HomeMy WebLinkAbout20051612.tiff RESOLUTION
RE: APPROVE IMPROVEMENTS AGREEMENT ACCORDING TO POLICY REGARDING
COLLATERAL FOR IMPROVEMENTS(PRIVATE ROAD MAINTENANCE),AUTHORIZE
CHAIR TO SIGN, AND ACCEPT COLLATERAL FOR FINAL PLAN, MF #1053 - MARY
F.CARLSON REVOCABLE LIVING TRUST AND GEORGE B.CARLSON REVOCABLE
LIVING TRUST
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 Board of County Commissioners, on March 9, 2005, the Department of
Planning Services staff approved a Final Plan, MF #1053, for Mary F. Carlson Revocable Living
Trust and George B. Carlson Revocable Living Trust, 7561 Kelty Trail, Franktown, Colorado
80116, for a nine (9) lot Minor Subdivision on the following described real estate, to-wit:
Lot B of Second Amended Recorded Exemption
#1873; being part of the NE1/4 of Section 8,
Township 7 North, Range 67 West of 6th P.M., Weld
County, Colorado
WHEREAS, pursuant to certain Conditions of Approval,the Board has been presented with
an Improvements Agreement According to Policy Regarding Collateral for Improvements (Private
Road Maintenance) between the County of Weld, State of Colorado, by and through the Board of
County Commissioners of Weld County, and Mary F. Carlson Revocable Living Trust and George
B. Carlson Revocable Living Trust, with terms and conditions being as stated in said agreement,
and
WHEREAS, the Board has been presented with Irrevocable Letter of Credit No. 299 from
New Frontier Bank, 2425 35th Avenue, Greeley, Colorado 80634, in the amount of$137,730.75,
and
WHEREAS, after review, the Board deems it advisable to approve said agreement 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 Agreement According to Policy Regarding Collateral for
Improvements(Private Road Maintenance)between the County of Weld,State of Colorado,by and
through the Board of County Commissioners of Weld County, and Mary F. Carlson Revocable
Living Trust and George B. Carlson Revocable Living Trust, be, and hereby is, approved.
BE IT FURTHER RESOLVED that Irrevocable Letter of Credit No. 299 from New Frontier
Bank, 2425 35th Avenue, Greeley, Colorado 80634, in the amount of$137,730.75, be and hereby
is, accepted.
2005-1612
PL1724
�c ; Pt , icJ, 'l—, �Ccfl�
IMPROVEMENTS AGREEMENT- MARY F. CAROLS REVOCABLE LIVING TRUST AND
GEORGE B. CARLSON REVOCABLE LIVING TRUST
PAGE 2
The above and foregoing Resolution was, on motion duly made and seconded, adopted by
the following vote on the 1st day of June, A.D., 2005.
BOARD OF COUNTY COMMISSIONERS
♦ /11 // ////th WELD COUNTY, COLORADO
t'=.!% _la; William H er e, Chair
�;: a�� my Clerk to the Board may//'
Fr 7 l �,
♦ •wimp al M. J. ile, ro-Tem
�
Deputy Clerk to the Board
DD id E. Long
AP ED AS TO F
Robe . Masden
ounty Attorney C/O
Glenn Vaad
Date of signature: _Z —
2005-1612
PL1724
‘0:144; MEMORANDUM
Wi`Pe. TO: Board of County Commissioners May 26, 2005
COLORADO FROM: Jacqueline Hatch
SUBJECT: MF-1053, Prairie Ridge Estates
The Department of Planning Services received an irrevocable letter of credit for the Private
Improvements Agreement for MF-1053 (Prairie Ridge Estates).
The collateral for the Improvements Agreement is in the amount of one hundred thirty seven
thousand, seven hundred and fifty dollars and seventy five cents ($137,750.75) for on-site
improvements.
After review of the collateral by the Department of Public Works and the Department of Planning
Services, it has been determined that the amount of the agreement will be sufficient to complete
the work required for MF-1053, and the Departments of Planning Services and Public Works
recommend acceptances of this collateral.
2005-1612
Forest Floor Page 1 of 1
Jacqueline Hatch
From: Peter Schei
Sent: Monday, March 28, 2005 9:02 AM
To: Jacqueline Hatch
Subject: MF-1053 Prairie Ridge Estates Minor Subdivision - Improvements Agreement (private road maintenance)
Good Morning,Jacqueline:
I have reviewed the submitted improvements agreement and find it acceptable to Public Works.
It may be scheduled for acceptance by the BOCC.
Thank you...Have a good day. Peter.
PeterSCH£!,P.E.,N.S.P.E.
Public Works Department
Weld County
-III Street
Greeley,CO 80632
eh�i n%t n.weIil.cn.us
•
03/28/2005
Weld County Planning Department
5j GREELEY OFFICE
IMPROVEMENTS AGREEMENT ACCORDING TO APR 13 2005
POLICY REGARDING COLLATERAL FOR IMPROVEMENTS
(PRIVATE ROAD MAINTENANCE) RECEIVED
THIS AGREEMENT,made and entered into this day of ,20_,by and
between the County of Weld, State of Colorado, acting through its Board of County Commissioners,
hereinafter called"County,@ and 61.a..ty, f3 t ine,,7 F C,r;Le, hereinafter called"Applicant."
WITNESSETH:
WHEREAS, Applicant is the owner of, or has a controlling interest in the following described
property in the County of Weld, Colorado:
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pWHEREAS,a Final Subdivision/Planned Unit Development(PUD)plat of said property,to be known
as Y ra r, ; e Q rely". ES 't..t. ; has been submitted to the County
for approval, and
WHEREAS, relevant Sections of the Weld County Code provide that no Subdivision Final Plat,
Planned Unit Development Final Plat, or Site Plan shall be approved by the County until the Applicant has
submitted a Subdivision Improvement Agreement guaranteeing the construction of the public improvements
shown on plans, plats and supporting documents of the Subdivision Final Plat, Planned Unit Development
Final Plat,or Site Plan,which improvements,along with a time schedule for completion,are listed in Exhibits
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:
1.0 Engineering Services: Applicant shall furnish,at its own expense,all engineering services in
connection with the design and construction of the Subdivision or Planned Unit Development
improvements listed on Exhibit AA,@ which is attached hereto and incorporated herein by
reference.
1.1 The required engineering services shall be performed by a Professional Engineer and
Land Surveyor registered in the State of Colorado,and shall conform to the standards
and criteria established by the County for public improvements.
1.2 The required engineering services shall consist of, but not be limited to, surveys,
designs,plans and profiles,estimates,construction supervision,and the submission
of necessary documents to the County.
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1.3 Applicant shall furnish drawings and cost estimates for roads within the Subdivision
or Planned Unit Development to the County for approval prior to the letting of any
construction contract. Applicant shall furnish one set of reproducible "as-built"
drawings and a final 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.
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@ which is also attached hereto and incorporated herein by reference.
3.1 Said construction shall be in strict conformance to the plans and drawings approved
by the County and the specifications adopted by the County for such public
improvements. Whenever a Subdivision or Planned Unit Development is proposed
within three miles of an incorporated community located in Weld County or located
in any adjacent county, the Applicant shall be required to install improvements in
accordance with the requirements and standards that would exist if the plat were
developed within the corporate limits of that community. If the incorporated
community has not adopted such requirements and standards at the time the
Subdivision or Planned Unit Development is proposed, the requirements and
standards of the County shall be adhered to. If both the incorporated community and
the County have requirements and standards,those requirements and standards that
are more restrictive shall apply.
3.2 Applicant shall employ, at its own expense,a qualified testing company previously
approved by the County to perform all testing of materials or construction that is
required by the County; and shall furnish copies of test results to the County.
3.3 At all times during said construction, the County shall have the right to test and
inspect, or to require testing and inspection of material and work at Applicant's
expense. Any material or work not conforming to the approved plans and
specifications shall be removed and replaced to the satisfaction of the County at
Applicant's expense.
3.4 Applicant shall furnish proof that proper arrangements have been made for the
installation of sanitary sewer or septic systems, water, gas, electric and telephone
services.
3.5 Said Subdivision or Planned Unit Development improvements shall be completed,
according to the terms of this Agreement,within the construction schedule appearing
in Exhibit AB.@ The Board of County Commissioners, at its option, may grant an
extension of the time of completion shown on Exhibit AB@ upon application by the
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
all liability loss and damage County may suffer as a result of all suits, actions or claims of
every nature and description caused by, arising from, or on account of said design and
construction of improvements,and pay any and all judgments rendered against the County on
account of any such suit,action or claim,together with all reasonable expenses and attorney
fees incurred by County in defending such suit, action or claim whether the liability, loss or
damage is caused by, or arises out of the negligence of the County or its officers, agents,
employees, or otherwise except for the liability,loss, or damage arising from the intentional
torts or the gross negligence of the County or its employees while acting within the scope of
their employment. All contractors and other employees engaged in construction of the
improvements shall maintain adequate worker's compensation insurance and public liability
insurance coverage,and shall operate in strict accordance with the laws and regulations of the
State of Colorado governing occupational safety and health.
(THERE IS NO SECTION 5)
6.0 Approval of Streets by the County: Upon compliance with the following procedures by the
Applicant,streets within a Subdivision or Planned Unit Development may be approved by the
County as public roads and will be maintained and repaired by a Homeowners Association
or, in its absence, the owners of lots within the Subdivision or Planned Unit Development.
6.1 If desired by the County,portions of street improvements may be placed in service
when completed according to the schedule shown on ExhibitAB,@ but such use and
operation shall not constitute an approval of said portions.
6.2 County may, at its option, issue building permits for construction on lots for which
street improvements detailed herein have been started but not completed as shown on
Exhibit AB,@ and may continue to issue building permits so long as the progress of
work on the Subdivision or Planned Unit Development improvements in that phase
of the development is satisfactory to the County; and all terms of this Agreement
have been faithfully kept by Applicant.
6.3 Upon completion of the construction of streets within a Subdivision or Planned Unit
Development and the filing of a Statement of Substantial Compliance, the
applicant(s)may request in writing that the County Engineer inspect its streets and
recommend that the Board of County Commissioners partially approve them. Not
sooner than nine months after partial approval, the County Engineer shall, upon
request by the applicant,inspect the subject streets,and notify the applicant(s)of any
deficiencies. The County Engineer shall reinspect the streets after notification from
the applicant(s)that any deficiencies have been corrected. If the County Engineer
finds that the streets are constructed according to County standards,he or she shall
recommend full approval. Upon a receipt of a positive unqualified recommendation
from the County Engineer for approval of streets within the development,the Board
of County Commissioners shall fully approve said streets as public but with private
pay.
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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. Applicant may request that the County extend the Final Plat
approval provided the cost estimates are updated and the development plans are
revised to comply with all current County standards,policies and regulations. The
improvements shall be completed within one(1)year after the Final Plat approval
(not one year after acceptable collateral is submitted) unless the applicant(s)
requests that this Agreement be renewed at least thirty (30) days prior to its
expiration and further provides that cost estimates for the remaining improvements
are updated and collateral is provided in the amount of One-Hundred percent
(100%) of the value of the improvements remaining to be completed. If
improvements are not completed and the agreement not renewed within these time
frames, the County, at its discretion, may make demand on all or a portion of the
collateral and take steps to see that the improvements are made.
7.2 The applicant may choose to provide for a phased development by means of
designating filings of a Planned Unit Development Final Plat or Subdivision Final
Plat. The applicant would need only to provide collateral for the improvements in
each filing as approved. The County will place restrictions on those portions of the
property that are not covered by collateral which will prohibit the conveyance of the
property or the issuance of building permits until collateral is provided or until
improvements are in place and approved pursuant to the requirements for a Request
for Release of Collateral.
7.3 The applicant intends to develop in accordance with Exhibits AA@ and AB.@
8.0 Improvements Guarantee: The five types of collateral listed below are acceptable to Weld
County subject to final approval by the Board of County Commissioners.
8.1 An irrevocable Letter of Credit from a Federal or State licensed financial institution
on a form approved by Weld County. The Letter of Credit shall state at least the
following:
8.1.1 The Letter of Credit shall be in an amount equivalent of One-Hundred
percent(100%)of the total value of the improvements as set forth in Section
6.0 and Exhibits 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.
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8.1.3 The applicant may draw from the Letter of Credit in accordance with the
provisions of this policy.
8.1.4 The issuer of the Letter of Credit shall guarantee that, at all times the
unreleased portion of the Letter of Credit shall be equal to a minimum of
One-Hundred percent (100%) of the estimated costs of completing the
uncompleted portions of the required improvements,based on inspections of
the development by the issuer. In no case shall disbursement for a general
improvement item exceed the cost estimate in the Improvements Agreement
(i.e., streets, sewers, water mains and landscaping, etc.). The issuer of the
Letter of Credit will sign the Improvements Agreement aclaaowledginglhe....._-_.__
agreement and its cost estimates
8.1.5 The Letter of Credit shall specify that fifteen percent (15%) of the total
Letter of Credit amount cannot be drawn upon and will remain available to
Weld County until released by Weld County.
8.1.6 The Letter of Credit shall specify that the date of proposed expiration of the
Letter of Credit shall be either the date of release by Weld County of the
final fifteen percent(15%),or one year from the date of Final Plat approval,
whichever occurs first. Said letter shall stipulate that, in any event, the
Letter of Credit shall remain in full force and effect until after the Board has
received sixty(60)days written notice from the issuer of the Letter of Credit
of the pending expiration. Said notice shall be sent by certified mail to the
Clerk to the Board of County Commissioners.
8.2 Trust Deed upon all or some of the proposed development or other property
acceptable to the Board of County Commissioners provided that the following are
submitted:
8.2.1 In the event property within the proposed development is used as collateral,
an appraisal is required of the property in the proposed development by a
disinterested Member of the American Institute of Real Estate Appraisers
(M.A.I.)indicating that the value of the property encumbered in its current
degree of development is sufficient to cover One-Hundred percent(100%)of
the cost of the improvements as set forth in the Improvements Agreement
plus all costs of sale of the property.
8.2.2 In the event property other than the property to be developed has been
accepted as collateral by Weld County, then an appraisal is required of the
property by a Member of the Institute of Real Estate Appraisers (M.A.I.)
indicating that the value of the property encumbered in its current state of
development is sufficient to cover One-Hundred percent(100%)of the cost
of the improvements as set forth in the Improvements Agreement plus all
costs of sale of the property.
8.2.3 A title insurance policy insuring that the Trust Deed creates a valid
encumbrance which is senior to all other liens and encumbrances.
8.2.4 A building permit hold shall be placed on the encumbered property.
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8.3 Escrow Agreement that provides at least the following:
8.3.1 The cash in escrow is at least equal to One-Hundred percent(100%)of the
amount specified in the Improvements Agreement.
8.3.2 The escrow agent guarantees that the escrowed funds will be used for
improvements as specified in the agreement and for no other purpose and
will not release any portion of such funds without prior approval of the Weld
County Board of Commissioners.
8.3.3 The escrow agent will be a Federal or state-licensed bank or financial
institution.
8.3.4 If Weld County determines there is a default of the Improvements
Agreement,the escrow agent,upon request by the County,shall release any
remaining escrowed funds to the County.
8.4 A surety bond given by a corporate surety authorized to do business in the State of
Colorado in an amount equivalent to One-Hundred percent (100%)of the value of
the improvements as specified in the Improvements Agreement.
8.5 A cash deposit made with the County equivalent to One-Hundred percent(100%)of
the value of the improvements.
9.0 Request for Release of Collateral: Prior to release of collateral for the entire project or for a
portion of the project by Weld County,the Applicant must present a Statement of Substantial
Compliance from an Engineer registered in 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 Schedule for minimum materials sampling,testing and
inspections found in the Colorado Department of Transportation(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.
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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 paragraphs 9.0 thru 9.5 shall be noted on the final construction
plans.
9.7 Following the submittal of the Statement of Substantial Compliance and
recommendation of approval of the streets by the County, the applicant(s) may
request release of the collateral for the project or portion of the project by the Board.
This action will be taken at a regularly scheduled public meeting of the Board.
9.8 The request for release of collateral shall be accompanied by"Warranty Collateral"in
the amount of fifteen percent (15%)of the value of the improvements as shown in
this Agreement excluding improvements fully accepted for maintenance by the
responsible governmental entity, special district or utility company.
9.9 The warranty collateral shall be released to the applicant upon final approval by the
Board of County Commissioners.
10.0 Public Sites and Open Spaces: When the Board of County Commissioners, pursuant to a
rezoning, Subdivision or Planned Unit Development,requires the dedication, development
and/or reservation of areas or sites other than Subdivision or Planned Unit Development
streets and utility easements of a character, extent and location suitable for public use for
parks, greenbelts or schools, said actions shall be secured in accordance with one of the
following alternatives,or as specified in the Planned Unit Development(PUD)Plan,if any:
10.1 The required acreage as may be determined according to the Weld County
Subdivision Regulations shall be dedicated to the County or the appropriate school
district,for one of the above purposes. Any area so dedicated shall be maintained by
the County or school district.
10.2 The required acreage as determined according to Chapter 24 of the Weld County
Code, may be reserved through deed restrictions as open area, the maintenance of
which shall be a specific obligation in the deed of each lot within the Subdivision or
Planned Unit Development.
10.3 In lieu of land,the County may require a payment to the County in an amount equal
to the market value at the time of Final Plat submission of the required acreage as
determined according to Chapter 24 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.
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IN WITNESS WHEREOF,the parties hereto have caused this Agreement to be executed on the day
and year first above written.
APPLICANT:
1
APPLICANT: Xi/41
J
TITLE: 4 .a.
Subscribed and sworn to before me this .2) day of YY)a,�,rji> ,2005.
My Commission expires: CSacla J G2 ohipt,�eil
Notary Public
nil CV/iiiJ t20, a oP
la
ATTEST:�� ,._/./ _t:'• I .+Sv• BOARD OF COUNTY COMMISSIONERS
" 1 ,I '•N WELD COUNTY,COLORADO
fentee• IWeld County Clerk to thj
%*. ` William H. Jerke
l> t. �� Chair 06/01/2005
Deputy Clerk to the Boar 41144; ,,,
,... -7- ..,
APPROVED AS TO FORM:
County Attorney
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C:'DOCUMENTS AND SETTINGS\PSCHEI\DESKTOMPRIVATE IMPROVEMENTS AGREEMENT.DOC
adds-/d /g
EXHIBIT "A"
Name of Subdivision ,�yI ,,f._
or Planned Unit Development_ V f i /_1_? 1 1�� Fs±i_��
Filing �/ c Tit,-7I , / C ,O h n
Location: /V r�L _ /e C=_&_1__�`1_��._! v L L� _7�0 lU t 1,L -9j. /t d 4
Intending to be legally bound, the undersigned Applicant hereby agrees to provide throughout this Subdivision or
Planned Unit Development the following improvements. (Leave spaces blank where they do not apply)
Improvements Ouantity Units Unit Estimated Construction
Costs csS
Site grading
Street grading 3 c Cb nes J.cc• 3 pc o
Street base L/ // 2,c cc re/VS .7 i� / Li cc C
Street paving
Curbs,gutters,and culverts
Sidewalk
vG
Storm sewer facilities T L
�4 s, /2c L < 3c.oc / ,Tri
Retention ponds %/r I. c r
S. G
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(includes bore) " 3,Sc:c. L ,C //p. ct- C. i.cc
Fire hydrants 3 1_ 20<4 `e e c
Survey and street monuments and boxes �-F
Street lighting
Street Names 7 Ea /Sedge.-- / t p
Fencing requirements p
Landscaping )rne�rrat KA.:444t7 Ate- - - 2 35o, /c
Park improvements
Road culvert 2 4 " / e144, L /= 3C-, €e c
Grass lined swale
Telephone
Gas La �.Cc- Cr
t,� Pc c
Electric
24-1ac
Water transfer �Gc
Bus S.{a -sn-
ynee. /,'C/A 2°C'
5r(e; _ / sc
Engineering and Supervision Costs$ ,S 0 e•
(Testing,inspection,as-built plans and work in addition to preliminary and final plat;supervision of actual construction
by contractors)
TOTAL ESTLMATED COST OF LMPROVEMENTS AND SUPERVISION $ // 37, 5 £B
tc—
The above improvements shall be constructed in accordance with all County regdireme3 [sta?3.o,specifications, and
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conformance with this provision shall be determined solely by Weld County,or its duly authorized agent.
Said improvements shall be completed according to the construction schedule set out in Exhib it"B."
7-41 -E±142.)
1±D /
Applicant
plicant
�' Ltf'T✓x'� Date: ' / ,20 C .)—
Title
(If corporation,to be signed by President and attested to by Secretary,together with corporate seal.)
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EXHIBIT "B"
Name of Subdivision
or Planned Unit Development 1` ,f L_ r
Filing _ 77
Location: �� ri C j,R 1
1!/- 6 2e pc/C/2 c� 4
Intending to be legally bound,the undersigned Applicant hereby agrees to provide throughout this Subdivision or
Planned Unit Development the following improvements.
All improvements shall be completed within ( years from the date of approval of the final plat Construction
of the improvements listed in Exhibit"A"shall be completed as follows:
(Leave spaces blank where they do not apply.)
Improvements Time for Completion
t- grading pr 2.37, 2
J
Street base A o
Street paving 41,4y/
Curbs,gutters,and culverts
Sidewalk
Storm sewer facilities
Retention ponds / rI?v A.1) 3 J Z o r, I-
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 /
Fire hydrants
Survey and street monuments and boxes 7s. /S J
Street lighting
Street name signs / 2,
Fencing requirements
Landscaping
Park improvements
Road culvert , MAY/fir-/ 2 G d�
Grass lined swale
Telephone 1-ktox If ZGas
Electric 74ii" ‹c/ 2— 'r
Water Transfer N ti �`� Z r
SUB-TOTAL:
1111111 Hill 11111 1111111 lii 1111111 11111 III 1111111111111
3298586 06/29/2005 11:55A Weld County, CO
11 of 12 R 0.00 D 0.00 Steve Moreno Clerk& Recorder
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.
Yin , y 4 a��Applicant
�(ny ✓
Applicant
"CZ-a-7—Y" Date: _, 20G'
Title
(If corporation,to be signed by President and attested to by Secretary,together with corporate seal.)
I I"III VIII VIII IIIIIII III Id VIII III IIIIII III III
3298586 06/29/2005 11:55A Weld County, CO
12 of 12 R 0.00 0 0.00 Steve Moreno Clerk& Recorder
Il
FROM : GB CARLSON FAX NO. : 3038148214 Apr. 26 2005 09:03RM P2
Prairie R idge Estates
MF-1053
Landscape Estimate
for
Entryway Median
1--- Three 2" trunk size Russian Hawthorne trees @ $279.00 $837.00
2--- Fourteen Spreading Junipers @ $30.00 $420.00
3--- Nine Russian Sage @ $30.00 $270.00
4--- Twentyfive tons Western River Rock @ $3295 $823.75
$2350.75
+ 4'r
C �,tl} I
R rrbY'$
NEW FRONTIER BANK
IRREVOCBLE LETTER OF CREDIT NO. 299
April 14, 2005
Board of County Commissioners
ATTN: Clerk to the Board
P.O. Box 758
Greeley, Co. 80634
RE: GEORGE B. CARLSON AND MARY F. CARLSON
PRAIRIE RIDGE ESTATES
To Whom it May Concern:
We hereby open our Irrevocable Letter of Credit in your favor for the account of George
B. Carlson and Mary F. Carlson, 7561 Kelty Trail, Franktown, Co. 80116, for a sum
not to exceed the aggregate of One Hundred Thirty Seven Thousand, Seven Hundred
Thirty Dollars and 75/100's ($137,730.75)
Each draft so drawn must be marked"Drawn under NEW FRONTIER BANK, 2425
35TH Avenue, Greeley, Co. 80634, Letter of Credit No. 299 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 PRAIRIE RIDGE
ESTATES dated the 21st day of March, 2005 by and between George B. Carlson and
Mary F. Carlson 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. 400.
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, NEW
FRONTIER BANK, 2425 35th Avenue, Greeley, Co. This letter of credit will expire on
April 14, 2006 at 4:00 P.M.
2425 35th Avenue • Greeley, Colorado 80634 • 970-339-5100 • Fax 970-339-5200
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 NEW FRONTIER 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 NEW
FRONTIER 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 NEW FRONTIER BANK the Letter of Credit No. 299 will not be renewed and
that George B. Carlson and Mary F. Carlson has failed to provide proof of adequate
collateral and substitution of this Letter of Credit No. 299; (c) copy of letter from NEW
FRONTIER BANK stating non-renewal of Letter of Credit No. 299 and the original
letter of credit.
You s truly,
Trzy
Greg Bell
Sr. Vice President
FDIC
Federal Deposit Insurance Corporation
1601 Bryan Street,Dallas,TX 75201 Division of Resolutions and Receiverships
July 21, 2009
CERTIFIED MAIL
RETURN RECEIPT REQUESTED S74(RECEIPT NO. 7OO7 07/0 coal
Agtel Board of County Commissioners,
Weld County
ATTN: Clerk to the Board
P.O. Box 758
Greeley, CO 80634
Subject: 10050—New Frontier Bank
Greeley, CO—In Receivership
Closing Date: April 10,2009
Claims Bar Date: 90 Days From the Date of this Letter
Irrevocable Letter of Credit No. 299
Dear Sir or Madam:
The above-captioned institution (the "Institution") was closed on the Closing Date
referenced above and the Federal Deposit Insurance Corporation was appointed as receiver of the
Institution (the "Receiver"). Under the laws of the United States, the Receiver is charged with
the duty of winding up the affairs of the Institution. In order to achieve this goal,the Receiver is
given the right under 12 U.S.C. Section 1821(e) to repudiate undertakings entered into by the
Institution where it finds such undertakings to be burdensome and where such repudiation will
promote the orderly administration of the Institution's affairs.
The Institution's records indicate that you may be a beneficiary of a letter of credit as
referenced above. The Receiver has determined that the above-described letter of credit is
burdensome and that disaffirmance of said letter of credit will promote the orderly administration
of the Institution's affairs. The purpose of this letter is to inform you that the Receiver has
elected to disaffirm the above-referenced letter of credit to the full extent, if any, that it
represents an enforceable obligation of the Institution or the Receiver.
You may determine that the Receiver's decision to disaffirm your letter of credit gives you a
claim against the receivership estate. If so, you must file a Proof of Claim in writing, together with
proof thereof, by the Claims Bar Date referenced in the caption hereof. Under federal law,with
certain limited exceptions, failure to file claims by the Claims Bar Date will result in
disallowance by the Receiver, the disallowance will be final, and further rights or remedies
with regard to claims will be barred. A Proof of Claim form may be obtained by calling 1-888-
206-4662 or visiting www.fdic.gov.
jfi& /71
coos ,2 24
If you have any further questions concerning the claims process, you may direct your
inquiry to Bart Jones at 90-339-5100 ext. 414.
Federal Deposit Insurance Corporation
as Receiver of New Frontier Bank
, 1417
By: GirY Siebenforcher G
Title: Post Closing Asset Manager
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