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Home My WebLink About20053681.tiff 709 RESOLUTION RE: APPROVE PARTIAL CANCELLATION AND RELEASE OF COLLATERAL FOR NESTING CRANE RANCH - STENERSON, OLSON AND LOWRY DEVELOPMENT, LLC WHEREAS,the Board of County Commissioners of Weld County, Colorado, pursuant to Colorado statute and the Weld County Home Rule Charter, is vested with the authority of administering the affairs of Weld County, Colorado, and WHEREAS,by Resolution dated May 11, 2005, the Board approved the application of Stenerson, Olson and Lowrey Development, LLC, 3040 South Newcombe Way, Lakewood, Colorado 80227,for a Planned Unit Development Final Plan, PF#1000,on the following described real estate, to wit: W1/2 W1/2 NE1/4 of Section 30, Township 3 North Range 68 West of the 6th P.M., Weld County, Colorado, and WHEREAS, on June 15, 2005, the Board of County Commissioner of Weld County, Colorado, approved an Improvements Agreement According to Policy Regarding Collateral for Improvements(Public Road Maintenance)for Nesting Crane Ranch,between the County of Weld, State of Colorado, by and through the Board of County Commissioners of Weld County, and Stenerson,Olson and Lowrey Development, LLC,with terms and conditions being as stated in said agreement, and accepted Irrevocable Standby Letter of Credit No. CTCS-639261, drawn on the JP Morgan Chase Bank, N.A., c/o JP Morgan Treasury Services, Global Trade Services, 10420 Highland Manor Drive, Tampa, Florida 33610, in the amount of$445,139.00, and WHEREAS,on November 21,2005,the Board released Irrevocable Standby Letter of Credit No.CTCS-639261,drawn on the JP Morgan Chase Bank, N.A.,c/o JP Morgan Treasury Services, in the amount of$445,139.00, and accepted replacement collateral,in the form of Check#1133 on the account of Stenerson,Olson and Lowrey Development, LLC, in the amount of$108,991.81,for the above mentioned Improvements Agreement. WHEREAS,at the request of the property owner,staff from the Weld County Departments of Planning Services and Public Works has conducted visual inspections and recommends partial release of said collateral, and WHEREAS,funds to cover the remaining items to be completed will be retained, in the amount of$16,891.00. NOW,THEREFORE,BE IT RESOLVED by the Board of County Commissioners of Weld County,Colorado,that$92,100.81,on the account of Stenerson,Olson and Lowrey Development, LLC, be, and hereby is, canceled and released. 111111111111IIIII111111 SHE rill III 11111IIII ��I 3356709 01/23/2006 02:12P Weld County, CO 1 of 2 R 0.00 D 0.00 Steve Moreno Clerk& Recorder 2005-3681 PL1740 PARTIAL CANCEL COLLATERAL-STENERSON,OLSON AND LOWRY DEVELOPMENT,LLC PAGE 2 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. The above and foregoing Resolution was,on motion duly made and seconded,adopted by the following vote on the 21st day of December, A.D., 2005. BOARD OF COUNTY COMMISSIONERS ELa ELD COUNTY, COLORADO O\ � ATTEST: iLdi _ � nn..^' illiam H. rke, Chair Weld County Clerk to the B Ris Oda, ��t `• M. eile, ro-Tem BY. A'u 1 Vow� eputy erk to the QOard D E. Long AP AS T / VV� Rob t D. Mas en ounty Attorney Glenn Vaad Date of signature: iI21o( 1 111111 111111111111I I I!111111111111 I I 11111111111111 3356709 01/23/2006 02:12P Weld County, CO 2 of 2 R 0.00 D 0.00 Steve Moreno Clerk& Recorder 2005-3681 PL1740 DEC-19-2005 MON 10:48 AM SOUTHWEST WELD PLANNING FAX NO, 720 652 4211 P. 02 MEMORANDUM TO: Board of County Commissioners December 19, 2005 Eat COLORADO FROM: Jacqueline Hatch • SUBJECT: PF-1000, Nesting Crane Ranch PUD The applicant for PF-1000, Stenerson, Olson & Lowry Development LLC do Jeff Olson has submitted the attached letter dated December 6, 2005, The applicant is requesting that the remaining collateral be released. Stenerson, Olson & Lowry Development LLC will provide a cash collateral for the paving warranty In the amount of ten thousand and six hundred and thirty six dollars ($10,636.00). The Final PUD (PF-1000) was accepted by the Board of County Commissioners on May 11, 2005 The original Improvements Agreement in the amount of four hundred forty five thousand, one hundred and thirty nine dollars ($445,139.00) was approved by the Board of County Commissioners on May 11, 2005. A partial release of collateral was approved on November 21, 2005 retaining one hundred and eight thousand, nine hundred and ninety one dollars and eighty one cents ($108,991.81) to complete the work on site and 15% for a paving warranty. The Department of Planning Services conducted a site visit for compliance and finds that the site is partially in compliance with the recorded plat. Staff Is recommending that the request for a full release of collateral for one hundred and eight thousand, nine hundred and ninety one dollars and eighty one cents ($108,991.81)be denied at this time. Staff is In support of a partial release of collateral in the amount of ninety two thousand and one hundred dollars and eighty one cents ($92,100.81) for the items that have been completed on site (utilities). The Department of Planning Services request that the remaining collateral in the amount of sixteen thousand eight hundred and ninety one dollars ($16,891.00) be retained this amount includes the cash collateral for ten thousand and six hundred and thirty six dollars ($10,636.00)as a paving warranty. Thank you • 2005-3681 PLnti0 DEC-19-2005 MON 10:48 AM SOUTHWEST WELD PLANNING FAX NO. 720 652 4211 P. 03 Stenerson, Olson & Lowrey Development, LLC 30405.Newcombe Way Lakewood CO 80227 303 619-0590 office 303 987-0260 fax Partial:Releaae of Collateral To: Board of Commissioners,Weld County Colorado Peter Schei,Public Works Tracy Dyer,Public Works Jacqueline Hatch Weld County Planner From: Stenerson,Olson&Lowrey Development,LLC Jeffrey Olson: Managing Member;S.O.L.Dew,LLC Wayne Wentworth,P.E. Colorado State Registered Engineer RE: PF-1000 Nesting Crane Ranch PUD Release of Collateral Date 12-06-05 Stenerson,Olson&Lowrey,Development,LLC,owners of PF-1000 Nesting Crane Ranch PUD, hereby formally requests a MI release of collateral,with exception of the Paving Warranty,according to the policy regarding collateral for improvements_ I am submitting before you the following criteria that will allow for a release of collateral. Please review the criteria presented and in your findings please refund the cash collateral of$108,991.81 At said time, Stenerson,Olson&Lowrey will provide cash oollateral for the Paving Wananty in the amount of$10,635.00 to be held for one year. All supporting documentation is held by your Public Works Department. At this time they are supporting the Release based on their findings of the supporting documentation. Improvements Agreement According to Policy Regarding Collateral for Improvements Request for Release of Collateral: Statement of substantial Compliance has been submitted by Wayne Wentworth,P.E. a Colorado State Registered Engineer. See Public Works Documentation 9.1 Wayne Wentworth made frequent inspections during the construction phase. 9.2 Terracon completed all necessary field testing. See Public Works Documentation 9.3 "As Built"plans have been submitted by Wayne Wentworth,P.E. Sec Public Works Documentation 9.4 Statement of Substantial Compliance regarding public road maintenance, Peter Schei,Public Works,Weld County,Colorado. See Public Works Docu.=!ntion 9.5 • Mt View Fire Protection Letter indication of fire hydrants.See Public Works Documentation 9.6 Sections 9.0 thru 9.5 shall be noted on the final construction plans. 9.7 Please place this request on regularly scheduled public meeting held by the county commissioners. 9.8 "Warranty Collateral" (15%)will be provided at the time of the final release. 9.9 Warranty Collateral shall be released upon final acceptance by the Board of County Commissioners, Thank you for your prompt consideration in this matter. Needless to say,all contractors that have completed their work,to their fullest responsibility,are waiting impatiently for their wages. Please Initiate this request at your earliest convenience. Jeff Olson Stenorsery Olson&Lowrey,Dev.,LLC, Managing Member DEC-19-2005 HON 10:49 AM SOUTHWEST WELD PLANNING FAX NO. 720 652 4211 P. 04 AXAVv A 4.ae je Rowe, rake. LIEN. WAVER RELEASE • tractor) • romac Pfl3C WATER DTSTRICT (hereinafter referred to as "the Owner") • DESCRIPTION or won: Re-Cot e for 'I„ Zt t * a �' n511 k n S)y SUBCONTRACTOR: 1-.ccr4$ (A tirkk .. 44,'nQl;y,g. r . 1. The undersigned doe! hereby release all claims, Mechanic's Liens Rights, Miller Act Claims (40 USCA 270) . Stop Notice. Equitable Liens and Labor and Material Bond Rights resulting from labor and/or materials, subcontract work, equipment or other work, rents, Services or supplies heretofore furnished in and for the construction, design, improvement, alteration, additions to or repair of the above described Work. 2. This release is given for and in consideration of the sum of $ _ and other good and valuable consideration. If no dollar consideration is herein recite—is acknowledged that other adequate consideration has been received by the undersigned for this release. 3. In further consideration of the Payment made or to be made as above set forth, and to induce the contractor to make said payment, the undersigned agree: to defend and hold harmless the Owner and lender, if any, and Surety from any claims hereinafter made by the undersigned or its Suppliers, Subcontractors or employees, servants, agents or assigns of such persons against the Work. The undersigned agrees to indemnify or reimburse all persons so relying upon this release for any and all sums, including attorney's fees and costs, which may be incurred as the result of any such claims. 4, It is acknowledged that the designation of the above Work constitutes an adequate description of the property and improvements for which the undersigned has received consideration for this release. 5. It is further warranted and represented that all such claims against the undersigned or the u(tdersigned's Subcontractors or material suppliers have been paid or that arrangements, satisfactory to the Owner and Contractor have been made for such payments. 6- It is acknowledged that this release is for the benefit of and may be .called upon by the Owner, the Contractor, the lender, if any, and the principal and surety on any Performance and Payment bonds for the work. 1. In addition to the foregoing, this instrument shall constitute a ***(full, final and complete)••*(partial) release of all rights, claims, and demands of the undersigned against the owner, Contractor, or surety arising out of or pertaining to the above refere yi por . If p r ie , all rripll�sand claims on the work are released up to and including this/,(11/Il ►n ay of 2 Dated this ln'b day of kuNao mi.ly r 20115. , .�SUBCONTRA�7CTOR:" )��'�£yol�A�CK��`s,�Y: %/,!A TITLE: !/4tgga.[ se STATE OF: 0r)/11P4 dl7 ) ss. COUNTY OF: L o O rA ) The foregoing release was subscribed and swarm before me this 3j eday of All(:, 20� by j.kart3 /'�fN 1tc.ChyCe(�1 (as • of i`ocr(n�bl Rnrklvti�`pt4)ie,1u , 41OTARY PUBLICLinel. d p� \\\ ,ry commission expires: llup, 2 7tcj . ' I Page 'raga V �\G ',n ix 108 to LPWD Bylaws 1 of 1 ,F O a`o icies and Regulations DEC-19-2005 MON 10:49 AM SOUTHWEST WELD PLANNING FAX NO. 720 652 4211 P. 05 Page 1of1 Jacqueline Hatch From: Joan Hartman[JoanH@UnitedPower.com] Sent Thursday, December 15,2005 10:58 AM To: Jacqueline Hatch Cc: Jeff©lstFundingSource.com': Bill Meier Subject: Nesting Crane Ranch Subdivision To Whom It May Concern: Electrical facilities construction for Nesting Crane Ranch (United Power Work Order 2506-016)was completed approximately 11/29/05. The developer has met all United Power requirements. Joan Hartman Assistant to District Representative 303.637.13340 303-637-1305(fax) 12/15/2005 DEC-19-2005 MON 10:49 AM SOUTHWEST WELD PLANNING FAX NO, 720 652 4211 P. 06 Page 1 of 1 • Jacqueline Hatch From: Myke Weis lmweis@UnfedPower.coml Sent: Wednesday,December 14,2005 3:58 PM To: Jacqueline Hatch Cc: Jeffrey O. Olson My name is Myke Weis Jam the Construction Supervisor at United Power Inc. I am smelling you on behalf of Jeffery Olsen, letting you know all construction for electric facilities at Nesting Crane located on Hwy 08 i WCR 3 is complete ....Thank you, Myke Wels 12/14/2005 DEC-19-2005 MON 10:49 AM SOUTHWEST WELD PLANNING FAX NO. 720 652 4211 P. 07 Jacqueline Hatch From: Jacqueline Hatch Sent: Monday, December 19,2005 8:34 AM To: Jacqueline Hatch Subject: FW: Nesting Crane Ranch-Request Forwarded message from Cathy.Mourhess®gwest.com Date: Thu, 15 Dec 2005 16:39:50 -0600 From: "Mourhess, Cathy" <Cathy.Mourheelgweat.com> Reply-To: "Mourhess, Cathy" <Cathy.Mourhesefwest.eom> Subject: Nesting Crane Ranch To: jhatch®co.weld.co.us.com To whom it may concern, The cable and peds have been placed inside this Nesting Crane Ranch Subdivision to provide service per the ()west LDA contract. Thank you, Cathy Mourhess LDA Coordinator Owen 303-451-4835 End forwarded message • DEC-19-2005 MON 10:50 AM SOUTHWEST WELD PLANNING FAX NO, 720 652 4211 P. 08 Blank Page 1 of 2 Jacqueline Hatch From: Peter Schel Sent: Friday, December 18, 2005 9:13 AM To: Tracy Dyer Cc: Jacqueline Hatch; 'Jeff@1stfundingsource.com' Subject: RE: Nesting Crane Ranch PUD Final Insp, • Good Morning,Tracy: Were there any'last minute' Items he needed to complete beyond the paving .... maybe he is referring to Items that are Planning related(landscaping). I was out at the site a couple (few)weeks ago and spoke with Jeff... at the time he was finishing some Landscaping ... Other than that, things appear to be fine on Public Works side. Thanks for all your work and support, Tracy! Have a great weekend, Peter. • HAPPY HOLIDAYS Pete SOHEI,P.E.,N.S.P.E. Public Works Department Wald Count' 1111.H Strut Oraoloy,CO 80612 ctscP8C1co.weld.co.us 'Malting Ma County a batter place to do business' 'Making the County a batter plum to iivo" From:Tracy Dyer Sent:Tuesday, December 13, 2005 3:13 PM To: Peter Schei Cc: Jacqueline Hatch;Jeif@lstfundingsource.com Subject: Nesting Crane Ranch PUD final Insp. Peter, • Jeff Olson, representing the above mentioned PUD, contacted me last week to request a"final inspection"of the project.A month or so back a request was made for partial completion of this project, if you recall. According to the improvements agreement, Mr. Olsen has complied with his obligations, and I therefore approve this work to the best of my knowledge. A final warranty inspection will occur approximately 10 months from the BOCC approval date of the final Inspection. This is to be requested by the owner at that time. If you have any questions, please let me know. Thanks, Tracy A. Dyer Lead Construction Inspector Weld County Public Works • 12/16/2005 Blank Page 1 of 2 Carol Harding From: Carol Harding Sent: Wednesday, December 14, 2005 8:41 AM To: jeff@lsffundingsource.com' Subject: RE: Nesting Crane Ranch PUD Final Insp.-Final release. Since we recieved the actual funds from you last time (my record shows we are holding $108,991.81 for PF1000), we do not need an additional check. When I process the request, I will simply release the balance of the funds, after retaining the correct amount. We will issue a Weld County warrant to you. Please indicate the name in which it should be issued and confirm the address to which it should be sent. Thanks. Carol From: Jeffrey O. Olson [mailto:jeff@lstfundingsource.com] Sent: Tuesday, December 13, 2005 10:56 PM To: Carol Harding Subject: FW: Nesting Crane Ranch PUD Final Insp.-Final release. Hello, I just wanted to give you a quick message to say that I will be bringing a check to you on Thursday. The check will represent the final warranty collateral needed to be held by the county for one year( $10,635) I assume Jacqueline will be sending you a message as well. Can we handle the transfer of money as we did last time? I will give you a company check and then after the Board Meeting, you will release one form of collateral for the other? Jeff Olson From: Tracy Dyer [mailto:TDyer@co.weld.co.us] Sent: Tuesday, December 13, 2005 3:13 PM To: Peter Schei Cc: Jacqueline Hatch; jeff@lstfundingsource.com Subject: Nesting Crane Ranch PUD Final Insp. Peter, Jeff Olson, representing the above mentioned PUD, contacted me last week to request a"final inspection" of the project. A month or so back a request was made for partial completion of this project, if you recall. According to the improvements agreement, Mr. Olsen has complied with his obligations, and I therefore approve this work to the best of my knowledge. A final warranty inspection will occur approximately 10 months from the BOCC approval date of the final inspection. This is to be requested by the owner at that time. If you have any questions, please let me know. 12/14/2005 Blank Page 2 of 2 Thanks, Tracy A. Dyer Lead Construction Inspector Weld County Public Works 970.590.2577 cell 970.304.6496 office tdyer@co.weld.co.us 12/14/2005 — • • • • s2o2o I •la cou,ty.colorsaa w mini." --'''.4".--I w INVOtcE.NtRNBER .. '.: INVOICE .1NyoICIb ntscotil4f':oR ADDrf10NXl. < N$T E-oi RRFRRENCB J. . >:;:li.e it,. >: :AAMODNT , . ' >-i 1B ::X;eou1NT' i'. AIIXOUNT 2005-3681A 12/21/05 92, 100.81 .00 .00 92, 100.81 0 °' t-1 Nil IJ s c £ fl . II I_J c„,..; I1 '.y • I I �:y • L a'.; • a li a:n + REMOVE DOCUMENT ALONG THIS PERFORATION i • • THIS DOCUMENT IS PRINTED IN TWO C^LOPS.!�o"IOT^CCEPT UNLESS BLUE AND BROWN AR;'?R F1 --1 m . . fl d`If�� d 1 1b I ffi I I I ' L' " I ui l',,.. , ehp„,n gyp a4 l r ww o: •. 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