HomeMy WebLinkAbout20062276 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, SPR#397 -
ZEEK PARTNERSHIP, LLLP
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 May 26, 2006, the Department of Planning Services staff approved Site
Plan Review, SPR#397, for Zeek Partnership, LLLP, 4068 Camelot Circle, Longmont, Colorado
80504, for cold/dry storage units on the following described real estate, to-wit:
Lots 5 and 6, Block 1, Rademacher Business Park;
being part of the NW1/4 of Section 23, Township 3
North, Range 68 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 Zeek Partnership, LLLP, with terms and conditions
being as stated in said agreement, and
WHEREAS, the Board has been presented with Irrevocable Standby Letter of Credit
No. 1269 from Colorado Business Bank, 2025 Pearl Street, Boulder, Colorado 80302, in the
amount of $196,817.50, 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, be,and
hereby is, approved.
BE IT FURTHER RESOLVED that Irrevocable Standby Letter of Credit No. 1269 from
Colorado Business Bank, 2025 Pearl Street, Boulder, Colorado 80302, in the amount of
$196,817.50, be and hereby is, accepted.
2006-2276
PL1851
/1'0 : fir 6)e) PLJ)e-u 47°°Z--
IMPROVEMENTS AGREEMENT- ZEEK PARTNERSHIP, LLLP
PAGE 2
The above and foregoing Resolution was, on motion duly made and seconded, adopted by
the following vote on the 21st day of August, A.D., 2006.
-el 1 f BOARD OF COUNTY COMMISSIONERS
`') WELD CO , COLORADO
r
ATTEST:
1
J. ile, C it
Weld County Clerk to they: 146
/ .� -
c_zu c.sC.z
David E. Long, Pro-Tern
BY:
Dep Clerk t rthe Board
Wi m Jer e
APP DASTOFO \\\No__
Rob rt D. Masden
un A or y EXCUSED
Glenn Vaad
Date of signature: R li /m
2006-2276
PL1851
330
IMPROVEMENTS AGREEMENT ACCORDING TO
POLICY REGARDING COLLATERAL FOR IMPROVEMENTS
(PRIVATE ROAD MAINTENANCE)
THIS AGREEMENT,made and entered into this.ZJ day of ti'^d/4 , 20L, by and between
the County of e Stat9 of Clad acti �t ugh its Board of County Commissioners,hereinafter ailed"County,"
and�Grj/2n ./ j1f, Thereinafter called "Applicant."
WITNESSETH:
WHEREAS,Applicant is the owner of,or has a controlling interest in the following described property in the
County of Weld,Colorado: /�� J Q
seik‘ g%el / Awn" / /leceixievt-
,Sa v/61'? A jsHc
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 construction of the public 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.
NO W,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 ofColorado,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 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 statem ent 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 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 ofall suits,actions or claims of everynature 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,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 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 faithfully 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 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 standards,he or she shall recommend full approval. Upon a receipt ofa positive
unqualified recommendation from the County Engineer for approval of streets within the 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 re corded 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 Plat approval 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(I)year after the FinalPlat 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
oerce t(100%)of[he value o h 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
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 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 Improvements 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 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 improvements as set forth in Section 6.0 and Exhibits"A" and "B."
8.1.2 The LetterofCredit shallprovide for payment upon 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%)of 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 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 will not release any portion of such
funds without prior approval of the Weld County Board o f 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 es crowed 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 Weld County,the Applicant must present a Statement of Substantial Compliance from an Engineer
registered in Colorado that theproject or a 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 ofcollateral 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 C ounty
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 ofthe required acreage as determined according to 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,personal 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 Agreementto be executed on thed y and year
first above written.
APPLICANT: �1
APPLICANT:
TITLE: <n-9
Subscribed and sworn to before me this Z-I day of jrt4&vr k , 20 G G
r
in '�:
My Commission expires: _ 1itaLk�J�1�� NOTARY _
ct-2g - <.,." Notary Public �. ...�,,.� ,
op do,
sc... plonFvp%'e,cc:a& ,,;<.,
ATTEST: faidead BOARD OF COUNTY COMMISSIONERS
�v WELD COUNTY COLORADO
Weld County Clerk to the Board Etta i
;351 y- h, QvJ Gelb , Chair
4 AUG 2 1 2006
BY:C\1;aLlti 1= (� i1c tt .17'Dey Clerk la the Board �� *( " ' ' t �
APPROVED AS TO FORM:
orney
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s'-� ._7e
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EXHIBIT "A"
Name of Subdivision
or Planned Unit Development/C IS ��'� es/cc, ,6771//,/,‘,,,,derc7E
y-,„3 a pE/v—
Filing
Location: 7 /O _[ :f ,✓r�RoL
l. G�-� -------- -----
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 . re
Street grading
Street base
Street paving tc,in3 c /�� a Co
Curbs, gutters, and culverts ".j L F 17 42440
Sidewalk
Storm sewer facilities 4,OO 2.0 / 2J
Retention ponds ��
Ditch Improvementsczn J Sp e)
Subsurface drainage
Sanitary sewers t 7S" IF R 3°' Lig Ss 7-ra
Trunk and forced lines
Mains
Laterals (house connected)
On-site sewage facilities c-OO `.,Z,c2
On-site water supply and storage
Water Mains (includes bore)
Fire hydrants
Survey and street monuments and boxes
Street lighting
Street Names
Fencing requirements
Landscaping G S 5390 St::90
Park improvements R/
Road culvert
Grass lined swale
Telephone
Gas
Electric
Water transfer
SUB-TOTAL:
Engineering and Supervision Costs$ 57.52,C1
(Testing,inspection,as-built plans and work in additionto preliminary and final plat;supervision of actual construction
by contractors)
TOTAL ESTIMATED COST OF IMPROVEMENTS AND SUPERVISION $0/7// .. R ce
�7
The above improvements shall be constructed in accordance with all County requirements and specifications, and
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EXHIBIT "B"
Name of Subdivision I
or Planned Unit Development: Z ��'� An- i
pv Kant 5U �
� -')c'i
Filing: /J 0Ci/S�'S�Y�`� v
Location: V6 70 eArne/L
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__/___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 71/4,C
Street base >v
Street paving FC/04.
Curbs,gutters, and culverts
Sidewalk
Storm sewer facilities -7/O4
Retention ponds 6/06
Ditch improvements ��/04
Subsurface drainage
Sanitary sewers 4-/ C
Trunk and forced lines
Mains
Laterals(house connected)
On-site sewage facilities
On-site water supply and storage
Water mains /pd
Fire hydrants 7/6‘
Survey and street monum ents and boxes
Street lighting
Street name signs
Fencing requirements
Landscaping /O.1/47 6
Park improvem ents
Road culvert
Grass lined swab
Telephone
Gas
Electric
Water Transfer
SUB-TOTAL:
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The County,at its option, and upo e request of the Applicant,may grant an extension of time for completion for any
: cumovem0sh0atuTn
artilar ip r , a showing by the Applicant that the above schedule cannot be met.
y
Applicant
Applicant
Date: 5—,0,2%I , 2006
Title
(If corporation, to be signed by President and attested to by Secretary, together with corporate seal.)
11111111111111111111111 111111111 all 111 111111 III 1111 11
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UCOLORADO `7 /rye ,
BUSINESS BANK
-t/,
IRREVOCABLE STANDBY LETTER OF CREDIT
Letter of Credit Number: 1269
Expiration Date: August 10, 2007
Date: August 10, 2006
Beneficiary Name: Board of County Commissioner of Weld County
Address: 918 10th St.
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. 1269 in your favor in the
amount of One Hundred Ninety Six Thousand Eight Hundred Seventeen and 50/100 U.S.
Dollars (USD $196,817.50) and expiring at the close of business (3:00 p.m. Mountain
Time) on August 10, 2007 at our counters at Colorado Business Bank, Loan Operations
Department 3rd floor, 821 17th Street, Denver, CO 80202.
This letter of credit is available by presentation of your draft at sight, drawn on Colorado
Business Bank, accompanied by the original letter of credit and amendment(s), if any. In
the event of a partial draw, this letter of credit is available by presentation of your draft at
sight, drawn on Colorado Business Bank and certified copies of the original letter of
credit and amendment(s), if any.
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 will also have a full and final expiration date of
August 10, 2012.
2025 Pearl Street, Boulder, Colorado 80302 (303)413-6000 Fax(303) 786-9701
Letter of Credit No. 1269
Pg. 2
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.
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 17th Street, Denver, CO 80202 (303)293-2265.
Colorado Business Bank,
1/41: Y-7 if
ompson, Vice President
fatarg MEMORANDUM
WINC TO: Board of County Commissioners August 14, 2006
COLORADO FROM: Jacqueline Hatch
SUBJECT: SPR-397, Zeek Partnership
The Department of Planning Services received an Irrevocable Standby Letter of Credit for the
Private Improvements Agreement for SPR-397 (Zeek Partnership).
The collateral for the Improvements Agreement is in the amount of one hundred ninty six
thousand and eight hundred and seventeen dollars and fifty cents ($196,817.50) for the
improvements on-site.
After review of the collateral by the Weld County Attorney, the Department of Public Works and
the Department of Planning Services, it has been determined that the amount of the agreement
will be sufficient to complete the improvements required for SPR-397.
Page 1 of 1
Jacqueline Hatch
From: Perry Eisenach
Sent: Wednesday, August 02, 2006 9:03 AM
To: Jacqueline Hatch
Cc: Jesse Hein; ted@alfaconstruction.net
Subject: Cold Storage
Hi Jacqueline,
As per a request from Ted Drysdale, this e-mail is to confirm that Public Works is OK with the values of the
improvements in the Improvements Agreement for this project and that it can go to the BOCC for approval.
Please let me know if you have any questions.
Thanks,
Perry
Perry Eisenach, P.E.
Engineering Division Manager
Weld County Public Works Dept.
1111 H Street, P.O. Box 758
Greeley, CO 80632
(970) 304-6496, Ext. 3758
FAX: (970) 304-6497
peisenachAco.weld.co.us
8/2/2006
ALFA C N 0 TR S UCTI N OL LC
Landscape Proposal for Zeek Partnership, LLLP
Lots 5 & 6, Block 1
13 Pinion Pines 5' @ 100.00 $1300.00
23 Arcadia Juniper 5 gal. @ 20.00 460.00
29 Blue Chip Juniper 5 gal. @ 20.00 580.00
1-1/2 River Rock 1200.00
Grass Seed 200.00
Irrigation Supplies 1550.00
$5290.00
Sources:
L&M Garden Center, Berthoud, Co
CPS Irrigation Supply, Longmont, Co
Arkansas Seed, Mead, Co
Hall-Irwin, Firestone
Tel: 970-535-6074
Fax: 970-535-6078
4068 Camelot Circle
Longmont, CO 80504
6
CLERK TO THE BOARD
PHONE (970) 336-7215, Ext. 4225
FAX: (970) 352-0242
P. O. BOX 758
GREELEY, COLORADO 80632
C.
COLORADO
July 10, 2009
COLORADO BUSINESS BANK
2025 PEARL STREET
BOULDER, COLORADO 80302
RE: Letter of Credit#1269 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 10th day of August, 2006, 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 Ninety-six Thousand Eight Hundred Seventeen and 50/100 ($196,817.50).
The terms of the Letter of Credit require that it be maintained by your institution until the 10th day of
August, 2007, with auto renewal unless 60 days notice is provided. If you believe that the Letter of
Credit expired 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
eputy Clerk the oard
pc Zeek Partnership, LLLP
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