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Home My WebLink About20060391.tiff 559 RESOLUTION RE: APPROVE CANCELLATIONAND RELEASE OF COLLATERAL FOR PLANNED UNIT DEVELOPMENT FINAL PLAN, PF #1005 - PERCY HAMILTON 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 July 24,2002,the Board approved the application of Percy Hamilton, 36244 Weld County Road 53, Eaton,Colorado 80615,for a Planned Unit Development Final Plan, PF #1005, for five (5) residential lots and 4.7 acres of common open space on the following described real estate, to wit: Lot B of Amended Recorded Exemption#2224;being part of the SW1/4 of Section 33, Township 7 North, Range 64 West of the 6th P.M., Weld County, Colorado, and WHEREAS, on April 14, 2003, the Board of County Commissioner of Weld County, Colorado, approved an Improvements Agreement According to Policy Regarding Collateral for Improvements(Private Road Maintenance)for Mill Creek Planned Unit Development, between the County of Weld, State of Colorado, by and through the Board of County Commissioners of Weld County, and Percy Hamilton with terms and conditions being as stated in said agreement, and accepted Irrevocable Letter of Credit#628, drawn on the Union Colony Bank, 1701 23rd Avenue, Greeley Colorado 80634, in the amount of$60,000.00, and WHEREAS,it has been determined by the Board that the collateral being held by Weld County is no longer necessary to secure said Improvements Agreement According to Policy Regarding Collateral for Improvements (Private Road Maintenance) for Mill Creek PUD, and WHEREAS,staff from the Weld County Department of Public Works has conducted a visual inspection and recommends release of said collateral. NOW,THEREFORE,BE IT RESOLVED by the Board of County Commissioners of Weld County, Colorado, that Irrevocable Letter of Credit #628, drawn on the Union Colony Bank, 1701 23rd Avenue, Greeley Colorado 80634, in the amount of $60,000.00 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. Mill 1111111 1111 VIII 3367559 03/03/2006 11:47A Weld County, CO 1 of 2 R 0.00 o 0.00 Steve Moreno Clerk& Recorder 2006-0391 PL1544 CANCEL COLLATERAL - PERCY HAMILTON PAGE 2 The above and foregoing Resolution was,on motion duly made and seconded,adopted by the following vote on the 6th day of February, A.D., 2006. , . ELI%BOARD OF COUNTY COMMISSIONERS �j' ELD COUNTY, COLORADO & / ATTEST: � �� % ' %%�iO.'%V•' J. ile, Chair Weld County Clerk to the Ail . Long, Pro-Tem BY: lu ti { it L G D uty CI to the Boa4 W .am H. Jerke APP D AS TO 9 )_— Robert D. Masde ount�Attorn Seddi Glenn Vaad Date of signature: 2-1700(4 1111111111111111111111111I 1111111 III BETH 3367559 03/03/2006 11:47A Weld County, CO 2 of 2 R 0.00 D 0.00 Steve Moreno Clerk& Recorder 2006-0391 PL1544 Akiti MEMORANDUM II TO: Board of County Commissioners COLORADO DATE: February 2, 2006 k✓ FROM: Sheri Lockman, Planner II SUBJECT: Release of Collateral Mason View PUD Case Number PF-1005 Percy Hamilton, applicant The Departments of Planning Services and Public Works have reviewed the Improvements for Mill Creek PUD and request that the collateral be released. Items covered under the Improvements Agreement According to Policy Regarding Collateral for Improvements (Private Road Maintenance) include: Street grading $ 10,800. Street base $ 5,544. Water mains $ 12,150. Fire hydrants $ 5,000. Survey and Street monuments and boxes $ 2,500. Street name signs $ 250. Landscaping $ 5,500. Road culvert $ 1,500. Grass lined swale $ 1,100. Telephone $ 2,500. Electric $ 9,895. Engineering and supervision $ 2,500. Total Estimated Cost of Improvements and Supervision $ 59,239. Irrevocable Letter of Credit $ 60,000. 2006-0391 January 30, 2006 To Weld County Planning Department: I, Percy Hamilton, would like to request the letter of credit, from your dept., be released to the Union Colony Bank. The Improvements Agreements have recently been completed on the Mason View subdivision. Thank you, Notebook Stationery Page 1 of 2 Sheri Lockman From: Peter Schei Sent: Friday, January 27, 2006 11:19 AM To: Sheri Lockman Cc: Tracy Dyer; Josh Holbrook; Drew Scheltinga; Jesse Hein; Perry Eisenach Subject: PF-1005 Mason View PUD Importance: High Good Morning, Sheri: Public Works recommends the release of any Collateral monies held for Mason View PUD (PF-1005) associated with infrastructure improvements for the development. No collateral monies are required to be retained for improvements associated with Public Works. Please schedule the release of collateral with the Clerk and BOCC hearing. Note: Other departments may have improvements that will need to be verified by respective departments/ staffing. Have a great weekend, Peter. (Kindly notify the applicant/developer... Percy Hamilton. Thank you.) 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: Friday, January 27, 2006 8:19 AM To: Peter Schei Cc: Tracy Dyer Subject: Mason View P.U.D. (PF-1005) Good Morning Peter: The owner, Percy Hamilton has requested the release of collateral held for Public Works' related items pertaining to Mason View Subdivision(PF-1005) Everything related to the onsite Improvements agreement has been completed to our satisfaction... except for the seeding. They seeded the required areas, but did not add any mulch/straw to help protect the seed over the winter. Mr. Hamilton understands that if/when the seeding does not take this spring he will have to reseed those areas. This was a subdivision that had been 90% completed before our inspection team was developed, so I did not ask for or receive a set of As-Built plans. 01/27/2006 Notebook Stationery Page 2 of 2 This is a private road that will be maintained by the HOA. Joshua Holbrook Engineer Tech I (970)304-6496 ext. 3745 Fax: (970)304-6497 Mobile: (970)301-2622 L @ rook�dco.we l d.co.u s 01/27/2006 e-He ( 'it CLERK TO THE BOARD I PHONE (970) 336-7215, Ext. 4225 WI FAX: (970) 352-0242 P. O. BOX 758 et GREELEY, COLORADO 80632 COLORAD March 9, 2005 Percy Hamilton 36244 Weld County Road 53 Eaton, CO 80615 RE: 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 cancellation and release of collateral, as referenced above. The original Letter of Credit was returned to Union Colony Bank, 1701 23rd 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 trulyyours,/ l jit Carol A. Harding, -- j Deputy Clerk to the Board CLERK TO THE BOARD PHONE (970) 336-7215, Ext. 4225 iggipFAX: (970) 352-0242 C O. BOX O GREELEY, COLORADO 80632 COLORADO March 9, 2005 Union Colony Bank 1701 23rd Avenue Greeley, Colorado 80634 RE: Cancellation and release of Collateral - Percy Hamilton 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, Carol A. Harding, Deputy Clerk to the Board 0) Union Colony Bank Post Office Box 961 Greeley, CO 80632 970-346-5050 866-241-2673 Qt. co 0 $" IRREVOCABLE LETTER OF CREDIT NO. 628 AMENDMENT v la March 24, 2004 c S' V 4tok Weld County Colorado Department of Planning Services ,,5? (Hereinafter call beneficiary) 4v 1555 N. 17th Avenue ovv c Greeley, Colorado 80631 �a Attention: Board of County Commissioners Gentlemen: At the request of and for the account of our client, Percy L. Hamilton, II and Nola L. Hamilton, Union Colony Bank establishes the following amendment to its Commercial Irrevocable Letter of Credit No. 628 in your favor. All of the terms and conditions of our Commercial Irrevocable Letter of Credit remain the same with the following exception: Union Colony Bank Commercial Irrevocable Letter of Credit No. 604 is amended to be extended to become due December 10, 2005. I hereby certify that all other terms and conditions of Union Colony Bank Commercial Irrevocable Letter of Credit No. 628 remain unmodified. Sincerel , Mike Nichols Senior Vice President MN:keo 7 r Member FDIC LENDER IN(,u Luwuy GOER.FY OFFICE UNION COLONY MAR 2 ` 2003 B ANK March 24,2003 IRREVOCABLE LETTER OF CREDIT Weld County Colorado NUMBER: 628 Department of Planning Services AMOUNT: $60,000 (Hereinafter called beneficiary) EXPIRES: March 24, 2004 1555 N. 17th Avenue Greeley, Colorado 80631 Attention: Board of County Commissioners Gentlemen: Please be advised that Union Colony Bank, A State Chartered Bank (hereinafter called the "Issuer"), establishes an Irrevocable Letter of Credit in favor of Weld County Colorado, Department of Planning Services for the account of Percy L. Hamilton, II and Nola L. Hamilton (hereinafter called "Customer") up to the aggregate sum of Sixty Thousand and 00/100 Dollars ($60,000.00) available by Beneficiary's drafts at sight drawn on Issuer. All wafts drawn under this Letter of Credit must bear the clause: "Drawn under Union Colony Bank Letter of Credit No. 628 dated "March 24, 2003". Issuer hereby agrees with Beneficiary that drafts drawn strictly in compliance with the terms of the credit will be duly honored upon due presentation to Issuer. Other terms and conditions -this Letter of Credit shall: 1. Expires at Issuer's counter on or before 3:00 p.m. Mountain time March 24, 2004. 2. Not be transferable; 1701 Twenty Third Avenue • Greeley,GO M34 34 hone 970-356-7000 • Fax 970-346-5084 920 Fifty Fourth Avenue • Greeley,LU'&i t44 one 970-356-7000 • Fax 970-392-0504 1505 Main Street • Windsor,CO 80550 • Phone 970-686-2600 • Fax 970-686-7091 1600 East Bridge Street• Brighton,CO 80601 • Phone 303-659-1622 • Fax 303-637-0084 100 Johnstown Center Drive • Johnstown,CO 80534 • Phone 970-587-4661 • Fax 970-5874533 3. Be governed by the laws of the State of Colorado, including Article Five of the Uniform Commercial Code; and 4. This letter of credit is issued subject to ISP 98. Sincerely, ?itti4e- . Mike Nic o Senior Vice President MN: SJE PLEASE RETURN i RN UPON EXPIRATION Page 2 of 2 Hello