HomeMy WebLinkAbout20001875 RESOLUTION
RE: APPROVE CANCELLATION AND RELEASE OF COLLATERAL AND ACCEPT
REPLACEMENT COLLATERAL FOR REMINGTON PLACE MINOR SUBDIVISION,
S #505 - LESLIE AND JEANNE GELVIN
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 February 2, 2000, the Board did approve an
Improvements Agreement According to Policy Regarding Collateral for Improvements (Private
Road Maintenance) with Leslie and Jeanne Gelvin, concerning property described as Lot A of
Recorded Exemption #1723; located in the NE1/4 of Section 7, Township 7 North, Range 67
West of the 6th P.M., Weld County, Colorado, and
WHEREAS, pursuant to said Improvements Agreement, Irrevocable Letter of Credit
#187, in the amount of $29,705.00 drawn on the First Pioneer National Bank, P.O. Box 96,
Wray, Colorado 80758, was submitted to Weld County, and
WHEREAS, staff from the Weld County Departments of Planning Services and Public
Works have conducted a visual inspection of the project and recommend cancellation and
release of said collateral, with 15 percent of the total amount to be retained for a one-year
period, and
WHEREAS, Leslie and Jeanne Gelvin have presented $500.00 to Weld County to be
retained for a one-year period, and
WHEREAS, the Board of County Commissioners deems it advisable to cancel and
release Irrevocable Letter of Credit#187, in the amount of$29,705.00 drawn on the First
Pioneer National Bank, P.O. Box 96, Wray, Colorado 80758, and to accept $500.00 from Leslie
and Jeanne Gelvin.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of
Weld County, Colorado, that Irrevocable Letter of Credit#187, in the amount of $29,705.00
drawn on the First Pioneer National Bank, P.O. Box 96, Wray, Colorado 80758, 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 by the Board that $500.00 from Leslie and Jeanne
Gelvin, be, and hereby is, accepted.
1111111 111111111111111 VIII 1111111 VIII III (IIII IIII IIII 2000-1875
2787355 08/15/2000 03:37P JA Sukr Tsukamoto PL1275
1 of 2 R 0.00 0 0.00 Weld County CO re. : PL. Pik), -tie /9.4ii
CANCEL COLLATERAL - LESLIE AND JEANNE GELVIN - REMINGTON PLACE (S #505)
PAGE 2
The above and foregoing Resolution was, on motion duly made and seconded, adopted
by the following vote on the 7th day of August, A.D., 2000.
BOARD OF COUNTY COMMISSIONERS
�� WELD COUNTY, COLORADO
/
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ATTEST: :2 4-7 A \
. ' tt('/%L.17. t_---
\ Barbara J. ' meyer, hair -
Weld County Clerk to the :o• % C U' ice'/7 i
isci ft"
61/2
� . J. eile, Pro-Tem ---
BY: •
Deputy Clerk to the f ) , a-e N EXCUSED DATE OF SIGNING (AYE)
George E. Baxter
APPI1162 D A ORM:
Dale K. Hall
�� /9y 1/
,E"ountyyAttor y 47v/ d %�
Glenn \/aad------- -
1111111111111111111III 11111111111111111 III 11111 IIII IIII 2000-1875
2787355 08/15/2000 03:37P JA Suki Tsukamoto PL1275
2 of 2 R 0.00 D 0.00 Weld County CO
cataTi MEMORANDUM
Wua TO: Board ofl County Commissioners DATE: August 2, 2100
COLORADO FROM: Kim Ogle
SUBJECT: S-505, Remington Place
On July 21, 2000, the Departments of Public Works and Planning Services preformed a site
investigation of the completed improvements in Remington Place at the request of Les Gelvin, the
applicant. The completed improvements for which a draw is being requested include the
construction of streets, on-site signage and landscaping.
Don Carroll of Weld County Department of Public Works has inspected the items, and in his
memorandum of July 24, 2000, indicates he has no conflict with the release of funds. The
Department of Planning Services' in their memorandum of July 21, 2000 indicates no conflict with
the landscape improvements and recommends release of funds. Lee Morrison, Assistant County
Attorney, has advised that the release of funds would be in accordance with the terms of the
Improvements Agreement.
The Department of Public Works has indicated that it is stated in Improvements Agreement item
numbers 8.1.5 and 8.1.6, that fifteen (15) percent of the asphalt pavement item shall be retained
for a period of one year. At the end of the one year if no distress or repairs are needed to the
asphalt, the fifteen (15) percent collateral shall be released. Monies required for replacement
collateral shall be five hundred (500) dollars.
Therefore, the Department of Planning Services and Department of Public Works recommend that
twenty-nine thousand seven hundred and five dollars and no/100s ($ 29,705.00), be released.
Staff's recommendation is to release the collateral, in the form of a Letter of Credit. This release is
conditioned on the posting of the warranty collateral by the applicant. The applicant has submitted
a Letter of Credit for five hundred (500) dollars for replacement collateral.
SERVICE,TEAMWORK,INTEGRITY.QUALITY
2000"1875
?LI715
Weld Counter PI riling )ep?
MEMORANDUM E , 'oo
(f11Thv
ITO: Kim Ogle, Planner II DATE: July 24, 2000
CFROM: Donald Carroll, Engineering Administrator pie--
SUBJECT: S-440; Remington Place
COLORADO Request for release of collateral
The applicant has provided a letter requesting release of collateral.
The Weld County Public works Department recommends release of collateral for street grading, street ba e.
bridge, street name/stop signs, and road culvert.
In the Improvements Agreement, Item Nos. 8.1.5 and 8.1.6, it states that 15%shall be retained for a period of c lE:
year. At the end of one year if no distress or repairs are needed to the asphalt, the 15% collateral ($500) sl al'
be released.
All other non-transportation items shall be verified by Planning Services prior to release.
pc S-440
plan12s
cc: Carol Harding CTB
Les and Jeanne Gelvin
2401 Cochetopa Court
Fort Collins, Colorado 80525-6136
Phone (970) 282-9898
FAX (970) 221-2077
July 12, 2000
Weld County Planning Dep)
Mr. Kim Ogle
Department of Planning Services JUL
Weld County Administrative Offices 14 2000
1555 North 17th Avenue RECEIVED
Greeley, Colorado 80631
RE: Remington Place Minor Subdivision
Dear Kim:
I believe I have completed all of the required improvements listed on Exhibit "A" of the
Improvements Agreement dated February 2, 2000 for Remington Place Minor
Subdivision.
Please consider this a request for you to release the letter of credit that I gave to you as
collateral for said Improvements Agreement. I would also ask that you please consider
100% release of the letter of credit since I actually went far beyond the actual road
requirements in order to make this a better project.
Upon approval of the release of the letter of credit please return it to me at the address
above.
Thank you, please don't hesitate to call if you have questions.
Sincerely
Les Gelvin
EC-E B I 3'
Name of Suodivision: Z.i:5+,"1r.iCTTor s F,114c M►i. o� S03p1.,. S,
Filing: 1-114
Location: Far-Tic�s CF a>✓i f u o eiec, -•t ,_T'tt..) _ 7-Io'1.1 Wr.J.-o Lcu-11--I, c.o
intenaing :o be .egaily bound, the '1ndersigzled kooiicanc 'aerebv aErrees :o provide hrouQ:iout :m.ms
subdivision and as shown on the subdivision finai ?sat C.: unrr dared ? _
-e�orded �n , '.9 . in Book ?age 'lo. . Reception,__
the foilawing :morcvernencs.
c.
`r -save atiac_s blank where they 10 not anolv`• ''
Estimated _
�trircvernents nit C
; as4 Coiuction_C;,st •
SSrreeet vlGlrta 5 1.Loo , .ycl. -l44;.€9- __ ..
Street base f 2-Co `1O'1' * 3`f4'i•t nit.
7eet 7avarL -- ..
Cutps. ;rrter • .:'uwe:""s _________
.$idewaik
5Qcr. ;ewer facilities - _
3.etetition ^ones
:itc;1 i;FiDr�— ate------ -
utage_
aaildtaz' sewers _
i• t i -ewe'≥
T.' „;r nt :•r1e$
Mains
7 a-e. u e'= ec:edl
Cn te _eWy
ae °acilit es
On a Nate-u v rage
''eater mains-,nciusies Bore 4.l'+,°-' l.f t Hobo'
Fire l vdra 'Q p rr A l i.. $ ?_,,l 00 0�0
•
:141x.v .3. :rree• ^1 f urrlent k. 'poxes '
Street iio ng.__
e-t: . ar^e slam --
Fencina^t-
t• 1 c ca .i .g o - T - 8 St4Ez.G rx 4 -,3t " it So
?ar'.t rrarove'nelts
Road C u f're't 41,1°.:1 1; (11-7, LF 1 4 11.14 U°s
Grass ';ned Swale I - 466D%,J6 4 0.03 i4.fil; 4 3`i 8 m
E I ¢ o0
echone �L �,Z.o_C
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Water -'ams;er
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7-25 made
the :�oun�� .,;'Veld.State of Colorado.
o unr'" ana /Fr" Z Z(o J
iavo `b
N' aS. .A.poiicant is tl ( 11) I 0
orooert'i it :he County of'Neia. Cola
:4
su
or 3ooro'Iai:
shall anorove '1v he CJoni anti:
?uarmceeilg the donstraction of the
of:ne sucd:vtsion, Which imorovem
"A" Inc 9,' of this A rreement.
of said final fiat. the parties hereto crorrt.se, covenant :and agree as follows:
�n ine nZdzr,ices: ..poticanc shall furnish,it its own exoewse. ail enginetr'na ser-i toes
n connection with :he design artd :Qnstruc:ion of:de subdl'tsion improvements listed or.
"A" which is attached hereto and made - part of tihl:i :-efere ce.
1.1 The required engineering serv,ces shatp Je performed ed Cv a Professional Engineer
and Land Surveyor registered in the State of Colorado. and shall :.onior-r. to 1 e
standards and criteria established nv r.r.e County for public improvements.
:.� The required 2i ear to ser..ices snail consist of. Out dot be limited to, s�7 ey!
desiis. oians anc :rofiles. estimates. consuuc:ion supervision. and _ne subrn:•.5,o
of necessary documents :o he Coun v.
441T,sot,g.
If.IN
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Weld County Planning
02. 2000 ".
R FIRST PIONEER NATIONAL BANK POST PANE
OIF7C:M-% EC
. S ® WARY, COLORADO 00760
IRREVOCABLE LETTER OF CREDIT NO. 188
July 27, 2000
Board of County Commissioners
ATTN: Clerk to the Board
P.O. Box 75g
Greeley, CO 80632
Re: Leslie R. and Jeanne Gelvin
Dear Board of County Commissioners:
We hereby open our Irrevocable Letter of Credit in your favor for the account of Leslie R. and
Jeanne Gelvin, 2401 Cochetopa Court, Ft. Collins, CO 80525, for a sum not to exceed the
aggregate of$500.00
Each draft so drawn must be marked "Drawn under FIRST PIONEER NATIONAL BANK,
P.O. Box 96, Wray, CO 80758, Letter of Credit No. 188" and be accompanied by a "signed
statement from the Board of County Commissioners of Weld County, Colorado stating that
Leslie R. and Jeanne Gelvin have committed a material breach of the Improvements Agreement
According to Policy Regarding collateral for improvements regarding the Remington Place
Minor Subdivision of Lot A of Recorded Exemption #1723 located in the NEI/4 of Section 7,
Township 7 North, Range 67 West of the 6th P.M., Weld County, Colorado dated the da;
of , 2000 by and between Leslie R. and Jeanne Gelvin and the Board of County
Commissioners of the County of Weld."
This credit is subject, so far as applicable, to "The Uniform Customs and Practice for
Documentary Credits, 1983 Revision, The International Chamber of Commerce Publication No.
400."
We hereby agree with you that all drafts drawn under and in compliance with the terms of this
credit will be duly honored and presented for payment to our main office, FIRST PIONEER
NATIONAL BANK, P.O. Box 96, Wray, CO 80758. This letter of credit will expire on July
27, 2001, at 5:00 P.M.
MEMBER MC
This letter of credit is automatically extended without amendment, for additional one year
periods from the current expiration or any future expiration date unless 60 days prior tc such
current expiration date FIRST PIONEER NATIONAL BANK notifies beneficiary in writing that
the letter of credit will not be renewed. In the case you receive such a notification, you may draw
by presentation of the following: (a) a draft at sight on FIRST PIONEER NATIONAL BANK;
(b) a statement purportedly signed by an official of the Board of County Commissioners of Weld
County, Colorado stating that we have received notice from FIRST PIONEER NATIONAL
BANK that Letter of Credit No. 188 will not be renewed and that Leslie R. and Jeanne Gelvin
have failed to provide proof of adequate collateral and substitution of this Letter of Credit No.
188; (c) copy of letter from FIRST PIONEER NATIONAL BANK stating non-renewal of
Letter of Credit No. 188 and the original letter of credit.
Yaws,-
xruiy,
Kenneth J. Garton
President & CEO
KJG:bw
STATE OF COLORADO
COUNTY OF YUMA
Subscribed and sworn to before me this 27th day of July, 2000, by Kenneth J. Garton, President
and CEO of First Pioneer National Bank of Wray, CO.
My commission expires 3/28/02
tt 7.tt . . IL
Notary Public r ,
Wray, CO 80758
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