HomeMy WebLinkAbout20023199.tiff 720
RESOLUTION
RE: APPROVE CANCELLATION AND RELEASE OF COLLATERAL FOR AVERY ACRES
PLANNED UNIT DEVELOPMENT FINAL PLAN #496 -JOHN AND JAMES SUTTER,
DBA AVERY FARMS, LLC
WHEREAS, the Board of County Commissioners of Weld County, Colorado, pursuant to
Colorado statute and the Weld County Home Rule Charter, is vested with the authority of
administering the affairs of Weld County, Colorado, and
WHEREAS, by Resolution dated December 8, 1999, the Board did approve the
application of John and James Sutter, 800 Hawkstone Drive, #27, Eaton, Colorado 80615, for a
Planned Unit Development (PUD) Final Plan, S #496, for five (5) Estate lots and one
A (Agricultural) outlot, on the following described real estate, to wit:
Lot B of Recorded Exemption #1683; being part of
the W1/2W1/2 and NE1/4SW1/4 of Section 10,
Township 6 North, Range 65 West of the 6th P.M.,
Weld County, Colorado, and
WHEREAS, on May 1, 2000, the Board of County Commissioner of Weld County,
Colorado, did approve an Improvements Agreement According to Policy Regarding Collateral
for Improvements (Publicly Maintained Roads) for Avery Acres Planned Unit Development,
between the County of Weld, State of Colorado, by and through the Board of County
Commissioners of Weld County, and John and James Sutter, with terms and conditions being
as stated in said agreement, and accept Irrevocable Letter of Credit Number 587, drawn on the
Union Colony Bank, in the amount of$55,000.00, and
WHEREAS, staff from the Weld County Department of Public Works has conducted a
visual inspection and recommends release of said collateral.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of
Weld County, Colorado, that the Irrevocable Letter of Credit Number 587, drawn on the Union
Colony Bank, in the amount of$55,000.00 be, and hereby is, canceled and released.
BE IT FURTHER RESOLVED by the Board that the Clerk to the Board be, and hereby
is, directed to return said collateral to the appropriate issuing party.
111111 111I1 1111111 III 1111111111 MIMI III IIIII gill
3019720 12/31/2002 01:57P Weld County, CO 2002-3199
1 of 2 R 0.00 D 0.00 J.A. "Suki" Tsukamoto PL1274
,c.'SiOVeri PA)/ P/P2
CANCEL COLLATERAL - JOHN AND JAMES SUTTER, DBA AVERY FARMS, LLC (S#496)
PAGE 2
The above and foregoing Resolution was, on motion duly made and seconded, adopted
by the following vote on the 16th day of December, A.D., 2002.
BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, C LORA O
ATTEST:
Gle aad, hair
Weld County Clerk to th tBo -,f�� o
t a) �� /
7: "''�% I David E. ong, Pro-Tem
Deputy Clerk to the Board
M. J. eile
APPROVED AS TO FORM: EXCUSED DATE OF SIGNING (AYE)
)William H. Jerke
12 ten4
County Attorney
Robe D. Masden
/alto
Date of signature:
I111111111111111111111111i 1111111111111 III 113 11111113019720 12/31/2002 01:57P Weld County, CO 2002-3199
2 of 2 R 0.00 0 0.00 J.A. Suki" Tsukamoto
PL1274
MEMORANDUM
IIiDcTO: Weld County Department of Planning Services 1 2
COLORADO DATE: December 6, 2002
RE_:( LD
FROM: Sheri Lockman, Planner II
SUBJECT: Release of Collateral
S-496, Sutter (Avery Acres PUD)
The Weld County Departments of Public Works and Planning Services are requesting the
release of collateral for S-496, Avery Acres Planned Unit Development. Site inspections have
assured both Departments that all items listed in the improvements agreement have been
completed to our satisfaction.
Street grading $ 7,500
Street base 7,500
Landscaping 2,000
Road culvert 3,000
Electric 10,000
Water transfer 25,000
Total 55,000
2002-3199
MEMORANDUM
' TO: Sheri Lockman, Planner II DATE: December 5, 2002
C t
• FROM: Donald Carroll, Engineering Administrator
COLORADO
SUBJECT: S-496, Sutter (Avery Acres) Subdivision
Release of Collateral
At the request of Planning Services and the applicant, a site investigation for final release of
collateral was completed December 4, 2002. I have verified all the transportation items
identified on Exhibit A on the Improvements Agreement. All items are complete to my
satisfaction.
Non-transportation items such as landscaping, trees, telephone, electric, and water taps appear
to be in place. These items shall be verified by Planning Services prior to any release.
pc: S-496 m:/planning/S-2.doc
Tf
UNION COLONY
'told County Planning Dept.
N as
I R, VOG ER OF CREDIT 587
�o.r- APB 10 2000
March 27,2000 �gb� '1/2 40 ��ti9s�4•
�� ��titiPs alRECElVED
Board of County Commissioners ®� q�Sg GP0 ��pQ,'$oa{
P.O. ox 758 ATTN: Clerk to the Board l S4� 9 �a4 Go tae °n
Greeley,CO 80632 • 4� o\- et- 1 4./11/ [�f
Y v 0.SO $�•• Gat G1e
RE: Avery Farms,LLC. ,James T. Sutter, Individually and John A. Sutter, Individually
To Whom It May Concern:
We hereby open our Irrevocable Letter of Credit in your favor for the account of Avery Farms, LLC.,
James T. Sutter and John A. Sutter at 37353 highway 85,Eaton,CO 80615,for a sum not to exceed the
aggregate of Fifty Five Thousand Dollars and No/100s.
Each draft so drawn must be marked"Drawn under UNION COLONY BANK,P.O. Box 961,Greeley,CO
80632,Letter of Credit No.587 and be accompanied by a"signed statement from the Board of County
Commissioners of Weld County, Colorado stating that Avery Farms,LLC, has committed a material breach
of the Improvements Agreement According to Policy Regarding collateral for Improvements regarding
Avery Acres,PUD dated the day of 2000 by and between Avery Farms.LLC,
James T.Sutter,Individually and John A.Sutter, Individually 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,
1983 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 main office,UNION COLONY BANK, 1701 23RD
AVE,GREELEY,CO 80631. This letter of credit will expire on March 27,2001 at 5:00 P.M. /
This letter of credit is automatically extended without amendment, for additional one year periods from the
current expiration or any future expiration date unless 60 days prior to such current expiration date UNION
COLONY 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
UNION COLONY 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 UNION COLONY
BANK the Letter of Credit No.587 will not be renewed and that Avery Farms,LLC,James T. Sutter,
Individually and John A. Sutter,Individually has failed to provide proof of adequate collateral and
substitution of this Letter of Credit No. 587;(c)copy of letter from UNION COLONY BANK stating non-
renewal of Letter of Credit No 587 and the original letter of credit.
ruly,
gt;Thomas . F agan IA Y �
Preside.t - ---
1701 Twenty Third Avenue. • Greeley,CO 80634 • Phone 970-356-7000 • Fax 970-346-5084
member 920 Fifty Fourth Avenue • Greeley,CO 80634 • Phone 970-356-7000 • Fax 970-392-0504
FDIC 700 Main Street • Windsor,CO 80550 • Phone 970-686-2600 • Fax 970-686-7091
1600 East Bridge Street • Brighton,CO 80601 • Phone 303-659-1622 • Fax 303-637-0084
ENDER
Hello