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Home My WebLink About20070132.tiff 765 RESOLUTION RE: APPROVEPARTIALCANCELLA7ION AND RELEASEOFCOLLATERALFORMAJOR SUBDIVISION FINAL PLAN,MJF #1062 FOR HILL-N-PARK THIRD FILLING -JER,A PARTNERSHIP 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, by Resolution dated September 8, 2004, the Board approved a Major Subdivision Final Plan, MJF#1062,forJER,a partnership, P.O. Box632,Greeley,Colorado 80632, for Hill-n-Park Third Filing,for thirteen(13)residential lots in the R-5(Mobile Home Residential)Zone District on the following described real estate, to wit: Lot B Hill-n-Park Subdivision; being partof the SW1/4 of Section 26, Township 5 North, Range 66 West of the 6th P.M., Weld County, Colorado, and WHEREAS,on January 17, 2005, the Board of County Commissioners of Weld County, Colorado, approved an Improvements Agreement According to Policy Regarding Collateral for Improvements(Public Road Maintenance)between the County of Weld, State of Colorado, by and through the Board of County Commissioners of Weld County,and JER, a partnership,with terms and conditions being as stated in said agreement, and accepted Irrevocable Letter of Credit #000298,from Centennial Bank of the West, 2700 47th Avenue, Greeley,Colorado 80634, in the amount of$102,566.00, and WHEREAS, staff from the Weld County Departments of Public Works and Planning Services have conducted a visual inspection and recommend release of a portion of said collateral, in the amount of$87,181.10, retaining 15 percent ($15,384.90) for a one-year period, and WHEREAS,the Board has been presented with Irrevocable Letter of Credit#361,from New Frontier Bank,2425 35th Avenue,Greeley,Colorado 80634,as replacement collateral in the amount of$15,384.90. NOW,THEREFORE,BE IT RESOLVED by the Board of County Commissioners of Weld County,Colorado,that Irrevocable Letter of Credit#000298,drawn on Centennial Bank of the West, in the amount of$102,566.00 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. BE IT FURTHER RESOLVED by the Board that Irrevocable Letter of Credit#361,from New Frontier Bank, in the amount of$15,384.90, be, and hereby is,accepted as replacement collateral. 11111111111111111 till 1111111111111111III 11111 /III1111 2007-0132 3451765 01/30/2007 02:19P Weld County, CO PL0278 1 of 2 R 0.00 D 0.00 Steve Moreno Clerk& Recorder 00 : ft, f ) D,21o370 7 CANCEL COLLATERAL - JER, A PARTNERSHIP PAGE 2 The above and foregoing Resolution was,on motion duly made and seconded,adopted by the following vote on the 10th day of January, A.D., 2007. B RD OF COUNTY COMMISSIONERS W OUNTY, COLORADO ATTEST: Mad , David E. Long, Chair Weld C unty Clerk to the 1310,1/4H. '! Willa ro-Tem BY: u 4 /: / a1/2 Depu Clerk t e Board Wi lam Garcia` APPROVE AS TO '\ Robert D. Ma5deft--) County Att ney 6oug.addem er Date of signature: II/I/07 HBO 11111 11111 I'IIII IIIIII 11111Enid IIII IIII 3451765 01/30/2007 02:19P Weld County, CO 2 of 2 R 0.00 D 0.00 Steve Moreno Clerk& Recorder 2007-0132 PL0278 440ta MEMORANDUM TO: Board of County Commissioners Wi` a COLORADO DATE: January 4, 2007 " FROM: Michelle Martin -• SUBJECT: MJF-1062 The Department of Planning Services received a letter dated 6/14/06 from Elmer Lundvall requesting the release of collateral approved by the Board of County Commissioners 1/17/05 for$102,566.00. The Department of Public Works is requesting $15,384.90 be retained for a one-year warranty period for the improvements. The applicants have submitted a new Irrevocable Letter of Credit for the one-year warranty for the Private Improvements Agreement for MJF-1062 (Hill-n-Park Third Filing). The collateral for the one-year warranty is in the amount of$15,384.90. After review of the site Department of Public Works and the Department of Planning Services is in support of a partial vacation in the amount of one hundred and two thousand five hundred and sixty six dollars ($102,566.00). The Department of Planning Services and the Department of Public Work is requesting that a total of fifteen thousand and three hundred eighty four dollars and ninety cents ($15,384.90) be retained. 2007-0132 FROM :LUNDVALLS FAX NO. :9703398731 Jun. 14 2006 02:10PM P1 Weld County Planning Department SOUTHWEST BUILDING • WEST HILL N PARK, INC. AUG 1 U�20006 JER, A Colo. Partnership RECEIVE D P.O. Box 632 Greeley, CO 80632 June 14, 2006 cc 0 0 N O U Ealg Weld Co. Public Works Joshua Holbrook PIO. Box 758 Greeley, CO 80632 0 RE: Lot B,' Hill N Park. Dear Mr. Holbrook: As you are aware, Pickett Engineering has supplied Weld County with all the necessary documentation for the final approval of the construction work on Lot B, Hill N Park. We are,'.therefore, requesting the release of collateral for said project. Please forward the release to the address listed above. Your prompt consideration, of our request is greatly appreciated. Thank you. Yours truly, JER, tner ip • • Elmer Lundvall, Partner Weld County Planning Department SOUTHWEST BUILDING JUL 1 2 2006 MEMORANDUM RECEIVED TO: Michelle Martin, Planning a ent DATE: 06-July-2006 FROM: Peter Schei,P.E.,Publ epartment COLORADO SUBJECT: MN-I 062 Hill-n-Park S b.Lot ajor Subdivision Final Plat)Collateral Request Weld County Public Works Department has reviewed final plan materials submitted to our office and has the following development referral comments. Comments ❑ The Public Works Department has received a letter from the applicant, Mr. Elmer Lundvall, requesting release of collateral for on-site improvements pertaining to MJF-1062 Hill-n-Park Sub. Lot B in a letter dated June 14,2006. o Public Works' field inspectors have noted necessary work completed on this subdivision. o Public Works has inspected infrastructure associated with this Department and recommends the release of all collateral monies associated with Public Works' on-site improvements. ❑ Public Works has received the Record Drawing(As-Built)from the engineer for County records and shall keep this in the case file for our records. The Department accepts this Record Drawing. o Planning may schedule the release of collateral with the Clerk with no concerns from Public Works. Recommendation o The Public Works Department recommends the release of collateral as directed above for this development. The Planning Department may proceed with this case,with no restrictions by Public Works.° PC:MJF-1062 Hill-n-Park Sub.Lot B(Major Subdivision Final Plat)Collateral Request Email&Original:Planner:Michelle Martin PC by Post: Applicant:Elmer Lundvall w/JER Partnership PC by Post: Engineer:Pickett Engineering,Inc. ..,....,m.,._,.,.,.,w,._........,...,,._...,.... ...._..........._,_..T. Page 1 of I _ Page 1 of 2 Michelle Martin From: Peter Schei Sent: Tuesday, August 01, 2006 9:07 AM To: Michelle Martin Subject: FW: Hill-n-Park Sub. (MJF - 1062) Importance: High Attachments: MJF-1062, Hill-n-Park Sub, Lot B Michelle: PW will need to retain $15,384.90 for the one-year warranty period for the improvements. My apology for not stating that in the memorandum. This should take care of everything. Please let me know if there is anything I have neglected. Have a great day, Peter. Peter SCHEI,P.E.,Ns.P.E. Weld County-Public Works Department 1111 -H Street,Greeley,CO 80632 970.356.4000 x3750 pschei@co.weld.co.us "Welcome Home - to Weld County" From: Josh Holbrook Sent: Tuesday, August 01, 2006 8:26 AM To: Peter Schei Cc: Tracy Dyer Subject: FW: Hill-n-Park Sub. (MJF - 1062) Importance: High Peter: Yes, the road that was built in Hill-n-Park will be maintained by the County. As far as the collateral to be retained, it states in the Improvements agreement (Resolution) that "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" (8.1.5) The letter of credit from Centennial Bank of the West is for$102,566.00, 15% of that $15,384.90. From: Peter Schei Sent: Monday, July 31, 2006 3:54 PM To: Josh Holbrook Cc: Tracy Dyer Subject: RE: Hill-n-Park Sub. (MJF - 1062) 08/11/2006 Page 2 of 2 Importance: High Good Afternoon, Josh: A quick follow-up ... Will the roadways for MJF-1062 Hill-n-Park be maintained by the County? If yes, how much collateral should be retained for the warranty period? Thank you, in-advance! Have a great day, Peter. Peter SCHEI,P.E.,N.S.P.E. Weld County-Public Works Department 1111 -H Street,Greeley,CO 80632 970.356.4000 x3750 pschei@co.weld.co.us "Welcome Home - to Weld County" From: Josh Holbrook Sent: Wednesday, July 05, 2006 11:35 AM To: Peter Schei Cc: Tracy Dyer Subject: Hill-n-Park Sub. (MJF - 1062) Peter: The owner, Elmer Lundvall, has requested release of his Collateral for the items pertaining to Hi11-n- Park Sub. (MJF-1062) The owner has submitted AS-BUILT plans and letters of substantial compliance from the appropriate utility company, confirming everything relating to Public Works' has been completed to our satisfaction. He has also submitted a written letter to Public Works requesting the release of at collateral. I have placed the As-Built plans, letters of substantial compliance, material testing results and his letter in your mail box. Joshua Hoblrook Engineer Tech I Phone: (970) 356-4000 Ext. 3750 Mobile: (970) 301-2622 jholbook@co.weld.co.us 08/11/2006 Page 1 of 1 Michelle Martin l''IjF --/06 z From: Chris Gathman Sent: Thursday, August 17, 2006 11:35 AM To: Michelle Martin Subject: RE: Hill n park Michelle, Brad Mueller and myself visited the Hill-N-Park site on Friday, August 11th. An opaque wooden fence had been installed along 49th Street and three street lights were installed. Sincerely, Chris Gathman Planner II From: Michelle Martin Sent: Thursday, August 17, 2006 11:21 AM To: Chris Gathman Subject: Hill n park Hi Chris, Can you please send me the photos from hill n park that I asked you to take. Also can you send me an email on the status of the construction, thanks. ..ffiia�e�r .ilewrs Planner II 4209 CR 24.5 Longmont, CO 80504 mmartin@co.weld.co.us PHONE: (720) 652-4210 x 8730 FAX: (720) 652-4211 08/17/2006 or- 7 e L- cfr NEW FRONTIER BANK IRREVOCABLE LETTER OF CREDIT NO. 361 November 13, 2006 Board of County Commissioners Attention: Clerk to the Board P.O. Box 758 Greeley, CO 80632 To Whom It May Concern: We hereby open our Irrevocable Letter of Credit in your favor for the account of Elmer E. Lundvall, P.O. Box 632, Greeley, CO 80632, for a sum not to exceed the aggregate of $15,384.90 (Fifteen Thousand Three Hundred Eighty Four and 90/100ths). Each draft so drawn must be marked "Drawn under NEW FRONTIER BANK, 2425 35th Avenue, Greeley, CO, Letter of Credit No. 361 and be accompanied by a "signed statement from the Board of County Commissioners of Weld County, Colorado stating that Elmer Lundvall has committed a material breach of the Improvements Agreement According to Policy Regarding collateral for Improvements regarding Lot B Hill & Park Subdivision dated the 27`h day of October, 2004 by and between JER, A Partnership and the Board of County Commissioners of the County of Weld." 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, NEW FRONTIER BANK, 2425 35th Avenue, Greeley, CO. This letter of credit will expire on November 13, 2007 at 4:00 P.M. 2425 35th Avenue • Greeley, Colorado 80634 • 970-339-5100 • Fax 970-339-5200 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 NEW FRONTIER 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 of the following: (a) a draft at sight on NEW FRONTIER 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 NEW FRONTIER BANK the Letter of Credit No. 361 will not be renewed and that Elmer E. Lundvall has failed to provide proof of adequate collateral and substitution of this Letter of Credit No. 361 and the original letter of credit. Yours truly, Rod Johnson Assistant Vice President Lending e.H. a Kit CLERK TO THE BOARD '11 PHONE (970) 336-7215, Ext. 4225 11 FAX: (970) 352-0242 P. O. BOX 758 O GREELEY, COLORADO 80632 COLORADO January 12, 2007 CENTENNIAL BANK OF THE WEST 2700 47TH AVENUE GREELEY CO 80634 RE: Partial Cancellation and release of Collateral - Hill-N-Park Third Filling - JER, a Partnership To Whom It May Concern: Attached hereto please find a copy of the Board of County Commissioner's Resolution approving the cancellation and release of collateral, as referenced above. The original Irrevocable Letter of Credit is enclosed. If you have questions or need additional information, please do not hesitate to contact me at (970) 356-4000, Extension 4217. Very truly yours, BOARD OF COUNTY COMMISSIONERS�� By: Sit,it, '.1_,/ Donna J. Bec r, Deputy Clerk to the Board 8y -uar� 94-'1.1 vier r e or ceo r• at seede �r pIj y�jao 10 eQ'Y r c1e dpi 6'o ase Se CENTENNIAL r r 2ppsprsabyr Bank of the West o SZo the IRREVOCABLE LETTER OF CREDIT #000298Bea hers ra December 17, 2004 Weld County 918 10th Street Greeley, CO 80631 Re: Replat of Lot B, Hill-n-Park Subdivision Elmer E. Lundvall/JER, a Partnership Dear Sirs: The Centennial Bank of the West, 2700 47th Avenue, Greeley, CO 80634, hereby authorizes Weld County (Beneficiary) to draw on us for the above referenced account, up to a total of ONE HUNDRED TWO THOUSAND, FIVE HUNDRED SIXTY SIX AND NO/100 DOLLARS ($102,566.00), such amount not available except by your drafts at sight, accompanied by written certification from the Board of County Commissioners of Weld County, Colorado stating that the above referenced Applicant has failed to perform as required under the Improvements Agreement executed by the Applicants on October 27, 2004, covering the replat of Lot B, West Hill-n-Park Subdivision. We hereby further agree that: (a) Drafts drawn under, and in compliance with the terms of this Irrevocable Letter of Credit will be duly honored if presented at our office at 2700 47th Avenue, Greeley, CO 80634, on or before December 17, 2005, upon which date this Letter of Credit shall expire. The Letter of Credit will be automatically extended without amendment, for additional one year periods from the current expiration date unless, 60 days prior to such expiration date, Centennial Bank of the West notifies Beneficiary that the Letter will not be renewed. (b) Funds available under this irrevocable Letter of Credit may be drawn in such amounts, and at such times, as determined by the Beneficiary, in its sole discretion, provided that the amount drawn shall not exceed the aggregate amount specified herein. (f) The amount of any draft drawn hereunder must be endorsed on the reverse side hereof. All drafts must be marked "Drawn under Irrevocable Letter of Credit#00298, Elmer E. Lundvall" and be accompanied by this original Letter of Credit. Dated this 17th day of December, 2004. CENTS IAL BANK OF THE WEST i toph r W. Jeavons Regional President 2700 47th Ave.•Greeley,CO 80634•Bus:970-454-4151 •Fax:970-454-4159•cjeavons@centennialbanks.com ? -.C' t (;) Stec r S P r dy sr Par ,D cp 0co 6,y I o� O NA is 4, O CENTENNIAL `�.`( �1'r.6 0, °'< o. Bank of the West t�� °F 1 40 d <sso W,. a January 17, 2006 Weld County 918 10th Street Greeley, CO 80631 RE: Replat of Lot B,Hill 'N Park Subdivision Elmer E. Lundvall/JER, a Partnership Dear Sirs: This letter will confirm that Centennial Bank of the West has renewed Irrevocable Letter of Credit#000298 for another year. The new maturity date is December 17, 2006. If you have any questions please call Chris Jeavons at (970)454-4152. Thank you, ,a • ) Shelli Tarrant Administrative Assistant `t ry ,;v✓�131/' 1 nn`,n sr� ag/i Agra WA A r 5, 52 ` 7O i� s E x w�, 1 n wa it�� > ��"�a �ta',��4k$"�� i7�Y�r�5"�G4S59�1;zMA>1 Yjt�centenwr3�anks eom ` r n'" i.r(5'Ft 9l' . in 5r<� 's 6 004, i�� ',„ ivb�rv�/yYr}5i rely y e c,01 i� „ r b ' de z,,,,,,e, ., Y �: .. „ _ ., ,._.n. ?'4-ji .*',:,.5.sue. 'IStri ��m ,Moi awl�,,,., ii, 4 ,.,C,,:, ,n.A o, , v . :,."."-2,,,2; a CLERK TO THE BOARD ' PHONE (970) 336-7215, Ext. 4225 111 FAX: (970) 352-0242 P. O. BOX 758 O GREELEY, COLORADO 80632 COLORADO January 12, 2007 JER, A PARTNERSHIP P.O. BOX 632 GREELEY CO 80632 RE: Partial Cancellation and release of Collateral To Whom It May Concern: Attached hereto please find a copy of the Board of County Commissioner's Resolution approving the partial cancellation and release of collateral, as referenced above. The Replacement Letter of Credit was accepted from New Frontier Bank, 2425 35th Avenue, Greeley, Colorado 80634. If you have questions or need additional information, please do not hesitate to contact me at (970) 356-4000, Extension 4217. Very truly yours, /6211,NIL Donna J. Bechler Deputy Clerk to the Board Hello