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Home My WebLink About20003262.tiff RESOLUTION RE: APPROVE ASSIGNMENT AND ASSUMPTION OF IMPROVEMENTS AGREEMENTS AND SUBSTITUTION OF COLLATERAL FOR PLANNED UNIT DEVELOPMENT FINAL PLAN, S #562 -THE GENESEE COMPANY 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, 2000, and at the request of Katharine H. Oliver, the Board did approve an Improvements Agreement According to Policy Regarding Collateral for Improvements (Public Road Maintenance) and an Improvements Agreement According to Policy Regarding Collateral for Improvements (Private Road Maintenance)for Meadow Vale Farm PUD, Third Filing S #562, on the following described real estate, to-wit: Block 1, Lots 1 through 3; Block 2, Lots 1 through 3; and Block 3, Lots 1 through 8, all in Meadow Vale PUD, Third Filing, Weld County, Colorado WHEREAS, by Resolutions #2000-2873 and #2000-2874 the Board did accept Irrevocable Standby Letter of Credit#0500000101 from Centennial Bank of the West, 3561 Stagecoach Road, Longmont, Colorado 80504, in the amount of$505,000.00, as surety for said improvements agreements, and WHEREAS, the property has now been acquired by The Genesee Company, who has submitted substitute collateral in a like amount, via Surety Bond #064SB103475327BCM from Travelers Casualty and Surety Company of America, and WHEREAS, upon recommendation of legal staff and after review, the Board deems it advisable to approve said assignment and assumption of improvements agreements, 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 Assignment and Assumption of Improvements Agreements presented by The Genesee Company be, and hereby is, approved. BE IT FURTHER RESOLVED by the Board that Irrevocable Standby Letter of Credit #0500000101 from Centennial Bank of the West, 3561 Stagecoach Road, Longmont, Colorado 80504, in the amount of$505,000.00, be, and hereby is, released and that the Clerk to the Board be directed to return the appropriate documentation to the Centennial Bank of the West. BE IT FURTHER RESOLVED by the Board that Surety Bond #064SB103475327BCM from Travelers Casualty and Surety Company of America, in the amount of$505,000.00, naming The Genesee Company as Principal and Weld County, Colorado, as Obligee, be, and hereby is, accepted as substitute collateral. 2000-3262 PL1010 IMPROVEMENTS AGREEMENT - THE GENESEE COMPANY PAGE 2 The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 27th day of December, A.D., 2000. BOARD OF COUNTY COMMISSIONERS ' ► W D COUNTY, COLO O EST �TT n arbara Kirkmeyer, hair � 'drC R4ifi o e Board lr v e M. y` 4� toeile, Pro-Teemm �`� •�� o the Boar-- — rge E. Baxter AP ED AST FO M: / Dale K. Hall bunt Attor ey Glenn Vaal— 2000-3262 PL1010 33(3 ASSIGNMENT AND ASSUMPTION OF IMPROVEMENTS AGREEMENTS THIS ASSIGNMENT AND ASSUMPTION OF IMPROVEMENTS AGREEMENTS (this "Agreement") is made and entered into as of the 26th day of December, 2000, by THE GENESEE COMPANY, a Colorado corporation ("Genesee"), and KATHARINE H. OLIVER (`Oliver"). RECITALS A. Oliver and the County of Weld, Colorado (the "County"), have heretofore entered into that certain Improvements Agreement According Policy Regarding Collateral for Improvements (Public Road Maintenance) dated November 15, 2000, and recorded in the records of the Weld County Clerk and Recorder's Office on December 1, 2000, as Reception No. 2810568 (the "Off-Site Agreement"), pursuant to which Oliver undertook to complete certain public improvements relating to Meadow Vale Farm P.U.D. Third Filing, as legally described on Exhibit A attached hereto (the "Subdivision"), all as more particularly set forth therein. B. Oliver and the County have heretofore entered into that certain Improvements Agreement According Policy Regarding Collateral for Improvements (Private Road Maintenance) dated November 15, 2000, and recorded in the records of the Weld County Clerk and Recorder's Office on December 1, 2000, as Reception No. 2810569 (the "On-Site Agreement"), pursuant to which Oliver undertook to complete certain public improvements relating to the Subdivision, all as more particularly set forth therein. C. The Off-Site Agreement and the On-Site Agreement are sometimes hereinafter referred to, together, as the "Improvements Agreements." D. As security for the performance of Oliver's obligations under the Improvements Agreements, Oliver provided the County with that certain Irrevocable Standby Letter of Credit No. 0500000101, dated October 30, 2000, issued by Centennial Bank of the West for the benefit of the County (the "Letter of Credit"). E. Genesee has heretofore acquired from Oliver eight(8) of the 14 platted lots within the Subdivision, and holds an option to purchase the remaining six (6) platted lots within the Subdivision. F. Oliver now desires to assign to Genesee, and Genesee now desires to assume, all of Oliver's rights and obligations under the Improvements Agreements, all on the terms and conditions set forth herein. G. In connection with the foregoing assignment and assumption, Genesee will substitute a surety bond (the "Bond") in lieu of the Letter of Credit as security for performance of its obligations under the Improvements Agreements. ]2/?8/003O2PM I111111111111111111III11111111111111111III11111IIIIIIII 2820338 01/19/2001 04:06P JA Suki Tsukamoto - 1 of 6 R 0.00 D 0.00 Weld County CO AGREEMENT NOW, THEREFORE, in consideration of the covenants and agreements set forth herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follow: 1. Assignment. Oliver hereby transfers and assigns to Genesee all rights and obligations of Oliver as "Applicant" under the Improvements Agreements, and Genesee assumes all of Oliver's obligations as "Applicant" under the Improvements Agreements. 2. Easement and Cooperation. Oliver hereby grants to Genesee an easement over all property within the Subdivision owned by Oliver, including all lots, tracts and open space, to the extent, and for such time as may be, reasonably required for Genesee to perform the development and other obligations contained in the Improvements Agreements, and Oliver agrees to reasonably cooperate with Genesee in connection therewith. Upon the earlier of the completion and acceptance by the County of the improvements under the Improvements Agreements, or December 31, 2002, the easement created hereunder shall terminate. 3. Effect. This Agreement shall not modify, alter or otherwise affect any of the obligations of Oliver or Genesee under that certain Purchase and Sale Agreement dated November 28, 2000, or the recorded Memorandum of Purchase and Sale Agreement dated December 13, 2000. 4. Successors and Assigns. The terms and provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto, any successor owners of any portion of the Subdivision, and heirs, successors and assigns of Genesee and Oliver, and the respective benefits and burdens hereunder shall run with the land. 5. Recitals. The Recitals set forth above are hereby incorporated into and made a part of this Agreement. 1111111 111111111111 III 11111111111111111 III 111111111 IIII 2820338 01/19/2001 04:06P JA Suki Tsukamoto 2 of 6 R 0.00 D 0.00 Weld County CO 12/28/003:02 PM 2 IN WITNESS WHEREOF, this Agreement is executed as of the day and year first above written. GENESEE: THE GENESEE COMPANY, a Colorado corporation By: Terry TICyger, Vice resident STATE OF COLORADO ) ss. COUNTY OF at/lerson' ) The foregoing instrument was acknowledged before me this 2t day of December, 2000, by Terry T. Kyger as Vice President of The Genesee Company. Witness my hand and official seal. My commission expires: / W/0 0`/ "•°OT'1 at ' Notary Public MID 11111 1111111111 11111111111 IIIIII III III" IIII IIII 2820338 01/19/2001 04:06P JA Suki Tsukamoto 3 of 6 R 0.00 0 0.00 Weld County CO 12/28/00 3 02 PM 3 OLIVER: tharine H. Oliver STATE OF COLORADO ) ss. COUNTY OF lvg ) -JatuActAAI The foregoing instrument was acknowledged before me this ZiAcA day of DwLuilx,T, -2809-by Katharine H. Oliver. Witness my hand and official seal. My commission expires: 7- —D 2- --Zee-2- K--Notary Public S O J'�� OR c01..- 11111111111111111111111111111111111 III 11111 1111 IIII 2820338 01/19/2001 04:06P JA Suki Tsukamoto 4 of 6 R 0.00 D 0.00 Weld County CO d 12/2S/00 J:02 PM 4 The undersigned Board of County Commissioners of Weld County, Colorado, acting on behalf of the County, hereby consent to the foregoing assignment and assumption of the Improvements Agreements, and agree to release the Letter of Credit to Oliver upon delivery and acceptance by the County of the Bond. BOARD OF COUNTY COMMISSIONERS WELD COUNTY, COLORADO ___, arbaraJ. Kirkmeyer,ea (/ M.J. elle, Chair Pro-Tern eorge E. axter Dale K.`1-Iall Glenn Vaad kidiet WifItl,doubly 0 the Board (/ A to the Board APPROVED AS TO FORM: v Z Count Attorney °°1 22 PM 5 1111111111111111111 III 11111111111111111 III 111111111 IIII 2820338 01/19/2001 04:06P JA Suki Tsukamoto 5 of 6 R 0.00 D 0.00 Weld County CO EXHIBIT A Legal Description of Subdivision MEADOW VALE FARM P.U.D. THIRD FILING, COUNTY OF WELD, STATE OF COLORADO. 12/28/00 02 PM 1 HID 11111 1111111 III 11111 Et 11111 III 11111 IIII El 2820338 01/19/2001 04:06P JA Suki Tsukamoto 6 of 6 fi 0.00 D 0.00 Weld County CO O'ertakill ,,3 , CR2c,(2.9CQ /-O3- Zoo 122;0101a IRREVOCABLE STANDBY LETTER OF CREDIT Standby Letter of Credit Number: 0500000101 Date: October 30, 2000 Beneficiary: COUNTY OF WELD 1555 NORTH 17TH AVENUE GREELEY, CO 80631 To Whom It May Concern: We, CENTENNIAL BANK OF THE WEST, hereby issue our IRREVOCABLE STANDBY LETTER OF CREDIT Number 0500000101 in your favor for the account of KATHARINE H OLIVER, up to the aggregate amount of Five Hundred Five Thousand & 00/100 Dollars 1$ 505,000.00). This amount is available upon presentation of your sight drafts or drafts drawn upon us, and accompanied by the following: EACH DRAFT MUST BE ACCOMPANIED BY A WRITTEN STATEMENT SIGNED BY A DULY AUTHORIZED OFFICER OF COUNTY OF WELD, STATING THAT THIS DRAW PERTAINS TO THE OBLIGATIONS SPECIFIED IN THE IMPROVEMENTS AGREEMENTS FOR THE ELMS AT MEADOW VALE AND THAT ELMS LAND COMPANY, LLC HAS NOT PERFORMED THE OBLIGATIONS AS SPECIFIED. This Letter of Credit expires on October 30, 2001. All drafts drawn under this Letter of Credit must contain the following statement: "Drawn under CENTENNIAL BANK OF THE WEST Irrevocable Letter No 0500000101 dated October 30, 2000." If the credit is available by negotiation, each presentation must be noted on the reverse of the advice by the bank where the credit is available. We hereby agree with the drawers, endorsers, and holders in due course of all drafts drawn under and in compliance with the terms of this Letter of Credit that such drafts will be duly honored by us upon presentation. The terms of this Letter of Credit will be duly honored at: CENTENNIAL BANK OF THE WEST 3561 STAGECOACH ROAD LONGMONT, CO 80504 This Letter of Credit is irrevocable, unconditional, nontransferable and non-assignable. Unless otherwise expressly stated, this Letter of Credit is subject to the International Chamber of Commerce, Uniform Customs and Practice for Commercial Documentary Credits; 1993 Revision - International Chamber of Commerce Publication No. 500. Sincerely. By: - d-4,.�._.. By: Authorized Signer Authorized Signer Title: Ser,L chr ti? i'-%1, C,, Title: _ December 26,2000 Lee D. Morrison Weld County 915 10th Street Greeley,CO 80632 Re: Surety Bond for The Genesee Company Dear Mr.Morrison: Enclosed is the Surety Bond for The Genesee Company. If you have any questions,please give me a call. Thank You. Sincerely, THE GENESEE COMPANY Craig R. Wagner Assistant Controller 603 Park Point Drive • Suite 201 • Golden, Colorado 80401 • (303( 526-9000 • Fax (303) 526-2157 SURETY BOND Bond Number: 064SB103475327BCM KNOW ALL MEN BY THESE PRESENTS, that we, The Genesee Company, 603 Park Point Drive, Suite 201, Golden, CO 80401, as Principal, and Travelers Casualty and Surety Company of America, a Connecticut corporation, authorized to do business in the State of Colorado as Surety, are held and firmly bound unto Weld County, CO, as Obligee, in the penal sum of Five hundred five thousand and no/100 Dollars ($505,000.00), lawful money of the United States of America, for the payment of which well and truly to be made, we bind ourselves, our heirs, executors, administrators, successors and assigns,jointly and severally, thinly by these presents. Whereas, The Genesee Company has agreed to construct in Meadow Vale Fain! PUD, Third Filing, in Weld County, CO all improvements necessary to complete and make permit ready lots 1-3, Block 1, lots 1-3, Block 2 and lots 1-8, Block 3. NOW, THEREFORE, THE CONDITIONS OF THIS OBLIGATION IS SUCH, that if said Principal shall construct, or have constructed, the improvements herein described and shall save the Obligee harmless from any loss, cost or damage by reason of its failure to complete said work to the obligee's specifications, then this obligation shall be null and void; otherwise to remain in full force and effect. Singed, sealed and dated this 27th day of December , 2000. Principal: The Genesee Company BY; --�� Vice. prev,cl Surety: Travelers Casualty and Surety Company of America d-eoeak-ee- tricia G. Caldwell, Attorney-in-fact TRAVELERS CASUALTY AND SURETY COMPANY OF AMERICA TRAVELERS CASUALTY AND SURETY COMPANY FARMINGTON CASUALTY COMPANY Hartford, Connecticut 06183-9062 TRAVELERS CASUALTY AND SURETY COMPANY OF ILLINOIS Naperville,Illinois 60563-8458 POWER OF ATTORNEY AND CERTIFICATE OF AUTHORITY OF ATTORNEY(S)-IN-FACT KNOW ALL PERSONS BY THESE PRESENTS, THAT TRAVELERS CASUALTY AND SURETY COMPANY OF AMERICA, TRAVELERS CASUALTY AND SURETY COMPANY and FARMINGTON CASUALTY COMPANY, corporations duly organized under the laws of the State of Connecticut, and having their principal offices in the City of Hartford, County of Hartford, State of Connecticut, and TRAVELERS CASUALTY AND SURETY COMPANY OF ILLINOIS, a corporation duly organized under the laws of the State of Illinois, and having its principal office in the City of Naperville, County of DuPage, State of Illinois, (hereinafter the "Companies") hath made, constituted and appointed, and do by these presents make, constitute and appoint Fred Viehmann,Daniel B. Sprouse,Joyce Norris,Patricia G. Caldwell, R. Dick Maynard,Jr., Donald S. Denbo,Stephen C. Lee or Robert P. Alexander* * of Nashville, TN, their true and lawful Attorney(s)-in-Fact, with full power and authority hereby conferred to sign, execute and acknowledge, at any place within the United States, or, if the following line be filled in, within the area there designated the following instrument(s): by his/her sole signature and act, any and all bonds, recognizances, contracts of indemnity, and other writings obligatory in the nature of a bond, recognizance, or conditional undertaking and any and all consents incident thereto and to bind the Companies,thereby as fully and to the same extent as if the same were signed by the duly authorized officers of the Companies, and all the acts of said Attorney(s)-in-Fact,pursuant to the authority herein given, are hereby ratified and confirmed. This appointment is made under and by authority of the following Standing Resolutions of said Companies, which Resolutions are now in full force and effect: VOTED: That the Chairman,the President,any Vice Chairman,any Executive Vice President,any Senior Vice President, any Vice President,any Second Vice President, the Treasurer, any Assistant Treasurer,the Corporate Secretary or any Assistant Secretary may appoint Attorneys-in-Fact and Agents to act for and on behalf of the company and may give such appointee such authority as his or her certificate of authority may prescribe to sign with the Company's name and seal with the Company's seal bonds,recognizances,contracts of indemnity, and other writings obligatory in the nature of a bond,recognizance,or conditional undertaking,and any of said officers or the Board of Directors at any time may remove any such appointee and revoke the power given him or her. VOTED: That the Chairman, the President, any Vice Chairman,any Executive Vice President, any Senior Vice President or any Vice President may delegate all or any part of the foregoing authority to one or more officers or employees of this Company,provided that each such delegation is in writing and a copy thereof is filed in the office of the Secretary. VOTED: That any bond, recognizance, contract of indemnity, or writing obligatory in the nature of a bond, recognizance, or conditional undertaking shall be valid and binding upon the Company when(a)signed by the President,any Vice Chairman,any Executive Vice President,any Senior Vice President or any Vice President, any Second Vice President, the Treasurer, any Assistant Treasurer, the Corporate Secretary or any Assistant Secretary and duly attested and sealed with the Company's seal by a Secretary or Assistant Secretary,or(b)duly executed(under seal, if required)by one or more Attorneys-in-Fact and Agents pursuant to the power prescribed in his or her certificate or their certificates of authority or by one or more Company officers pursuant to a written delegation of authority. This Power of Attorney and Certificate of Authority is signed and sealed by facsimile under and by authority of the following Standing Resolution voted by the Boards of Directors of TRAVELERS CASUALTY AND SURETY COMPANY OF AMERICA, TRAVELERS CASUALTY •AND SURETY COMPANY, FARMINGTON CASUALTY COMPANY and TRAVELERS CASUALTY AND SURETY COMPANY OF ILLINOIS,which Resolution is now in full force and effect: VOTED: That the signature of each of the following officers: President, any Executive Vice President, any Senior Vice President, any Vice President, any Assistant Vice President, any Secretary, any Assistant Secretary, and the seal of the Company may be affixed by facsimile to any power of attomey or to any certificate relating thereto appointing Resident Vice Presidents,Resident Assistant Secretaries or Attorneys-in-Fact for purposes only of executing and attesting bonds and undertakings and other writings obligatory in the nature thereof,and any such power of attorney or certificate bearing such facsimile signature or facsimile seal shall be valid and binding upon the Company and any such power so executed and certified by such facsimile signature and facsimile seal shall be valid and binding upon the Company in the future with respect to any bond or undertaking to which it is attached. (8-97) IN WITNESS WHEREOF, TRAVELERS CASUALTY AND SURETY COMPANY OF AMERICA, TRAVELERS CASUALTY AND SURETY COMPANY, FARMINGTON CASUALTY COMPANY and TRAVELERS CASUALTY AND SURETY COMPANY OF ILLINOIS have caused this instrument to be signed by their Senior Vice President, and their corporate seals to be hereto affixed this 20th day of December, 1999. STATE OF CONNECTICUT TRAVELERS CASUALTY AND SURETY COMPANY OF AMERICA TRAVELERS CASUALTY AND SURETY COMPANY }SS. Hartford FARMINGTON CASUALTY COMPANY COUNTY OF HARTFORD TRAVELERS CASUALTY AND SURETY COMPANY OF ILLINOIS FlM 6�FlY „ ,,,WY ANps OASU4�j so swim. _ _ h j "' HARTFORD, �S ao. < 0 t9 B 2�' o � SEAL� '� BY e ' r° 14:d x <„Nrpl George W. Thompson oYa + n,,+° -bey . Al' �i s Senior Vice President On this 20th day of December, 1999 before me personally came GEORGE W. THOMPSON to me known, who, being by me duly sworn, did depose and say: that he/she is Senior Vice President of TRAVELERS CASUALTY AND SURETY COMPANY OF AMERICA, TRAVELERS CASUALTY AND SURETY COMPANY, FARMINGTON CASUALTY COMPANY and TRAVELERS CASUALTY AND SURETY COMPANY OF ILLINOIS, the corporations described in and which executed the above instrument; that he/she knows the seals of said corporations; that the seals affixed to the said instrument are such corporate seals; and that he/she executed the said instrument on behalf of the corporations by authority of his/her office under the Standing Resolutions thereof. p.7lT Q ftizii tI(�' * t My commission expires June 30, 2001 Notary Public Marie C. Tetreault CERTIFICATE I, the undersigned, Assistant Secretary of TRAVELERS CASUALTY AND SURETY COMPANY OF AMERICA, TRAVELERS CASUALTY AND SURETY COMPANY and FARMINGTON CASUALTY COMPANY, stock corporations of the State of Connecticut, and TRAVELERS CASUALTY AND SURETY COMPANY OF ILLINOIS, stock corporation of the State of Illinois, DO HEREBY CERTIFY that the foregoing and attached Power of Attorney and Certificate of Authority remains in full force and has not been revoked; and furthermore, that the Standing Resolutions of the Boards of Directors, as set forth in the Certificate of Authority, are now in force. ' Signed and Sealed at the Home Office of the Company, in the City of Hartford, State of Connecticut. Dated this 9, J day of r` ,` • I't rNy N1/21,12/, . „-t-e tb J„,. Mp GASH,,4S o Sgt Dr OI{,0(1 cc:'1 HANTPo"D, U' 1982 Oo By CONN.�/I 1 CONNy 1 +D; '$a ,(mi 5 Kori M. Johanson i'n'�laA `61 . 'N+a bky ).# °a-i sN Assistant Secretary, Bond P. 01 TRANSACTION REPORT NOV-25-2002 MON 04:44 PM FOR: WELD CO GOVT 9703520242 X * DATE START RECEIVER TX TIME PAGES TYPE NOTE M1« DP * NOV-25 04:44 PM 916153727787 30" 1 SEND OK 167 z TOTAL : 30S PAGES: 1 **************arc*****rte*****>:***rte*x*art**************************Xixzr: *****xx******rtx*****r{x******* ?red 57c r ff--d a Anita L McCumber \ The Horizon Center cap "S �> Travelers', 9020 Overlook Blvd.,2m i Boor 3 BRENTWOOD,TN 3702 Phone: (615)372-7700 Fax: (615)372-7787 Weld county Octol er 29,2002 915 Tenth Street GREELEY,CO 80632 XCON TRACT STATUS REPORT Sub-Division Bond Contractors Name and address: Bond Information: TIE GENESEE COMPANY Obligee name: Weld county 603 PARK POINT DRIVE,SUITE 201 Bond Number:103475327 GOLDEN,COLORADO 80401 Effective date: December 27,2002 Bond Amount 8505,000.00 Surety Company:Travelers Casualty:nd Surety Company of America Contract Description: Project Ntlmberr ProjeQCFlame:_Meadow Vale Fs Project Doscnpuon: Subdivision Bond If sub-division site improvement work is completelplease state: Date Bond Exonerated: Resolution Number: If sub-division work Is not complete,please state: Is Progress satisfactory? Percentage Completed Probable date of con pletion: Ej Yes No 34 Anita L McCumber The Horizon Center Travelers J 9020 Overlook Blvd.,2nd floor BRENTWOOD,TN 37027 Phone: (615)372-7700 Fax: (615)372-7787 Weld county October 29,2002 915 Tenth Street GREELEY,CO 80632 )(CONTRACT STATUS REPORT Sub-Division Bond Contractors Name and address: Bond information: THE GENESEE COMPANY Obligee name:Weld county 603 PARK POINT DRIVE,SUITE 201 Bond Number:103475327 GOLDEN,COLORADO 80401 Effective date:December 27,2002 Bond Amount$505,000.00 Surety Company:Travelers Casualty and Surety Company of America Contract Description: Project Number: Project Name : Meadow Vale Farm PUD,Third Filing Project Description: Subdivision Bond If sub-division site improvement work is complete,please state: Date Bond Exonerated: Resolution Number: If sub-division work is not complete,please state: Is Progress satisfactory? Percentage Completed Probable date of completion: Yes No Underwriter Comments : X Please note any remarks/comments: The Genesee Company of Golden Colorado has not completed the on-site improvements addressed under the referenced subdivision bond. It is understood that the information contained herein is furnished for the confidential use of Travelers Casualty and Surety Company of America and is merely an expression of opinion. Completed b I- {M Title p�)...AIst�� ft 1 Signature I" Phone# 41 53 & WO r j Fax 611.0 Li 1O61O E-mail y�v( L C G17. wC461-110- 1.4 If your address has changed,check this box and print your new address on the back of the form. Please return this form in the enclosed self-addressed envelope or fax to the underwriter listed above S-5399(4/01) • Anita L McCumber The Horizon Center Travelers/3 9020 Overlook Blvd.,2nd floor BRENTWOOD,TN 37027 Phone: (615)372-7700 Fax: (615)372-7787 Weld county October 29,2002 915 Tenth Street GREELEY,CO 80632 )(CONTRACT STATUS REPORT Sub-Division Bond Contractors Name and address: Bond information: THE GENESEE COMPANY Obligee name:Weld county 603 PARK POINT DRIVE,SUITE 201 Bond Number:103475327 GOLDEN,COLORADO 80401 Effective date:December 27,2002 Bond Amount$505,000.00 Surety Company:Travelers Casualty and Surety Company of America !—Contract Description: Project Number: Project Name: Meadow Vale Farm PUD,Third Filing Project Description: Subdivision Bond If sub-division site improvement work is complete,please state: Date Bond Exonerated: Resolution Number: If sub-division work is not complete,please state: Is Progress satisfactory? Percentage Completed Probable date of completion: Yes No Underwriter Comments : Please note any remarks/comments: The Genesee Company of Golden Colorado has not completed the on-site improvements addressed under the referenced subdivision bond. It is understood that the information contained herein is furnished for the confidential use of Travelers Casualty and Surety Company of America and is merely an expression of opinion. KIM OGLE Tide PLANNER III Completed bik Signature Phone# 970 353 r07; 3540 Fax 970 304 6498 E-mail KOGLE@CO.WET.0.CO.TIS If your address has changed,check this box and print your new address on the back of the form. Please return this form in the enclosed self-addressed envelope or fax to the underwriter listed above S-5399(4/01) Travelers,' Joy Hartsfield 1 SRr iGl J Account Manager Travelers Bond One Tower Square 9020 Overlook Blvd. Hartford,CT 06183 Brentwood, TN 37027 Phone:615-372-7706 Fax:615-372-7787 kqt 9-2-02 /P -3 P -3 ,ry 41 074- Weld County / 1555 N. 17th Ave. Greely, CO 80631 To Whom It May Concern: Travelers Casualty and Surety agreed to write a Subdivision bond for Genesee Company, 603 Park Point Drive, Suite 201, Golden CO 80401, for the Elms at Meadow Vale subdivision. This was to cover all on and off improvements, case number S-579 in the Memorandum from Weld County date 4-20-02. We have been informed by the Principal (Genesee Company) that the bond was not needed and was destroyed. In order for us to close our file we require the original bond be returned. However, since the original of this bond was destroyed, I need for you to acknowledge that you do not have a bond on file by accepting the letter in the space indicated and return. Should you have any questions or need to discuss, please contact me at the number shown above. Thank you, Joy Hartsfield Signature below assures Subdivision Bond #103760762 is not required by Weld County; however, B d #064SB103475327BCM is still required. V- m2cdm Vol Accepted Forms Pup 3`� eld County o. (aUJG- 3LkZ) PUBLIC WORKS DEPARTMENT 1111 H STREET, P.O. BOX 758 GREELEY, COLORADO 80632 WEBSITE: WWW.CO.WELD.CO.US PHONE(970) 356-4000, EXT. 3750 FAX: (970) 304-6497 January 9, 2008 Catherine and Floyd Oliver c/o Elms Land Company, LLC 2385 Homestead Place Longmont, Colorado 80504 The Genesse Company 603 Park Point Drive, Suite 201 Golden, Colorado 80401 Re: Elms at MeadowVale— Filing 3 Dear Mr. and Mrs. Oliver: We have received, through your civil engineer, the request to release remaining collateral for the On-Site Improvements for the Third Filing, Elms at MeadowVale. Weld County Public Works cannot recommend release of the collateral at the present time due to the current condition of the improvements. Our recommendations are below. To summarize the relevant project history, and as discussed with your engineer at the site and in e-mails: The 1-year infrastructure warranty period began in February, 2006 even though all the construction work was not completed. Additional work required at that time included asphalt paving around water valves, asphalt repairs and patches, and repairs to cracked concrete sidewalks and cross-pans. The locations of these items needing repairs were marked and communicated to the developers site engineer by Weld County construction inspectors in February 2006. Due to the annual seasonal shut-down of asphalt plants, it was mutually agreed at that time to defer the repairs until the repairs and work could proceed with adequate materials and proper temperature conditions for the construction. The end of the warranty period would normally have occurred in February 2007 at which time a follow-up inspection by Weld County Public Works would have occurred to verify that the work was complete and of acceptable quality. Had the improvements been of acceptable quality at that time, the developer could then apply for release of collateral. However, the workmanship and condition of the improvements were not acceptable. Work on the water valve paving collars and asphalt patch areas was complete on 3-27-2007; however the concrete cross-pan and sidewalk repairs had not been performed and still have not been performed. In the interim period, while waiting for the repairs on the sidewalks to be et;7t "I7 a'4w'1 o _ :107 /- /6 SJ dGc/0/ /ODD complete, more areas in the asphalt paving have started to fail. The attached February 2007 photos show the lack of acceptable quality work at that time, additional photos are also attached. These findings were communicated to the developer's engineer at that time. It is our opinion that the paving and concrete cracking is due to insufficient or incorrect sub-grade preparation. In summary: Weld County has never accepted the Filing 3 improvements, therefore no collateral should be released at this time until the improvements are of acceptable quality. At this point the options are: 1. Developer performs the previously requested repairs; Weld County Public Works will inspect the repairs, and if the workmanship and materials are acceptable, initiate a new warranty period for the repaired items. Infrastructure items that have completed their one-year warranty period and are acceptable are eligible for a partial collateral release. 2. Weld County Public Works or its contractor performs the required repairs; Weld County Public Works will inspect the repairs, and if the workmanship and materials are acceptable, initiate a new warranty period for the repaired items. Cost of the repairs will be deducted from the collateral amount held by the County. Infrastructure items that have completed their one- year warranty period and are acceptable are eligible for a partial collateral release. Weld County Public Works wishes to resolve this issue at the earliest opportunity. Please respond in writing by February 8, 2008. Sincerely, Josh Holbrook Lead Inspector David Bauer, P.E. Chief Senior Engineer pc: Kim Ogle, Planning Services Stephanie Arries, County Attorney M:\PLANNING-DEVELOPMENT REVIEW\Collateral\Elms At MeadowvaleW0ReleaseLtr1-8-08.DOC CLERK TO THE BOARD PHONE (970) 336-7215, Ext. 4225 FAX: (970) 352-0242 P. O. BOX 758 GREELEY, COLORADO 80632 C. COLORADO June 24, 2009 Travelers Casualty and Surety Company of America 1 Tower Square Hartford, Connecticut 06183-0001 RE: Surety Bond #064SB103475327BCM for The Genesee Company Ladies and Gentlemen: This letter shall act as a reminder to you of your obligations to the Board of County Commissioners of Weld County under the above-referenced Performance Bond. As you are aware, on the 27th day of December, 2000, Travelers Casualty and Surety Company of America, issued a Surety Bond on behalf of The Genesee Company, naming the Board of County Commissioners of Weld County as beneficiary. The dollar amount of the Surety Bond was established at Five Hundred Five Thousand and no/100 Dollars ($505,000.00). The terms of the Surety Bond do not list a termination date. If the bond expires, you must replace it. If you have any questions regarding this letter or your obligations under the Surety Bond, or if you disagree with any statement contained in this letter, please call Donna Bechler, at 970-356-4000, ext. 4227, or e-mail me at dbechler@co.weld.co.us. Very truly yours, giSaAdff Donald D. Warden Clerk to the Board By: Deputy Cler o the Board pc The Genesse Company/Catherine and Floyd Oliver , h ‘ill 44, ::, la M MOO 2 C� W 0 0 y N O 2 �� Ri ( h tR a 5 r- or COLORADWI I P O Su� ,� N o g IA o Gy ,v Marc I - o - UDC C) June 24, 2009 41)31/NO 02 2 io2 u t*:. A y�# ;;` 0 ' OWO - Travelers Casualty and Surety Company of P : ,_,1�?,yam+;� N a �� 1 Tower Square , f W z¢w w -' Hartford, Connecticut 06183-0001 ' Z H n jiXw 0 0 !->C 0 = SSV131Sard Q 0 wart r. _ RE: Surety Bond #064SB103475327BCIV oaiaosaad IL C r rcw o 2a a m = Ladies and Gentlemen: u Z 2 - o W O w o © -= W d O x Z = This letter shall act as a reminder to you of d H = Weld County under the above-referenced F .r W Q a H m ui As you are aware, on the 27th day of Decen W M 0 America, issued a Surety Bond on behalf c' i S O O Commissioners of Weld County as beneficia 1— to 0 at Five Hundred Five Thousand and no/100 The terms of the Surety Bond do not list a ter it • If you have any questions regarding this lette disagree with any statement contained in this p (11 r'} 4227, or e-mail me at dbechler@co.weld.co.r Q 0,9 <C O o r.7 Very truly yours, m co tidia% al 00 O l-X in r•-• O X S: Donald D. Warden f- m 2 Clerk to the Board Y 0 L ! � '1 a3A. E . A W O By.: -i%�_�t ,, c.ea O I bZ N(lf 6001 Deputy Clerk-th the Board S83N01SSIWW03 pc The Genesse Company/Catherine and I -p,P Ad�S A114,11103 1313M J1' a vs 'NES ite 3.$ • • • U.S. Postal Service,. m CERTIFIED MAIL, RECEIPT D" (Domestic Mail Only;No Insurance Coverage Provided) rR F rdelivery inf•rmeti nvisit ur we•site at www,us•s.c• Lr1 rtf N U, Postage $ O Certified Fee /;1 Postmark, O Return Receipt Fee Here (Endorsement Required) !O Restricted Delivery Fee / (Endorsement Required) /V a10 Total Postage 8 Fees $ u7 Sent To •� f` sir Mile/t,} ors e'45.&,VIrro' rPty �4 ef{.f..f/J.er:C.4 or PO Box No..` '/t.No.; /rower c City, to ZIP Prnrla' e7` :5;6/ . ODD/ „ • SENDER: COMPLETE THIS SECTION COMPLETE THIS SECTION ON DELIVERY • Complete items 1,2,and 3.Also complete A. Signature yyg� item 4 if Restricted Delivery is desired. X • 'wiPA/ 2 ❑Agent II Print your name and address on the reverse 9 n so that we can return the card to you. Addressee • Attach this card to the back of the mailpiece, Received by(Printed Name) C. Date of Delivery or on the front if space permits. 1. Article Addressed to: D. Is delivery address different from item 1? O Yes If YES,enter delivery address below: O No �rrtlie%rs(lsud/+K.Srr@ C/o / T/VP r / � 3. Service Type flf r er t7!/ cn7/ I8-Certified Mail ❑ Express Mail W lG O ❑ Registered m.Rerfirn Receipt for Merchandise O Insured Mail O C.O.D. 4. Restricted Delivery?(Extra Fee) 0 Yes 2. Article Number 7005 1820 0003 5225 1980 (Transfer from service label) - PS Form 3811,February 2004 Domestic Return Receipt 102595-02-M-1590 • Donna Bechler From: Donna Bechler nt: Tuesday, July 28, 2009 12:49 PM Kim Ogle; Bruce Barker; Stephanie Arries; Donald Carroll; Richard Hastings; Josh Holbrook; Don Dunker Subject: FW: Bond#064SB10347527BCM Attachments: 103475327.pdf; Lennar.pdf I received this e-mail from Travelers Casualty and Surety regarding the Subdivision Bond we are holding for Meadow Vale Farm. We have the original bond in our safe because we were not notified that this bond was going to be released. The notation we have on this company from our work session states that the collateral should not be released because "it is a disaster". The bond company tells us it was released pursuant to a memo they received dated January 26, 2009. What now????????? Donna From: Lisa Crail [mailto:Lisa_Crail@ars.aon.com] Sent: Tuesday, July 28, 2009 11:45 AM To: Donna Bechler; Don Dunker; Josh Holbrook Subject: Bond #0645B10347527BCM Donald Attached please find your correspondence to Travelers Casualty and Surety Company of America dated June 26, 2009, which was forwarded to my attention from Kyle King at Travelers. ease be advised that this bond is a non-cancellable bond and does not technically expire. A release from Weld County is required to release this bond. Also attached below is a memo from Josh Holbrook to Don Dunker dated 1/28/08 (which we believe should be 1/28/09) which states the bond can be released, as the final punch list item had been satisfied. Although we would like a signed copy of this memo, Travelers did accept this memo as evidence of release and has allowed cancellation of this bond. Please confirm that the improvements covered under this bond have been completed and accepted and that the bond can be released. Please let me know if you have any questions. Thank you for your help. Lisa K Crail Director, Surety Operations Aon Risk Insurance Services West Construction Services Group -Surety 1901 Main Street, Suite 300 Irvine CA 92614 949/608-6306 ph 949/608-6468 fax 909/227-2326 mobile email: lisa crailaars.aon.com • 1 • Donna Bechler From: Lisa Crail [LisaCrail@ars.aon.com] nt: Tuesday, July 28, 2009 11:45 AM Donna Bechler; Don Dunker; Josh Holbrook object: Bond#064SB10347527BCM Attachments: 103475327.pdf; Lennar.pdf Donald Attached please find your correspondence to Travelers Casualty and Surety Company of America dated June 26, 2009, which was forwarded to my attention from Kyle King at Travelers. Please be advised that this bond is a non-cancellable bond and does not technically expire. A release from Weld County is required to release this bond. Also attached below is a memo from Josh Holbrook to Don Dunker dated 1/28/08 (which we believe should be 1/28/09) which states the bond can be released, as the final punch list item had been satisfied. Although we would like a signed copy of this memo, Travelers did accept this memo as evidence of release and has allowed cancellation of this bond. Please confirm that the improvements covered under this bond have been completed and accepted and that the bond can be released. Please let me know if you have any questions. Thank you for your help. Lisa K Crail Director, Surety Operations n Risk Insurance Services West nstruction Services Group- Surety 1901 Main Street, Suite 300 Irvine CA 92614 949/608-6306 ph 949/608-6468 fax 909/227-2326 mobile email: lisa crail(a�ars.aon.com • 1 MEMORANDUM DATE: 1-26-2008 • TO: Don Dunker wiipeFROM: Josh Holbrook, PW Lead Construction Inspector COLORADO SUBJECT: Elms at Meadow Vale— Filing #3 Don, On January 26`h, 2009 I received the last item on the punch listed dated 7-8-08. I have received all the required documents and a complete set of as-built plans. Weld County is holding a surety bond (#064SB103475327BCM) in the amount of $505,000.00 from Travelers Casualty and Surety Company of America. This amount can be released, ending their one year warranty period. Elms at Meadow Vale 3r° filing is a public road and will become the responsibly of Weld County Public works to maintain. • • P.Vhofile,kIcrzill[.OCALS—I\Temp\notcs36E 124-8607422.doc Page 1 of 1 • Kilat74% , DEPARTMENT OF PLANNING SERVICES Greeley Planning Office 918 Tenth Street WI Greeley, Colorado 80631 WEBSITE: www.co.weld.co.us 'pc, E-MAIL: kogle@co.weld.co.us PHONE (970) 353-6100, EXT. 3549 FAX (970) 304-6498 COLORADO July 29, 2009 Ms. Lisa K Crail Director, Surety Operations Aon Risk Insurance Services West Construction Services Group - Surety • 1901 Main Street, Suite 300 Irvine CA 92614 Subject: Surety Bond #064SB103475327BCM • Dear Ms. Crail: The Department of Planning Services in conjunction with the County Attorney's office and the Office of the Clerk to the Board have reviewed the request for written confirmation from Aon Risk Insurance Services West as requested in an electronic mail to Donna Bechler dated July 28, 2009. The Department of Planning Services has reviewed the documentation provided and finds, the Surety Bond #064SB103475327BCM referenced in the memorandum dated January 26, 2008 from Holbrook to Dunker is not for the Elms at Meadow Vale Third Filing. This Surety Bond is for Meadow Vale Farm PUD, Third Filing as stated in the second paragraph of the Surety Bond. The improvements for this project have not been completed as outlined in the letter to Craig Wagner, Assistant Controller, and The Genesse Company dated April 1, 2009. The established protocol for release of any collateral held by the Weld County Board of County Commissioners is to request in writing release of the collateral to the Department of Planning Services. Prior to release of the collateral, two site inspections are performed by staff to address the transportation (Public Works) and non-transportation (Planning) components of the • development. Evaluation by staff will determine if a full release or a partial release is warranted. As outlined in your electronic mail, this action was not conducted as to the established practice, hence the full release of collateral was not per Weld County protocol. • Given this current condition, Weld County Government respectfully requests that the Surety Bond be replaced or reinstated to cover the outstanding improvements associated with the Meadow Vale Farm PUD, Third Filing. Should you have additional questions or require clarification on any of the points presented herein, please contact this office. Thank you for your inquiry. Sincerely, Kim Ogle Planning Services Enclosures pc: S.Arries,Attorney's Office R. Hastings. Public Works D. Bauer,Public Works D.Bechler,Clerk to the Board Property research • • • \ DEPARTMENT OF PLANNING SERVICES Greeley Planning Office 918 Tenth Street liD Greeley, Colorado 80631 WEBSITE: www.co.weld.co.us c, . E-MAIL: kogle@co.weld.co.us PHONE (970) 353-6100, EXT. 3549 FAX (970) 304-6498 COLORADO April 1, 2009 Craig Wagner Assistant Controller The Genesse Company 603 Park Point Drive, Suite 201 Golden Colorado • Subject: Meadow Vale Farms, Filing 3 Planning Case No. S-562 Dear Mr. Wagner: The Department of Planning Services at the request of the Department of Public Works, conducted a field assessment to determine if the approved improvements had been completed for the non-transportation items as outlined on drawings prepared by bha design, inc. of Fort Collins, Colorado and recorded per reception number 2797962 on October 4, 2000. The Department of Planning Services has the following comments: The entrance road to the development is missing three evergreen trees south side of Edgewater Road and two deciduous trees on the north side of the road. The development sign is present and is landscaped. Please make arrangements to replace this missing plant material. The minimum plant material size is specific in Section 2.6.4.2.b of the Mixed Use Development Plan, Ordinance 191, dated September 1, 1996 identifies a 2 '/ inch caliper shade tree and a 6-foot minimum height coniferous tree. The extension of Edgewater Place to the South, within the pedestrian access easement between Lot 1 and lot 14 is missing three deciduous trees. Please make arrangements to replace this missing plant material. The minimum plant material size is specific in Section 2.6.4.2.b of the Mixed Use Development Plan, Ordinance 191, dated September 1, 1996 identifies a 2 ' inch caliper shade tree and a 6-foot minimum height evergreen tree. • Parcel D identified on drawings prepared by bha design, inc. of Fort Collins, as the "Weld County Library Site and Open Space/Wetlands" area has been recently hydro-mulched with an unknown • grass seed in areas to the East of the pedestrian access. Area to the west of the pedestrian access is in native grasses and the entire site appears to be non-irrigated, even though there is physical evidence of an irrigation system in place. Further the three deciduous trees to the west property line in an area above the escarpment are not present. The 3-rail fence delineated on the drawing located at the edge of this physical feature is not constructed. This fence as proposed was to directed pedestrian movement from County Road 5.5 to the easternmost property line, through a gate and onto lands which run parallel to the eastern edge of the lake. This component of the internal private trail, fencing and gate require installation and maintenance. This condition requires immediate address in 2009. The areas adjacent to the southwestern and southern edge of the lake have established vegetation and newly planted trees of one inch minus caliper for all deciduous trees. The trees are staked with a lone capped bamboo stake and tied to the tree with nurserymen's tape. Each tree also has metal stake lying on the ground adjacent to the tree. Visual inspection identified several tree stems cut to grade that have been removed due to unknown circumstances. As previously stated, Section 2.6.4.2.b of the Mixed Use Development Plan, and identifies a 2 % inch caliper shade tree and a 6-foot minimum height evergreen tree as the standards for plant material in the Mixed Use Development area. The plant material in all locations on this property must meet this minimum standard. The ground plane has a stone fines base for the trail and is compacted and apparently well utilized. A similar condition is present in the southeast corn of the private lake. The plant materials identified on the bha design drawings is not reflect in the field condition. The trees that are on site are predominately dead, with the London Plane tree(s) and the Honeylocust tree(s) surviving • and holding their own; however, all trees appear to be stressed and appear to have limited new growth. The ground plane vegetation is a native grass that appears to be spotty and having difficulty in sustaining new growth. This condition is a direction result of an underutilized and inoperable irrigation system. This condition requires immediate address for the spring and summer months of 2009. The existing trees adjacent to the eastern lake edge and property line have been eradicated, cut to the ground plane. As stated for the area in the southeastern part of the lake, the remaining trees planted in a lineal configuration adjacent to the eastern property line are predominately dead, yet to be removed. The plant materials in this area require replacement, thereby meeting the intent of the approved Landscape Plan associated with this development. Parcel C, the Private Park, including the private lake access and parking area is also not in compliance with the approved Landscape plan for the Meadow Vale Farms PUD. The drawings prepared by bha design, inc. of Fort Collins indicates a locked gate will restrict access to this gravel road. This gate does not exist and has apparently not been constructed. The parking area, the internal graveled access and the boat ramp to the private lake are not constructed as per the plans. All plant materials that are to be planted in the private park are not in place, further the on-site irrigation system appears to be in place yet in-operable. Visual inspection determined signs notifying the public of a private use exist, however the approved locations was not evident. Further, Parcel A to the North of the private park lacks three deciduous trees as delineated on the approved plans. Based on the site investigation performed by the Department of Planning Services, the request for release of monies associated with this subdivision is premature as the landscape component, • including fencing, tree and turf plantings have not been installed or constructed per the Landscape Plan of record, prepared by bha design, inc. of Fort Collins, Colorado and recorded per reception number 2797962 on October 4, 2000. The Department of Planning Services requests that a schedule be presented for completion of all approved improvements be constructed and /or planted per the approved plans. When completed with this action, please contact this office for a follow-up inspection. Thank you. Sincerely, Kim Ogle Planning Services Enclosures ec: B. Barker,Attorneys Office E.Gesick,CTB T.Honn, Building/Planning D.Bauer,Public Works D.Dunker, Public Works D.Carroll, Public Works J. Holbrook, Public Works File: S-562 • • Hello