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Home My WebLink About20050270.tiff 275 RESOLUTION RE: APPROVE CANCELLATION AND RELEASE OF COLLATERAL FOR STAMP MINOR SUBDIVISION FINAL PLAN, MF#1017 - JEFF STAMP 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 May 19, 2004, the Board of County Commissioners approved the application of Jeff Stamp, P. O. Box 1198, Longmont, Colorado 80502, for a Minor Subdivision Final Plan on the following described real estate, to wit: Lot B of Recorded Exemption#2462;being part of the SW1/4 of Section 36, Township 4 North, Range 68 West of the 6th P.M., Weld County, Colorado, and WHEREAS, on September 22, 2004, the Board approved an Improvements Agreement According to Policy Regarding Collateral for Improvements(Private Road Maintenance)for Stamp Minor Subdivision, between the County of Weld, State of Colorado, by and through the Board of County Commissioners of Weld County,and Jeff Stamp with terms and conditions being as stated in said agreement, and accepted Irrevocable Letter of Credit#32, drawn on the Flatirons Bank, 5400 Mt. Meeker Road, Boulder, Colorado 80301, in the amount of$169,380.00, and WHEREAS, staff from the Weld County Departments of Planning Services and Public Works has conducted a visual inspection and recommends release of said collateral. NOW,THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld County,Colorado,that Irrevocable Letter of Credit#32,drawn on the Flatirons Bank,in the amount of$169,380.00, 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. 1111111111111111111111111111 N 11111 III11111IIII IIII 3259275 02/07/2005 12:59P Weld County, CO 1 of 2 R 0.00 D 0.00 Steve Moreno Clerk& Recorder 2005-0270 PL1676 (70 ; pt, CANCEL COLLATERAL - STAMP MINOR SUBDIVISION MF#1017 PAGE 2 The above and foregoing Resolution was,on motion duly made and seconded,adopted by the following vote on the 19th day of January, A.D., 2005. BOARD OF COUNTY COMMISSIONERS EL ,/////// WELD COUNTY, COLORADO `ti"%fWilliam H erke, Chair 861 .`l o Jerk to the Board --7 , �J�/ ei e, Pro-Tern eputy Clerks th oard id E. Long SST- M: ------2-2„..— R4,4A . Mate/ ty orney i Glenn Vaad Date of signature: !"""^ 1111111111111011111111111111 IIII MI Ill 11111 M Jill 3259275 02/07/2005 12:59P Weld County, CO 2 of 2 R 0.00 D 0.00 Steve Moreno Clerk& Recorder 2005-0270 PL1676 44-\\K atio MEMORANDUM Wi` a TO: Board of County Commissioners COLORADO DATE: January 17, 2005 FROM: Kim Ogle, Planning Manager SUBJECT: Release of Collateral for Improvements Stamp Minor Subdivision Case Number MF-1017 Jeff Stamp The Department of Public Works has reviewed the drainage and transportation line items for the Stamp Minor Subdivision and recommends release of the Collateral, as indicated in the • electronic mail from Peter Schei, of January 13, 2005. Therefore, the Department of Public Works and the Department of Planning Services, have determined that the improvements for the Stamp Minor Subdivision, case number MF-1017 have been completed and recommend the full release of the Letter of Credit. Weld County Planning Department GREELEY OFFICE DEC 13 2004 Department of Planning Services December 9, 2004R E C E I V E D 918 10`h St Greeley, CO 80631 Attention: Sheri Lockman, Planner RE: Release of letter of credit for subdivision improvements. Stamp Minor Subdivision MF-1017 Dear Sheri, The subdivision improvements for my Stamp Minor subdivision have been completed. I am formally requesting the full release of my letter of credit which is in favor of Weld County to guaranty the installation of the subdivision improvements. Thank your for your consideration. I can be reached at 303-931-8951 if you need additional information or clarification. Jeff Stamp P.O.Box 1198 Longmont, CO 80502 303-931-8951 WIlDC. FAX TRANSMISSION COLORADO Weld County DEPARTMENT OF PLANNING SERVICES Fax: 970-304-6498 Phone: 970-353-6100, ext. 3540 To: torn Date: /7///O7/ Fax: 579 e7 Pages: 7 , including cover Phone: From: Subject: COMMENTS: iQjic&e zte If you need any further information, please feel free to contact me at the above telephone number. CONFIDENTIAL This facsimile is intended only for the use of the individual or entity to which it is addressed and may contain information that is privileged confidential,and exempt from disclosure under applicable law. If the reader of this facsimile is not the intended recipient nor the employee or agent responsible for delivering the facsimile to the intended recipient,you are hereby notified that any dissemination,distribution,or copying of this communication is strictly prohibited. If you have received this communication in error,please notify us immediately by telephone and return the original message to us at the above address via the U.S.Postal Service. Thank you. Page 1 of 1 Kim Ogle From: Peter Schei Sent: Thursday, January 13, 2005 2:59 PM To: Sheri Lockman; Kim Ogle Subject: MF-1017 Stamp Minor Subdivision Good Afternoon, Sheri: The Public Works Department officially signs-off on the improvements attributed to our review for this project. Normally these are drainage and transportation related items. Please go ahead and schedule the release of collateral wrt Stamp Minor Subdivision (MF-1017) and keep us in the loop for the hearing date. Thank you! Have a nice day, Peter. Peter SCHEI, P.E., N.S.P.E. Public Works Department Weld County pschei@co.weld.co.us 01/13/2005 5400 Mt. Meeker Road, Boulder, CO 80301 303/530-4999 • Fax 303/530-4735 FLATIRONS BANK November 10, 2004 Board of County Commissioners Attn: Clerk to the Board P.O. Box 1190 Greeley, CO 80632 Re: A. Jeffrey and Teresa M. Stamp Letter of Credit To Whom It May Concern: Enclosed is an updated replacement of our original Letter of Credit number 30 issued August 23, 2004. The original letter of credit contained a typographical error in the expiration date at the top of the page. We have issued Letter of Credit number 32 as a replacement. Please sign the lower portion of this letter and return this along with the original Letter of Credit number 30 back to Flatirons Bank. We appreciate your assistance. If you have any questions, please feel free to contact us at 303-530-4999. Thank you. Sincerely, 1-1-2,4t desela, Tom Chesney President/CEO We acknowledge receipt of the Letter of Credit number 32 as a replacement to previous Letter of Credit number 30. We acknowledge the original Letter of Credit number 30 has been cancelled and we are returning it back to Flatirons Bank. 1UV` Date:II Board of Commissioners www.FlatlronsBank.coin Member FDIC • o CLERK TO THE BOARD PHONE (970) 336-7215, Ext. 4225•i FAX: (970) 352-0242 P. O. BOX 758 W O GREELEY, COLORADO 80632 COLORADO February 7, 2005 Jeff Stamp P. O. Box 1198 Longmont, Colorado 80502 RE: Cancellation and release of Collateral To Whom It May Concern: Attached hereto please find a copy of the Board of County Commissioner's Resolution approving the cancellation and release of your collateral. The original Irrevocable Letter of Credit No. 32 is enclosed, per your instructions. If you have questions or need additional information, please do not hesitate to contact me at (970) 356-4000, Extension 4217. Very truly yours, BOARD OF COUNTY COMMISSIONERS By: /Li A,B711 fI-L Carol A. Har ing, Deputy Clerk to the Board -- 5400 Mt. Meeker Road, Boulder, CO 80301 303/530-4999 • Fax 303/530-4735 FLATIRONS BANK -40 IRREVOCABLE LETTER OF CREDIT NO 32 tiS. h November 4, 2004 0� r 4 o •c• cti. CISS 024 Board of County Commissioners Letter of Credit No. 32 0 ATTN: Clerk to the Board Issue Date: August 23, 2004 P.O. Box 1190 Exp. Date: August 18, 2005 Greeley, CO 80632 Amount: $169,380.00 (One hundred and sixty nine thousand three hundred and eighty dollars and no/100) RE: A. Jeffrey and Teresa M. Stamp Dear: We hereby open our Irrevocable Letter of Credit in your favor for the account of A. Jeffrey and Teresa M. Stamp, 5301 Weld County Road 38, Platteville, CO 80651, for a sum not to exceed the aggregate of One hundred and sixty nine thousand three hundred and eighty dollars and no/100. Each draft so drawn must be marked drawn under FLATIRONS BANK, 5400 Mt. Meeker Rd, Boulder, CO 80301, Letter of Credit No. 32 and be accompanied by a signed statement from the Board of County Commissioners of Weld County, Colorado stating A. Jeffrey and Teresa M. Stamp have committed a material breach of the Improvements Agreement According to Policy Regarding collateral for Improvements regarding, Site specific development plan and minor subdivision final plan, MF #1017, for nine lots with E (estate) zoning-Jeff Stamp dated the 19`" day of May, 2004 by and between A. Jeffrey and Teresa M. Stamp 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 main office, FLATIRONS BANK, 5400 Mt Meeker Road, Boulder, CO 80301. This letter of credit will expire on 8/18/2005 at 5:00P.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 FLATIRONS BANK 5400 Mt. Meeker Rd, Boulder, CO 80301, 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 FLATIRONS BANK. b) A statement purportedly signed by an official of the Board of Commissioners of Weld County, Colorado stating that we have received notice from FLATIRONS BANK the Letter of Credit No. 32 will not be renewed and that A. Jeffrey and Teresa M. Stamp has failed to provide proof of adequate collateral and substitution of this Letter of Credit No. 32 c) Copy of letter from FLATIRONS BANK stating non-renewal of Letter of Credit No. 32 and the original letter of credit. Yours truly, (VIE tz,ey Tom Chesney CEO/President Hello