HomeMy WebLinkAbout20061873.tiff RESOLUTION
RE: APPROVE IMPROVEMENTS AGREEMENT ACCORDING TO POLICY REGARDING
COLLATERAL FOR IMPROVEMENTS (PUBLIC ROAD MAINTENANCE),AUTHORIZE
CHAIR TO SIGN, AND ACCEPT COLLATERAL FOR SIERRA ACRES PLANNED UNIT
DEVELOPMENT PLAN, PF #1089 - MBM ENTERPRISES, LLC/BRAVO INTERESTS,
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 December 7, 2005, the Board of County Commissioners approved the
application of MBM Enterprises, LLC, 6425 Clearwater Drive, Loveland, Colorado 80538, for
Change of Zone, PZ #1089, from the A (Agricultural) Zone District to a PUD (Planned Unit
Development) Zone District for nine (9) residential lots with E (Estate) Zone uses, along with two
agricultural outlots and common open space, and on the following described real estate, to-wit:
WHEREAS, on May 5, 2006, the Department of Planning Services staff approved a
Planned Unit Development Final Plan, PF#1089,for MBM Enterprises, LLC/Bravo Interests, LLLP,
6425 Clearwater Drive, Loveland, Colorado 80538, for nine(9) residential lots with E(Estate)Zone
uses, along with two agricultural outlots and common open space, on the following described real
estate, to-wit:
Lot B of Recorded Exemption #3006; being part of
the NE1/4 of Section 19, Township 6 North, Range
66 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 (Public
Road Maintenance) between the County of Weld, State of Colorado, by and through the Board of
County Commissioners of Weld County, and MBM Enterprises, LLC/Bravo Interests, 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. 670 from Union Colony Bank, P.O. Box 961, Greeley, Colorado 80632, for the account of
Bravo Interests, LLLP, in the amount of$85,400.00, 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(Public Road Maintenance)between the County of Weld, State of Colorado, by and
through the Board of County Commissioners of Weld County, and MBM Enterprises, LLC/Bravo
Interests, LLLP, be, and hereby is, approved.
2006-1873
�c: Erma) PL p i Appi. PL1803
IMPROVEMENTS AGREEMENT- MBM ENTERPRISES, LLC/BRAVO INTERESTS, LLLP
PAGE 2
BE IT FURTHER RESOLVED that Irrevocable Standby Letter of Credit No. 670 from Union Colony
Bank, P.O. Box 961, Greeley, Colorado 80632, for the account of Bravo Interests, LLLP, in the
amount of$85,400.00, be and hereby is, accepted.
The above and foregoing Resolution was, on motion duly made and seconded, adopted by
the following vote on the 12th day of July, A.D., 2006.
BOARD OF COUNTY COMMISSIONERS
1 . J WELD C. TY, COLORADO
ATTEST: gte#' -Mt
eile, Chair
Weld County Clerk to the :�s.- '� it
",,, h 7'7j FC t David E. Long, Pro-Tern
BY: A 2,i1,i ,1 tiliL .;r—' /
Deity Cle�i(to the Board et T1, Av
am H. Jerke AP V AS TO FO �nn�V "`�'----d
Ro ert D. a den
o y ttorney a /
Glenn Va
Date of signature: -7/2q hi'
2006-1873
PL1803
194
IMPROVEMENTS AGREEMENT ACCORDING TO
POLICY REGARDING COLLATERAL FOR IMPROVEMENTS
(PUBLIC ROAD MAINTENANCE)
L-VIN
THIS AGREEMENT,made and entered into this—) day of i L 6 2000,,by and
between the County of Weld, State of Colorado, acting through its Board of14ounty Commissioners,
hereinafter called "County," and MBMEntetprises, LLC, hereinafter called "Apple nt."
WITNESSETH:
WHEREAS, Applicant is the owner of, or has a controlling interest in the following described
property in the County of Weld, Colorado:
Sierra Acres P.U D., a Planned Unit Development(PUD) located in the Northeast Quarter(NE 9,)ofSection
19, Township 6 North (T 6N), Range 68 West(R.68W), Sixth Principal Meridian, Weld County, Colorado.
WHEREAS,a final Subdivision/Planned Unit Development(PUD)Plat of said property,to be known
as Sierra Acres P.U.D. 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 Improvements 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.
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
or Planned Unit Development to the County for approval prior to the letting of any
construction contract. Before acceptance of the roads within the Subdivision or
Planned Unit Development by the County, Applicant shall furnish one set of
reproducible "as-built" drawings and a final statement of construction cost to the
County.
111111 11111 11111 IIII 1111111 IIIII 111111 III 11111 IIII IIII 1—of
3406194 07/27/2006 12:41P Weld County, CO
1 of 14 R 0.00 D 0.00 Steve Moreno Clerk& Recorder okete - /272
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. All
such rights-of-way and easements used for the construction of roads to be accepted by the
County shall be conveyed to the County and the documents of conveyance shall be furnished
to the County for recording.
3.0 Construction: Applicant shall furnish and install, at its own expense, the Subdivision or
Planned Unit 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"
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 of all 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 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
111111 11111 11111 IIII 1111111 11111 111111 III 11111 IIII IIII 14�
3406194 07/27/2006 12:41P Weld County, CO
2 of 14 R 0.00 0 0.00 Steve Moreno Clerk& Recorder
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.
5.0 Off-Site Improvements Reimbursement Procedure: The subdivider,applicant,or owner may
be reimbursed for off-site road improvements as provided in this section when it has been
determined by the Board of County Commissioners that the road facilities providing access to
the Subdivision or Planned Unit Development are not adequate in structural capacity,width,
or functional classification to support the traffic requirements of the uses of the Subdivision or
Planned Unit Development.
5.1 The subdivider, applicant, or owner shall enter into an off-site improvements
agreement prior to recording the final plat when the subdivider, applicant,or owner
expects to receive reimbursement for part of the cost of the off-site improvements.
5.2 The off-site improvements agreement shall contain the following:
The legal description of the property to be served.
The name of the owner(s)of the property to be served.
A description of the off-site improvements to be completed by the
subdivider, applicant, or owner.
The total cost of the off-site improvements.
The total vehicular trips to be generated at build-out by the Subdivision,
Resubdivision, or Planned Unit Development, as specified by the ITE Trip
Generation Manual, or by special study approved by the Board of County
Commissioners.
A time period for completion of the off-site improvements.
The terms of reimbursement.
The current address of the person to be reimbursed during the term of the
agreement.
Any off-site improvements agreement shall be made in conformance with the
Weld County policy on collateral for improvements.
5.3 If the subdivider, applicant, or owner fails to comply with the improvements
agreement, the opportunity to obtain reimbursement under this section is forfeited.
5.4 When it is determined by the Board of County Commissioners that vehicular traffic
from a Subdivision, Resubdivision, or Planned Unit Development will use a road
improvement constructed under an improvements agreement, the subsequent
subdivider,applicant,or owner shall reimburse the original subdivider,applicant,or
owner, for a portion of the original construction cost. In no event shall the original
subdivider, applicant, or owner collect an amount which exceeds the total cost of
improvements less the pro rata share of the total trip impacts generated by the
original development. Evidence that the original subdivider,applicant,or owner has
been reimbursed by the subsequent subdivider,applicant or owner shall be submitted
to the Depaitnient of Planning Services prior to recording the Subdivision,
Resubdivision, or Planned Unit Development Final Plat.
11111111111111111111111 11111111111III111111111IIII 14�
3406194 07/27/2006 12:41? Weld County, CO
3 of 14 R 0.00 D 0.00 Steve Moreno Clerk& Recorder
5.5 The amount of road improvement costs to be paid by the subsequent subdivider,
applicant,or owner of a Subdivision,Resubdivision,or Planned Unit Development
using the road improvements constructed under a prior improvement agreement will
be based upon a pro rata share of the total trip impacts associated with the number
and type of dwelling units and square footage and type of nonresidential
developments intended to use the road improvement. The amount of road
improvement costs shall also consider inflation as measured by the changes in the
Colorado Construction Cost Index used by the Colorado Division of Highways. The
cost of road improvements may be paid by cash contribution to the prior subdivider,
applicant or owner, or by further road improvements which benefit the prior
subdivider, applicant, or owner's property. This decision shall be at the sole
discretion of the Board of County Commissioners based upon the need for further
off-site road improvements.
5.6 The report entitled TRW GENERATION (Third Edition, 1982) of the institute of
Transportation Engineers shall normally be used for calculating a reasonable pro rata
share of the road improvement construction costs for all Subdivisions,
Resubdivisions,or Planned Unit Developments. A special transportation study shall
be used for land uses not listed in the ITE Trip Generation Manual. Any question
about the number of trips a Subdivision, Resubdivision, or Planned Unit
Development will generate shall be decided by the County Engineer.
5.7 The term for which the subdivider,applicant,or owner is entitled to reimbursement
under the off-site improvements agreement,entered into between the subdivider and
the County, is ten years from the date of execution of a contract for road
improvements.
5.8 This provision is not intended to create any cause of action against Weld County or
its officers or employees by any subdivider, applicant,or owner for reimbursement,
and in no way is Weld County to be considered a guarantor of the monies to be
reimbursed by the subsequent subdividers, applicants, or owners.
6.0 Acceptance of Streets for Maintenance by the County: Upon compliance with the following
procedures by the Applicant,streets within a Subdivision or Planned Unit Development may
be accepted by the County as a part of the County road system and will be maintained and
repaired by the County.
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 acceptance of said portions.
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 of
work on the Subdivision or Planned Unit Development improvements in that phase
of the development are 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
4
11111111111 II111111111111111111111111111 I 111111// 1 B
3406194 07/27/2006 12:41P Weld County, CO
4 of 14 R 0.00 D 0.00 Steve Moreno Clerk & Recorder
applicant(s)may request in writing that the County Engineer inspect the streets and
recommend that the Board of County Commissioners accept them for partial
maintenance by the County. Partial maintenance consists of all maintenance except
for actual repair of streets, curbs and gutters, and related street improvements. Not
sooner than nine months after acceptance for partial maintenance of streets, 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 shall recommend acceptance of the streets for full maintenance.
Upon a receipt of a positive unqualified recommendation from the County Engineer
for acceptance of streets within the development, the Board of County
Commissioners shall accept said streets as public facilities and County property,and
shall be responsible for the full maintenance of said streets including repair.
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. If acceptable collateral has not been submitted
within six(6)months then the Final Plat approval and all preliminary approvals shall
automatically expire. An 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(1) year after the Final Plat approval
fnot 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 of 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 Plan or Subdivision Final
Plan. 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." The costs
of the improvements described in Exhibit"A"will be adjusted higher or lower for the
year and quarter in which the contemplated work is being performed based on "The
State Highway Bid Price Index" contained in the "Quarterly Cost Report" of The
1 1111 11111 VIII III Mit 11111 111111 III 11111 IIII 1111
3406194 07/27/2006 12:41P Weld County, CO
5 of 14 R 0.00 D 0.00 Steve Moreno Clerk& Recorder
Engineering News-Record as published by The McGraw-Hill Companies. The
applicant has provided cost estimates for all phases of the development which will be
adjusted in accordance with The State Highway Bid Price Index at the time of
posting of collateral for each phase.
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 to 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 Letter of Credit shall provide for payment upon demand to Weld County
if the developer has not performed the obligations specified in the
Improvements Agreement and the issuer 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:
11111111111111111 (Hi111111111111111111III111111111IIII 4..
3406194 07/27/2006 12:41P Weld County, CO
6 of 14 R 0.00 0 0.00 Steve Moreno Clerk& Recorder
•
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 of Commissioners.
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 Weld County,the Applicant must present a Statement of Substantial
Compliance from an Engineer registered in the State of Colorado that the project or a portion
of the project has been completed in substantial compliance with approved plans and
specifications documenting the following:
I 11111111111111111111111111111111111111III11111IIII IIII 7of14
3406194 07/27/2006 12:41P Weld County, CO
7 of 14 R 0.00 D 0.00 Steve Moreno Clerk& Recorder
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(CDOT) Schedule for minimum materials sampling,
testing and inspections found in CDOT 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
if the fire hydrants are operational and state the results of fire flow tests.
9.6 The requirements in Sections 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 acceptance of the streets for partial maintenance by the County,
the applicant(s)may request release of the collateral for the project or 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 acceptance by the
Board of County Commissioners for full maintenance under Section 5.3 herein.
10.0 Public Sites and Open Spaces: When the Board of County 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 the
following alternatives, or as specified in the Planned Unit Development plan, if any:
10.1 The required acreage, as may be determined by relevant Sections of the Weld
County Code, 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.
11111111111111111 1111 1111111 11111 111111 III 111111111 1111 F 14
3406194 07/27/2006 12:41P Weld County, CO
8 of 14 R 0.00 D 0.00 Steve Moreno Clerk& Recorder
•
10.2 The required acreage,as determined by relevant Sections 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 by relevant Sections of the Weld 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.
IN WITNESS WHEREOF,the parties hereto have caused this Agreement to be executed on the day
and year first above written.
APPLICANT: Cam - , ,S..0 G<-oc
APPLICANT: [J 1-- 1k /1r4
TITLE: #011&/1 a er
1 ;
1 0
ra
Subscribed and sworn to before me this ?day of__3W,, , 204.
My Commission expires: F4 t 4 ' I '\
Notary Public
Sig-S J1)
DEBBIE POOL
NOTARY PUBLIC
STATE OF COLORADO
My Commia=Hn r.,airp 03/25/2010
1111111 11111 IVO IIII 1111111 IIIII 111111 III IIIII IIII IIII 3f 14
3406194 07/27/2006 12:41P Weld County, CO —
9 of 14 R 0.00 D 0.00 Steve Moreno Clerk& Recorder
ATTEST: BOARD OF COUNTY COMMISSIONERS
( t\WELD COUNT , COLORADO
1861 c"tr /dr,
Weld County Clerk to the Board f r. . Geile , Chair JUL 1 2 2006
r
•of
BY: �J • ��
Deputy Board
APPROVED AS TO FO
County Attorney
HID 11111111111111111111111111111111 III HUM IIII
3406194 07/27/2006 12:41P Weld County, CO
10 of 14 R 0.00 D 0.00 Steve Moreno Clerk & Recorder
Page 10 of 14
coo --/d'7,3
•
EXHIBIT "A"
Name of Subdivision
or Planned Unit Development: Sierra Acres P.U.D.
Filing:
Location: SW corner of the intersection of Weld County Road 27 and State Highway 392
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
Costs Construction Cost
Site grading 10,736 CY 5.46 $58,618.56
Street grading(SEE SITE GRADING) -
Street base (INCL. SHOULDERS) 2514 TN 14.23 35,774.22 Noise
Street paving 6656 SY 12.83 85,396.48
Curbs, gutters, and culverts
Sidewalk (Emer. Access Rd; base& 3"top crse) 783 TN 14.54 11,384.82
r- i Storm sewer facilities
Detention ponds (SEE SITE GRADING)
Ditch Improvements (Roadside;see site grad)
—005 Subsurface drainage
c d Sanitary sewers
-o
o Trunk and forced lines
dMains
9 `o Laterals(house connected)
On-site sewage facilities
NE a'i On-site water supply and storage
_
N Water Mains(includes bore)(6"&8"PVC) 2865 LF 27.92 79,990.80
r o Fire hydrants 3 EA 2243.00 6,729.00
o Survey and street monuments and boxes
mumo c, Street lighting
=w= Street Names
=-moo
immEn Fencing requirements
Landscaping(Erosion Control Measures) LS 3,690.00
cet
rn— Park improvements
c- o Road culvert(15"RCP& 18" w/FES&riprap) 141 LF 88.42 12,467.22
urass lined swale (2'CONC. V-PAN) 650 LF 12.09 7,858.50
Telephone
Gas
Electric
Water transfer
SUB-TOTAL:
Engineering and Supervision Costs $_8.(1(10
(Testing, inspection, as-built plans and work in addition to preliminary and final plat; supervision of actual
construction by contractors)
TOTAL ESTIMATED COST OF IMPROVEMENTS AND SUPERVISION $ 309.910
The above improvements shall be constructed in accordance with all County requirements and specifications,
and conformance with this provision shall be determined solely by Weld County,or its duly authorized agent.
Page 11 of 14
Said improvements shall be completed according to the construction schedule set out in Exhibit"B."
By: Cle42.1tLgct¢
Applicant /
25
A licant
/� r4. /�� Date: 779/D O , 20 04
Title /
(If corporation, to be signed by President and attested to by Secretary, together with corporate seal.)
1 111111 11111 11111 II11 1111111 11111 111111 111 111111 111 1111
3406194 07/27/2006 12:41P Weld County, CO
12 of 14 R 0.00 D 0.00 Steve Moreno Clerk& Recorder
Page 12 of 14
EXHIBIT"B"
Name of Subdivision
or Planned Unit Development: Sierra Acres P.UD.
Filing:
Location: SW corner of the intersection of Weld County Road 27 and State Highway 392
All improvements shall be completed within one (1) year(s) 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 Spring, 2007
Street grading Spring, 2007
Street base Spring, 2007
Street paving Spring, 2007
Curbs, gutters, and culvert
Sidewalk
Storm sewer facilities
Detention ponds Spring, 2007
Ditch improvements Spring, 2007
Subsurface drainage
Sanitary sewers
Trunk and forced lines
Mains
Laterals(house connected)
On-site sewage facilities
On-site water supply and storage
Water mains Spring, 2007
Fire hydrants Spring, 2007
Survey and street monuments and boxes
Street lighting
Street name signs Spring, 2007
Fencing requirements
Landscaping(Erosion Control Measures) Spring, 2007
Park improvements
Road culverts Spring, 2007
Grass lined swale Spring,2007
Telephone Spring, 2007
Gas Spring, 2007
Electric Spring, 2007
Water transfer Spring, 2007
SUB-TOTAL:
111111111111111111101111111111111111111111111111111111
3406194 07/27/2006 12:41P Weld County, CO
13 of 14 R 0.00 D 0.00 Steve Moreno Clerk& Recorder
Page 13 of 14
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: C�
Applicant
plicant
� Date: 4( 9 , 20 O 6 .
Title
(If corporation, to be signed by President and attested to by Secretary, together with corporate seal.)
IN Hit II%VIII 14111 till IIIIII III DIN III
3406194 07/27/2006 12:41P Weld County.,
14 of 14 R 0.00 D 0.00 Steve Moreno Cl
14 of Clerk:I& Recorder
Page 14 of 14
....., ,... ... .�...
e
-Z cc. .
0 Union Colony Bank
Post Office Box 961
Greeley,CO 80632
970-346-5050
866-241-2673
IRREVOCABLE STANDBY LETTER OF CREDIT
NAME: Weld County DATE: July 7, 2006
(Hereinafter called"Beneficiary") NUMBER: 670
AMOUNT: $85,400.00
EXPIRES: July 7, 2007
Gentlemen:
Please be advised that Union Colony Bank, A State Chartered Bank (hereinafter called the
"Issuer"), establishes an Irrevocable Letter of Credit No. 670 in favor of the Beneficiary for the
account of Bravo Interests, LLLP (hereinafter called "Customer") up the aggregate sum of
Eighty-Five Thousand Four Hundred and No/100 ($85,400.00) available by Beneficiary's drafts
at sight drawn on Issuer.
All drafts drawn under this Letter of Credit must bear the clause:
"Drawn under Union Colony Bank Letter of Credit No. 670 dated July 7, 2006".
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 July 7, 2007;
2. Not be transferable;
Page 1 of 2
QMember
LENDER FDIC
3. Be governed by the laws of the State of Colorado, including Article Five of the
Uniform Commercial Code; and
4. Be subject to the Uniform Customs and Practice for Documentary Credits;
International Chamber of Commerce Publication Number 500.
5. This letter of credit is issued to subject to Section XII of Franchise Agreement.
6. 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
Improvement 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.
7. 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.
This Letter of Credit will be automatically renewed for a one year period upon the expiration date
set forth above and upon each anniversary of such date, unless at least sixty (60) days prior to
such expiration date, or prior to any anniversary of such date, we notify both you and your client
in writing by registered mail that we elect not to so renew this Letter of Credit.
Upon receipt by you of our notice of election not to renew this Letter of Credit, you may draw
hereunder by your sight draft drawn on us and bearing the clause "Drawn under Credit No. 670".
Sincerely,
Mike Nichols
Executive Vice President
MN:ko
PLEASE RETURN UPON EXPIRATION
Page 2 of 2
41 MEMORANDUM
Wi`Pe. To: Board of County Commissioners
COLORADO Date: July 7, 2006
From: Kim Ogle, Planning Manager
Subject: Acceptance of Irrevocable Standby Letter of Credit# 670
Union Colony Bank
Case number PF-1089
MBM Enterprises, Applicant
Bravo Interests, LLLP, Applicant
The Department of Planning Services received an Irrevocable Standby Letter of Credit#670
from the Union Colony Bank, Greeley, Colorado office, for Sierra Acres PUD, case number PF-
1089 in the amount of eighty-five thousand four hundred (85,400.00) dollars and no/100s.
Items covered under this Irrevocable Standby Letter of Credit include:
Street Paving Spring 2006 $ 85,396.48
Sub-Total: $ 85,396.48
Total Estimated Cost of Improvements $ 85,396.48
The applicant has indicated that all other improvements associated with Exhibit A of the Public
Road Maintenance Improvements Agreement have been completed.
The Weld County Attorney, the Department of Public Works and the Department of Planning
Services, have determined that the amount of the agreement will be sufficient to complete the
work required for Sierra Acres PUD, and the Department of Planning Services recommends
acceptance of this Irrevocable Standby Letter of Credit.
SERVICE.TEAMWORK INTEGRITY,QUALITY
2006-1873
Page 1 of 1
Kim Ogle
From: Peter Schei
Sent: Wednesday, June 21, 2006 9:55 AM
To: Kim Ogle
Cc: Perry Eisenach; Drew Scheltinga; Pam Smith
Subject: RE: Final Plat ... PF-1089 Sierra Acres PUD
Importance: High
Good Morning, Kim:
Per Public Works' memorandum dated, 23-May-2006,the Department has signed-off on PF 1089 Sierra Acres
PUD with no concerns.
Thank you for checking with our Department.
Have a great day, Peter.
Peter SCHEL P.E.,N.S.P.E.
Weld County-Public Works Department
1111 -H Street,Greeley,CO 80632
970.356.4000 x3750
pschei(n'�,co.weld.co.us
"Welcome Home - to Weld County"
From: Kim Ogle
Sent: Wednesday, June 21, 2006 9:31 AM
To: Perry Eisenach; Peter Schei; Drew Scheltinga; Pam Smith
Cc: Kim Ogle
Subject: Final Plats
Planning Services is in receipt of two final plats currently under review. Question?
Are the applicants associated with PF-1032, Coyote Run PUD [Nolan Ulmer] completed all of the conditions as
outlined in your memorandums?
Second case is PF-1089, Sierra Acres PUD [MBM Enterprises], again, have the conditions as outlined in your
memorandums been completed.
Markham PUD has their Letter of Credit in for processing. Does Public Works have a Memorandum stipulating
that the amount of the monies presented meets the financial obligation for the on-site improvements?
Thanks for your timely response. Both applicant's are raring to go. Kim
07/06/2006
oBERTS
ovation
CORPORATION
July 6, 2006
To Whom It May Concern:
Bravo Enterprises LLP & JR McEntee are current and in good standing with us on our
invoices that we have submitted to them for the Sierra Acres Project. If there are any
other questions please call me, I will enclose my card.
Thank you,
Tim Hunt
Controller
475 Basher Drive,Berthoud,CO 80513
Office(970)532-1440 Fax(970)532-1442 digit@robertsexcavation.com
0 Union Colony Bank tjc
Post Office Box 961
Greeley,CO 80632
970-346-5050
866-241-2673
IRREVOCABLE LETTER OF CREDIT NO. 670 AMENDMENT
July 7, 2007
Weld County
(Hereinafter called "Beneficiary")
Gentlemen:
At the request of and for the account of our client, Bravo Interests, LLLP, Union Colony
Bank establishes one amendment to its Commercial Irrevocable Letter of Credit No. 670
in your favor. All of the terms and conditions of our Commercial Irrevocable Letter of
Credit remain the same with the following exception:
1. Union Colony Bank Commercial Irrevocable Letter of Credit No. 670 in the
amount of$85,400 is amended to be extended to become due July 7,2008.
I hereby certify that all other terms and conditions of Union Colony Bank Commercial
Irrevocable Letter of Credit No. 670 remain unmodified.
Sincerely,
i
GMike Nic ols
Executive Vice President
MN:slw
LENDER FDIC
Hello