HomeMy WebLinkAbout20031416.tiff RESOLUTION
RE: APPROVE IMPROVEMENTS AGREEMENT ACCORDING TO POLICY REGARDING
COLLATERAL FOR IMPROVEMENTS (PRIVATE ROAD MAINTENANCE),
AUTHORIZE CHAIR TO SIGN, AND ACCEPT IRREVOCABLE STANDBY LETTER OF
CREDIT FOR SITE PLAN REVIEW, #358 - RICK WALLACE
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 March 4, 2003, the Department of Planning Services staff approved a
Site Plan Review, #358, for Gary Schneider, 3022 1st Avenue, Building B, Greeley, Colorado
80631, for a Dwelling Unit Structures of two (2) or more units per legal lots in the R-4 (High
Density Residential) Zone District on the following described real estate, to-wit:
Lot 2, Block 2, Carriage Estates, First Filing; being
part of the W1/2 SW1/4 of Section 24, Township 5
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 the current owner, Rick Wallace,
P.O. Box 861, Greeley, Colorado 80632, with terms and conditions being as stated in said
agreement, and
WHEREAS, the Board has been presented with an Irrevocable Standby Letter of Credit
from Cache Bank and Trust, 4601 West 20th Street, Greeley, Colorado 80634, in the amount of
$5,000.00, and
WHEREAS, after review, the Board deems it advisable to approve said agreement and
accept said Irrevocable Standby 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 Rick
Wallace, be, and hereby is, approved.
2003-1416
00 ;
a� AL. E PL1671
IMPROVEMENTS AGREEMENT - RICK WALLACE
PAGE 2
BE IT FURTHER RESOLVED that the Irrevocable Standby Letter of Credit from Cache
Bank and Trust, 4601 West 20th Street, Greeley, Colorado 80634, in the amount of$5,000.00,
be and hereby is, accepted.
The above and foregoing Resolution was, on motion duly made and seconded, adopted
by the following vote on the 4th day of June, A.D., 2003.
BOARD OF COUNTY COMMISSIONERS
WE COUNTY, COL DO
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ATTEST: ��� �/ ��s�,� • La,� � C‘aL ,
/
D vid E. Long, Chair
Weld County Clerk to th• q. ?"-,,I___
Lp , Ro ert D.esden
, Pro-Tem
BY: iL- G 1 ' i
Deputy Clerk to the Bo- . N •
M. J. Gei e
AP V AS TO F aC,iili-_,>7
WLAk
erk �/�
my ttorne
Glenn Vaad
Date of signature: � 7
0
2003-1416
PL1671
MEMORANDUM
TO: Board of County Commissioners
DATE: May 11, 2003
COLORADO `,',
FROM: Kim Ogle, Planner IIIwu
SUBJECT: Acceptance of Irrevocable Letter of Credit
Site Plan Review 358 - Rick Wallace
The Department of Public Works has reviewed the Improvements Agreement according policies
regarding collateral for Improvements (Private Road Maintenance)and the estimated cost appears to be
adequate for the transportation portion of the approach road and parking areas as stated in their
memorandum dated April 21, 2003
The Department of Planning Services has determined that the amount of the agreement will be sufficient
to complete the non-transportation work required for the new office and warehouse facility and
recommends acceptance of this Letter.
On April 25, 2003, the Department of Planning Services received an Irrevocable Letter of Credit, from
the Cache Bank and Trust, in the amount of five thousand (5,000.00) dollars and no/100s for Rick
Wallace on property known as Lot 2, Block 2 Carriage Estates, First Filing, with a situs address of 3434
West 35th Street, Greeley, Colorado, case number SPR-358.
Items covered under this letter of credit include:
Site Grading November 2003 $ 400.00
Sidewalk & Driveways November 2003 $ 2600.00
Landscaping Requirements November 2003 $ 1100.00
Gas November 2003 $ 900.00
Engineering and Supervision $ 0.00
Total Estimated Cost of Improvements and supervision $ 5000.00
The Weld County Attorney, the Department of Public Works and the Department of Planning Services,
have determined that the amount of the agreement will be sufficient to complete the work required for a
Tri-Plex residential structure located at 3434 West 35h Street, Greeley, Colorado, and the Department of
Planning Services recommends acceptance of the Irrevocable Standby Letter of Credit, No. 026, from
the Cache Bank and Trust, 4601 West 20th Street, Greeley, CO 80634.
\wpfiles ogle\kim\cases\collaterallspr358_i.wpd
2003-1416
Weld County Planning Department
GREELEY OFFICE
(it0
APR 2 1 2003
MZECEIVED
MEMORANDU
TO: Kim Ogle, Lead Planner DATE: 4/21/2003
FROM: Donald Carroll, Engineering Administrator ,Aries
COLORADO SUBJECT: SPR-358, Lot 2, Block 2,
Carriage Estates, 1s` Filing
Acceptance of Collateral
I have reviewed the Improvements Agreement According to Policy Regarding Collateral and
Improvements (Private Road Maintenance) for the on site improvements.
The estimated construction costs appear to be adequate for site grading, sidewalks, and
driveways.
The Weld County Public Works Department recommends the transportation portion of the
Exhibit "A" be accepted as it appears to be adequate to complete the project.
Planning Services should review all other non-transportation items prior to scheduling or
acceptance.
pc: SPR-358
M:\PLANN ING\SP R-3.doc
Weld County Planning Department
3 GREELEY OFFICE
IMPROVEMENTS AGREEMENT ACCORDING TO APR 1 6 2003
POLICY REGARDING COLLATERAL FOR IMPROVEMENTS C E I V E D
(PRIVATE ROAD MAINTENANCE)
THIS AGREEMENT,made and entered into this /4 day of Ant) L ,20 d'3,by and between
the County�j of Weld,State of Colorado,acting through its Board of County Commissioners,hereinafter called"County,"
and r�i ./< V./ntLacC hereinafter called "Applicant."
Sew,/--,.lt. e,a
WITNESSETH:
WHEREAS,Applicant is the owner of,or has a controlling interest in the following described property in the
County of Weld,Colorado:
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WV cl-cl oUNty L' c Lean de,
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WHEREAS, a Final Subdivision/Planned Unit Development(PUD) plat of said property, to be known as
has been submitted to the County for approval,and
WHEREAS,relevant Sections of the Weld County Code provide that no Subdivision Final Plat,Planned Unit
Development Final Plat,or Site Plan shall be approved by the County until the Applicant has submitted a Subdivision
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: o
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1.0 Engineering Services: Applicant shall furnish,at its own expense,all engineering services in connection with _g
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. = c co
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1.1 The required engineering services shall be performed by a Professional Engineer and Land Surveyor _9 0
registered in the State of Colorado,and shall conform to the standards and criteria established by the
County for public improvements.
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1.2 The required engineering services shall consist of,but not be limited to,surveys,designs,plans and r o
profiles, estimates, construction supervision, and the submission of necessary documents to the a-
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County. mo c
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1.3 Applicant shall furnish drawings and cost estimates for roads within the Subdivision or Planned Unit N
Development to the County for approval prior to the letting of any construction contract. Applicant o x
shall furnish one set of reproducible"as-built"drawings and a final statement of construction cost to go)r
the County. =
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2.0 Rights-of-Way and Easements: Before commencing the construction of any improvements herein agreed upon, r
Applicant shall acquire,at its own expense,good and sufficient rights-of-way and easements on all lands and
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facilities traversed by the proposed improvements.
3.0 Construction: Applicant shall furnish and install, at its own expense, the Subdivision or Planned Unit
Development improvements listed on Exhibit "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. Whenever a Subdivision
or Planned Unit Development is proposed within three miles of an incorporated community located
in Weld County or located in any adjacent county, the Applicant shall be required to install
improvements in accordance with the requirements and standards that would exist if the plat were
developed within the corporate limits of that community. If the incorporated community has not
adopted such requirements and standards at the time the Subdivision or Planned Unit Development
is proposed, the requirements and standards of the County shall be adhered to. If both the
incorporated community and the County have requirements and standards, those requirements and
standards that are more restrictive shall apply. •
3.2 Applicant shall employ,at its own expense,a qualified testing company previously approved by the
County to perform all testing of materials or construction that is required by the County; and shall
furnish copies of test results to the County.
3.3 At all times during said construction,the County shall have the right to test and inspect,or to require
testing and inspection of material and work at Applicant's expense. Any material or work not
conforming to the approved plans and specifications shall be removed and replaced to the satisfaction
of the County at Applicant's expense.
3.4 Applicant shall famish 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
negligence of the County or its employees while acting within the scope of their employment. All contractors
and other employees engaged in construction of the improvements shall maintain adequate worker's
compensation insurance and public liability insurance coverage,and shall operate in strict accordance with the
laws and regulations of the State of Colorado governing occupational safety and health.
(THERE IS NO SECTION 5)
6.0 Approval of Streets by the County: Upon compliance with the following procedures by the Applicant,streets
within a Subdivision or Planned Unit Development may be approved by the County as public roads and will
be maintained and repaired by a Homeowners Association or,in its absence, the owners of lots within the
Subdivision or Planned Unit Development.
1111111 VIII 1111111 11111 III 1111111 11111 III INN
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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 fords that the streets are constructed
according to County standards,he or she shall recommend full approval. Upon a receipt of a positive
unqualified recommendation from the County Engineer for approval of streets within the
development,the Board of County Commissioners shall fully approve said streets as public but with
private pay.
7.0 General Requirements for Collateral:
7.1 The value of all collateral submitted to Weld County must be equivalent to One-Hundred percent
(100%)of the value of the improvements as shown in this Agreement. Prior to Final Plat approval,
the applicant shall indicate which of the five types of collateral preferred to be utilized to secure the
improvements subject to final approval by the Board of County Commissioners and the execution of
this Agreement. Acceptable collateral shall be submitted and the plat recorded within six(6)months
of the Final Plat approval. If acceptable collateral has not been submitted within six(6)months then
the Final Plat approval and all preliminary approvals shall automatically expire. Applicant may
request that the County extend the Final Plat approval provided the cost estimates are updated and the
development plans are revised to comply with all current County standards,policies and regulations.
The improvements shall be completed within one(I)year after the Final Plat approval(not one year
after acceptable collateral is submitted) unless the applicant(s) requests that this Agreement be
renewed at least thirty (30) days prior to its expiration and further provides that cost estimates for
the remaining improvements are updated and collateral is provided in the amount of One-Hundred
percent(100%)of the value of the improvements remaining to be completed. If improvements are
not completed and the agreement not renewed within these time frames,the County,at its discretion,
may make demand on all or a portion of the collateral and take steps to see that the improvements are
made.
7.2 The applicant may choose to provide for a phased development by means of designating filings of
a Planned Unit Development Final Plat or Subdivision Final Plat. The applicant would need only to
provide collateral for the improvements in each filing as approved. The County will place restrictions
on those portions of the property that are not covered by collateral which will prohibit the conveyance
of the property or the issuance of building permits until collateral is provided or until improvements
are in place and approved pursuant to the requirements for a Request for Release of Collateral.
7.3 The applicant intends to develop in accordance with Exhibits "A"and"B."
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.
111111111111 1111111 11111 III 1111111 11111 III Billing
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8.1 An irrevocable Letter of Credit from a Federal or State licensed financial institution on a form
approved by Weld County. The Letter of Credit shall state at least the following:
8.1.1 The Letter of Credit shall be in an amount equivalent of One-Hundred percent(100%)of the
total value of the improvements as set forth in Section 6.0 and Exhibits"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 fast. 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:
_ 15
8.2.1 In the event property within the proposed development is used as collateral,an appraisal is
a it required of the property in the proposed development by a disinterested Member of the
C.3 American Institute of Real Estate Appraisers (M.A.I.) indicating that the value of the
a.a" property encumbered in its current degree of development is sufficient to cover
c o One-Hundred percent (100%) of the cost of the improvements as set forth in the
mim vImprovements Agreement plus all costs of sale of the property.
0
a 3 a, 8.2.2 In the event property other than the property to be developed has been accepted as collateral
by Weld County,then an appraisal is required of the property by a Member of the Institute
ed ti of Real Estate Appraisers(M.A.I.)indicating that the value of the property encumbered in
r o its current state of development is sufficient to cover One-Hundred percent(100%) of the
ral o
c cost of the improvements as set forth in the Improvements Agreement plus all costs of sale
a o of the property.
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8.2.3 A title insurance policy insuring that the Trust Deed creates a valid encumbrance which is
to°C senior to all other liens and encumbrances.
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a 0permit
8.2.4 A building hold shall be placed on the encumbered property.
or-
4
8,3 Escrow Agreement that provides at least the following:
8.3.1 The cash in escrow is at least equal to One-Hundred percent(100%)of the amount specified
in the Improvements Agreement.
• 8.3.2 The escrow agent guarantees that the escrowed funds will be used for improvements as
specified in the agreement and for no other purpose and will not release any portion of such
funds without prior approval of the Weld County Board of Commissioners.
8.3.3 The escrow agent will be a Federal or state-licensed bank or financial institution.
8.3.4 If Weld County determines there is a default of the Improvements Agreement, the escrow
agent, upon request by the County, shall release any remaining escrowed funds to the
County.
8.4 A surety bond given by a corporate surety authorized to do business in the State of Colorado in an
amount equivalent to One-Hundred percent(100%)of the value of the improvements as specified in
the Improvements Agreement
8.5 A cash deposit made with the County equivalent to One-Hundred percent(100%)of the value of the
improvements.
9.0 Request for Release of Collateral: Prior to release of collateral for the entire project or for a portion of the
project by Weld County,the Applicant must present a Statement of Substantial Compliance from an Engineer
registered in Colorado that the project or a portion of the project has been completed in substantial compliance
with approved plans and specifications documenting the following:
9.1 The Engineer or his representative has made regular on-site inspections during the course of
construction and the construction plans utilized are the same as those approved by Weld County.
9.2 Test results must be submitted for all phases of this project as per Colorado Department of
Transportation Schedule for minimum materials sampling, testing and inspections found in the
Colorado Department of Transportation(CDOT)Materials Manual.
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9.3 "As built plans shall be submitted at the time the letter requesting release of collateral is submitted.
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The Engineer shall certify that the project"as-built" is in substantial compliance with the plans and
n Y specifications as approved, or that any material deviations have received prior approval from the
n County Engineer.
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v 9.4 The Statements of Substantial Compliance must be accompanied, if appropriate, by a letter of
acceptance of maintenance and responsibility by the appropriate utility company,special district or
a, town for any utilities.
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01 S`!v' 9.5 A letter must be submitted from the appropriate Fire
Authority indicating the fire hydrants are in place
— o in accordance with the approved plans. The letter shall indicate if the fire hydrants are operational
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and state the results of fire flow tests.
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S N o 9.6 The requirements in paragraphs 9.0 thin 9.5 shall be noted on the final construction plans.
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r0C 9.7 Following the submittal of the Statement of Substantial Compliance and recommendation of approval
ao of the streets by the County,the applicant(s)may request release of the collateral for the project or
o portion of the project by the Board. This action will be taken at a regularly scheduled public meeting
in of the Board.
5
9.8 The request for release of collateral shall be accompanied by"Warranty Collateral"in the amount of
fifteen percent (15%) of the value of the improvements as shown in this Agreement excluding
improvements fully accepted for maintenance by the responsible governmental entity,special district
or utility company.
9.9 The warranty collateral shall be released to the applicant upon final approval by the Board of County
Commissioners.
10.0 ' Public Sites and Open Spaces: When the Board of County Commissioners,pursuant to a rezoning,Subdivision
or Planned Unit Development,requires the dedication,development and/or reservation of areas or sites other
than Subdivision or Planned Unit Development streets and utility easements of a character,extent and location
suitable for public use for parks, greenbelts or schools, said actions shall be secured in accordance with one
of the following alternatives, or as specified in the Planned Unit Development(PUD)Plan,if any:
10.1 The required acreage as may be determined according to the Weld County Subdivision Regulations
shall be dedicated to the County or the appropriate school district,for one of the above purposes. Any
area so dedicated shall be maintained by the County or school district.
10.2 The required acreage as determined according to Chapter 24 of the Weld County Code, may be
reserved through deed restrictions as open area, the maintenance of which shall be a specific
obligation in the deed of each lot within the Subdivision or Planned Unit Development.
10.3 In lieu of land,the County may require a payment to the County in an amount equal to the market
value at the time of Final Plat submission of the required acreage as determined according to Chapter
24 of the Weld County Code. Such value shall be determined by a competent land appraiser chosen
jointly by the Board and the Applicant. The cash collected shall be deposited in an escrow account
to be expended for parks at a later date.
11.0 Successors and Assigns. This Agreement shall be binding upon the heirs,executors,personal representatives,
successors and assigns of the Applicant, and upon recording by the County, shall be deemed a covenant
running with the land herein described, and shall be binding upon the successors in ownership of said land.
till 311111 HIIN III H111111111
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IN WITNESS WFFREOF,the parties hereto have caused this Agreement to be executed on the day and year
first above written. del
APPLICANT: l ,
Reek LAMllncr
APPLICANT:
TITLE:
Subscribed and sworn to before me this / . ^ t
�9:@�. s�� ,2063 .
My Commission expires: ? JOAN
MY COMMISSION EXPIRES � `: x; Public
MARCH 12, 2006 Ijy�i f� ry
y�y`F OF by°�1:
ATTEST: awilial BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLORADO
\fi$ JEL Weld County Clerk to oa
k
David E. Long hair
'' r (06/04/2003)
BY: 6,
Deputy Clerk to the`Be1��
APPROVED AS TO FORM:
County Atto y
1 111111 11111 1111111 11111 III 1111111 11111 III 11111 III1
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73 -!t//0
EXHIBIT "A"
Name of Subdivision
or Planned Unit Development:
Filing:
Location: 39351 /A/nr 3S "-3 Sn se-7—
Intending to be legally bound, the undersigned Applicant hereby agrees to provide throughout this Subdivision or
Planned Unit Development the following improvements. (Leave spaces blank where they do not apply)
Improvements Quantity Units Unit Estimated Construction
Costs Cost
Site grading Vert' Sete 6'oc
Street grading
Street base
Street paving
Curbs,gutters,and culverts
mom E Sidewalk $ i?weyttiny/s / Zrvoo Z(c;CE
Storm sewer facilities
- al
rC Retention ponds
- YDitch Improvements
—-c 15 Subsurface drainage
o e Sanitary sewers
mm° m Trunk and forced lines
oD `o
2 Mains
a Laterals(house connected)
a al On-site sewage facilities
-ti v' On-site water supply and storage
o Water Mains(includes bore)
C Fire hydrants
o Survey and street monuments and boxes
o Street lighting
oatStreet Names
mFencing requirements
to I-
-.—CO 4- Landscaping //O1 //OA
— Park improvements
- co Road culvert
Grass lined swale
Telephone f o
Gas _
Electric / aeo 9F'(
Water transfer
SUB-TOTAL: EA-id
Sa F el
Engineering and Supervision Costs$
(Testing,inspection,as-built plans and work in addition to preliminary and finalplat;supervision of actual construction
by contractors)
TOTAL ESTIMATED COST OF IMPROVEMENTS AND SUPERVISION $ See `=�
8
The above improvements shall be constructed in accordance with all County requirements and specifications, and
conformance with this provision shall be determined solely by Weld County, or its duly authorized agent.
Said ments
sh�l1be completed according to the construction schedule set out in Exhibit"B
By: 'Wrdi
Applicant
Applicant
Date: , 200,j
Title
(If corporation,to be signed by President and attested to by Secretary,together with corporate seal.)
1111111111111111111111111111111111 11111111 11111 IIII IIII
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9
EXHIBIT "B"
Name of Subdivision
or Planned Unit Development:
Filing: r/ ' '/
Location: 3 7 3 4 f/�t5: 3 S '=t c�7ie c'c.`T
Intending to be legally bound, the undersigned Applicant hereby agrees to provide throughout this Subdivision or
Planned Unit Development the following improvements.
All improvements shall be completed within / years from the date of approval of the final plat.Construction
of the improvements listed in Exhibit"A" shall be completed as follows:
(Leave spaces blank where they do not apply.)
Improvements Time for Completion
Site grading 6 Mie.,dfl&s
Street base
Street paving
Curbs. gutters,and culverts
Sidewalk It VRwrfVei VJ 6 Ale Ai rkc
Storm sewer facilities
Retention ponds
Ditch improvements
Subsurface drainage
Sanitary sewers
Trunk and forced lines
Mains
Laterals (house connected)
On-site sewage facilities
On-site water supply and storage
Water mains
Fire hydrants
Survey and street monuments and boxes
Street lighting
Street name signs
Fencing requirements
Landscaping 6 A lt) irLs -r / Ycnc
Park improvements
Road culvert
Grass lined swale
Telephone 6 Myna-kr
Gas 4 mew--4s
Electric f r Alendr c
Water Transfer 7Jonee'
SUB-TOTAL:
111111111111111111111111 111111111111111 111111111 I I I 111 I
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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: CA42' (101
Applicant
Applicant
Date: 1-ko ,20 D3 .
Title
(If corporation, to be signed by President and attested to by Secretary,together with corporate seal.)
111111/3 33113 III illllll 3111 111111 III IIII
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11
IRREVOCABLE STANDBY LETTER OF CREDIT
April 25, 2003
WELD COUNTY
Board of County Commissioners
915 Tenth Street
PO Box 758
Greeley CO 80632
Amount: $5,000.00 (One hundred percent (100%) of the total value of the improvements
as set forth in Section 6.0 and Exhibits "A" and "B" of Improvements Agreement
Executed Aprila5 2003 between Rick Wallace and the County of Weld.
We hereby authorize you to draw on Cache Bank & Trust for the account of Rick
Wallace up to the aggregate amount of$5,000.00 (Five thousand and no/100) available
by your drafts at sight accompanied by:
1) Statement that developer has not performed the obligations specified in the
Improvements Agreement.
This Letter of Credit is not transferable.
Cache Bank & Trust will guarantee that, at all times the unreleased portion of this 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 Cache Bank & Trust. 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.).
Fifteen percent (15%) of the total of this Letter of Credit ($750.00) cannot be drawn upon
and will remain available to Weld County until released by Weld County.
We hereby engage with you that all drafts and documents drawn under and in compliance
with the terms of this Letter of Credit will be duly honored if drawn and presented for
payment at this office (4601 West 20th Street, Greeley, CO 80634) on or before the
expiration date of this Letter of Credit.
The expiration date of this Letter of Credit shall be either the date of release by Weld
County of the final fifteen (15%), or one year from the date of Final Plat approval,
whichever occurs first. Cache Bank &Trust will send written notice by certified mail to
the Clerk to the Board of County Commissioners giving notice of the pending expiration
sixty(60) days prior to the expiration. Until a Return Receipt Acknowledgment of said
notice, this Letter of Credit shall remain in full force and effect.
The amount of any draft drawn under this credit must be endorsed on the reverse side
hereof. Drafts must bear the clause; "Drawn under Cache Bank & Trust's Letter of Credit
No. 026.
This credit is subject, so far as applicable to "The Uniform Customs and Practice for
Documentary Credits, 1983 Revision, The International Chamber of Commerce
Publication No. 500", or any subsequent revision thereto.
CACHE BANK & TRUST
avid A. Thompson
Vice President
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