HomeMy WebLinkAbout20043573.tiff 534
RESOLUTION
RE: APPROVE CANCELLATION AND RELEASE OF COLLATERAL FOR CHANGE OF
ZONE #568, THE SUMMIT AT MOUNTAIN VIEW - DNS DEVELOPMENT, LLC, CIO
DAVID DALGLISH
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 November 15,2002,the Department of Planning Services
staff approved the application of DNS Development, LLC, do David Dalglish, 6025 Fox Hill Drive,
Longmont,Colorado 80501,fora Planned Unit Development Final Plan, PF#568,for The Summit
at Mountain View, on the following described real estate, to wit:
Lot B of Recorded Exemption#2196, being part of the
E1/2 of Section 5,Township 1 North, Range 68 West
of the 6th P.M., Weld County, Colorado, and
WHEREAS, on May 14, 2003, the Board of County Commissioner of Weld County,
Colorado, approved two Improvements Agreements According to Policy Regarding Collateral for
Improvements (Private Road Maintenance and Publicly Maintained Road) for The Summit at
Mountain View,between the County of Weld,State of Colorado,by and through the Board of County
Commissioners of Weld County,and DNS Development, LLC, do David Dalglish,with terms and
conditions being as stated in said agreement, and accepted two Irrevocable Letters of Credit,
#802-7471 and #802-7463, from First Bank of Longmont, 1707 North Main Street, Longmont,
Colorado 80501, in the amount of$15,000.00 and $157,579.00, respectively, and
WHEREAS,the Clerk to the Board received two replacement Letters of Credit#802-7471
and#802-7463,in the amounts of$7,405.00 and$1,500.00,respectively,which were not processed
due to the loss of the appropriate paperwork, and
WHEREAS, staff from the Departments of Planning Services and Public Works has
conducted a visual inspection and recommends full release of said collateral, and
WHEREAS,on December 8,2004,after hearing testimony regarding concern with weeds
on the property,the Board deemed it advisable to continue the matter to December 22,2004,at 9:00
a.m., to determine if all the Conditions of Approval for Change of Zone#568 have been met, and
111111 (IIII III" 111111 IIII 1111111 VIII III (IIII IIII IIII 2004-3573
3256534 01/26/2005 04:28P Weld County, CO PL1596
1 of 2 R 0.00 D 0.00 Steve Moreno Clerk& Recorder
(20
CANCEL COLLATERAL - DNS DEVELOPMENT, LLC, C/O DAVID DALGLISH
PAGE 2
WHEREAS, on December 22, 2004, staff indicated there does not appear to be noxious
weeds on the site and the Conditions of Approval have been satisfied.
NOW,THEREFORE BE IT RESOLVED by the Board of County Commissioners of Weld
County,Colorado,that Irrevocable Letters of Credit,#802-7471 and#802-7463,drawn on First Bank
of Longmont, 1707 North Main Street,Longmont,Colorado 80501, in the amount of$15,000.00 and
$157,579.00, be, and hereby are, canceled and released.
BE IT FURTHER RESOLVED by the Board that the Clerk to the Board be, and hereby is,
directed to return said collateral, along with the replacement Letters of Credit #802-7471 and
#802-7463, in the amounts of$7,405.00 and $1,500.00, respectively, to the appropriate issuing
party.
The above and foregoing Resolution was, on motion duly made and seconded, adopted
by the following vote on the 22nd day of December, A.D., 2004.
BOARD OF COUNTY COMMISSIONERS
T1� WELD COUNTY, COLORADO gdwa%E T
Robert D. Masden, Chair
�� a -I. ' •. _erk to the Board
• ♦ '�'��
' '�/; William H. Jer , Pro-Tem
♦ :1 : �� CG�i� ,
•eputy Clerk to the oard _
M. G6ile
AP ED AS M: 0,vt
David . Long
ounty Attar ey
Glenn Vaad
Date of signature: /07n
1111111111111111 ling 111111111111III11111IIII IIII
3256534 01/26/2005 04:28P Weld County, CO 2004-3573
PL1596
2 of 2 R 0.00 D 0.00 Steve Moreno Clerk& Recorder
Page 1 of 1
Carol Harding
From: Chris Gathman
Sent: Monday, December 06, 2004 4:57 PM
To: Carol Harding
Subject: Collateral for Summit@Mountain View
Carol
FYI:
After consulting with Lee, I will be presenting an amended recommendation to the Board on Wednesday for this.
The homeowners association for the Summit at Mountain View has indicated that the trail through the open space
area was not installed properly. The Homeowners Association is looking to vacate the trail and open space
potentially - per Lee Morrison -we should not release the landscaping portion of the collateral until this has been
addressed. There are no issues with release of the Public Works portion of the collateral dealing with roads.
Chris
12/7/2004
MEMORANDUM
WI I D C
TO: Carol Harding, CDT DATE: December 1, 2004 FROM: Donald Carroll, Engineering Administrator
•
COLORADO SUBJECT: PF-568, The Summit at Mountain View
Final Release of Collateral
I received a letter requesting a final inspection of the Summit at Mountain View PUD site dated
October 9, 2004.
In referring to my last memo dated October 31, 2003, the one year period will expire and an
inspection was needed to determine that no repairs are needed.
Our lead construction inspector, Tracy Dyer, evaluated the site and determined that no distress
or repairs were needed.
The Weld County Public Works Department recommends full release of the transportation
portion of collateral in the amount of $7,405. Summit Way is now accepted on the Weld County
paved road system for full maintenance.
pc: Kim Ogle, Planning Services
Chris Gathman, Planning Services
PF-568
M:\PLANNING-DEVELOPMENT REVIEW\3-Final Plat(PF, MF, MJF)\PF-568.DOC
‘7Dtri MEMORANDUM
Inc TO: Board of County Commissioners 12/6/2004
COLORADO FROM: Chris Gathman, Planner
SUBJECT: Release of Collateral for PF-568 (Summit at Mountain View)
On May 14, 2003, the Board of County Commissioners accepted collateral in the amount of
One-Hundred Fifty-Seven Thousand Five Hundred Seventy-Nine Dollars ($157,579.00) under
letter of credit#157579 for site grading and construction work, paving and street related
improvements, and water, sewer and utility installation and accepted collateral in the
amount of Fifteen-Thousand Dollars ($15,000.00) under letter of credit 8027471 for
landscaping.
Additional collateral dated November 30, 2003 was submitted in the amount of Seven-
Thousand Four-Hundred and Five Dollars ($7,405) under letter of credit#8027463 for
paving items and additional collateral was submitted in the amount of Fifteen-Hundred
Dollars ($1,500) under letter of credit #8027463 for landscaping.
The Departments of Planning Services and Public Works have confirmed that all improvements
have been completed and recommend that all collateral be released.
SERVICE,TEAMWORK,INTEGRITY,QUALITY
MEMORANDUM
TO: Carol Harding, CDT DATE: December 1, 2004
FROM: Donald Carroll, Engineering Administrator
SUBJECT: PF-568, The Summit at Mountain View
Final Release of Collateral
I received a letter requesting a final inspection of the Summit at Mountain View PUD site dated
October 9, 2004.
In referring to my last memo dated October 31, 2003, the one year period will expire and an
inspection was needed to determine that no repairs are needed.
Our lead construction inspector, Tracy Dyer, evaluated the site and determined that no distress
or repairs were needed.
The Weld County Public Works Department recommends full release of the transportation
portion of collateral in the amount of$7,405. Summit Way is now accepted on the Weld County
paved road system for full maintenance.
pc: Kim Ogle, Planning Services
Chris Gathman, Planning Services
PF-568
M:\PLANNING—DEVELOPMENT REVIEW\3-Final Plat(PF,MF, MJF)\PF-568.DOC
MEMORANDUM
' TO: Chris Gathman, Planner II DATE: 10/31/2003
CFROM: Donald Carroll, Engineering Administrator Pie
SUBJECT: Z-568, Summit at Mountain View PUD
COLORADO Partial Release of Collateral
At the written request of the applicant, the final inspection was completed.
The following transportation items associated with Exhibit "A" have been completed to my
satisfaction. Site grading, street grading, street base, street paving with shoulders, a street
name, and stop sign have been completed.
In accordance with the Improvements Agreement 8.1.5 and 8.1.6, 15% is retained of the paving
line item identified in the Exhibit "A." The 15% ($7,405) shall be retained for a one year period
as a warranty for the asphalt item. At the end of one year, the applicant shall submit a written
request to perform a final inspection. If there is no distress or repairs needed, this amount shall
be released and the Public Works Department will recommend Summit at Mountain View PUD
is placed on the County road system for full maintenance.
All other non-transportation items such as water lines, fencing, landscaping, and utilities shall be
verified by Planning Services prior to release of collateral.
The Weld County Public Works Department recommends release of the transportation portion
except the 15% retainage ($7,405) and the replacement Letter of Credit posted in that same
amount or any additional items that may not be completed on the non-transportation portion.
pc: Dave Dalglish, DNS Development, LLC
Keith Meyer, Engineering Division Manager
Matt Dixon, GIS Tech
Peter Schei, Engineering
Mel Everhart, Motor Grader Supervisor
Marc Street, Maintenance Supervisor
Z-568 M:\PLANNING\Z-1.DOC
DNS Development, LLC OCT 2 9 2003
451 21St Avenue, Longmont, CC 80501
David Daglish, Project Manager, (303)651-3829 'I` ' ` S
PU9tar V/GFK DEPT
October 27, 2003
Mr. Don Carroll
Weld County Public Works
P. a Box 758
Greeley, CO 8O632
RE: Z-568, Summit at Mountain View PUD Final inspection
Dear Don:
The purpose of this letter is to request that you perform a finial inspection of The
completed improvements at the Summit at Mountain View PUD site. if all
requirements have been met, we also request that Weld County Public Works
assume ail maintenance of Summit Way as soon as possible.
Per our phone conversation on 99/29/03, it is my understanding that you need the
items below to complete this process. These items are attached:
1. Road density test results from the pavement contractor.
2, A certificate from the surveyor that authenticates the As-Bunts,
3. A receipt showing that we met the dusting requirements.
ln addit'l,cr:, i nave included the rinai invoice from our general contractor showing
all work completed. Also, at the time we talked, United ',Rower had not yet
installed cur streetlight, it has since been installed and cowered on about Me
weeks ago.
9 assume we will get notification in writing when the County has taken over the
maintenance responsibility and re,:eased the irrevocable Letter of Credit
collateral. If this is not accurate, please let me know.
if there are any other concerns or questions, please call me at your earnest
convenience. i really appreciate a your help with this project.
Sincerely,
91 9 x.'
Dave Dalglish
Project Manager
ecreSCOTT, COX & ASSOCIATES, INC. consulting engineers • surveyors
M. Edward Glass ow, IV, RE. • William H. Mittelfel
g d. RE.
October 22,2003
•
Fischer Construction,Inc.
7460 Weld County Road 1
Longmont, Colorado 80504
Project: 03436
Ladies and Gentlemen:
Attached to this letter are the results of the density testing performed to date for
the Summit at Mountain View project in Weld County Colorado.
Please let us know if there are any other parties that should receive copies of the
testing reports.
If there are questions or comments concerning our inspection, testing or this
report, please do not hesitate to contact us.
Sincerely,
SCOTT, CO &ASSOCIATES, INC.
�°°aEo'6';, By /V7Lj j`/�+y..f(rJ (LAE
181,
� o Pocussc;q William A. Close
o 183ctig Reviewed
"VY0
'�'nr�it°nm3st�u° "���
By: St'
M. Edwar• Cl ssgow, P.E.
•
1530 55th Street • Boulder, Colorado 80303 • (303) 444-3051 • Fax: (303) 444-3387
Serving Colorado with offices in•Boulder•Longmont•Loveland
SCOTT, COX & ASSOCIATES
1530 55TH ST.
Boulder, CO 80303
(303) 444-3051
Summary of Moisture Density Tests
Project name:Summit at Mountain View
Project#03436
Depth is from grade
'= retest
Proctor information: 112.0 pcf at 16.6%optimum moisture
Date Location PROC DEPTH DRY DENS. %MOISTURE %COMPACTION
7/31/2003 Street Subgrade"'"""'
F 200'east of the west end 112.0 0.0 107.7 9.0 96.2
F 300' east of the west end 112.0 0.0 106.2 8.9 94.8
F 375'east of the west end 112.0 0.0 101.5 7.1 90.6
F 450' east of the west end 112.0 0.0 101.7 8.1 90.8
8/1/2003 Street Subgrade
'F 200'east of the west end 112.0 0.0 99.5 8.6 88.8
'F 350'east of the west end 112.0 0.0 100.8 9.0 90.0
'F 500'east of the west end 112.0 0.0 99.4 11.0 88.8
'F 600'east of the west end 112.0 0.0 95.6 12.6 85.4
' 200'east of the west end 112.0 0.0 106.5 15.7 95.1
350'east of the west end 112.0 0.0 106.8 17.6 95.4
500'east of the west end 112.0 0.0 107.3 18.6 95.8
' 600'east of the west end 11'2.0 0.0 106.5 18.3 95.1
center of the cul-de-sac 112.0 0.0 106.5 16.0 95.1
8/4/2003 ""'Asphalt paving`"'"""
Rice values 92-96%*****
700'west and 24' north of CL 153.1 btm 144.2 94.2
710'west and 30'south of CL 153.1 btm 142.8 93.3
Page 1
625'west and 10' north of CL 153.1 btm 140.9 92.0
525'west and 8' north of CL 153.1 btm 142.2 92.9
425'west and 8'north of CL 153.1 btm 142.5 93.1
360'west and 8'south of CL 153.1 btm 141.3 92.3
260'west and 8'south of CL 153.1 btm 140.8 92.0
160'west and 8'south of CL 153.1 btm 139.3 91.0
` 160'west and 8'south of CL 153.1 btm 146.4 95.6
60'werst and 10'south of CL 153.1 btm 145.1 94.8
250'west and 10' north of CL 153.1 btm 144.3 94.3
8/7/2003 Asphalt paving
•••"Rice values 92-96%*****
800'west and 27'south of CL 152.1 top 143.4 94.3 I
800'west and 3'south of CL 152.1 top 142.0 93.4
750'west and 6'south of CL 152.1 top 140.2 92.2
650'west and 6'south of CL 152.1 top 138.1 90.8
650'west and 6'south of CL 152.1 top 148.1 97.4
550'west and 10'south of CL 152.1 top 145.4 95.6
300'west and 8'south of CL 152.1 top 139.9 92.0
120'west and 8'south of CL 152.1 top 143.1 94.1
Page 2
6 (Arts-DREXEL •
—SURVEYING
Civil Arts-Drexel Group, Inc.• 1860 Leflhand Circle, Suite A•Longmont. Co WW1 •Tel: (303) 682--.131 • Fax: p03) 682-1149 •www.civlartsdrexeI.5om
September 27, 2003 -
Mr. Bart Fischer Fax: (303) 485-6243
•
Fischer Construction, Inc.
•7460 Weld County Road 1
Longmont, CO 80504
Re: Summit at Mountain View-As Builts
Project 395-0
CERTIFICATE
On September 9, 2003, CivilArts-Drexel Group performed an as-built location of the improvements
on the referenced site located in the E%2 of Section 5, T1 N, R68W, of the 6th P. M., Weld County,
Colorado.
The results of the measurements show that all the improvements located on the site including paved
streets, utilities, and the detention pond overflow weir have been constructed within the platted street
right-of-way or platted utility easements as shown on the recorded plat of Summit at Mountain View.
Sincerely,
CIVIL ARTS-DREXEL GROUP, INC.
Frank N. Drexel, PLS
President
NOTICE: According to Colorado law you must Frank N. Lie? r� 101:-•
NOTICE:
commence any legal action based upon any defect Colorado Rit $ sigr]a�1}4fl.a
in this survey within three years after you first Surveyor 4 o
discovered such defect. In no went, may any 1860 Lefth211d�Cir#A. Longmdylt CO 80501
action based upon any defect in this survey be f .
commenced more than ten years from the date of Date:
the certification shown hereon. ;t11i1f11„us•
Ft:3950eeitdoc Project 395-0
Development Services for the Communities of the Future
HI
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HI
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•
•
Ci .EROKEE VAC SERVIC__ S
Phone. 303-857-0605 Mobile: 970-539-8274 N2 022226
FAX: 303-857-0604
{ �b� 14001 Hwy. 79 • Bennett, Colorado 80102
.WELL LEASE TMAE START I TIME FINISH CMEfl�OER pIQ. �• )(�
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MAILING ADDRESS:-. - G 88TATE:
COUNTY. I DRIVER: TRUCK ND:
,'Iv 'cirkcK5ot&�simme$irow$ #.2 I
DATE _ DESCRIPTION - - . RATE I AMOUNT
- R -rivoci4-1 Sub J
M' ' o " CAN 5 t Roar( S Par aow/kl -
rAck3 etnto+ttc4e "ov- gus7ea#T'o/
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[V GAUGE GAUGE GAUGE - Payment due 30 days trom date of
TOP TOP TOP TOP TOP TOP
I.-
invoice. A 5% surcharge will be
BOTTOM BOTTOM BOTTOM BOTTOM BOTTOM BOTTOM added to past due accounts.
I Thank Ynni
' APPLICATION AND CERTIFICATE tOR PAYMENT#3 • Page 1
TO: DNS Development, LLC PROJECT: Summit at Mountain View
APPLICATION NO:
(Owner) 451 21st Ave. • Fir and Mountain View 3
PERIOD FROM: 08/25/03
Longmont CO 80501 Erie CO 80516
- PERIOD TO: 09/25/03
FROM: Fischer Construction,Inc. VIA:
(Contractor) 7460 Weld County Road 1 (Architect) PROJECT NO: 2034
Longmont CO 80504 CONTRACT DATE: 06/20/03
CONTRACT FOR:
CONTRACTOR'S APPLICATION FOR PAYMENT The undersigned Contractor certifies that to the best of the
Contractor's knowledge, information and belief the Work
1. Original Contract Sum $ 162,558.00 covered by this Application for Payment has been completed
2. Net change by Change Orders $ 0.00 in accordance with the Contract Documents,that all amounts
3. Contract Sum to Date $ 162,558.00 have been paid by the contractor for Work for which Previous
4.Total Completed&Store to Date $ 162,558.00 Certificates for Payment were issued and payments received
5. Retainage from the Owner,and that current payment shown herein is now
a. 0.00%of Complete Work $ 0.00 due.
b. 0.00%of Stored Materials $ D.00 CONTRA (ST( r C -j l
Total Retainage $ 0.00 "—
)-
6. Total Earned Less Retainage $ 162,558.00 By: Date:4 a9.Q 3
7. Less Previous Certificates for Payment $ 152,272.00
8. Current Payment Due $ 10,286.00 State o l0JQ.Ya EP
9. Balance to Finish, including Retainage $ 0.00 County of:IAE4.23
Subscribed an sworn to b ore
Change Order Summary Additions Deductions _ me thisagk.•day of c� aciza
.Approved Previous Months 0.00 0.00 1 �.7.7J
Approved this Month 0.00 0.00
Notary Public:
Totals 0.00 0.00
Net Changes by Change Order 0.00 My commission expires:2-1',- a��
ARCHITECT'S CERTIFICATE FOR PAYMENT
In accordance with the Contract Documents, based on on-site observations and the data comprising this application,the
Architect certifies to the Owner that to the best of the Architect's knowledge, information and belief the Work has
progressed as indicated,the quality of the Work is in accordance with the Contract Documents, and the Contractor is
entitled to payment of the AMOUNT CERTIFIED.
AMOUNT CERTIFIED $ By: Date:
Continuation Sheet
Summit at Mountain View Application Number: 3 •
Site Improvements/Utilities Application Date: 9/25/2003
DNS Development, LLC Period To: 9/25/2003
Fischer Construction, Inc. Purchase Order Number.
Work Completed
Scheduled From Prey. This Materials Total Per- Balance
Section Description Value Applications Application Presently Completed cent To Finish
Period Stored and Stored
1000 Overhead&Profit 18,176 16,390 1,786 0 18,176 100% 0
2005 Soils Testing/Engineering 14,995 14,995 0 0 14,995 100% 0
3003 Grading&Silt Fence 17,265 16,765 500 0 17,265 100% 0
3055 Road Base,Paving&Shoulder 52,860 52,660 200 0 52,860 100% 0
3056&3057 Water Line/Pits/Service/Fire Hydrants 46,262 46,262 0 46,262 100% 0
3060 Landscaping 13,000 5,200 7,800 0 13,000 100% 0
Sub-Totals 162,558 152,272 10,286 0 162,558 100% 0
•
Page 1 of 1
,) 4
DEC-08-2004 WED 07:32 AM SOUTHWEST WELD PLANNING FAX NO. 720 652 4211 P. 01
FROM :TekNotionS Corp. FAX NO. :303-6S1-3829 Dec. 07 2004 10:07PM P1/1
461 21"'Avenue,Lang ,CO 80001
Voice/Fax:(303)661 DNS Development,LLC
Fax
Tea Weld Cain Planning Offices From: David Dalglish
Fain 720-652-421 Pages. 1,including this page
Phone' 970-353-81 ,x3568 Ostia 12/07104
Rex Scott Temp Letter dated 10/1/2004 CC:
fie Urgent C For Few Q Please Comment O Pioase Reply ❑Pirwse Recycle
ATTN: Chris Gath
Please inform the boa that Scotts letter does not represent the HOA board position,nor is It correct to
state that he represen the HOA majority, He is required to told a meeting with all members and have
a vote on any actions fore he can represent himself in any other capacity than Just a homeowner_
Call me if you have an questions.
Dave
EXHIBIT
•
THE SUMMIT AT MOUNTAIN VIEW HOA
October 1,2004
Weld County Planning
Attn: Chris Gathman
918 10'" Street
Greeley, CO 80631
Dear Mr. Gathman:
On behalf of the majority of landowners at the Summit, I am writing to request
support for a re-plat of the Summit at Mountain View PUD. This re-plat would entail
extending individual lot lines to the PUD parcel boundary, effectively eliminating Outlot A —
Open Space. This private open space is useless to the property owners due to its condition
and the fact that each lot is over three acres in size, providing ample open space.
Furthermore, the trail is a physical, financial and legal liability to the landowners.
Outlot A has become a weed-infested no-man's land. The intended trail through the
open space was not installed properly, lacking suitable weed barrier and irrigation. This has
rendered the trail unusable. DNS Development has tried several measures tremove the
weeds, at great expense, but all have failed to provide an acceptable long-term solution.
There is also major damage in several places that ruins the contiguity of the trail.
Summit at Mountain View HOA, of which all property owners are mandatory
members, is responsible for the upkeep and liability insurance on the trail. The dreadful
design and condition of the trail puts the homeowners in the position of having to pay at
least triple the projected HOA dues for maintenance and face a potential lawsuit from
injuries sustained by trail users.
In short, the majority of landowners believe the HOA covenants grants the Association
the authority to convey the common property in such a fashion and is in favor of pursuing
this action. We would like to have a legal opinion from Weld County as to the viability of
this proposal prior to approaching the developer and voting on the matter at the next
association meeting. The HOA itself would remain intact and continue to maintain the
private road.
Thank you for your time and attention. Please feel free to contact me directly if you
have any questions or need more information.
Sincerely,
Scott Tempel
Vice President
5555 SUMMIT WAY • ERIE, CO • 80516
PHONE: (H) 303-833-0910 (W) 303-453-8811 • FAX: 303-453-8829
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nt \ \ f `♦ \ ii 1 r
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Landscaping Plan
• 1),1/02 Foothills Eny(tnrtt.g •n.r 4
ape e, 6
MEMORANDUM
111 P TO: Chris Gathman, Planner II DATE: 10/31/2003//
CFROM: Donald Carroll, Engineering Administrator •�f
COLORADO SUBJECT: Z-568, Summit at Mountain View PUD
Partial Release of Collateral
At the written request of the applicant, the final inspection was completed.
The following transportation items associated with Exhibit "A" have been completed to my
satisfaction. Site grading, street grading, street base, street paving with shoulders, a street
name, and stop sign have been completed.
In accordance with the Improvements Agreement 8.1.5 and 8.1.6, 15% is retained of the paving
line item identified in the Exhibit "A." The 15% ($7,405) shall be retained for a one year period
as a warranty for the asphalt item. At the end of one year, the applicant shall submit a written
request to perform a final inspection. If there is no distress or repairs needed, this amount shall
be released and the Public Works Department will recommend Summit at Mountain View PUD
is placed on the County road system for full maintenance.
All other non-transportation items such as water lines, fencing, landscaping, and utilities shall be
verified by Planning Services prior to release of collateral.
The Weld County Public Works Department recommends release of the transportation portion
except the 15% retainage ($7,405) and the replacement Letter of Credit posted in that same
amount or any additional items that may not be completed on the non-transportation portion.
pc: Dave Dalglish, DNS Development, LLC
Keith Meyer, Engineering Division Manager
Matt Dixon, GIS Tech
Peter Schei, Engineering
Mel Everhart, Motor Grader Supervisor
Marc Street, Maintenance Supervisor
Z-568 M:\PLANNING\Z-1.DOC
Page 1 of 1
Carol Harding
To: Donald Carroll
Subject: The Summit at Mountain View
I requested an update from Kim, who now tells me you are handling the Summit at Mountain View as to how
much of the project is complete and the amount of collateral that should be retained by Weld County. Below is a
copy of the e-mail I sent Kim, with the amounts, etc. Please give me an update.
"I have received two replacement letters of credit from DNS Development, LLC, Go David Dalglish for The
Summit at Mountain View. The first for$15,000 is being replaced with $1,500; and the second for$157,579 is
being replaced with $7,405. Apparently someone (a planner?) has given them the new figures. However, I don't
have any paperwork or backup. Counld you have someone verify the new amounts are correct, and forward the
appropriate paperwork for me to place on the agenda."
The e-mail to Kim was dated 6/3/04, so this issue needs to be resolved ASAP.
Thanks for your help, Don.
Carol
12/1/2004
Page 1 of 1
Carol Harding
To: Kim Ogle
Subject: Collateral replacement-The Summit at Mountain View
I have received two replacement letters of credit from DNS Development, LLC, do David Dalglish for The Summit
at Mountain View. The first for$15,000 is being replaced with $1,500; and the second for$157,579 is being
replaced with $7,405. Apparently someone (a planner?) has given them the new figures. However, I don't have
any paperwork or backup. Could you have someone verify the new amounts are correct, and forward the
appropriate paperwork for me to place on the agenda.
Thanks,
Carol
6/3/2004
REC i\I'?J
DNS Development, LLC OCT 2 9 2003
451 21st Avenue, Longmont, CO 80501
David Dalglish, Project Manager, (303)651-3829
PU9LIC WOF11(., DEPT
October 27, 2003
Mr. Don Carroll
Weld County Public Works
P. O. Box 758
Greeley, CO 80632
RE: Z-568, Summit at Mountain View PUD Final Inspection
Dear Don:
The purpose of this letter is to request that you perform a final inspection of the
completed improvements at the Summit at Mountain View PUD site. If all
requirements have been met, we also request that Weld County Public Works
assume all maintenance of Summit Way as soon as possible.
Per our phone conversation on 9/29/03, it is my understanding that you need the
items below to complete this process. These items are attached:
1. Road density test results from the pavement contractor.
2. A certificate from the surveyor that authenticates the As-Builts.
3. A receipt showing that we met the dusting requirements.
In addition, I have included the final invoice from our general contractor showing
all work completed. Also, at the time we talked, United Power had not yet
installed our streetlight. It has since been installed and powered on about two
weeks ago.
I assume we will get notification in writing when the County has taken over the
maintenance responsibility and released the Irrevocable Letter of Credit
collateral. If this is not accurate, please let me know.
If there are any other concerns or questions, please call me at your earliest
convenience. I really appreciate all your help with this project.
Sincerely,
4-1--17e
Dave Dalglish /
Project Manager
Ater MEMORANDUM
. To: Board of County Commissioners December 22, 2004
COLORADO From: Chris Gathman, Planner II L-
3%m •
Subject: Release of Collateral in the form of a Letter of Credit for SPR-
368 (Mass Investments, LLC)
On , July 12, 2004 the Board of County Commissioners accepted an Irrevocable Letter of Credit
in the amount of Seventy Eight Thousand Six Hundred Thirty One Dollars ($78,631.00) for Site
Plan Review 368 (Mass Investments, LLC).
To date the following Off-Site improvements were to be completed:
Site Grading estimate $ 138,000.00
Street grading, street base, street paving estimate $ 213,750.00
Curbs, gutters & culverts estimate $ 6,835.00
Sidewalk estimate $ 2,770.00
Sanitary sewers estimate $ 2,170.00
Fencing estimate $ 5,146.00
Landscaping estimate $ 20,320.00
Gas estimate $ 1,560.00
Water Transfer estimate $ 6,314.00
Engineering & Supervision estimate $ 4,774.00
Total Estimated Cost of Improvements and supervision $ 78,631.00
Regarding Landscape collateral: Planning Staff has field checked the site. There are weeds on
the property but there do not appear to be any noxious weeds. The trail is in place, in some
areas there is damage from use of nearby oil & gas facilities. Homeowner's Association met
12/8/2004 and resolved issues regarding the trail. A letter is to be provided from the
homeowners association. After discussions with Homeowner's Association member- Dave
Dalglish. The Homeowners association plans to mow the area and will keep the trail in place.
The trail may not be maintained at a high level based on the consensus of the homeowners
association. The only item that the Planning Department will request is an updated landscape
plan. The trail does not connect with the internal road at the west end and the landscape plan
shows the trail connecting with this road.
After review of the site by the Department of Public Works and the Department of Planning
Services, it has been determined that the work for Site Plan Review 368 (Mass Investments,
LLC) covered under the Irrevocable letter of credit has been completed, and the Department of
Planning Services recommends release of collateral.
SERVICE,TEAMWORK,INTEGRITY,QUALITY
Summit @ Mountain View
Home Owners Association
Meeting Minutes
Meeting Date: December 8, 2004
Location: Linnenburger's Home, 5560 Summit Way, Erie, CO
Attendees:
Name Phone Address Email
Dave & Karla Dalglish 303-651-3829 6025 Fox Hill Dr. teknotions2@comcast.net
Longmont, CO 80501
Sam & Rona Linnenburger 303-828-3196 5560 Summit Way twinpeakssam@cs.com
Erie, CO 80516
Liza Nybo & Scott Tempel 303-833-0910 5555 Summit Way scottnliza@att.net
Erie, CO 80504
Kyle & Debbie Wilmot 303-828-2435 1748 Phillips Ct. wilmot@idcomm.com
Erie, CO 80516
Kevin Gallagher 303-828-0895 P. O. Box 504 kevdarlene5@cs.com
Erie, CO 80516
Lenny & Leslie Levy 303-665-9064 1251 Doric Dr. leonard-levy@juno.com
Lafayette, CO 80516
Bets Scholten 303-772-8754 5036 Fox Hill Dr. BScholten@aol.com
Longmont, CO 80501
Meeting Agenda
1. Call to Order
2. Review of May 25, 2004 Minutes
3. Old Business
a. Mailboxes installed at DNS expense
b. Landscape issues--DNS will kill weeds on the trail in early Spring
c. New sprinkler system/shrubs were installed at DNS expense
4. Treasurers Report
a. Review of Income/Expenses
b. Proposed Budget for 2005
c. Ratification of Budget
5. Election of Board of Directors
a. Current Members--Bets Scholten--Lot 6,--Dave Dalglish--Lot 5,--Scott Tempel--Lot 4
b. Nominations for new members and terms of office.
6. Appointment of Arch. Control Committee
a. Need three members
7. New Business
a. Drainage around Cul-de-sac
b. Purchase of a Tractor
i. Special Assessment
9to y- 3.5' 7_
ii. Individual ownership
c. Replatting of Open Space
8. Schedule next Annual Meeting
9. Adjournment
Old Business
1. Review Minutes of May 25, 2004—Approved as-is.
2. Locked Mailboxes were installed at DNS expense—No Issues discussed.
3. Landscape—trail weeds; Proposal to stop spraying, but mow very low. - Approved
4. New sprinkler system/shrubs installed at DNS expense.
a. Action Item: Get key for locked sprinklers to the HOA. - DNS.
Treasurers Report
1. Review of Income/Expenses—No issues discussed.
2. Proposed Budget for 2005 - see attached.
3. Ratification of 2005 Budget -Approved
Election of Board of Directors
1. Nominated:
a. Scott— President - Approved
b. Sam —Treasurer - Approved
c. Dave—VP & Secretary. - Approved
Appointment of Arch. Control Committee
2. Appointed: Liza, Dave, Kyle - Approved
New Business
1. Concern was raised over the D & O Insurance costs.
a. no alternatives or action items were presented
2. HOA bank account
a. Suggestion was made to check on HOA account that has no service charges. - Sam
b. Proposal made to require 2 signatures on all checks—add Sam. - Approved
3. Weld County Road Maintenance situation was reported on by Dave
a. Being held up until owner landscape issues are resolved and inspection is approved
b. Drainage around the cul-de-sac may be an issue for Weld —waiting for answer from Public Works.
c. Action Item: Owners to write letter to Weld stating that landscape issues are resolved. —Scott
4. Weld County soil conservation district offers free tree seedlings and free soil analysis
a. Action Item: Liza to follow up to see how homeowners may benefit from these.
5. Tractor purchase by HOA for common use by homeowners.
a. Action Item: Tractor assessment- Kevin
b. Action Item: Negotiate price with Greg Balmas - Scott.
c. Action Item: Purchase conditional on a. and b. - Approved to pursue.
6. Schedule Annual Meeting: 12/7/2005, location TBD- Approved
Summit @ Mtn . View HOA Budget •
Budget Actual Proposed Budget
7/1/04 - 12/31/04 7/1/04 -12/31/04 1/1/05 -12/31/05
Income
Dues ($300 X 7) 2100.00 2100.00 4200.00
Late Fees -0- -0- -0-
Transfer Fees ($50) 250.00 200.00 50.00
Working Capital -0- 700.00 -0-
Total Income 2350.00 3000.00 4250.00
Expenses
Landscaping
Mowing 200.00 30.00 400.00
Weed Control 400.00 -0- 800.00
Sprinkler Maintenance 100.00 194.47 300.00
Snow Removal -0- -0- 100.00
Total Landscaping 700.00 224.47 1600.00
Insurance
D&O Insurance 750.00 759.00 779.00
General Liability 250.00 215.00 225.00
Total Insurance 1000.00 974.00 1004.00
Administrative
Bank Charges -0- 35.15 50.00
Postage/Off Supplies 50.00 -0- 50.00
Legal & Filing Fees 10.00 -0- 10.00
Total Administr 60.00 35.15 110.00
Utilities
Electricity 75.00 47.58 150.00
Water 200.00 -0- 400.00
Total Utilities 275.00 47.58 550.00
Total Expense 2035.00 1281.20 3264.00
Reserves 315.00 1018.80 986.00
Working Capital -0- 700.00 -0-
Total Income/Expense -0- 1718.80 -0-
********:KX#X2x2**212X2*Mlk**************22;kYY********k2X21;X************21ClC#22*#t****XXJC22*****22XXYX2
*
2 TRANSACTION REPORT P. 01
x
DEC-30-2004 THU 08:46 AM *
2 FOR: WELD CO GOVT 9703520242
* DATE START RECEIVER TX TIME PAGES TYPE NOTE M# DP *
* DEC-30 08:40 AM 913036846885 6' 04" 16 SEND OK 186 *
* x
x
TOTAL : 6M 4S PAGES: 16 z<
**********x**txt*xtxxx*******xx****x*xx*x****xxx*x********x******Y*****x*************;*x**x*******x*
44 *ilitp
Will FAX TRANSMISSION
COLOR
Weld County
Clair w the Bard
PO Box 756
Oroawy.CO 10632
Fa 970-352-0242
Phone:970-336.7215,on 4217
To; Nancy Date: December 30,2004
Fax: (303)684-6885 Pages: y�d'+Cover
From: Carol Harding,
Deputy Clerk to the Board
Subject: Release of Letters of Credit#802-7471 and#802.7463
a
tw CLERK TO THE BOARD
PHONE (970)336-7215, Ext. 4225
I FAX: (970)352-0242
P. O. BOX 758
WI D O GREELEY, COLORADO 80632
COLORADO
December 29, 2004
1st Bank of Longmont
ATTN: Kelly J.
P. O. Box 629
Longmont, Colorado 80502-0629
RE: Cancellation and release of Collateral - DNS Development, LLC, do David Dalglish
To Whom It May Concern:
Attached hereto please find a copy of the Board of County Commissioner's Resolution approving
the cancellation and release of collateral, as referenced above. The original Irrevocable Letters
of Credit#802-7471 and #802-7463, as well as the replacement Letters of Credit, are enclosed.
This letter and attachment were faxed to Nancy on December 30, 2004.
If you have questions or need additional information, please do not hesitate to contact me at
(970) 356-4000, Extension 4217.
Very truly yours,
BOARD OF COUNTY COMMISSIONERS
Carol A. Harding,
Deputy Clerk to the Board
ti BAN(
OF LONGMONT 1707 NORTH MAIN STREET P.O. BOX 629 LONGMONT,COLORADO 80502 303-772-5500
May 28, 2004
1--fg
ilD .15-
fli rn
n I .. r-
• c�
(r W rm
Board of County Commissioners of Weld County ' C
Attn: Clerk of the Board ( j""I
P.O. Box 758 i' w —+
U C
Greeley, CO 80632 o
Re: Letter of Credit No. 802-7463
Elizabeth J. Scholten
Robert D. Scholten
David G. Dalglish
Karla I. Dalglish
Robert D. Niemeyer
Dear Sir/Madame:
Enclosed please find the extension to the above referenced Letter of
Credit. Please return original Letter of Credit to us in the provided
postage paid envelope.
If you have any questions, please call me at 303-772-5500.
Sincerely,
Kelly James
Loan Processor
?Lib-9X
IRREVOCABLE STANDBY LETTER OF CREDIT
Letter of Credit Number: 802-7463
Amount:U.S. $7,405.00(seven thousand lour hundred and five dollars and zero cents U.S. DOLLARS)
This Letter of Credit is issued on May 28, 2004 by Issuer in favor of the Beneficiary for the account of Applicant. The parties'names
and their addresses are as follows:
APPLICANT:
ELIZABETH J.SCHOLTENK.t 019
5036 Fox Hill Drive
Longmont,Colorado 80501 _�`-e�'Q"
ROBERT D.SCHOLTEN q O"5038 Fox Hill Drive O(1Longmont,Colorado 80501 JO, tie?GE�� tieQyyc9
DAVID G.DALGLISH OR C SSrQ'st,a
6025 Fox Hill Drive F V
Longmont,Colorado 80501 • Q.• 4h¢
KARLA I.DALOLISH �`L•• gK5 t,0
S
6025 Fox Hill Drive Cl
Longmont,Colorado 80501
ROBERT D.NIEMEYER
778 W.Hemlock Circle
Louisville,Colorado 80027
BENEFICIARY:
BOARD OF COUNTY COMMISSIONERS OF WELD COUNTY ATTN:CLERK TO THE BOARD
P.0.Box 758
Greeley,Colorado 80632
ISSUER:
FIRSTBANK OF LONGMONT
1707 North Main Street
Longmont,Colorado 80501
1. LETTER OF CREDIT. Issuer establishes this Irrevocable Standby Letter of Credit (Letter of Credit) in favor of Beneficiary in the
amount indicated above. Beneficiary may drew on this Letter of Credit with a Draft(or Drafts,if the maximum number of drawings is
greater than one). Each Draft shall be signed on behalf of Beneficiary and be marked"Drawn under Firat0ank of Longmont Letter of
Credit No. 802-7463 dated May 2B, 2004." Drafts must be presented at Issuer's address shown above on or before the Expiration
Date. The presentation of any Draft shall reduce the Amount available under this Letter of Credit by the amount of the draft.
This Letter of Credit sets forth In full the terms of Issuer's obligation to Beneficiary. This obligation cannot be modified by any reference
in this Letter of Credit,or any document to which this Letter of Credit may be related.
This Letter of Credit expires an the Expiration Date.
2.DRAWINGS. Beneficiary shall be permitted to make multiple drawings on this Letter of Credit. The maximum number of drawings
that may be made on this Letter of Credit is 2."Draft"means a draft drawn at sight.
3.DOCUMENTS. Each Draft must be accompanied by the following,in original and two copies except as stated:
A.The original Letter of Credit,together with any amendments.
B.A sight draft drawn by Beneficiary on Issuer.
Issuer shall be entitled to accept a draft end the documentation described above,as required by the terms of this Letter of Credit,from
any person purporting to be an authorized officer or representative of Beneficiary without any obligation or duty on the part of Issuer to
verily the identity or authority of the person presenting the draft and such documentation.
4.SPECIAL INSTRUCTIONS. See attached Exhibit'A'incorporated herein by reference.
5.EXPIRATION DATE. This Letter of Credit expires at the close of business at Issuer's address at 6:00 PM Mountain Time(Time)on
November 30, 2004 IDatel. Issuer agrees to honor all Drafts presented in strict compliance with the provisions of this Letter of Credit
on or before the Expiration Date.
6.NON-TRANSFERABLE, This Letter of Credit is not transferable.
7.APPLICABLE LAW. This Letter of Credit is governed by the Uniform Customs and Practices for Documentary Credits, 1993 Revision,
International Chamber of Commerce Publication No. 500. This Letter of Credit Is also governed by the laws of Colorado, except as
those laws conflict with the Uniform Customs end Practices for Documentary Credits,Document 500.
ISSUER:
FirstElank of ngmont /n BY 14 J o N.Remmerde,Senior Vice President
Date 5---2-6-ay
Elizabeth J.Schohm
Standby L•tty Cl Credit )noels CO/4xkdi.mee0070440000416o04a062s04N 01996 Bankers Symems,Inc..St.Cloud.MN El TI,' Page 1
Exhibit "A"
As to a Letter of Credit dated May 26, 2004 in the amount of $7,405.00
to the Board of County Commissioners Weld County from Elizabeth J.
Scholten, Robert D. Scholten, David G. Dalglish, Karla I. Dalglish and
Robert D. Niemeyer.
1. Each draft must bear upon its face the clause "Draw under Letter of
Credit No. 802-7463, dated May 26, 2004, of Firstbank of Longmont".
Each draft must be accompanied by a statement by a duly authorized
officer of the Board of County Commissioners for Weld County stating
that this draw is in connection with funds needed for the account of
Elizabeth J. Scholten, Robert D. Scholten, David G. Dalglish, Karla I.
Dalglish and Robert D. Niemeyer. The amount of each draft, which is
negotiated pursuant to this credit, together with the date of
negotiation, must be endorsed on the reverse side of this letter of
credit.
2. This letter of credit is automatically extended without amendment,
for additional one year periods from the current expiration or any
future expiration date unless 60 days prior to such current expiration
date FIRSTBANK OF LONGMONT 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 FIRSTBANK OF LONGMONT; (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 FIRSTBANK OF
LONGMONT the Letter of Credit No. 802-7463 will not be renewed and that
Elizabeth J. Scholten, Robert D. Scholten, David G. Dalglish, Karla I.
Dalglish, and Robert D. Niemeyer has failed to provide proof of
adequate collateral and substitution of this Letter of Credit No. 802-
7463 (c) copy of letter from FIRSTBANK OF LONGMONT stating non-renewal
of Letter of Credit No. 802-7463 and the original letter of credit.
�� . BF.NEkg0lgio
Hoard Of County Commissionary
Neld County ATTNIClerk To xhe Board IRREVOCABLE
LETTER OF
Fir17"07n North hIBank Of 'Ina ,d CREDIT
Longmont CO 60501
(303)772-0300 LENDER" > ADDRESS'.
PO Sox Ise NO.: 8027463
Greeley, CO 80632
i.6...Nd WFNTtRc*1IONNQ
Efl" 'd HXPIliAT10N DATE
Elizabeth .7. Scholtonitea
Robert D. Scholten This Letter of Credit shall expire upon the earlier of:
David G. Dalglish Karla I. Dalgliah 1. the close of business on
Robert D. Niemeyer April 04, 2004
•
and all drafts and accompanying statements or documents
- ADDRESS P must be presented to Lender on or before that time;or
5036 lox Hill'Drive 2. the day that Lender honors a draw under which the full
Longmont, CO 80501
TELEENtxs xo. eeiN2lhgATxMxa .. .. amount of this Letter of Credit has been drawn.
(303) 772-7478
Lender hereby establishes at the request and for the account of Customer,an Irrevocable Letter of Credit In favor of Beneficiary for a
sum of One Hundred Fifty Seven Thoueand Five Hundred Seventy Nine and no/100
Dollars ($ 157,579.00 ),
These funds shall be made available to Beneficiary upon Lender's receipt from Beneficiary of sight drafts drawn on Lender at Lender's
address indicated above (or such other address that Lender may provide Beneficiary in writing)during regular business hours and
accompanied by the signed written statements or documents Indicated below.
WARNINGTO BENEFICIARY:PLEASEEXAMINETHIS LETTEROF CREDITAT ONCE. IF YOU FEEL UNABLE TO MEET ANY OF ITS
REOUIREMENTS,EITHERSINGLYOR TOGETHER,YOU SHOULD CCINTACTTHE CUSTOMERIMMEDIATELYTO SEE IF THE LETTER
OF CREDITCAN BE AMENDED.OTHERWISE,YOU WILL RISK LOSING PAYMENT UNDER THIS LETTEROFCREDITFOR FAILURETO
COMPLY STRICTLY WITH ITS TERMS AS WRITTEN.
1. DRAFT TERMS AND CONDITIONS 1QO
Lender shall honor drafts submitted by Beneficiary under the following terms and conditions: , f'
See attached Exhibit "A" incorporated herein by reference.
at
iSL 00 4G4 Glat
ci
Upon Lender's honor or such drafts,Lender shall be fully discharged of Its obligations under this Letter of Credit and shall not be
obligated to make any further payments under this Letter of Credit once the full amount of credit available under this Letter of Credit has
been drawn. If a non-conforming demand is made, Lender shall notify Beneficiary of its dishonor on or before the time specified in
Paragraph 5 below.
Beneficiaryshall have no recourse against Lender for any amount paid under this Letter of Credit once Lender has honored any draft or
other document which compiles strictly with this Letter of Credit,and which on its face appears otherwise in order but which is signed.
issued,or presented by a party or under the name of a party purporting to act for Beneficiary,purporting to claim through Beneficiary,or
posing as Beneficiary without Beneficiary's authorization. By paying an amount demanded in accordance with this Letter of Credit,Lender
makes no representation as to the correctnessof the amount demanded and Lender shall not be liable to Beneficiary,or any other person,
for any amount paid or disbursed for any reason whatsoever,including, without limitation, any nonapplication or misapplication by
Beneficiaryol the proceeds of such payment. By presenting upon Lender or a confirming bank,Beneficiary certifiiesthat Beneficiary has not
and will not present upon the other,unless and until Beneficiary meets with dishonor. Beneficiary promises to retum to Lender any funds
received by Beneficiary in excess of the Letter of Credit's maximum drawing amount.
2. USE RESTRICTIONS
All drafts must be marked'DRAWN UNDER Firstsank Of Longmont
IRREVOCABLE LETTER OF CREDIT 4027463
April 04, 2003 ,•and the amount of each draft shall be marked on the draft. Only Beneficiary or Beneficiary's
Transferee(if this Letter of Credit Is transferable)may complete a draft end accompanying statements or documents required by this
Letter of Credit and make a draw under this Letter of Credit. This original Letter of Credit must accompany any draft drawn hereunder.
Partial draws ® are permitted E are not permitted under this Letter of Credit. Lender's honor of a partial draw shah
correspondingly reduce the amount of credit available under this Letter of Credit. Following a partial draw,Lender shall return this
original Letter of Credit to Beneficiary with tho partial drew noted hereon;in the alternative,and in its sole discretion,Lender may
issue a substitute Letter of Credit to Beneficiary in the amount shown above,less any partial draw(s).
3. PERMITTED TRANSFEREES
❑ If checked,this Letterof Credit may be transferredby Beneficiaryupon prior written notice to Lender of the transfer.The Transferee
shall be deemed the new Beneficiary of this Letter of Credit and the documents of the Transferee,including drafts required under
this Letter of Credit,will be processed by Lender(or any Intermediary)without the original Beneficiary's intervention and without any
further obligation of Lender to the original Beneficiary.
1) If checked,the right to draw under this Letter of Credit shall be nontransferable,except for:
A. A transfer(in its entirety,but not In part)by direct operation of law to the original Beneficiary's administrator,executor,bankruptcy
trustee,receiver,liquidator,successor,or other representative at law;and
B. The first immediate transfer(h its entirety,but not In pen)by such legal representativeto a third party after express approval of a
governmental body Oudicial,administrative,or executive).
raven eromimor,TOavana.Inc.(LSKGI 1000)537.31W
4. TRANSFEREE'S REQUIRED DOCUMENTS
When the presenter Is a permitted Transferee under paragraph 3 above,the documents required for a draw shall include:
A. All documents required elsewherein this Letterol Credit,except that such documents may be in the name of and executed by either
the original Beneficiary or the presenter permitted by paragraph 3:and
B. When the presenter Is a permitted Transfereeunder paragraph 3.A.or a third party under paragraph 3.8.,a certifiedcopy of the one
or more documents which show the presenter's authority to claim through or to act with authority for the original Beneficiary.
6. TIMING OF DISHONOR
Lender may rely upon any reason for dishonor which it communicates to Beneficiaryor the presenterwithin three(3)Banking Days after
Lender has received the last document forming Beneficiary'spresentment(the'Three-DayPerlod'). Lender shall be entitled to rely upon
such reason without regard to either(I)the timing of any presentment made before the Expiration Date,or(ii)the liming Inside the
Three-DayPedod of any preliminary communicatlon(s)from Lender concerning the dishonor decision or any reason far dishonor. For
any reason for dishonor given during the Three-DayPerlod,Lender shall be conclusively deemed to have met the'reasonable time',
'without delay',and other timing requirements as the Uniform Customs and Practice for Documentary Credits,1993 Revision,ICC
Publication No 500,as most recently published by the International Chamber of Commerce(the'UCP')may impose. The Expiration
Date shall not be extended to accommodate a presentment made less than three(3)Banking Days before the Expiration Date,and
Benellciaryshall not be entitled to submit a draw request or provide Lender with any documents in support of a draw after the Expiration
Date. Lender shall not be required to communicate a dishonor decision or its reasons within a lime leas than the Three-Day Period.
'Banking Day'means any day,except Saturday,on which commercial banks located in Colorado are open,
6. COMPLIANCE BURDEN
Lender is not responsible for any impossibility or other difficulty In achieving strict compliance with the requirements of this Letter of
Credit precisely as written. Beneficiary understands and acknowledges:(I)that unless and until the present wording of this Letter of
Credit is amended with Lenders prior written consent,the burden of complying strictly with such wording remains solely upon
Beneficiary;and(II)that Lender Is relying upon the lack of such amendment as constituting Beneficiary's initial and continued approval
of such wording.
7. NON-SEVERABILITY
If any aspect of this Letterol Credit la ever declared unenforceable for any reason by any court or govemmental body having jurisdiction.
Lender's entire engagement under this Leherof Credit shall be deemed nut and void ab Initio,and both Lender and Beneficlaryshall be
restored to the position each would have occupied with all rights available as though this Letter of Credit had never occurred. This
non-severabilitypravision shall override at other provisions In this Letter of Credit,no matter where such provision appears within this
Letter of Credit.
S. CHOICE OF LAW/JURISDICTION
This Letter of Credit is subject to the UCP. This Letter of Credit shall be governed by and construed In accordance with the laws of the
State of Colorado , United Statesof America,except to the extent such laws are inconsistent with the UCP. Lender
and Beneficiary consent to the jurisdiction and venue of any court selected by Lender in Its discretion boated in the State of
Colorado in the event of any legal proceeding under this Letter of Credit.
9. EXPIRATION
Lender hereby agrees with Beneficiary that drafts drawn under and in compliance with the terms of this Letter of Credit will be duty
honored if presented to the Lender on or before the Expiration Date.
Dated: April 04, 2003
LENDER: ➢irstBank OE Longmont
By; .(/
Ja N. Rammerde
Se or Vice President
ENDORSEMENT OF DRAFTS DRAWN:
Amount Amount
Date Negotiated By In Words In Figures
•
\uanoxa a fwmMon Tsnmwau.Int(9lw) iii 937.37119
EXHIBIT "A'
As to a Letter of Credit dated April 4, 2003 in the amount of
$157,579.00 to the Board of County Commissioners Weld County from
Elizabeth J. Scholten, Robert D. Scholten, David G. Dalglish, Karla I.
Dalglish and Robert D. Niemeyer.
1. Each draft must bear upon its face the clause "Draw under Letter of
Credit No. 802-7463, dated April 4, 2003, of FirstBank of
Longmont". Each draft must be accompanied by a statement by a duly
authorized officer of the Board of County Commissioners for Weld
County stating that this draw is in connection with funds needed
for the account of Elizabeth J. Scholten, Robert D. Scholten, David
G. Dalglish, Karla I. Dalglish and Robert D. Niemeyer. The amount
of each draft, which is negotiated pursuant to this credit,
together with the date of negotiation, must be endorsed on the
reverse side of this letter of credit.
2. This letter of credit is automatically extended without amendment,
for additional one year periods from the current expiration or any
future expiration date unless 60 days prior to such current
expiration date FIRSTBANK OF LONGMONT 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 FIRSTBANK OF LONGMONT; (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 FIRSTBANK OF LONGMONT the Letter of Credit No.
6027463 will not be renewed and that Elizabeth J. Scholten, Robert
D. Scholten, David G. Dalglish, Karla I. Dalglish, and Robert D.
Niemeyer has failed to provide proof of adequate collateral and
substitution of this Letter of Credit No. 8027463 (c) copy of
letter from FIRSBANK OF LONGMONT stating non-renewal of Letter of
Credit No. 6027463 and the original letter of credit.
BAN<
OF LONGMONT 1707 NORTH MAIN STREET P.O. BOX 629 LONGMONT,COLORADO 80502 303-772-5500
May 28, 2004
:3 - - -. -
Board of County Commissioners of Weld County
II , VJ
Attn: Clerk of the Board
P.O. Box 758 :?+
Greeley, Co 80032 Li F I.
O
Re: Letter of Credit No. 802-7471
Elizabeth J. Scholten
Robert D. Scholten
David G. Dalglish
Karla I. Dalglish
Robert D. Niemeyer
Dear Sir/Madame:
Enclosed please find the extension to the above referenced Letter of
Credit. Please return original Letter of Credit to us in the provided
postage paid envelope.
If you have any questions, please call me at 303-772-5500.
Sincerely,
16-,/
Kelly James
Loan Processor
PL. /C9 (r
IRREVOCABLE STANDBY LETTER OF CREDIT
Letter of Credit Number 802.7471
Amount:U.S. 8 1,500.00 lone thousand five hundred dollars and zero cents U.S.DOLLARS)
This Letter of Credit is issued on May 28,2004 by Issuer in favor of the Beneficiary for the account of Applicant. The parties'names
end their addressee are as follows:
APPLICANT:
ELIZABETH J.SCHOLTEN -aQOS'
5036 Fox Hill Drive
Longmont,Colorado 80501 1,40'
ROBERT D.SCHOLTEN 43 'SZ
5036 Fox Hill Drive 1'S %'"
Longmont,Colorado 80501 fir CteC a
•
DAVID G.DALGLISH �q
6025 Fox Hill Drive )
Longmont,Colorado 80501 VI)
)
C1e
KARLA I.DALGLISH
8025 Fox Hill Drive $,Ly OeQJx'�
Longmont,Colorado 80501
ROBERT D.NIEMEYER
776 W.Hemlock Circle
Louisville,Colorado 80027
BENEFICIARY:
BOARD OF COUNTY COMMISSIONERS OF WELD COUNTY ATTN:CLERK TO THE BOARD
P.0.Box 758
Greeley,Colorado 80632
ISSUER:
FIRSTBANK OF LONGMONT
1707 North Main Street
Longmont,Colorado 80501
1. LETTER OF CREDIT. Issuer establishes this Irrevocable Standby Letter of Credit 'Letter of Credit) in favor of Beneficiary in the
amount indicated above. Beneficiary may draw on this Letter of Credit with a Draft(or Drafts,if the maximum number of drawings is
greater than one). Each Draft shall be signed on behalf of Beneficiary and be marked"Drawn under FlrstBank of Longmont Letter of
Credit No. 802-7471 dated May 28, 2004." Drafts must be presented at Issuer's address shown above on or before the Expiration
Date. The presentation of any Draft shall reduce the Amount available under this Letter of Credit by the amount of the draft.
This Letter of Credit sets forth in full the terms of Issuer's obligation to Beneficiary. This obligation cannot be modified by any reference
in this Letter of Credit,or any document to which this Letter of Credit may be related.
This Letter of Credit expires on the Expiration Date.
2.DRAWINGS. Beneficiary shall be permitted to make multiple drawings on this Letter of Credit. The maximum number of drawings
that may be made on this Letter of Credit is 2. "Draft'means a draft drawn at sight.
3.DOCUMENTS. Each Draft must be accompanied by the following,in original and two copies except as stated:
A.The original Letter of Credit,together with any amendments.
B.A sight draft drawn by Beneficiary on Issuer.
Issuer shall be entitled to accept a draft and the documentation described above,as required by the terms of this Letter of Credit,from
any person purporting to be an authorized officer or representative of Beneficiary without any obligation or duty on the part of Issuer to
verify the identity or authority of the person presenting the draft and such documentation.
4.SPECIAL INSTRUCTIONS. See attached Exhibit'A"incorporated herein by reference.
6. EXPIRATION DATE. This Letter of Credit expires at the close of business at Issuer's address at 6:00 PM Mountain Time(Time)on
November 30, 2004(Date). Issuer agrees to honor all Drafts presented in evict compliance with the provisions of this Letter of Crest
on or before the Expiration Date,
6.NON-TRANSFERABLE. This Letter of Credit is not transferable.
7.APPLICABLE LAW. This Letter of Credit is governed by the Uniform Customs and Practices for Documentary Credits. 1893 Revision.
International Chamber of Commerce Publication No. 500. This Letter of Credit is also governed by the laws of Colorado, except as
those laws conflict with the Uniform Customs and Practices for Documentary Credits,Document 500.
ISSUER:
F1rstBank a ongmont ��,� y�
B AN w"'y pr
n N.Remmerde,Senior Vice President
•
Date 5--U-(>)
ElizStandby
eJ.arOf en
Cr
CO4Xk Letter - Iniaela
CO/4Xkdjemae00]04400004180063063004N et966 aenkba Systems,Inc..Sc Cloud,MN Fi�er�L" PeOa 1
Exhibit "A"
As to a Letter of Credit dated May 26, 2004 in the amount of $1, 500.00
to the Board of County Commissioners Weld County from Elizabeth J.
Scholten, Robert D. Scholten, David G. Dalglish, Karla I. Dalglish and
Robert D. Niemeyer.
1. Each draft must bear upon its face the clause "Draw under Letter of
Credit No. 802-7471, dated May 26, 2004, of Firstbank of Longmont".
Each draft must be accompanied by a statement by a duly authorized
officer of the Board of County Commissioners for Weld County stating
that this draw is in connection with funds needed for the account of
Elizabeth J. Scholten, Robert D. Scholten, David C. Dalglish, Karla I.
Dalglish and Robert D. Niemeyer. The amount of each draft, which is
negotiated pursuant to this credit, together with the date of
negotiation, must be endorsed on the reverse side of this letter of
credit.
2. This letter of credit is automatically extended without amendment,
for additional one year periods from the current expiration or any
future expiration date unless 60 days prior to such current expiration
date FIRSTBANK OF LONGMONT 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 FIRSTBANK OF LONGMONT; (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 FIRSTBANK OF
LONGMONT the Letter of Credit No. 802-7471 will not be renewed and that
Elizabeth J. Scholten, Robert D. Scholten, David G. Dalglish, Karla I.
Dalglish, and Robert D. Niemeyer has failed to provide proof of
adequate collateral and substitution of this Letter of Credit No. 802-
7471 (c) copy of letter from FIRSTBANK OF LONGMONT stating non-renewal
of Letter of Credit No. 802-7471 and the original letter of credit.
BAN(
BENEFIOIARY y.
Board Of County CommissionersWeld County ATTN:Clerk To The Board IRREVOCABLE
LETTER OF
t str
eet
CREDIT
t.nyymoot CO 80501
(303)772-5500 LENDER" mooRFS&
PO Box 758 NO.: 8027471
Greeley, CO 80632
TESEhphEMP iwllwxanoaao.
CUSTOMER: EXPIRATION DATE
Elisabeth J. Scholten
Robert D. Scholten This Letter of Credit shall expire upon the earlier of:
David C. Dalglish Earls I. Dalglish 1. the close of business on
Robert D. Niemeyer April 04, 2904
and all drafts and accompanying statementsor documents
-AooRBss must be presented to Lender on or before that time;or
5036 Fox Hill Drive - 2. the day that Lender honors a draw under which the full
Longmont, CO 80501
TELEPHONE NO. IoFHnpcxnar amount of this Letter of Credit has been drawn.
Lo Ra
(303) 772-7478
Lender hereby establishes at the request and for the account of Customer,an Irrevocable Letterof Credit In favor of Beneficiary for a
sum of Fifteen Thousand and no/100
Dollars ($ 15,000.00 ),
These funds shall be made available to Beneficiary upon Lender's receipt from Beneficiary of sight drafts drawn on Lender at Lenders
address indicated above (or such other address that Lender may provide Beneficiary in writing)during regular business hours and
accompanied by the signed written statements or documents indicated below,
WARNINGTO BENEFICIARY:PLEASE EXAMINE THIS LETTEROF CREDITAT ONCE. IF YOU FEEL UNABLE TO MEET ANY OF ITS
REOUIREMENTS,EITHER SINGLY ORTOGETHER,YOU SHOULD CONTACTTHE CUSTOMER IMMEDIATELYTO SEE IF THE LETTER
OF CREDITCAN BE AMENDED.OTHERWISE,YOU WILLRISK LOSING PAYMENTUNDER THIS LETTEROF CREDITFORFAILURETO
COMPLY STRICTLY WITH ITS TERMS AS WRITTEN.
1. DRAFT TERMS AND CONDITIONS cp'"
Lender shall honor drafts submitted by Beneficiary under the following terms and conditions: Q01
See attached Exhibit "A" incorporated herein by reference.
ER
NO Le- 04
G�90P1aG�'y
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CIT p
O 4 t�to tti
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OIC
1;0 c,e70
Upon Lender's honor of such drafts,Lender shall be fully discharged of its obligations under this Letter of Credit and shall not be
obligated to make any further payments under this Letter of Credit once the full amount of credit available under this Letter of Credit has
been drawn. If a non-conforming demand is made, Lender shall notify Beneficiary of Its dishonor on or before the time specified in
Paragraph 5 below.
Beneficiary shall have no recourse against Lender for any amount paid under this Letterof Credit once Lender has honored any draft or
other document which complies strictly with this Letter of Credit,and which on its face appears otherwise in order but which is signed,
issued,or presented by a party or under the name of a party purporting to act for Beneficiary,purporting to claim through Beneficiary,or
posing as Beneficiary without Beneficiary's authorization. By paying an amount demanded In accordance with this Letter of Credit,Lender
makes no representation as to the correctnessof the amount demanded and Lender shall not be liable to Beneficiary,or any other person,
for any amount paid or disbursed for any reason whatsoever,Including, without limitation, any nonapplication or misapplication by
Beneficiary of the proceeds of such payment. By presenting upon Lender or a confirming bank,Beneficiarycertifiesthat Beneficiaryhas not
and will not present upon the other,unless and until Beneficiary meets with dishonor. Beneficiary promises to return to Lender any funds
received by Beneficiary in excess of the Letter of Credit's maximum drawing amount.
2. USE RESTRICTIONS
All drafts must be marked'DRAWN UNDER FiretBank Of Longmont
IRREVOCABLE LETTER OF CREDIT S027471
April 04, 2003 and the amount of each draft shall be marked on the draft. Only Beneficiary or Beneficiary's
Transferee(it this Letter of Credit is transferable)may complete a draft and accompanying statements or documents required by this
Letter of Credit and make a draw under this Letter of Credit. This original Letter of Credit must accompany any draft drawn hereunder.
Partial draws ® are permitted ❑ are not permitted under this Letter of Credit. Lender's honor of a partial draw shall
correspondingly reduce the amount of credit available under this Letter of Credit. Following a partial draw,Lender shall return this
original Letterof Credit to Beneficiary with the partial draw noted hereon;in the alternative,and in Its sole discretion,Lender may
issue a substitute Letter of Credit to Beneficiary in the amount shown above,less any partial draw(s).
3. PERMITTED TRANSFEREES
❑ If checked,this Letterof Credit may be transferredby Beneficiary upon prior written notice to Lender of the transfer.The Transferee
shall be deemed the new Beneficiary of this Letter of Credit and the documents of the Transferee,including drafts required under
this Letter of Credit,will be processed by Lender(or any Intermediary)without the original Beneficiary'sintervention and without any
further obligation of Lender to the original Beneficiary.
QX If checked,the right to draw under this Letter of Credit shall be nontransferable,except for:
A. A transfer(in its entirety,but not in part)by direct operation of law to the original Beneficiary's administrator,executor,bankruptcy
trustee,receiver,liquidator,successor,or other representative at law;and
B. The first immediate transfer(in its entirety,but not In part)by such legal representativeto a third party after express approval of a
governmental body(judicial,administrative,or executive).
MASTBmt FomWlm Tc,Mrylw,Mc.Isssel (0W)337.3199
4. TRANSFEREE'S REQUIRED DOCUMENTS
When the presenter is a permitted Transferee under paragraph 3 above,the documents required for a draw shall Include:
A. All documents required elsewhereln this Letterof Credit,except that such documents may be In the name of and executed by either
the original Beneficiary or the presenter permitted by paragraph 3;and
B. When the presenteris a permitted Transfereeunder paragraph 3.A.or a third party under paragraph 3.B.,a certified copy of the one
or more documents which show the presenter's authority to claim through or to act with authority for the original Beneficiary.
5. TIMING OF DISHONOR
Lender may rely upon any reason for dishonor which it communicates to Benefklaryor the presenter within three(3)Banking Days after
Lender has received the last document forming Beneficiary's presentment(the Three-DayPeriod'). Lender shall be entitled to rely upon
such reason without regard to either(I)the timing of any presentment made before the Expiration Date,or(Ii)the timing Inside the
Three-DayPeriod of any preliminary communication(s)from Lender concerning the dishonor decision or any reason for dishonor. For
any reason for dishonor given during the Three-DayPeriod,Lender shall be conclusively deemed to have met the'reasonable time',
'without delay',and other timing requirements as the Uniform Customs and Practice for Documentary Credits,1993 Revision,ICC
Publication No 500,as most recently published by the International Chamber of Commerce(the'UCP')may Impose. The Expiration
Dale shall not be extended to accommodate a presentment made less than three(3)Banking Days before the Expiration Date,and
Beneficiary shall not be entitled to submit a draw request or provide Lender with any documents in support of a draw after the Expiration
Date. Lender shall not be required to communicate a dishonor decision or Its reasons within a time less than the Three-Day Period.
'Banking Day'means any day,except Saturday,on which commercial banks located In Colorado are open.
6. COMPLIANCE BURDEN
Lender is not responsible for any Impossibility or other difficulty in achieving strict compliance with the requirements of this Letter of
Credit precisely as written. Beneficiary understands and acknowledges:g)that unless and until the present wording of this Letter of
Credit is amended with Lender's prior written consent, the burden of complying strictly with such wording remains solely upon
Beneficiary:and(ii)that Lender is relying upon the lack of such amendment as constituting Beneficiary's Initial and continued approval
of such wording.
7. NON-SEVERABILITY
If any aspect of this Letterof Credit Is ever declared unenforceable for any reason by any court or governmental body having Jurisdiction,
Lender's entire engagement under this Letter of Credit shall be deemed null and void ab Initio,and both Lender and Benefciaryshall be
restored to the position each would have occupied with all rights available as though this Letter of Credit had never occurred. This
non-severabilhy provision shall override all other provisions In this Letter of Credit,no matter where such provision appears within this
Letter of Credit.
S. CHOICE OF LAW/JURISDICTION
This Letter of Credit is subject to the UCP. This Letter of Credit shall be governed by and construed in accordance with the laws of the
State of Colorado , United States of America,except to the extent such laws are Inconsistent with the UCP. Lender
and Beneficiary consent to the jurisdiction and venue of any court selected by Lender In Its discretion located In the State of
Colorado in the event of any legal proceeding under this Letterof Credit.
9. EXPIRATION
Lender hereby agrees with Beneficiary that drafts drawn under and In compliance with the terms of this Letter of Credit will be duly
honored if presented to the Lender on or before the Expiration Date.
Dated:April 01, 2003
LENDER: P rstBank Of.�Lpong�mont
By, CYA7N Y�vh'„vTil _
Ja N. Reamerde
9 or vice President
ENDORSEMENT OF DRAFTS DRAWN:
Amount Amount
Date Negotiated By In Words In Figures
aASTE02B 0 romwwn tecmaaq t.hr,a ymai MO)oararae
•
EXHIBIT "A"
As to a Letter of Credit dated April 4, 2003 in the amount of
$15,000.00 to the Board of County Commissioners Weld County from
Elizabeth J. Scholten, Robert D. Scholten, David G. Dalglish, Karla I.
Dalglish' and Robert D. Niemeyer.
1. Each draft must bear upon its face the clause "Draw under Letter of
Credit No. 802-7471, dated April 4, 2003, of FirstBank of
Longmont" . Each draft must be accompanied by a statement by a duly
authorized officer of the Board of County Commissioners for Weld
County stating that this draw is in connection with funds needed
for the account of Elizabeth J. Scholten, Robert D. Scholten, David
G. Dalglish, Karla I. Dalglish and Robert D. Niemeyer. The amount
of each draft, which is negotiated pursuant to this credit,
together with the date of negotiation, must be endorsed on the
reverse side of this letter of credit.
2. This letter of credit is automatically extended without amendment,
for additional one year periods from the current expiration or any
future expiration date unless 60 days prior to such current
expiration date FIRSTBANK OF LONGMONT 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 FIRSTBANK OF LONGMONT; (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 FIRSTBANK OF LONGMONT the Letter of Credit No.
8027471 will not be renewed and that Elizabeth J. Scholten, Robert
D. Scholten, David G.: Dalglish, Karla I. Dalglish, and Robert D.
Niemeyer has failed to provide proof of adequate collateral and
substitution of this Letter of Credit No. 8027471 (c) copy of
letter from FIRSBANK OF LONGMONT stating non-renewal of Letter of
Credit No. 8027471 and the',original letter of credit.
ctea
CLERK TO THE BOARD
PHONE (970)336-7215, Ext.4225
ipe
FAX: (970)352-0242
P. 0. BOX 758
GREELEY, COLORADO 80632
COLORADO
December 29, 2004
DNS Development, LLC
do David Dalglish
6025 Fox Hill Drive
Longmont, Colorado 80501
RE: Cancellation and release of Collateral
To Whom It May Concern:
Attached hereto please find a copy of the Board of County Commissioner's Resolution approving
the cancellation and release of your collateral. The original Irrevocable Letters of Credit
#802-7471 and #802-7463, as well as the replacement Letters of Credit, have been returned to:
1st Bank of Longmont, Attn: Kelly J., P. 0. Box 629, Longmont, Colorado 80502-0629.
If you have questions or need additional information, please do not hesitate to contact me at
(970) 356-4000, Extension 4217.
Very truly yours,
BOARD OF COUNTY COMMISSIONERS
l'�
j /`;By: ylzteR •
Carol A. Harding,
Deputy Clerk to the Board
Hello