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Home My WebLink About20033081.tiff RESOLUTION 948 RE: APPROVE CANCELLATION AND RELEASE OF COLLATERAL AND ACCEPT REPLACEMENT COLLATERAL FOR USE BY SPECIAL REVIEW PERMIT#1382 - VETERINARY PROPERTIES, LLC WHEREAS, the Board of County Commissioners of Weld County, Colorado, pursuant to Colorado statute and the Weld County Home Rule Charter, is vested with the authority of administering the affairs of Weld County, Colorado, and WHEREAS, on January 20, 2003, the Weld County Board of Commissioners did approve an Improvements Agreement According to Policy Regarding Collateral for Improvements (Private Road Maintenance) with Veterinary Properties, LLC, 1907 1st Avenue, Greeley, Colorado 80631, concerning property described as Lot A of Recorded Exemption #2948; being part of the W1/2 SE1/4 of Section 26, Township 6 North, Range 66 West of the 6th P.M., Weld County, Colorado, and WHEREAS, pursuant to said Improvements Agreement, a Certified Duplicate Original of Irrevocable Letter of Credit#NZS456111 from Wells Fargo Bank, N.A., Trader Services Division, Northern California, 525 Market Street, 25th Floor, San Francisco, California 94105, in the amount of$60,000.00, was submitted to Weld County, and WHEREAS, staff from the Weld County Departments of Planning Services and Public Works has conducted visual inspections of the project and recommend partial cancellation and release of said collateral, and WHEREAS, the Board of County Commissioners deems it advisable to cancel and release Irrevocable Letter of Credit#NZS456111 from Wells Fargo Bank, N.A., Trader Services Division, Northern California, 525 Market Street, 25th Floor, San Francisco, California 94105, in the amount of $60,000.00, and to accept a letter certifying Veterinary Properties, LLC, has $5,000.00 in escrow with Wells Fargo Bank West, N.A. NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld County, Colorado, that Irrevocable Letter of Credit #NZS456111 from Wells Fargo Bank, N.A., Trader Services Division, Northern California, 525 Market Street, 25th Floor, San Francisco, California 94105, in the amount of$60,000.00, be, and hereby is, 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 to the appropriate issuing party. BE IT FURTHER RESOLVED, that the letter certifying Veterinary Properties, LLC, has $5,000.00 in escrow with Wells Fargo Bank West, N.A., be, and hereby is, accepted as replacement collateral. 111111111111IIII11111111111111111111111III11111IIII IIII 2003-3081 3131948 12/03/2003 02:48P Weld County, CO PL1533 1 of 2 R 0.00 D 0.00 Steve Moreno Clerk& Recorder C'l' : / c / /-.1 @/) /--3/4 54 3 CANCEL COLLATERAL - VETERINARY PROPERTIES, LLC (USR #1382) PAGE 2 The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 5th day of November, A.D., 2003. BOARD OF COUNTY COMMISSIONERS WELD COUNTY, COLORADO ATTEST: �,^ E E,4 * EXCUSED �� n'avid on Chair Weld County Clerk to the :q.r, tc3w&bed Ira 1861 • [ cp " D. sd n, ro-Tem BY: Galt` Cv - ✓�11�.-V� . Deputy Clerk to the Boar's Qj °e� . J. eile A ED AS M: -Li % William H. Jerk Attorney Glenn V as d� Date of signature: (l/a?5 111111111111 IIII 1111111 VIII 11111111111 III 111111111 II11 3131948 12/03/2003 02:48P Weld County, CO 2 of 2 R 0.00 0 0.00 Steve Moreno Clerk& Recorder 2003-3081 PL1533 A MEMORANDUM . TO: Board of County Commissioners 10/29/03 COLORADO FROM: Chris Gathman - Planner II - AICP SUBJECT: Partial release of Collateral for USR-1382 (Veterinary Properties, LLC) On January 20, 2003 the Board of County Commissioners accepted collateral in the amount of Sixty Thousand and no/100s ($60,000.00) in the form of Irrevocable Letter of Credit #NZS456111 from Wells Fargo Bank. On October 13, 2003 we received a letter from Shawn Bott (Veterinary Properties, LLC) requesting a partial release of collateral in the amount of Fifty-Five Thousand and no/100s. To date the following Off-Site improvements have been completed: Street Base estimate $ 37,000.00 Culvert estimate $ 750.00 Fire Hydrant estimate $ 15,000.00 Signage estimate $ 250.00 To date the following Off-Site improvements need to be completed: Landscaping estimate $ 5,000.00 Mr. Bott (Veterinary Properties, LLC) agreed in a letter dated October 15, 2003 to install landscaping by May 1, 2004. If improvements are not completed, the applicant and Wells Fargo will allow authorization to disburse remaining funds for the completion of landscaping to Weld County. After review of the Letter by the Weld County Attorney, the Department of Public Works and the Department of Planning Services, it has been determined that the remaining amount of collateral will be sufficient to complete the work required for Special Review Permit 1382 and recommends the partial release of collateral in the amount of$55.000.00. SERVICE,TEAMWORK,INTEGRITY,QUALITY 2003-3081 2164 35th Avenue - „Li" Greeley,CO80634 `c {` c' 970356-1000 Wells Fargo Bank West NA. "tinning Department October 27, 2003 "Y OFFICE 2 9 2003p� Weld County Government ,r4 E I V E D Director of Finance 915 10t Street Greeley, CO 80631 Re: Veterinary Properties, LLC Dear Mr.Nash: This is to certify that Veterinary Properties, LLC has in escrow with this bank in the amount of$5,000.00 to provide for the completion of Landscaping to City specifications per the plans approved by the County of Weld, for the "core and shell" construction of the the Veterinary Properties, LLC property located at 3635 0 Street, Greeley. Attached hereto is an authorization for direct disbursement of these funds to Weld County if said improvements are not completed within the agreed upon time. Sincerely, Jo rs Assistant Vice President Wells Fargo Bank Attachment iii - . - Lcage Awl V& Ste, PLLC r_ 1907 1st Avenue • Greeley, CO 80631 • (970) 353-8185 • Fax (970) 353-0749 October 15,2003 Ladies and Gentlemen: In the event Veterinary Properties fails to satisfactorily complete installation of site improvements consisting of landscaping in accordance with Weld County specifications by May 1, 2004 per the plans approved by Weld County for the property known as Veterinary Properties, LLC, located at 3765 O Street, Greeley, CO, you are hereby authorized to immediately disburse to Weld County all funds escrowed for the completion of the site improvements upon written demand by those said monies by Weld County. Sincerely, C. c.-.? — /19//5103 Veterinary Properties Date By: Shawn Bott DVM V.P. of Veterinary Properties, LLC Loge Adigai Vet ag Ste, PLLC - �� 1907 1st Avenue • Greeley, CO 80631 • (970) 353-8185 • Fax (970) 353-0749 OCT 1 2003 Kim Ogle, Planner III Weld County Planning Department 1555 North 17th Ave Greeley, CO 80631 Dear Kim Ogle, Planner HI: This letter is in regards to Use By Special Review permit number USR 1382. Our project is nearing completion and we will be seeking a Certificate of Occupancy soon. I understand, however, that landscaping normally has to be completed before issuance of a C.O.. We would like to ask for an exception due to the time of the year. We feel our plants would have a better chance of survival being started in the early spring and result in a better appearance to our facility. We would be willing to maintain $5000 in our improvements agreement until the landscaping is complete but would like the remaining $55000 released as the other improvements have been completed. If this is unacceptable or you would like to visit further I can be reached at on of the following numbers: work 353-8185, home 352-3683, cell 371-5571. Our general contractor, Macrum Building Systems, will be calling for a T.C.O. this Friday, October 13, 2003. Sincerely, Shawn Bott, DVM CLERK TO THE BOARD I PHONE (970) 336-7215, Ext. 4225 WI D FAX: (970) 352-0242 P. O. BOX 758 O GREELEY, COLORADO 80632 COLORADO December 1, 2003 Blaine Garrett 9990 Park Meadow Drive Lonetree, Colorado 80124 RE: Cancellation and release of Letter of Credit#FGAC-02119 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 Letter of Credit referenced above. The original Letter of Credit is also enclosed. 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 By: t"L'Lg 4 ./.,Y Carol A. Harding, ----_. Deputy Clerk to the Board WELLS Cr FARGO G CERTIFIED DUPLICATE ORIGINAL Q� 4 V ) \ WELLS FARGO BANK, N.A. �•\`' m!,c TRADE SERVICES DIVISION, NORTHERN CALIFORNIA � 4Qo�w�� e 525 Market Street, 25th Floor 4 w° San Francisco, California 94105 (76+ ° Contact Phone: 1-800-798-2815, Option 1 tiPs., etit- Email: sftrade@wellsfargo.com +°4w5° c.‘ IRREVOCABLE LETTER OF CREDIT a Asp Beneficiary: Board of County Commissioners Letter of Credit No. NZS456111 of Weld County, Colorado 915 10th Street Date: October 31, 2002 Greeley, Colorado 80632 Attn.: Clerk to the Board Ladies and Gentlemen: We hereby establish our irrevocable Letter of Credit in your favor for the account of Veterinary Properties, LLC, 1907 15t Avenue, Greeley, CO 80631 in the amount of Sixty Thousand and 00/100 United States Dollars (US$60,000.00). This Letter of Credit is available with us at our above office by payment of your draft drawn on us at sight accompanied by your signed and dated statement worded as follows: "The undersigned, an authorized officer of the Board of County Commissioners of Weld County, Colorado, hereby certifies that Veterinary Properties, LLC has committed a material breach of the Improvements Agreement According to Policy Regarding collateral for Improvements regarding Real Estate Improvements dated October 29, 2002 by and between Veterinary Properties, LLC and the Board of County Commissioners of the County of Weld." Partial drawings are permitted. (more than one draft may be drawn and presented under the letter of credit) The draft must be marked: "Drawn under Wells Fargo Bank, N.A. Letter of Credit No. NZS456111." This Letter of Credit expires at our above office on October 15, 2003, but shall be automatically extended, without written amendment, to October 15 in each succeeding calendar year unless we have sent written notice to you at your address above by registered mail or express courier that we elect not to renew this Letter of Credit beyond the date specified in such notice, which expiration date will be October 15, 2003 or any subject October 15 and be at least sixty (60) calendar days after the date we send you such notice. 1 This is an integral part of our Letter of Credit No. NZS456111 Upon our sending you such notice of non-renewal of the expiration date of this Letter of Credit, you may also draw hereunder by presentation to us at our above address, on or before the expiration date specified in such notice, of your draft drawn on us at sight accompanied by your signed and dated statement worded as follows: "We hereby certify that we have received notice from Wells Fargo Bank, N.A. that Letter of Credit No. NZS456111 will not be renewed beyond its current expiration date and that Veterinary Properties, LLC has failed to provide proof of adequate collateral and substitution of this Letter of Credit No. NZS456111." If any instructions accompanying a drawing under this Letter of Credit request that payment is to be made by transfer to an account with us or at another bank, we and/or such other bank may rely on an account number specified in such instructions even if the number identifies a person or entity different from the intended payee. Each draft presented hereunder must be accompanied by this original credit for our endorsement thereon of the amount of such draft. This Letter of Credit is subject to the Uniform Customs and Practice for Documentary Credits (1993 Revision), International Chamber of Commerce Publication No. 500 (the "UCP") and engages us with the terms thereof. Very truly yours, WELL FARGO BANK, N. A. By: • (Authorized Si nature) SOCCI LOZA O 2 Hello