its obligations under the Letter of Credit, you are
required to provide notice to Weld County sixty (60) days prior to the anniversary date. If we are not in
receipt of said notification, the terms of the Letter of Credit will remain in force, and we will need a new
Letter of Credit, or Letter stating the original Letter of Credit termination date has been extended.
If you have any questions regarding this letter or your obligations under the Letter of Credit, or if you
disagree with any of the statements contained herein, please call Donna Bechler, at 970-356-4000,
ext. 4227, or e-mail me at dbechler@co.weld.co.us.
Very truly yours, ��
Donald D. Warden
Clerk to the Board
By:
pc Bartez„ LLC
Deputy Cler ' o the Board
Q';9-5595
U.S. Postal Services
CERTIFIED MAIL, RECEIPT
(Domestic Mail Only; No Insurance Coverage Provided)
Postage
Certified Fee
Return Receipt Fee
(Endorsement Required)
Restricted Delivery Fee
(Endorsement Required)
Total Postage & Fees
City, tate, ZIP44
PS Form +800, June 2002
SENDER: COMPLETE THIS SECTION
• Complete items 1, 2, and 3. Also complete
item 4 if Restricted Delivery is desired.
• Print your name and address on the reverse
so that we can return the card to you.
• Attach this card to the back of the mailpiece,
or on the front if space permits.
1. Article Addressed to:
;e /2 ywit
r5i✓- v1k O' /op) mo'v
/207 /614 . /4 ;4-((Yt ee f
7.09)17,047;c2 JOsa/
See Reverse for instructions
❑ Agent
❑ Addressee
- - -.ved b (Pr( Name), C. ery
uw N1c tS IC/ Da 1
D. Is delivery address different from Item 1? ❑ Yes
If YES, enter delivery address below: 0 No
f$eryicee� Type
(l Certified Mall
❑ Registered
0 Insured Mail
❑ Express Mail
eim Receipt for Merchandise
❑ C.O.D.
4. Restricted Delivery? (Extra Fee)
0 Yes
2. Article Number
(Transfer from service lab
PS Form 3811, February 2004
7005 1820 0003 5225 0150
Domestic Return Receipt
102595-02-M-1540
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