HomeMy WebLinkAbout20062396 RESOLUTION
RE: APPROVE IMPROVEMENTS AGREEMENT ACCORDING TO POLICY REGARDING
COLLATERAL FOR IMPROVEMENTS (PUBLIC ROAD MAINTENANCE) AND AN
AGREEMENT FOR IMPROVEMENTS FOR WELD COUNTY ROAD 3, AUTHORIZE
CHAIR TO SIGN, AND ACCEPT COLLATERAL FOR HIGHVIEW RANCH PLANNED
UNIT DEVELOPMENT FINAL PLAN, PF #1074 - FRANK AND LORETTA WRIGHT
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 November 23, 2005, the Board of County Commissioners approved the
request of Frank and Loretta Wright, 22 Seven Hills Drive, Boulder,Colorado 80302,for Change of
Zone, PZ#1074,from the A(Agricultural)Zone District to a PUD(Planned Unit Development)Zone
District, for nine (9) lots with E (Estate) Zone uses, and
WHEREAS,on June 9,2006,the Department of Planning Services staff approved a Planned
Unit Development Final Plan, PF#1074,for Frank and Loretta Wright,22 Seven Hills Drive, Boulder,
Colorado 80302, for nine (9) lots with E (Estate) Zone uses (Highview Ranch), on the following
described real estate, to-wit:
Lot B of Amended Recorded Exemption#3381; being
part of the S1/2NW1/4 of Section 5, Township 1
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 (Public
Road Maintenance) and an Agreement for Improvements for Weld County Road 3, between the
County of Weld, State of Colorado, by and through the Board of County Commissioners of Weld
County,and Frank and Loretta Wright,with terms and conditions being as stated in said agreement,
and
WHEREAS,the Board has been presented with Irrevocable Letter of Credit No. 100429586
from Peak National Bank, 770 Heritage Road, Second Floor, Golden, Colorado, 80401, in the
amount of$400,000.00, and
WHEREAS,after review, the Board deems it advisable to approve said agreements and
accept said Irrevocable 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 AgreementAccording to Policy Regarding Collateral for
2006-2396
p PL1798
(•'!+; /27/eel, Afn//Err ,G) 09"-aze-O�
IMPROVEMENTS AGREEMENTS - FRANK AND LORETTA WRIGHT
PAGE 2
Improvements(Public Road Maintenance),and the Agreement for Improvements for Weld County
Road 3, between the County of Weld, State of Colorado, by and through the Board of County
Commissioners of Weld County, and Frank and Loretta Wright, be, and hereby is, approved.
BE IT FURTHER RESOLVED that Irrevocable Letter of Credit No. 100429586 from Peak
National Bank, 770 Heritage Road, Second Floor, Golden, Colorado 80401, in the amount of
$400,000.00, be and hereby is, accepted.
The above and foregoing Resolution was,on motion duly made and seconded,adopted by
the following vote on the 30th day of August, A.D., 2006.
',.f BOARD OFCOUNTY COMMISSIONERS
- gig
LD CO TY, COLORADO
` '
ATTEST: 1�lEy , 2/.l�i
'1 'i ile, Chair
Weld County Clerk to the Bo e C
CU
a t Y vid E. Long, Pro-Tem
BY: dt4 4 --r-'
Depu Jerk to e Board V`,-,Y
Willi m H. Jerke
APP / DASTO M: 4. Vv D____
Robert D. Mas en
unty Attorney EXCUSED
I Glenn Vaad
Date of signature: 11
2006-2396
PL1798
495IMPROVEMENTS AGREEMENT ACCORDING TO
POLICY REGARDING COLLATERAL FOR IMPROVEMENTS
(PUBLIC ROAD MAINTENANCE)
THIS AGREEMENT,made and entered into this 28th day of March ,20 06 ,by and
between the County of Weld, State of Colorado, acting through its Board of County Commissioners,
hereinafter called"County,@ and Frank Wright , manager ,hereinafter called"Applicant.@
HIGiVIEW DEVELOPMENT, LLC
WITNESSETH:
WHEREAS, Applicant is the owner of, or has a controlling interest in the following described
property in the County of Weld,Colorado:
Lot B AMRr-3381 S !/2, N1/4, 55—T1—N68W
WHEREAS,a final Subdivision/Planned Unit Development(PUD)Plat of said property,to be known
as Hi ghvi ew Ranch 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
AA@ and AB@ 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:
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a 2 1.0 Engineering Services: Applicant shall furnish,at its own expense,all engineering services in
c ro connection with the design and construction of the Subdivision or Planned Unit Development
V s improvements listed on Exhibit AA,@ which is attached hereto and incorporated herein by
reference.
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a d 1.1 The required engineering services shall be performed by a Professional Engineer and
g Land Surveyor registered in the State of Colorado,and shall conform to the standards
d and criteria established by the County for public improvements.
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0 1.2 The required engineering services shall consist of, but not be limited to, surveys,
c designs,plans and profiles,estimates,construction supervision,and the submission
mmi c c of necessary documents to the County.
N c 1.3 Applicant shall furnish drawings and cost estimates for roads within the Subdivision
-a,cc or Planned Unit Development to the County for approval prior to the letting of any
in r construction contract. Before acceptance of the roads within the Subdivision or
�"Cr Planned Unit Development by the County, Applicant shall furnish one set of
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C:\DOCUMENTS AND SETTINGS\PStHEI\DESKTOP\PUBLIC IMPROVEMENTS A, 2006-2396
reproducible "as-built" drawings and a fmal statement of construction cost to the
County.
2.0 Rights-of-way and Easements: Before commencing the construction of any improvements
herein agreed upon,Applicant shall acquire,at its own expense,good and sufficient rights-of-
way and easements on all lands and facilities traversed by the proposed improvements. 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 AA,@ which is attached hereto
and incorporated herein by reference,according to the construction schedule set out in Exhibit
AB®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
ac specifications shall be removed and replaced to the satisfaction of the County at
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Y Applicant's expense.
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— o 3.4 Applicant shall furnish proof that proper arrangements have been made for the
sa d installation of sanitary sewer or septic systems, water, gas, electric and telephone
services.
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a.ti 3.5 Said Subdivision or Planned Unit Development improvements shall be completed,
6.5according to the terms of this Agreement,within the construction schedule appearing
_c c in Exhibit AB.® The Board of County Commissioners, at its option,may grant an
o extension of the time of completion shown on Exhibit AB@ upon application by the
c Applicant subject to the terms of Section 6 herein.
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4.0 Release of Liability: Applicant shall indemnify and hold harmless the County from any and
so up et
all liability loss and damage County may suffer as a result of all suits, actions or claims of
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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
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
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Commissioners.
mumc A time period for completion of the off-site improvements.
V s - The terms of reimbursement.
The current address of the person to be reimbursed during the term of the
e 0 agreement.
arma ` Any off site improvements agreement shall be made in conformance with the
Weld County policy on collateral for improvements.
o€71) 5.3 If the subdivider, applicant, or owner fails to comply with the improvements
o agreement,the opportunity to obtain reimbursement under this section is forfeited.
9
a o 0 5.4 When it is determined by the Board of County Commissioners that vehicular traffic
MIMI 0'1 o from a Subdivision, Resubdivision, or Planned Unit Development will use a road
N o improvement constructed under an improvements agreement, the subsequent
o ac subdivider,applicant,or owner shall reimburse the original subdivider,applicant,or
MEM m_Q owner,for a portion of the original construction cost. hi no event shall the original
r._ subdivider, applicant, or owner collect an amount which exceeds the total cost of
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CADOCUMENTS AND SETTINGS\PStHErDESKTOPIPUBLIC IMPROVEMENTS AGREEMENT.DOC
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 Department of Planning Services prior to recording the Subdivision,
Resubdivision, or Planned Unit Development Final Plat.
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 maybe 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 TRIP 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.
v 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
cc the County, is ten years from the date of execution of a contract for road
v Y improvements.
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- 0 0 5.8 This provision is not intended to create any cause of action against Weld County or
9 d its officers or employees by any subdivider,applicant,or owner for reimbursement,
g 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.
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- c 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
o c be accepted by the County as a part of the County road system and will be maintained and
-o c repaired by the County.
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o 6.1 If desired by the County,portions of street improvements may be placed in service
,r,"Kt when completed according to the schedule shown on Exhibit AB,@ but such use and
operation shall not constitute an acceptance of said portions.
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"sr 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 AB,@ and may continue to issue building permits so long as the progress of
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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
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
rc approval provided the cost estimates are updated and the development plans are
Y revised to comply with all current County standards,policies and regulations. The
—6 U improvements shall be completed within one(1)year after the Final Plat approval
(not one year after acceptable collateral is submitted) unless the applicant(s)
o requests that this Agreement be renewed at least thirty (30) days prior to its
expiration andJurther provides that cost estimates for the remaining improvements
are updated and collateral is provided in the amount of One-Hundred percent
—a , (100%) of the value of the improvements remaining to be completed. If
ti improvements are not completed and the agreement not renewed within these time
—
o frames, the County, at its discretion, may make demand on all or a portion of the
o c collateral and take steps to see that the improvements are made.
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-N o 7.2 The applicant may choose to provide for a phased development by means of
o 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
—v each filing as approved. The County will place restrictions on those portions of the
Mproperty 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
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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 AA@ and AB.@ The
costs of the improvements described in Exhibit AA@ will be adjusted higher or lower
for the year and quarter in which the contemplated work is being performed based on
AThe State Highway Bid Price Index@ contained in the AQuarterly Cost Report@ of
The 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 hup,ovements 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 AA@ and AB.@
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.
ram. 86 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
- ac One-Hundred percent (100%) of the estimated costs of completing the
(-IY uncompleted portions of the required imp_ovements,based on inspections of
c U the development by the issuer. In no case shall disbursement for a general
o S improvement item exceed the cost estimate in the Improvements Agreement
ram.0 a o (i.e., streets, sewers, water mains and landscaping, etc.). The issuer of the
`1 Letter of Credit will sign the Improvements Agreement acknowledging the
_� ' agreement and its cost estimates.
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8.1.5 The Letter of Credit shall specify that fifteen percent (15%) of the total
o Letter of Credit amount cannot be drawn upon and will remain available to
cWeld County until released by Weld County.
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-N c 8.1.6 The Letter of Credit shall specify that the date of proposed expiration of the
c Letter of Credit shall be either the date of release by Weld County of the
�,r,get fifteen percent(15%),or one year from the date of Final Plat approval,
r4- whichever occurs first. Said letter shall stipulate that, in any event, the
a v 0 Letter of Credit shall remain in full force and effect until after the Board has
—"`o received sixty(60)days written notice from the issuer of the Letter of Credit
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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:
P 8.3.1 The cash in escrow is at least equal to One-Hundred percent(100%)of the
amount specified in the Improvements Agreement.
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v 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
c c will not release any portion of such funds without prior approval of the Weld
County Board of Commissioners.
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— ' 8.3.3 The escrow agent will be a Federal or state-licensed bank or financial
=Momd r' institution.
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0 0 8.3.4 If Weld County determines there is a default of the Improvements
o Agreement,the escrow agent,upon request by the County,shall release any
N o remaining escrowed funds to the County.
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o 8.4 A surety bond given by a corporate surety authorized to do business in the State of
am=u,a Colorado in an amount equivalent to One-Hundred percent(100%)of the value of
=v the improvements as specified in the Improvements Agreement.
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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:
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,
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the applicant(s)may request release of the collateral for the project or portion of the
c°C project by the Board. This action will be taken at a regularly scheduled public
meeting of the Board.
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a o 9.8 The request for release of collateral shall be accompanied by"Warranty Collateral"in
mai g the amount of fifteen percent(15%)of the value of the improvements as shown in
g this Agreement excluding improvements fully accepted for maintenance by the
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as responsible governmental entity, special district or utility company.
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0 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.
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w c 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
Nam
o ac and/or reservation of areas or sites other than Subdivision or Planned Unit Development
insoU,
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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.
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. 11 n
APPLICANT: I }��k Live.) O.e,,rcL e flran- LL c
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APPLICANT: n(vy\ (, )(1(i(
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3 Subscribed and sworn to before me this ?A day of
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arm. My Commission expires:
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CADOCUMENTS AND SETTINGS\PS'CHEI\DESKTOP\PUBLIC IMPROVEMENTS ACRE MENT.DOC
ATTEST: 'inr` BOARD OF COUNTY COMMISSIONERS
midpit ". I i % WELD COUNTY/COLORADO
♦ `► i ,I fWeld County Clerk to the Boar` ICI ciato-�` ` M. J. Geile ,Chair AUP 30 2006
r
BY: ' ,i1.iti 1( -4(17._�( \ I>
Dep I Clerk I the Board
J
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APPROVED AS TO FORM: Z')
---- -..County Attorney
1 111111 11111 11111 111111 1111 1111111 11111 III 111111 111 1111
3421495 09/21/2006 03:07P Weld County, CO
10 of 14 R 0.00 0 0.00 Steve Moreno Clerk & Recorder
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" 26
•
EXHIBIT AA@
Name of Subdivision Rinhvica Ranch MD
Planned Unit DsnthIo e�
Filing n-1074
Location: Highway 52 and 1/2 mile south on WCR 3
IntendngtobeIepIlYbamd, S hpp lndqagncto dtSubdivision
or Planned! nit Development the following improvements. (Leave spaces blink where they do not apply.)
Improvamsts 12HY )J Unit Feted
Stagy cangtaction Cost
Site grading 17,746 CY 3_20 56,787
Street adiog 10.019 CY 3.20 32.060
Strut base 94,321 SF .40 37,728
Skeet paving 68.081 SY . 1 .00 68,081
Curbs,gazes:,and advents 17R LF 10 00 1 ,780
Sidewalk
storm sewer Betties 4
Reteatioapont 7,260 a ev 3 40 23,232
Ditch Impravan em
Subsurface drainage
Sanitary semis - N
Truk and Sneed Imes
Mains
Laterals canoected) 4 Ly r 9 00 2 241
On-site sewage fats
On-site water supply at stooge
WaterMams(me`desbete) 2.904 LF 9.00 26,136
Piehydoals 2 EA 2,500 5,000
Survey and street mons ad bones
Sheet lighting -
Street Names 3 EA 1 DO 300
Fencing regaiements
Landscaping 4.9 AC 110 539
Park improvements
Road cohort 189 LF 10.0d 1 ,890
Grass lined swat
Telephone 9 RA 500_00 4,500
Gas 9 EA 3,600 32,400
Pbrrrir 1100 LF 20.00 22,000
Water ns S. 40% 49,236
SUB-Tt7TAL: 363,910
Engineering and SupervisionCest$36,000
(Testing,inspection,as-bmlt plans and vmdt in Station to pte>i .—y and final plat supervision of actual
construction by contactors)
TOTAL ESTIMATED COST CF IMPROVEMENTS AND SUPERVISION S.3 99,91 0
1 1111 11111 111111 Iltl 111111111111 111 111111 III 1111 11 Raked
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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.
Said improvements 1 shall be completed according to the construction schedule set out in Exhibit AB.@
By: H—(5LUi 2.,1 Cava o,P ..,c " Lt—
Applicant
/ LCvY\�W�I
Applicant (� /
Date: ni1 1 2' ,20 06 .
Title
(If corporation,to be signed by President and attested to by Secretary,together with corporate seal.)
1111111111111 1 1 11111111111111111111111 N11111111111
11111
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17 Revised 03/09/2004
EXHIBIT AB@
Name of Subdivision
or Planned Unit Development Highview Ranch PUD
Filing: PZ- 1074
Location: Highway 52 and Y2 mile south on WCR 3
All improvements shall be completed within one year from the date of approval of the final plat.
Construction of the improvements listed in Exhibit AA@ shall be completed as follows:
(Leave spaces blank where they do not apply.)
Improvements Date for Complettion
Site grading 8 days
Street grading 10 days
Street base 6 days
Street paving 10 days
Curbs,gutters,and culverts 3 days
Sidewalk
Storm sewer facilities
Retention ponds 8 days
Ditch improvements
Subsurface drainage
Sanitary sewers
Trunk and forced lines
Mains
Laterals(house connected)
On-site sewage facilities
On-site water supply and storage
Water mains 14 days
Fire hydrants 4 days
Survey and street monuments and boxes
Street lighting
Street name signs 2 days
Fencing requirements
Landscaping 5 days
Park improvements
Road culvert 5 days
Grass lined swale 4 days
Telephone 7 days
Gas 10 days
Electric 14 days
Water transfer 2 days
SUB-TOTAL: 112 days
1111111 11111 114 11 11111 111 III III IIII
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13 Revisal 03/09/2004
C:\DOOOMENTS AND SEITINGSIPSCUEN)ESKTOPPUBLIC IMPROVEMENTS AGREEMENT.DOC
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: H I Sl V t tobat in4-c ,�MartiL t_C
Applicant �V
Applicant Y `� Date:' ,/�\l:PuIN ,20 O(O.
Title
(If corporation,to be signed by President and attested to by Secretary,together with corporate seal.)
AID VIII VIII 111111 IIII 1111111 VIII III 111111 III IIII
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1 11 Revised 03/09/2004
496
AGREEMENT FOR IMPROVEMENTS FOR WCR 3
THIS AGREEMENT is made and entered into this 5th day of May, 2006 by
and between Highview Development, LLC, Frank Wright (Manager), developer of
Highview Ranch PF- 1074 , hereinafter referred to as"Developer", with an address
of 22 Seven Hills Dr. Boulder, CO 80302 , Weld County Colorado, and the
County of Weld, State of Colorado, by and through the Board of County
Commissioners of Weld County, Colorado, hereinafter referred to as "County",
with offices located at 915 10th Street, Greeley, Colorado 80631.
WITNESSETH:
WHEREAS, the Developer has obtained approval for a Site Specific
Development Plan and Subdivision Final Plat for Nine lots for the Highview Ranch
hereinafter referred to as the "Development", and
WHEREAS, WCR 3 from Highway 52 to WCR 12, hereinafter referred to as
"the Road", will need paving, in part, due to the increased traffic generated by the
Development, a distance of approximately one mile, and
WHEREAS, WCR 3 abuts a portion of Highview Ranch and the lots will
need WCR 3 for access to the Development, and
WHEREAS, the average daily trips anticipated from Highview Ranch, will
constitute 35 percent of the traffic on the Road, and
WHEREAS, the proportional costs of paving the Road attributable to the
traffic generated by the lots in the Development using the Road, is estimated to be
$6,000 per lot.
NOW, THEREFORE, in consideration of the mutual promises and covenants
contained herein, the parties hereto agree as follow:
1. TERM
A. The term of this Agreement shall be from the date first written
above to the completion of paving the Road and final
accounting by County and payment of all land development
charges by the Developer for the Nine lots accessing the Road,
or five years if WCR 3 is not paved.
IIIIII VIII VIII IIIIII IIII IIIIIII VIII III VIII IIII IIII
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1
accC..--,. .6l 32/,
2. OBLIGATIONS OF THE COUNTY
A. Weld County plans to pave, within five years of the date first
written above, the Road at a current estimated cost of
$300,000. The paving improvements are anticipated to be for
12 foot travel lanes with 4 foot shoulders designed in
accordance with generally accepted engineering practices but
the actual design shall be at the discretion of Weld County
B. Design, construction, and maintenance of this portion of Road
shall be the responsibility by the County.
C. County must pave the roads within five years of the date first
written above or forfeit all rights to land development charges,
which are the obligation of the Developer whether already in
escrow or remaining to be paid.
D. Weld County shall perform a final accounting once paving is
complete and may collect from the escrow account (or from the
developer if the amount in the escrow is insufficient to satisfy
developers obligation) up to 20 percent of the total cost of
paving WCR 3. If additional traffic is generated prior to paving
WCR 3, such that the percentage of traffic generated by the
development is less than 20 percent, the County shall adjust
the percentage charged to the developer proportionately. Any
amount which must be collected from the developer which is
not paid within 45 days of final accounting shall assessed
interest in the amount of 8 percent per annum.
3. OBLIGATION OF THE DEVELOPER
A. Developer agrees to pay the amount of $6,000 per each lot
accessing the Road. The actual amount to be determined in
accordance with paragraph 2.D.
B. The Developer agrees to escrow monies as follows At the sale of
the first lot $6,000, at the sale of the second lot $6,000, at the
sale of the third lot $6,000, at the sale of the fourth lot$6,000,
at the sale of the fifth lot $6,000, at the sale of the sixth lot
$6,000, at the sale of the seventh lot $6,000, an the sale of the
eighth lot $6,000, at the sale of the ninth lot $6,000. The
escrow account shall be set up according to paragraph 4
herein.
C. The Developer shall not be released from this obligation unless
111111111111 IIIII 111111 IIII 111111111111 III 11111 IIII IIII 2
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County does not pave the road within the time frame set forth
in paragraph 2.C. herein. In no event shall Developers
obligation under this Agreement exceed $54,000 subject to
adjustment to a higher or lower figure from the first quarter of
2002 to the year and quarter in which the contemplated work
is being performed based on The State Highway Bid Price index
contained in the "A Quarterly Cost report" of The Engineering
News-Record as published by The McGraw-Hill Companies.
4. ESCROW AGREEMENT , the terms of which will be subject to review
by the County, that provides at least the following:
A. The cash in escrow when fully funded is $54,000.
B. The escrow agent guarantees that the escrowed funds will be
disbursed according to the terms of this agreement and will not
release any portion of the funds without prior written approval
of the Weld County Board of County Commissioners.
5. SEVERABILITY
If any term or condition of this Agreement shall be held to be invalid,
illegal, or unenforceable, this Agreement shall be construed and
enforced without such provision to the extent that this Agreement is
then capable of execution within the original intent of the parties
hereto.
6. NO THIRD PARTY BENEFICIARY ENFORCEMENT.
It is expressly understood and agreed that the enforcement of the
terms and conditions of this Agreement, and all rights of action
orelating to such enforcement, shall be strictly reserved to the
undersigned parties and nothing in this Agreement shalt give or allow
cc
ae any claim or right of action whatsoever by any other person not
= C N
included in this Agreement. It is the express intention of the
cundersigned parties receiving services of benefits under this
Agreement shall be an incidental beneficiary only.
cg 7. MODIFICATION AND BREACH
r d
oN
ii
__OC This Agreement contains the entire agreement and understanding
o- o between the parties to this Agreement and supersedes any other
agreements concerning the subject matter of this transaction,
- o whether oral or written. No modification, amendment, notation,
��
cn
x renewal, or other alteration of or to this Agreement shall be deemed
-Cr).4.
3
"
_-MM
valid or of any force or effect whatsoever, unless mutually agreed
upon in writing by the undersigned parties. No Breach of any term,
provisions, or clause of this Agreement shall be deemed waived or
excused, unless such waiver or consent shall be in writing and signed
by the party claimed to have waived or consented. Any consent by
any party hereto, or waiver of, a breach by any other party, whether
express or implied, shall not constitute a consent to waiver of, or
excuse for any other different or subsequent breach.
8. NO WARRANTY.
Neither County nor Developer, by virtue of their entering into this
Agreement and upon their promises to perform the work described
herein, make warranties, either express or implied, that the
improvement work and/or maintenance of these roads meet
standards other than those generally required for counties and cities
of the size and type similar to County.
9. BINDING
This agreement shall be binding on the heirs, successors, and assigns
of the parties.
IN WITNESS WHEREOF the parties hereto have signed this Agreement this 1/S day
of 2O OG.
By: 41'4(huiew V2..��o c mark LLC r�1 x (_ i kdl' - (rn wncet)
De loper 6
ATTEST: Mid EL BOARD OF COUNTY COMMISSIONERS
ccji WELD COU Y, COLORADO
Weld County Clerk to the .1\�;432 T 9
BY: T� hair, M. J. Geile AUG 3 0 2006
De y Cle to the Boar -Q7-1n
L-
APP D AS 111111111111111111111111111111111111M1111 11111 IIII IIII
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C my Attorney
4
Jae,..232E
44 MEMORANDUM
V Iwise
To: Board of County Commissioners
COLORADODate: August 28, 2006
From: Kim Ogle, Planning Manager
Subject: Acceptance of Irrevocable Letter of Credit# 100429586
Peak National Bank
for Highview Ranch PUD
Case number PF-1074
Frank Wright, Applicant
The Department of Planning Services received an Irrevocable Letter of Credit# 100429586
from the for Highview Ranch PUD, case number PF-1074 in the amount of four hundred
thousand (400,000.00) dollars and no/100s.
Items covered under this Escrow Agreement include:
Site Grading Autumn 2006 $ 56,787.00
Street Grading Autumn 2005 $ 32,060.00
Street Base Autumn 2006 $ 37,728.00
Street Paving Autumn 2006 $ 68,081.00
Curb, Gutter and Sidewalk Autumn 2006 $ 1,780.00
Retention Ponds Autumn 2006 $ 23,232.00
Laterals (House Connected) Autumn 2006 $ 2,241.00
Water Mains (includes bore) Autumn 2006 $ 26,136.00
Fire Hydrants Autumn 2006 $ 5,000.00
Street Names Autumn 2006 $ 300.00
Landscaping Autumn 2006 $ 539.00
Road Culvert Autumn 2005 $ 1,890.00
Site Utilities: Telephone Autumn 2006 $ 4,500.00
Site Utilities: Gas Autumn 2006 $ 32,400.00
Site Utilities: Electric Autumn 2006 $ 22,000.00
Site Utilities: Water Transfer Autumn 2006 $ 49,236.00
Sub-Total: $ 363,910.00
Engineering and Supervision $ 36,000.00
Total Estimated Cost of Improvements and Supervision $ 399,910.00
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 Highview Ranch PUD, and the Department of Planning Services recommends
acceptance of this Irrevocable Letter of Credit.
M:\ogle\kim\collateral\PF 1074.wpd
/02. /291
SERVICE,TEAMWORK,INTEGRITY,QUALITY
Itt toe MEMORANDUM
W� ' TO: Kim Ogle,Planning Manager DATE: 19-June-2006
�• FROM: Jesse Hein, Public Works Department
COLORADO SUBJECT: PF-1074 Frank Wright(Final Plat) sign-off
Weld County Public Works Department has reviewed these final plan materials and has the following development
referral comments.
Comments
❑ The Final Drainage Report for Highview Ranch PUD, dated March 8, 2006, sealed by Christopher G. Huffer, P.E.
(Colorado P.E. #36249) with Ehrhart, Griffin and Associates is acceptable to Public Works.
o The department will keep the sealed report in the case file for use during construction phase.
❑ Public Works has accepted three (3) additional sets of stamped, signed and dated (June 15, 2006) Highview Ranch-
Plans for construction, by Christopher G. Huffer,P.E. with Ehrhart, Griffin and Associates.
o Plan drawings will be used by Weld County Field Inspectors during construction of the subdivision.
o The applicant has resubmitted an on-site Improvements Agreement According to Policy Regarding Collateral for
Improvements, which has been reviewed and accepted by Public Works.
o This agreement must be approved by the Board of County Commissioners (BOCC)prior to recording the
final plat.
Recommendation
❑ The Public Works Department, `signs-off' on this development with no recognized issues.
r
PF-1074 Frank Wright(Final Plat)sign-off
Email&Original: Manner:Kim Ogle
PC by Post: Applicant:Frank Wright
PC by Post. Engineer:Ehrhart,Griffin and Associates
ter .
c;
_Peaka—
National Bank
IRREVOCABLE LETTER OF CREDIT
TO: The Board of County Commissioners NO: 100429586
of the County of Weld DATE:July 19,2006
Attn: Clerk to the Board EXPIRY: April 19, 2007
P.O. Box 758 AMOUNT: $400,000.00
Greeley,CO 80632
Re: Highview Development, LLC, a Colorado limited liability company;Developing Highview Ranch
To Whom It May Concern:
We hereby open our Irrevocable Letter of Credit in your favor for the account of Highview Development, LLC, a
Colorado limited liability company, whose address is 22 Seven Hills Drive, Boulder, CO 80302, for a sum not to exceed
the aggregate of Four Hundred Thousand and No/100 dollars($400,000.00).
Each draft so drawn under this credit are to be endorsed hereon and shall bear the clause DRAWN UNDER PEAK
NATIONAL BANK, 26 South Highway 119,Nederland, CO 80466-Letter of Credit No. 100429586 dated June 19, 2006
and be accompanied by a"signed statement from the Board of County Commissioners of Weld County, Colorado stating
the Developer has committed a material breach of the Improvements Agreement According to Policy Regarding collateral
for Improvements regarding See Exhibit A attached hereto and made a part hereof dated the 28th day of March 2006 by
and between Highview Development, LLC, a Colorado limited liability company and the Board of County
Commissioners of the County of Weld."
This credit is subject, so far as applicable, to "The Uniform Customs and Practice for Documentary Credits, 1993
Revision,The International Chamber of Commerce Publication No. 500."
We hereby agree with you that all drafts drawn under and in compliance with the terms of this credit will be duly honored
and presented for payment to our office,PEAK NATIONAL BANK,26 South Highway 119,Nederland, CO 80466. This
Letter of Credit shall expire at 5:00 p.m.on April 19, 2007.
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 PEAK NATIONAL 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 PEAK NATIONAL 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 PEAK NATIONAL BANK the Letter of Credit No. 100429586 will not be renewed and that we Highview
Development, LLC has failed to provide proof of adequate collateral and substitution of this Letter of Credit No.
100429586; (c) copy of letter from PEAK NATIONAL BANK stating non-renewal of Letter of Credit No. 100429586
and the original letter of credit.
Yours very truly,
PE IONAL BANK
sy: K/ ,uA
Rod ey K. Tu er,Branch President
770 Heritage Road, Second Floor • Golden, CO 80401 • (303) 216-9530 • FAX (303) 271-0695
Clear Day Page 1 of 1
Donna Bechler
From: Kim Ogle
Sent: Monday, August 28, 2006 2:27 PM
To: Donna Bechler
Subject: RE: Improvements Agreement for Highview Ranch PUD
Attachments: Kim Ogle.vcf
Donna
In response to first question, staff comments were approved on June 9, 2006
In response to second question, contact Peter Schei at PW x 3749. Thanks, Kim
Kim Ogle
From: Donna Bechler
Sent: Monday, August 28, 2006 12:59 PM
To: Kim Ogle
Subject: Improvements Agreement for Highview Ranch PUD
Hi Kim,
I'm working on the collateral for Highview Ranch for Wednesday's agenda, but I don't have the paperwork listing
the date Planning Staff approved the Final Plan. Could you please send that to me. I also have a question
regarding the Agreement for Improvements for WCR 3. The Agreement states " WCR 3 from Highway 52 to
WCR 3," needs paving. Should the 2nd "WCR 3" be a different road number?
Thanks,
Donna
8/28/2006
fi 4
PLCA Kcfifce ExM i&i f M
1*/ -774E rm.Aeavriev7'5 v46eeCE. &gr
w 1771 THrS 1,44 6.176D __
roaS
Weld county planning De
GREELEY:Apartment
MAY 1 8 2006
RECEIVED n,
ikz ACE TN6 IMPtdIFJWJJrS
AeeaM ,vV , FpE' is -1670
� KS
SEsse
Weld County planning De
GREELEY OFfpart ment
JUN X 2 2006
RECEIVED
69.4sv
4.6c National
Batik
! 6 L1f
February 15, 2007
Attn: Clerk to the Board
The Board of County Commissioners of the County of Weld
P.O. Box 758
Greeley,CO 80632
Re: Irrevocable Letter of Credit#0100429586
Highview Development, LLC., a Colorado limited liability company
Amount: $400,000.00
Expiration: April 19, 2007
To Whom It May Concern:
Please accept this letter as notification that the above referenced Letter of Credit will not
be automatically extended upon maturity. As stated in the original letter(copy enclosed),
it is automatically extended without amendments for additional one year periods unless
notified in writing by the bank 60 days prior to the expiration date. Peak National Bank
is not currently working on an extension, but may decide to extend prior to expiration.
The Board will need to contact Frank E. Wright, Manager of Highview Development,
LLC. regarding further requirements for the development at Highview Ranch.
Feel free to contact myself or John Benedetti,Branch President if you have any
questions.
(Siin�cerely,
Niki Zo ter
Assistant Vice-President
(303) 258-7071 Fax (303)258-7875
26 Hwy 119 South • P.O. Box 69 • Nederland,Colorado 80466
a
National
Bank COMMI STONERS
1001 HAY -3 A43. 32
April 30, 2007
RECEIVED
The Board of County Commissioners
Of the County of Weld
Attn: Clerk of the Board
P.O. Box 758
Greeley, CO 80632
Re: Replacement of Letter of Credit #100429586
Highview Development, LLC (Frank Wright) Highview Ranch
To Whom it May Concern:
This is a replacement Letter of Credit only for a term of 90-ays Frank has indicated that
he has been working closely with the County of Weld to complete his project within this
time frame.
This Letter as before will not be automatically renewed and should an additional
extension be required this will be forwarded to you at that time.
Should you have any questions please do not hesitate to contact either John Benedetti or
his loan staff at 303258-7071.
Respectfully,
by Engstrom
Central Loan Manager
/kme
Attachment
770 Heritage Road, Second Floor • Golden, CO 80401 • (303) 216-9530 • FAX (303) 271-0695
. • '4 .4
National
Bank
IRREVOCABLE LETTER OF CREDIT
TO: The Board of County Commissioners NO: 100429586
of the County of Weld DATE: April 19,2007
Attn:Clerk to the Board EXPIRY: July 19,2007
P.O. Box 758 AMOUNT: $400,000.00
Greeley,CO 80632
Re: Highview Development, LLC,a Colorado limited liability company; Developing Highview Ranch
To Whom It May Concern:
We hereby open our Irrevocable Letter of Credit in your favor for the account of Highview Development, LLC, a
Colorado limited liability company, whose address is 22 Seven Hills Drive, Boulder, CO 80302, for a sum not to exceed
the aggregate of Four Hundred Thousand and No/100 dollars($400,000.00).
Each draft so drawn under this credit are to be endorsed hereon and shall bear the clause DRAWN UNDER PEAK
NATIONAL BANK, 26 South Highway 119,Nederland,CO 80466-Letter of Credit No. 100429586 dated April 19, 2006
and be accompanied by a"signed statement from the Board of County Commissioners of Weld County, Colorado stating
the Developer has committed a material breach of the Improvements Agreement According to Policy Regarding collateral
for Improvements regarding See Exhibit A attached hereto and made a part hereof dated the 28th day of March 2006 by
and between Highview Development, LLC, a Colorado limited liability company and the Board of County
Commissioners of the County of Weld."
This credit is subject, so far as applicable, to "The Uniform Customs and Practice for Documentary Credits, 1993
Revision, The International Chamber of Commerce Publication No. 500."
We hereby agree with you that all drafts drawn under and in compliance with the terms of this credit will be duly honored
and presented for payment to our office, PEAK NATIONAL BANK, 26 South Highway 119,Nederland, CO 80466. This
Letter of Credit shall expire at 5:00 p.m. on July 19, 2007.
We hereby agree with the drawers, endorsers and bona fide holders of drafts drawn under and in accordance with the
terms of this credit that the same shall be duly honored and paid upon presentation at our office by presentation of the
following: (a) a draft at sight on PEAK NATIONAL BANK; (b) a statement purportedly signed by an official of the
Board of County Commissioners of Weld County, Colorado on or before expiry date of July 19, 2007.
Yours very truly,
PEAK NATIONAL BANK
By: c7 A
R ey K. L aA
umer,Branch President
770 Heritage Road, Second Floor • Golden, CO 80401 • (303) 216-9530 • FAX (303) 271-0695
,
i .I
EXHIBIT AA@
Name of Subdivision � � PtID
or Planned Unit Developinent Rtinch
Filing. pz-1074
Location: Highway 52 and 1/2 mile south on fl 3
Intending to belegallybound,the undersigned Applicanthaebyagreestoprovide thnmghont this Subdivision
or Planned Unit Development the following improvements. (Leave spaces blank what they do not apply.)
Inmrovemrnts Mmis Unit Hated
catt Construction Cost
Site grading 17,746 a 3_20 . 56;787
Street goading 10.019 CY 3.20 32.060
Street base 94,321 SF _40 37,728
Street paving ,68.081 , SF 1 .00 68,081
Curbs,@atlas,and adverts 17R ; T.F 10 00 1 ,780
Sidewa&
Storm sewerSeilties
Retentwnpamh 7,260 f'4 3_40 23,232
Ditch Improvements .
Subsurface drainage
,
Sanitary sewed
Trunk avd forced Imes 1
Mains . I
Laterals(house c i) 249 LF 9 00 2.241
On-site sewage fariEmes
One water supply and stage ,
Water Mains(includes bove) 2.904 . LP 9-00 26.136
Fire hydrants 12 EA 2,500 5,000
Survey and @wetraannments and bores
.
Street bell '
Street Names 3 EA 100 300
Fencing requirements
Landwqpis 4.9'i AC 110 539
Park impmve me
Raadcalvat 189 IF 10_0d 1 ,890
Grass lined swain
Telephone 9 EA 500_0d 4,500
Gras 9 EA 3,600 32,400
Electric . 1100 I.F 20_0d 22,000
Waterinnsfer 40% 49,236
SUB-TOTAL: 363,910
Engineering and Supervision Costs S 36,00 0
(Testing inspection,as-bm7t plans and wor$in addition to preinninary and final phi supervision of actual
construction by contractors)
TOTAL ESTIMATED COST OF IMPROVEMENTS AND SUPERVISION S.3 9 9,91 0
11 Revised03/09,204
346
DEED OF DEDICATION
KNOW ALL MEN BY THESE PRESENTS that HIGHVIEW DEVELOPMENT
LLC, whose address is 22 Seven Hills Drive, Boulder, Colorado 80302, being all of the
owners of certain property in Weld County, Colorado, which is described in the attached
Exhibit "A", do(es) hereby dedicate forever said property as parts of a public highway,
pursuant to Colorado Revised Statute 43-2-201(1)(a), free and clear of all liens and
encumbrances, except existing easements, and warrants title to the same.
EXCEPT RESERVING UNTO OWNERS the mineral estate under the Right of Way,
including oil,gas and any and all water rights currently attached or associated with the Right
of Way.
OWNER: HIGHVIEW DEVELOPMENT, LLC
Frank Wright, Maithger
STATE OF COLORADO )
) ss.
COUNTY OF WELD )
The foregoing instrument was acknowledged before me this 9 day of
SuNe , 20 0 7, by Frank Wright.
Witness my hand and official seal. %`%%%%%L. 0re AA*
����i,
r
S .
•Notary Pu 'y s 'J \O•�
' /O1
4O:46
My commission expires: '/7/jo 1#2F Ce.....
111111111111111111IIIII111111III1111111III1111111111111
3485346 06/22/20 :5w Weld County, CO
1 of 4 R 0.00 D00.0001 Steve Moreno Clerk& Recorder
aoo‘-a_39,H
ACCEPTANCE
The County of Weld, a body corporate and politic of the State of Colorado, by and
through its Board of County Commissioners,hereby accepts the above dedication of property
as Public Rights-of-Way or a Public Highway, pursuant to Colorado Revised Statute 43-2-
201(1)(a).
Dated this 18th day of June , 20 07 .
ATTEST: 444/4"44 COUNTY OF WELD, A BODY
CLERK TO THE BOARD OF CORPORATE AND POLITIC OF THE
TS s COUNTY COMMISSIONER ,'`,'" ia,4 STATE OF COLORADO
THE COUNTY OF WELD f c
a Art624110-f/1'i.t
BY: am 6
v` � 1 BY:
Deputy lerk to a Board David E. Long, Chair, BO OF
COUNTY COMMISSION S OF
THE COUNTY OF WEL
06/18/2007
STATE OF COLORADO )
) ss.
COUNTY OF WELD )
The foregoing instrument was acknowledged before me this/d day of
20 07,by dila g, Lei/ Chair,BOARD OF COUNTY COMMISSI ERS OF THE
COUNTY OF WELD.
Witness my hand and official seal.
Lary Public / r o:t.IOTARk kW:
CQ
My commission expires:
��'
My Commission Expires April 10,2008
I11111111111111111111111111111111111111III11111llllllll
3485346 06/22/2007 01:51P Weld County, CO
2 of 4 R 0.00 D 0.00 Steve Moreno Clerk& Recorder
&Oo6 - ?35/
EXHIBIT "A"
A PARCEL OF LAND LOCATED IN THE NORTHWEST QUARTER OF SECTION 5, TOWNSHIP
1 NORTH, RANGE 68 WEST OF THE SIXTH PRINCIPAL MERIDIAN, COUNTY OF WELD,
STATE OF COLORADO, ALSO BEING A PORTION OF LOT B, CORRECTED AMENDED
RECORDED EXEMPTION NO. 1467-05-2-CAMRE-3381, FILED IN THE WELD COUNTY
CLERK AND RECORDER'S OFFICE, BEING MORE PARTICULARLY DESCRIBED AS
FOLLOWS:
BASIS OF BEARING OF THIS DESCRIPTION IS ALONG THE WEST LINE OF THE
NORTHWEST QUARTER OF SAID NORTHWEST QUARTER OF SECTION 5, ASSUMED TO
BEAR SO1'02'50"W A DISTANCE OF 1460.87 FEET, FROM A 2" ALUMINUM CAP FOUND
AT THE NORTHWEST CORNER OF SAID SECTION 5, TO A NO. 5 REBAR FOUND AT
THE SOUTHWEST CORNER OF SAID NORTHWEST QUARTER OF THE NORTHWEST
QUARTER OF SECTION 5;
BEGINNING AT A POINT WHICH BEARS SOO'38'10"E A DISTANCE OF 1018.99 FEET
FROM SAID SOUTHWEST CORNER OF THE NORTHWEST QUARTER OF THE NORTHWEST
QUARTER OF SECTION 5;
THENCE 588'57'10"E A DISTANCE OF 10.00 FEET; THENCE SO1'03'04"W A DISTANCE
OF 365.26 FEET; THENCE 588'03'25"W A DISTANCE OF 10.01 FEET; THENCE
NO1'03'04"E A DISTANCE OF 365.78 FEET TO THE POINT OF BEGINNING; WHENCE
SAID NORTHWEST CORNER OF SECTION 5 BEARS NO0'21'20"E A DISTANCE OF
2479.60 FEET;
SAID PARCEL CONTAINS 3,655 SQUARE FEET OF LAND, MORE OR LESS.
I, THE UNDERSIGNED, A REGISTERED LAND SURVEYOR IN THE STATE OF COLORADO,
DO HEREBY STATE THAT THIS EXHIBIT WAS PREPARED BY ME OR UNDER MY
SUPERVISION AND IS TRUE AND ACCURATE TO THE BEST OF MY KNOWLEDGE.
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P.L.S. 31158 ATE
FO•'. � • 1 ; ' f; PRECISION SURVEY & MAPPING, INC.
A!LAH�_
111111 IIIII Mill 1111111 III
3485346 06/22/2007 01:51P Weld County, CO
3 of 4 R 0.00 D 0.00 Steve Moreno Clerk& Recorder
SHEET 1 OF 2
EXHIBIT MAP "A"
m t��NW COR SEC 5
TIN. R68W, 6TH PM
`tic FOUND 2" ALUMINUM
—1m CAP L.S.# 25937
to
'If'
LINE TABLE
LINE BEARING DISTANCE
L1 588'57'10"E 10.00'
w L2 S01'03'04"W 365.26'
'IX L3 S88'03'25"W 10.01'
NE1/4 SEC. 6 I� L4 N01'03'04"E 365.78'
T1N, R68W, 6TH P.M. i @@@
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NW1/4 SEC. 5
OIz T1N, R68W, 6TH P.M.
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\ En 3 SW COR NW1/4 NWT/4
SEC 5, TIN, R68W,
\
6TH P.M. FOUND N0. 5
W REBAR-NO CAP
\ w
L8 SDD'38'10"E-iI POINT OF
\ 2 1018.99'OE) �r.... L7
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cr coBEGINNING
\ $,
di /
\ w= OWNER:
in
FRANK WRIGHT
\ JU
i RECEPTION NO. 3172183
11 4LOT B
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- o % 10' UNITED POWER, INC.
m w ,F-O I / I EASEMENT REC. N0. 2855377
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ON 3 I / I CORRECTED AMENDED RECORDED d
LOT A lo` o I / I EXEMPTION NO. 1467-05-2-CAMRE-3381 — E
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I It- /1 =0K 0Z U
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�\ \ w 0 3,655 SQ. FT. t o
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\r I / �? 2
\\ I I / 1.) PARCEL OWNERSHIP IS BASED ON THE RECORDS 2
�\ I \ I / OF 1HE COUNTY ASSESSOR. �a-
(91"°*, 47
I / 2.) ACCORDING TO COLORADO LAW, YOU MUST .d-.
/ COMMENCE ANY LEGAL ACTION BASED UPON ANY _4—y
ts^`�9\\ I I / DEFECT IN THIS SURVEY WITHIN THREE YEARS AFTER �
\ i; /, YOU FIRST DISCOVER SUCH DEFECT. IN NO EVENT 0 O
\y�?`eOG\\ I i \ / MAY ANY ACTION BASED UPON ANY DEFECT IN THIS O
`r (O \ \ / SURVEY BE COMMENCED MORE THAN TEN YEARS
r...s=
\.o cp p AFTER THE DATE OF 1HE CERTIFICATION SHOWN _00 0
I \ /, HEREON. N
J, �'�,I VII 1•i / 3.) THE ONLY PURPOSE OF THIS EXHIBIT IS TO =N O
/t�p IF k �` / SHOW THE LOCATION OF THE EASEMENT(S). —N O
\`90 I w� ' / 4.) THIS EXHIBIT SHALL BE CONSIDERED NULL AND �1 " •
'`- I N / VOID IF IT DOES NOT BEAR THE ORIGINAL O
\1. L3 SIGNATURE AND SEAL OF THE PROFESSIONAL LAND I• CC
! 10.0 \ \ SURVEYOR OR IF ALTERED IN ANY WAY.
a0
0
40' R.O.W.—a-1 Iv ...„,_ \ EXHIBIT MAP "A"
-//__RTE_SSEE/IRPryVIIATTIIyOONA■I���I'I/�y� '\1Nn1 � DM Ern \) COUNTY
1 MOM*JNIILI NC � CF O. BY J.F.L.
S OF 2 WELD RANK WRICHfND 3
1780 S. Bellaire St., Ste. 230 al£09/29/08 roe�;R6102 MNI/4 SEC. 5, TIN, R68W. 6TH P.M.
Denver, CO 80222 ' '
t4303)753-979e FA%:(iO3)753-4044 SCALE:160 AREA 1665 50.D. COUNTY OF WELD, STATE OF COLORADO
110 ,
MEMORANDUM
11 I mi O • TO: Clerk to the Board DATE: June 12, 2007
FROM: Leon Sievers, Public Works
COLORADO
SUBJECT: Consent Agenda Item
Deed of Dedication Highview Development, LLC, owner, (FrankWright, manager) for road
improvements to WCR 3.
The appropriate documentation is attached.
M:\Franc ie\AgendaChairSignature.doc
z =Z d 1811
SI3140ISSVAW03
AlHf100 0`13M
CD1St-t Aye ic(CL 2 oco -- 2- 376
a"24•
Atha d(7v, ,
National_ 4-6 Bk
IRREVOCABLE LETTER OF CREDIT
The Board of County Commissioners NO: 100429586
of the County of Weld DATE: July 19, 2007
Attn: Clerk to the Board EXPIRY: October 19,2007
P.O. Box 758 AMOUNT: $400,000.00
Greeley, CO 80632
Re: Highview Development, LLC, a Colorado limited liability company; Developing Highview Ranch
Dear: Board of County Commissioners, Clerk of the Board,
We hereby open our Irrevocable Letter of Credit in your favor for the account of Highview Development, LLC, a
Colorado limited liability company, whose address is 22 Seven Hills Drive, Boulder, CO 80302, for a sum not to exceed
the aggregate of Four Hundred Thousand and No/100 dollars($400,000.00).
Each draft so drawn must be marked " DRAWN UNDER PEAK NATIONAL BANK, 26 South Highway 119,
Nederland, CO 80466-Letter of Credit No. 100429586 and be accompanied by a "signed statement from the Board of
County Commissioners of Weld County, Colorado stating the Developer has committed a material breach of the
Improvements Agreement According to Policy Regarding collateral for Improvements regarding See Exhibit A attached
dated the 28th day of March 2006 by and between Highview Development, LLC, a Colorado limited liability company
and the Board of County Commissioners of the County of Weld."
This credit is subject, so far as applicable, to "The Uniform Customs and Practice for Documentary Credits, 1993
Revision,The International Chamber of Commerce Publication No. 500."
We hereby agree with you that all drafts drawn under and in compliance with the terms of this credit will be duly honored
and presented for payment to our office,PEAK NATIONAL BANK, 26 South Highway 119,Nederland,CO 80466. This
Letter of Credit will expire on October 19, 2007 at 5:00 P.M.
This letter of credit is automatically extended with amendment, for additional one year periods from the current
expieration or any future expiration date unless 60 days prior to such current expiration date PEAK NATIONAL 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 PEAK NATIONAL 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 PEAK NATIONAL BANK the Letter of Credit No.100429586 will not be renewed and that Highview
Development, LLC, a Colorado limited liability company has failed to provide proof of adequate collateral and
substitution of this letter of Credit No.100429586; (c) copy of letter from PEAK NATIONAL BANK stating non-renewal
of Letter of Credit No.100429586 and the original letter of credit.
Yours Truly,
PEAK NATIONAL� BANK qQ
By: C24A —�L>— IJ[K5
John Benedetti,Branch President
770 Heritage Road, Second Floor • Golden, CO 80401 • (303) 216-9530 • FAX (303) 271-0695
MEMORANDUM
TO: Kim Ogle, Planning Services DATE: 3/1/2007
FROM: Donald Carroll, Engineering Administrator
SUBJECT: PF-1074, Highview Ranch PUD/
Frank E. Wright
This memo is to update the file.
Planning Services has indicated that the applicant is requesting final sign-off for a
complete release of collateral.
The following items deal with agreement, escrow, invoices, and requests:
The applicant has an Improvements Agreement According to Policy Regarding
Collateral for Improvements (public road maintenance). This document has been
approved and recorded with the Clerk and Recorder. The Letter of Credit #100429586
from the Peak National Bank in the amount of $400,000 is being retained by Weld
County and appears on our collateral list. The expiration date is 4/19/2007, automatic
renewal unless 60 days notice.
The Off-site Agreement for Improvements on WCR 3 was submitted, approved, and
recorded, #3421496 dated 9/21/2006. The Agreement was based upon the developed
nine lots with a proportional share of 35% of the traffic on the road. Each lot is to be
escrowed for a $6,000. The total escrow when fully funded is $54,000. This escrow
account does not appear on the Weld County collateral list. For the nine lots, the term
of the Agreement is based upon five years if WCR 3 is not paved
The applicant has paid the invoice identifying development construction permit dwelling
units of $1,350, off-site road agreement in the amount of $500, and $180.00 storm
water permit for a total of $2030.
Summary: The Weld County Public Work Department recommends No collateral be
released until the snow is gone and the issues of off-site escrows account be located.
Where is the escrow account being held? The applicant needs to supply documentation
of the account and if it is fully funded.
We will add these to our inspectors list to be visited.
pc: Dave Bauer, Chief Senior Engineer
Tracy Dyer, Engineering Inspection
Frank E. Wright, owner
PF-1074 file M:\PLANNING-DEVELOPMENT REVIEW-Final Plat(PF,MF, MJF)\PF-1074.doc
Donna Bechler
From: Kim Ogle
Sent: Friday, August 31, 2007 11:51 AM
To: Donna Bechler
Subject: FW: Release of collateral for PF-1074 (High View Ranch)
Attachments: PF-1074.doc
PF-1074.doc(36
KB)
Kim Ogle I Planning Manager
T: 970.356.4000 x 3549 I F: 970 304 6498
Weld County Planning Services - Greeley Office
918 Tenth Street Greeley CO 80631 I kogle@co.weld.co.us <mailto:kogle@co.weld.co.us>
<mailto:kogle@co.weld.co.us>
From: David Bauer
Sent: Friday, August 31, 2007 11:39 AM
To: Kim Ogle
Cc: Donald Carroll; Richard Hastings; Josh Holbrook
Subject: RE: Release of collateral for PF-1074 (High View Ranch)
Okay, just fooling, here's the memo too
David Bauer
Weld County Public Works
From: David Bauer
Sent: Friday, August 31, 2007 11:37 AM
To: Kim Ogle
Cc: Donald Carroll; Richard Hastings; Josh Holbrook
Subject: RE: Release of collateral for PF-1074 (High View Ranch)
Kim,
Attached is the March memo recommending that the County not release collateral at that
time. I will ask our inspectors to visit the site and verify what has and hasn't been
completed and to make a recommendation regarding appropriate collateral release for
completed items. If they are done, I believe that 15% should be retained for 1 year.
1
Note that this is one of those cases that was supposed to deposit $6000 per sold lot into
an escrow account. I don't think we've seen evidence that that has been done. The amount
should be $54,000. Any release of collateral should be contingent on the applicant's
proof that an escrow account in favor of the county should be provided.
Thanks,
David Bauer
Weld County Public Works
From: Kim Ogle
Sent: Friday, August 31, 2007 11:12 AM
To: David Bauer
Subject: FW: Release of collateral for PF-1074, PF-1011
Kim Ogle I Planning Manager
T: 970.356.4000 x 3549 I F: 970 304 6498
Weld County Planning Services - Greeley Office
918 Tenth Street I Greeley CO 80631 I kogle@co.weld.co.us <mailto:kogle@co.weld.co.us>
<mailto:kogle@co.weld.co.us>
From: David Bauer
Sent: Friday, March 02, 2007 2:06 PM
To: Kim Ogle
Cc: Donald Carroll; Drew Scheltinga
Subject: Release of collateral for PF-1074, PF-1011
Kim,
Don has been doing some research to follow-up on your referral regarding the release of
collateral for PF-1074 (Highview) and PF-1011 (Pelican Shores) . Neither of these is
ready for release from our standpoint. Don is sending you a memo on each. We will add
these to our inspectors list to be visited. The larger item is that we do not have enough
information on the required escrow accounts for the offsite escrow funds (similar
situation to the Dove Haven and Mill Creek situations) . I suggest no releases of any
collateral until those issues are resolved and the County is assured to receive those
funds for offsite improvements.
Call to discuss if you wish,
2
Thanks,
David Bauer, P.E.
Weld County Public Works
1111 H Street
Greeley, CO 80632-0758
(970) 304-6496
3
MutualofOmahaBank
770 Heritage Road
Golden CO 80401 eiy
T 303.216.9999 F 303.216.9998 `[7
7 I
mutualofomahabank.com
IRREVOCABLE LETTER OF CREDIT G
TO: The Board of County Commissioners NO: 0100429586
of the County of Weld DATE: November 1,2007
Attn: Clerk to the Board EXPIRY: December 19,2007
P.O.Box 758 AMOUNT: $400,000.00
Greeley, CO 80632
Re: Highview Development,LLC, a Colorado limited liability company;Developing Highview Ranch
To Whom It May Concern:
We hereby open our Irrevocable Letter of Credit in your favor for the account of Highview Development, LLC, a Colorado limited
liability company,whose address is 22 Seven Hills Drive,Boulder,CO 80302,for a sum not to exceed the aggregate of Four Hundred
Thousand and No/100 dollars($400,000.00).
Each draft so drawn under this credit are to be endorsed hereon and shall bear the clause DRAWN UNDER MUTUAL OF OMAHA
BANK (FKA PEAK NATIONAL BANK), 26 South Highway 119, Nederland, CO 80466-Letter of Credit No. 0100429586 dated
July 19, 2006 and be accompanied by a "signed statement from the Board of County Commissioners of Weld County, Colorado
stating the Developer has committed a material breach of the Improvements Agreement According to Policy Regarding collateral for
Improvements regarding See Exhibit A attached hereto and made a part hereof dated the 1st day of November 2007 by and between
Highview Development,LLC, a Colorado limited liability company and the Board of County Commissioners of the County of Weld."
This credit is subject, so far as applicable, to "The Uniform Customs and Practice for Documentary Credits, 1993 Revision, The
International Chamber of Commerce Publication No. 500."
We hereby agree with you that all drafts drawn under and in compliance with the terms of this credit will be duly honored and
presented for payment to our office, MUTUAL OF OMAHA BANK (FICA PEAK NATIONAL BANK), 26 South Highway 119,
Nederland,CO 80466. This Letter of Credit shall expire at 5:00 p.m. on December 19,2007.
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 MUTUAL OF OMAHA BANK(FKA PEAK NATIONAL
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) draft at sight on MUTUAL OF OMAHA BANK(FICA PEAK NATIONAL 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 MUTUAL OF OMAHA BANK(FKA PEAK NATIONAL BANK) the Letter of Credit No. 0100429586
will not be renewed and that we Highview Development, LLC has failed to provide proof of adequate collateral and substitution of
this Letter of Credit No. 0100429586; (c) copy of letter from MUTUAL OF OMAHA BANK (FKA PEAK NATIONAL BANK)
stating non-renewal of Letter of Credit No. 0100429586 and the original letter of credit.
Yours very truly,
MUTAUL OF OMAHA BANK (FKA PEAK NATIONAL BANK)
By: c k--- g,L,GeLt
John Benedetti, Branch President
A
ENDER Member F
Donna Bechler
From: Sarah.Bowman@mutualofomahabank.com
Sent: Thursday, November 01, 2007 10:54 AM
To: Donna Bechler
Subject: Irrevocable Letter of Credit for review
Attachments: 07 Highview Dev LOC.doc
07 Highview Dev
LOC.doc(31 KB...
Please see the attached per our conversation. In regards to the bank name
change due to the recent buy-out and correct verbiage as to so many hands
have been in this file. If you do in fact need this extended we will of
course print the final draft on our letter head.
Thank you for your assistance. (See attached file: 07 Highview Dev
LOC.doc)
Sarah Bowman
Loan Administrator
770 Heritage Road, 2nd Floor
Golden, CO 80401
Ph# 303-216-9530
Fax # 303-271-0695
Sarah.Bowman@MutualofOmahaBank.com
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1
Hello