HomeMy WebLinkAbout20091395.tiffRESOLUTION
RE: APPROVE IMPROVEMENTS AGREEMENT ACCORDING TO POLICY REGARDING
COLLATERAL FOR IMPROVEMENTS (PRIVATE ROAD MAINTENANCE), AUTHORIZE
CHAIR TO SIGN, AND ACCEPT COLLATERAL FOR PLANNED UNIT DEVELOPMENT,
PF #1085 - LOVELAND PEAKS, 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 October 4, 2006, the Department of Planning Services approved Planned
Unit Development Final Plan, PF #1085, for Twin View Estates, LLC, c/o Tetra Tech RMC, LLC,
1900 South Sunset Street, Suite 1-F, Longmont, Colorado 80501, for nine (9) residential lots with
E (Estate) Zone uses and one (1) common open space outlot (10.95 acres) - Twin View Estates
PUD, for a parcel of land located on the following described real estate, to -wit:
Lot B of Recorded Exemption #2953; being part of
the SW1 /4 of Section 5, Township 4 North, Range 68
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 Loveland Peaks, LLC, with terms and conditions being
as stated in said agreement, and
WHEREAS, the Board has been presented with Irrevocable Letter of Credit #1030 from
United Western Bank, 2420 East Harmony Road, Fort Collins, Colorado 80528, in the amount of
$448,477.00, and
WHEREAS, after review, the Board deems it advisable to approve said agreement and
accept said Irrevocable 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 Loveland Peaks, LLC, be,
and hereby is, approved.
2009-1395
PL1829
00: Pt,f'e-o,
IMPROVEMENTS AGREEMENT - LOVELAND PEAKS,LLC
PAGE 2
BE IT FURTHER RESOLVED that Irrevocable Letter of Credit #1030 from United Western
Bank, 2420 East Harmony Road, Fort Collins, Colorado 80528, in the amount of $448,4771.00, be
and hereby is, accepted.
The above and foregoing Resolution was, on motion duly made and seconded, adopted by
the following vote on the 17th day of June, A.D., 2009.
BOARD OF CTY COMMISSIONERS
WELD C,QU,N : ORADO
ATTEST:
Weld County Clerk t
BY:
Deputy Clerk to the
VAS TO :
ounty Attor ey
Date of signature Q0 o
William F. Garcia, 'Jr
glas ' - .emacher, "ro-Tem
Se a L )K�P. Conway
�rarbaKirk
EXCUSED
David E. Long
2009-1395
PL1829
MEMORANDUM
!Pc
TO: Board of County Commissioners
DATE: June 8, 2009
FROM: Michelle Martin
SUBJECT: PF-1085
The Department of Planning Services received two letters of credit for the on -site and off -site
Improvements for PF-1085, A Planned Unit Development for nine (9) lots with (E) Estate uses
and one (1) common open space outlot Twin View Estates PUD.
The collateral for the on -site Improvements Agreement is in the amount of four hundred forty
eight thousand four hundred seventy seven dollars ($448,477.00).
The collateral for the off -site Improvements Agreement is in the amount of twenty one thousand
six hundred fifty one dollars ($21,651.00).
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 agreements will
be sufficient to complete the on -site and off -site improvements required for PF-1085.
2009-1395
Att.
111k.
COLORADO
MEMORANDUM
TO: Michelle Martin, Planning Services
DATE: 6/3/2009
FROM: Don Dunker, P.E., Public Works Department
SUBJECT: Twin View Estates — (PF-1085) — On -site and Off -site
Improvements Agreements
Weld County Public Works Department has received signed copies of both the On -site and Off -
site Improvements Agreements, along with the associated collateral.
Recommendation:
The Department of Public Works finds the documents to be acceptable and recommends approval
of these documents by the Board of County Commissioners.
C:ADocuments and Settings MmartinALocal Settings\Temporary Internet Files VOLK88VPF-1085 Twin View Estates- MEMO.doc
IMPROVEMENTS AGREEMENT ACCORDING TO
POLICY REGARDING COLLATERAL FOR IMPROVEMENTS
440 (PRIVATE ROAD MAINTENANCE)
THIS AGREEMENT, made and entered into this I/i day of .3 A Zi , 201a, by and between
the County of Weld, State of Colored o, acting through its Board ofCounty Commissioners, hereinafter c ailed"County,"
and &ovttamd p,00i'a5,I / C'_ 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:
Tw , rt
►/'t_etta sroks
fee a x e.-ke_d to_ rani ob stuiloti axe
WHEREAS, a Final Subdivision/Planned Unit Development (PUD) plat of said property, to be known as
II. jr VTe,a) fihas been submitted totbeCountyfor approval, and
WHEREAS, relevant Sections of the Weld County Code provide that no Subdivision Final Plat, Planned Unit
Development Final Plat, or Site Plan shall be approved by the County until the Applicant has submitted a Subdivision
Improvement Agreement guaranteeingtheconstructionof the pub lie improvements shown on plans, plats and supporting
docum ants of the Subdivision Final Plat, Planned Unit Development Final Plat, or Site Plan, which improvements, along
with a time schedule for completion, are listed in Exhib its "A" and "B" o f this Agreement.
NOW, THEREFORE, IN CONSlDERATION OF the foregoing and of the acceptance and approval of said
Final Plat, the parties hereto prom isc, 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 Subdivision or Planned Unit Development improvements listed on Bxhib it
'A," which is attached hereto and incorporated herein by reference.
1.1
The required engineering services shallbe performed bya 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 impro vements.
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.
1.3 Applicant shall furnish drawings and cost estimates for roads within the Subdivision or Planned Unit
Development to the County for approval prior to the letting of any construction contract Applicant
shall furnish one set of reproducible "as -built" drawings and a final statement of construction cost to
the County.
2.0 Rights -of -Way and Easements: Before commencing the construction of any improvements herein agreed upon,
Applicant shall acquire, at it own expense, good and sufficient rights -of -way and easements on all lands and
facilities traversed by the proposed improvements.
3.0 Construction: Applicant shall furnish and install, at its own expense, the Subdivision or Planned Unit
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Development 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 rethrence.
3.1 Said construction shall be in strictconformance to the plans and drawings approved by the County and
the specifications adopted by the County for such public improvements. Whenever a Subdivision or
Planned Unit Development 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 Subdivision or Planned Unit Development
is proposed, 0rerequirements 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 companypreviously 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 be 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 Subdivision or Planned Unit Development improvements shall be completed, according to the
terms of this Agreement within the construction schedale appearing in Exhibit "B." The Board of
County Commissioners, at its option, may giant an extension of the time of completion shown on
Exhibit "B" 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 Countymay sufer as a result ofall suits, actions or claims of everynature and description caused
by, arising from,or on account of said design and construction oflmprov ements, and pay any and all judgments
rendered againstthe 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 oaused by, or arises out of the negligence of the County or its officers, agents, empbyees, 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, All 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 of the State of Colorado governing occupational safety and health.
(THERE IS NO SECTION 5)
6.0 Approval of Streets by the County: Upon compliance with the following procedures by the Applicant, streets
within a Subdivision or Planned Unit Development may be approved by the County as public roads and will
be maintained and repaired by a Homeowners Association or, in its absence, the owners of lots within the
Subdivision or Planned Unit D eveiopment
6.1 If desired by the County, portions of street improvements may be placed in service when completed
according to the schedule shown on Exhibit "B," but such use and operation shall not constitute an
approval of said portions.
2
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62 County may, at i4 option, issue 6uilding permits far construclion on bts for wltich sireet �
impmvamems deteiled herem have been started but not mmpleted as shown on fixhibit"$,"end may �
con[iauetoissuebuildingpumitssolongaslheprogressofworkontheSubdivisionorPlannedUnit �
Development improvem enb in that phese of the development ie satisfactary to the C onnty;and all
tecros of this Agreement have been faithfu 1ly kept by Ap plicent. j
63 UpoacompletionofiheconslructionofslreetswithinaSubdivisionorPlannedUnitDovelopmeataad I
the filing af a Statement of Substantial Compliance,the applicant(s)may request in writmg t6at fhe i
ComtyBnginecrit5pectiAsslmalsandiccommeqdthattheBoardofCuuntyCommisaionarspectially �
epprove fLew. Not sooner than nine mon7hs aftar pariial appraval,the Cowdy$¢girear sha➢,upan �
request by lhe applicaat,inepec[the subject arcets,and aotit�j 4�o applicant(s)oP any de�ciencies.
The Counry Engineer shall reinspect Ihe streeU afler notificafion from the applicant(s) that aay
deficiencies have heen corrected. If the County Enginoec fi�ds ihat the strects ere constructed
accordingtoCounTyatandards,heorsheshapmcommcndfullappmval. Uponereceiptofapoeitive !
unquali fied reeommendation from the Comty Engineer for approval of stzects withinthe development,
the Board of CouaTy Comm issione�s ihall fully appcove said streets as pub lic but with private pay. �
i
7.0 Ceneral Aeouirementa for Collateml: I
9.1 The value of ell codateral rubmi4ed lo Weld Counfy must be equivalant to One-Hundred percent
(100°/a)oF tho raluc of ffic improvemems es�own in 6iis Agremient. Pr'nr to Fi¢sl Plat approvel, ;
the applicant ehell indicafe which of the Crve types of eollateral proferred to be uGGzed tn secnre the
improvements subject to f aal approvfll by ihe Hoard of County Commisvioners and tlee e�cution of
tltis Agraement. Accepta6le collaterel chall be submdted and thc plat recorded withia six(6)monlLs (
of thc Final Plat approval. If acceptabla colletetal has nol been submitted wiUtia aix(G)moaths then i
[he Final Plnt epproval and al1 preliminary approvals shall automalically expire. Applioant may i
tequest that Na Caunty extend the Cinal Plateppi�oval pravided the cost esGmatas areupdated aud the I
development plana aze ceviud to wmply with all cusent Counly atandards,policics andtegvlaUons. �
Theimnrovementsshallbecomnfetedwidfinone(7)yeuraf+�reAeFirta[Pfa[auproval(notonevear �
afier aecentab(e co(laeera/ Is eubmtned)aidess the aanl�cant(s) reoueata�hat this Arreement be
.gnewedytleast d�irry/30)days vrkr to 'ta expiratlon a d Po de nro ida that ca�eardnates(or
th 'n'r " a o ements are uadated¢nd collatera(ia tlrovided in the pmouni oJOne-H d d
p¢rcenr/100%)qfrhe 1 eolAe ' t mP af , gr b o Rj t d. Ifimprovemen7sa[enot
completed end the agreement not rouewed wlthin these tffio&amcs,ihe County,atits diac�etion,may
maka dem�d on all or a portion o fthe collat�al and takc stops to see ihai 1Le impmvaments are made.
I
I
7.2 Theapplicentmaychoosemprovidefoxaphaseddavelopmantbymeaneofdesignalingfilingsofa �
Plsnned Unit Devalopmeut Final Plat or Subdivisian Pinal Plal Th@ applicant would need only ta
providecol�ateratfortheimprovemen4mcachfiliagasapproved. TheCnmtywiilplacemslrictions
on thoca portions oftheproperty i6at are not covered by collatetal whieh will proLibit the canvayaace
of ihe pcopariy or the 3asuenco of building p eEmits until coDateral ia p(ovided or wotil improvemenis
azc in place and approved pursuent to thc requiremenu fo�a Requeat For Release of Collateral. I
j
?3 1'he ap plicant intends to devela p ia accordencc with E�ibite"A" and"B." �
8.0 Imurovements Gnarantee: The five types of coliateml lismd bclow are acccptab le ta Wctd County subject to i
finAl approvfll by t1�e Board of County Commissioners. I
8.1 An icrevocable Leticr of Credit from a Federal or Stete licenud Fmanaial institution on a fornt I
approved by We1d C ounly. The Letter ofCrtdit sha119ate at leas[E�e failowing:
8.1.1 TLe Leticr of Crcdit sNell be in en amount equivek�nt of Oao-Huadred pucent(100%)of Ne
total value of the improvemeots as eet foRh in Section 6.0 and Hz6ibits"A"and"B."
8.1.2 TheLetterofCreditshatlpmvideforpaymentupondemandtoWeldCountyif4edeveloper I
has not perfoxmad�he obligation e apwified ia fhe Improvements Ageeement and the icsuax
3 I
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has been notified of such default.
8.1.3 The applicant may draw from the Letter of Credit in accordance with the provisions of this
policy.
8.1.4 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
estimatedcosts of completing the uncompleted portions of therequiredimprovements, based
on inspections of the development b y 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.
8.1.5 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.
8.1.6 The Letterof Credit shallspecifythatthe deteof 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 Flat 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 be sect by certified mail to the Clerk to the Board
of County Commissioners.
8.2 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:
8.2.1 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 tat the value of the
property encumbered in its current degree of development is sufficient to cover One -Hundred
percent (100%) o f the cost of the improvements as set forth in the Improvements Agreement
plus all costs of sale of the property.
8.2.2 In the event property other thanthe 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 -Hundred percent (100%) of the
cost of the improvements as set forth in the Improvements Agreement plus all costs of sale
of the property.
8.2.3 A title insurance policy insuring that the Trust Deed creates a valid encumbrance which is
senior to all other liens and encumbrances.
8.2.4 A building permit hold shall be placed on the encumbered property.
83 Escrow Agreement that provides at least the following:
8.3.1 The cash in escrow is at least equal to One -Hundred percent (100%) of the amount specified
in the Improvements Agreement.
8.3.2 The escrow agent guarantees that the escrowed fiords will be used for improvements as
specified in the agreementand for no other purpose and will not release any portion of such
funds without prior approval of the Weld County Board of Commissioners.
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8.3.3 The escrow agent will be a Federal or state -licensed bank or financial institution
8.3.4 If Weld County determines there is a default of the Improvements Agreement, the escrow
agent, upon request by the Co unty, shall release any remaining es crowed funds to the County.
8.4 A surety bond given by a corporate surety authorized to do business in the Sate of Colorado in an
amount equivalent to One -Hundred percent (100%) of the value of the improvements as specified m
the Improvements Agreement.
8.5 A cosh deposit made with the County equivalent to One -Hundred percent(100%) of the value of the
improvements.
9.0 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:
9.1 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_
9.2 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 (CD OT) Materials Manual.
9.3 "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.
9.4 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.
9.5 A letter must be submitted from the appropriate Fire Authorityindicating the fire hydrants are 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.
9.6 The requirements in paragraphs 9.0 thin 9.5 shall be noted on the final construction plans.
9.7 Following the submittalof the Statement of Substantial Compliance and recommendation of approval
of the streets 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.
9.8 The request for release of collateral shall he accompanied by "Warranty Collateral" in the amountof
fifteen percent (15%) of the value of the improvements as shown in this Agreement excluding
improvements fully accepted for maintenance by theresponsible governmental entity, special district
or utility company.
9.9 The warranty collateral shall be released to the applicant upon final approval by the B oard of County
Commissioners.
10.0 Public Sites and Open Spaces: When the Board ofCountyCommissioners, pursuant toarezoning,Subdivision
or Planned Unit Development, requires the dedication, development and/or reservation of areas or sits other
than Subdivision or Planned Unit Development streets and utility easements of a character, extent and location
suitable for public use for parks, greenbelts o r schools, said actions shall he secured in accordanccwith one of
5
i inui nin uuu uuu iii uui mini iii nm iui ini
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the following alternatives, or as specified in the Planned Unit Development (PUD) Plan, if any:
10.1 The required acreage as may be determined according to the Weld County Subdivision Regulations
shall be dedicated to the County or the appropriate school district, for one of the above purposes. Any
area so dedicated shall be maintained by the County or school district.
10.2 The required acreage as determined according to Chapter 24 of the Weld County Code, may be
reservedthrough deed restrictions as open area, the maintenance of which shall be a s pecific obligation
in the deed of each lot within the Subdivision or Planned Unit Development.
10.3 In lieu of laud, the County may require a payment to the County in an amount equal to the market
value at the time of Final Plat submission of the required acreage as determined accordingto Chapter
24 of the Weld County Code. Such value shall be determined by a competent land appraiser chosen
jointly by the Board and the Applicant. The cash collected shall be deposited in an escrow account
to be expended for parks ate later date.
11.0 Successors and Assigns: This Agreement shall be binding upon the heirs, executors, personal representatives,
successors and assigns of the Applicant, andupon 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.
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IN WITNESS WHEREOF, the parties hereto have caused this Agreementto be executed ontheday and year
first above written.
APPLICANT: L oil It7'Vfr /P/'I .C,0
Gritp
APPLICANT:
TITLE:
Subscribed and sworn to before me this 1 7 day of Pt alt/ 20 07.
My Commission expires:
( -/a -201
ATTEST:
Weld County Clerk to
he
BY:✓jr /"'mit may;
r Deputy Clerkly the : card
APPROVED AS TO FORM:
County Attorney
Notary Public
MY COMMISSION EXPIRES:
January 10, 2011
BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLORADO
illiam F. Garcia ,Chair
AEI�\I% 111111111111111111111 I% I%\ III 111111111 Ille r
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JUN 1 7 2009
EXHIBIT "A"
Name of Subdivision
Or Planned Unit Development: TWIN VIEW ESTATES
Filing: N/A
Location: Lot B of RE -2953, situated in a portion of the SW4 of Section 5, Township 4N, Range 68W
of the 6th P.M., Weld County, Colorado
Intending to be legally bound, the undersigned Applicant hereby agrees to provide throughout this
Subdivision or Planned Unit Development the following improvements. (Leave spaces blank where they
do not apply)
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Improvements
Quantity Units
Unit
Costs
Estimated
Construction Cost
Site grading
23,200
CY
$2.00
S46,400
Street grading
4,630
CY
S3.00
S13,890
Street base (Class 6)
1,774
TON
S11.11
S 19,709
Street paving (3" HBP min)
979
TON
S56.00
$54,824
Curbs. gutters, and culverts
1
LS
$64,177
$64,177
Sidewalk
N/A
Storm sewer facilities
N/A
Detention ponds
I
LS
S36,315
S36,315
Ditch Improvements
N/A
Subsurface drainage
N/A
Sanitary sewers
N/A
Tnunk and forced lines
NiA
Mains
N/A
Laterals (house connected)
N/A
On -site sewage facilities
N/A
On -site water supply and storage
N/A
Water Mains (includes bore)
1
LS
S74,028
S74,028
Fire hydrants
2
EA
S2,000
S4,000
Survey and street monuments and boxes
I
LS
S2,000
S2,000
Street lighting and student pick up area
1
EA
S?,850
S2,850
Street Names
1
LS
$1,500
51,500
Sianage and Mailboxes
1
EA
S3,750
S3,750
Landscaping
1
LS
S400
S400
Park improvements
N/A
Road culvert
Included
Above
Grass lined wale
1
LS
S24,000
S24,000
Telephone
2000
LF
S 10
S20,000
Gas
2000
LF
S 10
S20,000
Electric
2000
LF
S10
S20,000
Water transfer
N/A
SUB -TOTAL:
S407,843
Engineering and Supervision Costs S
S40,634
(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 S S448,477
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 improvements shall be cot d according to the construction schedule set out in Exhibit
.B„
Bv:
A....l 0a'5 4 G ,lfc(6RT �`j Tr
4
Title
Date: / /p Ae , 20 Of .
(If corporation, to be signed by President and attested to by Secretary, together with corporate
seal.)
111111 11111 111111 111111 III VIII 111111 III III 1111 IIII
3633440 06/30/2009 11:52A Weld County, CO
9 of 11 R 0.00 0 0.00 Steve Moreno Clerk & Recorder
EXHIBIT "B"
Name of Subdivision
or Planned Unit Development: TWIN VIEW ESTATES
Filing: n/a
Location: Lot B of RE -2953, situate in a portion of the SW4 of Section 5, Township 4N, Range 68W of
the 6th P.M., Weld County, Colorado
All improvements shall be completed within 3 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 grading
Street base
Street paving
Curbs, gutters, and culverts
Sidewalk
Storm sewer facilities
Detention ponds
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
Fire hydrants
Survey and street monuments and boxes
Street lighting and student pick up area
Street name signs
Landscaping
Park improvements
Road culvert
Grass lined swale
Telephone
Gas
Electric
Water transfer
1 111111 11111 111111 111111 11111111 1111111 III 111111 It III I
3633440 06/30/2009 11:62A Weld County, CO
10 of 11 R 0.00 D 0.00 Steve Moreno Clerk & Recorder
May 29, 2012
May 29, 2012
May 29, 2012
May 29, 2012
May 29, 2012
May 29, 2012
May 29, 2012
May 29, 2012
May 29, 2012
May 29, 2012
May 29, 2012
May 29, 2012
May 29, 2012
May 29, 2012
Mav 29, 2012
May 29, 2012
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 cannot be m
B
lican
M( (fit 6y f�-
Applicant
Mawr Date:
Title
20 07
(If corporation, to be signed by President and attested to by Secretary, together with corporate seal.)
111111111111111111111111III111111111111III BIII III1111
3633440 06/30/2009 11:52A Weld County, CO
11 of 11 R 0.00 D 0.00 Steve Moreno Clerk & Recorder
UNITED
WESTERN
BANK
May 4, 2009
Board of County Commissioners
Attn: Clerk to the Board
PO Box 758
Greeley, CO 80632
Re: Loveland Peaks, LI,C
Dear
We hereby issue our Irrevocable Letter of Credit in your favor for the account of Loveland Peaks,
608 E Harmony, Suite 203, Fort Collins, CO 80525, for a sum not to exceed the aggregate of $448,477.00
(Four Hundred Forty-eight thousand, Four hundred Seventy-seven dollars and no/100).
Each draft so drawn must be marked "Drawn under UNITED WESTERN BANK, 2420 E HARMONY
ROAD, FORT COLLINS, CO 80525, Letter of Credit No. 1030" and be accompanied by a signed
statement from the Board of County Commissioners of Weld County, Colorado stating that "the Loveland
Peaks, LLC has committed a material breach of the Improvements Agreement According to Policy
Regarding Collateral for Improvements regarding dated the day of
20 , by and between Loveland Peaks, LLC; and the Board of County Commissioners of the County of
Weld." Such draft is accompanied by this original Letter of Credit.
This credit is subject, so far as applicable, to "The Uniform Customs and Practice for Documentary Credits,
1993 Revision, The International Chamber of Commerce Publication No. 500."
We hereby agree with you that all drafts drawn under and in compliance with the terms of this credit will
be duly honored and presented for payment to our main office, UNITED WESTERN BANK, 2420 E
HARMONY ROAD, FORT COLLINS, CO 80528. This letter of credit will expire on May 4, 2010 at 5:00
P.M.
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
UNITED WESTERN 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 the following: (a) a draft at sight on
UNITED WESTERN 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 UNITED WESTERN
BANK that the Letter of Credit No.1030 will not be renewed and that 1oveland Peaks. LLC has failed to
provide proof of adequate collateral and substitution of this Letter of Credit No. 1030; (c) copy of letter
from UNITED WESTERN BANK stating non -renewal of Letter of Credit No. 1030 and the original letter
of credit.
Yours truly, £%et
Cindy Sterett
Senior Vice President
United Western Bank
2420 E Harmony Road • Fort Collins, CO 80528
tel: 970-226-8460 • fax: 970-226-8461
www.uwbank.com
Aug 29 08 O8:31a
•
•
p.'
GOPHER EXCAVATION, INC.
PO Box 1079
BERTHOUD, CO 80513
970-532-1112
Name / Address
Lovland Peaks LLC
2219 Smallwood Drive
Fort Collins, Colorado 80528
970-412-4022 p 97d -797-/i/D
Estimate
Date
Estimate #
8/29/2008
08-136
Project
Description
Qty
Cost
Total
All Work Is Located At Twin View Estates North East Corner Of
WCR 3 & WCR 48
Tetra Tech RMC Job # 80-5192.001.00
I. Entrance Sign Approximate 35 Sq Ft In Made Of Flagstone With
Night -Time Light
2. Student Pick -Up Area And Light Pole Pick Up Area To Be
Constructed Of Corrugated Steel With Aluminum Bench. Light Pole
Will Be 25' In Length & Equipped With Night Time Photo Eye.
I
1
3,750.00
2,850.00
3,750.00
2,850.00
Thank You For The Opportunity To Quote You Work
Total 56.600.00
‘attri
COLORADO
March 18, 2010
Attn: Cindy Sterett
United Western Bank
2420 East Harmony Road
Fort Collins, Colorado 80528
RE: Letters of Credit #1030 and #1031 — Loveland Peaks, LLC
CLERK TO THE BOARD
PHONE (970) 336-7215, Ext. 4225
FAX: (970) 352-0242
P. O. BOX 758
GREELEY, COLORADO 80632
Ladies and Gentlemen:
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 4th day of May, 2009, United Western Bank, issued two (2) Letters of Credit
on behalf of Loveland Peaks, LLC, naming the Board of County Commissioners of Weld County,
Colorado as beneficiary. The dollar amount of the Letters of Credit were established at Four Hundred
Forty-eight thousand Four Hundred Seventy-seven ($448,477.00) and Twenty-one Thousand Six
Hundred Fifty-one Dollars (21,651.00) respectively.
The terms of the Letters of Credit require that it be maintained by your institution until the 4th day of
May, 2010. If your institution intends to terminate its obligations under the Letters 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 Letters of Credit will remain in force.
If you have any questions regarding this letter or your obligations under the Letters of Credit, or if you
disagree with any of the statements contained herein, please call Donna Bechler, at 970-336-7215,
ext. 4227, or e-mail me at dbechler@co.weld.co.us.
Very truly yours,
Bruce T. Barker
Clerk to the Board
By:.; ieji/Ve
Deputy Clerk to
pc Loveland Peaks, LLC
CLERK TO THE BOARD
PHONE (970) 336-7215, Ext. 4227
FAX: (970) 352-0242
P. O. BOX 758
GREELEY, COLORADO 80632
WELDL...e0UNTY
I I
March 7, 2011
Attn: Cindy Sterett
United Western Bank
2420 East Harmony Road
Fort Collins, Colorado 80528
RE: Letters of Credit #1030 and #1031 — Loveland Peaks, LLC
Ladies and Gentlemen:
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 4th day of May, 2009, United Western Bank, issued two (2) Letters of Credit on
behalf of Loveland Peaks, LLC, naming the Board of County Commissioners of Weld County, Colorado as
beneficiary. The dollar amount of the Letters of Credit were established at Four Hundred Forty-eight
thousand Four Hundred Seventy-seven ($448,477.00) and Twenty-one Thousand Six Hundred Fifty-one
Dollars (21,651.00) respectively.
The terms of the Letters of Credit require that it be maintained by your institution until the 4th day of May,
2010. We did not receive a reply from you in 2010 stating you wished to terminate your obligations,
therefore, the terms of the Letter of Credit were extended until May 4, 2011. According to the Weld County
Departments of Planning Services and Public Works, the improvements on the property have not taken
place at this time, and the Letter of Credit needs to be maintained until 6/17/2019, or until the improvements
take place, whichever occurs first. If your institution intends to terminate its obligations under the Letters 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 Letters of Credit will remain in force. Therefore, as
your institution did not provide notice of termination prior to March 4, 2011, the Letter of Credit will remain in
force until at least May 4, 2012.
If you have any questions regarding this letter or your obligations under the Letters of Credit, or if you
disagree with any of the statements contained herein, please call Donna Bechler, at 970-336-7215,
ext. 4227, or e-mail me at dbechler@co.weld.co.us.
Very yours,
Bruce T. Barker
Clerk to the Board
By:
Deputy Clerk'fo the Board
pc Loveland Peaks, LLC
?o(-/3
First Citizens
Bank
May 17, 2012
Board of County Commissioners
Attn: Clerk to the Board
PO Box 758
Greeley, CO 80632
First -Citizens Bank & Trust Company
International Banking Services — DAC44
100 East Tryon Road
PO Box 27131 (27611-7131)
Raleigh, North Carolina 27603 USA
SWIFT FCBTUS33
Telephone 919.716.2887
Telefacsimile 919.772.1037
Re: Our Irrevocable Stand-by Letter of Credit Number SB93680
For the account of Loveland Peaks, LLC
Amount: $448,477.00
Amendment Number 1
Ladies and Gentlemen:
We hereby amend our Irrevocable Stand-by Letter of Credit SB93680 in your
favor as follows:
Effective January 2 t, 201i 1 the issuing bank's name in the letter of
credit is amended to First -Citizens Bank 8r, Trust Company and draft(s)
presented for drawing under this letter of credit must be drawn on
First -Citizens Batik Ac Tnist Company, lnternational Banking Services-
DAC44, 100 East Tynan Road, Raleigh, NC 27603.
- Letter of Credit Number now reads: SB93680
This amendment is to be considered a part of irrevocable Stand-by Letter of
Credit Number SB93680 and must be attached thereto. All other terms and
conditions remain the same.
Siru'er- l\,
Authorize, Sign, re
(919)716-/617
First Citizens
Bank
February 26, 2013
Board of County Commissioners
Attn: Clerk to the Board
PO Box 758
Greeley, CO 80632
RE: Our Irrevocable Stand -By Letter of Credit Number SB93680
For The Account of Loveland Peaks, LLC
Amount: $448,477.00
Ladies and Gentlemen:
First -Citizens Bank & Trust Company
International Banking Services — DAC44
100 East Tryon Road
PO Box 27131 (27611-7131)
Raleigh, North Carolina 27603 USA
SWIFT FCBTUS33
Telephone 919.716.2887
Telefacsimile 919.772.1037
RECEIVED
FE2272013
� dELD COUNTY
:;;OAMA S" IONFRS
Please be advised that we have elected not to renew the above -referenced Letter of Credit.
Consequently, it will expire on its current expiration date of May 4, 2013.
Sincerely,
tpt.biL 0-trOkri?
Authorized Signature
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