HomeMy WebLinkAbout20071839.tiff RESOLUTION
RE: APPROVE IMPROVEMENTS AGREEMENT ACCORDING TO POLICY REGARDING
COLLATERAL FOR IMPROVEMENTS(PRIVATE ROAD MAINTENANCE),AUTHORIZE
CHAIR TO SIGN,ANDACCEPTCOLLATERALFOR USE BY SPECIAL REVIEW#1575-
MARILYN TAYLOR
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 January 31,2007,the Weld County Board of Commissioners approved Use
by Special Review#1575,for Marilyn Taylor,7507 County Road 39, Fort Lupton,Colorado 80621,
for a use similar to the uses listed as Use by Special Review(assisted living residence)as long as
the use complies with the general intent of the A (Agricultural) Zone District, on the following
described real estate, to-wit:
Lot B of Recorded Exemption#4053; being part of the
NW1/4 of Section 32, Township 2 North, Range 65
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 Marilyn Taylor/Eagle's Nest Aviator Homes, Inc.,with
terms and conditions being as stated in said agreement, and
WHEREAS,the Board has been presented with Irrevocable Letter of Credit No. 14-07-06
from Valley Bank and Trust, 30 North 4th Avenue, Brighton, Colorado 80601, in the amount of
$109,593.00, 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 Marilyn Taylor/ Eagle's Nest
Aviator Homes, Inc., be, and hereby is, approved.
2007-1839
PL1869
/7. /77th /ff e . 7as - 0
IMPROVEMENTS AGREEMENT - MARILYN TAYLOR
PAGE 2
BE IT FURTHER RESOLVED that Irrevocable Letter of Credit 14-07-06 from Valley Bank
and Trust, 30 North 4th Avenue, Brighton, Colorado 80601, in the amount of$109,593.00, be and
hereby is, accepted.
The above and foregoing Resolution was,on motion duly made and seconded,adopted by
the following vote on the 2nd day of July, A.D., 2007.
BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLORADO
ATTEST: EXCUSED
{� vid E. Long, Chair
Weld County er a :.:� . gyp, ,G7 )
r 186,
.,,,,e I iam H. rke, T m
BY:
Deputy Cle -to the Boar\Q ti 4 ,
Off
E F. arcia
A S ORM: Rob
ert D. Masden
County Attorney ( ipeer-lad\rt./—
Douglas Rademacher L.
Date of signature: 7J 1.-1°7
2007-1839
PL1869
44 / 6 MEMORANDUM
tiWC TO: Board of County Commissioners June 25, 2007
COLORADO FROM: Jacqueline Hatch
SUBJECT: USR-1575, Marilyn Taylor/ Eagles Nest Aviator Homes Inc.
The Department of Planning Services has received an Irrevocable Letter of Credit for the
Private Improvements Agreement for USR-1575 (Eagles Nest Aviator Homes Inc).
The collateral for the Improvements Agreement is in the amount of one hundred and nine
thousand five hundred and ninety three dollars ($109,593.00) for 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 USR-1575, and the Department of Planning Services
recommends acceptance of this collateral.
2007-1839
Weld County Planning Department
MEMORANDUM MAY`2Y2F700
1*� R�
TO: Jacqueline Hatch, Planning Services �TiIL:K�( "FFtv1'aY2D07
FROM: Donald Carroll, Engineering Administrator U'°
SUBJECT: USR-1575, Marilyn Taylor and
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COLORADO Eagle's Nest Aviator Homes, Inc.
The Weld County Public Works Department has evaluated the Exhibit A portion for the transportation items
associated with the Improvements Agreement According to Policy Regarding Collateral for Improvements
(private road maintenance). The transportation items consists of site grading, street grading, street base, road
culvert, and all appear to be adequate to complete the project.
The Exhibit B portion reflects that the project shall start in summer/fall of 2007.
All other non-transportation items should verified by Planning Services prior to scheduling. The Improvements
Agreement needs to be signed prior to scheduling.
pc: USR-1575
M:\PLANNING-DEVELOPMENT REVIEW\USR-Use by Special Review\USR-1575MarilynTaylor.DOC
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IMPROVEMENTS AGREEMENT ACCORDING TO
POLICY REGARDING COLLATERAL FOR IMPROVEMENTS
(PRIVATE ROAD MAINTENANCE)
THIS AGREEMENT,made and entered into thi ^"t day of -' , 20 El, by and between
the County of Weld,State of Colorado,acting through its Board of County Commissi ners,hereinafter c alled"County,"
and_ Marilyn Taylor and hereinafter ca lied"Applicant."
Eagle' s Nest Aviator Homes, Inc.
• WITNESSETH:
• WHEREAS,Applicant is the owner of,or has a controlling interest in the following described property in the
County of Weld, Colorado:
Legal Description: Part of NW4, Section 32, Township 2North,
Range 65 West of the 6th PM - Lot B of
Recorded Exemption RE-4053 ( .50R)
Parcel Number: 130732200038
WHEREAS, a Final Subdivision/Planned Unit Development (PUD) plat of said property, to be known as
—_Eaglets hlest_Avi a tnr iomelk S.e -/5241 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 Hat, or Site Plan shall be approved by the County until the Applicant has submitted a Subdivision •
Improvement Agreement guaranteeing the construction of the pub lie 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 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 Subdivision or Planned 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 fur public impro vements.
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1.2 The required engineering services shall consist of,but not he 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 ro ads 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 is 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 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 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, 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 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 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,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 workers 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 Asso ciation 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 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.
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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 Subdivision or Planned Unit
Development improvements in that phase of the development is satisfactory to the County; and all
terms of this Agreement have been faithfu Ily kept by Applicant.
6.3 Upon completion of the construction 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 that the 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 standards,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 Commissioners 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 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 Platapproval 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 be completed within one(1)vear after the Final 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 improvements are updated and collateral is provided in the amount of One-Hundred
percent(100%)of the value of the improvements remaining to be 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 o f the collateral and take steps to see that the improvements are made.
7.2 The applicant may choose to provide for a phased development by means of designating filings of a
Planned Unit Development Final Plat or Subdivision Final Plat. The applicant would need only to
providecollateralfor 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.
7.3 The applicant intends to develop in accordance with Exhibits "A" and"B."
8.0 Improve ments Guarantee: The five types of collateral listed below are acceptable to We Id 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-Hundred percent(100%)of the
total value of the improvem ents as set forth in Section 6.0 and Exhibits"A" and "B."
8.1.2 The LetterofCredit shall provide for paymentupon demand to Weld County if the developer
has not performed the obligations specified in the Improvements Agreement and the issuer
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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 the required improvemens,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.
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 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 dare 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 be sent 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 that 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 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-Hundred percent(100%)of the
cost of the improvements as set forth in the Impro vements A greement p lus 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. •
8.3 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 I
in the Improvements Agreement.
•
8.3.2 The escrow agent guarantees that the escrowed funds will be used for improvements as
specified in the agreement and 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 County,shall release any remaining escrowed 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 den osit 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 theproject 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 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 Authority indicating 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 thru 9.5 shall be noted on the final construction plans.
9.7 Following the submittal of 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 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 governmental 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 C ounty
Commissioners.
10.0 Public Sites and Open Spaces: When the Board of County 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
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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
reserved through deed restrictions as open area,the maintenance ofwhich 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 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 according to Chapter
24 of the Weld County Code. Such value shall be determined by a competent lard 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.
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IN WITNESS WHEREOF,the parties hereto have caged this Agreement to be executed on the day and year .
first above written. ^
APPLICANT: WQ,c/4/1/ /ft. ( ,I
APPLICANT: fro,l.(S /V.( Stilay,s o,C , c,n9/ /t (%
TITLE: it 57 atel - -
Subscribed and sworn to before me this ,21 day of ZU E. Irk
f T q/-'yG2
My Commission expires:
T. try Public /O
Id 9/ /1 17)Ff°C/61,�APP
OF C:0%-
My Commission Expires
APRIL 9,2011
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ATTEST:,�� //��/ _ , m� __ " �I ` BOARD OF COUNTY, C COMMISSIONERS
Liu
,/!i1//A✓/// `, �• `WELD COUNTY, COLORADO
edir gal
Weld County Clerk to the Board �1�-A
t mot; /7� l-,,, ,
/ ,r- � ' illiam H. Serke ,Chair pro-Tem
B l,! °2M /M 'I�:.ice, o7/oz/zoo7
puty k to the Boar
APPROVED AS TO FORM: --).-------
County Attorney
l
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&0e2- /cf'39
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EXHIBIT "A"
Name of Subdivision
or Planned Unit Development Eagle's Nest Aviator Home - USR 1575
Filing
Location: 6994 WCR 39, Fort Lupton, CO 80621
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
Street grading\\ Shared Access Road fort
Street base / Lots A & B J288 LF $ 9.750
Street paving Parking 1 of 15.858SF $ 13.500
Curbs,gutters,and culverts
Sidewalk
Storm sewer facilities
Retention ponds 1 $ 8,000
Ditch Improvements
Subsurface drainage
Sanitary sewers
• Trunk and forced lines
Mains
Laterals (house connected)
On-site sewage facilities/Septic 1 $ 25,800
On-site water supply and storage/Well 1 S 24.312
Water Mains(includes bore)
Fire hydrants
Survey and street monuments and boxes
Street lighting
Street Names
Fencing requirements/Trash Receptacle 1 $ 400
Landscaping ** No formal Landscape Plan required per Kim Ogle memo 8/21/06
Park improvements
Road culvert 1 $ R5n —
Grass lined swale
•
Telephone $ 2.000
Gas/Atmos Energy $ 10.000
Electric/United Power $ 14.921
Water transfer
SUB-TOTAL: $109,593
Engineering and Supervision Costs$
(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 $ 109,593
•
The above improvements shall be constructed in accordance with all County requirements and specifications, and
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conformance with this provision shall be determined solely by Weld County,or its duly authorized agent.
Said improvements
shall be completed according to the construction schedule set out in Exhibit"B."
By: /naf.t.,C4.tJ ,1 . 4/020C--
Applicant
LL //qq` �1 ,,//
G4gaC finSAa 4R !VvntiS/ lhCJ •
App cant 7
/ &lS/OelA/ Date: �Qnl 2 2 , , 2007.
Title ((((////
(If corporation,to be signed by President and attested to by Secretary,together with corporate seal.)
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EXHIBIT "B"
• Name of Subdivision
•
or Planned Unit Development Eagle' s Nest Aviator Home - USR 1575
Filing
Location: 6994 WCR 39, Fort Lupton, CO 80621
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 Constmction
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 Summer/Fall 2007 •
Street paving Summer/Fall 2007
Curbs,gutters,and culverts
Sidewalk
Storm sewer facilities
Retention ponds Summer/Fall 2007
Ditch improvements
Subsurface drainage
Sanitary sewers
Trunk and forced lines
Mains
Laterals(house connected)
On-site sewage facilities Summer/Fall 2007
On-site water supply and storage Summer/Fall 2007
Water mains
Fire hydrants
Survey and street monuments and boxes
Street lighting
Street name signs
Fencing requirements Summer/Fall 2007
Landscaping
Park improvements
Road culvert Summer/Fall 2007
Grass lined swale
Telephone Summer/Fall 7007
Gas Summer/Fall 2007
Electric Summer/Fa)1 20977
Water Transfer
SUB-TOTAL:
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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 met.
By: /f/a ai4 a`c—
Applicant
F to /VI 4vm o e 4/0-et e S1 lfi Cam' .
Applicant / -,✓ �y
'AQ kh".74---
. Date: /ant. 2 v,20 a /_.
Title
(If corporation,to be signed by President and attested to by Secretary,together with corp orate seal.)
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3490652 07/16/2007 02:54P Weld County, CO
11 of 11 R 0.00 D 0.00 Steve Moreno Clerk& Recorder
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IRREVOCABLE LETTER OF CREDIT NO. 14-07-06
June 21,2007
Board of Weld County Commissioners
Attn: Clerk to the Board
PO Box 758
Greeley,CO 80632
RE: Eagles Nest Aviator Homes,Inc.
Marilyn M.Taylor
To Whom It May Concern:
We hereby open our Irrevocable Letter of Credit in your favor for the account of Eagles Nest Aviator Homes, Inc.and
Marilyn M.Taylor,7507 WCR 39,Ft.Lupton,CO 80621,for a sum not to exceed the aggregate of One Hundred Nine
Thousand Five Hundred Ninety-three and 00/100 Dollars($109,593.00).
Each draft so drawn must be marked"Drawn under VALLEY BANK&TRUST,30 N.4th Ave.,Brighton,CO 80601,Letter
of Credit No. 14-07-06"and be accompanied by a signed statement from the Board of County Commissioners of Weld
County,Colorado stating that"Eagles Nest Aviator Homes,Inc.and Marilyn M.Taylor has committed a material breach of
the Improvements Agreement According to Policy Regarding Collateral for Improvements dated the 21st day of June,2007
by and between Marilyn Taylor and Eagles Nest Aviator Homes, Inc.and the Board of County Commissioners of the
County of Weld".
This credit is subject,so far as applicable to the"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,VALLEY BANK&TRUST,30 N.4th Ave.,Brighton,CO 80601. This letter
of credit will expire on March 18,2008 at 5:00 P.M.
This letter of credit is automatically extended without amendment,for additional nine month period from the current
expiration or any future expiration date unless 60 days prior to such current expiration date VALLEY BANK&TRUST
notifies beneficiary in writing that the letter of credit will not he renewed. In the case you receive such a notification,you
may draw by presentation of the following: (a)a draft at sight on VALLEY BANK&TRUST;(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 VALLEY BANK&T• ST the Letter of Credit No. 14-07-06 will not be renewed and that Eagles Nest Aviator
Homes, Inc.and Marilyn M aylor h failed to provide proof of adequate collateral and substitution of the Letter of Credit
No. 14-07-06;(c)copy of -tter from ALLEY BANK&TRUST stating non-renewal of Letter of Credit No. 14-07-06 and
the original letter of cred'.
ours uly,
George Whi nhunt
Branch Pre dent
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