The URL can be used to link to this page

Browse Search

Home My WebLink About20072747 RESOLUTION RE: APPROVE IMPROVEMENTS AGREEMENT ACCORDING TO POLICY REGARDING COLLATERAL FOR IMPROVEMENTS(PRIVATE ROAD MAINTENANCE),AUTHORIZE CHAIR TO SIGN, AND ACCEPT 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 staff approved Site Plan Review, SPR#408, for 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 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 Apollo, LLC, c/o Kevin Conlon, with terms and conditions being as stated in said agreement, and WHEREAS, the Board has been presented with Irrevocable Standby Letter of Credit No.6029 from Centennial Bank of the West,4650 Royal Vista Circle, Fort Collins, Colorado 80528, in the amount of$184,808.00, 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 Apollo, LLC, c/o Kevin Conlon, be, and hereby is, approved. /1 n /� n/� 2007-2747 �0 I D L ! (�/ T! L 04L1at1r-O7 IMPROVEMENTS AGREEMENT -APOLLO, LLC, C/O KEVIN CONLON PAGE 2 BE IT FURTHER RESOLVED that Irrevocable Standby Letter of Credit No. 6029 from Centennial Bank of the West,4650 Royal Vista Circle, Fort Collins, Colorado 80528, in the amount of$184,808.00, be and hereby is, accepted. The above and foregoing Resolution was,on motion duly made and seconded,adopted by the following vote on the 27th day of August, A.D., 2007. BOARD OF COUNTY COMMISSIONERS IIGA` WELD COUNTY, COLORADO ATTEST: �I, �;^_?''L ►• -' EXCUSED 1/49 David E. Long, Chair Weld County Clerk to EXCUSED William . J2Tem BY: De y Clero the Boar WiII )FGarcia �f APP V A F M: ^� ` t Robert D.(Masden, Acting Chair Pro-Tem aunty Attorney �r R�� Douglas ademacher Date of signature: . /Z2A7 2007-2747 PL1923 • • 9i IMPROVEMENTS AGREEMENT ACCORDING TO POLICY REGARDING COLLATERAL FOR IMPROVEMENTS (PRIVATE ROAD MAINTENAN CE) THIS AGREEMENT,made and entered into this 1$thday of April , 207 , by and between the County of W eld,State of Colorado,acting through its Board of County Commissioners,hereinafter called"County," and_ ApO11O 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 10, Block 2, of the Amended Plat of Rademacher Business Park Final P.U.D. WHEREAS, a Final Subdivision/Planned Unit Development (PUD) plat of said property, to be known as Rademacher Business Park has been submitted to the County for 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 guaranteeing the construction of the public improvements shown on plans,plats and supporting documents 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" of this Agreement. NOW,THEREFORE,IN CONSIDERATION OF the foregoing and of the acceptance and approval of said Final Plat, the parties hereto prom ise, 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 Pla nned Unit Development improvements listed on Exhibit "A," which is attached hereto and incorporated herein by reference. 1.1 The required engineering services shall be performed bya Professional Engineer and Land Surveyor registered in the State of Colorado,and shall conform to the sta ndards 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. 1.3 Applicant shall furnish drawings and cost estimates for roads within the Subdivision or Planned Unit Development to the County for appro val 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 its own expense, good and sufficient rights-of-way and easements on all lands and facilities traversed by the proposed imp rovemen ts. 3.0 Construction: Applicant shall furnish and install, at its own expense, the Subdivision or Planned Unit I IIIIII VIII IIIIII III IIIIIII' IIII llllll 111 lull IIII IIII 3505994 09/21/2007 03:32P Weld County, CO 2007 2747 1 of 10 R 0.00 D 0.00 Steve Moreno Clerk& Recorder 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 reference. 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 improve rnents 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, 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 copie s 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 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 "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 County may suffer as a result ofall 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,tog ether 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. 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 Development. 6.1 If desired by the County, portions of street improvem ents may be p laced 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. loll11111111111111 III 111111111111111111 III IIIII IIII IIII 3505994 09/21/2007 03:32P Weld County, CO 2 of 10 R 0.00 D 0.00 Steve Moreno Clerk& Recorder 6.2 County may, at its option, issue building permits for construction on lots for which street improvements detailed herein have been started but not completed as shown on Exhibit"B,"and may continue to issue building permits so long as the progress o f work on the Subdivisio n or Planned Unit Development improvem ents in that phase of the development is satisfactory to the C ounty; and all terms of this Agreement have been faithfully kept by Applicant. 6.3 Upon completion of theconstruction of streets within a Subdivision or Planned Unit Development and the filing of a Statement of Substantial Compliance, the applicant(s) may request in writing that the County Engineer inspect its streets and recommend thatthe Board ofCounty Commissioners partially approve them. Not sooner than nine months after partial approval, the County Engineer shall,upon request by the applicant, inspect the subject streets,and notify the applicant(s) of any deficiencies. The County Engineer shall reinspect the streets after notification from the applicant(s) that any deficiencies have been corrected. If the County Engineer finds that the streets are constructed according to County stan dards,he or she shall recommend full approval. Upon a receipt ofa positive unqualified recommendation from the County Engineer for approval of streets withinthe development, the Board of County Comm issioners shall fully approve said streets as public but with private pay. 7.0 General Requirements for Collateral: 7.1 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 five types of collateral preferred to be utilized to secure the improvements subject to final approval by the Board ofCounty 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 Platapproval provided the cost estimates areupdated and the development plans are revised to comply with all current County standards,policies and regulations. The improvements shall be completed within one(I)year after the Fina/Plat approval(not one year after acceptable collateral is submitted) unless the applicant(s) requests that this Agreement be renewed at least thirty(30) days prior to its expiration and further provides that cost estimates for the remaining impro Yemen is are updated and collateral is provided in the amount of One-Hundred percent(l00%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 allor a portion o fthe collateral and take steps to see that the improvements are made. 7.2 The applicant may choose to provide for a phased develop ment by me ans of designating filings of a Planned Unit Development Final Plat or Subdivision Final Plat. The app licant would need only to providecollateral for the improvements in each filing as approved. The County will place restrictions on those portions of the property tha t are not covered by collateral which will prohibit the conveyance of the property or the issuance of building p ermits until collateral is provided or until impro vements are in place and approved pursuant to the requirements for a Request for Release of Collateral. 7.3 The applicant intends to develop in accordance with Exhibits "A" and "B." 8.0 Improvements Guarantee: The five types of collateral listed below are acceptable to Weld County subject to final approval by the Board of County Commissioners. 8.1 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: 8.1.1 The Letter of Credit shall be in an amount equivalent of One-Hundredpercent(100%)of the total value of the improvem ents as set forth in Section 6.C' and Exhibits "A" and "B." 8.1.2 The Letterof Credit shallprovide for paymentupon demand to Weld County if the developer has not performed the obligations specified in the Improvements Agreement and the issuer 1111111 11111 IIIIII III IIIlllll IIII 111111 III 11111 IIII IIII 3505994 09/21/2007 03:32P Weld County, CO 3 of 10 R 0.00 D 0.00 Steve Moreno Clerk& Recorder 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 State of Colorado in an amount equivalent to One-Hundred percent(100%)of the value of the improvements as specified in the Improvements Agreement. 8.5 A cash 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 ora portion of the project has been completed in substantial compliance with approved plans and specifications documenting the following: 9.1 The Engineer or his representafive 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(CDOT) 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 Authority indicating the fire hydrants are in place in accordance with the ap proved plans. The lettershall indicate ifthe fire hydrants are operational and state the results of fire flow tests. 9.6 The requirements in paragraphs 9.0 thru 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 C ounty, the applicant(s) may request release of the collateral for the projector 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 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 govemmental entity,special district or utility comp any. 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 ofCounty Commissioners,pursuant to a rezoning,Subdivision or Planned Unit Development, requires the dedication,development and/or reservation of areas or sites other than Subdivision or Planned Unit Development streets and utility easements of a character,extent and location suitable for public use for parks,greenbelts or schools,said actions shall be secured in accordance with one of • 5 111111FIN II IIII Ill 3505994 09/21/2007 03:32P Weld County, CO 4 of 10 R 0.00 D 0.00 Steve Moreno Clerk& Recorder 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 reserved through deed restrictions as open area,the maintenance ofw hich shall be a specific obligation in the deed of each lot within the Subdivision or Planned Unit Development. 10.3 In lieu of land, the C ounty may req uire a payment to the County in an amount equal to the market value at the time of Final Plat submission ofthe required acreage as determined according to Chapter 24 of the We Id 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 at a later date. 11.0 Successors and Assigns: This Agreement shall be binding upon the heirs,executors,perso nal 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. • 1111111 11111 111 III 1111 1111 111111 III VIII IIII IIII 3505994 09/21/2007 03.32P Weld County, CO 5 of 10 R 0.00 0 0.00 Steve Moreno Clerk& Recorder 6 IN WITNESS WHEREOF,the parties hereto have caused this Agreement to be execut n theday and year first above written. APPLICANT:___ APPLICANT:TITLE: 141/11-/A 6-er. h "A� 1NItminuo, GE�A MAAiilt Subscribed and sworn to before me this_�__dayIA-�t _, 20 p 7. `� d,,..•"" ..LO 4s itsocA,,,,,)My Commission expires: C..- " = ens jjo; -'^ 5} Notary Public atlett •i;P ICOvote OF ATTEST: IL,./ E La` BOARD OF COUNTY COMMISSIONERS LD COUNTY, COLORADO ISM i _(� Weld County Clerk to the Boar. r - _ Jl(J) A r 1. _gobert D. Masden, Acting Chair Pro-Tem BY I / s I 08/27/2007 �. D uty CI r to the Board i APPROVED AS TO FORM_ e< ttorney ...—....._____ I IIIIII 1IIII 111111 III 11111111 IIII 111111 III 11111 IIII IIII 3505994 09/21/2007 03:32P Weld County, CO 6 of 10 R 0.00 D 0.00 Steve Moreno Clerk& Recorder a©o 1-a75 EXHIBIT "A" Name of Subdivision or Planned Unit Development let 10, Block 2 Amended Plat of the Rademacher Business Park Filing: Location: 4051 Camelot Circle, Longmont, CO 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) Improvements Quantity Units Unit Estimated Construction Costs Cost Site grading 1 75 11 ,000 $11 ,000.00 Street grading Street base Street paving 2780 SY 13.31 $37,001 .80 Curbs,gutters, and culverts 1845 LF 15.00 $27,675.00 Sidewalk Storm sewer facilities 1157.79 1158 40.00 $46,311 .71 Retention ponds 1 C7 25,000 $25,000.00 Ditch Improvements Subsurface drainage Sanitary sewers 1 17,659 $17,659.00 Trunk and forced lines Mains Laterals (house connected) On-site sewage facilities On-site water supply and storage Water Mains (includes bore) Fire hydrants Survey and street monuments and boxes • Street lighting Street Names Fencing requirements 80 LF 20.00 $ 160.00 Landscaping 1 C7 20,000 $20,000.00 Park improvements Road culvert Grass lined swale Telephone Gas Electric Water transfer SUB-TOTAL: Engineering and Supervision Costs $ 10,000.00 (Testing,inspection,as-built plans and work in addition to preliminary and finalplat;supervision of actual construction by contractors) TOTAL ESTIMATED COST OF IMPROVEMENTS AND SUPERVISION $ 184,807.51 The above improvements shall be constructed in accordance with all County requirements and specifications, and 111111 11111 111111 III 111111111111 111111 III VIII IIII I'll 3505994 09/21/2007 03:32P Weld County, CO 7 of 10 R 0.00 D 0.00 Steve Moreno Clerk& Recorder conformance with this provision shall be determined solely by Weld County, or its duly authorized agent. Said improve nts I b c. pleted according to the construction schedule set out in Exhibit "B." By: __-- • Applicant Applicant ---------_— "Ai"94 Date: lw-7 _, 20____ Title (If corporation,to be signed by President and attested to by Secretary,together with corp orate seal.) ALOUD"III 111111 III 11111111 MINED III Intl IIII 3505994 09/21/2007 03:32P Weld County, CO 8 of 10 R 0.00 D 0.00 Steve Moreno Clerk& Recorder 9 & o '-279; EXHIBIT "B" Name of Subdivision or Planned Unit Development__Lot 10, Block 2, Amended Plat of Rademacher Business Park Filing: Location: 4051 Camelot Circle, Longmont, CC Intending to be legally bound, the undersigned Applicant hereby agrees to provide throughout this Subdivision or Planned Unit Development 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 2 Weeks Street base 1 week Street paving 1 Week Curbs,gutters, and culverts 2 weeks Sidewalk 1 week Storm sewer facilities 2 weeks Retention ponds 1 month Ditch improvements Subsurface drainage Sanitary sewers Trunk and forced lines Mains 1 week Laterals(house connected) On-site sewage facilities 2 weeks On-site water supply and storage Water mains 1 week Fire hydrants Survey and street monuments and boxes Street lighting Street name signs Fencing requirements 1 week Landscaping 2 weeks Park improvements Road culvert Grass lined swale Telephone 1 week Gas 1 week Electric 1 week Water Transfer SUB-TOTAL: 20 weeks 11111 11111 1111 III 111111111111111111 III 11111 IIII IIII 3505994 09/21/2007 03:32P Weld County, CO 9 of 10 R 0.00 O 0.00 Steve Moreno Clerk& Recorder 10 The County, at its option, and upon the request of the Applicant,may grant an extension of time for completion for any particular imprrovvv teen is wn above,upon a showing by the Applicant that the above schedule cannot be met. By: 1�S. r. Applicant Applicant / Date: 1 , 20 Title (If corporation, to be signed by President and attested to by Secretary, together with corporate seal.) 1111111 11111 111111 III 11111111 BA NN III 'lull Mill 3505994 09/21/2007 03:32P Weld County, CO 10 of 10 R 0.00 D 0.00 Steve Moreno Clerk& Recorder APOLLO, LLC RECD APR 2 5 2006 13750 Deere Court Longmont, Colorado 80504 970-535-9199 February 8, 2007 Jacqueline Hatch Weld County Planning Department 4209 CR 245. Longmont, Colorado 80504 RE: SPR-408 Letter dated April 25. 2007 Paragraph 1 .L Dear Ms. Hatch: Landscaping for this site will be Xeriscape. There will be water drip lines to supply all plants. There will be a combination of rock, chips and grasses for ground cover. There will taller plants to hide loading docks and trash enclosures. There is a bid with this letter for the landscaping and I hope it is what you are looking for. Sincerely, Jerry Johnson Representative for Apollo, LLC 4/25/2007 landscaping letter 2 MISC. LABOR INC. 1263 HAFFNER CT. LOVELAND, COLORADO 80537 (970) 215-9544 Landscaping Bid for: Apollo L.L.C. 4051 Camelot Circle Longmont, Colo. 80504 April 10, 2007 Item Item Description Quantity Unit Price Total 1 IRRIGATION /DRIP ZONES 4 EACH 850.00 3800.00 2 NORWAY MAPLE TREE 1 '/" 15 EACH 175.50 1882.50 3 PINYON PINE TREE 6 FTR 8 EACH 162.50 1300.00 4 BURNING BUSSH 5 GALLON 13 EACH 22.96 298.48 5 ARCADIA JUNIPER 5 GALLON 11 EACH 25.50 280.50 6 BLUE CHIP JUNIPER 5 GALLON 30 EACH 19.00 570.00 7 STEEL EDGING 260 LFT 2.30 598.00 8 ROCK 1 ''A" COLORADO RED 370 TON 16.98 6282.60 9 FABRIC 25,500 SFT .063 1606.50 10 SEEDING NATIVE WITH HYDRO MULCH 25,465 SFT .057 1451.51 11 COMPOST 3 CYD PER 1000 SFT NATIVE 25,465 SFT .040 1018.60 TOTAL $ 19,079.19 This bid will only be honored for 30 days. eat MEMORANDUM I L ‘Illa TO: Board of County Commissioners August 21, 2007 COLORADO FROM: Jacqueline Hatch SUBJECT: Site Plan Review 408, Apollo LLC The Department of Planning Services has received an Irrevocable Standby Letter of Credit for the Private Improvements Agreement for SPR-408. The collateral for the Improvements Agreement is in the amount of one hundred and eighty four thousand eight hundred and eight dollars ($184,808.00) for improvements to the site. After review of the collateral by the Department of Planning Services and the Department of Public Works, it has been determined that the amount of the agreement will be sufficient to complete the work required for SPR-408, and the Department of Planning Services recommends acceptance of this collateral. 7 og rn c r" (TI No > 2E cst AUG-14-2007 TUE 07:51 AM WELD COUNTY PUBLIC WORKS FAX NO. 970 304 6497 P. 01/01 MEMORANDUM 10Thyarm,d ' TO: Jacqueline Hatch, Planning Services DATE.: 8/13/2007 FROM: Donald Carroll, Engineering Administrator 00/ COLORADO SUBJECT: SPR-408, Apollo LLC This case was previously assigned to Jesse Hein. In reviewing the file, the applicant had already submitted the Improvements Agreement in May of 2007 for review and approval. The Exhibit A portion appears to be the same as previous submitted, The Weld County Public Works Department accepts the transportation portion of the Exhibit A submitted as collateral, as It appears to be reasonable to complete the project. All other non-transportation items shall be verified by Planning Services. Once the applicant has posted collateral, Public.Works recommends scheduling this case with the Board. Our department will have a representative at that hearing, pc: SPR-408 • • MA\PLANNING-DEVELOPMENT REVIEWISPRSIto PMn R.1e SPR4DP.Apoflo LLC.DOC 4 . it ) "[ti6 uu 1T5/LOST WH-tiT es c7 vs L:S CENTENNIAL Bank of the West IRREVOCABLE STANDBY LETTER OF CREDIT NO. 6029 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 9„gu G d n � k ry;, s i�x ie3 a a "i px qty, y5 19i 4'�R� -" V �.- °°i �e" " d ""� A"t� � i' y u� -3 I gtY,R A � �� € l6c" �s" Y �h f `�a`8� IiJi = 'GF nI" i r to � i -e4 x91 e= +"3'1 ' ,' �g ,, eft ,�i°` a i 4a ;msµ h eta+ ,7rmai :. .-. ai i �,'..E.� w; _a ::: ,,, =-W,F)":7" `TT i.?A 1,a: b L',0 �{�£m r i i..a.. ≤ ( a.:..�""`-Ga .:«�,.rzaha lth 4 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 Christopher McVay Assistant Vice President Hello