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HomeMy WebLinkAbout20052121.tiff RESOLUTION RE: APPROVE IMPROVEMENTS AGREEMENT ACCORDING TO POLICY REGARDING COLLATERAL FOR IMPROVEMENTS(PRIVATE ROAD MAINTENANCE),AUTHORIZE CHAIR TO SIGN,AND ACCEPT COLLATERAL FOR PLANNED UNIT DEVELOPMENT FINAL PLAN, PF #1020 -WAKE, LLLP, C/O CLIFFORD CLIFT AND PAUL CLIFT 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 30, 2005, approved a Planned Unit Development Final Plan, PF#1020,for Wake, LLLP,do Clifford Clift and Paul Clift,2001 Fern Avenue, Greeley, Colorado 80631,for 22 residential lots and 32 acres of common open space on the following described real estate, to-wit: Lot 15C, Fourth Replat of Gilbaugh's Appaloosa Acres; being part of the W1/2 of the SW1/4 of Section 33,Township 7 North, Range 65 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 Wake, LLLP,do Clifford Clift and Paul Clift,with terms and conditions being as stated in said agreement, and WHEREAS, the Board has been presented with Irrevocable Letter of Credit #305 from Centennial Bank of the West, 2700 47th Avenue, Greeley, Colorado 80634, in the amount of $260,076.45, 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 Wake, LLLP,do Clifford Clift and Paul Clift, be, and hereby is, approved. BE IT FURTHER RESOLVED that Irrevocable Letter of Credit#305 from Centennial Bank of the West, 2700 47th Avenue, Greeley, Colorado 80634, in the amount of$260,076.45, be and hereby is, accepted. 2005-2121 PL1245 l 0 : l L , (;)//0, /fit /t-9L� F�Cc ra 6r-0&-63-- IMPROVEMENTS AGREEMENT - WAKE, LLLP, C/O CLIFFORD CLIFT AND PAUL CLIFT PAGE 2 The above and foregoing Resolution was,on motion duly made and seconded,adopted by the following vote on the 27th day of July, A.D., 2005. BOARD OF COUNTY COMMISSIONERS Eilna WELD COUNTY, COLORADO DO�tail EXCUSED 1861 x,�"t�� Li �/ 4 William H. J , Chair • C Clerk to the Board 0.4. /Ors y silt 2-#2/7 -1A � ,1 / M , Pro-Te �'g , to the di Deputy Clerk to the Board � j id E Long APPR�ED \I /� i Robert/D. asde ounty Attor ey GI nn Vaad / — - Date of signature: 01-- 2005-2121 PL1245 CENTENNIAL Bank of the West IRREVOCABLE LETTER OF CREDIT #305 June 30, 2005 Clerk to The Board of Trustees Weld County 915 10th Street Greeley, CO 80631 Re: Lot 15C, 4th Replat of Gilbaugh's Appaloosa Acres Appaloosa Acres Estates Subdivision, County Roads 74 & 41, Eaton, CO Dear Sir: The Centennial Bank of the West, 2700 47th Avenue, Greeley, CO 80634, hereby authorizes Weld County (Beneficiary)to draw on us for the above referenced account, up to an aggregate total of TWO HUNDRED SIXTY THOUSAND, SEVENTY SIX AND 45/100 DOLLARS ($260,076.45), such amount not available except by your drafts at sight, accompanied by written certification by the Beneficiary that "Weld County has declared a default under the Improvements Agreement executed by, and between the developers; Palo Verde Center LLC, Clifford Clift, and Paul Clift, and Weld County". We hereby further agree that: (a) Drafts drawn under, and in compliance with the terms of this Irrevocable Letter of Credit will be duly honored if presented at our office at 2700 47th Avenue, Greeley, CO 80634, on or before the expiration hereof. This Letter of Credit shall expire either on the date the Beneficiary, Weld County, releases the final 15%requirement, or one (1) year after the date of final approval of the Subdivision by the Beneficiary, Weld County, whichever occurs first. In any event, this Letter of Credit shall not expire until after the Beneficiary has received sixty (60) days advance notice, sent by certified mail to the Clerk of the Board, of the pending expiration. (b) Funds available under this Irrevocable Letter of Credit may be drawn by the Developer, or by the Beneficiary, to meet costs for work specifically identified in the Improvements Agreement,provided that the amount drawn shall not exceed the aggregate amount specified herein. Centennial Bank of the West agrees that 15% of the total Letter of Credit amount cannot be drawn upon by the Developer and will remain available only to the Beneficiary, until released by the Beneficiary. 2005-2121 2700 47th Ave.•Greeley,CO 80634•Bus:970-454.4151 •Fax:970-454-4159•cjeavons@centennialbanks.com IRREVOCABLE LETTER OF CREDIT #305 Weld County—June 30, 2005 Page 2. (c) The amount of any draft drawn hereunder must be endorsed on the reverse side hereof. (d) All drafts must be marked"Drawn under Irrevocable Letter of Credit#305, Appaloosa Acres Subdivision" and be accompanied by this original Letter of Credit. Dated this 30th day of June, 2005. CENTENNIAL BANK OF THE WEST rl9,“A I\ istopher W. Jeavons Regional President 2700 47`h Ave.•Greeley,CO 80634•Bus:970-454-4151 •Fax:970-454-4159•cjeavons@centennialbanks.com CENTENNIAL Bank of the West IRREVOCABLE LETTER OF CREDIT #305 June 30, 2005 Clerk to The Board of Trustees Weld County 915 10th Street Greeley, CO 80631 Re: Lot 15C, 4th Replat of Gilbaugh's Appaloosa Acres Appaloosa Acres Estates Subdivision, County Roads 74 & 41, Eaton, CO Dear Sir: The Centennial Bank of the West, 2700 47th Avenue, Greeley, CO 80634, hereby authorizes Weld County (Beneficiary) to draw on us for the above referenced account, up to an aggregate total of TWO HUNDRED SIXTY THOUSAND, SEVENTY SIX AND 45/100 DOLLARS ($260,076.45), such amount not available except by your drafts at sight, accompanied by written certification by the Beneficiary that "Weld County has declared a default under the Improvements Agreement executed by, and between the developers; Palo Verde Center LLC, Clifford Clift, and Paul Clift, and Weld County". We hereby further agree that: (a) Drafts drawn under, and in compliance with the terms of this Irrevocable Letter of Credit will be duly honored if presented at our office at 2700 47th Avenue, Greeley, CO 80634, on or before the expiration hereof. This Letter of Credit shall expire either on the date the Beneficiary, Weld County, releases the final 15%requirement, or one (1) year after the date of final approval of the Subdivision by the Beneficiary, Weld County, whichever occurs first. In any event, this Letter of Credit shall not expire until after the Beneficiary has received sixty (60) days advance notice, sent by certified mail to the Clerk of the Board, of the pending expiration. (b) Funds available under this Irrevocable Letter of Credit may be drawn by the Developer, or by the Beneficiary, to meet costs for work specifically identified in the Improvements Agreement, provided that the amount drawn shall not exceed the aggregate amount specified herein. Centennial Bank of the West agrees that 15% of the total Letter of Credit amount cannot be drawn upon by the Developer and will remain available only to the Beneficiary, until released by the Beneficiary. 2700 47th Ave.•Greeley,CO 80634•Bus:970-454-4151 •Fax: 970-454-4159•cjeavons@centennialbanks.com IRREVOCABLE LETTER OF CREDIT #305 Weld County—June 30, 2005 Page 2. (c) The amount of any draft drawn hereunder must be endorsed on the reverse side hereof. (d) All drafts must be marked"Drawn under Irrevocable Letter of Credit#305, Appaloosa Acres Subdivision" and be accompanied by this original Letter of Credit. Dated this 30th day of June, 2005. CENTENNIAL BANK OF THE WEST istopher W. Jeavons Regional President 2700 47`"Ave.•Greeley,CO 80634•Bus:970-454-4151 •Fax:970-454-4159•cjeavons@centennialbanks.com MEMORANDUM . To: Board of County Commissioners COLORADO Date: May 23, 2005 From: Kim Ogle, Planning Manager VJ$ ' Subject: Acceptance of Irrevocable Letter of Credit # 305 Centennial Bank of the West for Appaloosa Acres Estates PUD Case number PF-1020 Clifford and Paul Clift, Applicants The Department of Planning Services received an Irrevocable Letter of Credit# 305 from the Centennial Bank of the West, for Appaloosa Acres Estates PUD, case number PF-1020 in the amount of two hundred sixty thousand seventy-six (260,076.00) dollars and 45/100s. Items covered under this Escrow Agreement include: Site Grading Autumn 2005 $ 3,600.00 Street Grading Autumn 2005 $ 8,100.00 Street Paving and Base Winter 2005 $ 69,120.00 Storm Sewer Facilities Autumn 2005 $ 22,783.00 Retention Ponds Winter 2005 $ 27,550.00 Street Name Signs Spring 2006 $ 658.45 Fencing Requirements Spring 2006 $ 30,596.00 Landscape and Irrigation Spring 2006 $ 24,083.00 Road Culvert Autumn 2005 $ 2896.00 Road Culvert Autumn 2005 $ 1690.00 Site Utilities: Telephone, Gas and Electric Autumn 2005 $ 49,000.00 School Bus Shelter Spring 2006 $ 10,000.00 Sub-Total: $ 250,076.45 Engineering and Supervision $ 10,000.00 Total Estimated Cost of Improvements and Supervision $ 260,076.45 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 Appaloosa Acres Estates PUD, and the Department of Planning Services recommends acceptance of this Escrow Agreement.. M:\wpfles\ogle\kim\collateral\PF 1020.wpd SERVICE,TEAMWORK,INTEGRITY,QUALITY CENTENNIAL Bank of the West IRREVOCABLE LETTER OF CREDIT #305 June 30, 2005 Clerk to The Board of Trustees Weld County 915 10th Street Greeley, CO 80631 Re: Lot 15C, 4th Replat of Gilbaugh's Appaloosa Acres Appaloosa Acres Estates Subdivision, County Roads 74 & 41, Eaton, CO Dear Sir: The Centennial Bank of the West, 2700 47th Avenue, Greeley, CO 80634, hereby authorizes Weld County (Beneficiary)to draw on us for the above referenced account, up to an aggregate total of TWO HUNDRED SIXTY THOUSAND, SEVENTY SIX AND 45/100 DOLLARS ($260,076.45), such amount not available except by your drafts at sight, accompanied by written certification by the Beneficiary that "Weld County has declared a default under the Improvements Agreement executed by, and between the developers; Palo Verde Center LLC, Clifford Clift, and Paul Clift, and Weld County". We hereby further agree that: (a) Drafts drawn under, and in compliance with the terms of this Irrevocable Letter of Credit will be duly honored if presented at our office at 2700 47th Avenue, Greeley, CO 80634, on or before the expiration hereof. This Letter of Credit shall expire either on the date the Beneficiary, Weld County, releases the final 15%requirement, or one (I) year after the date of final approval of the Subdivision by the Beneficiary, Weld County, whichever occurs first. In any event, this Letter of Credit shall not expire until after the Beneficiary has received sixty (60) days advance notice, sent by certified mail to the Clerk of the Board, of the pending expiration. (b) Funds available under this Irrevocable Letter of Credit may be drawn by the Developer, or by the Beneficiary, to meet costs for work specifically identified in the Improvements Agreement, provided that the amount drawn shall not exceed the aggregate amount specified herein. Centennial Bank of the West agrees that 15% of the total Letter of Credit amount cannot be drawn upon by the Developer and will remain available only to the Beneficiary, until released by the Beneficiary. 2700 471h Ave.•Greeley,CO 80634•Bus:970-454-4151 •Fax:970-454-4159•cjeavons@centennialbanIcscom IRREVOCABLE LETTER OF CREDIT #305 Weld County—June 30, 2005 Page 2. (c) The amount of any draft drawn hereunder must be endorsed on the reverse side hereof. (d) All drafts must be marked "Drawn under Irrevocable Letter of Credit#305, Appaloosa Acres Subdivision" and be accompanied by this original Letter of Credit. Dated this 30th day of June, 2005. CENTENNIAL BANK OF THE WEST B stopher W. Jeavons Regional President 2700 47Th Ave.•Greeley,CO 80634•Bus:970-454-4151 •Fax:970-454-4159•cjeavons@centennialbanks.com 6j IMPROVEMENTS AGREEMENT ACCORDING TO POLICY REGARDING COLLATERAL FOR IMPROVEMENTS (PUBLIC ROAD MAINTENANCE) THIS AGREEMENT,made and entered into thisa7 lay of -SAL., , 20r3Sby and between the County of Weld, Sta e of Colorado, acting through its Board of �2ounty Commissioners, hereinafter called"County,@ and 9/,o ySRbt Ge v-7.9 / LC. ,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: WHEREAS,a final Subdivision/Planned Unit Development(PUD)Plat of said property,to be known as 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: 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. 1.3 Applicant shall furnish drawings and cost estimates for roads within the Subdivision or Planned Unit Development to the County for approval prior to the letting of any construction contract. Before acceptance of the roads within the Subdivision or Planned Unit Development by the County, Applicant shall furnish one set of Hill lllll VIII Flinn llil DINE III HIE It I'll Revised 03/09/2004 ESKTOP\PUBLIC IMPROVEMENTS AGREEMENT.DOC 1 o 3f6 08/04/2005 14 R 0.00 D 0.00 Steve Moreno o Clerk& Recorder 0?DD5-a/a/ 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. 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 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 ABC upon application by the Applicant subject to the terms of Section 6 herein. 4.0 Release of Liability: Applicant shall indemnify and hold harmless the County from any and all liability loss and damage County may suffer as a result of all suits, actions or claims of IIIIII VIII VIII VIII VIII IIII IIIIIIII III I'll' IIII I'll ;I\DESKTOP\PUBLIC IMPROVEMENTS AGRevised 03/09/2004 REEMENT.DOC 3309662 08/04/2005 12:20P Weld County, CO 2 of 14 R 0.00 0 0.00 Steve Moreno Clerk& Recorder 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 Commissioners. - A time period for completion of the off-site improvements. The terms of reimbursement. - The current address of the person to be reimbursed during the term of the agreement. - Any off-site improvements agreement shall be made in conformance with the Weld County policy on collateral for improvements. 5.3 If the subdivider, applicant, or owner fails to comply with the improvements agreement, the opportunity to obtain reimbursement under this section is forfeited. 5.4 When it is determined by the Board of County Commissioners that vehicular traffic from a Subdivision, Resubdivision, or Planned Unit Development will use a road improvement constructed under an improvements agreement, the subsequent subdivider,applicant,or owner shall reimburse the original subdivider,applicant,or owner, for a portion of the original construction cost. In no event shall the original subdivider, applicant, or owner collect an amount which exceeds the total cost of IIIIII VIII VIII VIII VIII IIII IIIIIIII MINIM IIII Revised 03/09/2004 DESKTOP\PUBLIC IMPROVEMENTS ACREEMENT.ENT.DOCOC 3309662 08/04/2005 12:20P Weld County, CO 3 of 14 R 0.00 D 0.00 Steve Moreno Clerk& Recorder 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 may be paid by cash contribution to the prior subdivider, applicant or owner, or by further road improvements which benefit the prior subdivider, applicant, or owner's property. This decision shall be at the sole discretion of the Board of County Commissioners based upon the need for further off-site road improvements. 5.6 The report entitled 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. 5.7 The term for which the subdivider,applicant,or owner is entitled to reimbursement under the off-site improvements agreement,entered into between the subdivider and the County, is ten years from the date of execution of a contract for road improvements. 5.8 This provision is not intended to create any cause of action against Weld County or its officers or employees by any subdivider,applicant,or owner for reimbursement, and in no way is Weld County to be considered a guarantor of the monies to be reimbursed by the subsequent subdividers,applicants,or owners. 6.0 Acceptance of Streets for Maintenance by the County: Upon compliance with the following procedures by the Applicant,streets within a Subdivision or Planned Unit Development may be accepted by the County as a part of the County road system and will be maintained and repaired by the County. 6.1 If desired by the County,portions of street improvements may be placed in service when completed according to the schedule shown on Exhibit AB,@ but such use and operation shall not constitute an acceptance of said portions. 6.2 County may, at its option,issue building permits for construction on lots for which street improvements detailed herein have been started but not completed as shown on Exhibit AB,@ and may continue to issue building permits so long as the progress of AU' IIIiI VIII VIII VIII IIII IIIlilll III VIII IIII IIII HEI\DESKTOP\PUBLIC IMPROVEMENTS ARevised 03/09/2004 GREEMENT.DOC 3309662 08/04/2005 12:20P Weld County, CO 4 of 14 R 0.00 D 0.00 Steve Moreno Clerk& Recorder 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 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 estimatesfor the remaining improvements are updated and collateral is provided in the amount of One-Hundred percent (100%) of the value of the improvements remaining to be completed. If improvements are not completed and the agreement not renewed within these time frames, the County, at its discretion, may make demand on all or a portion of the collateral and take steps to see that the improvements are made. 7.2 The applicant may choose to provide for a phased development by means of designating filings of a Planned Unit Development Final Plan or Subdivision Final Plan. The applicant would need only to provide collateral for the improvements in each filing as approved. The County will place restrictions on those portions of the property that are not covered by collateral which will prohibit the conveyance of the property or the issuance of building permits until collateral is provided or until Mill I'll/ lit IIIII (IIII IIII Inn III HIE Ell MI I\DESKTOP\PUBLIC IMPROVEMENTS ACRevised 03/09/2004 REEMENT.DOC 3309662 08/04/2005 12:20P Weld County, CO 5 of 14 R 0.00 D 0.00 Steve Moreno Clerk& Recorder 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 Improvements Guarantee: The five types of collateral listed below are acceptable to Weld County subject to final approval by the Board of County Commissioners. 8.1 An irrevocable Letter of Credit from a Federal or State licensed financial institution on a form approved by Weld County. The Letter of Credit shall state at least the following: 8.1.1 The Letter of Credit shall be in an amount equivalent to One-Hundred percent(100%)of the total value of the improvements as set forth in Section 6.0 and Exhibits 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. 8.1.4 The issuer of the Letter of Credit shall guarantee that, at all times, the unreleased portion of the Letter of Credit shall be equal to a minimum of One-Hundred percent (100%) of the estimated costs of completing the uncompleted portions of the required improvements,based on inspections of the development by the issuer. In no case shall disbursement for a general improvement item exceed the cost estimate in the Improvements Agreement (i.e., streets, sewers, water mains and landscaping, etc.). The issuer of the Letter of Credit will sign the Improvements Agreement acknowledging the agreement and its cost estimates. 8.1.5 The Letter of Credit shall specify that fifteen percent (15%) of the total Letter of Credit amount cannot be drawn upon and will remain available to Weld County until released by Weld County. 8.1.6 The Letter of Credit shall specify that the date of proposed expiration of the Letter of Credit shall be either the date of release by Weld County of the final fifteen percent(15%),or one year from the date of Final Plat approval, whichever occurs first. Said letter shall stipulate that, in any event, the Letter of Credit shall remain in full force and effect until after the Board has received sixty(60)days written notice from the issuer of the Letter of Credit I IIIIII IIIII IIIII MEIII III ILIUM Jill Revised 03/09/2004 :SKTOP\PUBLIC IMPROVEMENTS ACREEMENT.DOC 3309662 08/04/2005 12:20P Weld County, CO 6 of 14 R 0.00 0 0.00 Steve Moreno Clerk& Recorder 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: 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. 1 111111 11111 11111 11111 11111 1111 11111111 I I 111111 1111 HI I I 3309662 08/04/2005 12:20P Weld County, CO 7 of 14 R 0.00 D 0.00 Steve Moreno Clerk& Recorder Revised 03/09/2004 C:\DOCUMENTS AND SETTINGS\PS7CHEI\DESKTOP\PUBLIC IMPROVEMENTS AGREEMENT.DOC 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, the applicant(s)may request release of the collateral for the project or portion of the project by the Board. This action will be taken at a regularly scheduled public meeting of the Board. 9.8 The request for release of collateral shall be accompanied by"Warranty Collateral"in the amount of fifteen percent (15%) of the value of the improvements as shown in this Agreement excluding improvements fully accepted for maintenance by the responsible governmental entity, special district or utility company. 9.9 The warranty collateral shall be released to the applicant upon final acceptance by the Board of County Commissioners for full maintenance under Section 5.3 herein. 10.0 Public Sites and Open Spaces: When the Board of County Commissioners, pursuant to a rezoning, Subdivision or Planned Unit Development,requires the dedication,development and/or reservation of areas or sites other than Subdivision or Planned Unit Development Hill VIII IIIIi lllll lllll IIII Illillll III VIII IIII IIII EI\DESKTOP\PUBLIC IMPROVEMENTS AGRevised 03/09/2004 REEMENT.DOC 3309662 08/04/2005 12:20P Weld County, CO 8 of 14 R 0.00 D 0.00 Steve Moreno Clerk& Recorder 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. APPLICANT: Pah U? i t.4L 1 L APPLICANT: .w TITLE: pa rilo t,y Art,- / p A Subscribed and S WI M.before n1 is day of (a ,206E. i • My Commission :tr, O�: 7Y/Q4 Ofiliti II •_ .. ��. N tow Public MYCcnmssion EsPOS21t3 1111111 11111 IIIII 111111111111011111111 III 1111111111111 3309662 08/04/2005 12:20P Weld County, CO 9 of 14 R 0.00 D 0.00 Steve Moreno Clerk& Recorder q Revised 03/09/2004 C:\DOCUMENTS AND SETTINGS\PSCHEI\DESKTOP\PUBLIC IMPROVEMENTS AGREEMENT.DOC //ka% BOARD OF COUNTY COMMISSIONERS 4,2 WELD COUNTY, C ORADO t 1861 ct�1Q =, i2%2Gei \9J V* Clerk to the Board M. J. le ,Chair Protein� � JUL 2 7 2005 BY: eputy Clerk to the Board APPROVED AS TO FORM: County Attorney THE IIIII 111111111111111111111111111 III HMI III IIII 3309662 08/04/2005 12:20P Weld County, CO 10 of 14 R 0.00 D 0.00 Steve Moreno Clerk& Recorder Revised 03/09/2004 C:\DOCUMENTS AND SETTINGS\P HEI\DESKTOP\PUBLIC IMPROVEMENTS AGREEMENT.DOC 6'2oa5 -a/a EXHIBIT "A" Name of Subdivision or Planned Unit Development P� •�? �./,.7 1.-) 7 r'/c'.9 5 t s 7 'J i t Filing: .. /`..,G) 4 Location: /;.�S; IC 74 € /� C /lr`/ / ..4 n, 4/t' (tVt ,/1 )r Intending to be legally bound, the undersigned Applicant hereby agrees to provide throughout this Subdivision or Planned Unit Development the following improvements. (Leave spaces blank where they do not apply) Improvements Quantity Units Unit Estimated Construction Costs Cost Site grading t Street grading (r0C c cr ¢/®O Street base Street paving _ l0 174- r11 s F/; 12 0 Curbs,gutters,and culverts / Sidewalk CaV FL.F/'fa4^re -5cs �A+- s.5 ria49-1 '/5920 Storm sewer fac 'ties(521•10(4 -Kid h'k/0-/ouo/;e F •73 .3`—' Retention ponds 3 /IWWO C: * 7 S5`- Ditch Improvements rt/`/4 Subsurface drainage ,m/hi Sanitary sewers .v/A Trunk and forced lines nj/J Mains y/rt Laterals(house connected) ylq On-site sewage facilities ,./9 Qn-site water supply and storage ,a/1 Water Mains(includes bore) c p-T Fire hydrants FXSA P-r Survey and street monuments and boxes / Street lighting /1/74 {�yt� Street Names- 5?0P 5 t6M✓r - 1s- -s f' �/� itS Fencing requirements 249di- 4'/tr£ Thor'- 4$tc.'( 7a'.?Aos. 4s'f 7`;" 4,0 s'9& Landscaping is l6?Yc;J flit /44,o% 16124,2)83 , ‘1. Park improvements Ai AI Road culvert 2.1",..k ) • are 2g.m'ed *40 V6 (:ra,c c"a cm?t !C�' /i. 4v/F ♦. (4yD,.,. �/P£ Telephone t Sze, Gas r •S-L'mp.' Electric y J�jd9D 9 Water transfer SUB-TOTAL: #„Q 40,076.43 1:'(tit R ct5 s-regc- t Qk )2 v /0 a,0076 •'r S.Engineering and Supervision Costs$ f G pa � . (Testing,inspection,as-built plans and work in addition to preliminary and final plat;supervision of actual construction by contractors) TOTAL ESTIMATED COST OF IMPROVEMENTS AND SUPERVISION $ ,,7aO,,U76 s+s The above improvements shall be constructed in accordance with all County requirements and specifications, and INHUME IIIJI 11111 1111 111111II III 111111 III 1111 3309662 08/04/2005 12:20P Weld County, CO 11 of 14 R 0.00 D 0.00 Steve Moreno Clerk& Recorder 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 shall be completed according to the construction schedule set out in Exhibit AB.@ By: Applicant Applica � Date: 7- / ,20(9 V. Tie aGCe:�isC� (If corporation,to be/ signed by President and attested to by Secretary,together with corporate seal.) 111111111111111111111111111 111111111111 I I 1111111 111 3309662 08/04/2005 12:20P Weld County, CO 12 of 14 R 0.00 D 0.00 Steve Moreno Clerk& Recorder 12 Revised 03/09/2004 C:\DOCUMENTS AND SETTINGS\PSCHEI\DESKTOP\PUBLIC IMPROVEMENTS AGREEMENT.DOC EXHIBIT"B" Name of Subdivision QQ or Planned Unit Development: /4>V )9/ C SA /Tc/CSC e€S DES) hip Filing. A•Location: / 12 Ala ill-. &4r g eO tA4.39 ty_ !)Coe 7'/ fr G_c-.y ielly 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 Site grading / fhb,y- sliS Street base (i, rgtod7iYS Street paving 6 PlQw y-1f,S Cr ' gutters, and culverts iiH,QeATg/S Sidewalk Storm sewer facilities Retention ponds nthsrNS Ditch improvements Subsurface drainage Sanitary sewers Trunk and forced lines Mains Laterals(house connected) On-site sewage facilities On-site water supply and storage -. #5 Water mains 4 Att y,7 5 Fire hydrants j1®/ 1( Survey and street monuments and boxes 8 N0.4"7"its Street lighting Street name signs 4g 410.4•70k Fencing requirements 6/.�.5 At t 47 f≤ Landscaping `-t m n.y n c Park improvements Road culvert Al owrr/S Grass lined swale H Telephone S mph 5 Gas me r 115 Electric $ .UL Cs')'11$ Water Transfer SUB-TOTAL: 1111111 1111 111 11111 11111 1111 IIIII'II III 111111 III IIII 3309662 08/04/2005 12:20P Weld County, CO 13 of 14 R 0.00 D 0.00 Steve Moreno Clerk& Recorder 13 Revised 03/09/2004 CADOCUMENTS AND SETTINGS\PSCREI\DESKTOPUPUBLIC 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. GA Ele e�'C� alAt dLiC Applicant - pil.yeAn- lican Date: f A2 , 20 4AS Title (If corporation,to be signed by President and attested to by Secretary,together with corporate seal.) 111111 11111 11111 IIIII 111111111111111II III 111111 III 1111 3309662 08/04/2005 12:20P Weld County, CO 14 of 14 R 0.00 0 0.00 Steve Moreno Clerk& Recorder 14 Revised 03/09/2004 C:\DOCUMENTS AND SETTINGS\PSCHEI\DESKTOP\PUBLIC IMPROVEMENTS AGREEMENT.DOC Forest Floor Page 1 of 1 Kim Ogle From: Peter Schei Sent: Tuesday, May 03, 2005 8:33 AM To: Kim Ogle Subject: PF-1020 Appaloosa Acres Estates PUD Importance: High 03-May-2005. Good Morning, Kim: .1 am trying to catch up with my subdivision work... An 'Exhibit A' for an improvements agreement was found on my desk for PF-l02Q Appaloosa Acres..Estates If this exhibit has not been approved previously, please note that Public Works finds this exhibit acceptable for the on-site improvements. Please go ahead and schedule it for a hearing with the BOCC, acceptance and recording. Thank you. Have a good week, Peter. Peter SCHEI,P.E.,N.S.P.E. Public Works Department Weld County • I l t l-H Street Greeley,CO K0,32 Aych rtir,'ro.w td,cg.,us "Making the County a better place to do business" "Making the County a better place to live" 05/03/2005 March 22, 2005 TO: Peter Schei, P.E. Weld County Public Works FM: Clifford and Paul Clift RE: PZ-1020 Appaloosa Acres Estates, PUD Exhibit A Dear Peter, I have included a new and revised "Exhibit A" for your information. Please call me if this is not okay or if it is. Thank you in advance for your time. Clifford Clift Weld County Planning Department GREELEY OFFICE tilgt TH MEMORANDUM APR 2 2 2005 RECEIVED TO: Kim Ogle, Planning Manager DATE: 15-April-2005 W�ik FROM: Keith Meyer, P.E., Public Works Department COLORADO SUBJECT: PF-1020 Appaloosa Acres Estates PUD(Final Plat) 3 Weld County Public Works Department has received an additional request for the final plan and has the following development referral comments. Comments ❑ Per discussions with the Board of County Commissioners on April 11, 2005, the Department of Public Works is requesting that CR 74 be recognized as requiring a 140-foot of right-of-way. The original right-of-way reservation/dedication request was done without regard to the strategic road corridor transportation plan. As such, please take the appropriate steps to document additional right-of-way on the final plat. Recommendation ❑ Shown above. The Planning Department may proceed with this case based upon the above recommendation,with no restrictions by Public Works.' *PC: PF-1020 Appaloosa Acres Estates PUD(Final Plat)3 Email&Original:Planner PC by Post: Applicant PC by Post: Engineer Page 1 of 1 m, Weld County Planning Department GREELEY OFFICE ricfse 06.......), MEMORANDUM MAY 1 2 2005 RECEIVED TO: Kim Ogle, Planning Manage . 1 DATE: 12-May-2005 W� C FROM: Peter Schei, P E , Publi epartment COLORADO SUBJECT: PF-1020 Appaloosa Acres Estates PUD(Final Plat)4 Weld County Public Works Department has received an additional request for the final plan and has the following development referral comments. Comments ❑ Per discussions with the Engineering Manager on May 11, 2005, the Department of Public Works is requesting that the speed bumps be removed from the internal roadway construction plans of Appaloosa Acres Estates PUD. ❑ To rectify the problem, a plan sheet revision will be necessary to eliminate any confusion and must be submitted to the Public Works Department. ❑ Clifford Clift (applicant) and Jasper Freese, P.E (engineer of record) will be contacted by Public Works to discuss this adjustment. Recommendation ❑ The above comments are prerequisites and shall be fulfilled prior to final construction of the internal roadway. Any issues shall be resolved with Public Works prior to final construction of the internal roadway.* •PC:PF-1020 Appaloosa Acres Estates P01)(Final Plat)4 Email&Original: Planner PC by Post: Applicant:Clifford Cliff PC by I'ost: Engineer:Jasper Freese,P.E. Page 1 of 1 Rim A Lawn and Landscape Ccjntract The total bid for this job is: $30,596.00 payment as follows: Amount of first payment of: $15,000.00 due prior to work commencement knal amount $15,596.00 due upon completion. Note: Cutomer is responsible for reading and understanding the terms and conditions sheet at time of signing contract. Please read the terms and conditions sheet carefully and discuss with us any questions you might have. Signature: Date: Company president: 0ti440,ii its. Date: :SVC- vj b 'd b916.-QEE-046 AJQ[0 RoJj vgb :LO SO LO Jdli At5pas, _Ass, Lawn and Landscape TO: Clifford Clift FROM: Troy Clark DATE: April 3, 2005 RE: Itemized list for landscape installation at Appaloosa Acres Estates We propose to furnish materials and labor necessary for the completion of: • 1: Automatic irrigation system per landscape plan specifications b. Estimated 9,000 feet of (1) inch PVC pipe for mainline and lateral lines including all adapters, filter and glue b. (8) valve boxes c. (7) solar rain clocks d. (7) pressure regulators e. 1500 feet of 3/4 inch drip irrigation tubing including stakes and 1 gallon per hour emitters I 'd 4916-OEE-OL6 *)1JQI7 Roil e64 :L0 SO LO Jdu • 2: Trees and shrubs as specified per landscape plans a. Soil amendment to planting area, planting labor, delivery, taxes and tree staking is included in cost b. The following planting materials will be used or an appropriate substitute: -(18) Austrian Pines: 4-6 feet in height $6252.00 -(2) Patmore Ash: 2 inch caliper $776.00 -(6) Russian Hawthorn: 1 1/2 inch caliper $2006.00 -(1) Skyline Honeylocust: 2 inch caliper $373.00 -(50) Siberian Pea Shrubs:5 gallon containers $1975.00 -(9) Jackmann Potentilla: 5 gallon containers $301.50 -(10) Rabbitbrush: 5 gallon containers $335.00 -(5) Redleaf Rose: 5 gallon containers $167.50 We propose to provide all labor and materials for completion of the following: Subtotal 1: (Irrigation system) $11,897.00 Subtotal 2: (Plants) $12,186.00 •d b9I6-OEE-OL6 ROJJ, ebb :LO SO LO JdU Conditions: • If will be the responsibility of the owner or representative to have all underground utilities, including drain lines, septic systems and anything else that may be damaged. clearly marked by a worker of the respective company involved. For your convience, call the Utility Notification Center of Colorado (1-800-922-1987) to have all utilities marked for free. If you have a septic system, the location will be marked on your properties plat. Please,give a current copy to Krew Cufs Lawn & Landscape. If this is not done prior to starting date, any damage to the above will be the responsibility of the owner or representative. Alf landscape construction shall be guaranteed for a peiod of one year from installation. Guarantee shall cover labor and materials but shall not cover normal reactions of materials such as fine cracks in concrete Products or "checking" or warping of wood products. Krew Cuts Lawn & Landscape assumes no responsibility for services provided by others. No verbal agreements expressed or implied will be honored. All agreements must be in writing. Delinquent payment voids the guarantee. All work requires a down payment of one-half of the final contract amount. All work is to be fully paid upon reciept of an invoice (i.e. net Upon completion). In the event any or all of the amount due under this contract must be collected by or through an attorney, purchaser hereby agrees to pay all attorney's fees, costs on other charges involved in collecting the amount due. Scope: We shall furnish all materials, tools, equipment, and labor necessary to execute the installation shown in the provided landscape design. Workmanship: All operations shall be completed in a substantial and 6 •d b9I6-O€C-066 1IJ@T'1 ROJ I Pea. n cn I n ,a., Page 1 of 1 Carol Harding From: Kim Ogle Sent: Tuesday, May 24, 2005 2:53 PM To: Carol Harding Subject: RE: appropriate language for Letters of Credit .... Good suggestion. thank you From: Carol Harding Sent: Tuesday, May 24, 2005 2:03 PM To: Kim Ogle Subject: RE: appropriate language for Letters of Credit .... I think it would be better to state the Letter of Credit is automatically renewable for additional one year periods, unless sixty day's notice is provided to Weld County prior to said expiration date. Otherwise, you'll end up on May 10, 2007, without any collateral if the project has not been totally finished. Carol From: Kim Ogle Sent: Tuesday, May 24, 2005 1:51 PM To: Lee Morrison; Carol Harding Subject: appropriate language for Letters of Credit .... Centennial Bank of the West shall provide a minimum of sixty day notice to Weld County Government prior to expiration date of May 10, 2006. Should notice not be provided sixty day prior, the Letter of Credit will automatically renew for one additional calendar year. How does this language sound? Thank you in advance for your comments and suggestions Kim 5/24/2005 Hello