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Home My WebLink About20063502.tiff 778 RESOLUTION RE: APPROVE PARTIAL CANCELLATION AND RELEASE OF COLLATERAL AND ACCEPTANCE OF REPLACEMENT COLLATERAL FOR PLANNED UNIT DEVELOPMENT FINAL PLAN, PF #1058 - FRANCISCO GARCIA 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 1, 2006, the Department of Planning Services staff approved a Planned Unit Development Final Plan, PF #1058, for Francisco Garcia, 1959 Blanco Court, Loveland,Colorado 80538,for Las Haciendas Planned Unit Development for eight(8)Estate lots and one Agricultural lot,with 11.2 acres of open space on the following described real estate,to-wit: Lot B of Recorded Exemption#3300,being part of the W1/2NE1/4 of Section 5, Township 4 North, Range 68 West of 6th P.M., Weld County, Colorado WHEREAS, on March 8, 2006, the Board of County Commissioners of Weld County, Colorado, approved an Improvements Agreement According to Policy Regarding Collateral for Improvements(Public Road Maintenance)for Las Haciendas Planned Unit Development,between the County of Weld,State of Colorado, by and through the Board of County Commissioners of Weld County,and with terms and conditions being as stated in said agreement,and accepted Irrevocable Letter of Credit No. 18, drawn on the Colorado Community Bank of Loveland, in the amount of $240,290.36, and WHEREAS,staff from the Weld County Department of Public Works has conducted a visual inspection and recommends a partial release of said collateral, in the amount of $153,241.86, retaining $87,048.50, and WHEREAS,upon recommendation of staff, the Board deems it advisable to release said collateral. WHEREAS,the Board has been presented with Irrevocable Letter of Credit No. 022, from Colorado Community Bank of Loveland, 1050 Eagle Drive, Loveland,Colorado 80537,in the amount of$87,048.50. NOW,THEREFORE,BE IT RESOLVED by the Board of County Commissioners of Weld County,Colorado,that Irrevocable Letter of Credit#018,drawn on the Colorado Community Bank of Loveland, in the amount of$240,290.36 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. 1111111 11111 11111 1111 111111 1111111II 1111111111 t it l 3447778 01/12/2007 03:17P Weld County, CO 1 of 2 R 0.00 0 0.00 Steve Moreno Clerk& Recorder 2006-3502 PL1782 l ' PL_ ,�&/ rz,e ls) e1_77 -e7 CANCEL COLLATERAL - FRANCISCO GARCIA PAGE 2 BE IT FURTHER RESOLVED by the Board that Irrevocable Letter of Credit No.022,drawn on Colorado Community Bank of Loveland, in the amount of $87,048.50, be, and hereby is, accepted as replacement collateral. The above and foregoing Resolution was,on motion duly made and seconded,adopted by the following vote on the 20th day of December, A.D., 2006. BOARD OF C NTY COMMISSIONERS E ll..a WELD COU Y, COLORADO ATTEST: Ar tro . J. eile, Chair Weld County Clerk to th61Etotqb Excused BY:( � ) 1 u h� David E. Long, Pro-Tem Dep Cler to the Board 'L ' KA Will. H. Jerke APPROVED AS TO F &.\D— � Robe D. Maslen /Eodnty Attorney tigi ud 0 eieR Glenn Va Date of signature: IZI20`0fF 1 111111 11111 In/III 1111111111111 III 11111 1111 1111 3447778 01/12/2007 03:17P Weld County, CO 2 of 2 R 0.00 D 0.00 Steve Moreno Clerk& Recorder 2006-3502 PL1782 40 MEMORANDUM ITO: Esther Gesick, Clerk to the oa DATE: 08-December-2006 ikFROM: Peter Schei,P.E., Pub � ., �epartment COLORADO SUBJECT: PF-1058 Las Haci das'ID(Final Plat)partial collateral release Weld County Public Works Department has reviewed collateral materials and has the following development referral comments. Comments ❑ Francisco Garcia, Jr., the applicant, has requested a partial release of warranty collateral for PF-1058 Las Haciendas PUD through his engineer Dennis Messner,P.E. in a letter to Public Works dated October 24,2006. ❑ Public Works' Field Inspector, Donald Stang, has submitted an email dated November 29th, 2006, verifying this partial release of collateral. The following was noted: o Mr. Garcia has submitted AS-BUILT plans, letters of substantial compliance from the appropriate utility companies, material testing results and acceptance by Berthoud fire protection district. Confirming everything relating to Public Works' has been completed except for two areas of paving. The entrance and the cul-de-sac. o Celeste Lane is going to be a County maintained road when completed. o 75 %of paving was completed on 7-7-2006. ❑ The total amount of collateral being held associated with this development is $240,290.36. ❑ Weld County Public Works has inspected infrastructure and recommends the release of collateral monies in the amount of$153,241.86 identified in a letter of compliance by the engineer of record dated October 24, 2006, from Dennis Messner, P.E. with Messner Engineering, Inc. and verified by Public Works. ❑ The Clerk may schedule the release of warranty collateral in the amount of$153,241.86 with the Board of County Commissioners. Additionally, (outstanding) replacement warranty collateral from the applicant in the amount of $87,048.50 shall be secured by the County for a period of not less than one-year. Recommendation ❑ Public Works recommends the partial release of warranty collateral as directed above for this development. The Clerk may proceed,with no restrictions by Public Works.' PC:PF-1058 Las Haciendas PUD(Final Plat)partial collateral release Email&Original:Planner:Esther Gesick CC:Planner:Kim Ogle PC by Post: Applicant:Francisco Garcia,Jr. PC by Post: Engineer:Messner Engineering,Inc. Page 1 of 1 2006-3502 Clear Day Page 1 of 1 Donna Bechler From: Esther Gesick Sent: Friday, December 08, 2006 1:40 PM To: Donna Bechler Subject: FW: PF-1058 partial release of collateral Importance: High From: Peter Schei Sent: Friday, December 08, 2006 1:00 PM To: Francisco Garcia Jr. (hbinc1004@qwest.net) Cc: 'Dennis Messner; Esther Gesick; Donald Stang; Kim Ogle Subject: PF-1058 partial release of collateral Importance: High 08-Dec-2006. Good Afternoon, Fran: Please coordinate a replacement letter of credit for the outstanding infrastructure in the amount of$87,048.50 with the Clerk to the Board (Esther Gesick). I will be sending out a memorandum to the Clerk(today) from the Public Works Department requesting your partial release of collateral in the amount of$153,241.86. Thank you for all your cooperation and good work ! Have a great day, Peter. HAPPY HOLIDAYS Peter SCHEI,P.E.,N.S P.E. Public Works Department Weld County 12/8/2006 Clear Day Page 1 of 2 Donna Bechler From: Esther Gesick Sent: Friday, December 15, 2006 11:25 AM To: Donna Bechler Subject: FW: PF-1058 partial release of collateral Importance: High From: Peter Schei Sent: Friday, December 15, 2006 9:48 AM To: Hacienda Builders Cc: Esther Gesick; Tracy Dyer Subject: RE: PF-1058 partial release of collateral Importance: High 15-Dec-2006. Good Morning, Fran: I received your new Letter of Credit from Colorado Community Bank of Loveland for$87,048.50. It will go out in the interoffice mail to the Clerk who will schedule this item for the BOCC. The Clerk will put it on the schedule if everything is in order and at the earliest time available. I will attend the BOCC hearing to be available should there be any questions with respect to Public Works' items. Have a nice day, Peter. HAPPY HOLIDAYS Peter SCHEI,P.E.,N.S.P.E. Public Works Department Weld County From: Hacienda Builders [mailto:hbinc1004@qwest.net] Sent: Thursday, December 14, 2006 2:06 PM To: Peter Schei Subject: Re: PF-1058 partial release of collateral Peter, I wanted to follow up with you on the replacement letter of credit I took over on Tuesday. I was hoping to get on Monday's agenda for the board as I have some pending invoices I'd like to get paid. Would this be possible? thanx Original Message From: Peter Schei To: hbinc1004nagwest.net Cc: Dennis Messner ; Esther Gesick; Donald Stang ; Kim Ogle 12/15/2006 Clear Day Page 2 of 2 Sent: Friday, December 08, 2006 1:00 PM Subject: PF-1058 partial release of collateral 08-Dec-2006. Good Afternoon, Fran: Please coordinate a replacement letter of credit for the outstanding infrastructure in the amount of$87,048.50 with the Clerk to the Board (Esther Gesick). I will be sending out a memorandum to the Clerk(today) from the Public Works Department requesting your partial release of collateral in the amount of$153,241.86. Thank you for all your cooperation and good work ! Have a great day, Peter. HAPPY HOLIDAYS Peter SCHEI,P.E.,N.S.P.E. Public Works Department Weld County 12/15/2006 Colorado Community Bank of Loveland 1050 Eagle Drive IRREVOCABLE LETTER OF CREDIT NO. 022 Loveland, CO 80537 Replacement of Letter of Credit No. 018 (970) 278-0040 December 11, 2006 Board of County Commissioners ATTN: Clerk to the Board Po Box 758 Greeley, CO 80632 Re: Hacienda Builders, Inc We hereby open our Irrevocable Letter of Credit in your favor for the account of Hacienda Builders, Inc for a sum not to exceed the aggregate of(Eighty Seven thousand forty eight dollars and fifty cents) $87,048.50 Each draft so drawn must be marked"Drawn under COLORADO COMMUNITY BANK LETTER OF CREDIT NO. 022, 1050 EAGLE DRIVE, LOVELAND CO 80537"and be accompanied by a signed statement from the Board of County Commissioners of Weld County, Colorado stating the builder has committed a material breach of the Improvements Agreement According to Policy Regarding collateral for Improvements regarding PF-1058 Las Haciendas PUD dated the 26th day of January, 2006 by and between Hacienda Builders, Inc and the Board of County Commissioners of the County of Weld. This credit is subject, so far as applicable, to The Uniform Customers and Practice for Documentary Credits, 1993 Revision, the International Chamber of Commerce Publication No. 500. We hereby agree with you that all drafts under and in compliance with the terms of this credit will be duly honored and presented for payment to our main office, COLORADO COMMUNITY BANK, 1050 EAGLE DRIVE, LOVELAND CO 80537. This letter of credit will expire on March 27, 2007 at 5:00 p.m. 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 COLORADO COMMUNITY 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 COLORADO COMMUNITY 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 COLORADO COMMUNITY BANK the Letter of Credit No. 022 will not be renewed that Hacienda Builders, Inc has failed to provide proof of adequate collateral and substitution of the Letter of Credit No. 022; (c)copy of letter from COLORADO COMMUNITY BANK stating non-renewal of Letter of Credit No. 022 and the original letter of credit. Your truly, ti,LZW.tie o ---- Harry M rg an an Branch President t>, 'yO Gtr to 9 'LFS\ f oati ea t tet 5 c�e tia tcm 0 0 4, t� 0 rytea��yy� e � Colorado Community Bank of Loveland Qo� c, 1050 Eagle Drive 'q4 De4 IRREVOCABLE LETTER OF CREDIT NO. 018 Loveland, CO 80537 (970) 278-0040 January 27, 2006 Board of County Commissioners ATTN: Clerk to the Board Po Box 758 Greeley, CO 80632 Re: Hacienda Builders, Inc We hereby open our Irrevocable Letter of Credit in your favor for the account of Hacienda Builders, Inc for a sum not to exceed the aggregate of(two hundred forty thousand two hundred ninety dollars and thirty six cents) $240,290.36. Each draft so drawn must be marked "Drawn under COLORADO COMMUNITY BANK LETTER OF CREDIT NO. 018, 1050 EAGLE DRIVE, LOVELAND CO 80537" and be accompanied by a signed statement from the Board of County Commissioners of Weld County, Colorado stating the builder has committed a material breach of the Improvements Agreement According to Policy Regarding collateral for Improvements regarding PF-1058 Las Haciendas PUD dated the 26th day of January, 2006 by and between Hacienda Builders, Inc and the Board of County Commissioners of the County of Weld. This credit is subject, so far as applicable, to The Uniform Customers and Practice for Documentary Credits, 1993 Revision, the International Chamber of Commerce Publication No. 500. We hereby agree with you that all drafts under and in compliance with the terms of this credit will be duly honored and presented for payment to our main office, COLORADO COMMUNITY BANK, 1050 EAGLE DRIVE, LOVELAND CO 80537. This letter of credit will expire on March 27, 2006 at 5:00 p.m. 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 COLORADO COMMUNITY 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 COLORADO COMMUNITY 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 COLORADO COMMUNITY BANK the Letter of Credit No. 018 will not be renewed that Hacienda Builders, Inc has failed to provide proof of adequate collateral and substitution of the Letter of Credit No. 018; (c) copy of letter from COLORADO COMMUNITY BANK stating non-renewal of Letter of Credit No. 018 and the original letter of credit. Yours tr ly, di der Harry M. M an Branch President rs CLERK TO THE BOARD I PHONE (970) 336-7215, Ext. 4225 FAX: (970) 352-0242 P. O. BOX 758 O GREELEY, COLORADO 80632 • COLORADO December 20, 2006 FRANCISCO GARCIA 1959 BLANCO COURT LOVELAND CO 80538 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 Colorado Community Bank of Loveland, 1050 Eagle Drive, Loveland, Colorado 80537. If you have questions or need additional information, please do not hesitate to contact me at(970) 356-4000, Extension 4217. Very truly yours, 4O11t- Vi Donna J. Bechler Deputy Clerk to the Board CLERK TO THE BOARD liD PHONE (970) 336-7215, Ext. 4225 FAX: (970) 352-0242 P. O. BOX 758 O GREELEY, COLORADO 80632 COLORADO December 20, 2006 COLORADO COMMUNITY BANK OF LOVELAND 1050 EAGLE DRIVE LOVELAND CO 80537 RE: Partial Cancellation and release of Collateral - Francisco Garcia/Hacienda Builders 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:4,21—!/P/1` c`'d/°//i1 Donna J. Bitchier, Deputy Clerk to the Board FAX TRANSMISSION 4*CCIR\ IIiD . WELD COUNTY CLERK O THE BOARD COLORADO Fax: 970-352-0242 Phone: 970-356-4000, ext. 4227 To: Fran Garcia Date: December 20, 2006 Fax: 970-663-5598 Pages: 5 (with cover) Phone: From: Donna Bechler Clerk to the Board Subject: Resolution and Letter of Credit. Hard copy will follow next week. COMMENTS: CONFIDENTIAL This facsimile is intended onl for the use of the individual or enti to which it is addressed and ma contain information that is rivile ed confidential and exem t from disclosure under applicable lam. If the reader of this facsimile is not the intended recipient nor the employee or agent responsible for delivering the facsimile to the intended recipient,you are hereby notified that any dissemination, distribution, or copying of this communication is strictly prohibited. If you have received this communication in error, please notify us immediately by telephone and return the original message to us at the above address via the U.S. Postal Service. Thank you. Hello