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HomeMy WebLinkAbout20081719.tiff 126 RESOLUTION RE: APPROVE CANCELLATION AND RELEASE OF COLLATERAL FOR SITE PLAN REVIEW, SPR #408 - APOLLO, LLC, C/O KEVIN CONLON 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 February 14, 2007, the Department of Planning Services approved the application of Apollo, LLC, c/o Kevin Conlon, 13750 Deere Court, Longmont, Colorado 80504, for Manufacturing, Indoor Construction,Storage,Shop Offices,Warehouse,and Retail and Wholesale Sales on the following described real estate, to wit: Lot 10, Block 2, Amended Plat of Rademacher Business Park Final Planned Unit Development; 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 27, 2007, 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 Apollo, LLC, do Kevin Conlon with terms and conditions being as stated in said agreement, and accepted Irrevocable Standby Letter of Credit No. 6029, drawn on Centennial Bank of the West, 4650 Royal Vista Circle, Fort Collins, Colorado 80528, in the amount of$184,808.00, 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. 6029, drawn on Centennial Bank of the West, in the amount of $184,808.00 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. I 1111111111 111111 111111 III 111111 111111 III 11111 llll I'll 3567726 07/22/2008 03:53P Weld County, CO 1 of 2 R 0.00 0 0.00 Steve Moreno Clerk & Recorder 2008-1719 PL1923 ('e- : AAo1lo/ /l)& ,7c l`:a)t,»n61 Jt,J L1 O 7 - CANCEL COLLATERAL -APOLLO, LLC, C/O KEVIN CONLON PAGE 2 The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 16th day of June, A.D., 2008. BOARD OF COUNTY COMMISSIONERS flu/ I��A La " WELD COUNTY, COLORADO ATTEST: ,I�/ //,. q ; GL, �1MI ''4t64 a, Wi 'am H. Jerke, Chair Weld County Clerk to t ! B. at, '' tl/ �;AN. Robert a asden, Pro-Tem Deg" ty Cler o the Board 1..-b ,�, Wi a L:Garcia JP D AS, RM: David E. Long Coun y Attorney ougla ademach r Date of signature: 6211(Pkt I111111VIII IIIIIIVIIII III 111111 DIE III 11111IIII1111 3567726 07/22/2008 03:53P Weld County, CO 2 of 2 R 0.00 D 0.00 Steve Moreno Clerk & Recorder 2008-1719 PL1923 ‘it , Avig MEMORANDUM �. TO: Board of County Commissioners June 10, 2008 COLORADO FROM: Jacqueline Hatch SUBJECT: Site Plan Review 408, Apollo LLC The applicant for SPR-408, Jerry Johnson has submitted the attached e-mail dated May 14, 2008 and June 3, 2008. The applicant is requesting a full release of collateral. The Departments of Planning Services and Public Works have conducted a site visit for compliance and finds that the site is in compliance with the recorded plat. The SPR-408 was administratively approved by the Department of Planning Services on February 14, 2007. Staff is recommending that the request for release of collateral for one hundred and eighty four thousand eight hundred and eight dollars ($184,808.00) be approved at this time since the site is in compliance with the Weld County Code and the recorded SPR-408 plat. • IND ) C.) 2008-1719 Jacqueline Hatch , f From: Don Dunker Sent: Tuesday, June 10, 2008 3:03 PM To: jjohnson@maverickinc.biz Cc: Jacqueline Hatch; Don Dunker; Davic er; Donald Carroll; Kim Ogle Subject: SPR-408 - Update Jerry, After consulting with Planning and Dave Bauer, Weld County Engineer P Works will agree to release 100% of all Public Works related items. You must un..derccand that Lot 9 will require erosion control and safety mitigation until all of the :.._nf .nis-ed Stems are completed. You agreed to do this continued maintenance in an ear'__.Flr _mai: dated June 3, 2008 . Once development of lot 9 resumes these unfinished items (t<: sets of inlet cp.rates and curb and gutter and one complete inlet installed at the NF _orner of the loft will be required to have collateral posted for them. All other r.=,w construction hams for lot 9 will also require collateral being posted per a new Pri-.a,:e Road Maintera-cce Agreement and* Exhibit "A" signed between the Developer of the lot a....-. the County. 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@co.weld.co.us 1 Jacqueline Hatch From: Jacqueline Hatch Sent: Tuesday, June 10, 2008 3:08 PM To: Jacqueline Hatch Subject: FW: SPR-408 Original Message From: Jerry Johnson [mailto:jjohnson@maverickinc.bi Sent: Monday, June 09, 2008 2 :03 PM To: Jacqueline Hatch Subject: FW: SPR-408 This is what I sent Don on the June 3, 2008. Thank you, Jerry Johnson Maverick Enterprises, Inc. 4051 Camelot Circle Longmont, CO 80504 Direct 970 535-3206 Main 970 535-9199 ext 3206 Fax 970 535-9299 http://www.maverickinc.biz/ jjohnson@maverickinc.biz Confidential statement: This e-mail message and am .accompany.-' :.g documents contain information that is privileged, confidential and ir ended only for the use of the sb=-. r. named recipient. If the reader of this message not the intended recipient, you a hereby notified that any dissemination, distribr in, printing or copying of this me3;4t4,..;,_; is prohibited. If you have received this mess de in error, please immedia' of A.c:gZu : by telephone or return the e-mail message to !.... Thank you. Original Message From: Jerry Johnson Sent: Tuesday, June 03, 2008 7 :55 AM To: 'Don Dunker' Subject: RE: SPR-408 Don, Apollo LLC has purchased lot 9 which is north of lot 10 . v, 11 m _stain the lot inlets as needed. There is no plan to develop lot 9 at i ,_ J time. .y name and numb - listed below. I work for Maverick Enterprises, Inc and. '@_Jollo L?. . so this is the c information. Thank you, Jerry Johnson Maverick Enterprises, Inc. _ 4051 Camelot Circle Longmont, CO 80504 Direct 970 535-3206 Main 970 535-9199 ext 3206 Fax 970 535-9299 http://www.maverickinc.biz/ jjohnson@maverickinc.biz 1 - message and a - accompanying Confidential stat ement: This e-mail mes 2, documents contains g I information that is privileged, confidential and :,:_ended only for the use of the abam named recipient. If the reader of this messag,_, s not the intended recap , . you a hereby notified that any dissemination, distr Trion, printing or copying is prohibited. If you have received this me.- .aate in error, please immer'__.. n. ._i. _y by telephone or return the e-mail message to r.-. . 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GREELEY, COLORADO 80632 COLORADO June 17, 2008 ATTN; KEVIN CONLON APOLLO, LLC 13750 DEERE COURT LONGMONT, COLORADO 80504 RE: Cancellation and release of Collateral for Apollo, LLC Mr. Conlon: On June 16, 2008, the Board of County Commissioners approved the cancellation and release of collateral for SPR#408, in the amount of$184,808.00, 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 Irrevocable Letter of Credit has been returned to Centennial Bank of the West. 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 /2 By: ' o na J. Bech Deputy Clerk to the Board cc: Jerry Johnson , p ilite CLERK TO THE BOARD PHONE (970)336-7215, Ext. 4225 FAX: (970) 352-0242 P. O. BOX 758 C. GREELEY, COLORADO 80632 COLORADO June 17, 2008 ATTN; CHRISTOPHER MCVAY ASSISTANT VICE PRESIDENT CENTENNIAL BANK OF THE WEST 4650 ROYAL VISTA CIRCLE FORT COLLINS, COLORADO 80528 RE: Cancellation and release of Collateral - Apollo, LLC To Whom it may Concern: Attached hereto please find the Board of County Commissioners Resolution releasing the collateral for Apollo, LLC, and the original Irrevocable Letter of Credit issued by Centennial Bank of the West issuing collateral, in the amount of$184,808.00. 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 y By: Z %ty , Donna J. Becbter, Deputy Clerk to the Board ° e e' ey e y e,"( o °a` CENTENNIAL y'Yaea•G°O{`r \ ,,°e Bank of the West e ;a°� °� �° IRREVOCABLE STANDBY LETTER OF CREDIT y1�y NO. 6029 � i .9e4v � DATE OF ISSUE: August 9, 2007 AMOUNT: $184,808.00 EXPIRY DATE: August 9, 2008 at our counters 3:00PM Beneficiary: BOARD OF COUNTY COMMISSIONERS WELD COUNTY, COLORADO P.O. Box 758 Greeley, CO 80632 Gentlemen: We hereby issue our Irrevocable Standby Letter of Credit for the account of APOLLO, LLC, ("Customer") 13750 Deere Court, Longmont, CO 80504 in your favor in the aggregate amount not exceeding ONE HUNDRED EIGHTY FOUR THOUSAND EIGHT HUNDRED EIGHT AND 00/100THS US Dollars (USD$184,808.00). Funds under this credit are available with CENTENNIAL BANK OF THE WEST by payment against presentation of your sight draft(s) drawn on us, at our office, on or before the expiry date when accompanied by the following: 1. This Original Letter of Credit. 2. Statement, purportedly signed by an authorized representative of the Board of County Commissioners of Weld County, Colorado stating that: "Apollo, LLC has failed to complete their obligations as specified in that certain Agreement between Apollo, LLC and the Board of County Commissioners of Weld County and that Weld County is entitled to draw on this Letter of Credit". This statement, signed by the beneficiary pursuant to the preceding paragraph, shall be conclusive to such matters. This Letter of Credit is automatically extended without amendment, for additional one year periods from the current expiration or any future expiration date unless at least sixty (60) days prior to such current expiration date CENTENNIAL BANK OF THE WEST notifies the 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) a draft a sight on CENTENNIAL BANK OF THE WEST; (b) a statement purportedly signed by an official of the Board of County Commissioners Page 2 IRREVOCABLE LETTER OF CREDIT NO. 6029 This page shall be attached to and become an integral part of the above referenced Letter of Credit of Weld County, Colorado stating that we have received notice from CENTENNIAL BANK OF THE WEST the Letter of Credit No.6029 will not be renewed and that APOLLO, LLC has failed to provide proof of adequate collateral and substitution of this Letter of Credit No.6029; (c) copy of letter from CENTENNIAL BANK OF THE WEST stating non-renewal of Letter of Credit No.6029 with the original Letter of Credit. Except as otherwise expressly stated herein this credit is subject to the Uniform Customs and Practice of Documentary Credits (2007 Revision) International Chamber of Commerce, Publication 600. Any draft presented must bear the words "Drawn under CENTENNIAL BANK OF THE WEST Irrevocable Letter of Credit No. 6029 dated August 9, 2007". In case of cancellation of this Letter of Credit prior to expiration, the original of this Letter of Credit must be returned to us for cancellation with a statement purportedly signed by the beneficiary stating that: "This Letter of Credit is no longer required by us and is hereby returned to the issuing bank for cancellation". Please address all communications regarding this Letter of Credit to the attention of Centennial Bank of the West, 4650 Royal Vista Circle, Fort Collins, CO 80528, mentioning specifically our Irrevocable Letter of Credit No. 6029, issued for the account of APOLLO, LLC. We hereby agree with drawers and endorsers, and bona fide holders of drafts negotiated under this Letter of Credit that the same shall be duly honored upon presentation and delivery of the documents as specified above. Sincerely, CENTS BANK OF THE WEST on. Christopher McVay Assistant Vice President GUARANTY BANK AND TRUST COMPANY- Notice of Non-Renewal Date: June 9, 2008 To: BOARD OF COUNTY COMISSIONERS WELD COUNTY, COLORADO P. O. Box 758 Greeley, CO 80632 RE: Letter of Credit No. #6029 Applicant: APOLLO, LLC Original Amount: $184,808.00 Current Amount: $184,808.00 To Whom It May Concern: We hereby give you notice that our Irrevocable Letter of Credit No. 6029 issued in your favor in the amount $184,808.00, will not be renewed and will therefore expire full and final on AUGUST 9, 2008. This Letter complies with the terms of the Letter of Credit, which require that we give you at least 60 day's prior notice of non-renewal. Sincerely, GUARANTY BANK AND TRUST COMPANY (Q0_16-4-ni (16'1, Deborah A. Carter Letter of Credit Administration Officer . LUG C: Apollo, LLC GBT— Larry Stauss I--r. Denver Metro 303-293-5500•Northern Colorado 970-454-4220 • www.guaranryhankco.com Hello