HomeMy WebLinkAbout20053549.tiff RESOLUTION
RE: APPROVE IMPROVEMENTS AGREEMENT ACCORDING TO POLICY REGARDING
COLLATERALFOR IMPROVEMENTS(PRIVATE ROAD MAINTENANCE),AUTHORIZE
CHAIR TO SIGN, AND ACCEPT COLLATERAL FOR MINOR SUBDIVISION FINAL
PLAN, MF #1060 - GARY AND JUDY HARKLESS
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 September 14,2005,the Board of County Commissioners approved a Minor
Subdivision Final Plan,MF#1060,for Gary and Judy Harkless,33439 Weld County Road 37,Eaton,
Colorado 80615, for a Nine(9) Residential Lots with E (Estate)Zone Uses, to be known as Faith
Estates, on the following described real estate, to-wit:
Lot B of Recorded Exemption#2641; being part of the
SE1/4 of Section 13, Township 6 North, Range 66
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 Gary and Judy Harkless,with terms and conditions
being as stated in said agreement, and
WHEREAS,the Board has been presented with Irrevocable Letter of Credit No. 1 from
Advantage Bank, 1801 59th Avenue,Greeley,Colorado 80634, in the amount of$231,805.00,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 Gary and Judy Harkless,be,and
hereby is, approved.
BE IT FURTHER RESOLVED that Irrevocable Letter of Credit No. 1 from Advantage Bank,
1801 59th Avenue, Greeley, Colorado 80634, in the amount of$231,805.00, be and hereby is,
accepted.
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00 I FL, ft 1 � Cc.+� PL1766 L1766
IMPROVEMENTS AGREEMENT- GARY AND JUDY HARKLESS
PAGE 2
The above and foregoing Resolution was,on motion duly made and seconded,adopted by
the following vote on the 5th day of December, A.D., 2005.
BOARD OF COUNTY COMMISSIONERS
E 4,4% WELD COUNTY, COLORADO
ATTEST:L 1Q0 '/ 7 .r' � ✓ ,`L
illiam H. J: ke, Chair
Weld County Clerk to the
Z M. J. e, ro-Tem
Deputy • erk to the *ard
Day' E. Long 1
APP ED AS TO-F \\\\4)
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Date of signature: It)/7-/05
2005-3549
PL1766
*'ito MEMORANDUM
wi c TO: Board of County Commissioners 12/1/2005
COLORADO FROM: Chris Gathman - Planner II C
SUBJECT: Acceptance of Collateral for MF-1060 (Faith Estates - Harkless)
On November 23, 2005 the Department of Planning Services received collateral in the form of a
Irrevocable Letter of Credit (No. 1) in the amount of ($231,805.00) for MF-1060 (Faith Estates).
Collateral covered the following items:
Site Grading estimate $ 7,500.00
Street Grading estimate $ 31,500.00
Storm Sewer Facilities estimate $ 750.00
Retention Ponds estimate $ 19,250.00
Ditch Improvements estimate $ 6,875.00
Subsurface Drainage estimate $ 2,000.00
Water Mains estimate $ 114,000.00
Fire Hydrants estimate $ 12,000.00
Street name signs estimate $ 260.00
Road Culvert estimate $ 4,950.00
Telephone estimate $ 1,800.00
Electric estimate $ 25,920.00
Engineering and Supervision Costs estimate $ 5,000.00
Total Estimated Cost of Improvements and supervision $ 231,805.00
The improvements agreement and collateral has been reviewed by the Departments of Planning
Services and Public Works and it has been determined that the amount of collateral is sufficient
to cover the proposed improvements. The Departments of Planning Services and Public Works
recommend acceptance of this collateral.
SERVICE,TEAMWORK,INTEGRITY,QUALITY
2005-3549
-pz_ /74
554
IMPROVEMENTS AGREEMENT ACCORDING TO
POLICY REGARDING COLLATERAL FOR IMPROVEMENTS
(PRIVATE ROAD MAINTENANCE)
THIS AGREEMENT,made and entered into this 23 day of June ,20"05 , by and
between the County of Weld, State of Colorado, acting through its Board of County Commissioners, hereinafter called
"County"and Gary M. and Judy L. Harkless 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:
Lot B of RE 2641, located in the Southeast Quarter of Section 13, Township
6 North, Range 66 West of the 6th P.M. , Weld County, Colorado.
WHEREAS,a Final Subdivision or Planned Unit Development(PUD) plat of said property,to be known as
Faith Estates Subdivision has been submitted to the County for approval,and
WHEREAS, relevant Weld County Ordinances 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"A"and"B"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"A,"which is attached hereto and incorporated herein by reference.
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d1.1 The required engineering services shall be performed by a Professional Engineer and Land
cc Surveyor registered in the State of Colorado, and shall conform to the standards and criteria
—e ea established by the County for public improvements.
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c 1.2 The required engineering services shall consist of, but not be limited to, surveys, designs,
aplans and profiles, estimates, construction supervision, and the submission of necessary
--a o documents to the County.
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1.3 Applicant shall furnish drawings and cost estimates for roads within the Subdivision or
w y 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
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o statement of construction cost to the County.
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o 2.0 Rights-of-Way and Easements: Before commencing the construction of any improvements herein
04 c agreed upon, Applicant shall acquire, at its own expense, good and sufficient rights-of-way and
�u•C o easements on all lands and facilities traversed by the proposed improvements.
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3.0 Construction: Applicant shall furnish and install, at its own expense, the Subdivision or Planned Unit
Development improvements listed on Exhibit"A,"which is attached hereto and incorporated herein by
reference, according to the construction schedule set out in Exhibit "B" 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.
Wherever 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
be 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 fumish 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 "B."
The Board of County Commissioners, at its option, may grant an extension of the time of
completion shown on Exhibit "B" 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 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 negligences 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 of Planned Unit Development.
111111111111 111111111111111111111111111 III 11111 1111
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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"B," 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"B,"
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 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 streets as public but with private pay.
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 fmal 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
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E amount of One-Hundred percent (100%) of the value of the improvements remaining to be
dcompleted If improvements are not completed and the agreement not renewed within these
cc time frames, the County, at its discretion, may make demand on all or a portion of the
imm etc collateral and take steps to see that the improvements are made.
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_ =V 7.2 The applicant may choose to provide for a phased development by means of designating
$ d filings of a Planned Unit Development Final Plat or Subdivision Final Plat. The applicant
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--o o would need only to provide collateral for the improvements in each filing as approved. The
3 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
y permits until collateral is provided or until improvements are in place and approved pursuant
o c to the requirements for a Request for Release of Collateral.
o c 7.3 The applicant intends to develop in accordance with Exhibits"A"and B.rn 0 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.
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8.1 An irrevocable Letter of Credit from a Federal of 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%)if the total value of the improvements as set forth in Section 6.0 and Exhibits
"A"and"B."
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 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
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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
is cc the value of the property encumbered in its current degree of development is
-o Y sufficient to cover One-Hundred percent(100%) of the cost of the improvements as
misd set forth in the Improvements Agreement plus all costs of sale of the property
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-`e' 8.2.2 In the event property other than the property to be developed has been accepted as
- o c collateral by Weld County,then an appraisal is required of the property by a Member
min�3z of the Institute of Real Estate Appraisers (M.A.I.) indicating that the value of the
4.1 property encumbered in its current state of development is sufficient to cover One-
MEM N y Hundred percent (100%) of the cost of the improvements as set forth in the
�-o Improvements Agreement plus all costs of sale of the property.
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- 0 8.2.3 A title insurance policy insuring that the Trust Deed creates a valid encumbrance
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Nwhich is senior to all other liens and encumbrances.
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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 of 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.
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9.4 The Statements of Substantial Compliance must be accompanied, if appropriate, by a letter of
c CI acceptance of maintenance and responsibility by the appropriate utility company, special
— o g district or town for any utilities.
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3 9.5 A letter must be submitted from the appropriate Fire Authority indicating the fire hydrants are
aa in place in accordance with the approved plans. The letter shall indicate if the fire hydrants
N H are operational and state the results of fire flow tests.
0 9.6 The requirements in paragraphs 9.0 thru 9.5 shall be noted on the final construction plans.
� o imme o 9.7 Following the submittal of the Statement of Substantial Compliance and recommendation of
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g approval of the streets by the County, the applicant(s)may request release of the collateral for
r 6 the project or portion of the project by the Board. This action will be taken at a regularly
scheduled public meeting of the Board.
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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 a 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 the Weld County Subdivision Ordinance,
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 the Weld County Subdivision Ordinance. 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.
I IIIIII VIII VIII VIII VIII VIII IIIIIII III IIIII IIII III!
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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:
X � i/ 1
APPLICANT: ( . . .NC( U ,'
TITLE: La t)Li✓tt
Subscribed and sworn to before me this 2-734 day of VL9. 20 Al,t Il rt,
My Commisson Expires: -1/ 31 ( LC)
AMR
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Nrtary ublic
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BOARD OF COUNTY COMMISSIONERS`�• x�
40ra.101c^4n`COUNTY,COLORADO
William H. Jerke, Chair
f186t t*% 2a
i 12/05/2005
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NcuNi
ATTEST: il a0Oe . /�:
Weld County Clerk to the Board �"
BY: 4l 1 Vall ( 616-n4
D uty Cle to the Board
APPROV AS TO FO
Cou Attorney
I111111 11111 11111 11111 11111 11111 1111111 III 111111111 IIII
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EXHIBIT"A"
Name of Subdivision or Planned Unit Development: Faith Estates Subdivision
Filing: First Filing
Location: Lot B of RE 2641, located in the Southeast Quarter of Section 13,
Township 6 North, Range 66 West of the 6th P.M. , Weld County, Colorado.
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).
Estimated
Improvements Unit Unit Cost Construction Cost
Site grading
Street grading 6,000 Sq.Yd. $ 1.25 $ 7,500
Street base 2,800 tons $ 11.25 31,500
Street paving
Curbs, gutters,and culverts
Sidewalk
Storm sewer facilities 1 L.S. $ 750.00 750
Retention ponds 7,000 Cu.Yd. $ 2.75 $ 19,250
Ditch improvements 2,500 Cu.Yd. $ 2.75 $ 6,875
Subsurface drainage 100 T. F. $ 20.00 $ 2,000
Sanitary sewers
Trunk and forced lines
Mains
Laterals(house connected)
On-site sewage facilities
On-site water supply and storage
Water mains(includes bore) 3,800 L.F. $ 30.00 $114,000
Firehydrants 4 each $3000.00 $ 12,000
Survey and street monuments and boxes
Street lighting
Street name signs $ 260
Fencing requirements
Landscaping
Park improvements
Road culvert 110 L.F. $ 45.00 $ 4,950
Grass lined swale
Telephone 2,100 L.F. $ 0.86 $ 1,800
Gas
Electric 9 per lot $2880.00 $ 25,920
Water transfer
SUB-TOTAL
Engineering and Supervision Costs $ 5,000
111111111111 11111 11111 11111 /1/11 1111111 111 111111111 1111
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(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$ 231,805
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 authorized agent.
Said improvements shal)))be co I Ited according to the construction schedule set out in Exhibit"B."
By:
Applic t r_ .✓�
Appli ant
Lo.3n4. 0+I AC r
Title
Date --..\—LU 'k z 3 , 20 b
(If corporation,to be signed by President and attested to by Secretary, together with corporate seal.)
HBO V111111111111I Ban BIB III VIIIIIIIIIII
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EXHIBIT "B"
Name of Subdivision or Planned Unit Development: Faith Estates Subdivision
Filing: First Filing
Location: Lot B of RE 2641, located in the Souteast Quarter of Section 13,
Township 6 North, Range 66 West of the 6th Y.M. , Weld County, Colorado.
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 two 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 Dec. 2005
Street grading Dec. 2005
Street base Dec. 2005
Street paving
Curbs, gutters, and culverts
Sidewalk
Storm sewer facilities Dec. 2005
Retention ponds Dec. 2005
Ditch improvements Dec_. 2005
Subsurface drainage
Sanitary sewers
Trunk and forced lines
Mains
Laterals(house connected)
On-site sewage facilities
$ On-site water supple and storage Dec. 2005
c Water mains Dec. 2005
▪o Y Fire hydrants Dec. 2005
, Survey and street monuments and boxes
c" Street lighting
CDd Street name signs Dec. 2005
Li Fencing requirements
4) Landscaping
a) Park improvements
a
Nen Road culvert Dec. 2005
N
▪o g Grass lined swale
6 Telephone Dec. 2005
o Gas Dec. 2005
" Electric Dec. 2005
Water Transfer Dec. 2005
'mum,- SUB-TOTAL:
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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:
Applicant
,(O1./1/4/-- ,A. .Att2 tela,
Appli ant
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3347584 12/15/2005 02:22P Weld County, CO
11 of 11 R 0.00 D 0.00 Steve Moreno Clerk& Recorder
S:\I03_County\Colorado\Weld County\Templates&Forms\Improvements Agreement-(On-Site)collateral-Private Road.doc Page I I of i i
VA Advantage Bank
IRREVOCABLE LETTER OF CREDIT NO. 1
November 18,2005
Board of County Commissioners
ATTN:Clerk to the Board
P.O.Box 758
Greeley,CO 80632
RE:National Vision Development,Inc.
Dear: Board of County Commissioners
We hereby open our Irrevocable Letter of Credit in your favor for the account of National Vision Development, Inc.,
33439 Weld County Road 37,Eaton,CO 80615,for a sum not to exceed the aggregate of 231,805.00. (Two Hundred
Thirty One Thousand Eight Hundred and Five Dollars).
Each draft so drawn must be marked"Drawn under ADVANTAGE BANK, 1801 59TH Avenue, Greeley,CO 80634.,
Letter of Credit No. 1 and be accompanied by a"signed statement from the Board of County Commissioners of Weld
County, Colorado stating the National Vision Development,Inc.has committed a material breach of the Improvements
Agreement According to Policy Regarding collateral for Improvements regarding Faith Estates dated the 18th day of
November,2005 by and between National Vision Development and the Board of County Commissioners of the County of
Weld."
This credit is subject, so far as applicable, to "The Uniform Customs and Practice for Documentary Credits, 1993
Revision,The International Chamber of Commerce Publication No. 500."
We hereby agree with you that all drafts drawn under and in compliance with the terms of this credit will be duly honored
and presented for payment to our main office,ADVANTAGE BANK, 1801 59th Avenue,Greeley,CO 80634. This letter
of credit will expire on November 20,2006 at 5:00 P.M.
This letter of credit is automatically extended without amendment, for additional one year periods from the cunent
expiration or any future expiration date unless 60 days prior to such current expiration date ADVANTAGE 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 ADVANTAGE 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 •
ADVANTAGE BANK the Letter of Credit No. 1 will not be renewed and that National Vision Development, Inc. has
failed to provide proof of adequate collateral and substitution of this Letter of Credit No. 1 ;(c)copy of letter from
ADVANTAGE BANK stating non-renewal of Letter of Credit No._l and the original letter of credit.
Yours truly,4750
Paul C. Edens, III
Senior Vice President
Advantage Bank
1801 59th Avenue 970.353.0047
Greeley,CO 80634 Fax 970.353.0433
advantagebanks.com
Sean Phipps
From: Chris Gathman [cgathman@co.weld.co.us]
Sent: Thursday, September 29, 2005 1:42 PM
To: Sean Phipps
Subject: (03-066) FW: MF-1060; Improvemants Agreement
Sean,
Here is the signoff from Public Works on the improvements agreement for Faith Estates.
Chris
From: Robert Jacobs
sent: Thursday, September 29, 2005 1:29 PM
To: Chris Gathman
Cc: Peter Schei
Subject: MF-1060; Improvements Agreement
Chris;
We have reviewed the improvements agreement, and find no change from the agreement that
we accepted per our referral comments dated August 5, 2005. The agreement is therefore still
considered acceptable. Please let us know if there is some change from the original that we may
have missed. Public Works has still not received the following items required prior to our final "sign-
off':
• Final Drainage report, re-submitted and stamped, signed, and dated per our final plan referral
comments
• Final Roadway/Construction/Grading Plan drawings re-submitted and stamped, signed, and
dated per our final plan referral comments, and
• Three (3) additional sets of final roadway, drainage, and utility/construction drawings (also
stamped, signed, and dated) for our field inspectors.
We will provide you with documentation of our"final sign-off' when we have received, reviewed,
and accepted all of these items. If you have any further requirements, questions, or concerns for
Public Works,please feel free to contact us at your convenience.
Thank You,
Robert Lewis Jacobs, E.I.
Engineer I
Weld County, Department of Public Works
1111 H St., Weld County, CO, 80632
ph: 970.356.4000.x3743
rjacobs@co.weld.co.us
11/7/2005
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