HomeMy WebLinkAbout20071719.tiff 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,#409-ZEEK
PARTNERSHIP, LLLP, C/O KENNETH WILLIAMSON
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#409, for Zeek Partnership, LLLP, do Kenneth Williamson, 4068 Camelot
Circle, Longmont, Colorado 80504, for Offices, a Maintenance Shop, Equipment Sales,
Manufacturing, and Warehouse Sales of Products and Services on the following described real
estate, to-wit:
Lot 7, 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
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 Zeek Partnership, LLLP,do Kenneth Williamson,with
terms and conditions being as stated in said agreement, and
WHEREAS, the Board has been presented with Irrevocable Standby Letter of Credit
No. 1328 from Colorado Business Bank, 821 17th Street, Loan Operations Department, 3rd Floor,
Denver, Colorado 80202, in the amount of $163,555.24, 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 Zeek Partnership, LLLP, do
Kenneth Williamson, be, and hereby is, approved.
2007-1719
PL1903
l'� �, P44 APL 07-0)._3 _07
IMPROVEMENTS AGREEMENT - ZEEK PARTNERSHIP, LLLP, C/O KENNETH WILLIAMSON
PAGE 2
BE IT FURTHER RESOLVED that Irrevocable Standby Letter of Credit No. 1328 from
Colorado Business Bank, 821 17th Street, Loan Operations Department, 3rd Floor, Denver,
Colorado 80202, in the amount of $163,555.24, be and hereby is, accepted.
The above and foregoing Resolution was, on motion duly made and seconded, adopted by
the following vote on the 18th day of June, A.D., 2007.
BOARD OF COUNTY COMMISSIONERS
WELD •OUNTY, COLO" DO
ATTEST: Li/ / /�, .&k) ��
.ay. ivid E. Long, Chair
Weld County Clerk to the B.Ftdi
/ 1r tr liaitt Je e, RLT�m
BY: w ✓�i.. �•�:�':�^ ��� C/
Deputy Cl- k to the Board
Wil F. Garcia I��
APP AS TO FO 1"
obert D. Masden
fttorn ey }E �p elf C
Douglas Rademacher
Date of signature: 7 - '7 �7
2007-1719
PL1903
0
IMPROVEMENTS AGREEMENT ACCORDING TO
POLICY REGARDING COLLATERAL FOR IMPROVEMENTS
(PRIVATE ROAD MAINTENANCE)
THIS AGREEMENT,made and entered into this 4F2,day of . NE , 2001, by and between
the County of W eld,State of Colorado,acting through its Board of County Commission ers,hereinafter called"County,"
and �!kaririC n h1'P /_Y'.L._e hereinafter ca lied "Applicant."
WITNESSETH:
WHEREAS,Applicant is the owner of,or has a controlling interest in the folio 'ng described property in the
County of Weld, Colorado: > //: 67
WHEREAS, a Final Subdivision/Planned Unit Development (PUD) plat of said property, to be known as
---- ---- __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 constructio n of the pub lic 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 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 by a Professional Engineer and Land Surveyor
registered in the State of Colorado,and shall conform to the standards and criteria established by the
County for public 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 o r 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 its 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 strictconformance to the plans and drawings approved by the County and
the specifications adopted by the County for such public improvements. Whenever a Subdivision or
Planned Unit Development is proposed within three miles of an incorporated community located in
Weld County or located in any adjacent county, the Applicant shall be required to install
improvements in accordance with the requirements and standards that would exist if the plat were
developed within the corporate limits of that community. If the incorporated community has not
adopted such requirements and standards at the time the Subdivision or Planned Unit Development
is proposed, 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 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 againstthe County on accountof any such suit,action or claim,together with all reasonable expenses
and attorney fees incurred by County in defending such suit, action or claim whether the liability, loss or
damage is 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.
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6.2 County may, at its option, issue building permits for construction on lots for which street
improve ments 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 improvem ents in that phase of the develo pment is satisfactory to the County; and all
terms of this Agreement have been faithfully kept by Applicant.
6.3 Upon completion of the construction of streets within a Subdivisiono r 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 o r she shall recommend full approval. Upon a receipt ofa positive
unqualified recommendation from the County Engineer for approval of streets withinthedevelopment,
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. Ifacceptab le 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)year 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 fthe collateral and take steps to see that the improvements are made.
7.2 The applicant may choose to provide fora phased development by means of designating filings of a
Planned Unit Development Final Plat or Subdivision Final Plat. The applicant would need only to
provide collateral for 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 p ermits 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 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 C ounty. 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 improvements as set forth in Section 6.0 and Exhibits "A" and "B."
8.1.2 The LetterofCredit shallprovide 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
estimated costs of completing the uncompleted portions of the required improvements,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 date 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 fthe 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 Improvements Agreement plus all costs of sale
of the property.
8.2.3 A title insurance policy insuring that the Trust Deed creates a valid encumbrance which is
senior to all other liens and encumbrances.
8.2.4 A building permit hold shall be placed on the encumbered property.
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
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 w ill 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 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 We Id County,the Applicant must present a Statement of Substantial Compliance from an Engineer
registered in Colorado that theproject ora portion of the project hasbeen 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 company.
9.9 The warranty collateral shall be released to the applicant upon final approval by the B oard of County
Commissioners.
10.0 Public Sites and Open Spaces: When the Board 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
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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 of which 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 accordingto 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.
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IN WITNESS WHEREOF,the parties hereto have caused this Agreement to be executed on t d d year
first above written.
ter.•"' .�
'Ot: NOTARY :,S•
APPLICAN
y� C
'. C f APPLICANT:
wnhMwtfiw:0Wairlpq TITLE:_ r4
Subscribed and sworn to before me this_lc' day of_4)_ E__ , 20 +J (�
- 4/��t
My Commission expires: ...1,—..____Nota�blic
(+ p
ATTEST:M��a"(/✓ 'a. i , BOARD OF COUNTY COMMISSIONERS
P4: c - WE COUNTY, COLORADO
Weld County Clerk to the Board _
6� avid E. Long h r
BY. _ � �eSZ�c��t{�( 6/18/2007
D uty Cl to the Board
G�
APPROVED AS TO FORM: _..
Count ttorney
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EXHIBIT "A"
Name of Subdivision _ _9 C-
or Planned Unit Development�� _ C //jHnet i 2 fff✓✓✓
Q
Filing _ f� �
AI's/ % t. p
Location: " � ( /�� P
Intending to be legally bound, the undersigned Applicant hereby agrees to provide throughout this Subdivision or
Planned Unit Development the following improvements. (Leave sp aces blank where they do not apply)
Improvements Quantity Units Unit Estimated Construction
Costs Cost
Site grading G 5 /GOr%e
Street grading
Street base
Street paving ;r//,4/ cc
4it /3 3 /319441 I
Curbs, gutters, and culverts /;?7 C i.. /s ° ?1) 6 -
Sidewalk
Storm sewer facilities 900 L. G 26)0O ).
Retention ponds y h .,;(6-15 eV ,cO )
Ditch Improvements
Subsurface drainage
Sanitary sewers
Trunk and forced lines
Mains
Laterals (house connected)
On-site sewage facilities ,s,-,4,G Sc,rd..I /ft_ / t_j /2 PIT' IV 400
On-site water supply and storage
Water Mains (includes bore)
Fire hydrants
Survey and street monuments and boxes
Street lighting
Street Names
Fencing requirements gfj.' L F 2.e,e0
Landscaping / G S. SZ
Park imp rovemen[s
Road culvert
Grass lined swale
Telephone
Gas
Electric
Water transfer
SUB-TOTAL:
Engineering and Supervision Costs$ /2..1ti'O
(Testing,inspection,as-built plans and work in additionto preliminary and final plat;supervision of actual construction
by contractors) // 7
TOTAL ESTIMATED COST OF IMPROVEMENTS AND SUPERVISION $ !(—i„,7
The above improvements shall be constructed in accordance with all County requirements and specifications, and
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conformance with this provision sh I be determined solely by Weld County, or its duly authorized agent.
Said improveme co pleted according to the construction schedule set out in Exhibit"B."
Appl' nt
Applicant ��
Cam% Date: 4, _
Title
(If corporation,to be signed by President and attested to by Secretary, together with corporate seal.)
I RED III11111011111 "III' V11111111III11111 IIIIIII
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i
9
EXHIBIT "B"
Name of Subdivision ' »
or Planned Unit Developmen 7 6,„,7 „4/ iol� �+ �t4e /C ,4,eku
Filing ge-s r�
T
Location: Q o�G it 7 ri/K
Intending to be legally bound,the undersigned Applicant hereby agrees to provide throughout this Subdivision or
Planned Unit Development the following improvements.
MI improvements shall be completed within / years from the date of approval of the final plat Construction
of the improvements listed in Exhibit"A" shall be completed as follows:
(Leave spaces blank where they do not apply.)
Improvements Time for Completion
Site grading
Street base Y+ / (t
Street paving � I�r1 7
Curbs,gutters, and culverts Art,/ er?
Sidewalk
Storm sewer facilities C.k,5-l+=cj Po
Retention ponds 4,n/%1
Ditch improvements ) r
Subsurface drainage ,) c+
Sanitary sewers �,.(r
Trunk and forced lines fejy 7�y'l
Mains �y//1'&ki
Laterals(house connected) Ale", / .�
On-site sewage facilities '!xj 7
On-site water supply and storage .I +
Water mains J'f PPP
Fire hydrants re) 4:t) #2
Survey and street monuments and boxes
Street lighting
Street name signs
Fencing requirements CJl, ,t 01
Landscaping 'r tern
Park improvements
Road culvert
Grass lined swale /z4 , p`7
Telephone
Gas t
Electric r i
Water Transfer (r
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.
Applicant
App icant
/4.07/24,19e4.-//24,19e/L Date: O!p , 20 /.
Title
(If corporation, to be signed by Pre sident and attested to by S ecretary,together with corp orate seal.)
AIM 11111111111111111111 11111 11111II1111111 I I 11111
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Alfa Construction, LLC
4068 Camelot Circle
Longmont CO 80504
970-535-6074
April 17, 2007
Zeek Partnership LLLP
Landscape bid Lot 7 Block2
Supply and install the following
28 Blue chip junipers @$21.00 $588.00
15 Norway maples @$75.00 $1125.00
7 Pinion pines @$75.00 $525.00
11 Burning bush @$18.00 $198.00
15 Arcadia junipers @25.00 $375.00
Seed grass areas $250.00
Irrigation $2165.00
Total $5226.00
Thank yo
evin Schu
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iAt MEMORANDUM
TO: Board of County Commissioners June 1, 2007
COLORADO FROM: Jacqueline Hatch
SUBJECT: Site Plan Review 409, Zeek Partnership LLLP
The Department of Planning Services has received an Irrevocable Standby Letter of Credit for
the Private Improvements Agreement for SPR-409.
The collateral for the Improvements Agreement is in the amount of one hundred and sixty three
thousand five hundred and fifty five dollars and twenty four cents ($163,555.24) 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-409, and the Department of Planning Services
recommends acceptance of this collateral.
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Page 1 of 1
Jacqueline Hatch
From: Jesse Hein
Sent: Thursday, May 31, 2007 11:40 AM
To: Jacqueline Hatch
Cc: Brian Varrella
Subject: SPR 408 and 409 Improvements
Jacqueline,
Public Works has reviewed the Improvements Agreements according to Policy Regarding Collateral for Improvements for SPR-
408 and SPR-409. Both documents are adequate and meet the requirements of the Public Works Department.
Please let me know if there are any further questions or concerns regarding these projects.
Jesse
Jesse Hein
Weld County-Public Works Department
1111 -H Street
Greeley, CO 80632
970.356.4000 x3750
jhein@co.weld.co.us
05/31/2007
COLORADO
BUSINESS BANK
IRREVOCABLE STANDBY LETTER OF CREDIT
Letter of Credit Number: 1328
Expiration Date:April 25, 2008
Date: April 25, 2007
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Beneficiary Name: Board of County Commissioner of Weld County
Address: 918 10'h Street
City, State,Zip Code: Greeley,CO 80631
Applicant Name: Zeek Partnership,LLLP.
Address: 4068 Camelot Cir.
City, State, Zip Code: Longmont, CO 80504
We hereby issue our Irrevocable Standby Letter of Credit No. 1328 in your favor in the
amount of One Hundred Sixty-three Thousand Five Hundred Fifty-five Dollars and 24/100
U.S. Dollars (USD$163,555.24)and expiring at the close of business(3:00 p.m. Mountain
Time) on April 25, 2008 at our counters at Colorado Business Bank, Loan Operations
Department 3`d floor, 821 17th Street,Denver, CO 80202.
Special Conditions:
Partial drawings are allowed.
It is a condition of this Letter of Credit that it will be automatically extended without
amendment for an additional period of 12 months from the present and each future
expiration date, unless, not less than 30 days prior to the then relevant expiration date, we
notify you that we elect not to extend this Letter of Credit for any additional period. This
Letter of Credit has a full and final expiration date of April 25, 2013.
We hereby agree with you that drafts drawn under and in accordance with the terms of this
letter of credit will be duly honored upon presentation of drafts(s) and required
document(s) at our office no later than the close of business (3:00 p.m. Mountain Time) at
821 17th St., Loan Operations Department 3rd floor,Denver, Colorado 80202, U.S.A. on or
before the expiry date.of this Letter of Credit.
Unless otherwise expressly stated, this letter of credit and all negotiations hereunder shall
be governed by and construed in accordance with the International Standby Practices
ISP98, as published by the International Chamber of Commerce Publication No. 590, and,
to the extent not inconsistent therewith,the laws of the State of Colorado.
CADocurnalta and saoelSsWx aBe3at �T_utataasa natfSes'9Fi<Sgetft 4sta D74,14Y6132sTenorofCredit
(2007).doc
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Letter of Credit No. 1328
Pg. 2 •
This letter of credit is not transferable unless Colorado Business Bank agrees to the
transfer in writing.
Please direct any inquiries with regard to this Letter of Credit to Colorado Business Bank,
Loan Operations Department, 821 17,Street, Denver, CO 80202 (303)293-2265.
Colorado Business Bank,
v •
ompson,Vice President
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C:\Documents and SettingsMludwig\Wcal Settings\Temporary Internet Files\OLK63\Zeck Partnership LLLP#1328 Letter of Credit
(2007).doc
CLERK TO THE BOARD
PHONE (970) 336-7215, Ext. 4225
FAX: (970) 352-0242
' P. O. BOX 758
GREELEY, COLORADO 80632
C.
COLORADO
July 13, 2009
COLORADO BUSINESS BANK
2025 PEARL STREET
BOULDER, COLORADO 80302
RE: Letter of Credit#1328 for Zeek Partnership, LLLP
Ladies and Gentlemen:
This letter shall act as a reminder of your obligations to the Board of County Commissioners of Weld
County under the above-referenced Letter of Credit.
As you are aware, on the 25th day of April, 2007, Colorado Business Bank issued an Irrevocable
Standby Letter of Credit on behalf of Zeek Partnership, LLLP, naming the Board of County
Commissioners of Weld County, Colorado as beneficiary. The dollar amount of the Letter of Credit was
established at One Hundred Sixty-three Thousand Five Hundred Fifty-five and 24/100 ($163,555.24).
The terms of the Letter of Credit required that it be maintained by your institution until the 25th day of
April, 2008, with auto renewal unless 60 days notice is provided. It also states this Letter of Credit has a
full and final expiration date of April 25, 2013. If you believe that the Letter of Credit expires prior to that
date, please contact me immediately, as you are required under the terms of the Letter of Credit to
replace it.
If you have any questions regarding this letter or your obligations under the Letter of Credit, or if you
disagree with any of the statements contained herein, please call Donna Bechler, at 970-356-4000,
ext. 4227, or e-mail me at dbechler@co.weld.co.us.
Very truly yours,
Donald D. Warden
Clerk to the Board
By:" Al%lid ` `< /�f%1 t
Deputy Clerk t6 the Board
pc Zeek Partnership, LLLP
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